The final project for this course is the creation of an informative research paper. In the paper, you will compare and contrast the structure and operation of the
central bank of the United States—the Federal Reserve—and the central bank of another country.
This final project will provide an opportunity for you to deepen your understanding of the role of a central bank, or monetary authority. By analyzing the structure and operation of our domestic central bank, the Federal Reserve, in comparison to a foreign central bank chosen from the list below, you will develop an understanding and appreciation for the various tools of monetary policy. In doing this, you may learn that the domestic structure is superior or inferior to an international counterpart, leading to recommendations for potential changes in central bank structure and behavior.
The pre-work for this project is divided into two milestones, which will be submitted at various points throughout the course to scaffold learning and ensure a quality final submission. These milestones will be submitted in Modules Four and Five. The final project will be submitted in Module Seven.
In this assignment, you will demonstrate your mastery of the following course outcomes:
Compare national monetary models in terms of the financial structures of their economies and their process for financial intermediation
Analyze regulation and conduct of monetary policy for its impact on international and domestic economics
Prompt
In Final Project II, you will write a research paper comparing and contrasting the structure and operation of the central bank of the United States—the Federal Reserve—and the central bank of another country, chosen from the list below. You will identify the foreign central bank you have chosen, describe its financial structure, the primary tools it uses to control the money supply, and the role it has in the process of financial intermediation. You will also compare the macroeconomic conditions in each country and the banking regulations of the two central banks.
Central Bank of Ireland
Central Bank of Iraq
Bank of Canada
Reserve Bank of India
Bank of Japan
Reserve Bank of New Zealand
Central Bank of Syria
Central Bank of Brazil
Central Bank of the Russian Federation
Specifically, the following critical elements must be addressed:
I. Introduction
A. Identify the foreign country you have chosen and explain how its central bank was established.
B. Describe the financial structure of both the central bank you have chosen and the Federal Reserve. Do these central banks operate as
independent entities with monetary autonomy?
C. Describe the process of financial intermediation and what role the central bank you have chosen and the Federal Reserve play in that process.
How do firms borrow and lend, and how do the central banks help facilitate that process?
II. Central Banking: Explain the current macroeconomic conditions (unemployment, inflation, and economic growth [GDP] rates) that the Federal Reserve and the central bank you have chosen observe in each country, and compare the performance of the two countries.
III. Monetary Policy
A. Explain the primary tools used by the central bank and the Federal Reserve to control the money supply in each country.
B. Describe how each monetary authority uses these tools to impact macroeconomic performance.
C. Compare banking regulations of the central bank you have chosen and the Federal Reserve.
IV. Conclusion: Using your research as a guide, assess the overall performance of each entity. Could one bank learn a lesson from the other? Milestones
Milestone One: Draft of Introduction
In Module Four, you will submit a 2- to 3-page draft of the Introduction (Section I, above) of the final project. You will identify the foreign country you have chosen and explain how its central bank was established, its financial structures, as well as the role it plays in the process of financial intermediation. This milestone will be graded with the Milestone One Rubric.
Milestone Two: Draft of Central Banking and Monetary Policy
In Module Five, you will submit a 3- to 4-page draft of the Central Banking (Section II) and Monetary Policy (Section III) sections of this paper. You will explain the current macroeconomic conditions in each country and compare their performance. You will also examine each central bank’s monetary policy performance. This milestone will be graded with the Milestone Two Rubric.
Final Submission: Research Paper
In Module Seven, you will submit your final research paper. It should be a complete, polished artifact containing all of the critical elements of the final product, including the Conclusion (Section IV). It should reflect the incorporation of feedback gained throughout the course. This submission will be graded with the Final Project II Rubric.
Final Project II Rubric
Guidelines for Submission: Your paper should be 5 to 7 pages, double-spaced, include one-inch margins, use 12-point Times New Roman font, and adhere to the
latest edition of APA formatting.
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