- •Белорусский государственный университет
- •Предисловие
- •1. Profession of an economist
- •Vocabulary Focus
- •1. K p. A. – one thousand per annum.
- •Ex. 3. Express in one word.
- •Comprehension
- •Degrees in Economics
- •Basic Courses
- •Supporting Courses
- •Required Courses Year 1
- •Questions
- •Outstanding Economists
- •The Founder of Economics
- •David Ricardo (1772–1823)
- •John Maynard Keynes (1883-1946)
- •Writing
- •Study the biographical data of Michael Del and Ingvar Kamprad, find the information about famous businessmen and write it down as in the examples that follows the tables.
- •Michael Dell
- •Timeline
- •Ingvar Kamprad Timeline
- •Example
- •Translation a. Translate into Russian. Woman’s Place in Management
- •B. Translate into English.
- •Listening
- •Speaking
- •Vocabulary academic adj – 1. Университетский; академический; учебный; 2. Чисто теоретический; 3. Фундаментальный (в противоположность прикладному)
- •Salary n – жалованье, оклад self-employed adj – обслуживающий свое собственное предприятие; работающий не по найму
- •2. Economics as a science
- •2.1. Economics and Economic Methods
- •Economics: the Study of Scarcity and Choice
- •Vocabulary Focus
- •Opportunity Cost
- •Satisfying People’s Wants
- •Methodology
- •Economic Theory and Models
- •Speaking Discuss the following questions.
- •Vocabulary
- •Economic systems
- •Vocabulary Focus
- •Translation a. Translate the text from English into Russian. Classification of Countries
- •Vocabulary
- •3. The macroeconomy
- •3.1. Gross domestic product
- •Gross Domestic Product
- •Vocabulary Focus
- •Questions
- •Writing
- •Speaking
- •Vocabulary
- •3.2. InflAtion
- •Meaning and Measurement of Inflation
- •Vocabulary Focus
- •Demand-Pull and Cost-Push Inflation
- •Does it Cost More to Laugh?
- •Writing
- •Consumer Price Index Criticism
- •Vocabulary
- •3.3. Economic business cycles and unemployment
- •Economic Business Cycles
- •Vocabulary Focus
- •Comprehension
- •Unemployment
- •Types of Unemployment
- •W.H. Philips and the Philips Curve
- •Vocabulary
- •3.4. Banking discovering connections
- •Reading
- •Vocabulary Focus
- •Comprehension
- •Commercial Banks of Britain
- •Banking in the usa
- •Banking and Monetary System of the Republic of Belarus
- •The Paris Club
- •Listening Student Banking
- •Student Banking
- •Application for Credit
- •Vocabulary
- •3.5. Money and monetary policy
- •Reading
- •Money and its Functions
- •Vocabulary Focus
- •Comprehension
- •Classical Economics
- •Keynesian Economics
- •Monetarism
- •Instruments of Monetary Policy
- •Monetary Policy during the Great Depression
- •Listening Central Banking
- •Talking with Paul Volker
- •Vocabulary
- •Glossary
- •3.6. Fiscal policy
- •Fiscal Policy
- •Discretionary fiscal policy
- •Vocabulary Focus
- •Other Issues in Fiscal Policy
- •The Role of Government
- •Writing
- •Transition and the Changing Role of Government
- •Budgets and Fiscal Policy
- •Briefing on Personal Taxation
- •Vocabulary
- •4. The microeconomy
- •4.1. Supply and demand
- •Supply and Demand
- •Vocabulary Focus
- •Equilibrium: Mr.Demand, Meet Mr.Supply
- •Equilibrium
- •Elasticity
- •Ex. 2. Answer the questions on the text.
- •Negotiating on the Phone
- •North Holland Dairy Cooperative, Volendam, Postbus 4550nl-4452
- •Jan van Geelen
- •Vocabulary
- •4.2. Market structure
- •Monopoly
- •Vocabulary Focus
- •Comprehension
- •Three Pricing Strategies
- •Market Leaders, Challengers and Followers
- •Vocabulary
- •5. The global economy
- •5.1. International trade
- •International Trade
- •Vocabulary Focus
- •Comprehension
- •The Arguments for and against Free Trade
- •The Banana Wars
- •The Legacy of Adam Smith and David Ricardo
- •Listening
- •Vocabulary
- •5.2. Global market and developing nations discovering connections
- •The World’s Economies
- •Industrialized nations: Growing and Growing Old
- •Newly Industrialized Nations: Getting Going
- •Developing Nations
- •Vocabulary Focus
- •To develop, development, developed, developing
- •Comprehension
- •Economic Cooperation
- •Case study
- •B. Scanning for Information
- •Airbus Industrie
- •The Boeing Company
- •C. Interpreting Information
- •Multinational Corporations and Globalization: the Pros and Cons
- •Translation
- •Vocabulary
- •6. Business administration
- •6.1. Company structure discovering connections
- •Reading
- •Forms of Business Organization
- •Vocabulary Focus
- •Comprehension
- •Flotation
- •Describing Company Structure
- •Is made up of is diveded into
- •Listening
- •Interview with Willhite
- •Vocabulary
- •6.2. Management
- •Nature of Management
- •Vocabulary Focus
- •A. Introduction to the problem
- •B. Scanning for Information
- •Beginning the Business
- •Text b Business Principle: Supermarket Shopping Should Be Fun To Stew Leonard, the distinction between a supermarket and an amusement park is slight, and not necessarily useful.
- •Business Principle: Listen to the Customer
- •Stew Leonard’s Fact Sheet
- •Look at the Stew Leonard's Approach to Supermarket Sales. What do you think about his ideas of running the business. Stew Leonard's Approach to Supermarket Sales
- •Principles of Management
- •What Makes a Good Manager?
- •Семь заповедей бизнесмена
- •Vocabulary
- •Glossary
- •6.3. Accounting
- •What is Accounting?
- •Vocabulary Focus
- •Accounting and Financial Statements
- •The Accounting Profession
- •Business Documents
- •The Balance Sheet
- •Income Statement
- •Bookkeeping
- •Role Play
- •Project X
- •Vocabulary
- •6.4. Marketing
- •Concept of Marketing
- •Vocabulary Focus
- •Building a Brand
- •The brand name
- •B. Scanning for Information
- •The Creation of Levi Jeans
- •Other Levi Strauss Products
- •Text c Why New Products Are Needed
- •Levi Strauss & Co. Product History
- •C. Discussion
- •Writing
- •Marketing Information System
- •You are discussing a new product with your marketing manager. You may use the dialogue below as a model.
- •Vocabulary
- •6.5. Advertising
- •Advertising
- •Vocabulary Focus
- •Comprehension
- •How Companies Advertise
- •Ad advertising campaign advertising standards advertisement advertising budget advertising agencies print
- •Designing an Advertising Campaign Putting the Problem in Perspective: Applying Business Concepts
- •E. Fieldwork
- •Every Day ups Are Trusted To Reliable Deliver 12 Million Shipments Worldwide
- •Vocabulary
- •Glossary
- •Список использованной литературы
- •Contents
Vocabulary
boost v – стимулировать, повышать
borrow v – брать взаймы
borrower n – должник, дебитор, заёмщик
borrowing n– заем, кредит
capacity n – мощность
productive ~ – производственная мощность
consumer n – потребитель
~ price index (CPI) – индекс потребительских цен
credit n – кредит, доверие, репутация
creditorsn– кредиторы, кредиторская задолженность
curve n – кривая (линия)
cutback n – сокращение, уменьшение
debt n – долг
bad ~ – безнадёжный долг
debtorsn– дебиторы, дебиторская задолженность
disinflation n – дисинфляция; замедление темпов инфляции
hyperinflation n – гиперинфляция
inflation n – инфляция
cost-push ~ – инфляция, обусловленная ростом издержек
demand-pull ~ – инфляция, вызванная превышением спроса над предложением
lend v – давать в займы, одалживать
lender n – кредитор, заимодавец
~ of last resort – кредитор последней инстанции
loan n – заём, суда, кредит
loan v – одалживать, давать в займы
~ out – выдавать заём
multiplier n – мультипликатор, коэффициент
recipient n – получатель
surplus n – избыток, профицит
GLOSSARY
GDP chain price index is a measure that compares changes in the prices of all final goods during a given year to the prices of those goods in a base year.
The consumer price index (CPI) is the most widely known price-level index. It measures the cost of purchasing a market basket of goods and services by a typical household during a lime period relative to the cost of the same bundle during a base year.
Inflation is a situation in which a decline in the purchasing power of money results in a rise of the general price level.
Cost-push inflation is an increase in the general price level resulting from an increase in the cost of production.
Demand-pull inflation is caused by pressure on prices originating from the buyers' side of the market. In contrast, cost-push inflation is caused by pressure on prices originating from the sellers' Side- of the market.
Deflation is a decrease in the general level of prices. During the early years of the Great Depression, there was deflation, and the CPI declined at about a double-digit rate.
Disinflation is a reduction in the inflation rate. Between 1980 and 1986, there was disinflation. This does not mean that prices were falling, but only that the inflation rate fell.
Hyperinflation is an extremely rapid rise in the general price level.
Nominal income is income measured in actual money amounts. Measuring your purchasing power requires converting nominal income into real income, which is nominal income adjusted for inflation
Nominal interest rate is the annual percentage amount of money that is earned on a sum loaned or disposed in a bank.
The real interest rate is the nominal interest rate adjusted for inflation. If real interest rates are negative, lenders incur losses.
3.3. Economic business cycles and unemployment
DISCOVERING CONNECTIONS
Are there any jobs in your country which are in constant demand?
In which economic sectors have jobs disappeared / have been created?
What is the most difficult job you can imagine? And the most pleasant?
If you could choose any job in the world, what would it be? Why?
Are you optimistic or pessimistic about your own future? Do you expect the qualification you are currently studying for to get you a permanent job?
Do you see any areas in which a large number of jobs might realistically be created?
In your opinion, when there is high unemployment during a recession, should the government intervene in the economy to create jobs?
READING
Text 1
As you read the text, focus on various theories of business cycle.