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3. Complete the summary of the text. Fill in each gap with one word.
The study aims to explore students' motives to obtain ___ education in
the UK. The researchers surveys 1002 undergraduate students in England to
understand their beliefs about the returns and ____ to enroll in a
postgraduate degree. The study uses hypothetical investments scenarios to
understand students' perceptions of immediate and later-life _____. Results
show that first-generation undergraduate students have a 5 percentage point
lower likelihood of continuing to postgraduate education compared to
continuing-generation students. Around 70% of the first-generation vs.
continuing-generation gap in students' intentions to enroll in a postgraduate
degree can be accounted for by differences in beliefs about ____. Students
with at least one parent with a postgraduate degree state have an ___
percentage point higher likelihood of enrolling in a postgraduate degree.
Differences in beliefs can explain a significant portion of this gap.
4. Answer the questions.
a) What is the focus of the paper?
b) What is skill-biased technological change?
c) How is rising wage inequality linked to skill-biased technological
change?
d) What is the difference in likelihood of continuing to postgraduate educa-
tion between first-generation and continuing-generation undergraduate
students?
e) Can differences in beliefs about returns account for the socioeconomic
gap in students’ intentions to pursue postgraduate education?
f) How many undergraduate students were surveyed in England in this
study?
5. Translate the excerpt into Russian.
Regional Economics Development Strategy Rubrics
(1)Although a robust literature on the theory, organizational apparatus,
planning process and individual policy and planning tools undergirding RED
exists, there has been less written that synthesizes the main approaches to
planning action from the perspective of broader strategy. This section groups
development options and approaches into five broad rubrics that might be
pursued as RED strategy, either singly or in combination.
(2)The goals and needs of many regional economies will align well with
one or two of the rubrics, and elements of all are likely to influence planning
in some rapidly changing regions. Our hope is that this schema, along with
an accounting of each rubric’s conceptual underpinnings, helps make the
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various strategic options and approaches open to RED planners more legible.
In a few economically successful regions, a potent mix of infrastructure
facilities, educational offerings, public- and business-serviced sites and
structures, agglomeration advantages, efficient public administration, and
taxes proportional to benefits has been built up over time.
(3)Regular indigenous business formation and expansion, as well as
inward investment, are ensured by offering business investors a portfolio of
local advantages that support productive and cost-effective operations. In
those fortunate places, RED planning is matter of cultivating the region’s
competitive business environment (CBE) by attending to these seemingly
mundane but vitally important features with efficient public administration
and sound regional planning.
(4)For a majority of regions, the absence of one or more elements of a
thriving CBE calls for a more active and engaged RED approach. Regions
that possess only a rudimentary CBE must eventually remedy their worst
shortcomings to make progress, while also undertaking one or more of the
following general strategies as a means of mobilizing the attention of local
citizens and external investors around potential development prospects:
Acquiring/retaining direct investment in regional industries;
Clustering the regional economy;
Restructuring the regional industrial base;
Stabilizing the regional economy;
Sustaining the regional economy
(5)Regional Economy Industrial or regional clusters are groupings of
industries whose firms gain benefits from close proximity or other
connections. They routinely result from advantage-seeking owners and
entrepreneurs who recognize the agglomeration advantages of co-location and
possible cooperation. A large literature now exists of how to stimulate and
support clusters, much of which promotes various consultation services that
advance the idea that cluster success depends upon regional interventions to
coordinate and manage inter-firm relations as the means of recognizing and
securing shared advantages (Feser, 2009). Industry targeting efforts using
clusters as a framework often focus most intently on the intersection of
industrial and occupational affinities, an idea originally proposed by Wilbur
Thompson (Thompson and Thompson, 1985, 1987). Policies that promote
cluster formation and development are most valuable in regions with relatively
weak economies lacking the market incentives behind the formation of selfinterested de facto clusters in more advanced regions.
From: Bergman, Edward & Feser, Edward. (2017). Regional Economic
Development. 10.13140/RG.2.2.26251.95529. https://www.researchgate.net/
publication/333390300_Regional_Economic_Development
102

1. Scan the text to find these ideas. Write the paragraph number on the line.
a) Most regions lack a thriving competitive business environment,
necessitating a more active RED approach. To progress, these regions
should address their shortcomings and implement strategies like acquiring
investment, clustering, restructuring, stabilizing, and sustaining the
regional economy.
b) Although there is a sizable body of literature on the philosophy, structure,
planning procedure, specific policies and instruments that support RED,
there hasn't been as much written on a more comprehensive strategy.
c) Regional Economy Industrial clusters are groups of industries that benefit
from proximity or connections. They are often formed by advantageseeking owners and entrepreneurs who recognize the agglomeration
advantages of co-location and cooperation.
d) Regional economies' goals align with rubrics, influencing planning in
rapidly changing regions. Successful regions have a mix of infrastructure,
education, public services, agglomeration advantages, efficient
administration, and proportional taxes.
e) RED planning ensures indigenous business formation, expansion, and
inward investment by providing local advantages and efficient public
administration, fostering a competitive business environment.
2. Choose the correct word or phrase.
a) The company is taking a more robust/ incentive approach to management.
b) Domestic prices have been advanced/aligned with those in world markets.
c) Technical background documents formed the analytical indigenous
/underpinning for the political decisions and actions approved at the
Summit.
d) Interns were given only rudimentary/robust training in the job so they
asked mentors for help quite often.
e) There is an added intervention/incentive for customers to buy from our
catalogue – a free gift with every purchase.
3. Complete the summary of the text. Fill in each gap with one word.
The literature on Regional ________Development (RED) is extensive,
but there is a lack of a comprehensive strategy for planning action. This
section presents five broad rubrics for RED ________, which can be pursued
individually or in combination. Successful regions often have a mix of
infrastructure, educational offerings, public- and business-serviced sites,
agglomeration advantages, efficient public administration, and ____
proportional to benefits. RED planning involves cultivating the region's
competitive business ________ (CBE) through efficient public
administration and sound regional planning. However, most regions lack a
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thriving CBE and need to address its shortcomings. Strategies for RED
include acquiring/retaining direct investment in regional industries,
clustering the regional economy, restructuring the industrial base, stabilizing
the regional economy, and sustainability. __________ are groupings of
industries that benefit from proximity or connections.
4. Do the following statements agree with the information in the text?
(Write TRUE if the statement agrees with the information; FALSE if the
statement contradicts the information; NOT GIVEN if there is no
information on this).
a) There is extensive literature on the theory, planning process and tools of
RED.
b) The article’s authors anticipate that their work will make RED strategic
approaches more understandable.
c) A competitive environment is the market space within which companies
compete against each other to gain market share.
d) Some regions with a little CBE must address their biggest issues in order
to advance.
e) Co-location and cooperation between regions does not have any
significant advantages.
5. Translate the excerpt into Russian.
The Effect of Top Managers’ Years of Experience on Innovation
Small- and medium-sized enterprises (SMEs) rely on innovation for
growth. Innovation brings people into a competitive market and provides
new markets and job opportunities. Researchers striving to identify variables
that increase and encourage organizational innovation have turned their
attention to the function of leaders. Several studies have investigated the role
of leadership in organizational innovation and have revealed crucial
characteristics, such as leader behaviors or attributes, which have a
significant influence on organizational innovation (...).
The Upper Echelons Theory, published in 1984 by Hambrick, Donald,
and Phyllis A. Mason, is one of the most well-known theories. The main
idea is that managers, particularly those in positions of authority, are
presented with complex, ambiguous, and diverse inputs, thereby making it
challenging to make technical decisions. Instead, they depend on mental
shortcuts and prior experience, and impose their personal interpretations of
events and possibilities. Leadership, which plays a dominant role in a firm,
is one of the most important components of organizational innovation (Jung
et al., 2008).
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Experience is a key component of the Upper Echelons Theory, although
organizational – ___________
significant – ___________
ambiguous – ___________
mental – ___________
distinctive – ___________
managerial – ___________
it has received insufficient attention. Intention is a human's perspective of
probable behavior in light of his or her experience and attention (Bird,
1988). Decisions that influence firm performance are based on a leader's
long-term exposure to similar events and the lessons learned in such events.
Top management is the first and last point of contact for innovation. Senior
management support is critical for innovation (Thoen and Robitschek,
2013). Therefore, the issue arises as to whether top management experience
impacts innovation.
Top managers are the lifeblood of SMEs, as they hold the company's
ultimate decision making power. The literature provides a thorough analysis
of how managers may consider their enterprises as instruments for attaining
their values and beliefs rather than mere profit-making. Managers may
encourage or reject ideas that do not align with their beliefs. These top
management qualities are impacted by a variety of elements, including
cultural, religious, and intellectual influences, and have varying effects on
how they perceive innovation. We postulate that years of experience reduce
the effect of managers' distinctive inclinations. This is especially true when
there is a high degree of rivalry and a high level of collapse. Elon Musk's
ideas and philosophies have been the key drivers of his innovativeness, but
his extended learning and exposure have made him even more successful.
Our study contributes to the literature because by relying on institutional
theory and the theory of higher echelons, we prove the positive impact of
development on the innovation of enterprises in developing countries with
growing experience in managerial competencies.
The remainder of this paper is organized as follows. First, we describe
the results of previous work in the field of institutional economics and the
Upper Echelons Theory, which is the theoretical basis for our study. Then,
within the framework of the methodology section, we justify and formulate
the hypotheses, characterize the variables included in the model, present the
results of our modeling, and draw conclusions from our model. In the final
section, we formulate conclusions.
From: Okrah J., Bridget Irene B. The effect of top managers’ years of experience on
innovation. International Journal of Innovation Studies. 2023. Volume 7 (3): 208-217
https://www.sciencedirect.com/science/article/pii/S2096248723000115
1. Write the word from the text to complete the phrases (e.g. affordable
– affordable housing).
105

2. Choose the correct word or phrase.
Upper Echelons Theory is a management / economics theory that
suggests that the decision-making of an organization is largely determined
by the characteristics of its employees/leaders. It proposes that
organizational outcomes are the result of top executives' decisions /
diversities and behaviors, rather than external environmental factors or
internal organizational factors. The theory suggests that senior managers’
characteristics, such as values, beliefs, and mental models, are critical for
understanding organizational behavior. It argues that, as senior / junior
managers are the ones who interpret the environment and make decisions,
the characteristics of those managers shape the organization’s strategies and
outbreaks / outcomes.
3. Complete the summary of the text. Fill in each gap with one word.
The expansion of small and medium-sized businesses depends on
_________, and ______ management is essential in promoting this
innovation. According to the Upper Echelons Theory, managers -especially
those in positions of authority – are faced with a variety of complicated,
unclear, and confusing ____ that make it challenging for them to make
______ judgments. A crucial element of the theory, experience, has not
gotten enough emphasis. As the initial and final point of contact for
innovation, top management's experiences can have an influence on the
field. The study investigates top managers' inclination to innovate via
experience. The findings indicate that a manager's ______ to innovate grows
with their level of experience.
4. Do the following statements agree with the information in the text?
(Write TRUE if the statement agrees with the information; FALSE if the
statement contradicts the information.)
a) Innovation is essential to the expansion of small and medium-sized
businesses.
b) Managers find it difficult to make technical judgments since they are
faced with a variety of complicated, confusing, and diverse information.
c) The article’s authors assume that many years of experience strengthen
the influence of distinctive inclinations of managers.
d) It is not clear from the excerpt what the theoretical foundation for the
study is.
e) A good example of upper echelons theory is the case of Apple, which has
been hugely successful under the leadership of Steve Jobs. Jobs was a
creative and innovative leader who had an immense influence on the
company's strategies, product design, and customer experience.
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5. Translate the excerpt into English using the key vocabulary from the
text above.
Основной содержательный посыл статьи Хэмбрика и Мэйсон таков:
люди являются главным инструментом рождения и реализации всех
организационных идей и стратегических решений, поэтому организации в определенном смысле представляют собой отражения личностей
возглавляющих их топ-менеджеров. Высшие эшелоны власти в
компаниях (топ-менеджеры) выбирают поле деятельности – компании
– и организуют их деятельность, опираясь на свой личностный и
профессиональный «багаж». Проблема диагностики этого «багажа» и
прогноза его влияния на объективные результаты организации имеет
принципиальное значение. Суть «теории высших эшелонов» заключается в следующих положениях:
стратегический выбор, принимаемые стратегические решения
выступают отражением ценностей и когнитивных особенностей
влиятельных действующих лиц компаний;
в свою очередь, ценности и когнитивные особенности этих лиц
являются функцией ряда характеристик, таких как возраст,
образование, опыт работы, финансовое положение и др.;
существует взаимосвязь организационных результатов с характе-
ристиками управленцев.
How Managers Can Reduce “always on” Work Stress in Teams:
an Optimal Work Availability Framework
(1) Many managers and professionals struggle with stressful always-on
availability expectations that keep them constantly connected to electronic
work (e-work) messages. These expectations are particularly pressing in
today's global economy that involves 24/7 operations and necessary
communication with others in different time zones outside of the traditional
eight-hour day. Although being available by email and text has flexibility
benefits, workers also feel captive to requests from others at all hours.
Management advice typically focuses on individual strategies to set
boundaries around availability to respond to e-work messages, like limiting
email checking or switching off notifications. Yet e-work communications
operate in a social system – managers must consider team discussion
strategies to solve this problem.
(2)Asking employees to simply turn off notifications or ignore messages
neglects the social context of this problem. Team members might fear that
slow responsiveness will negatively affect them at work. This concern is
valid; employees who individually set e-work message boundaries receive
complaints or comments regarding their lack of commitment. There is also
107

an underlying tension between individual work flexibility and effective team
collaboration. Responding and sending messages during times that are “out
of sync” with coworkers escalates the expectations to stay connected based
on other people’s work schedules. Therefore, managers should help their
teams collectively set expectations for availability in e-work messages to
effectively reduce employee stress arising from an always-on work culture.
(3)This article provides managers with guidance on how to develop
shared expectations regarding when and how their employees should
respond to e-work messages to improve employee well-being and efficiency
in their teams. This article is most relevant to managing employees who
communicate regularly using e-work messages and have less formally
structured work time (i.e., salaried employees); they are most likely to
struggle with pressures to work anytime and anywhere. It is also relevant to
managing teams that use message-based communications regardless of
whether the team works in-person, remotely, or both (hybrid).
(4)We first discuss how managers can identify symptoms of always-on
availability. We then outline an Optimal Work Availability (OWA)
framework to help managers lead discussions to achieve sustainable work
availability expectations in their teams when using e-work communications.
OWA aims to reduce unrealistic and problematic expectations of continuous
availability by employing three key guiding principles for defining work
availability: consideration, coordination, and clarity.
(5)The widespread use of smartphones, along with a shift to remote work
in many jobs, has increased e-work communication expectations concerning
availability (when people should be able to see requests) and responsiveness
(how fast they should respond). The felt pressure to always be available and
respond to work messages immediately can occur both during work and after
hours. At work, employees struggle to make progress on their own work
tasks given frequent disruptions from team member messages (especially
when they aren’t urgent). Getting after-hours work requests can also leave
workers feeling like they never have time to relax or enjoy their time with
family or friends at home. This pressure to stay connected can be detrimental
to worker effectiveness and well-being, resulting in stress and work burnout.
(6) Managers play an important role in facilitating team discussions to
reduce employee feelings of stress arising from e-work messages. The
ability to connect to work anytime and anywhere does not always improve
efficiency and well-being – it may even backfire into information overload
and strain. Shifting to an optimally-on approach to e-work messages can
help workgroups develop an action plan for e-work availability expectations
and work processes that best fit their work context. Managers can use the
OWA framework to guide discussions that help workgroups understand the
108

social dynamics of staying connected online. Although specific solutions
accessibility – ________ (1st par.)
reasonable – ________ (2nd par.)
dedication – ________ (2nd par.)
timetable – ________ (2nd par.)
effectiveness – ________ (3rd par.)
deliberation – ________ (4th par.)
disturbance ________ (5th par.)
harmful ________ (5th par.)
might look different for each workgroup based on the nature of their work
tasks, intentionality about consideration, clarification, and coordination
strategies is key.
From: Barber L.K., Kuykendall L.E., Santuzzi A.M. How managers can reduce
“always on” work stress in teams: An optimal work availability framework.
Organizational Dynamics. Volume 52, Issue 3, 2023, 100992, ISSN 0090-2616,
https://doi.org/10.1016/j.orgdyn.2023.100992.
https://www.sciencedirect.com/science/article/pii/S0090261623000360
1. Find synonyms for these words in the text (e.g. anxiety – stress).
2. Choose the correct word or phrase.
a) The government is trying to trying to improve the vacancy/availability of
affordable housing.
b) If things have gotten out of sync/out of the blue with your peers or the
project’s goal, do your best to return things to their properly balanced
state.
c) The scriptwriter finished writing two more episodes of the series before
other loyalties/commitments forced him to put them aside.
d) After long commitment/consideration he agreed to their conditions.
e) There needs to be better coordination/obstinacy between departments.
f) There were serious concerns that the factory's waste was favourable/
detrimental to the local environment.
g) Some critics say that these proposals might backup/backfire.
3. Complete the summary of the text. Fill in each gap with one word.
Managers and professionals often face ____ due to always-on availability
expectations in the global economy, which requires constant _______ with
others in different time zones. This can lead to feelings of being captive to
requests from others at all _____, which can negatively affect team
members. To address this issue, managers should help their teams
collectively set expectations for availability in e-work messages. This article
provides guidance on developing shared expectations regarding when and
how employees should respond to e-work messages, improving employee
well-being and ______. The Optimal Work Availability framework can help
______ lead discussions to achieve sustainable work availability
109

expectations in their teams. The OWA framework aims to reduce unrealistic
expectations of continuous availability by employing three key principles:
consideration, coordination, and ____. Managers play a crucial role in
facilitating team discussions to reduce employee stress arising from e-work
messages, as the ability to connect anytime and anywhere may _____ into
information overload and strain.
4. Answer the questions.
a) What does being “always on” mean?
b) Why do employees might not want to turn off notifications or ignore
messages after working hours?
c) Explain the meaning of the idiom “out of sync”.
d) Who is this article mostly relevant to?
e) What does the acronym OWA stand for? What is OWA aimed at?
f) What problems can constant availability cause?
g) Name three key principles for marking the limits of work availability.
5. Translate the excerpt into Russian.
Euro Area Annual Inflation Rate and Its Main Components
Euro area annual inflation was 4.3% in September 2023, down from
5.2% in August 2023.
Looking at the main components of euro area inflation, food, alcohol &
tobacco had the highest annual rate in September (8.8%, compared with
9.7% in August), followed by services (4.7%, compared with 5.5% in
August), non-energy industrial goods (4.1%, compared with 4.7% in
August), and energy (– 4.6%, compared with – 3.3% in August).
Main components of inflation
Each of the main components contributes in varying degrees to the
headline inflation in the euro area. In terms of weights for 2023, with 100%
for the headline HICP, services is the largest component, accounting for
around 43.5% of household final monetary consumption expenditure in the
euro area. It is followed by non-energy industrial goods with around 26.3%.
Food, alcohol & tobacco and energy account for around 20.0% and
10.2%, respectively. Together, they comprise less than one third of euro area
expenditure, but they can have significant impacts on the headline inflation
as their prices tend to fluctuate significantly more than the other
components'.
The weights of the main components of the euro area for 2023 are
presented in Figure 1. Table 1 shows their relative weights for 2023.
Table 1 shows their relative weights for 2023.
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