Distinguished - Comprehensively answers the question of how monetary policy affects the macroeconomy. Utilizes examples and scholarly research to support the response.

Proficient - Answers the question of how monetary policy affects the macroeconomy. Utilizes examples and scholarly research to support the response. The response is slightly underdeveloped.

Basic - Briefly answers the question of how monetary policy affects the macroeconomy. Utilizes some examples and scholarly research to support the response. The response is somewhat underdeveloped.

Below Expectations - Attempts to answer the question of how monetary policy affects the macreconomy; however, the answer is vague and does not sufficiently utilize examples and scholarly research to support the response. The response is significantly underdeveloped.

Non-Performance - The answer of how monetary policy affects the macroeconomy is either nonexistent or lacks the components described in the assignment instructions.

Distinguished - Comprehensively explains why changes in the money supply have effects on the economy and the monetary transmissions mechanism. Accurately explains why money supply change has those effects.

Proficient - Explains why changes in the money supply have effects on the economy and the monetary transmissions mechanism. Explain why money supply change has those effects.

Basic - Briefly explains why changes in the money supply have effects on the economy and the monetary transmissions mechanism and minimally explains why money supply change has those effects.

Below Expectations - Insufficiently explains why changes in the money supply have effects on the economy and the monetary transmissions mechanism and/or does not adequately explain why money supply change has those effects.

Non-Performance - The explanation of why changes in the money supply have effects on the economy and the monetary transmissions mechanism is either nonexistent or lacks the components described in the assignment instructions.

Distinguished - Comprehensively and accurately explains how monetary policy can be used to effectively stabilize output and smooth business cycles. Fully integrates course concepts and scholarly research in the explanation.

Proficient - Accurately explains how monetary policy can be used to effectively stabilize output and smooth business cycles. Mostly integrates course concepts and scholarly research in the explanation. Minor details are missing.

Basic - Explains how monetary policy can be used to effectively stabilize output and smooth business cycles. Somewhat integrates course concepts and scholarly research in the explanation. Relevant details are missing or are inaccurate.

Below Expectations - Attempts to explain how monetary policy can be used to effectively stabilize output and smooth business cycles; however, the explanation does not appropriately integrate course concepts and scholarly research. Significant relevant details are missing and/or inaccurate.

Non-Performance - The explanation of how monetary policy can be used to effectively stabilize output and smooth business cycles is either nonexistent or lacks the components described in the assignment instructions.

Distinguished - Thoroughly evaluates the role of monetary policy and its effect on the macroeconomy. Effectively integrates the implications of the financial accelerator into the evaluation.

Proficient - Evaluates the role of monetary policy and its effect on the macroeconomy. Mostly integrates the implications of the financial accelerator into the evaluation.

Basic - Generally evaluates the role of monetary policy and its effect on the macroeconomy. Minimally integrates the implications of the financial accelerator into the evaluation.

Below Expectations - Minimally evaluates the role of monetary policy, and may not address its effects on the macroeconomy. Does not adequately integrate implications of the financial accelerator into the evaluation.

Non-Performance - The evaluation of monetary policy and its effects on the macroeconomy given the implications of the financial accelerator is either nonexistent or lacks the components described in the assignment instructions.

Distinguished - Distinguishes probable implications of the text for contexts, perspectives, or issues outside the assigned task or beyond the author’s explicit message.

Proficient - Uses the text, general background understanding, and/or specific knowledge of the author’s context to draw more intricate inferences about the author’s message and approach.

Basic - Considers how textual features (e.g., sentence and paragraph structure or tone) contribute to the author’s message; draws fundamental inferences about context and rationale of text.

Below Expectations - Inadequately captures vocabulary and makes an effort to paraphrase or summarize the information the text communicates.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.

Distinguished - Demonstrates consistent use of reliable, appropriate sources and/or evidence to support ideas that are situated within the discipline and genre of the writing.

Proficient - Demonstrates mostly consistent use of reliable sources that are appropriate to the discipline and genre of the writing. Sources offer some support to the ideas in the writing.

Basic - Demonstrates somewhat inconsistent use of sources that are mostly reliable to the discipline and genre of the writing. Sources offer very little support to the ideas in the writing.

Below Expectations - Inconsistently utilizes sources and/or evidence in the writing. Such sources/evidence may also be unrelated, offering no support to the ideas in the writing.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.

Distinguished - Clearly and comprehensively explains in detail the issue to be considered, delivering all relevant information necessary for a full understanding.

Proficient - Clearly explains in detail the issue to be considered, delivering enough relevant information for an adequate understanding.

Basic - Briefly recognizes the issue to be considered, delivering minimal information for a basic understanding.

Below Expectations - Briefly recognizes the issue to be considered, but may not deliver additional information necessary for a basic understanding.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.

Distinguished - Displays meticulous comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains no errors, and is very easy to understand.

Proficient - Displays comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains only a few minor errors, and is mostly easy to understand.

Basic - Displays basic comprehension of syntax and mechanics, such as spelling and grammar. Written work contains a few errors, which may slightly distract the reader.

Below Expectations - Fails to display basic comprehension of syntax or mechanics, such as spelling and grammar. Written work contains major errors, which distract the reader.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.

Distinguished - Accurately uses APA formatting consistently throughout the paper, title page, and reference page.

Proficient - Exhibits APA formatting throughout the paper. However, layout contains a few minor errors.

Basic - Exhibits basic knowledge of APA formatting throughout the paper. However, layout does not meet all APA requirements.

Below Expectations - Fails to exhibit basic knowledge of APA formatting. There are frequent errors, making the layout difficult to distinguish as APA.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.

Distinguished - The paper meets the specific page requirement stipulated in the assignment description.

Proficient - The paper closely meets the page requirement stipulated in the assignment description.

Basic - The paper meets over half of the page requirement stipulated in the assignment description.

Below Expectations - A fraction of the page requirement is completed.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.

Distinguished - Uses more than the required number of scholarly sources, providing compelling evidence to support ideas. All sources on the reference page are used and cited correctly within the body of the assignment.

Proficient - Uses more than the required number of scholarly sources, providing compelling evidence to support ideas. All sources on the reference page are used and cited correctly within the body of the assignment.

Basic - Uses less than the required number of sources to support ideas. Some sources may not be scholarly. Most sources on the reference page are used within the body of the assignment. Citations may not be formatted correctly.

Below Expectations - Uses inadequate number of sources that provide little or no support for ideas. Sources used may not be scholarly. Most sources on the reference page are not used within the body of the assignment. Citations are not formatted correctly.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.