The total volume of registered foreign investments in the economy of the Territory exceeded $120 million. The main spheres of activity for the joint ventures are mining and processing of natural resources, internal and foreign trade, services in the field of transport, communication, hotel and restaurant operation. Some of the joint ventures (Russian-Japan "Vostokmetall", "Vanino-Tairiku" and the Russian-Australian "Amurstal-Ani") are among the leading exporters of the Territory. 'The share of joint ventures is 12% of the total volume of export, in the volume of import - 18%. Enterprises with foreign investments affect the export deliveries of lumber, fish and fish products, scrap and wastes of ferrous and non-ferrous metals, aluminium alloys and different related services. The considerable amount of import goods is delivered into the Territory through the joint ventures, formed with the companies of different countries. Joint ventures import consumer goods, foodstuffs, electronic equipment, transportation facilities, technological equipment and materials for the development of their own production. A considerable portion of the machines and equipment delivered to the Territory is a contribution by foreign investors to joint ventures.

Understanding the importance of the attraction of foreign investments, the Administration of the Khabarovsk Territory and the Territorial Duma attempt to create the most favourable conditions for foreign investors. With this purpose, the following tax privileges concerning the allocation to the Territory's budget are granted in the Territory:

Newly founded joint ventures with a share of foreign investors more than 30%, branches of-foreign companies and companies which wholly belong to foreign investors are exempt from a profit tax for two years in the spheres of production activity and services in the hotel business;

Newly founded enterprises, with a volume of foreign investments more than $5 million directed toward the development of mineral deposits and construction of projects for the transportation system are exempt for three years.

At present, the work is in progress on setting up a concession fund of natural resources to attract foreign investments to the Territory.

Vocabulary notes:

1. portfolio investments портфельные инвестиции

2. to implement выполнять, осуществлять

3. to exceed превышать

4. joint ventures совместные предприятия

5. to effect поставлять

6. wastes отходы

7. to exempt освобождать отходы

Ex.15. Scan the text and give English equivalents for

иностранные инвестиции; объем прямых капиталовложений; реализовывать; портфельные инвестиции; международные тендеры; совместные предприятия; переработка природных ресурсов; поставлять на экспорт; поступление импортных товаров; придавать большое значение; делать все возможное; вводить налоговые льготы; освобождать от налога на прибыль; освоение месторождений полезных ископаемых; строительство объектов.

Ex.16. Give Russian equivalents for

foreign investments; the volume of direct capital investments; to come into the privatized enterprises; the attraction of foreign credit; to develop the mineral resources; the share of joint ventures; the considerable amount of import goods; to create the most favourable conditions; to be exempt from a profit tax.

Ex. 17. Translate from Russian into English.

1. В экономике края все более заметную роль играют иностранные инвестиции.

2. На территории края уже создано свыше 500 предприятий с иностранными инвестициями.

3. Общий объем зарегистрированных зарубежных инвестиций в экономику края превысили 120 млн. долларов.

4. Основными сферами деятельности СП являются добыча и переработка природных ресурсов, внутренняя и внешняя торговля, услуги в области транспорта и связи.

5. Все более заметное количество иностранных товаров поступают в край через совместные предприятия, созданные с фирмами разных стран.

6. Придавая большое значение привлечению иностранных инвестиций, администрация Хабаровского края и краевая Дума делают все возможное для создания более благоприятных условий зарубежным

7. С этой целью на территории края введены налоговые льготы.

Ex.18. Answer the following questions:

1. What plays a considerable role in the economy of the Khabarovsk Territory?

2. Is the volume of direct capital investments constantly growing?

3. What investments begin to come into the privatized enterprises?

4. Why have the first international tenders been established?

5. How many enterprises with foreign investments were established in the Territory?

6. What are the main spheres of activity for the joint ventures?

7. What is the share of joint ventures in the total volume of export?

8. What do enterprises with foreign investments export?

9. What do joint ventures import?

10. What conditions do the Administration of the Khabarovsk Territory and the Territorial Duma attempt to create for foreign investors?

Ex. 19. Make up an outline of the text. Write out the key words for each point of the outline.

Ex.20. Read and reproduce the dialogue. Work in pairs.

Ex.21. Try this quiz with a partner.

1. If a Canadian businessman keeps stepping backwards while he's talking to a Mexican businessman, this means ...

a) he doesn't like Mexicans;

b) the Mexican is trying to be too friendly;

c) Northern people don't feel comfortable standing as close to another

person as Southern people normally do;

d) Canadians are less friendly than Mexicans.

2. If you are receiving a business card from a Japanese person, it is more polite to take it with ...

a) your left hand;

b) your right hand;

c) both hands;

d) one hand and present your own card with the other.

3. If you are meeting an Arab client it is polite to ...

a) get straight down to business;

b) wait until he raises the topic of business;

c) stick to small talk for the first few minutes;

d) ask him to close the door of his office to prevent interruptions.

4. If someone shakes your hand very hard and long, this means ...

a) they are very pleased to see you;

b) they are trying to show you that they are sincere;

c) they are waiting for you to say something;

d) they are reliable and friendly.

5. If someone always looks you straight in the eye, this means that they are

a) honest;

b) rude;

c) trying to frighten you:

d) being friendly.

6. Which is the best definition of a good conversationalist:

a) someone who always has plenty to say;

b) someone who has plenty of amusing stories to tell;

c) someone who will listen carefully to what you have to say;

d) none of these (give your own definition).

Unit 9. MY SPECIALITY

Ex. 1. Read the following words and word-combinations:

1. a sophomore студент-второкурсник

2. economy экономика

3. to practice economy заниматься экономикой

4. economics экономика(наука, дисциплина)

5. to be in great demand пользоваться большим спросом

6. thrifty экономный, бережливый

7. to satisfy удовлетворять

8. available наличный, доступный

9. usefulness польза

10. utility полезность, польза, выгодность

11. value ценность, стоимость

12. wants потребности, желания

13. identical идентичный

14. to choose выбирать

15. consumer потребитель

16. to employ нанимать, привлекать

17. approach подход

18. to deal with иметь дело с

19. income доход

20. to examine questions изучать вопросы

21. scarcity дефицит

22. accountant бухгалтер

Ex. 2. Translate the following sentences, paying attention to the modal verbs.

1. Students must be taught how to handle their finances.

2. He had to earn his living when he was 15.

3. The translation can be done any time you like.

4. Your price is to depend on the amount of the contract.

5. You should discuss your requirement with a sale manager.

6. Agents have to sell the goods within a limited period of time.

7. We might pay for the services in dollars.

8. Students should be guided by teachers more closely.

9. You will have to send a letter of conformation tomorrow.

10. The documents are to be prepared immediately.

11. One can learn a foreign language only if the person is interested in learning it.

12. Will the agents be allowed to sell the goods within such a long period of time?

13. He has to pay this cheque only in pounds sterling.

14. Students should forget about being shy and should enjoy speaking a foreign language.

15. They were able to inform us where the goods were at that moment.

Ex. 3. Read and translate the text.

My future profession

I am a sophomore of the Department of Economy and Law of the Far Eastern Academy of Public Service. In three years I will become a professional economist. Due to rapid development of market economy, economists are in great demand today. Economist is one who practices economy. As far as I know, economists are responsible for a thrifty use of material resources.

Particular attention during the course of training is given to economics. Economics is a science concerned with how people use available resources to satisfy their wants through the process of production and exchange. We satisfy our wants by consuming goods and services. We consume something it has some usefulness for us. This usefulness of a thing to satisfy our wants is called utility. We buy and sell everything for money, we use money value to compare utility of various things through money.

Human wants are unlimited, but the resources necessary to satisfy those wants are limited. Every society has an identical problem, the problem of scarcity. Everyone needs to choose from among the things they want.

The need to choose is limited by our income, wealth and ability to borrow. We see that economics deals with the problem of scarcity. Large corporations use economists to study the ways they do business and to suggest methods for making more efficient uses of their employees, equipment factories and other resources. The Russian government also employs economists to study economic problems and to suggest ways to solve them.

Except economics we should have a profound knowledge and a thorough training in mathematics, statistics, econometrics, macroeconomics, microeconomics and other subjects.

There are two ways of looking at economics and economy. One is the macro approach and the other is micro. The macroeconomics approach is to study the economy as a whole; microeconomics is the study of individual consumers and the individual businesses. Macroeconomics examines questions such as how fast the economy grows, how much total income is. Microeconomics deals with such things as scarcity, choice, production and prices.

Our graduates can work as financial managers, executive managers, sale managers, economists, accountants. As for me, I am eager to be as accountant.

Accountant is one of the most prestigious and widely required professions of economist.

Knowing the economic laws of the development of the society, economist can solve many problems facing our country. I hope I will manage to make my contribution to this process. The more you know about the subject, the better career decisions you will be able to make.

Ex. 4. Find English equivalents to the following words and word-combinations and use them in sentences of your own:

заниматься экономикой, пользоваться большим спросом, удовлетворять потребности, особое внимание, наличные ресурсы, проблема дефицита, необходимость выбирать, иметь дело с, решать экономические проблемы, вносить вклад в, предлагать способы решать проблемы, широко востребованная профессия.

Ex.5. Find Russian equivalents to the following words and word-combinations:

individual businesses, to suggest ways, widely required profession, to employ economists, scarcity, profound knowledge, to make more efficient use, to be in great demand, available resources, to consume, utility, through money, identical problem, to choose from among the things, to practice economy, to make contribution.

Ex.6. Complete these sentences with: few, a few, many, much, little, a little, a lot of

1. I have …interest in economics.

2. …people are really talented.

3. Could I try…juice?

4. …students like statistics.

5. …students in my group like English.

6. …people can speak a foreign language perfectly.

7. Have you got…friends?

8. We’ve got very…time.

9. There is too…sugar in my tea.

10. I can’t go out for a walk. I’ve got…work.

Ex. 7. Put questions to the underlined parts:

1. In three years I’ll become a professional economist.

2. Economists are in great demand today.

3. Particular attention during the course of training is given to economics.

4. We satisfy our wants by consuming goods and services.

5. We buy and sell everything for money.

6. We see that economics deals with the problem of scarcity.

7. Accountant is one of the most prestigious professions of economist.

8. Economists help to solve the problems of prices and wages.

9. Economics is concerned with distribution of goods and services.

10. There are two ways of looking at economics and economy.

Ex. 8. Insert prepositions where necessary:

1. Economics is a science concerned…how people use available resources.

2. We satisfy our wants…consuming goods and services.

3. Every society has an identical problem…scarcity.

4. Everyone needs to choose…among the things they want.

5. Large corporation use economists to suggest methods…making efficient uses…their employees.

6. Except economics we should have a profound knowledge…mathematics, statistics, econometrics and other subjects.

7. There are two ways…looking…economics and economy.

8. Microeconomics is the study…individual consumers and the individual business.

9. Microeconomics deals…such things…scarcity, choice and prices.

10. Accountant is one…the most prestigious and widely required professions…economist.

Ex. 9.Complete the following sentences:

1. The Russian government employs economists … .

2. Economics deals with the problem … .

3. Our graduates can work as … .

4. Microeconomics deals with … .

5. We satisfy our needs … .

6. We use money value … .

7. Due to rapid development of market economy … .

8. There are two ways … .

9. The microeconomics approach … .

10. As for me, I am eager … .

Ex. 10. Translate into English:

1. Через 3 года я стану профессиональным экономистом.

2. Благодаря быстрому развитию рыночной экономики, экономисты пользуются в наши дни большим спросом.

3. Особое внимание во время обучения уделяется рыночной экономике.

4. Экономика – это наука, связанная с тем, как люди используют доступные ресурсы, чтобы удовлетворить свои потребности через процесс производства.

5. Мы удовлетворяем наши потребности посредством потребления товаров и услуг.

6. Потребности человека безграничны, а ресурсы, необходимые для удовлетворения этих потребностей, ограничены.

7. Мы всё покупаем и продаём за деньги.

8. В каждом обществе существует одна и та же проблема - проблема дефицита.

9. Мы понимаем, что экономика связана с проблемой дефицита.

10. Российское правительство привлекает экономистов для решения экономических проблем и для предложения способов их разрешения.

11. Необходимость выбирать ограничена нашими доходами и благосостоянием.

12. Кроме экономики нам следует тщательно изучать математику, статистику, эконометрику, макроэкономику, микроэкономику и другие предметы.

13. Подход к макроэкономике заключается в том, чтобы изучать экономику в целом.

14. Профессия бухгалтера - одна из самых престижных и высоко востребованных профессий.

Ex. 11. Match the words with their definitions:

1. consumer a) a big company or a group of companies

acting together as a single organization

2. corporation b) the amount of money of usefulness that

something has

3. value c) the amount of money for which

something is sold, bought or offered

4. scarcity d) someone who buys and uses products

and services

5. price e) the group of people who govern a

country or state

6. government f) a situation in which there is not enough

of something

7. utility g) the amount of money that something is

worth

Ex. 12. Choose one of the words from Ex. 11 to make the sentences complete.

1. There was a wider choice of goods for the… .

2. The alterations doubled the…of the house.

3. He works for a large American… .

4. The new military…doesn’t have popular support.

5. If you want to drink tea, it has…for you.

6. They agreed on a…5000 dollars for the car.

7. There is a great…of qualified specialists in some agricultural areas.

Ex. 13. Answer the following questions:

1. Why are economists in great demand today?

2. What are economists responsible for?

3. What is economics concerned with?

4. How do we satisfy our wants?

5. What is utility?

6. Are human wants limited or unlimited?

7. What is the need to choose limited by?

8. What problem does economics deal with?

9. Large corporations use economists to study the ways they do business, don’t they?

10. Which ways of looking at economics exist?

11. What does macroeconomics study?

12. What questions does macroeconomics examine?

13. Macroeconomics deals with scarcity, choice, production and prices, doesn’t it?

14. What can our graduates work as?