III. Grammar Exercises

6. Write out these sentences putting the verb in brackets into the future tense:

1. The study of economics (to help) you to understand economic forces better.

2. Cleaning up the river (to require) a major effort, and considerable expense.

3. A change in the price of one item (to result) in a shift in the demand for a substitute.

4. An increase in production costs (to have) the opposite effect - supply (to decrease).

5. As long as supply and demand remain unchanged, the equilibrium of market price (to remain) constant.

7. Make the sentences (a) interrogative, (b) negative:

1. They will try to economize to get the most from what they have.

2. Economics will also help you to fulfill your responsibilities as a citizen in a democracy.

3. Economists will agree that unemployment is bad.

4. Entrepreneurs will try to run their businesses to earn the greatest profits.

8. Fill in the blanks with the verbs «can», «may», «must», «have to», «to be able (to)»:

1. Liquidity is a measure of the ease with which you ____ convert your savings to cash.

2. Since a society cannot have everything, it ____ decide which goods and services it will have now.

3. Americans ____ to own property for business purposes and use it to produce income.

4. Most producers ____ make more than one product.

5. Such systems ____ characterize isolated tribes or groups, or even entire countries.

6. Unable to compete with the Japanese, the company ____ to go out of business.

7. Any number of persons ____ contract to form a partnership.

8. You ____ earn the income to buy the things you want.

9. The number and value of things we ____ to buy depends upon the size of our income and how wisely we spend it.

10. Most of the time, we ____ to keep track of our expenditures so we ____ to meet our immediate needs.

9. Translate the following sentences paying attention to the different functions of the word «one».

1. In fact one common definition of economics is «the study of how people make a living».

2. The market price is the one at which goods and services will actually be exchanged for money.

3. One of the main reasons people save their money is to earn interest.

4. Advertising provides us with information about prices, recent improvements in certain goods and services, and the availability of new ones.

5. The development of the socio-economic formations rises from the lower stage to the higher one.

10. State the part of speech of the following words:

management, speaker, production, economist, economical, economic, economics, national, technical, techniques, largely, product.

11. Form nouns with the help of the suffixes:

-ment:   to manage, to agree, to govern, to employ, to invest, to develop.

-er: to consume, to programme, to produce, to buy, to sell, to plan, to own, to manufacture.

-tion:     to produce, to distribute, to consume, to compete, to operate, to explain, to determine.

-or: to distribute, to invest, to operate, to regulate, to educate.

-ist: economy, sociology, psychology, behavior, special.

12. Read the text and retell the contents in Russian:

The Economy of London

London’s economy is distinguished by a multiplicity of activities that reflect the structure of the British economy as a whole. Service industries account for almost three-quarters of total employment; they include banking, insurance, the civil service, transportation, education, food and drink, printing and publishing, retailing, and numerous professional and custom services. Tourism also plays a vital part in London’s service industries. Next in importance are manufacturing and engineering and the latter has allied industries; each of these two sectors accounts for approximately 10 percent of total employment. The production of precision instruments, computers, aircraft, automobiles, chemicals, and clothing, as well as the refining of petroleum, are all important. Not unexpectedly, Greater London possesses the country’s greatest concentration of professional, technical, and administrative occupations, as well as the highest average income in Britain.

The central area of London is dominated by service employment and characterized by the localized concentration of various activities: banking and finance in the City, insurance and law in Holborn, government in Westminster, newspaper publishing in Fleet Street, medicine in Harley Street, tailoring in Savile Row, retail outlets in Bond and Oxford streets, and education in Bloomsbury. Industrial activity is important in the so-called Victorian Manufacturing Belt-a crescent-shaped band on the southern bank of the Thames River, extending northwest from the City and Southwark. Here, small-scale specialized production dominates.

Providing the raw materials and access to markets is the extensive Port of London, the major docks of which are located just downstream from London Bridge. London is one of Europe’s largest seaports and handles virtually every type of commodity and cargo. To the west of Central London are newer manufacturing areas such as Park Royal. Toward the periphery of Greater London and in the surrounding outer metropolitan area are more sophisticated and specialized industries, such as those manufacturing aircraft, computers, and electronic equipment. To the west of London, economic development has been stimulated by the presence of Heathrow International Airport, and to the south, by Gatwick International Airport.

(From an Encyclopedia)

Unit 5

Grammar: 1. Participle II.

2. Passive Voice.

3. Сравнительные обороты.

I. Language Practice

1. Practise the intonation in the questions and the answers:

Have you a ø warranty card? Had you a ø warranty card? Have you got a ø warranty card? `How many `classes `have you `got toö day? `Is there an evening `department at the ø faculty? Are you a ø student? `You are a student of the `All-`Russian `Distance `Institute of Finance and ö Economics, aren’t ø you? `Do you ø study or ö work? Do you ø agree? `I’m ø afraid I don’t ö agree. `Do you `really think ø so? `You’re `quite ö right. `You didn’t `study `last year, did ø you?

2. Listen to the speaker; read and memorize the following words and phrases:

1. technique - [tek`ni:k] - техника (исполнения)

2. an organization chart - организационная схема

3. to designate [`dezilneit] - определять

4. executives [il`zekjutivz] - директора

5. execution [eksi`kju:•n] - выполнение

6. foreperson - мастер

7. department head - начальник (цеха)

8. with respect to - что касается

9. supply - поставка, снабжение

10. accounting - учет

11. supervision - наблюдение

12. guidance [`laidcns] - руководство

13. records and reports - учетные документы и отчеты

14. wage incentive program - программа финансово-материального стимулирования

Text. Industrial Management

Industrial Management, in business, term used to describe the techniques and expertise of efficient organization, planning, direction, and control of the operations of a business.

In the theory of industrial management, organization has two principal aspects. One relates to the establishment of so-called lines of responsibility, drawn usually in the form of an organization chart that designates the executives of the business, from the president to the foreperson or department head, and specifies the functions for which they are responsible. The other principal aspect relates to the development of a staff of qualified executives.

Planning in industrial management has three principal aspects. One is the establishment of broad basic policies with respect to production; sales; the purchase of equipment, materials, and supplies; and accounting. The second aspect relates to the implementation of these policies by departments. The third relates to the establishment of standards of work in all departments. Direction is concerned primarily with supervision and guidance by the executive in authority; in this connection a distinction is generally made between top management, which is essentially administrative in nature, and operative management, which is concerned with the direct execution of policy. Control involves the use of records and reports to compare performance with the established standards for work.

Industrial management as just defined dates from the latter part of the 19^th century. A notable impetus to its evolution was provided by the American engineer Frederick Taylor, who developed techniques for analyzing the operations involved in production and for setting standards for a day’s work. The techniques originally devised by Taylor were adopted by industrialists to other phases of business, including the employment of qualified workers, and wage incentive programs either to replace or to supplement the piecework system that had previously prevailed. Industrial management experts who succeeded Taylor have applied his techniques to a wider range of business problems. Among the leading successors are the Austrian-American management consultant and educator Peter Drucker and the American economist, writer, and diplomat John Kenneth Galbraith.

II. Exercises on the Text:

3. Give English equivalents to:

термин, используемый для описания; два главных аспекта; так называемый; которые определяют директоров предприятия; штат квалифицированных исполнителей; установление политики; закупка оборудования; уровни работы во всех отделах; в этой связи; высшее руководство; действующее руководство; управление; использование учетных документов и отчетов; заметный толчок; техника для анализа действий; была применена промышленниками; программы финансово-материального стимулирования; система сдельного труда; среди ведущих преемников; педагог.

4. Ask questions to these answers (work in pairs).

1. Organization has two principal aspects.

2. One relates to the establishment of so-called lines of responsibility.

3. An organization chart designates the executives of the business.

4. Yes, it does.

5. Planning has.

6. The third aspect relates to the establishment of standards of work in all departments.

7. Yes, it is.

8. A distinction is made between top management and operative management.

9. Control involves the use of records and reports.

10. The American engineer Frederick Taylor.

11. It was adopted to the employment of qualified workers, and wage incentive programs.

5. Translate the following into Russian: