Econ1085 International Monetary Economics Assessment Answer

Course code and name: Assessment name: Final Paper - Essay Title: An International Macroeconomic analysis and critical review of the Singaporean economy 2020 – current challenges and future directions. Is Singapore well positioned to recover in 2021  CLO's assessed: Analyse the concept of a nation’s balance of payments to examine the economic importance of changes in a nation’s net foreign wealth position. Synthesize and evaluate theories of exchange rate determination. Assess the policy options available in an open macroeconomic environment. Evaluate the extent to which macroeconomic policy effectiveness is affected by macroeconomic openness. Assess the implications of a government’s choice between a fixed and a floating exchange rate regime. Analyse the causes and effects of currency crises. Final Assessment COURSE CODE: ECON1085 COURSE DESCRIPTION: International Monetary Economics ASSESSMENT DURATION: Submission Closes at 11.59pm 10th October Word count  The final assessment is applied in nature and encourages you to use the tools developed in the course content to analyse and make sense of the world around you. In 2020 economies around the world have experienced unprecedented shocks to their internal and external balance situations driven by necessary closures and shuts downs of economic activity to deal with the Covid 19 health crisis. Recovery from deep Global crisis can be uneven and some economies are better positioned to recover than others. Your final assessment task for IME is to apply the theory developed in the course to the current world events from the Singaporean perspective. Essay - Harvard referencing to be used. Word count to be stated on the title page. Title: An International Macroeconomic analysis and critical review of the Singaporean economy 2020 – current challenges and future directions. Is Singapore well positioned to recover in 2021 Required – Essay or report (Links to an external site.) format with diagrams/ Graphs to support arguments and assessments of current and likely future economic outcomes and adjustment processes. Apply knowledge developed from each course topic in your scenario analysis - for example the final piece of work may follow a structure such as: - Introduction Assessment of 2020 changes in the Balance of payments and net foreign wealth The intertemporal model of the current account- the CA balance: likely changes and implications for future consumption Exchange rate determination in the short run and the long run - What can theory tell us about current and likely future changes in the value of SGD – assessment of policy mechanisms and adjustments possibly required to maintain the exchange rate within a given band Elasticities and absorption approach to the current account – how might changes to the exchange rate flow through to the domestic economy. What about Y-A = X-M? The RER and internal and external balance- automatic mechanisms of adjustment- Where is Singapore currently on the SWAN diagram - possible policy interventions? (noting you can make assumptions about relative elasticities of the IB / EB schedules) Macroeconomic policy options put in place over the year – likely outcomes / limitations-using the IS-LM-BP to illustrate Choice of exchange rate regime – has Singapore’s exchange rate mechanism help or hindered recovery How well is Singapore positioned to recover in 2021 Conclusion / discussion Learn about assessment task skills here (Links to an external site.) Learn how to write an essay here (Links to an external site.) Learn general writing skills here (Links to an external site.) If you need individual support, go to the online Study Support Hub via Ask The Library (Links to an external site.) Writing Skills Forsyth, P & Connelly, J 2012, Essay writing skills essential techniques to gain top marks,