Файл: М-803. Маковская.The more we know, the better.doc

constitution – constitutional

practice – practical

monarchy – monarchical

theory – theoretical

industry – industrial

office – official

to govern – government

to appoint – appointment

to limit – limitation

to conclude – conclusion

to develop – development.

Exercise III. Transform as in the models.

Model 1: to elect MPs – election of Mps.

to limit powers; to appoint officers; to declare war; to develop the policy.

Model 2: powers of the Queen – Queen’s powers.

decision of the Cabinet; functions of the Prime Minister; decisions of the committee; prerogative of the Monarch.

Model 3: members of the Cabinet – the Cabinet Members.

program of the party; documents of the Government; offices of the state; court of appeal.

Text Study

Text A. State System of Great Britain

Read and translate the text.

The United Kingdom of Great Britain and Northern Ireland is sometimes called the United Kingdom, the U.K., Great Britain, Britain or England.

The country is made of England, Scotland, Wales and Northern Ireland (sometimes known as Ulster).

46 million people live in England, 5 mln. in Scotland, 2.8 mln. in Wales and 1.5 mln. in Northern Ireland.

The United Kingdom is one of the few developed countries of the world where a constitutional monarchy has survived with its ages – old customs, traditions and ceremonies. So Great Britain is a constitutional monarchy. It means that the powers of the Monarch (the King or the Queen) are limited by Parliament.

You’ll be greatly surprised but there is no written constitution in Great Britain. The main principles of British legislation are expressed in other documents like “Magna Charta¹”, “Habeas Corpus Act²”, “Bill of Rights³”, “Parliamentary Act”, etc. There are two basic principles of the British Constitution and they are: “Rule of Law” and “Supremacy of Parliament”.

The state system of Great Britain consists of the legislative branch which makes laws, the executive branch which puts the laws into effect and plans policy; the judicial branch which decides on cases that arise out of the laws.

The legislative branch is Parliament where the laws are passed. Parliament in Great Britain has existed since 1265 and is the oldest Parliament in the world. It consists of two chambers – the House of Lords and the House of Commons.

The House of Lords consists of 1000 peers who are not elected by people. They are hereditary peers, Law Lords, life peers and top church officials. The House of Lords has now lost most of its powers and cannot influence the decision making process in Parliament.

The House of Commons is a nation-wide representative body which is elected by people at general elections once in 5 years. It consists of 635 elected members of Parliament (MPs) each representing an area in England, Scotland, Wales and Northern Ireland.

The executive (power) branch in Great Britain is represented by the Government which is headed by the Prime Minister. As a rule the Prime Minister is the leader of the party that has won the elections and has the majority in the House of Commons.

The Prime Minister appoints the ministers to compose the government. The Government consists of about a hundred politicians. The Prime Minister nominates the Cabinet of Ministers which consists of 16 to 24 senior ministers. The Cabinet meets once a week in No 10 Downing Street, the official residence of the British Prime Minister. The Cabinet formulates foreign and home policy, makes decisions on important day-to-day issues. The policy decided upon by the Cabinet is implemented by different departments of state. The Cabinet is also the Court of Appeal. This is presided over by the Lord Chief Justice of Appeal and three judges. There is Ministry of Justice in the United Kingdom. The judicial system is divided between the Courts, the Lord Chancellor and the Home Secretary.

Exercise I. Match English and Russian equivalents.

1. to make appointments

2. leader of the party

3. to pass laws

4. a developed country

5. a constitutional monarchy

6. decision – making process

7. general elections

8. nationwide representative body

9. foreign policy

10. official residence

11. on important day-to-day issues

12. to put the laws into effect

a) конституционная монархия

b) принимать законы

с) делать назначения

d) развитая страна

e) проводить законы в жизнь

f) лидер партии

g) всеобщие выборы

h) официальная резиденция

i) по важным повседневным вопросам

j) всенародный представительный
орган

k) процесс принятия решения

l) международная политика.

Exercise II. Choose the right word or word combination.

1. The Queen’s power is … .

a) elective; b) hereditary; c) unlimited.

2. The legislative branch in Great Britain is represented by …

a) Parliament; b) Cabinet of Ministers; c) Courts.

3. The Prime Minister appoints …

a) members of Parliament; b) ministers; c) judges.

4. The executive power in Great Britain belongs to …

a) Parliament; b) The Prime Minister and his Cabinet; c) the Queen.

Exercise III. Complete the sentences according to the text.

1. The Queen’s power in the United Kingdom is … .

2. The Prime Minister is the leader of the party that … .

3. The British Parliament consists of … .

4. The executive branch in Great Britain is represented by … .

5. The Cabinet of Ministers formulates … .

6. The House of Lords consists of … .

Exercise IV. Answer the questions on the text.

1. What is the official name of Great Britain?

2. What kind of monarchy is Great Britain?

3. Is the Queen’s power hereditary or elective?

4. Is there a written constitution in Great Britain?

5. What branches of powers does the British state system consist of?

6. Who is the head of the British Government?

7. When does the Queen appoint the Prime Minister?

8. Are members of the House of Lords elected?

9. How often are general elections in Great Britain held?

Exercise V. Think and answer:

1. Who is the constitutional monarch of Great Britain now?

2. What are the relations between the Queen and the Parliament in Britain?

3. Who may be the member of the House of Commons?

4. Is the Prime Minister elected? Who is usually appointed as the Prime Minister?

5. How is the Cabinet of Ministers formed? What is it responsible for?

Section II. State System of the Republic of Belarus

Vocabulary Study

1. to proclaim [prə´kleım] – провозглашать, объявлять.

2. unitary [´ju:nıt(ə)rı] – унитарный, единый.

3. legal [´li:g(ə)l] – правовой, юридический.

4. to vote [vəut] – голосовать, баллотироваться.

5. responsible [ris´pɔnsəbl] – ответственный.

6. a field [fi:ld] – область, сфера деятельности.

7. foreign policy [´fɔrɪn ´pɔlɪsɪ] – внешняя политика.

8. defence [dı´fens] – защита, оборона.

9. security [sı´kju(ə)rıtı] – безопасность.

10. a sphere [sfıə] – сфера, круг, поле, область (деятельности).

11. a commander-in-chief [kə´mɑ:ndər ɪn ´tʃi:f ] – главнокомандующий.

12. armed forces [´ɑ:md ´fɔ:sız] – вооруженные силы.

13. a treaty [´tri:tı] – договор (международный).

14. to enforce [ɪn´fɔ:s] (a law) – проводить в жизнь (закон).

15. ambassador [æm´bæsədə] – посол.

16. to grant [gra:nt] – даровать, жаловать, дарить.

17. citizenship [´sɪtɪznʃɪp] – гражданство.

18. to pardon [´pa:dn] – прощать, извинять, помиловать.

19. to adopt [ə´dɔpt] – принимать.

20. a branch [brɑ:ntʃ] – ветвь (власти).

21. legislative power [´ledʒɪslətɪv ´pauə] – законодательная власть.

22. judicial power [dʒu:´dɪʃəl] – судебная власть.

23. foreign affairs [ə´feəz] – международные отношения; область внешней политики.

24. employment [ɪm´plɔɪmənt] – работа, служба, занятость.

25. a bill [bɪl] – законопроект.

26. a deputy [´depju:tı] – депутат, заместитель, помощник.

27. to dismiss [dıs´mıs] – распускать, увольнять, освобождать.

28. in accordance with [ə´kɔ:dəns] – в соответствии с.

29. body [´bɔdɪ] – орган, общество.

30. to solve [sɔlv] – решать, разрешать.

31. framework [´freımwə:k] – рамки, пределы.

Exercise I. Read the following international words and guess their meaning. Mind the stress.

o´fficial, re´public, ֽpresi´dential, ֽconsti´tutional, ´unitary, ´legal, ֽorgani´zation, e´conomy, ´policy, ´sphere, a´ssembly, ´speaker, co´mission, ´budget, fi´nance, in´dustrial, ´veto, e´ffective, ´social, ֽsitu´ation, ´local.

Exercise II. Memorize the following pairs of derivatives.

to elect – election

to employ – employment

to approve – approval

to develop – development

to represent – representation

to solve – solution

to adopt – adoption

to organize – organization

president – presidential

constitution – constitutional

legislation – legislative

execution – executive

responsibility – responsible

national – nationality

judicial – judiciary

local – locality

independent – independence.

Exercise III. Transform as in the models.

Model 1: to proclaim an independent state – the proclamation of an independent state

to adopt the constitution; to elect the President; to enforce laws; to appoint ambassadors; to approve a bill; to solve local problems.

Model 2: a local government – to govern locally

effective development; an official visit; an independent decision; a judicial ground; a secret election.

Text Study

Text A. State system of the Republic of Belarus

Read and translate the text.

The official name of the country is the Republic of Belarus. It was proclaimed an independent state in 1991. The Republic of Belarus is a unitary democratic legal state. The President of the Republic of Belarus elected by the all-people vote is the head of the state. His term of office is five years. The President is responsible for the organization of the executive powers in the fields of economy, foreign policy, defense, national security and other spheres. The President is commander-in-chief of the armed forces, he makes treaties, enforces laws, appoints ministers, ambassadors, grants citizenship and pardons.

According to the Constitution of the Republic of Belarus, which was adopted in 1994, there are three branches of power: the legislative power, the executive power and the judicial power. The legislative power belongs to Parliament which is called the National Assembly⁴. It consists of two chambers: the Upper Chamber⁵ (the Council of the Republic⁶) and the Lower Chamber⁷ (the Representatives⁸). Each Chamber is headed by the Speaker⁹. In the National Assembly there are full-time commissions. They are:

• Commission on defense and national safety;

• Commission on foreign affairs;

• Budget and finance commission;

• Economic reforms commission;

• Industrial commission;

• Commission on employment and social security.

Laws are made by Parliament. To become a law a bill must be approved by both Chambers and signed by the President. The President may veto the bill.

The Government or the Supreme executive power is the Council of Ministers¹⁰. It consists of the Prime-Minister, his deputies & ministers. The Prime-Minister, his deputies & the members of the Council of Ministers are appointed or dismissed by the President.

The Council of Ministers is responsible for the effective development of economic, social & political situation in Belarus in accordance with the laws adopted by the National Assembly of the Republic of Belarus.

The judicial power is represented by the Supreme Court¹¹, the High Economic Court¹² & the Constitutional Court¹³.

There are local bodies of power, that is the Soviets of local deputies which solve local problems in the framework of their power.

Exercise I. Match English and Russian equivalents.

Exercise II. Choose the right word or word combination.

1. The President … the organization of the executive powers.

a) makes; b) is responsible for; c) approves.

2. … the Constitution of the Republic of Belarus there are three branches of power.

a) according to; b) in; c) under.

3. The legislative power … Parliament which is called the National Assembly.

a) governs; b) belongs to; c) appoints.

4. Each chamber … by the speaker.

a) head; b) heads; c) is headed.

5. The Soviets of local deputies … local problems.

a) solve; b) decide; c) avoid.

Exercise III. Complete the sentences according to the text.

1. The President is responsible for … .

2. According to the Constitution of the Republic of Belarus … .

3. To become a law … .

4. The Prime-Minister, his deputies and the members … .

5. There are local bodies of power … .

6. It consists of two Chambers: … .

7. The President of the Republic of Belarus … .

8. The judicial power is represented by … .

9. The Council of Ministers is responsible for … .

10. The Republic of Belarus is … .

Exercise IV. Answer the questions on the text.

1. What kind of state is the Republic of Belarus?

2. What are the main responsibilities of the President of the Republic?

3. When was our Constitution adopted?

4. How many branches of power are there in Belarus? What are they?

5. What is the highest legislative power?

6. How many chambers does the National Assembly consist of?

7. What full-time commissions do you know?

8. What is the Council of Ministers responsible for?

9. What is the judicial power represented by?

10. What bodies solve local problems?

Exercise V. Think and answer.

What problems do the local deputies’ Soviets solve?

Text B. Monarchy in Britain

Read and translate the text.

Great Britain is a monarchy and the head of State is a monarch. Nowadays Queen Elizabeth ІІ is on the throne. Her power is hereditary¹⁴ and limited by Parliament.

In practice the Monarch has no actual power: they say the Monarch reigns¹⁵ but does not rule¹⁶.

All the affairs of the state are conducted¹⁷ in the name of the Queen, but really the Prime Minister is responsible for every measure submitted¹⁸ to Parliament.

The Queen summons, prorogues and dissolves Parliament¹⁹. Normally she opens each session with a speech from the throne outlining the Government’s program. It is her duty to make appointments to all important state offices²⁰ , including those of judges²¹, officers in the armed forces, diplomats. The Queen has the power to conclude treaties, to declare war and make peace.

Queen Elizabeth ІІ came to the throne in 1952 after the death of her father, King George VІ. The Queen’s heir²² is her elder son Charles, Prince of Wales.

The Royal family is the principal aristocratic house in Britain, closely connected with other members of the hereditary aristocracy and with big finance interest. The Queen is known to be among the wealthiest²³ women in the world.

Exercise I. Discuss in groups or with your partner. Let one student make a conclusion on the discussion.

How can you compare the state systems of Great Britain and the Republic of Belarus? What are their similarities and differences?

UNIT 3

Economy and Economists

Vocabulary study

1. economics [ֽi:kə´nɔmɪks] – экономика (наука).

2. economy [i:´kɔnəmɪ] – экономика (народное хозяйство).

3. economist [i:´kɔnəmɪst] – экономист.

4. economical – экономичный.

5. economize [i:´kɔnəmaɪz] – экономить.

6. wealth [welθ] – благосостояние, богатство.

7. definition [ֽdefɪ´nɪʃən] – определение.

8. vague [veɪg] – неопределенный.

9. scarcity [´skɛəsɪtɪ] – нехватка, недостаток.

10. scarce [skɛəs] – скудный, недостаточный.

11. resources [rɪˈsɔ:sız] – ресурсы.

12. to evaluate [ɪˈvæljueɪt] – оценивать.

13. choice [tʃɔɪs] – выбор, альтернатива.

14. vital [´vaɪtl]] – существенный.

15. to produce [prɔ´dju:s] – производить.

16. to distribute [dɪs´trɪbju:t] – распределять, продавать.

17. to increase [ɪn´kri:s] – увеличивать.

18. welfare [´welfɛə] – благосостояние, благополучие.

19. well – being [ֽwel´bi:ıŋ] – благополучие.

20. distribution [ֽdɪstrɪˈbju:ʃən] – распространение (продажа).

21. income [´ɪnkʌm] – доход.

22. executive [ɪg´zekjutɪv] – должностное лицо.

23. to make decisions [dɪ´sɪʒәnz] – принимать решения.

24. to run a business [bɪznes] – руководить фирмой.

25. to graduate [´grædjueɪt] – заканчивать высшее учебное заведение.

26. certified economists [´sә:tɪfaɪd i:´kɔnәmɪsts] – дипломированные
    экономисты.

27. accountant [ә´kauntәnt] – бухгалтер.

28. auditor [´ɔ:dɪtə] – аудитор, ревизор.

29. to benefit [´benɪfɪt] – получать преимущества.

Exercise I. Read the following international words and guess their meaning. Ming the stress.

´human, race, ´nations, ´publish, ´microֽeco´nomics, ֽinter´national, eֽcono´metrics, i´dea, ´limited, re´sources, ֽcharacte´ristics, in´gredient, ´problem, ´social, a´nalysis, ´industry, ´budget, ´aspect, in´flation.

Exercise II. Read and translate the sentences, mind the use of the words economy, economics, economic, economical, economize.

1. An economy of a country is the organization of its industry and commerce.

2. The economy of Great Britain is based on production of finished goods and services.

3. We must recycle glass and paper for reasons of economy.

4. We have to economize because we are going to buy a new car.

5. Economics is the scientific study of a society money, industry and trade.

6. She studied economics at Harvard University.

7. Economic growth leads to the improvement of people’s life.

8. I have a small car because it is more economical to drive.

Exercise III. Complete the sentences with the words from the box below:

economize, economical, economy, economics, economic.

1. He studied … at the London Business School.

2. What is the … situation in Belarus now?

3. Many countries tried to … fuel in the 1970s.

4. The electric car is more … in its use of energy than an ordinary car.

5. Economists think that inflation restricts … growth.

6. The … of developing countries depends greatly on the prices for gas and oil.

Text Study

Text A. Economics and Economists

Read and translate the text.

Economics is as old as the human race. When ancient men changed the skins of the animals they hunted for axes they developed economic relations. But economics as a science is relatively new. The first major book on economics “The Wealth of Nations” by Adam Smith (an Englishman) was published in 1776. Since that time the economics has developed rapidly and now there are many branches of it such as microeconomics, international economics and econometrics and many competing schools of the science.

Economics is a theory of how society works. The great economist Alfred Marshall defined economics as “the study of a man in the everyday business of life”. This definition is rather vague. The guiding idea in economics is scarcity. In our world everything is scarce: not just gold, diamonds and oil but also food and water. There are not enough resources to give people all they want. Limited resources are both in rich and poor countries. The economists’ job is to evaluate the choices that exist for the use of these resources. Thus we have another characteristic of economics – the choice. Still another aspect of economics is people themselves. People need not only food and clothes but cars, telephones, TV – sets and many other goods. So the three vital ingredients of economics are people, scarcity and choice. Thus we can define economics as the human science which studies the relationship between scarce resources and the choice how to use these resources.

The great American economist Paul said that every economic society has to answer three fundamental questions: What, How and For whom.

What? – What goods to produce with scarce resources: clothes, food, cars, submarines, TV sets, planes?

How? – How to combine basic resources of labor and land to produce the goods and services which we want?

For whom? – How to distribute produced goods and services among people?

There is also an alternative definition of economics – that is the study of wealth. By wealth the economists mean all the assets which make our standard of living: food, clothes, houses, schools, hospitals, cars, etc. The primary concern of economics is to increase the wealth of a society and to consider welfare. Welfare is the whole state of well – being. People need not only more goods but also good conditions of work, law and order.

A basic understanding of economics is very important for everybody because most of our everyday problems have economic aspects. These problems are unemployment, inflation, equal distribution of a country’s income, welfare social programs, etc.

Economics has practical value in business. Business executives should understand how economics works to formulate business policies and make reasonable business decisions. Knowledge of economics may be helpful in running a business or managing one’s personal finances.

Every year a lot of young people enter high educational establishments and begin to study economics. After graduating they will be certified economists, whose work is very important for economies of their countries. Economists work for government, business and consulting firms. Economists work as directors and managers of companies, as financial managers, bank clerks, accountants, auditors, marketing and advertising executives. Their job is to apply economic analysis to the real world. The better the economists will apply economic analysis to the world the more the whole society will benefit.

Exercise I. Match English and Russian equivalents.

1. human race

2. economic relations

3. microeconomics

4. everyday business life

5. limited resources

6. scarcity and choice

7. standard of living

8. wealth of a society

9. distribution of a country’s
   income

10. practical value in business

11. to apply economic analysis

12. the whole society will benefit

1. микроэкономика

2. повседневная деловая жизнь

3. род людской

4. ограниченные ресурсы

5. нехватка и выбор

6. распределение доходов страны

7. экономические отношения

8. все общество получит преимущества

9. практическое применение в бизнесе

10. уровень жизни

11. благосостояние общества

12. применять экономический анализ

Exercise II. Choose the best endings to the following statements.

1. The first major book on economics Adam Smith’s “The Wealth of Nations” was published in …

a) 1876; b) 1776; c) 1676.

2. Economics as an academic science is relatively …

a) new; b) old; c) dull.

3. The guiding idea in economics is …

a) production; b) planning; c) scarcity.

4. The economists’ job is to evaluate the choices that exist for the use of …

a) resources; b) food; c) machines.

5. One alternative definition of economics is that it is the study of …

a) needs; b) wealth; c) services.

6. The concept of welfare is concerned with the whole state of …

a) health; b) law; c) well – being.

7. The great American economist Paul said that every economic society has to answer …

a) three fundamental questions; b) two fundamental questions; c) four fundamental questions.

Exercise III. Complete the sentences according to the text.

1. Economics is as old as …

2. There are many branches of economics such as …

3. In our world everything is …

4. The economists’ job is to evaluate …

5. The three vital ingredients of economics are …

6. Thus we can define economics as …

Exercise IV. Answer the questions on the text.

1. Is economics as old as the human race?

2. What branches of economics are there?

3. What is a theory of economics?

4. What is Alfred Marshall’s definition of economics?

5. What is the guiding idea of economics?

6. What are the three vital ingredients of economics?

7. What three fundamental questions has economics to answer according to the

great American economist Paul?

8. What is the alternative definition of economics?

9. What is the primary concern of economics?

10. Why is a basic understanding of economics very important for everybody?

11. Why should businessmen understand economics?

12. Where do economists work?

13. What is the job of any economist in general?

14. What jobs do economists perform?

Exercise V. Think and answer.

1. Why did you choose the profession of an economist?

2. What field of economy would you like to work in?

Text В. Famous Economists of the World

Read, translate and summarize the texts.

Adam Smith.

In 1776 one of the most influential books of our time, the Wealth of Nations, was written by Adam Smith. It earned the author the title “The father of economists”. Smith believed that a nation’s wealth was dependent upon production, not agriculture alone. How much it produced depended upon how well it combined labor and other factors of production. The more efficient the combinations, the greater the output²⁴, and the greater the nation’s wealth.

The heart of Smith’s economic philosophy was his belief that the economy would work best if it was left to function on its own without government regulations. Self-interest²⁵ would lead business firms to produce only those products that consumers wanted and to produce them at the lowest possible cost. They would do this to get the greatest profits. But all this self-interest would benefit²⁶ the society by providing it with better goods and services at lower prices.

David Ricardo.

David Ricardo is one the most influential economists.

Born in England Ricardo made a fortune on the London Stock Exchange²⁷. This wealth gave him the time to write and serve in Parliament’s House of Commons.

His most famous work, Principles of Political Economy and Taxation (1817), made him one of the greatest economists since Adam Smith. Ricardo is especially famous in international economics for demonstrating the advantages of free trade²⁸. Free trade is a policy in which tariffs and other barriers²⁹ to trade between nations are removed.

As a member of the British Parliament, Ricardo pressed the government to abandon³⁰ its traditional policy of protection. Thanks to his efforts England became the first industrial power to adopt a policy³¹ of free trade. There followed 70 years of economic growth during which the nation became the world’s wealthiest industrial power.

Alfred Marshall.

Alfred Marshall was a professor of economics at Cambridge University. In 1890 he published his textbook “Principles of Economics” which became the text book for the teaching of economics up to 1940s. His most famous student John Maynard Keynes described Marshall as the greatest economist of the 19^th century. Interestingly, Keynes himself became the most influential economist of the 20^th century.

Alfred Marshall analyzed market forces in his “Principals”. This analysis is still relied on to explain economic events.

According to Marshall’s theory, economic events could be explained by interaction³² of supply and demand³³.

John Maynard Keynes.

John Maynard Keynes is considered one the world’s famous economists of the 20^th century.

In 1936 he published his “General Theory of Employment, Interest and Money”. His work transformed economic thinking in the 20^th century as much as Adam Smith’s the Wealth of Nations did in the 19^th century.

Keynes’s work was published in the period of the Great Depression of the 1930s³⁴. During this period unemployment and business failure increased greatly in the United States and the rest of the industrialized world.

Keynes demonstrated that it was possible for total supply and demand to be at equilibrium³⁵ if there is full employment. As to Keynes if government makes some steps and spends money on public works, the income received by formerly unemployed workers will lead to increased demand, the increased demand will increase business activity that in its turn will lead to full employment. His advanced ideas called “Keynesian Revolution” have become part of conventional wisdom³⁶.

Now, whenever a nation appears to be entering into a period of recession³⁷ or inflation, economists and governments immediately think of steps offered by Keynes to reverse a trend³⁸.

UNIT 4

The Economies of Great Britain and the Republic of Belarus

Vocabulary Study

1. to account for [ə´kaunt] – составлять долю.

2. approximately [ə´prɔksɪmɪtlɪ] – приблизительно.

3. barley [´bɑ:lɪ] – ячмень.

4. beets [bi:ts] (sugar beets) – сахарная свекла.

5. commodity [kə´mɔdɪtɪ] – товар, предмет широкого потребления.

6. crop [krɔp] – с/х культура, урожай.

7. construction [kən´strʌkʃən] – строительство.

8. decline [dɪ´klaɪn] – спад.

9. equipment [ɪ´kwɪpmənt] – оборудование.

10. electronic [ɪlek´trɔnɪk] date [deɪt] processing [´prəusesɪŋ] equipment [ɪ´kwɪpmənt] – электронное оборудование для обработки информации.

11. extracting [ek´stræktıŋ] industry [´ɪndəstrɪ] – добывающая промышленность.

12. Gross [grəus] National [´næʃənl] Product (GNP) – валовой национальный
    продукт.

13. Gross [grəus] Domestic [dəu´mestɪk] Product (GDP) – валовой внутренний продукт.

14. forestry [´fɔrɪstrɪ] – лесное хозяйство.

15. fishing [´fɪʃɪŋ] – рыбный промысел.

16. manufacturing [ֽmænju´fæktʃərɪŋ] industry [´ɪndəstrɪ] – обрабатывающая промышленность.

17. marine [mə´ri:n] – морской.

18. maritime power – морская держава.

19. mixed [mɪkst] – смешанный.

20. mixed economy – экономика смешанного типа.

21. petrochemicals [ֽpetrəu´kemɪkəl] – продукты нефтехимии.

22. owing to [´əuɪŋ] – благодаря.

23. private [´praɪvɪt] – and public [´pʌblɪk] enterprise economy – экономика, основанная на частной и государственной собственности.

24. prosperity [prɔs´perɪtɪ] – процветание.

25. to rank [ræŋk] – занимать определенное место.

26. in growth [grəuθ] rates [´reɪts] – по темпам роста.

27. unemployment [ֽʌnɪm´plɔɪmənt] and inflation [ɪn´fleɪʃən] rates – уровень безработицы и инфляции.

28. self-sufficient [ֽself sə´fɪʃənt] – самостоятельный, независимый.

29. significant [sɪg´nɪfɪkənt] – значительный.

30. standard of living [´stændəd] – уровень жизни.

31. technologically advanced [ֽteknə´lɔdʒɪkəlı] – передовой на технологическом уровне.

32. to run (a company) [rʌn] – руководить (компанией).

33. utilities [ju:´tɪlɪtɪz] – коммунальные предприятия.

34. wheat [wi:t] – пшеница.

35. china [´tʃaɪnə] – фарфор.

36. vehicle [´vi:ɪkl] – транспортное средство.

37. chemicals [´kemɪkəlz] – химикалии.

38. to export [ık´spɔ:t] – экспортировать.

39. to import [ɪm´pɔ:t] – импортировать.

40. import [´ɪmpɔ:t] – импорт.

41. work-force [´wə:k ´fɔ:s] – трудовые ресурсы.

42. intensively [ɪn´tensɪvlı] – интенсивно.

43. rubber [´rʌbə] – каучук.

44. to reduce [rɪˈdju:s] – сокращать.

45. raw [rɔ:] materials [mə´tɪərɪəlz] – сырье.

46. shipping [´ʃɪpɪŋ] – грузовые перевозки.

47. insurance [ɪn´ʃuərəns] – страхование.

48. invisible [ɪn´vɪzəbl] – невидимый.

49. oil [ɔɪl] field [fi:ld] – месторождение нефти.

Exercise I. Read the following international words and guess their meaning. Mind the stress.

ֽgeog´raphical, com´mercial, e´conomy, ´policy, ֽprivati´zation, deֽnationali´zation, inf´lation, avia´tion, ´industry, im´porter, ex´porter, ´automobiles, me´chanical, ´tourism, fi´nancial, ֽinter´national, ֽtelecoֽmmuni´cation, tech´nology, ´agriֽculture, per´cent, con´struction, ´energy.

Exercise II. Memorize the following pairs of derivatives.

commerce – commercial

industry – industrial

to import – importer

to export – exporter

to insure – insurance

to dominate – domination

to improve – improvement

to finance – financial

to manufacture – manufacturing

to employ – employed

to develop – developed

Exercise III. Transform as in the model.

Model. To develop a country – a developed country

to own a corporation; to import raw materials; to export goods; to mechanize farms.

Text Study

Text A. The Economy of Great Britain

Read and translate the text.

The United Kingdom of Great Britain and Northern Ireland is sometimes called the United Kingdom, the U.K., Great Britain or England. The country is located in the North West of Europe. It is surrounded by the Atlantic Ocean, the English Channel and the North Sea. The geographical position has made the U.K. a commercial and maritime power.

Nowadays Great Britain is one of the highly developed mixed private-and public enterprise economies. The state sector was reduced during the 1980s and 1990s owing to the policies of privatization or denationalization of publicly owned corporations. There was also an improvement in standard of living. Unemployment and inflation rates were gradually reduced but remained high. The British government controls the production of coal, steel and ships; it also runs certain utilities, the railway and most civil aviation.

Britain lives by industry and trade. The country is one of the world’s biggest importers of food and raw materials. In return Britain exports its manufactured goods such as china, automobiles and other vehicles, wooden goods, steel, electrical and mechanical machinery, tractors, instruments, chemical and petrochemical goods and petroleum. Invisible exports – shipping, insurance, aviation, tourism, etc. – earn nearly as much as commodity exports. The USA, Canada, Australia, India, New Zealand and the Federal Republic of Germany are among Britain’s main trading partners.

Britain is a major financial and commercial centre of the capitalist world. With its many famous institutions such as the Bank of England, the Stock Exchange and Lloyd’s, and its international markets for such commodities as rubber, metals and tea the City of London has always been and still remains the most important financial and commercial center in the world.

Britain has always been a manufacturing country. Manufacturing industries account for one-fifth of the GNP. Most of the companies in industry are small, though companies with 500 or more employees employ a larger percentage of the work force. Major manufactures include motor vehicles, aerospace equipment, electronic data processing and telecommunication equipment, metal goods, instruments, petrochemicals and other chemicals. High-technology industries are being intensively developed now.

Agriculture accounts for less than 2 percent of the GNP and employs about 2 percent of the work force. Farming is highly mechanized though farms are not very large, and is dominated by raising of sheep and cattle. Chief crops include barley, wheat, sugar beets, and potatoes. The United Kingdom is not self-sufficient and it imports a lot of food products.

The extracting industry accounts for approximately 6 percent of the GNP but employs less than 1 percent of the work force. Production from oil fields in the North Sea has allowed the United Kingdom to become self-sufficient in petroleum. The United Kingdom’s coal industry, despite its steady decline since the early 1950s remains one of the largest and the most technologically advanced in Europe.

Just under half of the total population is in the labor force. The highest proportion of employees (more than two-thirds) are in the service sectors, financial services and distribution. Manufacturing, although it has declined, employs more than one-fifth of all workers. Smaller numbers are in construction, energy, agriculture, forestry and fishing.

Though Great Britain has lost its former position as the leading industrial nation of the world it still ranks among the top industrial countries in growth rates, productivity and competitiveness. The United Kingdom is the 5^th in size of its GNP among capitalist countries of the world.

Exercise I. Match English and Russian equivalents.

1. commercial and maritime power

2. a high developed country

3. financial and commercial centre

4. productivity and

competitiveness

5. mixed private-and state economy

1. обрабатывающая промышленность

2. стать самостоятельным, независимым экономически

3. основные торговые партнеры

4. финансовый и торговый центр

5. производительность и конкурентоспособность

6. owing to the policy of

privatization and

denationalization

7. commodity exports

8. main trading partners

9. manufacturing industry

10. to become self-sufficient

11. technologically advanced

6. смешанная экономика с государственной и частной собственностью

7. высокоразвитая страна

8. передовая на технологическом уровне

9. экспорт товаров

10. благодаря политике приватизации и денационализации

11. торговая и морская держава