- •Белорусский государственный университет
- •Тихомирова л. Б., Князева н. И., Рунцова э. В., Хведченя л. В.
- •Предисловие
- •Can you explain why you have chosen the profession of an economist?
- •Careers: Economist
- •Vocabulary Focus
- •1. K p. A. – one thousand per annum.
- •Ex. 4. Express in one word.
- •Degrees in Economics
- •Comprehension
- •Questions
- •Outstanding Economists
- •Michael Dell Timeline
- •Ingvar Kamprad Timeline
- •Example
- •A. Translate into Russian.
- •B. Translate into English.
- •Vocabulary academic adj – 1. Университетский; академический; учебный; 2. Чисто теоретический; 3. Фундаментальный (в противоположность прикладному)
- •Salary n – жалованье, оклад self-employed adj – обслуживающий свое собственное предприятие; работающий не по найму
- •2. Economics as a science
- •Economics as a Science
- •Vocabulary Focus
- •Satisfying People’s Wants
- •Economic Systems
- •Methodology
- •Economic Theory and Models
- •Useful language: How to make a presentation (Part 2).
- •Discuss the following questions.
- •Vocabulary
- •3. Microeconomics
- •3.1. Supply and demand
- •Supply and Demand
- •Vocabulary Focus
- •Text 2 Equilibrium: Mr. Demand, Meet Mr. Supply
- •Equilibrium
- •Elasticity
- •Ex. 2. Answer the questions on the text.
- •The Leisure Industry
- •B. Discuss the following questions:
- •Vocabulary
- •3.2. Market structure
- •Text 1 Market Structures
- •Monopoly
- •Vocabulary Focus
- •Comprehension
- •Three Pricing Strategies
- •Market Leaders, Challengers and Followers
- •Useful language: Negotiating.
- •Vocabulary
- •4. Macroeconomics
- •4.1. Basic national economy indicators
- •Gross Domestic Product
- •Vocabulary Focus
- •Other Measures of Income
- •Text 3 Economic Growth
- •Writing
- •Describing Innovations
- •Speaking
- •Useful language: Decision-making
- •Vocabulary
- •4.2. Economic business cycles and unemployment
- •Economic Business Cycles
- •Vocabulary Focus
- •Comprehension
- •Unemployment and its Costs
- •Types of Unemployment
- •W. H. Philips and the Philips Curve
- •Headhunting
- •A. Useful Language: Problem-solving.
- •Vocabulary
- •4.3. InflAtion
- •Meaning and Measurement of Inflation
- •Vocabulary Focus
- •Demand-Pull and Cost-Push Inflation
- •Inflation and the Real Interest Rate. Control of Inflation
- •Consumer Price Index Criticism
- •Vocabulary
- •4.4. Banking discovering connections
- •Types of Banks and their Functions
- •Vocabulary Focus
- •Banking in the usa
- •Text 3 Banking in the Republic of Belarus
- •Listening Central Banking
- •Vocabulary
- •4.5. Money and monetary policy
- •Money and its Functions
- •Vocabulary Focus
- •Supply and Demand for Money
- •Instruments of Monetary Policy
- •Monetary Policy during the Great Depression
- •Raising Business Capital
- •Vocabulary
- •4.6. Fiscal policy
- •Fiscal Policy
- •Vocabulary Focus
- •Other Issues in Fiscal Policy
- •Should the Government Intervene in the Business Cycle?
- •3. Different verb forms
- •Vocabulary
- •1. Verbs of change
- •2. Prepositions
- •5. The global economy
- •5.1. International trade
- •International Trade
- •Vocabulary Focus
- •Trade Barriers
- •The Banana Wars
- •Free Trade
- •Vocabulary
- •5.2. Globalization discovering connections
- •Globalization
- •Vocabulary Focus
- •Comprehension
- •Economic Cooperation
- •Text 3 Multinational Corporations: the Pros and Cons
- •Airbus Industrie
- •The Real World
- •Cultural Awareness
- •Vocabulary
- •6. Business administration
- •6.1. Company structure discovering connections
- •What types of business are popular in your country?
- •Reading
- •Forms of Business Organization
- •Vocabulary Focus
- •Comprehension
- •Types of Companies and their Structure
- •Takeovers and Mergers
- •Flotation
- •Advising Companies
- •Key questions for the planning committee
- •Vocabulary
- •6.2. Management
- •Nature of Management
- •Vocabulary Focus
- •Management Styles
- •Corporate Culture
- •What Makes a Good Manager?
- •Useful language: Managing meetings.
- •Vocabulary
- •Glossary
- •6.3. Accounting
- •What is Accounting?
- •Vocabulary Focus
- •Accounting and Financial Statements
- •The Accounting Profession
- •Business Documents
- •The Balance Sheet
- •Income Statement
- •Bookkeeping
- •Vocabulary
- •6.4. Marketing
- •Concept of Marketing
- •Vocabulary Focus
- •Marketing Mix
- •Text 3 The Four Major Promotional Tools
- •Writing
- •Why Brands Matter
- •Vocabulary
- •Uniqueness n – уникальность
- •6.5. Advertising
- •Advertising
- •Vocabulary Focus
- •How Companies Advertise
- •Ad advertising campaign advertising standards advertisement advertising budget advertising agencies print
- •From the History of Advertising
- •Designing an Advertising Campaign
- •Endorsement
- •Planning Advertising Campaign
- •Vocabulary
- •ЛитературА
- •English for Economists
- •Тихомирова л. Б., Князева н. И., Рунцова э. В.
- •220050, Минск, пр-т Независимости, 4.
Free Trade
Listen to the first part of a radio interview with Ian McPherson, an expert on international trade. Complete the definition of free trade he gives.
It’s a situation in which goods come into and out of a country without any …….1 or …….2. Countries which truly believe in free trade try to ……3 their trade, that’s to say, they take away ……4 to trade. They have open ……5 and few controls of goods at ……6.
Listen to the second part of the radio interview. Note down five things which stop people trading freely. Explain briefly the meaning of each one. For example: 1 Tariffs. These are taxes on imported goods.
Listen to the third part of the radio interview and to the exercises.
1. When there is a policy of deregulation:
companies compete freely;
here are a lot of government controls;
companies must follow regulations.
According to Ian McPherson, what is the greatest benefit of free trade? Choose the best answer.
more choice of products;
better-made products;
more expensive products;
higher salaries;
a wider choice of jobs.
Complete this sentence.
Some countries do not practice free trade because they wish to:
fight against ……1 competition, for example, dumping;
protect their ……2 industries, because they are important to the economy;
be less ……3 on foreign imports, because their economies need developing.
What trend in international trade does Ian McPherson mention? Why does he think the trend is a good one?
Discuss these questions.
To what extent do you have free trade in your country?
Should certain industries in your country be protected? If so, which ones?
Is free trade always a good thing, in your opinion?
SPEAKING
A. Useful language: Complaining on the telephone.
COMPLAINING |
DEALING WITH COMPLAINTS |
Making the complaint I’m ringing to complain about… I’m sorry, but I’m not satisfied with… Unfortunately, there’s a problem with… |
Showing understanding Oh dear! Sorry to hear that. Mm, I see what you mean. I’m sorry about the problem/delay. |
Explaining the problem The CD player doesn’t work. There seems to be a problem with… We haven’t received the… |
Getting the facts Could you give me some details, please? What happened exactly? What’s the problem exactly? |
Insisting It really isn’t good enough. I’d like to know why… |
Making excuses/denying responsibility It’s not our policy to replace items. It’s not our fault that it hasn’t arrived. I’m afraid that’s not quite right. |
Threatening If you don’t replace the product, I’ll complain to the manager. If you can’t deliver on time, we’ll have to contact other suppliers. |
Promising action OK, I’ll look into it right away. I’ll check the details and get back to you. |
Ex. 1. Listen to a customer making a complaint. Answer these questions.
What is the customers’ complaint?
What solution does the customer service representative suggest?
What solution does the customer want?
How does the call end?
Ex. 2. Listen again and complete the extracts from the dialogue.
Customer services |
I’m sorry to hear that. What ……1 to be the ……2. |
Customer services |
Could you give me ……, 3 please? |
Customer services |
I’m afraid it’s ……5 to replace items. |
Customer |
Well, that’s not really ……6. |
Customer services |
All right then. Bring the machine in and we’ll see what ……7 for you. |
Ex. 3. One of you is the Production Manager for a power tools manufacturer. The other is a supplier of components. Role play the following telephone call. Use phrases from the Useful language box.
Production Manager |
Supplier |
Ring your supplier to complain about some electric motors (order No. PV 205) which have a number of defects (don’t fit, not up to usual standard, etc.). |
|
B. Role-play:
Divide into two groups – economists and the government.
The government use arguments to advocate trade restrictions.
The economists prove the benefits of free trade.
C. Discus the following issues:
Do you agree that people’s tastes today are more homogeneous? Why? Which products do you know of that are found in most parts of the world today?
To what extent do you have free trade in your country?
What does your country export and import? What are the reasons for this?
Which countries are your major trading partners?
Which ‘uneconomic’ (or internationally uncompetitive) sectors, if any, do you think should be protected in your country?
Would total free trade result in the creation of jobs, or in unemployment, in your country?
Is free trade always a good thing, in your opinion?
