Виняток: early — earlier — earliest

Ступені порівняння прислівників well добре і badly погано утворилися від інших коренів:

well—better — best

badly — worse—worst

 

ВПРАВИ

Exercise 1. Give the comparative and the superlative degree of the following adjectives.

Bright, hot, wide, easy, brave, good, active, nervous, fine, fat, bad, profitable, dirty, old, beautiful, thin, courageous.

Exercise 2. Answer the following questions.

1. Which month is longer: March or April? 2. Is Kyiv larger than Minsk? 3. Which is the largest city in flfe Ukraine? 4. Which is the largest city in the United States of America? 5. Is the Black Sea deeper than the Caspian Sea? 6. Which is the deepest lake in the world? 7. When days are longer: in winter or in summer? 8. Which is the longest day of the year? 9. Which is the shortest month of the year? 10. When is it warmer: in April or in May? 11. When is it colder: in October or in November? 12. Which country is larger: England or the United States of America? 13. Which is the highest mountain in the world? 14. Is literature more interesting than grammar? 15. Is chemistry more difficult than physics? 16. Which is the most difficult subject? 17. Which is the most interesting subject?

Exercise 3. Transform the following sentences using adverbs instead of the given adjectives.

M o d e l: His answer was good.—He answered well.

1. John is a slow eater. 2. Mary's translation of the sentence is correct. 3. My companion was a quick walker. 4. She was a careless cook. 5. His arrival was unexpected. 6. My friend is an excellent dancer. 7. His death was sudden. 8. Her speech at the meeting was wonderful.

Exercise 4. Translate into English.

1. Найкраща пора року – літо. 2. З кодним роком вона стає все гарніша й гарніша. 3. Учені використали найліпший метод. 4. Він – найстарший серед усіх студентів. 5. Його розповідь цікаві за твою. 6. Цей співак найкращий у групі. 7. Це найбридкіше місце у світі. 8. У нашій фірмі працює наймолодший працівник. 9. Ця учениця най ледачіша у класі. 10. Літо – сама спекотна пора року. 11. Пес мого товариша розумніший за мого. 12. Ми пройшли найвужчими вулицями нашого міста. 13. Сьогодні ми переглянули найбридкіший фільм року. 14. Яка планета більша: Марс чи Земля? 15. Їх домівка зручніша за мою. 16. Візьми цю валізу, вона легша. 17. Майк обрав найскладнішу професію. 18. Яка тварина найбільша у світі? 19. Цей продавець приємніший, ніж той. 20. Вони виглядають щасливішими, ніж учора.

Exercise 4. Translate into English.

1. Його авто довше за моє. 2. Наша кімната найменша у квартирі. 3. Моя сестра молодша за мене. 4. Ніл коротший за Дніпро? 5. Їх дім не такий гарний як наш. 6. Її сукня гірша, ніж моя. 7. Зима холодніша за літо. 8. Її дім вище за мій. 9. Його англійська краща за мою. 10. Це питання складніше, ніж попереднє.

 

V. Дібрати та написати анотацію 3-х україномовних текстів економічного характеру англійською мовою (50 слів). Обсяг тексту 2500-3000 знаків.

ІІ СЕМЕСТР

І. Прочитати та зробити письмовий переклад текстів, а також виконати письмово вказані вправи за наданою нижче тематикою (підручник Macmillan “Guide to Economics”)

Unit 6

Before you read

Discuss this question with your partner.

-What would influence whether you want to work or not? Think about:

-wages

-free time

-where job situated

-health

D Vocabulary

Complete each sentence with a word or phrase from the box.

Balance compensation complex

Influences leisure play a/an

Rate role skills substitution

Switch off

1. At the weekend everyone needs to relax and ………. from school or work.

2. Employers ………… important ……… in the economy.

3. ………….. is what you receive if you are badly affected by something.

4. …………. means replacing one thing with another.

5. Most people's …………. time is at the weekend and in the evenings.

6. It can be difficult to get the right ……….. between work and free time.

7. The money you can earn ………. people's choice of job.

8. Some economic problems are very ………….. There is no easy solution.

9. The hourly ……….. for this job is seven pounds an hour.

10. The ability to speak foreign languages is one of the ………. needed for this job.

 

Supply of labour

Why do people work? To make money, of course. However, nothing in economics is ever that simple. The economist will ask a further question: how much are people prepared to work? The answer to this question is much more complex. Finding the right balance between work time and leisure time is one of the trade offs we have to make in life. The balance each person chooses depends on a number of things.

First of all, there are natural limits. There are only 24 hours in a day, and we can't spend all of them working. Most people need eight hours sleep. That brings the number of hours we can spend on work or leisure down to 16. None of us are robots, so we all need some time to rest and switch off from work. This also brings down the possible number of working hours.

Then, of course, money plays a role. The way money influences working hours, though, is quite complicated. It can be separated into two effects: the income effect and the substitution effect.

The income effect works like this: people's time is a resource. If they give up that resource for work, they need compensation. This is usually in the form of a wage for hours worked. The more compensation they get for each hour worked, the less they will need to work. People with higher rates of pay (wages) can afford to have more leisure time than people on lower rates of pay.

So far, so good. However, are people happy just sitting at home and enjoying themselves? It depends on what they'll lose. In other words, it depends on the opportunity cost of not working. As the hourly rate for work increases, the cost of not working also increases. This means that as the wage rate increases, people want to work more hours. This is called the substitution effect. But the substitution effect also has a limit. Eventually, people will not work more hours, no matter how good the compensation is.

A good wage rate clearly attracts more workers, and encourages them to work longer hours. However, the strength of this relationship depends on how elastic the labour supply is. Sometimes it is difficult for companies to find a certain kind of worker. Perhaps there are not many people with the necessary skills. Or perhaps the company is in a place where there are not many available workers. In these situations, even if employers double the wage rate, they will only attract a small number of extra workers. The labour supply is inelastic. In the opposite situation, when it is easy for companies to find workers, the labour supply becomes elastic.

В Comprehension

Now read the text again and choose the sentence which best summaries each paragraph.

PARAGRAPH 1

A. People generally spend equal amounts of time on work and leisure.

B. People have to make compromises.

C. People work in order to have leisure time.

PARAGRAPH 2

A. There are only a limited number of hours available for working.

B. Everyone works about 16 hours.

C. People can only work up to 24 hours a day.

PARAGRAPH 3

A. You have to work more hours to make more money.

B. Earning a good wage allows you to spend less time working.

C. Some people get paid in their leisure time.

PARAGRAPH 4

A. If you work more, you earn more.

B. If your wage is bad, you will want to work more.

C. If your wage is good, you will want to work more.

PARAGRAPH 5

A. Sometimes it is hard to attract workers.

B. Sometimes workers don’t want more money.

C. Elastic labour markets are more common than inelastic ones.

 

Unit 7

Before you read

Discuss these questions with your partner.

-What does poverty mean? Is there a way to define it?

-How many people in the world do you think live in poverty?

-Do you believe people in industrialized countries live in poverty?

А Vocabulary

Complete each sentence with a word or phrase from the box.

Absolute associate average

Corruption cycle define

Generation natural disasters

Shelter trap

1. We ……….. high crime rates with poverty and unemployment.

2. Having a ………., a roof over your head, is a basic need of humankind.

3… How does the dictionary ………. this word?

4. Floods, droughts, hurricanes and other ………… are happening more frequently.

5. Giving money secretly to judges or politicians so that they help you is an example of …………….

6. Hunters will sometimes set a ……….. instead of using a gun.

7. Let's hope the next ………… finally put an end to hunger and poverty.

8. The world's water supply is a ……….. which involves the sea, rainfall and rivers.

9. If somebody lives in ………poverty, that means they are completely without money to buy basic necessities.

10. The ………. salary at that company is very high.

 

Poverty

Without a doubt poverty is a huge problem in the world today. Figures suggest that three billion people or half the world's population live in poverty. However, although we associate poverty with developing countries, poverty of some kind also exists in industrialized nations. For example, it is now thought that quite possibly one in every ten Americans lives in poverty. However, poverty means different things to different people. How do economists define poverty?

One measure of poverty is absolute poverty. People live in absolute poverty when they live on or below the poverty line. This is a level of income that is so low that people cannot afford the basic necessities to live, such as food, clothing and shelter. According to the World Bank, these are people who are living on two dollars a day. However, there are one billion people in the world who live on less than one dollar a day, The World Bank defines this as extreme poverty.

Few people in industrialized countries live in absolute poverty, but many live in relative poverty. This measure of poverty takes into account the differences that exist in a population between the rich and the poor. For example, some economists say that people who earn less than half the average income live in relative poverty. In Britain, this means 14 million people.

Why does poverty still exist? There is no single answer to this question. In developing countries, causes of absolute poverty include natural disasters like droughts and floods, political corruption and war. However, in many cases people – and whole populations – are caught in a trap: the poverty trap.

People on a low income spend everything they have on daily necessities. They have almost nothing. In order to raise themselves out of poverty, they need education. This costs money. Even when governments provide free schooling, the poor may not send their children because they need them to work. These families cannot afford the cost of sending a child to school. Without education, the children cannot find better paid work. In this way, generations of the same family remain poor.

The same cycle that traps individuals can trap a whole population. Economic growth depends on investment. Investment money comes from savings. A nation that has almost no savings cannot grow economically. This keeps wages low, so again people cannot save and the cycle continues.

 

В Comprehension

Now read the text again and answer the questions.

1. Poverty is …

A. Only found in developing countries.

B. Mostly in industrialized countries.

C. Found in both types of countries.

2. What number of people live in extreme poverty?

A. Three billion.

B. Two billion.

C. One billion.

3. How can relative poverty be explained?

A. It takes into account that there are rich people.

B. It is a kind of poverty found in industrialised countries.

C. It is a kind of poverty only experienced in Britain.

4. What cause of poverty is not mentioned in the text?

A. War.

B. Lack of natural resources.

C. Natural disasters.

5. Why can't people escape from the poverty trap?

A. Because they refuse to send their children to school.

B. Because they need any income their children can earn.

C. Because governments don’t provide free education.

6. According to the text, why are countries often trapped in a poverty cycle?

A. There is no money for investment.

B. There are no schools.

C. The land is not good fro growing crops.

 

Unit 8

Before you read

Discuss these questions with your partner.

-Sometimes people feel like spending money. Other times they prefer to save their money. Why is this?

А Vocabulary

Complete each sentence with a word or phrase from the box.

Central bank commercial banks

Confident credit exchange rate

Expand frequently impact

Mortgage proportion repayments

1. We have to pay our bills too …………..in my opinion.

2. A country's …………is the government bank.

3. The …………..are the high street banks that everyone uses.

4. When a loan is taken out, usually each month ………have to be made.

5. A ……….is a special loan for people who want to buy a house.

6. When you fell …………you feel sure that what you are doing is safe.

7. Many people these days buy things on …………instead of paying in cash.

8. A large ………..of people use banks to deposit their savings.

9. The ………..compares the values of different currencies.

10. If a company wants to ……….., to move into new markets for example, it will need to borrow money.

11. High interest rates have an ………..on the consumer's ability to buy a new home.

 

Monetary policy

Monetary policy is another tool that governments use to control the economy. Monetary policy mainly involves making changes to the interest rate. It can also involve changing the amount of money that circulates round the economy. However, this second kind of monetary policy isn’t used very often because it can lead to inflation. Changing interest rates, on the other hand, is a method that is used quite frequently for slowing down or speeding up the economy. So how does it work?

Basically, commercial banks – the ones that you and I use to keep our savings in and to borrow from – borrow their money from the country's central bank. This is the national or government bank, and it has the power to set interest rates. The interest rate of the central bank will influence the rates commercial banks set for their customers. When interest rates grow up, borrowing money becomes more expensive. When they go down, it becomes cheaper.

People get loans from banks for all sorts of reasons, but the biggest loan most people take out is to buy a house. This kind of loan is called a mortgage. When interest rates increase, mortgages become more expensive. People who already have a mortgage will need to pay more on their repayments, and will have less money to spend on other things. Fewer people will want to buy new houses and house prices will fall.

In turn, home owners will feel less confident about their own wealth and will spend less. As a result, the economy slows down. A fall in interest rates will have the opposite effect on the house buying chain.

Consumers also buy other things using borrowed money. This is called buying on credit, and interest rates will also affect how much people spend on credit. Purchases made using credit cards are now a huge proportion of total spending in many countries. This means that interest rate changes have a big impact on consumer spending and the economy as a whole.

Companies, too, are affected by interest rate changes. When interest rates are low, they feel more confident about investing in order to expand their business. Low interest rates will encourage them to take out loans in order to build factories, buy machines and increase production. All of this increases the size of national output. Again, higher interest rates will have the opposite effect.

Finally, interest rates can have an effect on the amount of exports a country sells. This is because the value of a currency (the exchange rate) often falls when the interest rate falls. When the value of a currency falls, a nation's products and services become cheaper for customers from other countries. This increases export sales, and more money comes into the economy. And, of course, a rise in interest rates will mean a rise in the exchange rate. This will reduce export sales, and reduce the total output of the economy.

В Comprehension

Now read the text again and choose the sentence which best summarises each paragraph.

PARAGRAPH 1

A. Changing interest rates is the most common type of monetary policy.

B. Governments never change the amount of money circulating in the economy.

C. Changing interest rates increases the amount of money in the economy.

PARAGRAPH 2

A. The commercial banks set exactly the same interest rate as the central bank.

B. The central bank controls all other commercial banks.

C. The central bank influences the interest rates of other banks.

PARAGRAPH 3

A. High interest rates are good for the housing market.

B. Mortgages are the most common type of loan.

C. High interest rates are bad for the housing market.

 

PARAGRAPH 4

A. Interest rates influence consumer spending.

B. In every country the proportion of credit card holders is high.

C. Most people borrow money with their credit card.

PARAGRAPH 5

A. Businesses invest more when interest rates are low.

B. National output drops when interest rates are low.

C. Business investment is not affected by interest rates.

PARAGRAPH 6

A. How much a country exports affects the interest rate.

B. The interest rate can affect exports.

C. A rise in exports reduces the total national income.

 

Unit 9

Before you read

Discuss these questions with your partner.

-What are these people doing? (striking!)

-How do you think they feel? Why?

-Why do you suppose they are in this situation?

А Vocabulary

Complete each sentence with a word or phrase from the box.

can't be bothered contracts

freelance mobility obsolete

region relocates retrain

shipyard tastes

 

1. People's ……….in clothes change with fashion and with their age.

2. If you ……….to do something, you just don’t feel like doing it.

3. When something …………., it gets smaller.

4. A ………..is an area of a country.

5. When a company …………..to another part of the country or abroad, many workers lose their jobs.

6. …………..workers are not employees for a company, but are self-employed.

7. If something is ……….., it no longer exists because it isn’t needed anymore.

8. If you lose your job due to mechanization, you may have to go to college and …………for something else.

9. A …………is where ships are built.

10. Your …………..is your ability to move from one place to another.

 

Unemployment

There will always be a certain amount of unemployment in the economy. When economists talk about full employment they mean that everyone who can work and wants to work has got a job. Able workers who are not working are simply not happy with the salaries that are offered – or just can't be bothered!

However, economies rarely reach full employment. There are a number of reasons for this, and a number of different types of unemployment. One of these is cyclical unemployment. This type of unemployment varies with the growth and recession cycle of the economy. As the economy grows, demand for labour grows and unemployment falls. As the economy contracts, unemployment grows.

A second kind of unemployment is structural unemployment. This occurs when changing public tastes or advances in technology cause a fall in demand for some types of work. For example, computer technology has revolutionized the printing industry, and many traditional printers' jobs have become obsolete. Sometimes whole regions of a country suffer from high structural unemployment. The north-east of England, for example, was famous for many years for its shipbuilding industry. Competition from abroad forced many shipyards to close. This caused huge unemployment in the region.

How long structural unemployment lasts will depend on two things. Firstly, how easily the workforce can retrain for new jobs. This may be difficult for older workers who find it hard to learn new skills. There is also the question of who pays for the training. The second issue is mobility. Workers who are able to relocate easily to another part of the country will find new jobs more quickly.

There are two other kinds of unemployment which we should mention here. These are loss serious, perhaps, but they are still difficult for governments to get rid of. The first is frictional unemployment. This is a natural kind of unemployment that occurs when someone leaves a job and is looking for another one that suits them. Frictional unemployment often happens because people want to leave their job in order to change careers. Few people walk straight into another job. However, when the economy is in recession, frictional unemployment will be more common because jobs are harder to find.

The second kind is seasonal unemployment. Some industries have busy periods and periods where there is no work at all. Some freelance farm workers, for example, get most of their work in the spring and summer. Like structural unemployment, seasonal unemployment can affect whole regions of a country. Areas that rely on summer tourism, for example, suffer serious unemployment during the autumn and winter months.

 

E Comprehension

Now read the text again and choose the best answer or answers for each question.

1. Which kind of unemployment happens regularly every year?

A. cyclical unemployment

B. structural unemployment

C. frictional unemployment

D. seasonal unemployment

2. Which kind of unemployment happens because of advances in technology?

A. cyclical unemployment

B. structural unemployment

C. frictional unemployment

D. seasonal unemployment

3. Which kind of unemployment may happen because someone wants it?

A. cyclical unemployment

B. structural unemployment

C. frictional unemployment

D. seasonal unemployment

4. What kind of unemployment happens because of changes in economic growth?

A. cyclical unemployment

B. structural unemployment

C. frictional unemployment

D. seasonal unemployment

5. Which kind of unemployment happens in particular parts of the country? (2 answers)

A. cyclical unemployment

B. structural unemployment

C. frictional unemployment

D. seasonal unemployment

 

 

Unit 10

А Vocabulary

Complete each sentence with a word or phrase from the box

Bankrupt current debt

Inevitable lay off pay off

Put up reasonable secure

Shrink stages turnover

1. Each month I put 100 euros into the bank to ……….any loan.

2. If you feel …………about your job, you don’t think there is a danger of losing it.

3. In Britain in it's sunny in the morning, rain is ……….later!

4. A company's ………..is how much money it spends and earns each year.

5. The ………….price of oil is unbelievable.

6. Painting the body is one of the final ……….of manufacturing a car.

7. ………….prices are prices you think are fair.

8. If you wash some clothes in very hot water, they …………..

9. The opposite of taking on staff is to ………..staff.

10. If a company goes ………, it cannot pay back the money it owes and it must close down.

11. I have a large ……….and I have to pay back a lot of money every month.

12. Farmers have …………their prices so the cost of fruit and vegetables has increased.

 

The business cycle

In the long term, over many years, an economy will grow at a steady rate. However, the climb up the hillside of economic growth is actually quite rocky. Long-term growth is made up of many short-term steps. Each short-term step may last for five or ten years. Over this short-term period the economy goes through a cycle of growth and recession. This is called the trade or business cycle, and it has four stages: boom, slump, recession and recovery.

During a boom, everything is good. Demand for goods and services is high and business is going well. To meet demand, companies need to take on more staff, so unemployment is low. Confidence is in the air! Consumers feel confident about spending because their jobs seem secure. What is more, interest rates are reasonable, so people take out loans and use their credit cards. Low interest rates also encourage companies to invest in new capital, and businesses grow. Governments are happy too, because tax revenues are increasing. However, the government has to be careful. Boom economies are always in danger of overheating. Demand-pull or cost-push inflation will eventually bring the good times to an end.

When the slump comes, the economy continues to grow, but no so fast. Once inflation starts to rise, confidence falls. The government have probably put up interest rates to slow down borrowing. People with mortgages have to spend more money to pay off their debt, so they have less to spend on other things. Higher interest rates discourage business investment. Things are moving slowly, and people just hope that the economy will improve again. But will it?

If the government have not acted quickly enough, its fiscal and monetary policy changes may be too late. In this case, recession is inevitable. Some economists say a recession exists when the current rate of growth falls below the long-term rate of growth. Others say a recession is when there is no growth at all, and the economy actually shrinks. Whatever it is, a recession is bad news. Companies have to reduce costs because turnover is so low. They first thing they do is to lay off staff. If the recession is very bad, some companies may even go bankrupt and close. When this happens, thousands of workers may lose their jobs. As unemployment rises, the government needs to spend more on providing unemployment benefit for those who are out of work. In the worst recessions, these conditions can last for a number of years.

Eventually, with good government policy and a demand for goods or services from healthier economies abroad recovery will come. Slowly, confidence returns, investment grows and the cycle begins again.

В Comprehension

Now read the text again and answer these questions in your own words.

1. What is economic growth like in the long run?

2. What is economic growth like in the short run?

3. Why are businesses and consumers confident during a boom?

4. Why are mortgage repayments often higher during a slump?

5. How do companies try to save money during a recession?

6. What can help an economy recover?

ІІ. Самостійно підготуватися до монологічного висловлювання за наступними розмовними темами:

Business trip

To arrange – влаштовувати

Delivery – доставка

Payment – оплата

Shipment – відвантаження