Bretton Woods system Assignment Essay
| Order ID | 53563633773 |
| Type | Essay |
| Writer Level | Masters |
| Style | APA |
| Sources/References | 4 |
| Perfect Number of Pages to Order | 5-10 Pages |
Description/Paper Instructions
Bretton Woods system Assignment Essay
The Bretton Woods system was a system of international monetary management established by the Bretton Woods Agreement in 1944 at the United Nations Monetary and Financial Conference in Bretton Woods, New Hampshire. The agreement was signed by 44 countries and went into effect in 1945.
The Bretton Woods system was a fixed exchange rate system, which meant that the value of each currency was pegged to the value of gold. The US dollar was the central currency of the system, and all other currencies were pegged to the dollar. The US government agreed to buy and sell gold at a fixed price of $35 per ounce.
The Bretton Woods system was designed to promote economic growth and stability after World War II. It did this by providing a framework for international trade and investment, and by preventing competitive devaluations of currencies.
The Bretton Woods system worked well for the first two decades after its inception. However, in the 1960s, the system began to come under increasing strain. The US was running a large balance of payments deficit, which meant that it was exporting more dollars than it was importing. This led to an increase in the supply of dollars in the global economy, and to a decline in the value of the dollar relative to gold.
In 1971, the US government announced that it would no longer redeem dollars for gold. This effectively ended the Bretton Woods system, and led to a period of floating exchange rates.
The Bretton Woods system had a number of positive effects. It helped to promote economic growth and stability after World War II. It also provided a framework for international trade and investment. However, the system also had some flaws. It was too rigid, and it did not allow for the necessary adjustments in exchange rates. This led to the system’s collapse in the early 1970s.
The Bretton Woods system is still studied by economists today. It is seen as a model of how to manage the international monetary system, and its lessons are still relevant today.
Here are some of the key features of the Bretton Woods system:
Fixed exchange rates: The value of each currency was pegged to the value of gold. This meant that the exchange rate between any two currencies was fixed.
The US dollar as the central currency: The US dollar was the central currency of the system. All other currencies were pegged to the dollar.
The gold standard: The US government agreed to buy and sell gold at a fixed price of $35 per ounce. This ensured that the value of the dollar was stable.
The International Monetary Fund (IMF): The IMF was created to help countries manage their balance of payments. It could provide loans to countries that were experiencing balance of payments problems.
The World Bank: The World Bank was created to provide loans to developing countries. It could provide loans to countries that were trying to finance economic development projects.
The Bretton Woods system was a major achievement of the post-World War II era. It helped to promote economic growth and stability, and it provided a framework for international trade and investment. However, the system also had some flaws, and it eventually collapsed in the early 1970s. The lessons of the Bretton Woods system are still relevant today, as economists continue to study how to manage the international monetary system.
Bretton Woods system Assignment Essay
RUBRIC | QUALITY OF RESPONSE | NO RESPONSE | POOR / UNSATISFACTORY | SATISFACTORY | GOOD | EXCELLENT | | Content (worth a maximum of 50% of the total points) | Zero points: Student failed to submit the final paper. | 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. | 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. | 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. | 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. | | Use of Sources (worth a maximum of 20% of the total points). | Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. | 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. | 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. | 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. | 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. | | Grammar (worth maximum of 20% of total points) | Zero points: Student failed to submit the final paper. | 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors | 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors | 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. | 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. | | Structure of the Paper (worth 10% of total points) | Zero points: Student failed to submit the final paper. | 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. | 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper | 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. | 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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