- •Unit 1. Making contacts reading
- •I. Before reading the text learn the following words.
- •Telephoning across cultures
- •II. Answer the following questions.
- •Discussion
- •I. Meeting people
- •I. Here are the words and phrases which are commonly used when we meet
- •Greetings
- •Farewells
- •Thanks and possible answers
- •First words
- •Ending the small talk
- •II. Now make the telephone call yourself, using the words above. Try not to use the notes.
- •III. It is not always possible to follow your original plans. You, or your contact, may want to change an appointment. Study the expressions below.
- •III. The telephone
- •I. This datafile gives you many of the terms and phrases commonly used in making telephone calls.
- •II. After studying the text and the datafile above, decide if the information below is true or false.
- •III. Insert the missing word.
- •IV. Choose the best answer for the phrase:
- •IV. Using the words and expressions you have studied try to explain the system of telephone dialing in our country.
- •II. Answer the following questions.
- •I. You are in London and you want to buy a ticket for Glasgow. Complete the dialogue.
- •II. On the plane.
- •III. At the airport.
- •I. Learn the words you may need for your flight.
- •II. Read the following dialogue. Work in pairs.
- •III. Complete the dialogue using the words you have studied.
- •IV. Use have to and some of the terms from exercise I to complete the following sentences.
- •V. Here are the phrases and questions which you may be asked when you have to pass through the Customs.
- •VI. Complete the dialogue. Work in pairs.
- •VII. Now, it’s your turn to go through the Customs. Make the dialogue. Unit 3. Meetings. Negotiations. Deals. Reading
- •I. Before reading the text find the meaning of the words below in the dictionary. Learn them by heart.
- •II. Answer the following questions.
- •IV. Read and translate the dialogue “Structure and functions of a bank”
- •Discussion meetings. Negotiations. Deals
- •III. Negotiations
- •I. Dr. Smith is holding a two-day seminar on negotiating techniques. At the end of the first morning he gives the group his ten rules for negotiating. Here they are.
- •II. Read Dr. Smith’s rules and then look at the remarks in list a. These remarks are not good for negotiating. Instead, use phrase from list b.
- •V. Complete the questionnaire to find out if you are a good negotiator?
- •IV. Deals
- •I. The words below show some of the most common uses of the word deal.
- •II. Complete these sentences using each of the phrases above in the appropriate form.
- •Unit 4. Company structure reading
- •I. Before reading the text find the meaning of the words below in the dictionary. Learn them by heart.
- •Company structure
- •II. Answer the following questions.
- •Discussion the inner structure of a company
- •II. Using the information above answer the following questions.
- •III. Give your view on features listed below. Which of them are the most important for the manager? Which ones are not so essential?
- •IV. Read the text about mts Systems Corporation and complete the following “fact file” organisation chart below.
- •V. Now read the text again and complete the organisation chart
- •VI. Circle the word that does not belong in each horizontal group.
- •Marketing
- •II. Answer the following questions.
- •III. Read Mr. Lopez presentation.
- •IV. Below are some notes made by one of the colleagues of Mr. Lopez , some of them should be corrected. Write true or false against each statement.
- •V. Before reading the text, discuss these questions. Then read the text.
- •Zumo – creating a global brand.
- •Unit 6. Advertising reading
- •Advertising
- •II: Sort out the most important information from the text and retell it.
- •Sacrilege
- •V. Find words or expressions in the text which correspond to the following definitions.
- •Discussion
- •Focus Advertising
- •Writing
- •Unit 7. Money reading
- •I. Before reading the text learn the following words.
- •The dollar
- •The pound
- •II. Answer the following questions:
- •Discussion
- •You and your money
- •I. Do the quiz individually. Then compare answers with a partner.
- •II. Translate the following phrases:
- •III. In your opinion, which of the following give the best return on your money? Which are very risky? Which are less risky?
- •I. Work in three groups. Each group reads a different text: either The South Sea Bubble or Tulipomania or The Wall Street Crash. Make notes on the key points. The south sea bubble
- •Tulipomania
- •The wall street crash
- •II. Form new groups of three people, each of whom has read a different text. Exchange information and complete the chart below.
- •III. Discuss these questions.
- •IV. Work in groups. Find words or phrases in the texts which are similar in meaning to the definitions below. The first group to finish is the winner.
- •Angel investment
- •1. The Business
- •Writing
- •Unit 8. Employment reading
- •I. Before reading the text learn the following words.
- •How to select the best candidates - and avoid the worst
- •II. Answer the following questions.
- •III. In another part of the article (not included here), the writer suggests that selectors should look for three qualities:
- •Discussion
- •Job interview. Dialogue
- •I. Read and translate the dialogue:
- •II. In pairs, make conversations using the prompts below.
- •II. Discuss these questions.
- •III. Match the adjectives in column a to the nouns in column b. Make six word partnerships.
- •IV. Now complete these sentences with word partnerships from the list.
- •Writing
- •II. Write your own letter of application in reply to the following advertisement:
- •Unit 9. Cultures in business reading
- •I. Before reading the text learn the following words.
- •The impact of culture on business
- •I. Which do you think of the three statements (a, b, or c) given below the extract offers the most accurate summary.
- •II. Read the text again. Identify the following:
- •Ian Hamilton Fazey examines a ten-point guide to doing export business in Japan.
- •Discussion
- •Visitors from china
- •Writing
- •Differences between British and American Letters
- •Discussion
- •II. Put an f for formal and an I for informal language. Give reasons.
- •III. Read the two models and find out which model:
- •IV. Match these phrases with the types of letters. Give more opening phrases and endings for each type of letter.
- •VI. Read the following questions and identify the type and style of each letter. Then write any two of them. Write your answer in the appropriate style, using 120-180 words. Do not include addresses.
- •Writing
- •II. Read the instructions below and write a reply including all the information given.
- •Additional information the layout of letters
- •Additional reading the scope of economics
- •How to study economics?
- •Employment
- •Minimum wage
- •Types of inflation
- •Competition
- •Money illusion
- •Money supply
- •Fiscal policy
- •Foreign direct investment
- •Free trade
- •Globalisation
- •Taxation
- •An advertisement for the new ford puma
- •Eye contact
- •Letters and documents
- •Contents
Money illusion
Money illusion is a situation when people are misled by inflation into thinking that they are getting richer, when in fact the value of money is declining. Whether, and how much, people are fooled by inflation is much debated by economists. Money illusion, a phrase coined by Keynes, is used by some economists to argue that a small amount of inflation may not be a bad thing and could even be beneficial, helping to "grease the wheels" of the economy. Because of money illusion, workers like to see their nominal wages rise, giving them the illusion that their circumstances are improving, even though in real (inflation-adjusted) terms they may be no better off. During periods of high inflation double-digit pay rises (as well as, say, big increases in the value of their homes) can make people feel richer even if they are not really better off. When inflation is low, growth in real incomes may hardly register.
Money supply
Money supply is the amount of money available in an economy. In the heyday of monetarism in the early 1980s, economists pounced upon the monthly (in some countries, even weekly) money-supply numbers for clues about future inflation. Central banks aim to manage demand by controlling the supply of money through open-market operations, reserve requirements and changing the rate of Interest (to be exact, the discount rate).
One difficulty for policymakers lies in how to measure the relevant money supply. There are several different methods, reflecting the different liquidity of various sorts of money. Notes and coins are completely liquid; some bank deposits cannot be withdrawn until after a waiting period. M3 (M4 in the UK) is known as broad money, and consists of cash, current account deposits in banks and other financial institutions, savings deposits and time-restricted deposits. M1 is known as narrow money, and consists mainly of cash in circulation and current account deposits. M0 (in the UK) is the most liquid measure, including only cash in circulation, cash in banks’ tills and banks’ operational deposits held at the Bank of England.
Although it is a poor predictor of inflation, monetary growth can be a handy indicator of economic activity. In many countries, there is a clear link between the growth of the real broad-money supply and that of real GDP (gross domestic product).
Fiscal policy
Fiscal policy is one of the two instruments of macroeconomic policy. It comprises public spending and taxation, and any other government income or assistance to the private sector (such as tax breaks). It can be used to influence the level of demand in the economy, usually with a goal of getting unemployment as low as possible without triggering excessive inflation. At times it has been deployed to manage short-term demand through fine tuning, although since the end of the tabilize era it has more often been targeted on long-term goals, with monetary policy more often used for shorter-term adjustments.
For a government, there are two main issues in setting fiscal policy: what should be the overall stance of policy, and what form should its individual parts take?
Some economists and policymakers argue for a balanced budget. Others say that a persistent deficit (public spending exceeding revenue) is acceptable provided, in accordance with the golden rule, the deficit is used for investment (in infrastructure, say) rather than consumption. However, there may be a danger that public-sector investment will result in the crowding out of more productive private investment. Whatever the overall stance on average over an economic cycle, most economists agree that fiscal policy should be counter-cyclical, aiming to automatically tabilize demand by increasing public spending relative to revenue when the economy is struggling and increasing taxes relative to spending towards the top of the cycle. For instance, social (welfare) handouts from the state usually increase during tough times, and fiscal drag boosts government revenue when the economy is growing.
As for the bits and pieces making up fiscal policy, one debate is about how high public spending should be relative to GDP (gross domestic product). In the United States and many Asian countries, public spending is less than 30% of GDP; in European countries, such as Germany and Sweden, it has been as high as 40-50%. Some economic studies suggest that lower public spending relative to GDP results in higher rates of growth, though this conclusion is controversial. Certainly, over the years, much public spending has been highly inefficient.
Another issue is the form that taxation should take, especially the split between direct taxation and indirect taxation and between capital, income and expenditure tax.