International monetary 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
International monetary system Assignment Essay
The international monetary system (IMS) is a set of rules, conventions, and supporting institutions that facilitate international trade, cross-border investment, and generally the reallocation of capital between states that have different currencies. The IMS is essentially a network of institutions, rules, and norms that govern how countries’ currencies interact with each other.
The IMS has evolved over time, and there have been several different systems in place since the Bretton Woods system was established in 1944. The current system is often referred to as a “managed float” system, in which currencies are allowed to float freely against each other, but central banks can intervene in the market to influence exchange rates.
The IMS is important for a number of reasons. First, it helps to facilitate international trade. When countries’ currencies are pegged to each other, it is easier for businesses to trade with each other, as they do not have to worry about fluctuations in exchange rates. Second, the IMS helps to promote financial stability. By providing a framework for managing exchange rates, the IMS helps to prevent financial crises. Third, the IMS helps to promote economic growth. By facilitating international trade and investment, the IMS helps to boost economic growth in countries around the world.
There are a number of challenges facing the IMS today. One challenge is the rise of China as a major economic power. China’s currency, the renminbi, is not yet fully convertible, and this has made it difficult for China to integrate into the global financial system. Another challenge is the increasing volatility of exchange rates. This volatility can make it difficult for businesses to plan for the future, and it can also lead to financial crises.
Despite these challenges, the IMS remains an essential part of the global economy. It helps to facilitate international trade, promote financial stability, and boost economic growth. The future of the IMS is uncertain, but it is likely to continue to evolve in response to the changing needs of the global economy.
Here is a more detailed overview of the different types of IMS that have been in place over time:
The gold standard: The gold standard was the first truly global IMS. It was in place from the late 19th century to the early 1930s. Under the gold standard, each country’s currency was pegged to a certain amount of gold. This meant that the value of each currency was fixed in terms of gold. The gold standard helped to promote international trade and financial stability. However, it also made it difficult for countries to respond to economic shocks.
The Bretton Woods system: The Bretton Woods system was established in 1944. It was a fixed exchange rate system, in which the value of each currency was pegged to the US dollar. The US dollar was in turn pegged to gold. The Bretton Woods system helped to promote international trade and financial stability. However, it also had some drawbacks. For example, it made it difficult for countries to devalue their currencies in response to economic shocks.
The current system: The current system is often referred to as a “managed float” system. Under this system, currencies are allowed to float freely against each other, but central banks can intervene in the market to influence exchange rates. The current system has some advantages over the Bretton Woods system. For example, it allows countries to respond more flexibly to economic shocks. However, it also has some drawbacks. For example, it can lead to greater exchange rate volatility.
The future of the IMS is uncertain. However, it is likely to continue to evolve in response to the changing needs of the global economy. Some possible future developments include the rise of a new global currency, the adoption of a single global currency, or the continued evolution of the current managed float system.
International monetary 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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