The University of Adelaide Quantitative Easing in Theory and Practice Essay

Description

You are an economist working for an investment management organisation, and have been tasked to produce a report, of a professional standard, of between 1,500 and 2,000 words, excluding references, using the title “Quantitative Easing in Theory and Practice”.

Your report should consist of a brief executive summary, for senior management, as well as a logically structured, well researched and informative, professionally presented main body, followed by a very brief summary or conclusion.

While the contents of the report are left to your judgement, it is suggested that an effective report should cover most if not all of the following areas.

The nature and purpose of quantitative easing (QE).
The reasons for the introduction of a QE policy in Australia on 18th March 2020.
The implications of QE for the cash rate; yields on federal treasury bonds; yields on bonds issued by state and territory governments and corporates; the stock market; and the economy.
The main similarities and differences between QE in Australia and in at least one other country.

You should include either in-text references or footnotes, and list your sources at the end of your report, in alphabetical order, using the Chicago Style Manual as a guide:

https://www.chicagomanualofstyle.org/tools_citationguide/citation-guide-2.html (Links to an external site.)

Given the time constraint I will be under, to produce your grades, you will not receive detailed written feedback on this piece of writing, and in this sense should think of it as part of your final examination.

However, you are being provided with an approximate rubric, identifying roughly how I will be assessing you. I retain the right to exercise my personal judgement in your overall grading.

Rubric Weighting HD D C P F
Structure 20% A clear logical structure, which is appropriate for the style of the assignment, and of a professional standard. A clear logical structure, but with at least one minor flaw relating to form, following instructions, or meeting the requirements of professional economics writing. A clear logical structure, but with at least one major flaw. or multiple minor flaws, relating to form, following instructions, or meeting the requirements of professional economics writing. An attempt has been made to use a logical structure, but with multiple major flaws. Insufficient care has been taken in the structure of the assignment, which has seriously impaired its effectiveness as a piece of writing.
Description and Analysis 50% There is consistent evidence of clear and correct description and appropriate analysis of a professional standard. There is evidence of clear and correct description and appropriate analysis, but with at least one significant flaw. There is consistent evidence of clear and correct description and appropriate analysis, but with multiple flaws, or at least one major flaw. There is consistent evidence of clear and correct description and appropriate, but with multiple major flaws.. Insufficient care has been taken to provide clear descriptions and/or explanations, which has seriously impaired the effectiveness of this piece of writing.
Communication and Presentation 30% Highly effective and professionally presented communication throughout. There are only minor lapses in presentation or communication. There are major lapses in presentation or communication. Some effort has been taken in presentation and communication, but there are multiple major lapses. Insufficient effort has been taken in presentation and communication, seriously impairing the effectiveness of this piece of writing.

While you will wish to undertake additional research, you may wish to refer to the following three videos and four written sources:

VIDEOS.

1) How the Reserve Bank Implements Monetary Policy (RBA 2018).

https://www.youtube.com/watch?v=1bBizpkB8dU (Links to an external site.)

2) Quantitative Easing (MMA 2020).

https://www.youtube.com/watch?v=vZjAHSGa_2E&fbclid=IwAR03iYg8hMtoWOVzylRimv2NhTgn_px2Bf7E1X3AjOqbh966xq_N-rl3b3M (Links to an external site.)

3) Money Creation in the Modern Economy (Bank of England 2014).

https://www.youtube.com/watch?v=CvRAqR2pAgw&feature=emb_logo (Links to an external site.)

WRITTEN SOURCES.

1) https://www.rba.gov.au/speeches/2020/sp-gov-2020-04-21.html (Links to an external site.)

(Links to an external site.)

2) https://www.bankofengland.co.uk/-/media/boe/files/speech/2018/the-history-and-future-of-qe-speech-by-ben-broadbent.pdf?la=en&hash=127499DFD9AE5D6E0F3FC73529E83FDF9766471D (Links to an external site.)

3) https://www.bis.org/publ/work680.pdf (Links to an external site.)

4) https://modernmoneynetwork.org/content/changes-central-bank-procedures-during-subprime-crisis-and-their-repercussions-monetary

Explanation & Answer: 2000 words
Tags: quantitative easing judgement Money Creation
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