- •Предисловие
- •Библиография и источники
- •Благодарность
- •Методическая записка
- •In this module we will consider major economic systems.
- •1.Translate the following sentences into Russian, paying attention to the active vocabulary.
- •2.Match each word with its translation.
- •3.Translate the following sentences into English.
- •4.Render the text in English.
- •1.Translate the following sentences into Russian, paying attention to the active vocabulary.
- •3.Translate the following sentences into English.
- •4.Render the texts in English.
- •5.Translate the following texts into Russian.
- •In Part 1 we are going to brainstorm, discuss ideas at a round table and hold a panel discussion.
- •1.3. Brainstorm concepts and symbols of the command economy.
- •1.4. Brainstorm ideas on the role of banks in economy.
- •1.5. Discussion formats: round table and panel discussion
- •1.6. Hold a round table discussion on types of economic systems.
- •1.7. Organize a round table discussion, comparing market economy and mixed economy.
- •1.8. Have a panel discussion of the financial system of Russia. Invite guests to act as your audience.
- •In Part 1 we will study how to write an outline for essay.
- •1.Translate the following sentences into Russian, paying attention to the active vocabulary.
- •2.Match each word with its translation.
- •3.Translate the following sentences into English.
- •4. A. Give the gist of the definitions below in English.
- •1.Translate the following sentences into Russian, paying attention to the active vocabulary.
- •3.Translate the following sentences into English.
- •4.Render the text in English.
- •2.15. Types of Paragraphs
- •2.16. Descriptive exercise
- •2.17. Comparison exercise
- •In the paragraph fill in an appropriate conjunction from those shown below.
- •In this module we will concentrate on the issues of the cycle nature of economic development.
- •1.Translate the following sentences into Russian, paying attention to the active vocabulary.
- •2.Match each word/ phrase with its translation.
- •3.Translate the following sentences into English.
- •4.Render the text into English.
- •1.Translate the following sentences into Russian, paying attention to the active vocabulary.
- •2.Match each word with its translation.
- •3.Translate the following sentences into English.
- •4.Render the text in English.
- •3.10. Look through the list. Decide which of the steps are the most essential.
- •3.11. Making a presentation – step by step.
- •3.12. Presentation slides and commentary.
- •3.13. Make slides and commentaries to slides based on Texts Nos. 1, 5 and 6 in accordance with the pattern given in 4.6.
- •In Part 3 we will proceed with essay-writing.
- •3.14. Read the text describing the structure of essays.
- •1.Translate the following sentences into Russian, paying attention to the active vocabulary.
- •2.Match each word with its translation.
- •3.Translate the following sentences into English.
- •4.Render the text in English.
- •Currency board
- •1.Translate the following sentences into Russian, paying attention to the active vocabulary.
- •2.Match each word with its translation.
- •3.Translate the following sentences into English.
- •4.Render the text in English.
- •In Part 4 we will proceed with presentation skills and public speaking skills.
- •4.3. Prepare and give the introductions to the following presentations.
- •1.Descriptive Abstracts
- •2.Informative Abstracts
- •4.9. Write an abstract of any text from Module 7.
- •4.10. Write an abstract of any text from Module 8.
- •3. Microeconomics and Macroeconomics
- •4. Monopoly and Market Power
- •5. Merit Goods
- •6. Business Organization
3.12. Presentation slides and commentary.
Let us make slides and commentaries
(paraphrasing written text into oral speech).
-
Slide1
Commentary to Slide 1
Adam Smith
on the Division of Labor
The topic of my today’s presentation is Adam Smith’s views on the division of labor. Like modern economists, Smith believed that the standard of living could rise only if the productivity of labor would rise. For Smith, the most important force leading to a rising standard of living was division of labor. [2]
Slide 2
Commentary to Slide 2
The Wealth of Nations
‘invisible hand’ of the market;
the division of labor.
It will be worthwhile to digress a bit and review what the founder of economics said about the division of labor. [1]
Most people associate the idea of ‘invisible hand’ with Adam Smith. According to that idea, free markets restrain prices to some natural level and assure the supply of goods and services at the natural price. But before taking up this idea, Smith turned to the division of labor. [3]
Slide 3
Commentary to Slide 3
Increasing the division of labor
results in increasing productivity
Smith argues that increasing the division of labor increases productivity. In one of the most famous passages in the book, Smith illustrates this tendency describing work in a pin factory.[4]
The production progress is divided into several operations. {QUOTE} I would like to quote: ‘One man draws out the wire, another straights it, a fourth points it, a fifth grinds it at the top for receiving the head; to make the head requires two or three distinct operations…’ And that is only a part of the process. The workers earned much more money daily as they produced more than they would do if they had worked separately.[5]
Slide 4
Commentary to Slide 4
Division of labor &
specialization
are aspects of
cooperative production
The quoted passage shows what Smith meant by the division of labor, and by the claim that increasing division of labor increases the productivity of labor.
What I want to add is that the division of labor and specialization are aspects of what we might call cooperative production. [6]
Slide 5
Commentary to Slide 5
In a pin factory
each worker
takes his part of work;
cooperates with other workers;
relies on the others;
takes different roles.
In the pin factory, each worker is taking a different part of the work, and in doing his part he is working along with – co-operating with – the other workers in the pin factory. Each relies on the others for the part he or she does not do. They take different roles in production, and the roles are complementary. Classical economists of the nineteenth century extended this idea, until Richard Ely, a founder of the American Economic Association, argued that cooperation in production is the primary source of high standards of living. Unfortunately, this vision was lost in the twentieth century. Perhaps it will be recovered in the twenty-first. [6]
Slide 6
Commentary to Slide 6
Cooperative production increases productivity.
Adam Smith
Smith's first great insight is that cooperative production increases productivity. {QUOTE} Smith wrote: ‘It is the great multiplication of the productions of all the different arts, in consequence of the division of labor, which occasions, in a well-governed society, that universal wealth which extends itself to the lowest ranks of the people’. [7]
Slide 7
Commentary to Slide 7
The division of labor into different trades is another aspect of the division of labor.
According to Adam Smith, in very small villages in deserted areas every farmer must be butcher, baker and brewer for his own family.
This is in contrast to a more developed region.
The laborer’s work usually contributes to meeting needs of many others in society. [8]
Slide 8
Commentary to Slide 8
The division of labor in the 21st century is the key cause of growth in the wealth of nations.
Do you agree?
To end up my little presentation I would like to say that the division of labor is so characteristic of modern society that we may fail to notice it, as a fish fails to notice the water in which it swims. It was newer in Smith's time. Probably it was more noticeable then. Economists have had little to say about it in the twentieth century. Just recently, in the 1990's, a number of economists specializing in economic growth have again come to see the division of labor as a key cause of growth in the wealth of nations.[9]
I would like to ask you to prove or oppose my point of view. You are welcome with questions or opinions.