English guide for economists and managers (руководство на английском языке для экономистов и менеджеров). Учебное пособие

Task 3. Make the questions to the following answers.

1.Higher Education in Great Britain consists of several steps.

2.After finishing school you can enter some colleges where you will get some manual skills, and also learn typing, engineering, cooking, hairdressing and so on.

3.It lasts for two years.

4.Here you deepen your knowledge from the Bachelor Degree.

5.Universities have their own student’s hostels and some of them have large and excellent sport centers.

Writing

Translate the text from English into Russian and entitle it.

There are several types of universities in Great Britain. The first type is the ancient ones. All of them were founded between the 16th and the 19th centuries and are very reputable. The top place of them is divided between two well-known universities: Oxford and Cambridge, both known as Oxbridge. Though they have rivalry, there is also a great cooperation between them. A lot of elite people are the graduates of these universities, though they have differences in educational process. Each of them is divided into more than thirty colleges. Colleges at Oxford suggest only those subjects for the students that depend on the field of their study, but Cambridge colleges give a chance to choose the subjects from the list according to your preferences. Oxford University was founded in 1096 and now more than 20,000 students attend it. It offers a broad array of courses, cooperates with numerous organizations, but a degree there will cost you a pretty penny. Cambridge University is also known as the biggest public research center and was founded in 1209 by scholars, who had escaped to Cambridge from Oxford. There are more than 18,000 students there and some of the colleges admit only women. Students attend not only group teaching sessions, but also have supervisions. Each of the graduates remains a member of the college forever.

The second type of the universities is red brick ones. They got their name because of the material they are built with and are located in Manchester, Birmingham and Leeds. They were established during Queen

Victoria’s reign and before World War II. They differ from the ancient ones because of being non-collegiate and they have taught only locals. They used to admit only men and focus only on «practical subjects». Red

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Brick Universities were started as preparatory courses, but nowadays they award with their own degrees.

New universities are subdivided into two types: the campus and the newer civic ones. They appeared after the Robins Report and the ones founded in the 1960s are considered «Plate Glass Universities». The Campus Universities are situated in the countryside, have enough accommodation for international students, provide teaching in small groups and put an emphasis on relatively new disciplines. The New Civic Universities used to be technical colleges and are known after 1992 as university. Gradually they were given the right to award with the degree. They are known as «polytechnics» and suggest «sandwich» courses (the possibility of studying outside the establishment).

The last type of the universities is called the Open University. It centers on a distant learning. In 2005 there were more than 180,000 students and it became the largest institution of the UK higher education. The administration of it is based in Buckinghamshire and it has 13 regional offices all over the country. The students of this university get information on TV, radio, in the course-books or the Internet. The students have tutors, who check their works and discuss them. In summer they have short residential courses according to the field of study.

British Universities are very reputable and attract thousands of students from different countries. All of them have necessary facilities for studying, professional staff and numerous courses. There are also courses for undergraduates and postgraduates, so each person can find something to his taste. British Universities support their students awarding them with grants, special scholarships or other benefits, so try hard and the degree of such a university can be yours.

по материалу: http://tooday.ru/?l=eng&r=10&t=universities_of_great_britain- universitetyi_velikobritanii-6b

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UNIT III

THE SUBJECT OF ECONOMICS.

ECONOMIC ENVIRONMENT

Starting up

Before studying the material of Unit III, read and memorize the definitions of the key terms of this unit.

Economic environment:

–the condition of a country’s economy and the way that it influences how effectively businesses can work, how much profit they can make, etc. (Financial and business terms);

–factors that affect the buying power and spending patterns of consumers. These factors include income distribution, changes in purchasing power as a result of inflation, the state of the country’s economy, etc.

(Big dictionary of business and management).

(по материалу http://economy_en_ru.academic.ru/21422/economic_environment)

Words and Expressions to be studied:

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While reading the Text of this Unit, you’ll find these words and expressions. They will be given as italicized ones. You may also consult any English-Russian dictionary.

Vocabulary

Task 1. Complete the sentences with the words given below:

organizations, economies, environment, statistics, consumers

1.All these organizations and the decisions they take play a prominent part in shaping the business ... in which firms exist and operate.

2.They do this because ... have plenty of money to spend and firms expect high sales.

3.There are a large number of statistics produced regularly on the operation of the world’s major ... .

4.... are available to show the level of wages, inflation, unemployment.

5.Private ..., such as the banks, building societies and universities, publish figures on various aspects of the economy’s performance.

Task 2. Find synonyms among the following words (you are supposed to have 10 pairs):

Prosperity, cost, business, wage, to produce, society, labour, price, information, to buy, salary, data, organization, to make, buyer, success, to purchase, firm, consumer, work.

Task 3. Choose the correct word in the following sentences.

1. The economic / economical environment alters as the economy moves into a recession.

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2.A prime example of this occurs when interest / interesting rates are increased:

3.Date / data is provided on a wide range of aspects of the economy’s operation.

4.They tell us whether / weather the economy is working at full capacity using all or nearly all, available resources of labour, machinery and other factors of productivity / production or whether these resources are being under-utilized.

5.An alternative measure of the level of activity / inactivity is national income statistics, which show the value of a nation’s / national output during a year.

Task 4. Rearrange the words to make complete sentences.

1.the economy / is / high sales / when / enjoying /a boom, / experience / and / general / firms / prosperity.

2.the economy /changes / in / all types / the state / of / affect /of / business.

3.environment / to control / individual / firm / the ability / this / no / aspect / has / of / its.

4.the / level / figures / for / an indicator / unemployment / the / economy / give / of / the / of / activity.

5.graphs / economic / are presented / in / common / many forms / statistics / the most / and / tables / being.

Reading

Task 1. Discuss these questions in pairs.

a)Why is it difficult to control and predict the economy?

b)Is the state of the economy a major factor in the success of firms?

c)Do the unemployment figures for the economy give an indicator of the level of the economic activity?

The economic environment

The economy comprises millions of people and thousands of firms as well as the government and local authorities, all taking decisions about

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prices and wages, what to buy, sell, produce, export, import and many other matters. All these organizations and the decisions they take play a prominent part in shaping the business environment in which firms exist and operate.

The economy is complicated and difficult to control and predict, but it is certainly important to all businesses. You should be aware that there are times when businesses and individuals have plenty of funds to spend and there are times when they have to cut back on their spending. This can have enormous implications for business as a whole.

When the economy is enjoying a boom, firms experience high sales and general prosperity. At such times, unemployment is low and many firms will be investing funds to enable them to produce more. They do this because consumers have plenty of money to spend and firms expect high sales. It naturally follows that the state of the economy is a major factor in the success of firms.

However, during periods when people have less to spend many firms face hard times as their sales fall. Thus, the economic environment alters as the economy moves into a recession. At that time, total spending declines as income falls and unemployment rises. Consumers will purchase cheaper items and cut expenditure on luxury items such as televisions and cars.

Changes in the state of the economy affect all types of business, though the extent to which they are affected varies. In the recession of the early 1990s the high street banks suffered badly. Profits declined and, in some cases, losses were incurred. This was because fewer people borrowed money from banks, thus denying them the opportunity to earn interest on loans, and a rising proportion of those who did borrow defaulted on repayment. These so-called «bad debts» cut profit margins substantially.

Various forecasters reckoned that the National Westminster Bank’s losses in the case of Robert Maxwell’s collapsing business empire amounted to over £100 million.

No individual firm has the ability to control this aspect of its environment. Rather, it is the outcome of the actions of all the groups who make up society as well as being influenced by the actions of foreigners with whom the nation has dealings.

Now, let’s consider measuring economic activity. There are a large number of statistics produced regularly on the operation of the world’s major economies. The UK’s economy is no exception in this respect. You will

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probably have noticed that often the headlines in newspapers or important items on television news programmes relate to economic data and the implications for individuals and businesses. A prime example of this occurs when interest rates are increased: the media responds by highlighting the adverse effects on businesses with debts and householders with mortgages.

Data is provided on a wide range of aspects of the economy’s operation.

Statistics are available to show:

–the level of unemployment;

–the level of inflation;

–a country’s trade balance with the rest of the world;

–production volumes in key industries and the economy as a whole;

–the level of wages;

–raw material prices, and so forth.

The main statistics illustrating the economy’s behaviour relate to the level of activity in the economy. That is, they tell us whether the economy is working at full capacity using all or nearly all, available resources of labour, machinery and other factors of production or whether these resources are being under-utilized.

The unemployment figures for the economy give an indicator of the level of activity. As the economy moves towards a recession and a lower level of prosperity it is likely that unemployment figures will rise. An alternative measure of the level of activity is national income statistics, which show the value of a nation’s output during a year. Economists use the term Gross National Product to describe this data. Changes in the level or trends of such key data have great significance for businesses, as we shall see later.

There are numerous sources of data on the economy of which we can make use. The government publishes much through the Treasury, Department of Trade and Industry, the Bank of England and the Department of Employment. The Central Statistical Office, which was established during the Second World War, publishes about half of the government’s economic data.

Much of this is contained in its annual publication, «The Annual Abstract of Statistics». It also publishes the equally valuable «Social Trends» annually. Additionally, private organizations, such as the banks, building societies and universities, publish figures on various aspects of the economy’s performance. Economic statistics are presented in many

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forms, the most common being graphs and tables. Although these statistics can be valuable in assisting managers, they should be treated with some caution when predicting the future trend of the economy and thus helping the business to take effective decisions.

Task 2. Match the verbs (1–5) with the noun phrases (a–e) to form expressions from the text.

Task 3. Make your own sentences in English using the expressions from Task 2, read them aloud to the group and ask somebody to translate them. Change your roles.

Task 4. Scan the text again and decide whether these statements are true or false.

1.When the economy is enjoying a boom, firms experience low sales and general prosperity.

2.Changes in the state of the economy affect all types of business, though the extent to which they are affected varies.

3.As the economy moves towards a recession and a lower level of prosperity it is likely that unemployment figures will rise.

4.The unemployment figures for the economy give an indicator of the level of activity.

5.An alternative measure of the level of activity is national income statistics, which show the value of a nation’s output during a month.

6.Economic statistics are presented in many forms, the most rare being graphs and tables.

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Language review

Task 1. Use the pointed grammar tense and the voice at the end of each sentence to open the brackets correctly.

1.At such times, unemployment is low and many firms ... (to invest) funds to enable them to produce more (Future Progressive, Active Voice).

2.Various forecasters ... (to reckon) that the National Westminster

Bank’s losses in the case of Robert Maxwell’s collapsing business empire ... (to amount) to over £100 million (Past Simple, Active Voice).

3.You ... (to notice) probably that often the headlines in newspapers or important items on television news programmes relate to economic data (Future Perfect, Active Voice).

4.Profits declined and, in some cases, losses ... (to incur) (Past simple, Passive Voice).

5.Economic statistics ... (to present) in many forms, the most common being graphs and tables (Present Simple, Passive Voice).

Task 2. Make these sentences interrogative, then negative. Mind the grammar tense in each sentence and the necessary auxiliary verb.

The example: The unemployment figures for the economy give an indicator of the level of activity.

Do the unemployment figures for the economy give an indicator of the level of activity?

The unemployment figures for the economy don’t give an indicator of the level of activity.

1.The economy is complicated and difficult to control and predict.

2.In the recession of the early 1990s the high street banks suffered badly.

3.The government publishes through the Treasury, Department of Trade and Industry, the Bank of England, the Department of Employment.

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Task 3. Choose the correct word in the following sentences. Explain your choice

1.At / on such times, unemployment is low and many / much firms will be investing funds to enable them to produce more.

2.The main statistics illustrated / illustrating the economy’s behaviour relate to the level of / from activity in the economy.

3.Economists use / uses the term Gross National Product to describe this data / datas.

4.There is / are numerous sources of data on the economy of which we can make / made use.

5.This / these statistics can be valuable in assisting managers, they / them should be treated with some caution when predicting the future trend of the economy.

Writing

Translate the text from English into Russian and entitle it.

The economic environment consists of microeconomic and macroeconomic factors.

Microeconomic factors

The microeconomic environment refers to things that happen at the individual company or consumer level.

Microeconomic factors do not affect the whole economy. Below are some microeconomic factors that may influence a business:

Competitors.

Demand.

Market size.

Suppliers.

Supply.

How you supply your goods, i.e., the distribution chain. For example, through retail stores, distributors, the Internet, etc.

Macroeconomic factors

The macroeconomic environment, on the other hand, refers to things that affect the entire economy. Macroeconomics is concerned with general or large-scale economic factors, such as:

Unemployment.

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