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.pdf4.Computers use this kind of technology. _ _ _ _ _ _ _
5.Connected to the Internet. _ _ / _ _ _ _
6.Business over the Net. _ / _ _ _ _ _ _ _ _
7.Many companies have this where you can find out about them. _ _ _ _ _ _ _
8.The first page that we access when we go onto 7. _ _ _ _ / _ _ _ _
9.To travel across the Internet: not sail, but … _ _ _ _
10.Google is probably the world’s most-used _ _ _ _ _ _ engine.
11.Not a computer rat, but a computer _ _ _ _ _.
12.When everything stops working on your computer; like an accident. _ _ _ _ _
13.To receive information and files onto your computer. _ _ _ _ _ _ _ _
14.The sound 11 makes. _ _ _ _ _
Make the correct word boundaries and you will know the answers.
INTERNETEMAILSCREENDIGITALONLINEECOMMERCEWEBSITEHOMEPAGESURFSEARCHMOUSECR ASHDOWNLOADCLICK
69. Study the word combinations and try to explain them. Then write them in your language.
Political instability |
Racial tension |
Mass unemployment |
Hyperinflation |
Massive trade deficits |
Cheap labour markets |
Poverty in the Third World |
The debt crisis |
The North-South divide |
The East-West divide |
The collapse of communism |
Environmental damage |
A population explosion |
An ageing population |
Under-employment |
Trade wars |
Arms build-up |
Oil supplies |
International terrorism |
Political extremism |
70.We are living in hard times. What do you think the greatest threats to the world economy are? Brainstorm ideas.
71.Which of the threats do you consider to be the key global issues? Are there others that you believe to be even more important? What do you think their economic implications might be?
72.Which countries or geographic areas do you think will have the most direct or indirect impact on the global economy over the next five to ten years? Can you justify your view?
73.Compare your views with your partner and those expressed in the article, The Death of Economics.
The Death of Economics
The world economy is falling apart. And no one has a clue what’s going wrong – least of all the economists.
Whereas in the past, supply and demand had a way of evening themselves out, we now swing from hyperinflation to soaring unemployment as slump follows boom. The once predictable business cycles which drive the market economy have gone out of control. The economic statistics issued by governments seem more unreliable than ever. And, for the first time, politicians have started talking about ‘the death of economics’.
Speculative Greed
A major cause of the crisis has been the business sector’s ruthless pursuit of capital. It was largely corrupt property speculators and poorly managed financial institutions that caused the collapse of the Japanese economy in the 90s and the subsequent ‘Asian meltdown’. The dotcom boom at the beginning of the 21st century was also motivated by short-term speculative greed. More money actually changes hands in four and a half days on the global currency markets than is exchanged annually through trade in merchandise and services. Business, it seems, is a very slow way to make money. The fastest way to make money is money.
Merger-mania
Two decades of bigger and bigger mergers and acquisitions have compounded the problem. In 1997 alone $ 1.6 trillion were spent on M&As. For the board members and shareholders of the companies concerned, there were huge windfall profits to be made, but for the companies themselves it was not always good news. Not was it good news for the thousands laid off as a result of bringing ex-competitors together. In the new globalised economy, the need to grow at all costs has also led companies like Enron and WorldCom to become increasingly creative in their accounting methods. In some companies has become common practice.
Different Worlds
But the real long-term crisis is the widening gap between rich and poor. Thirty per cent of the world’s population represents ninety per cent of the world’s GDP, whilst the other seventy per cent have to survive on the remaining ten per cent. The income ratio between the richest and poorest countries went from 30:1 in 1960 to 74:1 in 1997 – and it’s getting worse. So it isn’t trade deficits, post-communist chaos or the global arms build-up that pose the greatest threat to the world economy. Nor is it political instability in Africa and the Middle East, international terrorism or the Latin American debt crisis. It is the emergence throughout both the developed and developing world of a vast and permanent underclass of seriously poor.
Cheap Labour from the East
In some cities in Central and Eastern Europe, unemployment is running as high as eighty per cent. Wages have fallen so far behind escalating inflation that immigration controls in the West have had to be tightened to prevent an influx of workers from the East. But, of course, this hasn’t stopped some Western companies exploiting cheap labour in both Eastern Europe and South-East Asia, and putting their own employees out of work.
The Working Poor
In the USA, where unemployment benefit is cut after six months and staying out of work is not an option, they are creating jobs at the cost of decreased incomes. For in many of the inner cities of the USA they have something approaching a Third World economy. According to the latest figures, 12.7% of Americans currently live below the poverty-line. The problem is not so much unemployment as under-employment, with millions of people in low-paid, dead-end, so-called ‘McJobs’ that have zero prospects.
Corporate Rule
The result of all this is that corporations now exercise an unprecedented influence on the global economy and the distribution of wealth, as the world’s governments, powerless to regulate them, become increasingly irrelevant. Near-monopolies like Microsoft are hard to fight and in industries like telecoms, the top ten companies control eightysix per cent of the market. In fact, half the world’s richest institutions are not countries but companies. No wonder then that both countries and companies try to conceal the real figures. As the famous saying goes, ‘It’s often easier to be economical with the truth than truthful about the economy’.
from: New Business Matters
74. Which of the following topics does the article discuss?
1)the boom-bust economy;
2)political extremism;
3)the money markets;
4)social inequality;
5)retraining the unemployed;
6)corporate fraud;
7)the black economy;
8)government cover-ups.
75.What is your personal reaction to the article?
I totally agree that … .
I think the point about … is probably true. I don’t agree with the point about … at all. I already knew … , but I didn’t realize … . I’m not sure I can believe … .
What shocks me most is … .
76.Find the words and expressions in the article which mean:
1) no one has any idea;
2) a period when the economy is weak;
3) a period when the economy is strong;
4) sudden and complete economic failure;
5) is exchanged;
6) made things worse;
7) large amounts of money you get unexpectedly;
8) rising rapidly;
9) to be made stricter;
10) the arrival a large number of people;
11) never having happened before;
12) it’s not surprising.
77.Complete the following notes on the article using the pairs of words in the boxes. Try not to look back at the text.
profits + employees
institutions + collapse boom + greed
hyperinflation + unemployment markets + money
supply + demand debts + acquisitions increase + acquisitions
1.In the past … and … used to even themselves out.
2.We now swing from … to soaring … .
3.Poorly managed financial … caused the … of the Japanese economy.
4.The dotcom … was motivated by short-term … .
5.The currency … are where the real … is made.
6.The … in the number of mergers and … has compounded the problem.
7.Shareholders made huge … but thousands of … were laid off.
8.Many companies now hide … to finance … .
unemployment + inflation population + GDP
jobs + poverty threat + underclass power + institutions truth + economy crisis + gap controls + influx
1.The real … is the widening … between rich and poor.
2.Seventy per cent of the world’s … has to survive on just ten per cent of its … .
3.The greatest … to the world economy is a new … of seriously poor.
4.… is running high and wages have fallen behind … .
5.Immigration … have been tightened to prevent an … of workers from the East.
6.In the USA many have low-paid, dead-end … and live below the … -line.
7.Companies now have more … than countries and comprise fifty per cent of the world’s richest … .
8.It is easier to be economical with the … than truthful about the … .
78.What do you think about Russia’s economy? Is it strong or not? Would you say it was about to enter a period of growth or decline?
79.Complete these words by adding the vowels. Each word can follow the adjective economic.
1. |
g r _ w t h |
10. |
m _ _ s _ r _ s |
2. |
_n d _c _ t _ r s |
11. |
d _ v _ l _ p m _ n t |
3. |
c r _ s _ s |
12. |
r _ _ n |
4. |
f _ r _ c _ s t |
13. |
r _ f _ r m |
5. |
f _ r c _ s |
14. |
s t r _ t _ g y |
6. |
t h _ _ r y |
15. |
r _ c _ v _ r y |
7. |
p _ l _ c y |
16. |
_ n _ _ n |
8. |
_ _ t l _ _ k |
17. |
s _ n c t _ n s |
9. |
r _ c _ s s _ _ n |
18. |
_ _ d |
80. Now complete the following sentences using some of the words from Ex. 79:
1.Economic …, such as the rate of inflation and the level of unemployment, are the signs that economists look for to help them produce their economic … .
2.Economic … is what a country faces if it builds up too great a national debt.
3.The prospects for a country’s economic future might be called its economic … .
4.During a period of economic … the government is forced to take strong economic … to revitalize the economy.
5.Despite all the talk of political and economic …, Europe seems more divided than ever.
81. Here are some of the most common expressions you will need when reading or listening to business news. Whenever you learn a new expression, try to learn its opposite as well. Choose verbs from the boxes which are the opposite of those on the left.
close |
impede |
scrap |
cut |
improve |
relax |
break off |
come out of |
harm |
privatise |
1.Nationalise INDUSTRY
2. |
Increase |
SOCIAL BENEFITS |
3. |
Go Into |
RECESSION |
4. |
Damage |
INTERNATIONAL RELATIONS |
5. |
Tighten |
IMMIGRATION CONTROLS |
6. |
Set Up |
AN INVESTMENT PROGRAMME |
7. |
Widen |
THE TRADE GAP |
8. |
Enter Into |
NEGOTIATIONS / TALKS |
9. |
Promote |
OUR IMAGE ABROAD |
10.Bring About ECONOMIC RECOVERY
help |
adopt |
put off |
divide |
|
push up |
|
neglect |
|
launch |
reduce |
pay off |
resist |
|
|
11. |
Raise |
|
TAXATION |
|
|
|
12. |
Unite |
|
PUBLIC OPINION |
||
|
13. |
Bring Down |
UNEMPLOYMENT |
|||
|
14. |
Hit |
|
THE UNEMPLOYED |
||
|
15. |
Give In To |
|
PRESSURE |
|
|
|
16. |
Attract |
|
FOREIGH INVESTORS |
||
|
17. |
Come Under |
AN ATTACK |
|
||
|
18. |
Accumulate |
|
DEBTS |
|
|
|
19. |
Abandon |
|
A POLICY |
|
|
|
20. |
Invest In |
|
EDUCATION |
|
|
82. In each example, use another form of the word in capitals to complete the sentence.
ECONOMICS
1.She’s a leading … .
2.You can call it being … with the truth, if you like. I call it lying!
3.We need to think of practical ways in which we can … .
POLITICS
4.Politics is too serious a matter to be left to the … .
5.The whole thing is … motivated.
6.They’ve … the issue by involving the government.
83. Using the statistics below, complete these sentences describing a country’s economic situation:
|
1985 |
1995 |
now |
3yrs from |
|
|
|
|
now |
GDP |
$61bn |
$130bn |
$98 |
$80 |
Inflation |
21% |
16% |
18% |
23% |
Unemployment |
6% |
12% |
15% |
20% |
Population |
34m |
32m |
36m |
39m |
*GDP - gross domestic product
1.Since 1985 GDP … .
2.Between 1985 and 1995 GDP more than … .
3.But for the last … years GDP … .
4.Over the next 3 years GDP … .
5.There’s been a 2% rise … .
6.Inflation is expected … .
7.Compared with 1985, the 1995 inflation figure … .
8.Unemployment has been .. .
9.The most dramatic rise in unemployment … .
10.Over the next 3 years unemployment … .
11.Compared with … years ago, the unemployment situation … .
12.In terms of population, the overall trend … .
13.In spite of a fall of 2m … .
14.The rise in population is expected … .
15.Overall, the country is in a worse economic … situation than … .
16.The outlook for the next … .
You may choose the answers from this box.
1) three years is not encouraging; 2) has increased by over 50%; 3) it was in 1990; 4) doubled; 5) to continue over the next three years; 6) has fallen; 7) between 1980 and 1990, the population is now growing rapidly; 8) is expected to fall by a further $12bn; 9) is upward; 10) in inflation; 11) is considerably worse; 12) to rise; 13) is likely to be pushed up by a further 5%; 14) was relatively encouraging; 15) was between 1980 and 1990; 16) steadily increasing.
84. Work in two groups. The first group are the experts of the British economy, the second group are experts of the Russian one. Draw up a profile of your country. What are their economic and political prospects? Discuss the perspectives of both countries. Prove your ideas.
Things you might consider include
the country’s principal industries
its transport system and infrastructure
the location of industrial and commercial centres
natural resources
environmental hazards
demographics
the threat of war from a hostile foreign power
political unrest at home
the northwest-southeast divide
Outlining Proposals
We are committed to …
Above all, we must ...
Unless we …
Provided that we …
Basically, what we’re proposing is …
In no circumstances must we allow …
If elected, we aim to … by …
We need to be thinking in terms of …
We see no alternative but to …
A vote for us will mean …
85. Write an essay (not less than 200 words) “Russia and Great Britain: economy and prospects of development”
Self-Assessment
Module 5
1.Look through Module 5 to find the answers to the questions 1 – 20.
1.What languages are spoken in Great Britain?
2.What animals can you see on British royal coat of arms?
3.What is the formal name of the British national flag?
4.How many crosses are there on the British flag? What do they symbolize?
5.What do GlaxoSmithKline and AstraZeneca produce?
6.List as many facts as you can about the London Underground.
7.What sector now makes up about 73% of GDP?
8.Prove that Britain is the birthplace of the Industrial Revolution.
9.What are the main export partners of the UK?
10.What Russian-British projects do you know?
11.What is the Eurozone?
12.What is an American bank executive Joseph Williams famous for?
13.What do you think the greatest threats to the world economy are?
14.Which countries or geographic areas do you think will have the most direct or indirect impact on the global economy over the next five to ten years?
15.What countries does the United Kingdom consist of?
16.What company holds a major share of the global aerospace engines market?
17.What is the major waterway in England?
18.Where in London are the companies providing financial services concenterated?
19.What are the ways to reduce costs?
20.What is on-line business? How it works?
2. There are at least 30 hidden words. Find them!
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Bibliography
1.Adrianova Irina, Toumanova Natalia. Learn and celebrate. – Новосибирск: «Инфолио-пресс», 1992. – 159c.
2.Dale, D. The little book of Australia. - Allen & Unwin, Australia. – 2010. – 261 p.
3.Hornby, A. S. Oxford advanced learner’s dictionary / A.S. Hornby - Oxford University Press, 2000. – 1540 p.
4.http://en.wikipedia.org/w/index.php?title=Economy_of_the_United_Kingdom&action=history
5.http://en.wikipedia.org/wiki/Main_Page
6.http://eng.1september.ru
7.http://news.bbc.co.uk
8.http://www.bbclearningenglish.com
9.http://www.magazine-deutschland.de
10.http://www.onestopenglish.com
11.Jon Nauton. Profile 1. Student’s Book. Intermediate. – Oxford: Oxford university Press, 2005. – 143c.
12.Jon Nauton. Profile 2. Student’s Book. Intermediate. – Oxford: Oxford university Press, 2005. – 175c.
13.Neil Wood. Business and Commerce Workshop. – Oxford: Oxford university Press, 2005. – 40c.
14.Powell, Martinez, Jillett. New Business Matters. Coursebook. – Thomson HEINLE. – 2004. – 2000c.
15.Speak Out. Журнал для изучающих английский язык. – 2005. – №1.
16.Speak Out. Журнал для изучающих английский язык. – 2005. – №4.
17.Speak Out. Журнал для изучающих английский язык. – 2005. – №6.
18.Speak Out. Журнал для изучающих английский язык. – 2008. – №4.
19.Sue Kay, Vaughan Jones, Philip Kerr. Inside Out. Student’s Book. Pre-intermediate. – Oxford: Macmillan Publishers Limited, 2006. – 143c.
20.Virginia Evans, Genny Dooley. Enterprise 3. Course Book. Pre-intermediate. – Berkshire: Express Publishing, 2002. – 142c.
21.Кузовлев, В.П. English. 10-11 классы. Activity Book – M.: Просвещение, 2006. – 112 с.
Contents
Economy Great Britain ……………..…….……………………………….3
Self-Assessment Module 5……………………………………………….43 Bibliography …………………………………………..…………………45
Учебное издание
Анна Викторовна Кузюкова
ME AND MY WORLD: BRITISH ECONOMY
Учебно-методическое пособие
Модуль 5
***
Редактор И.Г. Кузнецова
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