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I am looking for a text book that will cover the following topics I hope someone could suggest me a good text book that will provide me a good guidance regarding the following;

Generating functions, Convolution, Compounding, Random walks, Recurrent events, Discrete parameter Markov Chains, Continuous parameter Markov Chains, Birth and Death processes, Queuing processes.

I have no idea of stochastic processes yet so any book with good explanations will be very useful. Thank you.

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Ross's Stochastic Processes covers many of these topics.

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Feller's An Introduction to Probability Theory and its Applications, Vol. I is a classic that is still very useful. However, it covers a lot of ground, so it may not be the best choice if you want to learn the basics quickly.

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The following book interestingly covers topics that you were looking for:

Probability and Random Processes, Geoffrey R. Grimmett, David R. Stirzaker

If you are looking for a book with a more applied approach:

Stochastic Processes: Theory for Applications, Robert Gallager

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  • $\begingroup$ Thanks! Found a pdf for the 1st text will go through $\endgroup$ – Heisenberg Jan 28 '14 at 16:47
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Karlin and Taylor's A First Course in Stochastic Processes and A Second Course in Stochastic Processes are very good, though quite expensive.

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  • $\begingroup$ Hopefully an Indian subcontinent version will be available for a cheaper price! $\endgroup$ – Heisenberg Jan 28 '14 at 16:46

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