Government & Economy
Need to KnowAt the end of this section the student should be able to:
• Outline the role of the Government in the economy • Explain, with examples, the economic tools of the govt. Monetary Policy Fiscal Policy Exchange Rates Prices and Incomes Direct Intervention Deregulation • Outline the economic aims of the government Full employment Economic Growth Price Stability Improve Infrastructure Reduce Borrowing/Manage Govt Finances Improved Exports vs imports Balanced Regional Dev. Redistribute Wealth • Outline, with Irish examples, conflicts between the aims of the govt • Explain privatisation and nationalisation • Outline advs and disadvs of privatization • Explain, with examples, the difference between private costs and social costs |
ResourcesUseful LinksVideos
Milton Friedman explains his take on the role of government in a free society
|