The Chap's Diary

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National Income

The purpose of economic activities is the production of goods and services and a look at a modern economy

will reveal that its output is an endless flow of goods and services. As a result of the cooperation of factors

of production during a particular period, a certain output of goods and services is achieved. It is

The act of borrowing create debt. Debt, therefore, refers to the resources of money in use in an organization

which is not contributed by its owners and does not in any other way belong to them.

It is a liability represented by a financial instrument or other formal equivalent.

(Government Budgeting)

In the proceeding/previous unit, fiscal policy was taken to refer to that part of government policy concerning

the raising of revenue through taxation and other means and deciding on the level and pattern of expenditure

We have made reference in earlier units to the division of the economy into various sectors, one of which is

the public sector. The principal feature of this part of the economy is that ownership and control are in the

hands of government in one form or another.

Public finance is not a new field of study. It dates from emergence of governments which means that it is not

as old as governments. From time immaterial, governments imposed taxes to raise enough revenue only to

In the analysis of comparative costs in Unit Eleven, we confined ourselves to trade by barter, deliberately

excluding any idea of money of currency. In practice, it is the use of different (token) currencies that causes

So far in the previous units, we have examined domestic economic problems and noted that the Government

has monetary and fiscal policies at its disposal for dealing with them. The technicalities of these policies have

To the ordinary man in the street, a market is a place where goods and services are sold and bought like the

Alaba International Market at Lagos and the Central Market at Kaduna.

Just as people go to such market to sell what they have, and others go there to buy what they need but do

In this unit, we will focus our attention on the effectiveness of monetary policies in changing the level of real

income. We will attempt to delineate the conditions that are favorable and those that are unfavorable for

The last unit was dominated by the discussion on inflation. In this unit, we shall concentrate on deflation in

order to be able to distinguish between two of them.

When the prices of most goods and services are rising over time, the economy is said to be experiencing

http://noahpinionblog.blogspot.com/2012/07/inflation-predictions-are-hard.html

http://alexis.org.in/combating-inflation-need-for-changes-in-monetary-and-fiscal-policies/

http://www.economicnoise.com/2012/07/26/the-deflation-inflation-alternate-routes-to-depression/

In the last unit, we examined the control of financial institutions and the consequent role that the various

supervisory and regulatory authorities play in the determination of money supply. In this unit, we shall review

inflation.

In the last unit, we have examined fully the functions of financial institutions. Now we have to look at the

control of financial institutions in this unit. To ensure that good standards are maintained by the various

operators within the financial system to check any excesses of these operators, and ensure a well functioning

In the last unit, we have been able to compose and specify what financial institutions are. This will help to

assemble the functions of the various financial institutions in this unit. Having defined what financial institutions are legally, the laws also establishes different types of financial institutions. The types of financial

institution depends on the law

In the last unit, we discussed exhaustively the supply of money and now we want to focus on the Financial

Institutions that are responsible for the supply of money. The Financial Institutions operate and function in

an economic system.

A type of financial asset that has long been believed to have special macro-economic significance is money.

Money is the economist’s term for assets that can be used in making payments such as cash and cheque

accounts. One reason that money is important is that most prices are expressed in units of money

Demand For Money

Money just like every other commodity has its own demand and supply. However, money has certain qualities, or characteristics, or attributes, which distinguishes it from other commodities. Money does not need to be converted to any other thing before it is used to pay for other goods and services. It is the most

http://thenationonlineng.net/new/naira-may-devalued-2015-elections-says-economist/

The wealth of a community exists in the goods and services it produces and that money is merely a convenient way of measuring wealth.

We must now investigate money more closely and determine what it does, and what problems it creates.

In recent time, the idea of economic development occupied the minds of the authorities in governments,

especially in the developing countries of the world. But no meaningful development can be properly achieved

without a good development plan. It is a common belief by economists that it is only through proper allocation

of resources that the developing countries can accelerate their pace of economic development.

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The Chap's Diary

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National Income

Public Debt

Budgeting in the Nigerian Public Sector

Taxation and Fiscal Policies

Scope of Public Finance

The Balance of Payments

International Trade

The Nigerian Capital and Money Markets

Tools of Monetary Policies

Deflation

Inflation

The Control of Financial Institutions

Functions Of Financial Institutions

Types Of Financial Institutions

Supply Of Money

Demand For Money

Money

Economic Growth and Development

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