Economics Problems? Don't talk to me.

But it's always fun to put Economics terms in simple and crude layman language and examples. Note, I might be/am probably wrong. So don't put any of this in your Eco test.

Anyway, just this morning/last night, Anthony asked me:

Q: What's the difference between decentralisation and deregulation?
A: If something is decentralised, the private sector (not the government) is just like: "Chill, we got this, bro". But if something (Labour Market, for example) is centralised, the government is like: "OKAY BITCHES, PISS OFF! WE'RE RUNNING THIS JOINT!" With gun's a-blazin'. Think China.

As for a regulated something, that means less red tape and other annoying stuff, like OHS. For a deregulated something, think no rules. Less government control of how business is done.

So the difference between centralised and regulated is that with centralised, the government does it all. With regulated, the government is just being a bitch.

(I'm just making the questions up. For the fun of it, the answers are probably obvious. )
Q: What's the difference between inflation and hyperinflation?
A: Judge by the number of zeros. High single digits would be classified extremely high inflation. I'm not sure about 2 to 7 digits, but once it hits 1,000,000%, that's hyperinflation.

Basically, it's more worth it to burn the money to keep yourself warm than to buy actual wood to burn.

(okay now this is getting lame. whatever, it's better than the sporting finals in australia)
Q: Difference in monetary policy and fiscal policy in managing economic growth?
A: Well firstly, they're completely different policies. But to answer the question, MP affects the cost of borrowing money, and this in turn affects demand and supply in the entire economy. It's quite effective in managing economic growth and keeping it sustainable in the short to medium turn. However, it's effects are limited (can't affect supply problems) so think of it as a small wrench, fixing the pipes. .

Fiscal policy is basically the Government's budget, where big changes to taxation and expenditure can occur. However, this can really only be useful on a yearly basis and in big blocks, like fiscal stimulus. A monthly budget would be a bit silly. So fiscal policy can be thought as a sledgehammer. If the pipes are a bit tight and there's a massive leak, whack the wrench with the hammer. Problem solved. Unless you took a massive loan on the sledgehammer or made the pipes too tight.

._______________________.
Back to reality/normal life. Holidays are getting a bit boring, mostly 'cos my trainings are getting washed out by the rain. But in more exciting new, I FINISHED THE TEXTBOOK! BY THAT I MEAN I FINISHED MY ECONOMICS NOTES!!! WHEEEEEEE. Exciting day. More exciting than the grand final.

That's what most of my holidays have been, hiding inside, doing economics. And taking over Europe. But this time I'm British. Jolly good. Took most of France, heading up to Denmark later tonight. I'm still allies with them :/ But it's in my victory conditions to take their land. Oh well. BACKSTAB. Took most of the French Empire now, pretty exciting. They're got barely an empire, only, what, 3 regions left? Taking Paris was easy, but HOLDING it wasn't easy. Napoleon kept trying to take it back (naturally), and the Parisians (?) were too discontent. Had 2 rebellions.

Effing French.