- •Донецький національний університет економіки і торгівлі імені Михайла Туган-Барановського
- •Economics Today
- •Content
- •Texts for Individual Reading
- •Передмова
- •Unit 1. What does economics study?
- •Vocabulary.
- •What does economics study?
- •Money price human wants scarcity
- •What does economics study?
- •Pronouns
- •Unit 2. Different Economic systems.
- •Vocabulary.
- •Different economic systems
- •Outstanding economists.
- •Unit 3. Economics as a social science.
- •Vocabulary.
- •Try to explain the above mentioned economic notions as you understand them, by your own words.
- •Economics as a social science.
- •Economics as a social science
- •Outstanding economists
- •Unit 4. Economics as a policy.
- •Vocabulary.
- •Economics as policy.
- •Economics and policy
- •Outstanding economists.
- •Unit 5. Main economic concepts.
- •Vocabulary.
- •Main economic concepts.
- •Outstanding economists.
- •2. Define:
- •Unit 6. Market, Supply and Demand.
- •Vocabulary.
- •Market, supply and demand
- •What money can’t buy
- •Outstanding economists.
- •Unit 7. Prices and their formation.
- •Vocabulary.
- •Price and its formation.
- •Past Tenses
- •When prices draw us.
- •Outstanding Economists.
- •2. Value:
- •Unit 8. Taxes and Taxation.
- •Vocabulary.
- •Taxes and taxation
- •Past Tenses Past Perfect Simple
- •Past Perfect Continuous
- •Will Germany Start Tax Reform?
- •Crackdown on “alcohol disorder zones”
- •Outstanding economists.
- •Sources of government revenue
- •Public spending
- •Unit 9. Business organization.
- •Vocabulary.
- •Forms of business ownership in the u.S.A.
- •The Formal Organization.
- •Up and Down of People Express
- •Burr’s Business
- •3. Necessity:
- •Unit 10.
- •Forms of business small business
- •I. Can you stick with it?
- •How to make business plan.
- •The Passive Voice
- •Unit 11. Franchising.
- •Vocabulary.
- •Franchising.
- •Evaluate your franchise opportunities.
- •Mc’Donald’s : burger and fries a la français.
- •Invest:
- •5. Tax:
- •Unit 12.
- •International Trade.
- •International trade.
- •How to avoid business blunders abroad.
- •Vocabulary to Text 2.
- •Advertising.
- •Vocabulary:
- •Answer the questions:
- •Economic theories.
- •Vocabulary:
- •Answer the questions:
- •Main economic concepts.
- •Vocabulary:
- •Answer the questions:
- •Management.
- •Vocabulary:
- •Answer the questions:
- •Marketing.
- •Vocabulary:
- •Answer the questions:
- •Types of economic systems.
- •Vocabulary:
- •Vocabulary:
- •Practical Tasks:
- •Text 2. Classical Theories.
- •Vocabulary:
- •Practical Tasks:
- •Text 3. The Meaning of Management.
- •Vocabulary:
- •Practical Tasks:
- •What is you understanding of management?
- •Vocabulary:
- •Practical Tasks:
- •Text 5. Management Activities.
- •Vocabulary:
- •Practical Tasks:
- •Text 6. Classical Theories.
- •Vocabulary:
- •Practical Tasks:
- •Text 7. Fayol's Principles of Management.
- •Vocabulary:
- •Practical Tasks:
- •Text 8. F.W.Taylor and Scientific Management.
- •Vocabulary:
- •Practical Tasks:
- •Text 9. The Principles of Scientific Management.
- •Vocabulary:
- •Practical Tasks:
- •Text 10. Scientific Management after Taylor.
- •Vocabulary:
- •Practical Tasks:
- •Text 1. Comments on the Scientific Management School.
- •Text 2. L.F.Urwick.
- •Text 3. E.F.L.Brech.
- •Text 4. Max Weber and the Idea of Bureaucracy.
- •Text 5. Bureaucracy.
- •Text 6. Bureaucracy after Weber.
- •Questions for Discussions to texts 1-6.
- •Nobel prize winners.
- •1975: Nobel Prizes.
- •Money in our everyday life quotations. Attitudes to money.
- •Giving away money.
- •Money and everyday life.
- •Money and the family.
- •Money at work.
- •Money madness.
- •Possessions.
- •The economic model.
- •The psychology of money.
- •The very rich.
- •Young people, socialisation and money.
- •Poetry.
- •I have some fe a rainy day underneath me bed,
- •Is dis culture yours, cause it is not mine
- •It could do good but it does more bad
- •The coin speaks.
- •The hardship of accounting.
- •The millionaire.
- •Keys unit 1.
- •Comprehension check.
- •Unit 2.
- •Comprehension check.
- •Unit 3.
- •Comprehension check.
- •Unit 4.
- •Comprehension check.
- •Unit 5.
- •Comprehension check.
- •Unit 6.
- •Comprehension check.
- •Unit 7.
- •Train and check yourself
- •Unit 8.
- •Unit 9.
- •Comprehension check.
- •Fill in the chart
- •Unit 10.
- •Unit 11.
- •Comprehension check.
- •Unit 12.
- •Keys to the texts for individual reading
- •Economics Today
Unit 9.
ІІ.
1. owner, ownership, to own, ownerless (нічий, безпритульний); 2. partnership; 3. corporation, corporatism; 4. accountable, accountancy, accountant, accounting; 5. legalise, legally, legalism; 6. employee, employer, employment, unemployed, unemployment, unemployable (непрацездатний); 7. establishment, established (визнаний); 8. manager, management, managerial, manageress (жінка – керівник заст.), managing; 9. contribution, contributor, contributory; 10. freeborn, freedom, freelance (вільний художник, дизайнер, що не працює постійно на якусь одну компанію); 11. flexible, flexibility, flexi time (нефіксований жорсткий графік роботи при незмінній кількості робочих годин на тиждень).
ІІІ.
1. partnership; 2. proprietorship; 3. sole proprietorship; 4. corporation; 5. corporations.
Comprehension check.
Exercise 1.
Fill in the chart
Forms of ownership |
Number of owners |
Profits |
Types of enterprises engaged in business |
sole proprietorship |
1 |
~26% |
farms, retail establishment service part-time business |
partnership |
2 and more |
7% |
law, accounting, finance |
corporation |
all shareholders |
>75% |
any kind of business |
Task 1.
structure – an organization or system made up of many parts that work together.
supervise – to be in charge of a person or group of people and check that they are working correctly.
responsible – someone who is in charge of people and must make sure that what they do is right.
accountable – someone in a position when people have the right to criticize you or ask you why something happened.
The definitions of the rest notions are in the texts of unit 9.
Exercise 1.
1. will start; 2. will have been looking for; 3. has just graduated; 4. got; 5. are you going to; 6. ‘ll have; 7. worked; 8. ‘ll start; 9. will you occupy; 10. will be; 11. shall be working; 12. will take; 13. Do you agree; 14. shall have been working; 15. hope; 16. will have finished; 17. will you do; 18. Don’t know.
Exercise 2.
1. competitive, competitor’s, competition; 2. successes, succeeded, successful; 3. necessity, necessary, unnecessary; 4. innovation, innovative, innovate; 5. management, managers (2); 6. employed, employer, unemployment, employees; 7. leader, leadership, led; 8. divide, division, dividing.
Exercise 3.
1. authority; 2. organization; 3. sole proprietorship; 4. supervised. 5. authority, accountable; 6.company (corporation); 7. delegate his authority; 8. accountable, supervision; 9. partnership.
Exercise 4.
1. has been working; 2. started, is; 3. did he achieve; 4. stayed, was working; 5. put; considered; 7. was; was always seeking; 8. didn’t feel, had been standing; 10. was interested; 11. was; 12. were scrambling, were producing; 13. could; 14. would be able; 15. would do, would make, would become; 16. realized, became; 17. has been doing.
Unit 10.
2.
1. independently owned |
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2. dominant |
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3. vital source |
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4. depending on the industry |
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5. to run the own firm |
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6. comfortable life |
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7. neighbourhood florist |
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8. corner pizza parlour |
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9. mom & pop operations |
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10. high technology fields |
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11. deal in |
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12. sizable operations |
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13. bread recipe |
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14. aimed at outgrowing… |
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15. comfortable with a degree of financial uncertainty |
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16. trait |
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17. resilience |
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18. challenge |
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19. bounce back |
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20. vision |
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Ex.3. With business plan and money as investment.
Ex.4.
1. planning; 2. written statement; 3. basic idea; 4. goals; 5. objectives; 6. thought; 7. personnel; 8. marketing; 9. facilities; 10. suppliers; 11. distribution; 12. detailed budget; 13. operating costs; 14. income; 15. expenses; 16. cash flow; 17. search; 18. sources of funds; 19. debt; 20. interest; 21. equity; 22. entitles; 23. profits.
Ex.7.
1. was asked; 2. has to be signed; 3. is being interviewed; 4. have been done; 5. was founded; 6. will have been finished; 7. is always admired; 8. are usually invited; 9. would be sent for; 10. was awarded.
Ex.8.
1. is; 2. exceeded; 3. started, had developed; 4. must be respected; must be given, must be pursued; 5. had been followed; 6. studies, will agree, has had; 7. had initiated; 8. had created, had generated; 9. will promote.