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19.Обучение чтению экономической литературы на английском языке. в 4-х частях. Часть 2.

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УДК 802.0
ББК 81.2 Англ-923
Р е ц е н з е н т И.Ф. Беликова
Oбучение чтению экономической литературы на английО267 ском языке: учеб.-метод. пособие / Л.А. Иванова, Т.И. Кузнецова, З.Р. Лазарева, Л.И. Можайко: В 4 ч. – Ч. 2. – М.: Изд-во
МГТУ им. Н.Э. Баумана, 2009. – 52 с.
Учебно-методическое пособие предназначено для обучения переводу и пониманию экономической литературы на английском языке. Пособие состоит из трех уроков. Каждый урок объединен одной
тематикой и содержит: основной текст, назначением которого является обучение чтению экономической литературы, дополнительные
тексты для поискового чтения, упражнения на активизацию лексического и грамматического материала, англо-русские предтекстовые
Для студентов младших курсов факультета ИБМ.
УДК 802.0
ББК 81.2 Англ-923
Учебное издание
Иванова Людмила Андреевна
Кузнецова Тамара Ильинична
Лазарева Зоря Русланoвна
Можайко Лидия Ивановна
Часть 2
Корректор М.А. Василевская
Компьютерная верстка В.И. Товстоног
Подписано в печать 06.07.2009. Формат 60×84/16.
Усл. печ. л. 2,79. Тираж 300 экз. Изд. № 60.
Издательство МГТУ им. Н.Э. Баумана.
Типография МГТУ им. Н.Э. Баумана.
105005, Москва, 2-я Бауманская ул., 5.
c МГТУ им. Н.Э. Баумана, 2009
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Настоящее учебно-методическое пособие представляет собой
вторую часть пособия «Обучение чтению экономической литературы на английском языке». В совокупности с первой частью оно
включает основной грамматический и лексический материал, предусмотренный программой для студентов первого курса неязыковых вузов.
Пособие составлено на материале оригинальной британской
экономической литературы. Оно состоит из трех уроков (Units). В
каждый урок входят основной текст, грамматические и лексические упражнения, дополнительные тексты, словарь.
Упражнения составлены в соответствии с требованиями отечественной и зарубежной методики преподавания и контроля языковых знаний. Имеются упражнения, направленные на развитие
навыков устного и письменного перевода экономической литературы как с английского языка на русский, так и с русского языка
на английский. Основной и дополнительные тексты служат цели
развития навыков чтения и понимания оригинальной литературы.
Текстовый материал содержит много информации, представляющей интерес для студентов, изучающих бизнес и менеджмент.
Вторая часть пособия предназначена для студентов второго семестра факультета «Инженерный бизнес и менеджмент».
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The Object. Object Clauses
The Sequence of Tenses
The Attribute. Attributive Clauses
Phrasal verbs: coincide with; lead to/up; place on/in/with/; follow
on/out; throw up/out/ of; throw away/ on.
1. Make up indirect questions.
Every person wanted to know
1. Does a growing economy mean
a developing economy?
2. Are many changes in economy
an integral part of growth?
3. Will firms decline as their profit
becomes obsolete?
4. How long has the country
been producing new goods for
5. What can encourage the
development of businesses?
6. Could governments help promote
economy growth by increasing
their own expenditure?
7. Have small enterprises got any
support from the government at the
time of financial default?
2. Open the brackets, use the proper tense.
Мг. S arrived at the border by train. A porter саme into the
compartment and asked if he (wish) to remove the luggage from the
rack and whether he (have got) anything mоге in the luggage-van.
The next came a customs officer and asked what he (have) to declare.
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Mr S. answered that he (not know) what he (be allowed). The officer
gave him а list of prohibited and duty-free articles and ordered him (to
open) а trunk. The next question was how much foreign currency he
(to be carrying). At last the officer took out some stamps and pasted
on the suit-case. Не explained that he did it to show that the luggage
(have been cleared) at the Customs.
3. Look at the list of things Rachel said to you, then tell another
person what she said. Use reported speech.
1. I’m going to work in Spain next year.
2. I work for a small publishing company.
3. I’m their marketing manager.
4. The company has opened the subsidiary in Barcelona.
5. It’s been very successful.
6. I’ve been chosen to run a new office in Madrid.
7. I don’t have much time to enjoy myself.
8. I haven’t had lunch with a friend for ages.
9. I’m studying Spanish in the evenings.
10. I hope my friends will come and visit me in Madrid.
11. I went there last week with my secretary.
12. We didn’t have much time for sightseeing.
13. I have to get back to work now.
4 a) Tony is being interviewed for a job. Look at the interviewer’s
notes and Tony’s answers, then put questions.
Age? How old are you?
Live locally?
When/leave school?
Which /school/go?
Who/work for?
How long?
Enjoy/present job?
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b) After the interview Tony told his friends what he had been
asked. Mind the correct word order in the clause.
1. She asked me how old I was.
2. She asked me . . .
Change the sentences 2 – 10.
5. Rewrite the sentences beginning in the way shown.
1. “Which company is looking for a good salesman?” asked
Tom. Tom asked (me) which company was looking for a good
2. “Does your organization need people for a short period of time?”
asked Ann.
Ann asked
3. “What do the customers like in the company: prices or service?” –
asked Jenifer.
Jenifer asked
4. “How often do you take part in the International Trade Fairs?”
asked the company’s guest.
The guest wanted to know
5. “Do you have an appointment?” said the clerk.
The clerk asked
6. “Have you seen the file with our new contract?” asked the
manager his secretary.
The manager wondered
7. “What kinds of advertisements do you consider to be the most
effective? ” asked a reporter.
A reporter asked
8. “Is the full set of goods displayed in the company?” asked
Richard a travel agent.
Richard asked
9. “When can I see the production manager?” Charles asked the
Charles asked
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6. Most of the following sentences contain one mistake. Correct it.
1. When I asked Joan about her work she said she had lost her job
and is short of money.
2. The production director explained that the Rover car company
invested 1400 million to manufacture a new car model named
3. The lecturer explained the student that a partnership is a business
formed for profit by two or more co-owners.
4. When a company services the machinery after it has sold the
product, it provides after-sales service.
5. We were disappointed when the receptionist told that the hotel
was fully booked that week.
6. The sales manager announced that the new model goes on sale
next spring..
7. The manager told to call him if the front-desk cashiers had any
8. Many businessmen are usually holding press conferences to
promote their activity.
7. Translate into Russian.
1. I like people who have a good sense of humor and don’t take
themselves too seriously.
2. The novel I have read recently is about a woman who fell madly
in love with her master.
3. My friend, who is a very pessimistic person, never believes in
the success of any new company headed by not a professional
4. The man with whom I made friends not long ago escaped
suddenly and was never seen anywhere.
5. There is a company, whose name is unknown to me, that sells
different computer facilities.
6. Computer programming is something about which I know much.
7. I found in the newspaper everything which would interest me.
8. The computers, which had been selling for the last two months,
proved to be unreliable.
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9. He said that the company didn’t make profit at all, which was
not true.
10. There was nobody left in the hall, which was strange and unusual.
8. Complete the sentences with a word or a phrase from the box
and your own ideas.
to whom
I bought the newspaper which had a lot of job vacancies.
I like meeting people who have traveled widely.
Most of my friends are people
I feel sorry for children
I never wear clothes
My best friend is someone
I avoid going to restaurants
Yesterday I had a job interview
9. Choose the correct phrasal verb in an appropriate form to
complete each sentence (coincide with; lead to/up; place on/in/with;
follow on; throw up/out of/ away on).
1. The students in this college are taking courses______________
a degree.
2. The government _____________ another tax _____________
3. If you don’t keep your accounts straight – serious debt could
4. Don’t _____________ you education by leaving now.
5. The opening ceremony ____________ the worst storm in this
6. I wish _____________ some money_____________ this bank.
7. The newspapers faithfully reported the events that ____________
the Minister’s dismissal.
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8. I have had my order _____________ this bookstore for 3 months,
but there is still no sign of the books.
9. The serious fire at the factory _____________ 2,000 men and
women ___________ work.
10. Why did you __________ your money__________ such a risky
way to get interest?
Read and translate the text using Essential Vocabulary and any
necessary dictionary.
Text 4A. Economic Growth
As a nation’s economy grows it is able to produce more goods and
services each year. The value of national output is measured by the
national income. Therefore, economic growth is usually termed as the
rate at which the national income of a country grows in real terms.
This means the rate of growth of national income, after allowance
has been made for inflation. Governments seek the fastest possible
economic growth without incurring undesirable side – effects such as
inflation. Increases in those factors which create injections into the
circular flow (export sales, investment and government expenditure)
increase the level of economic activity which, if sustained, leads
to economic growth. It follows from this that governments can
help promote economic growth by increasing their own expenditure
when appropriate. They can also do so by attempting to create an
environment where exports can flourish and businesses consider
investment worthwhile.
Such economic growth is a major objective of governments since
a rise in the standard of living of the country’s people should follow.
This is, however, only true if national income has risen even when
inflation has been allowed for, otherwise it means that the price of the
nations output has increased rather than quantity. It is also important that
the growth of the population has not exceeded the growth of national
income, otherwise the additional output will have been swallowed up
amongst the extra people. It is necessary for real national income per
head to rise to increase the general standard of living. And even under
these circumstances some groups in society (for example, pensioners)
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may not share in the increased prosperity because their incomes rise
less quickly than those of other groups, notably those in full – time
A growing economy means a developing economy: change is an
integral part of growth. Some firms will decline as their products
become obsolete or go out of fashion while others thrive as their
goods or services become popular and as they innovate new advanced
ideas. Opportunities are regularly thrown up as markets are created by
the additional spending power that is placed in hands of the public.
Talented and perceptive managers can take advantage of the chances
created -growth provides a frame work for success.
As with all opportunities, some businesses will benefit more than
offers the favourable economic environment. All products have a life
cycle, though the length of the cycle may vary. Firms with products at
the end of their cycle may benefit little from rising styles. In contrast,
new product which coincides with a strong period of economic growth
has a distinct advantage. It is this factor which partly explains the rapid
increase in popularity and sales of Compact Disc players in the late
1980s, Most businesses prefer periods of economic growth not only
because of buoyant sales but also because tax rates can fall. Since
governments have to support less unemployed at a time when tax
revenues are booming they can afford to cut rates. It also offers the
opportunities to improve the infrastructure of the economy by building
new roads, rail links, airports, etc. Both factors can encourage the
development of all businesses.
1. Answer the questions to the text.
1. What is measured bу the national income?
2. What is necessary for the growth of the national income?
3. What сап increase the level of economic activity?
4. Economic activity leads to economic growth, doesn’t it?
5. How саn government promote economic growth?
6. Is the growth of the population important for national economy?
7. What does the expression “standard of living” mean?
8. А growing economy means а developing economy, doesn’t it?
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9. Why do businesses prefer the period of economic growth?
10. What products have distinct advantages?
2. Match each word or word combination with its definition.
1) an injection
2) to promote
3) a spending power
4) to exceed
5. to become obsolete
6) to thrive
7) to create
8) to benefit from
9) to cut rates
10) to share in
a) to participate in, to deal with
b) to reduce interest rates
c) to be no longer in demand
d) to bring into existence
e) to grow in profitability or wealth
f) to get something to one’s advantage,
interest, profit
g) to be beyond a certain limit, to be
greater than
h) a purchasing power
i) to increase the demand
j) putting or forcing into
3. Complete the sentences, choosing the proper word. Translate
into Russian.
1. Economic growth is usually defined as the rate at (that, which,
what) the national income of a country grows in real terms.
2. Apart from three or four top management executives (who, that,
which) are employed full time, the board of Directors comprises
a number of outstanding businessmen – often board chairmen or
presidents from other diverse fields.
3. The rouble exchange rate (what, that, which) is periodically
established reflects the currency offer and demand balance.
4. Governments can help promote economic growth trying to create
an environment (that, where, what) exports can flourish and
businesses make considerable investments.
5. Nations have been long classified into groups (when, that, which)
indicate their economic strengths and weaknesses as well as their
stage of development.
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6. Economic growth is the government’s major objective the aim
of (that, what, which) is to rise the standard of living of the
country’s people.
7. In a time of the increased standard of living some groups in
society may not share in the increased prosperity (which, whose,
that) incomes rise less quickly than those of other groups.
Pensioners, students, unemployed, disable may comprise such
8. Much attention in international economic and political affairs
focuses on the welfare gap between the developed and developing
nations. Comparisons made among countries (when, what,
which) use such measures as population, per capita income
and wealth, labour costs, prices etc.
9. The scope of economics is indicated by the fact with (which,
what, that) it deals. The latter consists mainly of data on output,
income, employment, expenditure, interest rates, prices related
with the activities of production, consumption, transportation and
10. It is important (what, that, which) the growth of population has
not exceeded the growth of the national income.
4. Translate into Russian.
1. Some economists are concerned with the process to change.
2. Experience proves that it would be impossible to eliminate
inflation entirely.
3. The Federal Reserve may raise or lower the interest rate at which
it lends the fund, either by discouraging or encouraging bank
4. The producer recognizes that price declines as sales are expanded.
5. Inferior goods (товары низкого качества) are those goods and
services bought in smaller amounts as consumer incomes rise.
6. The theory assumes that for each retailer the purpose of trade is
to improve the retailer’s position.
7. One feature of market with few sellers is that prices are often
8. Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating
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and exchanging products and values with others.
9. Under pure competition, the producer is the price taker who may
sell at the going market price whatever has been produced.
10. DigiCash, which wanted to offer a secure way to make payments
on the internet and also designed smart cards, went bankrupt in
early 1990s.
11. Some of Europe’s unemployment is cyclical which means that it
could be cut by faster economic growth.
12. Free trade means that firms are no longer limited by the size of
their home country but can sell into bigger markets.
13. The days when raw materials were produced in one country and
turned into finished goods in another are long gone. For example,
the plastic is produced in America and cut to shape in China. The
toy is then assembled in Mexico and can be shipped to America
for distribution.
5. Choose the proper tense: follow the rule of Sequence of Tenses.
Describing the state-of-art of the national economy the General
Director of the firm said that in future some businesses (to benefit)
more than (to offer) under favourable economic conditions. But he
noticed that they (may benefit)little if sales (to be rising). Then he
mentioned that most businesses (to prefer) periods of economic growth
when tax rates (сап fall). Не added that the additional output (to be
swallowed up) if the growth of the population (to exceed)the growth
of national income.
6. Translate into English.
Управляющий спросил своего секретаря, что он делает в такой
поздний час в офисе. Секретарь ответила, что прислано много
важной корреспонденции и она решила ее проверить. Управляющий заметил, что он собрался уже уходить, но думает, что может
задержаться и убедиться в важности сообщений. Он напомнил, что
ему на следующей неделе нужно будет делать отчет о состоянии
дел на фирме. И попросил отложить для него нужный материал.
«Хотя, – добавил он, отчет, фактически, подготовлен».
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7. Translate into Russian.
Modeling Economic Growth
One very influential, and more specific, model of economic growth
was developed by economist Robert Solow in 1957. Technological
innovation allows capital and labour to be used in more effective
and valuable ways. The use of the Solow growth model served to
highlight some important factors in economic growth. For many years,
economists tended to treat growth as primarily a matter of encouraging
savings, investment, and the creation and dissemination of technology.
In more recent years, other economists have suggested that perhaps
this model has directed too much attention to savings and technology.
Some have argued that other factors such as good institutions that
support markets, innovations in the organization of work, or access to
global markets should be thought of as equally important in promoting
economic growth.
Read the text and give the most suitable heading for it.
Text 4B
There are a variety of ways in which the benefits of economic
growth may be enjoyed. By maintaining the same labour force working
the same number of hours, the community may enjoy the gains
from its increasing ability to produce in the form of higher levels
of consumption. Alternatively, since any given output can now be
produced with a small labour input, workers may decide to take part
of their improved living standards in terms of increased leisure. It
would also be possible to maintain consumption levels and reduce
the proportion of the population at work by extending the provisions
for full-time further education and/or reducing the age of retirement.
Economic growth, as pointed out earlier, also makes it possible to
devote more resources to the social services without having to cut
private consumption.
Nevertheless, in whatever form society chooses to take the further
benefits, economic growth imposes a sacrifice in terms of current living
standards. In a fully employed economy .a higher rate of investment
can only be carried out by allocating more resources to the production
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of capital goods, therefore, will be less than it might otherwise be. It
is true that a much greater annual output of consumer goods will be
forthcoming in the future, but it may be many years before there is any
net gain. Is it worth it?
Economic growth also gives rise to a variety of social costs. Rising
incomes make it possible for more people to own cars, but this could
lead to problems of pollution and traffic congestion. Huge modern steel
plants, chemical works, oil refineries, and generating stations may be
very efficient on the basis of purely commercial assessments, but they
could impose costs on society by destroying natural beauty and other
amenities. Modern methods of agriculture may greatly increase yields
per acre, but they could have damaging effect on wild life. On the
other hand we must remember that it is economic growth which makes
it possible to devote more resources to the search for safer and cleaner
methods of production.
Perhaps the most disturbing social costs are those associated
with a rapid pace of economic change. The technical progress which
makes machines and production methods obsolete also makes people
redundant. Labour will have to learn new skills, adopt new methods
of working and accept more frequent changes of occupation. While
programmes of retraining with adequate financial grants can deal with
the problem to extent, there still remains the social cost in terms of
the disruption of a career and the unpleasant breaks in the partners
of a person’s working life. The benefits of economic growth may not
be evenly spread; instead of everyone reducing his working week
by a small fraction, it is more likely that some individuals may find
themselves completely redundant.
Read the text and answer the questions.
1. What were the reasons of the biggest one-day decline in the
2. What has Congress been eager to force this year?
Text 4C. A Troubling Fall on Wall Street
The credit crunch, long blamed for the sluggish economy, is sharing
blame for a bad day on the stock market. Combined with a decline in
biotech stocks, fears about proposals to limit bank credit-card interest
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rates helped drive the Dow down 120 points last Friday, the biggest
one day decline since October 13, 1989. Even worse damage occurred
in the highflying over – the-counter market, which has been setting
new records. With credit – card rates hovering near record highs this
year, Congress has been eager to force lower rates. Wall Street read
the news differently. “It dawned on the market that a cap on interest
rates could cause less credit to be available to consumers, not more”,
observes bank-stock analyst James McDermott. “Congress is playing
with fire”. It could spread. Says investment analyst Paul Kronlokken:
“Until now, the high level of the market was the only thing that was
making people feel good about the economy.”
Read the text and answer the questions.
1. Why is a jobless benefits package very important?
2. What is “hidden unemployment”?
Text 4D. The Plight of the Hidden Unemployed
When, as expected, the President signs into law the new, longawaited jobless benefits package, he will extend unemployment
payments to the millions of people who have already exhausted their
benefits or will soon do so. But the law will not help the million
Americans who want to work but have given up looking for jobs
because they believe there are none to be had. Although the number
of these “hidden unemployed” has not yet hit the recession high of 1.8
million, it has jumped nearly 30 percent since last year, according to
government statistics. Add that to the “officially unemployed” – those
Americans who are still hunting for jobs – and the number of people
not working edges toward 10 million. That’s a particularly frightening
number to politics.
Essential Vocabulary to Text 4A
the value of national output
the national income
ценность национальной
продукции (выпуска)
национальный доход
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in real terms
an injection
to sustain
to promote
to attempt
the standard of living
to exceed
to swallow up
income per head
to share in something
the prosperity
a developing economy
to become obsolete
to go out of fashion
to thrive
to create
a spending power
a perceptive manager
a framework
to benefit from
buoyant sales
to cut rates
to improve
в реальных исчислениях
введение, вливание, впрыскивание
переносить, выдерживать,
продвигать, содействовать,
делать попытку, пробовать,
уровень жизни
доход на душу населения
разделять, участвовать,
иметь долю
процветание, успех
развивающаяся экономика
стать устаревшим, выйти из
выйти из моды
процветать, преуспевать
покупательная способность
проницательный менеджер
извлекать выгоду из чего либо, приносить прибыль
повышенные, оживленные
сокращать нормы, снижать
курс, снижать ставки
совершенствовать, повышаться в цене
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to lead to something/lead up to завершаться чем-либо, явится причиной чего – либо
to follow on/out
следовать, придерживаться
to throw up /out of/ away on
пренебрегать, терять (работу), тратить, выбрасывать
to place in/with/on
разместить, помещать, обложить (налогом)
to coincide with
Conditional Clauses
Phrasal verbs: provide against / for / with; be provided under;
demand from / of ; refer back to/ to.
1. Translate into Russian:
1. If the company raises labour efficiency, it becomes more
2. It won’t be easy to find a job abroad if you don’t speak the
language of the country well.
3. If the country invests more money in education, productivity and
living standards will be higher.
4. I wish I worked in the office.
5. Students would learn about the consumers’ behaviour if they
worked as managers after University.
6. You won’t be given a bonus if you don’t exceed your sales target
next quarter.
7. She wished she had taken up a position of a product manager for
the overseas company, as she’s got excellent qualifications.
8. If a manager doesn’t understand his staff well he’ll fail in gaining
the staff’s trust.
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9. If they hadn’t cancelled their purchase so late, the trade company
would have given them a refund.
10. It may be difficult to find a large variety of goods in the country if
the country introduces protective tariff (покровительственный
11. Would you get involved if you saw the two colleagues having an
12. The results of this research work will be recognized if they are
supported with statistical data.
13. If you deliver the goods by the end of the week we’ll pay all the
advertising costs.
14. If people do not realize how important it is to conserve energy,
there will be nothing left for future generations.
15. If the government’s policy is proper, employment will be higher.
16. I wish the Marketing Division wouldn’t interfere with the Human
Resources’ recruitment problems, it’s none of their business.
17. How would the staff react if our new sales person were promoted
to the Sales Executive Deputy?
18. What would happen to car manufactures if we all rode bicycles?
2. Complete the following sentences with the correct form of the
Verbs in brackets. Then rewrite each sentence beginning with
only if so that it has similar meaning to the given sentence.
I_________ (contact) my employees as soon I arrive.
I’ll contact my employees only if I arrive.
1. If we ________(break) into the Asian market, our turnover
__________(increase) greatly.
2. If the government__________(lower) interest rates, it_________
(make) bank borrowing easier.
3. If they ____________(agree) to our offer, we ____________(be
able) to sign the contract by the end of this month.
4. If the government ______________ (conduct) proper policies,
the country__________ (achieve) full employment and economic
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5. If you _________ (be offered) a better job abroad, you ________
(have ) to take training courses to learn the language of the
country and the local culture.
6. If our main competitor__________ (go bankrupt), we_________
(increase) our market share.
7. When the enterprise ___________ (work) more profitably,
it_______(compete) with other business units more successfully.
8. They ___________ (not/employ) you for the job if ___________
(not/have) enough experience and good qualifications.
9. The staff _________ (agree) to work seven days a week, if they
___________(be paid) double time for the weekend.
10. If a company ____________ (rely) on only one supplier for a
vital raw material (сырье), and if that supplier _________(suffer)
a total loss of production because of a fire, strike or some other
reason, the company ____________(face) huge losses, and even
more important, a permanent loss of market share.
11. Mr. Simons___________ (retire), if he _________(know) for
sure that the company doesn’t need him any longer.
12. Very often an employer sets a target for an employee: ‘ You
_______(earn) a holiday in France for your family if you
________(exceed) your quota (перевыполнишь план)
13. With credit cards you are not obliged to pay your bills in full
at the end of the month. An interest rate ____________(be
changed) on the rest of the amount if you _____________(not
pay) your bills in full.
3. Choose the right answer.
1. A firm which is just starting up is
a) going into business
b) in business
c) going out of business
2. A company which sells goods in large quantities is called
a) a wholesaler
b) a retailer
c) a wholesale distributor
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3. Two or more companies which sell or manufacture the same product
a) customers
b) retailers
c) competitors
4. A company which sells goods abroad is
a) an importer
b) an exporter
c) a rival
5. An area where there is a demand for certain goods is called a
a) business
b) market
c) importation
4. Complete the following sentences with your own ideas.
1. What will you do if you start a business?
2. The company would be more profitable if it were competitive.
3. If he had exceeded the sales target, he would have been given
a bonus.
1. The quality of goods produced by this plant will be changed and
improved as soon as
2. If the company doesn’t meet the consumers’ demands, its goods
If none money were spent on ecology
Would the company expand if
If you have sold at more expensive prices
If you control yourself while negotiating the contract
If you were asked to work overtime
If our new advertising campaign had interested a certain market
9. Would scientists expect some mineral resources to exhaust (истощиться)
10. If the consumer demand changes, the production of some goods
raises but the production of other goods
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11. The supplier would have paid all the transport costs
12. If a nation follows policies of restraints in trade which prevent
the growth of world economic well-being
13. 13. If our negotiating team focused on the principal issues during
the negotiation,
5. Choose the most suitable answer A, B or C.
Productivity will raise C they introduce the new method.
A. unless B. provided C. When
1. _______ Russia improves conditions of scientists’ work, there
will be great progress in science.
A. unless B. in case C. if
2. You can borrow money from a bank__________ you prove your
solvency (платежеспособность)
A. as soon as B. provided C. after
3. __________ the prices rise, the demand for these goods falls.
A. so long as B. after C. if
4. There are two types of various values of education. Each student
gets private benefits ________________ he or she learns new
skills which will allow them to get higher pay for the job.
A. in case B. provided C. when
5. I’ll join this company _____________ it provides training.
A. as soon as B. unless C. until
6. _________ the plant buys new equipment, they will teach their
workers to work with it.
A. unless B. provided C. only if
7. _____________ the factory produces more goods, it requires
more resources.
A. when B. after C. if
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6. Write these sentences, putting the verbs in brackets into the
Present Simple or Future Simple.
Model: Success will come (come) to the firm if they have (have) a
vision to follow consumer trends.
1. If people ________ (be) keen to build a career and work hard,
the company ____________ (deliver) training and experience to
help people reach their goals.
2. Customers may make inquiries about the product. As soon as
they ___________ (decide) to buy, they ___________(place) an
3. The merged companies ________(make) a profit provided they
________(be able) to create added value.
4. If one of the components in a purchase __________ (break), the
customer ___________(need) a spare part.
5. Marketing managers for CLOROX _________ (help) to promote
their product in case they produce ads (advertisements) to
demonstrate the product power.
6. You _________ (learn) a lot about market situations as long as
you_______(read) the annual report.
7. If the company _________ (package) the new product with
interesting recipes, it ________(promote) the product and its
brand name to consumers.
8. If the economists _________ (not use) the new method of
analysis, they ___________(not make) a correct forecast.
9. What _________ the company language ____ (be) provided it
is a merger between companies from different countries with
different languages?
10. You _________ (succeed) as a businessman providing that you
_________ (get) interested in finance and management.
11. Any questions over the value of business assets, tax and other
issues must ______(be resolved) before the sale. If something
_____ (be) wrong, the seller _______(lose) creditability and it
can decimate (уменьшить, понизить) the business’s value.
12. The bank ___________ (not lend) them money unless they
__________(ask) for it.
13. If you ______________ (start) a business of your own, your aim
______(be) to do well. To succeed you should be popular with
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your customers, with all the competitions among other companies
specializing in the same area, you should earn a lot of money
and reach all your goals.
If there are few firms in the industry, the change in the behaviour
of one firm ________(influence) other companies.
In contrast to nations with large territories, some nations
are small in area and large in population. They __________
(ensure) economic security only if they ___________(co-operate)
effectively with other countries.
If a company _______(plan) to access the market potential, it
____________(take part) in the Trade Fair where companies can
exhibit samples of their products and see what response they get
from prospective customers.
At present there are a lot of customers who manage their money
electronically through the Web. If you ______ (be) a customer,
your funds ________(move) automatically to meet the needs.
If costs _______ (be) higher than profit, the business _______(be)
unprofitable and the firm ______(go) bankrupt.
7. Translate the words and define the parts of speech they belong to:
1) globe, globalization, global, globally
2) establish, establishment, established, establishing
3) advertising, advertise, advertisement, advertiser
4) reduce, reduced, reduction, reducing
5) introduced, introducing, introduce, introduction
6) competitive, competitiveness, compete, competition, competitor
7) participator, participation, participate, participating
8) promotion, promote, promoter, promoting
9) Europe, European, euro
10) circulate, circulating, circulation
8. Complete the following sentences with the words in an appropriate form from Exercise 7.
1. The __________ in taxes usually stimulates production.
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2. Both small and large companies spend money on _____________
in newspapers or on TV in order to promote their goods and
3. ___________ may help people move from one country to another
easily in order to seek for better jobs.
4. In order to get more profits companies try to ____________
5. The _________ of the single currency has made transactions
between different foreign countries much easier and faster.
6. The members of the _________________ Union started to use
the ___________ as the single currency in ___________ in 2002.
7. Most countries of Central and Eastern Europe try to join the
European Union as _____________ in such a union can provide
certain benefits in trade.
8. Famous American companies such as Coca Cola and McDonalds
have already _______________ subsidiaries in Russia and
they can successfully _________ with domestic producers and
9. Complete the following sentences with if or in case. Prove your
Model: The on-line company will make profit if it has commission
for every transaction over the Internet. (The company probably is able
to make profitable transactions over the Internet. If so, it’ll become a
profit maker.)
I’ll take my sales report home in case I finish it to meet the tight
deadline. (I’ll probably have some free time to finish my report because
I have to meet the deadline)
1. The engineers will know how to use new equipment _______
they follow the instructions.
2. A firm may obtain a credit ___________ it provides some
guarantees to the bank.
3. The new product is very expensive _________ it is made of raw
materials of high quality.
4. A small nation needn’t produce all manufactured goods ________
it can import them at a lower price from other countries.
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5. ____________ a company’s financial health is good and its assets
are sufficient, it can create capital by issuing additional shares of
common stock (акционерный капитал)
6. According to H. Ford, _______________’you manufacture at the
very highest quality and sell at the very lowest price and give
the consumers the best all-round service, you will be meeting a
demand which is so large that it may be called universal’
7. A major disadvantage of the partnership is that each member is
liable (несет юридическую ответственность) for all the debts
of the partnership. ___________one partner takes a large amount
of money from the business and squanders (расточать, растратить) it, the others will pay the debt.
8. The company will succeed ______________ its policy is to think
about the future plans concerning the staff.
9. _________ the company sells its goods at the same place where
they are produced, it uses the home or domestic market.
10. Russia will join the World Trade Organization ________ all
the necessary adjustments (регулирование, корректировка) are
done by the government offices.
11. _________ a person applying for a job convince us he can bring
maturity, common sense, good communication skills for our
company, we’ll provide a supportive team working environment
and first class training and professional development.
12. ___________ the company establishes a subsidiary in this
country, its goods will become cheaper and more competitive.
13. A Marketing Manager must be alert (бдительный, настороже)
to new ways to appeal to economic needs. _______ the customers
really need to buy something, they will do it anyway.
14. Success comes to the firm _________________ they have a
vision to follow consumer trends.
15. The interest rate depends on the amount of money. ________
money is scarce (недостаточный, скудный), interest rate will
tend to rise because loan will be competing for funds. ________
plenty of money is available for loans, the rate will tend to move
10. Complete the sentences.
If I were you, I (apply) for the position of a sales manager
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I (may stay) in this company longer
I (can arrange) a negotiation much better
I (not make) so many mistakes in my annual report.
11. Answer the following questions and complete the sentences.
a) Where, would you go if you wanted:
• to take part in the visitor programme?
• to show the guests around the city?
• to participate in launching a new business?
• to improve your English?
• to borrow some money to buy a new car?
• to fill in application form for a job interview?
b) If Mr. Smirnov had not been so tough with his staff, . . .
If I received a position of a manager, . . .
If I had started a new line of business then, . . .
If I were the president of the company, . . .
Read and translate the text using Essential Vocabulary and any
necessary dictionary.
Text 5A. Business and Economic Policy
The Government has the duty to manage the economy so as to give
the highest possible standard of living to the country’s people- and this
includes providing a prosperous environment for its businesses.
There are two categories of the government activities which may
affect businesses in the short and long run. They are: Fiscal policy and
Monetary policy.
Technically, fiscal policy refers to a policy based upon taxation.
The current taxes can be split into two broad categories: direct taxes on
income and capital, such as income, corporation and inheritance taxes;
and indirect taxes on expenditures, such as VAT and excise duties.
Expenditure by the government can be classified. The main items
are expenditures by central government on items such as social services,
defence and the National Health Service. There is also substantial
expenditure to provide education,libraries and many other services.
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In general, a government’ s fiscal policy is the relationship between
the level of government expenditure and the amount raised in taxation
in any given fiscal year. If the government spends more than it raises
in taxation (known as a budget deficit) then, injections into the circular
flow will exceed withdrawals from it and the level of activity should
increase. This might lead to rising employment rates but also to the
danger of inflation and increases in imports. On the other hand, a surplus
of taxation will reduce the level of economic activity. This is termed a
budget surplus and might result in an increase in unemployment. The
balance between taxation and government expenditure is determined
annually as the annual budget is announced.
All governments have a fiscal policy even if they do not regard
it as a key policy in their management of the economy. This is true
because all governments spend money and raise taxes and, therefore,
some balance - or imbalance - must exist between the two.
We cannot predict the precise impact of fiscal policy on the
business environment by simply considering the relationship between
government spending and taxation revenue. The exact economic
consequences will depend upon the types of tax which are altered
and the state of the economy prior to the changes being implemented.
Monetary Policy centres on adjusting the amount of money in
circulation in the economy and the level of spending and economic
activity. This may involve the manipulation of the money supply,
interest rates or exchange rate.
A first difficulty here is to decide exactly what comprises money.
We should agree that it is notes and coins, and perhaps the money in
our current accounts at the bank, but should we include our savings and
deposit accounts? Part of the difficulty in assessing the effectiveness
of monetary policy is the doubt concerning what exactly is covered by
the term money.
It is the central bank that plays a major role in the implementation of
a nation’s monetary policy. In some countries (for example, Germany)
the central bank operates monetary policy independent of government
policy, the Bank of England implements monetary policy on behalf of
the government.
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Monetary policy has three main aspects:
• Controlling the supply of money.
• Controlling the rate of interest.
• Managing the exchange rate.
The aim of the authorities when controlling the money supply is
to limit the amount borrowed, and hence spent, by businesses and
individuals. It is hoped in this way to limit the level of overall demand
in the economy and thus to remove or reduce inflationary pressure.
Controlling the money supply also affects the sales revenue of
If Governments relax monetary policy by making money more
freely available to businesses and citizens, expenditure and output will
increase, depending upon the level of demand and the level of economic
activity will raise.
The overall impact of changing interest rates will depend upon the
size of the change as well as the initial level.
A one per cent rise in interest rates to 15 per cent may not have a
great impact if the rate of inflation is 20 per cent because the real value
of the debtor’s repayments is falling by one fifth annually, which more
than compensates for the high interest charges.
A variety of other policies exist to control all or some aspects of the
economy. Their popularity has fluctuated over the years as economic
understanding has progressed and new ideas have become fashionable.
1. Answer the questions to the text.
Why does the government have the duty to manage the economy?
Into what broad categories can the current taxes be split?
Give the definition to the term "fiscal policy" and explain it.
Why do all governments have a fiscal policy?
What role does Central bank play in different countries?
What are the aspects of monetary policy?
For what do governments spend money gathered by taxation?
What determines the balance between taxation and government
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9. Do you know the categories of government activities that affect
businesses? What are they ?
10. What is the aim of the authorities when controlling the money
2. Match each word or word combination with its definition:
1) a duty
2) a fiscal year
3) a fiscal policy
4) a direct tax
5) taxation
6) an inheritance tax
7) an indirect tax
8) a deposit account
9) savings
10) a supply
(a) a tax which has to be paid by the
taxpayer direct to the government.
(b) the act or process of taxing smb.
or smth.
(c) a tax that is not paid direct to
the government but is collected by
suppliers, stores etc.
(d) a tax charged on the value of
property transferred at death to an
e) a government tax on certain goods
and commodities.
(f) the government’s financial year.
(g) the plans made and followed by a
government in raising and spending
(h) sums of money not spent but put
aside for future use.
(i) the amount of an economic good
that will be offered for sale in the
(j) one in which money paid in or
deposited by a customer and earns
interest at the bank’s base rate.
3. Choose the correct phrasal verb in an appropriate form to
complete each sentence. Some phrasal verbs should be used twice
(provide against/ for/ under/ with; demand from/ of; refer back to/
to /.
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1. What can we do _________ a failure of the wheat crop?
2. Who is going _________ money _________ the additional
3. It was unwise in your speech _________ rising unemployment.
4. The new law doesn’t _________ land used for farming.
5. A public health centre in every city is _________ the health laws.
6. In requesting an answer, it is wise _________ the earlier letter
on the subject.
7. The firm _________ its workers _________ their uniforms but
they are expected to keep them regularly cleaned.
8. The CEO _________ obedience _________ his employees.
9. Hard work _________ students in this course.
10. Insurance helps_________ a sudden loss of income.
11. Many successful businessmen _________ their success ________
hard work.
4. Translate into Russian:
Using Profits.
Some corporations pay out most of their profits in the form of
dividends to their stockholders. Investors buy into these companies
if they want a high income on a regular basis. But some other
corporations, usually called “growth companies”, prefer to take most of
their profits and reinvest them in research and expansion. Persons who
own such stocks are content – to accept a smaller dividend or none
at all, if by rapid growth the shapes increase in price. These persons
prefer to take the risk of obtaining a “capital gain” or rise in value of
the stock, rather than be assured a steady dividend.
The typical corporation likes to keep a balance among these
methods of raising money for expansion, frequently plowing back
(вкладывать) about half of the earnings into the business and paying
out the other half as dividends. Unless some dividends are paid,
investors may lose interest in the company.
5. Translate into English:
Я уверен, что многие покупатели не задумываются, почему
они покупают то, что покупают. Если же спросить их об этом, то
некоторые скажут, что они ищут цены пониже. Другие ответят, что
готовы платить больше за удобство и качество. Для меня же важна
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надежность в использовании. Среди множества товаров, предлагаемых сегодня, покупатель должен быть особенно бдителен, так
как качество многих из них недопустимое. Кроме того, я выбираю
только те магазины, где отношение персонала к покупателю безупречное. К сожалению, магазинов с таким сервисом еще очень
мало, но у них больше преимуществ и неплохой доход.
6. Paraphrase so as to use conditionals:
The government should manage the economy, so as to give high
standard of living and provide a good business environment.
If the Government doesn’t manage the economy, the standard of
living won’t be high and business environment won’t be good.
1. The government should spend less than raise, otherwise injections
into the circular flow will exceed withdrawals.
2. The government should avoid the budget deficit, otherwise this
will lead to rising employment rates and the danger of inflation.
3. Monetary Policy should adjust the amount of money in circulation and the level of spending,otherwise the shady manipulation
of the money supply may take place.
4. When controlling the money supply, the authorities should limit
the amount of money borrowed by businesses and individuals,
otherwise they couldn’t limit the level of overall demand in the
economy or reduce inflationary pressure.
5. A new type of credit cards should be marked, otherwise they
couldn’t be clearly identified.
6. Government shouldn’t relax monetary policy by making money
more available to businesses and citizens, otherwise it won’t be
able to control cash flow.
Read the text and answer the questions.
1. What is Keynes’ background?
2. What contribution did he make in Economics and Economy?
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Text 5B
Keynes was born in Cambridge in 1883 where his father lectured at
the University in economics and logic. He attended a local preparatory
school and gained a scholarship to Eton where he gained a number of
prizes for his schoolwork.
Keynes impressed his teachers and peers with his ability and
cleverness and won a place at King’s College, Cambridge to read
mathematics. As a University student at Cambridge he led a full life.
He was President of the Union and President of the University Liberal
Club as well as a member of the Apostles, a select debating society.
He achieved a first class degree in mathematics.
In the two years after receiving his degree, Keynes entered the civil
service and began to study economics intently. He spent his time as a
civil servant working in the India Office but found the work routine and
tedious. In 1908 he returned to Cambridge as a lecturer in economics,
in due course he became a fellow at his old College of King’s and he
remained in this post for the remainder of his life.
Keynes became editor of the Economic Journal and in this he wrote
extensively on economics. During the First World War Keynes entered
government service as an economist for the first time. During the war
he rose rapidly through the Treasury and ended up overseeing the
management of the UK’s reserves of foreign exchange. He knew many
of the premier figures of the time and worked hard on behalf of his
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country, even though he held reservations about the slaughter that was
taking once on the battlefields.
Keynes opposed the policy by which the Allies forced the Germans
to pay huge reparations for war damages. He wrote pamphlets on these
reparations and on the economic consequences of the peace. In 1930
he published a lengthy work on money and was appointed as chairman
of a panel of economists set up to advise the government.
It was during this post-war period and through these writings that
Keynes began to shape his views which were eventually expressed in
his “General Theory of Employment, Interest and Money” in 1936.
This revolutionary text advocated a central role for the government
in the management of the economy. He argued for the government’s
management of the economy through controlling the level of spending
of individuals and the government itself. After the Second World War,
his ideas on economic management were adopted in most democratic
nations and heralded an unprecedented period of low unemployment
and economic prosperity.
Keynes’s public service continued throughout the Second World
War, though his health began to fail him after he suffered a severe heart
attack in 1937. Throughout the war Keynes acted as an advisor to the
Treasury and wrote on “How to pay for the war”. In 1942 he was given
a peerage and became Lord Keynes. His prime role during this conflict
was to negotiate with the Americans on financial matters. He arranged
for the Americans to make loans and was involved in establishing the
International Monetary Fund in 1944.
He died in 1946 as a result of another heart attack, but left a legacy
of a greater understanding of the economic system and how it could be
harnessed to the well-being of nations.
Read the text and answer the questions.
1. What are Milton Friedman’s academic achievements?
2. Why was M. Friedman very popular in the 1960s and 1970s?
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Text 5C
Milton Friedman was born in Brooklyn, New York, in July 1912
the son of Jewish immigrants. He immediately attracted attention as
a brilliant student and received a number of state scholarships. He
studied at a number of American universities, eventually being awarded
a doctorate by Columbia University. Since then Friedman and his
academic achievements have been honoured by a considerable number
of honoury degrees from universities worldwide.
In 1948 at an early age Friedman was appointed Professor of
Economics at the University of Chicago, a post he held until his
retirement in 1977 aged 65. Friedman soon began to attract attention for
his criticisms of all forms of government intervention in the economy.
This brought him into direct conflict with the ideas of Keynes and
his supporters, such as Friedman’s great rival John Kenneth Galbraith.
His free market views extended to criticizing many aspects of the
welfare state and even public education – from which he had so clearly
Friedman was at the height of his powers and popularity in the
1950s and 1970s when he was undisputed leader of the Chicago School
of Economics. This group of liberal economists advocated the extending
of free market economics and the reduction of the role of the state in
managing the economy. Friedman’s ideas had their origins in the work
of earlier economists, but he expressed his ideas with originality. Many
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of his views have attracted considerable controversy. For example,
he contends that government economic intervention in the form of
imposing minimum wages has an undesirable side effect, in that it
creates unemployment as firms hire less of the now more expensive
resource. This, Friedman argues, lessens the welfare of those whom the
government sought to protect.
Monetarism may not be Friedman’s most important contribution
to economic thought, but it is the idea with which, he is most closely
identified. Monetarist economists believe that the sole cause of inflation
is increases in the money supply.
Friedman is credited with saying that “inflation is always and
everywhere a monetary phenomenon”. Friedman’s leadership of the
Chicago School coincided with the rise of inflationary pressures
throughout the Western world alongside the apparent demise of
Keynesian economics.
Friedman explains the failure of monetarist policies in the UK and
US by arguing that the governments concerned did not wholeheartedly
adopt monetarist philosophies. They did not, he contends, singlemindedly adopt the growth of the money supply as their prime
economic target. Unlike Keynes, Friedman has survived to see the
overthrow of his ideas and their replacement by new schools of
economic thought. Nevertheless, his impact on economic thought has
been immense and his work was recognized by the award of the Nobel
Prize for Economics in 1976.
Read the text and answer the questions.
1. Describe the impact of Burton’s decision on the local economy
in the West End of London.
2. What actions could the government take to minimize the
impact of the job losses on the local economy?
Text 5D. Burton Group
Burton Group, the fashion retailer, sacked more than 1900 people
yesterday in an attempt to streamline its bureaucratic head office,
remove under-employed shop assistants, and bear down on its mammoth wages bill.
Burton is dismissing 933 buyers, merchandisers, personnel and
financial staff and others employed in central functions in five different
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locations in the West End of London. They represent 25 per cent of the
head office workforce. It is also axing about 1000 full-time shop-floor
jobs across all its fashion chains, which include Burton, Top Shop, Top
Man, Principles, Dorothy Perkins, Evans and Champion Sport.
Burton will inform shop assistants over the next six weeks. It
expects to create up to 3000 part-time jobs instead. Most of the
casualties will be offered part-time work.
The cost of the redundancies will be $10-$15 million, Burton said.
That cost will be paid back in the current year in savings on wages.
Paul Morris, the store analyst with Goldman Sachs, applauded
the streamlining, raising his profits forecast for 2006 from $62.5m
to $72.5m.’And it will wash its face in the current year.’
Essential Vocabulary to Text 5A
annual budget
to be covered by
to be determined
borrow v
budget deficit
to compensate for
current account
current tax
debtor’s repayment
demand v
to depend upon
deposit account
determine v
direct tax
duty n
economic activity
to fall by
fiscal policy
fiscal year
ежегодный бюджет
охватывать, быть охваченным ч.-л.
быть определенным
заимствовать, занимать (деньги)
дефицит бюджета
давать компенсацию за ч.-л.
текущий счет
текущий налог
выплата должника
зависеть от
депозитный счет
прямой налог
экономическая деятельность
снижать(ся) на
финансовая политика
бюджетный год
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high interest charges
indirect tax
inheritance tax
key policy
level of demand
to manage the economy
manipulation n
provide v
real value of smth
to refer to smth
высокие процентные ставки
косвенный налог
налог наследования
ключевая политика
уровень требования (спроса)
управлять экономикой
обеспечивать (предусматривать)
реальная ценность ч.-л.
относить, относится к ч.-л.,
ссылаться на
to relax monetary policy отпускать курс валюты
social services
социальное обеспечение
substantial adj
surplus of taxation
излишек налогообложения
(активное сальдо)
taxation n
the National Health
Национальная cлужба здравоService
withdrawal(s) n
The Gerund
Phrasal verbs: fall over oneself (to do smth), turn up, look forward
to, look for, look after, look around, fail in.
1. Translate into Russian paying attention to the use of gerunds.
1. Learning rules without examples is useless.
2. His aim is mastering new skills.
3. Discounting is the process of buying a security for less than its
face value.
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4. The CEO is looking forward to opening a new business in
5. Our competitors risk losing all their money.
6. The chief accountant kept on bothering me with her questions
7. Getting through to the right person isn’t always easy.
8. My idea of relaxation after hard work in a busy office is going
to a fitness centre.
9. Our business partners suggested setting up a new company.
10. We succeeded in making a very important presentation.
11. There was no chance of getting an answer from the authorities
before the end of the week.
12. On pressing the button, you will get your money back.
13. I heard of a new product having been launched last month.
14. By increasing the minimum deposit and reducing the period
allowed for repayment the government has a quick-acting method
of reducing the demand for consumer durables.
15. Most western countries have experienced a sharp slowing down
in the rate of population growth in recent years.
16. We knew nothing about his having been sent abroad.
17. Not getting a refund on faulty goods is what really annoys me.
18. We postponed our visit because of John’s being engaged in the
19. After developing its huge internal resources Russia created the
necessary conditions for increasing its GDP.
2. Use the gerund instead of the subordinate clauses.
1. I remember that I met these businessmen at the conference.
2. He suggested that we should start the project to computerize our
3. Their Marketing Department proposed that the work should be
4. I prefer that you solve the problem of outsourcing.
5. He is responsible that the equipment is delivered within a week.
6. He denied that I had informed him about the delay of the flight.
7. She acknowledged that she had made a mistake in our annual
8. We insisted that the work should be done properly.
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9. I prefer that we should discuss the problem of takeover right now.
10. They admitted that the goods had not been delivered within 48
3. Complete the following sentences using gerunds and prepositions
where necessary.
When I heard the end of the story, I couldn’t help . . .
The employee was excused . . .
Do you mind . . .
Fancy . . .
Our marketing strategy needs . . .
I can’t bear . . .
We enjoyed . . .
Never put off . . .
I don’t like the idea . . .
I am used . . .
I can’t help
It’s worth . . .
We are looking forward . . .
4. Complete the following sentences using gerunds with prepositions
as adverbial modifiers.
For example: Speak to me (before making this decision.)
_______________ we agreed to sign the contract.
You will improve your work
Speak to me
I’ll ring you up
_______________ she began to argue with me.
You should prepare all the documents
Don’t forget to switch off you computer
5. Translate into English.
1. Стоит рассмотреть этот вопрос.
2. Нет смысла жаловаться на плохое качество дешевых товаров.
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3. Мы не можем не предпринять еще одной попытки решить
эту проблему.
4. Им удалось объяснить причину их опоздания на деловую
5. Подумайте о том, как оценить результаты их работы.
6. Вы не возражайте против слияния наших компаний?
7. Я устала работать под давлением.
8. Не стоит тратить время на обсуждение этого вопроса.
9. Наш успех зависит от обеспечения этим оборудованием.
10. Им удалось получить все необходимые товары.
11. Мы с нетерпением ждали известий от наших деловых партнеров.
12. Прежде чем проводить рекламную кампанию, наш отдел провел исследования рынка.
13. Определив отношение потенциального покупателя к товару,
можно соответствующим образом изменить продвижение товара на рынок.
14. Тщательно проанализировав экономическую обстановку, менеджер компании принял решение.
Read and translate the text using Essential Vocabulary and any
necessary dictionary.
Text 6 A. The Competitive and Technical Environment
The Competitive and technical environment in which businesses
operate is an important part of the overall business environment.
In some ways firms shape their own competitive and technical
environment by creating and developing new ideas. In other ways they
have to react to changes in the environment as competitors introduce
new technology, change prices or alter their advertising strategy. In all
of these matters, change plays a central role.
Some businesses are more subject to change than others. A business
involved with the design and manufacture of computer equipment is
highly dynamic, whereas a business which is involved with insuring
people’s lives tends to be less dynamic. However, all businesses,
regardless of how dynamic they are, operate in a changing environment
and must contend with this.
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If the word “dynamic” implies change, then the most dynamic
of businesses is the new business which goes from “nothing” to
“something” very quickly. However, the start – up business is a special
case to change. All businesses have to look for new opportunities for
providing products or services in order to maintain growth, replace
obsolete or declining products, and keep existing customers happy by
offering a wider range of products.
New businesses obviously do not have existing customers, but they
have opportunities either to supply new customers with products or
services already available on the market, or to supply new products
to a new market. Often, potential customers are slightly suspicious of
purchasing products or services from a new supplier who does not
have a “track record”. Many new businesses avoid this problem by
arranging to supply well – known products, often with an agreement
from a major supplier. This can range from opening a corner shop
to retail well-known products to purchasing the rights to be the sole
supplier in defined locality, such as opening a Kentucky Fried Chicken’
take away’ in a major town. The latter is an example of franchise.
It is often thought that to be really successful in business it is
necessary to design and produce a product or service which has never
existed before. As a result of its novelty, customers will “fall over
themselves” in trying to buy it. Sometimes this does happen: the Rubik
Cube was a good example of a highly innovative product. This toy
had considerable success for a period until the novelty wore off and
competition from imitators reduced sales as quickly as they had arisen.
However, before the deluge of cheap imitations flooded the market, the
Hungarian designer, Professor Rubik, became a millionaire.
At the other end of the scale, the Sinclair C5 electric – propelled
bicycle was an unsuccessful attempt to change transportation habits.
Although inspired by Sir Clive Sinclair, a successful designer of low
cost computers, and designed by professionals, it failed to attract
customers in any significant numbers and a great deal of money was
lost. It is possible that these roles might have been reversed: the Rubik
Cube could have been the disaster and the C5 the success story!
Perhaps we all have a brilliant idea at some time in our lives. The
problem is that these ideas turn up when least expected and therefore
the timing is usually wrong. How many times have you heard people
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talk about a “failed” idea, that it was “ten years too early” or that
someone was born “before his time”.
Employees can be a good source of ideas for businesses, for final
products as well as ideas for improving production or administration
methods. Some employers offer cash incentives in an effort to attract
such new ideas. However, businesses are frequently criticized for
ignoring this valuable source of ideas.
The generation of new ideas can be achieved through brainstorming
sessions. This is where a group of people, usually with a chairperson,
concentrate on generating as many ideas as possible in response to
a simple question – for example, ‘How do we diversify our product
range into the catering industry?’ Some ideas, which may be extreme
and unsuitable, could well lead to very plausible ideas from other
members of the meeting. The ideas are all noted in sufficient detail
for future analysis. At the end of the brainstorming session, all the
ideas are considered and the best are selected to go forward to a more
detailed examination. A report on all the ideas generated is sent to
members of the meeting saying why they have been rejected, or stored,
or taken a step further. A single person is capable of generating many
ideas, though a group is perhaps one natural forum for developing
ideas. Asking individuals for suggestions should also be part of the
information gathering stage.
1. Answer the questions to the text.
1. How do firms shape their own competitive and technical
2. What kind of businesses are more subject to change?
3. Why do all businesses have to look for new opportunities?
4. What opportunities do new businesses have?
5. What does the term “franchise” mean?
6. Is it always true that to be really successful in business it is
necessary to design and produce a new product or service? Why?
7. Who is a good source of new ideas for business?
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8. How can generation of new ideas be achieved?
9. What is the agenda of brainstorming sessions?
2. Choose the correct phrasal verb in appropriate form to complete
each sentence (turn up, turn down, fall over oneself, look for, look
after, look forward, look around, fail in).
1. Sylvia ( ) to be nice to her colleagues.
2. The chairman ( ) trying to persuade the committee to share his
3. I ( ) a suitable hotel.
4. Our business partners are good at ( ) their own interests.
5. Every year our employees ( ) the incentive holidays coming.
6. Don’t worry, I am sure a job ( ) soon.
7. Pauline ( )offers from several different firms.
8. You have expressed a great deal of interest in the new factory;
would you like ( ).
3. Match each word to its definition.
1) competitor
2) advertising
3) range
4) retail
5) growth
6) purchase
7) alter
8) decline
a) to make smth better, to become better
b) an increase in size, amount, or degree.
c) telling people about a product or service
in order to persuade them to buy it
d) to decrease in quantity or importance.
e) to buy smth especially big or expensive
f) to change
g) a person, product, company, country
that is competing with another.
h) a set of similar products made by a
particular company or sold in a particular
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9) improve
10) franchise
i) to sell goods to the general public in
j) an arrangement in which a company
gives a business the right to sell its goods
or services in return for a fee or a share
of the profits.
4. Match the words given in the box to complete the sentences.
Competition, will provide, to maintain, environment, implies, has
declined, suspicious, to inspire, to improve
1. The marketing team will need ______________ communication
with the suppliers.
2. Her resignation will do little _______________ confidence in a
3. Colleagues became_______________ when he started acting
4. The number of people buying their own homes
5. It is sometimes hard _______________ the right balance between
your work and your home life.
6. The deal_______________ Rolls-Royce with work for the next
five years.
7. The increase in the inflation level _______________ that wages
are rising too fast.
8. In the new global business _______________ the exchange of
information is a key to success.
9. _______________ between the two cable companies has driven
down the price for program services.
5. Insert gerunds and prepositions where necessary. Translate the
1. Talented leaders are good (produce) creative ideas.
2. Our success depends (introduce) new technology.
3. Our employees are involved (create) great ideas.
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4. Potential customers are suspicious (purchase) products from a
new supplier.
5. Many new businesses avoid (sell) new, unknown products.
6. (produce) a product which has never existed before is very
7. (flood) the market with the Rubik Cube Professor Rubik became
a millionaire.
8. Everything depends (motivate) people.
9. (generate) new ideas can be achieved through brainstorming
10. (Ask) individuals for suggestion should be part (gather) information.
6. Translate into English.
1. Особыми преимуществами будут пользоваться компании,
разрабатывающие и представляющие новые выдающиеся
2. Улучшение качества продукции является обязательным условием успеха любого предприятия.
3. Работники могут быть хорошим источником инноваций, однако работодателей часто критикуют за то, что они игнорируют этот ценный источник идей.
4. Отдел исследований и разработок концентрируется на создании ассортимента продукции, которая будет пользоваться
покупательским спросом.
5. Перед тем, как поступить на работу на эту фирму, он занимал
должность менеджера в рекламном агентстве.
6. После реорганизации компании мы стали более конкурентноспособными и увеличили поставки товаров на зарубежные
7. Разрабатывая рекламную кампанию, необходимо определить
ее основную цель и вероятных потребителей.
8. Данную проблему можно решить путем привлечения опытных специалистов.
9. Предприятиям приходится искать новые возможности для
обеспечения покупателей товарами и услугами, предлагая им
более широкий ассортимент продукции.
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10. Понимание работником своих обязанностей зависит от качества управления в организации.
Read the text and answer the questions.
1. What is Sir Clive Sinclair famous for?
2. Why was his electric tricycle a commercial disaster?
3. What reputation does the UK have?
4. What is Sir Clive‘s ambition?
Text 6B. Sir Clive Sinclair
Sir Clive Sinclair was born at the start of the Second World War in
1940 and attended thirteen schools in Surrey and Berkshire. He left aged
seventeen having shown some real ability in mathematics and having
developed a keen interest in the then developing field of electronics.
Whilst at school he had designed a simple calculating machine and
a micro-radio. On leaving school, he joined Practical Wireless as a
journalist and a year later became its editor. He held the job for a
further two years before setting up his own company to produce the
first of his many inventions. These inventions then followed one after
the other: micro-radios, small amplifiers, small calculators, and then
his well-known computers, the ZX80, the ZX81, the Spectrum and the
Z88 laptop.
He was Chairman of Sinclair Radionics from 1962 to 1979 and,
since then, has been Chairman of Sinclair Research. He is perhaps
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best known for inventing and manufacturing the electrical tricycle, the
C5. This was a considerable technical achievement, but a commercial
disaster with few sales. This contrast reflects Sir Clive accurately:
undeniably brilliant at invention, less successful at developing these
ideas into commercial and profitable products. Some would argue that
it is true of the UK as a whole. The country has a high reputation for
research and invention, but other nations and their companies tend to
develop and market the ideas.
However, Sir Clive is not daunted! In 1992, he launched his batterypowered bicycle, the Zike. This weighs eleven pounds, is rechargeable
within an hour and has been introduced in the middle of a recession.
He is not satisfied with this. His ambition is to develop a successful
and practical all-purpose electric car. The tradition of the somewhat
unworldly, but highly talented, British inventor continues.
Read the text and answer the questions.
1. What idea did Ben have while watching his goldfish?
2. Do you think Ben’s idea has any merit? Give your reasons.
3. Would you lend any money to Ben to develop his idea further?
Text 6C. Goldfish Windows
Ben was watching his goldfish one day when he had an absolutely
brilliant idea for doing away with curtains! Basically, Ben was a bit lazy
in cleaning out the goldfish tank and the water was getting exceedingly
murky. So murky in fact that you could not actually see the other side
of the tank when you looked in from one side.
That’s when the idea hit him. The goldfish could ’retire’ by
withdrawing to the other side of the tank, where it was no longer
visible. Why not, he thought, have windows which contained a liquid,
probably heavily dyed water. The windows would comprise three panes
of glass. There would be a permanent airgap between the two outer
panes, just like conventional double-glazing, but the gap between the
two inside panes would be filled, or not, with the dyed liquid.
Instead of ’pulling curtains’, all you had to do would be to raise the
level of a tank of dyed liquid so that the gap between the two inside
panes became opaque. When you wanted to see through the window,
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you would just lower the external tank, and the window space would
empty. Ben was not sure at this stage how the lowering device would
Ben’s imagination started working at a furious pace. Would it not
be possible to use lots of different coloured liquids so that architects
could create a ’psychodelic’ effect on skyscrapers? Could the liquid
inside the window remove heat from the tropical sun and heat up
washing water? Could the coloured liquid be a really strong dye so that
if any burglar tried to break the glass he would be covered in a very
identifiable colour? Was there no limit to Ben’s imagination? Could he
become a millionaire overnight?
Read the text and answer the questions.
1. What idea did Dave Allen have?
2. How much money a year could be saved by British industry
and commerce if all employers adopted suggestion schemes?
3. What does a survey by Industrial Relations Services show?
Text 6D. The Suggestion of the year
Dave Allen had а good idea last year. Mr Allen, a works area
supervisor for Dexion the furniture maker, suggested that models be
produced to help architects experiment with furniture as they designed
offices. The UK Association of Suggestion Schemes and the Industrial
Society decided this was the suggestion of the year, and sent Mr Allen
to Florida for a holiday.
According to the UKASS, up to $lbn a year could be saved by
British industry and commerce if all employers adopted employee
suggestion schemes. Some of Britain’s largest organisations, in both
the public and private sectors, are committed to such schemes. Claimed
savings include $20m for the Department of Social Security, $7m for
British Rail and $5m for Rover.
However, British business has been much less keen to set up
schemes than its Japanese and American counterparts, and where they
do exist, they have less impact. A survey by Industrial Relations
Services shows that while the average British worker in a scheme
makes a suggestion once every five years, the average in Japan is a
staggering 24 suggestions a year.
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Essential Vocabulary to Text 6A
advertise v
advertisement ad
advertiser n
advertising n
alter v
объявление рекламного характера
available adj
to be subject to (change)
to be suspicious of
compete v
competition n
competitive adj
to contend with
deluge n
fail v
to fall over oneself
flood v
the former adj
franchise n
imply v
improve v
inspire v
the latter adj
maintain v
obsolete adj
operate v
range of products
retail v
shape v
supply v
to turn up
имеющийся в распоряжении
быть подверженным переменам
недоверчиво относиться
бороться, соперничать
лавина, поток
терпеть неудачу
стараться изо всех сил
первый из двух
особое право, привилегия
подразумевать, означать
улучшать, совершенствовать
вдохновлять, стимулировать
последний из двух
поддерживать, сохранять
действовать, работать
ассортимент продукции
продавать в розницу
снабжать, поставлять
возникать, появляться
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Аникин А.В. Англо-русский словарь по экономике и финансам.
СПб.: Экономическая школа, 1993.
Gadsby A. Longman Business English Dictionary. Harlow: Person
Education Limited, 2001.
Courtney R. Longman Dictionary of Phrasal Verbs. Harlow: Longman
Group Limited, 1998.
Hornby A.S. Oxford Advanced Learner’s Dictionary. Oxford
University Press, 2005.
Surridge M., Bushell T., Gunn P. The Business Environment. London:
Collins Educational Ltd, 1994.
Oбучение чтению на английском языке экономической литературы: Учеб.-метод. пособие / Л.А. Иванова, Т.И. Кузнецова, З.Р. Лазарева, Л.И. Можайко. Ч. 1. М.: Изд-во МГТУ им. Н.Э. Баумана, 2007.
Периодические издания
The Economist. London, 2005 – 2006.
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Table of Contents
Предисловие . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Unit 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exercises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Text 4A. Economic Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exercises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Text 4B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Text 4C. A Troubling Fall on Wall Street . . . . . . . . . . . . . . . . . . . . . . . . .
Text 4D. The Plight of the Hidden Unemployed . . . . . . . . . . . . . . . . . . .
Essential Vocabulary to Text 4A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Unit 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exercises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Text 5A. Business and Economic Policy . . . . . . . . . . . . . . . . . . . . . . . . . .
Exercises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Text 5B. John Maynard Keynes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Text 5C. Milton Friendman . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Text 5D. Burton Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Essential Vocabulary to Text 5A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Unit 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exercises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Text 6A. The Competitive and Technical Enviroment . . . . . . . . . . . . . .
Text 6B. Sir Clive Sinclair . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Text 6C. Goldfish Windows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Text 6D. Suggestion Boxes of the year . . . . . . . . . . . . . . . . . . . . . . . . . . .
Essential Vocabulary to Text 6A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Список литературы . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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