Shadowing Practice: Monetary vs Fiscal Policy Explained | PART 1 | Think Econ - Learn English Speaking with Video

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Hey everyone and welcome back to the channel.

In this video we'll be looking at the biggest differences between monetary and fiscal policy.

With that said let's get into it.

So when looking at policy there's two main types that we talk about.

We talk about fiscal policy and monetary policy

and there's five main differences between them that we're going to be highlighting in this video very briefly.

Firstly for fiscal policy it's controlled by the government

so these are governmental decisions and monetary policy is actually controlled by the central bank

so depending on which nation you're in that may be a different party

but in canada that's the bank of canada in the united states the federal reserve

and so on and so forth each country has a related central bank

and that central bank implements monetary policy whereas their government implements fiscal policy the second big difference is

that fiscal policy takes place by changing taxation

and government spending whereas monetary policy takes place by changing the interest rate

so the key drivers in these two policies are very different things again one taxation

and government spending is controlled by the government

and the interest rate is set by the central bank the third difference is

that the main goals of fiscal policy are full employment

and economic growth

while the main goals of monetary policy is to manage inflation once again you might notice trend full employment

and economic growth are very government heavy goals

and managing inflation is the biggest cause for changing the interest rate in the first place

so a very central bank -oriented goal as well.

The fourth difference is that fiscal policy looks at the supply side

and monetary policy looks at the demand side of an economy.

So on the supply side think of investment and production and on the demand side think of consumption and retail investment.

So finally this last one which is pretty intuitive is

that fiscal policy inevitably takes longer and

that monetary policy is just faster to implement

and the reason for this once again is primarily due to who runs the show.

The government runs the show for fiscal policy and that takes legislation

and lots of red tape to get through versus monetary policy

which is done by the central bank is pretty immediate when

that overnight interest rate changes the banks and other financial institutions react very quickly

and then that very quickly gets reflected to the general public

and it hits its goals much faster now sometimes fiscal policy

and monetary policy work together and sometimes they actually conflict one another

and we'll talk about

that in a different video in this video we just want to highlight the five main differences between them

if you found this video helpful let us know by liking

the video subscribing to the channel of course let us know in the comments section what sort of economic topics

or homework questions you'd like to see us cover in the future.

Thanks for watching this video and we'll catch you in the next.

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Vocabulary and speaking notes for this lesson

This speaking lesson is built on the video “Monetary vs Fiscal Policy Explained”. The speaker keeps coming back to these words: policy, monetary, fiscal, bank, difference. This video has 43 sentences and 519 words to shadow. The speech runs for 2:29. The speaker talks fast, about 209 words per minute, so expect linked and reduced sounds. 89% of the words are among the 3,000 most common in English, so the vocabulary is easy to follow.

Key vocabulary in this video

15 words from the video worth learning, with pronunciation and meaning:

Word	Pronunciation	Meaning
fiscal adjective	/ˈfɪskəl/	Related to the treasury of a country, company, region or city, particularly to government spending and revenue.
monetary adjective	/ˈmʌnɪtəɹi/	Of, pertaining to, or consisting of money.
implement verb	/ˈɪmpləmənt/	To bring about; to put into practice; to carry out.
whereas	/(h)wɛɹˈæz/	In contrast; whilst on the contrary; although.
highlight verb	/ˈhaɪˌlaɪt/	To make prominent; emphasize.
inflation noun	/ɪnˈfleɪ.ʃən/	An act, instance of, or state of expansion or increase in size, especially by injection of a gas or liquid.
taxation noun	/tækˈseɪ.ʃən/	The act of imposing taxes and the fact of being taxed.
topic noun	/ˈtɑpɪk/	A subject; a theme; a category or general area of interest.
primarily adverb	/ˈpɹaɪ.mə.ɹə.li/	Of a primary or central nature, first and foremost.
tape noun	/teɪ̯p/	Flexible material in a roll with a sticky surface on one or both sides; adhesive tape.
helpful adjective	/ˈhɛlp.fl̩/	Furnishing help; giving aid; useful.
institution noun	/ˌɪn.stɪˈtʃuː.ʃən/	A long-established organization or type of organization, particularly one involved with education, public service, or charity work.
reflect verb	/ɹɪˈflɛkt/	To bend back (light, etc.) from a surface.
consumption noun	/kənˈsʌmp.ʃən/	The act of eating, drinking or using.
versus	/ˈvɝsəs/	Against; in opposition to.

Phrasal verbs you will hear

Word	Pronunciation	Meaning
get through verb	/ɡɛt ˈθɹu/	To overcome; to endure.
work together verb		To be coworkers with someone; to share a workspace with someone.

Pronunciation to watch

The speaker uses 6 contractions and reduced forms, such as we'll, we're, you'd. Say them the short way, as you hear them.

The “sh” and “zh” sounds: inflation /ɪnˈfleɪ.ʃən/, taxation /tækˈseɪ.ʃən/, institution /ˌɪn.stɪˈtʃuː.ʃən/, consumption /kənˈsʌmp.ʃən/
Long words — get the stress right: monetary /ˈmʌnɪtəɹi/, primarily /ˈpɹaɪ.mə.ɹə.li/, institution /ˌɪn.stɪˈtʃuː.ʃən/, inevitably /ɪˈnɛvɪtəbli/, governmental /ˌɡʌvɚnˈmɛnt(ə)l/

How to practise with this video

Listen to the whole video once without speaking and note the words you do not know.
Start at 0.75× speed, shadow it sentence by sentence, then go back to normal speed once it feels easy.
Record yourself and compare with the original, paying attention to words like fiscal, monetary, implement.

What is the Shadowing Technique?

Shadowing is a science-backed language learning technique originally developed for professional interpreter training and popularized by polyglot Dr. Alexander Arguelles. The method is simple but powerful: you listen to native English audio and immediately repeat it out loud — like a shadow following the speaker with just a 1–2 second delay. Unlike passive listening or grammar drills, shadowing forces your brain and mouth muscles to simultaneously process and reproduce real speech patterns. Research shows it significantly improves pronunciation accuracy, intonation, rhythm, connected speech, listening comprehension, and speaking fluency — making it one of the most effective methods for IELTS Speaking preparation and real-world English communication.

Shadowing technique: read the full step-by-step guide →

Shadowing Practice: Monetary vs Fiscal Policy Explained | PART 1 | Think Econ - Learn English Speaking with Video

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