Discuss the merits and drawbacks associated with an independent central bank?

Discuss the merits and drawbacks associated with an independent central bank?

no more than 1800 words

Where relevant support your arguments with economic theory and academic journal articles.

try to associated with what module is teaching.
the module topics:
LECTURE 1: Empirical Evidence on Money, Prices, and Output and a Macro Theory Review
LECTURE 2: DSGE Models for Monetary policy
LECTURE 3: Nominal Rigidities, Monopolistic Competition and the New Keynesian Model
LECTURE 4: Monetary Policy Analysis in New Keynesian Models
LECTURE 5: Open Economy and Monetary Unions
LECTURES 6-7: Independent Central Banks – The Barro Gordon Model (Discretion VS Commitment)
LECTURE 8: Inflation Targeting
LECTURE 9: The Financial Crisis and Macro prudential Policy
LECTURE 10: Money Creation and Quantitative Easing

Discuss the merits and drawbacks associated with an independent central bank?

Discuss the merits and drawbacks associated with an independent central bank?

no more than 1800 words

Where relevant support your arguments with economic theory and academic journal articles.

try to associated with what module is teaching.
the module topics:
LECTURE 1: Empirical Evidence on Money, Prices, and Output and a Macro Theory Review
LECTURE 2: DSGE Models for Monetary policy
LECTURE 3: Nominal Rigidities, Monopolistic Competition and the New Keynesian Model
LECTURE 4: Monetary Policy Analysis in New Keynesian Models
LECTURE 5: Open Economy and Monetary Unions
LECTURES 6-7: Independent Central Banks – The Barro Gordon Model (Discretion VS Commitment)
LECTURE 8: Inflation Targeting
LECTURE 9: The Financial Crisis and Macro prudential Policy
LECTURE 10: Money Creation and Quantitative Easing