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Assignment Brief

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Module Title Financial Markets and the Central Bank Assignment Number 1
Module Code ECON3507 Assignment Title Assignment
Module Leader Dr Thomas Allen Assignment Weighting 50%

Assignment Release Date: 27/10/2023
Submission Date/Time: 15/12/23 12:00 (noon)

Assessment Information – What you need to do

This assignment is an individual assignment.

Choose any central bank in the world.

1. Analyse the structure of the central bank, what are the strengths and weaknesses of how it
is organised and how it makes its decisions. (30%)

2. Explain the most recent monetary policy decision made by your chosen central bank. Why
did they make this decision? What was their goal? How was the decision implemented and
what has been the effect of this policy? (50%)

3. Summarise with an assessment of your chosen central bank’s decision-making. What
changes could be made to how and why it makes its decisions? (20%)

Criteria for Assessment – How you will be marked

The marking criteria are as follows:

Mark Range  Criteria
90-100%  Indicates that no fault can be found with the work other than very minor errors, for example typographical, or perhaps failure to satisfy the most challenging and exacting demands of the assessment.
80-89%  Indicates a very high level of understanding evidenced by an ability to engage critically and analytically with source material.  Likely to exhibit independent lines of argument. Only minor errors or omissions.
70-79%  Judged to be very good, yet not outstanding. May contain minor errors or omissions. A well-developed response showing clear knowledge and the ability to interpret and/or apply that knowledge.
60-69%  Indicates a sound understanding of basic points and principles but with some failure to express or to apply them properly. Hence the answer is essentially correct, has some errors or omissions, and is not seriously flawed.
50-59%  Indicates a more limited understanding of basic points and principles, with significant errors and omissions.  These errors and omissions, however, do not cast doubt on the basic level of understanding.
40-49%  Indicates questionable understanding of basic points and principles yet sufficient to show that learning outcomes have been achieved at a rudimentary level.
30-39%  Indicates an answer that shows only weakly developed elements of understanding.  The learning outcomes have been insufficiently realised.
20-29%  Very little knowledge has been demonstrated and the presentation shows little coherence of material or argument.
0-19%  Only isolated or no knowledge displayed.  

Further information on University mark descriptors can be found here.

This assignment is designed to assess the following learning outcomes:

1) Develop a conceptual understanding of the importance of the central bank, its monetary policy and the specifics of how a central bank (CB) conducts monetary policy.

2) Demonstrate an ability to analyse the impact of developments in banking and the financial on the real economy.

You are expected to use suitable research materials and to cite these accurately. You will need up-to-date information about the central bank and their decisions, and will need information on the effects of these decisions.

Assessment Details

The word count is 1500.

This is a very loose recommendation, but very much less than this and you probably have not included enough detail. Very much more than this and you have probably gone beyond the confines of the question or can make your points in a much more concise fashion.

There will be a penalty of a deduction of 10% of the mark for work exceeding the word limit by 10% or more.

The word limit includes tables, figures, quotations and citations, but excludes the references list and appendices.

How to Submit your Assessment

The assessment must be submitted by 12:00 noon (GMT/BST) on 15/12/23. No paper copies are required. You can access the submission link through the module web.

• Your coursework will be given a zero mark if you do not submit a copy through Turnitin. Please take care to ensure that you have fully submitted your work.
• Please ensure that you have submitted your work using the correct file format, unreadable files will receive a mark of zero. The Faculty accepts Microsoft Office and PDF documents, unless otherwise advised by the module leader.
• All work submitted after the submission deadline without a valid and approved reason will be subject to the University regulations on late submissions.
o If an assessment is submitted up to 24 hours late the mark for the work will be capped at the pass mark of 40 per cent for undergraduate modules or 50 per cent for postgraduate modules
o If an assessment is submitted beyond 24 hours late the work will receive a mark of zero per cent
o The above applies to a student’s first attempt at the assessment. If work submitted as a reassessment of a previously failed assessment task is submitted later than the deadline the work will immediately be given a mark of zero per cent
o If an assessment which is marked as pass/fail rather than given a percentage mark is submitted later than the deadline, the work will immediately be marked as a fail
• The University wants you to do your best. However, we know that sometimes events happen which mean that you can’t submit your coursework by the deadline – these events should be beyond your control and not easy to predict. If this happens, you can apply for an extension to your deadline for up to five working days, or if you need longer, you can apply for a deferral, which takes you to the next assessment period (for example, to the re-sit period following the main Assessment Boards). You must apply before the deadline for your assessment. You will find information about applying for extensions and deferrals here.
• Students MUST keep a copy and/or an electronic file of their assignment.
• Checks will be made on your work using anti-plagiarism software and approved plagiarism checking websites.

Return of Marked Work

You can expect to have feedback returned to you on Monday 15th January 2024. If for any reason there is a delay you will be kept informed. Marks and feedback will be provided online, with opportunities for in-person feedback, and also summary of feedback in-class. It is important that you access the feedback you receive as this will help to make improvements to your later work, you can request a meeting with your Module Leader or Personal Tutor to discuss your feedback in more detail.

Marks will have been internally moderated only, and will therefore be provisional; your mark will be formally agreed later in the year once the external examiner has completed their review. More information on assessment and feedback can be found here.

Academic Integrity and Generative AI Use

In submitting a piece of work for assessment it is essential that you understand the University’s requirements for maintaining academic integrity and ensure that the work does not contravene University regulations. Some examples of behaviour that would not be considered acceptable include plagiarism, re-use of previously assessed work, collusion with others and purchasing your assignment from a third party. For more information on academic offences, bad academic practice, and academic penalties, please read chapter four of our academic regulations.

Generative AI tools may be used selectively for this assessment.

Specifically you may use AI for ideas generation and research purposes but you may not use it for writing.

Any use of generative AI needs to be appropriately acknowledged. Students should add a statement explaining which technologies were used, how they were used and how this output was then used to complete the assignment. Direct use of outputs should be cited.

Examples of a student acknowledgement statement are shown below:

Statement of acknowledgment 1 – generative AI used when module leader allows it.

I have used (list all AI system (s) used and links e.g., Google’s Bard, https://bard.google.com) to (provide details of how you have used generative artificial intelligence e.g., to breakdown some of the concepts taught on the module). The prompt (s) I have used are (include the prompt (s) e.g., you are an enthusiastic tutor who is also an experienced economist, help me understand the concept of game theory with explanations and examples). What was generated from these prompts was used to (explain how they were used in your submission, e.g., develop a section on game theory exemplars).
Statement of acknowledgment 2 – generative AI not used when module leader allows it.
This assessment has not used any generative-AI.
You can find the library guide on generative AI use here – https://library.dmu.ac.uk/genai

Academic Support and Your Well-being

Referencing is the process of acknowledging other people’s work when you have used it in your assignment or research. It allows the reader to locate your source material as quickly and easily as possible so that they can read these sources themselves and verify the validity of your arguments. Referencing provides the link between what you write and the evidence on which it is based.
You identify the sources that you have used by citing them in the text of your assignment (called citations or in-text citations) and referencing them at the end of your assignment (called the reference list or end-text citations). The reference list only includes the sources cited in your text. The main referencing guide can be found here and includes information on the basics of referencing and achieving good academic practice. It also has tabs for the specific referencing styles depending on whether you require Harvard style used in business or OSCOLA style used by the Law school.
The University has a wealth of support services available to students; further information can be obtained from Student Gateway, the Student Advice Centre, Library and Learning Services and, most importantly, your Personal Tutor. If you are struggling with your assessments and/or deadlines please do seek help as soon as possible so that appropriate support and guidance can be identified and put in place for you. More information can be found on the Healthy DMU pages.