The document provides an overview of Chapter 13 which discusses fiscal policy. It begins by introducing the American Recovery and Reinvestment Act (ARRA) passed in 2008 to stimulate the economy during the recession. It then lists the learning objectives which include evaluating the effects of discretionary fiscal policy, discussing potential offsets that could reduce its effectiveness, and describing automatic stabilizers. The remainder of the document outlines the chapter and provides examples and figures to explain key aspects of discretionary fiscal policy, possible offsets, coping with time lags, and automatic stabilizers.
This chapter discusses deficit spending and the public debt. It begins with an introduction stating that in recent years, federal government expenditures have exceeded receipts, requiring borrowing of over $1 trillion per year. The chapter will contemplate the implications of this federal borrowing. It then lists learning objectives, including explaining how deficits occur and evaluating when public debt could burden future generations. The chapter outline and a discussion of rising deficits and debts in the US follow.
The document discusses Chapter 10 of an economics textbook. It covers long-run equilibrium in the economy, how economic growth affects the long-run aggregate supply curve and the price level. It also examines factors that can cause the aggregate demand curve to shift, leading to inflation or deflation. The chapter outlines how new resources in the Arctic region could boost economic growth in northern countries by shifting their long-run aggregate supply curves outward.
Fiscal policy involves the government raising revenue through taxation and determining spending levels to address economic issues like excess or deficient demand. The key instruments of fiscal policy are taxes, government spending, and deficit financing. In times of deficient demand, fiscal steps include decreasing taxes, increasing spending, and increasing the deficit. The opposite measures are taken during periods of excess demand. Fiscal policy aims to promote capital formation, economic development, stability, and address issues like inflation and inequality. Government budgets project revenue, expenditure, deficits, and surpluses on an annual basis.
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.
The document provides an overview of Chapter 12 from an economics textbook. It discusses key concepts related to consumption, investment, and how changes in these impact real GDP based on Keynesian economic models. Specifically, it covers determinants of consumption and saving behaviors, how planned investment is determined, and how equilibrium real GDP is established through the balancing of total planned expenditures and output. The chapter outline and learning objectives are also summarized.
Fiscal policy is the means by which a government adjusts its spending levels and tax rates to influence a nation's economy. The key components of fiscal policy are taxation policy, public expenditure policy, public debt policy, and deficit financing. In India, the objectives of fiscal policy include mobilizing resources for economic development, increasing investment and savings, reducing poverty and inequality, and generating employment. While fiscal policy has contributed to India's capital formation and development, it also faces limitations such as a weak policymaking machinery, political influences, and a high interest burden from public debt. Reforms are needed to improve fiscal policy, including rationalizing the tax structure.
This document discusses monetary and fiscal policy in India. It defines monetary policy as how the central bank controls money supply through interest rates to maintain price stability and economic growth. It describes various monetary policy tools used by the Reserve Bank of India including bank rate, open market operations, statutory liquidity ratio, cash reserve ratio, repo rate, and reverse repo rate. The document also defines fiscal policy as government policy regarding taxation and expenditures. It outlines objectives of fiscal policy such as development, employment, income distribution, and economic activity. Instruments of fiscal policy include taxation, expenditure, and methods of funding deficits.
This document discusses fiscal policy and its objectives. It provides information on fiscal policy tools used by governments to influence economic growth, employment and prices. The key objectives of fiscal policy are mobilizing resources, accelerating economic growth, minimizing income inequality, increasing employment opportunities, and maintaining price stability. Examples of fiscal tools include taxation, public expenditure, borrowing. The document also summarizes Indian fiscal policy goals of rapid growth, employment expansion, reducing disparities.
This chapter discusses deficit spending and the public debt. It begins with an introduction stating that in recent years, federal government expenditures have exceeded receipts, requiring borrowing of over $1 trillion per year. The chapter will contemplate the implications of this federal borrowing. It then lists learning objectives, including explaining how deficits occur and evaluating when public debt could burden future generations. The chapter outline and a discussion of rising deficits and debts in the US follow.
The document discusses Chapter 10 of an economics textbook. It covers long-run equilibrium in the economy, how economic growth affects the long-run aggregate supply curve and the price level. It also examines factors that can cause the aggregate demand curve to shift, leading to inflation or deflation. The chapter outlines how new resources in the Arctic region could boost economic growth in northern countries by shifting their long-run aggregate supply curves outward.
Fiscal policy involves the government raising revenue through taxation and determining spending levels to address economic issues like excess or deficient demand. The key instruments of fiscal policy are taxes, government spending, and deficit financing. In times of deficient demand, fiscal steps include decreasing taxes, increasing spending, and increasing the deficit. The opposite measures are taken during periods of excess demand. Fiscal policy aims to promote capital formation, economic development, stability, and address issues like inflation and inequality. Government budgets project revenue, expenditure, deficits, and surpluses on an annual basis.
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.
The document provides an overview of Chapter 12 from an economics textbook. It discusses key concepts related to consumption, investment, and how changes in these impact real GDP based on Keynesian economic models. Specifically, it covers determinants of consumption and saving behaviors, how planned investment is determined, and how equilibrium real GDP is established through the balancing of total planned expenditures and output. The chapter outline and learning objectives are also summarized.
Fiscal policy is the means by which a government adjusts its spending levels and tax rates to influence a nation's economy. The key components of fiscal policy are taxation policy, public expenditure policy, public debt policy, and deficit financing. In India, the objectives of fiscal policy include mobilizing resources for economic development, increasing investment and savings, reducing poverty and inequality, and generating employment. While fiscal policy has contributed to India's capital formation and development, it also faces limitations such as a weak policymaking machinery, political influences, and a high interest burden from public debt. Reforms are needed to improve fiscal policy, including rationalizing the tax structure.
This document discusses monetary and fiscal policy in India. It defines monetary policy as how the central bank controls money supply through interest rates to maintain price stability and economic growth. It describes various monetary policy tools used by the Reserve Bank of India including bank rate, open market operations, statutory liquidity ratio, cash reserve ratio, repo rate, and reverse repo rate. The document also defines fiscal policy as government policy regarding taxation and expenditures. It outlines objectives of fiscal policy such as development, employment, income distribution, and economic activity. Instruments of fiscal policy include taxation, expenditure, and methods of funding deficits.
This document discusses fiscal policy and its objectives. It provides information on fiscal policy tools used by governments to influence economic growth, employment and prices. The key objectives of fiscal policy are mobilizing resources, accelerating economic growth, minimizing income inequality, increasing employment opportunities, and maintaining price stability. Examples of fiscal tools include taxation, public expenditure, borrowing. The document also summarizes Indian fiscal policy goals of rapid growth, employment expansion, reducing disparities.
Fiscal policy involves the government making discretionary changes to taxation, expenditures, and borrowings to achieve macroeconomic goals. It is an essential tool for overcoming recessions and inflation as well as promoting economic growth. Fiscal policy instruments include changes to budget deficits or surpluses, the level and composition of government expenditures, taxation levels and types, public debt, and deficit financing. The government uses these tools to target variables like disposable income, consumption, savings and investment to influence the overall economy.
Fiscal policy refers to the government's spending and tax policies. It aims to achieve macroeconomic goals such as economic growth, employment generation, price stability, and balanced regional development. The key instruments of fiscal policy are government expenditure, government revenue, public debt, and budgetary surplus/deficit. Government expenditure includes spending on goods/services, wages, public investments, and transfer payments. Government revenue comes from taxes, which can be direct taxes like income tax or indirect taxes like VAT. Public debt includes borrowing from the public and central bank as well as external borrowing from international organizations. The budget aims to balance revenue receipts against expenditure payments.
The document summarizes key aspects of India's Fiscal Responsibility and Budget Management (FRBM) Act. It introduces the FRBM Act, which aims to reduce the fiscal deficit, budget deficit, and revenue deficit. It discusses how pre-FRBM, the Reserve Bank of India financed government deficits through monetary policy, but post-FRBM, the government must borrow from markets. It also outlines how the FRBM Act improved transparency of fiscal operations and the government securities market through auction processes and price discovery.
Fiscal policy deals with the taxation and expenditure decisions made by governments to influence macroeconomic variables. It has several components, including tax policy, expenditure policy, and debt management. The main objectives of fiscal policy are to achieve economic growth and stability, optimal resource allocation, income distribution, full employment, and poverty alleviation. Recent trends in India's fiscal policy include efforts to consolidate the budget and reduce the fiscal deficit through measures like rationalizing subsidies, increasing tax revenues, and easing inflation. The 2013-14 budget continues this consolidation with tax increases and reductions in customs duties on some goods.
Position paper on finance planning and economic developmentCSBAG_Uganda
The paper containing alternative budget proposals for FY 2013/14 was presented by CSBAG to the Parliament committee on finance planning and economic development.
Fiscal policy involves a government adjusting its spending and tax rates to influence the economy. The objectives of fiscal policy include full employment, reducing inequality, price stability, and economic development. Public revenue comes from tax receipts like direct taxes on individuals/corporations and indirect taxes on goods/services. It also comes from non-tax receipts like interest. Public expenditure consists of revenue expenditure on current needs and capital expenditure on infrastructure. India's fiscal policy has shifted from indirect taxes to more direct taxes since independence. The 2017 budget aims to transform, energize and clean the economy through initiatives for farmers, MGNREGA, affordable housing, and promoting a digital India.
Fiscal Policy trends in India: Since IndependenceKashyap Shah
The document discusses India's fiscal policy trends from post-independence to present day. It summarizes that early on, fiscal policy focused on stimulating growth and reducing inequality through high government expenditure and taxation. This led to budget deficits. Economic reforms since 1991 have focused on reducing deficits through tax cuts, expenditure reforms, and greater fiscal responsibility. The Fiscal Responsibility and Budget Management Act of 2003 aimed to further improve fiscal discipline.
The Fiscal Responsibility and Budget Management (FRBM) Act was enacted in 2003 to bring fiscal discipline to India's budget and reduce deficits. The Act aimed to eliminate revenue deficit and lower fiscal deficit to 3% of GDP by 2008 through limits on fiscal and revenue deficits. While some targets were met briefly, international crises caused the deadlines to be suspended. The FRBM Act requires regular reporting to Parliament on the country's fiscal policy and macroeconomic indicators to improve management of public funds.
This document discusses aggregate demand, aggregate supply, and equilibrium. It explains that aggregate demand is a downward sloping curve showing the quantity of output buyers will purchase at different price levels. Aggregate supply is an upward sloping curve showing the quantity firms will produce at different price levels. Equilibrium occurs where aggregate demand and supply intersect, determining output and price. The document outlines factors that shift these curves and cause inflation or recession. It also discusses how fiscal policy uses government spending and taxes to shift aggregate demand to stabilize the economy.
Fiscal policy deals with government taxation and spending decisions. The key instruments of fiscal policy are the budget, taxation, public expenditure, public revenue, public debt, and fiscal deficit. Fiscal policy can be either expansionary, which stimulates economic growth through tax cuts or increased spending, or contractionary, which slows growth through tax increases or spending cuts. The current US fiscal policy has led to massive government debt levels, with mandatory spending on programs like Social Security, Medicare and Medicaid accounting for most of the budget. The objectives of fiscal policy include mobilizing resources, reducing inequality, price stability, employment generation, balanced regional development, improving the balance of payments, increasing national income, developing infrastructure, and earning foreign exchange.
The document discusses fiscal policy in India. It defines fiscal policy and its objectives of ensuring rapid economic growth and development through mobilizing financial resources via taxation, public savings, and private savings. It then analyzes causes of fiscal imbalance such as increasing subsidies, interest payments, defense spending, poor public sector performance, tax evasion, and government borrowing. It concludes by outlining approaches to reduce expenditure and raise funds to address fiscal imbalance under India's new fiscal policy framework.
Impact of FRBM Act, Monetary policy and Budetary Deficit on Govt Securities n...C.A Saumya
This document discusses the FRBM framework, budget deficits, and monetary policy in India. It provides context on government securities, the FRBM Act, and budget and fiscal deficits. It then explains how monetary policy tools like open market operations, cash reserve ratios, and repo rates are used to manage money supply and inflation. Finally, it discusses the interrelationships between budget deficits, government borrowing, interest rates, and national debt accumulation, as well as reforms needed like a revised FRBM Act and improved fiscal management.
Fiscal policy uses government spending and taxation to influence the economy. It aims to achieve economic stability without inflation or deflation. The government collects revenues through taxes, fees, fines, and loans, then spends money on productive investments like infrastructure and non-productive services like education and health. The budget shows estimated receipts and expenditures. Fiscal policy can be neutral, expansionary, or contractionary depending on whether spending equals, exceeds, or is less than tax revenue. While fiscal policy aims to evenly distribute wealth and resources, limitations include inadequate data and delayed decision-making.
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.
This document summarizes a paper that assesses India's current fiscal situation and examines reforms needed to improve fiscal policy. It finds that India faces a potentially grave fiscal crisis that could lead to economic problems. While deficits were reduced in the 1990s, they have widened again since 1997-98. The paper calls for controlling deficits but notes this must be done through broader reforms of fiscal, monetary, exchange rate, and institutional policies. It argues a theoretical framework is needed to analyze these linkages and the long-term impacts of short-term adjustment programs. Such a framework could provide a basis for empirical modeling to inform policymaking.
The document provides an overview of monetary and fiscal policy in India. It discusses the objectives and key instruments of monetary policy implemented by the Reserve Bank of India, including open market operations, cash reserve ratio, statutory liquidity ratio, and repo and reverse repo rates. It also covers inflation targeting and factors affecting monetary policy. For fiscal policy, it outlines the role of the central government budget in taxation and expenditure. It discusses fiscal deficit, changes in the 2013-14 budget to curb the deficit, and reviews fiscal and monetary policy challenges in India like high deficit, currency depreciation and lower growth.
The budget projects decreasing federal deficits over the next few years, with a surplus projected for 2015-2016. To achieve this, the budget outlines spending cuts of $5.2 billion annually by 2016 through reductions to all government departments. There were no changes to personal or corporate income tax rates, but the eligibility age for Old Age Security will gradually increase from 65 to 67 between 2023 and 2029.
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.
Monetary policy manages the money supply through tools like adjusting interest rates, purchasing or selling government securities, and changing required bank reserves. It aims to regulate inflation, unemployment, and currency exchange rates. Johnson defines monetary policy as employing central bank control of the money supply to achieve general economic policy goals, while Shaw defines it as conscious actions to change the quantity, availability, or cost of money.
The document provides information about monetary policy and fiscal policy. It defines monetary policy as actions by a central bank that determine the money supply and interest rates. It discusses the objectives, tools, and limitations of both monetary policy and fiscal policy. Monetary policy tools include interest rates, reserve requirements, and open market operations. Fiscal policy tools include taxation, government spending, and public debt. Both policies aim to achieve objectives like price stability and economic growth but face challenges like time lags and crowding out effects.
The American Community Survey (ACS) is an ongoing survey that provides annual demographic, social, and economic data to local communities. It was created to provide more timely data than the decennial census, which only collects data every 10 years. Businesses can use ACS data for market analysis, planning, and economic development. The document provides examples of how Target and a multi-state business use ACS data for decision making.
Fiscal policy involves the government making discretionary changes to taxation, expenditures, and borrowings to achieve macroeconomic goals. It is an essential tool for overcoming recessions and inflation as well as promoting economic growth. Fiscal policy instruments include changes to budget deficits or surpluses, the level and composition of government expenditures, taxation levels and types, public debt, and deficit financing. The government uses these tools to target variables like disposable income, consumption, savings and investment to influence the overall economy.
Fiscal policy refers to the government's spending and tax policies. It aims to achieve macroeconomic goals such as economic growth, employment generation, price stability, and balanced regional development. The key instruments of fiscal policy are government expenditure, government revenue, public debt, and budgetary surplus/deficit. Government expenditure includes spending on goods/services, wages, public investments, and transfer payments. Government revenue comes from taxes, which can be direct taxes like income tax or indirect taxes like VAT. Public debt includes borrowing from the public and central bank as well as external borrowing from international organizations. The budget aims to balance revenue receipts against expenditure payments.
The document summarizes key aspects of India's Fiscal Responsibility and Budget Management (FRBM) Act. It introduces the FRBM Act, which aims to reduce the fiscal deficit, budget deficit, and revenue deficit. It discusses how pre-FRBM, the Reserve Bank of India financed government deficits through monetary policy, but post-FRBM, the government must borrow from markets. It also outlines how the FRBM Act improved transparency of fiscal operations and the government securities market through auction processes and price discovery.
Fiscal policy deals with the taxation and expenditure decisions made by governments to influence macroeconomic variables. It has several components, including tax policy, expenditure policy, and debt management. The main objectives of fiscal policy are to achieve economic growth and stability, optimal resource allocation, income distribution, full employment, and poverty alleviation. Recent trends in India's fiscal policy include efforts to consolidate the budget and reduce the fiscal deficit through measures like rationalizing subsidies, increasing tax revenues, and easing inflation. The 2013-14 budget continues this consolidation with tax increases and reductions in customs duties on some goods.
Position paper on finance planning and economic developmentCSBAG_Uganda
The paper containing alternative budget proposals for FY 2013/14 was presented by CSBAG to the Parliament committee on finance planning and economic development.
Fiscal policy involves a government adjusting its spending and tax rates to influence the economy. The objectives of fiscal policy include full employment, reducing inequality, price stability, and economic development. Public revenue comes from tax receipts like direct taxes on individuals/corporations and indirect taxes on goods/services. It also comes from non-tax receipts like interest. Public expenditure consists of revenue expenditure on current needs and capital expenditure on infrastructure. India's fiscal policy has shifted from indirect taxes to more direct taxes since independence. The 2017 budget aims to transform, energize and clean the economy through initiatives for farmers, MGNREGA, affordable housing, and promoting a digital India.
Fiscal Policy trends in India: Since IndependenceKashyap Shah
The document discusses India's fiscal policy trends from post-independence to present day. It summarizes that early on, fiscal policy focused on stimulating growth and reducing inequality through high government expenditure and taxation. This led to budget deficits. Economic reforms since 1991 have focused on reducing deficits through tax cuts, expenditure reforms, and greater fiscal responsibility. The Fiscal Responsibility and Budget Management Act of 2003 aimed to further improve fiscal discipline.
The Fiscal Responsibility and Budget Management (FRBM) Act was enacted in 2003 to bring fiscal discipline to India's budget and reduce deficits. The Act aimed to eliminate revenue deficit and lower fiscal deficit to 3% of GDP by 2008 through limits on fiscal and revenue deficits. While some targets were met briefly, international crises caused the deadlines to be suspended. The FRBM Act requires regular reporting to Parliament on the country's fiscal policy and macroeconomic indicators to improve management of public funds.
This document discusses aggregate demand, aggregate supply, and equilibrium. It explains that aggregate demand is a downward sloping curve showing the quantity of output buyers will purchase at different price levels. Aggregate supply is an upward sloping curve showing the quantity firms will produce at different price levels. Equilibrium occurs where aggregate demand and supply intersect, determining output and price. The document outlines factors that shift these curves and cause inflation or recession. It also discusses how fiscal policy uses government spending and taxes to shift aggregate demand to stabilize the economy.
Fiscal policy deals with government taxation and spending decisions. The key instruments of fiscal policy are the budget, taxation, public expenditure, public revenue, public debt, and fiscal deficit. Fiscal policy can be either expansionary, which stimulates economic growth through tax cuts or increased spending, or contractionary, which slows growth through tax increases or spending cuts. The current US fiscal policy has led to massive government debt levels, with mandatory spending on programs like Social Security, Medicare and Medicaid accounting for most of the budget. The objectives of fiscal policy include mobilizing resources, reducing inequality, price stability, employment generation, balanced regional development, improving the balance of payments, increasing national income, developing infrastructure, and earning foreign exchange.
The document discusses fiscal policy in India. It defines fiscal policy and its objectives of ensuring rapid economic growth and development through mobilizing financial resources via taxation, public savings, and private savings. It then analyzes causes of fiscal imbalance such as increasing subsidies, interest payments, defense spending, poor public sector performance, tax evasion, and government borrowing. It concludes by outlining approaches to reduce expenditure and raise funds to address fiscal imbalance under India's new fiscal policy framework.
Impact of FRBM Act, Monetary policy and Budetary Deficit on Govt Securities n...C.A Saumya
This document discusses the FRBM framework, budget deficits, and monetary policy in India. It provides context on government securities, the FRBM Act, and budget and fiscal deficits. It then explains how monetary policy tools like open market operations, cash reserve ratios, and repo rates are used to manage money supply and inflation. Finally, it discusses the interrelationships between budget deficits, government borrowing, interest rates, and national debt accumulation, as well as reforms needed like a revised FRBM Act and improved fiscal management.
Fiscal policy uses government spending and taxation to influence the economy. It aims to achieve economic stability without inflation or deflation. The government collects revenues through taxes, fees, fines, and loans, then spends money on productive investments like infrastructure and non-productive services like education and health. The budget shows estimated receipts and expenditures. Fiscal policy can be neutral, expansionary, or contractionary depending on whether spending equals, exceeds, or is less than tax revenue. While fiscal policy aims to evenly distribute wealth and resources, limitations include inadequate data and delayed decision-making.
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.
This document summarizes a paper that assesses India's current fiscal situation and examines reforms needed to improve fiscal policy. It finds that India faces a potentially grave fiscal crisis that could lead to economic problems. While deficits were reduced in the 1990s, they have widened again since 1997-98. The paper calls for controlling deficits but notes this must be done through broader reforms of fiscal, monetary, exchange rate, and institutional policies. It argues a theoretical framework is needed to analyze these linkages and the long-term impacts of short-term adjustment programs. Such a framework could provide a basis for empirical modeling to inform policymaking.
The document provides an overview of monetary and fiscal policy in India. It discusses the objectives and key instruments of monetary policy implemented by the Reserve Bank of India, including open market operations, cash reserve ratio, statutory liquidity ratio, and repo and reverse repo rates. It also covers inflation targeting and factors affecting monetary policy. For fiscal policy, it outlines the role of the central government budget in taxation and expenditure. It discusses fiscal deficit, changes in the 2013-14 budget to curb the deficit, and reviews fiscal and monetary policy challenges in India like high deficit, currency depreciation and lower growth.
The budget projects decreasing federal deficits over the next few years, with a surplus projected for 2015-2016. To achieve this, the budget outlines spending cuts of $5.2 billion annually by 2016 through reductions to all government departments. There were no changes to personal or corporate income tax rates, but the eligibility age for Old Age Security will gradually increase from 65 to 67 between 2023 and 2029.
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.
Monetary policy manages the money supply through tools like adjusting interest rates, purchasing or selling government securities, and changing required bank reserves. It aims to regulate inflation, unemployment, and currency exchange rates. Johnson defines monetary policy as employing central bank control of the money supply to achieve general economic policy goals, while Shaw defines it as conscious actions to change the quantity, availability, or cost of money.
The document provides information about monetary policy and fiscal policy. It defines monetary policy as actions by a central bank that determine the money supply and interest rates. It discusses the objectives, tools, and limitations of both monetary policy and fiscal policy. Monetary policy tools include interest rates, reserve requirements, and open market operations. Fiscal policy tools include taxation, government spending, and public debt. Both policies aim to achieve objectives like price stability and economic growth but face challenges like time lags and crowding out effects.
The American Community Survey (ACS) is an ongoing survey that provides annual demographic, social, and economic data to local communities. It was created to provide more timely data than the decennial census, which only collects data every 10 years. Businesses can use ACS data for market analysis, planning, and economic development. The document provides examples of how Target and a multi-state business use ACS data for decision making.
The document discusses costs of production in the short run under perfect competition. It defines short run as a period where at least one resource is fixed, such as plant capacity. It explains the differences between explicit costs that accountants consider and both explicit and implicit opportunity costs that economists consider. The document also defines different types of costs like total, variable, fixed, average, and marginal costs. It provides an example to calculate these different costs and explains why the marginal cost curve is U-shaped due to the law of diminishing marginal returns.
This document provides an agenda and details for a new student orientation at CDS High School. The agenda includes welcome remarks, faculty introductions, award announcements, a review of schedules, policies, and extracurricular activities. It also lists the house teachers and students assigned to each house. The orientation reviews topics like attendance, grades, graduation requirements, conduct policies, dress code, technology use, and sports tryouts.
This document discusses the opportunities and risks of nanotechnology. It describes several applications of nanotechnology in domains like food, agriculture, medicine, energy, and more. However, it also notes health and environmental risks are not fully understood due to lack of information. The document advocates applying the precautionary principle and producing new knowledge on nanoparticle toxicity through research to help manage these risks.
The document describes a 4-day tour package crafted by Tripper, a Sri Lankan tour company, for Malaysian friends visiting Sri Lanka, including accommodations in Kandy and Nuwara Eliya, visits to attractions like Horton Plains National Park, visits to temples and landmarks in Kandy and Colombo, and aims to help visitors fall in love with Sri Lanka and collect treasured memories through Tripper's passion and local knowledge.
This document provides information about the FBISD 2013 Educational Technology Conference, including:
- The conference theme is "Leading & Learning with Technology: Mission Possible" to promote technology as integral to education.
- It will include engaging sessions, speakers, and exhibits on the latest educational technology to help educators increase their technology skills.
- The goal is to improve student achievement through technology integration and 21st century skills.
- The conference schedule provides the agenda with sessions on various technology topics to help educators apply new ideas in their classrooms.
1. Thermochemistry examines energy changes that occur during chemical reactions and changes in state.
2. Energy can be transferred as heat or work. Exothermic processes release heat to the surroundings while endothermic processes absorb heat from the surroundings.
3. The specific heat of a substance depends on its mass and chemical composition and determines how much its temperature changes when heat is added or removed. Water has a high specific heat.
This chapter discusses income, poverty, and health care. It begins by examining the distribution of income using Lorenz curves and analyzing factors that contribute to income differences such as age, productivity, inheritance, and discrimination. It then discusses theories of desired income distribution before analyzing poverty measurement, programs to address poverty, and challenges in reducing poverty rates. The chapter concludes by reviewing rising health care costs in the US and components of the new national health insurance program, including its potential economic effects like increased spending and moral hazard.
2007: Benjamin's House - Making Braille reading and writing fun for childrenJonathan Hassell
Presentation given by Jonathan Hassell (Accessibility Editor, BBC jam) and Nick Kind (Spark Learning) at Techshare 2007.
Covers: how Braille displays and audio content can transform a blind five-year old's learning; how Spark-Tinopolis created Benjamin's House as an eLearning game to help blind children to learn English and Braille literacy (both reading and writing); how we got Benjamin Zephaniah to contribute poems and be the host of the game; how we created an aurally compelling game world; how materials created
This document contains information about opportunity costs and trade-offs from an economics textbook. It discusses key concepts like scarcity, production possibilities curves, and opportunity cost. It provides examples to illustrate these, such as the opportunity cost of 17 minutes of labor being time spent watching TV and sleeping. Graphs and diagrams show trade-offs societies and individuals face between different goods when resources are limited.
Sportiek is een wintersportspecialist en helpt graag iedereen die op zoek is naar hun ideale wintersportvakantie.
Sportiek onderscheidt zich door:
• het aanbieden van Nederlandse skileraren tijdens de schoolvakantieweken voor kinderen van ca. 5 tot 10 jaar. En de gehele winter Nederlandstalige reisleiding die diverse activiteiten organiseert zoals een rodelavond met glühwein, een sneew-BBQ en nog veel meer activiteiten.
• het unieke persoonlijke contact wat zij heeft meer haar gasten. Het Sportiek-personeel is ervaren en adviseert / offreert geheel vrijblijvend.
• Zeer scherpe prijzen door lage overheadkosten en het uitsluiten van tussenschakels zoals de reisbureaus
• al ruim 25 jaar haar expertise heeft kunnen uitdiepen en zich nu een “Les Sybelles-specialist” mag noemen.
• Sportiek lid is van Respect the Mountains en informeert haar bergsporters over het behoud van de natuur en leefomgeving in de bergen.
Wintersportbestemmingen Frankrijk:
SKIGEBIED : SKIDORP :
Les Sybelles (310 km): -Saint Jean d’Arves
-Saint Sorlin d’Arves
-La Toussuire
-Le Corbier
Grand Rousses (250 km) : -Oz-en-Oisans
Le Grand Domaine (165 km) : -Saint Francois Longchamp
Valcenis Vanoise (125 km) : -Val Cenis
Galibier Thabor (150 km) : -Valloire
Espace Diamant (185 km) : -Notre Dame de Bellecombe
La Norma (172 km) : -La Norma
Wintersportbesemmingen Italië :
SKIGEBIED : SKIDORP :
Paganella Dolomiti (150 km) : -Andalo
-Fai della Paganella
Brenta Dolomieten (150 km) : -Pinzolo
Fiscal policy involves discretionary changes to government spending and taxes to achieve economic goals like high employment, price stability, and economic growth. An increase in spending or tax cut expands aggregate demand, while a spending cut or tax increase contracts it. However, fiscal policy faces offsets like crowding out private investment. It also has long and variable time lags making timely responses difficult. Automatic stabilizers like unemployment insurance partially offset downturns. While fiscal policy may be ineffective in normal times, it can boost demand during severe downturns like the Great Depression.
The document discusses how the tax laws have become increasingly complicated, leading many Americans to rely on tax preparation software or services. It then provides learning objectives and definitions for key terms related to fiscal policy, including how fiscal policy can be used to influence aggregate demand and stabilize the economy. Several figures and tables are included to illustrate fiscal policy concepts like the government purchases multiplier and effects of expansionary and contractionary fiscal policy.
The document discusses key concepts about taxation and government funding. It begins by explaining that the government budget constraint means spending and revenues must be equal. It then outlines the learning objectives which include distinguishing average and marginal tax rates, explaining the U.S. income tax system, and how tax rates impact tax revenues. The chapter also discusses the major taxes collected by federal, state and local governments and how taxes affect markets.
John Maynard Keynes was a British economist in the early 20th century whose ideas had a major impact on modern economic theory and government fiscal policy. He advocated for interventionist government policies using fiscal and monetary measures to mitigate the adverse effects of economic downturns. Keynesians believe the government can use changes in spending and taxes to influence aggregate demand and achieve goals like high employment and price stability. However, fiscal policy does not operate in isolation and may be offset by factors like crowding out of private sector spending or individuals anticipating future tax changes.
This chapter discusses deficit spending and the public debt. It begins with an introduction to the topic and learning objectives. The US government has run deficits for most years since 1940, with spending exceeding tax revenue. This deficit is financed by issuing government bonds. The public debt refers to the total value of outstanding government securities and is a stock that accumulates over time from annual deficits. Rising debt levels could burden future generations if not paid down. The chapter outlines ways to reduce government deficits, including increasing taxes, reducing spending, and reforming large entitlement programs.
The document discusses several limitations and challenges of fiscal policy as a tool for economic stabilization. It identifies 13 issues that can hamper the effectiveness of fiscal policy: policy lags due to recognition, administrative, and operational delays; difficulties with forecasting economic conditions; challenges determining the appropriate size and timing of fiscal measures; the selective nature of fiscal policy; potential inadequacy or self-offsetting effects of fiscal actions; unintended impacts on income redistribution; issues related to maintaining employment incentives; problems of growing public debt over time; potential adverse psychological reactions; additional difficulties implementing fiscal policy in underdeveloped economies; and administrative challenges in democratic systems with longer legislative and approval processes.
This document discusses key aspects of fiscal policy and the federal budget in the United States. It begins by defining the federal budget and its two main purposes of financing government activities and achieving macroeconomic goals. It then explains how fiscal policy uses changes in government spending and taxes to influence aggregate demand and achieve full employment, inflation control, and economic growth. The document also discusses the effects of expansionary and contractionary fiscal policy, discretionary versus built-in (automatic) fiscal policy, and how to evaluate the stance of fiscal policy using cyclically adjusted budget deficits and surpluses.
Fiscal policy involves the use of government spending, taxation, and borrowing to influence aggregate demand, output, and employment. It can also be used to alter income distribution and address market failures. Changes to fiscal policy impact both aggregate demand and aggregate supply. Key tools of fiscal policy include public spending on areas like infrastructure and welfare, as well as taxes which can be direct or indirect, progressive, proportional, or regressive. Fiscal policy aims to stabilize the economic cycle and promote competitiveness, and the appropriate use of budget deficits can support aggregate demand. However, high public debt levels may increase borrowing costs and future taxes.
Fiscal policy aims to stabilize economic growth and smooth the business cycle using the federal budget. It can use expansionary or contractionary fiscal policy to respectively increase or decrease aggregate demand by increasing or decreasing government spending and taxes. Expansionary policy is used to stimulate the economy during recessions, while contractionary policy is used during booms. Fiscal policy implementation involves both automatic stabilizers and discretionary changes to policy and faces limitations such as political conflicts, time lags, and potential budget deficits.
Psoj Economic Policy Framework January 2010guest8b0934
The document outlines the PSOJ's economic policy framework to achieve high rates of sustained economic growth and employment in Jamaica. It identifies that ensuring macroeconomic stability is necessary but not sufficient, and recommends meaningful reductions in debt servicing and public sector wages through debt management reforms, rationalizing the public sector, and budget process reforms. It also recommends reforming Jamaica's complex, inefficient and unfair tax system.
Psoj Economic Policy Framework January 2010guestd05908f
The document outlines the PSOJ's economic policy framework to achieve high rates of sustained economic growth and employment in Jamaica. It makes the following key points:
1) Jamaica has deep economic imbalances, with 84% of government spending going to interest and public sector pay, leaving little for critical programs. The debt level is extremely high at 137% of GDP.
2) Ensuring macroeconomic stability through meaningful reductions in debt servicing and public sector wages, and reforming the budget process, is necessary to improve Jamaica's economic situation.
3) Reforming the tax system is also important as the current system is complex, inefficient and unfair, making it difficult for businesses to pay taxes.
Fiscal policy uses government spending, taxes, and borrowing to influence macroeconomic variables. Expansionary fiscal policy, such as tax cuts or increased spending, increases aggregate demand to boost a recession-plagued economy. Contractionary fiscal policy, like tax increases or spending cuts, decreases aggregate demand to curb inflation. Automatic stabilizers like unemployment insurance and the progressive tax system counter cyclical changes automatically. Discretionary policy actively manipulates fiscal tools but faces time lags and crowding out effects.
This document discusses five debates around macroeconomic policy: 1) whether monetary and fiscal policy should stabilize the economy, 2) whether monetary policy should be rules-based or discretionary, 3) whether the central bank should target zero inflation, 4) whether the government should balance its budget, and 5) whether tax laws should encourage more saving. For each debate, arguments on both sides are presented.
The document discusses expectations for the upcoming Indian budget. It provides context on the current strong economic growth outlook in India and top expectations. The key expectations are:
1) Focus on infrastructure development and asset monetization to fund infrastructure investments.
2) Stimulate MSMEs to create jobs and boost demand by addressing their challenges and improving access to credit.
3) Support disproportionately impacted sectors like travel and hospitality with revival plans and contingency measures for uncertainties.
The document provides guidance on writing a 25-mark economics essay, including common question types, content areas to discuss, and components of aggregate demand and supply. It discusses how fiscal and monetary policy can be used expansionary or contractionarily to influence economic growth. The government faces difficulties boosting growth, as measures to increase demand risk higher inflation and balance of payments deficits, conflicting with objectives. Supply-side policies may help manage issues, requiring coordination of monetary and fiscal approaches for sustainable growth.
Fiscal policy uses government spending and taxation to influence economic activity. However, many economists and the CBO believe fiscal policy has little impact and that the economy is determined by private markets. The article argues that fiscal policy will need to be substantially expanded through increased government spending to avoid a prolonged recession, contradicting the current political view. It concludes that private borrowing cannot sustain the current expansion indefinitely and fiscal stimulus will be needed.
The document provides an overview and analysis of the 2014 Australian Federal Budget. Key points include:
- The budget forecasts a deficit of $29.8 billion for 2014/15.
- Individual tax rates will increase with the introduction of a 2% deficit levy and increase to the Medicare levy.
- Superannuation guarantee rates will increase to 9.5% but then be frozen until 2018.
- The excess non-concessional contributions tax will be abolished and replaced with inclusion of earnings in personal tax returns.
Monetary policy is a set of tools that a nation's central bank has available to promote sustainable economic growth by controlling the overall supply of money that is available to the nation's banks, its consumers, and its businesses.
The document provides an overview of market failures and the role of government in addressing them. It discusses four main types of market failures: public goods, externalities, monopolies, and unfair distribution of income. For each market failure, it explains how unregulated free markets can lead to inefficient outcomes and why government intervention may be needed. For example, it describes how public goods pose a free-rider problem that prevents private markets from efficiently providing them, and how externalities cause the market to over- or under-produce goods due to costs and benefits not being fully reflected in market prices. The document aims to explain the economic rationale for government policies that address these various market failures.
Here are the answers to identify the resource and shifter:
1. Increase in the demand for microprocessors leads to an increase in the demand for processor assemblers.
2. Increase in the price for plastic piping causes the demand for copper piping to increase.
3. Increase in demand for small homes (compared to big homes) leads to an increase in the demand for lumber.
4. For shipping companies, decrease in price of trains leads to decrease in demand for trucks.
5. Decrease in price of sugar leads to an increase in the demand for aluminum for soda producers.
6. Substantial increase in education and training leads to an increase in demand for skilled labor.
The document discusses monopolies and imperfect competition. It defines monopolies as markets with a single seller and high barriers to entry. Monopolies are inefficient as they produce less output and charge higher prices than would occur under perfect competition. This results in deadweight loss to society. The government may regulate monopolies through price ceilings to increase output and efficiency. Price discrimination is also discussed, which is when a firm charges different prices to different groups of consumers to maximize profits.
This document summarizes the WASC/CDS accreditation process for 2014-2015 and the school's previous action plan from 2012-2015. It outlines 7 goals that were achieved, including developing standardized student handbooks, language policies, technology plans, a K-12 curriculum, and college counseling program. It also notes the universities that students were admitted to for 2014-2015. The document concludes by introducing the school's new action plan for 2015-2021, which contains 8 goals focused on developing the school as a learning community, integrating technology, using data analysis, forming international partnerships, clarifying roles and policies, improving communication, evaluating support services, and supporting English language learners.
This document provides an overview of supply, demand, and consumer choice concepts including:
- Definitions of demand, the law of demand, and factors that cause shifts in demand. Graphs are used to illustrate demand schedules and curves.
- Definitions of supply, the law of supply, and factors that cause shifts in supply. Graphs are used to illustrate supply schedules and curves.
- How supply and demand interact in a market to determine equilibrium price and quantity. Examples are provided to show the effects of price changes on surpluses and shortages.
- Concepts of consumer surplus, producer surplus, and total surplus are introduced using graphs.
- Government policies that can impact markets are
The document provides an overview of basic economic concepts. It defines economics as the study of how individuals and societies deal with scarcity. Scarcity means that resources are limited and not enough to satisfy all wants, so choices must be made. Microeconomics studies small economic units like individuals and firms, while macroeconomics looks at the overall economy. Positive statements are factual, while normative statements include value judgments. Economists use theories and models to understand and address economic problems. The concepts of opportunity cost, marginal analysis, and supply and demand are introduced.
The document provides an overview of basic economic concepts. It discusses:
- Economics is the study of how individuals and societies deal with scarcity. Scarcity means that resources are limited and our wants are unlimited, so we must make choices about how to use resources.
- Microeconomics studies small economic units like individuals and firms, while macroeconomics looks at the overall economy. Positive economics makes factual statements, while normative economics includes value judgments.
- The production possibilities curve (PPC) model shows the tradeoffs between producing different goods given limited resources. Points on the PPC are productively efficient, while the optimal point depends on societal wants.
- Comparative advantage explains why countries
High School Orientation for Middle school parents presentationMalcolm Harrison
This document contains information about the CDS High School for the 2015-2016 school year. It includes the names and roles of the administrative staff, the colleges that 2015 graduates were accepted to, an overview of the school calendar and curriculum requirements, course offerings by grade, sports records from 2013-2014, and facilities information. It also outlines policies regarding dress code, language, discipline, and technology as well as information about the grading scale and academic probation.
This senior project combines SparksNotes and news summaries to create video summaries of 4 novels: Romeo and Juliet, The Great Gatsby, Pride and Prejudice, and The Kite Runner. The objective is to indirectly teach younger high school students about different aspects of literature using movie clips while showcasing the student's learning over high school, particularly in English which was their most memorable subject. The project involved watching movies, writing scripts, recording with a green screen, editing with iMovie, and support from a mentor teacher and internet resources.
This senior project involves creating a combination SparksNotes and news-style video series summarizing and analyzing four novels: Romeo and Juliet, The Great Gatsby, Pride and Prejudice, and The Kite Runner. The objective is to indirectly teach younger high school students about English literature and show the creator's learning over high school, with a focus on different literary elements in each book. The project will entail watching movies, writing scripts, recording with a green screen, editing, and using resources like a mentor, internet research, iMovie, and the source books.
The document provides information about schedule changes and extracurricular clubs available at a high school. It notes that 9th grade Drama has changed to a free period and 10th grade Drama and World History classes have been rescheduled. Various clubs are described, including orchestra, sports from around the world, poetry and drawing, business and entrepreneurship, yearbook, robot programming, IT programming, band, cooking, audio production, high school musical, yoga, meditation, traditional Korean percussion music, vlogging, and swimming.
The document provides details about an upcoming cross country (XC) running event at CDS campus on October 10th. It outlines the schedule for the middle school and high school races, including start times, locations of check points along the course maps, and staff assignments at check points and other roles. Key responsibilities of check point staff are to ensure student safety, hold signs with distances, and report on the running situation. The document also specifies dress codes, prizes, water, lunch, and shuttle bus information for the event.
This document discusses the WASC accreditation process for CDS school for the 2014-2015 school year. It explains that CDS is currently in year 2 of the 6-year process. The school's goals are to involve all staff and stakeholders, create a continuous WASC process, and improve the school. To receive accreditation, the school must complete a self-study report and single plan for student achievement. The self-study will be completed by leadership, home, and focus groups to analyze student achievement and how the school supports it. The focus groups will examine criteria related to student learning, curriculum/instruction/assessment, student growth, and resource management.
This document provides an overview of a 12th grade "Back to School" evening at CDS High School. It includes the schedule for the evening, information about class websites and upcoming sports fixtures. It also provides details on course expectations and grading policies for several 12th grade courses, including English, Calculus, Statistics, Physics, Economics, Chemistry, Environmental Science and Visual Arts. Information is also included on Drama, Senior Projects, World Languages and P.E. classes.
The document provides an orientation schedule and information for a new school year, including:
- An introduction from the Head of School and administrators
- The orientation schedule for the first few days with activities like laptop distribution, classroom assignments, and a BBQ
- The school calendar for 2014-2015 and class timetables for the different divisions (programs)
This document provides information about the staff, curriculum, and policies at a school. It introduces the head of school and other administrators. It then lists the required subjects and credits needed for graduation. Finally, it provides course selection forms for grades 9-11, outlining prerequisites and requirements for choosing classes.
The document provides an overview of the curriculum, course selections, senior projects, internships, grade remediation, and early graduation options available at a Korean college counseling high school. It includes sample course schedules and requirements for 9th through 12th grades as well as guidelines for selecting classes each year. Senior project guidelines outline physical, written, performance, teaching, career-related, and service project ideas. Information is also provided on the benefits of internships and requirements for hosting a student. Finally, the grade remediation process for failed courses is summarized.
This chapter discusses fiscal policy and the government's use of spending and taxation to influence economic activity. It covers the US government's fiscal response to the 2008 recession through the American Recovery and Reinvestment Act. The chapter objectives are to evaluate the effects of discretionary fiscal policy, discuss potential offsets that can reduce its effectiveness, and explain fiscal policy tools like automatic stabilizers. It also discusses challenges like time lags in fiscal policy that complicate using it to precisely manage economic conditions.
This document outlines the requirements and process for early graduation from CDS High School in 2015. Students must complete 22 credits, maintain above a 3.0 GPA, and gain approval from their counselor and teacher. They must apply before the end of 11th grade and create a study plan to complete all English requirements in 3 terms instead of 5. If accepted to a Korean university in December, students can drop unneeded subjects after submitting acceptance. Final approval depends on completing the study plan, maintaining attendance, and avoiding academic dishonesty. The maximum grade that can be earned is a B+ and transcripts will note incomplete courses.
This document outlines the WASC accreditation process for CDS school for the 2014-2015 school year. It discusses that CDS is currently in year 2 of the 6 year accreditation cycle. The school is assessing progress on recommendations from the 2012 visit. The goals for this year are to involve all staff and stakeholders, create an effortless continuous process, and improve the school. The self-study process involves leadership, home, and focus groups analyzing data in the areas of organization, curriculum, support, and resources. The focus groups will gather evidence from home groups to determine if the school meets the 5 outcomes required to receive full 6-year accreditation.