Most Important Function Of The International Monetary Fund Finance Essay

Most Important Function Of The International Monetary Fund Finance Essay As Mussa says In official discussions of the role of the International Monetary Fund (IMF), especially at meetings of the IMF Executive Board and of the ministerial-level International Monetary and finance Committee, it is often observed that surveillance is the IMFs most important function.  [1]   Evidence on the importance of this function is what I quote from the literature of Murilo Portugal who points out that: One of the main purposes of the IMF is to promote international cooperation on monetary and financial affairs, being the machinery for consultation and collaboration on these issues. However, of all IMF functions this is the one that is least developed. This function is currently performed by means of exercises of multilateral surveillance of global economic and financial conditions. Two major reports are prepared twice a year for that purpose, the World Economic Outlook and the Global Financial Stability Report. These reports are discussed by the Executive Board and later taken up by the IMFC, both of which make generic exhortations to certain countries or group of countries to pursue policies that are considered appropriate from their own perspective, but that are also required from a global point of view. There is, however, a clear need to enhance the effectivene ss of multilateral surveillance.  [2]   Mr Lars Heikensten said the following on surveillance: The IMFs key instrument for reaching its overall objective should be its preventive activities, which are primarily carried out within the scope of its surveillance function. The IMFs primarily role is not to treat illnesses but to prevent them from breaking out. Much can be done to bolster the IMFs surveillance function, both as regards individual countries but also, to an increasing extent, by way of a stronger regional and global focus. This change in emphasis can, among other things, be motivated by the fact that globalisation and increased integration has resulted in a situation where more and more countries national policies give rise to externalities. A strong multilateral surveillance function could contribute, more clearly than today, to creating a broad international discussion of global imbalances, incorrectly valued exchange rates, etc., which generate risks to stability both in individual countries and in the interna tional financial system as a whole. In this context, it is crucial that the member countries accept and support the role that has been given to the IMF, including taking seriously its advice and recommendations. We are often more keen to underline the importance of the IMFs surveillance function for other countries than we are to be guided by the IMFs analyses of our own countries. This is not beneficial for the IMFs credibility.  [3]   For more several reasons, one of them is that we are now living the globalization era and as I cite from the IMF official website that In todays globalized economy, where the economic and financial policies of one country may spill over to affect many other countries, international cooperation on a global scale to monitor and influence economic developments is essential. With its nearly universal membership of 185  countries, IMF surveillance provides the mechanism for this cooperation. Effective surveillance contributes to a stable international monetary system that sustains sound economic growth through the following mutually-reinforcing processes: multilateral surveillance, or oversight of the world economy; and bilateral surveillance which comprises appraisal of and advice on the policies of each individual member country to promote external and domestic stability (including growth); analysis of cross country spillovers; and sharing of the aggregate experience of 185 members.  [4]   Another reason is that the supervision of fiscal transparency or supervision of monetary and financial transparency goes under, acts and interacts with the function of surveillance which monitors the policies chosen by the governments and the central banks of the member families and the. The Fiscal transparency entails being open to the public about the structure and functions of government that determine fiscal policies and outcomes, and the past, present, and future fiscal activities of government. Such transparency fosters better-informed public debate, as well as greater government accountability and credibility.  [5]   And the transparency of the Monetary and financial policies can be more effective if their objectives, rationale, and methods of implementation are communicated to the public in a clear and timely manner. Such transparency by central banks and financial agencies responsible for supervision and regulation of financial institutions and markets can also foster more informed market expectations, and greater public accountability.  [6]   Another reason is that the IMF will not start the process of lending unless it has the information about the member country that has the need, so the lending process comes after the process of surveillance. When its member countries experience balance of payments (BOP) difficulties, either through capital account or current account crises, the IMF can make loans designed to help them stabilize their international payments situation and adopt policy changes sufficient to reverse their situation and overcome their problems. In some cases, the IMF makes short-term loans to help prevent countries economies from spiraling into financial crisis and to facilitate renewed inflows of private sector capital.  [7]   And even there are a lot of critics on the IMF that it is giving a lot of long term loans which should be the role of the World Bank or other big market lenders as the World Bank has the better experience, competence, the ability and the support from the member countries to perform long term loans. As Dr Rosa emphasised It also argues that the main role of the IMF should increasingly delegate the role of long-term lending for structural purposes to the World Bank.  [8]   And she continues It is the World Bank, however, that has the staff and the technical expertise to develop and cost sectoral strategies together with client countries. The IMF, therefore, should work closely with the World Bank to ensure that the macroeconomic frameworks of client countries reflect the financing needs of their poverty-reduction strategies. Achieving this result will entail much-improved coordination in-country between statistical agencies, line ministries, finance ministries, and central banks and, in Washington, between the IMF and the World Bank.  [9]   Then to add that how important the function of surveillance the IMF Executive board decided to update and enhance this function by approving its new frame work. On a Statement by IMF Managing Director Rodrigo de Rato on IMF Executive Board Decision to Approve New Framework for Surveillance I get this quote: The change we are making is the first major revision in the surveillance framework in some 30 years, and it is the first ever comprehensive policy statement on surveillance. The new decision reflects current best practice in our work of monitoring members exchange rate policies and domestic economic policies. It reaffirms that surveillance should be focused on our core mandate, namely promoting countries external stability. And it gives clear guidance to our members on how they should run their exchange rate policies, on what is acceptable to the international community, and what is not.  [10]   The IMF should use the tools it has of bilateral and multilateral surveillance all the way through to encourage financial stability by making analysis for the day to day work with the members and by making these info available for all financial actors in addition to policy makers and market participants.  [11]   For all of that I think that the most important function of the IMF is surveillance and what it needs is more support from the member countries and from the IMF in implanting its policies for the better function of the economical structures of the countries in the open global economic world of today.

American Literature and English Language Teaching Essay

M. A. Course in English shall comprise 4 semesters. Each semester shall have 4 courses. In all, there shall be 16 courses of 5 credits each. Each course shall carry 100 marks. Of these, 70 marks shall be reserved for theory (end-Semester examination) and 30 marks for tutorials/seminars (internal assessment). However, in course 5, titled â€Å"Linguistics and English Language Teaching†, only 50 marks shall be reserved for theory (end-Semester examination), 20 marks for Practical/Viva-voce exam and 30 marks for tutorial/seminars (internal assessment). Of these courses, Course Nos. 1 to 11, 13 and 14 shall be treated as Core Courses, Course nos. 12 and 15 as Elective Courses and Course No. 16 as Allied Elective Course open even to the students of other departments/faculties. The starred items are meant for detailed study. The theory component of each paper shall be of three hours’ duration. Pattern of Question Papers 1]The pattern of question paper in respect of course nos. 1,8,11,13,14,15,16 (Indian Literature in Translation, Women Writing and European Literature in Translation) shall be as follows: Section A (a) Two Long-Answer-Type Questions (500 words each) with internal choice – 2Ãâ€"12=24 Section B. (b) Six Short-Answer-Type Questions (200 words each) out of nine questions– 6Ãâ€"6=36 Section C (c) Ten Objective-Type Questions to be answered in a word or sentence each – 10Ãâ€"1=10 2]The pattern of question paper in respect of course nos. 2,3,4,6,7,9,10,12,16 (New Literatures in English) shall be as follows: Section A (a) Two Long-Answer-Type Questions (500 words each) with internal choice – 2Ãâ€"12 =24 Section B (b) Three passages for explanation out of 5 passages from the starred items to be answered in 200 words each – –3Ãâ€"6 = 18 Section C (c) Three Short-Answer-Type Questions out of 5 questions to be answered in 200 words each – – 3Ãâ€"6 = 18. Section D d) Ten Objective-Type Questions to be answered in a word or sentence each – 10Ãâ€"1=10 3]The pattern of question paper in respect of Course No. 5 (Linguistics and English Language Teaching) shall be as follows: Section A (a) Two Long-Answer-Type Questions (500 words each) with internal choice – 2Ãâ€"10=20 Section B (b) Four Short-Answer-Type Questions (200 words each) out of six questions – 4Ãâ€"5=20 Section C (c) Ten Objective-Type Questions to be answered in a word or sentence each – 10Ãâ€"1=10 SEMESTER I Course 1: Introduction to Linguistics – ENG – 101 1. (a)Key properties of Language b) Language varieties. 2. (a)Major concerns of Psycholinguistics and Sociolinguistics b) Historical approach, Descriptive approach 3. Major concepts in Linguistics: a) Syntagmatic and Paradigmetic axes b) Differential Calculous c) Constituent Structure d) Transformations and Deep Structure 4. Stylistics, its methods and limitations. Course 2: Poetry I (Chaucer to Blake) – ENG – 102 Chaucer:Prologue to Canterbury Tales (Modern version) *Shakespeare’s Sonnets No. 18, 30, 63, 130 *Milton:Paradise Lost, Book I *Donne:The Blossom, The Canonization, The Good Morrow Marvell:To His Coy Mistress *Pope:The Rape of the Lock. *Gray:Elegy Written in a Country Churchyard *Blake:The Tiger, Ah! Sun-flower Course 3: Drama I (Marlowe to Wilde excluding Shakespeare) – ENG – 103 *Webster:The Duchess of Malfi *Marlowe:Dr. Faustus *Jonson:The Alchemist Congreve:The Way of the World *Wilde:The Importance of Being Earnest Origin and Growth of the British Theatre Course 4: Prose– ENG – 104 *Bacon:Of Truth; Of Death; Of Adversity; Of Great Place; Of Parents and Children Addison & Steele:Of the Club; The Coverley Household; Labour and Exercise; Sir Roger at the Theatre (Coverley Papers from the Spectator, ed. K. Deighton, Macmillan). *Lamb:Christ Hospital; New Year’s Eve; Imperfect Sympathies *Carlyle:Hero as Man of Letters Russell:Science and War; Science and Values (from The Impact of Science on Society) Huxley:Tragedy and the Whole Truth (from W. E. Williams, ed. A Book of English Essays) SEMESTER II Course 5: Linguistics and English Language Teaching– ENG – 201 1. Phonology:(a) Speech mechanism and the Organs of Speech (b) Consonants, Vowels, Diphthongs (c) Phoneme (d) Stress, Intonation 2. Morphology:Morphemes: Words and Affixes 3. Syntax:(a) I. C. Analysis and its limits (b) Transformations of Movement, Addition, Substitution, Deletion. (c) Coordination and Subordination 4. English Language Teaching:(a) Direct Method (b) Audiolingual Method (c) Communicative Language Teaching (d) Error Analysis (e) Teaching skills of Language: listening, speaking, reading, writing. (f) Testing Course 6: Poetry II (Wordsworth to Arnold) – ENG – 202 *Wordsworth:The Prelude, Book I *Coleridge:Kubla Khan *Shelley:Adonais *Keats:Ode to a Nightingale, Ode on a Grecian Urn *Tennyson:Ulysses, The Lotos Eaters *Browning:Rabbi Ben Ezra, Porphyria’s Lover *Arnold:The Scholar Gypsy Course 7: Drama II (Shakespeare) – ENG – 203 Henry IV, Part I. Twelfth Night *Hamlet *The Tempest Shakespeare Criticism: Dr. Johnson, Bradley, Wilson Knight, Caroline Spurgeon, Stephen Greenblatt. Course 8: Fiction I (Defoe to Hardy) – ENG – 204 Defoe:Moll Flanders Fielding:Joseph Andrews Austen:Emma Dickens:Great Expectations Eliot:Middlemarch Hardy:Tess of the D’urbervilles SEMESTER III Course 9: Poetry III (Hopkins to Ted Hughes) – ENG – 301 *Hopkins:Pied Beauty; The Windhover; Carrion Comfort *Yeats:Sailing to Byzantium; Byzantium; No Second Troy; Coole Park and Ballyle *Eliot:The Waste Land *Auden:In Memory of W. B. Yeats; The Shield of Achilles. *Larkin:Church Going; Next, please; At Grass *Ted Hughes:The Thought-Fox; Hawk Roosting Course 10: Drama III (Twentieth Century Drama) – ENG – 302 *Shaw:Man and Superman *Yeats:Countess Cathleen *Eliot:Murder in the Cathedral *Beckett:Waiting for Godot *Pinter:The Birthday Party Course 11: Literary Criticism & Theory 1– ENG – 303 Aristotle:On the Art of Poetry Bharatamuni:On Natya and Rasa: Aesthetics of Dramatic Experience Anandavardhana:Dhvani: Structure of Poetic Meaning Dryden:Essay on Dramatic Poesy Wordsworth:Preface to Lyrical Ballads Coleridge:Biographia Literaria (Chs. XIII, XVII & XVIII) Arnold:The Study of Poetry (Essays in Criticism Book II) Course 12: Indian Literature in English I – ENG – EL-3. 1 *Tagore:Thou hast made me endless; Leave this chanting and singing; I am like a remnant of a cloud; In one salutation to thee (Gitanjali) *Sri Aurobindo:Savitri Book I Canto I (Passages for explanation to be set from the first 64 lines) *Girish Karnad:Nag-Mandala The following poets from Ten Twentieth Century Indian Poets ed. R. Parthasarathy (OUP): *Nissim Ezekiel:Poet, Lover, Birdwatcher; Background, Casually; Enterprise *Jayant Mahapatra:Grass, Lost. *A. K. Ramanujan:A River; Love Poem for a Wife I; Obituary *Kamala Das:My Grandmother’s House; A Hot Noon in Malabar; The Invitation OR American Literature I– ENG – EL-3. 2 The following from American Literature of the Nineteenth Century (Eurasia) and American Literature 1890-1965 (Eurasia): Emerson:The American Scholar, Self-Reliance, The Over-Soul Poe:*The Raven, The Fall of the House of Usher, The Philosophy of Composition Whitman:*When Lilacs Last in the Dooryard Bloom’d, Passage to India *Wallace Stevens:The Emperor of Ice-cream, Sunday Morning. *Emily Dickinson:I Taste a Liquor Never Brewed, I Felt a Funeral in My Brain, The Soul Selects Her Own Society, Because I Could not Stop for Death, These Are the Days When Birds Come *Tennessee Williams:A Streetcar Named Desire Edward Albee:Zoo Story SEMESTER IV Course 13: Fiction II– ENG–401 Conrad:Heart of Darkness Woolf:Mrs. Dalloway Joyce:A Portrait of the Artist as a Young Man Lawrence:Women in Love Kingsley Amis:Lucky Jim Course 14: Literary Criticism & Theory II – ENG – 402 Eliot:Tradition and the Individual Talent; The Function of Criticism; Hamlet (Selected Essays) Richards:Principles of Literary Criticism (Chs.IV-XV, XXI, XXXIV, XXXV and Appendix A – On Value) Ransom:A Note on Ontology (Twentieth Century Criticism: The Major Statements, eds. Handy and Westbrook) The following critics from David Lodge, ed. Modern criticism and Theory : A Reader (London : Longman, 1988) The following critics from David Lodge, ed. Modern Criticism and Theory: A Reader (London: Longman, 1988) Saussure:Nature of the Linguistic Sign Derrida:Structure, Sign and Play in the discourse of the human Sciences Said:Crisis (in Orientialism) Showalter:Feminist criticism in the Wilderness Eagleton:Capitalism, Modernism and Postmodernism. Course 15: Indian Literature in English II – ENG – EL-4. 1 Mulk Raj Anand:Untouchable R. K. Narayan:The Financial Expert Raja Rao:The Serpent and the Rope Anita Desai:Voices in the City Salman Rushdie:Midnight’s Children Amitav Ghosh:The Shadow Lines Jawahar Lal Nehru:An Autobiography OR American Literature II – ENG – EL-4. 2 Hawthorne:The Scarlet Letter Melville:Billy Budd Faulkner:Light in August Hemingway:A Farewell to Arms Ralph Ellison:Invisible Man Saul Bellow:Humboldt’s Gift Course 16: Indian Literature in Translation – ENG – EL-4. 3 The following poets from Oxford Anthology of Modern Indian Poetry eds. Vinay Dharwadker & A. K. Ramanujan: Sitanshu Yashashchandra:Drought V Indira Bhavani:Avatars Ali Sardar Jafri:Morsel Paresh Chandra Raut:Snake Tagore:Homecoming; My Lord, The Baby Shrilal Shukla:Rag Darbari Tendulkar:Ghasiram Kotwal Ananthamurthy:Samskara Translation, Theory and Practice OR New Literatures in English – ENG – EL-4. 4 The following poets from An Anthology of Commonwealth Poetry ed. C D Narasimhaiah, Macmillan: *A. D. Hope:Australia; The Death of the Bird *Atwood:Journey to the Interior *A. K. Ramanujan:Death and the Good Citizen; Waterfalls in a Bank (The Collected Poems of A.K. Ramanujan, OUP) *Agha Shahid Ali:Showman; The Season of the Plains (Twelve Modern Indian Poets ed. A. K. Mehrotra, OUP) Chinua Achebe:Things Fall Apart V. S. Naipaul:A House for Mr. Biswas Wole Soyinka:The Road Patrick White:Voss Nadine Gordimer:The Burger’s Daughter OR Women Writing– ENG – EL-4. 5 The following poets from The Faber Book of 20th Century Women’s Poetry ed. Fleur Adcock: Margaret Atwood:Siren Song Adrienne Rich:Snapshots of a Daughter-in-Law U A Fanthorpe:Not My Best Side Sylvia Plath:Lady Lazurus Gwendolyn Brooks:A Sunset of the City Shashi Deshpande:That Long Silence  Charlotte Bronte:Jane Eyre Tony Morrison:Beloved Mary Wollstonecraft:A Vindication of the Rights of Women John Stuart Mill: The Subjection of Women Virginia Woolf:A Room of One’s Own OR European Literature in Translation – ENG – EL-4. 6 Sophocles:Oedipus the King Dostoevsky:Crime and Punishment Flaubert:Madam Bovary Kafka:â€Å"Metamorphosis† Alberto Moravia:The Woman of Rome Brecht:Mother Courage Baudelaire:Les Fleurs du mal (Flower of Evil) Rilke:The Sonnets to Orpheus No. X; The First Elegy (Duino Elegies); The Poet, Remembrance (from Collected Poems of Rainer Maria Rilke, Modern Library, New York). l

Leading on from the National Biotechnology Policy in Malaysia

vi. Malaysia Leading on from the National Biotechnology Policy and its nine thrusts, Malaysia’s Bioeconomy Transformation Programme (BTP) intensifies the nation’s transformation to a global high-income country. â€Å"The National Biotechnology Policy was launched in 2005; its nine thrusts include 1. Agricultural: Enhance the value creation of the agricultural sector, 2. Healthcare: Commercializing the discoveries of the agricultural sector, 3. Industrial: Increase opportunities for bioprocessing and bio-manufacturing, 4. Research and Development: Establish Centres of Biotechnology Excellence, through research and development, 5. Human Capital Development: Build the nation’s human capital through education, training and research†¦show more content†¦These 10 EPPS include The 10 EPPs include industrial bio-inputs, biochemicals, biomaterials, bio-based farm inputs, high value bio-ingredients, high value food varieties, biosimilars, drug discovery and pre-clinical services, molecular screening and diagnostics (MSD), as well as stem cells and regenerative medicine. Within these 10 EPPs, 20 private sector-driven Trigger Projects constitute the initial tranche of ventures launched. In addition to these significant economic impacts, the BTP is also geared to benefit society and the nation by improving individual incomes especially those of rural communities, through projects and programmes with high inclusiveness factors. This can be achieved through the implementation of Trigger Projects involving contract farming mechanisms. 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An Introduction to Mandarin