- •Государственный университет – высшая школа экономики
- •Unit 1 three economic issues Text 1 Three economic issues
- •1 Which paragraph contains the following information?
- •2 Do the following statements agree with the information given in the text Three economic issues?
- •3 Complete each sentence with the correct ending, a-j, below.
- •4 Complete the summary of the text Three economic issues from your textbook.
- •Text 2 The Role of Government
- •1 Which paragraph contains the following information?
- •2 Do the following statements agree with the information given in the text?
- •3 Choose the correct letter, a, b or c.
- •Italy is known to be a big government country because
- •4 Which of the following best describes the main idea of the text?
- •5 Complete the summary using the list of words, a – m, below. Government's Role in the Economy
- •Unit 2 the production possibility frontier Text 1 The production possibility frontier
- •1 Which paragraph contains the following information?
- •2 Do the following statements agree with the information given in the text?
- •3 Complete each sentence with the correct ending, a-I, below.
- •4. Complete the text using the words below (there are some extra words)
- •5 Fill in the missing words to complete the table: you can check your answers in a dictionary.
- •Text 2 The production possibility frontier
- •1 Which paragraph contains the following information?
- •2. Do the following statements agree with the information given in the text?
- •3 Complete each sentence with the correct ending, a-I, below.
- •4. Complete the text using the words below (there are some extra words)
- •5 Fill in the missing words to complete the table: you can check your answers in a dictionary.
- •6. Listening
- •Unit 3/1 the role of the market
- •4. Complete the summary below.
- •3. Do the following statements agree with the information given in the text?
- •1. Complete the sentences below.
- •2. Complete the table below.
- •Unit 4/1 microeconomics and macroeconomics
- •1. Which paragraph contains the following information?
- •2. Choose the correct letter, a, b, c or d.
- •3. Do the following statements agree with the information given in the text?
- •4. Complete each sentence with the correct ending, a-g, below.
- •Unit 4/1 summary
- •1. Complete the notes below.
- •2. Complete the notes below.
- •Unit 5 economic analysis (1) Text 1. The tools of economic analysis.
- •Text 2 Index numbers
- •History of early price indices
- •Check your progress
- •5. A. You are going to read an entry on inflation from Oxford Dictionary of Economics. Before you begin, write down any words that come into your mind when you think about the topic.
- •Inflation
- •Unit 6 economic analysis (2) Text 1. Economic models
- •. Note completion. Complete the texts with the words given below.
- •Comparison with models in other sciences
- •Text 2. Scatter diagrams
- •Unit 7 supply and demand (1)
- •3. Do the following statements agree with the information given in the text?
- •4. Complete the sentences below.
- •5. Which of the following best describes the main idea of the text?
- •Unit 7 supply and demand (1)
- •Unit 8 supply and demand (2)
- •5. Which of the following best describes the main idea of the text “Behind the Demand Curve”?
- •Unit 8 supply and demand (2)
- •5. Which of the following best describes the main idea of the text “Behind the Supply Curve”?
- •Unit 13 money and banking Text 1 Money and its Functions
- •Green back
- •Text 2 Modern Banking
- •The banks battle back
- •Unit 14 central banking Text 1 The Bank and the Money Supply
- •Banking and it
- •Text 2 The Demand for Money
- •A Special Case
Green back
The dollar, for all its blemishes, is the least hideous-looking. So far this year it has risen against the other main currencies (the yen, pound, and euro) that are traded internationally and held as reserves by central banks.
The case for a further drop in the euro against the dollar has more than just momentum to back it. Business cycles favour it: the euro-area economy is picking up speed again, but America’s recovery is more advanced. The pressure to tighten fiscal policy in some parts of the euro area will make it hard for the European Central Bank to even consider raising interest rates. A weaker euro also addresses the deeper cause of the present crisis.
A cheaper euro hurts America, which will feel it is owed a chance for export-led growth after almost ruining itself as the world’s main consumer.
Are there any beautiful currencies left? A handful had comfortably outpaced the dollar this year before the latest market tremors had investors grasping for greenbacks. Two such currencies are the Australian dollar and the Canadian dollar. Both are issued by rich countries with stable banks that have not sullied the public finances. Another is the South Korean won. Brazil’s real may over time develop as a reliable store of value. The trouble is, securities issued in these currencies are a tiny fraction of those available in the world’s four main currencies.
In a world of ugly currencies, the dollar is sitting pretty.
A weaker euro does not help Greece, Portugal and the rest compete with Germany, but it at least gives their firms a chance against imports from outside the euro bloc.
The lack of scale and liquidity limits the role of the yen, pound, and euro as reserve currencies.
There are many other stable currencies which have certain plain qualities in abundance, and they can compete with the dollar successfully.
Treasury bonds, with their liquid markets and unique issuer, look prettier.
Speaking
Work in pairs. Take it in turns to speak for about three minutes on the following topic. Before you begin, spend a minute thinking about what you are going to say.
Speak about money
You should say:
Can you imagine life without money?
Do you know anything about the history of money?
What kinds of money do you know?
What are the dangers of using a credit card to pay with instead of money?
What do you know about digital money?
What is an ATM?
What do you know about a barter economy?
Organise your answer into four paragraphs. You may wish to use the useful expressions below in your answer.
Introduction to the topic __________________________________
Advantages
There are several obvious benefits, such as ___________________
Another positive aspect is _________________________________
Disadvantages
The impact has not all been positive _________________________
The most common criticism is ______________________________
Another negative effect is __________________________________
A final drawback is _______________________________________
Summary and own opinion
To sum up ______________________________________________
In conclusion, I believe ____________________________________
The advantages/disadvantages outweigh the disadvantages/advantages__