Relationship between money supply and inflation in saudi arabia Essay

Relationship between money supply and inflation in saudi arabia - Essay Example This paper also label the author from whose books or journals ideas are taken and they are labeled according to APA format. The topic about inflation and money supply in the economy was very vast. To prepare a good and comprehensive report, I have not only relied on my textbooks and knowledge, but instead I have used various outside sources as well. In the beginning, I have used some of the data that was published in Saudi Arabia Monetary Agency Report. This was a good mean to examine the overall inflation rate and monetary supply in KSA. The report states that in order too keep the inflation rate in the country down; Saudi Arabian government keeps most of its wealth in the form of United States Dollars. This is to stop any unnecessary leakage or money being pumped into the economy. This shows that Saudi Arabian government knows about the fact that inflation in the economy will rise if they let the money flow into the economy. (SAMA 44th Annual Report, 2007) In another report it has also been suggested that Saudi Arabian government keeps the inflation rate down by offering various subsidies to their citizen. As a part of this policy, in 2006, a heavy subsidy was given to automobile gas sector to cut down the prices by 20%. (Country Profiles Report, 2006) My research was not only limited only to these reports, but I tried to crack down the trend of inflation in Saudi Arabia. It was when, I was researching about the inflation rates in Saudi Arabia, I found out that inflation hit Saudi Arabia in those periods, when oil-markets showed a boom or price of oil rose sharply in the international market. (Index Mundi) I also reviewed various text books to arrive at the correct definition of money supply. In the end, I found these definitions very appropriate. One writer stated that money supply is actually the amount of money that is cumulatively held by people and organization working in a country (Samuelson and Nordhaus, p.321) After finding the correct definition of money supply, I started looking for money-supply trends in Saudi Arabia. It was very surprising to see that in the last few years Saudi Arabia has increased the money supply in the economy and it is continuing its policy, although the fears about inflation are very high in the country. (Country Profile Reports: KSA,2008) In a report, it was stated that "For the last few years, Saudi Arabian government is increasing the money supply in the economy by around 24% annually". Talking in the more absolute terms, the report further stated that "M3 (broadest measure of money supply as it includes all the money that is circulating in the economy in the form of Cash or Bank Deposits) grew to 815.14 billion riyals ($217.4 billion), which in the preceding year was only lingering around 615

Drugs and Decay :: essays papers

Drugs and Decay Drugs and decay; Iran; Iran's losing fight against drugs. (International)(Brief Article) Full Text: COPYRIGHT 2001 Economist Newspaper Ltd. TABOO subjects, Muhammad Khatami has insisted, should be talked about. Before he was elected president in 1997, most Iranians were unaware of their high level of drug addiction. But now, thanks to press reports and unexpectedly lively debate, everyone knows that the country has about 2m opium and heroin addicts, and that the effects are tugging at the social fabric. The discussion has spurred efforts to stop the flow of Afghanistan's opium, morphine and heroin into Iran, and thence to Turkey and Western Europe. The security forces have stationed 30,000 men on the long border, and fortified lengths of it with trenches and concrete barriers. During a violent period at the end of last year, this border force, which has lost 3,000 men in two decades of fighting the smugglers, was ambushing well-armed gangs almost daily. Their efforts have brought some eye-catching successes. Iran claims 85% of world-wide opium seizures last year, and 45% of morphine and heroin seizures. In February the police raided "Cannibal Island", a squalid corner of Tehran and its biggest drugs supermarket. They arrested about 500 people, before bulldozers razed the area. "It's difficult to see what more they can do," said an admiring Keith Hellawell, the head of Britain's anti-drugs campaign, when he visited Iran earlier this year. "It's a war." To give itself a better chance, Iran has modified its foreign policy. Rather than persist with its refusal to talk to the Taliban, Iran is now helping the Afghan government to transform its poppy fields into prairies of wheat. The UN says that the Taliban may have cut poppy cultivation by 70%. Indeed, in the past three months, the price in Tehran of a mesqal of opium, the five-gram unit of choice, has soared from $2.50 to $9. But talk of victory is premature. However courageous and efficient they are, Iran's border forces and police probably intercept no more than 30% of the drugs that enter the country. Junkies and aid workers alike suspect that the rise in opium prices has less to do with crop substitution and record hauls than it has to do with stockpiling. Moreover, the price of heroin, which is more addictive and more lethal than opium, has stayed absurdly cheap: one (highly adulterated) hit in Tehran costs 50 cents.

Commission in the European Union

As a staff member of the Directorate-General of the European Commission I have been appointed to describe to you the composition and the powers of the Commission in the European Union. In the following paragraph I will describe the body of the Commission divided in three pillars: First you have the College of the Commissioners, then the Directorate-General (DGs) and lastly the cabinets. In the Third paragraph I will briefly describe the powers of the Commission and in the last paragraph I will conclude with an opinion on the question, as to how far I consider the European Commission to have â€Å"a vocation to further the interests of the community as a whole†. The Commission consists of twenty-seven Commissioners, one for each Member State including the President of the Commission and the High Representative of the Union for Foreign Affairs and Security. The Commissioners are responsible for the work of the commission stated in Art. 17 of the TEU, and are therefore not allowed to have any other duties during their period of office that could bring about any conflict of interest. If a Commissioner fails to do so, the Court of Justice may retire the member concerned on application of the Commission or the Council acting on a simple majority. The exception to this rule is, the High Representative of the Union for Foreign Affairs and Security Policy who is a member of the Commission responsible for the conduct of the EU Common Foreign and Security Policy and its security and defense policy but also takes part in the work of the EC, presides over the Foreign affairs Council and carries out mandates of the Council. The High representative is appointed by QMV with agreement of the President of the Commission, and may be dismissed the same way. The president of the Commission is proposed to the European Parliament by the European Council acting by a qualified majority, and is elected in the European Parliament. The president is the most powerful Commissioner and has several important roles: he/she adopts the list of the persons whom it proposes to appoint as members of the Commission, lays the guidelines in which the Commission is to work, decides the internal organization of the commission making sure it works as a body, appoints the Vice-Presidents from among the members of the Commission (other than the High Representative), he can resign Commissioners since they are individually responsible to him. Finally the President has an important role as representative. He represents the Commission at meetings involving the heads of Government and must account to other institutions when there is questioning of the general conduct of the institution or a particular issue raises broader questions. In the current Commission, there are forty Directorates-General (DGs) divided into four groups: policies, external relations, general services and internal services. The majority of the Commission employees work for the DGs. DGs in the Commission are compared to Ministers in a national government. Even though DGs’ work for Commissioners their responsibilities are to the Commission. The work inside the DG focuses on the development of programmes, administration of Community funding and bringing different public and private actors together. You can see the Cabinet as being between the College of Commissioners, representing the political part of the Commission, and the DGs representing the administrative part of the Commission. A Cabinet is composed of seven to eight officials and is appointed by the President. Each Cabinet is the office of a Commissioner and is a line between Commissioners and DGs allowing cooperation between them and helping Commissioner with formulating priorities and policies. They keep Commissioners informed of other happenings in the Commission and help prepare weekly meetings for the College of Commissioners in combination with other Cabinets The powers of the Commission can be broadly explained and interpreted, but the main points can be narrowed down to four specific points: legislative powers, agenda and budget planning, executive powers and supervisory powers. Legislative power as to making sure that the rules in Treaties are being complied with and determining how EU nationals may stay in other States after they have worked there. The Commission is also responsible the budget planning for each year and the making of the agenda. The Commission has executive powers responsible for collecting the revenue for the EU, coordinating the spending of the EU and administering the EU aid to third countries. The Commission has supervisory powers to monitor the compliance of the Member States to the rules of the Union. Does the Commission have â€Å"a vocation to further the interest of the Community as a whole? † I believe it does, by looking at its responsibilities in the Union itself proves this. And if you look at the statement made by the Court of Justice where it says that â€Å"Commissioners are required to ensure that the general interest of the European Union precedes at all times over national and personal interest†. In which I understand that a Commissions’ work should be emphasized on the whole Community (EU) instead of just one State Member.

A Research Study On School Students With Disabilities

As the United States became more accepting towards students with disabilities in the 1930’s, the word remedial began to be used as a label for these types of students. Previous definitions of the word were used as a medical term to describe how a certain disease was slowing down, for example a cancerous cell in remission. The word remedial itself had been around since the 1650’s, originally Latin for a cure of an ailment or disease. As the word progressed into the medical field involving children, it was used to describe something that was noticeable at birth, an obvious disability. This meant they were slower than the rest and would need counteractive measures to help them catch up. Up to this point, more and more students with†¦show more content†¦Special education started in the U.S. right after World War II when a number of parent-organized advocacy groups surfaced. The revolutionary group that began the advocacy for special education was the American Assoc iation on Mental Deficiency, which held its first meeting in 1947. This group had come up with good ideas for special education legislation, but it took almost 30 years until the first public act, The Education for All Handicapped Children Act, was erected by Congress in 1975 (Triano 1). This public law was meant to help states and districts by â€Å"protecting the rights of, meeting the individual needs of, and improving the results for infants, toddlers, children and youths with disabilities and their families† (PL 94-142). This law was finally implemented in 1977, becoming the first genuine legislative foundation for federal funding of special education. In 1990, the law had been renamed to the Individuals with Disabilities Act (IDEA) since the entire act included various types of people with disabilities, not just children (Triano 2). The reason was that almost no progress was shown for disabled students and persons from 1977 until the law’s renaming brought the c ause back to life. In a study by the U.S. Department of Education in 1970, only one in five disabled students were being educated in schools. Other states had even put