This document provides an overview of various types of planning, including: physical and financial planning; short term and long term planning; structural and functional planning; socialist, capitalist, and mixed economy planning; centralized and decentralized planning; democratic and totalitarian planning; permanent and emergency planning; regional, national, and international planning; micro level planning; and rolling planning. For each type of planning, a brief definition and some key features are described.
This document provides an overview of various types of planning, including: physical and financial planning; short term and long term planning; structural and functional planning; socialist, capitalist, and mixed economy planning; centralized and decentralized planning; democratic and totalitarian planning; permanent and emergency planning; regional, national, and international planning; micro level planning; and rolling planning. For each type of planning, a brief definition and some key features are described.
Planning is the deliberate control of an economy by a central authority to achieve targets within a specified period. There are various types of planning based on factors like time, geography, and level of centralization. Centralized planning involves a central authority making all decisions, while decentralized planning involves grassroots input. Socialist planning relies entirely on the central authority, while capitalist planning allows more market forces. The success of planning depends on choosing the appropriate type to meet a country's needs and objectives like development, employment, and resource allocation.
The document discusses the role of fiscal policy in stabilizing and providing growth to an economy. Fiscal policy refers to the government's policies around taxation, spending, and borrowing. It aims to intervene in the economy through adjustments to spending and taxes. In the short term, fiscal policy seeks to stabilize a struggling economy by increasing spending and implementing temporary tax cuts. Its long term goal is sustainable economic growth. Fiscal policy tools include automatic stabilizers that adjust spending on unemployment benefits and healthcare during economic downturns.
How do government policies andor regulations factor into changes in.pdfarihantcomputersddn
How do government policies and/or regulations factor into changes in economic activity on both
a domestic and global scale?
Give a specific example of a policy or regulation that has helped economic activity.
Give a specific example of a policy or regulation that has hindered economic activity.
If you were an economist who was tasked with evaluating this policy or regulation, what are
some ideas you would suggest for changing it in a way that would achieve the same goal but not
hinder economic activity?
Finally, state whether or not you enjoy these types of evaluations and if you would consider
these types of responsibilities in a future career.
Solution
Monetary policy is by far the most powerful weapon in the government’s arsenal. Unfortunately,
it is also the most imprecise. The government can do some fine control with tax policy to move
capital between investments by granting favorable tax status On the whole, governments tend to
go for large, sweeping changes by altering the monetary landscape. Governments are the only
entities that can legally create their respective currencies. Interest rates are another popular
weapon, even though they are often used to counteract inflation. They can spur the economy
separately from inflation.
Pumping in money feels good for a while, especially for investors who see corporate profits and
share prices shooting up, but the long-term impact is an erosion of value across the board.
Savings are worth less, punishing savers and bond buyers
Government programs provide valuable \"public goods\" such as education and infrastructure.
Inreases in government spending can bolster economic growth by putting money into people\'s
pockets.
I believe the policy of QE (quantiative easing) during times of recession to bring back a shattered
economy in place. An automatic reversal will never happen, and it is imperative on the part of
government is follow such prudent measures. I would consider these types of responsibilites in a
long-term perspective.
*****.
This document discusses various types of economic planning. It begins by defining economic planning as the deliberate direction of economic activity towards chosen ends by a central planning authority. It then discusses the need for planning in underdeveloped countries to increase development rates and mobilize resources. The key aspects of successful plan formulation include establishing a planning commission, collecting statistical data, setting objectives, mobilizing resources, balancing the plan, and implementing proper development policies. The document also compares different approaches to planning such as planning by direction vs inducement, democratic vs totalitarian planning, centralized vs decentralized planning, and structural vs functional planning.
This document discusses public fiscal administration in the Philippines. It defines public fiscal administration as the formulation, implementation, and evaluation of taxation, revenue administration, resource allocation, budgeting, public expenditure, borrowing, debt management, accounting, and auditing policies. It describes how fiscal policies are closely linked to other government policies and are influenced by political processes. It also outlines the key government agencies involved in fiscal policy administration and their roles, including the Department of Finance, Department of Budget and Management, National Economic Development Authority, Bangko Sentral ng Pilipinas, and Development Budget Coordination Council.
RUNNING HEAD FINANCE FOR PUBLIC ADMINISTRATORS1FINANCE FOR P.docxcowinhelen
RUNNING HEAD: FINANCE FOR PUBLIC ADMINISTRATORS 1
FINANCE FOR PUBLIC ADMINISTRATORS 10
Public Financial Management Industry’s Consultant
Author’s (Name)
Institution (Affiliate)
Question 2: Public Financial Management Industry Consultant
Financial management in the public and private sector have very evident differences. Those who have experiences in one of the fields may not be able to handle financial administration in the other field. This fact is due to the differences that present themselves in the two areas. There have been a lot of theories that have been brought forward that say that the differences between these two are so obvious that the private sector management should not be applied to the public sector.
To ensure that the 100 million dollar project is completed successfully without any problems, there needs to be the proper financial management of the funds. This is because to achieve the desired progress within the set period there needs to be an appropriate financial management strategy (Guthrie, 1998).
Accounting
The financial management methods used in the accounting industry in the private and public sectors are entirely different. An example is the fact that in the private sector, the financial managers and accountants are governed by the accepted accounting principles (GAAP). This is the set of practices like the double entry used in the accounting profession which is employed in the balancing of balance sheets. This method is mainly used for the public sector funding where steps like budgeting are done. In our case, the accounting will be a crucial step since to finish the project with the set amount of money without experiencing an over expenditure in the finance we need to budget for the money allocated correctly.
Profit
Most of the parastatal bodies are not inclined on the profit factor. However, the private sector businesses are driven by the profits which they anticipate or hope to make once they began their journey in the enterprise they partake. On the public sector however like in our case the gain is substituted by the task orientation or some other motivating factor. In our case, the motivating factor is the accomplishment of the project with budgeted funds that have been allocated to the project (Schick, 1998).
Context
Context is an important difference between the public and private sector financial managers. The context influences how each of the financial managers approaches the work they are involved in doing. The private sector financial managers are driven by the realization of profit. Therefore, the decisions he will make will be by ensuring that in whatever he does he gets to benefit. The public sector financial manager, on the other hand, will not make decisions hastily. The public sector financial managers must practice constraint in their decision making so as not to make decision ...
This document provides an overview of various types of planning, including: physical and financial planning; short term and long term planning; structural and functional planning; socialist, capitalist, and mixed economy planning; centralized and decentralized planning; democratic and totalitarian planning; permanent and emergency planning; regional, national, and international planning; micro level planning; and rolling planning. For each type of planning, a brief definition and some key features are described.
This document provides an overview of various types of planning, including: physical and financial planning; short term and long term planning; structural and functional planning; socialist, capitalist, and mixed economy planning; centralized and decentralized planning; democratic and totalitarian planning; permanent and emergency planning; regional, national, and international planning; micro level planning; and rolling planning. For each type of planning, a brief definition and some key features are described.
Planning is the deliberate control of an economy by a central authority to achieve targets within a specified period. There are various types of planning based on factors like time, geography, and level of centralization. Centralized planning involves a central authority making all decisions, while decentralized planning involves grassroots input. Socialist planning relies entirely on the central authority, while capitalist planning allows more market forces. The success of planning depends on choosing the appropriate type to meet a country's needs and objectives like development, employment, and resource allocation.
The document discusses the role of fiscal policy in stabilizing and providing growth to an economy. Fiscal policy refers to the government's policies around taxation, spending, and borrowing. It aims to intervene in the economy through adjustments to spending and taxes. In the short term, fiscal policy seeks to stabilize a struggling economy by increasing spending and implementing temporary tax cuts. Its long term goal is sustainable economic growth. Fiscal policy tools include automatic stabilizers that adjust spending on unemployment benefits and healthcare during economic downturns.
How do government policies andor regulations factor into changes in.pdfarihantcomputersddn
How do government policies and/or regulations factor into changes in economic activity on both
a domestic and global scale?
Give a specific example of a policy or regulation that has helped economic activity.
Give a specific example of a policy or regulation that has hindered economic activity.
If you were an economist who was tasked with evaluating this policy or regulation, what are
some ideas you would suggest for changing it in a way that would achieve the same goal but not
hinder economic activity?
Finally, state whether or not you enjoy these types of evaluations and if you would consider
these types of responsibilities in a future career.
Solution
Monetary policy is by far the most powerful weapon in the government’s arsenal. Unfortunately,
it is also the most imprecise. The government can do some fine control with tax policy to move
capital between investments by granting favorable tax status On the whole, governments tend to
go for large, sweeping changes by altering the monetary landscape. Governments are the only
entities that can legally create their respective currencies. Interest rates are another popular
weapon, even though they are often used to counteract inflation. They can spur the economy
separately from inflation.
Pumping in money feels good for a while, especially for investors who see corporate profits and
share prices shooting up, but the long-term impact is an erosion of value across the board.
Savings are worth less, punishing savers and bond buyers
Government programs provide valuable \"public goods\" such as education and infrastructure.
Inreases in government spending can bolster economic growth by putting money into people\'s
pockets.
I believe the policy of QE (quantiative easing) during times of recession to bring back a shattered
economy in place. An automatic reversal will never happen, and it is imperative on the part of
government is follow such prudent measures. I would consider these types of responsibilites in a
long-term perspective.
*****.
This document discusses various types of economic planning. It begins by defining economic planning as the deliberate direction of economic activity towards chosen ends by a central planning authority. It then discusses the need for planning in underdeveloped countries to increase development rates and mobilize resources. The key aspects of successful plan formulation include establishing a planning commission, collecting statistical data, setting objectives, mobilizing resources, balancing the plan, and implementing proper development policies. The document also compares different approaches to planning such as planning by direction vs inducement, democratic vs totalitarian planning, centralized vs decentralized planning, and structural vs functional planning.
This document discusses public fiscal administration in the Philippines. It defines public fiscal administration as the formulation, implementation, and evaluation of taxation, revenue administration, resource allocation, budgeting, public expenditure, borrowing, debt management, accounting, and auditing policies. It describes how fiscal policies are closely linked to other government policies and are influenced by political processes. It also outlines the key government agencies involved in fiscal policy administration and their roles, including the Department of Finance, Department of Budget and Management, National Economic Development Authority, Bangko Sentral ng Pilipinas, and Development Budget Coordination Council.
RUNNING HEAD FINANCE FOR PUBLIC ADMINISTRATORS1FINANCE FOR P.docxcowinhelen
RUNNING HEAD: FINANCE FOR PUBLIC ADMINISTRATORS 1
FINANCE FOR PUBLIC ADMINISTRATORS 10
Public Financial Management Industry’s Consultant
Author’s (Name)
Institution (Affiliate)
Question 2: Public Financial Management Industry Consultant
Financial management in the public and private sector have very evident differences. Those who have experiences in one of the fields may not be able to handle financial administration in the other field. This fact is due to the differences that present themselves in the two areas. There have been a lot of theories that have been brought forward that say that the differences between these two are so obvious that the private sector management should not be applied to the public sector.
To ensure that the 100 million dollar project is completed successfully without any problems, there needs to be the proper financial management of the funds. This is because to achieve the desired progress within the set period there needs to be an appropriate financial management strategy (Guthrie, 1998).
Accounting
The financial management methods used in the accounting industry in the private and public sectors are entirely different. An example is the fact that in the private sector, the financial managers and accountants are governed by the accepted accounting principles (GAAP). This is the set of practices like the double entry used in the accounting profession which is employed in the balancing of balance sheets. This method is mainly used for the public sector funding where steps like budgeting are done. In our case, the accounting will be a crucial step since to finish the project with the set amount of money without experiencing an over expenditure in the finance we need to budget for the money allocated correctly.
Profit
Most of the parastatal bodies are not inclined on the profit factor. However, the private sector businesses are driven by the profits which they anticipate or hope to make once they began their journey in the enterprise they partake. On the public sector however like in our case the gain is substituted by the task orientation or some other motivating factor. In our case, the motivating factor is the accomplishment of the project with budgeted funds that have been allocated to the project (Schick, 1998).
Context
Context is an important difference between the public and private sector financial managers. The context influences how each of the financial managers approaches the work they are involved in doing. The private sector financial managers are driven by the realization of profit. Therefore, the decisions he will make will be by ensuring that in whatever he does he gets to benefit. The public sector financial manager, on the other hand, will not make decisions hastily. The public sector financial managers must practice constraint in their decision making so as not to make decision ...
Indian economic planning aimed to achieve predetermined goals through state regulation and control of economic activity. Planning involved setting priorities, mobilizing resources, and creating organizations to execute comprehensive economic plans. Early plans focused on infrastructure, agriculture, and industrial development to raise savings rates and productivity. Later plans prioritized capital goods to rapidly industrialize and fulfill targets in a nearly closed economy with inelastic exports. Indian planning was democratic, indicative, decentralized, and development-oriented to solve issues like poverty and inequality through growth.
Fiscal policy uses government spending and taxation to influence economic conditions like aggregate demand, employment, inflation, and growth. It is used alongside monetary policy to achieve macroeconomic goals like stabilizing the economy. Key tools of fiscal policy include government spending, transfer payments like social security, and taxes. Fiscal policy plays an important role in developing countries by mobilizing resources, providing employment, promoting stability, encouraging investment and savings, and subsidizing consumption and production for the poor. The goals of India's fiscal policy are to increase investment and savings rates to achieve fast economic development.
The document outlines the stages of the policy making process which include issue identification, agenda setting, policy formulation, policy adoption/legitimization, and policy implementation. It then discusses preparation, planning, personal contact, understanding community perspectives, emphasizing positive tactics, participation, publicity, and persistence as important strategies for changing policies.
Policy , Fiscal Policy and Monetary PolicyIkhlas Rahman
This document provides an overview of a presentation on policy, fiscal policy, and monetary policy. It includes the following key points:
1) The group members presenting are listed along with their student IDs.
2) The presentation will cover what policy is, why governments use it, what fiscal policy is, the tools of fiscal policy, and when governments apply fiscal and monetary policy.
3) Fiscal policy involves adjusting government spending and tax rates to influence the economy, while monetary policy controls the money supply through interest rates.
Financial Administration Bangladesh Chapter 5Arif Hasan
This document provides an overview of fiscal policy and administration in Bangladesh. It discusses the functions of the Ministry of Finance, which oversees financial institutions and plans public expenditure policies. It also describes fiscal policy tools like taxation, government spending, and borrowing that influence macroeconomic variables. The effects of fiscal stances like expansionary and contractionary policy on aggregate demand, employment and inflation are summarized. Methods of funding government expenditure through taxation, borrowing, prior surpluses or asset sales are also outlined.
This document is a project report submitted by Hitesh M. Vekhande, a student of M.Com SEM-1 at Arts And Commerce College Wada, under the guidance of Dr. J.K.Kavtekar. The report analyzes the Union Budget of India for 2013-14 and includes sections on the meaning of a budget, the importance of budgets, budget types, an overview of the Union Budget 2013-14, budget estimates, and a conclusion. The document also includes declarations, certificates, acknowledgements and a bibliography.
1. Public finance involves the study of government spending, taxation, and deficits. It examines when and how governments should intervene in markets and the potential outcomes of policy changes.
2. Understanding how government actions affect the economy is important for public finance professionals. Government interventions aim to improve economic efficiency, distribute income, and stabilize macroeconomic conditions.
3. The scope of public finance includes analyzing public revenue, expenditure, debt, financial administration, and economic stabilization policies. It also involves allocating public goods, redistributing income, and reducing economic fluctuations through fiscal policy tools.
The document discusses expansionary fiscal policy, which involves reducing taxes and increasing government spending to boost demand in the economy. This raises disposable income through tax cuts and increases consumption. Tax reductions can help stimulate the economy during a recession by increasing GDP. Expansionary fiscal policy works to increase aggregate demand through government spending or tax reductions, boosting output and employment.
Fiscal policy uses taxation and public spending to influence economic growth and stabilization. The key objectives of India's fiscal policy are to promote growth, ensure social justice, maintain price stability, generate employment, and achieve balanced regional development. Tools of fiscal policy include altering levels of government spending on items like subsidies and welfare schemes as well as changing tax rates to influence levels of public revenue. Government spending components that can be adjusted include subsidies, welfare schemes, and borrowing, while tax rates and asset sales provide adjustable sources of public revenue.
This document outlines the key elements of economic planning, including having definite objectives like accelerating growth and attaining full employment. It discusses how a central planning authority is responsible for preparing development schemes and coordinating all economic activities by making decisions around production and consumption. The planning process has a democratic character by providing opportunities for public participation at different levels. The central planning authority comprehensively covers the entire economy by planning for production, consumption, distribution and allocating resources rationally to maximize social welfare. Plans are designed to set feasible policies and targets based on a country's initial resources to stably achieve economic goals.
Monetary, Fiscal and Income policy – Meaning and instrumentsviveksangwan007
Monetary policy and fiscal policy are the two main tools used by governments to influence economic activity. Monetary policy involves managing interest rates and money supply through a central bank like India's RBI, while fiscal policy involves taxing and spending decisions made by governments. Both tools can be used to stimulate or restrict economic growth. Monetary policy focuses on monetary measures while fiscal policy centers on taxation and expenditures. Together, these policies have a significant impact on a nation's economy.
Fiscal policy involves manipulating government spending and taxation to influence macroeconomic variables like GDP and unemployment. It can be expansionary by cutting taxes and increasing spending, or contractionary by raising taxes and reducing spending. While fiscal policy aims to stabilize the economy, it faces limitations like time lags between policy changes and economic impacts, difficulty in fine-tuning the economy, and issues financing large budget deficits from expansionary policies.
This document discusses different types of policies and the policy development process. It outlines that there are substantive/administrative policies, vertical/horizontal policies, and reactive/proactive policies. It also explains that policy development involves selecting an objective, identifying targets, determining pathways, designing programs, implementing, and assessing impact. The goal of public policy is to achieve outcomes that benefit society such as reducing poverty through various policy pathways.
Economic development refers to improving a nation's economy and standards of living, typically by transitioning to industry from agriculture and adopting new technologies. It involves efforts to create and retain jobs, support incomes, and grow tax bases to improve communities' economic well-being and quality of life. While economic growth means increasing measures like GDP, economic development implies broader improvements to indicators such as education, health, and poverty levels.
Chapter Two^^.Elements of production------.pptxjeytemdgadid
This document provides an overview of plant location and layout. It begins by stating the learning objectives of understanding concepts related to introduction, definition, factors affecting location selection, principles of plant layout, and classification of layouts. It then provides definitions of plant location and layout, noting the need to select a suitable location based on general factors. The document also discusses different types of plant layouts and principles to consider for effective layout. In summary, it covers key concepts for properly planning the location and layout of production facilities.
Fiscal policy refers to a government's use of spending and taxation to influence a nation's economy. Taxation raises revenue for public expenditures like pensions, infrastructure, and other collective needs. Government also takes on public debt through loans to fund budget deficits, development projects, and welfare programs. Fiscal policy can be either expansionary, involving increased spending or tax cuts, or contractionary, reducing spending and raising taxes to slow unsustainable growth. The objectives of fiscal policy include achieving full employment, price stability, equitable distribution of resources and income, economic development, and overall stability.
KEY TAKE AWAYS
Objectives
Definition
Basic macroeconomic concepts
Types of Macro economic Policy
Monetary Policy
Fiscal Policy
Comparison between Monetary and Fiscal Policy
Features of Macroeconomic Policy
Effect of Macro economic Policy
Importance of Macroeconomic Policy
Weakness of Macroeconomics Policy
Conclusion
The document discusses various aspects of planning for fisheries development including types of planning, steps in sectoral and regional planning, and components of annual plans. It provides details on imperative, indicative, and inducement planning based on government role. It also outlines perspectives, medium-term, short-term, physical, financial, rolling, and fixed plans. Key aspects of sectoral planning include identifying objectives, conducting studies, formulating strategies, and developing detailed plans. Regional planning can be for independent regional development or decentralized implementation of national plans. Annual plans evaluate past years and detail costs, resources, and measures for current year targets.
The document discusses public policy, outlining that it is a course of action created by governments to address public problems. It explains the various conceptualizations of public policy and notes that public policy focuses on decisions that create outputs of political systems, such as health, education, and defense policies. Additionally, it describes the policy cycle process of agenda setting, formulation, legitimation, implementation, and evaluation of public policies.
New Visa Rules for Tourists and Students in Thailand | Amit Kakkar Easy VisaAmit Kakkar
Discover essential details about Thailand's recent visa policy changes, tailored for tourists and students. Amit Kakkar Easy Visa provides a comprehensive overview of new requirements, application processes, and tips to ensure a smooth transition for all travelers.
Mais conteúdo relacionado
Semelhante a Group_7_Development_and_Policy_Making.pdf
Indian economic planning aimed to achieve predetermined goals through state regulation and control of economic activity. Planning involved setting priorities, mobilizing resources, and creating organizations to execute comprehensive economic plans. Early plans focused on infrastructure, agriculture, and industrial development to raise savings rates and productivity. Later plans prioritized capital goods to rapidly industrialize and fulfill targets in a nearly closed economy with inelastic exports. Indian planning was democratic, indicative, decentralized, and development-oriented to solve issues like poverty and inequality through growth.
Fiscal policy uses government spending and taxation to influence economic conditions like aggregate demand, employment, inflation, and growth. It is used alongside monetary policy to achieve macroeconomic goals like stabilizing the economy. Key tools of fiscal policy include government spending, transfer payments like social security, and taxes. Fiscal policy plays an important role in developing countries by mobilizing resources, providing employment, promoting stability, encouraging investment and savings, and subsidizing consumption and production for the poor. The goals of India's fiscal policy are to increase investment and savings rates to achieve fast economic development.
The document outlines the stages of the policy making process which include issue identification, agenda setting, policy formulation, policy adoption/legitimization, and policy implementation. It then discusses preparation, planning, personal contact, understanding community perspectives, emphasizing positive tactics, participation, publicity, and persistence as important strategies for changing policies.
Policy , Fiscal Policy and Monetary PolicyIkhlas Rahman
This document provides an overview of a presentation on policy, fiscal policy, and monetary policy. It includes the following key points:
1) The group members presenting are listed along with their student IDs.
2) The presentation will cover what policy is, why governments use it, what fiscal policy is, the tools of fiscal policy, and when governments apply fiscal and monetary policy.
3) Fiscal policy involves adjusting government spending and tax rates to influence the economy, while monetary policy controls the money supply through interest rates.
Financial Administration Bangladesh Chapter 5Arif Hasan
This document provides an overview of fiscal policy and administration in Bangladesh. It discusses the functions of the Ministry of Finance, which oversees financial institutions and plans public expenditure policies. It also describes fiscal policy tools like taxation, government spending, and borrowing that influence macroeconomic variables. The effects of fiscal stances like expansionary and contractionary policy on aggregate demand, employment and inflation are summarized. Methods of funding government expenditure through taxation, borrowing, prior surpluses or asset sales are also outlined.
This document is a project report submitted by Hitesh M. Vekhande, a student of M.Com SEM-1 at Arts And Commerce College Wada, under the guidance of Dr. J.K.Kavtekar. The report analyzes the Union Budget of India for 2013-14 and includes sections on the meaning of a budget, the importance of budgets, budget types, an overview of the Union Budget 2013-14, budget estimates, and a conclusion. The document also includes declarations, certificates, acknowledgements and a bibliography.
1. Public finance involves the study of government spending, taxation, and deficits. It examines when and how governments should intervene in markets and the potential outcomes of policy changes.
2. Understanding how government actions affect the economy is important for public finance professionals. Government interventions aim to improve economic efficiency, distribute income, and stabilize macroeconomic conditions.
3. The scope of public finance includes analyzing public revenue, expenditure, debt, financial administration, and economic stabilization policies. It also involves allocating public goods, redistributing income, and reducing economic fluctuations through fiscal policy tools.
The document discusses expansionary fiscal policy, which involves reducing taxes and increasing government spending to boost demand in the economy. This raises disposable income through tax cuts and increases consumption. Tax reductions can help stimulate the economy during a recession by increasing GDP. Expansionary fiscal policy works to increase aggregate demand through government spending or tax reductions, boosting output and employment.
Fiscal policy uses taxation and public spending to influence economic growth and stabilization. The key objectives of India's fiscal policy are to promote growth, ensure social justice, maintain price stability, generate employment, and achieve balanced regional development. Tools of fiscal policy include altering levels of government spending on items like subsidies and welfare schemes as well as changing tax rates to influence levels of public revenue. Government spending components that can be adjusted include subsidies, welfare schemes, and borrowing, while tax rates and asset sales provide adjustable sources of public revenue.
This document outlines the key elements of economic planning, including having definite objectives like accelerating growth and attaining full employment. It discusses how a central planning authority is responsible for preparing development schemes and coordinating all economic activities by making decisions around production and consumption. The planning process has a democratic character by providing opportunities for public participation at different levels. The central planning authority comprehensively covers the entire economy by planning for production, consumption, distribution and allocating resources rationally to maximize social welfare. Plans are designed to set feasible policies and targets based on a country's initial resources to stably achieve economic goals.
Monetary, Fiscal and Income policy – Meaning and instrumentsviveksangwan007
Monetary policy and fiscal policy are the two main tools used by governments to influence economic activity. Monetary policy involves managing interest rates and money supply through a central bank like India's RBI, while fiscal policy involves taxing and spending decisions made by governments. Both tools can be used to stimulate or restrict economic growth. Monetary policy focuses on monetary measures while fiscal policy centers on taxation and expenditures. Together, these policies have a significant impact on a nation's economy.
Fiscal policy involves manipulating government spending and taxation to influence macroeconomic variables like GDP and unemployment. It can be expansionary by cutting taxes and increasing spending, or contractionary by raising taxes and reducing spending. While fiscal policy aims to stabilize the economy, it faces limitations like time lags between policy changes and economic impacts, difficulty in fine-tuning the economy, and issues financing large budget deficits from expansionary policies.
This document discusses different types of policies and the policy development process. It outlines that there are substantive/administrative policies, vertical/horizontal policies, and reactive/proactive policies. It also explains that policy development involves selecting an objective, identifying targets, determining pathways, designing programs, implementing, and assessing impact. The goal of public policy is to achieve outcomes that benefit society such as reducing poverty through various policy pathways.
Economic development refers to improving a nation's economy and standards of living, typically by transitioning to industry from agriculture and adopting new technologies. It involves efforts to create and retain jobs, support incomes, and grow tax bases to improve communities' economic well-being and quality of life. While economic growth means increasing measures like GDP, economic development implies broader improvements to indicators such as education, health, and poverty levels.
Chapter Two^^.Elements of production------.pptxjeytemdgadid
This document provides an overview of plant location and layout. It begins by stating the learning objectives of understanding concepts related to introduction, definition, factors affecting location selection, principles of plant layout, and classification of layouts. It then provides definitions of plant location and layout, noting the need to select a suitable location based on general factors. The document also discusses different types of plant layouts and principles to consider for effective layout. In summary, it covers key concepts for properly planning the location and layout of production facilities.
Fiscal policy refers to a government's use of spending and taxation to influence a nation's economy. Taxation raises revenue for public expenditures like pensions, infrastructure, and other collective needs. Government also takes on public debt through loans to fund budget deficits, development projects, and welfare programs. Fiscal policy can be either expansionary, involving increased spending or tax cuts, or contractionary, reducing spending and raising taxes to slow unsustainable growth. The objectives of fiscal policy include achieving full employment, price stability, equitable distribution of resources and income, economic development, and overall stability.
KEY TAKE AWAYS
Objectives
Definition
Basic macroeconomic concepts
Types of Macro economic Policy
Monetary Policy
Fiscal Policy
Comparison between Monetary and Fiscal Policy
Features of Macroeconomic Policy
Effect of Macro economic Policy
Importance of Macroeconomic Policy
Weakness of Macroeconomics Policy
Conclusion
The document discusses various aspects of planning for fisheries development including types of planning, steps in sectoral and regional planning, and components of annual plans. It provides details on imperative, indicative, and inducement planning based on government role. It also outlines perspectives, medium-term, short-term, physical, financial, rolling, and fixed plans. Key aspects of sectoral planning include identifying objectives, conducting studies, formulating strategies, and developing detailed plans. Regional planning can be for independent regional development or decentralized implementation of national plans. Annual plans evaluate past years and detail costs, resources, and measures for current year targets.
The document discusses public policy, outlining that it is a course of action created by governments to address public problems. It explains the various conceptualizations of public policy and notes that public policy focuses on decisions that create outputs of political systems, such as health, education, and defense policies. Additionally, it describes the policy cycle process of agenda setting, formulation, legitimation, implementation, and evaluation of public policies.
Semelhante a Group_7_Development_and_Policy_Making.pdf (20)
New Visa Rules for Tourists and Students in Thailand | Amit Kakkar Easy VisaAmit Kakkar
Discover essential details about Thailand's recent visa policy changes, tailored for tourists and students. Amit Kakkar Easy Visa provides a comprehensive overview of new requirements, application processes, and tips to ensure a smooth transition for all travelers.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Unlock Your Potential with NCVT MIS.pptxcosmo-soil
The NCVT MIS Certificate, issued by the National Council for Vocational Training (NCVT), is a crucial credential for skill development in India. Recognized nationwide, it verifies vocational training across diverse trades, enhancing employment prospects, standardizing training quality, and promoting self-employment. This certification is integral to India's growing labor force, fostering skill development and economic growth.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
2. An economic development plan helps you realize
your community's economic vision and take
control of your economic future. It can help bring
together community residents with private and
public sectors. Together, you can choose
economic development goals and outline how to
accomplish those goals.
Development
Planning
4. Economic Planning
It may be described as a deliberate
governmental attempt to coordinate economic
decision making over the long run and to
influence, direct, and in some cases even control
the level and growth of a nation’s principal
economic variables.
5. Economic Plan
It is simply a specific set of quantitative
economic targets to be reached in a given
period of time, with a stated strategy for
achieving those targets.
6. Planning Process
It is the procedure for
drawing up and carrying
out a formal economic
plan.
7. Development Planning in Mixed
Developing Economies
The government’s
deliberate use of
domestic saving
and foreign finance
to carry out public
investment
projects.
Governmental
economic
policy
1 2
11. Project Appraisal
The quantitative analysis of the
relative desirability (profitability) of
investing a given sum of public or
private funds in alternative projects.
12. Distinguishing Market Failure
and Government Failure
Market Failure Govt. Failure
A phenomenon that
results from the existence
of market imperfections
that weaken the
functioning of a market
economy.
A situation in which
government
intervention in an
economy worsens
outcomes.
13. Conclusion
The process of formulating a comprehensive, detailed
development plan is obviously a more complicated
process than that described by our three-stage
approach. It involves a constant dialogue and feedback
mechanism between national leaders who set priorities
and planners, statisticians, research workers, and
departmental or ministry officials.
14. Policy making refers to the process by which
governments and other authorities make
decisions and implement actions to manage and
influence their country's economy. It involves a
range of activities, including setting goals,
formulating strategies, and implementing specific
measures to achieve desired economic outcomes.
Policy Making
15. Steps in Policy Making
Recognizing the Problem
Agenda Setting
Formulating the Policy
Adopting the Policy
Implementing the Policy
16. Recognizing the Problem
People have to recognize that
government can and should do
something about them. For example,
most citizens probably do not expect
government to prevent hurricanes.
17. Agenda Setting
An agenda is a set of problems that
government wants to solve. Usually
there are so many of them that they
must be prioritized, with some
problems getting earlier and more
attention than others.
18. Formulating the Policy
At this stage, usually several
conflicting plans from
various political interests
take shape.
19. Adopting the Policy
Once various plans are presented,
one policy is accepted by the
decision-makers. In many cases, a
policy is adopted when Congress
passes a law.
20. Implementing the Policy
Most public policies are carried out by
administrative agencies in the
executive branch, although
sometimes the courts get involved in
implementing decisions they make.
21. Goals of Economic Policy
Stable prices
1.
2.
3.
Full employment
Economic growth
22. Stable prices
1.
When prices for goods and
services increase sharply, the
value of money is reduced,
and it costs more to buy the
same things. This condition is
called inflation.
23. Absolute full employment is
impossible to achieve; at any
given time, people are quitting
their jobs or are unable to
work for a variety of reasons.
2. Full employment
24. Refers to an increase
in the size of a
country's economy
over a period of time.
3. Economic growth
25. Conclusion
In conclusion, economic policy making is a
fundamental aspect of governance with far-
reaching implications for the well-being and
development of societies. The complexity of modern
economies necessitates thoughtful, evidence-based,
and adaptive policies to address challenges and
seize opportunities.