ECO 306 Final Project II Guidelines and Rubric
Overview
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.
Critical Elements Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value
Introduction: Identify Meets “Proficient” criteria and
explanation shows in-depth
knowledge of the
establishment of a central bank
Identifies the foreign country
chosen and explains how its
central bank was established
Identifies the foreign country
chosen and explains how its
central bank was established,
but explanation is illogical or
incomplete
Does not identify the foreign
country chosen or explain how
its central bank was established
4
Introduction:
Financial Structure
Meets “Proficient” criteria and
description demonstrates a
nuanced understanding of the
financial structures of both
banks
Describes the financial
structure of the central bank
chosen and the Federal Reserve
Describes the financial
structure of the central bank
chosen and the Federal
Reserve, but description
contains inaccuracies or gaps
Does not describe the financial
structure of the central bank
chosen and the Federal Reserve
16
Introduction:
Financial
Intermediation
Meets “Proficient” criteria and
description demonstrates a
nuanced understanding of the
role of the banks in the process
of financial intermediation
Describes the process of
financial intermediation and
what role the central bank and
the Federal Reserve play in that
process
Describes the process of
financial intermediation and
what role the central bank and
the Federal Reserve play in that
process, but description is
cursory or incomplete
Does not describe the process
of financial intermediation and
what role the central bank and
the Federal Reserve play in that
process
16
Central Banking Meets “Proficient” criteria and
comparison demonstrates a
sophisticated awareness of
how macroeconomic conditions
relate to economic
performance
Explains the current
macroeconomic conditions in
each country and compares
performance of the two
countries
Explains the current
macroeconomic conditions in
each country and compares
performance of the two
countries, but explanation
contains gaps or comparison is
cursory
Does not explain the current
macroeconomic conditions in
each country or compare
performance of the two
countries
11
Monetary Policy:
Primary Tools
Meets “Proficient” criteria and
explanation demonstrates a
complex grasp of how primary
tools are used to control money
supplies
Explains the primary tools used
by the central bank and the
Federal Reserve to control the
money supply in each country
Explains the primary tools used
by the central bank and the
Federal Reserve to control the
money supply in each country,
but explanation is missing
components or illogical
Does not explain the primary
tools used by the central bank
and the Federal Reserve to
control the money supply in
each country
11
Monetary Policy:
Impact
Meets “Proficient” criteria and
description demonstrates a
sophisticated awareness of the
impact of primary tools on
macroeconomic performance
Describes how each monetary
authority uses its primary tools
to impact macroeconomic
performance
Describes how each monetary
authority uses its primary tools
to impact macroeconomic
performance, but description is
incomplete or contains
inaccuracies
Does not describe how each
monetary authority uses its
primary tools to impact
macroeconomic performance
11
Monetary Policy:
Regulations
Meets “Proficient” criteria and
comparison demonstrates a
complex grasp of banking
regulations
Compares banking regulations
of the central bank and the
Federal Reserve
Compares banking regulations
of the central bank and the
Federal Reserve, but
comparison is cursory or
contains inaccuracies
Does not compare banking
regulations of the central bank
and the Federal Reserve
11
Conclusion Meets “Proficient” criteria and
assessment demonstrates a
nuanced understanding of what
considerations are used to
measure the overall
performance of each entity
Assesses the overall
performance of each entity,
using research as a guide
Assesses the overall
performance of each entity,
using research as a guide, but
assessment is cursory or
illogical
Does not assess the overall
performance of each entity
16
Articulation of
Response
Submission is free of errors
related to citations, grammar,
spelling, syntax, and
organization and is presented
in a professional and easy-toread
format
Submission has no major errors
related to citations, grammar,
spelling, syntax, or organization
Submission has major errors
related to citations, grammar,
spelling, syntax, or organization
that negatively impact
readability and articulation of
main ideas
Submission has critical errors
related to citations, grammar,
spelling, syntax, or organization
that prevent understanding of
ideas
4
Total 100%
