3. The economy of great britain Lead-in:

1. output – продукція

2. employment – зайнятість

3. recession – занепад

4. rate of inflation – інфляція

5. income tax rate – податкова ставка

6. turnover – обіг (оборот)

7. inward investment – внутрішні інвестиції

8. merger – злиття

Britain's economy is based primarily on private enterprise, which accounts for 75% of output and nearly 70% of employment. Just over 2% of the British workforce is engaged in agriculture, a lower proportion than in any other leading industrial country. Services contribute a growing proportion of production — 65%, while manufacturing accounts for 21%. By successfully exploiting oil and natural gas from the North Sea, Britain has become self-sufficient in energy and expects to remain so for some years. Exports, mainly to other EC countries, are equivalent to over half of domestic oil production.

International trade plays a vital role in Britain's economy. Exports of goods and services make up around 25% of national output. From 1981 to 1989 the economy experienced eight years of growth, but in 1990 with the recession in Britain and other major industrialised nations, growth slowed to about 1%. The rate of inflation went down in the early 1980s, went up in 1988, and dropped again in 1992. The unemployment rate in the country is about 10% of the workforce. Growth of manufacturing productivity in Britain is generally faster than in all other leading industrialised countries.

The Government economic strategy is centred on keeping the rate of inflation down, within a range of 1 to 4%. As part of this strategy, public spending and borrowing is tightly controlled. At the same time government policy tries to improve the working of markets and promote enterprise and efficiency. A substantial amount of activity has been transferred from the public to the private sector through privatisation and contracting out. Since 1979, forty six major businesses have been privatized, including British Gas, British Telecom and British Steel.

The Government tries to take measures to reduce personal and corporate income tax rates. Industrial relations have been put on a more secure legal footing, and training opportunities have been expanded. Small businesses employ more than a third of private sector workforce and are responsible for one-sixth of total turnover.

The Government provides assistance and guidance to help with problems affecting small companies. Britain is considered to have an attractive location for inward investment because of its membership of the EC. Though markets in Britain operate as freely as possible, Government regulates monopolies, mergers and anti-competitive practices.

 Questions for comprehension check-up and discussion:

1. What is Britain’s economy based on?

2. Is international trade important for Great Britain?

3. Was the rate of unemployment high in Great Britain?

4. What is the Government economic strategy centered on?

5. How does the Government try to reduce income tax rates?

4. My university

Lead-in:

1. extra-mural (part-time department) – заочне відділення

2. to be run by – управляти

3. staff – персонал

4. to provide an access to – забезпечувати доступ

5. to be at sb’s disposal – бути в розпорядженні когось

I am a student of Donetsk National University of Economics and Trade named after M.Tugan-Baranovsky. It is a leading university in our country and one of the oldest ones, it was founded in 1920. Studying at our university has always been prestigious and it is even more prestigious nowadays because our country has stepped onto the road of the transition to the market-based economy and needs qualified professionals in this field. Graduates from our university must be ready to work in National, regional and municipal bodies of the national economy and they have to meet all the requirements to specialists of present time.

The University comprises 4 institutes and 3 faculties in its structure:

• the institute of finance and accounting;

• the institute of economics and management;

• the institute of processing and refrigerating equipment;

• the institute of post-graduate education;

• the international faculty of training foreign specialists;

• the faculty of marketing, trade and customs activity;

• the faculty of hotel-and-restaurant business.

The University trains specialists for various fields of our economic life.

More than 11.000 students from Ukraine and from foreign countries study here. Students are trained in 12 specialities and you can get two or more professions at the same time. For those who combine work and study there is an extra-mural (or part – time) department, and I am a student of the part-time department.

The University is run by Rector and four Pro-Rectors. These is the director at the head of each institure and the dean at the head of each Faculty A qualified teachers’ staff work here: a lot of well-known scientists and experts in economics, finance, management, trade and public catering deliver lecture and run practical classes.

Those who complete the course successfully are qualified for a wide range of jobs and further courses according to the educational scheme of the University.

There are 7 academic buildings where you can find a lot of lecture-rooms, computer classes, laboratories. Our University provides an access to special literature in Ukrainian, Russian and English, because our library has a large collection of books, journals and other papers in economics, engineering and technology of foodstuffs.

Our University is provided with its own computer classes and students have an access to a wide range of statistical database and software, to the Internet. Students and teachers of our university are involved in a very wide range of research projects, international projects with our foreign partners. There is no need to say that we can’t do without foreign languages, and first of all, English, because it is the language of international cooperation.

No doubt we must get a fundamental basis of knowledge, that is why we study both theoretical and applied subjects.

Our students are provided with sports and recreation facilities, three gymnasiums with the modern equipment are at our students’ disposal and they also have an access to free medical assistance.

I’m proud to be a student of this educational establishment and invite all my younger friends to enter my University.

 Questions for comprehension check-up and discussion:

1. What University do you study at?

2. Who is it run by?

3. How many faculties are there in its structure?

4. What is your faculty / institute?

5. Can students combine work and study?

6. What facilities are students provided with?