NWANEKWE VALENTINE CHUKWUEMEKA
Department of Political Science,
Ebonyi State College of Education, Ikwo.
Ebonyi State, Nigeria
NJOKU MARCELLINUS OZOEMENA
Department of Political Science,
Ebonyi State College of Education, Ikwo.
Ebonyi State, Nigeria
&
AWAM SYLVESTER
Department of Education Foundation
Ebonyi State College of Education, Ikwo
Ebonyi State, Nigeria.
Abstract.
The meaning of theory and economy including the views of the older economist like Keynes and the classical scholars were analyzed especially in relation to some economic theories. Consequently, the quantity theory of money and the Cambridge schools of thought. Their applications and implication to the modern economy, with respect to Nigeria were equally discussed. Some key monetary policies in Nigeria which are expansionary and contractionary measures in the control of the volume of money in circulation were equally studied and discussed. Problems militating against the performance of monetary policies in Nigeria were highlighted and recommendations made accordingly on ways of improving on the already existing status-quo. Some of the recommendations include: that existing monetary policies should not be distorted, economy of Nigeria should be diversified and that policy planners should be involved in the implementation of formulated policies to avoid deviation.
Keywords: Monetary theories and policies.
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