by comparing the actual values of inflation is surely inadequate: first no central bank has a complete control over inflation; second‚ in practice all that central banks care about stabilising economic activity. Over the past half century‚ macroeconomic theory has undergone significant changes. More specifically‚ the importance of expectations has come to the forefront in economic theory to such an extent that monetary policy has been described as the ‘management of expectations’. Inevitably‚
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employment‚ stability‚ economic growth‚ efficiency‚ and equity‚ that are generally desired by society and pursued by governments through economic policies. The five goals are typically divided into the three that are most important for macroeconomics (the macroeconomic goals of full employment‚ stability and economic growth) and the two that are most important for microeconomics (the microeconomic goals of efficiency and equity). A direct reflection of the scarcity problem is that human beings have
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MUOKI SHADRACK KIALA D61/65721/2013 TSISAGA MERCY ALEYO D61/69599/2013 ANNE GICHIU D61/65838/2013 OWIDI GABRIEL ODONGO D61/68108/2013 JAMILLAH KHAVAYI D61/69241/2013 SEMESTER: MAY TO AUGUST 2014. TASK: FINANCIAL MARKETS AND MACROECONOMIC POLICY II FINANCIAL INNOVATION AND MONETARY POLICY FINANCIAL INNOVATIONS Innovation is the introduction of a new product to a market or the production of an existing one in a new manner. Financial innovations occur because market participants
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Tuesday (Sec-2)‚ 7 p.m. to 10.10 p.m. Graduate Teaching Assistant: Asif ur Rahman Contact: asif_nsu@yahoo.com Course outline Course Objectives: In a country the state of the economy affects everyone‚ so macroeconomic issues play an important role in politics and business. The purpose of this course is to give ideas on economic aggregates such as national income‚ employment‚ investment‚ inflation‚ foreign exchange‚ export and import. The overall
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Fiscal and Monetary Policy Monetary and fiscal policies are the actions taken by the governments to conduct their macroeconomic policy. They always come together‚ but define different events. Monetary policy defines the actions of central banks aimed at achieving government’s macroeconomic goals‚ namely full employment‚ stability of prices‚ and economic growth. Fiscal policy is the taxation mechanism of how a government earns to the budget and what it spends it on. In the United States‚ the Federal
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Energy Policy 39 (2011) 603–612 Contents lists available at ScienceDirect Energy Policy journal homepage: www.elsevier.com/locate/enpol Impact of oil price shocks on selected macroeconomic variables in Nigeria Akin Iwayemi 1‚ Babajide Fowowe n Department of Economics‚ University of Ibadan‚ Ibadan‚ Nigeria a r t i c l e in f o Article history: Received 14 January 2010 Accepted 20 October 2010 Available online 11 November 2010 Keywords: Oil price shocks Nonlinear models Nigeria abstract
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Unemployment………………………………………………… 07 4.2 Impact on Income…………………………………………………………. 07 4.3 Impact on consumption and expenditure……………...…………………. 07 4.4 Impact on taxes…………………………………………………………… 07 Conclusion…………………………………………………………………….. 08 2.0 Introduction: Macroeconomics is the study of the economy as a whole. Its
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Firms resort to macroeconomic analysis to make rational judgments about the effects of global events or policy shocks on the economy and thereby on the business environment. But such analysis is often laden with possibilities for logical missteps. The Three- Pane model (open economy IS/LM model) is discussed here as a tool for explaining key relationships in the economy while avoiding the missteps encountered in macroeconomic analysis. What is open economy macroeconomics? Macroeconomic analysis helps
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or the environment itself) Marketing and Macroeconomics Economic activity: in a country can be studied on various levels: Industry Analysis Macroeconomics Monetary economics International economic relations Industry Analysis: is the study of the characteristics of markets and business sectors that companies come into contact with‚ the supply and demand of goods and the change that occur in supply and demand when prices change. Macroeconomics: deals with economic activities at a national
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affect us and the world around us. I had some ideas of how these principles worked‚ but was I taken for a loop when I tried to balance out the equations. This is what I learned from this simulation and how it applied to real-world occurrences. Two Macroeconomic and Microeconomic Principles The two principles that I found that related to the simulation for microeconomics were supply and demand‚ and scarcity. These two principles both have a direct effect on what a people will do‚ on a personal level‚
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