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Архитектура Аудит Военная наука Иностранные языки Медицина Металлургия Метрология Образование Политология Производство Психология Стандартизация Технологии |
КАФЕДРА АНГЛИЙСКОГО ЯЗЫКА № 4Стр 1 из 11Следующая ⇒
ФЕДЕРАЛЬНОЕ ГОСУДАРСТВЕННОЕ АВТОНОМНОЕ ОБРАЗОВАТЕЛЬНОЕ УЧРЕЖДЕНИЕ ВЫСШЕГО ОБРАЗОВАНИЯ МОСКОВСКИЙ ГОСУДАРСТВЕННЫЙ ИНСТИТУТ МЕЖДУНАРОДНЫХ ОТНОШЕНИЙ (УНИВЕРСИТЕТ) МИД РОССИИ КАФЕДРА АНГЛИЙСКОГО ЯЗЫКА № 4 E .Э. Иванова, А.М. Мальцева АНГЛИЙСКИЙ ЯЗЫК ДЛЯ ИЗУЧАЮЩИХ ЭКОНОМИКУ ПРЕДПРИНИМАТЕЛЬСТВА. ВВОДНЫЙ КУРС ENGLISH FOR BUSINESS ECONOMICS: FIRST STEPS TO PROFESSIONAL LITERACY УЧЕБНИК УРОВЕНЬ В – 1 Под редакцией старшего преподавателя А.М. Мальцевой Издательство «МГИМО-Университет» 2017 Рецензенты: О.В. Десятова, кандидат экономических наук, доцент кафедры английского языка №4 МГИМО (У) МИД России Л.В. Коровина, кандидат экономических наук, доцент кафедры английского языка №2 МГИМО (У) МИД России Е.Э. Иванова, А.М. Мальцева Английский язык для изучающих экономику предпринимательства. Вводный курс = English for Business Economics: first steps to professional literacy: Уровень В1, Моск. гос. ин-т междунар.отношений (ун-т) М-ва иностр. Дел Рос. Федерации, каф. Англ. Яз. №4 – М.: МГИМО-Университет, 2017. -
Данный учебник нацелен на формирование и развитие общих и предметных (деловой английский язык) компетенций как у студентов бакалавриата, специализирующихся в области бизнеса и делового администрирования, так и у представителей широкого круга лиц, желающих расширить свой словарный запас специальной лексикой и совершенствовать переводческие компетенции, а также навыки аналитического чтения текстов по экономической тематике и обсуждения актуальных проблем экономики предпринимательства. В основу учебника положен междисциплинарный подход, предполагающий использование и актуализацию знаний, полученных в ходе изучения базовых дисциплин. Contents
ПРЕДИСЛОВИЕ.. 6 UNIT ONE.. 13 LEAD-IN.. 13 LISTENING AND VIEWING.. 21 READING AND SPEAKING I. 22 READING AND SPEAKING II. 28 READING AND SPEAKING III. 33 VOCABULARY PRACTICE.. 35 TRANSLATION SKILLS. 45 TEXTS FOR ORAL TRANSLATION.. 58 TEXTS FOR TRANSLATION IN WRITING.. 69 CONSOLIDATION.. 73 VOCABULARY CHECK.. 76 TOPICAL VOCABULARY UNIT I. 77 UNIT TWO.. 82 LEAD-IN.. 82 LISTENING AND VIEWING.. 92 READING AND SPEAKING I. 93 READING AND SPEAKING II. 95 READING AND SPEAKING III. 99 VOCABULARY PRACTICE.. 104 TRANSLATION SKILLS. 111 TEXTS FOR ORAL TRANSLATION.. 113 TEXTS FOR TRANSLATION IN WRITING.. 125 CONSOLIDATION.. 130 VOCABULARY CHECK.. 132 TOPICAL VOCABULARY UNIT II. 134 UNIT THREE.. 137 LEAD-IN.. 137 LISTENING AND VIEWING.. 143 READING AND SPEAKING I. 144 READING AND SPEAKING II. 148 READING AND SPEAKING III. 151 VOCABULARY PRACTICE.. 155 TRANSLATION SKILLS. 157 TEXTS FOR ORAL TRANSLATION.. 163 TEXTS FOR TRANSLATION IN WRITING.. 167 CONSOLIDATION.. 173 VOCABULARY CHECK.. 174 REVISION (Units I-III) 175 TOPICAL VOCABULARY UNIT III. 177 UNIT FOUR.. 180 LEAD-IN.. 180 LISTENING AND VIEWING.. 189 READING AND SPEAKING I. 189 READING AND SPEAKING II. 192 READING AND SPEAKING III. 196 VOCABULARY PRACTICE.. 198 TRANSLATION SKILLS. 200 TEXTS FOR ORAL TRANSLATION.. 208 TEXTS FOR TRANSLATION IN WRITING.. 213 CONSOLIDATION.. 219 VOCABULARY CHECK.. 221 TOPICAL VOCABULARY UNIT IV.. 223 UNIT five.. 227 LEAD-IN.. 227 LISTENING AND VIEWING.. 235 READING AND SPEAKING I. 236 READING AND SPEAKING II. 240 READING AND SPEAKING III. 242 VOCABULARY PRACTICE.. 250 TRANSLATION SKILLS. 252 TEXTS FOR ORAL TRANSLATION.. 258 TEXTS FOR TRANSLATION IN WRITING.. 265 CONSOLIDATION.. 274 VOCABULARY CHECK.. 276 REVISION (Units IV-V) 277 TOPICAL VOCABULARY UNIT V.. 279 PRaCTICE TESTS. 282 ПРЕДИСЛОВИЕ Учебник «Английский язык для изучающих экономику предпринимательства. Вводный курс.» (English for Business Economics: first steps to professional literacy) предназначен для студентов бакалавриата, начинающих изучать язык профессии по направлениям «Экономика», «Торговое дело», «Менеджмент и деловое администрирование» и др., а также представителей компаний, финансовых и других организаций, овладевающих профессиональными иноязычными компетенциями и повышающих квалификацию в области языка специальности, преподавателей ВУЗов для аудиторной и внеаудиторной работы со студентами. В соответствии с Программой подготовки бакалавра по дисциплине "Иностранный язык (английский)" целью данного издания является комплексное развитие лингвистических и профессиональных компетенций учащихся в ситуациях делового межкультурного общения в соответствии с европейским уровнем владения языками В 1. Для достижения этой цели ставятся конкретные задачи по развитию частных компетенций, сформулированные в следующих разделах Программы:
Авторы UNIT ONE KEY ECONOMIC INDICATORS LEAD-IN NOTES 1. Units and changes. Do not confuse percentage points with percentage changes. If an interest rate or inflation rate increases from 10% to 13%, it has risen by three units, or 3 percentage points, but the percentage increase is 30% (3÷10×100). 2. Annualised change. This is the change which would occur if the movement observed in any period were to continue for exactly 12 months. For example, orders rose 6.4% annualised during the first three quarters of 2006. 3. Annual change. This compares the total or average for one calendar or fiscal year with the previous one. For example, orders in 2006 were 2.7% higher than in 2005. 4. Change to end-year. This compares end-year with end-year: for example, orders fell by 2.1% over the four quarters to end-2001.
Answer the questions. 1. What is macroeconomics? 2. Why is it important to track economic indicators? 3. What do economic indicators measure? 4. What are the three broad categories of economic indicators? 5. What are the leading economic indicators supposed to predict? Give examples. 6. Which economic indicator measures the overall value of goods and services produced in the country? 7. What is the difference between real GDP and nominal GDP? 8. What is the difference between GDP and GNP? 9. What must be taken out of gross domestic product to compare economic output from one year to the next? 10. What does the unemployment rate measure? 11. What is the business cycle? 12. What are the four phases of a business cycle? 13. What do we call the economic indicator that measures inflation in the factors of production? 14. Is severe deflation good or bad for the economy? Why?
ACTIVE VOCABULARY
Exercise № 1 Pronounce the following.
fluctuation; average; emerging economies; inventories; purchasing power; Gross National Product; to intervene; to prosper; recession; consecutive; for two consecutive quarters; survey; lagging indicator; business cycle; cyclical; annualized; to deteriorate; a coincident indicator; to vary; variable; to surge; income per capita; to gauge; to affect; seasonal adjustment; consumer sentiment; irrelevant; to experience; experiment; fiscal stimulus package; to contract; incentives; to quantify; joblessness; depreciation; sustainable; phenomenon; data; urgent; euphoria; a decade. Exercise № 2 Exercise № 3 Go to · What’s the Economy? http://www.investopedia.com/video/play/whats-economy/ · Economic Indicator http://www.investopedia.com/video/play/economic-indicator/ · Leading Indicator http://www.investopedia.com/video/play/leading-indicator/ · Leading Economic Indicators Predict Market Trends http://www.investopedia.com/video/play/leading-economic-indicators-predict-market-trends/ · Economic growth http://www.investopedia.com/video/play/economic-growth/ · Nominal vs Real GDP http://www.investopedia.com/video/play/nominal-vs-real-gdp/ · Gross National Product http://www.investopedia.com/video/play/gross-national-product/ Watch and listen. Sum up the contents. READING AND SPEAKING I NOTES 1. the Great Depression - an economic slump in North America, Europe, and other industrialized areas of the world that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world – Великая Депрессия. 2. Simon Kuznets – United States economist (born in Russia) who developed a method for using a country's gross national product to estimate its economic growth (1901-1985). Simon Kuznets was awarded the 1971 Nobel Prize in economics for his empirically founded interpretation of economic growth. 3. Bobby Kennedy - Robert Francis Kennedy (November 20, 1925 – June 6, 1968), Attorney General during his brother John F. Kennedy administration. He later served as a U.S. Senator and was assassinated during his run for the presidency. Exercise № 5 Exercise № 6. Measuring what matters Man does not live by GDP alone. How well off are Americans? Frenchmen? Indians? Ghanaians? An economist’s simplest answer is the gross domestic product, or GDP, per person of each country. To help you compare the figures, he will convert them into dollars, either at market exchange rates or (better) at purchasing-power-parity rates, which allow for the cheapness of, say, haircuts and taxi rides in poorer parts of the world. To be sure, this will give you a fair guide to material standards of living: the Americans and the French, on average, are much richer than Indians and Ghanaians. But you may suspect, and the economist should know, that this is not the whole truth. America’s GDP per head is higher than France’s, but the French spend less time at work, so are they really worse off? An Indian may be desperately poor and yet say he is happy; an American may be well fed yet fed up. GDP was designed to measure only the value of goods and services produced in a country, and it does not even do that precisely. How well off people feel also depends on things GDP does not capture, such as their health or whether they have a job. In recent years economists have therefore been looking at other measures of well-being - even “happiness”, a notion that it once seemed absurd to quantify. Among those convinced that official statisticians should join in is Nicolas Sarkozy, the former French president. On September 14th 2009 a commission he appointed, comprising 25 prominent social scientists, five with Nobel prizes in economics, presented its findings. The commission divided its work into three parts. The first deals with familiar criticisms of GDP as a measure of well-being. It takes no account of the depreciation of capital goods, and so overstates the value of production. Moreover, the value of production is based on market prices, but not everything has a price. The list of such things includes more than the environment. The worth of services not supplied through markets, such as state health care or education, owner-occupied housing or unpaid childcare by parents, is “imputed” or left out, even though private health care and schooling, renting and child-minding are directly measured. The report also argues that official statisticians should concentrate on households’ incomes, consumption and wealth rather than total production. All these adjustments make a difference. In 2005, the commission found, France’s real GDP per person was 73% of America’s. But once government services, household production and leisure are added in, the gap narrows: French households had 87% of the adjusted income of their American counterparts. Next the commission turns to measures of the “quality of life”. These attempt to capture well-being beyond a mere command of economic resources. One approach quantifies people’s subjective well-being. For many years researchers had been spurred on by an apparent paradox: that rising incomes did not make people happier in the long run. Exactly what, beyond income, affects subjective well-being - from health, marital status and age to perceptions of corruption - is much pored over. The unemployed report lower scores, even allowing for their lower incomes. Joblessness hits more than your wallet. Third, the report examines the well-being of future generations. People alive today will pass on a stock of exhaustible and other natural resources as well as machines, buildings and social institutions. Their children’s human capital (skills and so forth) will depend on investment in education and research today. Economic activity is sustainable if future generations can expect to be at least as well off as today’s. Finding a single measure that captures all this, the report concludes, seems too ambitious. That sounds right. For one thing, statisticians would have to make assumptions about the relative value of, say, the environment and new buildings - not just today, but many years from now. It is probably wiser to look at a wide range of figures. Some members of the commission believe that the financial crisis and the recession have made a broadening of official statistics more urgent. It is perhaps going too far to hope that had there been a better measurement system, one that would have signalled problems ahead, so governments might have taken early measures to avoid or at least to mitigate the present turmoil. Stockmarket indices, soaring house prices and low inflation surely did more to feed bankers' and borrowers' exaggerated sense of well-being. But there might have been less euphoria had financial markets and policymakers been less fixated on GDP. Broadening official statistics is a good idea in its own right. Some countries have already started - notably, tiny Bhutan. There are pitfalls, though. The report justifies wider measures of well-being partly by noting that the public must have trust in official statistics. Quite so; which makes it all the more important that the statisticians are independent of government. Another risk is that a proliferation of measures could be a gift to interest groups, letting them pick numbers that amplify their misery in order to demand a bigger share of the national pie. But these are early days. Meanwhile, get measuring. The Economist, September 17th, 2009 NOTES 1. Purchasing power parity ( PPP) - паритет покупательной способности, ППС (равенство стоимости корзин идентичных товаров в разных странах, пересчитанных в одну валюту по существующему валютному курсу, и, следовательно, равенство покупательной способности их национальных валют). Курс по паритету покупательной способности является идеальным курсом обмена валют, рассчитанным как средневзвешенное соотношение цен для стандартной корзины промышленных, потребительских товаров и услуг двух стран. 2. quality of life - качество жизни - обобщающая социально-экономическая категория, представляющая обобщение понятия "уровень жизни", включает в себя не только уровень потребления материальных благ и услуг, но и удовлетворение духовных потребностей, здоровье, продолжительность жизни, условия среды, окружающей человека, морально-психологический климат, душевный комфорт. Choose the correct answer. 1. The GDP per capita is designed to measure · the quality of life · the value of goods and services produced by the population of this country · the total output of a country divided by the total number of people · the amount of money that is being earned per person in a country
2. The author considers GDP per head to be an inaccurate measure of quality of life in a country because · it takes no account of depreciation of capital goods · it only captures material wealth but excludes some phenomena which have an increasing impact on the well-being of citizens · it is based on market prices · it is normally revised after a certain period of time
3. It can be inferred that had there been more awareness of the limitations of standard metrics, like GDP, · the financial crises and recession could have been avoided · bankers and borrowers would have felt worse-off · there would have been less euphoria over economic performance in the years prior to the crisis · the policymakers would have taken early measure to moderate the melt-down
4. The key message of the report is that the time is ripe · to dismiss GDP and production measures · to shift emphasis from measuring economic production to measuring people’s well-being in the context of sustainability · to focus on material living standards that are more closely associated with measures of real household income and consumption · to ensure that statisticians are independent of governments
Exercise №8 Exercise № 9 Behind the bald figures NOTES 1. Big Mac index - индекс "Биг Мак" - способ приблизительной проверки корректности уровня валютного курса, основанный на теории абсолютного паритета покупательной способности; при расчете индекса вместо стоимости обычной потребительской корзины используется цена сандвича "Биг Мак" в разных странах; напр., если Биг Мак стоит 2,75 евро в странах, которые используют эту валюту, и $2,65 в США, тогда курс доллара к евро должен быть равен 2,75/2,65 = 1,0377; индекс ежемесячно публикуется журналом The Economist с 1986 г. 2. hemline theory – теория «длины дамских юбок» - шуточная теория о том, что цены на акции меняются в одном направлении с длиной дамских юбок. Exercise № 11 Exercise № 13 rate - 1) размер, норма; 2) ставка, тариф; 3) курс; 4) темп, скорость;5) коэффициент, показатель, степень; 6) разряд, сорт, класс. Exercise № 14 to account for – 1) составлять, приходиться на долю; 2) объяснять что-либо, служить причиной; 3) отчитываться за что-либо, нести ответственность; 4) обеспечивать за счет чего-то. Обратите особое внимание на необходимость грамматической трансформации при переводе предложений, в которых глагол to account for употребляется в значении приходиться на долю. Например : The U.S. now accounts for 45 per cent of Hong Kong’s exports by value. – В настоящее время на долю США приходится 45 % от общего объема экспорта Гонконга в стоимостном выражении. Translate the following sentences into Russian. 1. China accounts for about a fifth of the world's total economic output and any slowdown may affect a global recovery. 2. It’s important to keep in mind that the industrial sector accounts for less than a quarter of all final products produced in the U.S. 3. The Pentagon cannot properly account for nearly nine billion dollars received for Iraqi reconstruction programs after the 2003 US invasion. 4. In 2008 private consumption accounted for only 35% of the US GDP, down from 49% in 1990. 5. In America start-ups have accounted for almost all the job creation in the past couple of decades. 6. Exports of industrial raw materials and capital goods, especially to emerging economies, account for the lion’s share of recent gains in GDP. 7. The invention of the cotton gin (машина для очистки хлопкового волокна) was one of the key factors that accounted for the explosive growth of cotton production and slave labor in the South in the 1850's. 8. The storekeeper was expected to account for any material removed. 9. An increase in net exports has accounted for no less than two-thirds of Germany’s total GDP growth over the past decade, far more than any other big economy. 10. At the board meeting the sales manager accounted for the failure to meet the target figures. 11. Bad weather accounted for the delay in delivery. Exercise № 15 Describing graphs, trends, and changes
Going up |
Verbs | to advance, to climb, to increase, to rise, to grow, to gain ground, to head north, to improve, to go up | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Nouns | an advance, an increase, a rise, a growth, a climb, a hike, an upturn | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Going down
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Verbs | to decline, to drop, to fall, to head south, to lose ground, to retreat, to slide, to go down, to contract, to shrink | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Nouns | a decline, a drop, a fall, a retreat, a slide, a downturn | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| These words used to talk of an upward or downward trend do not in themselves indicate by how much indicators have gone up or down. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Going down by small Or moderate amounts
| V | to dip, to drift (lower), to ease, to edge down, to edge lower, to slip (lower) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| N | a dip, a drift, a slip | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Going up By large amounts | V | to jump, to leap, to roar ahead, to roar up, to rocket, to shoot ahead, to shoot up, to skyrocket, to soar, to surge (ahead) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| N | a jump, a leap, a surge | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Going down By large amounts | V | to dive, to nosedive, to plunge, to plummet, to tumble | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| N | a dive, a nosedive, a plunge, a tumble | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Going down fast By very large amounts | V | to collapse, to crash, to crumble, to slump | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| N | a crash, a collapse, a slump | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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No change | to remain stable, to level off, to stay at the same level, to remain constant, flat to stagnate, to stabilize, to remain steady | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Change of direction | to peak, to reach a peak, to top out, to reach a low point, to bottom out, to recover, to rebound, to revive | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The amount of increase or decline can also be indicated using these verbs: | to double, to triple, to quadruple, to increase fivefold; to halve | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Adjectives and adverbs
| a dramatic fall | to fall dramatically | существенный (но) |
| an abrupt rise | to rise abruptly | резкий (о) |
| a sudden decline | to decline suddenly | внезапный (о) |
| a moderate growth | to grow moderately | умеренный (о) |
| a slight increase | to increase slightly | незначительный (о) |
| a rapid drop | to drop rapidly | стремительный (о) |
| a gradual decline | to decline gradually | постепенный (о) |
| a steady recovery | to recover steadily | устойчивый (о) |
| erratic fluctuation | to fluctuate erratically | хаотичный (о) |
| a constant leveling off | to level off constantly | непрерывный (о) |
| a marginal pick-up | to pick up marginally | несущественный (о) |
| a marked fall | to fall markedly | заметный (о) |
| a fractional increase | to increase fractionally | незначительный (о) |
Exercise № 16
Перевод каждого предложения следует начинать с анализа его грамматической структуры, т.е. нахождения грамматической основы и установления связи между словами. При этом следует иметь в виду, что перед подлежащим предлоги отсутствуют. Сказуемое может быть удалено от подлежащего, а отдельные части сказуемого – друг от друга.
In services the pessimism expressed about the coming year was reminiscent of mid-2009, before the recovery had picked up any speed at all
Food prices , which rose by about 11% in the year to February, have made a bigcontribution to China’s consumer-price inflation, now running at 4.9%.
Если предложение содержит предлоги, необходимо выяснить, какие слова в предложении они связывают.
Во многих случаях перевод с английского языка на русский сопровождается изменением порядка слов. Следует помнить, что в отличие от английского языка, в котором принят прямой порядок слов, в русском языке порядок слов свободный, а обстоятельства времени и места по большей части стоят в начале предложения. Также в начало предложения помещается и ссылка на источник информации, если таковая имеется. Инфинитив цели, стоящий в конце английского предложения, тоже, как правило, выносится вперед.
Exercise № 17
Exercise № 20
As – выступая в качестве союза, переводится: 1) когда, в то время как, по мере того как; 2) так как; 3) как, в качестве. После прилагательного в предложении с инверсией имеет уступительное значение и переводится: хотя, как ни; в сочетании с прилагательным и наречием – так же…как, такой же…как.
Другие сочетания:
as well as – а также;
as if – как будто, как если бы;
so as – (с тем) чтобы, так чтобы;
as it is – (в начале предложения) как бы то ни было, в действительности, можно сказать; (в конце предложения) уже и так, без того;
as it were – как бы то ни было;
as to ( for) - что касается;
just as – в тот самый момент, когда
Translate the following sentences into Russian.
1. As China's economy grows ever bigger, more and more companies, industries and economies will be sucked into its orbit, just like Australia.
2. Demand, especially in China and India, should continue to strengthen as these countries require more steel, food and fuel.
3. As prices rise quickly in Australia's booming industries and regions, the Reserve Bank of Australia can meet its inflation target only if prices elsewhere fall.
4. As the global recession is making consumers and businesses more price-conscious, China is grabbing market share from its competitors.
5. As the world’s biggest exporter of sugar and coffee and the second-largest producer of soyabeans, Brazil has already won the title of an agricultural superpower.
6. Exports of merchandise rose by two-thirds from 2000 to 2008, according to the WTO, as did trade in services.
7. Airlines face heavy investments in new aircraft to modernize their fleet and to meet demand as well as higher growth rates forecast for the long term.
8. The one unworried head in this storm, at least until now, has been American consumer, who still shops as if there was no tomorrow.
9. The Fed was probably as surprised by the economy’s strength as were private forecasters.
10. Defeating deflation will be hard enough as it is.
11. Many economists pointed to government incentives as the way out of the economic mess.
12. As the effects of the US slowdown spread throughout the world, some OPEC members are calling for a further cut in production of up to 1m barrels a day.
13. One of the biggest beneficiaries of this spending power is the tourism sector, which has exploded as China’s middle class has embraced domestic and foreign travel.
14. The strong currency is threatening to undermine Japan’s economic recovery just as industrial production rebounds following the earthquake and tsunami.
15. But online sellers of all sorts of goods and services are taking a keen interest in new software that promises to help them spot customers who are well off, or whose money is burning a hole in their pockets, so as to charge them more
16. Some companies, such as local retailers, benefit from lower import costs, but those that manufacture in the euro zone and sell in the U.S. or Asia are facing a serious competitive disadvantage.
Временные формы глагола
· Когда речь идет о событиях, происшедших в недавнем прошлом, обычно используется настоящее неопределенное время.
На русский язык такие заголовки переводятся обычно прошедшим временем:
Pakistan blocks US envoy visit: official
Пакистан отказался принять американского дипломата
· Будущее действие часто передается с помощью инфинитива:
При переводе заголовков такого типа на русский язык употребляется глагол в будущем времени, настоящего времени со значением будущности или же безглагольным заголовком.
Lloyds Banking Group to cut 700 jobs
Банковская группа Lloyds Banking Group сократит 700 рабочих мест
Japan´s NEC to slash 10,000 jobs
Японская компания NEC планирует сократить 10 тысяч сотрудников
(При переводе этого заголовка на русский язык используется глагол настоящего времени со значением будущности.)
Экспрессивность
Англоязычные заголовки характеризуются большей экспрессивностью, нежели русскоязычные. Поэтому необходимо учитывать эту экспрессивность лексических и грамматических средств и переводить англоязычные заголовки так, чтобы они были доступны пониманию русского читателя:
After EU "Yes", Croatia needs reforms
Хорватия на пороге в ЕС: необходимы реформы
(Английский газетный заголовок экспрессивен за счет своего разговорного характера. Для того, чтобы предать русскому заголовку эту экспрессивность, используется фразеологизм « на пороге ч-л./к-л.»)
Exercise № 21
TEXT 1
TEXT 2
TEXT 3
TEXT 4
TEXT 5
NOTES
El Nino weather phenomenon - an abnormal weather pattern that is caused by the warming of the Pacific Ocean near the equator. This occurs when the normal trade winds weaken (or even reverse), which lets the warm water that is usually found in the western Pacific flow instead towards the east. Эль-Ниньо (от испанского «малыш, мальчик») — это колебания температуры поверхностного слоя воды в экваториальной части Тихого океана, при которых область нагретых вод смещается к востоку.
TEXT 6
NOTES
‘ Brexit’ vote – референдум по вопросу выхода Великобритании из состава ЕС
TEXT 7
NOTES
to tread waters ( idiom) – 1) держаться на плаву 2)топтаться на месте, буксовать
TEXT 8
NOTES
1. Ireland Inc – компании Ирландии
2. Celtic Tiger economy - A term given to Ireland in the 1990s during an average economic growth rate of 6.5 percent. The first boom ended when the Internet bubble burst in 2001. A second boom in Ireland in 2004 is referred to as the Celtic Tiger 2. This ended in 2008. - Прозвище «кельтский тигр» Ирландия получила еще в 1994 году, когда экономист инвестиционного банка Morgan Stanley Кевин Гарднер отметил таким образом высокие темпы роста в этой стране, сопоставимые с показателями восточноазиатских «тигров» (Южной Кореи, Сингапура, Гонконга и Тайваня). Период бурного роста, низких темпов инфляции и снижения уровня безработицы уже в конце 1990-х получил название «ирландское экономическое чудо».
3. … luxury marques such as Audi and BMW have enjoyed an increase this year - в таких предложениях сказуемое, выраженное глаголом enjoy, как правило, переводится словами “отмечалось”, “произошло”, “наблюдалось”. Если за таким сказуемым идет дополнение в виде существительного, обозначающего “увеличение” чего-то, то в этом случае глагол опускается, а сказуемым становится это дополнение.
TEXT 9
TEXT 10
Grossly Deceptive Plans
TEXT 11
Taking Europe’s pulse
The recovery in the 19-strong euro area is continuing but it is nothing to write home about. Growth had picked up to 0.5% in the first quarter of 2015 (compared with the final quarter of 2014), the strongest performance since the upswing started in the spring of 2013. Since then, however, the pace of expansion has slackened, to 0.4% last spring and an average quarterly rate of 0.3% in the second half of last year. Indeed, euro-zone GDP in the final quarter of 2015 was still below its pre-crisis peak of early 2008 whereas America’s was almost 10% above its peak of late 2007.
The sluggish pace of the recovery has been especially disappointing given the fact that the euro area has benefited from a double fillip. First, the fall in energy prices caused by the collapse in the oil price acted in much the same way as a tax cut, boosting consumer spending—the main engine of the recovery. Second, the European Central Bank has carried out quantitative easing since March 2015.
The outlook for growth in 2016 now looks feebler and more uncertain following the sharp falls in European stock markets. The slowdown in China and emerging economies, which account for a quarter of euro-zone exports, will also harm the recovery by hurting exporting companies. Germany will be particularly affected since the Chinese market has been a lucrative one for its exports of capital goods and luxury cars. Despite these brakes a recovery of sorts should remain intact, for three reasons. Renewed declines in oil prices will further boost household budgets. The European Central Bank is poised to loosen monetary policy still further. And spending on refugees, especially in Germany, will provide a modest fiscal stimulus.
The Economist, February 18th, 2016
NOTES
1. nothing to write home about (idiom) - not something that is especially good or exciting; mediocre; not as good as you expected – ничего особенного, так себе.
2. given – учитывая, принимая во внимание
3. quantitative easing - an unconventional monetary policy in which a central bank purchases government securities or other securities from the market in order to lower interest rates and increase the money supply – либерализация денежно-кредитной политики, по сути, увеличение объема денежной массы в обращении; т.н. «количественное смягчение».
Exercise № 23
Exercise № 24
Going up
Verbs
Nouns
Going down
Verbs
Nouns
These words used to talk of an upward or downward trend do not in themselves indicate
by how much indicators have gone up or down.
Going down by small
Or moderate amounts
Going up
By large amounts
Going down
By large amounts
Going down fast
By very large amounts
No change
Change of direction
The amount of increase or decline can also be indicated using these verbs:
UNIT TWO
Mining industry
Extractive or mining industry involves extraction of solid mineral resources from the earth. These resources include ores, which contain commercially valuable amounts of metals, such as iron and aluminum; precious stones, such as diamonds; building stones, such as granite; and solid fuels, such as coal and oil shale.
The search for and discovery of mineral deposits is called prospecting, or exploration. When a mineral deposit is found, it is studied to determine if it can be mined profitably.
Any material that cannot be grown through agricultural processes, or created artificially in a laboratory or factory, is usually mined.
Energy Sector
The reliance of virtually all industries on electric power and fuels means that all sectors have some dependence on the Energy Sector. It is one of the largest, most dynamic, and often most controversial industries in the world.
This sector includes companies involved in the exploration and development of oil or gas reserves, oil and gas drilling, or integrated power firms. The energy industry is very broad, but it can be divided into three primary categories:
Scientists and engineers work to develop energy sources and generation methods that are renewable, eco-friendly and sustainable.
A renewable resource is a substance of economic value that can be replenished simultaneously or in less time as it takes to draw the supply down. Some renewable resources have essentially an endless supply, such as solar energy, wind, sea waves and geothermal pressure. There are many incentives for using alternative energy. For example, energy taxes put a surcharge on fossil fuels so that the prices of renewable resources are more competitive and people will be more inclined to switch over.
Yet, even as the industry focuses on developing alternative fuel sources, petroleum and natural gas companies continue to search for new sources of these products and new ways for extracting them from previously difficult-to-access locations.
Manufacturing industry
The secondary sector includes manufacturing as well as the construction of buildings and highways and utilities such as those that generate and distribute electricity.
Manufacturing is the process of converting raw materials and/or parts into finished products suitable for use or consumption that can be sold in wholesale or retail markets or exported for sale in other countries. It covers a wide range of industries, from food and beverages to pharmaceuticals, iron and steel to textiles, as well as tobacco, automobiles, aerospace, and petrochemicals and many others. All manufactured goods fall under one of the following categories: durable or nondurable goods. Durable goods, such as cars, airplanes, and large household appliances, may be used for a long time. Nondurable goods, such as food, cosmetics, and clothing, are consumed more rapidly.
The manufacturing industry accounts for a significant share of the industrial sector in developed countries. Final products can either serve as finished goods for sale to customers or as intermediate goods used in the production process. Manufacturing industries are important for an economy as they employ a huge share of the labour force and produce materials required by sectors of strategic importance such as national infrastructure and defence.
To produce any goods manufacturers have to make some inputs into production. Usually economists distinguish four main factors of production: labour, capital, land and entrepreneurship.
There are different types of manufacturing depending on the factor which dominates in the production process. For example, production can be labour-intensive, capital-intensive, knowledge-intensive and raw material intensive.
Any manufacturing process requires specific production facilities. These are buildings, machinery and equipment which are used in the production process. And certainly it needs people who will operate these facilities. They are called blue collars and work in the workshops. There are also white collars who do not participate directly in the production process and work in the office.
Any production process involves a series of links in a production chain. At each stage value is added in the course of production. Adding value involves making a product more desirable to consumers so that they will pay more for it. The manufacturing process begins with the product design, and material specification from which the product is made. These materials are then modified through manufacturing process to become the required part. Later these parts or components are assembled in the workshops, and, finally, finished goods are normally sent to the warehouse where they are stored pending sale.
The expenses of the production process are called production costs. These can be fixed costs, which do not depend on the output, such as rent, or variable costs, which do change with the output, for example, raw material costs. Some costs can be either fixed or variable, for example, wages of blue collar workers. Any business tries to cut costs and maximize profit.
Goods which are produced at the factories, plants and mills are called manufactured products. They can be of two main kinds: capital goods, such as machine tools, which are used to produce other goods, and consumer goods, which are consumed by final customers.
Some countries are called industrialized or industrially developed, which means that they have a lot of factories, plants and mills with large capacity where the most modern equipment is installed and the most advanced production techniques and know-how are used. These countries have high level of labour productivity and efficiency of machinery.
Services
The last but not least sector of the global economy is the service sector which is comprised of firms offering ‘intangible goods’. Nowadays services account for about 64% of global GDP. In post-industrial economies they play increasingly important role. The service sector primarily consists of transportation, messenger services and warehousing; information services; banking and financial investment services; accounting and insurance, rental and leasing services; administrative and technical support; waste management; health care and social assistance; as well as entertainment and recreation services.
A sector or industry characterized by high growth rates, high degree of innovation, numerous start-ups and an abundance of venture capital funding is called a “sunrise industry”. Examples of sunrise industries include alternative energy in the period from 2003 to 2007, and social media and cloud computing in 2011 and 2012. A mature industry that has little or no growth prospects and is becoming less important to the economy is referred to as a “sunset industry”.
In the past 100 years, developed economies have seen a transition from a manufacturing based economy to one where the ‘service sector’ or ‘tertiary sector’ dominates.
Answer the questions.
1. What are the three main sectors of economy? Which of them are mostly developed in Russia?
2. What is mining industry? What role does it play in global economy?
3. Why is energy sector so important to the world economy?
4. What exhaustible energy sources are used today to generate power?
5. What are the advantages and disadvantages of major alternative sources?
6. What does it mean if a country is called industrialized? Can you name any industrialized countries?
7. Describe the main stages of production process. What role do white-collars and blue-collars play in it?
8. What types of manufacturing do you know? Which of them do you think is the best one and why?
9. How are manufactured goods generally classified?
10. What role do services play in global economy? What are the main service sectors?
11. What do the terms “sunrise” and “sunset” industries imply?
12. Why is it important for a country to have a diversified economy?
13. Which new services have emerged and become popular of late?
14. What structural changes have been typical for the developed economies in the past 100 years?
ACTIVE VOCABULARY
| 1. agriculture syn. farming | сельское хозяйство |
2. mining (industry)
syn. extractive industry
| горный промысел , горнодобывающая промышленность
|
| 3. to drill · drilling | проводить буровые работы, бурить
|
| 4. services · to render/provide services | у слуги
|
| 5. ferrous metals ant. non-ferrous metals | черные металлы ант. цветные металлы |
| 6. precious metals (stones) | драгоценные металлы (камни) |
| 7. raw materials syn. crude materials | сырье |
| 8. commodities | сырьевые товары, биржевые товары |
9. to sustain
| поддерживать
|
| 10. deposit · depletion of deposits | месторождение · истощение запасов месторождений |
| 11. exploration syn. prospecting | разведка ( месторождений ) |
| 12. development | освоение (месторождений) |
13. resource(s)
| ресурс(ы), в т.ч. природные ресурсы, средства, источник(и) энергии, потенциал, запасы
|
| 14. to replenish | пополнять, восполнять |
| 15. energetics | энергетика |
16. energy
syn. power
| энергоносители, энергоресурсы, энергия, электроэнергия
|
17. fuel
| топливо
|
| 18. electricity | электричество |
| 19. power supply | энергообеспечение, подача электроэнергии |
| 20. power plant syn. power station | электростанция |
| 21. crude oil (crude) · oil shale | нефть (не прошедшая переработку) · нефтяной сланец |
| 22. petroleum | нефть, углеводородное сырьё; бензин |
| 23. gasoline | бензин |
| 24. energy-consuming syn. energy-intensive | энергоёмкий |
| 25. energy-saving | энергосберегающий |
| 26. construction | строительство |
| 27. capacity | 1) мощность, производительность (станка, оборудования) 2) способность, возможность (делать что-либо) |
| 28. equipment syn. machinery · to install equipment | оборудование, оснащение · устанавливать оборудование |
| 29. know-how | умение, знание и опыт, секреты производства, ноу-хау |
| 30. input syn. factor of production | фактор производства |
31. production
| 1) производство, изготовление, добыча
2) выработка (напр. в день)
|
| 32. productivity | производительность (как правило, труда) |
| 33. value added goods · value added · white goods · brown goods | товары с более высокой добавленной стоимостью · добавленная стоимость · бытовая техника · бытовая электроника |
| 34. еfficiency | производительность, эффективность (как правило оборудования) |
35. products
syn. goods
| товары, продукция
|
| 36. to design · design (n) | проектировать, конструировать · конструкция |
| 37. facilities · to operate facilities | 1) возможности 2) мощности (производственные) 3) оборудование, приспособления 4) здания, сооружения (заводов, фирм и т.п.) 5) услуги · управлять оборудованием |
| 38. capital goods | средства производства, товары производственного назначения, основной капитал |
39. consumer goods
| потребительские товары
|
40. entrepreneurship
| предпринимательство
|
| 41. blue collars | производственные рабочие («синие воротнички») |
| 42. white collars | офисные работники, служащие, инженерно-технический персонал («белые воротнички») |
| 43. (work)shop | цех, мастерская |
| 44. components | комплектующие, детали |
| 45. spare parts | запасные части |
46. supplier
| поставщик · поставлять |
| 47. customer | покупатель, заказчик, клиент, потребитель |
48. assembly
| сборка, монтаж
|
| 49. warehouse | склад |
| 50. machine tool | станок |
51. costs
| издержки, затраты
|
| 52. profit | прибыль |
| 53. to diversify · diversified economy | диверсифицировать
|
| 54. sunrise industry ant . sunset industry | развивающиеся передовые, прогрессивные отрасли ант. традиционные отрасли, находящиеся в стадии упадка |
| 55. mature | зрелый, исчерпавший возможности развития |
| 56. intangible goods | неосязаемая продукция |
| 57. banking | банковские услуги, банковская деятельность |
| 58. warehousing | складирование, хранение |
| 59. messenger services | служба доставки, курьерские услуги |
| 60. rental and leasing services | прокат и долгосрочная аренда |
| 61. waste management | утилизация отходов |
| 62. accounting | бухгалтерские услуги, бухгалтерская деятельность |
| 63. insurance | страховые услуги, страховая деятельность |
| 64. cloud computing | облачные компьютерные технологии |
| 65. administrative and technical support | административное обеспечение и техническая поддержка |
Exercise № 1
Pronounce the following.
national; tertiary; process; extractive; ore; iron; precious; deposit; refinement; fossil fuel; eco-friendly; petroleum; gasoline; non-renewable; exhaustible resources; fertilizers; quarrying; hydroelectric; sewage; chemicals; nuclear; geothermal; replenish; incentives; finite; nondurable; goods; petrochemicals; pharmaceuticals; appliances; intermediate goods; technique; machinery; entrepreneur; entrepreneurship; components; intangible goods; diversify; automotive; biotechnology; mature industry; social media; nanotechnology; microeconomics; assembly; variable costs; utilities; legal; inventories; digitization; renaissance.
Exercise № 2
Exercise № 3
Go to
· The Modern Economy Primary, Secondary Tertiary Sectors https://www.youtube.com/watch?v=WQt3hEUTnXo
· Industry http://www.investopedia.com/video/play/factors-production/
· Factors of Production http://www.investopedia.com/video/play/factors-production/
· Tertiary Industry http://www.investopedia.com/video/play/tertiary-industry/
Watch and listen.
Sum up the contents.
READING AND SPEAKING I
NOTES
1. offshore production – производство, перенесенное за рубеж (например, в страны с более низкими издержками)
2. level playing field – равные возможности, равные условия
What does the term “offshoring” imply? What is the main distinction between “offshoring” and “outsourcing”, if any? What are the most common motives for offshoring production or services? Search the Internet for the information, if necessary.
Comment on the headline.
NOTES
tight labour market - more jobs than workers- высокий спрос на рабочую силу при ограниченном ее предложении.
Provide examples of SUPPORTING DETAILS which clarify, illuminate, explain, describe, expand and illustrate the main idea. What types of supporting materials (comparisons, contrasts, quotations, statistics, vivid descriptions) does the article contain?
NOTES
1. disposable income - the amount of money that households have available for spending and saving after income taxes have been accounted for – располагаемый доход
2. minimum capital requirements - the share capital that must be deposited by shareholders before starting business operations – необходимый минимальный объем капитала
TEXT 1
NOTES
1. the Internet of things - (IoT) refers to the ever-growing network of physical objects that feature an IP address for internet connectivity, and the communication that occurs between these objects and other Internet-enabled devices and systems – Интернет вещей
2. additive manufacturing - a manufacturing process through which three-dimensional (3-D) solid objects are created. It enables the creation of physical 3-D models of objects using a series of additive or layered development framework, where layers are laid down in succession to create a complete 3-D object (also known as 3-D printing) – аддитивное производство с использованием технологий 3D печати.
3. given – учитывая, принимая во внимание
4. provided – при условии, что ….
TEXT 2
TEXT 3
TEXT 4
NOTES
“rust belt” - a slang term for a geographic region in the United States stretching from New York through the Midwest that was once involved in steel production and manufacturing – «ржавый пояс»
TEXT 5
NOTES
1. the Holy Grail – 1) the bowl believed to have been used by Jesus Christ at the Last Supper 2) any desired ambition or goal, something that is extremely difficult to find or get – Священный Грааль, обозначение какой-либо заветной цели, часто недостижимой или труднодостижимой
2. to be on track - making progress and likely to succeed – произойти с высокой степенью вероятности
TEXT 6
NOTES
if that drop does materialize; when crude prices finally do rebound - глагол do служит для выделения сказуемого и передается словами: «действительно», «же», «все же», «ведь» и др.
TEXT 7
Translate the article into Russian orally.
TEXT 8
Translate the article into Russian orally.
TEXT 9
Translate the article into Russian in writing.
The march of the zombies
China’s huge exports of industrial goods are flooding markets everywhere, contributing to deflationary pressures and threatening producers worldwide.
China’s surplus capacity in steelmaking, for example, is bigger than the entire steel production of Japan, America and Germany combined. Rhodium Group, a consulting firm, calculates that global steel production rose by 57% in the decade to 2014, and Chinese mills accounted for 91% of this increase. In industry after industry, from paper to ships to glass, the picture is the same: China now has far too much supply in the face of shrinking internal demand. Yet still the expansion continues: China’s aluminium-smelting capacity is set to rise by another tenth this year and around two billion tonnes of gross new capacity in coal mining will open in China in the next two years.
China’s grotesque overinvestment in industrial goods is a very big problem. This binge has left many state-owned firms vulnerable to slowdown, turning them into profitless zombies.
Chinese industrial firms last year posted their first annual decline in aggregate profits since 2000. Returns on assets of state firms, which dominate heavy industry, are a third those seen at private firms, and half those of foreign-owned firms in China.
The roots of this mess lie in China’s response to the financial crisis in 2008. Officials subsidize money indiscriminately at state firms in infrastructure and heavy industry. The resulting overcapacity creates even bigger headaches for China than for the rest of the world.
The good news is that the Chinese have publicly recognized there is a problem. The bad news is that three of the tacks they are trying only make things worse.
One option is for China’s zombies to export their overcapacity. But even if the Chinese keep their promises not to devalue the yuan further, the flood of cheap goods onto foreign markets has already exacerbated trade frictions. Another approach is to keep stimulating domestic demand with credit. But borrowing more as profits dive will only worsen the eventual reckoning for zombie firms. A third policy is to encourage consolidation among state firms. Some mergers have happened—in areas such as shipping and rail equipment. But there is little evidence of capacity being taken out as a result.
Chinese leaders are dancing around the obvious solutions—stopping the flow of cheap credit and subsidized water and energy to state firms; making them pay proper dividends rather than using any spare cash to expand further; and, above all, closing down unviable firms.
The Economist, February 27th, 2016
TEXT 10
Translate the article into Russian in writing.
NOTES
ISM Non-manufacturing Index - an index based on surveys of more than 400 non-manufacturing firms' purchasing and supply executives, within 60 sectors across the nation, by the Institute of Supply Management (ISM) – индекс деловой активности в непроизводственной сфере, составленный на основе опросов менеджеров по закупкам и поставкам
TEXT 11
Translate the article into Russian in writing.
U.S. shale's message for OPEC: above $40, we are coming back
Less than a year ago major shale firms were saying they needed oil above $60 a barrel to produce more; now some say they will settle for far less in deciding whether to crank up output after the worst oil price crash in a generation.
Their latest comments highlight the industry's remarkable resilience, but also serve as a warning to rivals and traders: a retreat in U.S. oil production that would help ease global oversupply and let prices recover may prove shorter than some may have expected.
A dramatic decline in costs and rapid efficiency gains have turned U.S. shale, initially seen by rivals as a marginal, high cost sector, into a major player - and a thorn in the side of big OPEC producers.
Nimble shale drillers are now helping mitigate the nearly 70-percent slide crude price rout by cutting back output, but may also limit any rally by quickly turning up the spigots once prices start recovering from current levels just above $30.
While the worst oil downturn since the 1980s sounds the death knell for scores of debt-laden shale producers, it has also hastened the decline in costs of hydraulic fracturing and improvements of the still-developing technology.
While Deloitte auditing and consulting warns that a third of U.S. oil producers may face bankruptcy, leading shale producers say their ambitions go beyond just outrunning domestic rivals.
One reason shale producers can be so fleet-footed is the record backlog of wells that have already been drilled but wait to get fractured to keep oil trapped in shale rocks flowing.
Some warn that fracking the uncompleted wells can offer only a short-term supply boost and a sustained increase would require costly drilling of new wells and therefore higher prices.
Some analysts also warn resuming drilling quickly may prove hard after firms laid off thousands of workers and idled more than three-quarters of their rigs since late 2014.
And even scarred veterans of past boom-bust oil cycles are not sure what will happen once prices start to recover - during the last big upswing a decade ago, shale oil did not even exist.
http://www.reuters.com/article, February 29th, 2016
NOTES
1. a generation - a period of about 25 to 30 years, in which most human babies become adults and have their own children
2. a thorn in one’s side - someone or something that continually causes problems for you – бельмо на глазу
3. a death knell - a warning of the end of something – предвестник конца (гибели)
THE LABOUR MARKET
LEAD-IN
Answer the questions.
1. What is the labour market and when is it considered to be healthy or unhealthy?
2. What are the types of labour markets, according to their scope, location, etc.?
3. When is the labour market called “flexible”? What are its characteristics?
4. What is occupational flexibility? And contractual flexibility? What does the wage flexibility refer to? And geographical flexibility?
5. How can flexibility be encouraged? Is it necessary to bolster it?
6. What does the rate of unemployment measure and what essential information can it give?
7. What is NAIRU? Is it a fixed and reliable indicator? What is its role in the economy?
8. Can an economy have zero unemployment? Why? Why not?
9. What do high levels of unemployment result in?
10. What impact can operating at near full employment have on the economy?
11. What are the three types of unemployment?
12. What are the reasons for the different types of unemployment?
13. Is unemployment always a negative phenomenon?
ACTIVE VOCABULARY
| 1. labour market · healthy labour market · flexible labour market · tight labour market | рынок рабочей силы, рынок труда · благоприятная ситуация на рынке труда · гибкий, мобильный рынок труда · рынок труда с высоким спросом на рабочую силу при ограниченном предложении |
| 2. labour syn. labour force, workforce · labour flexibility/ mobility · labour costs | рабочая сила · мобильность рабочей силы · издержки на оплату труда |
| 3. to employ/ to hire ant. to fire to lay off employee employer | нанимать на работу ант. увольнять с работы уволить в связи с сокращением штата сотрудник, работник работодатель |
| 4. employment · conditions of employment · full-time/full employment · part-time employment · payroll employment · unemployment rate syn. rate of unemployment ant. employment rate · natural rate of unemployment (NAIRU) | прием на работу, занятость · условия найма/ условия труда · работа полный рабочий день или на полную ставку · работа неполный рабочий день или не на полную ставку · занятость по данным платежных ведомостей · уровень безработицы ант. уровень занятости · естественный уровень безработицы |
| 5. wage · average wage · minimum wage · wage inflation · wage rate · to set wages · to lift wages salary pay | заработная плата (рабочих) · средняя ставка зарплаты · минимальная зарплата · инфляция, вызванная ростом зарплаты · ставка зарплаты · устанавливать зарплату · повышать зарплату заработная плата (служащего) заработная плата |
| 6. competition · competitive · competitiveness · competitor syn. rival | конкуренция · конкурентоспособный · конкурентоспособность · конкурент |
| 7. skill · semi-skilled/skilled/unskilled labour · skilled trade · transferable skills · to apply skills qualification | квалификация, навыки · малоквалифицированная/ высококвалифицированная/ неквалифицированная рабочая сила · профессия, требующая квалифицированного труда · навыки широкого применения · применять навыки квалификация |
| 8. trade union | профсоюз |
| 9. indicate · indicator · indication | указывать, показывать, служить признаком · показатель · знак, признак |
| 10. perform · performance · underperformance of the economy, underperforming economy | исполнять, выполнять, осуществлять · показатель, параметр · слабая экономическая активность, функционирование экономики в условиях неполной занятости |
| 11. to contribute to | 1) способствовать, содействовать 2) внести вклад |
| 12. a rise in / growth in | рост |
| 13. income · disposable income | доход, поступления, выручка · располагаемый доход (т.е. после выплат налогов) |
| 14. frictional unemployment | временная безработица, связанная с переходом с одной работы на другую (фрикционная безработица) |
| 15. structural unemployment | структурная безработица |
| 16. seasonal unemployment | сезонная безработица |
| 17. cyclical unemployment | циклическая безработица |
| 18. demand for | спрос на |
| 19. benefit · to benefit from · beneficial · unemployment benefit | преимущество, привилегия, польза · извлекать выгоду из чего-либо · выгодный, благоприятный · пособие по безработице |
Exercise № 1
Pronounce the following.
cyclical unemployment; source; vice versa; consumption; disposable income; labour market; qualifications; minimum wage; zero percent unemployment; employee; to compete; competition; individual; authorized bodies; to quit; equality; postponement; work schedules; data; ageism; a monthly increase; shortage; to substitute; euro zone; inconsequential; to analyze; overhaul; innovative; eligibility
Exercise № 2
Exercise № 3
Go to
· Full Employment http://www.investopedia.com/video/play/full-employment/
· Participation Rate http://www.investopedia.com/video/play/tertiary-industry/
· Unemployment Rate http://www.investopedia.com/video/play/unemployment-rate/
· How Is Unemployment Rate Defined http://www.investopedia.com/video/play/how-unemployment-defined
Watch and listen.
Sum up the contents.
READING AND SPEAKING I
Exercise № 4
Exercise № 5
Exercise № 6
Exercise № 7
United workers of the world
Answer the questions .
1. What impact did globalization have on labour market?
2. What countries were the main driving forces of this transformation? What were the most dramatic consequences of their integration into the global labour pool?
3. What are the key labour market trends in developed economies? What have they resulted in?
4. How do knowledge indicators in emerging economies compare with those in rich countries? How will the situation change in the near future, according to the recent study by the McKinsey Global Institute?
5. What is the key labour market concern in industrialized economies? What is essential for further income growth?
6. What according to the author are the likely consequences of these labour market developments? What steps can governments take to reduce the negative effects?
Exercise № 8
Exercise № 9
Answer the questions.
1. What does Mr Abe see as a key to Japan’s sustainable growth?
2. What does he want to ensure by reforming the Japanese way of working?
3. What policy did Japanese companies choose after Japan’s asset bubble burst in the early 1990s and why?
4. What kind of workers belongs to a second tier and what differs it from the first one?
5. Why is it important to reform the Japanese labour market?
6. What views about work and employee-company relationship should Japan change?
7. What do labour market statistics during Mr Abe’s tenure show and what can they be attributed to?
Exercise № 10
Exercise № 11
Exercise № 12
to rise – подниматься, восходить, увеличиваться
to raise – 1) повышать, увеличивать; 2) вызывать; 3) мобилизовать, собирать (средства, финансы)
The Sun rises in the east. The government is raising the taxes.
Exercise № 15
Exercise № 16
III. ПЕРЕВОД СЛУЖЕБНЫХ СЛОВ
Exercise № 17
Yet – 1) в качестве наречия переводится на русский язык: до сих пор, пока еще, еще, пока, уже, все еще; 2) в качестве союза – тем не менее, но, но все же, и все же.
TEXT 1
Winners and losers
Never waste a good crisis
Many of the labour-market trends that are currently troubling rich countries were already apparent long before the financial crisis, though the bubble that preceded it helped to hide them and the recession that followed it accelerated them. “It has given employers the excuse to do what they wanted to do but had resisted before the crisis,” says Mr Reich, an American political commentator, who was Secretary of Labour under President Bill Clinton. “Many employers are substituting technology for people. A lot of us were looking for jobs to be displaced by technology a few years ago and were surprised it wasn’t happening faster. Employers didn’t want a reputation for firing when the jobs market was tight.”
Firms are relying more on part-time, contract and temporary workers who are inherently more flexible. In America last year, the number of part-time workers reached a new high of 19.7% of all employees. According to a recent survey of American firms by the McKinsey Global Institute, over the next five years 58% of them expect to use more part-time, temporary or contract employees.
The Economist, September 10th, 2011
TEXT 2
Where the jobs are
Despite high unemployment companies say they find it hard to hire people
Unemployment has reached record levels in many countries. Yet more than a third of employers around the world are still having trouble filling vacancies, according to a ManpowerGroup survey of nearly 40,000 employers in 41 countries. Workers in skilled trades (electricians, plumbers, bricklayers and so on) are in shortest supply, followed by engineers and sales people. Talent shortages are most acute in Asia, particularly in Japan where an ageing population is exacerbating the problem. Only in France has the proportion of employers struggling to find appropriate talent increased significantly since last year (from 20% to 29%). In Italy, by contrast, it has halved from 29% to 14%. Overall, employers are less concerned about the impact of skills shortages than they were in 2011.
This may be because companies are becoming more comfortable conducting business in an uncertain environment where talent shortages persist.
The Economist, May 29th, 2012
TEXT 3
TEXT 4
TEXT 5
Morning in America?
It has been no easy road getting here, and the path ahead looks rocky, but a real recovery seems to be developing for America's long-suffering workers. This morning, the Bureau of Labour Statistics released new data on American employment, which showed a third consecutive month of robust job growth. Where previous reports contained a hint of weakness here or there, the fundamentals of this report look almost uniformly strong.
Payroll employment rose by 227,000 jobs in February. That marked a third consecutive month with job growth over 200,000. Private-sector employment did even better. Private businesses have added over 750,000 jobs in just the last three months and 2.2m in the past year. February's report may actually be better than it looks. The latest release revised up job gains over the previous two months by 61,000.
Firms are adding workers across the economy. Manufacturing employment rose 31,000 in February and is up 227,000 over the last 12 months. Professional and business services continue to add labour at a rapid clip, including new temporary positions which indicate that further hiring may be on the way.
If there is a cloud to this silver lining, it is the reminder that America's economy remains quite far from where it ought to be. The 8.3% unemployment rate, while down sharply from a year ago, is still well above what economists consider to be the normal level. There are still nearly 13m unemployed Americans, and total employment is still just over 5m jobs short of the pre-crash peak.
Confidence in the American economy looks as good as it has in years, and is especially striking by comparison with the outlook across most of the world. If the recovery has taught us anything, however, it is to take nothing for granted.
The Economist, March 9th, 2012
NOTES
"Morning in America" is the common name of a political campaign television commercial featuring images of Americans going to work and a calm, optimistic narration that suggests improvements to the U.S. economy. The phrase "It's morning again in America" is used both as a literal statement (people are shown going to work), and as a metaphor for renewal.
TEXT 6
Generation jobless
TEXT 7
At Last, a Proper Recovery
TEXT 8
Heating up
Crunch time is approaching for Britain's labour market. Figures released today show that unemployment held steady at 5.5% in the three months to April, as the pace of job creation slowed. With joblessness now just half a percentage point above the Bank of England's estimate of its equilibrium, Britain's jobs boom, which has seen employment rise by 2m in five years, may be nearing its end.
That means growth in demand is beginning to show up in wage rises, rather than new jobs. Regular pay, excluding bonuses, is now growing at 2.7% annually in nominal terms - easily the fastest rate of growth since February 2009. Thanks to near-zero inflation, workers are enjoying their juiciest real pay rises since November 2007.
The key uncertainty is the outlook for productivity, which remains below its pre-crisis peak. Data on productivity are intermittent, but the latest reading showed output per hour worked growing at a dismal 0.3% annually. Wage rises are only sustainable if they reflect increased value-added by workers, rather than zero-sum competition between firms for workers. And competition for workers is heating up: after a long slump the number of openings per jobseeker is nearly back at pre-crisis levels. If recent pay growth is only the result of labour-market tightening, the bank may soon feel the need to stop the party (despite the current low inflation, which most observers continue to believe is a temporary blip induced by a one-off fall in the oil price).
The difficulty is that productivity growth is near-impossible to forecast. In the early days of the crisis the bank expressed confidence that weak productivity reflected firms sitting tight and holding on to idle workers rather than firing them, and that once demand returned, those workers would put their shoulder to the wheel again. But when the economy did pick up, this did not much happen. Instead firms went on a hiring spree. Since then, the bank has appeared less confident that its actions affect productivity, hinting that it is a supply-side issue, and is therefore unaffected by monetary policy.
Yet it could still be that weak productivity is linked to the demand side. One reason for the stagnation is capital-labour substitution: it has been so cheap to hire workers in Britain that firms have preferred to bring in new workers than invest in productivity-boosting machinery and technology. As strong demand and a tight labour market puts upward pressure on pay, this process could go into reverse. Firms will have a stronger incentive to invest and get productivity up than to hire workers at greater cost.
However, if this does not happen - and productivity continues to stagnate - Britons will feel the pain. The bank will be forced to raise rates to see off wage-driven inflation, and in doing so snuff out the recovery in real wages, just as mortgages get more expensive. And growth will stagnate, too, except insofar as the population grows.
Many employed Britons still want to work more hours. That might provide some additional slack and keep a lid on inflationary wage growth for a while. But the bigger constraint on inflation is probably fiscal policy.
The Economist, June 17th, 2015
Exercise № 19
Exercise № 20
International Trade
LEAD-IN
NOTES
1. World Trade Organization (WTO). WTO, the only global international organization dealing with the rules of trade between nations, was established on 1 January 1995.At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.
2. North American Free Trade Agreement (NAFTA). NAFTA is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. The agreement came into force on 1 January 1994 and encourages free trade between these North American countries. It superseded the Canada–United States Free Trade Agreement between the U.S. and Canada. NAFTA has two supplements: the North American Agreement on Environmental Cooperation (NAAEC) and the North American Agreement on Labor Cooperation (NAALC).
Answer the questions.
1. What is international trade and why is it important?
2. What makes it grow and spread very fast nowadays?
3. What is specialization in international trade?
4. What benefits does international trade give to the participants?
5. What part does FDI play for the recipient and the investor?
6. What is the difference between international trade and domestic trade?
7. What forms the basis of international trade?
8. When does a country post a trade surplus and in which case does it run a trade deficit?
9. What is known as “visible” and “invisible” trade?
10. What is the essence of the two theories concerning the level of control imposed on trade?
11. What protective measures do countries take and why?
12. When is a trade war likely to break out?
13. Who suffers more in trade wars and why?
14. What factors should complement the gains from trade?
ACTIVE VOCABULARY
| 1. trade · international trade syn. global trade · foreign trade · domestic trade · free trade area · merchandise trade syn. visible trade; trade in goods · invisible trade syn. trade in services · balance of trade · trade surplus · trade deficit syn. trade gap, shortfall · trade barriers · trade war | 1) торговля; 2) отрасль торговли, производства, промышленности; 3) профессия · международная торговля, мировая торговля · внешняя торговля · внутренняя торговля · зона свободной торговли · торговля товарами, экспорт и импорт товаров · торговля услугами · торговый баланс · положительное (активное) сальдо торгового баланса · дефицит (отрицательное сальдо) торгового баланса · торговые ограничения, торговые барьеры · торговая война |
| 2. multinational corporation | транснациональная корпорация |
| 3. assets assets and liabilities | активы активы и пассивы |
| 4. to invest · investment syn. capital spending · foreign direct investment (FDI) | инвестировать, осуществлять капиталовложения · инвестиции, капиталовложения · прямые зарубежные инвестиции (ПЗИ) |
| 5. expertise | опыт, знания, квалификация |
| 6. revenue · operating revenue · tax revenue | доход(ы) · доходы от основной деятельности, операционные доходы · налоговые поступления |
| 7. factors of production syn. inputs | факторы производства |
| 8. to embody | 1) включать, делать составной частью; 2) заключать в себе |
| 9. to export · exports · exports of goods and services · exporter | экспортировать, вывозить · 1) экспорт, экспортные поставки, объем экспорта;2) статьи экспорта · экспорт товаров и услуг · экспортер |
| 10. to import · imports · visible imports syn. imports of goods · invisible imports syn. imports of services · importer | импортировать, ввозить · 1) импорт, импортные закупки, объем импорта; 2) статьи импорта, ввезенные товары · видимые статьи импорта, импорт товаров · невидимые статьи импорта, импорт услуг · импортер |
| 11. to hinder syn. to hamper | мешать , препятствовать |
| 12. to protect · protection · protectionism · protective measures | защищать, охранять, предохранять · 1) защита, охрана; 2) протекционизм · протекционизм · протекционистские меры |
| 13. to ensure | обеспечивать, гарантировать |
| 14. tariff · to impose a tariff · to raise a tariff ant. to reduce a tariff · to abolish a tariff syn .to eliminate/ lift a tariff · non-tariff barriers | тариф · вводить тариф · повышать тариф · отменить тариф · нетарифные барьеры, ограничения |
| 15. subsidy · to scrap a subsidy · to subsidize | субсидия , дотация · отменить субсидию · субсидировать |
| 16. quota · export/import quota · to lift a quota | квота, норма, доля · экспортная/импортная квота · отменить квоту |
| 17. restraint · restraint of trade · export restraints · wage and price restraints | ограничение, сдерживание · ограничение торговли · экспортные ограничения · сдерживание роста заработной платы и цен |
| 18. to retaliate · in retaliation for | принять ответные меры, отплатить тем же · в ответ на (что-либо) |
| 19. to complement | дополнять |
| 20. dumping | демпинг, ввоз по заниженным ценам |
| 21. to restrict · restriction (on) · to impose restrictions ant. to lift/remove restrictions · restriction of trade syn. restraint of trade · currency restrictions · quantitative restrictions | ограничить · ограничение, (pl.) ограничительные меры · вводить ограничения · ограничение торговли · валютные ограничения · количественные ограничения |
Exercise № 1
Pronounce the following.
imports; to import; exports; to export; to flourish; crucial; merchandise; exchange; techniques; expertise; surplus; assets; subsidy; retaliation; specialization; revenue; to complement; legal; deficit; voluntary export restraints; to ensure; vulnerable; protectionism; avalanche; utilization; entrepreneur; macroeconomic scenario; access; biofuel; wheat; drought; liaison; bureaucracy; countervailing; provisional; repercussion; essence; recipient
Exercise № 2
Exercise № 3
Exercise № 4
Exercise № 5
Go to
· International Trade http://www.investopedia.com/video/play/what-international-trade/
· The balance of Trade http://www.investopedia.com/video/play/balance-trade/
· Free Trade http://www.investopedia.com/video/play/free-trade/
· Protectionism http://www.investopedia.com/video/play/protectionism/
Watch and listen.
Sum up the contents.
READING AND SPEAKING I
Boxed in
Global trade has turned down sharply this year. The outlook is pretty bleak, too
Trade-watchers often look to the oceans to gauge activity. Bustling docks and harbours mean importers and exporters are busy, and trade figures are likely to be strong. At the end of 2011 data from big ports started to turn choppy, fuelling fears of a slowdown that has come to pass. The OECD reports that exports fell by over 4% in the second quarter of 2012 in Britain and India; Russia and South Africa lost more than 8%. That is particularly bad news for places like Singapore and Hong Kong, which are important trade hubs; open eurozone countries like Ireland and Belgium are also highly exposed.
The obvious cause of falling trade is the global economic slowdown. Since exports are sales to foreigners, they tend to weaken when buying power is low. That means trade often tracks global GDP quite closely. At a more granular level, too, the patterns of trade match the fortunes of economies. Since 2011, imports into the stagnant European Union have fallen by 4.5%. In contrast the oil-rich Middle East has increased imports by 7.4%.
If the global economy were the only factor in determining trade, a pick-up in world output would translate automatically into rising trade. The IMF, for example, thinks that trade will grow by 5.1% in 2013 on the back of a strengthening economy. But the fund's predictions assume that looser policies in the euro area and emerging markets will be successful. If that turns out to be too optimistic then growth, and trade, could undershoot its forecasts. The latest shipping data hold out little hope for a rapid rebound. A survey reported by Lloyd's List on September 5th showed that container volumes from Asia to Europe plunged by 13.2% in the year to July.
What's more, trade does not track business cycles perfectly. Trade has generally grown faster than GDP in recent years, rising from 22% to 33% of world GDP between 1996 and 2008. Its downturn this year has been more pronounced than that of the world economy. That suggests other factors may be at work beyond the pace of global growth.
One candidate is decreased availability of trade finance. Businesses that operate internationally rely heavily on banks. Take exporters. Once they have bought raw materials and other inputs, they must make their products before exporting them to a destination country. They may deliver them to a final buyer before receiving payment. This creates a lag between incurring costs and receiving revenues, a gap bridged by short-term trade-finance loans.
Increased protectionism may also be starting to drag on trade. In the early phases of this crisis, it seemed that protectionism was one thing the world did not have to fret about: the lessons of the 1930s (avoid trade wars at all costs) had apparently been learned. But the number of new trade disputes is ratcheting up to a level that is beginning to look worrying. Argentina is involved in a host of arguments. America, India and China are embroiled in a spat over steel. On September 4th Brazil said it would raise tariffs on 100 products. The risk, according to Jagdish Bhagwati of Columbia University, is that commitment to free trade could flag.
Even if a new round of protectionism can be avoided, ambitions to liberalise trade further are disappointingly limited. The 11-year-old Doha round of global trade negotiations, which could add 0.5% a year to global GDP by opening up new markets, is as good as dead. In its place a tangle of regional deals has emerged. The hope is that the most promising elements of Doha can somehow be revived in a new deal. An agreement on "trade facilitation" (cutting red tape at borders) would more than offset the petty protectionism of some G20 members. But the tide of support for free trade is ebbing.
The Economist, September 8th, 2012
NOTES
1. The International Bank for Reconstruction and Development ( IBRD ) – Международный банк реконструкции и развития (МБРР), главным образом кредитует развивающиеся страны на рыночных условиях под правительственные гарантии.
2. Lloyd ’ s List – “Лист Ллойда”: ежедневная газета, в которой публикуются передвижения судов во всем мире.
3. Doha round – Первый раунд многосторонних торговых переговоров в рамках ВТО получил название Доха раунд по имени столицы Катара, где проходила Четвертая конференция министров стран-членов ВТО в ноябре 2001г., на которой было принято решение об открытии этого раунда. После июля 2005г. в переговоры включена тема упрощения процедур торговли.
Answer the questions.
1. What serves as a gauge of activity for trade watchers?
2. What is the situation in trade at the end of 2011 and what is its cause?
3. What is the correlation between trade and global economy?
4. What are the forecasts for 2013 and what are they based on?
5. What are the threats to trade in the current phase of the crisis?
Exercise № 6
Exercise № 7
Exercise № 8
Exercise № 9
Exercise № 10
Goodbye Doha, Hello Bali
The Doha trade talks are dead. Replace them with a rapid new deal, called the "Global Recovery Round"
Trade and growth go hand in hand. When the economic crisis first hit in 2008, world trade and growth collapsed together. In 2009 both recovered, and did reasonably well until this year, when both slipped again. Cutting tariffs and red tape would boost trade, and support the faltering recovery. This should spur efforts to replace the failed Doha trade talks with a new effort to do a multilateral deal.
The aims of the Doha round, launched by the World Trade Organisation (WTO) in 2001, were laudable. It deliberately put poor countries first, placing particular priority on improving the access of their farmers to rich-country markets. It was ambitious too, covering not only trade in manufactured goods, agriculture and services, but also a host of things more indirectly related to trade (antitrust, intellectual property and foreign-investment rules, for example). According to the Peterson Institute, a think-tank, the potential gains were around $280 billion a year. Its failure is a tragedy.
The villains are powerful lobbies, notably in agriculture, such as America's cotton and sugar industries and Japan's rice farmers and fishermen. But there were also two structural problems with Doha. One was the number of countries. At the end of the first world-trade talks in 1947, 23 countries were involved. When Doha started, 155 were. Second, the idea was to achieve a grand bargain in which agriculture, manufacturing and services would all be liberalised. But reaching agreement on some areas was so difficult that the WTO’s mantra ─ "Nothing is agreed until everything is agreed" ─ proved fatal.
After many missed chances to conclude a deal, an "absolute deadline" was set for 31 December 2011. That too, was missed. Since then, protectionism has been intensifying. Argentina has lodged complaints against America over lemons and beef and against Spain over biofuels. Altogether, tit-for-tat actions mean that new restrictions cover 4% of global trade, more than Africa's exports. On the plus side, disputes over these are being adjudicated by the WTO system.
With Doha paralysed, regional alternatives to a multilateral deal are springing up. They are not all bad, but regional deals tend to benefit insiders at the expense of outsiders, so that global gains will be achieved only if they can be fitted together.
Many experts think that instead of allowing the Doha round to be replaced with a patchwork of regional deals, the WTO’s boss, Pascal Lamy, should close it and resurrect the best bits in a "Global Recovery Round". He should drop the all-or-nothing "single undertaking" rule that helped kill Doha. Instead, talks would be broken up into small chunks and allowed to progress independently of one another. Negotiations would be open, so that any member could leave or join. Some deals, therefore, would not include everyone. But another of the WTO’s guiding principles ─ the "most-favoured-nation" clause ─ must apply. This rule means that any deal between a smaller group must be applied to all WTO members, even if they do not reciprocate, WTO-brokered regionalism would thus lower trade barriers for all.
The Global Recovery Round should focus on manufacturing and services. Manufacturing represents around 55% of total trade. There is much to be gained: tariffs on cars, buses and bicycles are still high. Even low-tariff countries maintain a selection of high ones. In America ski boots attract a zero tariff, but golf shoes can face a 10% rate, and steel-toe-capped boots 37.5%. Services, which account for only 20% of world trade but are more important on a value-added basis, have hardly been liberalised at all.
The Economist, September 8th, 2012
*laudable – похвальный, достойный похвалы
** villain – злодей, негодяй, преступник
*** to spur побуждать, поощрять
****to resurrect – возрождать
Answer the questions.
1. What happened to trade and growth when the economic crisis hit the world in 2008?
2. What were the aims of the Doha round and why did the talks fail?
3. What appeared as an alternative to a multilateral deal?
4. What is the drawback of regional deals?
5. Why is a Global Recovery Round considered by experts to be a better alternative?
6. What should the Global Recovery Round focus on?
Exercise № 11
Exercise № 12
Exercise № 13
Suggest – 1) предлагать, советовать; 2) предполагать, высказывать предположение; 3) означать, говорить, наводить (на мысль), давать возможность (основание) предположить
Exercise №14
Pattern – 1) образец, пример;2) путь, ход / направление развития, динамика, линия поведения;3) характерное развитие, тенденция, характер,4) рисунок, узор;5) кривая (графика);форма, схема, шаблон, модель;5) система;6) формула;7) порядок действий.
consumption pattern - структура / модель потребления
employment pattern - структура занятости
distribution pattern - схема распределения
billing pattern - порядок оплаты (счетов)
delivery pattern - организация поставок
competitive pattern - тип конкуренции
service pattern - система обслуживания
patterns of ownership - формы собственности
Translate the following sentences into Russian.
1. Consumer spending follows a regular seasonal pattern.
2. The store has set the pattern for others in customer service.
3. Economic history shows that the economy never grows in a smooth and even pattern.
4. Please indicate the colours and patterns of textiles that can be delivered immediately from stock.
5. A new and extensive analysis shows a pattern of risky lending that could generate $20 billion in losses and harm thousands of the nation’s most vulnerable borrowers.
6. Earlier this year, as the economy began to sputter, the сhairman of the Federal Reserve was asked about the historical evidence that recoveries from financial crises were always painfully slow. The Fed chairman responded that the pattern was clear but the reasons were not.
7. Germany’s economy is often more volatile than that of neighbours like France. Its specialization in investment goods, cars and other expensive consumer products makes the upswings higher but downturns sharper. That pattern may now be broken. As Europe slides, Germany is likely to sink less than the others.
8. New trade patterns reinforce the downward pressure on prices.
9. Consumption patterns are one of the most important drivers of development patterns in the industrialised world.
10. Changes in employment patterns may reflect the fact that the world of work is characterised by intense competition and constant change, in which both employers and employees face increasing risk and uncertainty.
TRANSLATION SKILLS
Exercise № 15
II. ПЕРЕВОД СЛУЖЕБНЫХ СЛОВ
Exercise № 16
For – 1) в качестве союза переводится на русский язык: так как, потому что, ибо;2) в качестве предлога – а) за, ради;б) для;в) в течение, на какой-либо срок;г) из-за, вследствие;д) за, вместо;и др.;
for all – несмотря на, вопреки, при (всем)…, чтобы… не…;
for one – со своей стороны;
for one thing – во-первых, прежде всего;
but for – если бы не, кроме, без, не считая, за исключением, если не считать.
Exercise № 17
But – 1) в качестве предлога переводится на русский язык: кроме, за исключением;2) в качестве союза – а) но, а, однако, тем не менее; б) если не, как не, чтобы не;3) в качестве наречия – только, лишь;
all but – 1) почти, едва не…;2) все кроме, за исключением;
anything but – далеко не; все что угодно, только не;
but for – если бы не, кроме, без, не считая, за исключением, если не считать;
can but – а) во всяком случае, по крайней мере; б) только;
cannot but – не может не.
Translate the following sentences into Russian.
1. Financial markets have calmed; Asia is showing signs of improvement; and the US economy continues to speed away. These positive developments are the beginning of a global economic revival. But the road to recovery may not be a smooth one.
2. “Spain is doing a lot of the things Germany did ten years ago, but in a much shorter time span and tougher global conditions,” chief economist at Morgan Stanley says, pointing to falling labour costs, rising exports and booming Spanish car factories.
3. Plenty of people on Wall Street and in Corporate America have all but given up on seeing the rapid gains of productivity that the US witnessed in the late 1990s.
4. Some experts praised Russia’s development, saying it was anything but sluggish or socialist.
5. Trade links enabled developing economies simply to join existing supply chains rather than build an entire industry from the ground up. But for those connections, the Chinese miracle might have been much less miraculous.
6. At a time when markets seem to deliver nothing but bad news, the expectation of bumper harvest in the northern hemisphere is a rare source of cheer.
7. European Central Bank interest rate cut shows economic recovery anything but secure.
8. In all but the rarest instances, tariffs hurt the country that imposes them, as their costs outweigh their benefits.
9. We can but hope that economy will improve this year.
10. The point is that economic reforms cannot be limited to the national stage for the same reason that economic agents cannot but operate beyond national borders.
11. There are those who really believe putting Asda into the Wal-Mart network will result in anything but success.
Exercise № 18
Причастия в функции союзов вводят условные, причинно-следственные и уступительные придаточные предложения. На русский язык они переводятся следующим образом: provided / providing , granted / granting ─ при условии, принимая во внимание;supposing , assuming ─ если, допустим, предположим, что;seeing ─ поскольку, принимая во внимание, учитывая, ввиду того что.
Причастия в функции предлогов стоят перед существительными и переводятся следующим образом: given ─ при наличии, учитывая, если учесть;failing ─ при отсутствии, в случае отсутствия, ввиду отсутствия, за неимением;regarding , considering , respecting ─ относительно;following ─ вслед за, после;barring ─ кроме, за исключением, исключая, если исключить, если не.
Given , failing , barring с относящимися к ним словам могут переводиться условным придаточным предложением.
Exercise № 19
При переводе таких предложений сказуемое, выраженное глаголами to see , enjoy,как правило, переводится словами “отмечалось”, “произошло”, “наблюдалось”, а подлежащее английского предложения становится дополнением или обстоятельством места. Если за таким сказуемым идет дополнение в виде существительного, обозначающего “увеличение” или “уменьшение” чего-то, то в этом случае глагол опускается, а сказуемым становится это дополнение.
Last week saw a further decline in interest rates. На прошлой неделе произошло дальнейшее снижение процентных ставок.
Government spending saw a steady growth in the first three months. В первом квартале государственные расходы устойчиво росли.
В некоторых словосочетаниях глагол enjoy может переводиться словами “обладать”, “иметь”, “пользоваться”.
TEXT 1
An Island of Traders
Trade is just as important today as it was in the past, not least because arguments about it pervade the heated debate about Britain’s EU membership. In 2012 the sum of British goods and services traded was £1 trillion ($1.5 trillion). At around 70% of GDP this is well above the OECD average, and the share of trade in the American economy (around 25%). Although some trade more – in Germany the ratio is 90% – Britain is comparatively open.
The biggest chunk of trade is in goods, which make up 80% of global trade and 62% of Britain's exports. Today's bestsellers include machines, pharmaceuticals and cars. When added to the next biggest – oil – these account for half of Britain's exports. But Britain still buys more than it sells. In 2012 car exports were worth £21 billion, with Land Rovers and Minis strong sellers, though cars worth £23 billion were bought from abroad. And while £40 billion of oil went overseas, £54 billion came in as imports. In total, the deficit ran to £106 billion in 2012.
Britain's trade with other European countries is vital: seven of the ten main exports destinations are also in the EU. But non-EU trade is becoming more significant. The four leading foreign homes for BMW's Mini, made in Oxford, are America, Germany, China and France. That pattern explains why the export of goods to EU and non-EU members is almost identical. The EU’s 50% share of British exports points to a relatively fast erosion: ten years ago it was above 60%.
At country level, trading partners form three groups. The leading destination for British exports is America and there is a large trade surplus with Ireland. France sits in the middle. As both a big seller to and buyer from Britain, trade is large but balanced. The final group includes Germany, the Netherlands and China, where the trade gap creates Britain's biggest deficits.
| « |
Worries about persistent trade shortfalls are offset a little by services surpluses. Banking, law firms, IT and other consultancies are selling well in non-EU countries. And because these countries are growing fastest, the services surplus is getting bigger. This means that Britain's EU trade is being nudged further down the list. Yet the fact that links with the Americas and Asia are becoming closer is just a return to the commercial liaisons of the past.
The Economist, May 18th 2013
TEXT 2
TEXT 3
TEXT 4
Chasing the anti-China Vote
The American government lodged a trade complaint on September 17th, alleging that China unfairly subsidises car-part exports.
The American automotive-parts industry which supplies carmakers with everything from seats and bumpers to axles and electronic devices is big, with exports of close to $60 billion in 2010. The industry is a major employer, particularly in Indiana, Kentucky, Michigan, Missouri, Ohio, South Carolina and Tennessee. But it has endured years of gradual decline. In 2001, five of the top ten global firms were American; by 2009 just two made that list. The first years of the credit crunch hit employment especially hard, with the American industry shedding around 200,000 jobs ─ some 30% of its total - between 2007 and 2009.
The complaint relates to "export bases" set up in 12 Chinese municipalities. In these areas, America's complaint alleges, firms were handed $1 billion in government grants, tax breaks, and subsidised loans between 2009 and 2011, on the condition that they exported the car parts they produced.
The complaint has a good chance of being upheld. The WTO has rules against export subsidies for manufactured products, and interprets them broadly. Allowing for appeals, a final ruling might take a year or so.
China lodged its own complaint at the WTO against America on 17th September. Many Chinese goods face "countervailing" duties when they are shipped to America. These measures, applied to paper, steel, tyres and chemicals among others, are designed to offset China's subsidies. China reckons they go too far. Recent cases suggest China might well win too.
Does a trade war beckon? Probably not. This tit-for-tat of complaints against existing trade barriers may be causing headaches for the WTO’s lawyers, but it is better than the alternative, a fight in which countries put up new barriers. An optimistic view would be that a flurry of WTO disputes would actually reduce protectionism, unclogging trade channels and reassuring the majority of Americans who said that their country's overall trade deficit with China was a "very serious problem”.
A full-scale trade war over car parts is also unlikely for another reason. American firms are having growing success shipping auto parts to car-mad China, exporting $1.3 billion-worth in 2010.
The Economist, September 22nd, 2012
TEXT 5
NOTES
The Office for Budget Responsibility – Управление по контролю за исполнением бюджета
TEXT 6
Fears of a Hard Landing
China is routinely accused of exporting too much. Its foreign sales far exceed its foreign purchases. This chronic surplus angers many.
But this month brought two intriguing breaks to the routine. In March three of China's biggest trading partners - Japan, the EU and America - complained that China was exporting too little. They brought a case at the WTO alleging that China was unfairly restricting its exports of molybdenum and 17 "rare earths" used in the manufacture of many high-tech goods.
The other novelty arrived when China's customs bureau reported a Chinese trade deficit. At $315 billion in February, the imbalance was bigger than any deficit on record - it was bigger even than many of China's monthly surpluses.
The deficit has fuelled one fear and one hope. The fear is that China's economy will slow sharply, hobbled by declining exports to crisis-racked Europe and a rising bill for commodities. The hope is that China is rebalancing, moving away from an economic model reliant on foreign demand.
It is true that China's weak exports are contributing to a slowdown in the broader economy. China's industrial production grew by 11.4% in January and February, compared with 2010, much slower than its normal pace of about 15%. But the prospects for global growth are brightening, suggesting that China's exports have bottomed out. And the slowdown in China's economy has been matched by a helpful fall in inflation. That gives China's government some scope to stimulate demand.
The Economist, March 17th, 2012
TEXT 7
TEXT 8
TEXT 9
Made in Britain
Exercise № 20
Exercise № 21
Answer the questions.
1. How is competition defined by economists? Why is it considered to be the basis for free market economy?
2. What is direct/indirect competition?
3. What impact does competition have on a) businesses b) consumers c) economy?
4. What are the sources of sustainable competitive advantage a business can exploit?
5. How can companies cope with the pressure created by reduced prices?
6. What is a price war? Are there any winners or losers?
7. What are the non-price competition methods and tools?
8. Which is the most/least competitive market structure?
9. In which form of market structure is price the main factor for success in competition?
10. In which market structure do producers have the most market power?
11. What is a price-taker?
12. What is the difference between oligopoly and oligopsony?
13. What does it take to become a market leader?
14. What market players can be called a market challenger and a market follower?
15. What are the firms that make products and/or services for specific demand of customers which are not met by otherwise available products?
ACTIVE VOCABULARY
| 1. to compete · competitor syn. rival · would-be/ potential competitor · competition (strong, stiff, severe, fierce, tough, cutthroat) · [non]price competition · [im]perfect competition · monopolistic competition · competitive · competitive advantage syn. (competitive) edge · competitiveness · to beat a competitor · to undercut / undersell a competitor · withstand / fend off competition · to meet with/ encounter/ face competition | конкурировать , соревноваться · конкурент · потенциальный конкурент · конкуренция (сильная, высокая, жесткая, ожесточенная) · [не]ценовая конкуренция · [не]совершенная конкуренция · монополистическая конкуренция · конкурентный, конкурентоспособный · конкурентное преимущество · конкурентоспособность · победить конкурента · продавать по более низким ценам, чем конкурент · выдерживать, отражать конкуренцию, противостоять конкурентам · сталкиваться с конкуренцией |
| 2. to allocate · allocation | выделять, распределять, ассигновать · выделение, распределение, ассигнование |
| 3. to substitute (for) · substitute (n) · substitution | заменять, замещать, использовать вместо · заместитель, замена, заменитель · замена, подмена, замещение |
| 4. cost (s) · cost leadership · cost advantage | стоимость; затраты, издержки (мн) · преимущество за счет экономии на издержках · ценовое преимущество, экономический эффект |
| 5. profit margin | маржа прибыли (разница между себестоимостью и ценой продажи) |
| 6. to absorb | занимать, захватывать, поглощать, впитывать |
| 7. target market · target customer | целевой рынок · целевой потребитель, потенциальный клиент |
| 8. differentiation · product differentiation | индивидуализация продукции или услуг (придание продукту характеристик, отличающих его от аналогичной продукции других фирм) · расширение номенклатуры, ассортимента продукции (с выходом за пределы отрасли);внедрение модификаций продукции |
| 9. value-for-money | выгодная сделка, качество по разумной цене, хорошее соотношение цены и качества |
| 10. superior ant. inferior | превосходный, превосходящий, лучший ант. недоброкачественный, уступающий |
| 11. monopoly | монополия, единовластие, исключительное право |
| 12. oligopoly | олигополия (рыночная ситуация, характеризующаяся ограниченным числом крупных фирм) |
| 13. oligopsony | олигопсония ( ограниченное кол-во покупателей при значительно большем числе продавцов) |
| 14. monopsony | монопсония ( рыночная ситуация, в которой многим конкурирующим продавцам противостоит единственный покупатель) |
| 15. price-taker | экономический агент, не оказывающий влияния на цены на рынке |
| 16. to charge a price | назначать цену |
| 17. to command a premium price | продаваться по цене выше номинала |
| 18. price discrimination | ценовая дискриминация |
| 19. price fixing | ценовой сговор |
| 20. price war | ценовая война |
| 21. unfair business practices | методы нечестной конкуренции |
| 22. to deal in | торговать, проводить операции |
| 23. barrier to entry | входной барьер, барьер для доступа на рынок |
| 24. to impede · impediment | препятствовать, затруднять, мешать · препятствие, помеха |
| 25. to jokey (for) | вести борьбу (за), конкурировать |
| 26. market leader · market challenger · market follower | лидер рынка; · второй по популярности продукт на рынке; компания, конкурирующая с лидером рынка; · фирма в отрасли, которая проводит политику следования за рыночным лидером; такая фирма предпочитает сохранять свою рыночную долю, не принимая рискованных решений |
| 27. runner-up | участник состязаний |
| 28. counterfeit | подделка, фальсификат, контрафактное изделие |
| 29. niche · to niche · niche (adj) · market nicher | ниша, незанятый сегмент рынка; рынок сбыта · искать / находить нишу на рынке · нишевой, узкоспециализированный · нишевой игрок рынка |
| 30. to conform (to) | соответствовать, согласовывать |
| 31. antitrust laws/regulation | антимонопольное законодательство , регулирование |
Exercise № 1
Pronounce the following.
to compete; rival; direct competition; substitute; identical; expenditure; to absorb; differentiation; premium price; superior; fierce; giant; feud; catalogue; niche; ratio; diversification; to vary; variable; antitrust regulators; oust; to launch / to relaunch; frugal; target; ultra-low; prestige; detrimental; to cannibalize; monopoly; oligopoly; international alliances; ubiquity; paradigm; technique.
Exercise №2
Go to
· Competition and Market Structure http://www.econedlink.org/interactives/EconEdLink-interactive-tool-player.php?iid=208
· Perfect Competition http://www.investopedia.com/video/play/perfect-competition-0/
· Monopolistic Competition http://www.investopedia.com/video/play/monopolistic-competition/
· Competitive Pricing http://www.investopedia.com/video/play/competitive-pricing/
Watch and listen.
Sum up the contents.
READING AND SPEAKING I
Answer the questions .
1. How do emerging market multinationals compare with their counterparts from the developed world in terms of revenues / economic growth?
2. What, according to a BCG study, accounts for the recent robust growth of emerging market multinationals?
3. What are the main challenges faced by emerging markets after the crisis?
4. What countries do most challengers originate from?
5. What industries and sectors are the challengers most successful in?
6. What, according to the author, is the evidence of the emerging challengers’ growing footprint?
READING AND SPEAKING III
NOTES
1. Value range - in the United Kingdom, it is common practice for retailers to have their own value brand in an effort to compete on price. Tesco's value brand was originally launched in 1993 as Tesco Value, with distinctive blue-and-white striped packaging The original Tesco Value brand had been launched in the midst of a supermarket price war, and targeted a low price point, with cans of beans costing 3p a can and loaves of bread for 7p.
2. Code of Practice - a set of written regulations issued by a professional association or an official body that explains how people working in a particular profession should behave – Кодекс профессиональной этики
3. Green Shield Stamps - a British sales promotion scheme that rewarded shoppers with stamps that could be used to buy gifts from a catalogue or from any affiliated retailer. The scheme was introduced in 1958 by Richard Tompkins.
4. The National Association of Convenience Stores (NACS), founded on August 14, 1961, is an international trade association representing more than 2,100 retail and 1,600 supplier company members. NACS member companies do business in nearly 50 countries worldwide, with the majority of members based in the United States. The association serves the convenience and fuel retailing industry by providing industry knowledge, connections and advocacy to ensure the competitive viability of its members' businesses. NACS defines a convenience store as a retail business that provides the public with a convenient location to quickly purchase a wide variety of consumable products and services, general food and gasoline.
5. Marmite is something causing a strong feeling of either liking or disliking.
6. The story of David and Goliath can be found in First Samuel 17 of the Bible. It tells the story of the giant Goliath, a nine-foot soldier from Gath, who boasted he could beat any individual soldier in the Israelite army. Nobody in the army dared to take him on - except David, a shepherd boy who believed strongly in God. "The Lord who delivered me from the paw of the lion and from the paw of the bear, will deliver me from the hand of this Philistine," David said. King Saul wanted to arm David with a sword and armor, but David refused, saying his strength came from God, not from weapons. All he brought to the battlefield was a sling and a stone. Of course, David's expertly flung stone nailed Goliath in the head and killed him.
Exercise № 4
Explain or paraphrase the following:
· to make the news
· part of the fabric of daily life
· the business model "stack 'em high, sell 'em low"
· to negotiate bargains
· to come under scrutiny
· a game-changing move
· to cement one’s dominance
· an early adopter of Green Shield Stamps
· David and Goliath battle
· to have roots in smth
· to take one’s eye off the ball
· clone towns
· on the flip side
Exercise № 5
Exercise № 6
Exercise № 7
Gain( s) – 1) прирост, увеличение;2) прибыль, доходы;3) выгода
productivity gains – рост производительности
I. МОДАЛЬНЫЕ ГЛАГОЛЫ
CAN, MAY, MUST
Помимо своих основных значений, эти модальные глаголы могут выражать предположение, основанное на той или иной степени уверенности. Самая сильная степень уверенности выражается модальным глаголом can, послабее - must, и самая слабая степень уверенности передается глаголом may.
Can – 1. Основные значения: а) способность или умение совершить действие; б) возможность совершить действие; в) разрешение или запрещение. 2. В значении предположения can переводится словами «возможно», «может быть». Его отрицательная и вопросительная формы выражают сомнение или удивление и переводятся словами «не может быть, чтобы»; «неужели» соответственно.
A closer look at the figures suggests that the shift in economic power from West to East can be exaggerated.
Более внимательный анализ данных дает основание предположить, что смещение центра экономического влияния с Запада на Восток, возможно, преувеличено.
Could – передает меньшую степень уверенности в предположении или сомнении.
May – 1. Основные значения: а) возможность совершить действие; в) разрешение или запрещение. 2. В значении предположения may переводится словами «возможно », «может быть ».
The dollar continued to rise for the first three weeks of the year but then the tide turned: since January 20th, the currency has fallen by 3.8%. The main reason may be a perceived shift in Fed policy.
На протяжении первых трех недель этого года курс доллара продолжал расти, но затем в этой тенденции произошел перелом, и с 20 января курс доллара уже снизился на 3,8%. Возможно, основной причиной стало ожидаемое изменение политики ФРС.
Might – указывает на меньшую уверенность в предположении.
Кроме указанных значений модальные глаголы could и might могут выступать в качестве вспомогательных глаголов в сослагательном наклонении.
Government spending and investment could boost domestic demand, but governments in the euro zone remain committed to a course of austerity.
Государственные расходы и инвестиции могли бы стимулировать рост внутреннего спроса, но правительства стран еврозоны по-прежнему привержены курсу на ограничение бюджетных расходов.
Модальные глаголы can, could, may и might могут употребляться в сочетании со словом well, означающим «вполне», «с успехом».
A price of $50 a barrel may well be sustainable.
Цена нефти в 50 долларов за баррель вполне может быть устойчивой.
Must - 1. Основное значение: долженствование. 2. В значении предположения must переводится словами «должно быть», «вероятно», «по всей вероятности».
Shareholders must have voted against the deal.
По всей вероятности, акционеры проголосовали против этой сделки.
В значении предположения со всеми этими модальными глаголами могут употребляться различные формы инфинитива. Perfect Infinitive относит действие к прошедшему времени, а Continuous Infinitive – к текущему моменту.
The improvement in imports suggested lackluster Chinese domestic demand might be recovering.
Такое увеличение объемов импорта говорит о том, что вялый внутренний спрос в Китае, возможно, повышается.
Japan may have brought in record-high coal imports last year, but its consumption is minuscule compared to China.
Возможно, в прошлом году Япония и завезла в страну рекордно высокий объем импортного угля, но его потребление ничтожно мало по сравнению с потреблением Китая.
Exercise № 8
Exercise № 9
Should – может 1) выражать долженствование в плане совета или пожелания (переводится словами «должен», «следует», «следовало бы», «нужно», «надо бы», «надо было»); 2) вводить придаточное условия (переводится словами «если», «если же», «если все же»); 3) употребляться в придаточных предложениях с сослагательным наклонением, стоящих после глаголов recommend , suggest , insist и т.п. и словосочетаний it is important ( desirable , strange , natural , etc .), при этом should несет чисто грамматическую нагрузку и на русский язык никак не переводится; 4) выражать предположение с большой степенью уверенности (переводится словами «вероятно», «должно быть», «по всей вероятности», «скорее всего»).
Exercise № 10
Would – может выражать 1) повторяющееся действие в прошлом (переводится глаголом в прошедшем времени); 2) предположение (переводится словами «вероятно», «очевидно», «скорее всего», «наверное»); 3) сослагательное наклонение; 4) (отрицательная форма) «никак не», «не хотел(а)».
II. ПЕРЕВОД СЛУЖЕБНЫХ СЛОВ
Exercise № 11
Even as – как раз тогда, когда; тогда, когда; даже при
Even though - хотя
Even if – даже если
Even so – несмотря на, тем не менее, все же
Exercise № 12
Well + глагол – хорошо, вполне
Well + модальный глагол – вполне, с успехом
Well + наречие – значительно, очень, довольно
Well after – значительно позже
Well before – задолго до
Well above/ over/ ahead – намного больше, намного превышающее
Well below/ beneath – намного меньше, намного ниже
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TEXT 6
Big switch
TEXT 7
NOTES
1. Blue Ocean Strategy - a book published in 2005 and written by W. Chan Kim and Renée Mauborgne, professors at INSEAD and co-directors of the INSEAD Blue Ocean Strategy Institute. Based on a study of 150 strategic moves spanning more than a hundred years and thirty industries, Kim & Mauborgne argue that companies can succeed not by battling competitors, but rather by creating ″blue oceans″ of uncontested market space.
2. Red oceans are all the industries in existence today – the known market space, where industry boundaries are defined and companies try to outperform their rivals to grab a greater share of the existing market. Cutthroat competition turns the ocean bloody red.
3. Silicon Valley in the southern San Francisco Bay Area of California, is home to many start-up and global technology companies. Apple, Facebook and Google are among the most prominent. It’s also the site of technology-focused institutions centered around Palo Alto's Stanford University – Кремниевая Долина .
TEXT 8
Failure to adapt to market
In fashion, everyone knows that you're only as good as your last season.
But now, you also have to be fast and adaptable, which is something many Canadian retailers like Danier Leather , Laura , Smart Set and Jacob haven't been able to do.
In Canada, many retailers had a "great thing going for years," according to Farla Efros, the president of HRC Advisory, a retail consulting firm. There wasn't much competition and the economy was stable.
But that all changed with the recession and the onslaught of international competition. An influx of fast-fashion brands, combined with an inability to adapt to new styles and a growth in consumer choice, have led to the demise of many mid-price Canadian retailers.
International companies like Zara, H&M and Forever 21 are seen as fast-fashion brands – they're massive and they operate on a ramped-up schedule. This speed allows these big retailers something traditional ones don't have: flexibility. They can get a new popular style onto the market in weeks or even days in some cases.
Traditional retailers just can't keep up.
On top of that, spending habits are changing. Mid-market retailers don't have as much draw because people are gravitating towards the extremes.
One of the main criticisms of Danier was that it didn't try to change until it was too late. It had a lock on the leather jacket market in Canada.
But leather's popularity has grown "astronomically" over the last few years, says Farla Efros, the president of HRC Advisory, a retail consulting firm. That popularity has brought cheaper alternatives and different styles onto the market.
And Danier was not particularly popular with the younger crowd, says Ed Strapagiel, a retail industry consultant. Even if they had tried to appeal to younger generations, their traditional image stuck with them.
Efros says that by the time many of these retailers tried to change, it was too late.
"They had already ignored their current consumer base and stopped reinventing," she says
Most shopping in Canada is still done in "brick-and-mortar" stores – only about 10 per cent is done online. But according to Strapagiel and Efros, that percentage grows every year.
Because of this, consumers now have more choice than ever. And many customers expect Amazon-style free shipping, so the retailers have to eat that cost, says Efros.
Strapagiel says online stores, while actually quite challenging and expensive to operate, have become a necessary cost of doing business.
Consumers now hold the power because online shopping has given them almost infinite choice, says Efros. That power had traditionally been in the hands of the manufacturer or the retailer.
The recession is difficult to ignore – Efros says it's been like the final nail in the coffin, but not the main cause behind these brands' failures.
http://www.cbc.ca/news/business March 13th, 2016
TEXT 9
Exercise № 14
Exercise №15
QUIZ (20 minutes)
I. Переведите следующие словосочетания на русский язык:
1. economic output
2. durable goods
3. growth rate
4. boom and bust
5. higher interest rate
6. consumer spending
7. to boost retail sales
8. capital goods
9. leading indicators
10. annual output
II. Переведите следующие словосочетания на английский язык:
1. благоприятная экономическая ситуация
2. с учетом инфляции
3. снижение объемов продаж комплектующих
4. наметить ориентиры на следующий год
5. повышать уровень жизни населения
6. рост курса иностранной валюты
7. ВВП в реальном выражении
8. ускорение темпов инфляции
9. избыточные мощности
10. удовлетворить внутренний спрос
III. Переведите следующие предложения на русский язык:
1. Combined GDP in the BRICs will rise to more than $14 trillion this year from $2.8 trillion in 2002, according to the IMF.
2. Sharply rising demand for Australian coal has left port facilities far behind.
Final Test (90 minutes )
Переведите текст на русский язык с использованием словаря.
Indonesia’s Gross Domestic Product Grows 4.73% in Third Quarter
Indonesia’s economy expanded at a slightly faster clip in the third quarter as increased government spending helped lift economic growth from a six-year low.
The improved performance offers some respite for President Joko Widodo, who has struggled to deliver the accelerated growth he promised amid legislative hurdles and a slowdown in China, Indonesia’s largest market for commodities.
Southeast Asia’s biggest economy grew 4.73% in the July-to-September period from a year earlier, compared with a 4.67% growth rate in the second quarter. The $800 billion economy grew 3.21% from the previous three months after a 3.78% expansion in the second quarter, the official Central Statistics Agency said Thursday.
Yet, growth was below the 5.8% average recorded over the past decade, and fell short of many economists’ expectations. Economists polled by The Wall Street Journal had forecast GDP growth of 4.8% from a year earlier and 3.28% from the previous quarter, raising concerns of the continuity of the growth acceleration.
The statistics agency said government spending improved 6.56% in the third quarter from a year earlier. Household consumption, which accounted for 55% of the gross domestic products in the third quarter, advanced 4.96% in the July-September period from a year earlier. It stayed steady from the 4.97% growth in the second quarter.
Since late September, Mr. Widodo has introduced a raft of policies to make it easier to invest in the country and boost household purchasing power, measures his administration hopes will help drive economic growth.
Weaker-than-expected growth recovery in the third quarter strengthens the case for the central bank to cut interest rates, economists said.
www. wsj. com
Exam Card
Переведите следующие предложения на русский язык:
1. Falling sales in European markets were offset by stronger performance in Asia.
2. Such production inputs as cheap labor and sufficient raw materials account for more outsourced jobs in the region.
3. With strong manufacturing, today multinationals enjoy the benefits of ‘just-in-time’ production scheme.
4. The new safeguards may boost consumer prices, which for several years have been under pressure due to worldwide weaker demand.
5. The EU accounted for almost a half of Russia’s trade in 2010, with the total at about $300bn, according to Renaissance Capital.
6. Fewer subsidies and import duties would encourage increased food production and exports, the WTO argues.
Классификация ошибок
ФЕДЕРАЛЬНОЕ ГОСУДАРСТВЕННОЕ АВТОНОМНОЕ ОБРАЗОВАТЕЛЬНОЕ УЧРЕЖДЕНИЕ ВЫСШЕГО ОБРАЗОВАНИЯ
МОСКОВСКИЙ ГОСУДАРСТВЕННЫЙ ИНСТИТУТ МЕЖДУНАРОДНЫХ ОТНОШЕНИЙ (УНИВЕРСИТЕТ) МИД РОССИИ
КАФЕДРА АНГЛИЙСКОГО ЯЗЫКА № 4
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