1. Discuss the role of any financial flow (aid, development funding or remittances) in economic development of the Pacific economies. Can these economies manage without support such support - if yes, how?
2. Explain how monetary policy could respond to COVID-19 pandemic. Should the central bank fail to respond, what would be the likely consequences on real income, interest rate, exchange rate and trade balance in any economy of the Pacific?
3. Discuss the validity of implementing monetary policy by rule. Identify the major implications of the Taylor Rule and explain its practical application to any developed economy. Explain why discretion could be useful (at times).
4. Identify why financial market efficiency and stability are important in developing countries. What are the monetary policy lessons from the last GFC that can help Central Banks better design monetary policy frameworks which support efficiency and stability?