Monetary Policy Framework in the UK Essay Example | Topics and Well Written Essays - 2250 words

Monetary Policy Framework in the UK - Essay Example This essay stresses that there are a number of guiding principles like price stability, exchange stability, full employment and maximum output and a high growth rate etc, in framing the Monetary Policy for an economy. This paper declares that the monetary policy of any country refers to the regulatory policy, whereby the monetary authority maintains its control over the supply of money for the realization of general economic objectives. This involves manipulating the supply of money, the level and structure of interest rates and other conditions affecting the availability of credit. However, in the context of developing economies monetary policy acquires a wider role and it has to be designed to meet the particular requirements of the economy. This involves not merely the restriction of credit expansion to curb inflation, but also the provision of adequate funds to meet the legitimate requirements of industry and trade and curbing the use of credit for unproductive and speculative purposes. The monetary policy of an economy operates through three important instruments, viz. the regulation of money supply, control over aggregate credit and the interest rate policy. Economic growth is dependent on m obilizing savings and directing them into productive channels. In this process, money supply can only play a limited role. However, the role establishes an important connection between money supply, output and price level (ICFAI Center for Management Research (ICMR)). These relationships cannot be ignored even if the primary concern of the government is mobilization of real factors that ultimately lead to economic growth. UK Monetary Policy regime A principal objective of any central bank is to safeguard the value of the currency in terms of what it will purchase. Rising prices - inflation - reduces the value of money. Monetary policy is directed to achieving this objective and providing a framework for non-inflationary economic growth. As in most other developed countries, monetary policy operates in the UK mainly through influencing the price of money - the interest rate. In May 1997 the Government gave the Bank independence to set monetary policy by deciding the level of interest rates to meet the Government's inflation target - currently 2% (Bank of England). The 1998 Bank of England Act made the Bank independent to set interest rates. The Bank is accountable to parliament and the wider public. The legislation provides that if, in extreme circumstances, the national interest demands it, and the Government has the power to give instructions to the Bank on interest rates for a limited period (Bank of England). In the period from the floating of the exchange rate in June 1972 to the granting of operational independence to the Bank of England in May 1997, UK monetary policy went through several regimes. These included the period in the 1970s when monetary policy was considered subordinate to incomes policy as the government's primary weapon against inflation; an emphasis on monetary targeting in the late 1970s and early 1980s; moves from 1987 toward greater management of the exchange rate, culminating in the UK's membership of the Exchange Rate Mechanism (ERM) from

Canadian Aboriginal Law Essay Example | Topics and Well Written Essays - 2000 words

Canadian Aboriginal Law - Essay Example This assists in managing and bonding the interaction between the government and the aboriginals. The aboriginal law was adopted from several sources of legislation since Section 91 (24) of the 1867 Constitution Act gives federal parliament the powers to legislate on matters affecting or relating to the Indians and their reserved land. Such mandate has led to enactment of various legislations including Indian Oil and Gas Act, Indian Act, and First Nations Land Management Act among others as discussed by Elkins (1999 p23). However, there had been a breakdown of the rule of law for Aboriginal people as this paper discusses. The study also describes how breaking the laws affect the Aboriginal people and the involved stakeholders such as the governmental agents. The study points out various aspects of the breakdown of the rule of law and government defiance in respect to aboriginals. The first aspect is the way the Aboriginal people are colonized internally in Canada through processes of cultural suppressions, breaching the trust and promises, legislative, dispossession, and public discriminations. The Aboriginals have no freedom of dispossessing their traditional resources and land in Canada. There had been forced relocations and taking of First Nations’ land and resources that increase the dispossession cases from indigenous people. There has also enforcement and enactment of other policies, laws, and practices perceived to weaken the Aboriginal societies and economies, forcing the people to be assimilated into Canadian mainstreams. The Aboriginal Law reinforces the approach of colonialism by ignoring the fundamental rights of the aboriginal people, especially the rights treaty (Hogg p.631). The Canadian Constitution ironically, recognizes such legislations. Moreover, the federal government of Canada continues to strengthen and maintain the domination of Indian Act by adopting legislations that affect the Aboriginals’ human rights of determining and governing their own political future. The federal government also breaks the law by refusing to fairly, promptly, and equal address several cases of private or governmental theft of Aboriginal’s reserved land and resources. This undermines the rule of law and hinders the aboriginal people from getting their justice. Another aspect is the dishonor of treaties between the government and the Aboriginal people. The treaties gives a fundamental framework for the First Nation people to govern themselves and their cultural diversities be respected by all stakeholders in the country. Unfortunately, the dishonor by the federal government of the treaties means the infringement of law and order. This gives the government an opportunity to oppress the aboriginals, especially discriminating them from better public service deliveries. This results to poor governmental services to the society such as health, water, poor infrastructures, and food safety among other services. Study reveals th at among the diseases such as Tuberculosis are commonly affecting the Aboriginal societies, as compared to un-Aboriginals in Canada. Other diseases such as diabetes were uncommon to the Aboriginal society, but it is currently affecting them at the highest rate as compared to the rest societies in the world (Coon, 2003). This is because the government discriminate them from the medical services such as insurance care system. The life expectancy of Aboriginal people is six years lower than the non-Aboriginal Canadians. This

Theology Proper Essay Example for Free

Theology Proper Essay The study of God is known as Theology Proper. This study is vital in knowing and experiencing the one true God. God goes by many names and He has revealed Himself to us, through His word and though revelation. By studying Theology Proper we can discover much about the Character of God like His attributes, His law and His will. When studying Theology Proper there are two different categories of studying God’s attributes. There are His absolute attributes and His comparative attributes. His absolute attributes are simply who and what God is. God is absolutely Holly, God is absolutely love and God is absolutely Good. These are unchangeable and consistent attributes of God. He can’t be any more or any less of any of these; if He were, He would not be the perfect holy, loving and good God that the Bible teaches. God also has comparative attributes. These attributes are ones that can be more difficult for our human minds to comprehend. God is Omniscient, which means He is all knowing. He knows everything, from every thought to every action that will ever be made. God is Omnipresent; this means that He is everywhere all the time. God is beyond time and space, so in essence no one is ever alone at any given point in time. God is finally Omnipotent, this means that he is all-powerful. God created the earth and rose from the dead. He can do all things and He chooses when to use his divine power for His purpose. God’s law is vital to know when studying Theology Proper. By knowing God’s law for His creation we can better understand His purpose for our lives. The law of God isn’t just an idea of what’s right and wrong, it is an expression of the nature of God. It is a revelation. Through God’s law, creation is controlled and God’s desires are carried out. Because we are sinful by nature, we must live under the law (not necessarily the mosaic law), without the law there can be not judgment or sanctification. The law is necessary for human existence. God is impartial, which means he must judge every violation of His law. Because of God’s perfect nature He cannot overlook the violation of His law. In order to know the Will of God when studying Theology Proper we must realize how this can be done. We can know God’s perfect will through prayer and talking with God. We can learn His will through studying His word and through listening to the Holy Spirit. These are ways God reveals His will to us. We can also know His will through divine circumstance and by being active in our faith. By being closer to God through these examples we are able to better understand God’s will for our lives. In conclusion we can better understand the study of Theology Proper and ultimately, better understand out Creator. Furthering our understanding of God’s attributes, God’s law and God’s will.

Climate Change: The Sciences, the Media, and Politics Essay -- Global W

The roles of science, the media, and politics greatly influence public opinion and understanding of the world around us. These three spheres of information and action are invariably linked when discussing complex global issues like climate change. However, the presentation and resolution of disagreement within the three spheres is incredibly independent. The many ways that climate change, specifically the debate on the existence of climate change, is portrayed within these spheres can greatly affect public emotion, knowledge, and policy of such an issue. This is particularly evident in the United States (US) (Boykoff & Boykoff, 2007). This paper attempts to briefly outline the portrayal and settlement of the debate on the existence of climate change within the three spheres of the sciences, the media, and politics. In the field of science, a well defined procedure exists to create scientific debate and controversy. The procedure begins with the scientific method, a generalized series of steps used to collect data and accept or reject hypotheses. It is important to note that the scientific method exists not only to prove ideas, but also to disprove them and to continually build upon understandings. From data collection and interpretation of the results, a synthesis of the experiment and discoveries made are submitted for peer-review. The peer-review process is formal review from other professionals in the scientific community, and is used to attribute credibility and academic quality to an article prior to publishing (UVictoria). Legitimate arguments in the sciences are based on data and, â€Å"sustained debate within the broader scientific community† (Egger & Carpi, 2010). Thecontinued interest and skepticism in the scientific commun... ...Works "Science" HowStuffWorks, Inc. Web. 07 Nov. 2011. . Seymour, Julia A. "U.S., European Media Worlds Apart on Climate Change." Reuters.com Article Worries 'U.S., European Media' 'Worlds Apart' on Climate Change. Media Research Center - Business & Media Institute, 07 July 2011. Web. 09 Nov. 2011. . "What Does Peer-review Mean?" UVic Library. University of Victoria, 18 Mar. 2011. Web. 07 Nov. 2011. . "The Discovery of Global Warming." Introduction - Summary. American Institute of Physics, May 2010. Web. 09 Nov. 2011. . Climate Change: The Sciences, the Media, and Politics Essay -- Global W The roles of science, the media, and politics greatly influence public opinion and understanding of the world around us. These three spheres of information and action are invariably linked when discussing complex global issues like climate change. However, the presentation and resolution of disagreement within the three spheres is incredibly independent. The many ways that climate change, specifically the debate on the existence of climate change, is portrayed within these spheres can greatly affect public emotion, knowledge, and policy of such an issue. This is particularly evident in the United States (US) (Boykoff & Boykoff, 2007). This paper attempts to briefly outline the portrayal and settlement of the debate on the existence of climate change within the three spheres of the sciences, the media, and politics. In the field of science, a well defined procedure exists to create scientific debate and controversy. The procedure begins with the scientific method, a generalized series of steps used to collect data and accept or reject hypotheses. It is important to note that the scientific method exists not only to prove ideas, but also to disprove them and to continually build upon understandings. From data collection and interpretation of the results, a synthesis of the experiment and discoveries made are submitted for peer-review. The peer-review process is formal review from other professionals in the scientific community, and is used to attribute credibility and academic quality to an article prior to publishing (UVictoria). Legitimate arguments in the sciences are based on data and, â€Å"sustained debate within the broader scientific community† (Egger & Carpi, 2010). Thecontinued interest and skepticism in the scientific commun... ...Works "Science" HowStuffWorks, Inc. Web. 07 Nov. 2011. . Seymour, Julia A. "U.S., European Media Worlds Apart on Climate Change." Reuters.com Article Worries 'U.S., European Media' 'Worlds Apart' on Climate Change. Media Research Center - Business & Media Institute, 07 July 2011. Web. 09 Nov. 2011. . "What Does Peer-review Mean?" UVic Library. University of Victoria, 18 Mar. 2011. Web. 07 Nov. 2011. . "The Discovery of Global Warming." Introduction - Summary. American Institute of Physics, May 2010. Web. 09 Nov. 2011. .

Development of syllabuses in schools Essay

How did the changing role of women and our view of children affect the development of syllabuses in schools? As history progressed peoples attitude towards women and children changed for the better. As a result of the two world wars, women and children were able to prove their importance, enabling them to increase their value within the community. As these changes in our perception of women and children occurred, syllabuses in schools were altered. The 1902 model course was developed, as people believed that it was up to children to do physical training at school to prepare them for war. Although it was grown men that had previously been defeated in the Boer war, the loss was blamed on the lack of physical training provided in schools. This is an example of children being considered important for the future of Britain. The model course, however, soon came under attack as it had children doing exercises designed for adults. As a result of this a new syllabus was introduced in 1904 and was more child-friendly. The 1909 syllabus was developed as more concern was being taken over the welfare of children of working-class families and this syllabus ensured a slightly more therapeutic angle. Organised games were introduced in this syllabus; this shows the first tentative move away from military-style Physical Training teaching. The years 1914-1918 saw the tragedy of the First World War. A generation of young men was almost totally wiped out. Consequently this had an effect on the education system, as it was recognised that a more child centred approach was needed. The First World War also improved the social status of women. This was because they had worked in munitions factories and on the land whilst the men were busy fighting. Women proved that they could cope with demanding physical work and this afforded them more equality. Despite this development in the way in which they were viewed, women generally continued to have only limited access to sport. In 1919, after the war a new syllabus was introduced. This syllabus was more child orientated than the previous ones It allowed more freedom and individual interpretation. For the older pupils therapeutic exercises were still the main emphasis. The 1933 syllabus is perhaps one of the most significant syllabuses developed as a result of the way in which children were viewed. It was developed after the economic depression, which started in the late 1920s. During this time there were very poor living conditions for the less well off as they suffered even more than they had done previously. In this syllabus we see a move from a teacher-centred approach to one where more choice is available and decisions can be made by pupils. This is signif8icant as it shows that adults were beginning to view children as being independent and therefore able to make there own decisions. Everyone was touched by the Second World War. Due to the development of aircraft bombers and long-range missiles, the lives of everyone in Britain, including children were affected. People now looked to their children for hope and we now see a further step towards child-centred learning. The training that had been used to create ‘thinking’ soldiers during the war was now adapted to suit schools. Assault course type equipment was put up in schools. Pupils were required to use their initiative and take responsibility for each other.

Frankenstein Mary Shelleys Litererary Contribution...

Reading can be one of the most boring and monotonous things to do. However, during the Age of Enlightenment, literature was at its peak from the many entertainments available during this time period. Great stories came from writers who incorporated various elements to make their stories interesting. Mary Shelly lived during this time period when Romanticism was at its highest. Everyone understood the language of the Romantics which contained different elements that were not necessarily about love referring to the common description of romantic. Some of these elements are Emotions, Childhood, Nature, The individual, the Common Man, the Past, the Supernatural, and the Innocent and Untouched. Mary Shelly was inspired by the literary elements of her era, so she produced various novels including â€Å"Frankenstein†. This novel is very famous for its multiple romantic elements throughout the text. Among several elements in the novel, it contains the aspect of how nature is involved with the characters’ feelings, how the individual has a strong stand on ideas and how the supernatural was unknown to the world. Throughout the novel â€Å"Frankenstein†, the element of nature is related as a type of either comfort or sorrow for the characters’ perceptions. The context shows the reader how the change of seasons affected Victor and the monster throughout their journey. A cloudy, snowy day meant melancholy and misery. A sunny day meant hope and happiness. The emotions on the characters were

The Battle Of Saratog The Major Turning Point Of The...

The Battle of Saratoga is considered to be the major turning point of the American Revolution. This battle proved to the world that the fledgling American army was an effective fighting force capable of defeating the highly trained British forces in a major conflict. As a result of this successful battle, the European powers, primarily France, took interest in the insurrection of the Americans and began to support them. In the British Campaign of 1777, Lord George Germain and Major General Burgoyne planned a comprehensive advance of three columns to meet in Albany, New York. Burgoyne would lead the main column, which moved southward along the Hudson River. A second column under General Barry St. Leger would serve as a diversionary attack, moving eastward from Canada along the Mohawk River. General William Howe would direct the third element of the attack. According to the plan, Howe would direct General Henry Clinton to move northward along the Hudson River and link up with Burgoyne in Albany. The goal of this plan was to isolate and destroy the Continental forces of New England, effectively splitting the Colonies along the Hudson River and ending the American Revolution. Initially, the British plan appeared to be working. Burgoyne s army continually pushed back the Americans southward along the Hudson River with only minor casualties. Burgoyne’s invasion force comprised of 9,000 men, including 4,200 British regulars, 4,000 German mercenaries, 400 Indian warriors, and