Budgets and capital facilities plans
These address the allocation _ scarce financial resources _ achieve the community’s vision, accomplish goals and objectives, implement the comprehensive plan, and provide services. The budget is considered one _ the strongest policy-making tools. It defines the spending and service priorities for numerous other policy decisions. There is rarely enough money to do all the things that a community desires. Thus, budgets and capital facilities plans must prioritize. What gets funded? _what order? What does not get funded? How much will be spent to provide desired services? Long-term financial plan projections (5 _ 6 years ahead) often help reveal some _ the costs or consequences of seemingly "inexpensive" short-term policy decisions. The allocation of resources _ competing needs is an important exercise _ setting local policy. Deciding what not to do is also an important part _ policy-making.
Make up a dialogue between two representatives of the Cabinet. Discuss the importance of decision-making of bills. Give as many arguments and examples as possible.
13. Prepare a report in the form of a presentation on one of the following topics:
1.New approaches to the development and adoption of government decisions.
2.Stages of development and adoption of managerial decisions.
3.Technology for the development of managerial decisions.
4.Adoption and implementation of government decisions.
5.Stages of the process of development, adoption, implementation of managerial decisions by the authorities.
Writing
Fill in the table. Search the Internet for explanations the Stages in Decision Making. Be ready to comment upon the found information.
| Stages in Decision Making | Explanation |
| Define the situation | |
| Generate alternatives | |
| Information gathering | |
| Selection | |
| Action |
Write the summary of the text (250 words). Use the active vocabulary of the unit.
To write a summary, use your own words to express briefly the main idea and relevant details of the piece you have read. What was it about and what did the author want to communicate?
Translate into English.
1.Все правительственные законопроекты проходят через палату общин и лордов.
2.Процесс принятия решений в Кабинете министров - это когда все в Кабинете министров чувствуют себя достаточно уверенно, чтобы внести свой вклад в проблему.
3.Окончательное решение будет таким, как считает большинство членов Кабинета министров.
4.Все члены должны чувствовать себя частью процесса.
5.Кто вносит свой вклад в правительственные решения?
6.Премьер-министр может отменить решение кабинета большинства даже после всестороннего обсуждения в рамках своих полномочий.
7.Палата лордов комментирует и голосует по правительственным законопроектам.
8.Люди из ближайшего окружения премьер-министра могут включать несколько членов в Кабинет министров, неизбранных государственных служащих и т. д.
9.Советники должны быть беспристрастными, объективными, свободными от предвзятости и действовать в общественных интересах своего местного самоуправления.
10.Решения, принятые на заседаниях, регистрируются в форме резолюций.
SOURCES FOR FURTHER RESEARCH
· http://www.decision-making-confidence.com/stages-in-decision-making.html
· http://homepages.which.net/~gk.sherman/caaaaaa.htm
· http://dilgp.qld.gov.au/council-meetings/decision-making-by-local-governments.html
· https://www.theguardian.com/local-government-network/2013/mar/05/local-government-committee-system
· http://www.mondaq.com/x/95044/Government+Statutory+Law/Public+Sector+Decision+Making
UNIT 4
Monetary Policy
Lead-in
Discuss the questions in pairs. Reason your opinion..
1. What authority has to maintain monetary policy?
2. What do you know about money supply?
3. What part do you think central bank plays?
4. What do you know about ways the monetary policy affects inflation and unemployment?
Topical Vocabulary
a) Study the vocabulary list. Use the words and phrases in the sentences of your own.
1. benchmark (n) – исходный пункт
2. bond (n) - облигация
government bonds – государственные облигации
short-term government bonds – краткосрочные государственные облигации
3. boost (v)- поднимать, способствовать развитию, повышению
4. borrow (v) – брать взаймы, заимствовать
borrowing - заимствования
government borrowing – государственные заимствования
5. break (n) – перерыв, разрыв
break down – ломать, разрушать, анализировать
6. charge (n) – обязанность, ответственность
to be in charge of smth – быть ответственным за что-то
7. contractionary (adj)– сдерживающий
contractionary policy – сдерживающая монетарная политика государства
8. conventional (adj) – обычный, стандартный, традиционный
unconventional monetary policy – нетрадиционная, нестандартная монетарная политика, например, политика количественного смещения
9. credit easing – кредитное смягчение (инструмент монетарной политики)
10. curb (v)- сдерживать
syn. rein, restrain
11. damper (n) – демпфер, пороговое значение безопасного риска для экономики
12. deposit (n) – вклад, депозит
13. essence (n) – сущность
in essence – по сути
14. expansionary ( adj) – экспансионистский, направленный на расширение и подъем
expansionary policy – стимулирующая монетарная политика государства
15. fiscal policy – финансово-бюджетная политика, налоговая политика
16. hike (n) – подъем, повышение
syn. climb, rise
17. load (v)– заполнять, загружать
18. lose money in real terms – потерять деньги с учетом инфляции
19. lend (v)– выдавать кредиты
lending - кредитование
20. liquidity (n) – ликвидность (свойство активов быть быстро проданными)
21. monetary policy – кредитно-денежная политика, валютная политика
22. outright (adj)– прямой, открытый
outright (adv) – прямо, открыто
23. rein (v)– управлять, сдерживать
syn. manage, curb
24. reserve requirements – нормативные резервы, резервы на возможные потери по ссудам
25. securities (n) – ценные бумаги
mortgage-backed securities – ценные бумаги, обеспеченные закладной
securities market – рынок ценных бумаг
26. separation (n) – разделение, отделение
27. stocks (n) – акции
stocks and shares – акции и облигации
stocks and assets – акции и другие активы
28. take on (v)– приобретать
syn. purchase, acquire
29. Treasury notes – казначейские билеты, вид государственных ценных бумаг
30. vault (n) – хранилище
31. quantitative easing – количественное смягчение (инструмент монетарной политики)
32. yield [jiːld] (n) – доходность
average bond yield – средняя доходность по облигации
syn. income, revenue, profit
b) Fill in the gaps using the words from the Topical Vocabulary.
1)Like so many companies at that time, we had to ____ heavily to survive.
2)You ____20 percent now and pay the rest when the car is delivered.
3)I invested some money in savings _____.
4)The bank refuses to ____ to students.
5)You can _____ in your own tongue by closing your mouth
6)The business no longer has sufficient _____ to meet its operational needs.
7)______ are tradable financial asset.
8)She buys and sells _____ and shares.
9)In finance, the term ___describes the amount in cash (in percentage terms) that returns to the owners.
10)A ____is a secure room in a bank in which valuables are stored.
c) Fill in the table. Use 5-7 words to compose stories of your own.
| VERB | NOUN | ADJECTIVE | ADVERB |
| separate | |||
| yield | |||
| secure | |||
| quantitatively | |||
| rein | |||
| liquidity | |||
| outright | |||
| fiscally | |||
| expand | |||
d) Fill in the gaps using the word combinations from the Topical Vocabulary.
1)Through ______, regulators attempt to improve unemployment rates, control inflation, stabilize business cycles.
2)______ is maintained through actions such as modifying the interest rate, buying or selling government bonds….
3)A campaign promise to ____ that will help the poor
4)Reducing ________ eases credit conditions.
5)The US Treasury bond market is by far the single biggest _______ in the world.
6)Comments by the Federal Reserve Chairman caused prices of short-term ____ to fall.
7)Government ____ of nearly 8% look highly attractive
8)An ____ is a macroeconomic policy that seeks to expand the money supply
9)Policy tools used by central banks to make credit more readily available are _________.
10)_______ refers to a reduction in government spending.
2. a) Match idioms and their meanings.
| 1)back on one`s feet 2)bet on the wrong horse 3)bottom dollar 4)bottom line 5)buy (something) for a song 6)cash-and-carry 7) to be caught short | a)one`s last dollar b)the line in a financial statement that shows net income or loss c)to buy something cheaply d)to return to good financial health e)selling something for cash only and with no delivery f)don’t have enough money when you need it g) to base one`s plans on a wrong guess about the results of something |
b) Fill in the gaps using the idioms above:
1)The man spent his _____ on some new clothes to wear for his job interview.
2)We ________ if we continue to support the other candidate for mayor.
3)My sister is ______ after losing her job last year.
4)I was able to ___my first house ____.
5)We were able to get a good price on a sofa in a __ deal at the furniture store.
6) I was _____ and had to borrow some money from my father last week.
7) The _____ was that we were unable to attend the conference because of our busy schedule