Balance of payments Assignment Essay

Balance of payments Assignment Essay

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Balance of payments Assignment Essay

The balance of payments (BoP) is a statistical statement that summarizes all economic transactions between a country and the rest of the world over a certain period of time. It is a record of all payments received from foreigners and all payments made to foreigners. The BoP is divided into two main components: the current account and the capital account.

The current account records all transactions involving the exchange of goods, services, and income. It includes the following sub-accounts:

Exports of goods and services: This account records the value of goods and services that a country sells to foreigners.

Imports of goods and services: This account records the value of goods and services that a country buys from foreigners.

Net income from abroad: This account records the income that a country receives from foreigners, such as dividends, interest, and rent, minus the income that a country pays to foreigners.

Transfer payments: This account records the transfer of money between countries that is not made in exchange for goods, services, or income. This includes things like foreign aid, remittances, and pensions.

The capital account records all transactions involving the exchange of assets. It includes the following sub-accounts:

Foreign direct investment (FDI): This account records the purchase of physical assets in a country by foreigners, such as factories, office buildings, and land.

Portfolio investment: This account records the purchase of financial assets in a country by foreigners, such as stocks, bonds, and derivatives.

Other capital flows: This account records all other capital flows between countries, such as loans, trade credits, and currency swaps.

The BoP is a useful tool for economists and policymakers to track a country’s economic performance and to assess its external position. A country with a current account deficit is said to be importing more goods and services than it is exporting. This can lead to a decline in the value of the country’s currency and can make it more difficult for the country to borrow money from abroad. A country with a capital account surplus is said to be accumulating foreign assets. This can lead to an increase in the value of the country’s currency and can make it easier for the country to borrow money from abroad.

The BoP is not always balanced. In fact, most countries have a current account deficit or surplus. The BoP is only balanced if the sum of the current account and the capital account is zero. This is called balance of payments equilibrium.

There are a number of factors that can affect a country’s BoP. These include the level of economic growth, the exchange rate, interest rates, and government policies. A country’s BoP can also be affected by external factors, such as changes in the global economy.

The BoP is an important economic indicator, but it is not the only one. Economists and policymakers also look at other indicators, such as the inflation rate, the unemployment rate, and the growth rate of GDP. The BoP is just one piece of the puzzle, but it can be a useful tool for understanding a country’s economic performance and its external position.

Here are some additional things to know about the balance of payments:

The BoP is a flow concept, which means that it measures transactions over a period of time, such as a year.

The BoP is recorded in terms of the country’s currency.

The BoP is published by the International Monetary Fund (IMF).

The BoP can be used to track a country’s economic performance and its external position.

The BoP can be used to analyze the impact of economic policies on a country’s balance of payments.

Balance of payments Assignment Essay

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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