Министерство образования Пензенской области
Государственное бюджетное образовательное учреждение
среднего профессионального образования Пензенской области
« Каменский колледж промышленных технологий и предпринимательства»
Учебно-методическое пособие по английскому языку
для студентов экономических специальностей СПО
«Учебно-методическое пособие по английскому языку для студентов экономических специальностей СПО» Каменка, 2012 22 стр.
Председатель цикловой комиссии
общих гуманитарных дисциплин
_________________ Балашова Т.И.
Протокол №____ от ___________
Составитель : Тормина И.В. , преподаватель немецкого и английского языков
1 квалификационной категории ГБОУ СПО ККПТП
Данное учебно-методическое пособие составлено для студентов экономических специальностей и является дополнительным источником изучения и закрепления спецлексики. Пособие содержит глоссарии к каждому юниту, а также лексико- грамматические упражнения в виде тестов.
Пособие имеет чёткую структуру и состоит из 10 юнитов. После изучения данного материала студентам предлагаются контрольные тесты для проверки усвоенных знаний. Данный материал можно использовать при составлении графиков, диаграмм, творческих работ. Упражнения и задания пособия позволяют активизировать мыслительную деятельность студентов, способствуют развитию навыков систематизации и обобщения изученного материала.
Пояснительная записка 4
Учебно-методическое пособие 5
Контрольные тесты 17
Данное пособие составлено в соответствии с рабочей программой по
дисциплине «Английский язык» и календарно-тематическим планом. Оно
предназначено для изучения английского языка для студентов по специальности: «Экономика и бухгалтерский учет » и является дополнительным источником специальной лексики по следующим темам: «Экономическая теория», «Спрос и предложение», «Экономические системы», «Денежная и налоговая политика государства», «Инфляция. Безработица», «Экономические циклы» и др. Пособие имеет четкую организационную структуру: состоит из 10 уроков, каждый из которых включает основные экономические тезисы по темам учебника, активную лексику, упражнения и задания в виде проверочных тестов.
Большое внимание уделяется упражнениям по изучению специальной лексики и экономической терминологии, что поможет студентам, в будущем экономистам , по специальности работать со специальной литературой, пользоваться Интернет-ресурсами и овладеть английским языком в областях экономики.
Пособие рассчитано на изучение английского языка студентами 2х и 3х курсов учреждений среднего профессионального образования .
LESSON I ( Unit 1-2)
1 The science of economics studies business, production, trade, inflation, unemployment and the decisions that we, governments and companies take every day.
2 While microeconomics studies how companies and households run their business, macroeconomics looks at the economy of a country as a whole.
3 Economic resources include both material things such as raw materials, housing and others, as well as non-material things, for example, time.
4 Every day we make many decisions and each is a trade-off between different resources.
5 Economists collect data and on the basis of this data they create economic models.
6 Economic models show relationships between different processes in the economy.
7 Adam Smith, 'the father of modern economics', considered that a nation's wealth depended on its ability to produce goods.
1 Economists test theories using empirical evidence. It is evidence that can be collected and measured.
2 This theory deals with factors such as inflation, taxes, salaries and unemployment.
3 Governments, companies and academics use econometrics to make correct decisions, find out relationships between variables, etc.
4 Some variables are considered over a period of time. Such analysis is called time-series.
5 According to the law of demand as the price for the good rises, the demand for it falls.
6 Price elasticity, the price/demand relationship, helps to set prices at the correct level in the given market for a particular time.
7 Some other factors apart from price affect demand, and that causes a shift in the demand curve.
Ex 1. Fill the gaps with the following words:
to study, use, since, efficient, deals with, equipment, resources
Economics (1) the problems of scarcity and choice that have faced societies and nations throughout history, but the development of modern economics began in 17th century. (2) the time economics have developed methods for studying and explaining how individuals, businesses and nations (3) their available economic (4). Large corporations use economists (5) the ways they do business and to suggest methods for making more (6) use of their employees, (7), factories and other resources.
Ex 2. Translate into English and mach with English equivalents:
Тратить деньги налогоплательщика
Ни общество, ни каждый из его членов
Сталкиваться с проблемой дефицита
Доступные экономические ресурсы
Товары и услуги
neither individuals, not society
is faced with the problem of scarcity
to make choice
available economic resources
to spend taxpayer’s money
goods and services
Ex 3. Match with English and Russian equivalents:
wildlife and timber resources
goods and services
factors of productions
живая природа и древесина
товары и услуги
LESSON II (Unit 3-4)
1 To make a higher profit the seller has to raise his price and reduce his production costs.
2 In the market economy companies have to compete with each other for a share of the market.
3 Today, in our lives and in the economy, money, coins, banknotes and credit cards playa very important role.
4 In the traditional economy people hunted and gathered and had no property. Land was shared by the whole tribe. Division of labour first appeared here.
5 Any economic system has its benefits and drawbacks. The biggest drawback of the traditional economy is the fact that people consume almost everything they produce.
6 The market economy is not controlled by a government. Competition, which helps to control prices and quality, exists in a free market.
7 A truly free market economy cannot exist as all governments control the economy to some extent by setting limits.
1 In the market economy supply and demand decide everything; its direct opposite is the planned economy.
2 In a planned economy a government decides what is produced, how much is produced and how and at what price it is sold.
3 In the world there is no perfect economic system. Market economies have their strengths, but they also have drawbacks. In planned economies governments can make sure that everyone can afford basic commodities.
4 Planned economies have problems with supply as it is difficult to calculate how much to produce and how high a demand to expect. People have to hoard different goods and shortages of goods become common.
5 In many countries privately-owned businesses exist alongside state-run industries, which need protection from free market competition for their development.
6 Deregulation leads to increased competition and the influence of market forces.
7 Governments may put limits on free enterprise by banning trade in various goods, preventing monopolies and protecting consumers and the environment.
Ex 1. Complete the sentences with the following words:
prices, products, services, wages, consumers, employers, profits
Workers are paid ____ by ____ according to how skilled they are.
They spend their ____ on the ____ and ____ they need.
Firms producing these ____ will make more ____.
In a market economy ____ decide what is to be produced.
____ will be willing to pay high ____ for products they particularly desire.
Ex 2. Choose the right variants:
Market economics is also called:
Mixed economics contains:
market economics only;
planned economics only;
both market and planned economics.
____ does not allow people to make decisions in business.
All economics in the world are:
In a mixed economy the government:
refuse private sectors;
cooperate with private sectors;
control private sectors.
LESSON III ( Unit 5-6)
1 If you have a great deal of money and want to buy something, you always face a budget constraint.
2 The utility of a bundle depends on the utility of each good and its quantity.
3 ;widows: 0; orphans: 0"> 4 Costs are money spent to manufacture goods or provide services. For example, rent, interest on loans, cost of electricity and raw materials.
5 Fixed costs change neither in the short term nor with increases in production.
6 Variable costs change with the size of production. An example of such costs is the quantity of raw materials needed for production of the goods.
7 An economy of scale is a situation in which variable costs rise much more slowly than the size of production.
1 Market structure is connected with competition. It affects the price.
2 A market of perfect competition has a number of features. There must be many competing companies, supplying one and the same good or providing one and the same service; all customers and companies must have complete information on the market; there must not be any barriers to new companies entering the market.
3 If we speak about a market of perfect competition, it is important that all companies should have access to technology and resources.
4 In a market of perfect competition there are many companies, but none of them are able to control prices.
5 In a monopoly the market share of one of the companies is so great that the rest are not able to compete.
6 As a rule, monopolies are not good for consumers as they are price-makers.
7 Besides natural monopolies, some monopolies can be created in more aggressive ways by takeovers of other companies.
Ex 1. Choose the correct word of phrase:
If you are in a hurry, it can be difficult to make a maximum / rational decision.
The amount of money you have to spend is your budget constraint / deciding factor.
The maximum / rational speed limit on this road is 120 kilometers per hour.
Quality is often the deciding factor / budget constraint when people choose something to buy.
Some people calculate / assume how much they spend every week.
Green is a combination / an alternative of yellow and blue.
When you buy something from a shop, you make a purchase / budget constraint.
When you calculate / assume something is true, you guess that it is true.
The use or satisfaction you get from something you buy is called utility / purchase.
Olive oil is a healthy alternative / combination to butter.
Ex 2. Decide whether these statements are true or false:
Market structure describes how competitive a market is. T/F
Perfect competition and pure monopoly are opposites. T/F
Four conditions are necessary for perfect competition to exist. T/F
In perfect competition, every company makes a slightly different product. T/F
Perfect competition makes it easy for new companies to start trading. T/F
When there is perfect competition, companies are able to set any price they want. T/F
LESSON IV (Unit 7-8)
1 The market where employers buy workers' service for wages is called the labour market.
2 Increased output is the utility which employers get from their purchase of labour.
3 All markets, including the labour market, obey the laws of supply and demand.
4 The labour demand curve may shift to the right and to the left. If, for example, the demand increases as a result of increased production, or decreases thanks to any new technology which can replace workers.
5 One of the trade-offs we have to make in our lives is to find the right balance between work time and leisure time.
6 Natural limits such as sleep and rest bring down the possible number of working hours. We need some time to switch off from work, which also decreases working time.
7 If the hourly rate increases, people want to work longer hours. This is called the substitution effect. But the effect also has a limit.
1 The factors of production are required to produce goods. These are land, labour and capital.
2 Land as a factor of production includes everything that nature provides and which may be used for production.
3 An educated, skilled and fit workforce is more productive; that is why education and healthcare play an important role in the economy.
4 Capital includes factories, warehouses, equipment, tools and computers; everything that is used in the manufacturing process.
5 At present industry is becoming more capital intensive and less labour intensive.
6 Division of labour and specialization make the manufacturing process more efficient and productive.
7 Workers perform their operations automatically. This speeds up the productivity of the labour force and improves the quality of their work.
Ex 1. Fill the gaps with the following words:
“return or reward”, nature, rent, include, each, factors of production
The resources that go into the creation of goods and services are called the (1). The factors of production include natural resources, human resources, capital and entrepreneurship. (2) factor of production has a place in the economic system, and each has a particular function. People who own or use a factor of production are expecting a (3).
Natural resources are the things provided by (4) that go into the creation of goods and services. They (5) such things as minerals, wildlife and timber resources. Economists also use the term “land” when they speak of natural resources as a factor of production. The price paid for the use of land is called (6). Rent becomes income to workers, who own their labor.
Ex 2. Complete each sentence with a word or phrase from the box:
automatically, child rearing, dye, emotional, fundamental, means, mindless, sew, sloppy, specialization, rake pride in
____ of transport are the methods we use to get from one place to another.
____ work is a work that is not very good quality.
To make clothes you have to know how to ____ the material together.
Having a ____ means that you deal with one particular area of any field.
You may visit a doctor if you have problems with your ____ health.
Competition is ____ to the idea of the free market.
People who ____ their work do it very carefully and enjoy the results.
Mothers and fathers both have important roles to play in ____.
Some people regard factory work as a ____ job but it isn’t necessarily boring.
When you do something ____, you do it without thinking.
When manufacturers ____ clothes, they add color.
LESSON V (Unit 9 -10)
1 The market price is a reward for the efforts of the producer.
2 If the price on the market is lower than expected, the buyer will get a bargain.
3 Surplus measures the utility that the consumer gains from his purchase, or the profit that the producer makes.
4 The difference between the price that consumers are prepared to pay and the price that they really pay is called consumer surplus; it is a very important economic concept.
6 Companies make use of many pricing tricks which help them to increase their profits. Prices can be set higher or lower than the market price; sometimes companies use price discrimination.
7 Auctions are becoming very popular, for example, on the Internet. In an auction all participants make bids, and the highest wins.
1 Though many economic laws, formulas, theories and concepts often seem far removed from everyday life, economic policies affect the life of society, families and individuals. Welfare economics considers issues of equity or fairness.
2 Economists examine how income and wealth are distributed among the population. And equity is realized through taxation.
3 According to those economists who share the concept of welfare economics, any economic system is unfair.
4 Governments receive revenues from different sources with taxation as the main one.
5 Through taxation governments achieve different goals. They decrease the income gap between the rich and the poor, they discourage people from consuming harmful products and they control overall supply and demand.
6 Most taxation revenues go on public goods which include national defense, street lighting, healthcare, education and others.
7 The effects which economic activities have on people are called externalities. These may be positive or negative. For example, industries can do harm to the environment.
LESSON VI (Unit 11)
1 Wealth can include valuable belongings, money, gold, stocks and shares, works of art, land, property and precious jewels.
2 Besides a salary or an unemployment benefit, there are other sources of income. For example, interest from savings in a bank or rent from property.
3 The distribution of wealth in many countries has remained practically without change for many years. A large share of the wealth is concentrated in the hands of a small groизученного материалаup of the population. Inequality is difficult to eradicate.
4 The Lorenz curve shows the relationship between income and population, in other words it represents how income is distributed in the market economy. The extent of the inequalities in income distribution can be judged from the curve.
5 Poverty is a global problem. Though it is mainly associated with developing countries, to some extent it also exists in developed countries.
6 When we speak about absolute poverty, we mean the people who live below the poverty line.
7 People on a low income spend all the money they have on daily necessities. They cannot save.
Ex 1. Complete each sentence with a word or phrase from the box:
absolute, associate, average, corruption, cycle, define, generation, natural disasters, shelter, trap
We ____ high crime rates with poverty and unemployment.
Having a ____, a roof over your head, is a basic need of humankind.
How does the dictionary ____ this word?
Floods, droughts, hurricanes and other ____ are happening more frequently.
Giving money secretly to judges or politicians so that they help you is an example of ____.
Hunters will sometimes set a ____ instead of using a gun.
Let’s hope the next ____ finally put an end to hunger and poverty.
The world’s water supply is a ____ which involves the sea, rainfall and rivers.
If somebody lives in ____ poverty, that means they are completely without money to buy basic necessities.
The ____ salary at that company is very high.
LESSON VII (Unit 13)
1. Before the use of money, which is taken for granted by people today, the basic system of payment was swapping or bartering.
2. The first commodity money was metal, salt and other valuable commodities. Such money lacked liquidity, that is the ability to circulate freely, but it stored value.
3. Fiat money does not have any intrinsic value, but only represents value.
4. If you save money, you may put it in a box under your bed, which is unsafe and unreasonable, or you may put it in a bank account. The money in an account earns interest.
5. The main service which any bank provides to its customers is lending money. Banks are the most reliable lenders.
6. If a client defaults on a loan, the bank uses interest to cover the losses. Though most clients pay back their loans, interest server as a form of security.
7. A banks' clients can make withdrawals at any time, as any bank keeps some percentage of the savings received from its clients as the reserve.
What does everyone do during his life?
Every society is faced with the problem
of natural resources
The central economic problem is finding
the way to produce goods
the way to solve the problem of scarcity
Market economics is called
Most economics in the world are
Planned economics has
advantages and disadvantages
In a true planned economy government
doesn’t play a great role
plays a great role
In a true market economy government
plays no role
plays a great role
Consumers decide what is to be produced in a true
High competition is the sample of
The UK is a country with
Russia is a country of
the earning paid for and hour or unit of production
the earning paid weekly or monthly
money you own
value of the things you own
Inflation that pose few difficulties
Inflation leads to
rise of power of money
to a fall of power of money
extended period of high employment
period of unemployment
a peak of economy
a bottom of economy
Business reduce their spending levels during
After a period of recession
Import is goods
buying from other countries
A tax on imported goods is
raise the price of import
reduce the price of import
WTO an EFTA regulate
Advertising is the information about
goods and services
society. A производство
scarcity B служащий
incomes C инфляция издержек
advertising D управление
profit E частная собственность
wealth F товары и услуги
consume G благосостояние
produce H рыночная экономика
private ownership I личная собственность
personal property J потреблять
production K плановая экономика
employer E работодатель
employee M экономическая система
investment N банковские счета
market economy O инфляция
planned economy P прибыль
mixed economy Q инфляция
economic system R производить
savings S товары и услуги
bank accounts T инвестиция
inflation U общество
demand- pull inflation V продажа
cost- push inflation W дефицит
sales X доходы
goods and services Y реклама
management Z инфляция спроса
2. current account
3. bank activity
5. legal tender
7. certified check
8. to lend money
11. domestic market
21. personnel manager
22. decision making
законное платежное средство
менеджер по кадрам
People who operate the bank:
Board of Directors
People who own bank deposits:
Bank divides profits between:
“Legal tender” means:
money guaranteed by a government
type of currency
Traveler’s cheques are:
not negotiable everywhere
A person who grants money:
A “Loan” means:
a sum of money borrowed
sum of money given to somebody
The most common form of the bank investment are:
Bank funds belong to the:
Bank lends money:
to help people
to make profit
Selling abroad create:
The principal stock exchange in new York is known as:
agents between brokers and public
agents between brokers and bank
The British Stock Exchange was founded in:
Index numbers indicate:
changes in the price of shares
changes in the price of goods and services
Marketing directs the flow of goods and services:
from consumer to producer
from producer to consumer
“Consumer” is a person:
“Vendor” is a person:
The main function of marketing is:
to sell product
to buy product
The four main elements of marketing are called:
The Four P’s
The Four M’s
Most companies establish price:
Management considers from:
one point of view
two points of view
Top manager’s task is:
five levels of management
three levels of management
three business fields
five business fields
И.П. Агабекян. Английский для менеджеров. Ростов-на-Дону. “Феникс”, 2001, 409 с.
Л. Раицкая, С. Кохрейн. Guide to Economics. MacMillan, 2008, 133 с.
Англо-русский словарь экономический словарь.
Oxford Student’s Dictionary of Current English, A.S. Hornby. 2003, 767 c.