Fiscal and Monetary Policy
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Fiscal and Monetary Policy

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    Fiscal and Monetary Policy Fiscal and Monetary Policy Presentation Transcript

    • Fiscal and MonetaryFiscal and Monetary Policy:Policy: A ClarificationA Clarification
    •  Fiscal- the utilization of certainFiscal- the utilization of certain governmental activities and actions in thegovernmental activities and actions in the development and stabilization of thedevelopment and stabilization of the economy.economy.  Monetary- this pertains to the amount ofMonetary- this pertains to the amount of money circulation or the money supply inmoney circulation or the money supply in our country.our country.
    • Elements of Fiscal PolicyElements of Fiscal Policy  Taxation- means of obtaining revenue/sTaxation- means of obtaining revenue/s from government, as a means offrom government, as a means of transferring resources from private totransferring resources from private to public sector.public sector.  Expenditure-means the amount of theExpenditure-means the amount of the expenses of the government to financeexpenses of the government to finance the goods and services they provide.the goods and services they provide.
    •  Debt management- how governmentDebt management- how government manage the debts in the country in variousmanage the debts in the country in various forms.forms.
    • Public FinancePublic Finance  Income- it is the financial resources thatIncome- it is the financial resources that the government get from taxes and otherthe government get from taxes and other revenues.revenues.  Outgo- is the government’s expenditure ofOutgo- is the government’s expenditure of funds to finance the goods and services.funds to finance the goods and services.
    • Public FinancePublic Finance 5 step process5 step process  the formulation of fiscal policy.the formulation of fiscal policy.  The generation of revenue from taxationThe generation of revenue from taxation and other sources.and other sources.  The expenditure of funds through theThe expenditure of funds through the national budget.national budget.  Public borrowingsPublic borrowings  accountabilityaccountability
    • Rethinking alternatives toRethinking alternatives to Fiscal and Monetary Policy:Fiscal and Monetary Policy: Challenges to Progressive groupsChallenges to Progressive groups
    •  First, progressive groups need to take aFirst, progressive groups need to take a second look at dearly held theories aboutsecond look at dearly held theories about budget deficits, money supply andbudget deficits, money supply and inflation, foreign exchange rates andinflation, foreign exchange rates and devaluation.devaluation.
    •  Second, alternative debts policies need toSecond, alternative debts policies need to be continually reexamined in the light ofbe continually reexamined in the light of rapid changes in the debt profile of therapid changes in the debt profile of the country and global developments.country and global developments.
    •  Third, accurate discussion and debateThird, accurate discussion and debate needed to be continued in the area ofneeded to be continued in the area of monetary and foreign exchange policy.monetary and foreign exchange policy.