Utilitarian Moral Theory Essay Example for Free

Utilitarian Moral Theory Essay Present in your own words the basic elements of a utilitarian moral theory. Utilitarianism is established as a theory promoting increasing utility and especially the happiness of as many people as possible. Utilitarian’s believe the function of morality as a social institution, is to advocate humans well-being by increasing welfare and decreasing damage. Thus, moral rules are regarded as a way to accomplish individual needs and meet social aims. The first basic element of a utilitarian moral theory is The Principle of Utility. In which, it’s important to understand that behaviours are considered correct when they foster happiness and wrong when they spread unhappiness. The public benefits of health care, research, medicine and so on should be maximised. The second element is A Theory of Value, in which utilitarians consider what is good as happiness, fulfilment of wants and ambitions and achieving conditions such as liberty, understanding, security, health and deep relationships with loved ones. Utilitarians tend to look into production of good as an innate value, which doesn’t differ among people. Hedonistic approaches conceive that only happiness can be inherently good, conversely pluralistic approaches believe that values other than happiness have worth such as personal victory, knowledge, friendship, autonomy, love and culture. Since the hedonistic and pluralistic approaches tend to clash, many utilitarians define good as being an object or substance that is subjectively coveted and wanted. The third element, Consequentialism means that actions are only seen as right when the results of actions are good not when the intent of actions is good. It doesn’t mean that future results should be foreseen, only that when judging the cause of an action it should be ensured that the consequence of that action endeavours to generate the best utilitarian conclusion. The last element is Impartiality which means all parties concerned in an action must be considered impartially. From a moral perspective people should receive unbiased judgement regardless of their gender, race and disabilities. This utlilitarian theory comes under general normative ethics. There are many elements of utilitarianism but the four described above are the most important ones and must be met for the sake of permitting a utilitarian theory.

The Ghost of Christmas Present :: Essays Papers

The Ghost of Christmas Present Christmas has consumed itself. At its conception, it was a fine idea, and I imagine that at one point its execution worked very much as it was intended to. These days, however, its meaning has been perverted; its true purpose ignored and replaced with a purpose imagined by those who merely go through the motions, without actually knowing why they do so. Christmas was originally supposed to be a celebration of the birthday of Jesus Christ. Modern historians suggest that Christ was actually born sometime in April, but that is hardly the point; the point is that a day on which to celebrate his birth and life was needed, and so one was chosen. During the season surrounding this holiday -- especially since it coincided with that of other, similar holidays -- it was thought right to honor Jesus by acting as he did, i.e., in a kind, generous, and forgiving manner. Out of this sprung the custom of giving gifts to loved ones on this holiday. However, as may be expected from our modern society, the custom of giving gifts quickly turned into the practice of exchanging them. If one gives gifts to loved ones at Christmas, the reasoning goes, then those who do not receive gifts from a person are obviously not loved by him/her. So each individual now is required to give a gift to all of his/her friends, or risk communicating to them that s/he no longer loves them -- or perhaps never did! Also, there arises another problem when someone gets a gift from a person to whom they did not give one. The logic here is that the one who gave the gift obviously has a greater love for or places a greater value on the friendship than the one who did not. A decidedly awkward situation arises from this, one can imagine. Gift-giving nowadays is no longer an act of kindness, but rather a political measure, taken to ensure one’s status with one’s acquaintances. While the general feeling of "goodwill towards men" still pervades the season, albeit filtered through television and municipal decorating projects, there is a great tension that precedes the actual Christmas holiday itself. I remember Christmases of my youth as enjoyable times, to be sure, but also as times when it was best to stay clear of my mother, who was inevitably in

IB Interesting Facts Essay

1968, IB, standing for the International Baccalaureate, has been founded as a non-profit educational organization at the International School of Geneva. It was created by teachers at the school, in addition to help from teachers from all over the world. Today, the International Baccalaureate has grown into a university preparatory program that has been divided, in most schools, into three programs for students as young as 3 years old to students 19 years old. †¢It was first created to accommodate English and French. †¢It is aimed at developing a global awareness for its students. In other words, students learn how to accept global cultures, perspectives. †¢IB first originated in private schools. Over the years, this changed so that nearly fifty-percent of all schools providing the International Baccalaureate would be government owned and thus free of tuition. †¢The fact that many governments all over the world have adopted the International Baccalaureate shows the confidence that they have that their future generations will truly be better off in this type of curriculum. †¢It was through the efforts of Alec Peterson (director of the Department of Educational Studies, Oxford University) that universities recognized the International Baccalaureate. †¢At first, in the beginning of the 1980s, the International Baccalaureate was viewed as a threat from some governments all over. Governments believed that the International Baccalaureate would draw their children away from their national educational systems. †¢However, this idea was later refuted and the International Baccalaureate was viewed as a enhancement to their educational systems and was later adopted at a very rapid rate. †¢Today, people who acquire the International Baccalaureate get accepted to the top universities all over the globe (in North America, Europe, UK, etc) †¢IBO, in 1994 founded the International Baccalaureate Middle Years Program for students aged eleven to sixteen. †¢In 1997, IBO created the International Baccalaureate Primary Years Program, which is aimed at creating well-rounded and cultured students whom are three to eleven years old. Works Cited â€Å"IB Timeline.† IBO. N.p., n.d. Web. 2 Oct. 2012. .

Bernard Cornwells Sharpe Books in Chronological Order

Bernard Cornwells books about the adventures of British soldier Richard Sharpe during the Napoleonic Wars have been enjoyed by millions, mixing – as they do – a combination of action, combat, and historical research. However, readers can have difficulty putting the many volumes into chronological order, especially as the author has written many prequels and sequels. The following is the correct historical order, although they all stand alone. As youll see by scanning below, the Sharpe series now begins with adventures in India, before moving on to the Napoleonic setting that made Cornwells name; theres also a post-Napoleonic book at the end. All of which begs the question, where is it recommended you start? If you intend to read the whole series, then starting with Sharpes Tiger is a good idea because you can then go through in order as Sharpe grows. But if you want to see if you like the books, or if you want to jump into the Napoleonic Wars, then we actually recommend Sharpes Eagle. Its a strong story and its quintessential Cornwell. TV Adaptations Its also worth pointing out that the main volumes were all filmed for television in the 1990s. Although the signs of a modest budget are present, these visual adaptions are very good, and the boxset is also highly recommended by me. What might confuse people is there were later television shows using the now older actor, but drawing on the prequel books - none of which are essential. Sharpe in Chronological Order Sharpes Tiger: Richard Sharpe and the Siege of Seringapatam, 1799Sharpes Triumph: Richard Sharpe and the Battle of Assaye, September 1803Sharpes Fortress: Richard Sharpe and the Siege of Gawilghur, December 1803Sharpes Trafalgar: Richard Sharpe and the Battle of Trafalgar, October 1805Sharpes Prey: Richard Sharpe and the Expedition to Copenhagen 1807Sharpes Rifles: Richard Sharpe and the French Invasion of Galicia, January 1809Sharpes Havoc: Richard Sharpe and the Campaign in Northern Portugal, Spring 1809Sharpes Eagle: Richard Sharpe and the Talavera Campaign July 1809Sharpes Gold: Richard Sharpe and the Destruction of AlmeidaSharpes Escape: Richard Sharpe and the Battle of Busaco, 1810Sharpes Fury: Richard Sharpe the Battle of BarrosaSharpes Battle: Richard Sharpe and the Battle of Fuentes de OÃ ±oro, May 1811Sharpes Company: The Siege of BadajozSharpes Sword: Richard Sharpe and the Salamanca Campaign June and July 1812Sharpes Skirmish (short story): Richard Sharpe and the Defens e of the Tormes, August 1812Sharpes Enemy: Richard Sharpe and the Defense of Portugal, Christmas 1812Sharpes Honour: Richard Sharpe and the Vitoria Campaign, February to June 1813Sharpes Regiment: Richard Sharpe and the Invasion of France, June to November 1813Sharpes Christmas (short story)Sharpes Siege: Richard Sharpe and the Winter Campaign, 1814Sharpes Revenge: Richard Sharpe and the Peace of 1814Sharpes Waterloo: Richard Sharpe and the Waterloo Campaign 15 June to 18 June 1815Sharpes Ransom (short story, appears in Sharpes Christmas)Sharpes Devil: Richard Sharpe and the Emperor, 1820-21

Terror Management Theory - 1289 Words

Introduction Psych 317 As humans, we are unique from animals in many ways. We have an internal guidance system called a conscience that allows us to think and act in a way close to our deepest values. We have an independent will that does not allow genetic influences or the environment to dictate our actions. We have an infinite creative imagination that allows us to create beyond our reality but perhaps the most uniquely human endowment we all possess is self-awareness. Self-awareness is the recognition of how we feel and how we behave. It also allows us to examine why we exist and ultimately, that we are going to die. While self-preservation is a characteristic to both humans and animals, the understanding of one’s own†¦show more content†¦While this study suggests that there is no need to be around similar people during times of vulnerability, the researchers recognize that the individuals in these groups were mere observers and not actually interacting with each other. Another hypothesis that emerged from TMT research is the anxiety-buffer hypothesis. This hypothesis stresses the importance of high self-esteem and how it can shield individuals from experiencing death anxiety. Individuals with high self-esteem feel that they are an ideal example of their culture and enjoy the protection from the mortality concerns that their culture offers (Hirschberger et al., 2002). Studies that exemplify the anxiety-buffer hypothesis are those that link TMT and risky sexual behaviors. In a 2004 study, researchers noted that by making mortality salient, a willingness to engage in life-threatening behaviors, such as unsafe sex, was reported (Orit Taubman, Ben-Ari). This study suggests that engaging in risky sex represents two facets of vulnerability related to the threat of death. One is the absolute fear or extermination which is associated to having the risky sex and the other is the need to love and have intimacy, a uniquely human trait that is related to self-esteem. Basically, when faced with mortality, humans yearn to fulfill their basic needs of love, even if that means risking life itself (Orit Taubman,Show MoreRelated Terror Management Theory Essay example905 Words   |  4 PagesTerror management theory (TMT) asserts that human beings have natural tendency for self-preservation if there is threat to one’s well–being (Greenberg, Sol omon, Pyszczynski, 1997). It notes that we are the cultural animals that pose self-awareness on the concept of past and future, as well as the understanding that one day we will die. We concern about our life and death but aware that it is unexpected by everything. The worse matter is that we become aware of our vulnerability and helplessnessRead MoreTerror Management Theory1289 Words   |  6 Pagesself-preservation is a characteristic to both humans and animals, the understanding of one’s own mortality is uniquely human. How do we, as humans, deal with the terror that is associated with this knowledge? According to Terror Management Theory (TMT), developed by Jeff Greenberg, Sheldon Solomon, and Tom Pyszczynski (1989), the need for â€Å"terror management† is a fundamental function possessed by humans and cultural systems. Based on the writings of anthropologist Ernest Becker and inspired by Freud’s workRead MoreTerror Management Theory Applied To Ageism In Film1554 Words   |  7 PagesTerror Management Theory applied to Ageism in Film Frida Ramirez Lone Star College – University Park Terror Management Theory applied to Ageism in Film Ageism (prejudice toward the elderly) is becoming a pressing issue as the population of adults over sixty proliferates (Levy Macdonald, 2016, p. 5). Enforcers of ageist stereotypes include the mainstream film industry. By enforcing a negative stereotype, the media subconsciously implements fear of growing old and ultimately dying among its viewersRead MoreThe Simpsons Worst Running Tv Series Of All Time991 Words   |  4 Pagesdome, a massive bomb is placed in an effort to prevent Springfield from further pollution. (The Simpsons Movie). The looming threat that in a short matter of time everyone could be dead. It is at this point that Terror Management Theory takes effect. Terror Management Theory (TMT) is a theory that effects every single human. This also applies to most TV shows, movies, books, poems, and music. TMT as defined according to Nathan Heflick, a Ph. D. and Senior Lecturer of psychology at the University ofRead MoreTerror Management Analysis Of Psychological Functions Of Religion Essay889 Words   |  4 PagesResearch Review #1 For my research review, I selected Puppy-Monkey-Baby (PMB) Terror Management Analysis of Psychological Functions of Religion. This research article focuses on terror management theory, and more specifically how religion serves to manage the terror a human may experience when confronted with the thought of death (Vail, 2010). Although non-religious beliefs can serve as a form of terror management, spiritual beliefs are frequently used to alleviate anxiety caused by death becauseRead MoreShould Disgust Influence Our Considered Moral Judgments?1328 Words   |  6 Pagesguide our judgments of a range of activities and social practices. Many advocates claim that feelings of disgust are sufficient to justify an ethical assessment. Moral disgust advocate who follow deep wisdom theory see the emotion of disgust as a suprarational source of information. This theory interprets disgust as an emotion that is morally attuned and provides insight into the nature of disgust. Advocates argue that in this day in age everything is tolerable and because of this disgust may be theRead MoreThe Science Behind Sleep : The Physics Of Sleep Essay1675 Words   |  7 Pagessleep(Walcutt). It is very difficult to wake a person during this time. To get any good sleep, it is important to be in these two stages for a while. During these stages is usually â€Å"when some children experience bedwetting, sleepwalking, or night terrors†(Stages of Sleep). A person has no muscle activity or eye activity during this time. There are many myths about better ways of deep sleeping, but one myth in particular has just recently been proven wrong. That myth is that alcohol will aid in aRead MoreThe Importance Of Artificial Disasters1206 Words   |  5 Pagesregarding dealing effectively with the disasters that occur abruptly. When a disaster occurs, the priority is to reduce the vulnerability of people to hazards such as terror attacks and natural disasters. Therefore, to save human lives and also reduce property damage, in the long run, disaster analysis is a very important part in disaster management. In a given society, disasters can expose citizens to the benefits gained from cooperation in a rather dramatic way. Specifically, individuals can break awayRead MoreTerrorism Is Very Real For Mnes Essay1233 Words   |  5 Pagesboth theory and practice. The research question addressed by this exploratory study is how international businesses apply past terrorism exposure and experience from operating in risky locations to create organizational preparedness and performance resilience to absorb and endure future terrorist attacks. This paper contributes to the international business literature by addressing a gap in the literature how firms can prepare for and respond to terrorism. The study contributes to a theory of organizationalRead MoreTerrorism Is The Act Of Using Violence1493 Words   |  6 Pagesinterpret and analyse this phenomena in many different perspectives and theories. This essay will look at two particular sociological perspectives of terrorism; by Mathew Deflem a nd Gabe Mythen and Sandra, to critically analyse the content of their articles, their perspective on the understanding of terrorism, and the limitation in respect to their theories. Mathew Deflem uses his theory to explore how Bureaucratization theory can be utilized to create effective policing, subsequently producing successful

The Effects Of The European Settlement On The Indigenous...

Human rights are the rights of humans, regardless of nationality, gender, race, or religion. We should all have this in common as we are all part of humanity. However, Indigenous people did not always have these rights (Ag.gov.au, 2015). Aside from basic human rights, Indigenous people also have their own rights specific to their culture. Before 1967, Indigenous people had different rights in different states and the Australian federal government did not have any jurisdiction over Aboriginal affairs until Australia’s constitution was amended for this purpose in 1967 (Moadoph.gov.au, 2015). Between 1900 and the present time, there have been significant changes to the rights of Indigenous Australians. The effects of the European Settlement on the Indigenous people of Australia have been devastating. When white people began arriving in Australia, the Aboriginal people believed them to be ghosts of ancestor spirits. However, once they realised the settlers were invading their land , the Aborigines became, understandably, hostile (Slater Parish, 1999, pp.8-11). In 1788, the total Indigenous population was believed to be between 750,000 and one million. By 1888, the Indigenous population was reduced to around 80,000 Australia wide (Korff, 2014). The three main reasons for this dramatic decline were the introduction of new diseases, violent conflicts with the colonisers, and settlers acquiring Indigenous land (Digital, 2015). In 1848, the Board of National Education stated that itShow MoreRelatedEuropean Settlement in Australia Provide the Catalyst for the Near Destruction of Indigenous Society1457 Words   |  6 PagesEssay Topic: European settlement in Australia provided the catalyst for the near destruction of Indigenous society European settlement had a negative impact on the Indigenous Australians and it provided a catalyst for the destruction of Indigenous society. 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The work he does is challenging, both physically and emotionally, as he is forced into recapturing runaway Indigenous children. As a result of the hardships faced by Moodoo, he has become withdrawn, which is particularly concerning given his Indigenous culture is one based on social interactions. He alsoRead MoreBenefits Of Indigenous Australians And Healthcare Workers1066 Words   |  5 Pages Introduction: This report is designed to outline and explain the benefits to both indigenous Australians and healthcare workers (specifically Radiographers) of providing culturally competent care. In radiography, like all healthcare settings culturally competent care is essential for patient comfort and experience. To provide culturally competent care one must first understand the history of the Indigenous Australians health and factors that have had an influence on it. 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I might want to express my appreciation towards my chiefRead MoreEffect of Colonisation1693 Words   |  7 Pagesin wairuatanga (spiritual connection to the natural environment), kaitiakitanga, which is that people are linked to all living and non – living things and it is the responsibility of the mankind to safeguard the ecosystem. In addition, they believed in oneness (kotahitanga) and manaakitanga - the ability to care for others (Hikuroa, 2010). According to Durie (as cited in Dew Davis, 2006) Maori people were able to manage health by sound public health principles. They were able to preserve and storeRead MoreThe Dapl Operator Announced On Election Day That It Had1248 Words   |  5 Pages The US army corps of engineers has completed its review of the Dakota Access pipeline and is calling for â€Å"additional discussion and analysis† (energytransfer.com), further delaying completion of a project that has faced massive opposition from indigenous activists. It is unclear how long the delay will last and whether it will survive under the Trump administration. Trump’s financial disclosure forms show he has between $500,000 and $1m invested in Energy Transfer Partners, and $500,000 to $1m

Central Bank Policy Decisions Affect Banks in Profitability

Question: Critically Evaluate How the Central Bank Policy Decisions Affect Banks in Profitability. Answer: Introduction of Central Banks Central banks are those banks which control the total banking system of any country. Only central banks have the authority of issuing banknotes. The major function of a central bank is to control money supply in the country by handling the interest rates. Central banks act as The lender of the last resort to the banks in this sector when there is financial crisis in the economy and banks are unable to cope with the situation. The central banks are the bankers to the government. Central banks supervise the commercial banks as they have to follow the guidelines mentioned by the bank. The central banks focus on the monetary stability, which brings constancy in the flow of money in the nations economy. Changes in the attitude for the government roles lead the central banks to develop economy as a major basis (Archer, 2009). With this concern, the paper intends to evaluate the way in which central bank policy decisions affect profitability of banks. Evaluation of How Central Banks Policy Decisions Affect the Profitability of Other Banks One of the major policies of central bank affecting the profitability of other banks is monetary policy. To evaluate the effect of monetary policy, one should have a complete understanding about the banks profitability along with the interest rates (Lambert Ueda, 2014). The central bank directly purchases securities from the open market influencing long-term rates and guiding market players about short-term rates. The open market operations are mostly used by the Federal Reserve System of central bank in America (Board of Governors of The Federal Reserve System, 2017). In the process, buying and selling of securities such as mortgage-backed securities as well as treasury notes take place from the other commercial banks, which are used as the key tool to increase or decrease interest rates. For instance, if Fed buys a bond from any other bank, the amount of securities will reduce but the amount of reserves will increase. When Fed sells the securities, economic growth and inflation ge t slower as the interest rate rises while purchasing securities, revival in the economic growth occurs as well as unemployment rates lower down along with a fall in interest rates. Considering the profitability of commercial banks, purchasing of securities by Fed will provide maximum profitability to the commercial banks as its reserves will increase. Investment and loans will be increased with the rise in the price of government securities and their interest rates will fall. Additionally, the overall interest rates will decrease and will provide motivation for new investments in the business (Saylor Academy, 2016). The yield rate and the interest level rates affect the profitability of the banks. In retail deposits endowment effect, the bank deposits are normally priced at a markdown value on market rates along with depicting a market dominated by a small number of sellers. As soon as the interest rate falls, the markdown value in the market falls. This will lead to increase in the net interest income by restricting the monetary policy. Thus, the net interest income of banks is affected due to the monetary policy where the slope of the yield curve remains conclave and leads to banks profitability. If the market rate rises, there will be a negative effect on quantity affecting the amount of bank deposits as well as loans. For instance, people prefer bank loans when the lending rates are lower along with increasing the net interest income temporarily. Correspondingly, if the lending rates rise in the future, it will hinder the profitability of the banks. The monetary policy also affects the non-i nterest incomes of the commercial banks. Keeping all other factors constant, if the bank interest rates get higher, the securities portfolios of banks will incur losses. When the securities will be available for sale in the present financial situation, the losses will be presented in the income statement and it will be applicable for equity. The impact of these losses can be observed during the realization of securities held at maturity. This effect is a temporary and will disappear as the effect of change of interest rates gets over. Hence, the process is affecting other banks profitability during its course (Borio, Gambacorta Hofmann, 2015). According to Bank of Israel (2014), hedging of interest rate risk is very essential for banks. Hedging is normally done by swapping interest rates to reduce the substantial losses or gains of the banks leading to non-interest income. Other than this, fees and commissions earned are also a part of non- interest incomes which come from deposit and lending activities as well as investment-banking-type activities. The activities may include trading, credit lines, mergers and acquisitions, and transaction services among others. Thus, non-interest incomes lead to losses for the banks affect their profitability. Lastly, loan loss provisions cover the loss from loans due to customer defaults or bad loans. During a financial crisis, low interest rates are witnessed. The condition of loans loss provisions are sensitively very high at interest rates which are low. The banks cannot bear any further losses. As the interest rate is extremely low, people will be encouraged to take more loans from the banks encouraging loan growth. This will lower down the ratio of loan loss provisions to the amount of loans increasing more amounts of unrecoverable loans from customers leading to loss of banks and affecting their profitability at large (Borio, Gambacorta Hofmann, 2015). Apart from the above, the rate at which central banks apply or signal the position of monetary policy, is known as Central Bank Policy Rate (CBPR). This rate varies and is considered as discount rates as well as repurchase agreement rate in different countries (IMF Data, n.d.). The CBPR varies for each policy interest rate based on alterations in discount rates and repurchase agreement. For instance, the different policy rates of the central banks around the world in the last 4 quarters are shown below: Figure 1: Central Bank Policy Rate Source: (IMF Data, 2017) Conclusion Based on the above discussion, it can be observed that central banks policies are linked to banks profitability. These policies directly or indirectly influence banks profitability by different analysis of financial system. According to The Central Bank of The Bahamas (2017), monetary policy is different from fiscal policy. Fiscal policy is the step taken by government not by central banks to influence a nations economy while, monetary policy is set by central banks. Fiscal policy is related to tax revenue and expenditure for the government and focuses essentially on economic growth, unlike economic stability by monetary policy. Fiscal policy is changed on a yearly basis while monetary policy is changed depending on the nations status in the economy (Borio, Gambacorta Hofmann, 2015). The increases in the rate of central banks lead to the rise in the commercial banks lending rates which discourage to borrow accordingly. This leads to decline in the profitability of the banks as custo mers will be looking for other sources of financing such as non-banking financial institutions (Mungai, 2013). Thus, for better profitability of the commercial banks, central banks must work upon to design appropriate bank-specific monetary policy that will cover the macroeconomic conditions and will help in funding currencies (Borio, Gambacorta Hofmann, 2015). The monetary policy is hence made to stabilize the output and control inflation which brings changes in the policy interest rates of the central banks in different nations. Hence, the changes of policy interest rates in central banks, will in turn develop into affecting the probability of all other commercial banks in the world (Mathai, 2012). Therefore, the contribution of central banks is immense for the growth of any bank globally. References Archer, D 2009. Roles and objectives of modern central banks. Issues in the Governance of Central Banks, pp.17-55. Bank of Israel, 2014, Management of Interest Rate Risk, Proper Conduct of Banking Business Directive [1] (5/13) Management of Interest Rate Risk, pp.333-1-333-41. Borio, C, Gambacorta, L Hofmann, B 2015, Bank for International Settlements, The Influence Of Monetary Policy On Bank Profitability, no. 514, pp.5-37. Lambert, F Ueda, K 2014, The effects of unconventional monetary policies on bank soundness, International Monetary Fund, Washington, D.C. Mungai, M A, 2013, The role of central bank rate on commercial banks profitability in Kenya, School of Business, University of Nairobi, pp.1-65. Saylor Academy, 2016, Chapter 14. The Money Supply Process The Central Bank, viewed 15 May 2017, https://www.saylor.org/site/wp-content/uploads/2011/07/ECON302-4.2.pdf . The Central Bank of The Bahamas, 2017, what is monetary policy and how is it different from fiscal policy? The Central Bank, viewed 21 April 2017, https://www.centralbankbahamas.com/faqs.php?cat=18id=10145. IMF Data, No Date, What is the Central Bank policy rate? International monetary fund, viewed 22 May 2017, https://datahelp.imf.org/knowledgebase/articles/484375-what-is-the-central-bank-policy-rate. IMF Data, 2017, Interest rates and share prices, Access to macroeconomic financial data, viewed 22 May 2017, https://data.imf.org/?sk=5477ad05-460d-4c91-9690-11e99b1ed935sId=1390030109571. Board of Governors of The Federal Reserve System, 2017, Open market operations, Credit and Liquidity Programs and the Balance Sheet, viewed 22 May 2017, https://www.federalreserve.gov/monetarypolicy/bst_openmarketops.htm. Mathai, K 2012, Monetary Policy: Stabilizing Prices and Output, International monetary fund, viewed 22 May 2017, https://www.imf.org/external/pubs/ft/fandd/basics/monpol.htm.