I feel encouraged by the widespread response from teachers and students alike to the first edition. I am presenting this second edition, thoroughly revised and enlarged, to my readers in all humbleness. All possible efforts have been made to enhance further the usefulness of the book. The feedback received from different sources has been incorporated. In this edition a new chapter on “The Computer: Its role in Research” have been added in view of the fact that electronic computers by now, for students of economics, management and other social sciences, constitute an indispensable part of research equipment. The other highlights of this revised edition are (i) the subject contents has been developed, refined and restructured at several points, (ii) several new problems have also been added at the end of various chapters for the benefit of students, and (iii) every page of the book has been read very carefully so as to improve its quality. I am grateful to all those who have helped me directly and/or indirectly in preparing this revised edition. I firmly believe that there is always scope for improvement and accordingly I shall look forward to received suggestions, (which shall be thankfully acknowledged) for further enriching the quality of the text.