Английский язык для экономических специальностей (English for economists)

Английский язык для экономических специальностей (English for economists)

47

Учебно-методическое пособие по английскому языку

Автор: Г.П. Исаева

Настоящее учебно-методическое пособие построено на традиционных принципах методики и предназначено для студентов заочных отделений экономических вузов и факультетов, специализирующихся в области маркетинга и менеджмента, а также для широкого круга специалистов-экономистов, изучающих английский язык.

Основная цель данного пособия - сформировать у обучающихся умение читать и переводить оригинальную литературу по специальности и познакомить с вопросами управления и маркетинга в Англии и США. Тексты уроков подобраны из оригинальных источников.

Contents

Unit 1

Grammar:

1. Глаголы to be, to have.

2. Present simple.

3. Притяжательный падеж существительных.

4. Оборот there is, there are.

5. Неопределенные местоимения much, many, few, little.

Text. Economics

Unit 2

Grammar:

1. Порядок слов в английском повествовательном предложении.

2. Имя существительное в общем падеже в функции определения

3. Притяжательные местоимения.

Text. The market economy

Unit 3

Grammar:

1. Past simple.

2. Эмфатический оборот it is (was)... That (who)

3. Числительные

Text. Marketing

Unit 4

Grammar:

1. Future simple.

2. Модальные глаголы

3. Text. Product, price, promotion and place: the four p's of marketing

The economy of london

Unit 5

Grammar:

1. Participle ii.

2. Passive voice.

3. Сравнительные обороты.

Text. Industrial management

Unit 6

Grammar:

1. Perfect tenses.

2. Подчинительные союзы и союзные слова.

3. Побудительные предложения.

Text. Distributing the product

Text. Territorial and administrative division of government in the united kingdom

Unit 7

Grammar:

1. Participle i (present participle active).

2. Continuous tenses.

3. Безличные предложения с местоимением it.

4. Особые случаи образования множественного числа существительных.

Text. Production management the "five m's"

Unit 8

Grammar:

1. Правила согласования времен. Косвенная речь.

2. Future-in-the-past.

3. Бессоюзные определительные предложения.

4. This-these, that-those как заменители ранее стоящего существительного.

Text a. How competition benefits us all.

Text b. Competition in many markets: an example.

Unit 9

Grammar:

1. Passive voice.

2. Пассивные конструкции характерные для английского языка.

3. Формы инфинитива.

Text. Management and control of companies

Unit 10

Grammar:

1. Функции инфинитива.

2. Инфинитив в функции определения и обстоятельства.

Text. The sources of business funds

Unit 11

Grammar:

1. Объектный инфинитивный оборот (the objective infinitive construction).

2. Субъектный инфинитивный оборот (the subjective infinitive construction).

Text. Partnership

Unit 12

Grammar:

1. Герундий.

2. Герундиальные обороты.

Text. The federal reserve system

Other bank services

Unit 13

Grammar:

1. Participle i

2. Причастные обороты.

3. Независимые причастные обороты.

Text. Small business in the usa: an s-corporation is not always best.

Unit 14

Grammar:

1. Условные предложения (conditional sentences).

2. Бессоюзные условные предложения.

Text. Taxes, taxes, taxes

Appendix 1. States of the united states of america

Appendix 2. Counties of the united kingdom of great britain and northern ireland

Appendix 3. Administrative and territorial divisions of the russian federation

Appendix 4. Supplementary reading

Unit 1

Grammar: 1. Глаголы to be, to have.

I. Language Practice

1. Practise the fluent reading and correct intonation:

Hello, John! Hello! `How are you? Thank you, I'm all right;  Thank you, very well; Thank you, `not so well. `How are you doing? `How is business? `Not bad. `How's life? Fine, `thanks. `How do you do? `Good morning! Morning!`Good afternoon! Good evening! Evening! Glad to meet you! `Haven't `seen you for ages! It's `good to `see you again! How `nice to see you again!

2. Listen to the speaker; read and memorize the following words and phrases:

to be concerned with - заниматься изучением чего-то

exchange - обмен

consumption - потребление

goods and services - товары и услуги

business enterprises - деловое предприятие

objective - цель

psychology [sai`kli] - психология

sociology - [ sousi`li] - социология

behavior - [ bi`heivj] - поведение

microeconomics - [maikroui:k`nmiks] - микроэкономика

interplay - взаимодействие

supply and demand - спрос и предложение

a competitive market - рынок конкурирующих продавцов

wage rates - ставки заработной платы

profit margins - коэффициенты прибыльности

rental changes - изменения арендной платы

consumer - потребитель

income - доход

entrepreneur - фр. [antrpr`n:(r)] - предприниматель

to deal with - заниматься чем-либо

employment - занятость

to increase - увеличивать

interest - процент

John Maynard Keynes - Джон Мейнард Кейнс

Text. Economics

Economics, social science concerned with the production, distribution, exchange, and consumption of goods and services. Economists focus on the way in which individuals, groups, business enterprises, and governments seek to achieve efficiently any economic objective they select. Other fields of study also contribute to this knowledge: Psychology and ethics try to explain how objectives are formed; history records changes in human objectives; sociology interprets human behavior in social contexts.

Standard economics can be divided into two major fields. The first, price theory or microeconomics, explains how the interplay of supply and demand in competitive markets creates a multitude of individual prices, wage rates, profit margins, and rental changes. Microeconomics assumes that people behave rationally. Consumers try to spend their income in ways that give them as much pleasure as possible. As economists say, they maximize utility. For their part, entrepreneurs seek as much profit as they can extract from their operations.

The second field, macroeconomics, deals with modern explanations of national income and employment. Macroeconomics dates from the book, The General Theory of Employment, Interest, and Money (1935), by the British economist John Maynard Keynes. His explanation of prosperity and depression centers on the total or aggregate demand for goods and services by consumers, business investors, and governments. Because, according to Keynes, inadequate aggregate demand increases unemployment, the indicated cure is either more investment by businesses or more spending and consequently larger budget deficits by government.

II. Exercises on the Text:

3. Give Russian equivalents to:

social science; distribution of goods and services; to try to explain; sociology interprets human behavior; to create a multitude of individual prices; to spend their income; as much pleasure as possible; they maximize utility; for their part; to deal with modern explanation; prosperity and depression; demand for goods and services; business investors; according to Keynes; larger budget deficits.

4. Answer the following questions:

What is economics?

On what problems do economists focus their attention?

What do psychology and ethics try to explain?

What does sociology interpret in social contexts?

Into what fields can be standard economics divided?

What does microeconomics explain?

How do consumers try to spend their income?

Do they maximize utility?

What questions does the second field study?

Who is the author of the book «The General Theory of Employment, Interest, and Money»?

How does he explain prosperity and depression?

III. Grammar Exercises

5. Write these phrases in the possessive form, i.e. with `s or `

the corporations of the nation.

the activities of the people.

the desires of consumers.

the image of a product.

the reputation of a seller.

the work of a day.

the economy of a country.

the problems of the economists.

the play of the government.

the works of Keynes.

the dollar of a consumer.

6. Give the comparative and superlative of the following:

Example: high -higher - the highest;

professional - more professional - the most professional.

efficient, rational, modern, total, large, rich, poor, little, good, traditional, important.

7. Translate the following into Russian:

1. There are, however, no «pure» market economies in the world today.

2. Economists note that there is no limit to the amount or kinds of things that people want.

3. There is, however, a limit to the resources.

4. In addition to buyers and sellers, there are several other essential elements in a market economy.

5. There are many buyers and sellers so that no individual or group can control prices.

6. There are two ways to earn income: from your work and from the use of your wealth.

8. Chose the right word to the words given in the first column:

9. Translate into Russian:

Economists have two ways of looking at economics and economy.

Macroeconomics is the study of the economy as a whole, microeconomics is the study of individual consumers and the business firm.

Each factor of production has a place in our economic system, and each has a particular function.

Price stability refers to times during which prices remain constant.

A budget is a financial plan that summarizes income and expenditures over a period of time.

Saving is one of the most important things that people do with their incomes.

Economic forces also affect decisions in the world of business.

The United States government also employs economists to study economic problems and to suggest ways to solve them.

Consumers are people who use goods and services to satisfy their wants.

Efficiency is a measure of how much we get for what we use.

Demand is a consumer's willingness and ability to buy a product or service at a particular time and place.

10. Translate English jokes.

A.: Our math professor talks to himself, does yours?

B.: Yes, but he doesn't realize it. He thinks we're listening.

I find television very educating. Every time somebody turns on the set, I go to the other room and read a book.

11. Read the text and retell the contents in Russian:

London

London (England), city in southeastern England, capital of Great Britain, at the head of the Thames estuary, west of its mouth on the North Sea. London is one of the world's most important financial and cultural centers and is noted for its museums, performing arts, exchange and commodity markets, and insurance and banking functions, as well as a host of specialized services. In popular and traditional usage, the term City of London, or the City, is applied only to a small area (2.59 sq km/1 sq mi) that was the original settlement (ancient Londinium) and is now part of the business and financial district of the metropolis. The City of London and 32 surrounding boroughs form the Greater London metropolitan area, which has an area of 1579 sq km (610 sq mi).

Government

The London Government Act (1963) authorized the creation of a two-tiered government consisting of 32 borough councils and the Greater London Council. The borough councils are locally elected and are responsible for local functions. Until its abolition in 1986, the Greater London Council administered broad functions for the metropolitan area as a whole, such as overall planning, the coordination of transportation systems, and the management of parks. The council comprised 100 councilors, locally elected, and 15 aldermen, elected by the councilors.

The historic Corporation of the City of London is equivalent in function to a borough council. Since the reign of King John in the 13th century, citizens of the City of London have had the right to elect their own mayor. The corporation government is composed of the Lord mayor, who is elected annually by members of the livery companies (guilds); 25 aldermen, who are elected for life; and 153 council members, who are elected annually from 25 wards.

(From an Encyclopedia)

Unit 2

1. Practise the fluent reading and correct intonation:

Good bye! `Bye bye! `So long! `See you soon! `See you later! `See you tomorrow! I `hope we'll `see some more of you! Good night! Good day! Re`member me to...

`May I intro`duce `Mr. N.? `How do you do? `Glad to meet you. `Pleased to meet you. Please, intro`duce me to your friend. `Let me intro`duce you to `Doctor M. `Meet `Mr F. `Meet my friend, `Doctor M.

`Many thanks. `Thanks a lot. `That's nice of you. `Not at all! `That's all right! `Don't mention it!

2. Listen to the speaker; read and memorize the following words and phrases:

a buyer - покупатель

a seller - продавец

private property - частная собственность

to own - владеть

means of production - средства производства

incentive - стимул

to earn profits - получать прибыль

cost - цена, стоимость

cost price - цена производства

selling price - продажная цена

to charge a price - назначать цену

polling booth - кабина для голосования

to undersell - продавать по сниженной цене

Text. The Market Economy

A Market, or free enterprise economy is one in which the decisions of many individual buyers and sellers interact to determine the answers to the questions of What, How and Who.

In addition to buyers and sellers, there are several other essential elements in a market economy. One of these is private property. By «private property» we mean the right of individuals and business firms to own the means of productions. Although markets exist in traditional and command economies, the major means of productions (firms, factories, farms, mines, etc.) are usually publicly owned. That is, they are owned by groups of people or by the government. In a market economy the means of production are owned by private individuals. Private ownership gives people the incentive to use their property to produce things that will sell and earn them a profit.

This desire to earn profit is a second ingredient in market economy. Often referred to as the profit motive, it provides the fuel that drives sellers to produce the things that buyers want, and at a price they are willing to pay.

The profit motive also gives sellers the incentive to produce at the lowest possible cost. Why? Because lower costs enable them to (1) increase their profit margins, the difference between cost and selling price, or (2) reduce prices to undersell during the competition, or (3) both.

Economists often compare markets to polling booths. However, unlike the booths in which people vote for politicians, markets provide a kind of economic polling booth for buyers to cast their votes (in the form of purchases) for the goods and services they want. Producers who interpret the votes correctly by producing the things that buyers demand can earn profits. Those who interpret the voting incorrectly, producing too much or too little, or charging a price that is too high or too low, do not earn profits. In fact, they often lose money.

Consumer votes can be a matter of life and death to business in a market economy.

II. Exercises on the Text:

3. Give Russian equivalents to:

the decisions of many individual buyers and sellers interact; essential elements; the right to own the means of production; to exist in traditional and command economies; publicly owned; the incentive to use their property; the desire to earn profits; often referred to; to drive sellers to produce the things; the lowest possible cost; to increase their profit margins; unlike the booth; to vote for politicians; to cast their votes; to interpret the voting incorrectly; too much or too little; to lose money; a matter of life and death to business.

4. Answer the following questions:

What is a market, or free enterprise?

Are there several other essential elements in a market economy?

What do we mean by «private property»?

Who own the major means of production?

What does private ownership give people?

What is the profit motive?

Why does the profit motive give sellers the incentive to produce at the lowest possible cost?

To what do economists often compare markets?

What is the difference?

When do producers lose money?

III. Grammar Exercises

Формы притяжательных местоимений

6. Put in the missing verbs and possessive forms:

Pronoun Verb Possessive

1. I come from Russia ... language is Russian.

2. He ... from Poland ... language is Polish.

3. You come from Sweden ... language is Swedish.

4. They ... from Norway ... language is Norwegian.

5. We come from Denmark ... language is Danish.

6. I come from Greece ... language is Greek.

7. He ... from Holland ... language is Dutch.

8. She ... from Germany ... language is German.

9. They come from China ... language is Chinese.

10. We ... from Spain ... language is Spanish.

11. He ... from Japan ... language is Japanese.

12. We come from England ... language is English.

7. Make ten questions, using these question words:

Who? What? Where? Why? How many? What kind of? What is the difference? Is there? Are there? Have you?

8. Read the text and retell the contents in Russian:

Keynes

Keynes, John Maynard, 1st Baron Keynes of Tilton (1883-1946), British economist.

Keynes was born in Cambridge, England, and educated at Eton College and the University of Cambridge. He began his career in the India Office of the British government and wrote a highly regarded book, Indian Currency and Finance (1913). During World War I he worked in the treasury, which he represented at the Paris Peace Conference (1919). During the next decade he made a fortune speculating in international currencies, taught at Cambridge, and wrote Treatise on Probability (1921), a mathematical work, and A Treatise on Money (1930). In the latter, he sought to explain why an economy operates so unevenly, with frequent cycles of booms and depressions. Keynes closely examined the problem of prolonged depression in his major work, The General Theory of Employment, Interest, and Money (1936). This book, which provided a theoretical defense for programs that were already being tried in Great Britain and by President Franklin D. Roosevelt in the U.S., proposed that no self-correcting mechanism to lift an economy out of a depression existed. It stated that unused savings prolonged economic stagnation and that business investment was spurred by new inventions, new markets, and other influences not related to the interest rate on savings. Keynes proposed that government spending must compensate for insufficient business investment in times of recession.

Shortly after Great Britain entered World War II, Keynes published How to Pay for the War (1940), in which he urged that a portion of every wage earner's pay should automatically be invested in government bonds. In 1942 he was made a baron, and two years later he headed the British delegation to the United Nations Monetary and Financial Conference, the Bretton Woods Conference. There he promoted establishment of the International Bank for Reconstruction and Development and the International Monetary Fund.

Keynes's ideas have profoundly influenced the economic policies of many governments since World War II, and many consider his General Theory of Employment, Interest, and Money one of the most significant theoretical works of the 20th century.

Unit 3

Grammar: 1. Past Simple.

I. Language Practice

1. Read the sentences given below. Mind the stress and intonation in them:

There are `nineteen `large `lecture `halls in the `central `building. There are `one `hundred and `forty audi`toriums for `groups to `study.

There is `no `newspaper on the table. There is `nothing on the  table.

Is there a `computer `centre in the `college? There were some scien`tific la`boratories `here last year. `What is there on the floor?

`How `many `parks are there in this `city? There are `many of them.

2. Listen to the speaker; read and memorize the following words and phrases:

to involve - вовлекать

producer - производитель

to be responsible for - быть ответственным за

consumer - потребитель

manufacturer - производитель, изготовитель

pervasive - обширный

to determine - определять

needs and desires - нужды и желания

with regard to - относительно, что касается

to persuade - убеждать

purchase - покупка

product line - ассортимент изделий

promotion - стимулирование, продвижение товара

in addition - в дополнение

to supervise - наблюдать за чем-либо

warehouse - товарный склад, оптовый магазин

Text. Marketing

Marketing, activities involved in getting goods from the producer to the consumer. The producer is responsible for the design and manufacture of goods. Early marketing techniques followed production and were responsible only for moving goods from the manufacturer to the point of final sale. Now, however, marketing is much more pervasive. In large corporations the marketing functions precede the manufacture of a product. They involve market research and product development, design, and testing.

Marketing concentrates primarily on the buyers, or consumers, determining their needs and desires, educating them with regard to the availability of products and to important product features, developing strategies to persuade them to buy, and, finally, enhancing their satisfaction with a purchase. Marketing management includes planning, organizing, directing, and controlling decision making regarding product lines, pricing, promotion, and servicing. In most of these areas marketing has complete control; in others, as in product-line development, its function is primarily advisory. In addition, the marketing department of a business firm is responsible for the physical distribution of the products, determining the channels of distribution that will be used and supervising the profitable flow of goods from the factory or warehouse.

II. Exercises on the Text:

3. Give Russian equivalents to:

Activities involved in getting goods; is responsible for the design; early marketing techniques; to the point of final stage; is much more pervasive; in large corporations; precede the manufacture of a product; testing; with regard to the availability of product; enhancing their satisfaction with a purchase; marketing management; regarding product lines; promotion; its function is primarily advisory; the marketing department; physical distribution; the profitable flow of goods.

4. Compose the questions using the following words:

1. is, marketing, what?

2. the producer, is, for what, responsible?

3. early marketing technique, did, what, follow?

4. the manufacture of a profit, where, precede, the marketing functions, do?

5. they, what, do, involve?

6. does, on, what, concentrate, marketing?

7. what, marketing management, does, include?

8. marketing, complete control, has, when?

9. the marketing department of a business firm, responsible for the physical distribution of the products, is?

III. Grammar Exercises

5. Form the Past Indefinite Tense of the following verbs:

to involve, to be, to precede, to concentrate, to buy, to get, to make, to have, to select, to contribute, to try, to assume, to spend, to give, to increase.

6. Put the verbs in brackets in the Past Indefinite Tense and translate the sentences:

1. Aristotle and Plato in ancient Greece (to write) about problems of wealth, property, and trade.

2. The Romans (to borrow) their economic ideas from the Greeks and (to show) the same contempt for trade.

3. In ancient and medieval times dire scarcity of resources (to be) common and (to affect) the lives of most human beings.

4. In England, Parliament (to pass) a Statute of Monopolies (1624).

5. The Second development (to be) the expansion of production that (to follow) the Industrial Revolution.

6. Cartels (to originate) in Germany during the 1870s.

7. As business (to become) more competitive, new and more complex corporate combinations (to come) on the scene.

7. Put all possible questions to the sentence:

1. During World War II the government of Germany utilized domestic cartels to produce armaments.

8. Translate into Russian paying attention to the emphatic construction «it is ... that ...»:

2. It is the planners who decide what goods and services will be produced.

3. It is the planners, too, with guidance from the country's political leadership, who decide who will receive the goods and services produced.

4. It was at this time (1936) that Keynes' work was published.

5. Indeed, it is from the early 1970s, when dйtente began to take shape.

9. Write in words these numbers:

11, 12, 13, 15, 17, 20, 30, 40.

10. Use hundred, thousand, million with the words in brackets:

300 (dollar); 400 (pound); 10,000 (rouble); 500,000 (woman); 2,000,000 (man); 6,700 (child); 1,000 (computer).

11. Read the dates:

March 8, 1991; June 22, 1941; May 9, 1945; April 12,1961; January 1, 2000.

12. Translate English jokes:

A: Did the play have a happy ending?

B: Yes, everybody was happy when it ended.

A: A telegram from George, dear.

B: Well, did he pass the examination this time?

A: No, but he is almost at the top of the list of those who failed.

Unit 4

1. Practise the fluent reading and correct intonation:

`What's the time? `What time is it now? Can you `tell me the exact time? It's two o'clock. No, it's half past two. Ex`cuse me, it's `not `half past two, it's a `quarter past two. I'm `not quite `sure, it's a `quarter past two. I'm afraid it's a `quarter to three already. I `haven't `got a watch.

What date is it today? It's the 10th of November. What day of the `week is it? It is `Monday. Are you sure it's the `tenth of November and it's `Monday today? Yes, I am. Quite. Not at all.

`What's the weather like today? `How is it outside? It's not warm today. It was warm yesterday. The `day was `beautiful and sunny. It's going to rain.

2. Listen to the speaker; read and memorize the following words and phrases:

customer - клиент, покупатель

survey - исследование

warranty card - гарантийная карта

sophisticated - опытный, фальсифицированный

a sample of consumers - обследуемая группа покупателей

population - население

to typify - [`tipifai] - служить типичным примером

fixed expenses - постоянные затраты

insurance - страхование

rent - арендная плата

variable expenses - переменные затраты

a break-even point - точка самоокупаемости, точка критического объема производства

net loss - чистый убыток

advertising - рекламирование

Text. Product, Price, Promotion and Place: The Four P's of Marketing

The total marketing concept involves four steps, or, as they are often called, the four P's of marketing - product, price, promotion and place.

Product. The place to begin is with the product itself. A business must determine what kind of product potential customers want. Companies employ very complex market research techniques to find out. Surveys by phone, mail, or personal interview can reveal, exactly, what's on the consumer's mind. The product warranty card that you return after a purchase provides marketing information too. Sophisticated research mathematics applied to a sample of consumers can typify the rest of the consumers. If we can find out what a few want, we can assume the others in the group of population will want the same things. Deciding who should be in the sample is the problem. Researchers have very detailed formulas for constructing marketing samples.

Price. Another major part of marketing is price. Companies have to decide on a product price that will cover all costs and also return a profit. Included in costs are such fixed expenses as rent and insurance. Variable expenses must be anticipated too. Those include the costs of material and commissions. These costs are used to compute a break-even point - the point at which income from sales equals fixed and variable expenses. On one side of this point, the company will have a net loss and on the other side, a net profit.

Promotion. Promotion is a key part of marketing because it is the way business get their messages to consumers.

Businesses would like to see steady growth rather than sudden surges in business. One function of promotion is to maintain a steady and growing demand. Promotions through advertising in the media, direct mailings or through personal contact are a few of the ways producers make their products known to consumers. If consumers don't know about a product, they won't buy it. Through advertising, businesses tell people what products are available. Advertising even gives them reasons to buy.

Place. The final part of marketing, the fourth «P», is place. For a product to be useful, it has to be in place when and where it is needed. That should seem obvious. To sell products, business must anticipate «when» and «where» consumers will buy them. A hot dog at a baseball game on a sunny afternoon is an example of excellent product placement. A lemonade stand in the winter is not. Hot dogs have less value after the game, and lemonade has more value in the summer.

II. Exercises on the Text:

3. Give English equivalents to:

Общее понятие маркетинга включает четыре момента; потенциальные покупатели; исследования по телефону, по почте; на уме покупателя; обследуемая группа покупателей; чего хотят немногие; очень подробные формулы; покрывать все издержки; такие постоянные затраты как рента и страхование; вычислить точку самоокупаемости; ключевая часть маркетинга; в средствах массовой информации; предприятия должны предвидеть.

4. Ask questions for these answers (work in pairs):

The total marketing concept involves four steps.

They are product, price, promotion and place.

Yes, it must.

Surveys by phone, mail, or personal interview can reveal it.

The product warranty card provides marketing information too.

It is price.

Variable expenses must be anticipated too.

A break-even point is the point at which income from sales equals fixed and variable expenses.

Promotion is a key part of marketing.

Advertising gives people reasons to buy products.

To sell products, businesses must anticipate «when» and «where» consumers will buy them.

5. Translate the following into Russian:

The Major Marketing Functions

III. Grammar Exercises

6. Write out these sentences putting the verb in brackets into the future tense:

1. The study of economics (to help) you to understand economic forces better.

2. Cleaning up the river (to require) a major effort, and considerable expense.

3. A change in the price of one item (to result) in a shift in the demand for a substitute.

4. An increase in production costs (to have) the opposite effect - supply (to decrease).

5. As long as supply and demand remain unchanged, the equilibrium of market price (to remain) constant.

7. Make the sentences (a) interrogative, (b) negative:

1. They will try to economize to get the most from what they have.

2. Economics will also help you to fulfill your responsibilities as a citizen in a democracy.

3. Economists will agree that unemployment is bad.

4. Entrepreneurs will try to run their businesses to earn the greatest profits.

8. Fill in the blanks with the verbs «can», «may», «must», «have to», «to be able (to)»:

Liquidity is a measure of the ease with which you ____ convert your savings to cash.

Since a society cannot have everything, it ____ decide which goods and services it will have now.

Americans ____ to own property for business purposes and use it to produce income.

Most producers ____ make more than one product.

Such systems ____ characterize isolated tribes or groups, or even entire countries.

Unable to compete with the Japanese, the company ____ to go out of business.

Any number of persons ____ contract to form a partnership.

You ____ earn the income to buy the things you want.

The number and value of things we ____ to buy depends upon the size of our income and how wisely we spend it.

Most of the time, we ____ to keep track of our expenditures so we ____ to meet our immediate needs.

9. Translate the following sentences paying attention to the different functions of the word «one».

1. In fact one common definition of economics is «the study of how people make a living».

2. The market price is the one at which goods and services will actually be exchanged for money.

3. One of the main reasons people save their money is to earn interest.

4. Advertising provides us with information about prices, recent improvements in certain goods and services, and the availability of new ones.

5. The development of the socio-economic formations rises from the lower stage to the higher one.

10. State the part of speech of the following words:

management, speaker, production, economist, economical, economic, economics, national, technical, techniques, largely, product.

11. Form nouns with the help of the suffixes:

-ment: to manage, to agree, to govern, to employ, to invest, to develop.

-er: to consume, to programme, to produce, to buy, to sell, to plan, to own, to manufacture.

-tion: to produce, to distribute, to consume, to compete, to operate, to explain, to determine.

-or: to distribute, to invest, to operate, to regulate, to educate.

-ist: economy, sociology, psychology, behavior, special.

12. Read the text and retell the contents in Russian:

The Economy of London

London's economy is distinguished by a multiplicity of activities that reflect the structure of the British economy as a whole. Service industries account for almost three-quarters of total employment; they include banking, insurance, the civil service, transportation, education, food and drink, printing and publishing, retailing, and numerous professional and custom services. Tourism also plays a vital part in London's service industries. Next in importance are manufacturing and engineering and the latter has allied industries; each of these two sectors accounts for approximately 10 percent of total employment. The production of precision instruments, computers, aircraft, automobiles, chemicals, and clothing, as well as the refining of petroleum, are all important. Not unexpectedly, Greater London possesses the country's greatest concentration of professional, technical, and administrative occupations, as well as the highest average income in Britain.

The central area of London is dominated by service employment and characterized by the localized concentration of various activities: banking and finance in the City, insurance and law in Holborn, government in Westminster, newspaper publishing in Fleet Street, medicine in Harley Street, tailoring in Savile Row, retail outlets in Bond and Oxford streets, and education in Bloomsbury. Industrial activity is important in the so-called Victorian Manufacturing Belt-a crescent-shaped band on the southern bank of the Thames River, extending northwest from the City and Southwark. Here, small-scale specialized production dominates.

Providing the raw materials and access to markets is the extensive Port of London, the major docks of which are located just downstream from London Bridge. London is one of Europe's largest seaports and handles virtually every type of commodity and cargo. To the west of Central London are newer manufacturing areas such as Park Royal. Toward the periphery of Greater London and in the surrounding outer metropolitan area are more sophisticated and specialized industries, such as those manufacturing aircraft, computers, and electronic equipment. To the west of London, economic development has been stimulated by the presence of Heathrow International Airport, and to the south, by Gatwick International Airport.

(From an Encyclopedia)

Unit 5

1. Practise the intonation in the questions and the answers:

Have you a warranty card? Had you a warranty card? Have you got a warranty card? `How many `classes `have you `got to day? `Is there an evening `department at the faculty? Are you a student? `You are a student of the `All-`Russian `Distance `Institute of Finance and Economics, aren't  you? `Do you study or work? Do you agree? `I'm afraid I don't agree. `Do you `really think so? `You're `quite right. `You didn't `study `last year, did you?

2. Listen to the speaker; read and memorize the following words and phrases:

technique - [tek`ni:k] - техника (исполнения)

an organization chart - организационная схема

to designate [`dezineit] - определять

executives [i`zekjutivz] - директора

execution [eksi`kju:n] - выполнение

foreperson - мастер

department head - начальник (цеха)

with respect to - что касается

supply - поставка, снабжение

accounting - учет

supervision - наблюдение

guidance [`aidns] - руководство

records and reports - учетные документы и отчеты

wage incentive program - программа финансово-материального стимулирования

Text. Industrial Management

Industrial Management, in business, term used to describe the techniques and expertise of efficient organization, planning, direction, and control of the operations of a business.

In the theory of industrial management, organization has two principal aspects. One relates to the establishment of so-called lines of responsibility, drawn usually in the form of an organization chart that designates the executives of the business, from the president to the foreperson or department head, and specifies the functions for which they are responsible. The other principal aspect relates to the development of a staff of qualified executives.

Planning in industrial management has three principal aspects. One is the establishment of broad basic policies with respect to production; sales; the purchase of equipment, materials, and supplies; and accounting. The second aspect relates to the implementation of these policies by departments. The third relates to the establishment of standards of work in all departments. Direction is concerned primarily with supervision and guidance by the executive in authority; in this connection a distinction is generally made between top management, which is essentially administrative in nature, and operative management, which is concerned with the direct execution of policy. Control involves the use of records and reports to compare performance with the established standards for work.

Industrial management as just defined dates from the latter part of the 19th century. A notable impetus to its evolution was provided by the American engineer Frederick Taylor, who developed techniques for analyzing the operations involved in production and for setting standards for a day's work. The techniques originally devised by Taylor were adopted by industrialists to other phases of business, including the employment of qualified workers, and wage incentive programs either to replace or to supplement the piecework system that had previously prevailed. Industrial management experts who succeeded Taylor have applied his techniques to a wider range of business problems. Among the leading successors are the Austrian-American management consultant and educator Peter Drucker and the American economist, writer, and diplomat John Kenneth Galbraith.

II. Exercises on the Text:

3. Give English equivalents to:

термин, используемый для описания; два главных аспекта; так называемый; которые определяют директоров предприятия; штат квалифицированных исполнителей; установление политики; закупка оборудования; уровни работы во всех отделах; в этой связи; высшее руководство; действующее руководство; управление; использование учетных документов и отчетов; заметный толчок; техника для анализа действий; была применена промышленниками; программы финансово-материального стимулирования; система сдельного труда; среди ведущих преемников; педагог.

4. Ask questions to these answers (work in pairs).

Organization has two principal aspects.

One relates to the establishment of so-called lines of responsibility.

An organization chart designates the executives of the business.

Yes, it does.

Planning has.

The third aspect relates to the establishment of standards of work in all departments.

Yes, it is.

A distinction is made between top management and operative management.

Control involves the use of records and reports.

The American engineer Frederick Taylor.

It was adopted to the employment of qualified workers, and wage incentive programs.

5. Translate the following into Russian:

Characteristics of Economic Markets

III. Grammar Exercises

6. Write down the following verbs in the form of Participle II:

to go, to increase, to begin, to buy, to sell, to make, to play, to write, to bring, to specialize, to operate, to understand, to expand.

7. Put the words in brackets in the Passive Voice:

1. Every society (to face) with the identical problem, the problem of scarcity.

2. The need to chose (to impose) on us all by our income, wealth and ability to borrow.

3. Individuals and families (to limit) by the size of their personal income, savings and ability to borrow.

4. In a free market economy, prices (to determine) by the interaction of the forces of supply and demand.

5. When two goods satisfy similar needs, they (to describe) as substitutes.

8. Turn the following from Active Voice into Passive Voice:

1. Profits, savings and borrowing power limit business firms.

2. Frederick Taylor provided a notable impetus to industrial management.

3. Keynes wrote many books.

4. The competitive system will determine business ethics.

5. Great complexity of organization and administration characterize the operation of large business firms.

6. Two or more persons own a business organization.

7. Sir Joseph Binks gives Tom a small cheque.

8. They gave Uncle Tom a cheque and a railway carriage.

9. Translate the following sentences into Russian paying attention to the functions of Participle II:

1. Salaries refer to earnings paid on a weekly or monthly basis.

2. The term «wage» typically refers to the earnings of workers paid by the hour or unit of production.

3. Used in certain ways, wealth can earn income.

4. Natural resources are the things provided by nature that go into the creation of goods and services.

5. Nearly 90 percent of goods and services produced in the U.S. each year come from privately owned firms.

6. Shares are traded in organized markets such as the New York Stock Exchange.

10. Express the following in Russian:

1. The more you know about the subject, the better career decisions you will be able to make.

2. For their part, entrepreneurs seek as much profit as they can extract from their operations.

3. As a rule, the more scarce something is the higher its price will be, and the fewer people will want to buy it.

4. The higher the price, the greater the incentive to produce and sell the product.

11. Form adjectives with the help of suffixes:

-al: economic, nation, production, education, profession.

-able: to change, to exchange, to read, fashion, mistake.

12. Form adverbs with the help of the suffix «-ly»:

economical, political, different, rapid, definite, historical, complete, formal, practical, particular.

13. Read the text and retell the contents in Russian:

William Gates

Gates, William Henry, III (1955- ), American business executive, chairman and chief executive officer of the Microsoft Corporation, born in Seattle, Washington. Gates cofounded Microsoft in 1975 with Paul Allen, his high school friend and partner in computer language development from 1967. Fascinated by computers by the age of 12, Gates had been involved with various programming projects throughout high school. While attending Harvard in 1975, Gates teamed with Allen to develop a version of the BASIC computer programming language for the MITS Altair, the first personal computer. This work on BASIC for the Altair led Gates to drop out of Harvard in 1977 to pursue full-time his vision of «a computer on every desk and in every home,» the idea behind the Microsoft Corporation. In the early 1980's, Gates led Microsoft's evolution from a developer of computer programming languages to a diversified computer software company producing computer operating systems and applications software as well as programming tools. This transition began with the introduction of MS-DOS, the operating system for the new IBM Personal Computer in 1981. Gates took a personal role in convincing other computer companies to standardize on MS-DOS, fueling computer industry growth in the 1980's through software compatibility. Gates also pushed Microsoft toward the introduction of application software such as the Microsoft Word word processing software for the IBM-PC. A key strategic move by Gates was to agree to develop application software for the Apple Macintosh prior to the release of the first Mac in 1984. This led to a strong position for Microsoft in applications that take advantage of the graphical user interface (GUI).

Much of Gates' success rests on his ability to translate technical visions into market strategy, and to blend creativity with technical acumen. His willingness to bet on new technologies such as Microsoft Windows, Windows NT, and workgroup applications has paid off in keeping Microsoft at the forefront of computer hardware and software evolution.

Unit 6

Retailing has undergone even more change. Intensive preselling by manufacturers and the development of minimum-service operations, for example, self-service in department stores, have drastically changed the retailer's way of doing business. Supermarkets and discount stores have become commonplace not only for groceries but for products as diversified as medicines and gardening equipment. More recently, warehouse retailing has become a major means of retailing higher-priced consumer goods such as furniture, appliances, and electronic equipment. Chain stores-groups of stores with one ownership-and cooperative groups have also proliferated. Special types of retailing, for example, vending machines and convenience stores, have also developed to fill multiple needs.

II. Exercises on the Text:

3. Give Russian equivalents to:

direct sale from manufacturer to consumer; durable equipment; consumer specialties; household needs; direct marketing by mail; usual trading area; high-priced items; mail-order divisions; also carving its own niche; for resale; to call for a lower margin of profit; to undergo even more change; self-service;have drastically changed; warehouse retailing; higher-priced consumer goods; to fill multiple needs.

4. Compose the questions, using the following words:

products, are, what, by direct sale, marketed?

it, who, easy, to shop by catalog, finds'?

have, what, relatively, it, easy, by mail or telephone, made, to purchase?

leading corporations, have, how many, mail-order-divisions?

television, why, is, direct marketing, a potent tool, in?

is, telemarketing, what?

grown, why, so large, some retail business, have?

wholesalers, how, to this trend, did, first, respond?

undergone, even more change, has, retailing?

become, more recently, has, a major means of retailing higher-priced consumer goods, what?

III. Grammar Exercises

Active Voice

5. Read the sentences with adverbs of frequency

Read the same in the 3rd person singular.

6. Translate the following sentences paying attention to the different usage of Perfect Tenses:

Economic monopolies have existed throughout much of human history.

The success of specialized marketing developments has caused many older organizations to revise their operating methods.

Keynes's ideas have profoundly influenced the economic policies of many governments since World War II.

The Titanic had already gone down when another ship arrived.

Some passengers had been in the icy water for hours when they were saved.

When another ship arrived, about 1500 people had already lost their lives.

Ecological concerns will have affected product design and marketing.

By the end of the year the company will have signed this contract.

Who will have finished first?

How much will they have won?

7. A manager went away on business. He left of things to be done. He is back now. Arrange a conversation between him and one of his employees. Study the list. Follow the model.

The list of things to be done:

1. Contact the joint-stock company P-A.

2. Send a telex to Lamberton Robotics.

3. Telephone Mr. Green.

4. Sign the contract for the delivery of equipment.

5. Take the customer's representatives to the plant.

6. Take part in the talks with the British customer.

Model:

A. Have you telephoned Mr. Green?

B. Yes, I have.

A. When did you telephone him?

B. I telephoned him last week.

A. That's good /fine/ O.K.

Use of the verb «let».

8. Complete the sentences:

1. Let's increase...

2. Let me determine...

3. Let me supervise...

4. Let her discuss...

5. Let the wholesalers...

6. Let the small retailers...

9. Translate the following sentences:

1. When he comes to the office he will call the company.

2. We'll get in touch with them as soon as the goods are delivered.

3. We will clear up the point before he leaves.

4. He couldn't come to the lecture because he was ill.

5. He walked slowly for he was not in a hurry.

6. As there were no more questions the chairman thanked the reporter for his interesting report.

7. They thought that the bell had rung.

10. Form nouns with the help of the suffixes:

-ant: to emigrate, to dominate, to consult, to participate, to account.

-ese: China, Japan, Sudan.

- ian|-an: statistics, Russia, America, Hungary, Bulgaria, Brazil.

11. Translate English jokes:

A famous Hungarian physicist had just finished reading his scientific paper. It was the first time he had ever made a report in English. After he had finished an American physicist came up to him.

«Say, in what language did you read your paper?»

«Didn't you understand that?»

«Well, yes, of course. But why did you put in so many English words?»

12. Read the text and retell the contents in Russian

Text. Territorial and Administrative Division of Government in the United Kingdom

In Great Britain the county, or shire, is the principal subdivision of the country for political, administrative, judicial, and other purposes. Counties are used in England and Wales but have been replaced by other administrative units in Scotland and Northern Ireland.

Before the Norman Conquest of the 11th century, the chief unit of local government in England was the shire, which had originated in the Saxon communities of the 5th century. Each shire was ruled by an ealdorman (alderman), but after the 11th century his functions were taken over by the shire-reeve, or sheriff, who was appointed by the king. By the 14th century a county court, composed of several justices of the peace, or magistrates, had developed to help the sheriff administer the county. Over the centuries these crown-appointed magistrates gradually became the primary administrators of counties. Each county also became the constituency for the elections of knights of the shire, or county members of Parliament.

This system of county government, with centrally appointed justices of the peace holding legislative, judicial, and executive powers, became inadequate in the 19th century as the suffrage was extended, government services expanded, and industrial cities continued to grow. To remedy this undemocratic system, the Local Government Act of 1888 established county councils, with members elected by local residents, to take over the legislative and executive duties of the magistrates. The act also replaced the historic counties with new administrative counties, which often had different boundaries. The act also created about 60 county boroughs; these were cities that were given county powers in order to better provide local government services.

The Local Government Act of 1972 reorganized the county system again; 47 new counties contained all urban as well as rural areas in their boundaries, and each county was subdivided into several districts, which numbered almost 300 in all. A British county provides police and fire services, education, social-welfare services, public transport, traffic regulation, consumer protection, libraries, and some highways and parks. The county council is the general governing board of a county; it is a large body, with 50 to 100 popularly elected members, and much of its basic administrative work is delegated to committees.

Outside the United Kingdom, the system of county government was adopted, with variations, in most of the countries settled from Britain. In Canada, however, the county system never became universal; where it exists, the county councils are generally much smaller than in England. New Zealand has had county councils since 1876. In Australia the administrative unit is generally called the shire, though the name county is used for larger areas.

(From the Encyclopaedia)

Unit 7

Production management's responsibilities are summarized by the "five M's": men, machines, methods, materials, and money. "Men" refers to the human element in operating systems. Since the vast majority of manufacturing personnel work in the physical production of goods, "people management" is one of the production manager's most important responsibilities.

The production manager must also choose the machines and methods of the company, first selecting the equipment and technology to be used in the manufacture of the product or service and then planning and controlling the methods and procedures for their use. The flexibility of the production process and the ability of workers to adapt to equipment and schedules are important issues in this phase of production management.

The production manager's responsibility for materials includes the management of flow processes-both physical (raw materials) and information (paperwork). The smoothness of resource movement and data flow is determined largely by the fundamental choices made in the design of the product and in the process to be used.

The manager's, concern for money is explained by the importance of financing and asset utilization to most manufacturing organizations. A manager who allows excessive inventories to build up or who achieves level production and steady operation by sacrificing good customer service and timely delivery runs the risk that overinvestment or high current costs will wipe out any temporary competitive advantage that might have been obtained.

II. Exercises on the Text:

3. Give English equivalents to:

подобная по уровню и объему; человеческие ресурсы и управление финансовой деятельностью; вопросы, включающие производственные мощности и качество; ответственность за управление произ-водством; подавляющее большинство; «взаимоотношения с людьми»; методы и действия для их использования; гиб-кость производственного процесса; как физические, так и информационные; плавность движения ресурсов и посту-пления данных; временное конкурентное преимущество.

4. Answer the following questions:

What is operations management?

What does production management include in manufacturing operations?

What are the «five M's»?

Why is «people management» one of the production manager's most important responsibilities?

How must the production manager choose the machines and methods of the company?

In what phase of production management the flexibility of the production process is an important issue?

What does the production manager's responsibility for materials include?

How is the manager's concern for money explained?

What manager runs the risk?

Will high current costs wipe out any temporary competitive advantage?

III. Grammar Exercises

A. - Sam.

B. - Who? I don't hear.

A. - I say Sam: Sid, Ada, Mary. Do you hear?

B. - Yes, I do. But which of three is speaking?

Mother: Well, what is Mary doing?

Jane: Well, if the ice is as thick as she thinks, she is skating, but if the ice is as thin as I think, she is swimming.

Unit 8

Grammar: 1. Правила согласования времен. Косвенная речь.

I. Language Practice

1. Practise the fluent reading and correct intonation:

`Are you `going to the shop?

Yes, I am. No, I am not.

`Are you `waiting for a taxi or for a bus.

I am `waiting for a bus.

`What are you doing?

I am `reading a magazine.

`What `magazine are you reading?

I am `reading an `English magazine.

`Where are you going?

I am `going to the theatre.

`Who is `going to the theatre with you?

My `friend is.

`Why are you sitting here?

I'm `sitting because I'm tired.

`What were you `doing when I `came in?

I was `looking for my `new slides.

2. Listen to the speaker; read and memorize the following words and phrases:

hardware store - магазин скобяных товаров

sophomore [`sfm:] - студент-второкурсник

stock - склад

job market - рынок труда

supervisor - контролер

employee [empli`i:] - служащий

inventory - инвентаризация

skill - умение, практический опыт

to hint - намекать

establish - основывать

loan - кредит

labor coast - издержки на оплату рабочей силы

in the long run - впоследствии

promotion - продвижение по службе

incentive - стимул

Text A. How Competition Benefits Us All.

In a competitive market, producers constantly strive to reduce their production costs as a way to increase profits. The increased efficiency that allows them to reduce their costs also enables producers to sell their goods at a lower price. Thus, by promoting efficiency, competition leads to lower prices.

Competition also motivates producers to improve the quality and increase the variety of goods and services. Consumers soon learn which brand offers the best value, and that firm will earn greater profits than its competitors. Similarly, producers in a competitive market must constantly look for new and attractive goods and services to win a larger share of the market.

As firms compete for consumer's dollar in a market, their efforts lead to the production of a variety of better-quality products at the lowest possible prices. And since we are all consumers, it follows that competition benefits us all.

Text B. Competition in Many Markets: An Example.

On weekends during the school year and in the summer, David Scott works in a small local hardware store. When he began his job, as a sophomore, he was a stock clerk, and he thought himself lucky to have any job. Each year there had been a lot of competition for jobs in his city, especially in May and June when college students entered the local job market. In the spring of his senior year David decided to be more selective about where he worked and how much he earned. He decided to ask his boss for a raise to become a supervisor of the younger employees at the store.

He told his boss that since he learned the computer-assisted inventory and ordering system and other special skills he was more valuable, and should be paid accordingly. He hinted that he might seek employment elsewhere. Another store in town was advertising for someone with his skills.

David's boss, Jay Richards, the entrepreneur who had established the small hardware store two years earlier, faced competition every day. Since starting his business, he had been in competition with other buyers and sellers in the marketplace. He competed with other buyers when he purchased the land for his store. He competed with other borrowers when he applied for his bank loan. He competed every week for the best deals on the goods he bought from his wholesalers. Jay knew that he also had to compete for customers with other hardware stores.

One of his major expenses was labor. He had to keep his labor costs down to meet his other expenses and earn a profit. He knew that David would cost him more, but he decided to pay him the higher wage because David had acquired skills that made him more productive. Jay reasoned that David's experience and knowledge would help the business to save money in the long run.

Supply and Demand.

David was also free to sell his labor somewhere else. He could have competed with others for another job. From the newspaper ad he knew at least one other job was available. Maybe there were others. He wasn't sure. He also wasn't sure about the supply of other workers with his skills. He wondered whether he would get the raise and promotion if there were lots of people who could do the job.

David's boss was also free to interview and hire other workers. In their own ways David and Jay were both trying to get what each thought would be best. They were competing.

Profit Motive and Competition.

Competition drives Jay Richards to do what he can to reduce costs and increase sales in order to increase profits. Of course, his competitors will be doing this too. They also want to earn the greatest profits. The profit motive (the efforts to maximize profits) is free enterprise's most important incentive.

II. Exercises on the Text:

3. Text A. Give English equivalents to:

производители пытаются сократить издержки производства; дает возможность производителям продавать свои товары; путем повышения эффективности; конкуренция побуждает производителей; эта фирма получит большую прибыль; искать новые и привлекательные товары и услуги; конкуренция приносит пользу всем нам.

4. Text B. Ask questions for these answers (work in pairs):

David Scott usually works on weekends during the school year in summer.

He was a stock clerk.

It was in May and June because college students entered the local job market.

He was going to become a supervisor of the younger employees at the store.

He learned the computer-assisted inventory and ordering system and other special things.

Another store in town was advertising for someone with his skills.

He had established the small hardware store two years earlier.

He had been in competition with other buyers and sellers.

When he purchased the land for his store.

Yes, he did. He competed with other borrowers.

Yes, he did. He knew that he also had to compete for customers.

Because David had acquired skills that made him more productive.

5. Combine the words into sentences. Translate them into Russian.

could, his labor, David, else, sell, somewhere.

one other job, knew, from the newspaper ad, he, was available, at least.

who, there, many people, were, the same job, do, could.

entrepreneurs, always, and, competing, employees, are.

wanted, to reduce, in order to increase, Jay Richards, costs, and, profits, increase sales.

incentive, the profit motive, most important, is free, enterprise's.

III. Grammar Exercises

I hope your friend will come and see us on Sunday.

I hoped...

This statistician thinks he will get the latest data.

This statistician thought...

My friend is sure his profession is better than mine.

My friend was sure...

I think they televise international economic events.

I thought...

The manager believes that the work was done thoroughly.

The manager believed ... and so he didn't check it himself.

Mother was sure that her son made good progress at the institute.

Mother was sure ... since the holiday.

We are afraid the firm won't earn great profits.

We were afraid...

I am happy they call me up now and then.

I was happy...

7. Translate the following sentences paying attention to the Sequence of Tenses:

I asked Mr. Olegov where he lived.

He said that he lived in Moscow.

He told me that he worked at a large plant and described where the plant was.

I told him that I knew the plant because I had worked there for about two years.

I said that I didn't work there any longer because I was studying at the Institute of Finance and Economics.

Mr. Olegov asked me if I knew the economists working at the plant.

I told him that I knew most of them.

He told me that the plant had greatly increased its production and was producing almost three times more goods than four years ago.

The other day the manager was asked if he would introduce the new machine constructed by one of the workers with the help of the engineers.

He answered that he would do it as soon as the tests were completed.

Indirect Speech.

При обращении прямой речи в косвенную происходит следующая замена наречий места, времени и указательных местоимений.

Special Questions

General Questions

8. Put the verbs in brackets into their correct forms:

1. I thought that you (to arrive) at some decision.

2. I believed that a long-term loan (to be) absolutely necessary for that program.

3. I didn't know if you (to apply) for this job.

4. They said they (to work) seven hours a day.

5. Did he say that there (to be) a lot of problems with this agreement?

6. The manager said that we (to need) to reduce the amount of corporate income tax.

9. Change the direct speech into indirect speech:

1. The manager asked, «Does this project require long term financing?»

2. The director asked, «Are we repaying debts in due time?»

3. He asked, «Did this debt carry interest?»

4. The head of the company asked the Board of Directors, «Are we able to repay the loan?»

5. The manager asked the customer, «Can you wait a little longer?»

6. The customer asked, «Were the terms specified in any agreement?»

10. Translate the following sentences:

1. Markets provide a kind of economic polling booth for buyers to cost their votes for the goods and services they want.

2. Promotion is a key part of marketing because it is the way business get their messages to consumers.

3. Economists focus on the way in which individuals, groups, enterprises and governments seek to achieve efficiently any economic objective they select.

4. Let's suppose that you recently managed to save enough to buy the CD player you always wanted.

11. Translate the sentences:

1. The railways of Russia are much longer than those of England.

2. The climate of the Crimea is warmer then that of the Ural.

3. Our resources of oil are greater than those of Poland.

4. The rivers in the West of our country are not so long as those in the Eastern part.

12. Translate the following. Try to understand the meaning of suffixes:

Example: watch (N) - watchful (A)

наблюдение - наблюдательный

life (N) - lifeless (A)

жизнь - безжизненный

1. a sleepless night; 2. moonless night; 3. childless family; 4. helpless people; 5. wonderful evening; 6. a starless black sky; 7. a watchful man; 8. landless farmers; 9. a jobless man; 10. a powerful monopoly; 11. a hopeful project; 12. a painful problem.

13. Translate English jokes.

The young candidate for admission to the navy was being given a test to determine his general education. One of the questions puts to him was: «What kind of animals eat grass?» The young man fidgeted and looked out of the window, but apparently could think of no answer.

«Come, come», said the admiral who was examining him, «Surely, you can answer a simple question like that: what kinds of animals eat grass?»

The boy brightened up. «Animals!» he exclaimed, «I thought you said admirals.»

Unit 9

Grammar: 1. Passive Voice.

I. Language Practice

1. Practise the fluent reading and correct intonation:

-- Hello, Tom!

-- Hello, Nick . Here you are at last. `What have you been doing all this `time?

-- You see. I've been `awfully busy `all this week. I've `got a  new job.

-- `What `sort of job?

-- I'm an `assistant at a lab.

-- ,Congratu`lations, old chap! The `work must be very  interesting.

-- Oh yes, it is.

-- `What is the `salary?

-- The same as `that of `all the other assistants. `Quite enough to live on and to put by a little.

2. Read and translate. Mind stress and pronunciation in the following nouns and verbs.

export import progress record transport

`expo:t n `impo:t n `proures n `reko:d n `tr nspo:t n

eks`po:t v im`po:t v pr`gres v ri`ko:d v tr ns`po:t v

conflict increase outlay produce retail

`knflikt n `inkri:s n `autlei n `prdju:s n `ri:teil n

kn`flikt v in`kri:s v aut`lei v pr`dju:s v ri:`teil v

3. Listen to the speaker; read and memorize the following words and phrases:

partnership - компания, товарищество

common law - общее право

civil law - гражданское право

to be entitled - иметь право

to provide - предусматривать

dormant partner - пассивный партнер

to be liable for smb's debts - нести ответственность за чьи-либо долги

obligations - обязательство

incur - нести, навлекать на себя что-либо

to invisage [in`vizi] - рассматривать

shareholder - акционер

board of directors - правление директоров

regime [rei`i:m] - зд. система правления

managing director - директор-распорядитель

to authorize - уполномачивать

to appoint - назначать

general supervision - общий надзор

issue - выпуск

share - акция

bond - облигация

borrowing - заем

executing officer - управляющий делами

treasurer - амер. заведующий

to confide to - поручать кому-либо

remuneration - оплата, заработная плата

to dismiss - увольнять

to vest powers - наделять полномочиями

Text. Management and Control of Companies

The simplest form of management is the partnership. In Anglo-American common-law and European civil-law countries, every partner is entitled to take part in the management of the firm's business, unless he is a limited partner; however, a partnership agreement may provide that an ordinary partner shall not participate in management, in which case he is a dormant partner but is still personally liable for the debts and obligations incurred by the other managing partners.

The management structure of companies or corporations is more complex. The simplest is that envisaged by English, Belgian, Italian, and Scandinavian law, by which the shareholders of the company periodically elect a board of directors who collectively manage the company's affairs and reach decisions by a majority vote. Under this regime it is common for a managing director (directeur gйnйral, direttore generale) to be appointed, often with one or more assistant managing directors, and for the board of directors to authorize them to enter into all transactions needed for carrying on the company's business, subject only to the general supervision of the board and to its approval of particularly important measures, such as issuing shares or bonds or borrowing. The U.S. system is a development of this basic pattern. By the laws of most states it is obligatory for the board of directors elected periodically by the shareholders to appoint certain executive officers, such as the president, vice president, treasurer, and secretary. The latter two have no management powers and fulfill the administrative functions that in an English company are the concern of its secretary; but the president and in his absence the vice president have by law or by delegation from the board of directors the same full powers of day-to-day management as are exercised in practice by an English managing director.

The most complex management structures are those provided for public companies under German and French law. The management of private companies under these systems is confided to one or more managers (gйrants, Geschдftsfьhrer) who have the same powers as managing directors. In the case of public companies, however, German law imposes a two-tier structure, the lower tier consisting of a supervisory committee (Aufsichtsrat) whose members are elected periodically by the shareholders and the employees of the company in the proportion of two-thirds shareholder representatives and one-third employee representatives (except in the case of mining and steel companies where shareholders and employees are equally represented) and the upper tier consisting of a management board (Vorstand) comprising one or more persons appointed by the supervisory committee but not from its own number. The affairs of the company are managed by the management board, subject to the supervision of the supervisory committee, to which it must report periodically and which can at any time require information or explanations. The supervisory committee is forbidden to undertake the management of the company itself, but the company's constitution may require its approval for particular transactions, such as borrowing or the establishment of branches overseas, and by law it is the supervisory committee that fixes the remuneration of the managers and has power to dismiss them.

The French management structure for public companies offers two alternatives. Unless the company's constitution otherwise provides, the shareholders periodically elect a board of directors (conseil d'administration), which "is vested with the widest powers to act on behalf of the company" but which is also required to elect a president from its members who "undertakes on his own responsibility the general management of the company," so that in fact the board of directors' functions are reduced to supervising him. The similarity to the German pattern is obvious.

Dutch and Italian public companies tend to follow the German pattern of management, although it is not expressly sanctioned by the law of those countries. The Dutch commissarissen and the Italian sindaci, appointed by the shareholders, have taken over the task of supervising the directors and reporting on the wisdom and efficiency of their management to the shareholders.

II. Exercises on the Text:

4. Give Russian equivalents to:

every partner is entitled to take part in; a partnership agreement may provide; he is a dormant partner; personally liable for debs and obligations; who collectively manage the company's affairs; by a majority vote; under this regime; to enter into all transactions; approval of particular important measures; issuing shares or bonds; by the law of most states; to appoint certain executive officers; to fulfill the administrative functions; the same full powers of day-to-day management;

the management of private companies; in the case of public companies; a two-tier structure; supervisory committee; two-third shareholder representatives and employees; the affairs of the company; which can require information or explanations; to forbid to undertake the management; approval for particular transactions; establishment of branches overseas; to fix remuneration ; to offer two alternatives; on behalt of the company; the similarity is obvious; it is not expressly sanctioned by the law; reporting on the wisdom and efficiency.

5. Ask questions for these answers (work in pairs):

Every partner is entitled to take part in the management of the firm's business.

The management structure of companies or corporations is more complex.

The company periodically elects a board of directors.

They reach decisions by a majority vote.

Particularly important measures are issuing shares or bonds or borrowing.

Yes, it is. The U.S. system is a development of this basic pattern.

The board of directors appoints certain executive officers.

The treasurer and secretary fulfill the administrative functions.

The most complex management structures are in Germany and France.

It is confided to one or more managers.

German law imposes a two-tier structure in the case of public companies.

The affairs of the company are managed by the management board.

It must report to the supervisory committee.

The supervisory committee is forbidden to undertake the management of the company itself.

It fixes the remuneration of the managers.

The French management structure offers two alternatives.

Yes, it is. A board of directors «is vested with the widest powers to act on behalt of the company».

The board of director's functions are reduced to supervising the company.

They have taken over the task of supervising the directors.

6. Read, translate and analyze the scheme:

Organization of a Corporation

III. Grammar Exercises

Formation of the Passive Tense Forms

7. State the tense and voice form of the verbs:

can be divided; are owned; will be used; was provided; has been expanded; is made; might have been obtained; shall be asked; is being done; have been translated; should be called; were being built; was followed; had been closed; will have been helped; would have been called.

8. Translate the sentences into Russian:

1. Don't put on that funny hat. You will be laughed at. 2. I hope my work will be approved of. 3. Our professor is always attentively listened to. 4. In producing these things the new synthetic material has been made use of. 5. His words were not taken notice of. 6. Will the results of our work be referred to by? 7. The proposal was objected to by. 8. She has always been well spoken of. 9. All the new data have been looked through with great attention. 10. Where have you been? You have been looked for everywhere.

9. Give the corresponding passive construction:

1. They will insist on your arrival. 2. They told us very interesting news. 3. They do not allow people to own this plot of land. 4. They asked me to take part in this conference, but I refused. 5. This boy told a lie once, therefore nobody believes him now. 6. They speak much of every new achievement in computer programmes. 7. I don't think you pay much attention to the obligations of your company. 8. Nobody wondered at the excellent results of this business enterprise. 9. Have you sent for the managing director? 10. They gave us all necessary information. 11. I looked for the warranty card everywhere, but I could not find it anywhere. 12. This executive officer took great care of the advertising of their products.

10. Translate the following into Russian:

Since the beginning of that extraordinary era of economic progress ushered in by the Industrial Revolution, old ways of conducting business have been modified, and new forms of business organization have been introduced.

Unless an activity is specifically prohibited by law, no line of business is closed to an owner.

Unless a limited partnership has been established, all parties equally share the burden of loss and debts.

Some products are marketed most effectively by direct sale from manufacturer to consumer.

Simple transactions are completed by clerks.

Displays must be supplied and set up, and cooperative advertising programs may be worked out.

Store clerks should be trained in a knowledge of the manufacturer's products.

The production plan must be made to meet fluctuating market demands.

Workers must be hired, trained, and assigned in synchronization with the changing production processes and schedules.

Commodity analysis studies the ways in which a product or product group is brought to market.

Forms of the Infinitive

11. Define the form of the Infinitive:

to manage; to be informed; to have been over; to be improving; to have been entering; to be investigated; must be raining; shall discuss; to have been taken.

12. a) Form verbs using the suffix -en:

wide, deep, broad, strength, length, sharp, moist.

b) Form verbs from the following nouns using the suffix -ize:

victim, sympathy, patron, character, organ.

c) Form nouns from the following nouns and adjectives using the suffix -ism:

race, communist, capital, social, feudal, nominal.

13. Read the text and retell it in Russian:

Paul Samuelson (1915-) And Milton Friedman (1912-)

Two Views of the Proper Role of Government in the Economy

Paul Samuelson and Milton Friedman are two of America's most distinguished economists. In recognition of their achievements, Samuelson was awarded the Nobel Prize in Economics in 1970 and Friedman in 1976. Both spent most of their professional lives on the faculty of major universities (Samuelson at the Massachusetts Institute of Technology, and Friedman at the University of Chicago). Given their similarities, one would think that the two would also hold similar views on economic issues. Nothing could be further from the truth. And, some of their sharpest differences center on the question of what ought to be the proper role of government in the economy.

Classical economists in the tradition of Adam Smith had long recognized the need for government to provide goods and services that would not or could not be provided by the private sector (like national defense). But they urged that this participation be kept to a minimum.

But Samuelson argued that too many of the problems the classical economists wanted to leave to the marketplace were not subject to its influence. These externalities, affecting things like public health, education, and environmental pollution, were not subject to the laws of supply and demand. Consequently, it was up to government to establish goals for the economy and use its powers to achieve them.

Milton Friedman sees things differently. Like the classical economists of old, he regards supply and demand as the most powerful and potentially beneficial economic forces. The best that government can do to help the economy, in Friedman's view, is to keep its hands off business and allow the market to "do its thing." The minimum wage laws are a case in point. Whereas Samuelson endorses minimum wage laws as a means of helping workers at the bottom of the income ladder, Friedman would argue that by adding to unemployment, they harm the very people they were designed to help. That is, he explains, by increasing labor costs, minimum wage laws make it too expensive for many firms to hire low-wage workers. As a result, those who might otherwise be employed are laid off.

On the one hand, Samuelson endorses the concept of government-sponsored programs such as public housing and food stamps as a means of reducing poverty. Friedman, on the other hand, would prefer to give the poor additional income and allow them to use the funds to solve their problems without government interference. To apply this concept, Friedman suggested the "negative income tax." The graduated income tax takes an increasing amount in taxes as one's income rises. The negative income tax would apply a sliding scale of payments to those whose income from work fell below a stated minimum.

Unit 10