Students are required to address three parts in the main body of this essay and content details are as blow:
1. Summaries the history of the exchange rate regime of a particular country;
2. Discuss three relationships that describe the behavior of exchange rate (CIP, PPP, IFE);
3. Estimate the PPP between a particular country and the US. (Students need to collect monthly data for not less than 5 years to complete this part of the essay).
