Vocabulary developing

Exercise 8.

Find in the text the opposite for the following:

1. bad times

2. decline

3. to underweight

4. to disappear

5. unseriousness

Exercise 9.

In the text find the English equivalent for the following:

1. система рычагов (государственного регулирования)

2. подъем или падение, выходящие за прежние рамки

3. экономическое благополучие

4. экономика, набирающая обороты в своём развитии

5. отсталые рынки (финансовые рынки стран с развивающейся экономикой)

Exercise 10.

Fill in the gaps in the following sentences with the words below:

1. Show-business is a _________industry.

2. What results __________from your talks?

3. In financial markets, underweight is a term used when rating stock. A rating system may be three tiered: ________, equal weight and ________.

4. You are required to _________ 50 hours of community service.

5. His work regularly __________ all expectations.

6. The union's size gave it _________in the labor contract negotiations.

7. Prices have increased __________about eight percent.

Words: mature, underweight, overweight, to perform, surpasses, leverage, emerged, on average

DISCUSSION

In the past, growth has allowed poor people to improve their economic conditions. During periods of growth, people have felt optimistic about their future. In recent years, many people have argued that economic growth is a mixed blessing.

Decide with your partner what points of economic growth could be considered as the problems and which are the benefits.

Could the benefit on the one hand be the disadvantage on the other?

What are the consequences of enjoying the benefits as well as suffering the problems of economic growth?

Speaking about problems, provide possible solution to each of them.

Points under your discussion:

1. People are employed and earn income.

2. As people produce more goods and provide more services, the average standard of living goes up.

3. A decrease in working hours together with an income improvement, more leisure time.

4. Air, water pollution, destruction of forests, wetlands, beaches, mountains, ocean beds.

5. Depletion of natural resources that cannot be replaced.

6. Companies must reserve money to replace equipment and update its factories, as well as to expand in order to cover the costs.

7. A growing amount of waste products.

8. Additional tax revenues for the government.

9. Uneven growth among different groups.

10. New technologies arising.

UNIT 3

PREVIEW

Exercise 1.

Answer the questions or predict the answers for the questions below:

1 .Why is money so important in our society? What gives it value?

2. Do the fluctuations in the economy’s money supply influence how much spending occurs?

Vocabulary for the texts

origins n	-	the beginning, starting point, cause, or ultimate source, from which a thing is derived
confuse v	-	1) blur; 2) bewilder
coinage n	-	1) stamping of coins; 2) monetary system
issue n,v Collocations - to bring up issue, to raise an issue - to settle an issue - political issue	-	1) item, publication, edition, matter, point, problem, question (n); 2) to edit, 3) to bring an issue (v)
granary n	-	a storehouse or repository for grain, esp. after it is thrashed or husked; a cornhouse
receipt n	-	a written acknowledgement that a specified article or sum of money has been received as an exchange for goods or services
order n, v Collocations - New International Economic Order - firm order	-	1) arrangement; 2) direction, instruction (n); 2) arrange; 2) command, direct, instruct (v)
withdrawal n	-	removing funds from an account, plan, pension or trust
setting n Collocation social setting	-	1) the surroundings or environment of anything; 2) the time, place, and circumstances in which something occurs or develops
punishment n	-	penalty
precious adj	-	of great value
commonplace n	-	trivial, ordinary, unremarkable
miniature n	-	compact, small, tiny version
severe adj Collocation - severe competition, depression	-	given to or marked by strict discipline and firm restraint, implies standards enforced without indulgence or laxity and may suggest harshness
adapt v	-	1) to accommodate, adjust: 2) to accommodate, conform, fit; 3) to alter
i.e. = id est (Lat.)	-	that is
capital offense (offence (UK)) n	-	major crime, transgression, misdemeanour
enhance v		1) to grow larger, to heighten, improve, increase; 2) to intensify, strengthen, reinforce
transaction n		an event associated with the transfer of an amount of money (debit or credit) in the operation of a business, bargain, deal
account balance n		money remainder
register n Collocations - account register - Federal Register - cash register		1) list, index; 2) journal; 3) bill, listing
customizable adj		adjustable, which could be changed
track n, v Collocations - industry tracks - storage track		route, way; approach to pursue
tool n Collocations - fiscal tools - sales tools		instrument, implement

 READING 1