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Файл:Английский язык для аспирантов. Учебное пособие-1
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Table 1. Weights of the components of the euro area HICP – 2023
Figure 1. Weights of the main components of the euro area HICP – 2023
From: Eurostat statistics explained http: ec.europa.eu/eurostat/statistics-
explained/index.php?title=Inflation_in_the_euro_area#Main_components_of_inflation
111
1. Study Figure 1.
А
B
1) fluctuate
a) impact
2) main
b) costs
3) contribute
c) major
4) influence
d) constitute
5) various
e) donate
6) make up
f) miscellaneous
7) expenditure
g) shift
a) What are the relative weights of the components of the headline inflation
for 2023 in the euro area?
b) Find in the sources the information and draw a similar table for the
inflation of the Russian Federation for 2023.
2. Study Table 1.
a) What are the non-durable goods? Provide the examples.
What are the semi-durable goods? Give the examples.
What is the weight of the components of the non-durable, semi-durable
and non-durable goods in the weight of the components of inflation in the
euro area?
b) What is the difference between the processed and unprocessed food?
What is the difference between the processed and unprocessed food in the
weight of the components of inflation in the euro area?
c) What kind of services are included in the weight of the components of
the inflation? What is their percentage in the weight of inflation in the euro
area?
d) What energy sources are included into the weight of the components
of inflation?
3. Render the meanings of the following notions.
a) What is included in the HICP (Harmonised Index of Consumer Prices)?
b) What is the PCI (Personal Consumption Expenditure)?
c) What is the Headline Inflation?
Find the context of these terms in the text.
Recall some economic terms related to Inflation.
4. Match the words in the column A with their synonyms in the column B.
5. Speak on the inflation in the euro area comparing it with the inflation
in the Russian Federation using the phrases below.
The article goes on to say that…
112
I’d like to speak about…
I’m going to speak about…
First of all, I’d like to tell you a few words about…
And now some words about…
It’s necessary to say that…
It should be noted / said / stressed that…
I’d also like to add that…
I think… To my mind… As you know…
In conclusion I can say that… In conclusion it should be said that… In
conclusion I’d like to say that…
6. Translate the text into Russian.
A Study on Strategic Initiative for Reinvigorating
Employee Engagement among Gen Z
Generations are shaped by the events and incidents they face during their
formative years. Young people during Great Depression after the war
experienced the traumas of war and partition, this generation shared
characteristics like patriotism, reverence to the nation, belief in government,
Millennial generation experienced the terrors of 9/11 and economic crisis the
world faced, that were life altering events for them, the workforce of this
generation was looking for job security and high rewards to keep their future
secured.
Recently, the corona virus has impacted everyone, and the long-term
impact is on Gen Z it will be years before correct data is available to
understand the impact of this experience on Gen Z.
Existing research can help employees what they should expect and how
they can manage their Gen Z employees today and in future. Importantly, for
the workforce to be equipped for development, employers will need to
address the requirements of fallouts from COVID-19 on the future
employees.
Gen Z are people born between the years 1996 to 2010, they are the first
generation to not know life without widespread internet use, and they age
around 16 to 25 years making them the young member of the workforce
today. Gen Z comprises about 44 percent of the work force by 2025,
globally many of the Gen Z live in Asia. It is imperative that younger
generation will occupy the boardroom and determine the policies which
govern the business world.
Gen Z are characterized as digital natives, and technology is their fifth
sense, work is more about what you do and less about where you do it. Gen
Z are better collaborative workers than the previous generation. 51% of new
113
generation workers view performance as linked with collaboration on both
employ – ________
form – ________
require – ________
honest – ________
responsible – ________
finance – ________
strategic and operational level.
Less than a quarter of companies have a strategy in place to specifically
cater to the needs of this generation in the job design. Some of the common
employee branding and engagement strategy for Gen Z are:
Gen Z will demand companies to be honest and transparent;
Honesty and confidence is rated as essential for leadership qualities;
8 seconds is the average attention span of Gen Z;
Healthcare, training, and workplace flexibility are common attraction
that drives Gen Z;
Gen Z would like to be associated with people who learn;
Gen Z retention drivers are advancement, learning, autonomy, and
balance in life.
Gen Z is focused on financial stability and responsibility, aspects of the
compensation package should be carefully planned. If the company is not
catering to their basic needs like health coverage, paid time off, clear
opportunities of career growth flashy perks might help in retaining this Gen
on jobs for long. Talking honestly about their career path and helping them
understand what learning opportunities are available can also build trust and
respect and help them envision a long-term strategy for retention and growth
for all employees. Offering autonomy on job can be highly attractive for this
generation. Flexibility and freedom are basic requirements for attracting
them to apply for the organizations, so it important to highlight them during
hiring process. Gen Z knows what they want, and they work hard and smart
enough. They prefer to work in an organization which has an extension of
their personality. They have eyes firmly on the career ladder shown to them
and make smart moves to climb them through learning opportunities, regular
feedback, and higher productivity. So today organizations should gear up
and make necessary changes to accommodate the changing preferences of
the coming generation at workplace.
From: Jayanthi R., & Mathews S. (2023). A Study On Strategic Initiative for
Reinvigorating Employee Engagement Among Gen Z. International Journal of
Applied Research in Management and Economics,6(1): 1-10) View of A Study On
Strategic Initiative for Reinvigorating Employee Engagement Among Gen Z
(dpublication.com)
1. Make up the derivatives from the following words, find them in the
text, reproduce them in your own sentences.
114
percent – ________
collaborate – ________
engage – ________
flexible – ________
prefer – ________
2. Match the words on the left in A to B on the right to make the
А
В
1) great
a) years
2) financial
b) generation
3) formative
c) natives
4) engagement
d) path
5) millennial
e) depression
6) digital
f) strategy
7) career
g) stability
collocations. Reproduce them in the context.
3. Answer the questions.
a) How can the present research help the employers? b) What is the Gen-
Z generation? What are they like? What is the percentage of the Gen-Z in the
workforce? c) What is the engagement strategy of the Gen-Z? d) What is the
Gen-Z focused on? e) What organizations does the Gen-Z prefer to work in?
f) What are the organizations to do to attract the Gen-Z for work?
4. Translate the text into Russian.
5. Write the summary of the excerpt.
Effect of Business Analytics on Market Adaptation:
Market Sensing and Product Management as Mediating Variables
Globally, there are dynamics in every aspect of life, and businesses
across the globe are not immune to these incessant changes. Marketing
particularly remains one of the aspects of business that has had its fair share
of dynamism hence the quest for market adaptation. According to Hindle,
market adaptation is necessary to keep firms in business at all times in the
face of an ever-changing world. One of the new attempts to cope with
market dynamism is the adoption of business analytics. This process entails
the collection, processing, and analyzing of data on relevant variables to the
business and applying them to update the marketing activities of the firms.
The eCommerce industry remains one of the industries with the required
technological resources to engage in business analytics effectively but the
reality today is that despite this, many firms in the industry still find it
difficult to adapt their marketing to new trends of changes and dynamics in
115
the business environment. This challenge has remained very severe
considering the rising mortality rate among new firms in the eCommerce
industry.
Suggestions from the literature have shown that product management and
market sensing might likely play some roles in aiding the effectiveness of
business analytics. However, if the roles of these two can improve the
impact of business analytics on market adaptation remains an issue to be
unraveled empirically. Exploration of the literature showed that studies have
been lopsided to some extent in terms of these four variables namely
business analytics, market sensing, product management, and market
adaptation. While some studies are concerned about business analytics alone
and market adaptation, some are about market sensing and business
analytics. The closest in the literature is the study of Fosso Wamba where
business analytics and market dynamics capabilities were studied by
investigating the mediating role of market sensing. This study will be
contributing more to both literature and knowledge by bringing in the
mediating roles of both product management and market sensing in
investigating the influence of business analytics on market adaptation.
Consequently, the following research question and objective are relevant to
the study.
From the findings of the studies, it can be concluded that the mediating
role of product management is more significant in the relationship between
business analytics and market adaptation than the mediating role of market
sensing. Furthermore, it is very evident from the empirical result that the
eCommerce industry may improve the effectiveness of their business
analytics on market adaptation if they engage in product management very
well rather than market sensing. In addition, this study has also shown that
business analytics impact product management significantly and this fact
remains the main reason why product management plays a major role in
reinforcing the effect of business analytics on market adaptation in the
eCommerce industry. This study recommends that firms, particularly the
ones in the eCommerce industry, should allow business analytics to dictate
changes to be made to their product lines, composition, and structures
among others (product management) and by this, they will be able to adapt
easily to changes in any market they find themselves. Despite the findings
and recommendations from this study, further studies can improve upon this
study by expanding the scope to other industries to see if the same findings
obtained in this study will be replicated for other industries.
From: Daodu Ladi & Bhaumik Amiya. (2023). Effect of Business Analytics on
Market Adaptation: Market Sensing and Product Management as Mediating
Variables. International Journal of Applied Research in Management and Economics.
5. 1-13. 10.33422/ijarme.v5i4.942.
116
1. Match the words on the left in A to B on the right to make the
А
В
1) market
a) industry
2) business
b) analytics
3) eCommerce
c) mortality
4) rising
d) resource
5) product
e) question
6) technological
f) management
7) research
g) adaptation
collocations. Reproduce them in the context.
2. Fill in the missing prepositions, find them in the text.
a) The economic system of this country is immune ____any outer influence.
b) He is certain to quest ________solving this puzzle.
c) He is sure to cope ____with this problem.
d) He will adapt this system _____the environment.
e) What is this study concerned _____?
f) This study will contribute ____the current state of the field.
g) Owing to his research he is likely to get to know how this phenomenon
influence_____the other one.
3. Complete the sentences using information from the text.
a) Market adaptation is necessary…….
b) One of the new attempts to cope with market dynamism is…………
c) It is very evident from the empirical result that the eCommerce
industry…
d) This study recommends that firms, particularly the ones in the
eCommerce industry………..
e) It can be concluded that the mediating role of product management is
more significant……….
f) This study recommends that firms…………
4. Write the text's summary.
5. Translate the text into Russian.
Causality between Financial Development, Economic Growth,
and Income Inequality in EU Countries
The link between financial development, economic growth, and income
inequality has attracted academic interest over the past years. The direction of
causality between financial development and economic growth has been
117
extensively investigated in the literature. Better financial functions provided by
the financial system can lead to economic growth through diversification and
concentration of risk, accumulation of physical capital, capital mobilization,
and increased productivity and technology. Several empirical studies support
the supply-leading hypothesis that the development of the financial system
leads to economic growth. On the contrary, several studies confirm the
demand-following hypothesis. In other words, financial development follows
economic growth since improving living standards leads to expanding demand
for financial services. More recently, two additional hypotheses have been
identified in the literature. The hypothesis of feedback causality, meaning the
existence of two-way causality between financial development and economic
growth. Finally, the neutrality hypothesis supposes the absence of causality
between financial and economic growth and the role of finance in economic
growth is overemphasized. In addition, some studies provide mixed results for
the direction of causality between financial development and economic
growth. Using time-series or panel data, researchers examine the causality
between financial development, economic growth, and income inequality and
carry out advanced econometric methods. However, the results remain in
conflict and are arising the need to investigate further the nexus between
financial development-economic growth, economic growth-inequality, and
finance-inequality.
The study investigates the causal relationships between financial
development, economic growth, and income inequality for 23 European Union
countries from 1987–2017, using ten proxies of financial development
representing different dimensions of banking and stock markets development
and employing the panel causality test developed by Dumitrescu-Hurlin. The
direction of causality between financial development, economic growth, and
income inequality is sensitive to the measurement of financial development.
Cross-sectional dependence implies that shocks to any country will potentially
be transmitted to other countries. The results reveal a one-way causality from
private credit, stock market capitalization, net margin interest rate, and Z-score
to economic growth, a two-way causality between bank assets, liquid
liabilities, non-performing loans, and economic growth, a one-way causality
running from economic growth to value traded and turnover ratio and no
causality between stock price volatility and economic growth. In addition, the
results indicate a one-way causality from inequality to economic growth.
Finally, a one-way causality exists from income inequality to financial
development, one-way causality from private credit to income inequality, a
two-way causality between bank assets and inequality, and an absence of
causality between income inequality and turnover ratio, Z-score, and stock
price volatility. The European Union countries need to adopt policies
118
promoting the expansion of the financial system through allocating credit to
inequality equality
sensitive responsive
growth fall
reveal conceal
increase decrease
private public
contract expand
boost force
nexus connection
foster discourage
А
В
1) income
a) liabilities
2) allocate
b) inequality
3) bank
c) loan
4) stock price
d) policies
5) non-performing
e) volatility
6) liquid
f) credits
7) adopt
g) assets
the private sector and easing access to financial services. Also, significant
decisions related to the stability of the banking system are needed to support
economic growth. However, policies that can boost economic activity will
encourage stock market development, and better income distribution could
lead to more financial development, stability, and efficiency and foster
economic growth.
From: Sotiropoulou, T., Georgopoulos, A.,& Giakoumatos, S. (2022). Causality
Between Financial Development, Economic Growth, and Income Inequality in EU
Countries. International Journal of Applied Research in Management and
Economics,5(1):1-13. View of Causality between financial development, economic
growth, and income inequality in EU countries (dpublication.com)
1. Write S if the words are similar in meaning and O if the words are
opposite.
2. Match the words on the left in A to B on the right to make the
collocations. Reproduce them in the context.
3. Complete the sentences using information from the text.
a) The hypothesis of feedback causality, meaning the existence of two-way
causality between _______.
b) The neutrality hypothesis supposes the absence of causality between___.
c) Using time-series or panel data, researchers examine the causality
between _____.
d) The study investigates the causal relationships between _______.
e) The results reveal a one-way causality _______.
f) The European Union countries need to adopt policies promoting the
expansion of the financial system through _______.
119
4. Write the text's summary.
5. Translate the text into Russian.
Luxury in a Post-Growth Society – Success or Disparity?
First Prospective Results
The compulsion regarding growth to which not only the economy, but also
politics, is subjected in the leading industrial nations leads to negative effects
in the individual sectors, the economy as a whole and society. Since the 1960s,
alternatives have been developed that address the shift towards a post-growth
society. The main goal is to work out how to contain or at least mitigate the
negative social and environmental impacts that have arisen. In this study, the
authors explore what changes can occur through the emergence of a postgrowth society, focusing on the economic sector. In the currently prevailing
growth society, luxury goods find a place at the top of the consumption
pyramid. Consumers express symbols of power, group membership,
individuality, status, and uniqueness through the consumption and use of
luxury goods. These values have played a significant role in society for years.
When the concept of a post-growth society is discussed, the picture it
paints is one of different, sometimes conflicting, attitudes and values on the
part of society with regard to its consumption behavior. This creates the
image that the luxury market no longer has a role to play in a post-growth
society, or that it is diametrically opposed to it. Currently, no study directly
links to degrowth or post-growth debate with the luxury market.
It is clear that a change in values is currently taking place in society.
Both the literature and the experts' statements indicate that society is
becoming more aware of consumption, and that hyperconsumption is
becoming unthinkable for some groups in society. In addition, more
sustainable consumption patterns are becoming established in society as a
whole. Both experts and consumers indicate that they are at least partially
prepared to reduce or limit their consumption in the interests of social
justice. This shows that today's society already cares about the common
good. A change toward a post-growth society is thus not only predicted by
the experts, but is already underway, even if the final establishment will be a
long-term process. However, it is equally apparent that there will always be
a section of society that focuses on consumption rather than the common
good. With regard to the integration of the luxury market into a post-growth
society, the experts interviewed agree that this is feasible. At the moment,
disparities between the luxury market and the post-growth society still
prevail, but before and in a post-growth society, luxury will have to define
itself differently. Luxury companies will have to engage with consumers and
society, produce and operate sustainably and comprehensibly for customers,
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