Thanks to continuous technology scaling, intelligent, fast and smaller digital systems are now available at affordable costs. As a result, digital systems have found use in a wide range of application areas that were not even imagined before, including medical (e.g., MRI, remote or post-operative monitoring devices, etc.), automotive (e.g., adaptive cruise control, anti-lock brakes, etc.), security systems (e.g., residential security gateways, surveillance devices, etc.), and in- and out-of-body sensing (e.g., capsule swallowed by patients measuring digestive system pH, heart monitors, etc.). Such computing systems, which are completely embedded within the application, are called embedded systems, as opposed to general purpose computing systems. In the design of such embedded systems, power consumption and reliability are indispensable system requirements. In battery operated portable devices, the battery is the single largest factor contributing to device cost, weight, recharging time, frequency and ultimately its usability. For example, in the Apple iPhone 4 smart-phone, the battery is $40\%$ of the device weight, occupies $36\%$ of its volume and allows only $7$ hours (over 3G) of talk time. As embedded systems find use in a range of sensitive applications, from bio-medical applications to safety and security systems, the reliability of the computations performed becomes a crucial factor. At our current technology-node, portable embedded systems are prone to expect failures due to soft errors at the rate of once-per-year; but with aggressive technology scaling, the rate is predicted to increase exponentially to once-per-hour. Over the years, researchers have been successful in developing techniques, implemented at different layers of the design-spectrum, to improve system power efficiency and reliability. Among the layers of design abstraction, I observe that the interface between the compiler and processor micro-architecture possesses a unique potential for efficient design optimizations. A compiler designer is able to observe and analyze the application software at a finer granularity; while the processor architect analyzes the system output (power, performance, etc.) for each executed instruction. At the compiler micro-architecture interface, if the system knowledge at the two design layers can be integrated, design optimizations at the two layers can be modified to efficiently utilize available resources and thereby achieve appreciable system-level benefits. To this effect, the thesis statement is that, ``by merging system design information at the compiler and micro-architecture design layers, smart compilers can be developed, that achieve reliable and power-efficient embedded computing through: i) Pure compiler techniques, ii) Hybrid compiler micro-architecture techniques, and iii) Compiler-aware architectures''. In this dissertation demonstrates, through contributions in each of the three compiler-based techniques, the effectiveness of smart compilers in achieving power-efficiency and reliability in embedded systems.