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Introduction
Every country has its own currency. The value of a countrys currency is directly related to its economics. Therefore, the value of each countrys currency is different.
The question becomes, How can countries and businesses do business with each other when the value of each countrys currency is different?
The answer is The Currency Exchange Rate.
With the advent of the Internet, there has been an explosion in the Forex Market to the point where this market dwarves all other markets. The Forex Market (FX for short) is where currencies are bought and sold and a price is fixed on a moment-by-moment basis between the values of different currencies. This is known as the currency exchange rate.”
For example, as of this writing, $1 U.S. will get you $1.31 Canadian. This difference in the exchange rate means that the U.S. Dollar (the U.S. economy) is stronger than the Canadian Dollar (the Canadian economy) because for each U.S. Dollar, you get more Canadian Dollars.
Conversely, for $1 U.S., you’ll only get $0.80 Sterling or British Pound. The U.S. economy is weaker than Englands economy because for each U.S. Dollar, you get less British Pounds.
Project Instructions
Choose one country from the following list:
Japan
UK (United Kingdom England Great Britain)
Australia
Canada
South Korea
This final project will require you to examine the FX currency of your choice from the list above versus the U.S. Dollar over any recent consecutive five-year period as to why the exchange rate fluctuated during that period.
Writing Guidelines
Use the following writing guidelines to complete and submit your paper:
Using Microsoft Word or a Word-compatible program, include the following information at the top of the paper:
Your Name
Student ID Number
Course Title and Number
Graded Project Number (the six-digit number found on your student portal)
The paper will contain three parts:
An Introduction
The Main Body
A Summary or Conclusion
Your paper must be a minimum of five pages in length, including a Works Cited page.
The submission will be double-spaced, in a standard print font of size 12. Use a standard document format with 1-inch margins. Do not use any fancy or cursive fonts.
Be sure to use correct grammar, punctuation, and spelling. Use the tools available in Word or other software programs such as Grammarly to check and correct the English Composition.
Citing Your Work:
A minimum of five citations is required.
When it comes to citing source material that isn’t your own, there are two parts to a citation. The first one is the in-text citation and the second one is the citation presented on the Works Cited page itself.
Improperly formatted citations, or missing either of the two parts of citations, constitutes Plagiarism and results in a failing grade of 1.
The citations must follow APA formatting.
If you don’t remember how to make a properly formatted APA citation, go to the Purdue OWL (Online Writing Lab) website by following these steps:
Do a search on the Internet for Purdue OWL and go to the homepage.
In the menu on the left, click on Research and Citation.
From the drop-down menu, click on APA Style.
Click on APA Formatting and Style Guide.
Select Reference List: Electronic Resources.
Alternatively, go to Penn Fosters Writers Block, or call and speak with an English instructor to refresh your memory on how to make a proper citation.
Writing Steps
To write your paper, follow these suggested steps:
Step 1
Select a foreign currency you want to analyze versus the U. S. Dollar. Find the FX ticker symbol for the currency.
Step 2
Perform your research. Go to a website such as www.xe.com or Bloomberg that has charting capabilities for the currency selected versus the US Dollar. Even a search in Google for the name of the currency exchange rate (such as searching China currency exchange rate) can be done to view a chart.
Decide on a five-year period that you’ll want to analyze. Record the currency exchange rate over the five years showing the significant points in time such as:
The starting point for the five-year period
The high points
The low points
Any relatively major ups and downs in the exchange rate
The ending point for the five-year period
Be sure to save the web address, as it will be used as one of the citations required later on in your Works Cited page.
Step 3
Once you have the exchange rates for the five-year period, research to formulate an opinion as to why the exchange rate fluctuated over that period.
Using your knowledge of Macroeconomics, research the economics of the country selected (such as GDP figures, supply/demand, housing, and labor, just to name a few of the economic concepts that you’ve learned about) and the events (such as political events, natural or unnatural disaster events, war events) that had an effect on the economy of the country.
Do the same research for the economics of the United States during that five-year period.
Step 4
Write a first draft of your paper following the guidelines presented above.
The introduction should include what the paper is about, the currency selected, and a table listing the currency exchange rates as of specific dates for the country selected versus the U.S. dollar. This table should have an in-text citation and a properly formatted citation on the Works Cited page so that these figures can be verified based upon the citation presented. Work, facts, figures, and any other elements that aren’t your own must be properly cited; otherwise, this is plagiarism and will warrant a grade of 1. This introduction should be one or two paragraphs at most and include the table.
The main body of the paper will present your opinion as to why the currency exchange rate fluctuated over the five-year period. You must support your opinion with at least four in-text citations and include these citations, properly formatted, on the Works Cited page.
The economic analysis needs to include both sides of the currency exchange rate. There can be no exchange rate if there’s only one side (one country). Therefore, the analysis must include the selected currency and the U.S. dollar.
For this analysis, you’re being asked to provide a minimum of four pages as a summary of your opinion.
The parts of the paper should include:
The introduction which states what the paper is about and includes a table with the exchange rates over the selected five-year period listed.
The main body of the paper which discusses both economies providing an opinion as to why the exchange rate fluctuated and include in-text citations to show support for that opinion. Remember the in-text citations also need to be included on a Works Cited page.
The summary or conclusion, which is a summary of what was presented in the introduction and main body of the paper. It should only be one or two paragraphs in length.
Remember: Follow the writing guidelines, use 12pt font, double spacing, and the analysis needs to be a minimum of four pages.
Step 5
Create a Works Cited page following APA guidelines as stated above. Not having correct in-text citations or properly formatted citations is Plagiarism and warrants a grade of 1.
Step 6
Proofread the draft getting ready for its submission. Put it away for a day or two and then come back to it. Good writing is about rewriting. Be sure to grammar check and spell check the paper. There is no excuse for having these types of mistakes.
Step 7
When ready, submit your paper following the instructions for submitting your project.
Grading Criteria
Your project will be evaluated according to the following criteria:
Introduction 20 percent
Main Body (Analysis) 50 percent
Summary or Conclusion 10 percent
Written Communication 10 percent
Format 10 percent
Introduction
Provides one or two paragraphs for an Introduction which also includes a table with the currency exchange rates for a consecutive five-year period
Main Body (Analysis)
Provides an economic analysis for the currency selected
Provides an economic analysis for the US Dollar
Provides an opinion based upon the economic analysis of the two currencies as to why the exchange rate fluctuated during the five-year period
Provides at least four valid citations to support the opinion stated
The economic analysis is a minimum of four pages in length
Summary or Conclusion
Provides a clear summary or conclusion restating the analysis in one or two paragraphs
Written Communication
Uses correct grammar, spelling, punctuation, and sentence structure
Provides clear organization and transitional words when necessary (such as first, however, on the other hand, consequently, since, next, and when)
No typographical errors
Provides in-text citations and includes citations on a Works Cited page
Provides a minimum of four citations
The paper is a minimum of five pages in length
Format
Double-spaced
12pt font
APA format
Properly formatted citations and Works Cited page using APA guidelines
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