The following essay with the title „Central Banking – The organisation of the Fed and
their politics within the last years (esp. in comparison to the ESCB)“ is part of the final
examination of the course International and Baltic Finance at the University of Applied
Sciences Stralsund.
This paper will explain central banking in general and than have a closer look on the
U.S. Federal Reserve System. After that it will have a look on the European System of
Central Banks, continuing with comparing the two systems, looking for the similarities
and differences.
During my research I read quiet a lot of books and articles and after some time I really
got interested in the topic. I really wanted to know how all this central banking works,
and what kind of system (the American or the European) is the better one. But I also
recognised that there are of course plenty of books, dealing with this topic, but
everybody seems to have a different opinion, of what is better, what suits the society
best. So while writing this essay, I tried to give back what I found interesting and what
seems to be the opinion of several people.
Unfortunately I could not stick to the required 3000 words, because my topic was so
complex and wide, that it forced me to write some more words on it.
Inhaltsverzeichnis (Table of Contents)
- Preface
- Introduction
- The Federal Reserve System (Fed) in the USA
- The History
- The Structure
- The European System of Central Banks (ESCB)
- The History
- The Structure
- The Comparison
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This essay aims to provide an understanding of central banking, focusing specifically on the Federal Reserve System (Fed) in the USA and the European System of Central Banks (ESCB). It explores the history, structure, and policies of these two systems, examining their similarities and differences.
- The role and functions of central banks
- The historical development of the Fed and ESCB
- The organizational structures of the Fed and ESCB
- The impact of central banking on economic stability
- Comparative analysis of the Fed and ESCB policies
Zusammenfassung der Kapitel (Chapter Summaries)
The preface sets the context for the essay, outlining the main objectives and scope of the research. The introduction defines central banking and discusses its importance in a rapidly changing financial market. Chapter 3 examines the history and structure of the Federal Reserve System (Fed) in the USA. Chapter 4 explores the history and structure of the European System of Central Banks (ESCB). The comparison chapter analyzes the similarities and differences between the Fed and ESCB.
Schlüsselwörter (Keywords)
This essay focuses on the key concepts of central banking, economic stability, the Federal Reserve System (Fed), the European System of Central Banks (ESCB), monetary policy, and the comparison of these two major central banking systems.
Frequently Asked Questions
What are the main differences between the Fed and the ESCB?
The essay compares the organizational structures, historical backgrounds, and monetary policy objectives of the US Federal Reserve and the European System of Central Banks.
How is the Federal Reserve System structured?
The Fed consists of the Board of Governors, the Federal Open Market Committee (FOMC), and twelve regional Federal Reserve Banks.
What is the primary goal of the ESCB?
The ESCB's primary objective is to maintain price stability within the Eurozone, supporting general economic policies in the EU.
Why is central banking important for economic stability?
Central banks control the money supply and interest rates, which are crucial for managing inflation and fostering sustainable economic growth.
Which system is considered more effective?
The essay explores various expert opinions on whether the American or European model better suits societal needs, noting that both have unique advantages and challenges.
- Arbeit zitieren
- Simone Weinert (Autor:in), 2003, Central Banking - The organisation of the FED and their politics within the last years (esp. in comparison to the ESCB), München, GRIN Verlag, https://www.grin.com/document/23713
