2 PAGES

Instructions: In a 2 to 3 page short critical economic thinking essay of a minimum of 400 words and a maximum of 600 words (penalties applied if below the minimum or above the maximum based on how close to the minimum or maximum is involved), thoughtfully respond to the questions or directives below (do not include the questions/directives in your essay).

The Federal Reserve System directly affects Monetary Policy by using 3 specific tools: 1. Determination of Reserve Requirements; 2. Open Market Operations; and 3. Discounting Operation. 

Briefly describe the Discounting Operation tool. Then, fully describe what constitutes an effective expansionary policy in the use of this tool, followed by a full description of what constitutes an effective contractionary policy in the use of this tool.
Briefly describe the Determination of the Reserve Requirements tool.  Then, fully describe what constitutes an effective expansionary policy in the use of this tool, followed by a full description of what constitutes an effective contractionary policy in the use of this tool.
Briefly describe the Open Market Operations tool.  Then, fully describe what constitutes an effective expansionary policy in the use of this tool, followed by a full description of what constitutes an effective contractionary policy in the use of this tool.
Specific Paper Requirements:

Length must be 2 to 3 pages consisting of a minimum of 400 words and a maximum of 600 words in the body of the essay.  The Title Page and References Page do not count in meeting the word requirement.
Must have a Title Page that includes:

Title of Paper
 Student Name
Institution Name (use: Indiana Tech)
Date Submitted

Since the paper is very short, do not include an abstract, author’s note, etc., at the beginning of the paper.
The entire paper (includes the Title Page and References Page) must be written and formatted according to APA style.  See the APA section under the Course Syllabus tab for access to the APA style manual and sample papers.  The Purdue Owl Sample paper is the best one to use along with the manual to assist your formatting efforts.
In addition to the textbook, a minimum of 2 other scholarly resources must be used and properly cited per APA style in both the body of the paper and the References page.

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