Monetary policy Essay Example | Topics and Well Written Essays - 2000 words

Monetary policy - Essay Example Therefore, to realize economic stability, it is paramount for the economic policies enacted to be in correspondent with the state of the country in terms of resources and economic endowments. Two approaches are used to realize the economic goals of price stability, growth and development, and stability in the exchange rates. These two ways include monetary and fiscal policy mechanisms. While fiscal policy frameworks focus on aspects such as government expenditure, taxation, and subsidies, the monetary policy represents the stipulations enacted to regulate the flow of money in the economy. Besides, the monetary policy mechanisms are used by the financial institutions to regulate an effective interest rate. The main objective of regulating the flow of money in the economy is to stabilize the currency and control inflation within a manageable or planned level. The monetary policy is an effective aspect and framework of the Central Bank of England that impacts on the effective cost of bo rrowing which has a direct effect on the amount of money in circulation and consumer expenditure. The stability of the monetary policy is measured by the stable prices, stable exchange rates (confidence in the currency), and low inflation rate. All the key decisions regarding the monetary policy are made by the Monetary Policy Committee. MPC of the Bank of England The Bank of England, through its Monetary Policy Committee, attempts to regulate and influence the general economic pattern and expenditure by changing its official interest rates. This is because it is important to maintain a steady growth rate between the level of output and money expenditure in the economy so as to eliminate inflation. Through this approach, the MPC therefore desires to control inflation by adjusting interest rates either upward or downward (Cobham, 2003 p. 61). After setting the national renting rate to major financial institutions, these then affect the entire economy from building societies, trading institutions, to consumers. Besides, the interest rates set by the MPC of the Bank of England is reflected in the exchange rates markets and equity stock markets. The Bank of England's Monetary Policy Committee (MPC) charged with the responsibility of determining the interest rates was accorded the power by the Labor Government in 1997. This followed periods of high inflation rates and soaring bench mark of 15% after it was realized that ministerial interest rate control was ineffective in maintaining long-term sustainable economic stability. This was because the economic decision were clouded by political factors. The MPC of the Bank of England is a nine member committee chaired by the Governor of the Bank of England, the Deputy Governors, four appointees by the Chancellor, Chief Economist, and Executive Directors of the Market Operation. Monetary Policy Statistics (2002-2012) Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 CPI 1.3 1.4 1.4 2.0 2.3 2.3 3.6 2.2 3.3 4.5 2. 7 Interests Rates 4.0 3.75 4.75 4.5 5.0 5.5 4.6 0.6 0.5 0.5 0.5 From these statistics, it is observed that the MPC of the Bank of England has been very consistent in its policies and interest rates. From 2002 to 2012, the highest inflation rate ever reported in England wass 4.5% in 2011 while the lowest inflation rate in the economy of England is 1.3% recorded in 2002. However, over this eleven year period,

Curriculum Essay Example | Topics and Well Written Essays - 2500 words - 1

Curriculum - Essay Example He described curriculum in a range of approaches. One of them is linked to syllabus or a body of knowledge to be transmitted to the students. Smith also stressed that curriculum is a set of objectives, where there is a drawn-up plan to apply intended objectives with a measurable outcome. Another alternative definition is that curriculum is a student’s total experience. It comprises teachers’ and students’ communication and relationships between them. Smith also recommends that curriculum is one’s ability to apply theory to practice. Language Arts is one essential subject area that hones communication skills of students. Being knowledgeable in literature, grammar and writing is one important goal for them that will greatly benefit them in their growth and development. This paper will compare 7th Grade Language Arts curriculum guides of three schools in New Jersey, namely the Hillside, Union and Orange Public Schools. The comparison will only be based on the guides acquired from these schools and not from how their curriculums are implemented. Of the three schools, Hillside Public School provided the most comprehensive curriculum guide. Next was the Orange School which also provided a clear outline indicating the goals of the Language Arts program and how its assessment strategies. Union School provided the least comprehensive guide, with just the use of cue words in enumerating its curriculum content and suggested activities. One of the widely adopted curriculum design is the ‘Understanding by Design’ Planning Framework (UbD) by Wiggins, Grant and McTighe (1998). This is also known as the Backward Design Model wherein the teacher starts with the end, the desired results, and then derives the curriculum from the evidence of learning called for by the expectations and the teaching needed to equip students to perform. The UbD involves the following processes: The Hillside School obviously adopted the Understanding by Design