Answer

Instructions from professor:

You will write a literature review of a topic of your choosing related to our course material.  Your literature review is an organized and synthesized summary of a number of academic articles (6 to 10 articles) relating to your topic.  A literature review should not summarize each article separately but find common themes throughout the articles, identify areas of controversy, and possibly, formulate questions that need further research.  You are building an account of what has been published by researchers.  For example, suppose your topic is the pros and cons of inflation targeting.  You might find several articles on the success/failure of inflation targeting, some on the differences in implementation of inflation targeting in the U.S. and Europe, and a few theoretical papers on the optimality of inflation targeting as a monetary policy regime.  The literature review might be divided into these sections with the use of sub-headings.

Topic of choosing: Please write the paper based on the topic description below.

In the 21st century cryptocurrency has been able to gain relevance through the emergence of Bitcoin, and since then numerous other alternative currencies have entered the market. I find cryptocurrency interesting due to its price volatility, and ridiculous returns of up to 700% for some investors. Today, a “meme cryptocurrency,” Dogecoin, saw its price jump 77%. As the world is becoming increasingly digitized, I’m interested in finding out if cryptocurrency has the potential to take over fiat currency. I plan on answering this question by discussing the purposes of money and examining if cryptocurrency fits the definition. I will also provide advantages or disadvantages of operating under a cryptocurrency system and determine if it is preferable to the current fiat currency system. Ultimately, by completing a comparative study of fiat currency and cryptocurrency, I will be able to determine if cryptocurrency is truly the future. Read the Jumde and Cho paper on cryptocurrency as background reading.

Research:

Use academic journals, NBER working papers, and the Federal Reserve’s website.

The ideal paper will be 8 to 10 pages excluding cover page and bibliography.

FORMAT:  Paper must be double-spaced with 12-point font and 1-inch margins.