Workers Essay Example | Topics and Well Written Essays - 750 words

Laborers - Essay Example Specialization has become a significant element of complex modern networks in Canada and around the world. Division of work happens at various levels. As a rule there is that observation by customers that they are settling on free decision as for singular buys, such view is impossible with creation. The main degree of creation division of work is between organizations. This is in see that one organization can just acquire another company’s creation item through trade. Taking the case of steel organization and force creating organization, creation of certain needy items go inseparably with the rise of market by these monetary segments. In division of work, the procedure of creation in the organization is separated into different successions of stages, and all specialists are allocated to explicit stages. Increasing the specialization of work may prompt laborers with low generally speaking aptitudes and an absence of energy for the work they do. Division of work in this manner has a basic impact in molding the individual execution of these organizations. Another noteworthy degree of division of work exists inside the organization, and this is between singular specialists. Contingent upon what the organization produces, singular specialists also can have division of work. This has been because of the way that for time laborers perform comparable errands over and again and get known to them better. The likenesses between the two are that in the two cases it disregards the preferences and inclinations of clients. Prominently, in the two degrees of division of work there exist piece of the pie. People in the economy require merchandise and enterprises consistently. Privately owned businesses are not the select makers in the economy, however they are likewise open administrations and house types of creation. The previous profit to the economy streets, emergency clinics, to individual and the last benefits cultivating, house

Canadian Provincial Political Cultures

Canadian Provincial Political Cultures Canadian political culture is multi-layered and various. Three extraordinary nations have impacted the improvement of this culture The United States, The Great Britain and France. In this manner, with regards to Canada, it can not be concentrated in detachment from the remainder of North America and Europe. Despite the fact that the development of North America was only a stage in broadening the political and social strength of the European superpowers, in any case, it assisted with building up a course of monetary change in Canada. During the last 200 years, Canadian political culture has been molded by five unmistakable floods of migration all of which have left their own financial and social checks on the whole nation (Easterbrook and Aitken, 1988: 3). The arrangement of Canada monetarily, socially and politically is best depicted by Louise Hartzs â€Å"fragment theory† who contends that frontier social orders, those like Canada, started as pieces of bigger European social orders and that those social orders stayed set apart during their history by the states of their roots. The word â€Å"fragment† infers that those new social orders would not be the finished copies of their parent ones yet they would prefer to comprise of the pieces of those parent social orders spoke to by the individuals who chose to emigrate (Bellamy, Pammett, Rowat, 1976: 68). Further, the disclosure of vital normal assets in Canada like oil, gas, gold and others, made a reliance hypothesis which is really one of a kind to the nation staples hypothesis of financial development. Harold Innis, the originator of the hypothesis, contended that the advancement of Canada comprised of the arrangement of conditions upon the common recourses hide, fish, timber, minerals and others, the entirety of which, thusly, have overwhelmed the economy of the nation and were the essential fare items one after another (Marchak, 1983: 21). The Maritimes The social orders of Nova Scotia, New Brunswick and Prince Edward Island fluctuate in the paces of advancement fundamentally. This district could be considered as the most customary and traditionalist in Canadian political culture overall. The Maritimes are an uncommon case of how customs, conventions and convictions are preferred over advancement and change. After the arrangement of mindful government in the nineteenth century, there were just negligible changes in practices and methodology of legislative issues (Bellamy, Pammett, Rowat, 1976: 10-11). First pilgrims were outsiders who came legitimately from Britain Yorkshire, Ireland and Highland Scotland. The prize of moving was deserving of a hazard, the Maritimes offered something that Europe, settled and overpopulated, couldn't free land. Strategically, Maritimes took after their American neighbors instead of those back in Britain as the whole locale stayed under the firm range of prominence of the New England. In spite of that reality, Tory philosophy in the area was solid when the American Revolution up until the third influx of movement, when it was impacted enormously by the British nonconformists a similar wave that brought Sir John A. Macdonald to Canada. Common War in the United States had constrained the Maritimes to reexamine the possibility of Confederation as it offered security and monetary solidness (Dunn, 2006: 17-18). Nova Scotia is the most progressive of every Atlantic area in regard to social, financial and political turn of events. Halifax, Nova Scotias biggest urban focus, has a higher pace of industrialization than different zones in the district. With regards to staffing the organization there is less use of support and the choices are made exclusively on the standard of legitimacy (Bellamy, Pammett, Rowat, 1976: 11). Religion comes as a necessary piece of the Maritimes political culture. There are four ideological groups in the PEI Conservative, Liberal, Catholic and Protestant. For quite a long time, it has been viewed as an intense undertaking to anticipate which gathering would take the advantage during the decisions. One thing was for sure however fixed quantities of Catholics and Protestants would be chosen each time paying little heed to which gathering would win the political race (Dunn, 2006: 18-19). The Maritimes political culture is mostly solidified in the nineteenth century. Today, much the same as two centuries prior, the administration is considered as a negative power in the economy and society something that isn't to be trusted. To affirm this, teacher S.D. Clark has noticed that â€Å"the angler of Nova Scotia were basic people who had small comprehension of the complexities of the monetary, political and social world around them. Their issues appeared to be sufficiently basic, made troublesome just by the obstructions of the administration far expelled and past their reach.† (Bellamy, Pammett, Rowat, 1976: 16). Newfoundland Newfoundland is an area that stands apart from all the others. The region experiences the old scars in its history and contending dreams from the past governments and up until today it attempts to discover a harmony among combination and independence. Dismissing the Confederation from the outset in 1867, which was a famous choice as home principle was preferred over mechanical free enterprise, the area acknowledged it in 1949 (Tomblin, 1995: 67-68). Getting away from the chapter 11 during the 1930s, Newfoundland requested an immediate British guideline by giving up its self-administering territory status picked up already by the Statute of Westminster. In contrast to Canada, Newfoundland wound up naturally engaged with World War II close by Britain (Dunn, 2006: 16). Post war period, in any case, brought political change not exclusively to Europe yet to Canada also. Debilitated by the war, Britain was in decrease and could no longer help Newfoundland monetarily, as Valerie Summers not ed â€Å"In the post-World War II time of political modifications and British dollar deficiencies, the premiums of the British government in taking out the expense of upkeep of Newfoundlands organization prompted Newfoundlands development out of the British space into Canadian jurisdiction† (Tomblin, 1995: 68). Newfoundland is very unmistakable from different territories in its monetary, social and social turn of events. Being disconnected from Canada and the remainder of North America for a long time it was significantly affected in its customs by the United Kingdom. Newfoundlanders were situated toward the non-materialistic estimations of West Country England and Ireland their parent networks (Bellamy, Pammett, Rowat, 1976: 3-4). For quite a long time Newfoundlands economy was focused on cod angling. The regions populace was generally country made out of enclaves which were called outports. Most of outporters lived in a semi-medieval relationship with the fish shippers called the â€Å"truck† framework. To place it in a couple of words, the â€Å"truck† framework was a deal arrangement of monetary relationship, which has dispensed with the idea of cash from the outports totally. Since the confederation, the legislature started the program that supported excursion of the outports and moving their occupants to greater urban areas (Ibid. p.4). Another particular component of Newfoundland is its extraordinary patriotism and social duality. While Irish Catholic foreigners ran to St. Johns and Avalon Peninsula, the English Protestants favored north of the island and the outports (Dunn, 2006: 15). This has made one of the most genuine cleavages in the area split between the Irish and the English populace. Newfoundland could be considered as â€Å"rurally fundamental† and just in part secularized society where religion despite everything assumes a significant job in everyday exercises. It stays more â€Å"British† than some other region in Canada (Bellamy, Pammett, Rowat, 1976: 7-8). Quebec The settlements in Canadas New France were rising gradually in the beginning of colonization; be that as it may, outsiders moved in higher numbers once the hide exchange got one of the most significant staples in the area. After the bargain of Utrecht, all French North American terrains were moved heavily influenced by the British. French-talking populace loathed such a change figuring, that it would undermine their lifestyles, their way of life and language (Croats, 2002: 18-19). Losing its North American grounds, France stayed far away in Europe, engrossed with wars and matters in its outstanding states Quebec had all the earmarks of being cut off from its parent nation. The Catholic Church has filled in as a watchman of Quebecs esteems around then and the Catholic ministry were viewed as a New Frances cultural pioneers. Despite the fact that the British were authoritatively in control they ensured the continuation of Quebecs culture and conventions as an end-result of dedication to the Crown (Dunn, 2006: 20). This organization went on for some, ages up until 1960s, when the ascent of remarkable patriotism in Quebec came about because of crash of English liberal thoughts and traditionalist perspectives on the French. With subsiding conservatism and rising liberal thoughts in Quebec in 1960s, the area started its mission for national self-assurance in a flash of overall decolonization. Reasonable for state, it was somewhat a chain response to occasions that were going on in various previous French settlements one after another, especially in Africa (Ibid. p. 22). The death of Bill 101 out of 1977 by the Quebecs National Assembly has been viewed as an indication of alleviation to the French; The Bill was the primary strong report to guarantee the perpetual quality of their way of life and language. The creators of the Bill looked to make French prevailing in the region and to turn around the segment patterns which appeared to be neutralizing them. Such an extraordinary change has influenced the English-talking populace of Quebec contrarily; despite the fact that there has been a lot of protection from the new laws by open administrations, broad communications and work developments the institutional separation in Quebec is as yet present everywhere (Clift and McLeod Arnopoulos, 1984: 186, 201-2). Quebecs conservatism, progressivism and radi

The Fear of Loud Noises or Ligyrophobia

The Fear of Loud Noises or Ligyrophobia Phobias Types Print The Fear of Loud Noises or Ligyrophobia By Lisa Fritscher Lisa Fritscher is a freelance writer and editor with a deep interest in phobias and other mental health topics. Learn about our editorial policy Lisa Fritscher Medically reviewed by Medically reviewed by Steven Gans, MD on August 05, 2016 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on July 17, 2019 JGI/Jamie Grill / Getty Images More in Phobias Types Causes Symptoms and Diagnosis Treatment Ligyrophobia, sometimes known as phonophobia, is the fear of loud noises. The fear is most common in young children  but may occur in adults as well. Some people are afraid only of very sudden loud noises, while others fear ongoing noise. This can affect your ability to feel comfortable in social settings that involve being in a crowd such as parties, concerts and other events. In Small Children Common fears are a normal part of growing up, and many small children exhibit numerous short-lived fears. Loud noises, like any surprising stimuli, may trigger reactions even in very young infants. For most kids, however, these fears are mild and transient. However, children are just as capable as adults of developing deep-seated phobias that follow them throughout their childhood. Some phobias may be a result of genetics, while for others it may be a result of life experience. If a childs fear lasts longer than six months, or if the fear is not easily assuaged, it is important to seek treatment from a qualified mental health professional. The Different Factors That Cause Certain Phobias to Develop In Adults In adults and older children, the fear of loud noises can be embarrassing at best and life-limiting at worst. This fear may not be talked about or revealed to friends, family, or doctors. Adults may find it difficult to function in noisy office environments, drive on busy highways, or even socialize in crowded restaurants or bars. Children may have difficulty paying attention in class, participating in team sports, or spending time with friends in noisy environments. Some people with this fear have a particularly difficult time falling asleep, as outside noises can be magnified when lying in a dark, quiet room. Other Disorders A decreased tolerance for noise is sometimes indicative of another condition. Hyperacusis and misophonia are physiological disorders that cause increased noise sensitivity. Although they may occur on their own, these disorders are sometimes linked to conditions from Aspergers Syndrome to Menieres disease. For this reason, it is important to consult with your family physician. A simple noise phobia is easy to treat, but if concurrent disorders are present, all conditions should be treated simultaneously. Your doctor may work in tandem with a mental health professional to properly treat your conditions. Treatment Treatment may vary depending on the severity of your fear and the level of social interaction you are able to successfully participate in on your own. Treatment may include exposure therapy, which will place you in an environment that invokes your fear in a controlled way. Talk therapy may also be helpful, which is counseling with a mental health professional about the triggers, fears, and origins of your anxiety to help you become more rational about your fear of loud noises. There are numerous self-help techniques that may involve muscle relaxation, support groups, and hypnotherapy as well as meditation, positive self-talk and other ways of improving your reaction to loud noises. Another practical way to alleviate your fear is to control the noise level in your immediate space as often as is comfortable. By informing others of your fear, you may be able to find a happy medium that may not affect others as much as it would you.

Amazon s Marketing Plan For The Customer Essay - 2390 Words

Amazon is focused on the customer. â€Å"Our vision is to be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online† (Bhasin, 1). Amazon has a clear goal of providing excellent customer service and offering a large variety of products for their customers to purchase. Amazon’s marketing plan should reflect their commitment to the customer. The popular e-commerce website—Amazon.com—demonstrates their vision â€Å"To leverage technology and the expertise of our invaluable employees to provide our customers with the best shopping experience on the internet† (Bhasin, 1). The website offers a customized online shopping experience where product suggestions reflect on the customer’s viewing and purchase history. Often a person does not want to go out and buy a product they want or need, so they can go on Amazon.com and make the purchase from the comfort of their home. Amazon provides a convenient and easy way to buy products online. Although Amazon sells a large assortment of products, what they actually sell is good customer service. Their product is giving their customers the best shopping experience. That means offering the product that the customer is looking for, making it easy to find and purchase on their website, and making the shopping experience customized to each individual customer. The price is virtually free for the customer. The customer only sees the price of the products thatShow MoreRelatedMarketing Plan For Amazon s Marketing Strategy1636 Words   |  7 Pagesproducts or services. This paper will successfully create and present a marketing campaign for Amazon. According to Amazon (n.d.), most people do not realize that Amazon, one of the world’s leading onli ne retailers, was founded 20 years ago in 1994. Most people believe that Amazon had success since day one, but in fact the company has overcome many bumps in the road to reach the success it is at now. In the beginning, Amazon focused on selling books, but now the company sells a wide range of productsRead MoreDb Forum 2 Thread - Busi 330 Essay847 Words   |  4 PagesDiscussion Board Forum 2 Thread BUSI 330 Amazon believes in keeping its marketing plan simple in order to be effective. Consequently, their marketing plan is based upon the 4 P’s (product, price, place, and promotion). Amazon’s product is to provide an unparalleled selection of any item that exists on the planet. Its prices are extremely competitive and often lower than traditional stores and it is more convenient for people to shop on the internet (place) than it is in a physical location. FinallyRead MoreThe 5 Major Aspects Of Marketing Process1546 Words   |  7 PagesThe 5 Major Aspects of the Marketing Process that Motivated Me the Most The primary objective of marketing is to design and present products to potential customers that match their needs and wants. In the marketing process every purchase is a unique journey. A consumer starts with a need, desire, impulse or inspiration (Kotler Armstrong, 2014). The five major learning lesson about marketing process are: the steps that, the buying process in the marketing, and the serious steps that theRead MoreAmazon s Largest Provider Of Cloud Infrastructure Services858 Words   |  4 Pages Abstract Amazon.com, founded in the early 90’s, is an internet computing superstore where people have the opportunity to purchase a wide variety of products at the lowest competing price. Amazon is the world s largest provider of cloud infrastructure services. The site is widely known for its wide selection of books, although the site has expanded to sell electronics, music, furniture, and apparel. Amazon.com And How It Works Amazon.com was originally founded in 1994 by Jeff Bezos in SeattleRead MoreBuilding And Sustain Relationships With Retailers Essay1385 Words   |  6 Pageswithout burning out on the message; (2) Offer Customer Rewards or Loyalty Programs: Reward/Loyalty programs work great for a variety of different business. Some programs that are the most effective offer graduated rewards, so that the more customers spend, the more they can earn. Whenever possible, offer in-kind rewards that remind customers of the company and its products or services; and (3) Customer Service: Dedicated staff for resolving customer problems quickly and effectively is beneficialRead MoreDescription Of The Business . Amazon, The Word Itself Makes1735 Words   |  7 PagesDESCRIPTION OF THE BUSINESS Amazon, the word itself makes us feel excited for making our lives easy for shopping online without any time constraints. Amazon is the world’s top leading e-commerce company. To talk about the background of amazon it was incorporated in the year 1996 May 28th which offers a range of products and services through its website. The Company has three sections: North America, International and Amazon Web Services (AWS). The Company s North America portion concentrates onRead MoreCase Study : Amazon 1399 Words   |  6 Pages4660-Advanced Applications Case Centre Case Study: Amazon.com Analysis Amazon is the largest online retailer that started its business by selling the book (). Jeff Bezos, Amazon’s current president, CEO, and the Chairman, founded the company in 1994 in Seattle, Washington (Wells, Danskin, Ellsworth, 2016). One year later, Jeff Bezos established the Amazon.com, and the Amazon Associates was launched in 1996. After a year, Amazon went public at $18/share, and the share price increased $41 a share withinRead MoreSwot Analysis Of Home Chef1608 Words   |  7 PagesHome Chef has been looking for methods not only to expand its footprint nationwide, but also to build a distinct brand image to increase market share in the competitive environment. The company delivers a weekly culinary experience to the customers, which is completed with fresh ingredients and step-by-step recipes. The purpose of this report is to offer Home Chef with the threats it might face in the future in regard of their competitors. The necessity of Home Chef to differentiate itself in theRead MoreThe Price Of The Product1003 Words   |  5 Pages2. Pricing- The price of the Product is actually the money which a consumer pays in order to enjoy it. Price is a necessary element of the marketing mix because it determines the company’s profits as well as its life cycle. Amazon adjusted the price of the product which has huge effects on the total marketing strategy, along with this; it also has big impact in sales as well as in demand of the product (Dominici, 2009). This region is actually quite tough region for the company. Because, if the firmRead MoreYahoo and Amazon: Building a Competitive Advantage1643 Words   |  7 PagesRunning Header: Yahoo and Amazon: Building a Competitive Advantage student name professor Bus599 Strategic Management date: 1. Describe, in brief, the histories of both of Amazon.com and Yahoo.com, and determine the core business of each. Yahoo and Amazon have been seeking to have a competitive advantage for years. Since they were incorporated, the companies have experienced a mix of challenges and success as they strive to gain market share. To start with, Yahoo was established

Racism Two Short Stories - 894 Words

Individual Oral Presentation Essay (IOP) Comparing First and Third Person Narratives: Racism Note: This essay intends to explain the differences in first and third person narratives, highlighting examples within the two stories â€Å"Let them call it Jazz† and â€Å"A sense of shame†, both of which deal with racism and its subcultures in a first and third person perspective, respectively. The arguments presented are limited to that of first and third person perspectives only. The differences between first and third person perspectives are detrimental when making the decision on which to use when writing. They are almost exactly polar opposites of each other, ones advantage being the others disadvantage and vice versa. In the aspect of the two†¦show more content†¦ole on the outcome of theShow MoreRelatedRacism: Two Short Stories880 Words   |  4 PagesIndividual Oral Presentation Essay (IOP) Comparing First and Third Person Narratives: Racism Note: This essay intends to explain the differences in first and third person narratives, highlighting examples within the two stories â€Å"Let them call it Jazz† and â€Å"A sense of shame†, both of which deal with racism and its subcultures in a first and third person perspective, respectively. The arguments presented are limited to that of first and third person perspectives only. The differences betweenRead MoreThe New Mirror, By Ann Petry1635 Words   |  7 Pagesperpetuation of prejudice, institutional racism, and discrimination towards African Americans continued. The tolling effects of this social paradox on the African American community are manifested within the works of Ann Petry, an African American writer whose short stories reflect her own perspective on the results of discrimination. The short stories, The New Mirror and In Darkness and Confusion conjunctively display the negative psychological consequences linked to racism, such as loss of personal identityRead MoreThe Old Chief Mshlanga By Doris Lessing1706 Words   |  7 PagesIn the short stories Crackling Day by Peter Abrahams and The Old Chief Mshlanga by Doris Lessing, the young characters are taught racism and prejudice through social interaction which impacts their ideas about other ethnicities throughout the stories, and their actions towards them. Despite having existed in the colonia l era though, the racial discrimination and hatred examined by these short stories is still a relevant issue that affects everyone in the United States today. In the stories The OldRead MoreRacism and Prejudice1540 Words   |  7 PagesRacism and prejudice has been present in almost every civilization and society throughout history. Even though the world has progressed greatly in the last couple of decades, both socially and technologically, racism, hatred and prejudice still exists today, deeply embedded in old-fashioned, narrow-minded traditions and values. Racism is a case of ‘misplaced hate and ignorance, being not only discriminatory, but also seemingly foolish with disregard of all human commonsense. Why does racismRead MoreRacial Ideology Has Affected The Western World Essay1709 Words   |  7 PagesRacial ideology has affected the Western world since the days of chattel slavery.In John Arthur’s words, racism can be said to be a form of prejudice in just that form; an attitude based insufficient evidence or on the beliefs formulated on ideas that are held on too firmly with inadequate reliance on information that can call these ideas into question (Bader 32). For instance there was a negative attitude adopted towards the African American during the early colonization period in the history ofRead MoreEssay on racism and prejudice1512 Words   |  7 Pages Racism and prejudice has been present in almost every civilization and society throughout history. Even though the world has progressed greatly in the last couple of decades, both socially and technologically, racism, hatred and prejudice still exists today, deeply embedded in old-fashioned, narrow-minded traditions and values. Racism is a case of ‘misplaced hate’ and ignorance, being not only discriminatory, but also seemingly foolish with disregard of all human commonsense. Why does racism stillRead MoreRacism In Ralph Ellison1659 Words   |  7 Pages Racism in Toni Morrison’s and Ralph Ellison’s Works As generations have passed, society has become less and less racist. From a young age, many children are taught to celebrate diversity. This instills a sense of being able to love everyone, regardless of skin color or race. But a little over half a century ago, it was a completely different story. 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The short story â€Å"The Welcome Table† was composed in the United States during the post-civil rights era by the great novelist Alice Walker. Alice focused her writing on â€Å"exploring life situations through the eyes of African American women and advocating ways to approach challenges of sexism, racism, and poverty in American life† (Clugston, 2010, p. 40). The short story â€Å"Country Lovers† wasRead MoreRacism in Short Stories1329 Words   |  6 PagesRacism in Short Stories by john This is an essay i wrote for English Literature. My examples are from two short stories ‘The Test, and ‘After You My Dear Alphonse. A Race is a population of humans distinguished from other humans. The most noticeable way to distinguish between races is by skin colour. In a white patriarchal society, like ours, race is used as a point of difference and discrimination to create power differences. ‘The Test and ‘After You My Dear Alphonse both challenge the

Macroeconomics Policy and Sustainable Development in Nigeria Free Essays

string(92) " the problem of high interest rate spread because of excess risk taken by commercial banks\." MACROECONOMICS POLICY AND SUSTAINABLE DEVELOPMENT IN NIGERIA INTRODUCTION In normal economic condition, macroeconomic policy drivessustainable development of anation. The two main branches of macroeconomics policies are based on monetary and fiscal economics. Central Bank, the nationalapex bank controls the monetary policy while the Ministry of Financeplays major role in national fiscal policy. We will write a custom essay sample on Macroeconomics Policy and Sustainable Development in Nigeria or any similar topic only for you Order Now However, most economists concur that, synergy exists between micro-and macro-economics variables and two policy agents of government: the CBN and Ministry of Finance determine the success or the degree of sustainability of macroeconomic development. In support of theimportance of central bank in macroeconomic policy, Ampong(2005) posits that non-artificial central bank independency has beena source of great success for the management and stabilisation of macroeconomic variables in countries like Norway, Sweden, Israel, Iceland, Denmark, New Zealand, United Kingdom, etc. In essence, there is theory gap among economists onthe level of central bank’s independence, especially in developing economy such as Nigeria where there have been constant agitating for curtailing of the CBN’s autonomy. Nigeria economy has passed many phases since the introduction of SAP by Babangida Government in 1986. The Abacha Government came up with Vision 2010, the Obasanjo with NEEDS, the Yar’dua with Nigeria Vision 20:2020 and presently, the Jonathan’s Transformation Agenda. From 1986, Nigeria had total of four CBN Governors plus the incumbent, MallamSanusiLamidoSanusi. CBN Bulletin (2011) enumerated policy contents of SAP with major objectives to remove the controls of interest rates, enhance the institutional structure and supervision. Most importantly, to strengthen the money and capital markets through policy changes and distress resolution measuresand to improve the linkages between formal and informal financial sectors. The removal of the control of interest rate through inflation targeting is somewhat the main focus of SAP. The concernsof the financial operators, the real sectors managers, the economists, and the policy analysts are the effectiveness of macroeconomic policy instruments of the CBN and the Ministry of Finance. Then, the impact in GDP growth rate,the stability of macroeconomic variables and the economic growth policy sustainability. In essence, citizens want to see how growth in GDP results to increase in employment, equal distribution of wealth, enabling business nvironment, and improvements in Human Development Index(HDI). National Bureau of Statistics, NBS (2013) data presents positive outlook of the annual macroeconomic variables in Nigeria as reported by CBN. From 1980 to 2012, the data depicts constant increase in GDP Growth Rate,stable money supply, controlled inflation Rate, favourable interest Rate, etc. The Monetary Policy Committee(MPC) has maintained interest rate at doubl e digits since 2009. Many economists and policy analysts question the integrity of NBS macroeconomic data and the CBN reports on the state of the economy. Ojomaikre(2012) questions the rationale of a statement he accredited to Nigeria’s Finance Minister,NgoziOkonjo-Iweala that Nigeria is one of the fastest growing economies in the world. Ojomaikre argues that Nigeria is not growing but broke. He asserts that government survey found out that, unemployment had increased across the country and was higher in rural than in urban areas. Similarly,he argues that the absolute poverty level had leapt from 54 per cent in 2006 to 70 per cent in 2010. The contradictions and argumentsregarding the growth of Nigeria economy and sustainability continue unabated. Obafemi(2013) supports some policies already implemented by the CBN in the last few years. He, however,questions the effectiveness of these policies in achieving the desired results and their sustainability. Sustainability in his opinion is about policy reversals when the present CBN Governor leaves office. Hoover(1988), posits that policy ineffectiveness theorem of New Classical school can be used to describe the current economic quagmire in Nigeria. PROBLEMS OF MACROECONOMIC POLICY AND SUSTAINABLE DEVELOPMENT IN NIGERIA Nigeria’s financial sector witnessed seemly tremendous innovations preceding the SAP  in 1986. Objectives of SAP are to provide a liberalised and level playing field for the emergency of effective and efficient institutions that would serve as an engine of economic growth. As part of the reforms, CBN liberated the operating licenses of commercial banks. Their number rose from 40 in 1986 to 120 banks in 1992. The reforms led to the emergences of other financial institution such as discount houses and bureaux de changes which were non-existence prior to 1986. Importantly, CBN data (2012)depicts the increases in the capital base of banks since the introduction of reforms. The capital base of all bank and financial institutions was raised in 1998, from 10 million to 500 million. Presently, after recapitalization in 2005, the capital base rose to 25 Billion Naira. However, the major negative economic effects of reform were excess liquidity, unstable exchange rate, high inflation and volatile interest rates. According to IndexMundi publication on Nigeria economy, inflation increased from 6. 26% in 1986 to about 49% in 1989, and reached the peak of 72% in 1995, depicting the highest rates recorded in Nigeria economy since 1986. CBN statistical data depicts macroeconomic indicators of money supply, inflation, and interest rates from 1986 when SAP was introduced. Money supply increased from about 24 Billion Naira in 1986 to 370 Billion Naira in 1996, and by 2006 money supply rose to four trillion Naira. The extreme volatility of inflation data within these periods demonstrate the instability of Nigerian economy which monetarists refer as monetary policy trap. On interest rates, CBN data shows that interest rate which was 12% in 1986 jumped to 24% as of 1989. Since late 1990s to 2004, interest rates in Nigeria have remained above 20% and even reached 30% in 2002. What is the cause of interest rate variability and what is the determinant of interest rate in economy? Blanchard(2003) examines domestic factors such as inflation, money supply, GDP growth rate and exchange rates as key factors. Factors that distinguish developed and developing countries in interest rate regime are efficiency of macroeconomic policy, its operation and implementation strategy. Some weaknesses associated with developing economies are weak institutional and weak legal frameworks. In developing economy, there is always the problem of high interest rate spread because of excess risk taken by commercial banks. You read "Macroeconomics Policy and Sustainable Development in Nigeria" in category "Essay examples" Excessive risk has potential to stall economic activities and GDP growth. In the case of Nigeria, combined with these characteristics of developing countries, has also problem of systemic corruption which tends to reduce the efficiency of macroeconomic policy QUESTIONS OF MACROECONOMICS POLICY AND SUSTAINABLE DEVELOPMENT IN NIGERIA This study will seek to provide the answer to the following questions. . What are the institutional frameworks for implementation ofmacroeconomic policy in Nigeria? b. What macroeconomic variables are the determinants of interest rate? c. What is the linkage between macroeconomic policy and macroeconomic variables? d. What are the challenges of macroeconomic policy and sustainable development in Nigerian? e. What policy recommend ations and implementation strategies are required for macroeconomic policy and sustainabledevelopment in Nigeria? AIM, OBJECTIVE, SCOPE, AND LIMITATIONS OF THIS STUDY The aim of this study is to identify and examine the two essential elements of Macroeconomics: the fiscalandmonetary policy. Different macroeconomics variables will also be surveyed and their impact on sustainable development in Nigeria. The broad objective of this study will beto assess the macroeconomic policy and sustainable development in Nigeria. The specific objectives are: a. To examine the institutional frameworks and implementation ofmacroeconomic policy in Nigeria. b. To identify the macroeconomic variablesthat are the determinants of interest rate in Nigeria c. To determine the linkage between macroeconomic policy and macroeconomic variables. d. To evaluate the challenges of the macroeconomic policy and sustainable development in Nigeria. e. To recommend and proffer implementation strategies for effective macroeconomic policy and sustainable development in Nigeria? The scope covers the process of assessing the macroeconomic policy and sustainable development in Nigeria from 1980 to 2012. This involves the evaluation of institutional framework and monetary policy of CBN. The following variables will be analysed: interest rate, real interest rate, inflation rate, exchange rate, risk premium, to determine their relationships with GDP growth rate and sustainable development in Nigeria. The limitations will be encountered as the study progresses. There might be some difficulties in assessing some documents from CBN and to compare CBN data with that World Bank and IMF. These  problems can be solved through the availability of reliable secondary data in the internet. THE SIGNIFICANCE, POLICY RELEVANCE, THEORETICAL FRAMEWORK OF THIS STUDY Major concern of policy makers and monetary authorities regarding macroeconomic variables are not about the existence of these variables themselves but their sizes, which fluctuate in response to volatility of other variables. The result of this study will add to the theory of interest rate and existing body of knowledge in macroeconomic policy by assisting the CBN to conduct effective monetary policy that can drive sustainable development in Nigeria. The policy-maker will be well-informed to make appropriate macroeconomic policy. Technical language of macroeconomics will be simplified for the benefits of individuals in their financial transactions. The knowledge of financial operators and their entrepreneur acumen will beenriched with the introduction of risk premium as a macroeconomic analysing tool. Proper Information is necessary to create Macroeconomic awareness. This research will survey different theories of macroeconomics with special focus on macroeconomic policy of CBN. The survey of various definitions of macroeconomic variables will be carried out. The classical theory Adam Smith(1776),  author of the Wealth of Nations and his follwers; also the Keynesian theory of, Keynes(1936),and the new classical theory of Hoover(1988). These theories have differing views on which institution or policy instruments thatare more effective than the other. However, Blanchard(2003) will be helpful in definition of interest rate theory which includes how inflation rate, expected inflation rate, money supply, and exchange raterelate to macroeconomic growth and stability. Barro(2008) will compare term structure of interest rate. Ackley(1971)will establish investment theory with emphasis in real interest rates. Very important in this research is risk premium which will be defined with Perloff(2007) theory on federal and capital market bonds. To compare relationship among monetary economic variables and complementary policy instruments of CBN, Udaba(2002) identifies Open Market Operations(OMO), Nigerian Inter-Bank Rate(NIBOR), Reserve Requirement(RR), Moral Suction, Special Deposit, and the activities of Monetary Policy Committee(MPC). There is also the Anyanwu and Oaikhenan(1995)model used to analyse the macroeconomic policy sustainability in Nigeria. Finally, for this study, Blanchard (2003) model will be used to analyse the institutional frameworks, macroeconomic variables and macroeconomic policies. METHODOLOGY This research work will be analysed through the combination of quantitative and qualitative research methodologies. It will apply both the primary and secondary sources of data collection. For estimation procedure, the study will employ Vector Autoregressive Model(VAR) and Autoregressive Conditional Heteroscedasticity(GARCH). The VAR model was developed by Sims(1980) and will be usedto capture the second objective while GARCH method by (Engle, 1982; Bollerslev, 1986) will be applied to capture third objectives. VAR model is theory-free model because some countries exhibit particular characteristics that sometimes are devoid of any economic theory. The choice of this model was because of its unique feature to bring out dynamic behaviour of macroeconomic variables. In the model, every variable is seen as endogenous variable that can be explained by its lagged value and lagged values of all other variables in the model. The GARCH model is a popular method in financial literatures used as reliable model for volatility. The model takes the form of a univariateAutoregressive (AR) process of variables in question and the variance as a function of squared innovations from this AR process. Unit Root Test and Co-Integration Test will be conducted to know the stationary position of the macroeconomic variables, their order of integrations, and to identify the number of equations that exist in the model. The Augmented Dickey Fuller(ADF) and Johnasen Method, Gujaranti and Porter(2009)are current statistical method for this research. Primary sources of data will be collected through pre-arranged oral interviews and solicitation for filling of questionnaires to knowledgeable individuals and experts in the field of monetary policy and financial institutions. There are needs to visit the headquarter of CBN, some banks,interact with policy makers and Nigerians from all walks of life. The secondary data will come from CBN Statistical Bulletin, NBS, World Bank and IMF Economic Outlook, economic journals, internet and electronic media. The NIPSS library will facilitate assess to some books and unpublished researchers. A sample size primary data source which will not be less than 50 respondents and willbe random collected from relevant offices and institutions. To conduct oral interviews and serve questionnaires, there are needs to visit the headquarter of CBN, some banks, interact with policy makers, Nigerians from all walks of life. The computer application will be E-view 3. 1 or above. This application handles Time-series data more efficiently. DEFINITION OF TERMS/CONCEPTUAL CLASSIFICATIONS Generalised Autoregressive Conditional Heterscedasticity(GARCH) Generalised Autoregressive conditional heterscedasticity used in measuring volatility in macroeconomic Time Series. Limited to more of financial time series. Vector Autoregression(var) Vector Autoregressive, used to estimate the lagged value of a variables and its lagged value to other variables. Helps in solving multiple equations problems among macroeconomic variables and to identify bilateral causality between variable: e. g. nterest rate effect inflation and inflation effects interest rate. United Root Test A statistical instrument used to test the stationarity (or non-stationarity) of time series variables. United Root Test resulthelps to reject or accept the null hypothesis. Co-integration Test If two variables have long term or equilibrium relationship between them, they co-integrated e. g. Fisher’s quantity theory of money. In its application, the parameter of estimated variables is compare with its critical significance. Policy Ineffectiveness Theorem(PIT) The theorem based on New Classical economics that money is neutrality on money in macroeconomic policies. Conclusions This work is organised into five sections. Section One present the Backgrounds, Problems of Macroeconomic Policy and Sustainable Development in Nigeria, Research QuestionsAims of Study and Objectives of Study, the Scope of the Study, Limitations, the Significance of the Study/Policy Relevance, Theoretical Framework, Hypotheses of the Study and Methodology. Section Three, discusses the historical development of macroeconomic policy and sustainable development in Nigeria. The focus here will be Monetary Policy of Central Bank of Nigeria, with specific study in interest rate determinant. Section Four will present data, content analysis and interpretations. Section five will display the overview of the research work include summary of findings, conclusions, recommendation and implementation strategies. References Ackley, G. (1971), Macroeconomics. UK: Macmillian Adam Smith, (1776). â€Å"Masterpiece:An Inquiry into the Nature and Causes of the Wealth of Nations. †Edited by Edwin Cannan. Chicago: University  of  Chicago  Press,  1976. Available  online  at: http://www. econlib. org/library/Smith/smWN. html, 14/3/2013 Ampomg, K. O. (2005), â€Å"Inflation Targeting Monetary Policy-the Way Forward†,www. ghanaweb. com/ghanahomepage/features/artikel. phd? ID=80363. 12/3/2013 Anyanwu, J. C and H. E. Oaikhenan(1995),Modern Macroeconomics:Theory and Application in Nigeria. Onitsha:Joanee Educational Publishers Ltd. Blanchard, O. (2003), Macroeconomics. New Jersey: Prentice Hall. Bollerslev, T. (1986), â€Å"Generalised Autoregressive Condition Heteroscedasticity. †Journal of Econometrics, 31, 307-327. Barro,R. J. (2008), Macroeconomics. New Jersey: Prentice Hall. CBN, (2011), â€Å"Monetary Policy Reform. † www. cenbank. org/monetarypolicy reforms. asp. 13/3/2013. Engle, R. F. (1982), â€Å"Autoregressive Condition Heterscedasticity with Estimates of the Variance of United Kingdom. †Econometrical, 50, 987-1000. Gujarati, D. N. And Porter, D. C. (2009), â€Å"Basic Econometrics†. New York: McGraw-Hill Education. Hoover, Kevin D. (1988), The New Classical Macroeconomics: A Sceptical Inquiry. Oxford: Blackwell IndexMundi, (2011), â€Å"Consumer Price†, www. indexmudi. om/nigeria/inflation rate%28consumerprice%29. html. 12/3/2013. Keynes, John M. (1935). The General Theory of Employment, Interest, and Money. London: Macmillan. Obafemi,O. Thisday, â€Å"CBN and Financial Policy Implementation. †16 February, 2013. Ojomaikre, A. Guardian, â€Å"Nigeria is not Growing and Broke(1). † 25 June, 2012. Perloff, J. M. (2007), Microeconomics. New York: Pearson/Addison Wesley. Sims, A. A. (1980), â€Å"Macroeconomics and Reality. †Econometrical, 48, 10. Udaba, S. I. (2002), An Introduction to Nigerian Public Finance. Enugu:Linco Press. How to cite Macroeconomics Policy and Sustainable Development in Nigeria, Essay examples Macroeconomics Policy and Sustainable Development in Nigeria Free Essays string(92) " the problem of high interest rate spread because of excess risk taken by commercial banks\." MACROECONOMICS POLICY AND SUSTAINABLE DEVELOPMENT IN NIGERIA INTRODUCTION In normal economic condition, macroeconomic policy drivessustainable development of anation. The two main branches of macroeconomics policies are based on monetary and fiscal economics. Central Bank, the nationalapex bank controls the monetary policy while the Ministry of Financeplays major role in national fiscal policy. We will write a custom essay sample on Macroeconomics Policy and Sustainable Development in Nigeria or any similar topic only for you Order Now However, most economists concur that, synergy exists between micro-and macro-economics variables and two policy agents of government: the CBN and Ministry of Finance determine the success or the degree of sustainability of macroeconomic development. In support of theimportance of central bank in macroeconomic policy, Ampong(2005) posits that non-artificial central bank independency has beena source of great success for the management and stabilisation of macroeconomic variables in countries like Norway, Sweden, Israel, Iceland, Denmark, New Zealand, United Kingdom, etc. In essence, there is theory gap among economists onthe level of central bank’s independence, especially in developing economy such as Nigeria where there have been constant agitating for curtailing of the CBN’s autonomy. Nigeria economy has passed many phases since the introduction of SAP by Babangida Government in 1986. The Abacha Government came up with Vision 2010, the Obasanjo with NEEDS, the Yar’dua with Nigeria Vision 20:2020 and presently, the Jonathan’s Transformation Agenda. From 1986, Nigeria had total of four CBN Governors plus the incumbent, MallamSanusiLamidoSanusi. CBN Bulletin (2011) enumerated policy contents of SAP with major objectives to remove the controls of interest rates, enhance the institutional structure and supervision. Most importantly, to strengthen the money and capital markets through policy changes and distress resolution measuresand to improve the linkages between formal and informal financial sectors. The removal of the control of interest rate through inflation targeting is somewhat the main focus of SAP. The concernsof the financial operators, the real sectors managers, the economists, and the policy analysts are the effectiveness of macroeconomic policy instruments of the CBN and the Ministry of Finance. Then, the impact in GDP growth rate,the stability of macroeconomic variables and the economic growth policy sustainability. In essence, citizens want to see how growth in GDP results to increase in employment, equal distribution of wealth, enabling business nvironment, and improvements in Human Development Index(HDI). National Bureau of Statistics, NBS (2013) data presents positive outlook of the annual macroeconomic variables in Nigeria as reported by CBN. From 1980 to 2012, the data depicts constant increase in GDP Growth Rate,stable money supply, controlled inflation Rate, favourable interest Rate, etc. The Monetary Policy Committee(MPC) has maintained interest rate at doubl e digits since 2009. Many economists and policy analysts question the integrity of NBS macroeconomic data and the CBN reports on the state of the economy. Ojomaikre(2012) questions the rationale of a statement he accredited to Nigeria’s Finance Minister,NgoziOkonjo-Iweala that Nigeria is one of the fastest growing economies in the world. Ojomaikre argues that Nigeria is not growing but broke. He asserts that government survey found out that, unemployment had increased across the country and was higher in rural than in urban areas. Similarly,he argues that the absolute poverty level had leapt from 54 per cent in 2006 to 70 per cent in 2010. The contradictions and argumentsregarding the growth of Nigeria economy and sustainability continue unabated. Obafemi(2013) supports some policies already implemented by the CBN in the last few years. He, however,questions the effectiveness of these policies in achieving the desired results and their sustainability. Sustainability in his opinion is about policy reversals when the present CBN Governor leaves office. Hoover(1988), posits that policy ineffectiveness theorem of New Classical school can be used to describe the current economic quagmire in Nigeria. PROBLEMS OF MACROECONOMIC POLICY AND SUSTAINABLE DEVELOPMENT IN NIGERIA Nigeria’s financial sector witnessed seemly tremendous innovations preceding the SAP  in 1986. Objectives of SAP are to provide a liberalised and level playing field for the emergency of effective and efficient institutions that would serve as an engine of economic growth. As part of the reforms, CBN liberated the operating licenses of commercial banks. Their number rose from 40 in 1986 to 120 banks in 1992. The reforms led to the emergences of other financial institution such as discount houses and bureaux de changes which were non-existence prior to 1986. Importantly, CBN data (2012)depicts the increases in the capital base of banks since the introduction of reforms. The capital base of all bank and financial institutions was raised in 1998, from 10 million to 500 million. Presently, after recapitalization in 2005, the capital base rose to 25 Billion Naira. However, the major negative economic effects of reform were excess liquidity, unstable exchange rate, high inflation and volatile interest rates. According to IndexMundi publication on Nigeria economy, inflation increased from 6. 26% in 1986 to about 49% in 1989, and reached the peak of 72% in 1995, depicting the highest rates recorded in Nigeria economy since 1986. CBN statistical data depicts macroeconomic indicators of money supply, inflation, and interest rates from 1986 when SAP was introduced. Money supply increased from about 24 Billion Naira in 1986 to 370 Billion Naira in 1996, and by 2006 money supply rose to four trillion Naira. The extreme volatility of inflation data within these periods demonstrate the instability of Nigerian economy which monetarists refer as monetary policy trap. On interest rates, CBN data shows that interest rate which was 12% in 1986 jumped to 24% as of 1989. Since late 1990s to 2004, interest rates in Nigeria have remained above 20% and even reached 30% in 2002. What is the cause of interest rate variability and what is the determinant of interest rate in economy? Blanchard(2003) examines domestic factors such as inflation, money supply, GDP growth rate and exchange rates as key factors. Factors that distinguish developed and developing countries in interest rate regime are efficiency of macroeconomic policy, its operation and implementation strategy. Some weaknesses associated with developing economies are weak institutional and weak legal frameworks. In developing economy, there is always the problem of high interest rate spread because of excess risk taken by commercial banks. You read "Macroeconomics Policy and Sustainable Development in Nigeria" in category "Papers" Excessive risk has potential to stall economic activities and GDP growth. In the case of Nigeria, combined with these characteristics of developing countries, has also problem of systemic corruption which tends to reduce the efficiency of macroeconomic policy QUESTIONS OF MACROECONOMICS POLICY AND SUSTAINABLE DEVELOPMENT IN NIGERIA This study will seek to provide the answer to the following questions. . What are the institutional frameworks for implementation ofmacroeconomic policy in Nigeria? b. What macroeconomic variables are the determinants of interest rate? c. What is the linkage between macroeconomic policy and macroeconomic variables? d. What are the challenges of macroeconomic policy and sustainable development in Nigerian? e. What policy recommendations a nd implementation strategies are required for macroeconomic policy and sustainabledevelopment in Nigeria? AIM, OBJECTIVE, SCOPE, AND LIMITATIONS OF THIS STUDY The aim of this study is to identify and examine the two essential elements of Macroeconomics: the fiscalandmonetary policy. Different macroeconomics variables will also be surveyed and their impact on sustainable development in Nigeria. The broad objective of this study will beto assess the macroeconomic policy and sustainable development in Nigeria. The specific objectives are: a. To examine the institutional frameworks and implementation ofmacroeconomic policy in Nigeria. b. To identify the macroeconomic variablesthat are the determinants of interest rate in Nigeria c. To determine the linkage between macroeconomic policy and macroeconomic variables. d. To evaluate the challenges of the macroeconomic policy and sustainable development in Nigeria. e. To recommend and proffer implementation strategies for effective macroeconomic policy and sustainable development in Nigeria? The scope covers the process of assessing the macroeconomic policy and sustainable development in Nigeria from 1980 to 2012. This involves the evaluation of institutional framework and monetary policy of CBN. The following variables will be analysed: interest rate, real interest rate, inflation rate, exchange rate, risk premium, to determine their relationships with GDP growth rate and sustainable development in Nigeria. The limitations will be encountered as the study progresses. There might be some difficulties in assessing some documents from CBN and to compare CBN data with that World Bank and IMF. These  problems can be solved through the availability of reliable secondary data in the internet. THE SIGNIFICANCE, POLICY RELEVANCE, THEORETICAL FRAMEWORK OF THIS STUDY Major concern of policy makers and monetary authorities regarding macroeconomic variables are not about the existence of these variables themselves but their sizes, which fluctuate in response to volatility of other variables. The result of this study will add to the theory of interest rate and existing body of knowledge in macroeconomic policy by assisting the CBN to conduct effective monetary policy that can drive sustainable development in Nigeria. The policy-maker will be well-informed to make appropriate macroeconomic policy. Technical language of macroeconomics will be simplified for the benefits of individuals in their financial transactions. The knowledge of financial operators and their entrepreneur acumen will beenriched with the introduction of risk premium as a macroeconomic analysing tool. Proper Information is necessary to create Macroeconomic awareness. This research will survey different theories of macroeconomics with special focus on macroeconomic policy of CBN. The survey of various definitions of macroeconomic variables will be carried out. The classical theory Adam Smith(1776),  author of the Wealth of Nations and his follwers; also the Keynesian theory of, Keynes(1936),and the new classical theory of Hoover(1988). These theories have differing views on which institution or policy instruments thatare more effective than the other. However, Blanchard(2003) will be helpful in definition of interest rate theory which includes how inflation rate, expected inflation rate, money supply, and exchange raterelate to macroeconomic growth and stability. Barro(2008) will compare term structure of interest rate. Ackley(1971)will establish investment theory with emphasis in real interest rates. Very important in this research is risk premium which will be defined with Perloff(2007) theory on federal and capital market bonds. To compare relationship among monetary economic variables and complementary policy instruments of CBN, Udaba(2002) identifies Open Market Operations(OMO), Nigerian Inter-Bank Rate(NIBOR), Reserve Requirement(RR), Moral Suction, Special Deposit, and the activities of Monetary Policy Committee(MPC). There is also the Anyanwu and Oaikhenan(1995)model used to analyse the macroeconomic policy sustainability in Nigeria. Finally, for this study, Blanchard (2003) model will be used to analyse the institutional frameworks, macroeconomic variables and macroeconomic policies. METHODOLOGY This research work will be analysed through the combination of quantitative and qualitative research methodologies. It will apply both the primary and secondary sources of data collection. For estimation procedure, the study will employ Vector Autoregressive Model(VAR) and Autoregressive Conditional Heteroscedasticity(GARCH). The VAR model was developed by Sims(1980) and will be usedto capture the second objective while GARCH method by (Engle, 1982; Bollerslev, 1986) will be applied to capture third objectives. VAR model is theory-free model because some countries exhibit particular characteristics that sometimes are devoid of any economic theory. The choice of this model was because of its unique feature to bring out dynamic behaviour of macroeconomic variables. In the model, every variable is seen as endogenous variable that can be explained by its lagged value and lagged values of all other variables in the model. The GARCH model is a popular method in financial literatures used as reliable model for volatility. The model takes the form of a univariateAutoregressive (AR) process of variables in question and the variance as a function of squared innovations from this AR process. Unit Root Test and Co-Integration Test will be conducted to know the stationary position of the macroeconomic variables, their order of integrations, and to identify the number of equations that exist in the model. The Augmented Dickey Fuller(ADF) and Johnasen Method, Gujaranti and Porter(2009)are current statistical method for this research. Primary sources of data will be collected through pre-arranged oral interviews and solicitation for filling of questionnaires to knowledgeable individuals and experts in the field of monetary policy and financial institutions. There are needs to visit the headquarter of CBN, some banks,interact with policy makers and Nigerians from all walks of life. The secondary data will come from CBN Statistical Bulletin, NBS, World Bank and IMF Economic Outlook, economic journals, internet and electronic media. The NIPSS library will facilitate assess to some books and unpublished researchers. A sample size primary data source which will not be less than 50 respondents and willbe random collected from relevant offices and institutions. To conduct oral interviews and serve questionnaires, there are needs to visit the headquarter of CBN, some banks, interact with policy makers, Nigerians from all walks of life. The computer application will be E-view 3. 1 or above. This application handles Time-series data more efficiently. DEFINITION OF TERMS/CONCEPTUAL CLASSIFICATIONS Generalised Autoregressive Conditional Heterscedasticity(GARCH) Generalised Autoregressive conditional heterscedasticity used in measuring volatility in macroeconomic Time Series. Limited to more of financial time series. Vector Autoregression(var) Vector Autoregressive, used to estimate the lagged value of a variables and its lagged value to other variables. Helps in solving multiple equations problems among macroeconomic variables and to identify bilateral causality between variable: e. g. nterest rate effect inflation and inflation effects interest rate. United Root Test A statistical instrument used to test the stationarity (or non-stationarity) of time series variables. United Root Test resulthelps to reject or accept the null hypothesis. Co-integration Test If two variables have long term or equilibrium relationship between them, they co-integrated e. g. Fisher’s quantity theory of money. In its application, the parameter of estimated variables is compare with its critical significance. Policy Ineffectiveness Theorem(PIT) The theorem based on New Classical economics that money is neutrality on money in macroeconomic policies. Conclusions This work is organised into five sections. Section One present the Backgrounds, Problems of Macroeconomic Policy and Sustainable Development in Nigeria, Research QuestionsAims of Study and Objectives of Study, the Scope of the Study, Limitations, the Significance of the Study/Policy Relevance, Theoretical Framework, Hypotheses of the Study and Methodology. Section Three, discusses the historical development of macroeconomic policy and sustainable development in Nigeria. The focus here will be Monetary Policy of Central Bank of Nigeria, with specific study in interest rate determinant. Section Four will present data, content analysis and interpretations. Section five will display the overview of the research work include summary of findings, conclusions, recommendation and implementation strategies. References Ackley, G. (1971), Macroeconomics. UK: Macmillian Adam Smith, (1776). â€Å"Masterpiece:An Inquiry into the Nature and Causes of the Wealth of Nations. †Edited by Edwin Cannan. Chicago: University  of  Chicago  Press,  1976. Available  online  at: http://www. econlib. org/library/Smith/smWN. html, 14/3/2013 Ampomg, K. O. (2005), â€Å"Inflation Targeting Monetary Policy-the Way Forward†,www. ghanaweb. com/ghanahomepage/features/artikel. phd? ID=80363. 12/3/2013 Anyanwu, J. C and H. E. Oaikhenan(1995),Modern Macroeconomics:Theory and Application in Nigeria. Onitsha:Joanee Educational Publishers Ltd. Blanchard, O. (2003), Macroeconomics. New Jersey: Prentice Hall. Bollerslev, T. (1986), â€Å"Generalised Autoregressive Condition Heteroscedasticity. †Journal of Econometrics, 31, 307-327. Barro,R. J. (2008), Macroeconomics. New Jersey: Prentice Hall. CBN, (2011), â€Å"Monetary Policy Reform. † www. cenbank. org/monetarypolicy reforms. asp. 13/3/2013. Engle, R. F. (1982), â€Å"Autoregressive Condition Heterscedasticity with Estimates of the Variance of United Kingdom. †Econometrical, 50, 987-1000. Gujarati, D. N. And Porter, D. C. (2009), â€Å"Basic Econometrics†. New York: McGraw-Hill Education. Hoover, Kevin D. (1988), The New Classical Macroeconomics: A Sceptical Inquiry. Oxford: Blackwell IndexMundi, (2011), â€Å"Consumer Price†, www. indexmudi. om/nigeria/inflation rate%28consumerprice%29. html. 12/3/2013. Keynes, John M. (1935). The General Theory of Employment, Interest, and Money. London: Macmillan. Obafemi,O. Thisday, â€Å"CBN and Financial Policy Implementation. †16 February, 2013. Ojomaikre, A. Guardian, â€Å"Nigeria is not Growing and Broke(1). † 25 June, 2012. Perloff, J. M. (2007), Microeconomics. New York: Pearson/Addison Wesley. Sims, A. A. (1980), â€Å"Macroeconomics and Reality. †Econometrical, 48, 10. Udaba, S. I. (2002), An Introduction to Nigerian Public Finance. Enugu:Linco Press. How to cite Macroeconomics Policy and Sustainable Development in Nigeria, Papers

Organizational Communication Theory

The organizational communication theory dates as far back as the 1900s. During different eras, different perspectives of the organisation communication theory were examined by scholars. These perspectives are important because they allow us to understand the organizational culture better.Advertising We will write a custom essay sample on Organizational Communication Theory specifically for you for only $16.05 $11/page Learn More On the other hand, such perspectives also have their own challenges. Most of the scholars have sought to speak in general terms, leading to ubiquitous and thick communication concepts. In an effort to overcome such challenges, scholars in this filed have now decided to view the process of communication as cultural â€Å"performances†. The organizational communication theory consists of major milestones tracing as far back as the 1900s. Between 1900 and 1930, the classical perspective of the organizational communication the ory was very popular. Examples include the scientific management approach as popularized Fredrick Taylor and Max Weber’s bureaucracy approach. These approaches viewed communication as a tool of management for not only command workers, but also to control them. Emphasis was on maintenance and production. Between 1930s and 1965, the human relationships and resources approach gained popularity. The approach demands that organizations focus more on democratic values (Ashcroft, n. d.). Also, the concept assumed that informal communication is inevitable as it influences employee satisfaction. From 1960 to 1980, scholars studied the organization as an open system. Communication in the open system was viewed as constitutive and ongoing. From 1980 to 1985, the cultural perspective emerged. One of the general arguments of this perspective is that organizations possess shared practices and values (a culture) and this allows it to interpret the environment. Examples of this perspective a re the corporate culture, cultural symbolism and performance. Proponents of this perspective viewed the organization as a continuous activity that enables organizations to create, maintain, and transform realities (Ashcroft, n. d.). From 1985 onwards, the critical perspective of the organizational communication theory gained supremacy. This particular perspective held the general assumption that organizations are political and hence, promote dominant interests. Examples of this perspective include Stanley Deetz’s corporate colonization and the feminist perspective. This perspective views communication as a process of social change and systematic distortion. Scholars recognized the importance of systems theory in the study of organizational communication as early as the late 60s. The systems theory recognizes the central role played by communication within the organization (Ashcroft, n. d.). What this means is that organizations are not defined by a typical cause-and-effect re lationship. If at all we wish to get the true value of organizational functioning, then we need to see organizations as complex entities.Advertising Looking for essay on business communication? Let's see if we can help you! Get your first paper with 15% OFF Learn More The systems theory also brings into focus the thoughts that we hold about both communication and organizations. The system theory has also enabled us to understand communication performances and organization cultures better. The focus of many scholars on organizational culture is fraught with a weakness, in that many of these scholars stress on certain structural aspects of culture, with little regard about how such aspects manifest themselves in the daily interactions with members of an organization (Denison Mishra, 1995). Such a position is not an attempt to disregard the importance attached to stories, symbols, ideologies, sagas, or metaphors. On the other hand, if culture is made up of, in the words of Goffman, â€Å"webs of significance that man himself has spun,† (Goffman, 1959), there is need therefore to take a lot of interest in not just the process of spinning the webs of culture, but also the actual structures of the cultural webs. It is important to try and understand how these stories, symbols, ideologies, sagas, and metaphors came into being in the first place. An easier answer to the above question would be that cultural structures are as a result of the processes of communication. However, such an answer is fraught with problems. This is because we could end up providing a generalized process of communication and in the process depicts images of a discourse without a starting point or an end. In addition, speaking in generalized processes of communication results in ubiquitous and thick concepts of communication to the extent it becomes hard to access it analytically. In addition, we would also end up with a communication process that has no meaning (Miller, 2008). In an effort to overcome such a difficulty, researchers in the field of organizational culture now views communication in organizations as more of cultural â€Å"performances†, more than anything else. There are two divergent connotations tied to the notion of â€Å"performance† (Paganowsky Trujilla, 1982), nonetheless, both of these two connotations are valid in as far as considerations of organization communication are concerned. Erving Goffmann helped to popularize the first idea of performance, suggest play-acting and theoreticality (Goffmann, 1959). Such an idea of performance indicates that certain organizational performances tend to be overdone. In addition, the notion also suggests that all organizational ought to be treated as displays of perceptions and role-distancing of organisationally-required masks. There is also a second idea of performance that paves way for a deeper understanding of the term- the ability to â€Å"accomplish† or â€Å"b ringing to completion†. In this regard organizational performances are treated as the most creative activities because they help bring meaning of significance of certain structural form-be it metaphor, symbol, ideology, saga, or story- into being.Advertising We will write a custom essay sample on Organizational Communication Theory specifically for you for only $16.05 $11/page Learn More Most scholars have only provided general arguments about how cultural structures are sustained via processes of communication. Scholars of the organizational communication theory are concerned about the recent developments in this area (Nimmo, 1979, p. 309). The lack of acceptable scientific theory in the field of organizational communication has also been documented. Majority of â€Å"theories in organizational communication â€Å"are in fact encryptions of certain ideologies. Perhaps the question that we need to ask ourselves is the kind of theories we need to take into account when examining organizational communication. Owing to the ubiquitous and omnipresent nature of human communication, we can then expect to encounter insurmountable difficulties in the quest to come up with a â€Å"grand theory of human communication† (Denison, Mishra, 1995). What we need is not a single theory to define organizational communication, but comprehensive theoretical perspectives that finds application in various communication phenomena. That organisation communication is in a state of identity crisis is also not in doubt. Presently, ideas of organizational culture seem to dwell on structural and static features of culture. Time and again, researchers appear satisfied with documenting the available literature on cultural communication as paying close attention to such cultural aspects as stories, organizational jargon, strategic knowledge, and ideologies (Paganowsky Trujilla, 1982). Although this focus is quite valuable, nonetheless, it fails t o take into account the cultural processes responsible for the creation, maintenance, as well as the transformation of these structures. Qualitative methodologies contained in the research by organizational scholars reveal that these scholars appreciate the fact that each organization is unique in its own way. This is an element of organizational culture. Very few if any researchers have succeeded in providing a full-scale assessment of the concept of organizational culture. As such, much of the work done on organizational cultures has assumed a conceptual perspective (Paganowsky Trujilla, 1982). Many scholars have endeavoured to identify the various elements of organizational culture in an attempt to create a hypothetical base for an in-depth analysis of organizational cultures. For example, Wilkins is more concerned with organizational stories, Dandridge has dwelt on organizational symbols, Meyers has dealt with organizational ideologies, while Koch and Deetz have focused on orga nizational metaphors.Advertising Looking for essay on business communication? Let's see if we can help you! Get your first paper with 15% OFF Learn More The organizational communication theory is an old concept, dating as far back as the 1900s. It has been characterized by varying perspectives over the years as scholars tries to understand the culture of an organization better. For example, Max Weber’s bureaucracy approach regarded communication as a tool of management to command and control workers. On the other hand, the systems theory which became popular in the 1960s recognised the central role played by communication within the organization. The perspective also enabled researchers to see the organization not just as an open system, but also as a complicated perspective. It focuses on thoughts about communication and organizations. Very few scholars have managed to give a vivid description of how communication within an organization can be sustained by cultural structures. In fact, many of the organisation communication theories are no theories per se, but are encryptions of certain ideologies. Nonetheless, evidence avai lable in literature sow that scholars appreciates the uniqueness of organizations. There is also no documented full-scale assessment of the organisation cultural concept. Consequently, most of the work available is conceptual in nature. Reference List Ashcroft, K. (n. d. ). Key theories of organizational communication. Web. Denison, D. R., Mishra, A. K. (1995). Toward a theory of organizational culture and effectiveness. Organizational science, 6(2): 204 – 223. Goffmann, E. (1959). The presentation of self in everyday life. Garden City, NY: Anchor Doubleday. Miller, K. (2008). Organizational communication: approaches and processes. Stamford Mass: Cengage Learning. Nimmo, D. (1979). Communication Yearbook 3. New Jersey: Transaction Publishers. Paganowsky, M. E., Trujilla, N. O. (1982). Organizational communication as cultural  performance. Louisville, KY: Cengage Learning. This essay on Organizational Communication Theory was written and submitted by user Mikayla Cline to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.