CONTENTS
UNIT 1. What is economics?
Text A: What is economics?
Text B: What economics isn't
Text C: Micro, Macro and Fantasy Economics
BUSINESS COMMUNICATION: Introductions
GRAMMAR: Present Tenses. The Present Simple (Indefinite) and the Present Continuous Tenses
UNIT 2. Factors of production
Text A: Factors of production
Text B: Entrepreneurship
Text C: Factors of Production for an Innovation Economy BUSINESS COMMUNICATION: In the office
GRAMMAR: Present Tenses. The Present Perfect and the Present Perfect Continuous Tenses
UNIT 3. Types of economic systems
Text A: Types of economic systems
Text B: Command economy
Text C: Good (and bad) models
BUSINESS COMMUNICATION: Finding the way
GRAMMAR: Past Tenses. The Past Simple (Indefinite) and the Past Continuous Tenses
UNIT 4. Demand and supply
Text A: Demand and supply
Text B: The role of price
Text C: Two factors that affect labor supply and demand BUSINESS COMMUNICATION: Making an appointment
GRAMMAR: The Past Prefect Tense. The Past Perfect Continuous Tense. Past Tenses Review.
UNIT 5. Free-enterprise system
Text A: What is free enterprise?
Text B: Role of government in a free-enterprise economy
Text C: Invisible hand
BUSINESS COMMUNICATION: At the airport.
GRAMMAR: Future Tenses. The Imperative Mood.
UNIT 6. Forms of business organisations
Text A: Forms of business organisations
Text B: Nonprofit organisations
Text C: Franchising
BUSINESS COMMUNICATION: At the hotel
GRAMMAR: Nouns. Articles.
UNIT 7. Money
Text A. Money and its role in the economy
Text B. A Glimpse of the American, British and Euro currencies Text C. A Barter Way of Doing Business
BUSINESS COMMUNICATION: On the telephone
GRAMMAR: Determiners. Numerals
UNIT 8. Taxes
Text A: Taxes
Text B: Taxation in the UK
Text C: Taxes are good
BUSINESS COMMUNICATION: In company
GRAMMAR: Pronouns. Adjectives. Adverbs. Comparison
