How fiscal policy is different from monetary policy, including who implements these policies, the goals of each policy, and problems with or limits on those policies.

• define fiscal policy in general and discretionary fiscal policy in particular.

• identify the tools of implementing fiscal policy and the goals intended by the use of these tools. • define monetary policy and who implements monetary policy.

• identify the tools of monetary policy and the intended goals of using this policy.

• For each type of policy clearly state the limits and unintended consequences of using these policies.