TERM 2 2023/24
COURSEWORK ASSESSMENT COVER SHEET
ECON0038 Economics of Money and Banking
ESSAY TOPICS
1. Assess the success of quantitative easing and forward guidance in the countries which have utilised these policies during the Global Financial Crisis (GFC). Discuss the benefits (if any), as well as the downsides.
This essay invites you to critically assess the effectiveness of quantitative easing and forward guidance as monetary policy tools in the countries that have implemented them during GFC. You are encouraged to explore and evaluate both the positive outcomes and potential drawbacks associated with these policies. Consider the broader economic context within which these policies were applied, including their impact on inflation, employment, and overall economic growth. Additionally, reflect on any long-term consequences or challenges that have emerged. Your analysis should draw on specific examples and, where possible, incorporate relevant economic theories and data to support your arguments.
2. Analyse the impact and effectiveness of monetary policies by various countries during the COVID-19 pandemic.
This topic calls for an in-depth analysis of how different monetary policies, including but not limited to interest rate adjustments, quantitative easing, and fiscal stimulus, have influenced economies during the COVID-19 pandemic. Discuss the immediate and potential long-term effects of these policies, evaluating their effectiveness in stabilizing economies and promoting recovery. Consider the unique challenges the pandemic presented and how monetary policies were tailored to address them.
3. Analyse the challenges and effectiveness of monetary policy in economies that are near or at the Zero Lower Bound (ZLB). Highlight the potential benefits and limitations of these strategies.
This essay topic requires a comprehensive analysis of the intricacies and efficacy of monetary policy in economies that are at or near the ZLB on interest rates. Explore the challenges central banks face under such circumstances and evaluate both traditional and unconventional monetary policy tools they have implemented to spur economic activity. Your discussion should cover the potential advantages and drawbacks of these strategies, providing insight into their overall effectiveness in stimulating economies constrained by the ZLB.
Structure
Title Page:
Your title page must include your candidate number, the Essay Topic Title, and the Word Count. This ensures anonymity in grading and helps in managing submissions efficiently.
Introduction:
- Consider starting with a hook to engage the reader, such as a compelling fact or question about the significance of monetary policy in economic crises.
- Clearly state your topic or main argument, outlining what your essay will demonstrate about the effectiveness and challenges of monetary policy.
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