economic policy of the gold coast

Topics: Economics, Macroeconomics, Economic policy Pages: 12 (3737 words) Published: November 14, 2013
CONTENT
INTRODUCTION
POLICY ON STABILIZATION STRATEGY
POLICY ON TRADE
POLICY ON AGRICULTURE
POLICY ON FINANCE
POLICY ON TRANSPORTATION
CONCLUSION
INTRODUCTION:
Economic policy refers to the actions that governments take in the economic field. It covers the systems for setting interest rates and government budget as well as the labor market, national ownership, and many other areas of government interventions into the economy. A few examples of the kinds of economic policies that exist include: Macroeconomic stabilization policy

Contraction and expansion
Trade policy
Policies designed to create economic growth
Policies related to development economics
Policies dealing with the redistribution of income, property and/or wealth Macroeconomic stabilization policy:
Stabilization policy attempts to stimulate an economy out of recession or constrain the money supply to prevent excessive inflation. Contraction policy
Expansion policy
Fiscal policy uses government spending and taxes to guide the economy. Fiscal stance: The size of the deficit or surplus
Tax policy: The taxes used to collect government income.
Government spending on just about any area of government
Monetary policy controls the value of currency by lowering the supply of money to control inflation and raising it to stimulate economic growth. It is concerned with the amount of money in circulation and, consequently, interest rates and inflation. Interest rates, if set by the Government Incomes policies and price controls that aim at imposing non-monetary controls on inflation. Fiscal policy uses government spending and taxes to guide the economy. Fiscal stance: The size of the deficit or surplus Tax policy: The taxes used to collect government income. Government spending on just about any area of government Monetary policy controls the value of currency by lowering the supply of money to control inflation and raising it to stimulate economic growth. It is concerned with the amount of money in circulation and, consequently, interest rates and inflation. Interest rates, if set by the Government Incomes policies and price controls that aim at imposing non-monetary controls on inflation Policy is generally directed to achieve particular objectives, like targets for inflation, unemployment, or economic growth. Sometimes other objectives, like military spending or nationalization are important. Economic policies are going to be discussed in the following areas; 1470 - 1502

1502 - 1821
1821 – 1956
STABILIZATION POLICY:
Stabilization policy is defined as a macroeconomic strategy enacted by governments and central banks to keep economic growth stable, along with price levels and unemployment. Ongoing stabilization policy includes monitoring the business cycle and adjusting benchmark interest rates to control aggregate demand in the economy. The goal is to avoid erratic changes in total output as measured by gross domestic product (GDP) and large changes in inflation; stabilization of these factors generally leads to moderate changes in the employment rate as well. As economies become more complex and advanced, top economist believe that maintaining a steady price level and pace of growth is the key to long-term prosperity. When any of the aforementioned variables become too volatile, there are unforeseen consequences and effects to the broad economy that keep markets from functioning at their optimum level of efficiency. As we have a Fairview about the meaning of stabilization policy, this paper will now examine the stabilization policies in the Gold Coast which was mostly designed by the colonial masters. Many of the economic and civil improvements in the gold coast in the early part of the 20th century have been attributed to Frederick Gordon Guggisberg, governor from 1919-1927. At the beginning of his governorship of the Gold Coast, Guggisberg presented...
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