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Файл:Professional English for economists. Учебное пособие для СПО
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the population from rising above the subsistence level. Malthus also questioned the
automatic tendency of a market economy to produce full employment. He blamed
unemployment upon the economy's tendency to limit its spending by saving too much, a
theme that lay forgotten until John Maynard Keynes revived it in the 1930s. Coming at the
end of the Classical tradition, John Stuart Mill parted company with the earlier classical
economists on the inevitability of the distribution of income produced by the market
system. Mill pointed to a distinct difference between the market's two roles: allocation of
resources and distribution of income.
The market might be efficient in allocating resources but not in distributing income,
he wrote, making it necessary for society to intervene. Value theory was important in
classical theory. Smith wrote that the "real price of every thing ... is the toil and trouble of
acquiring it" as influenced by its scarcity. Smith maintained that, with rent and profit,
other costs besides wages also enter the price of a commodity. Other classical economists
presented variations on Smith, termed the 'labor theory of value'. Classical economics
focused on the tendency of markets to move to long-run equilibrium.
1.6.2. Retell the text in English using following words and phrases in your speech:
identify - идентифицировать, отождествлять;
labor – труд;
nation's wealth - благосостояние нации;
a self-regulating market system - саморегулирующаяся рыночная система;
competitive markets - конкурентные рынки;
approach – подход;
notable - выдающийся человек;
economic thought - экономическая мысль;
landowner – землевладелец;
diminishing returns - сокращающиеся доходы;
living standards - стандарты жизни;
inevitability – неизбежность;
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allocation - распределение, локализация;
value theory - теория стоимости;
long-run equilibrium -долгосрочное равновесие.
1.7 Discussion
1.7.1 Discuss with your group the economic situation in your country. Name its
positive and negative sides. Speak about the global crisis; suggest measures to improve the
economic situation in Russia. Use such conversational as:
- I suppose, I think, I consider …;
- In my opinion ...;
- From my point of view …;
- On the one hand, on the other hand …;
- To begin with …;
- I’d like to point out the fact that …;
- Actually ... .
1.7.2 Find information about prominent economists of the past or present. Make a
report about one of them. Your report should include such points as:
1) Biography;
2) Economic ideas/ works;
3) Prove your choice.
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2 Unit 2 Economic activity
2.1 Speaking drills
1) What do you call “activity”?
2) Who are “active people”?
3) What is economic activity?
2.2 Useful words and phrases
economic activity – экономическая деятельность
to define – определять
to expect – ожидать
influence – влиять
interrelationship – взаимосвязь
corporate profits – корпоративные доходы, общий доход
inflation-adjusted market value – рыночная стоимость с поправкой на инфляцию
to measure – измерять
economic growth – экономический рост
full employment – полная занятость
to distinguish – выделять, различать, отличать
to advance – иметь преимущество, лидировать, быть впереди
to eliminate – сокращать, устранять, избегать
national income accounting – учёт национального дохода
2.3 Vocabulary skills
2.3.1 Explain the meaning of the following adjectives:
- economic;
- economical;
- demographic;
- intensive;
- domestic.
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2.3.2 Give antonyms to the following words:
- former;
- children;
- active;
- high;
- demand;
- labour;
- increase.
2.4 Reading skills
2.4.1 Economic activity. Economic growth
Economic activity in general is usually defined as production and distribution of
goods and services at all levels. Economic activity and expected future levels of it have an
important influence on security prices because of the interrelationship between economic
activity and corporate profits, inflation, interest rates, and other variables. One frequently
used measure of economic activity is the gross domestic product (GDP).
Economic growth is the increase in the inflation-adjusted market value of the goods
and services produced by an economy over time. It is conventionally measured as the
percent rate of increase in real gross domestic product, or real GDP. The growth of the
ratio of GDP to population is one of the most important factors in economy (GDP per
capita, which is also called per capita income). An increase in growth caused by more
efficient use of inputs (such as physical capital, population, or territory) is referred to as
intensive growth. GDP growth caused only by increases in the amount of inputs available
for use is called extensive growth.
In economics, "economic growth" or "economic growth theory" typically refers to
growth of potential output, i.e., production at "full employment". As an area of study,
economic growth is generally distinguished from economic development. The former is
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primarily the study of how countries can advance their economies. The latter is the study
of the economic development process particularly in low-income countries.
Growth is usually calculated in real terms. These are the inflation-adjusted terms.
This is used to eliminate the distorting effect of inflation on the price of goods produced.
Measurement of economic growth uses national income accounting. Since economic
growth is measured as the annual percent change of gross domestic product (GDP), it has
all the advantages and drawbacks of that measure.
Demographic factors may influence growth by changing the employment to
population ratio and the labor force participation rate. Industrialization creates a
demographic transition in which birth rates decline and the average age of the population
increases.
Women with fewer children and better access market employment tend to join the
labor force in higher percentages. There is a reduced demand for child labor and children
spend more years in school. There are other factors which are also very essential for
economic growth. Their importance for each single economic system may differ.
2.4.2 Say if you agree or disagree with the statements
1. Economic growth doesn’t depend on any factor
2. One of the measures of economic activity is the gross national product
3. The growth of the ratio of GDP to population is important for the economy
4. Women with more children tend to join the labor force in higher percentages
5. Demographic factors do not influence economic growth
2.4.3 Retell the text. Say some words about the economic situation in Europe, USA,
Russia
2.4.4 Translate the text. Write out the words and phrases in italics, translate and
memorize them
Economics is the science that concerns itself with economies, from how societies
produce goods and services, to how they consume them. It has influenced world finance at
many important junctions throughout history and is a vital part of our everyday lives. The
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assumptions that guide the study of economics, have changed dramatically throughout
history.
Adam Smith is widely credited for creating the field of economics, however, he was
inspired by French writers, who shared his hatred of mercantilism. In fact, the first
methodical study of how economies work, was undertaken by these French physiocrats.
Smith took many of their ideas and expanded them into a thesis about how economies
should work, as opposed to how they do work.
Smith believed that competition was self-regulating and that governments should
take no part in business through tariffs, taxes or any other means, unless it was to protect
free-market competition. Many economic theories today are, at least in part, a reaction to
Smith's pivotal work in the field. Karl Marx and Thomas Malthus had decidedly poor
reactions to Smith's treatise. Malthus predicted that growing populations would outstrip
the food supply. He was proven wrong, however, because he didn't foresee technological
innovations that would allow production to keep pace with a growing population.
Nonetheless, his work shifted the focus of economics to the scarcity of things, versus the
demand for them. (For related reading, see Economics Basics: Demand and Supply.)
This increased focus on scarcity led Karl Marx to declare that the means of
production were the most important components in any economy. Marx took his ideas
further and became convinced that a class war was going to be initiated by the inherent
instabilities he saw in capitalism. However, Marx underestimated the flexibility of
capitalism. Instead of creating a clear owner and worker class, investing created a mixed
class where owners and workers hold the interests of both classes, in balance. Despite his
overly rigid theory, Marx predicted one trend: businesses grew larger and more powerful,
in accordance to the degree of free-market capitalism allowed.
2.4.5 Make up a sentence using each word or word combination in italics
2.4.6 Ask 5 types questions to the text 2.4.4
2.4.7 Find some additional information about economists of the past and present,
make up a report in the form of presentation on the history of economic thought. Retell the
text
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3 Unit 3 Getting the job
3.1 Speaking drills
3.1.1 Answer the following questions:
1) What steps are necessary to take to get a job?
2) What job do you consider to be the most suitable for you?
3) What manner of behavior is more preferable for an interview?
3.1.2 Range the following things which will help people to find a good job,
beginning with the most significant one:
good acquaintances;
excellent knowledge of the specialty;
communication skills;
official clothing style ;
excellent abilities to represent yourself, official manner of speech;
experience in your field;
correct and attractive resume;
education;
leadership qualities;
wide world outlook;
abilities to find professional information in different media and internet sources.
3.2 Useful words and phrases
3.2.1 Words and phrases:
job advertisements - объявления о работе;
executive position - руководящая должность;
comparison - сравнение, сопоставление;
an essential piece of information - важная часть информации;
applicant - заявитель, претендент, соискатель;
mention – упоминать;
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fringe benefits - дополнительные льготы;
- job seekers;
- bonus;
- applicants;
- confidence;
- shortlist;
- doctorate;
- candidates;
- advertisement;
- qualifications;
- enthusiasm;
- initiative;
- company car;
- diploma;
- interview;
- degree;
- interviewees;
- job offer;
- independence;
- pension plan;
- health insurance.
demand – требование;
educational standards - образовательные стандарты;
executive board - совет директоров;
instead – вместо;
personality-driven - личностно-ориентированный;
novice – новичок;
analytical aptitude - аналитические способности;
independence - независимость, самостоятельность;
conception of management - концепция управления.
3.3 Vocabulary skills
3.3.1 Match the words and expressions in the box with the headings below:
1) fringe benefits
_____________________________________________________________;
2) education
_____________________________________________________________;
3) stages in recruiting
_____________________________________________________________;
5) people looking for work
_____________________________________________________________;
4) personal qualities
_____________________________________________________________;
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3.4 Reading skills
3.4.1 Recruitment. Job Ads: Reading Between the Lines
Checking out job advertisements is popular with executives worldwide. But though
the activity is universal, is the same true of the advertisements? Are executive positions in
different countries advertised in the same way? A comparison of the jobs pages of The
Times of London, Le Monde of Paris and Germany's Frankfurter Allgemeine Zeitung
suggests not.
First, what UK job seekers consider an essential piece of information -what the post
pays - is absent from French and German adverts. It is often left to applicants to raise this
themselves. In contrast most British advertisements mention not only salary, but also other
material incentives including a car and fringe benefits. French or German advertisements
rarely refer to these.
The attention given to rewards in the UK indicates the importance of the job and its
responsibility. In France and Germany, that information is given by the level of experience
and qualifications demanded. Salary can be assumed to correspond with this.
If French and German adverts are vague about material rewards, they are precise
about qualifications. They usually demand 'a degree in ...', not simply 'a degree'. In
Germany, for example, a technical director for a machine tool company will be expected
to have a Dipl.-Ing degree in Mechanical Engineering.
French advertisements go further. They may specify not just the type of grands
ecole degree, but sometimes a particular set of institutions (Formation superieure X,
Centrale, Mines, НЕС, ESSEQ), these being the most famous grandes ecoles.
All this contrasts with the vague call for 'graduates' (or 'graduate preferred') which is
found in the UK. British companies often give the impression that they have a particular
type of applicant in mind, but are not sure about the supply and will consider others. Their
wording suggests hope and uncertainty, as in this advertisement from The Times: 'Whilst
educational standards are obviously important, a large measure of personal oomph is likely
to secure the success of your application.
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In the UK qualifications beyond degree level make employers nervous, but in
France or Germany it is difficult to be 'overqualified'. Many people on German executive
boards have doctorates and the French regard five or six years of intensive postbaccalaureat study at a grand ecole as ideal training. British managers are not selected
primarily for their intelligence, as managers are in France, or for their expert knowledge,
as in Germany. Instead, the British give importance to social, political and leadership
skills.
This difference also shows in the personal qualities mentioned. British
advertisements stress energy, ability to communicate and motivate. German
advertisements like achievement, but it tends to be less personality-driven. German
companies want candidates with sound knowledge, experience and competence in their
field. They rarely recruit novices as do British employers. French advertisements refer
more to intellectual qualities like analytical aptitude and independence.
Even the tone of the job advertisements is different in the three countries. By French
and German standards, British advertisements are very racy. They attract young executives
with challenges such as: 'Are you reaching your potential?', whereas French and German
advertisements are boringly direct, aiming to give information about the job rather than to
sell it.
All this points to three different conceptions of management. The French regard it
as intellectually complex, the Germans as technically complex, and the British as
interpersonally complex. But they agree on one thing: it's complex.
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