Either1) Define monetary policym and discuss the opeation of monetary policy in

Either1) Define monetary policym and discuss the opeation of monetary policy in United States post GFC.OR2) Given the rise of China relative to the United States post-GFC to what extent do you think that the yuan should replace the US dollar as the dominant currency in the global financial system?Criteria:Word count: 2500 words excluding bibliography but inclusive of any in-text reference with a 10%tolerance anything over this will not be marked.Referencing: At least 6 reference sources should be noted.* Allow a 5cm margin on the right hand side of page for comments at least 12 pt font to be used.