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Файл:С.Д. КОМАРОВСКАЯ world economy.docx
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- •International Trade and Its
- •1.4.1. Terminological Vocabulary to Text 1.4. Try to memorize it
- •1.4.2. Commentary and Notes to Text 1.4
- •15.1. Oral Practice. Work with a partner and discuss these comprehension questions on Text 1.4
- •1.5.2. Oral/Written Practice. Find the English equivalents in Text 1.4
- •1.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •1.5.4. Written Practice. Translation Focus
- •1.5.5. Multiple Choice Comprehension Check (basic text 1.4)
- •4. Any particular good is more profitable to produce by that nation which has the lower opportunity
- •6. Is there any rule to define principles by which specialization should be developed?
- •1.6. Oral Practice
- •1.7. Development
- •1.7.1. Reading (skimming, scanning for subject and language study)
- •1.7.1.1. Read the text “Life and Activities of the Nobel Prize Winner Ohlin Bertil” and say what
- •Vocabulary Notes to Text 1.7.1.1
- •1.7.1.2. Read and translate the microtext “Comparative Advantage” into Russian and give
- •Vocabulary Notes to Text 1.7.1.2
- •1.7.1.3. Translate the microtext “Division of Labour” in written form.
- •Vocabulary Notes to Text 1.7.1.3
- •1.7.1.4. Read the text “Economies of Scale” and discuss it in the form of a dialogue.
- •1.7.1.5. Read the text “Theoretical Aspects of International Trade” and make a synopsis of it in
- •1.7.2. Match the following terms with the correct definition
- •1.7.3. Read the text, complete it using the words from the box, and translate it into Russian
- •International Labour Organization (ilo)
- •1.7.4. Written/Oral Practice
- •1.8. Rendering
- •1.8.1. Render the text
- •1.8.2. Commentary and Notes to Text 1.8.1
- •1.9. Oral Practice. Round Table
- •1.10. Written Practice
- •2.4.1. Terminological Vocabulary to Text 2.4. Try to memorize it
- •2.4.2. Commentary and Notes to Text 2.4
- •2.5.1. Oral Practice. Work with a partner and discuss these comprehension questions on text 2.4.
- •2.5.2. Oral/Written Practice. Find the English equivalents in Text 2.4
- •2.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •2.5.4. Written Practice. Translation Focus
- •2 .5.5. Multiple Choice Comprehension Check (basic Text 2.4)
- •5. Net exports is the difference between the value of a nation’s exports and that o f its imports.
- •International Trade Agreements
- •2.7.1.2.Translate the text “The Classification of Least-Developed Countries According to the
- •Vocabulary Notes to Text 2.7.1.2
- •2.7.1.З. Translate the microtext “The Grounds for Exports” in written form.
- •Vocabulary Notes to Text 2.7.1.3
- •2.7.1.5. Read the text “Activities of the Nobel Prize Winner w. W. Leontief,” translate it orally
- •2.7.2. Match the following terms with the correct definition
- •2.7.3. Read the text, complete it using the words from the box, and translate it into Russian
- •2.7.4. Written/Oral Practice
- •2.8. Rendering
- •2.8.1. Render the text
- •2,8.2. Render the text
- •2.8.3. Commentary and Notes to Texts 2.8.1 and 2.8.2
- •2.9. Oral Practice. Round Table
- •3.4. Basic Text. Forms of International Trade
- •3.4.1. Terminological Vocabulary to Text 3.4. Try to memorize it
- •3.4.2. Commentary and Notes to Text 3.4
- •3 .5 .1 .Oral Practice. Work with a partner and discuss these comprehension questions on Text 3.4
- •3.5.2. Oral/Written Practice. Find the English equivalents in Text 3.4
- •3.5 .3 . Oral Practice. Explain in English the meanings of the following words and expressions.
- •3.5.4. Written Practice. Translation Focus
- •3 . 5.5. Multiple Choice Comprehension Check (basic Text 3.4)
- •3.6. Oral Practice
- •3.7. Development
- •3.7.1.1. Read the text “Free Thide. Advantages and Disadvantages” and make a synopsis of it in
- •Vocabulary Notes to Text 3.7.1.1
- •3.7.1.2. Read the text Highlights: Major Trade Developments in 2004: Assess the changes for
- •10 Years (1994-2004). Make your short-term and long-term forecasts and discuss them with your
- •Interaction between the Developed and Developing Countries on Organizing
- •International Trade
- •3.7.1.5. Read and translate the text “Preferential Conditions of International Trade” and give
- •3.7.2. Match the following terms with the correct definition
- •1. Trade discount
- •2. Countertrade
- •4. Broker 5. Market maker6
- •3.7.3. Read the text, complete it using the words from the box, and translate it into Russian
- •3.8. Rendering
- •3.8.1. Render the text
- •3.8.2. Commentary and Notes to Text 3.8.1
- •3.10. Written Practice
- •In selling in domestic markets and sometimes stop importing a product.
- •If tariffs and quotas impede free trade and thereby diminish economic efficiency, why do we have
- •In short, tariffs directly promote the expansion of relatively inefficient industries which do not have a
- •Is not surprising. We know that specialization and unfettered world trade based on comparative advantage
- •It contends very plausibly that in an uncertain world political-military objectives (self-sufficiency)
- •Increasingly fashionable as an economy encounters a recession. It is rooted in macroanalysis.
- •In the long-run a nation must import in order to export. Hence, the long-run impact of tariffs
- •Is not to increase domestic employment but at best to reallocate workers away from export industries
- •Infant-industry argument has logical validity, most economists feel that if infant industries are to be
- •Industries which directly compete with imported products. The industries and workers adver
- •4.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •1986). The developing countries had experienced a long-run decline in their terms of trade. Their
- •Vocabulary Notes to Text 4.7.1.1
- •In order to avoid a reduction in home prices and therefore producers’ incomes. The General
- •Industry. Under gatt regulations, if products are sold in a foreign market below the price at
- •Is prohibited under the terms of the European Economic Community’s Treaty of Rome. Rules
- •Vocabulary Notes to Text 4.7.1.2
- •Vocabulary Notes to Text 4.7.1.3
- •In cases where the most efficient scale represents a high proportion of the global market. It would certainly
- •Is not new; it is a variant of the infant-industry argument for protection against imports. But it reemeiged
- •Ineffectiveness theorem) had to a large extent been accepted, but in the world of economic theory
- •Import (entrance) duty, import tax, duty on imports
- •Igh h I nrterantateio n—al ta rвiff ы— смеождкуниарйод нтыйа трарифф segoн__________dй ены —
- •4.8. Rendering
- •4.8.1. Render the text.
- •4.8.2. Commentary and Notes to Text 4.8.1
- •In each market until some disturbance in costs or demand occurs. The importance of the price system
- •Is (a) that it serves as a means of rationing limited supplies among consumers, and (b) that it signals to
- •Influence that price. A monopoly or any firm in monopolistic competition first determines its
- •International prices are formed within the frames of common commercial transactions. We
- •Vocabulary Notes to Text 5.7.1.1
- •It in 1829 when he was only twenty-three) and Principles of Political Economy with Some of Their
- •In his exposition of the theory of value, Mill showed how price is determined by the equality of
- •In the uk, some sort of incomes policy was in force almost the whole time between 1965 and
- •1979. For the first few years it was legally enforced, but under the Labour government of 1974 to
- •1979 Pay increases were limited by voluntary agreement of the unions. In the 1980s price and
- •Incomes controls were abandoned in favour of a free market approach.
- •Vocabulary Notes to Text 5.7.1.5
- •5 .7. 3. Read the text, complete it using the words from the box, and translate it into Russian
- •5 .7.4. Written/Oral Practice
- •Import markup — надбавка к импортной цене
- •5.8. Rendering
- •5.8.1. Render the text
- •1. Бондовые скидки — предоставляются крупным оптовым покупателям, как правило, за
- •5.8.2. Commentary and Notes to Text 5.8.1
- •International Monetary System. Over the 1879-1934 period — with the exception of the
- •1. It must define its monetary unit in terms of a certain quantity of gold.
- •Volume of their international trade, national income, and their international reserve holdings. Part
- •In output, employment, and profits, thereby generating political pressures for protection.
- •In different regions of the world.
- •6.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •1.Мы различаем понятия ≪национальная валюта≫ (для
- •Vocabulary Notes to Text 6.7.1.1
- •1. Any speculation aspect — любой спекуляционный аспект
- •6.7.1.2. Read the text “Purchasing Power Parity,” translate it and explain the following: What
- •In a common currency). For example, if the us price level rises by 10 percent but the European
- •5 Percent. Change in the relative values of the two currencies compensates exactly for differences in
- •Vocabulary Notes to Text 6.7.1.2
- •Vocabulary Notes to Text 6.7.1.3
- •Invested in treasury bills. Similar funds or stabilization accounts are operated by other countries.
- •Introduced in 1983, entirely replacing the ￡1 note in 1986.)
- •6 .7.4. Written/Oral Practice
- •6.8. Rendering
- •6.8.2. Commentary and Notes to Text 6.8.1
- •In addition to valuation effects, factors that have arguably boosted turnover include investors'
- •Interest in foreign exchange as an alternative asset class to equity and fixed income, the more active
- •Increase in activity on the part of hedge funds and commodity trading advisers and robust growth
- •Include the continuing consolidation in the banking industry, as well as efficiency gains derived
- •2001-04 Period. The United Kingdom continued to be the most active trading centre, accounting
- •Is in this market that exchange rates are kept at their managed levels by government intervention. In
- •In three months or six months’ time. The difference between the “spot” rate of exchange and the
- •Interest-bearing assets denominated in such currencies as the us dollar, the Euro, Japanese yen
- •7 Мировая экономика
- •7.4.1. Terminological Vocabulary to Text 7.4. Try to memorize it
- •1 . A current account bank deposit — депозит текущего банковского счета
- •Vocabulary Notes to Text 7.7.1.2
- •7.7.1.4. Read and translate the text “The Use of Gold and Foreign Exchange Reserves” and give
- •In the functioning of the world exchange system great importance is attached to gold and foreign
- •Influence supply and demand on the foreign exchange market. Such intervention is bound to be of
- •1. Pressure on the reserves — давление на резервы
- •In August 1971, when the us government imposed various measures to correct its balance-ofpayments
- •Imf quota. In 1981 the sdr was simplified to a weighted average of us dollars (42 per cent),
- •Vocabulary Notes to Text 7.7.3
- •7.8. Rendering
- •7.8.1. Render the text.
- •7.8.2. Commentary and Notes to Text 7.8.1
- •Viewed by a Tokyo bank. To simplify, we assume that the correspondent bank is the same bank from
- •2. Import bank transactions. As just indicated, a Tokyo bank is a dealer in foreign exchange; it is
- •In the business of buying — for a fee — and, conversely, in selling — also for a fee — yen for dollars.
- •8.4.1. Terminological Vocabulary to Text 8.4. Try to memorize it
- •4. We have already found out that spread is of primary consideration in trading foreign currencies.
- •4. Все понятно. А как же поступит в этой ситуации It’s quite clear to me that.Японская
- •In this case it constitutes a demand for the Euro.
- •In our example we have assumed that only two goods are being traded — French wine and
- •Is, the rouble price of the Euro — or how many roubles the Euro can be exchanged for — that is, the
- •8.7.1.2. Read and translate the text “Option Business.” Retell it.
- •8 Мировая экономика 113
- •8.7.1.3. Read and translate the text “Arbitrage Transactions. Traders and Exchange Speculate
- •1. Dealing costs — расходы, связанные со сделкой
- •Vocabulary Notes to Text 8.7.1.4
- •8.7.3. Read the text, complete it using the words from the box, and translate it into Russian
- •8.7.4. Written/Oral Practice
- •8.8. Rendering
- •8.8.1. Render the text
- •8.8.2. Commentary and Notes to Text 8.8.1
- •If the dollar depreciates vis-a-vis the pound, the pound appreciates vis-a-vis the dollar. Conversely,
- •If the dollar appreciates vis-a-vis the pound, the pound depreciates vis-a-vis the dollar.
- •In exchange markets in purchasing more American and Japanese computers, and the dollar and
- •In the United States in comparison to most other nations. Consequently, British, German, Japanese
- •Increase in the supply of British pounds, German marks, Japanese yen and others, and the dollar
- •In practice, if the economic development vector of the usa and the European Union change,
- •Import British (European) goods, buy British transportation and insurance services, and to pay
- •Interest and dividends on British (European) investments in the United States is equal to the amount
- •In other countries. Specifically, this particular change in the exchange rate will alter the relative
- •In short, the free fluctuation of exchange rates in response to shifts in the supply of and demand
- •Ventures.
- •Value of its currency. For example, an increase in the dollar price of yen will mean that the United States
- •Instability. Freely fluctuating exchange rates may also have destabilizing effects upon the domestic
- •Internationally traded goods.
- •30 Percent of their gdPs (Germany, Great Britain, Canada, Netherlands, New Zealand, etc.).
- •Involves discrimination among importers. Serious problems of equity and favoritism are
- •Implicit in the rationing process. Third, controls impinge upon freedom of consumer choice.
- •In particular, restrictive fiscal and monetary measures will reduce the national income of the
- •1.Flexible or floating exchange rates are determined by the demand for and supply of foreign
- •9.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •5. С этим нельзя не со • гла senpxwrei)freovm (reraedситься. Любопытно
- •Vocabulary Notes to Text 9.7.1.2
- •Imported and are priced locally. If the pound devalues, the price of oil remains constant in dollar
- •Investment. In this event, consumption at home falls, and exports logically need to rise to offset
- •Important economic variable, governments have often sought to control exchange rates. It may be
- •It may be to promote trade or international cooperation.
- •In the absence of government controls, there would be an entirely free or floating exchange rate
- •In operation. With a freely floating system, no gold and foreign exchange reserves would be required
- •It places too much of the adjustment burden on the domestic economy. A middle course has been
- •9.8.1. Rend9.8.Regidnen Rer the text
- •9.8.2. Commentary and Notes to Text 9.8.1
- •Individual consultations to form assessments of global and regional developments and prospects.
- •In most low-income countries, this support is underpinned by Poverty Reduction Strategy Papers
- •3. The World Bank is the most important institution of settling the international movement of
- •Is retained but available for call to meet any of the Bank’s liabilities if required. The Bank also raises
- •In 1960. It gives long-term loans to governments at little or no interest for projects in the poorer of the
- •Ifc promotes economic development through the private sector. Working with business partners,
- •It invests in sustainable private enterprises in developing countries without accepting government
- •Investors in the absence of ifc participation and adds value to the projects it finances through its
- •1966 With 140 members in 2004, 150 total cases registered and 30 fiscal cases registered in 2004.
- •Icsid helps encourage foreign investment by providing international facilities for conciliation and
- •4. Regional banks influence the system of international monetary, credit and financial relations
- •Investment. In 1982 the African members of the Bank agreed to open its membership to non-African
- •It encourages economic and financial cooperation among the regional members. Membership
- •It was established to help the previously planned economies of Central and Eastern Europe
- •It may lend at market rates of interest or invest in equities. The Bank is located in London, uk.
- •10.4.1. Terminological Vocabulary to Text 10.4. Try to memorize it
- •10.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •6. Вы показали неплохое знан • иеltednopvm мвф. Насколько и з My aвnswer еmay cсause aт kind of
- •7. Не могли бы вы уточнить объемы и цели кредитныхst’ e .ItIaedhnv
- •10.7.1.1. Read and translate the text “Foreig.Pen.L ,il)seagydnu tsceromtc .I(fje017agbdnRmku m1vt7oDe0e n1 Aid” and give the definition of foreign aid.
- •Vocabulary Notes to Text 10.7.1.1
- •Is intended to promote private investment, not to complete with it.
- •Vocabulary Notes to Text 10.7.1.2
- •10 Мировая экономика 145
- •Ida targeted human-development projects in areas like education, health, social safety nets, water
- •Vocabulary Notes to Text 10.7.1.5.
- •10.7.3. Read the text, complete it using the words from the box, and translate into the Russian.
- •24 Промышленно развитых стран-членов, свободной торговле, координации валютно-кре-
- •2) Банки предоставляют в основном долгосрочные кредиты на финансирование инвестиционной
- •Value is for business purposes, although the commercial banks now make mortgage loans for enterprise
- •It takes place by means of constructing foreign enterprises (subsidiaries) and purchasing a block
- •It is also usual to take into account a national export of capital, mainly as international loans,
- •11.4.1. Terminological Vocabulary to Text 11.4. Try to memorize it
- •11.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •6. Многие специалисты считают, что главным источником инвестиционных вливаний в
- •11.5.5. Multiple Choice Comprehension Check (basic Text 11.4)
- •1. At the beginning of the 1990s the world surplus of capital was estimated at 180—200 billion dollars.
- •4. In what way is the entrepreneur’s capital export realized?
- •3. Международная миграция (движение) капитала — это
- •Investment and increasing consumption. However, reducing investment is likely to reduce standards
- •11.7.1.2. Read the text “Investment” and translate it into Russian without a dictionary.
- •Investment
- •Income determination shows how savings and investment are brought into equilibrium.
- •11.7.1.3. Read the text “The Debt Crisis of Developing Countries” and make an annotation of it.
- •Interest payments to make, annual expenditures on the military — new arms and equipment —
- •Vocabulary Notes to Text 11.7.1.4
- •1. Endeavor — усилие, предприятие
- •2. Reap the gains — получать доходы
- •11.7.1.5. Read the text “The Entrepreneur Is the Prime Mover in Economic Activity.” Enumerate
- •Inseparable from control of the firm in which he operates. The essence of the entrepreneur, therefore,
- •Is that he is alert to gaps in the market which others do not see and is able to raise the finance
- •If successful he will make a super-normal profit that will later reduce to a normal profit as new
- •Is as a fourth factor of production.
- •Implications for the behaviour of managers and market performance.
- •11 Мировая экономика 161
- •11.7.3. Read the text, complete it using the words from the box, and translate it into Russian.
- •In effect put some ... (6) away for use at a later date. The essence of capital, therefore, is that it
- •11.7.4. Written/Oral Practice
- •Invest capital — инвестировать капитал
- •Investment in research and development — иннеарубы
- •Industrial investment — инвестиции в промыш
- •11.8.2. Vocabulary Notes to Text 11.8.1
- •Intervention of the central bank).
- •International credits may be given in the following forms:
- •Importer or a bank
- •In most cases these include servicing and maintenance. In some cases the title of the property
- •12.5.3. Oral Practice
- •12.5.4. Written Practice. Translation Focus
- •1. Мировой рынок ссудного капитала имеет ряд особенностей, в том числе: (1) доля ссудного
- •2. Мировой кредитный рынок — это особый сегмент мирового рынка ссудного капитала,
- •7. What is implied by the notion “factoring ”?
- •1. A debtor nation — страна-должник
- •Increasingly provide a number of other services to their customers: trustee and executor facilities,
- •12.7.1.4. Read and translate the text “Credit as an Economic Concept” without a dictionary.
- •Industry, services and commerce is conducted on credit, and firms may provide small discounts on
- •12.7.1.3. Read the text “Credit Guarantee Practice” and translate it in written form.
- •12.7.1.5. Read the text “Central Banks: Their Powers and Functions.” Enumerate the functions
- •Interest rates which they control by establishing the rate at which loans of last resort will be
- •Independent central banks have more power than others. In Britain, New Zealand and Canada,
- •Vocabulary Notes to Text 12.7.1.5
- •Itcerad foten ,ceraovypm iterdc
- •Ilerлovyd— febtenaypmп
- •Instalment on principal — погашение основлицензионому
- •12.8. Rendering
- •12.8.2. Render the text
- •12.8.2. Commentary and Notes to Text 12.8.1
- •Is knocking down geographical boundaries, changing the structure of production and trade within
- •Industries previously thought to be natural monopolies (utilities) can become competitive.
- •International Trade in the Re sults of Intellectual Labour
- •In turn royalty and license fees. This category covers patents, copyrights, trademarks, industrial
- •13.5.3. Oral Practice
- •3. Такой короткий ответ и хотелось услышать. My information is that. Как вы полагаете,
- •13.7. Development
- •13.7.1. Reading (skimming, scanning for subject and language study)
- •13.7.1.1. Read and translate the text "Research and Development”. Make an account of it.
- •Inventions or the improvement of existing products and processes. All three types of r&d are
- •1. Pure research — чисто теоретические исследования
- •1. Incentive for innovation — стимул к новаторству
- •Vocabulary Notes to Text 13.7.1.2
- •In June 2002, the eu adopted its sixth rtd framework programme, covering the period 2002-
- •Its own, Persil’s 1993 marketing and advertising expenditure of around ￡38 million was equivalent
- •Interferons, enzyme-mediated diagnostic kits, and recombinant vaccines. Marine biotechnology
- •13.7.3. Read the text, complete it using the words from the box, and translate it into Russian
- •Is an autonomous factor in economic growth.
- •13.7.4. Written/Oral Practice
- •Issue (grant, award, give ) a licence — выдавать rп ilceaoриnuзц леньзтавию—
- •Import under a licence импортировать пoиц леньзтаев п ilceaордиdneлtxю —
- •13.8. Rendering
- •13.8.1. Render the text
- •1. Главное — это по-прежнему ваш собственный бизнес.
- •Interest and dividends received or paid abroad, purchases and sales of financial or real assets abroad,
- •It receives from foreign countries and all the payments which it makes to them.
- •13 Мировая экономика
- •2000—2004 Looked like this:
- •1.Current account Credits Debits
- •Imports. If exports exceed imports, then a trade surplus or “favorable balance of trade” is being
- •Item 8 reflects net transfers, both public and private, from the United States to the rest of the
- •In either event such transactions generate supplies of foreign currencies for the United States.
- •In international transactions must have a source (our “plus” inpayment or credit transactions).
- •In doing so they are referring to the “current and capital account balance” shown as item 13
- •In Table 9. If this is a negative item, a balance of payments deficit is being realized as was the case
- •If the current and capital account balance were positive, then the United States would be faced
- •1. The balance of payments records all of the international trade and financial transactions
- •2. A deficit on the current account will be largely offset by a surplus on the capital account.
- •14.4.1. Terminological Vocabulary to Text 14.4. Try to memorize it
- •14.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •14.5.4. Written Practice. "Translation Focus
- •1. Измерение международных связей (dimension of international links) — это не что иное,
- •2. Если баланс счета текущих операций (платежный баланс) отрицателен, что означает
- •3. Основные группы счетов международных операций сводятся в таблицу. Первая часть —
- •14.5.5. Multiple Choice Comprehension Check (basic Text 14.4)
- •4. The trade balance refers to:
- •7. Is there any relation between current and capital accounts?
- •8. The balance of payments:
- •6. Это верно. Давайте продолжим нашу беседу. Как струк
- •7. Вы действительно хорошо р • p t X I o ( s m
- •8. Мне нравится ваш ответ. В приведенном вами примере
- •10. Да, это совсем просто. В з h t c r b
- •14.7.1.1. Read the text “The Analysis of the ,il)seagydnu tscerom .Ttce147r I(fjagbdnmkumnep l47evoD1 1uk’s Balance of Payments in 2003.” Analyse the
- •Visible trade) and in services and the profits and interest earned from overseas assets, net of those
- •It exports. However, in the past this has been more than compensated for by the surplus which
- •It has earned on invisible account. From the middle of the nineteenth century up to 1931 the
- •Into deficit; only to see it move sharply into surplus with the uk’s own oil discoveries. It fell
- •Implied a net demand for foreign currency. In the fixed exchange rates of the time, the central
- •Import of goods -749.3
- •Visible balance -174.5
- •Investments overseas by usa residents -270.4
- •Is caused by an unsustainable period of excess demand, perhaps occasioned by an excessive budget
- •1. Savings — сбережения
- •In the account should, therefore, add up to zero. In practice, this is difficult to achieve for a number
- •Individual are those possessions or the liabilities of others to him, which have a positive money
- •If the savings ratio were 10 per cent, then the additional demand would be ￡10 million, which
- •2. The conversion of accumulated profits and reserves into
- •Issued capital. 3. Market capitalization is the market value of a
- •Income.
- •14.7.3. Read the text, complete it using the words from the box, and translate it into Russian
- •1. Balance sheet — балансовый отчет, баланс
- •Imbalance in external payments — несбалансиро
- •14.8. Rendering
- •14.8.1. Render the text
- •14.8.2. Commentary and Notes to Text 14.8.1
- •Industry, where supply will fall. It should be noted that supply is planned supply, not necessarily
- •It is possible for a short-run equilibrium to exist, when some quickly adjusting processes are in
- •Variable is sometimes likely to be an equilibrium, there is no guarantee that equilibria are efficient.
- •It is normally assumed that economic agents dislike risk (risk aversion) and in the market for
- •It is the analysis of a great number of these inconsistent factors that allows to examine the
- •15.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •15.5.4. Written Practice. Translation Focus
- •1. В большинстве промышленно развитых и новых индустриальных государств большое
- •2,9 % Выше импортных товаров.
- •2. Ценовой фактор в конъюнктурных исследованиях имеет первостепенное значение
- •3. Проводя конъюнктурные исследования на основе стандартной модели международной
- •15.5.5. Multiple Choice Comprehension Check (basic Text 15.4)
- •5. What in the market situation survey is of particular interest to businessmen who are engaged in the
- •6. How does the world oil market affect the economic situation in Russia, in your opinion?
- •15.6. Oral Practice
- •1. Наблюдения за экономическими явлениями It is rather a complicated и их науч problem...
- •2. Достойный (worthy of note) ответ! Конъюнк If you do not тура пр miеnd, I’дll start
- •3. Спасибо. Это достаточно полное освещение It is of interesto note.Вопроса.
- •4. Отлично! Таким образом, главная цель — это опредеI
- •5. Я с вами согласен. Очевидно, это самое сложное в смысле
- •15.7.1.1.Read the text “Dynamics Analysis in th.Pen.L m1vt7oDe5e ,il)seagydnu tsceromtc .I(fje157agbdnRmkue1 Market Situation Survey” and translate it in
- •In the market situation survey, particular attention is given to the analysis of its dynamics.
- •It is the analysis which aims to trace and study the behaviour of variables through time and determine
- •1. To be used rather loosely — использоваться довольно произвольно
- •2 And 2.75 per cent.” That is a number close to the long-term average growth rate. A similar estimate
- •Is worth the same amount in terms of the other factor whichever product it is used in. Otherwise,
- •1. Productive efficiency — производительная эффективность
- •1. Market power — рыночные силы
- •2. The going price — существующая (действующая) цена
- •3. Demand curve — кривая спроса
- •15.7.1.5. Read the text “Factors Affecting the Market Situation Adversely” and enumerate these
- •In the hope that they might extract a better deal from their adversary if they “play it tough.” a large
- •1. Outcome — последствие (результат)
- •15.7.4. Written/Oral Practice
- •Inflation rate behaviour — динамика loan iovиbu -erahа суисднкнм аохпырцаеий динфляции
- •Iscоинаяачом icкayиdnm— ескдким coнnmаэe
- •Interest rate risk — процентный риск ,с isrявonи trскa—зktceonанй сы р
- •15.8. Rendering
- •15.8.1. Render the text
- •15.8.2. Commentary and Notes to Text 15.8.1
- •50, Or 100 years.
- •Interest rates from the eighteenth century through the 1920s and found peaks and troughs at regular
- •16.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •3. Is it correct to conclude that all fluctuations in business activity are due only to the business cycles?
- •I.E., its expansion or contraction over a long period of years.
- •6. What main characteristics of the medium-term cycle should be taken into account in researching
- •16.7. Development
- •16.7.1. Reading (skimming, scanning for subject and language study)
- •16.7.1.1. Read the text “The Business Cycle” and make a synopsis of it.
- •1. Upward growth path — восходящая траектория (роста)
- •Inflation threatens became the norm after the Second World War in all Western economies, and
- •Instead, it is suggested, if the equilibrium level of unemployment is too high, measures affecting
- •1. A testimony — свидетельство
- •Interest rates, and large capital outflows point to a continued accommodative stance.
- •1. To pay tribute to... — отдавать должное...
- •1.In the wake of the quadrupling of oil price... — из-за учетверения цен на нефть
- •16.7.4. Written/Oral Practice
- •I) подъем — rise, pickup, revival,
- •I цикл: с 1787 по 1814 г. — повышательная волна, с 1814 по 1851 г. — понижательная волна;
- •II цикл: с 1844 по 1875 г. — повышательная волна, с 1870 по 1896 г. — понижательная волна;
- •16.8.2. Commentary and Notes to Text 16.8.1
- •16 Мировая экономика 241
- •I Structure of a II Incomes’ level III Territorial IV Commodity
- •In the country
- •V Sphere of social VI Character of VII Life period of VIII Organization,
- •Values disposable goods b) retail
- •In addition to different criteria and classification systems of commodity markets the main parameters
- •Indices:
- •It points out that the demand for loan capital (interest-bearing capital) decreases and
- •Indices increase, then it speaks of the improving of the economic situation, and vice versa.
- •17.4.1. Terminological Vocabulary to Text 17.4. Try to memorize it
- •17.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •2. Вы неплохо знакомы с вопросом. Я бы нескольк Aоccordin g to mрy undeаstandсing,
- •I’d like to give a definition of
- •Items summed and averaged. The weights used may be either the amount spent on each item in the
- •1. Summary single numbers — суммарные числа (сводные)
- •1. Without reference to the process — безотносительно к процессу
- •17.7.1.3. Read and translate the text “Comparative Static Equilibrium Analysis.”
- •Implications. The first is that it appears to demolish any case for government policy aimed at stimulating
- •1. Foresight — предвидение
- •Is that the quality of unit inputs may vary; for example, the use of more highly trained labour
- •Value is required as input per unit of output than other factors
- •17.7.3. Read the text, complete it using the words from the box, and translate it into Russian
- •Illustrate th a t... (1) in perfect markets (perfect competition) can be attained at a particular set of...
- •Vocabulary Notes to Text 17.7.3
- •1. To grope — нащупывать, идти ощупью
- •2. Shortfall in demand — недостаток спроса (в спросе)
- •17.7.4. Written/Oral Practice
- •Ic) indices, engineering and economic fi gu r es — ниаоин зеочипмэетаесклохн-оик о м и ч е с к о г о ц и к л а
- •Intraregional trade — внутрирегиональная (форвардная)
- •Inefficient agriculture — слаборазвитое (сель- ство (сельское)
- •90 %. В то же время окупаемость вложенного в них рубля достигала 10-12 лет, тогда как в
- •17.8.2. Commentary and Notes to Text 17.8.1
- •It deals in money, certificates of ownership, and certificates of debt. The business of the
- •In the primary market, and the money received goes to the company.
- •If everyone who bought stock simply kept it and waited to collect dividends, there would be no
- •Value for a variety of reasons: the general business climate, the type of industry represented by the
- •It It goes to the seller, minus a commission for the broker.
- •Itself may be perfectly healthy even as its stock decreases in worth.
- •Issue is quite large, several investment bankers may form a syndicate and divide the offering between
- •17 Мировая экономика
- •In otc trading until 1970. In that year the National Association of Securities Dealers introduced an
- •Investors buy listed stocks through brokers, who are officially known as registered representatives.
- •It is the inability to deposit additional funds that causes the great investor losses during a
- •In turn borrows from a bank. The loan must be repaid, even at the risk of personal bankruptcy.
- •18.4.1. Terminological Vocabulary to Text 18.4. Try to memorize it
- •18.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •3. What is the main reason for buying stock in the secondary market?
- •3.Конечно, вы правы, говоря о размещении (продаже)
- •8. Из вашего сообщения становится понятным, что фонI
- •9. В заключение, и это важн о еще раз подчеркнуть, сами
- •18.7. Development
- •18.7.1. Reading (skimming, scanning for subject and language study)
- •18.7.1.1. Read the text “Stock Exchange” and make a synopsis of it in written form and show the
- •In channelling savings into productive investment. Ready marketability requires that new issues
- •1. Bourse [buas] — (фр.) парижская фондовая биржа
- •100 Shares of ibm stock, for example; in Great Britain “stock” has the same meaning as “bond”
- •In which stocks and bonds are bought and sold.
- •1. To borrow — брать взаймы (заимствование)
- •Investors who prefer to receive a fairly certain income rather than exercise the rights of ownership.
- •1.Equity — обыкновенная акция, доля акционера
- •In and pay a premium over the price at which the bonds are currently selling.
- •Incurred in an acquisition.
- •Investment trusts in exercising particular functions. The merchant banks are relatively small institutions
- •Ilerbdu—ta вm
- •I) закладная — mortgage, bill of sale, lett er of hypothecation, bond (таможенная)
- •Variable rate mortgage — закладная с изме take out (raise) a mortgage-получить заемняющейся
- •Indices of corporate securities —индексы кор- stock exchange index —индекс фондовой
- •18.8. Rendering
- •18.8.1. Render the text
- •1. Операции на фондовых биржах. Хотя существуют буквально десятки тысяч акционерных
- •300 Акций ≪Крайслер≫. Инженер приглашает своего брокера и просит его сделать
- •2. Операции на внебиржевом рынке акций. Внебиржевой рынок ценных бумаг — самый крупный
- •3. Совместные фонды. В Америке есть достаточно большое количество людей, не считающих
- •18 Мировая экономика
- •18.8.2. Commentary and Notes to Text 18.8.1
- •19.2. Warm-up
- •Important force in the trend toward liberalized trade. Under its sponsorship, seven “rounds” of
- •Integration were the European Economic Community (eec), the eu, and the us-Canadian-
- •Is difficult to determine the extent to which eec prosperity and growth has been due to economic
- •Integration, it is clear that integration creates the mass markets which are essential to Common
- •19.4.1. Terminological Vocabulary to Text 19.4. Try to memorize it
- •19.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •2. A General Agreement on Tariffs and Trade (ga tt) was the largest international forum which regulated
- •6. The agreement on the creation of the North American Free-Trade Area (nafta) between
- •19.6. Oral Practice
- •1. Как известно, появление экономических I инте wгoрulаd цsayи thоaнt...Ных
- •1934 Г.? Какие полномочия он давал президенту этой
- •2. Что же, полагаю, достаточно. Хочу только н а I пbeоlieмve iнt isи wтelьl-k,n oчwтn..О.
- •3. С вами можно согласиться. Поскольку р е з I уwouлld sьingтle oаut aт feоw imмpor tдant
- •7. В заключение можно сделать вывод, что в реальной действительности
- •19.7. Development
- •19.7.1. Reading (skimming, scanning for subject and language stady)
- •19.7.1.1. Read the text “gatt’s Uruguay Round of Trade Negotiations — a Predecessor of wto.”
- •Into the multilateral system of trading rules. Non-tariff barriers were converted into tariffs and these
- •1. Restrictions on foreign exchange and the free movement of skilled workers have been eased —
- •19.7.1.5. Read the text “The Common Market of Central American States” and make a synopsis
- •Integration signed in December 1960. This treaty came into operation in June 1961, and a
- •1. An agreement on the Equalization of Import Duties and Charges — соглашение об уравнивании
- •Intention was to encourage the development and diversification
- •Initial a contract, initial an agreement, I n teriminate a ciontract, termlinate an agraement,
- •19.8. Rendering
- •19.8.1. Render the text
- •7 Трлн дол. Экономический потенциал блока достаточно велик (население — 370 млн человек,
- •550 Млрд дол., численность населения 200 млн человек, что достаточно красноречиво свидетельствует
- •19.8.2. Commentary and Notes to Text 19.8.1
- •20.2. Warm-up
- •19 Мировая экономика 289
- •Icy. The Treaty foresaw the prohibition of most industrial subsidies and dumping and the supranational
- •In the Council. Decisions can be taken by unanimity (each country has a veto) or by qualified
- •In 1981, Portugal and Spain in 1986, Austria, Finland and Sweden in 1995.
- •Instance, its judgement on equal pension rights in 1992 forced the uk government to move towards
- •Instance, its judgement on equal pension rights in 1992 forced the uk government to move towards
- •20.5.3. Oral Practice. Explain in English the meanings of the following words and expressions.
- •3. The European Union was formed as a result of merging:
- •4. Decisions in the European Union are taken:
- •5. On the basis of the Customs Union by 1968:
- •6. The Single European Act embodied the programme for:
- •1991, The recognition of qualifications, the public procurement tendering, etc.
- •20.6. Oral Practice
- •1. Как мы уже отмечали, опыт развития I'm интеграц wиellо awнaнre ыof..Х.
- •2. Да, это, безусловно, верные факты. I fully я бы кон сagтreаe тwиithр yoоuвал,
- •4. Все эти меры способствов seirt cdnou
- •Itreho tали ускорению ilaп ,itraceghnm f sA fo a traemромышленной
- •5. Мне представляется, что первый этап был н а иIf yoбu doоn’t mлindе, I’еll st arпt withл a jоoke...
- •6. Я согласен с вашей трактовкой (interpretation) э т I wоould гanswоer yo uэr queтstionа in the
- •1992 Гг.) ознаменовался (to be marked by) д •аtheл adopьtionн of tеhe Sйinglшe Europиean мAct
- •7. Если позволите, я выскажу свои соображения ( I stupopose t hise stagex completerd
- •8. В заключение необходимо отметить: поступательное
- •20.7. Development
- •20.7.1. Reading (skimming, scanning for subject and language study)
- •20.7.1.1. Read the text “Factor Market Integration” and explain how you understand the essence
- •In terms of the stages of economic integration, the European Union has progressed beyond
- •Is desirable, since it will weaken the powers of governments to interfere with market forces and
- •2. Reduced exchange rate uncertainty
- •3. Price transparency
- •4. Lower interest rates
- •5. Lower inflation
- •1. Incurs costs — вызывает (влечет) издержки
- •20.7.1.5. Read the text “The European Car Industry” and determine the volume of exported/
- •Imported cars by the eu to/from the rest of Europe, Japan, and North America (Table 13). Compare
- •2000-2010 To create a fully open eu market;
- •Italy 2 251 307 2 279 612 -1,2
- •Ireland 145 331 156 112 -6,9
- •Iceland 9 886 6 943 42,4
- •Volkswagen 2 586 178 2 651 521 -2,5
- •20.7.2. Match the following terms with the correct definition
- •1. La scotrsnae .Iltfse5uvym ltrsce4nopreg ..Ifacpltrae .6mre23bour a) Intangible, non-transferable economic goods as distinct from
- •I.E. It excludes frictional unemployment. Under full employment
- •20.7.3. Read the text, complete it using the words from the box, and translate it into Russian
- •In effect put some ... (6) away for use at a later date. The essence of capital, therefore, is that it
- •20.7.4. Written/Oral Practice
- •Investment tender — инвестиционный тендер
- •Ilsagodn foten leovdhpm tro ferdn t
- •20.8. Rendering
- •20.8.1. Render the text
- •20.8.2. Commentary and Notes to Text 20.8.1
- •In the middle of the 1990s there were more than 4,000 different feZs worldwide.
- •Into being as far back as the 17th century. These are transit, or consignment warehouses for export
- •Industrial and production zones (lPZs), or enterprise zones (uk). By the enterprise zone the Brit-
- •Ish mean a designated zone in a depressed, generally inner-urban area, in which firms located in
- •Island (Britain), the Antilles Islands, Hong Kong, Madeira Island, Liberia which operates the
- •21.5.3. Oral Practice
- •3. Free economic zones are:
- •4. Apart from attracting foreign investments, feZs allow to solve other problems that are particularly
- •Important for any nation, including:
- •5. Unbonded areas are:
- •In that it led to the optimal allocation of world resources, so a customs union, which was a step
- •In that direction, must also be beneficial. However, Jacob Viner in The Customs Union Issue,
- •Income elasticities of demand for the commodities traded. An added benefit may accrue because
- •21.7.1.3. Read the text “Association of South East Asian Nations.” Answer the question: What
- •In South-East Asia: Indonesia, Malaysia, the Philippines, Singapore, and Thailand. In 1976,
- •In 1984, Vietnam in 1995 and Burma and Laos in 1997. Import tariffs on intra-asean trade
- •21.7.1.4. Read the text “Asia-Pacific Economic Cooperation” and answer the question: How
- •1996. In 1996 there were eighteen members, viz. Australia, Brunei, Canada, Chile, China, Hong
- •Imposition of any import tariff or some specified taxes.
- •In which firms located in the zone are given favourable taxation
- •21.7.3. Read the text, complete it using the words from the box, and translate it into Russian
- •21.7.4. Written/Oral Practice
- •Investment incentives — меры, стимулирую- сторождения
- •Investment allowance — налоговая льгота на
- •Income tax exempt — освобождение от подоходного
- •21.8. Rendering
- •21.8.1. Render the text
- •1,5 Млрд дол.
- •21.8.2. Commentary and Notes to Text 21.8.1
- •In Russia the tnc is defined as a national monopoly with foreign assets. In the us the tnc is
- •Is usually divided in the ratio of 60 to 40, as e.G. Between England and Holland in the case of
- •In chemical, electronic, oil and automobile production, information technology, banking and some
- •In mining, the production of timber, food stuff, tools, and even the beer Prips.
- •In their expansion, tnCs make use of various means of developing the world market:
- •21 Мировая экономика
- •22.5.3. Oral Practice
- •3. What are the reasons for tnCs coming into being, in your opinion?
- •4. In their expansion, tnCs make use of the following means of developing the world market:
- •5. The branch (sector) structure of the tnc production looks in the following way :
- •6. What is the investment strategy of tnCs for developed and new industrial nations and the poorest
- •6. Интернационализация про• .Inot ltscequi sf
- •22.7. Development
- •22.7.1. Reading (skimming, scanning for subject and language study)
- •22.7.1.1. Read the text “Globalization,” give a definition of globalization according to your understanding
- •20Th century. At present by globalization economists mean geographical shifts in domestic economic
- •1. The cross-border networking of companies — международная сеть компаний (предприятий)
- •2. The расе of globalization... Facilitated by improvements in transport and communications —
- •3. To allay concerns — уменьшить обеспокоенность
- •22.7.1.2. Read the text “Multinational Corporation, Multinational Enterprise.” Give a brief account
- •1. A commonly accepted definition — общепринятое определение
- •22.7.1.3. Read the text “Has Globalization Affected the usa?” Make a synopsis of it.
- •Is taken over by Arabs (as indeed it was), would the service be any different in the long run? Economic
- •1. Economic invasion — экономическое вторжение
- •Various times decried American imperialism, particularly in France during the 1970s.
- •1. The hullabaloo — шум (трескотня в прессе)
- •Incorporated (corporate) enterprise, equity — приятие обрабатывающей промышлености
- •Industrial producer — производитель промышленных
- •34 % Мировых разведанных запасов природного газа, обеспечивает им народное хозяйство
- •Industrial expansion — промышленная экспансия
- •22.8.2. Commentary and Notes to Text 22.8.1
- •1.000.000 Is a million or ten to the power six ( 106)
- •Ibid. — ibidem
- •It does not follow logically — нелогично
- •In the work already named — в цитированном труде, указ. Соч.
- •Income of a country divided by its population — доход на душу населения
12.8. Rendering
12.8.2. Render the text
Эволюция системы кредитования.
Новые формы внешнеторговых кредитов
А. После Второй мировой войны до середины 1950-х гг.
Основной источник внешнего финансирования развивающихся и развитых стран —
официальные ресурсы, дополненные потоком прямых инвестиций. Мировой
финансовый рынок находится в состоянии упадка.
С середины 1950-х гг. до начала 1970-х гг.
Быстрый рост потока и преобладание официальных ресурсов. Долговые кризисы редки
и локальны.
С начала 1970-х гг. до августа 1982 г., то есть до вспышки глобального долгового кризиса.
Относительное уменьшение потока официальных ресурсов и резкий рост кредитования.
Усиление зависимости ряда стран от неустойчивости рынка ссудных капиталов. Доля
развивающихся стран на рынке синдицированных кредитов достигает '/,.
С августа 1982 г. до начала 1990-х гг.
Резкое сокращение притока частных ресурсов, особенно банковских кредитов. Долговой
кризис развивающихся стран.
Сначала 1990-х гг.
Возобновление притока частного капитала в развивающихся странах. Начинается
активная интеграция финансовых рынков ряда развивающихся стран (emerging markets)
в мировой рынок. Глобальный финан совый кризис в Азии и ≪эффект вируса≫ .
Начало XXI века.
Ситуация становится более устойчивой. Новыми для российского рынка формами
международного кредита становятся лизинг, факторинг и форфетирование.
176
В. Лизинг — долгосрочная аренда (от шести месяцев до нескольких лет) машин, оборудования,
средств транспорта, производственных сооружений с возможным последующим
выкупом арендуемого имущества. С обычным техническим кредитом лизинг сближают условия
проведения арендных операций. Арендатор избавлен от необходимости мобилизовывать
денежные средства. Оплата аренды производится частями в течение всего срока
использования оборудования. Лизинг — обоюдовыгодная форма аренды, которая позволяет
арендодателю ____________получать доход с неиспользуемого оборудования. Выделяют два основных
вида лизинга — финансовый и оперативный.
Финансовый лизинг — когда в течение срока аренды плата за нее максимально покрывает
сумму амортизации и прибыли арендодателя. По окончании срока соглашения арендатор
либо возвращает взятую в аренду технику, либо продлевает срок пользования ею.
При желании возможен и выкуп по остаточной стоимости.
При оперативном лизинге срок соглашения короче амортизационного срока машин и
оборудования. По окончании аренды оборудование подлежит возврату владельцу, если
срок не пролонгирован. Международный лизинг — быстроразвивающийся бизнес. Разнообразие
его форм привлекает все больше участников. В лизинговых контрактах зачастую
предусматриваются обязанности сторон по техническому обслуживанию, реконструкции,
эксплуатации и т. д. Условием контрактов является установление базисного периода, в течение
которого стороны не имеют права прерывать договор аренды. Лизинг позволяет
получить и налоговые преимущества.
Международный факторинг — кредитование экспорта в форме покупки неоплаченных
платежных требований (invoices) экспортера к импортеру и их инкассация. Им занимаются
специальные фактор-фирмы, которые, как правило, тесно связаны с банками
либо являются их дочерними фирмами. Факторинг — форма кредитования, выражающаяся
в инкассировании дебиторской задолженности фирмы-клиента. При этом фактор-
фирма покупает все денежные требования экспортера к иностранному импортеру в размере
70-90 % от суммы контракта до наступления срока их оплаты. Предприятиям,
использующим факторинг, обычно выгодно платить по своим счетам в течение предоставленного
фактор-фирмой срока для скидки сконто.
Форфетирование — операция кредитования экспорта банком или финансовой компанией
(форфетором) в форме покупки платежных требований экспортера на импортера
на полный срок без права их регресса на прежнего владельца, обеспечивая немедленный
платеж экспортеру стоимости товара за вычетом разницы между стоимостями
экспортного и форфетингового кредитов. Форфетирование как форма экспортного кредита
упрощает баланс за счет частичного уменьшения дебиторской задолженности и страхует
экспортера практически от всех валютных рисков. Часто экспортное форфетирование
практикуется при экспорте в некоторые государства Восточной Европы
и развивающиеся страны.
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