English on Economics

С.А. Шевелёва




English on Economics


Третье издание, переработанное и дополненное



Рекомендовано Министерством образования Российской Федерации в качестве учебного пособия для студентов высших учебных заведений, обучающихся по экономическим специальностям

Рекомендовано Учебно-методическим центром «Профессиональный учебник» в качестве учебного пособия для студентов высших учебных заведений








юнити UNITY

Москва • 2017

УДК 811.111(075.8)
ББК 81.2Англ-923
     Ш37

Рецензенты:
канд. экон. наук В.А. Овсянникова (Финансовая академия при Правительстве РФ);
канд. филол. наук Р.В. Ольшевская (Московский государственный лингвистический университет);
профессор В.В. Шпрынов
        (Московский государственный лингвистический университет)


Главный редактор издательства Н.Д. Эриашвшш, кандидат юридических наук, доктор экономических наук, профессор, лауреат премии Правительства РФ в области науки и техники



      Шевелёва, Светлана Александровна.
Ш37 English on Economics: учеб. пособие для студентов вузов / С.А. Шевелёва. — 3-е изд., перераб. и доп. — М.: ЮНИТИ-ДАНА, 2017.           — 439 с. — (Серия «Special English for
      Universities, Colleges»).
         ISBN 978-5-238-01587-3

         В третьем издании (предыдущие издания — ЮНИТИ, 1998, 2004) значительно расширены экономические темы и экономическая лексика. Текстовая часть пособия — газетные и журнальные статьи, аннотации зарубежных учебников по экономике, деловые письма, лекции и выступления. В новое издание включены грамматика и закрепление грамматических правил, фонетические упражнения. Лексические и речевые упражнения ориентированы на написание кратких эссе по темам, рефератов, обсуждение тем, переводы.
         Для студентов, обучающихся по экономическим специальностям, владеющих английским языком в объеме средней школы и продолжающих изучение языка в вузе. Пособие может быть полезно широкому кругу лиц, изучающих экономику и английский язык.


ББК 81.2Англ-923

ISBN 978-5-238-01587-3 © ИЗДАТЕЛЬСТВО ЮНИТИ-ДАНА, 1998, 2004, 2009
                          Принадлежит исключительное право на использование и распространение издания.
                          Воспроизведение всей книги или какой-либо ее части любыми средствами или в какой-либо форме, в том числе в Интернет-сети, запрещается без письменного разрешения издательства.
                          © Оформление «ЮНИТИ-ДАНА», 2009

            Contents



 Lesson 1. You are a student of economics                     11
 Conversation:           Teacher and students                   
 Texts:                 Adam Smith                              
 Economics                                                      
 Economics reading room                                         
 Annotations:            The Economics of Networks Industries   
 Entertainment Industry Economics                               
 Grammar:              The Present Indefinite Tense             
 The Past Indefinite Tense                                      
 The Active and the Passive Voice                               
 Word formation:        Suffixes of nouns                       
 Lesson 2. Economics and economy                              31
 Conversation:           Teacher and students                   
 Texts:                 Microeconomics and macroeconomics       
 GDP and GNP                                                    
 Annotation:             Topics in Microeconomics               
 Newspaper items:       Further growth in Russia’s GDP          
 Path to Turkish rate cut open as growth slows                  
 Brazil’s economy grows by 5.4%                                 
 Grammar:              The Future Indefinite Tense              
 Word formation:        Prefixes of nouns                       
 Lesson 3. Sales and products                                 51
 Newspaper items:       The Times pulls even further ahead      
 Unwilling spenders hit German growth                           
 Record industry turns fire on individual piracy                
 Conversation:           Teacher and students                   
 Texts:                   Retailers and wholesalers             
 Product life cycle                                             
 Grammar:             The Present Perfect Tense                 
 The Present Continuous Tense                                   
 Articles                                                       
 Word formation:        Conversion                              

3

Lesson 4. People and economy                            71

Dialogue:       A stockbroker                                  
Annotation:     Economics and Culture                          
Texts:          The economy                                    
                Economic activity and business cycle           
                Economic man                                   
Newspaper item: Eurozone economic growth to slow in second half
Grammar:        The Past Perfect Tense                         
                Modal Verbs                                    
                The Past Continuous Tense                      
                Articles                                       
Word formation: Suffixes of adjectives                         

Lesson 5. Markets and production 91

Dialogue:        Selling cars                                         
Newspaper items: Toyota profits boosted by weak yen and strong sales  
                 In the industry biosphere, only the strongest survive
                 Blyk taps European mobiles                           
Text:            Market schema                                        
Annotation:      From Silicon Valley to Singapore                     
Grammar:         Participle I                                         
                 The Rules of the Sequence of Tenses                  
                 Attributes                                           

Word formation:        Prefixes of adjectives
Lesson 6. Prices and money                                          115

Lecture:         Price elasticity                          
Text:            Price support                             
Newspaper items: N Korea forced to lift food prices sharply
                 Gold provides refuge from declining dollar
Business letter: Regretting price increase                 
Annotation:      Bimetallism                               
Grammar:         The Gerund                                
                 Tag-questions                             
                 General negative questions                
                 if-, when-clauses                         
                 The Present Perfect Continuous Tense      
Word formation:  Suffixes and prefixes of verbs            

4

Lesson 7. Types of economies                                 138

Interview:       Economies and manufacturing                   
Texts:           Allocation of products and resources          
                 Public and private sectors in the UK          
Newspaper items: UK may move to save British Energy            
                 Bush vows to 'do what it takes' for economy   
Annotation:      Between Politics and Markets                  
Grammar:         many --- much; few, a few --- little, a little
                 Equivalents of modal verbs                    
                 Participle II                                 
Word formation:  Compounds                                     

Lesson 8. The transitional economy                                       163

Dialogue:              About a lecture on Hungary                             
Text:                  The Russian Federation                                 
Annotations:           The Vanishing Rouble                                   
                       Building capitalism                                    
                       The New Russia                                         
Newspaper items:       Privatisation in doubt                                 
                       Europeans gloomy on economy but shun US model          
                       Europed together                                       
Grammar:               The Infinitive                                         
                       The Adverb                                             
                       The Degrees of Comparison                              
| Lesson 9. Production                                                     191
Speech:                The quality of the goods produced                      
Texts:                 Production function                                    
                       Production possibility boundary                        
Figure:                Location of production                                 
Business letter:       Industrial and office accommodation                    
Newspaper item:        Drought forces Australia to cut wheat forecast by third
Grammar:               Object clauses                                         
                       Attributive clauses                                    
                       The pronoun one                                        

Lesson 10. Companies 213

Dialogue:        A job interview   
Business letter: Offering an agency

5

Text:            An Apple a day                                   
Newspaper items: IKEA founder ends uncertainty by saying sons will
                 take over                                        
                 Companies 'bigger than many nations'             
Annotation:      The Entrepreneurship Dinamics                    
Grammar:         Conditionals                                     
                 The Absolute Participial Construction            
                 The word other                                   
                 The word which                                   

Lesson 11. People and labour                               238

Conversation:   Labour conditions                       
Texts:          The sources of economic health          
                Thomas Maltus                           
                Labour market                           
Annotations:    Work, Employment and Society            
                The American Workplace                  
Newspaper item: Brussels' plan to give temps more rights
Grammar:        Indefinite Pronouns and Adverbs         
                Complex Object                          

Lesson 12. Demand and supply                                263

Lecture:         Equilibrium, shortage and excess      
Texts:           The discoverers of the laws           
                 Demand and supply curves              
                 John Maynard Keynes                   
Newspaper items: US to list exempted products next week
                 Mini helps lift BMW earnings          
Grammar:         Subject clauses                       
                 Clauses of reason                     
                 Possessive Case of nouns              

Lesson 13. Monopolies, markets and competition 286

Interview:       McDonalds may face fierce competition        
Texts:           Monopolies in the UK                         
                 Monopolistic competition                     
Annotation:      Market Structure and Competition Policy      
Newspaper items: World Cup gives Adidas a kick start          
                 Israel diamond market counts cost of conflict
Grammar:         Indirect Speech                              

6

Lesson 14. Newspapers, profits and prosperity________________311

Texts:           Newspaper headlines                                         
                 Profit                                                      
                 Profit maximisation                                         
Radio report:           From the spot                                       
Newspaper items:       Volvo earnings rise                                  
Hair cosmetics help increase Henkel profits                                 
Latin America dents Wella                                                   
Grammar:             The Complex Subject                                    
Modals and Perfect Infinitives                                              
Lesson 15. Capital, loans, credits                                       337
Text:                   The terms                                           
Dialogue:               A syndicated loan                                   
Business letter:          Request for a loan without security               
Annotation:             The Political Economy of Capital Controls           
Newspaper items:       Ford succeeds in defusing credit unit time bomb      
China’s regulators announce rules to tackle capital                         
flight                                                                      
Use of English:         The press and media                                 
Lesson 16. Investments                                                   363
Dialogue:               Negotiating an investment                           
Business letter:          Personal investment                               
Text:                    Investment                                         
Newspaper items:       Investors positive in face of weak economic data     
Global investment bank seeking banking licence                              
Use of English:         US English                                          
Lesson 17. Stock market                                                  383
Texts:                   UK markets in securities                            
Share price indices                                                          
Radio report:           On the stock markets                                 
Newspaper items:       Nikkei drops below 9,500 after S&P's credit warning   
Markets plunge on fears of US slowdown                                       
Use of English:          Abbreviations                                       
Lesson 18. Commodity markets                                401              
Radio report:    On the commodity market                                    
Text:            Spot market and quotations                                 
Newspaper items: Gold imports to Japan show sharp increase                  

7

                Comments from OPEC help lift futures prices
                US wheat prices soar to record             
                Corn and soybean battle                    
Use of English: Idioms and fixed expressions (general)     

Lesson 19. Foreign exchange markets and currencies                  415

Text:            Market and rates                                
Radio report:    From the currency markets                       
Newspaper items: Record high euro not blamed for slowdown --- yet
                 Dollar in focus                                 
Annotation:      Monetary Policy in the Euro Area                
Use of English:  Idioms connected with problematic situations    

Lesson 20. Government and budget                         427

Speech:               The role of government                     
Text:                 UK government budget                       
Newspaper items:      Spain ‘baby-cheque’ budget targets families
                      France's confused budget                   
                      Warning on Dutch budget surplus            
Use of English:       Proverbs                                   
Key to some exercises                                         436

8

            К читателю






  Уважаемые студенты!
  Учебное пособие «English on Economics» предназначено для студентов экономических вузов и факультетов. В книге представлены следующие темы: экономика как наука, экономика и экономисты, рынки и производство, спрос и предложение, рынок труда, государственный бюджет, деньги и цены, капиталовложения и инвестиции, типы компаний, прибыль, налоги, биржи и рынки и др.
     Вам предстоит поработать с разнообразными экономическими текстами. Это аннотации к зарубежным учебникам, статьи из экономических энциклопедий и словарей, статьи из английских и американских газет и журналов, деловые письма, диалоги, сообщения, звучащие в радио- и телеэфире.
     Эти тексты помогут вам лучше запомнить основные экономические термины, научиться читать деловую прессу, слушать экономические новости, обсуждать некоторые профессиональные вопросы на английском языке.
     Облегчить изучение языка вам помогут словарные пояснения, фонетические, грамматические и лексические упражнения. Некоторые сведения будут, наверное, для вас новыми и полезными. Используемые в книге рисунки, схемы, диаграммы, шаржи несколько оживят этот сложный учебный процесс.
Желаю вам успехов в учебе и интересной работы в будущем!


I wish all the best in your studies, and very interesting work in future. Let your future be prosperous and happy too!


9

     Уважаемые преподаватели!



      Прежде чем начать заниматься по этому учебному пособию, проведите небольшую беседу с вашими студентами по одному из первых монологических текстов. Это даст вам возможность определить, с какого урока лучше начать обучение.
         Предполагается, что на работу с каждым текстом и упражнениями к нему необходимо около одного академического часа, или шесть академических часов на урок. Следовательно, материал всего учебного пособия рассчитан на 130 академических часов.
         Работа над каждым типом текстов строится по-разному. Конечная цель работы над диалогом — умение составлять аналогичный диалог; при работе над экономическим текстом конечная цель — выработать умение читать, переводить и кратко излагать сущность прочитанного устно и письменно. Работа над газетными статьями должна послужить развитию навыка чтения, выбора главного, адекватного перевода отдельных наиболее значимых предложений, чтения и понимания заголовков статей.
         При работе над грамматикой следует ограничиться функциональным принципом отбора материала, предложенного автором, — ведь объять все невозможно.
         Обратите внимание на фонетические упражнения к диалогам и монологическим отрывкам устной речи. Эти упражнения позволят отрабатывать наиболее трудные звуки, интонацию и ритм речи, полные и сокращенные формы и другие трудности.
         Лексические упражнения позволяют отрабатывать наиболее типичные единицы речи. Общий объем лексики составляет около 4000 единиц общего и терминологического характера.
         Речевые упражнения направлены на развитие навыков диалогической и монологической речи с использованием указанных конструкций и речевых образцов в предлагаемых коммуникативных ситуациях бытовой и профессиональной коммуникации.
         Для лингафонных занятий используйте материалы по общебытовой и страноведческой тематике.


С.А. Шевелева



10

Lesson You are a student
1           of economics
Conversation:   Teacher and students                
Texts:          Adam Smith                          
                Economics                           
                Economics reading room              
Annotations:    The Economics of Networks Industries
                Entertainment Industry Economics    
Grammar:        The Present Indefinite Tense        
                The Past Indefinite Tense           
                The Active and the Passive Voice    
Word formation: Suffixes of nouns                   

        Conversation: Teacher and students

Teacher:  Good morning, young men!                                
Students: Good morning.                                           
Teacher:  I'm your teacher of English. My name is Svetlana        
          Alexandrovna. And what are your names, please?          
Student:  My name is Peter Novikov.                               
Student:  And I am Mike Pilov.                                    
Teacher:  Very good. Are you happy that you are students of       
          economics now?                                          
Students: Yes, we are.                                            
Student:  As to me, I'm very happy to be a student of this Univer          sity. When I finished school I wanted to enter this par          ticular University, and no other.                       
Teacher:  By the way, did you study economics at school?          
Student:  No, I didn't. I studied only the economy of Russia.     
Student:  But we studied the economy of Great Britain too.        
Teacher:  Was it an ordinary or specialized school?               

11

       Student: It was a specialized school. We studied a few subjects in English.
       Teacher: Very good. Now let's start our first English lesson at the University!


        Do you know these words?

economics             ['i:kE~nomiks]   
Economics is an       [I~konEmI]       
important science.                     
economy                                
to finish school                       
to enter a university [ju:ni~vE:siti]  
to graduate from a    [~Gr9djueIt]     
university                             
undergraduate         [~VndE~Gr9djuEt] 
postgraduate          ['POUSt~Gr9djUEt]
particular                             
by the way                             
subject               [~sVbd3Ekt]      

What subjects are you studying?

экономика (наука) Экономика — важная ^аука.

экономика (страны, мира)
окончить 0коёу поступить в инсти-тут/университет закончить инсти-тут/университет старшекурсник
аспирант
особый, отдельный
между прочим предмет
Какие предметы вы изучаете?


Work on the words!
1 Read these words paying attention to the sounds:

      [w]    [7]                     
we    what   this  the economy      
when  want   these the university   
way   wants  that  at the university
was   wanted those by the way       
why   ways   them  on the way       
will  were   their the country      
where week   the   in the country   

12

Read these words paying attention to the stress:
 'eco~nomics          economist               'economically
 e~conomy             'eco~nomic              to economize
 e~conomies           'eco~nomical            e~conomizer
     Note: Ударение обычно ставится перед ударным сёогом.

 3   Choose the correct word:
     I am a student of (economy, economics) now.
     At school, I didn't study the (economy, economics) of Great Britain.
     I hope he'll make a good (economist, economy).
     There are many (economic, economical) problems in the world.
     This car is very (economic, economical).
     I try to spend money and time (economical, economically).
     This car (economize, economizes) fuel.


        Grammar: The Present and Past Indefinite
        Tenses of the verb to be

Present Indefinite                 Past Indefinite             
                        Утвердительная форма                  
I am ...      We are .  I was .              We were ...      
She is ...    You are   He was .             You were ...     
He is ...     They are  .      She was .     They were ...    
It is ...               It was .                              
Am I ...?               Вопроситетиая форма                   
Is he ...?    Are we .  ?    Was I .?        Were we ...?     
Is she ...?   Are you . ?    Was he .?       Were you ...?    
Is it...?     Are they  .?   Was she .?      Were they ...?   
                        Was it .?                             
I am not...              Отрицатеёышя форма                   
He is not ... We are not . I was not .       We were not...   
She is not .. You are not . He was not .     You were not ... 
It is not ... They are not . She was not .   They were not ...
              It was not .                                    

13

Choose the correct form:
     I (am, is) a student now.
     We (is, are) all students now.
     He (am, is) a student of mathematics.
     (Is, Are) she a mathematician?
     She (was, were) a student of this college.
     He (is, am) not English.
     They (was, were) in London at that time.
     (Was, were) he in London too at that time?


        The Present and Past Indefinite Tenses
        of other verbs

      Present Indefinite                      Past Indefinite                 
                    Утвердитеё  тиая форма                We studied .       
I study .           We study .  I studied .               You studied.       
He studies .        You study.  She studied.              They studied.      
She studies.        They study. He studied .                                 
                            Вопросителыая форма                              
                    Do we study.?   Did I study.?         Did we study.?     
Do I study.?        Do you study.?                        Did you study.?    
Does he study.?     Do they study.? Did he study.?        Did they study.?   
Does she study.?    Did she study.?                                          
                            Отрицательная форма                              
                    We do not study. I did not study.     We did not study.  
I do not study.     You do not study.                     You did not study. 
He does not study.  They do not study. He did not study.  They did not study.
She does not study. She did not study.                                       

  5  Choose the correct form:
     He (like, likes) English.
     They all (like, likes) English.
     She (do not, does not) speak English.
     Did you (study, studied) German at school?
     She did not (study, studied) French at the university.
     I did not (like, liked) mathematics.
     I did not (study, studied) the economy of the USA at school.

14

        Have another look at the conversation and...

 6   Answer these questions:
     What is the name of the teacher?
     What are the names of the students?
     How many students do you think there are in the group?
     Are they all happy to be students of economics?
     What schools did they finish?
     Did they study economics at school?
     What economies did they study?

 7   Give English equivalents of these sentences from the conversation:
     Когда я окончил 0коёу, я хотеё поступить именно в этот университет и ни в какой другой.
     Между прочим, вы изучали экономику в 0коёе?
     Это быёа обычная 0коёа иёи спец0коёа?
     Мы изучаёи несколько предметов на английском языке.
     А теперь начнем наш первый урок английского языка.

 8   Enact the above conversation and a similar one.

 9   Write half a page about your studies at school.


        Text: Adam Smith

 Adam Smith was a great scientist who made extraordinary contributions in economics.
 He was born in 1723 in Kirkcaldy, a small fishing town near Edinburgh, Scotland. His father was a customs officer. He died before his son was born.
 At the age of 28 Adam Smith became a Professor of Logics at the University of Glasgow. It was his first academic appointment. Some time later he became a tutor to a wealthy Scottish duke. Then he received a grant of £300 a year. It was a very big sum, 10 times the average income at that time.
 With the financial security of his grant, Smith devoted 10 years to writing his work which founded economic science. Its full title was An Inquiry into the Nature and Causes of the Wealth of Nations. It was published with great success in 1776.
     Adam Smith made economics a science. This Scottish economist is often regarded as the founder of political economy too.

15

        Do you know these words?

to make a contribution                   вносить вклад во что-  
to/in smth                               ёибо                   
customs                    [~kVstEmz]    таможня                
to undergo customs                       пройти таможенный      
formalities                              досмотр                
customs officer                          таможенник             
                           [E~poIntmEnt] 1) назначение          
appointment                              2) деёовая встреча     
to make an appointment                   договориться о встрече 
tutor                      [~tju:tE]     преподаватеёь --- ру-  
                                         ководитеёь работы со   
                                         студентами (в универ-  
                                         ситете, институте, коё                                         ёедже)                 
wealth                     [wel0]        богатство              
wealthy                    [~wel0I]      богатый                
syn. rich                                синоним богатый        
ant. poor                                антоним бедный         
average                    [~9vErI2]     средний,     средне-   
                                         арифметический         
income                     [~INkVm]      доход                  
net income                               чистый доход           
security                   [sE~kjuErItI] 1) обеспечение         
to devote smth to smb                    2) безопасность        
work of arts                             посвящать что-ёибо     
to found                                 кому-ёибо              
title                                    произведение искус-    
                                         ства                   
                                         основывать             
                                         1) название,загоёовок  
                                         2) право собственности 
                                         3) доёжность, звание   
enquiry (=inquiry) of/into [In~kwaIErI]  исследование чего-     
smth                                     ёибо                   
enquiry (=inquiry) for                   (коммерческий) за-     

16