close

Вход

Забыли?

вход по аккаунту

?

176. Экономика англоязычных стран и России

код для вставкиСкачать
МИНИСТЕРСТВО ОБРАЗОВАНИЯ И НАУКИ РОССИЙСКОЙ ФЕДЕРАЦИИ
Федерального государственного бюджетного образовательного учреждения высшего
профессионального образования
«Воронежский государственный архитектурно-строительный университет»
Кафедра иностранных языков
ЭКОНОМИКА АНГЛОЯЗЫЧНЫХ СТРАН И РОССИИ
ENGLISH-SPEAKING COUNTRIES AND RUSSIA ECONOMIES
Методическая разработка
по развитию навыков чтения и устной речи
для студентов 2-го курса специальностей
«Экономика предприятия и организаций»,
«Менеджмент», «Бухгалтерский учет, анализ и аудит»
Воронеж 2013
УДК 802.0:7(07)
ББК 85.33:81.2Англ я 7
Составитель Л. В. Лукина
Экономика англоязычных стран и России [Текст]: метод. разработка
по развитию навыков чтения и устной речи для студ. 2-го курса спец.
Экономика. Менеджмент. Бухгалтерский учет / Воронежский ГАСУ; сост.:
Л.В.Лукина – Воронеж, 2013. – 41 с.
Состоит из вводной части, трех основных разделов («Экономика
основных англоязычных стран и России», «Экономический обзор развитых
стран», «Основные понятия и термины экономики и бизнеса»), а также
экономических текстов для самостоятельного чтения. Вводная часть –
лексические упражнения, способствующие более быстрому и полному
пониманию, следующих за вводной частью текстов, а также базовые
экономические термины. Основные разделы состоят из текстов и
разнообразных лексико-грамматических заданий, необходимых для обучения
ведению беседы по соответствующей тематике.
Печатается по решению научно-методического совета
Воронежского ГАСУ
УДК 802.0:792(07)
ББК 85.33:81.2 Англ я7
Рецензент – М.А. Стернина, зав. кафедрой английского языка
естественнонаучных факультетов ВГУ, профессор, доктор филологических
наук
ВВЕДЕНИЕ
Методическая разработка «Экономика англоязычных стран и России»
состоит из вводной части, трех основных разделов, а также экономических
текстов для самостоятельной работы. Вводная часть включает лексические
упражнения и задания, позволяющие развивать умения и навыки чтения,
перевода, разговорной речи, расширить словарный запас. Основные
разделы состоят из текстов и послетекстовых лексико-грамматических
заданий, способствующих развитию творческого подхода к изучению
английского языка.
Предназначена для
студентов, обучающихся
по специальности
«Экономика
предприятия
и
организаций»,
«Менеджмент»,
«Бухгалтерский учет, анализ и аудит», «Управление персоналом»,
«Государственное и муниципальное управление».
UNIT I
LANGUAGE WORK
1.
employ
be employed in
employees
workers, etc.
agriculture
industry, etc.
1. More than two-thirds of the population is employed in agriculture. 2.
Seven more workers were employed by the management. 3. Manufacturing
industries employed the great number of people. 4. Today the service
industries employ most of British workforce.
Translate sentences:
1. Большая часть населения страны занята в сельском хозяйстве.
2. Управляющий отказался принять нового служащего на работу.
Fill in the gaps with verbs employ or hire.
1. We had to . . . a sales manager. 2. The management refused to . . . him.
3. Thousands of workers were . . . at the plant. 4. It’ll be great fun to . . . a
boat.
5. The greater part of the population of the country is known to be . . . in
farming.
4
export – to export
import – to import
2.
1. Great Britain imports raw materials from other countries. 2. Britain’s
economy largely depends on imports. 3. France exports consumer goods to
most European countries. 4. Electronic equipment is one of the main
articles of British export.
5. Half of Britain’s exports are to countries in the European Union. 6.
Britain exports manufactured goods.
3.
used
to do smth.
to be smth.
1. We used to live in a small village but now we live in London. 2. The
building used to be a cinema. Now it’s a shop. 3. There used to be a castle
on that hill. 4. She used to have long hair. But she cut it some time ago. 5.
Great Britain is no longer the leading imperialist power it used to be. 6.
People used to believe that the earth is flat. 7. Before men invented money
they used to trade by exchanging goods. 8. Our firm used to have branches
in all European countries. 9. When he was young, he used to take a great
interest in politics.
Translate sentences:
1.
Великобритания
уже
больше
не
является
ведущей
империалистической державой, какой она когда-то была. 2. Индия
была когда-то колонией Великобритании. 3. Когда он был моложе, он
проявлял большой интерес к политике.
4.
one
two –
second
third
fourth
fifth, etc.
thirds
fourths
fifths, etc.
of smth.
of smth.
fourths
three –
of smth.
fifths, etc.
5
1. Three-fifths of the land area of the continental United States is farmland.
One fourth of it is harvested cropland, and a half is pasture land. 2. About
two-thirds of the Federal Government’s spending goes for military purposes
(USA). 3. One third of the US Senate is elected every two years. 4. About
three-fourths of all taxes collected in the USA go to the Federal
Government.
Translate sentences:
1. Около двух третей населения этой страны занято в сельском
хозяйстве. 2. Треть сената США переизбирается каждые два года.
5.
require
a lot of
very much
time
work
strength
attention
1. This kind of work will require great physical strength. 2. Studying a
foreign language requires a lot of time and regular work. 3. Custom requires
that everybody should stand up when the national anthem is being played.
Translate sentences:
1. Такая работа требует большого внимания. 2. Это требует много
времени.
3. Изучение иностранного языка требует большого терпения. 4.
Традиция требует, чтобы все поднимались со своих мест при звуках
государственного гимна.
Fill in the gaps with verbs require (with inanimate) or demand (with
animate).
1. He . . . that the work should be done in accordance with his instruction.
2. This kind of work . . . a lot of time. 3. Your assistance is . . . here. 4.
The workers . . . shorter hours. 5. It . . . some thinking. 6. Producing such
articles . . . skilled labour.
Fill in the gaps with words:
economy / economics
1. We are students of … .
2. Within a market …., businesses seek profits.
economical / economic
1. Our country’s … situation is getting better.
6
2. How could the most … use of our time be organized?
economical / economically
1. That engine is not the most … .
2. Many students can spend their time … .
economize / economist
1. John Keynes was the great English … .
2. Don’t … on things which will hardly save you any money.
UNIT II
ECONOMIC TERMS
(Economy, Banking and Business)
account, n – money in a bank that can be put in or drawn out; a written
statement of money received and spent
auction, n – public sale at which goods are sold to the people making the
highest bids or offers
bankrupt, n – smb. who is declared to be unable to pay his debts; go
bankrupt = become ruined
bargain, n – an agreement between two or more people about buying or
selling smth.
bargain, v – talk about prices trying to sell at a high price or buy at a low
price
barter, v – do business by exchanging goods without using money (to
barter coal for grain)
bond, n – a printed paper given by a government or a business company
saying that the money has been received and will be paid back with interest
broker, n – one who buys and sells for other people (esp. shares or bonds)
cash, n – money in the form of coins or notes (I have no cash on me. May
I pay by cheque?)
cash, v – get or give money in exchange for cheques
cheque (Am. check) – a written order to a bank to pay money
cheque-book – a number of cheques fastened together in a book
currency, n – money used as a means of buying and selling (coins,
cheques, bank-notes)
hard currency – a money system characterised by stability. It can be
exchanged for gold.
deposit, n – money paid into a bank to receive interest later on
deposit money – put money in a bank
deal, n – a business agreement. It's a deal. (I agree to do business with you.)
deal with smb. – do business with smb.
7
dealer, n – a person who buys or sells things
income, n – the money that comes from salary, business profits, interest on
capital, dividends on investments
insurance, n – the money for which a person or a thing is insured; the act of
insuring
insure, v – make arrangements with an insurance company for the
payment of a sum of money in case accident, damage, etc. (He insured his
house for $ 80000.)
interest, n – money charged for the use of money (to pay 6% interest on a
loan; to live on the interest received from the capital)
invest money in smth. – to use money in such a way as to get a profit
or income from it (to invest one's money in shares, a business enterprise,
etc.)
investor, n – one who invests money
joint enterprise (venture) – an enterprise shared by several companies
loan, n – money lent to smb. (A government loan is a loan lent to the
government.)
market, n – a public place where goods are bought or sold; the volume of
sales. (The market for these goods has risen/ fallen.)
marketable, a – smth. that can be sold (marketable products)
nationalise, v – transfer from private to state ownership (denationalize
-transfer from state to private ownership)
property, n – smth. belonging to a person, a group of people or a state
private property – smth. belonging to a person or small group of people
rate of exchange – a fixed proportion between two currencies
retail, n – the sale of goods in small quantities, for use
sale, n – the exchange of goods for money, the act of selling (Is this house
for sale?); the offer of goods for sale at a low price
share, n – one of the equal parts into which the capital of a business
company is divided (He holds 500 shares in a shipbuilding company.)
stock exchange, n – a place where stocks and shares are bought and sold
tax, n – a sum of money which must be paid to the state (income tax, sales
tax, luxury tax, etc.)
UNIT III
BASIC ENGLISH-SPEAKING COUNTRIES ECONOMIES
The United Kingdom of Great Britain and Northern Ireland, the United
States of America, Canada, Australia, and New Zealand are referred to as
English-speaking countries. Market economy, i.e. based on free enterprise,
8
generally characterized by private ownership and initiative, with a relative
absence of government involvement is characteristic for them. However,
government intervention has been found necessary from time to time to
ensure that economic opportunities are fair and accessible to the people, to
dampen inflation and to stimulate growth. Such economies are generally
described as mixed, which is to say that even though the great majority of
productive resources are privately owned, the federal government plays an
important role in the market place.
Every economic system tries to anticipate and then meet human needs
and wants through the production and distribution of goods and services.
The economic system is the mechanism that brings together natural
resources, the labour supply, technology, and the necessary entrepreneurial
and management talents.
1.
2.
3.
4.
What countries are referred to as English-speaking countries?
Are those developed or developing countries?
What is characteristic for a free market economy?
What are the major ingredients of an economic system?
Text 1
BRITISH ECONOMY
The United Kingdom of Great Britain and Northern Ireland lives by
manufacture and trade. For every person employed in agriculture eleven
people are employed in mining, manufacturing and building. The UK is one
of the world’s largest exporters of manufactured goods per head of
population.
Apart from coal and iron ore Britain has very few natural resources and
mostly depends on imports. Most of the raw materials for its industries such
as oil and various metals (copper, zinc, uranium ore and others) have to be
imported. Britain also has to import timber, cotton, fruit and farm products.
Britain used to be richly forested, but most of the forests were cut down to
take more room for cultivation.
Three-quarters of the United Kingdom’s land is dedicated to
agriculture. Among the most important crops grown on the farms are wheat,
barley, oats and potatoes. Sheep, cattle and pigs are the most numerous
types of livestock. The fields are mainly in the eastern part of the country.
Most of the farms are small (one third of them is less than one hundred
acres). Farms tend to be bigger where the soil is less fertile. Britain has one
of the most efficient agricultural industries in Europe and produces 60% of
its food. Only about 2 percent of the workforces are employed in farming,
but the yields of English farms and pastures are very high.
9
In the past English industrial prosperity rested on a few important
products, such as textiles, coal and heavy machinery. Now the UK has a
great variety of industries, for example heavy and light industry, chemical,
aircraft, electrical, automobile and many other industries. Today high
technology industries are more developed than heavy engineering.
In the 19th century Britain secured a leading position in the world as
manufacturer, merchant and banker. After World War 1 the world demand
for the products of Britain’s traditional industries – textiles, coal and
machinery – fell off, and Britain began expanding trade in new engineering
products and electrical goods.
The crisis of 1929 – 1933 brought about mass unemployment, which
reached its peak in 1932. Britain’s share in the world industrial output
decreased. After the crisis production and employment increased following
some revival in world trade and as the result of the extensive armament
programme.
During World War 2 Britain’s economy was fully employed in the war
effort. Massed raids of German planes on British industrial centers caused
considerable damage to Britain’s industry. World War 2 brought about a
further weakening of Britain’s might. Great Britain is no longer the leading
imperialist power it used to be. It has lost its colonies which used to supply
it with cheap raw materials.
Britain produces high quality expensive goods, which has always been
characteristic of its industry. A shortage of raw materials, as well as the
high cost of production makes it unprofitable for British industry to produce
semi-finished goods or cheap articles. Britain mostly produces articles
requiring skilled labour, such as precision instruments, electronic
equipment, chemicals and high quality consumer goods. Britain produces
and exports cotton and woolen goods, leather goods, and articles made of
various kinds of synthetic (man-made) materials. Britain is the fifth largest
trading nation in the world.
The original basis of British industry was coalmining and the
early factories grew up not far from the main mining areas. Glasgow and
Newcastle became great centers of engineering and shipbuilding.
Lancashire produced cotton goods and Yorkshire woolen, with Sheffield
concentrating on iron and steel.
Birmingham developed light
engineering. There appeared a tendency for industry and population to
move to the south, particularly to London area.
Britain's industry is now widely dispersed. Great progress was
made in the development of new industries, such as the aircraft,
automobile, electronic industries and others. A number of atomic
10
power reactors were made. Great emphasis was made on the development
of the war industry.
In the 18-19th centuries the greatest number of people was employed
in manufacturing industries. Today the service industries like banking,
insurance, advertising, computer software, tourism and retailing employ
most of the British workforce. These are also the fastest growing
industries.
Words and phrases that will help you to understand the text:
to be employed in agriculture (industry, etc.) – быть занятым в
сельском хозяйстве (промышленности и т.п.)
to employ smb. – нанимать кого-либо
mining – горно-добывающая промышленность
manufacturing – обрабатывающая промышленность
manufactured goods – промышленные товары
consumer goods – товары широкого потребления
per head of population – на душу населения
apart from smth. – помимо, кроме чего - либо
raw materials – сырьё
an industry – отрасль промышленности
timber – древесина
cotton – хлопок, хлопчатобумажная ткань
to make room for smth. – освобождать место (пространство) для
cattle – крупный рогатый скот
sheep – овца, овцы
to breed (bred, bred) – разводить (животных)
crop – сельскохозяйственная культура
wheat – пшеница
barley – ячмень
oats – овес
to tend to do smth. – иметь тенденцию делать что-то
soil – почва, земля
fertile – плодородный
a merchant – торговец
demand for smth. – спрос на что-либо
textiles – изделия текстильной промышленности
machinery – машины, машинное оборудование
to expand trade (in smth.) – расширять торговлю (чем - либо)
engineering – машиностроение , машиностроительная промышленность
electrical – электрический
to bring about smth. – приводить к чему-либо, вызывать что-лтбо
unemployment – безработица
to reach smth. – достигать чего-либо
11
share – доля
industrial output – выпуск промышленной продукции
to decrease – уменьшаться, уменьшать
revival – возрождение, оживление, возобновление
an article – изделие, товар, предмет производства
to require smth. (doing smth.) – требовать чего-либо, нуждаться
skilled labour – квалифицированный труд
precision instruments – точные инструменты
chemicals – изделия химической промышленности
wool – шерсть
woolen – шерстяной
leather – кожа (выделанная)
steel - сталь
to disperse - рассредоточивать
to make progress – делать успехи
aircraft industry – авиационная промышленность
atomic power – атомная энергия
to make emphasis on smth. – делать упор на что -либо, придавать
особое значение чему-либо
war industry – военная промышленность
Tasks after the text:
1. Complete the sentence by choosing the phrase.
1. Great Britain is rich in... (oil; gold; copper; silver; iron ore; zinc; coal).
2. Great Britain has to import ... (coal; agricultural products; electrical
goods;
chemicals; electronic equipment; oil; various metals; food products;
cotton;
timber; tobacco; wheat; fruit).
3. When the world demand for the products of Britain's main industries –
textiles, coal and machinery - decreased, it began seeking compensation
in
new engineering products, such as ... (cars; atomic power reactors;
electrical goods; electronic equipment).
4. It is characteristic of Britain's industry to produce ... (semi-finished
goods;
cheap articles; raw materials; high quality expensive goods; articles
requiring skilled labour; precision instruments; electronic equipment).
5. The main products of Britain's industry are ... (precision instruments;
high
quality consumer goods; electronic equipment; chemicals; textiles; readymade clothing; manufactured goods; petrol).
6. A great number of new industries were added to the traditional ones such
12
as … (the aircraft industry; the textile industry; the electronic industry,
the
shipbuilding industry, the automobile industry; mining; engineering).
7. The main crops grown in Britain are ... (flax, cotton, oats; wheat; barley;
tobacco).
8. In Britain they breed … (cattle that is cows and oxen; horses; sheep;
pigs;
goats; rabbits).
2. Answer the questions using the text.
1. What natural resources does the United Kingdom have?
2. What raw materials does Britain import?
3. What does Britain export?
4. What did the crisis of 1929 -1933 bring about?
5. What is the characteristic feature of Britain's industry?
6. Why is it unprofitable for the UK to produce semi-finished goods or
cheap
articles?
7. What are the main articles produced by British industry?
8. What are the main industrial centers of Britain?
9. What are Britain's main industries?
10. What can you say about Britain's agriculture?
3. Finish the questions and answer them.
1. Does Britain live by agriculture or...?
2. Does Great Britain export raw materials or…?
5. Did the world demand for the products of Britain's main industries after
World War 1 increase or...?
4. Did Britain's share in the world industrial output increase as a result of
the
crisis of 1929-1933 or...?
5. Does Britain's industry produce high quality goods or...?
6. Is Britain's industry located in one area or...?
7. Is Britain still a mighty colonial power it used to be or...?
4. Finish the sentences.
l. Britain is rich in ... 2. Britain has to import …3. When the world demand
for the products of Britain's main industries decreased it began seeking
compensation in ... 4. The characteristic feature of Britain's industry is the
production of… 5. The main products of Britain's industry are... 6. Britain's
industry is widely dispersed, but it is still possible to point out the following
concentrations of industry... . 7. A great number of new branches were
added to the traditional industries such as… .
13
5. Correct false sentences.
1. Britain is an agricultural country. 2. Britain is rich in natural resources,
such as oil, copper, zinc and others. 3. Britain exports raw materials to other
countries.
4. After World War I the world demand for the products of Britain's main
industries - textiles, coal and machinery - increased greatly. 5. As a result of
the crisis of 1929-1933 Britain's share in the world industrial output became
greater. 6. The crisis of 1929-1933 brought about the mass unemployment.
7. Very few people are employed in the mining and manufacturing
industries in Britain. 8. Britain's industry produces mostly very cheap low
quality goods. 9. A shortage of raw materials makes it profitable for Britain
to produce semi-finished goods and cheap articles. 10. No emphasis is made
on the development of the war industry.
11. Britain's industry is concentrated in one area. 12. All Britain's industries
and services have been nationalized.
6. Translate the text.
Экономика Великобритании
Соединенное Королевство Великобритании и Северной Ирландии
– крупная капиталистическая страна с рыночной экономикой. Она
имеет высокоразвитую промышленность. Большая часть ее
населения занята в промышленности, торговле и секторе услуг и
только около 2% населения – занимается сельским хозяйством.
В Великобритании немного полезных ископаемых. Она богата
лишь углем и железной рудой, поэтому ей приходится ввозить сырье
из других стран. Недостаток сырья и высокая стоимость
производства делает невыгодным для промышленности Британии
производство полуфабрикатов и дешевых товаров. Характерной
чертой британской промышленности является производство дорогих
товаров высокого качества, требующих квалифицированного труда.
Традиционными
отраслями
британской
промышленности
являются машиностроение, текстильная, судостроительная и
угольная промышленность. Однако после первой мировой войны
спрос на продукцию традиционных отраслей промышленности
сократился, и Великобритания начала развивать новые отрасли
промышленности,
такие
как
химическая,
авиационная,
автомобильная и др.
14
Великобритания
больше
не
является
ведущей
империалистической державой, какой она когда-то была. Она
потеряла свои колонии, которые снабжали ее дешевым сырьем.
Соединенное Королевство является одним из ведущих
экспортеров промышленных товаров на душу населения. Британия
является пятым крупнейшим торговым партнером. Промышленность
Британии широко рассредоточена. Большой успех был сделан в
развитии новых отраслей промышленности, таких как авиационная,
автомобильная, электронная отрасли и другие. Сегодня большая
часть трудовых ресурсов Британии занята в сфере услуг. Большая
часть отраслей промышленности и сферы услуг в Британии
находятся в частной собственности.
7. Used the following words in your story about the UK economy.
1. be rich (poor) in smth.
2. be employed in industry (agriculture)
3. import smth. from …
4. export smth. to …
5. make great progress
6. demand for smth.
7. used to do smth.
8. characteristic of smth.
9. make it (up) profitable for smb. to do smth.
Text 2
US ECONOMY
The United States of America is rich in natural resources, the main
being iron ore, coal and oil. The nation produces more than 100 million tons
of iron a year. Four fifths of the ore mined in the USA comes from the Great
Lakes region. Though a great deal of the ore has been used up, its resources
have not been exhausted. Most of the coal mined in the USA is used by
power plants to produce electricity. Coal is also used in the chemical
industries for the manufacture of plastics and other synthetics. The
production, processing and marketing of such oil products as petrol (called
"gasoline" or "gas" in the USA) make up one of America's largest
industries.
The basic metals and minerals mined in the United States are zinc, copper
and silver.
Some of the main crops grown in the USA are wheat, maize, cotton,
tobacco and fruit. Cattle and pig-breeding make up an important branch of
15
America's agriculture. To make the farmer's work more productive
scientific methods of farming are employed and modern technique of
freezing, canning and packaging farm products is used.
The United States is a highly developed industrialized country with
various branches of heavy industry prevailing, namely, the mining,
metallurgical, automobile, shipbuilding, electronics, space research and
chemical industries as well as engineering. Many branches of light industry
are also developed; among them are the textile, food and wood-working
industries.
A great deal of attention in American industry is devoted to research
and emphasis is made on the use of labour-saving machines. In the past few
years the number of workers has increased only a few per cent, while the
number of scientists and engineers at the plants has almost doubled.
Mechanization and automation do away with thousands of office jobs,
intensify production and increase labour productivity. But they also bring
about a further growth of unemployment.
New industries are created as new discoveries are made in physics,
chemistry and other sciences. Atomic energy, for example, has created a
wide range of new industries. Electronics has become a major industry.
Throughout American industry great emphasis is being made on
management training. A great number of schools are training young people
to become industrial leaders.
American industry is distributed unevenly. Most of the industrial
enterprises are located in the eastern part of the country. But industry is
spreading out as there is a tendency to build factories far removed from the
home plant and closer to natural resources and markets. Good transportation
facilities and rapid communication systems make it possible for the main
plants to keep in touch with branch factories.
Each region of the United States has characteristics of its own due to
the differences in climate, landscape and geographical position. Illinois,
Iowa, Nebraska is the richest farming region of America and it is known as
the Corn Belt. California is a fruit raising area. New Orleans is a cotton
industry center, Los Angeles, a shipping commercial center, Detroit, a
world’s leading motor car producer.
The leading US exports are industrial machinery, electronic equipment,
textiles, grain, iron, coal, oil products and chemicals.
Words and phrases that will help you to understand the text:
to mine coal (ore, etc.) – добывать уголь (руду и т.п.)
to exhaust smth. – истощать (исчерпывать) что-либо
a power plant – электростанция
chemical – химический
16
to process smth. – обрабатывать что-либо
plastics – пластмассы
silver – серебро
maize – кукуруза
a branch – отрасль
to employ smth. – использовать (применять) что-либо
technique – методы, приемы
to can – консервировать
to package – упаковывать, паковать
a heavy industry – тяжелая промышленность
a light industry – легкая промышленность
textile – текстильный
research – научно-исследовательская работа, научные исследования
a labour-saving machine – машина, экономящая труд
in the past few years – за последние несколько лет
a scientist – ученый
a plant – завод
to do away with smth. – покончить с чем-либо, ликвидировать что-либо
labour productivity – производительность труда
to make a discovery – делать открытие
physics – физика
chemistry – химия
to distribute smth. – распределять что-либо
unevenly – неравномерно
an enterprise – предприятие
grain - зерно
Tasks after the text:
1. Complete the sentence by choosing the phrase.
1. The United States of America is rich in natural resources such as …
(copper; uranium ore; oil; zinc; silver; gold; iron ore; nickel; platinum).
2. The USA is a highly industrialized country, with various branches of
heavy
industry prevailing, namely … (mining; engineering; shipbuilding;
the automobile industry, the metallurgical industry; the textile industry;
the wood-working industry; the war industry).
3. A great deal of attention in American industry is devoted to ... (increasing
labour productivity; improving the working conditions; the use of laboursaving machines; management training).
4. Mechanization and automation lead to … (unemployment; increasing
labour productivity; increasing the profits of big monopolies; increasing
the cost of living).
5. American industry is spreading out as there is a tendency to … (build
17
factories and plants in big industrial centers; build factories and plants
closer to markets and natural resources; devote more attention to
management training).
6. Good transportation facilities and rapid communication systems make it
possible for America's industry to ... (introduce automation; build branch
factories far removed from the home plants).
7. America's leading exports are ... (electrical machinery; gold; uranium
ore;
grain; oil products; textiles; ships; chemicals; iron; coal; copper).
2. Answer the questions using the text.
1. What are the main natural resources of the USA?
2. How is the coal mined in the USA mainly used?
3. What are America's main industries?
4. Where are most of the industrial enterprises located?
5. What are the leading exports of the USA?
6. What can you say about America's agriculture?
3. Finish the questions and answer them.
1. Is the USA an agricultural country or...?
2. Have the natural resources of the USA been exhausted or are they still...?
5. Are most of the industrial enterprises located in the eastern part of the
country or…?
4. Does the USA import industrial and electrical machinery or does it...?
4. Finish the sentences.
1. The United States of America is rich in natural resources, such as...
2. The USA is a highly industrialized country with various branches of
heavy
industry prevailing, namely...
3. A great deal of attention in American industry is devoted to …
4. The American industry is spreading out as there is a tendency to …
5. Good transportation facilities and rapid communication systems....
6. The leading exports are...
7. The main crops grown in the USA are...
8. In the USA they breed...
5. Correct false sentences.
1. The USA has very few natural resources. 2. Four-fifths of the iron
ore comes from California. 3. Most of the coal mined in the USA is used by
power plants to produce electricity. 4. The resources of iron ore and coal in
the USA have been completely exhausted. 5. The USA has no heavy
industry. 6. Automation helps to do away with unemployment in the USA.
18
7. Most of the industrial enterprises are located in the western part of the
country. 8. The USA trades only with Canada. 9. The leading exports of the
USA are fruit and vegetables. 10. Big monopolies make huge profits on
producing armaments.
6. Translate the text.
Экономика США
Соединенные Штаты Америки – развитая страна с рыночной
экономикой. Большая часть ее отраслей промышленности и сферы
услуг находятся в частной собственности.
США богаты полезными ископаемыми. Основными полезными
ископаемыми являются железная руда, уголь и нефть. США имеют
высокоразвитую промышленность с различными отраслями тяжелой и
легкой промышленности. Основные отрасли ее тяжелой
промышленности – металлургическая, автомобильная, химическая и
военная. Многие отрасли легкой промышленности, такие, например,
как деревообрабатывающая, текстильная и пищевая, также высоко
развиты.
Большое внимание в США уделяется научно-исследовательской
работе и использованию машин, экономящих труд. Механизация и
автоматизация делают возможным ликвидировать многие виды
канцелярской работы, ускорить производство и повысить
производительность труда. Но они ведут к дальнейшему росту
безработицы. За последние годы число ученых и инженеров почти
удвоилось, а число рабочих возросло только на несколько процентов.
Большое внимание уделяется также подготовке руководящих кадров.
Американская промышленность распределена неравномерно.
Большая часть промышленных предприятий сосредоточена в
восточной части страны. Однако имеется тенденция строить заводы и
фабрики вдали от крупных промышленных центров, ближе к
источникам сырья и рынкам. Новые отрасли промышленности
создаются по мере того, как делаются открытия в физике, химии и
других науках.
США ведут торговлю со многими странами. Ведущими статьями
экспорта являются электронное оборудование, изделия химической
промышленности, текстиль, железо, уголь, зерно и другие товары.
Одной из ведущих отраслей американской промышленности
является военная промышленность. Крупные монополии извлекают
огромную прибыль из производства вооружения.
19
7. Used the following words in your story about the US economy.
1. the main branches of heavy (light) industry
2. in the past few years
3. make discoveries
4. be distributed unevenly
5. there is a tendency
6. make great emphasis on smth.
7. make it possible for smb. to do smth.
8. the leading exports
Text 3
RUSSIAN ECONOMY
The economy of Russia is the eighth largest economy in the world by
nominal value. Despite Russia being a developing country it has one of the
highest GDP per capita among the developing World.
The Russian Federation is one of the world's richest countries in terms
of mineral resources. The country has an abundance of natural resources,
including timber, precious metals, and fuels. Currently it extracts 17% of
the world's oil, 30% of the natural gas, 6% of the coal, 14% of iron ore and
20% of rare and precious metals. The reserves are largely concentrated in
Siberia and the Urals.
Russia is a big industrial country. Its producing enterprises are in
several industrial regions. But in recent years enterprises have suffered a
serious deficiency of finance, they do not have the necessary funds. The
companies also suffer severe shortages of working capital. They need the
technical re-equipping and development.
Economic policy should continue to encourage the growth of new
enterprises, and the restructing of those inherited enterprises which find a
market to survive.
Since the collapse of the Soviet Union, Russia has undergone
significant changes, moving from a centrally planned economy to a
market globally integrated economy. Russia has tried to develop a market
economy and achieve consistent economic growth.
The difficulties result from the period of economic transition to a
market economy. Economic reforms in the 1990s privatized many sectors
of industry and agriculture. Now Russia has a mostly privatized economy.
It has brought inflation down and it has a stock market. The country needs
to narrow a huge budget deficit by government spending and improving tax
20
collection and to force an underground economy into the sunlight. But it is
easier said than done.
Russia moves forwards integration into the international financial
markets. The government is making effort to increase foreign investment.
There are thousands of joint ventures and firms with foreign capital in
Russia. Most growth comes from the service sector and trade.
The economic reforms carried out may lay the foundations for
economic growth. Large and medium-size enterprises make more use of the
funds of their customers and use their own resources to finance their
activity.
Russia trades with the neighbouring countries and a great number of
countries all over the world. The main exports are raw materials, chemicals,
weapons, and manufactured goods. The main articles of its import are
electronic equipment, consumer goods, machines, fruit, wines and electrical
goods.
Some of the main crops grown in the country are wheat, barley, oats,
and potatoes.
The main traditional industries are the metallurgical industry, the
chemical
industry, the mining industry, and the war industry. Special emphasis is
being placed on the development of such light industries as the textile
industry, the woodworking industry, and the food industry. Great emphasis
is being made on management training because Russian industry needs
industrial leaders. A great number of schools are training young people to
become managers.
The industrial science sector is particularly important because with its
help the manufacturing industries will be reconstructed, renovated
technologically and start making competitive goods. There is, as everyone
agrees, a long way ahead.
The two important and independent goals – macroeconomic
stabilization and economic restructuring – are indicators for a transition
from central planning to a market-based economy. The former entailed
implementing fiscal and monetary policies that promote economic growth
in an environment of stable prices and exchange rates. The latter required
establishing commercial and institutional entities – banks, private property,
and commercial legal codes – that permit the economy to operate
efficiently. Opening domestic markets to foreign trade and investment, thus
linking the economy with the rest of the world, was an important aid in
reaching these goals.
21
Words and phrases that will help you to understand the text:
to extract – добывать
rare and precious metals – редкие и драгоценные металлы
to suffer – испытывать, переживать
working capital – оборотный капитал
to encourage – поощрять
restructing – реструктуризация
to find a market to survive – найти рыночную нишу
transition – переход
a stock market – рынок ценных бумаг
underground economy – теневая экономика
competitive goods – конкурентоспособные товары
ahead – впереди
Tasks after the text:
1. Complete the sentence by choosing the phrase.
1. Russia is rich in ... (coal; oil; natural gas; iron ore; gold; zinc; copper;
uranium ore; water resources).
2. The greater part of the population is employed in ... (fishing; hunting;
heavy
industry; light industry; agriculture; the manufacturing industry; trade).
3. Industry is ... (concentrated in one area; widely dispersed; distributed
unevenly; concentrated in several industrial regions).
4. The main industries are… (the metallurgical industry; the chemical
industry; the electronic industry; the textile industry; the automobile
industry; the wood-working industry; the food industry; the shipbuilding
industry; the mining industry; the war industry).
5. Great emphasis is made on … (the development of industry;
the development of agriculture; research; management training;
employing
scientific methods in farming).
6. In the past few years… (new industries have been created; automation
has
been introduced at most factories and plants; labour productivity has
increased greatly; industrial output has decreased).
7. As a result of mechanization and automation... (many workers lost their
jobs; labor productivity increased greatly; the standard of living was
raised
considerably).
8. Russia trades with… (the neighbouring countries; many countries; a great
number of countries all over the world).
22
9. The main exports (imports) are ... (grain; fruit; fish; wines; tobacco;
electronic equipment; electrical goods; chemicals; cars; machines;
weapons; raw materials; consumer goods; manufactured goods;
foodstuff).
2. Answer the questions about Russian economy using the text.
1. Is the Russian Federation rich in natural resources?
2. What are its main natural resources?
3. What are its main industries?
4. Where are the main industrial centers located?
5. What is being done to intensify production and increase labour
productivity?
6. Are many workers employed in manufacturing?
7. Does Russia trade with other countries?
8. What is being done to make the farmer's work more productive?
9. How is management training organized?
3. Finish the sentences.
1. Russia is rich in... 2. The greater part of the population is employed
in .... 3. Its industry is.... 4. The main branches of industry are ... 5. Great
emphasis is made on... 6. In the past few years... 7. As a result of
automation ... 8. Russia trades with... 9. The main exports are... 10. The
main imports are...
4. Use the following sentences and speak about the economy of
Russia.
l. Russia is rich (poor) in natural resources. 2. It imports (exports) ...
from (to)... 5. It is a highly industrialized country. (It is an agricultural
country.). 4. Its industry is located ... 5. Nearly (Over) ... workers are
employed in manufacturing work. 6. Special emphasis is being placed on
the development of such industries as … 7. In recent years new branches
have been added to the traditional industries of the country, such as … 8. It
is (not) profitable for the country to produce … because it has a lot of (very
few) raw materials. 9. Great attention is also paid to the development of…
10. The country's share in the world industrial output has (greatly) increased
(decreased) in the past few years. 11. It trades with … l2. The main articles
of its import (export) are …13. The demand for its products is (great;
increasing with every passing year; decreasing). 14. It is very profitable to
trade with ... 15. The main crops grown in the country are…
23
5. Translate the text.
Экономика России
Российская Федерация – крупная промышленная страна с
различными отраслями тяжелой и легкой промышленности. Страна
стремится создать рыночную экономику.
Россия – одна из самых богатых стран мира по минеральным
ресурсам. Она богата такими полезными ископаемыми как уголь,
нефть, природный газ, железная руда, золото, а также водными
запасами и древесиной.
Россия не зависит финансово и экономически от какой-либо
другой страны. Большая часть ее населения занята в тяжелой и легкой
промышленности, а также в торговле и секторе услуг. Ее
промышленность широко рассредоточена, но имеются несколько
основных промышленных районов на Урале и в Сибири.
Основные традиционные отрасли промышленности это
металлургическая промышленность, химическая промышленность,
авиационная
промышленность,
военная
промышленность,
добывающая промышленность и машиностроение. Но за последние
несколько лет в результате экономических реформ, выпуск
промышленной продукции снизился, и многие рабочие потеряли
работу. Промышленные предприятия испытывают серьезную нехватку
финансов и недостаток оборотного капитала. Им необходимы
техническое перевооружение и развитие. Эти трудности являются
результатом экономического перехода к рыночной экономике.
Сегодня большие изменения происходят в России. Экономика
России в основном находится в частной собственности. В стране
сложился рынок ценных бумаг. Имеются тысячи совместных
предприятий и фирм с иностранным капиталом. Новые отрасли
промышленности создаются, чтобы ускорить производство.
Механизация и автоматизация используются для того, чтобы повысить
производительность труда и выпуск конкурентоспособной продукции.
Страна должна осуществить экономические реформы в
промышленности и сельском хозяйстве. Центрально – Черноземный
район и Краснодарский край – сельскохозяйственные районы.
Основные сельскохозяйственные культуры, выращиваемые в стране,
это пшеница, ячмень, овес, картофель и другие овощи. Разводят
крупный рогатый скот и свиней. Чтобы сделать работу фермера более
производительной, применяются научные методы ведения сельского
хозяйства. Спрос на ее продукцию увеличивается с каждым годом.
24
Экономическая
система
управления
переходит
от
административных методов к экономическим. Стране необходимо
уменьшить огромный бюджетный дефицит, за счет правительственных
расходов и улучшения сбора налогов.
В настоящее время основной рост приходится на сектор услуг и
торговлю. Для страны выгодно производить полуфабрикаты и
дешевые товары, так как она обладает многими сырьевыми
материалами.
Россия ведет торговлю с соседними странами и с большим
количеством стран во всем мире. Основными статьями экспорта
являются сырьевые материалы, оружие, изделия химической
промышленности и промышленные товары. Россия импортирует
товары широкого потребления, электронное оборудование,
продовольствие.
Сегодня большое внимание в России уделяется развитию новых
отраслей промышленности, особенно легкой и пищевой.
Правительство прикладывает усилия, чтобы увеличить иностранные
капиталовложения.
Особое
внимание
уделяется
обучению
управлению. Большое количество учебных заведений готовит
молодых
людей,
которые
становятся
промышленными
руководителями.
6. Used the following words in your story about Russian economy.
1. water resources
2. doesn’t depend financially and economically on …
3. service sector
4. in the past few years
5. as a result of
6. great changes
7. output of competitive goods
8. has to carry out
9. with every passing year
10. the economic management system is transferred from …
11. various branches of heavy and light industry
12. is aiming to built
13. in terms of
14. a serious deficiency of finance
15. shortages of working capital
16. to encourage the growth
17. a stock market
18. improving tax collection
25
19. underground economy
20. drive up prices
21. joint ventures
22. large and medium-size enterprises
23. to make use of
24. neighbouring countries
25. to make up an important branch
UNIT IV
ECONOMIC PROFILE OF A COUNTRY
1. ECONOMY OF CANADA
Canada has a developed market economy that is export-directed and
closely linked with the United States. The nation's economy grew
sporadically - at times strongly - in the late 20lh century. Low world prices
for oil, gas, and wheat, some of Canada's major exports, were largely
responsible for its periods of slower growth. A high rate of inflation and
persistently high unemployment continued to vex the country's policy
makers. Canada continues, however, to be ranked with Switzerland,
Sweden, and United States as one of the most affluent countries in the
world. The gross national product (GNP) is growing much faster than the
population; the GNP per capita is among the highest in the world.
With its great natural resources, skilled labour force, and modern capital
plant, Canada, as an affluent, high-tech industrial society, has excellent
economic prospects.
Nearly one-fifth of Canadian workers are in manufacturing. Industry is
highly mechanised and includes petroleum products, car manufacture, food
and metal processing. Ontario contains most of the car factories, is the main
steel producer and has important aircraft, electronics and electrical
machinery sectors. Quebec has textiles, paper and wood products, clothing,
chemicals and engineering.
Inevitable, most international trade is with the USA, and nearly half of
Canada's manufacturing industry is owned by American firms. US President
John F. Kennedy told the Canadian Parliament in 1961: Geography has
made us neighbours, history gas made us friends, economics has made us
partners and necessity has made us allies.
More than 80 per cent of Canada's farmland is in the prairies and twothirds of farm income is earned by prairie farmers. Despite the importance
of agriculture, only about one Canadian in 80 is a farmer. The average farm
size is about 225 hectares (555 acres).
Canada exports wheat and other grain crops. Tall narrow grain
elevators, where the rain harvest is stored, are distinctive landmarks. In
addition to grain, large prairie areas are devoted to raising cattle.
26
Canada's major natural resource is the forests that cover more than half
of the total land area. Most woodland is coniferous: fir, pine and spruce.
Canada is the world's largest exporter of wood pulp and paper. Canada has
developed nuclear technology and has four major nuclear power stations.
2. ECONOMY OF AUSTRALIA
Today Australia competes in world markets for the export of its
agriculture and mineral products.
Australia is rich in mineral resources, notably bauxite, coal, gold, iron
ore, nickel, and petroleum. Fertile farmland is at a premium because much of
the land is desert. Australia, however, has become one of the leading
agricultural producers in the world by applying modern irrigation
techniques to vast tracts of arid soil. Despite the great expansion in mining
and manufacturing after 1940, the prosperity of the country continues to be
largely dependent on livestock raising and crop farming.
Queensland is the leading cattle-producing state, containing
approximately one-third of the estimated 23.5 million heads of cattle in
Australia in the late 1980s. The country produces both beef and dairy cattle.
Although only about 6 percent of the total area of Australia is under
crop or fodder production, this acreage is of great economic importance.
Wheat crops occupy about 60 percent of cultivated acreage, and fodder
crops and grains occupy 20 percent. The bulk of the wheat crop is grown in
the south-eastern and southwestern regions of the country. Oats, barley,
rye, hay, and fodder crops also are important. Rice is grown in the Northern
Territory. Many types of fruit are grown, including pineapples, bananas,
papayas, and citrus fruit. The major wine-producing areas are in the
Southern Australia. Special varieties of grapes are grown for the production
of raisins.
Australia is an outstanding producer of primary products. The country is
self-sufficient in almost all foodstuffs and is a major exporter of wheat,
meat, dairy products, and wool. Australia usually produces more than 25
percent of the world's yearly output of wool. The volume of manufacturing
grew rapidly between the 1940s and 1970s, and mining became a leading
sector in the economy during the 1960s. Indeed, minerals have surpassed
wool as the leading export.
In the 1993 fiscal year the estimated federal budget included about $
68.5 billion of revenue and about $ 78 billion of expenditure.
3. ECONOMY AND INVESTMENT IN BRITAIN
Britain is one of the most highly industrialised countries in the world,
having pioneered the industrial revolution during the eighteenth and
nineteenth centuries when a series of inventions led to a complete change in
the character of production.
27
Nearly 30 per cent of the gross domestic product (GDP) comes from
manufacturing industry while the service industries (including transport,
communication, distributive trades, insurance, banking, finance and
business services, public administration and defence, public health and
education) provide almost 60 per cent. The volume of output of goods and
services (or GDP) has more than doubled over the past 30 years. About onethird of GDP is exported, international trade being of crucial importance.
The economy is mixed, with both private and state participation in, and
ownership of, industry. Among the industries in which there is state
participation are fuel and power, steel manufacture, the railways, airports
and airlines, aerospace and shipbuilding.
Like the rest of the world Britain was affected by the abrupt increase in
the prices of commodities in 1972 and 1973, particularly of oil. These and
subsequent additional oil price rises have had a depressing effect on
economic activity and with inflation have led to recession in much of the
industrialised world, producing also large balance of payments deficits in
oil-importing countries.
Government economic policy is directed towards controlling inflation
through firm fiscal and monetary policies and increasing competition,
reducing public expenditure, restoring incentives to industry, particularly
small businesses, and reducing the extent of state ownership.
Industrial relations are chiefly based on voluntary organization and on
agreements negotiated between employees and employers - often through
trade unions and employers' associations.
Manufacturing plays an important role in the economy, accounting for
more than 90 per cent of visible exports and nearly 30 per cent of national
income -almost 70 per cent of all income from production industries. Over
30 per cent of all employees are engaged in manufacturing.
Investment in Britain manufacturing, measured as a proportion of
manufacturing output, is comparable with the level of investment in other
major developed market economies. Manufacturing investment was about £
5.800 million, directed chiefly towards engineering, shipbuilding and metal
goods; chemicals; food, drink and tobacco; and vehicle manufacture.
4. FINANCE AND BANKING
Public sector finance comprises the transactions of central government,
local authorities and the public corporations. The major sources of central
government revenue on current account are taxes on income and capital
which yielded 41 per cent of revenue in 1978-1979 (£ 22.882 million);
taxes on expenditure which yielded 33 per cent of revenue (£ 18.694
million); and national insurance contributions paid by employers and
employees which yielded 16 per cent of revenue (£ 9.152 million).
28
For local authorities revenue derives mainly from Government grants,
loans and "rates", local tax based on the valuation of property; in 1978-79
rates yielded £5.996 million. A large part of the public corporations'
borrowing requirement is met by the central government but, in recent
years, they have also borrowed directly themselves in foreign currencies.
Taxes on income comprise income tax and corporation tax. Taxes on
individual incomes are progressive in that larger incomes bear a
proportionately higher rate of tax. In general, income tax is charged on all
income which has its origin in Britain and on all income arising abroad of
people resident in Britain. Companies pay corporation tax at a single rate on
all their profits, whether distributed or not; investment and other
allowances reduce the tax burden considerably. Taxes on capital comprise
capital gains tax, capital transfer tax and development land tax.
Expenditure taxes are largely excise duties on, for example, oil, tobacco
and alcohol and a value added tax (VAT) levied on a wide range of goods
and services. In the June 1979 Budget there was a shift from taxation on
earnings to taxation on spending. Public expenditure in 1978-79, excluding
the contingency reserve and debt interest, amounted to £ 63.000 million, of
which 71 per cent was undertaken
by central government, 27 per cent by local authorities and the rest
represented the capital expenditure of public corporations other than the
nationalised industries.
The social services programme (education, the national health service,
social security and personal welfare) accounted for nearly 51 per cent of the
total programmes and defence expenditure for about 11 per cent.
The Bank of England is Britain's central bank. Its main functions are: to
advise on the formulation of, and to execute, monetary and foreign
exchange policy; to manage the domestic currency and - as agent for the
Government - the foreign exchange reserves; and to supervise the banking
system within Britain. The Bank acts as banker to the Government and
commercial banks in Britain and to overseas central banks and international
monetary institutions. Monetary policy is implemented by the Bank
primarily through the money markets and the markets in British government
gild-edged securities.
The principal deposit banks are the six London clearing banks; three
Scottish clearing banks and two Northern Ireland banks. The Post Office
National Girobank provides a low-cost current account banking and money
transfer service; it is operated through most post offices in Britain.
Apart from banks and finance houses, the latter specialising in
instalment credit for individuals and companies, the main groups of financial
institutions are building societies which take deposits from the public and
make loans to people who want to buy houses or flats, pension and life
insurance funds, and investment trusts.
29
In addition there are various markets: the Stock Exchange, second only to
the New York Stock Exchange in the value of securities quoted and their
turnover; the commodity markets; the gold market; and the Baltic Exchange
(for shipping and aviation) and Lloyd's (for insurance), both pre-eminent in
their own fields.
5. HOUSING AND SOCIAL SECURITY
Planning. One of the achievements of recent British planning has been
the establishment of 32 new towns designed to relieve overcrowding in the
large cities and to provide fresh opportunities for employment. Attention is
now being focused on the regeneration of decaying inner-city areas.
Buildings and whole areas of special architectural or historic interest are
protected by law.
Housing. More than two British families in every five live in a home
built since 1945. Over half of all dwellings are owned by their occupiers
and nearly a third are rented from private landlords, and a small number
from non-profit making housing associations. Houses are much more
common than flats - the ratio is roughly four to one. The building of new
houses is financed by both public and private sectors. Private building is
almost entirely for sale to owner occupiers, while public authorities, who
have provided houses mainly for renting, are now encouraged to sell to
tenants who want to buy. Loans for house purchase are available from
various sources and tax concessions are granted to borrowers. There are also
rent rebate schemes and a system of rent allowances to help poorer tenants.
Although problems remain, housing conditions have vastly improved in
the past three decades. There are slightly more dwellings than households,
although shortages remain in some areas and the houses available are not
always of the type in demand. Emphasis is placed on improving the older
existing dwellings and their environment. Public grants are paid towards the
cost of improving older homes.
Social Security. The social security system is designed to secure a basic
standard of living for people in financial need. It provides three kinds of
help: benefits which are paid in return for contributions to the national
insurance scheme; non-contributory benefits paid to certain groups of
people regardless of income; and benefits (which are also non-contributory)
designed to bring the incomes of people with limited means up to a
guaranteed weekly level.
Choose any country that you are interested in and tell us about the
economic situation of the country.
30
UNIT V
TEXTS FOR ADDITIONAL READING
FAMILY TREE OF ECONOMICS
17th and 18th centuries
Quesnay, 1758
Adam Smith, 1776
David Ricardo, 1817
T.R. Malthus, 1798
K. Marx, 1867
V. Lenin, 1917
J. S. Mill, 1848
J. M. Keynes, 1936
China
USSR, Eastern
Europe
???
Neoclassical
Economics
Walrus, Marshall,
Fisher, 1880-1910
Modern Mainstream
Economics
31
Text 1
THE FIRST MODERN ECONOMISTS
The Mercantilists
Between the 16th and 18th centuries, the major countries of Europe
believed in the economic theory of mercantilism. Mercantilists argued that
nations should behave as if they were merchants competing with one
another for profit. Accordingly, governments should support industry by
enacting laws designed to keep labour and other production costs low, and
exports (sales to foreign countries) high. In this way the nation could
achieve what was called a favourable balance of trade.
«Favourable balance of trade» described a situation in which exports
exceeded imports. The excess, which was like profits to a merchant, would
result in an increase in the nation's supply of gold or silver. And, as most
people agreed in those days, the true measure of a nation's wealth was its
hoard of gold or silver.
To achieve favourable trade balances, the major European powers
sought to acquire colonies. Colonies, it was thought, could provide the
«mother country» with cheap labour, raw materials and a market for its
manufactured goods. In an effort to attain these goals in their American
colonies, the British, for example, enacted the Navigation Acts.
The Navigation Acts protected British industry by prohibiting the
colonies from producing certain goods like hats, woolen products and
wrought iron. The laws also listed certain «enumerated articles» (mostly
raw materials) which could not be sold to buyers in countries other than
England. Resentment towards the Navigation Acts was so great that they
are regarded as one of the principal causes of the Revolutionary War.
Today there are people who still argue that our country should promote
a «favourable balance of trade, » that the federal government should do
what it can to restrict imports and promote exports. For that reason, they are
often described as neo-mercantilists or «new» mercantilists.
The Physiocrats
For one group of 18th-century French philosophers and economists,
the suggestion that nations should go out of their way to protect business
and industry made no sense at all. These were the physiocrats. The
physiocrats argued that the products of agriculture and other natural
resources were the true source of wealth. Since these were God-given, it
made little sense for government to go out of its way to help business and
industry increase profits. For similar reasons, they opposed government
efforts to promote a «favourable balance of trade. » In other words, since
real wealth came from the land, it followed that the wisest thing
government could do would be to keep its hands off business and let nature
32
take its course. This idea was expressed in the slogan «laissez faire, » (let
people do as they choose).
Interestingly, the 200-year-old argument between those favouring
regulation of the economy and those supporting laissez faire is still with us.
Whether the problem involves individuals (like those living in poverty and
unemployment) or institutions (such as a rising tide of business or bank
failures), there are those who find the solution in government intervention,
and others who favor «laissez faire,» letting natural economic forces take
their course.
Text 2
ADAM SMITH AND THE WEALTH OF NATIONS
Seventeen seventy-six, the year that we associate with the signing of the
Declaration of Independence, also marked the publication in England of one
of the most influential books of our time, «The Wealth of Nations» written
by Adam Smith, it earned the author the title «the father of economics. »
Smith objected to the principal economic beliefs of his day. He differed
with the physiocrats who argued that the land was the only source of
wealth. He also disagreed with the mercantilists who measured the wealth
of a nation by its money supply, and who called for government regulation
of the economy in order to promote a «favourable balance of trade. »
In Smith's view, a nation's wealth was dependent upon production, not
agriculture alone. How much it produced, he believed, depended upon how
well it combined labour and the other factors of production. The more
efficient the combination, the greater the output and the greater the nation's
wealth.
The heart of Smith's economic philosophy was his belief that the economy
would work best if left to function on its own without government
regulation. In those circumstances, self-interest would lead business firms
to produce only those products that consumers wanted, and to produce them
at the lowest possible cost. They would do this, not as a means of benefiting
society, but in an effort to outperform their competitors and gain the
greatest profit. But all this self-interest would benefit society as a whole by
providing it with more and better goods and services, at the lowest prices.
To explain why all society benefits when the economy is free of regulation,
Smith used the metaphor of the «invisible hand»:
«Every individual is continually exerting himself to find the most
advantageous employment for whatever capital he can command. It is his
own advantage, and not that of society, which he has in mind, . .but he is in
this, as in many other cases, led by an invisible hand to promote an end
which was no part of his intention, for the pursuit of his own advantage
necessarily leads him to prefer that employment which is most
advantageous to society. »
33
The «invisible hand» was Smith's name for the economic forces that we
today would call supply and demand, or the marketplace. He sharply
disagreed with the mercantilists who, in their quest for a «favourable
balance of trade,» called for regulation of the economy.
Instead, Smith agreed with the physiocrats and their policy of «laissezfaire,» letting individuals and businesses function without interference from
government regulation or private monopolies. In that way, the «invisible
hand» would be free to guide the economy and maximize production.
The Wealth of Nations goes on to describe the principal elements of the
economic system. In a famous section, Smith turned to the pin industry to
demonstrate how the division of labour and the use of machinery increased
output.
«One man draws out the wire, other straights it, a third cuts it, a fourth
points it, a fifth grinds it at the top for receiving the head; to make the head
requires two or three distinct operations...»
Although modern technology has improved the methods by which pins are
produced, the principles pertaining to the division of labour remain
unchanged.
Similarly, other sections dealing with the factors of production, money and
international trade are as meaningful today as when they were first written.
Text 3
DAVID RICARDO (1772-1823)
Classical Champion of Free Trade
David Ricardo is one of history's most influential economists.
Born in England, Ricardo made a fortune on the London Stock
Exchange. This wealth gave him the time to write and to serve in
Parliament's House of Commons. His most famous work, «Principles of
Political Economy and Taxation» (1817), marked him as the greatest
spokesman for classical economics since Adam Smith.
Ricardo is especially famous in international economics for
demonstrating the advantages of free trade. Free trade is a policy in which
tariffs and other barriers to trade between nations are removed. To prove his
point, Ricardo developed a concept we now call the principle of
comparative advantage. Comparative advantage enabled him to demonstrate
that one nation might profitably import goods from another even though the
importing country could produce that item for less than the exporter.
Ricardo's explanation of comparative advantage went as follows:
Portugal and England, both of whom produce wine and cloth, are
considering the advantages of exchanging those products with one another.
Let's assume that:
• x barrels of wine are equal to (and therefore trade evenly for) у yards
of cloth.
34
• In Portugal 80 workers can produce x barrels of wine in a year. It
takes 120 English workers to produce that many barrels.
• 90 Portuguese workers can produce у yards of cloth in a year. It takes
100 English workers to produce у yards of cloth.
We can see, Ricardo continued, that even though Portugal can produce
both wine and cloth more efficiently than England, it pays them to
specialize in the production of wine and import English cloth. This is so
because by trading with England, Portugal can obtain as much cloth for 80
worker-years as it would take 90 worker-years to produce themselves.
England will also benefit. By specializing in cloth, it will be able to
obtain wine in exchange for 100 worker-years of labour rather than 120.
As a Member of Parliament, Ricardo pressed the government to
abandon its traditional policy of protection. Though he did not live to
achieve that goal, his efforts bore fruit in the 1840s when England became
the first industrial power to adopt a policy of free trade. There followed 70
years of economic growth during which the nation became the world's
wealthiest industrial power.
Text 4
ALFRED MARSHALL (1842-1924)
Price Theory Pioneer
His textbook «Principles of Economics» (1890), and the doctrines that
it discussed, became the standard for the teaching of that subject until well
into the 1940s. Marshall spent most of his adult life as a professor of
Economics at Cambridge University. His most famous pupil, John Maynard
Keynes, described Marshall as «the greatest economist of the 19th century.
» Interestingly, Keynes went on to become the most influential economist
of the 20th century.
Marshall is best known for the order that he made out of the theories of
the earlier «classical economists» like Adam Smith, David Ricardo and
John Stuart Mill. («Classical» is the name given by modern economists to
the theories of those whose views were most widely held during the 75
years following the publication of «The Wealth of Nations»). Despite the
passage of 100 years since the publication of his «Principles», his analysis
of market forces is still relied upon to explain economic events.
In Marshall's world, economic events could be explained in terms of
the equilibrium market price resulting from the interaction of supply and
demand. One of Marshall's lasting contributions was differentiating
between supply and demand in the short run and the long run. Comparing
the two forces to the blades of a scissors, he argued that neither could
function without the other. But, just as (depending on how the scissors is
held) one blade can be more active than the other, so supply and demand
varies in importance in the long and short run. In the short run, the quantity
of available goods is more or less fixed (because crops have been planted,
35
production schedules set, etc.). Therefore it is the demand for those items
that will be most influential in determining their price. In the long run, he
went on, the opposite is true. Both farmers and businesses can add to or
reduce their production facilities as the needs dictate. In that way the supply
side of the market becomes most influential in determining price.
Text 5
JOHN MAYNARD KEYNES (1883-1946)
Theorist Who Brought Economics into the Twentieth Century
John Maynard Keynes stands with Adam Smith and Karl Marx as one
of the world's most influential economists. The son of a noted British
economist, Keynes amassed a fortune through speculation in stocks and
commodities. He served the British government as a financial adviser and
treasury official through most of his adult life and was a key participant in
the negotiations following both World Wars I and II.
Although Adam Smith had written «The Wealth of Nations» about the
time of the American Revolution, by the 1930s little had changed in the
thinking of mainstream economists. Most would have agreed with Smith,
that the best thing government could do to help the economy would be to
keep its hands off. They reasoned that as long as the economy was free to
operate without interference, the forces of supply and demand would come
into balance. Then, with total supply and demand in equilibrium, everyone
looking for work could find a job at the prevailing wage, and every firm
could sell its products at the market price.
But the 1930s was the period of the Great Depression. Despite the
assurances of the classical economists, the fact was that unemployment and
business failure had reached record proportions in the United States and the
rest of the industrialized world. It was at this time (1936) that Keynes'
«General Theory of Employment, Interest, and Money» was published. The
«General Theory» transformed economic thinking in the 20th century much
the way that «The Wealth of Nations» had in the 18th.
Keynes demonstrated that it was possible for total supply and demand
to be at equilibrium at a point well under full employment. What is more,
Keynes demonstrated that unemployment could persist indefinitely, unless
someone stepped in to increase total demand.
The «someone» Keynes had in mind was government. He reasoned
that if, for example, government spent money on public works and the
income received by formerly idle workers would lead to increased demand,
a resurgence of business activity and the restoration of full employment.
The suggestion that government abandon laissez faire in favour of an
active role in economic stabilization was regarded as revolutionary in the
1930s. Since then, however, the ideas advanced by the «Keynesian
Revolution» have become part of conventional wisdom. Now, whenever a
36
nation appears to be entering into a period of recession or inflation,
economists and others immediately think of steps the government might
take to reverse the trend.
Text 6
THOMAS ROBERT MALTHUS (1766-1834)
Prophet of the «Dismal Science»
Standards of living in many developing nations continue to decline
because the growth in population is greater than economic growth. If world
economic growth continues to average about two percent annually, nearly
half the world's people will live in countries where population growth
exceeds economic growth.
This was foretold by an 18th-century English economist, Thomas
Malthus. In his «Essay on Population» (1798) Malthus warned of the dire
consequences of uncontrolled population growth. His argument was direct
and simple. While food supplies can be increased through the addition of
land and labour, the rate of growth is in an arithmetic progression (2, 4, 6, 8,
10 and so on). But population growth expands in a geometric progression
(2, 4, 8, 16, 32, 64 and so on).
Given the difference between the rate of population growth and that of
food production, Malthus concludes that a large portion of humanity was
doomed to a life of misery. Worse yet, as the arithmetically increasing food
production fell short of satisfying the geometrically increasing population,
malnutrition and disease would take their toll until the rising death rate
restored the balance between food and population.
Other than urging the poor to have fewer children, there was nothing
that society could do to reduce starvation or suffering, Malthus thought. For
that reason, he opposed legislation to provide relief and housing for those
living in poverty. In his view, such aid would simply encourage the poor to
have more children and worsen their lot. It is little wonder that after reading
the «Essay on Population», Thomas Carlyle, a contemporary British writer,
called Economics the «dismal [depressing] science. » Since Malthus's day
several factors have prevented the fulfillment of his prophecies. The most
visible of these has been the enormous increase in food production, on the
one hand, and declining birthrates in the industrialized nations on the other.
Food production increased far beyond anything he could have foreseen,
owing to scientific and technical advances in farming. Meanwhile,
declining birthrates have brought several European countries near zero
population growth.
Critics of Malthusian theory argue that the focus on population misses
the main causes of hunger and starvation. The fact is that the agricultural
nations grow enough to feed themselves and the rest of the world. However,
37
not enough food reaches those in need because poor nations do not have the
international currency with which to purchase it from world suppliers.
Thomas Malthus, a controversial figure in his own time, remains one
today. To some he was a great prophet whose theories are still relevant. To
others, his opinions are as shortsighted and inappropriate today as they were
nearly two hundred years ago.
Text 7
IRVING FISHER (1867-1947)
Pioneer in Monetary Theory
Irving Fisher spent most of his adult life as a professor of Economics at
Yale University. An accomplished mathematician, he used those skills to
explain many of his theories. In his best known formulation, the equation of
exchange, Professor Fisher showed the relationship between the quantity of
money in circulation and the level of prices.
The equation of exchange is stated as follows:
MV = PQ, where:
M = money supply
V = velocity of circulation
P = average price of goods and services
Q = quantity of units sold
Simply stated, the equation of exchange tells us that total spending is
equal to the total value of the goods and services produced by the economy.
Let's see why. M is the total amount of money in circulation, and V is its
velocity. Velocity is simply the number of times that money turns over in a
year. In other words, the amount of money in circulation, multiplied by the
number of times it is spent (MV) is equal to the total amount of money
spent by the economy in the course of the year. To illustrate, let's suppose
that each student in your class produced a product for sale, and that the
selling price of each item is $1. Your teacher buys the product from the
student sitting in the first row, first seat. That student uses the dollar to buy
the product from the student in the second seat.
The process continues around the room as each student uses the dollar
from the preceding student to buy the product of the next student. Assuming
that there are 30 class members (including the teacher), 30 items will be
sold. One dollar bill will be exchanged 30 times. Applying the equation of
exchange, the total amount of money in circulation will be $30 because:
M = $1; V = 30; and MV = $1 x 30 = $30.
The equation of exchange helps to explain why prices (and therefore the
value of money) fluctuate. Since MV = PQ, it follows that when V and Q
are constant, any change in the money supply will directly affect prices. In
other words, when the money supply increases, so will prices, and vice
versa. We can also see that increases in the money supply will not result in
38
price increases if the output of goods and services is increased at the same
or a faster rate.
Text 8
KARL MARX (1818-1883)
Prophet of Socialism and Communism
For more than half of Europe and a third of the world's population,
history's greatest economist was Karl Marx. Born in Germany, Marx's
revolutionary activities got him into trouble with the authorities, and from
1842 until his death in 1883 he lived his life in exile.
In 1849, Marx moved to London, England, where he studied, wrote,
and produced his greatest work "Capital".
Marx's single-minded dedication to his studies made it all but
impossible for him to earn a living. Were it not for the financial help he
received from his friend Frederick Engels, a wealthy textile manufacturer
from Manchester, England, he and his family might have starved to death.
As it was, they lived a life of poverty.
In 1845, the League of the Just (later to change its name to the
Communist League) asked Marx and Engels to prepare a statement of
beliefs. They wrote “The Communist Manifesto”. The “Manifesto”, which
contains some of the most memorable lines of revolutionary literature,
concludes with: «... Let the ruling classes tremble at a Communistic
revolution. The proletarians [workers] have nothing to lose but their chains.
They have a world to win. Working men of all countries unite!».
The Economic Theories of Karl Marx
It is not possible to summarize briefly everything that Karl Marx had to
say about the world in which he lived. However, the following paragraphs
describe some of his more important theories.
The economic interpretation of history. In Marx's view, the course of
history has been determined almost solely by economic forces. Forget about
things like great men and women, religion, patriotism, and the like. Look
instead, he said, at the economic events of the time to find the real reasons
why people and states behaved the way they did.
He also asserted that history has been a series of struggles between
economic classes. For example, in Ancient Rome the landed aristocracy
struggled for power with small farmers and city workers. In medieval times,
guild masters and journeymen, nobles and serfs struggled with one another
for economic supremacy. Similarly, the French Revolution could be
explained in terms of a struggle between merchant classes and the agrarian
(agricultural) aristocracy.
The exploitation of labour. According to Marx, goods and services had
value because of the efforts of labourers. But according to the economic
39
theory of the day, workers were only paid enough to enable them to stay
alive. Whatever was left over (profits) was pocketed by the factory owner
— the capitalist. Profits, therefore, represented surplus value which should
belong to those who created it: the workers.
The inevitability of capitalism's collapse. Under this system, the rich
would get richer and the poor, poorer. Because workers were underpaid,
Marx went on, they would be unable to buy the goods and services they
produced. Eventually, the system's excesses would lead to the final class
struggle. In this, workers would overthrow the capitalists who had been
exploiting them. In the new order that would follow, Marx concluded, class
struggle would no longer be necessary, and the state could simply «wither
away. » Each worker would perform «according to his ability» and be
rewarded «according to his needs».
Text 9
CLASSICAL LIBERALISM
In the seventeenth century, liberalism emerged as the radical
philosophy that attacked authoritarianism and paternalism in the political
sphere by defending the rights of the individual against the commands of
monarchs and other rulers. The seventeenth-century philosopher John
Locke questioned claims to political authority based on birth, social status,
privilege, and divine right. Political authority either derived from the
consent of the governed or else was illegitimate.
Later in the eighteenth century, liberals added the notion of the «rule of
law», the idea that government in its legislative capacity had to enact
general rules that apply to all citizens equally. The substitution of the rule of
people for the rule of law created a capricious, uncertain, and sometimes
cruel community life. This early variety of liberalism - often termed
«classical liberalism» - stimulated the development of the social sciences by
insisting that what holds society together and promotes an orderly
commercial economy is the mutual interplay of the passions and interests of
ordinary citizens in the market.
A basic principle of liberal thought is that individuals are the best and
most accurate judges of their own interests and can be relied upon to pursue
those interests with great dedication and creativity. The mighty arm of the
state with its web of regulations and bureaucratic agents often does more
harm than good when trying to substitute administrative methods of
organization for impersonal market processes that spring out of selfinterested individual action.
The philosopher and American revolutionary, Thomas Paine, wrote
that «society is created by our wants, government by our wickedness. »
Classical liberals are not anarchists and at the very least recommend a
minimal state: a state that protects lives, defines property rights, and
40
enforces private contracts. A great many classical liberals (such as Adam
Smith and the later classical school of economists) went somewhat further
and requested that the state build and maintain certain public works
(bridges, canals, highways, harbors, recreational parks, and so on), maintain
standing armies, provide basic education, promote invention and
innovation, and intervene in the market on a limited scale for specific
humane purposes such as the enactment and enforcement of child labour
laws.
Generally, the classical liberal believes in the general rule of laissezfaire and wants to preserve self-regulating market processes as much as
possible. The classical liberal is confident that with the enactment of strict
constitutional safeguards and the elimination of monopoly and the neverending varieties of special-interest legislation, peace and material progress
are within the reach of all societies and all social classes.
The leading works of classical liberalism include Adam Smith's
“Wealth of Nations” (1776), Herbert Spencer's “The Man Versus the State”
(1892), Friedrich A. Hayek's “Constitution of Liberty” (1960), Ludwig von
Mises's “Liberalism a Socio-Economic Exposition” and Milton Friedman’s
“Capitalism and Freedom(1962)”.
Vocabulary
remarkable feature – отличительная черта
to suggest – предполагать, предлагать
to be firmly grounded – твердо основываться на чем-либо
to revolve – вращаться
to acknowledge – подтверждать, признавать
to attach – прилагать, прикреплять
struggling to survive – борьба за выживание (существование)
controversial – противоречивый
beyond – сверх, дальше, больше
simultaneously – последующий
subsequent –
to disaggregate economic phenomena – расчленять экономические
явления
41
ОГЛАВЛЕНИЕ
Введение..............................................................................................................
Unit I. Language Work ………………………………………..........................
Unit II. Economic Terms ……………………………………………………....
Unit III. Basic English-Speaking Countries Economies…………………….
Text 1. British Economy…………………………………………….............
Text 2. US Economy………………………………………………….........
Text 3. Russian Economy…………………………………………….........
Unit IV. Economic Profile of a Country…………………………………….
1. Economy of Canada ……………………………………………………..
2. Economy of Australia …………………………………………………...
3. Economy and Investment in Britain …………………………………….
4. Finance and Banking ……………………………………………………
5. Housing and Social Security …………………………………………….
Unit V. Family Tree of Economics Texts for Additional Reading ………….
Text 1. The First Modern Economists……………………………………..
Text 2. Adam Smith and the Wealth of Nations………………..................
Text 3. David Ricardo………………………………………………............
Text 4. Alfred Marshall………………………………………………..........
Text 5. John Maynard Keynes……………………………………………....
Text 6. Thomas Robert Malthus…………………………………….............
Text 7. Irving Fisher…………………………………………………….......
Text 8. Karl Marx……………………………………………………….......
Text 9. Classical liberalism………..……………………………………….
ЭКОНОМИКА АНГЛОЯЗЫЧНЫХ СТРАН И РОССИИ
Методическая разработка
по развитию навыков чтения и устной речи
для студентов 2-го курса специальности
«Экономика предприятия и организаций», «Менеджмент»,
«Бухгалтерский учет, анализ и аудит»
Составитель: доц. Людмила Владимировна Лукина
Подписано в печать 18.11.2013. Формат 60х84 1/16. Уч.-изд. л. 2,5.
Усл.- печ. л. 2,5. Бумага писчая. Тираж 100экз. Заказ № 553.
__________________________________________________________________
Отпечатано: отдел оперативной полиграфии издательства учебной литературы и
учебно-методических пособий Воронежского ГАСУ
394006 Воронеж, ул. 20-летия Октября,84
3
3
6
7
8
14
18
24
24
25
25
26
28
29
30
31
32
33
34
35
36
37
38
Документ
Категория
Без категории
Просмотров
13
Размер файла
338 Кб
Теги
англоязычный, стран, экономика, 176, россии
1/--страниц
Пожаловаться на содержимое документа