Mesoscopic systems have provided an opportunity to study quantum effects beyond the atomic realm. In these systems quantum coherence prevails over the entire sample. We discuss several novel effects related to persistent currents in open systems which do not have analogues in closed systems. Some phenomena arising simultaneously due to two non-classical effects namely, Aharonov-Bohm effect and quantum tunneling are presented. Simple analysis of sharp phase jumps observed in double-slit Aharonov-Bohm experiments is given. Some consequences of parity violation are elaborated. Finally, we briefly describe the dephasing of Aharonov-Bohm oscillations in Aharonov-Bohm ring geometry due to spin-flip scattering in one of the arms. Several experimental manifestations of these phenomena and their applications are given.