*The length of the essay should not be more than 2,500 words, excluding footnotes and references. The Econlib site can help you much better with your research than Wikipedia. Be careful to attribute quotes and paraphrases to your sources.
1. The Quantity Theory of Money in its effects on the domestic price level and on the exchange rate.
2. Gresham’s Law. Is it always true that bad money pushes good money out of circulation?
3. David Hume on the Specie Flow Mechanism. [Study the essay on Econlib]
4. The gold standard in England during the second half of the 19th c.
5. The fractional reserve system and the money multiplier: its effects on bank safety.
6. The functions and its duties of Central Banks.
7. The supply of money and the real economy.
8. Compare and contrast the monetary theories of Maynard Keynes and Milton Friedman.
9. Why do central banks use interest rates as a tool rather than different measures of the quantity of money?
10. The Taylor rule.
11. Compare the Bank of England, the Fed, and the European Central Bank.
12. The Mundell triangle: its consequences for the countries in the euro.
13. The conditions of an Optimal Currency Area: what does this theory say about the euro?
14. The connection between the Budget deficit and monetary policy.
15. Fixed v. floating exchange rates: advantages and disadvantages of each.
16. The supervision of financial markets. Did it fail before 2007?
17. ‘Too big to fail’ with special attention to the Volker Report.
18. Is deflation always to be avoided?
19. Are we moving towards a system of virtual moneys? Or back to the gold standard?