The quantity theory of money explains the link between inflation and money growth. The
equation of exchange tells us that the quantity of money times the velocity of money equals
nominal GDP. Money growth plus velocity growth equals inflation plus real growth. If velocity
and real growth were constant, the central bank could control inflation by keeping money growth
constant. In the long run, velocity is stable, so controlling inflation means controlling money
In the short run, the velocity of money is volatile. Shifts in velocity are caused by changes in
the demand for money. The demand for money depends on income, interest rates, and the
availability of alternative means of payment. The portfolio demand for money depends on the
same factors that determine the demand for bonds: wealth, expected future interest rates, and
the return, risk, and liquidity associated with money relative to alternative investments.
The quantity theory of money and theories of money demand have a number of implications for
monetary policy. Countries with inflation can reduce inflation by controlling money growth.
Countries with inflation can control inflation by targeting money growth only if the demand for
money is stable in the short run.
In the United States, the relationship between the velocity of M2 and its opportunity cost (the
yield on an alternative investment) has proven unstable over time. The instability of money
demand in the United States has caused Federal Reserve policymakers to pay less attention to
money growth than to interest rates. In the euro area, ECB officials view money demand as
relatively stable, so they pay more attention to money growth than the Fed does.
Analysis macro state of the country with respect to the country ability to maintain stable price (P
) through monetary policy in future. (You should state in your analysis: what is the appropriate
target for the monetary policy: it is Money growth or interest rate? And also you should explain
To analyze the current state of the macro economy.
To become familiar with the sources and presentation of economic data.
To practice writing brief academic reports.
State the theoretical explanation of the case as you have learned in the class. (50 point)
Plot the chosen variables in one or multiple graphs. (50 point)
Prepare a 2-3 page typewritten evaluation report (based on what see from data and graphs).
What is So Good About Clubbing? Presentation Hyder (1995) has contended that clubbing is one of the significant types of youth utilization and involvement in towns and urban areas over the UK. Clubbing is so prevalent among the youthful that it is presently a billion pound industry which is developing constantly, and which is enjoyed by both utilized and jobless alike. Numerous youths invest their energy checking the hours to Friday night when they can begin moving the end of the week away, with an expanding number likewise getting to be included with delicate medication taking. This task will research the developing inclination for some youngsters to design their lives around the clubbing scene. It will take a gander at various examinations on this to attempt and discover why youngsters want to experience their lives along these lines and to endeavor to discover a response to the inquiry "What is so great about clubbing?" Youth Subcultures Customarily, sociologists viewed youth as the change organize among adolescence and adulthood. This is the by and large acknowledged functionalist perspective of youth. Youth gives a connection between the transmitted estimations of adolescence and the changing estimations of adulthood. Eisenstadt (1956) kept up that youngsters managed this contention through various dress styles and esteem sets. This helped them to manage the progress in separating themselves from their folks and in the meantime it gave them their own guidelines by which they would experience their lives. Be that as it may, functionalists did not manage separate gatherings of youngsters, rather they saw this procedure as an element of everybody making that progress. Since these issues are looked by each succeeding age of youngsters it prompts the advancement of a particular youth culture (Moore, 1996). The Marxist methodology in any case, focuses on the substance of youth culture and the distinction in social foundations. Cohen (1972) attempted one of the most punctual Marxist examinations into what he alluded to as youth subcultures. While this examination was confined to young people in East London quite a bit of what he needed to state has been drawn on over and over by individuals working in both human science and in social investigations. Cohen trusted that so as to really comprehend youth subcultures they should have been inspected both in their quick setting and in the more extensive setting. Lea and Young (1984) keep up that adolescent subcultures mirror a variety of gatherings that are not by any means separated from the more extensive society, rather they ponder what is going at a more extensive dimension. The Macro/Micro and Clubbing What is happening on the planet influences how youth subcultures create. In contemporary Britain there is an unquestionably more maverick and gluttonous mentality than at some other time since the Second World War. This debauchery or delight for the good of pleasure is reflected in the expanding number of youngsters whose lives rotate around clubbing. In this manner Cohen was correct when he said that so as to comprehend youth subcultures one needed to look at the nearby (smaller scale) setting and the more extensive (full scale) setting. Progressively clubbing is seen by numerous scholars as a reaction to and outcome of city life. Skelton and Valentine (1998) talked with three youngsters who visited diverse clubs. The scientists found that some youngsters regularly enjoyed weed and liquor before visiting a club, to place them in the correct mind-set. Bliss is frequently utilized in specific strands of clubbing (Saunders, 1995). The scientists found that numerous youngsters wanted to be a piece of a gathering in a restricted setting as opposed to an outsider in the outside world and a significant number of them would take delicate medications so as to do this. Parker (2003) embraced an investigation on youngsters, clubbing and medication taking, in three scenes in the North West of England. The first was a downtown area club with a substantial lesbian and gay client base, another was arranged on the edge of the city and played diverse kinds of move music, the third was initially an away recreation focus however now facilitated distinctive bad-to-the-bone rave type occasions. The examination was keen on youngsters' security yet focused on those adolescents who moved and utilized medications. The examination looked to comprehend methods for inquiring about an illicit movement on a substantial scale, and in semi-private settings, for example, night clubs. Medication taking was normal and a few adolescents would club all end of the week. Different examinations have discovered that the acts of clubbing include their own standards and guidelines, for example, ability in development and moving (Crossley, 1995). Clubbers build up their very own standards and principles as a methods for opposition. Herman and Ott (2003) found that clubbing, and especially rave clubs, were the two destinations and methods for obstruction for those youngsters who were feeling distanced from standard society. Despite the fact that Brewster and Broughton (2000) have noticed that while clubbing is great, a rave is a romanticized type of clubbing since its defenders trust they are starting something new. Herman and Ott (2003) found that clubbing, to some degree included lost self as limits between people were divided or survive and the clubbers progressed toward becoming as one network. They additionally discovered that this mutual sense was upgraded by the taking of rapture – a specific most loved of the rave clubs – in light of the fact that it was not only a medication, rather it raised cognizance among the individuals who took it. Jackson (2003) keeps up that clubbing is an essential social affair that merits further clarification. As we saw before clubbing has its standards of development and move, along these lines clubbing is an exceptionally physical affair and this makes it a typified understanding and consequently and imperative wellspring of social information. Clubbing is exceptionally identified with the city, it is a piece of the city around evening time and as Alvarez (1996) contends this is a period when the city wakes up – clubbing is an essential piece of that life: Night in the city is time out – time for relaxation and closeness, family and darlings, interests and diversions, perusing and music and TV. It is additionally the ideal opportunity for fervor and festivity: theaters, films, shows and party– going, wining, feasting, moving and betting. For individuals who hold down exhausting or inadmissible occupations, night is the point at which they believe they lead their genuine lives (Alvarez, 1996, p.295). It is upon this comprehension of the city and the night that clubbing is assembled. Clubbing makes youngsters feel invigorated it is subsequently a fundamental piece of their 'genuine' lives. Jackson (2003) keeps up that as opposed to much prevalent reasoning, clubbing isn't restricted to youth and youth subcultures – rather it is a piece of the more extensive social mileu in which these things have their reality. Parker's (2003) examination additionally recommended this may be the situation as in the underlying overview investigate some clubbers were in their fifties which can scarcely be depicted as youthful. Jackson (2003) contends that having a more extensive age go demonstrates the verifiable part of clubbing and how it might have changed after some time. The change from clubs as private, late night drinking foundations to places where excitement was on the plan and cannabis and joy later ended up key components of this scene, is the thing that intrigued advertisers in the attractiveness of the clubbing scene as a standard relaxation interest (Jackson, 2003). End Plainly clubbing can never again be viewed as the save of youth sub societies, rather it is something that is delighted in by an assortment of gatherings, every one of whom discover something that interests to them and is a pleasant piece of their experience. It is ostensibly the situation that clubbing can have the impact of making a man some portion of a tip top gathering. Then again, clubs are with the end goal that they can likewise give space to people who are burnt out on the absence of this in the bustling urban areas in which they live. Clubbing enables individuals to relax and to enjoy liquor, unlawful delicate medications, and moving. Clubs are where you can meet others or be independent from anyone else and it is this all inclusiveness of experience that makes clubbing useful for countless. Reference index Alvarez, A. 1996, Night: An Exploration of Night Life, Night Language, Sleep and Dreams, London: Vintage. Brewster, B., and Broughten, F. 2000. The previous evening a dj spared my life: the historical backdrop of the plate maneuver. New York: Grove Press. Cohen, P 1972 Sub-Cultural Conflict and Working Class Community Working Papers in Cultural Studies No.2 University of Birmingham Crossley, N. 1995 'Body systems, office and intercorporeality: on Goffman's Relations in Public', Sociology 29, 1:133-49. Eisenstadt, S 1956 From Generation to Generation New York, Free Press Herman, B and Ott, B 2003 " Mixed Messages: Resistance and Reappropriation in Rave Culture" Western Journal of Communication Vol 67 2003 Hyder, K. 1995 'Euphoria's lethal mixed drinks', Observer, 13 August: 10 Jackson, P 2003 Inside Clubbing: The Art of Being Human New York, Berg Lea, J and Young, J 1984 What is to be Done About Law and Order Harmondsworth, Penguin Moore, S 1996 Investigating Crime and Deviance London, Collins Educational Parker, H 2003 Dancing on Drugs The Sociological Review Saunders, N. 1993 E for Ecstasy, London: Neal's Yard Press. – 1995 Ecstasy and the Dance Culture, London: Neal's Yard Press. Skelton, T and Valentine, G eds 1998 Cool Places: Geographies of Youth Cultures London, Routledge. Commentaries  The study was a methods for achieving the individuals who were matured 30 and under. Individuals from the more youthful gathering were then chosen for meeting. Refer to This Work>GET ANSWER