- •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
Unit 14 central banking Text 1 The Bank and the Money Supply
Complete the text using the list of words and phrases, A-J, below
Currency is produced by the government 1)_____ the demand for it by businesses and the general public. The currency enters the economic system when people purchase it from banks 2) _____. Therefore, an increase in currency in circulation does not increase the money supply. It is merely exchanged for different form of money – demand deposits. The money supply is increased when 3) ______businesses, individuals, or governments. The bank loans are 4) _____demand deposits which borrowers can then transfer to someone else 5) _____. The amount borrowed continues to circulate in the banking system as additional money until the loan is repaid. 6)______ controlling the money supply is in the hands of the Federal Reserve System.
in the form of
as payment for
in response to
the responsibility for
no control over
by writing checks
paying for it by check
banks lend funds to
performed at about the same level as
in conducting transactions.
Fill in the words according to the passage.
Just as a 1)_____ driver keeps an eye on the road and a hand on a wheel, every country’s central bank watches economic data carefully and adjusts the 2) _____ in an effort to keep the economy headed in the right direction. If a central bank allows the economy to expand too rapidly by keeping too much money in circulation, it may cause 3)_____. If it slows down the economy removing too much money from circulation, an economic recession could result, bringing 4)_____ and reduced 5)_____.
Central banks usually print only enough 6)_____ to satisfy the everyday needs of businesses and consumers. Instead if taking 7)_____ and making 8)_____ as normal banks do, a central bank controls the economy by increasing or decreasing the country’s 9)_____.
Once a customer deposits money in any bank, it becomes available for further lending. A bank’s supply of money for lending is limited by its 10)_____ and its 11)______, which are determined by the central bank that often uses them to control the money supply.
Do the following statements agree with the information given in the article?
Use TRUE if the statement agrees with the information
FALSE if the statement contradicts the information
NOT GIVEN if there is no information on this
Banking and it
When Metro Bank, which claims to be Britain’s first new high-street bank for more than 150 years, opens its first branch in inner London, customers will notice the lollipop jars and water bowls for dogs. New customers will be able to get their account, checkbook, debit and credit cards within 15 minutes, and all the data for each customer will be kept in one place. That puts Metro Bank in an enviable position.
IT at many Western banks is often a hotch-potch of home-made systems. Banks were the first to use mainframes in the 1960s; many are still using the original applications because it is risky to swap them out. Over the years more and more systems have been slapped on. Banks were often profitable enough to afford big IT teams, writing programs themselves rather than buying off the shelf.
As the result banks tend to operate lots of different databases producing conflicting numbers.
Reported numbers for the bank’s exposure were regularly billions of dollars adrift of reality, a former executive at Royal Bank of Scotland reports; finding the source of error was hard.
Many banks also do not have a “single view” of their customers, which would allow them to offer tailored products or simply serve them better. Customer’s data are duplicated for each account. This is why talking to a call centre can take forever as employees laboriously switch between applications to sort things out.
But most bigger banks are still grappling with how to move forward. That is good news for starts-ups such as Metro Bank, which wants to open more than 200 branches in Britain by 2020.
What really sets Metro Bank apart is its state-of-the art IT system.
Banks wrote their programs themselves since they could afford that.
The reality was you could never be certain that everything was correct in IT programs.
Most systems of many banks are organized around people, not accounts.
Some banks outsource their IT to providers or use packaged software.