Constants, forecasting, patterns, variables, similarities

I:What kind of “models” are we talking about here?

A:Well, that’s a good question, because of course the basic idea of chaos theory is that there aren’t any models as such – there aren’t guaranteed forms, but rather 1patterns  of change and development.

I:Doesn’t that mean that 2 variables  is impossible?

A:No, but it certainly makes it more of a challenge. Mandelbrot, who did the experiment with stock exchange prices, for example, noted that although the outcomes were variable, there were in fact certain 3  forecasting . What we have to do is make sure we know what these are and take into account all the possible 4 similarities .

I:But do economics and finance work in the same way as weather conditions or the movement of plants?

A:Well, no, of course not – but there are certain underlying 5 Constants . In

the past, people thought of these things as “linear systems”, now we know they’re not.

 

Ex.4 Match 1-7 with a-g to make meaningful phrases.

1 to provide  c) goods and services                      

2 to satisfy  e) people’s wants                        

3 to determine   d) the income   

4 to rely  b) the central authority                               

5 to obey  g) on the same tools and methods                           

6 to evaluate   a) the type of economic system             

7 to encourage  f) to work hard                 

 

 

BUSINESS BOOKS

Keeping up with developments in your professional field is getting more and more difficult. It used to be enough to read a few trade magazines, attend the occasional

 

 

conference and subscribe to a professional website. Nowadays, though, it seems this is not enough. 

Many people involved in business today will have heard of long tails, black swans, freakonomics and one-minute managers. However, if you haven’t read the right books and don’t know the jargon, a “long tail” is a way of describing sales patterns, a

“black swan” is an unusual but high-impact event, “freakonomics” is a way of describing unusual economic effects and the “one-minute manager” is a good time manager.

Books on the subject of business, and the jargon (or specific language) they produce have now become a business in themselves. Most bookshops now have several shelves filled with books suggesting all sorts of revolutionary theories which will change the way you do business, manage your time or do your accounting procedures. Many of these books claim they can make you rich and successful.

There are now books which tell you how to persuade people and close the deal, how to read and use body language, how to unlock the secrets of international markets, how to go global and stay green, or list the 25 principles of success, the ten ways to make yourself a better manager, the 100 richest people in the world.

As well as these books, there is another style of business book: the biography or autobiography of the successful business person. These days, it seems, no one can become the CEO (Chief Executive Officer) of even a small company without putting pen to paper and telling the story of their rise to the top, especially if they have a personal tragic story to overcome, or some fantastic ideas to share. In one of these books, a fairly well-known CEO says “Everything I know about business, I’ve learned myself” which makes me wonder why people would buy his book.

Some of these books sell by the thousands, often appearing in the bestseller lists alongside blockbusting works of fiction. Who is buying them, and what do they learn? Are these books essential tools for the modern workplace, or just a way for publishers to make money?

Undoubtedly some books do become vital textbooks for students of business at any level, and some of the biographies can hold valuable lessons for any aspiring or

 

 

practicing entrepreneurs. However, the accusation that many of these books are creating unnecessary jargon, words and terms which complicate, not simplify, the world of business, also seems true.

 

Ex.5Choose the best ending.

1. According to the article, being more informed in your profession

is becoming more complex.

2. If you haven’t read certain business books.

you won’t know certain new terms.

3. Many bookshops

will help you to become successful.

4. Books are available

which will make you a successful person.

5. According to the article

it is necessary to have had personal difficulties before you can be successful.

 

 

 

6. Some business books

a) are very commercially successful.

 

Ex 6. Open the brackets.