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As a part of the strategy to achieve these objectives, certain targets are commonly built into a framework. When preparing a macro economic framework for a future period, it is necessary, in the first instance, to decide how such a balance between resources and their utilization may be achieved during the plan period. It is necessary to remember that the various flows depicted in the national accounts are not independent. They are in fact all inter-dependent. Where such inter-dependencies can be quantified, these can be built into a macro economic model.

Chapter 2

2.1   Framework & Model

A framework is not a totally a model. We should have a clear idea about the difference between a model and a framework. Framework can be defined as a structure made of parts joined to form a frame and work done on or with a frame whereas a model provides the conceptual lens through which we view our world and try to make sense of it. A Macro economic model is a tool that can be used to prepare a consistent macro framework (Department of National Planning, 2001). Such a plan shows the way to achieve macro-economic objectives. Further a model monitors stabilization/structural adjustments, it analyzes development strategy, quantities policy decisions, analyzes sustainability of policies and analyzes the trade off between policy packages. A framework consist of a large number of parameters that are interpolated on the basis of past values, “informed' guesswork and feasible targets. The whole economy is moved by the target growth rate of each sector.

According to these targets ,or to achieve these targets, government has to adopt their policies and the government's policy framework should direct the pathway, It gives the guidelines, it facilitates resource allocation and disrupt market efficiency to ensure the growth and stability in the economy.

There is no generally agreement on one macroeconomic model. Definition has been in state of flux for more than a decade. Hence the nature of changes in macroeconomics makes it a research area but it is not an easy job to review it in a short period.

Similarly the type of framework appropriate for a one country is not applicable to another country though some general elements are common. Even within the same country the framework can differ according to the different situations. Moreover, any given economy may not neatly fall into one kind or the other.

The document call 'Public Investment Programme' published by the Department of National Planning is based on the on a model call 'Macro framework”. It is very like a Planning model but only not as detailed as a full fledged multi sector planning model. ”Framework' can consist of various elements, which can exp本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。