- •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
Contraction
For any number of reasons, consumers and businesses begin to reduce their spending levels. Businesses may lay off workers, reduce their purchases of raw materials and reduce production because they have built up excess inventories. Some businesses may decide to continue to use old factories and equipment rather than investing in new machines and buildings. Some businesses and consumers will even reduce spending because economists predict that business will be slowing down in the next few months. Whatever the reason, reductions in business and consumer spending mark the beginning of a contraction in the business cycle.
Recession
With factories operating at less than capacity and unemployment at very high levels, total output of goods and services enters a long-term decline. This is the bottom phase of the business cycle, or as economists describe it, the period of recession.
Times are hard during recession. Unemployment is very high, jobs are difficult to find and many businesses fail. A very severe and long-lasting recession is called a “depression”.
Expansion
After a period of recession the economy eventually begins to recover, entering the expansion phase of the business cycle. During a period of expansion the conditions are about to improve, business begins to expand its activities. Unemployment declines as additional workers are hired. This, in turn, leads to higher levels of consumer spending and still further expansion of employment, output and consumption.
WORD STUDY
Ex. 1. Study the different meaning of the following words and use them to translate the
sentences.
a)expansionn1) увеличение (в размере, объёме, количестве)
2) распространение, экспансия; рост, развитие
3) расширение производства
b)toexpandv 1) растягивать, расширять увеличиваться в объёме,
в размерах, в количестве
2) развивать, расширять
3) излагать дело в подробностях, раскрывать суть дела
1. When air is warmed it expands and becomes lighter.
2. Rapid expansion of private health insurance is one of the characteristics of market economy.
3. Each cycle of recession is followed by a new period of economic expansion.
4. Expansion of gases when heated is a law of nature.
5. The company has abandoned plans for further expansion.
6. The aim of this gymnastic exercise is to expand the chest muscles.
7. Our trade with China is steadily expanding.
8. The director plans to expand the firm into an international company.
Ex. 2. Match the words and word-combinations listed in the box with their Russian
definitions.
inventories, boom, to hire, depression, standard of living, expansion, layoff, business cycle, total output |
1. Периодически повторяющиеся подъемы и спады экономической активности в
капиталистических странах.___________________________
2. Состояние экономики, характеризующееся значительной и длительной безработицей,
снижением производства, и инвестиций.______________________
3. Резкий подъем деловой активности.___________________
4. Увольнение из-за отсутствия работы.______________________
5. Запасы сырья, материалов, топлива, готовой продукции.___________________
6. Общее количество единиц продукции, произведенное за определенный период
(например, год).__________________
7. Нанимать на работу за определенную плату.____________________
8. Уровень существования и материального благосостояния государства, человека.
________________________
Ex. 3. Group the following words into six synonymous groups.
depression breakdown well-being to lay off |
boom to fire to cut back job |
to reduce storage slump prosperity |
work bad luck inventories toil |
stock to lower recession to dismiss failure |
Ex. 4. Replace the words in italics by synonyms from Ex. 3.
1. Businesses may fire workers.
2. Businesses may cut back their purchases of raw material because they have built up them in
excess stock.
3. In 1933 businesses went bankrupt at a record rate.
4. Reduction in production and additional worker layoffs lead to a slump.
5. When people speak of business cycles, they think of things like “well-being” and “depression”
Ex. 5. Translate the words and phrases given in brackets.
1. (На пике) ofthebusinesscycle(происходит резкий подъем экономики).
2. The rate of (банкротств) is very high.
3. The way to smooth out (экономические колебания) is not found yet.
4. (По ряду различных причин) consumers and businesses begin to reduce (уровни расходов).
5. Economists(предсказывают)that(производство будет снижаться)inthenextfewmonths.
6. After(периода спада)theeconomy(в конечном счете)begins(восстанавливаться).
7. Business may (временно уволить) workers, reduce (приобретение сырья) and reduce
production because they have built up (излишние запасы).
8. The period of recession is (низшая точка экономического цикла).
9. The worst depression in American history, is known as (Великая депрессия).
10. In 1933 numbers of people lost their (сбережения) because more than 4,000 (частных
банков) closed (навсегда).
Ex. 6. Translate into Russian. Mind the translation of prepositions “like” and “as”.
1. What a beautiful house! It’s like a palace.
2. What does he do? He’s a teacher, like me.
3. Some sports like motor racing can be dangerous.
4. Like the manager, she also has to make important decisions.
5. Everybody is ill at home. Our house is like a hospital.
6. The situation with sales has not been like last year.
7. Before joining us he worked as a sales manager for a cosmetic company.
8. It is not like them to keep us waiting for the deliver; they are usually very punctual.
9. After the company reorganization we started to work as an independent division.
10. As mentioned earlier this evening, we have a guest speaker.
COMPREHENSION
Ex. 7. Match the questions (1-8) to their answers (A-H).
1. How many years did the Great Depression last for?
2. How are changes in business activity called?
3. What happens in a period of depression?
4. When is the economy booming?
5. What marks the beginning of a contraction in the business cycle?
6. Why are prices increasing during a boom period?
7. Why do businesses and consumers reduce their spending during a contraction cycle?
8. During which period does business begin to expand its activities?
A. At the peak of the business cycle.
B. Ten years
C. Because the demand for goods and services is increasing.
D. During a period of expansion.
E. Factories are idle, millions of workers are unable to find jobs, and the rate of business
failure is high.
F. Because economists predict that business will be slowing down in the next few months.
G. The periods of boom, contraction, recession and expansion.
H. Reductions in business and consumer spending.
Ex. 8. Multiple choice. In the space provided, write the letter of the item that best
completes the statement.
1. “Prosperity” is ordinary used to describe ______________period of high employment.
a) a long
b) an extended
c) a short-lasting
2. “Depression” refers to an extended period of general __________________ of economic
resources.
a) underemployment
b) employment
c) unemployment
3. The worst depression in American history lasted from __________________.
a) 1920 to 1930.
b) 1930 to 1940
c) 1940 to 1950
4. Some businesses and consumers will even reduce spending because economists predict that
business _______________________ in the next few months.
a) will be booming
b) will be flourishing
c) will be slowing down
5. The way to smooth out economic ___________________was not found yet.
a) fluctuations
b) activity
c) systems
6. The recession is the ______________ phase of the business cycle.
a) most important
b) final
c) bottom
7. During the Great Depression 4,000 ______________________banks closed permanently.
a) state-owned
b) privately-owned
c) government-owned
8. During the period of recession total output of goods and services enters a long-term decline.
a) a short-term decline
b) a long-term decline
c) a long-term boom
9. During a period of expansion the conditions are about to improve, business begins _________
its activities.
a) to expand
b) to cut back
c) to cease
Ex. 9. Translate into English. (Modal Verbs)
1. When I was area manager, I could visit five customers a day.
2. Only employees can buy products from the company shop.
3. This is a dander area. Employees may not enter this area without protective clothing.
4. Next year we may launch a sales campaign in Japan.
5. May I make a comment at this point? – Yes, of course you may.
6. Many customers give to charity money that they might have spent on themselves.
7. Changes in the quantity of money may or may not have an influence on prices.
8. All the shareholders must receive an invitation to the meeting; however, they needn’t attend.
9. These figures can’t be right. There must be a mistake somewhere.
10. If you want my advice, you should find another supplier.
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