- •Reading Tasks
- •Understanding main points.
- •Understanding details. Mark true (t) and false (f) statements according to the text.
- •Vocabulary Tasks.
- •Suggest the Russian equivalents.
- •Individual efforts fell short of success, only limited goals could be attained,
- •Fill in the gaps with the words and expressions from the text.
- •Match each term with the definition.
- •Act as an interpreter for Parts a and b.
- •Translate into English.
- •Vocabulary Notes
- •Reading Tasks
- •Understanding main points.
- •Understanding details. True/false statements.
- •Applying for a Job
- •Vocabulary Tasks
- •Suggest the Russian equivalents.
- •Complete the sentences, using the text.
- •Translate into English.
- •Over to you
- •Unit II Section a
- •International Trade
- •Vocabulary Notes
- •Reading Tasks.
- •1. Understanding main points:
- •2. Understanding details.
- •International Trade
- •Vocabulary Tasks
- •1. Suggest the Russian equivalents.
- •2. Fill in the gaps with the words and expressions from the text.
- •4. Act as an interpreter for parts a and b:
- •5. Fill in the gaps with the appropriate prepositions and word combinations (on, such as, of, in to, from, by, during, for, with, due to, both, though).
- •6. Translate the following into English.
- •Vocabulary Notes
- •Reading Tasks
- •Understanding main points.
- •Understanding details. Mark True (t) and False (f) statements according to the text.
- •How to Write Business Letters
- •Complete the sentences, using the text.
- •Vocabulary Tasks
- •Suggest the Russian equivalents.
- •Translate the following into English.
- •Over to you: Extra Writing Tasks
- •1. This letter was written after a half year review. Put the sentences forming the body of the letter in the right sequence.
- •2. Read the following information and complete the task. Write about 100-200 words.
- •Unit III Section a Marketing
- •Vocabulary Notes
- •Reading Tasks.
- •1. Understanding main points:
- •2. Understanding details. Mark True (t) and False (f) statements according to the text.
- •Brand Names
- •Vocabulary Tasks
- •1. Suggest the Russian equivalents.
- •2. Fill in the gaps with the words and expressions from the text.
- •4. Act as an interpreter for parts a and b:
- •5. Render in English.
- •Over to you:
- •Section b Advertising
- •Vocabulary Notes
- •Reading Tasks
- •Understanding main points. Answer the questions:
- •Understanding details. Mark True (t) and False (f) statements according to the text.
- •Vocabulary Tasks
- •S uggest the Russian equivalents.
- •Fill in the gaps:
- •Translate the following in Russian.
- •Over to you:
- •Vocabulary Notes
- •1. Understanding main points:
- •2. Understanding details.
- •Vocabulary Tasks
- •1. Suggest the Russian equivalents.
- •2. Fill in the gaps with the words and expressions from the text.
- •Writing Tasks
- •1. Translate the following into English.
- •Over to you:
- •1. Which would you prefer to work for?
- •2. Do you think your response to question 1 is a typical one? Who would you rather work for?
- •Unit IV Section b Crossculture communication
- •Vocabulary Notes
- •Reading Tasks.
- •1. Understanding main points:
- •2. Understanding details.
- •Vocabulary Tasks
- •1. Read the words and find the odd-one-out.
- •2. Complete each sentence with a phrase from the text.
- •Vocabulary Notes
- •Reading Tasks.
- •1. Understanding main points:
- •2. Understanding details. Mark True (t) and False (f) statements according to the text.
- •Vocabulary Tasks
- •1. Fill in the gaps with the words given below.
- •2. Make sentences using all these words:
- •3. Read 5 questions and match them with the correct answers.
- •4. Match each term with the definition.
- •Over to you:
- •Supply the missing questions for the part of a. Act out the dialogue with a partner.
- •Say which of the following accounts you would prefer and give your reasons:
- •Speak about the new banking services when have been introduced for the last decade. Give examples. Unit II
- •International Financial Institutions
- •Vocabulary Notes
- •Reading Tasks.
- •1. Understanding main points:
- •2. Understanding details. Mark True (t) and False (f) statements according to the text.
- •The World Bank
- •Vocabulary Tasks
- •1. Suggest the Russian equivalents.
- •2. Fill in the gaps with the words and expressions from the text.
- •3. Render in English.
- •Over to you:
- •Vocabulary Notes
- •Reading Tasks.
- •1. Understanding main points:
- •2. Understanding details. Mark True (t) and False (f) statements according to the text.
- •Vocabulary Tasks
- •1. Suggest the Russian equivalents.
- •2. Fill in the gaps with the words and expressions from the text.
- •3. Match each term with the definition.
- •4. Act as an interpreter for parts a and b:
- •5. Render in English.
- •Over to you:
Unit II Section a
International Trade
Vocabulary Notes
Gross Domestic Product (GDP) – валовый Национальный Продукт
to be on the rise – возрастать
Syn. to grow
to soar
to have a major impact on smth – иметь большое влияние на что-либо
Syn. to have a bearing (on)
to influence smth (greatly)
across a border – трансграничный, интернациональный
Syn. across countries
costs – издержки, затраты
fixed costs – постоянные издержки
variable costs – переменные издержки
marginal costs – предельные издержки
to be restricted to smth – быть ограниченным
n. restriction
v. to restrict
to a lesser extent – в меньшей степени
to some (a certain) extent – до определенной степени
Syn. (up) to a point
labor-intensive – трудоёмкий
capital-intensive – капиталоёмкий
interaction – взаимодействие
empirical – эмпирический
labor mobility – подвижность рабочей силы
to profit in real terms – получить реальную выгоду
opposing agendas – (зд.) противоположные программы, задачи
capital endowment – накопление капитала
income distribution – распределение капитала
Reading Tasks.
1. Understanding main points:
What is implied in the notion “international trade”?
Enumerate the factors having a major impact on the international trade system.
Expand on the differences between international and domestic trade.
What currencies are used in the international trade?
Expand on the models proposed to predict patterns of trade.
2. Understanding details.
Mark True (T) and False (F) statements according to the text.
The major difference between foreign trade and domestic trade is that the latter is more costly.
It’s very important for the process of globalization to increase international trade.
In most countries international trade represents just a minor share of GDP.
Such factors of production as capital and labour are not that mobile either within a country or across countries.
International Economics includes both international trade and international finance.
Different models have been proposed to illustrate the effect of trade policies on the economic situation.
The Gravity Model rests on the distance between countries and the sizes of their economies.
Specific Factors Model implies that if there’s an increase in the price of a good, the owners of the factor of production specific to that good will incur losses.
Specific Factors Model is quite appropriate for understanding income distribution bat can hardly be applied for the pattern of trade.
Only a few currencies are used in the international trade and the most important one is held as a reserve currency by governments and central banks.
International Trade
International trade is exchange of capital, goods, and services across international borders or territories. In most countries, it represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history, its economic, social, and political importance has been on the rise in recent centuries.
Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system. Increasing international trade is crucial to the continuance of globalization. Without international trade, nations would be limited to the goods and services produced within their own borders.
International trade is in principle not different from domestic trade as the motivation and the behavior of parties involved in a trade do not change fundamentally regardless of whether trade is across a border or not. The main difference is that international trade is typically more costly than domestic trade. The reason is that a border typically imposes additional costs such as tariffs, time costs due to border delays and costs associated with country differences such as language, the legal system or culture.
Another difference between domestic and international trade is that factors of production such as capital and labour are typically more mobile within a country than across countries. Thus international trade is mostly restricted to trade in goods and services, and only to a lesser extent to trade in capital, labor or other factors of production. Then trade in goods and services can serve as a substitute for trade in factors of production.
Instead of importing a factor of production, a country can import goods that make intensive use of the factor of production and are thus embodying the respective factor. An example is the import of labor-intensive goods by the United States from China. Instead of importing Chinese labor the United States is importing goods from China that were produced with Chinese labor.
International trade is also a branch of economics, which, together with international finance, forms the larger branch of international economics.
International trade uses a variety of currencies, the most important of which are held as foreign reserves by governments and central banks. Here the percentage of global cumulative reserves held for each currency, with the Euro in strong demand as well.
Models
Several different models have been proposed to predict patterns of trade and to analyze the effects of trade policies such as tariffs.
Gravity model
The Gravity model of trade presents a more empirical analysis of trading patterns rather than more theoretical models. The gravity model, in its basic form, predicts trade based on the distance between countries and the interaction of the countries' economic sizes. The model mimics the Newtonian law of gravity which also considers distance and physical size between two objects. The model has been proven to be empirically strong through econometric analysis. Other factors such as income level, diplomatic relationships between countries, and trade policies are also included in expanded versions of the model.
New Trade Theory
New Trade Theory tries to explain empirical elements of trade that other comparative advantage-based models have difficulty with. These include the fact that most trade is between countries with similar factor endowment and productivity levels, and the large amount of multinational production (i.e. foreign direct investment) which exists. New Trade theories are often based on assumptions like monopolistic competition and increasing returns to scale. One result of these theories is the home-market effect, which asserts that, if an industry tends to cluster in one location because of returns to scale and if that industry has high transportation costs, the industry will be located in the country with most of its demand to minimize.
Specific factors model
In this model, labor mobility between industries is possible while capital is immobile between industries in the short-run. The specific factors name refers to the given that in the short-run, specific factors of production such as physical capital are not easily transferable between industries. The theory suggests that if there is an increase in the price of a good, the owners of the factor of production specific to that good will profit in real terms.
Additionally, owners of opposing specific factors of production (i.e. labor and capital) are likely to have opposing agendas when lobbying for controls over immigration of labor. Conversely, both owners of capital and labor profit in real terms from an increase in the capital endowment. This model is ideal for particular industries. This model is ideal for understanding income distribution but awkward for discussing the pattern of trade.