Monday, December 30, 2019
Running head: BENEFITS OF MANAGEMENT BY OBJECTIVES Benefits of Management by Objectives (MBO) Nicole I. Claro Grantham University Abstract In this research paper, I will explain Management by Objectives (MBO) as it has been developed and adapted throughout the years, but based on the works and theories of Peter Drucker, the inventor of MBO. I will also discuss in some depth, 5 benefits that come from implementing MBO within an organization. The MBO process has 4 major activities that must occur in order to be successfully achieved within an organization. These activities are to 1st set goals, 2nd develop an action plan, 3rd review progress and 4th appraise overall performance. The paper will explain whyÃ¢â¬ ¦show more contentÃ¢â¬ ¦Once organizational goals are in place it is up to management to make sure each employee has set their own personal goals and this is where S.M.A.R.T comes into play. S.M.A.R.T is a method used to help individuals know how to set their own objectives. S.M.A.R.T stands for: specific, measurable, achievable, realistic, and time based. The following is a breakdown of S.M.A.R.T provided in by Bogue (2005). The S is for Specific: In order for the objectives to be effective, they should be specific and should describe the result that is desired. As an example an employee wants to decrease the length of time spent on the telephone for customer sales, because time equals money in most situations, a decreased call time per call would allow for more customers to be served. The goal should specify reduce call time by Ã¢â¬Å"XÃ¢â¬ number of minutes, maintaining quality and satisfaction of the customer call. The M is for Measurable: The goals have to be measurable; this means through the process of the review step, the manager has to be able tell whether or not the objective was met. The A is for Achievable: When setting objectives, managers have to make sure that the employees are setting achievable goals. Using the example above of reduci ng call time; let us say that the employee specified that they wanted to reduce the call time to one minute; realistically it is not an achievableShow MoreRelatedManagement Analysis : Management Process906 Words Ã |Ã 4 Pages Management by Objectives, MBO, is a management process where managers and employees decide together what goals the employee should work to achieve. The goals set for the employee are agreed upon by both the employee and the manager. The employee is evaluated based on these goals and may be given a raise or a promotion if they have achieved the set goals within some set period of time. This management process was first introduced by Peter Drucker in his 1954 book Ã¢â¬Å"The Practice of ManagementÃ¢â¬ withRead MoreChapter 5 Foundations Of Management850 Words Ã |Ã 4 PagesFoundations of Management Read the following case and answer the questions that follow, APPLICATION OF MBO Kay was excited. She had just returned from a mangerÃ¢â¬â¢s retreat where MBO had been discussed. This had never been used in her organization, and she was enthusiastic about implementing the program in her department. She received the OK from her manager, the division head, who remembered studying MBO programs in a workshop. Kay reviewed the handout she had received at the retreat. She was still aRead MorePerformance Management At The Retail Store1519 Words Ã |Ã 7 Pagesbehaviors the company must embrace the Management by Objectives (MBO) approach. This is because this approach can benefit the company in three ways. Firstly, it can improve the planning procedures of the company because Ã¢â¬Å"MBO involves participative decision-making which makes objectives explicit and plans more realisticÃ¢â¬ (Kuldeep, n.d.). Secondly, the MBO approach can benefit the company a lot in respect of coordination policies because Ã¢â¬Å"MBO helps in clarify the structure and goals of the org anizationRead MoreManagement and Eastern Hemisphere967 Words Ã |Ã 4 PagesOthers were of the old authoritarian school.; the managers here didnÃ¢â¬â¢t seem to be growing or developing; there were some problems with the existing management assessment and development system and it needed to be changed. Managers still were using a MBO-type system that had been replaced in the U.S. some time ago. Lancaster believed strongly in ADP and had seen it change the management and culture of Black Decker in the U.S. He also knew that 360Ã£â¬âFeedback might not be universally embraced becauseRead MoreManagement Performance Evaluation Of Employees963 Words Ã |Ã 4 Pagesto complications for the organization. Proper training can help make the appraisals are being accurately used, and the ratings and results from the appraisals are fair and useful to the organization. Using performance appraisals can lead to great benefits for an organization, if the appraisals are accurately and properly conducted. Performance appraisals can help improve employee performance at an organization. The ability for an employee to learn open, honest feedback about how they are performingRead MoreManagement And Management Challenges For 21st Century Essay1515 Words Ã |Ã 7 Pagesapproach as well as examine a few examples of companies using the approach. 1 What is Management by Objectives about? Management by Objectives (MBO) as a concept first appeared in a 1954 book The Practice of Management. The author, Peter Drucker, has since become known as one of the worldÃ¢â¬â¢s most influential business experts. Aside from developing the ideas around MBO, Drucker has revolutionised the corporate world with his views and theories on essential things such as leadership. His other famous booksRead MoreMotivation Essay1262 Words Ã |Ã 6 PagesPractices at the Workplace Management by Objective (MBO) MBO is linked to goal-setting theory. Peter Drucker proposed this concept. Broadly speaking, MBO is a process of agreeing upon objectives within an organization. MBO is often accomplished by using set targets. Objectives should be SMART i.e. Specific, Measurable, Achievable, Realistic and Time-specific. Reliance Industries Limited in India has successfully implemented MBO programme. Any MBO initiative must be implemented along side suitableRead MoreEssay on Strategic HR Practices of the Organization940 Words Ã |Ã 4 Pagesequal treatment with all the employees and equal distribution of wages and powers between all the employees (Fisher, Schoenfeldt Shaw, 2004). Anti discrimination legislation helps in attracting and retaining talented employees. Equal pay and other benefits are given for equal work. It is necessary to satisfy the employees if the company wants to gain success and develop its competencies. According to these policies, there is no discrimination on the basis of colo r, sex, caste, race, marital statusRead MoreOrganizational Behavior and Leadership Essay1204 Words Ã |Ã 5 Pagescriteria are necessary to get a well-rounded view of an employeeÃ¢â¬â¢s performance that includes both measurable performance and the subjective relationship criteria. Including managers, peers, and customers in the evaluation process produces some positive benefits. It produces a better rounded portrait of the employee under evaluation. The 360 degree evaluation is self-leveling by its design, reducing the evaluatorÃ¢â¬â¢s bias. The 360 evaluation is important because employees may behave differently to differentRead MoreOperational Reorganization1661 Words Ã |Ã 7 Pageschanges and set objectives, and a structured communication plan to reduce change resistance and insure that our message is being understood. Step 1 Ãâ" Analysis of Organizational Objectives (Week 1) The implementation of a Management by Objectives (MBO) program is an effective solution to make goal setting operational. (Robbins 206) Specific and measurable objectives must be set at the organizational level and then flowed to divisions, departments and individuals. The required budget cuts have
Sunday, December 22, 2019
Common Core State Standards CCSS.ELA-LITERACY.W.1.3 Write narratives in which they recount two or more appropriately sequenced events, include some details regarding what happened, use temporal words to signal event order, and provide some sense of closure. CCSS.MATH.CONTENT.1.G.A.1 Distinguish between defining attributes (e.g., triangles are closed and three-sided) versus non-defining attributes (e.g., color, orientation, overall size); build and draw shapes to possess defining attributes Students will illustrate a picture to match their stories. Illustrations will incorporate accurate geometry shapes and meet the Ã¢â¬Å"good,Ã¢â¬ criteria on the assessment rubric. Students will write a narrative story to accompany their illustrations toÃ¢â¬ ¦show more contentÃ¢â¬ ¦Students will be graded according to the assessment rubric. What is being assessed: Ã¢â¬ ¢ Students apply their knowledge of geometry to use shapes in unique/creative ways in their Halloween designs. Ã¢â¬ ¢ Students use their knowledge of narrative story parts to write a coherent story that relates to what we learned about the history of Halloween. Assessment accommodations: Ã¢â¬ ¢ 4th grade students will be provided with shapes that they can trace on their illustrations. Ã¢â¬ ¢ 4th grade students will be provided with pictures they can use to create their storyboards. Ã¢â¬ ¢ 4th grade students and Brandon will be provided with a shape reference sheet Ã¢â¬ ¢ 4th grade students and Brandon will be provided with a scribe Type of feedback that will be given to students: 1. During the writing process, teachers will monitor studentsÃ¢â¬â¢ progress and offer assistance 2. Once students are finished writing, teacher will check for proper writing mechanics. 3. As students are drawing their designs, they will receive oral feedback from adults in the room. 4. At the end of the activity, peers will be asked to share what they like about each story and/or illustration. Evaluation Criteria of Assessment (Entire Class) Awesome! Good Needs Work Writing Students write unique stories that include two or more things they learned from the Ã¢â¬Å"History of HalloweenÃ¢â¬ lesson. Students storiesShow MoreRelatedEssay on The Common Core State Standards1431 Words Ã |Ã 6 PagesThe Common Core State Standards (CCSS) are being deceitfully sold to the general public as a state-led initiative to reform the current curriculum taught in our public schools. In the standards there are very specific objectives that need to be met by the end of each school year for all grades Kindergarten through twelfth grade. So far the only subjects that have seen any change are mathematics, reading, writing, and literature. The standards are advertised as school, teacher, and administrationRead MoreCommon Core State Standards Essay633 Words Ã |Ã 3 PagesCommon Core State Standards The National Governors Association Center for Best Practices made up a set of educational standards called the Common Core State Standards in Suwanee, GA which dealt with math and english-language arts for grades k-12. They were Ã¢â¬Å"developed in collaboration with a variety of stakeholders including content experts, states, teachers, school administrators and parents. The standards establish clear and consistent goals for learning that will prepare AmericaÃ¢â¬â¢s children forRead MoreCommon Core State Standards Essay1246 Words Ã |Ã 5 Pages45 states that have adopted the same educational standards called Common Core State Standards (CCSS). The initiative is sponsored by the National Governors Association and the Council of Chief State School Officers and seeks to establish consistent education standards across the states. The Common Core Standards is initiative state-led effort that established a single set of clear educational standards for kindergarten through 12th grade i n English and Mathematical standards. These standards helpRead MoreCommon Core State Standards Essay1085 Words Ã |Ã 5 PagesThe Common Core State Standards (CCSS) identify expectations of what the students will be able to achieve by the end of the school year. The standards provide teachers and curriculum developers the opportunity to use their best findings and available tools to meet these ends (California Department of Education, 2013). The reader needs to understand that the teaching principles implemented by individuals who received extensiveÃ training in college-based teacher training programs in order to understandRead MoreEssay Common Core State Standards919 Words Ã |Ã 4 Pagesdifferent assessments with subjects like science, math, and language arts. However, within the past year many schools in the United States of America have switched their state standards to a new standard known as common core. Common core is now a nationwide standardized test with subjects like reading, writing, and math. Some standards that are evident in the common core are, Ã¢â¬Å"research and evidence based, clear, understandable, and consistent, aligned with college and career expectations, based on rigorousRead More The Common Core State Standards Essay2312 Words Ã |Ã 10 Pagesdid not already know? Contrary to my expectation, the first day of class, I learned things about math that had never been brought to my attention. This paper will discuss what I have learned about subtraction, about students, about the Common Core State Standards, and how my concept map has changed since my first draft. Cardinality and Subitizing Cardinality and subitizing are not topics encountered in everyday life, unless you happen to be a math education specialist. Both were words I had notRead MoreEssay on Common Core State Standards and Its Impact on Curriculum 1641 Words Ã |Ã 7 PagesCommon Core State Standards and Its Impact on Curriculum Introduction Common Core State Standards (CCSS) is a voluntary state led initiative that looks to establish clear expectations for learning in grades kindergarten through twelfth that are standard from state to state. The purpose of the standards is to make certain that there is uniformity in student proficiency and high school graduates have the know-how and ability needed for college and a competitive workforce in the twenty-first centuryRead MoreThe Problems With Common Core State Standards (CCSS) Essay1690 Words Ã |Ã 7 Pagessupport common core state standards (CCSS), they have not received or researched the history of how CCSS introduced itself. Furthermore, they do not understand that local control is being taken away, which results in the eventual destruction of excellent, local schools, students, and future generations. Two private trade organizations located in Washington, D.C, wrote the CCSS at the request of Achieve, a company created by Bill and Melinda Gates. Thus, CCSS did not arise from the state level butRead MoreCommon Core Standards : A Standard Or A Type Of Curriculum?1713 Words Ã |Ã 7 PagesWhat is Common Core? Is it a standard or a type of Curriculum? According to CoreStandards.org, common core is a set of high-quality academic standards in mathematics and English language arts/literacy (ELA). These learning goals outline what a student should know and be able to do at the end of each grade. The standards were created to ensure that all students graduate from high school with the skills and knowledge necessary to succeed in college, career, and life, regardless of where they liveRead MoreAndy Thomson: A Political Leader with Courage814 Words Ã |Ã 3 PagesMy essay about a political leader who had courage is about Andy Thompson. I met Representative Thompson his first year running for State Representative and have helped with his campaigns since then. He served three terms on MariettaÃ¢â¬â¢s city council. He is now currently serving his second term in the Ohio House of Representatives. Representative Thompson serves the 95th district in Ohio, which includes Noble, Harrison, and Carroll counties, as well as parts of Washington and Belmont counties. He
Saturday, December 14, 2019
Critically evaluate the claim that flashbulbÃ¢â¬â¢ memories are qualitatively different to other memories Memory In psychology is the physical series of events within the brain that encode, store and retrieve information within the human body. When information is encoded within our memory it reaches our primary five senses and is converted into chemical and physical stimuli. This stimuli is stored in the next stage of the memory process where information if retained for potentially decades of time within us. We will write a custom essay sample on Flash bulb memory or any similar topic only for you Order Now We can retrieve this information by locating it within our subconscious. This can be effortless or difficult but this is based around the type of memory concerned. Memory itself can be broken down into three areas as shown by this image (The Human Memory 2013) Long-term memory is the area of concern as this is where the topic of Flashbulb memory and the memories that it can be qualitatively analysed with are found. Long term memory is exactly what you would expect it to be and that is the storage of information within the brain over vast periods of time which is a seemingly never ending storage system. Information decays over time as people grow old but it is in ome debate whether humans ever really forget information or it simply becomes too strenuous on the brain to recall the information in question. (The Human Memory 2013) Flashbulb memory is the main topic and is within the category of long-term memory and in its most simple form it is the memories a person forms when they witness a shocking or very significant event within the world. An example of a Ã¢â¬Ësignificant eventÃ¢â¬â¢ in the world may be the assassination of a world leader or the day you won the lottery for instance as an example of what both a shocking and a significant event may be for someone in the world. An individual after having witnessed or experienced a life altering event may experience the effects of flash bulb memory and astonishingly be able to remember an event at a very high level of detail at the moment the event took place. For example an individual may have the ability to recall where they were at the time and who they were with, perhaps what they were wearing or what emotions they were feeling throughout the event when it took place. A quick example of an event that many said to have retained a precise and accurate account of in the United States what the assassination of President John F. Kennedy even decades after it has taken place.  It is the first type of memory that showed the potential interaction between emotion and the cognitive process of memory itself and how they can actually be linked together. However it is still being debated whether the flash bulb memory is simply a unique or special type of memory or is it the same and Just as unreliable as other types of memory. Brown ; Kulik created and experiment in 1977 from which they became the first ambassadors of notion that that flash bulb memory was triggered by important events in an individualÃ¢â¬â¢s life. It was the first type of memory that showed the potential interaction between emotion and the cognitive process of memory itself and how they can actually be linked together. Brown and Kulik describe flash bulb memory as the remembrance ot extremely detailed and vivid memories which are significant to the individual concerned. They also are memories that are extremely resistant to being forgotten over large quantities of time. In the Study Brown Kulik originally carried out in 1977 the way in which many viewed how they saw light bulb memory and in essence redefined it. The aim of this study was to find out if dramatic or ndividually momentous events would cause these so called flash bulb memoriesÃ¢â¬â¢. They initially asked forty white and black American citizens if they could remember vivid imagery when they heard that a major event in the past had happened in a questionnaire format. Examples given were the assassination of John F. Kennedy or the death of Princess Diana as well as others. They then tested their initial prediction (that these influential events would have caused and now cause recollection of light bulb memory) against non-consequential more monotonous events in a personÃ¢â¬â¢s life. Overall it was found that flash bulb memory was more likely to be remembered of a shocking, disturbing or momentous event in a personÃ¢â¬â¢s life. Issues personally relevant were also likely to be remembered with flash bulb memory. (1B Psychology (Diana) 2011) It is believed by many that a flash bulb memory can be more accurate and longer lasting than alternative memory types such as Brown ; Kulik who believed flash bulb memories were long term aspects of a personÃ¢â¬â¢s inherent memory in which they could remember specific instances and aspects they otherwise could not, while hey did believe these memories were not always accessible by the person as they deteriorate with age. They also believed that an event remembered with flashbulb memory would depend heavily on different factors. The proximity firstly between the person impacted and the event itself would affect the memory as the closer a person was to an event the more involved and immersed they would become in the scenario. The emotion the individual felt when the scenario played out is another key factor as this emotion may be so strong it triggers a light bulb memory. The distinctiveness of he scenario is very important. Was it common place and very much familiar and the person feels like they can simply discard the event or is it so unfamiliar it is almost disturbing or creates a burning curiosity and amazement which consequently leads to a flash bulb memory. So from this information Brown Kulik clearly feel that flash bulb memories are unique themselves and have special properties which set them apart from ordinary types of memory. (Wikipedia flash bulb memory 2013) Counter arguments created by Michael McCloskey were made in which he and his fellow olleagues analysed Brown Kuliks hypothesis and results to form their own findings on the subject of flash bulb memory. Their aim was to find out whether there was really a difference between ordinary trivial memories and distinctive Ã¢â¬ËimportantÃ¢â¬â¢ ones and whether there really is a special mechanism used for a personÃ¢â¬â¢s flash bulb memory. The notion that flash bulb memories are simply memories of important events in an individualÃ¢â¬â¢s life that are completely viable and explicable in terms of the ordinary memory and do not show the existence of a new specific and special mechanism. Michael McCloskey also writes that an event may be seen by the person as more distinctive, influential and consequentially memorable but there is not a way a Ã¢â¬Ëqualitative distinctionÃ¢â¬â¢ can potentially be shown between memories for learning about these shocking and important instances and memories for simply learning about monotonous trivial scenarios. How to cite Flash bulb memory, Papers
Friday, December 6, 2019
Question: Discuss about theMacroeconomic for Gross Domestic Product of UAE. Answer: UAE Economy Overview: The economy of UAE is considered as the second largest in the Arab World having GDP of $570 billion. UAE has been able to diversify its economy however; it remains to be heavily depended upon oil. It is worth mentioning that petroleum and natural gas continues to be the highest contributor in the economy. More than, 85% of the UAE economy is highly depended upon exportation of oil and overseas sales forms 77% of the UAE state budget (Banerjee Majumdar, 2014). Comparison of UAE GDP from 2006-15: The Gross Domestic Product (GDP) of UAE increased by 3.45% in the year 2015, which is higher than the previous year. In addition to this, the annual GDP growth rate aggregated around 4.69 per cent from 2006 until 2015 (Tradingeconomics.com 2016). The GDP annual growth rate of UAE reached an all time high of 9.80 per cent during 2006 but also recorded a low of -5.20 per cent during 2009. Figure 1: United Arab Emirates GDP Annual Growth Rate (Source Tradingeconomics.com 2016) Service sector forms the largest sector of United Arab Emirates economy with 40 per cent of GDP. Wholesale, retail trade and repairs (12 percent GDP), transport and communication, warehousing (8 percent of GDP), real estate and business services (9 percent of GDP) forms the vital segment. Construction and electricity along with water and gas forms 13 per cent of the output whereas manufacturing contributes 8% of the GDP. Agriculture, cattle ranching and fishing contributes 1 per cent of the remaining GDP (Tradingeconomics.com 2016). UAE continues to ramp up oil production in October and attaining a new height of 2085 million barrels per day (mbph). Abu Dhabi supreme petroleum council approved the national oil corporation with a five-year plan, which advised a further increase in production of 3.5 mbph by combining with economic reforms to boost the degree of efficiency. Analysis of Oil Price Impact on Economy: During the month of April, the purchase index represented a drop of two points for UAE from 54 points in the month of March to 52.8. Anything above the metric reading of 50 represents economic growth however, the expansion was in the areas of manufacturing and service sector but the oil industry was slowing (Al-Shayeb et al., 2016). The emirates production accounts for 3 million b/d of crude oil however, the government revenues is experiencing a continuous fall. The revenues from crude oil accounted for 41% of the GDP during the year 2013, which declined, to 29% of the GDP in the year 2015. It should be also noted that in the environment of low oil price the government spending has been raising from 30 percent of GDP during 2013 to 34 per cent of GDP in the year 2015. As a result, surplus of 10.4% of GDP during 2013 it has turned into the fiscal deficit of estimated 5.2% of the GDP during the year 2016. It is noteworthy to denote that high real GDP growth rate of more than 6 per cent in the last decade has started to decline because of lower oil revenues. A closely watched indicator of Dubai economic health highlighted the first economic contraction of its private sector ever since the recession of 2009, which defined the increasing, effect of low oil prices and global economic jitters in UAE (Elbadawi, Selim, 2016). The primary reason for the decline in the oil price is due to the uncertain international economic expansion, instability in the monetary markets and low oil prices have weigh on sentiments and activity. On the other hand, the tourism and retail trade has been strongly impacted by a strong growth in US dollars as reported in the index tracker, which slipped to 48.9. Identification of Fiscal Policy: The government of UAE implements an active expansionary monetary policy, which is directed towards the growth of the economy and generating, desired economic objectives under stable price. This expansionary fiscal policy also includes reducing employment with sustained economic growth as UAE is aiming to sell large number of bonds so that it can finance various economic strategies. With more amount of money in hand, UAE will move forward with the plan of increasing real GDP with increased government spending on things such as infrastructure and investment in the aviation market (Arrow Kruz, 2013). The strategy aligns with government fiscal policy so that it can attain the economic goals. It should be noted that goals remains the same with more severe and potentially more disastrous implications. Explanation of the Selected Fiscal Policy: The central undertakes an open market operations and purchases securities in an open market. Hence, purchase and sell of securities from public or mainly from the commercial bank may lead to increase in bank reserves or the quantity of money available in the public (Hansen, 2013). With higher amount of reserves, commercial bank can issue large volume of credit amongst the businessperson and investors for undertaking additional investment. Large number of private companys investment will lead the average demand curve to shift upward. Hence, purchase and sell of securities will lead to expansionary effect. Provincially, the central bank may reduce the rate of bank interest or the rate of interest charged by bank on the amount of loan given to commercial bank. With lower amount of bank rate, the commercial bank might be encouraged to have a loan from the central bank and will have the ability to issue more credit at reduced rate of interest to businessperson and investors. This will not lead to cheaper borrowing but may also expand the accessibility of credit or supply of money in the economy (Arrow Kruz, 2013). Thus, expansion of credit or supply of money will ultimately increase the demand for investment, ultimately leading to increase the aggregate output and income. Lastly, the central may also cut down the cash reserve ratio, which should be maintained by the commercial banks. In UAE, this is an efficient method of credit expansion with increased availability of money in the economy by the central bank (Fats Mihov, 2013). It is noteworthy to denote that lower requirements of reserves and huge sum of funds are released to offer loans to businessperson and shareholders. Consequently, credit expansion and investment grows in economy leading to expansionary effect on both output and employment. Explanation of the Selected Fiscal Policy in UAE: Implications: Economic growth: UAE emphasis on buying and selling of bonds as the government believes that acquiring the cash and issuing bonds to the buyers at a certain rate can turnaround the situation by investing the cash into the channel in which it sees fit. Whether it is an infrastructure or aviation the government looks to payback the debt as soon as the investment becomes profitable. The plan faces several contingencies and hindrances on the capability of the UAE government to take complete advantage of putting back the money to work in an efficient way. The results may undoubtedly lead to higher GDP with large amount of active hands on monetary policy (Blanchard Leigh, 2013). Whereas, a hands off monetary policy would require no amounts of debt be issued rather than having sufficient cash to invest before moving forward on any project regardless of the profit deemed available for investment. Low unemployment: Under a hands-off market economy, implementing fiscal policy to attain the desired result of changing the supply of money by dispersing large number of issued government bonds to derive higher output of GDP is poor money management move. In contrary to the idea, even if the government goal of increasing the households overall income the risk of mortgaging could lead to uncertain consequences that are far-reaching and generational. An endless amount of wealth is generated from oil supplies and using hands on theory UAE will able to sell government issued bonds by using cash to build roads and airports (DeLong Summers, 2012). Hence, putting its citizen to work would effectively help in keeping up the unemployment rate at low level and resulting in high GDP. Stable prices: It is a well-known fact that increasing the supply of money ultimately increases the overall price both in short run and in long run. It is unwise to think that monetary policy is lone contributor of inflation as there are several other factors that must be considered but none seems to have direct impact on monetary policy (Rapetti, 2013). The short-term gains from Hands-on-monetary policy would however help in reducing the inflation rate and bringing back price on stable rate. Conclusion: To conclude with the economy of UAE is projected to remain attractive amid the situation of recovering oil prices and growth in the activities of public and private sector enterprises. It is anticipated that the GDP of UAE is subjected to grow by 4 to 5 per cent in the coming years. The current economic assumptions is based on the UAEs existing market of oil exports which revolves around aggregate oil price of $37 in 2016 and is anticipated to be $50 by the end of 2017. The economic forecast is primarily depended upon UAE government response towards economic challenges associated with de-regularisation of fuel prices along with diversification of non-oil sectors. Reference List: Afonso, A., Sousa, R. M. (2012). The macroeconomic effects of fiscal policy.Applied Economics,44(34), 4439-4454. Al-Shayeb, A., Al-Shayeb, A., Hatemi-J, A., Hatemi-J, A. (2016). Trade openness and economic development in the UAE: an asymmetric approach.Journal of Economic Studies,43(4), 587-597. Arrow, K. J., Kruz, M. (2013).Public investment, the rate of return, and optimal fiscal policy(Vol. 1). Routledge. Arrow, K. J., Kruz, M. (2013).Public investment, the rate of return, and optimal fiscal policy(Vol. 1). Routledge. Auerbach, A.J. Gorodnichenko, Y., (2012). Measuring the output responses to fiscal policy.American Economic Journal: Economic Policy,4(2), pp.1-27. Banerjee, R., Majumdar, S. (2014, September). Profitability Determinants of Commercial Banks in UAE-A Sure Model Approach. InThird Asian Business Research Conference(p. 74). Blanchard, O. J., Leigh, D. (2013). Growth forecast errors and fiscal multipliers.The American Economic Review,103(3), 117-120. Blanchard, O., Dell'Ariccia, G., Mauro, P. (2013). Rethinking macroeconomic policy: Getting granular. DeLong, J. B., Summers, L. H. (2012). Fiscal policy in a depressed economy.Brookings Papers on Economic Activity,2012(1), 233-297. Elbadawi, I., Selim, H. (2016).Understanding and Avoiding the Oil Curse in Resource-rich Arab Economies. Cambridge University Press. Fats, A., Mihov, I. (2013). Policy volatility, institutions, and economic growth.Review of Economics and Statistics,95(2), 362-376. Flamos, A., Roupas, C. V., Psarras, J. (2013). GCC economies diversification: still a myth?.Energy Sources, Part B: Economics, Planning, and Policy,8(4), 360-368. Hansen, A.H., (2013).Fiscal policy business cycles. Routledge. Rapetti, M. (2013). Macroeconomic policy coordination in a competitive real exchange rate strategy for development.Journal of Globalization and Development,3(2), 1-31. Sarant, L. (2016). The Middle East: An end to oil dependency.Nature,537(7618), S6-S7. Sherif, S. (2013). Intra-Regional Trade, Evidence from the UAE: A Gravity Model Approach.International Journal of Economic Perspectives,7(3), 57-65. United Arab Emirates GDP Annual Growth Rate | 2000-2016 | Data | Chart. (2016).Tradingeconomics.com. Retrieved 6 December 2016, from https://www.tradingeconomics.com/united-arab-emirates/gdp-growth-annual United Arab Emirates GDP Growth Rate | 2000-2016 | Data | Chart | Calendar. (2016).Tradingeconomics.com. Retrieved 6 December 2016, from https://www.tradingeconomics.com/united-arab-emirates/gdp-growth Weale, M., Blake, A., Christodoulakis, N., Meade, J. E., Vines, D. (2015).Macroeconomic Policy: inflation, wealth and the exchange rate(Vol. 8). Routledge. Wright, R., Dong, M., Sun, L. (2015).Macroeconomic Policy and Household Economics(No. 15-3). Federal Reserve Bank of Minneapolis.