- •Частное учреждение образования
- •Contents
- •Предисловие
- •Содержание учебного материала
- •E c o n o m y
- •Money and its functions
- •Vocabulary
- •Money as a medium of exchange
- •Vocabulary
- •Word study
- •Final questionnaire
- •Who wants to be a millionaire?
- •Pre-reading activities
- •Discussion
- •Text 1 economy and economics
- •Vocabulary
- •Word study
- •Ex. 9. Make up sentences from the jumbled words.
- •Limited resources: the need to choose
- •Final questionnaire
- •Unit 3 theories of economics
- •The first modern economists
- •Vocabulary
- •Ex. 2. Use the following words to complete the sentences below.
- •Ex. 5. Translate into Russian in written form. Economic Individualism – Laissez-Faire
- •Comprehension Ex. 6. Say if the sentences are true or false. Correct the false ones.
- •Ex. 7. Answer the questions.
- •Classical school of economics
- •Vocabulary
- •Ex.9. Match the verbs on the right with the nouns on the left.
- •Ex. 13. These are the answers to the questions. What are the questions?
- •Adam smith and “the wealth of nations”
- •Unit 4 levels of economics
- •Microeconomics versus macroeconomics
- •Vocabulary
- •Unit 5 main economic laws discussion
- •Text 1 the law of demand
- •Vocabulary
- •Vocabulary
- •Unit 6 economic systems
- •Word study exercises
- •2) Выделять, назначать
- •Allocation n 1) распределение, размещение
- •Ex. 2. Match the words with their definitions.
- •Ex. 4.Match the verbs in column a with the nouns in column b. A b to allocate available resources
- •Comprehension
- •Ex. 8. Put the questions to the words in italics.
- •Text 2 command or planned economy
- •Vocabulary
- •Word study
- •Advantage – disadvantage
- •What does prefix dis-mean in the English word-building? Can you give some more examples of this rule?
- •Ex. 16. What are the synonyms from the text of the following words?
- •Comprehension
- •Text 3 free market economy
- •Vocabulary
- •Text 4 mixed economy
- •Vocabulary
- •Word study
- •Put these words in the sentences given below.
- •Ex. 21. Fill in the gaps with prepositions.
- •A b
- •Comprehension
- •Questions for discussion
- •Final questionnaire
- •Traditional economy
- •Command economy
- •Free market and mixed economies
- •Why is business activity needed?
- •Vocabulary physical item – материальные предметы
- •At the previous lessons we have discussed the following issues:
- •Informal English
- •What is the aim of all business?
- •Text 2 levels of economic activity
- •Vocabulary
- •Ex. 14. Reading. Robyn Penrose, the managing director of a manufacturing company is
- •What is the key point that this extract is making about economies?
- •Infinitive Construction “to be (un)likely to do”
- •Business cycles
- •Vocabulary
- •Contraction
- •Recession
- •Expansion
- •What causes business cycles?
- •Vocabulary
- •Vocabulary
- •What is international trade
- •Vocabulary
- •Import – export
- •Vocabulary
- •Management
- •Art or science?
- •Vocabulary
- •Management by objectives
- •Vocabulary
- •Management as a profession
- •Vocabulary
- •Final questionnaire
- •Managing a multinational company
- •Vocabulary
- •Comprehension
- •Ex.7. Answer the questions.
- •Discussion
- •International differences discussion
- •Business travel abroad
- •Recruitment
- •Vocabulary
- •Some pieces of advice will help you to bear your job interview successfully
- •Vocabulary
- •Curriculum vitae
- •Curriculum Vitae
- •Out of work
- •Types of Meetings
- •Vocabulary
- •How to organize and conduct a meeting
- •Checking understanding, interrupting, referring back
- •Companies
- •Entrepreneur
- •Vocabulary
- •I left England with £5 and now I'm a multi-millionaire!
- •A sole proprietorship
- •Vocabulary
- •Partnership
- •Vocabulary
- •Corporation
- •Unit 7 talking about companies
- •Ex. 4. Match the words on the left with the words on the right.
- •Comprehension
- •Describing company structure
- •Vocabulary
- •Texts for reading
- •Управляемые самостоятельные работы студентов факультета экономики
- •The Witch of Wall Street
- •Vocabulary
- •Branch managers
- •Dx Communications – we succeed because we care.
- •0131 225 6755
- •4. A career in sales
- •2 Golf Road, Ellon, Aberdeenshire ab41 9at
- •Vocabulary
- •Imagine, you were him. What would you advise to your client?
- •Bibliography
Ex. 7. Answer the questions.
1. What economic theory do the major countries believe in between the 16th and 18th centuries?
2. In what way should government protect business according to mercantilists?
3. What is «favourable balance of trade»?
4. Why did the major European countries acquire colonies?
5. What would the excess of export result in?
6. What reflects the hoard of gold and silver?
7. What could colonies provide the «mother country» with?
8. Could the articles be sold to buyers in countries other than England?
9. What are some people still argue about today?
10. What were the true source of wealth according to physiocrats?
11. Why did the physiocrats oppose government efforts to promote a “favourable balance of
trade”?
12. What does the slogan «laissez faire» mean?
Text 2
Classical school of economics
Vocabulary
London Stock Exchange – лондонская фондовая биржа
spokesman – представитель
advantages – преимущества
principle of comparative advantage – принцип (закон) сравнительного преимущества
to abandon – отказаться
policy of protection – политика протекционизма
to achieve the goal достигнуть цели
bore fruit – принесли плоды
economic growth – экономический рост
a prophet– проповедник
authorities– местные власти
the course of history – ход истории
argued – приводил доводы
surplus value– прибавочная стоимость
Classical school of economics is the school of economic thought which dominated in the 19th century and had given birth to economics as a separate subject for study.
David Ricardo – a classical champion of free trade. David Ricardo is one of history’s most influential economists. Born in England, Ricardo made a fortune on the London Stock Exchange. This wealth gave him the time to write and to serve in Parliament’s House of Commons. His most famous work “Principles of Political Economy and Taxation” marked him as a greatest spokesman for classical economics since Adam Smith.
Ricardo is especially famous in international economics for demonstrating the advantages of free trade. Free trade is a policy in which tariffs and other barriers to trade between nations are removed. To prove this point, Ricardo developed a concept we now call the principle of comparative advantage. Comparative advantage enabled him to demonstrate that one nation might profitably import goods from another even though the importing country could produce that item less for than the exporter.
As a member of parliament, Ricardo pressed the government to abandon its traditional policy of protection. Though he did not live to achieve that goal, his efforts bore fruit in the 1840s when England became the first industrial power to adopt a policy of free trade. There followed 70 years of economic growth during which the nation became the world’s wealthiest industrial power.
Karl Marx – a prophet of socialism and communism. For more than half of Europe and the third of the world’s population, history’s greatest economist was Karl Marx. Born in Germany, Marx’s revolutionary activities got him into trouble with the authorities, and from 1842 until his death in 1883 he lived his life in exile.
In 1849, Marx moved to London, England, where he studied, wrote, and produced his greatest work “Capital”.
Marx’s dedication to his studies made it impossible for him to earn a living. If his friend Frederick Engels, a wealthy textile manufacturer from Manchester, England hadn’t helped him financially, Marx and his family might have starved to death.
In 1845 they wrote The Communist Manifesto. The Manifesto concluded with:
“… Let the ruling classes tremble at a Communistic revolution. The proletarians have nothing to lose but their chains. They have a world to win. Working men of all countries unite!”
The Economic Theories of Karl Marx. It is not possible to summarize briefly everything that Karl Marx had to say about the world in which he lived. These are some of his more important theories.
The economic interpretation of history. In Marx’s view, the course of history has been determined only by economic forces. He offered to look at the economic events of the time to find the real reasons why people and states behaved the way they did.
He also argued that history has been a series of struggles between economic classes. Throughout the history aristocracy struggled for power with small farmers and city workers.
The exploitation of labour. According to Marx, goods and services had value because of the efforts of workers. But workers were only paid enough to stay alive. Whatever was left over (profits) was pocketed by the factory owner – the capitalist. But profits represented surplus value which should belong to those who created it: the workers.
The inevitability of capitalism’s collapse. Under this system, the rich would get richer and the poor, poorer. Because workers were underpaid, they wouldn’t be able to buy the goods and services they produced. And eventually this would lead to the final class struggle which would be followed by revolution, then by socialism, and finally by communism. Once communism was achieved, the state would wither away. Each worker would perform “according to his ability” and be rewarded “according to his needs.”
WORD STUDY
Ex. 8. Translate the words and phrases given in brackets.
1. Born in England, Ricardo (сколотил состояние) on the ((лондонской бирже). 2. Ricardo is especially famous in (международной экономике). 3. Ricardo developed a concept we now call (принцип сравнительного преимущества). 4. Ricardo pressed the Parliament (отказаться от) its traditional (политики протекционизма). 5. Comparative advantage (дало возможность) him to demonstrate . . . 6. His efforts (принесли плоды) in the 1840s.