Текстовые фрагменты публикации
Е. Ю. ПЕРШИНА
ФИНАНСОВАЯ ЭКОНОМИКА
(АНГЛИЙСКИЙ ЯЗЫК ДЛЯ МАГИСТРОВ)
Е.Ю. Першина
ФИНАНСОВАЯ ЭКОНОМИКА.
АНГЛИЙСКИЙ ЯЗЫК ДЛЯ МАГИСТРОВ
Учебное пособие
2-е издание, стереотипное
Рекомендовано УМО РАЕ по классическому университету
и техническому образованию в качестве учебного пособия
для студентов высших учебных заведений, обучающихся
по специальности: 080100(04) – «Финансовая экономика»
Москва
Издательство «Флинта»
2012
УДК 802.0(07)
ББК 81.2Англ-9
П279
Р е ц е н з е н т ы:
канд. филол. наук, доцент К.В. Боровикова;
канд. филол. наук, доцент И. Б. Косицына;
канд. филол. наук, доцент Г.А. Шушарина
Першина Е.Ю.
П279 Финансовая экономика. Английский язык для магистров [Элек-
тронный ресурс] : учеб. пособие / Е.Ю. Першина. – 2-е изд.,
стер. – М. : Флинта, 2012. – 89 с.
ISBN 978-5-9765-1382-2
В пособии рассматриваются основные аспекты финансовой экономи-
ки на основе аутентичного материала Международного Валютного Фонда,
Мирового банка, а также зарубежной прессы. Цель пособия – закрепление
терминологического минимума, необходимого для понимания экономиче-
ской литературы, обучение работе с научными источниками профессио-
нально-ориентированного характера, развитие навыков коммуникативной
направленности и преодоление языковых трудностей, характерных для
языка научно-экономической литературы. Рассчитано на 100 часов ауди-
торных занятий.
Предназначено для магистров 5–6 курсов специальности 080100(04)
«Финансовая экономика» и аспирантов экономических специальностей.
УДК 802.0(07)
ББК 81.2Англ-9
ISBN 978-5-9765-1382-2 © Издательство «Флинта», 2012
CONTENTS
ВВЕДЕНИЕ…………………………………………………………………
UNIT 1. ANALYTICAL READING, WRITING AND
DISCUSSION………………………………………………….......
Task 1. Skimming for main ideas………………………………………….
Text “Liberalization, Stabilization and Growth”………………………….
Task 2. Scanning through the text…………………………………………
Task 3. Discussing the content…………………………………………….
Task 4. Analyzing Text Structure………………………………………….
Text “China’s Dual-Track Price Reforms”………………………………..
Task 5. Summarizing………………………………………………………
UNIT 2. THE ART OF WRITING PRÉCIS AND ABSTRACT………...
Task 1. Précis / Abstract Writing………………………………………….
Patterns 1, 2, 3, 4…………………………………………………………..
Text “Taming Inflation in the Transition Economies”…………………….
Patterns 5, 6, 7, 8…………………………………………………………..
Text “Notes from Underground: the Growth and Costs of Unofficial
Economies”………………………………………………………………..
UNIT 3. ROUND-TABLE AND PANEL DISCUSSION…………………
Text “Audiences Get Lost – Give Them a Map”………………………….
Abstract “Panel Power” by Bill Hennefrund………………………………
Quotes for a round-table discussion……………………………………….
UNIT 4. PRACTICING WRITING SKILLS……………………………..
Article “Mastering the Written Word” by Lisa Pasquale………………….
Text “Developing Capital Markets”……………………………………….
UNIT 5. WRITING A SPEECH…………………………………………...
Article “So, You Need to Write a Speech” by Millie Gruber……………..
Text “Banking Reform in Transition Economies”………………………...
UNIT 6. QUATATION AND FOOTNOTING……………………………
Article “Select Your Quote with Care” by Richard Allen Stull…………...
Text “Guidelines to Footnoting”…………………………………………..
Text “Money Laundering: Muddying the Macroeconomy”………………..
UNIT 7. REPORT-WRITING……………………………………………..
Text “International Accounting Standards for Russian Banks”…………...
THESAURUS………………………………………………………………..
БИБЛИОГРАФИЧЕКИЙ СПИСОК……………………………………
APPENDICES………………………………………………………………
APPENDIX 1. ADDITIONAL TEXTS…………………………………..
APPENDIX 2. SCIENTIFIC SPEECH PATTERNS …………………….
APPENDIX 3. ACRONYMS AND INITIALS ……………………………
ОБ АВТОРЕ …….………………………………………………………….
ВВЕДЕНИЕ
Данное учебное пособие предназначено для магистров 5-6 курсов
специальности
080100(04)
«Финансовая
экономика»
и
аспирантов
экономических специальностей. В пособии рассматриваются основные
аспекты финансовой экономики на основе аутентичного материала
Международного Валютного Фонда, Мирового банка, а также зарубежной
прессы.
Цель
пособия
–
закрепление
терминологического
минимума,
необходимого для понимания экономической литературы, обучение работе с
научными
источниками
профессионально-ориентированного
характера,
развитие
навыков
коммуникативной
направленности
и
преодоление
языковых трудностей, характерных для языка научно-экономической
литературы.
Пособие состоит из 7 разделов (Units), посвященных отдельным видам
работы с научным материалом. В каждый раздел входят тексты для
лингвистического анализа, аналитического структурирования и научной
обработки, а также ряд предтекстовых и послетекстовых заданий. В конце
пособия
представлен
краткий
англо-русский
тематический
словарь
(Thesaurus) и приложения (Appendices).
Основной акцент разделов делается на совершенствование навыков
анализа научного текста по специальности с последующим написанием
аннотации и реферата на английском языке и развитие навыков
продуктивного академического письма, а именно: написание научных статей
и докладов с их последующей презентацией.
Предтекстовые и послетекстовые задания направлены на подготовку
лексической базы, глубокую проработку терминологической лексики,
активное
овладение
научно-экономической
терминологией
в
рамках
заданной темы.
Пособие снабжено словарем, где ключевые слова представлены в
составе наиболее частотных сочетаний в рамках рассматриваемых тем и
термины приводятся в том значении, в котором они употребляются в текстах
пособия.
В приложении 1 предлагаются тексты для контроля навыков
письменного перевода со словарем или просмотрового / ознакомительного
чтения (на усмотрение преподавателя). В приложении 2 приводится список
оборотов
научной
речи.
Приложение
3
включает
аббревиатуры,
используемые в экономических текстах по данной тематике.
Пособие рассчитано на 100 часов аудиторной работы.
Пособие может представлять интерес для лиц, ставящих своей целью
приобрести профессиональные навыки владения английским языком в
области экономики, и предполагает наличие базовых специальных знаний в
этой сфере.
UNIT 1
ANALYTICAL READING, WRITING AND DISCUSSION
Task 1. Skimming for main ideas
Skimming means reading a text without paying attention to details in order to get
an overview of the organization of the text and its main ideas. This will include
attention to title, headings, introduction and conclusion, as well as the beginnings
and ends of paragraphs. Skimming the text is an excellent pre-reading habit. When
you do a close reading of the text after skimming it, you will find that you read
more fluently and accurately.
Ex. 1 Skim through the text “LIBERALIZATION, STABILIZATION
AND GROWTH” and write in the number of the paragraph that deals with each
of the following topics:
a) Importance of stabilization for transition;
b) Differences between countries in initial condition;
с) Necessary steps for improving economic performance;
d) Important parallels between transition countries;
e) Importance of liberalization.
LIBERALIZATION, STABILIZATION AND GROWTH
1. Across the transition economics, extensive liberalization and determined
stabilization have both been vital for improving economic performance.
Liberalization involves freeing prices, trade, and entry from state controls;
stabilization means reducing inflation and containing domestic and external
imbalances. The two are intricately linked and can and should be initiated early. In
the longer term, institutional reforms – establishing clear property rights, sound
legal and financial infrastructure, and effective government – will be needed to
make markets work efficiently and support growth. But liberalization and
stabilization are essential first steps, and they can achieve a great deal even when
other key features of an effective market are lacking.
2. Why is liberalization so important? It decentralizes production and trading
decisions to enterprises and households and directly addresses the two fundamental
weaknesses of central planning: poor incentives and poor information.
Liberalization exposes firms to customer demand, the profit motive, and
competition and it lets relative prices adjust in line with true scarcities. Liberalized
markets process information better than central planners, and when goods and
services are traded freely, the price mechanism – Adam Smith’s invisible hand –
matches demand and supply. In most cases the outcome is efficient. Combined
with supporting institutions, competitive markets unleash powerful processes to
force technological and organizational change. Whereas planned economies
experienced low or negative overall productivity growth despite high capital
accumulation, least half of output growth in advanced market economies since
World War II has resulted from productivity gains. Creating markets is an
investment in a more dynamic system of economic coordination that fosters long-
run productivity and output growth. Finally, liberalization, by politicizing resource
allocation, helps governments cut subsidies to firms and thus facilitates economic
stabilization.
3. Stabilization policy is vital for transition because macroeconomic
imbalance denies countries the gains of market reforms. Evidence from a wide
range of market economies shows that once annual inflation rises above a
threshold level around 40 percent, growth deteriorates dramatically. High inflation
obscures relative price incentives and creates uncertainty, inhibiting saving and
investment. Therefore, price stabilization always complements liberalization as a
basis for growth; as shown below, some transition countries have liberalized faster
than others, but none has registered sustained growth without containing inflation
at moderate levels.
4. There are some important parallels between Asian and European
transition economies in the relationships between liberalization, stabilization, and
growth. In all regions growth has largely resulted from the lifting of restrictions on
new entry and a surge of previously repressed activities, especially services and
export industries (and agriculture in Asia). Freeing prices and trade, reducing
subsidies, and containing credit can also revitalize growth in previously dominant
sectors, by increasing the competitive and financial pressure on firms to
restructure.
5. However, there are also major differences between countries – in initial
conditions, in approaches to macroeconomic reforms, and in outcomes. In China
the initial economic structure combined with strong, macroeconomic control has so
far allowed large growth gains from partial liberalization to translate into high
saving and a rapid buildup of financial assets by households. This has helped
cushion a state sector that remains a drag on the economy – even though its
efficiency may be improving and its relative size is shrinking – and has
underwritten the reform process itself. Gradual, partial reforms were not an option
for most CEE countries and NIS. There only broad-based liberalization has
allowed governments to cut their links with firms enough to bring inflation down
to levels that would permit economic recovery. These countries all suffered a large
decline at first. But those that liberalized early and comprehensively were able to
stabilize the economy sooner and enjoy an earlier, stronger resumption of growth.
© World Development Report
Task 2. Scanning through the text
Scanning involves looking quickly through a text to find a specific word or piece
of information. There are often times when it is necessary to do this, such as when
studying for a test or writing a paper, so it is a useful skill to practice.
Ex. 2 Scan the text to find information on the following aspects:
a) certain economic measures indispensable for liberalization and stabilization;
b) a threshold level of annual inflation above which growth deteriorates dramatically;
c) important parallels between Asian and European transition economies;
d) major differences between transition economies.
Ex. 3 Before you read the text, study key words and word-combinations
and give Russian equivalents for them.
Key words and words-combinations:
extensive / broad-based liberalization − ________________________________
determined stabilization − ___________________________________________
to reduce inflation / to curb inflation / to contain inflation / to bring inflation down
− __________________________________________________________
to contain domestic and external imbalances − ___________________________
institutional reforms − ______________________________________________
to establish clear property rights − ____________________________________
to establish sound legal and financial infrastructure − _____________________
to establish effective government − ____________________________________
to decentralize production and trading decisions to enterprises and households −
________________________________________________________________
to address the two fundamental weaknesses of central planning − ____________
to let relative prices adjust in line with true scarcities − ____________________
to foster long-run productivity and output growth − _______________________
to facilitate economic stabilization − ___________________________________
to deteriorate growth dramatically − ___________________________________
threshold level − __________________________________________________
to obscure relative price incentives − __________________________________
to inhibit saving and investment − _____________________________________
to lift restrictions − ________________________________________________
to complement liberalization by price stabilization − ______________________
to register sustained growth − ________________________________________
to revitalize growth − _______________________________________________
to increase the competitive and financial pressure on firms − _______________
initial conditions − _________________________________________________
to translate into high saving and a rapid buildup of financial assets − _________
to underwrite the reform process − ____________________________________
to cushion a state sector − ___________________________________________
Ex. 4 The vocabulary exercises below will help you to master the key
vocabulary. It will provide you with the required vocabulary to speak on the
problems under consideration. Find in the text English equivalents for the
following word-combinations.
последовательная стабилизация − ___________________________________
институциональные преобразования − _______________________________
способствовать стабилизации экономики − ___________________________
широкомасштабная либерализация − ________________________________
реорганизовывать государственный аппарат − ________________________
устанавливать четкие права собственности − _________________________
искажать относительные ценовые стимулы − _________________________
сопровождать либерализацию стабилизацией цен − ____________________
резко замедлять развитие экономики − _______________________________
поддерживать (отвечать за) процесс реформ − ________________________
устанавливать оптимальную правовую и финансовую инфраструктуру
−
________________________________________________________________
сокращать инфляцию − ____________________________________________
пороговый уровень − ______________________________________________
обуздать инфляцию − _____________________________________________
преодолевать
диспропорции
в
народном
хозяйстве
и
во
внешнеэкономической
сфере −
_____________________________________________________
предоставлять предприятиям и населению право самостоятельно принимать
экономические решения − _____________________________________
обратиться
к
двум
фундаментальным
проблемам
централизованной
экономики
−
__________________________________________________________
способствовать устойчивому росту производительности труда и объёма
производства − ___________________________________________________
мешать накоплению сбережений и инвестированию − __________________
достигать устойчивого роста − ______________________________________
способствовать возобновлению экономического роста − ________________
привести к увеличению сбережений и быстрому наращиванию финансовых
средств − ____________________________________________________
ставить предприятия в условия конкуренции и жестких бюджетных
ограничений
−
_______________________________________________________
Ex. 5 Find the following word-combinations in the text
“LIBERALIZATION, STABILIZATION AND GROWTH” and think of
corresponding Russian equivalents.
across the transition economy − ______________________________________
to improve economic performance − ___________________________________
to free prices and trade − ____________________________________________
to free entry from state controls − _____________________________________
to be intricately linked − ____________________________________________
to make markets work efficiently − ____________________________________
poor incentives − __________________________________________________
liberalized markets process information better − _________________________
the price mechanism matches demand and supply − _______________________
to experience low or negative overall productivity growth − ________________
advanced market economies − ________________________________________
creating markets is an investment in a more dynamic system of economic
coordination −
________________________________________________________
to cut subsidies to firms − ___________________________________________
to depoliticize resource allocation − ___________________________________
macroeconomic imbalances denies countries the gains of market reforms
−
________________________________________________________________
lifting restriction on new entry − ______________________________________
a surge of previously repressed activities, especially services and export industries
− ___________________________________________________________
to reduce subsidies − _______________________________________________
to contain credit − _________________________________________________
to let relative prices adjust in line with true scarcities − ____________________
combined with supporting institutions, competitive markets unleash powerful
processes − _______________________________________________________
Ex. 6 Word Study.
Analysing Economic Situation / Describing Trends
Analysing economic situations and describing trends economists use modifying
words and strong verbs to specify considered processes. Various movements are
usually classified as: Upward, Downward, Static.
Upward Trend
to increase / to raise smth;
to go up;
Downward Trend
to decrease;
to decline / to go down;
to rise – rose – risen;
to step up / to drive up;
to speed up;
to accelerate;
to soar;
to skyrocket.
to fall – fell – fallen;
to slow down;
to come down;
to drop;
to sink – sank – sunk;
to plummet / to plunge.
Static Trend
to maintain;
to keep up;
to ensure;
to secure.
Degree of Change
considerable – considerably;
substantial – substantially;
significant – significantly;
steep – steeply;
steady – steadily;
moderate – moderately;
slight – slightly;
negligible – negligibly.
Ex. 7 In the text “LIBERALIZATION, STABILIZATION AND
GROWTH” the author uses the following verbs and modifiers. Sort out the given
words under the suggested titles.
to sustain
to adjust
extensive
to accumulate
to cushion
dramatic
to force
to reduce smth
rapid
to foster
to restrain
vast
to facilitate
to remain
huge
to inhibit
to revitalize
gradual
to curb
to stabilize
partial
to deteriorate
to shrink
broad
to cut
comprehensive
strong
Ex. 8 Give Passive Participles of the above given verbs and translate them
into Russian.
Ex. 9 Give adverbs where possible corresponding to the above given
adjectives and provide collocations with them.
Ex. 10 Describe the trends in transition economies characterizing the
following economic parameters: production, productivity growth, subsidies to
firms, technological changes, stabilization, annual inflation, credit, pressure on
firms to restructure, household saving, financial assets.
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