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the essay was not approved by the professor, and out of 100 points, it only got the lowest rank, i.e. 10 points. The professor’s opinion about the essay that should be completed for the third time is this.
Hopefully, for the last chance to get a passing grade, it should be completed according to the teacher’s opinion.
Read Yeager (1997), and you will see what the BFH system refers to, Black, Fama and Hall. You can’t just make it up. That’s not creative writing. Yeager (1976) deals with international economic relations, so it is the wrong reference. For one hundred percent reserves, you must read Huerta de Soto. What does that system entail? What are the characteristics of free banks? You must define the three systems based on the course literature to begin with. What system is Garrison’s capital-based macroeconomics based on? What happens to credits? What does this mean for financing innovative, productive investments? What is the difference between free banks and the BFH system, according to Yeager. What does the BFH system mean? Your description has little to do with that system. Read Yeager! What is capital structure and how is it affected by international inflows. Read and use the course literature!
Rewrite the entire essay, taking into account the comments above as well as the course literature.
Essay:
Each student shall individually write an essay (3400-3600 words), using a capital-based
macroeconomic framework and taking stability and progress considerations into account. The essay shall contain references used in the analysis. Follow the guidelines of a journal, such as
the Journal of Economic Behavior & Organization.uploading essay i submitted earlier
At the latest on 2024-07-22 at 15:00 .NTERNATIONAL MACROECONOMICS
Lecture 1: International Capital Flows in Capital-Based Macroeconomics Garrison chap 1-4; Bailliu
Lecture 2: International Monetary Regimes
Leijonhufvud chap 1, 6; Yeager I chap 4, Yeager II part 3: “The Significance of Monetary Disequilibrium”, part 4: “Monetary Policy”, “Stable Money and Free-Market Currencies”, “A Laissez-Faire Approach to Monetary Stability”
Seminar 1: The Capital Structure of the Economy
Lewin chap 1-3, 8, 10
Seminar 2: Capital Theory, Microfoundations, and Macroeconomics
Horwitz chap 1-4
Seminar 3: Money, Credit, and Cycles
Huerta de Soto chap 4-6
Seminar 4: Macroeconomics of the Capital Structure
Garrison chap 1-4, 11
Seminar 5: International Aspects on Macroeconomic Coordination
Leijonhufvud chap 1, 6, 10, 12, 14
Seminar 6 Monetary System and Monetary Stability
Yeager II part 3: “The Significance of Monetary Disequilibrium”, part 4: “Monetary Policy”,“Stable Money and Free-Market Currencies”, “A Laissez-Faire Approach to Monetary Stability”, “A Real GNP Dollar”, “Can Monetary Disequilibrium Be Eliminated”
Seminar 7: Exchange Rates and Balance of Payments Adjustments
Yeager I chap 4-6, 15-17
Seminar 8: Regional Currency Areas
Artus, Cartapanis & Legros chap 5 (Cartapanis & Dropsy), 6 (Miotti, Plihon & Quenan),7 (B�nassy-Qu�r� & Coer�), 10 (Aglietta, Baulant & Moatti)Course Readings:
Artus, Patrick, Andr� Cartapanis and Florence Legros (ed.), (2005), Regional Currency Areas
in Financial Globalization, Cheltenham: Edward Elgar.
Bailliu, Jeaninne N., (2000), “Private Capital Flows, Financial Development, and Economic
Growth in Developing Countries”, Bank of Canada Working Paper 2000-15,
http://www.bankofcanada.ca/publications/working.papers/2000/wp00-15.pdf.
Eichengreen, B. (2008). Globalizing Capital: A History of the International Monetary System,
Second Edition, Princeton, NJ: Princeton University Press.
Garrison, Roger W., (2001), Time and Money: The Macroeconomics of Capital Structure,
London and New York: Routledge.
Horwitz, Steven, (2000), Microfoundations and Macroeconomics: An Austrian Perspective,
London and New York: Routledge.
Huerta de Soto, Jes�s, (2006), Money, Bank Credit, and Economic Cycles, Auburn, AL:
Ludwig von Mises Institute.
Leijonhufvud, Axel, (2000), Macroeconomic Instability and Coordination: Selected Essays of
Axel Leijonhufvud, Cheltenham: Edward Elgar.
Lewin, Peter, (1999), Capital in Disequilibrium: The Role of Capital in a Changing World,
London and New York: Routledge.
Yeager, Leland B., (1976), International Monetary Relations: Theory, History, and Policy,
Second Edition, New York: Harper and Row.
Yeager, Leland B., (1997), The Fluttering Veil: Essays on Monetary Disequilibrium, George
Selgin (ed.), Indianapolis: Liberty Fund.BR/Hassan
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