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The relationship between money and prices has been a debated
issue among economic schools of thought particularly between the
Monetarists and the Keynesians. The monetarists claim that changes in
money stocks cause changes in price levels. In other words, the
direction of causation runs from money to prices implying that prices
can be controlled through money supply. The keynesians, on the other
hand, argue that money is important but is not responsible for changes
in price levels. Instead, structural factors play important role
suggesting that money supply is not an effective instrument to control
price changes. The causal relationship between money and prices has been
extensively tested in various countries. For example, Brillembourg and
Khan (1979) examined this relationship in USA. Using Sims procedure for
the period 1870-1975, they found unidirectional causality running from
money to prices. Similar directions of causation are reported by Lee and
Li (1983) and Ramachandran and Kamaiah (1992) who investigated the
causal relationship in Singapore and India respectively. On the other
hand, Aghevli and Khan (1978), while investigating the causal
relationship in Brazil, Columbia, the Dominican Republic, and Thailand,
found bidirectional causality between money and prices in these
countries.

The effects of monetary policy on key macro variables have
been studied in the literature. In Pakistan most of these studies
concentrate on exploring the interdependence of money supply, national
income, inflation etc.1 One important, but neglected issue of monetary
policy, is its fiscal effects. The fiscal and monetary authorities being
parts of the total economic policy machinery, the role of monetary
instruments in achieving fiscal objective should not be ignored. In
countries like Pakistan where the central bank is under direct control
of the government, fiscal policy is often made under the assumption that
the monetary policy will be adjusted accordingly.2 There are a number of
ways in which monetary policy may lead to fulfilment of some fiscal
objectives. These include devaluation, change in interest rate and
change in monetary base.

The frequency of terrorist events in Pakistan has increased considerably in the past several years. These events are frequent and not random, making it important to identify useful patterns in their occurrences to assist counterterrorism organizations. In this paper, we conducted such an analytical activity for the first time in Pakistan. We acquired data of terrorist events from reliable online sources and applied data preprocessing techniques followed by cluster analysis. Based on statistical correlation, we discovered clusters over the following combinations: (1) "Event of Terrorism—Target of Terrorism"; and (2) "Event of Terrorism—Method of Terrorism". A more significant clustering is one which groups distinct combinations into separate clusters. We analyzed these clusters along three dimensions: (1) Annually for the time period 1988–2012; (2) for each Pakistani province; and (3) for different types of terrorist events. We also proposed a statistic for gauging the intensity of terrorism and analyzed it along the same three dimensions. Our results were extensive, but generally indicated significant Event–Target and Event–Method clusters, as well as increasing and decreasing trends in terrorism intensity. These can assist counterterrorism authorities in thwarting future attacks and arresting the responsible criminals.

In Pakistan there is growing trend of private education system. Formal and in formal discussions showed that this trend is due to the use of English language teaching and English language as the medium of instruction in private sector. Therefore, it is felt to diagnose the situation in its real sense. The main purposes of the study were: (i) to see the use of resources both in public and private schools. (ii) to diagnose the use of teaching techniques while teaching of English in public and private sector. The study was conducted on a sample 1440 students which were selected from the Punjab province through multi-stage sampling technique. The collected data was analyzed by using SPSS software. Main findings of the study were: Use of A.V. Aids is more frequent in public schools than private schools. Attitude of teachers with students in private school is better than public school teachers. Majority of the public sector school teachers do not encourage students to read English news paper. Majority of the public sector schools rarely or never arrange speech competitions among students while private schools arrange such competitions. Majority of public school teachers rarely or never explain English concept in English but they explain in Urdu. DOI:10.5901/jesr.2013.v3n2p359