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Naira down almost 4 percent this year as oil prices fall. Due to a recent fail of major Nigerian banks lending of US dollar his high. The Central bank is trying to ease the pressure on the Naira but putting tighter regulations in place when it comes to borrowing foreign funds. This may be an attempt to reduce demand for dollar and decrease supply of Naira.

This article is a very good example of how the idea of scarcity exists within Chinese banks.

This article talks about how economic growth on its own is not sufficient enough to battle extreme poverty. The world bank stresses that we need to reduce poverty, at a rate of 50 million a year until 2030. As we know fiscal policies can be used to stimulate growth but this is not the only use. We can also use them to redistribute income, which is necessary in this case. Further more monetary policy is not good enough in tackling these issues directly. Dedicated government spending and tax cuts on the poor are far better fiscal policies to deal with the issue.

Pay increase and a fall in unemployment a boost for the Bank of England

New Zealand is "vulnerable" to a fall in house prices, which could be triggered by an overseas financial shock, Reserve Bank deputy governor Grant Spencer says. "If the growth in demand continues to exceed the growth in housing supply, house prices will become increasingly vulnerable to a sharp correction, which could be prompted by, say, a global financial shock," Spencer said.

Indonesia's economy is reporting the slowest growth rate in 4 years. While in the previous years the GDP increased by over 6 % this year the economy only grew by 5.78 percent. Apparently are declines in the import of raw materials and machinery, and the Indonesian central bank raised its benchmark 5 times to account for their current deficit of 10 billion.

The Minister of Education, Mr. David Laws, wants to reduce the national expenditure on school uniform. He believes that the inflated price of school uniform up to 52 million pounds per year is excessive. The schools in the UK have to reduce the opportunity cost of demanding overly priced uniform. This practice must be stopped. In implementing this policy, British families would be able to save 52 million pounds in one year, which is a sizeable proportion of many poor families budgets. In many lower income families in this period of recession, families who are depending on food banks will benefit from this opportunity cost of spending on uniform as they have a scarce budget. This will help them to shift their household expenditures to more essential items such as food. The opportunity cost of them budgeting a significant percentage of their limited income to an inelastic demand for uniforms may create problems of great scarcity to families with many school-going children. The guideline by the minister stated that the uniform must be purchase from the cheaper suppliers, which will reduce the opportunity costs. This will mean savings for the parents. The question is how do these new policies going to be effectively worked out because some rich parents with no scarcity problems will insist or prefer their children to wear higher quality and more expensive uniforms, some even tailoring them.

Thatcher-era supply-side policy had been used in UK for a number of decades. Mark Carney, the new governor of the Bank of England wants to reduce unemployment through the monetary policy goal rather than the supply-side policy. He is making efforts to change the emphasis on the supply-side policy, which has always aimed to reduce employment and to control inflation by implementing the increase in investments and the introduction of taxes towards the rich. Carney wants to shift the conditions of the markets towards driving up more investors and creating financial stability through the interest rate policy. This may be the solution to UK's economic problems, which had been lasting for a number of years since 2008 and the Euro crisis.

Foreign currency markets have always been a popular trading ground. However, towards the end of summer the picture looked oblique since volatility in exchange rates (rate of fluctuation in price) has been dropping, something that means less profits for traders. New regulations and restrictions as well as additional attention on the currency markets by regulators seems to be one of the causes for this. More over, low interest rates due to the recent crisis mean that currencies are not experiencing much change and have essentially flat lined. Most floating exchange rates appear to me fixed. This means lost revenue to banks and traders dealing in these markets.