Outline
1.Brief Summary: A paragraph giving an overall picture of your country’s monetary economy.
2.Monetary Facts: What is the currency used in your country? Denominations? Paper and/or coins? Who issues the currency? What type of money is it (Fiat/Commodity)?
3.Data Facts: How much money is in supply? How has the money supply changed over time? How about the rate of inflation over the same time? Any ties between the two?
4.Monetary Policy Institution: Describe the central bank of your country. What are the roles of your central bank? What is the policy framework of your central bank or what is its’ mandate?
5.Critique of your Central Bank: Does your central bank have the characteristics of a successful central bank. Is it independent? Does it have accountability and transparency? Is there a clear policy framework? Are decisions made by committee?
6.Monetary Policy: What tools does your central bank use for policy? How often do they meet and how does your bank communicate this information?
7.Commercial Banks: Briefly describe the commercial banking industry of your country. What role do these institutions pay in monetary policy?
8.Challenges Facing the Monetary System: Briefly address any issue tied to the monetary system of your country.
Grading (10 points per part 1-8). Other 20 points are 5 points for having a bibliography and 15 points for completeness and writing. Late penalty is 10 points per day.
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