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ENGLEZA DE AFACERI
II. Find words in the text that have the same meaning as the following ones:
To warrant; hard-working; avaricious; thoroughly; well-known; to benefit; wisely; to put
aside; income; characteristic; to provide;
A.: Pronumele i adjectivele nehotrte some; any, no, every i compuii lor
Any- orice, oricare Some- ceva, nite, civa, Any- nici un, nici o, nici un
cteva fel de
1. Adam Smith published his most famous book An Inquiry into the Nature and
Causes of the Wealth of Nations, in 1776.
2. Smith was the first great classical economist.
UNIT 7: INFLATION
I. Reading session:
Will inflation remain one of the most intractable problems confronting societies in
transition from centralized to free market economies? It will be, however, a challenge that
such societies must meet if they are to enjoy the material benefits that a market economy
can provide.
Inflation is an increase in the average price level of the goods and services
produced and sold in an economy. Inflation typically occurs in a market economy for on
of two reasons: either people increase their spending faster than producers are able to
increase the supply of the goods and services; or there is a decrease in the supply of
goods and services to consumers and/or producers, which drives up prices. Inflation has
sometimes been described as an increasing amount of money chasing a shrinking number
of goods.
Inflation hits economies in transition hard because price liberalization the
removal of government control of prices is an essential step towards a market economy.
The initial result of such price liberalization is predictable a wave of price increases for
goods that were in chronic short supply. Why? Because the government held their prices
artificially low, so demand perennially outstripped supply, or because of other economic
distortions and inefficiencies created by government decision-makers. In addition, if
people are holding large amounts of money at the time of this transition (since there was
little of value to buy) the pressure of inflation can be even greater.
Nevertheless, the rewards of enduring the inevitable bout of inflation during this
transitional period are substantial. Unfettered by government, the market mechanisms of
supply and demand will begin to function. High prices signal strong demands and the
market, albeit slowly and haltingly at first, responds with increased production. Peoples
money may have lost value, but what money they have is now real and consumers can
buy the goods that are beginning to appear in stores. With supply increasing, prices
stabilize and queues begin to disappear as consumers realize that more and varied
products will continue to be available for sale.
Entrepreneurs and investors eager to benefit from the new economic freedom are
going to start new business and compete to provide goods and services. Thus more jobs
will be created while prices will moderate further.
The key element in this transition is for the government to relinquish its role in
setting prices and permit the market forces of supply and demand to establish prices for
virtually all goods and services. When such a free market is established, inflation may
persist, but it is a far more manageable and less threatening problem than in the early,
hard days of economic transition.
(What is Market economy, USIS, 1992)
MONETARY POLICY
Monetary policy is how the government tries to improve the countrys economy
by using banks and money, acting on the level of deposits and loans, and on interest rates
and exchange rates.
As well as keeping inflation low, a government will seek to keep unemployment
low and output rising. However, it cannot do all three things at the same time. For
instance, if it is very successful in lowering unemployment, the shortages of workers may
cause wages to rise, as employers bid for more employees. The workers will spend their
increased wages in the shops and this may cause prices to rise thereby causing inflation
to rise.
A government may have to choose therefore between these aims or goals. Mrs.
Thatchers government (in office between1979 1990) chose the reduction of inflation as
the goal which should be given the utmost priority. Unemployment, economic growth and
the enormous gap between exports and imports were not considered so important.
(Banking: The Business, Pitman, 1990,
pp.27-28)
II. Answer the following three questions based on what you have just read.
What is inflation?
What causes inflation?
What is meant by monetary policy?
B. Be going to:
Use:
a) for plans, intentions or ambitions.
e.g. Im going to buy a sports car.
b) in predictions when there is evidence that something will happen in the near
future.
e.g. Someones going to fall over that box if you dont move it.
C. To be about to
Use:
a) in reference to the immediate future
e.g. he is about to be elected president of the merged company.
D. To be to
Use:
a) for a previous arrangement
e.g. Mother is to arrive tomorrow.
F. Present Tense Continuous: for a future event which is planned by the speaker (the
decision is all his/hers)
e.g. I am flying to London in order to attend the matches of the national football team.
G. Future Continuous:
Use:
a) for actions which will be in progress at a stated future time.
e.g. This time next week hell be flying to Morocco.
I. Reading session:
How do mangers occupy their time? Do they really have two our lunch breaks,
get to go in style to all the major talks, conventions and sales meetings and play tennis at
least on afternooon a week? Well, a few do, but most do not.
Actually, it is difficult to say exactly what managers do because management is a
diverse job. But besides performing technical functions they also plan work schedules,
organize resources, control performance and make managerial decision. Managers must
be skilled at geeting work done through others. At all times they must be concerned about
the effective use of human and non-human resources.
Individuals pursuing management careers move up in the organization in several
different ways. The most popular patttern is the path of progressive responsiblity. While it
is true that not everyone achieves or desires progressive level of responsibility, the
following criteria were selected for rating individuals as managers.
Leadership means effectiveness in getting ideas accepted in guiding a group or an
individual to accomplish a task.
Judgement is defined like ability to reach sound, logical conclusions based on the
information at hand.
Accountability Fulfillment is nothing else but the ability to fulfill overall
performance accountabilities as shown on the job description.
Organization and Planning means effectiveness in arranging own activities and
those of a group so as to provide effective courses of action.
Use of delegation- is the ability to involve others efficiently and to understand
where a decision can be made.
Initiative- means actively influencing events rather than passively acceting acts
without specific instructions within the scope of the assigned accountabilities.
Deciseveness is readiness to make decisions or to render propr judgements.
Ability to use problem solving process.
Professional competence (expertise) The manager must have a firm grasp of
fundamental principles and concepts in his/her profession. He can make god value
judgments and also knows sources for new information and keeps it up-to date.
Problem analysis actually is effectiveness in seeking out pertinent data in
determining the cause of the problems.
Although the tasks of a manager can be analysed and classified in this fashion,
management is not entirely scientific. It is human skill. Business professors obviously
believe that intuition and nstinct are not enough; there are management skills that have to
be learnt. Peter Drucker, for example, wrote over 20 years ago that Altogether this entire
book is based on the proposition that the days of the intuitivemanager are numbered,
meaning that they were coming to an end. But some people are clearly good at
managemet, and others are not.
Are you a good manager? Write a brief profile of yourself (approximately five lines),
outlining yor personal qualities and highlighting any strengths and weaknesses you feel
ou have. Use the lists below.
A. Comparaia sintetic:
Adjective monosilabice: small smaller- smallest
Short shorter - shortest
Probleme de ortografie:
1) Adjectivele terminate ntr-o consoan precedat de vocal scurt dubleaz consoana:
big- bigger- the biggest; hot- hotter- the hottest; fat- fatter- the fattest;
Excepii: eager, proper, fertile, hostile, fragile se compara n mod analitic. De asemenea
adjectivele bisilabice terminate n doua consoane: correct, distinct, exact, intact, etc
formeaz comparativul i superlativul numai cu more i the most.
B. Comparaia analitic: Adjectivele formate din dou sau mai multe silabe formeaz
comparativul i superlativul analitic cu ajutorul lui more i the most.
a) cnd primul element este un adjectiv care i pstreaz sensul, acesta se schimb la
comparativ i superlativ:
b) cnd cele dou elemente formeaz un tot din punct de vedere al sensului, comparaia
se realizeaz cu more i the most:
BIBLIOGRAPHY: