In July 1944, 730 delegates – financial specialists and bankers – from the 44 allied nations, met at Bretton Woods, New Hampshire to discuss what the post-World War 2 monetary system would be and to rebuild the international economic system. The outcome of this meeting was the Bretton Woods system, which made the U.S. dollar as the world’s reserve currency linked to gold at $35 an ounce. For this assignment, you will trace several major international economic events beginning with the aftermath of World War 2 and ending with the current time. In your discussion, describe each event and its lasting impact on the world economy, particularly how it affected international monetary relations. Prior to beginning work on this assignment, read The Case Study: Bretton Woods on pages 31-32 of Chapter 2 in the Gerber (2017) text. Then, respond to the following components:
Evaluate the Bretton Woods decision of 1944. Include a discussion about what happened to the Gold Standard at this conference.
Assess the 1971 lift of the pegged status of world currencies. Explain the end of the Bretton Woods system and its effects on international monetary relations.
Analyze the 1973 oil embargo. Discuss the various causes of the oil embargo and how it relates to the ending of the Bretton Woods system.
Evaluate the 2008 oil crisis. Discuss the economic causes of the oil crisis and its effects on the global economy, many of which continued until later years.
The Bretton Woods System paper
Must be three to four double-spaced pages in length (not including title and references pages) and formatted according to the Ashford Writing Center (Links to an external site.)‘s APA Style (Links to an external site.)
Must include a separate title page with the following:
Title of paper
Course name and number
For further assistance with the formatting and the title page, refer to APA Formatting for Word 2013 (Links to an external site.).
Must utilize academic voice. See the Academic Voice (Links to an external site.) resource for additional guidance.
Must include an introduction and conclusion paragraph. Your introduction paragraph needs to end with a clear thesis statement that indicates the purpose of your paper.
For assistance on writing Introductions & Conclusions (Links to an external site.) as well as Writing a Thesis Statement (Links to an external site.), refer to the Ashford Writing Center resources.
Must use at least three scholarly, peer-reviewed, and/or other credible sources in addition to the course text.
The Scholarly, Peer Reviewed, and Other Credible Sources (Links to an external site.) table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment.
Must document all sources in APA style as outlined in the Ashford Writing Center’s Citing Within Your Paper (Links to an external site.)
Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center. See the Formatting Your References List (Links to an external site.) resource in the Ashford Writing Center for specifications.