Методические указания по выполнению контрольной работы №1, 2

МИНИСТЕРСТВО ОБРАЗОВАНИЯ РОССИЙСКОЙ ФЕДЕРАЦИИ

ВСЕРОССИЙСКИЙ ЗАОЧНЫЙ ФИНАНСОВО-ЭКОНОМИЧЕСКИЙ ИНСТИТУТ

















АНГЛИЙСКИЙ ЯЗЫК

















Методические указания по выполнению

	контрольной работы № 1, 2



Тексты для дополнительного чтения

Для самостоятельной работы студентов I курса 

по направлениям  521600 «Менеджмент» (бакалавр), 

521600 «Экономика» (бакалавр)

































МОСКВА 2009





Методические указания составили:

доктор филологических наук Чикилева Л.С.,

 кандидат филологических наук Авдеева Е.Л., доцент Манвелова И.А., 

старшие преподаватели: Есина Л.С., Куприянова З.А., Широгалина В.И.



          Учебно-методическое издание одобрено на заседании

          Научно-методического совета ВЗФЭИ



          Проректор, председатель НМС, профессор Д.М. Дайитбегов





























































Содержание



Структура курса………………….……………………………………5

Цели и задачи дисциплины, ее место в учебном процессе……………………..……………………………………..….5

Содержание обучения…………………………………………...……6

Выполнение контрольных заданий и оформление 

контрольных работ……………………………………………..……..8

Выполнение работы над ошибками………………………………….9

Контрольная работа № 1……………………………………….…….10

Вариант № 1…………………………………………………………..10

Вариант № 2…………………………………………………………..13

Вариант № 3…………………………………………………………..16

Вариант № 4…………………………………………………………..19

Вариант № 5…………………………………………………………..22

Контрольная работа № 2……………………………………….…….24

Вариант № 1…………………………………………………………..24

Вариант № 2…………………………………………………………..28

Вариант № 3…………………………………………………………..31

Вариант № 4…………………………………………………………..34

Вариант № 5…………………………………………………………..37

Тексты для дополнительного чтения …………………………………….40

Text 1. Art or science…………………………………………………..40

Text 2. History of economics…………………………………………..41

Text 3. “International” managers………………………………………41

Text 4. Scientific management…………………………………………42

Text 5. The basics of corporate structure……………………………….43

Text 6. The job of management…………………………………………44

Text 7. London and finance……………………………………………..45

Text 8. The London stock exchange…………………………………….46

Text 9. A vexing market…………………………………………………46

Text 10. Stock markets…………………………………………………..47

Text 11. Introduction to economic activity………………………………47

Text 12. For banking operations……………………………………………...48

Text 13. Commercial banking in the USA……………………………………49

Text 14. Banks and bank accounts……………………………………………49

Text 15. International trade organizations, 

conferences and treaties……………………………………………..50

Text 16. European Union………………………………………………..51

Text 17. The function of banks in national economy……………….……52

Text 18. Money……………………………………………………..…….53

Text 19. Money and its functions…………………………………..……..53

Text 20. Inflation…………………………………………………..……...54

Приложение………………………………………………………………….………56













































Структура курса



На курс обучения иностранному курсу в заочном неязыковом вузе отводится 340 часов. За весь курс обучения студенты выполняют 2 контрольные работы, сдают дополнительное чтение и экзамен.  

Выполнение контрольных работ способствует развитию навыков перевода с иностранного языка на русский язык, что является одной из задач обучения иностранному языку. Этот вид работы является одной из форм обучения студентов грамматике иностранного языка и способом расширения словарного запаса.

Обучение иностранному языку предполагает следующие виды работы:

		аудиторные групповые занятия под руководством преподавателя,

		индивидуальную самостоятельную работу студентов на занятии под руководством преподавателя,

		самостоятельную работу по заданию преподавателя, выполняемую во внеаудиторное время, в том числе с использованием компьютерных технологий;

		индивидуальные консультации,

		групповые предэкзаменационные консультации.

Особое внимание уделяется самостоятельной работе студентов  с учебно-методическими материалами, в частности, работе с КОПР, позволяющей компенсировать ограниченное количество аудиторного времени. Проводятся встречи с носителями языка, организуются экскурсии в музей ВЗФЭИ на иностранных языках, проводится конкурс на лучший перевод текстов по специальности, организуются студенческие конференции на страноведческую тематику. 



Цели и задачи обучения



Основными направлениями обучения является достижение практических, образовательных, развивающих и воспитательных целей. На протяжении курса обучения иностранному языку  продолжается работа по усвоению знаний (фонетических, лексических, грамматических, орфографических), формированию и совершенствованию речевых навыков и умений, а также работа по углублению и расширению культурологических знаний, необходимых для межкультурной коммуникации. В связи с этим  осуществляется постепенное усиление профессиональной деловой направленности обучения, направленной на формирование речевых навыков и умений, необходимых в будущей профессиональной деятельности.

Целью обучения иностранному языку в неязыковом заочном вузе является практическое овладение им, что предполагает по завершению курса обучения наличие умений и навыков в различных видах речевой деятельности.

В начале учебного года определяется готовность студентов к изучению вузовского курса иностранного языка. С  этой целью проводится тестирование. При определении объектов контроля учитывается не только конкретный перечень языковых единиц, подлежащих проверке, но и характер владения ими: быстрое узнавание языковой единицы в контексте, независимо от формы, в которой она представлена. Соответственно выделяются следующие объекты контроля: 

а) узнавание/понимание в контексте лексической единицы,  употребленной в  основном словарном значении;

б) понимание конкретного (одного из возможных) значения многозначной лексической  единицы;

в) понимание в контексте грамматического явления;

г) умение установить исходную форму грамматического явления (например, по форме прошедшего времени – инфинитив, по форме множественного числа – единственное число и т.д.);

д) способность различать значения омонимичных форм;

е) узнавание/понимание единиц речевого этикета.

В ходе изучения иностранных языков ставятся следующие задачи:

	совершенствование полученных умений и навыков во всех видах речевой деятельности;

	формирование умений и навыков самостоятельной работы и применение  полученных знаний,  умений и навыков на практике.



Содержание обучения



Содержание обучения рассматривается как некая модель естественного общения, участники которого обладают определенными иноязычными навыками и умениями, а также способностью соотносить языковые средства с нормами речевого поведения, которых придерживаются носители языка. 

В соответствии с социальным заказом государства и  концептуальными положениями, цели обучения иностранному языку определяются как конечные требования к  этапам обучения. Конкретизация этих требований находит отражение в следующих компонентах содержания обучения:

	в номенклатуре определенных сфер и ситуаций повседневно-бытового, профессионального и делового общения; 

	в перечне умений и навыков устного и письменного иноязычного общения, соответствующих указанным сферам и ситуациям;

	в минимуме отобранных языковых явлений (лексических единиц, формул речевого общения, грамматических форм и конструкций, дифференцированных по видам речевой деятельности);

	в характере, содержании  и функционально-стилистических аспектах информации, включающей лингвострановедческие знания, что имеет большое значение для повышения мотивации к овладению иностранным языком, удовлетворения познавательных интересов обучаемых, а также их потребностей в общении на иностранном языке. 

К концу курса обучения студенты должны владеть следующими умениями и навыками:

Чтение

		Умение читать и понимать с использованием и без использования словаря тексты, содержащие изученный языковой материал. Умение составлять вопросы по содержанию прочитанного текста и отвечать на вопросы. Умение сделать сообщение по содержанию прочитанного текста.

Говорение и аудирование

Умение участвовать в несложной беседе по пройденным устным темам;

Умение использовать формы  речевого этикета;

Умение понять небольшие по объему звучащие аутентичные тексты, содержащие изученный языковой материал и выполнить задания на проверку понимания на слух.

Письмо 

Умение кратко излагать информацию, полученную при чтении;

Умение заполнять анкеты.



Грамматический материал подразделяется на активный и пассивный. Активный грамматический материал предназначен для употребления в устной речевой деятельности студентов и усваивается до его автоматического использования  в речи. Пассивный грамматический материал изучается с целью его узнавания и правильного понимания при чтении. Соответственно, активный грамматический материал полностью включается в пассивный грамматический материал. По мере изучения часть грамматического материала может переходить из пассивного запаса в активный запас.



Объем текстового материала



№ п/п

Текстовой материал

Кол-во стр.

1

Тексты учебника и специализированных учебных пособий или хрестоматий 

20

2

Тексты контрольных заданий 

10

3

Тексты для дополнительного чтения по специальности

20

4

Итого 

50



Примечание: За страницу принимается 1500 печатных знаков.



Выполнение контрольных заданий и оформление

контрольных работ



		Контрольные задания составлены в пяти вариантах. Номер варианта следует выбирать в соответствии с первой буквой фамилии студента. 



Начальная буква фамилии студента

№ варианта

     А, Б, В, Г, Д

1

     Е, Ж, З, И, К, Л

2

     М, Н, О, П, Р

3

     С, Т, У, Ф, Х

4

     Ц, Ч, Ш, Щ, Э, Ю, Я

5



		Контрольные задания выполняются на компьютере или оформляются в отдельной тетради. На титульном листе (см. приложение) указывается фамилия студента, номер группы, номер контрольной работы и фамилия преподавателя, у которого занимается студент. Электронную версию контрольной работы можно найти на сайте кафедры иностранных языков (см. раздел «В помощь студенту») или в разделе «обучающие ресурсы» на сайте ФЗФЭИ.

		Если контрольная работа выполняется в тетради, она должна быть выполнена аккуратно, четким почерком. Необходимо оставить широкие поля для замечаний, объяснений и методических указаний рецензента. 

		В конце работы должна быть поставлена подпись студента и дата выполнения задания. 

		Если контрольная работа выполнена в тетради, то материал контрольных заданий следует располагать по следующему образцу:





ЛЕВАЯ СТРАНИЦА

ПРАВАЯ СТРАНИЦА

Английский текст

Русский текст





		Контрольные задания должны быть выполнены в той последовательности, в которой они даны в настоящем пособии. 

		Выполненную контрольную работу необходимо сдать преподавателю для проверки и рецензирования в установленные сроки. 

		Если контрольная работа выполнена без соблюдения изложенных выше требований, она возвращается студенту без проверки. 





Выполнение работы над ошибками



При получении проверенной контрольной работы необходимо ознакомиться с замечаниями рецензента, проанализировать ошибки и еще раз проработать учебный материал. После этого нужно сделать работу над ошибками. Все предложения, в которых были сделаны орфографические и грамматические ошибки или неточности перевода, нужно переписать. Необходимо показать выполненную работу над ошибками предварительно. 























































































Контрольная работа №1



Вариант №1





		Переведите письменно существительные (1-10). Выберите определения

 (a – j), соответствующие существительным: 

	

	1) population

	a) something that is grown or made in a factory in large quantities

	

	2) area

	b) an increase in amount, number or size

	

	3) territory

	c) place to buy things

	

	4) growth

	d) the number of people living in a particular area

	

	5) industry

	e) a particular part of a country, town, etc.

	

	6) product

	f) the business of selling and sending goods to other countries

	

	7) firm

	g) land that is owned  or controlled by a particular country

	

	8) market

	h)  the large-scale production of goods

	

	9) export

	i) the system by which a country’s money and goods are produced and used

	

	10) economy

	j) a business or company, especially a small one

	

	

			В следующих предложениях подчеркните определения, выраженные именем существительным, и переведите эти предложения на русский язык.

	

	1)  Japan’s  labour market is strengthening.

	2) A visit of a business delegation will be organized by the Chamber of     Commerce and industry.

	3) Many sectors of Britain’s industry were made up of independent family businesses. 







			a) Выполните КОПР № 2, 4.

б) В следующих предложениях подчеркните глагол-сказуемое, определите его видовременную форму и залог. Переведите предложения на русский язык.



1) The money will be used to buy equipment for the university.

2)  Most analysts are forecasting a further downturn in the market.

3) American consumers have been the main engine of the whole world’s economy.



			В следующих предложениях подчеркните модальный глагол или его эквивалент. Переведите предложения на русский язык. 



1) Each organization can be represented as a three-story structure or a pyramid.

2) Financial planners must identify available sources of financing. 

3) The goods were to be delivered at the end of the week.



			В следующих предложениях подчеркните Participle 1 и Participle 2  и укажите, является ли оно определением, обстоятельством или частью глагола-сказуемого. Переведите предложения на русский язык.



1) A first-line manager is a manager who coordinates and supervises the activities of operating employees. 

2) Investment is a specialized area within financial management.

3) The income from sales is used to finance the firm’s continuing operations.



			Прочитайте и устно переведите на русский язык весь текст. Перепишите и письменно переведите  абзацы 1, 3.



The Belarusians Are Coming.



1. The Republic of Belarus is situated in the center of Europe at the intersection of routes that lead from the West to the East and from the North to the South. The shortest way from Europe to Russia and other CIS countries crosses through Belarus. With a population of 10 million people, the country has an area of 207 thousand square kilometers. A third of the Belarus’ territory is covered with forests. About 2 million people live in the country’s capital, the city of Minsk. 

2. Belarus is one of the most economically developed countries in the CIS with a stable growth of GDP. National industry manufactures a wide variety of technologically-complex products. 

3. 30% of the world’s production of heavy load trucks and 8 % of all tractors assembled in the world come from Belarus. The timber and the woodworking industries are well developed, so are the light and the food industries. Since Belarus and some CIS countries have formed a customs union, goods that were made in Belarus can be exported to Russia, without any duties. Many foreign firms (there are 4000 firms with foreign capital in Belarus) produce goods in Belarus and sell them on the big markets of CIS countries.

4. 67 % of the GDP accounts for the export of goods and services. This fact reflects the high degree of openness of the Belarusian economy. For comparison, this index for the U.S. is 12%.



			Определите, являются ли приведенные ниже утверждения (1, 2, 3) 

а) истинными (true)

б) ложными (false) 

в) в тексте нет информации (no information)



1)  30% of the world’s production of heavy load vans and 8 % of all tractors assembled in the world come from Belarus.

2) Many foreign firms produce goods in Belarus and sell them on the big markets of CIS countries.

3) The capital of Belarus is Minsk.



			Прочитайте  4 абзац и ответьте письменно на следующий вопрос:



What does 67% of the GDP account for?





















































Вариант №2



		Переведите письменно существительные (1-10). Выберите определения

 (a – j), соответствующие существительным:



1) demand

a) a  person working for another in return for salary or wages

2) competition

b) a business organization

3) rate

c) the ability and desire to purchase smth

4) enterprise

d)  a contest between teams or individuals

5) investment

e) providing with what is needed; making available

6) supply

f) the degree of price or value

7) alternative

g) a number of people associated for a common purpose

8) order

h) a request for certain objects

9) goods

i) the act of investing money or capital to gain interest or income

10) company

j) products



		В следующих предложениях подчеркните определения, выраженные именем существительным, и переведите эти предложения на русский язык.

1) Once the organization has built its product or defined its service, it must distribute it to consumer client groups.

2) Business letters can be sent by phone.

3) Chesterham is a small market town with a population of 2000.



		a) Выполните КОПР № 2, 4.

б) В следующих предложениях подчеркните глагол-сказуемое, определите его видовременную форму и залог. Переведите предложения на русский язык.



1) People working for a company are referred as its workforce, employees, staff or personnel.

2)  They have never had to operate in a market economy.

3) In a market economy the means of production are owned by private individuals.



		В следующих предложениях подчеркните модальный глагол или его эквивалент. Переведите предложения на русский язык. 



1) Each individual must understand the goals of the enterprise he\she works for.

2) We can accept your offer on condition that you can guarantee even – day delivery without fail.

3) The new product was so successful that production was barely able to cope with demand.





		В следующих предложениях подчеркните Participle 1 и Participle 2  и укажите, является ли оно определением, обстоятельством или частью глагола-сказуемого. Переведите предложения на русский язык.



1) The government is doing all it can to tackle the problems of housing and unemployment.

2) Like most things in our modern, changing world, the function of management is becoming more complex.

3) The risks involved in this project have been clear from the outset.





		Прочитайте и устно переведите на русский язык весь текст. Перепишите и письменно переведите абзац 1.



The Economic System



1. There are many forms of economic order, ranging from the mixed private enterprise system to partially or completely controlled economies. Regardless of their form, economic system is the system that a society uses for allocation and distribution of scarce resources. Private enterprise means that decisions about what and how much to produce are left to the discretion of owners and managers. In controlled economies such  decisions are the responsibility of some governmental agency. There is no economy today that is completely free of  governmental influence. There are many  beneficial services and protections available from government. Irrespective of the form of economic order, it performs certain valuable functions in the life of organizations of all types.

2. Among the functions of the economic order the most important one  is to provide some means of resource allocation. In a private enterprise this function is basically performed by the price mechanism. This simply means that demand for and    supply of goods and services interact to set their market price. In the case of regulated utilities, there are governmental agencies such as public service commissions that determine the rates that may be charged by utility companies. These rates are set at the level that will allow  a fair return on investments made by the companies. This form of regulated monopoly is considered, on balance, preferable to unchecked competition. This is true because of efficiency reasons. In taking actions in the area of employment, government is attempting to control the economy to help the business community operate at the level of production that will yield full employment.





		Определите, являются ли приведенные ниже утверждения (1, 2, 3) 

а) истинными (true)

б) ложными (false) 

в) в тексте нет информации (no information)



Today economy is completely free of government influence. 

Decisions about what and how much to produce are left to the discretion of owners and managers. 

People generally repeat the decisions made at an earlier generation.





		Прочитайте абзац 2 и ответьте письменно на следующий вопрос:



	What is the most important function which economic order performs?





























































Вариант №3



	Переведите письменно существительные (1-10). Выберите определения

 (a – j), соответствующие существительным: 





1) growth

a) a difficult situation caused by a lack of something,

2) salary

b) money that you receive as payment from the  organization you work for, usually paid to you every month    

3) inflation

c) money or property used to produce wealth

4) trade-off

d)  continuing increase in the prices of goods and services

5) crisis

e) an increase in size, amount, or degree

6) liquidity

f) an organization that holds money, important documents and other valuables in safe keeping, and lends money at interest

7) crunch

g) the amount of money in an economy at a particular time

8) capital

h) a person who buys goods and services for his\her own use and not for resale

9) consumer

i) balance between two situations in order to get an acceptable result acceptable result

10) bank

j) a period of good difficulty, danger or uncertainty in Economics





		В следующих предложениях подчеркните определения, выраженные именем существительным, и переведите эти предложения на русский язык.



1) There are many different market structures in the world.

2) In a monopoly, one company has a much larger market share.

3) The labour market obeys the laws of supply and demand.





		a) Выполните КОПР № 2, 4.

б) В следующих предложениях подчеркните глагол-сказуемое, определите его видовременную форму и залог. Переведите предложения на русский язык.



1)  Deregulation of services like transport and banking has happened in this country in recent years.

2) Schaeffler, a privately held industrial group, made an $17.8 billion offer for Continental, one of the world’s biggest suppliers of car parts.

3) The first two sick days are paid by the employer.



		В следующих предложениях подчеркните модальный глагол или его эквивалент. Переведите предложения на русский язык. 

1) Managers who can operate effectively across cultures and national borders are invaluable in global business.

2) Americans may object to their central bank displacing private lenders.

3) Consequently, the United States must import coffee from countries (such as Brazil) that grow coffee.



		В следующих предложениях подчеркните Participle 1 и Participle 2  и укажите, является ли оно определением, обстоятельством или частью глагола-сказуемого. Переведите предложения на русский язык.



1) Like most things in our modern, changing world, the function of management is becoming more complex.

2) The operations required to perform a particular job could be identified.

3) In managing organizations mentioned it is necessary to draw on intuition and subjective judgment.







		Прочитайте и устно переведите на русский язык весь текст. Перепишите и письменно переведите абзацы 1, 3.



World Bank’s Action on Inflation



1. The World Bank highlighted that Russia must control inflation and allow for appreciation of the ruble if it wishes to see its robust economic performance stay on course. Recent curbs imposed on staple goods would do little to reverse inflation and could lead to price distortions. The surge in capital inflows not being absorbed by the Stabilization Fund is driving money expansion and exerting upward pressure on the ruble. The strong ruble has in its turn been driving up labor costs. It is suggested that wages will be growing more rapidly than productivity.

2. GDP growth has been dented by appreciation of the ruble, making exports more expensive abroad and imports less expensive to domestic consumers. Any economic policy decision involves a tradeoff, and the missing link between inflation and export competitiveness of Russia’s industrial growth is high productivity. Another challenge highlighted by the World Bank was the shrinking and rapidly aging population. By 2025, the population will drop by 12 percent, and one in five people will be aged over 65. The situation in Russia is of particular concern because of the twin factors of a low birth-rate and high mortality.

3. Salary increases in the country don’t meet up with the requirements of aging population because there is a big gap between the wages of young specialists and those who toiled their way to retirement. However Russia earned praise for maintaining an economic policy that allowed the country to weather the global liquidity and credit crunch crises. Besides Russia’s capital inflow into the economy has increased considerably.

	

                                                           ( From ‘ The Moscow Times’, 2008, July )





		Определите, являются ли приведенные ниже утверждения (1, 2, 3) 

а) истинными (true)

б) ложными (false) 

в) в тексте нет информации (no information)



The World Bank highlighted that Russia must control inflation.

2) Soon there will be no inflation in Russia.

3) There was only one challenge highlighted by the World Bank.





		Прочитайте абзац 3 и ответьте письменно на следующий вопрос:



      What did allow Russia to weather the global liquidity and credit crunch crisis?































Вариант №4



		Переведите письменно существительные (1-10). Выберите определения

 (a – j), соответствующие существительным: 



1) insurance

a) a number of people united for business or commerce

2) company

b) responsibility for causing damage

3) customer

c) financial protection

4) association

d)  the work of buying or selling products or services

5) risk

e) you feel certain

6) business

f) a person, who buys things

7) loss

g) no longer having smth.

8) liability

h) the possibility that something dangerous might happen

9) confidence

i) a person or company that provides insurance

10) underwriter

j) a group of people joined together for some common purpose





		В следующих предложениях подчеркните определения, выраженные именем существительным, и переведите эти предложения на русский язык.



1)  There are several ways to measure how developed a country is: life expectancy, education level and real income of the population.

2) Even in the freest economies, like the USA, there is some government control.

3)  The interest rate is determined by the levels of supply and demand in the money market.





		a) Выполните КОПР № 2, 4.

б) В следующих предложениях подчеркните глагол-сказуемое, определите его видовременную форму и залог. Переведите предложения на русский язык.



1) Russia has played a historic role in providing energy to Europe and the world.

2) Interest rates and taxes were raised.

3) Retired employees often get a company pension.



		В следующих предложениях подчеркните модальный глагол или его эквивалент. Переведите предложения на русский язык. 



1) In the market economy companies have to compete with each other for a share of the market.

2)  Taxpayers should clearly understand how the tax is calculated, how much they have to pay and when.

3) Many millions of people have a quality of life today that previous generations could not dream of.





		В следующих предложениях подчеркните Participle 1 и Participle 2  и укажите, является ли оно определением, обстоятельством или частью глагола-сказуемого. Переведите предложения на русский язык.



1) Mostly with money earned from energy exports, Russia began to pay off its foreign debts.

2) Governments may also restrict the amount of imports entering the country.

3) Auctions are becoming very popular, for example, on the Internet.





		Прочитайте и устно переведите на русский язык весь текст. Перепишите и письменно переведите абзацы 1, 3.



Lloyd’s of London



1. Lloyd’s, the biggest insurance business in the UK and in the world, is not a company, but an association of London underwriters. It was incorporated in 1871 and it is so called from Edward Lloyd. Edward Lloyd was the owner of a coffee house where underwriters at that time met to do business. Today more than 20, 000 members of Lloyd’s in 80 countries work for Lloyd’s. Underwriting members or underwriters are grouped into 280 syndicates. The syndicates vary in size from the relatively small units to several thousand individuals. 

2. Insurance is usually undertaken through Lloyd’s brokers rather than directly with Lloyd’s underwriting members. Lloyd’s brokers know better what syndicate to approach and how to negotiate the business. They act, like other brokers, and negotiate on behalf of their customers. They do not bear any risks, since only underwriting members bear all the risks with unlimited liability. One of the main principles of insurance with Lloyd’s is the spreading of risk as widely as possible among syndicates to minimize their losses. 

3. Lloyd’s is best known as a centre of marine insurance, but at the same time all kinds of insurance are practiced there. In fact, at the present day marine insurance comprises less than half the total business undertaken. Almost anything can be insured there as well: aircraft, communication satellites, civil engineering projects, livestock and so on. Besides they do some business in travels, publishing and land. Lloyd’s motto is confidence in the future.





		Определите, являются ли приведенные ниже утверждения (1, 2, 3) 

а) истинными (true)

б) ложными (false) 

в) в тексте нет информации (no information)



1) Edward Lloyd was the proprietor of a coffee house where at that time insurers met to do business.

2) Only brokers bear all the risks with unlimited liability.

     3) Lloyd’s provided free insurance against less or damage.





		Прочитайте абзац 2 и ответьте письменно на следующий вопрос:



How do Lloyd’s brokers act?



1) underwriter -  страховщик (часто морской, член ассоциации страховщиков «Ллойдc»)



2) syndicate - синдикат (вид монополистического объединения предпринимателей в целях ограничения конкуренции, повышения цен и увеличения прибыли)











































Вариант №5



		Переведите письменно существительные (1-10). Выберите определения

	 (a – j), соответствующие существительным: 

	

1) growth

a) a difficult situation caused by a lack of something,

2) salary

b) money that you receive as payment from the organization you work for, usually paid to you every month    

3) inflation

c) money or property used to produce wealth

4) trade-off

d)  continuing increase in the prices of goods and services

5) crisis

e) an increase in size, amount, or degree

6) liquidity

f) an organization that holds money, important documents and other valuables in safe keeping, and lends money at                                                                                                                             interest

7) crunch

g) the amount of money in an economy at a particular time

8) capital

h) a person who buys goods and services for his\her own use and  not for resale

9) consumer

i) balance between two situations in order to get an acceptable result

10) bank

j) a serious economic situation where decisions have to be taken quickly 

	

	

		В следующих предложениях подчеркните определения, выраженные именем существительным, и переведите эти предложения на русский язык.

	

1) The manager must have a good understanding of management principles.

2) A manager should evaluate business functions.

3) Enlightenment scholars looked for a different explanation of economics.

	

	

		a) Выполните КОПР № 2, 4.

б) В следующих предложениях подчеркните глагол-сказуемое, определите его видовременную форму и залог. Переведите предложения на русский язык.



1) In the 1700s, the sciences were split into natural sciences and social sciences.

2) Managers who can operate effectively across cultures and national borders are invaluable in global business.

3) No one has had more influence on managers in the 20th century than Frederick W. Taylor, an American engineer.



		В следующих предложениях подчеркните модальный глагол или его эквивалент. Переведите предложения на русский язык. 



1) The lack of liquidity means that banks must either abandon their promises to pay depositors or pay depositors until the bank runs out of money and fails.

2) Bank accounts may be established by national and state chartered banks, and savings associations.

3) What part can management education play in developing the international manager?



		В следующих предложениях подчеркните Participle 1 и Participle 2  и укажите, является ли оно определением, обстоятельством или частью глагола-сказуемого. Переведите предложения на русский язык.



1) In designing and constructing plans and products, management must draw on technology and physical science.

2) The way of doing a job would be no longer be determined by guesswork.

3) Taylor’s solutions to the problems were based on his own experience.





	

		Прочитайте и устно переведите на русский язык весь текст. Перепишите и письменно переведите абзацы 1, 3.



The Flaws of Age Discrimination

1. The British employment laws have encouraged younger people to value the wisdom that age and experience brings - often confounding their prejudices and establishing a new respect and friendship that bridge the age-gap. There is also a measurable change in the recognition of age-linked capability. "60 is the new 40" people are fond of saying. And it's true. Given better health, education and opportunity, the middle-aged are far more ambitious, adaptable and teachable than they used to be, just a generation ago.

2. In the case of ageism, there must be very few who would want to return to that old workplace atmosphere, in the UK, where the over 40's lived in permanent fear of redundancy, just because their boss might feel one morning that they were past their 'sell by date'. That was a type of institutionalized, bullying behaviour, and was certainly a stress factor to the employee involved. Also fear itself is known to inhibit performance out of all proportion to the actual risk and a constant mood of apprehension would certainly impact upon both team and individual productivity. But if the UK can claim to be at the forefront of anti-ageism, I can assure you that some profoundly mixed messages can come out of the whole ageism agenda. Take the selection of TV news presenters. The television stations have to achieve ratings based on viewer choice, so it is possible to argue that the bias in favour of young, female newscasters is justified, as it's clearly an appearance-based role.

3. Sometimes it appears that it may soon become an offence to remunerate people in respect of their valuable experience and qualification! I certainly hope not. A job should be given on the person's ability to do it - whether the applicant is 20 or 60, a slim young female with a pretty face or a middle-aged man with a moustache. The person specification should relate closely to the criteria of the job specification.

	

		Определите, являются ли приведенные ниже утверждения (1, 2, 3) 

	а) истинными (true)

	б) ложными (false) 

	в) в тексте нет информации (no information)

	

1) The British employment laws have improved peace of mind.

2) It never appears that it may soon become an offence to remunerate people in respect of their valuable experience and qualification!

3) Ageism leads a person to a stress. 

	

	

		Прочитайте абзац 3 и ответьте письменно на следующий вопрос:

	

What are the criteria to be given a job?

	





















Контрольная работа №2



Вариант №1



		Переведите письменно существительные (1-10). Выберите определения

 (a – j), соответствующие существительным: 



1) commerce

a) the activity of buying, selling, or exchanging goods within a country or between countries

2) export

b) a country or area that is under political control of a more powerful country

3) import

c)  the people who live in the same area, town, etc.

4) colony

d) the sale of goods in shops to customers for their own use

5) equipment

e) the business of selling and sending goods to other countries

6) currency

f) very large shop

7) community

g) place where you buy things

8) retail

h) the system or type of money that a country uses

9) shop

i) the tools, machines, clothes etc.  that you need to do a particular job

10) supermarket

j)  a product that that is brought from one country into another



		a) Выполните КОПР № 3, 5.

	б) В следующих предложениях подчеркните глагол-сказуемое, определите его видовременную форму и залог. Переведите предложения на русский язык.

	

1)  Japan’s growth has been becoming much less dependent on exports lately.

2) He finally came at 11 a.m. I had been waiting for him in the office since 8:30 a.m.

3) The US economy has been improving since the global financial crisis.  







		a) Выполните КОПР № 1.

б) В следующих предложениях подчеркните герундий и инфинитив. Переведите предложения на русский язык.



     1) American consumers cannot keep spending more than they earn.

2)  Tracing the complex flows of funds is often difficult.

3) Congress failed to approve proposal that the two countries have normalized trade relations.



		Перепишите и письменно переведите на русский язык следующие предложения. Помните, что инфинитивные обороты часто соответствуют придаточным предложениям. 



1) Russia’s population is expected to fall by 22 % between 2005 and 2050.

2) Insurance companies consider manual workers to be high risk. 

3) Price rises are likely to grow next year.



		Прочитайте и устно переведите на русский язык весь текст. Перепишите и письменно переведите  абзацы 1, 3.



Foreign Trade of the UK



1. The prominent position of British commerce in world trade during the 18th and 19th centuries resulted largely from the geographical isolation of the British Isles from the wars and political troubles. The development of the great trading companies, colonial expansion, and naval control of the high seas were main factors. Before the 17th century the foreign trade of England was almost completely in the hands of foreigners. Wool was the principal export, and manufactured goods were the chief imports. Under the mercantile system the government fostered British foreign trade, the development of shipping, and trading companies. As British overseas possessions increased, the raising of sheep for wool and mutton became a major occupation in the colonies. The practice of exporting wool from England was gradually replaced by the import of wool and the manufacture and export of fabrics. Cotton textiles, iron, steel, and coal soon became significant British exports.  

2. In the early 1990s Britain remained one of the world’s leading trading nations. Its major exports were road vehicles and other transportation equipment, industrial machinery, petroleum and petroleum products, etc. Exports were valued at $190 billion annually in the early 1990s. In the same period, annual imports totaled $221 billion.  Trade with other Commonwealth members and with the sterling area (a group of countries whose currencies are tied to the British pound sterling) declined after Great Britain joined the European Economic Community (now the European Union) in 1973. Trade with Western Europe has become more important.

3. Most domestic retail trade is conducted through independently owned shops, although the number of chain stores and supermarkets is increasing. More than half of all wholesale trade is carried out in London.





		Определите, являются ли приведенные ниже утверждения (1, 2, 3) 

а) истинными (true)

б) ложными (false) 

в) в тексте нет информации (no information)



1)  As British overseas possessions increased, the raising of sheep for wool and mutton became a minor occupation in the colonies

2) In the early 1990s the major exports in Britain were road vehicles and other transportation equipment.

3) UK trade with USA is increasing fast.



		Прочитайте абзац 2 и ответьте письменно на следующий вопрос:



When did trade with other Commonwealth members and with the sterling area decline?

























































Вариант №2



		Переведите письменно существительные (1-10). Выберите определения

 (a – j), соответствующие существительным: 



1) manager

a) raising money for a person

2) consumer

b) danger; a chance of suffering harm or loss

3) entrepreneur

c) anything that is done

4) benefits

d)  a person who buys goods or services

5) risk

e) one in charge of managing an  enterprise for business

6) job

f) a trademark or label that names a product   

7) research

g) a person who launches or manages a business venture

8) brand

h) a rise in the amount or size of something

9) increase

i) offers a public service as water, heat, electricity

10) utility 

j) a detailed study of a subject



		a) Выполните КОПР № 3, 5.

	б) В следующих предложениях подчеркните глагол-сказуемое, определите его видовременную форму и залог. Переведите предложения на русский язык.

	

1) Managing change effectively had been related to success before the economic crisis.

2) The company representatives have been negotiating a contract for two hours. 

3) The exhibition has always been the place for introducing new products and new technologies.







		a) Выполните КОПР № 1.

б) В следующих предложениях подчеркните герундий и инфинитив. Переведите предложения на русский язык. 



1) Organizations exist to combine human efforts in order to achieve certain goals.

2) We have to decide whether it’s worth risking the money

3) Entrepreneurs are responsible for such economic decisions as what to produce, how much to produce and what method of production to adopt.



		Письменно переведите на русский язык следующие предложения. Помните, что инфинитивные обороты часто соответствуют придаточным предложениям. 



1) Entrepreneurship is regarded to be the first step to success.

2)  You want us to help your company by lending you money, don’t you?

3) You expect us to save time for you and get nothing in return.



		Прочитайте и устно переведите на русский язык весь текст. Перепишите и письменно переведите абзацы 1, 2, 3.



Entrepreneurs



1. Entrepreneur is a person who organizes and manages a business. This is a French word that has been accepted into the English language. Entrepreneurs are a mystery to some people, especially those who are only comfortable with a nine-to-five existence. The entrepreneur is a business person who prefers to take calculated risks in order to be his or her own boss.

2. Sometimes the entrepreneur is regarded as a business person who takes risks. This is not so. An entrepreneur is a business person who minimizes risks. He does this by advance planning, research, and consideration of all factors that could affect his enterprise. When the entrepreneur forgets to do advance investigation and preparation, then he can be a failure.

3. Speaking about entrepreneurship, professor K.Vesper of the University of Washington says that “Business continue to be launched by people who didn’t make it the first time around. A driving force in entrepreneurship is addictiveness. Once people have a taste of freedom in a business of their own, they like it. They don’t want to go back to working for someone else.”

4. While the percentage of growth for men entering into business independence is not high, women’s increase in a single decade was 69 percent. There is no mystery here. Women go into business for the same reason men do – to make money and to be their own bosses. The rise in female entrepreneurship is like what the early-20th-century immigrants did – and the more recent waves of immigrants from different parts of the world. Entrepreneurship is regarded to be the first step to success. 



		Определите, являются ли приведенные ниже утверждения (1, 2, 3) 

а) истинными (true)

б) ложными (false) 

в) в тексте нет информации (no information)



An entrepreneur is regarded as a business person who takes risks. 

Once people have a taste of freedom in a business of their own, they don’t want to go back to working for someone else.

Each person who owns stock in a corporation becomes its co-owner. 





		Прочитайте абзац 5 и ответьте письменно на следующий вопрос:



Why do women go into business?









































































Вариант №3



		Переведите письменно существительные (1-10). Выберите определения

 (a – j), соответствующие существительным: 



1) decade

a) the amount as of money or goods, asked for or given in exchange for something else

2) export

b) business enterprise; a firm

3) business

c) to send or transport abroad, especially for trade or sale

4) company

d) the occupation, work, or trade in which a person is engaged

5) wage

e) a period of ten years

6) profit

f) articles produced to be sold

7) goods

g) payment for labor or services to a worker, especially remuneration on an hourly, daily, or weekly basis 

8) consumer

h) the capacity of a physical system to do work

9) price

i) the return received on an investment after all charges have been paid

10) energy

j) a person who buys goods or uses services









		a) Выполните КОПР № 3, 5.

	б) В следующих предложениях подчеркните глагол-сказуемое, определите его видовременную форму и залог. Переведите предложения на русский язык.



1) Figures show that unemployment has been growing since 1990s. 

2) Proposals have been put forward for increasing worker mobility.

3) Experts have been warning of the bankruptcy since the company was founded.







		a) Выполните КОПР № 1.

б) В следующих предложениях подчеркните герундий и инфинитив. Переведите предложения на русский язык. 



1) The two carmakers hope to achieve savings of 5% on common projects.  

2) American corporations begin to offer entire packages of services.

3) After some hard talking officials decided to take part in a meeting in Geneva.



		Письменно переведите на русский язык следующие предложения. Помните, что инфинитивные обороты часто соответствуют придаточным предложениям. 



1) Mobile operators appear to have realized that they need to open up their networks.  

2) The Fed is reported to accept the document issued by “government-sponsored” enterprises.

3) They called for America’s illegal immigrants to be treated sensibly and humanely.



		Прочитайте и устно переведите на русский язык весь текст. Перепишите и письменно переведите абзацы 2, 3, 4.



Land of the Rising Price



1. Japan is the place that should greet the return of inflation with joy. The country has had deflation for over a decade. After an economic recovery which began in 2002 firms pay better wages. 

2. Prices are on the rise. The Bank of Japan (BOJ) raised its forecast for ‘core’ inflation in the fiscal year ending in March 2009 to 1.8% up from 1.1%. But even Japan’s “core” inflation rate is rising, as higher prices for wholesale goods pass on to consumers. Higher prices not only do harm to Japan’s external strength. They are hurting companies’ profit margins at home.

3. The prices of Japan’s exports relative to imports have deteriorated for at least four years. Japan’s recovery was supported by strong exports to China, Europe and oil-exporting countries. In value terms, exports to America are shrinking. Now, export growth to Europe looks as if it is shaking.

4. For as long as money remains cheap, corporate restructuring is unlikely to take hold. Some companies will continue to earn for a living on a drip of cheap credit, while plenty of unproductive sectors and smaller businesses will escape the kind of consolidation they need.





		Определите, являются ли приведенные ниже утверждения (1, 2, 3) 

а) истинными (true)

б) ложными (false) 

в) в тексте нет информации (no information)



Japan has been in the grip of deflationary forces for over a decade.

A burst of inflation won’t provide what economy needs.

Consumers are not satisfied with higher prices in Japan. 





		Прочитайте абзац 1 и ответьте письменно на следующий вопрос:



What Japan’s recovery was supported by? 











































































Вариант №4



		Переведите письменно существительные (1-10). Выберите определения

 (a – j), соответствующие существительным: 



1) workforce

a) number of people living in a place, country, etc.

2) service

b) making of goods and materials

3) bank

c) the members of the population able to work

4) job

d) money paid regularly for work done

5) rise

e) business agreement

6) industry

f) system or arrangement that supplies public needs 

7) deal

g) establishment for keeping money and valuables safely

8) wage

h) employment, post

9) manufacturing

i)  upward progress

10) population

j) branch of trade and manufacture





		a) Выполните КОПР № 3, 5.

	б) В следующих предложениях подчеркните глагол-сказуемое, определите его видовременную форму и залог. Переведите предложения на русский язык.

	

1)  Before John celebrated his 26th birthday, he had started his own company.

2) The world’s leading gas and oil exporter has become one of the most attractive markets in the world.

3) The company has been dealing in car sales for many years.

	

	

	

	

	



		a) Выполните КОПР № 1.

б) В следующих предложениях подчеркните герундий и инфинитив. Переведите предложения на русский язык. 



1) Banks are interested in keeping most of their money in circulation so that it should bring them profit.

2)   In 1913 H. Ford began to use assembly-line techniques in his plant.

3) Many countries in Asia have an absolute advantage in manufacturing electronic goods.



		Письменно переведите на русский язык следующие предложения. Помните, что инфинитивные обороты часто соответствуют придаточным предложениям. 



1) The RF government is expected to put considerable efforts and financial resources into transport infrastructure, development and modernization.

2)  Most secretarial and clerical jobs require the applicant to take a written examination.

3) Some of the major investors wanted the bank to pay a higher interest rate.



		Прочитайте и устно переведите на русский язык весь текст. Перепишите и письменно переведите абзацы 2, 3.



Employment



1. By the year 2000 Britain’s working population – the workforce – was 27 million (nearly 50 per cent of the total population). Those in employment include full-time, part-time and self-employed people. People are employed in manufacturing and service.

2. Employment is also often divided into sections according to the types of work and social class. These categories include professional, manual and non-manual. A doctor, for example, is a professional in the service sector, while a steelworker would be a manual worker (skilled or unskilled) in the manufacturing sector. One trend is very clear in Britain: fewer people now make cars or work in coal mines; more work for banks and hotels.

3. In 1951 ninety-six per cent of the people in work in Britain had full-time jobs and the majority of these (seventy per cent) were held by men. By 2000 twenty-one per cent of jobs were part-time and forty-four per cent of workers were women. The basic employment trend of the 1980s continued, with a general rise in the number of part-time jobs for women, particularly in service industries. The number of people who were self-employed also rose due partly to new technologies and to changing work patterns.

4. There are big differences in pay between men and women. The average full-time wage for women is still only 80 per cent of the male average, even when the same job is involved. Certain highly-paid occupations such as surgery are still almost exclusively for men.



		Определите, являются ли приведенные ниже утверждения (1, 2, 3) 

а) истинными (true)

б) ложными (false) 

в) в тексте нет информации (no information)



Employment has risen among people over 55.

People are engaged in production and service.

The numbers of part-time jobs for women rose due partly to new technologies. 





		Прочитайте абзац 4 и ответьте письменно на следующий вопрос:



What are differences in pay between men and women?





































































Вариант №5



		Переведите письменно существительные (1-10). Выберите определения

 (a – j), соответствующие существительным: 



1) debt

a) the business of buying and selling a specified commodity

2) market

b) a governing body or organization

3) goods 

c) articles produced to be sold

4) government

d) the amount of money or goods, asked for or given in exchange for something else

5) price

e) something owed, such as money, goods, or services

6) taxpayer

f) an amount of cash or credit

7) money

g) a person who buys goods or uses services

8) bank

h) money in the form of bills or coins; currency

9) cash

i) a business establishment in which money is kept for saving or commercial purposes or is invested

10) consumer

j) one that pays taxes



		a) Выполните КОПР № 3, 5.

	б) В следующих предложениях подчеркните глагол-сказуемое, определите его видовременную форму и залог. Переведите предложения на русский язык.



1) Managers have been increasing sales these three years. 

2) The main car manufacturers have raised the prices for car parts .

3) Why have advertising agencies and marketing companies been interested?







		a) Выполните КОПР № 1.

б) В следующих предложениях подчеркните герундий и инфинитив. Переведите предложения на русский язык. 



1) It is very important to listen to customers.

2) You can enjoy the conversation without worrying about when to pay.

3) You should start by offering 10 percent to 15 percent less than the list price.



		Письменно переведите на русский язык следующие предложения. Помните, что инфинитивные обороты часто соответствуют придаточным предложениям. 



1) Advertisers are supposed to focus on young people.

2) The company is likely to expand into new markets in the US.

3) Retailers are expected to have a website, where customers can do research before going to the store.



		Прочитайте и устно переведите на русский язык весь текст. Перепишите и письменно переведите абзацы 1, 2, 3.



The US Economy



1. The United States of America has the world's largest economy. 2007 GDP is believed to be three times the size of the next largest economy, Japan. US dominance has been eroded by the creation of the European Union common market and by the rapid growth of the BRIC economies, in particular China.



2. The recent failure in the US housing and credit markets have resulted in a slowdown in the US economy. The forces of supply and demand directly drive the price levels of goods and services. What to produce, and how much of it is to be produced depends on the price level fixed by the interaction of supply and demand. 



3. The role of government in the US economy is very important when it comes to decision-making in monetary and fiscal policies. The federal government takes all the necessary initiatives to ensure the growth and stability of the United States. The US government makes full use of economic tools such as money supply, tax rates, and credit control to adjust the rate of economic growth. The US Federal Government also regulates the operations of private business concerns in order to prevent monopolies. The government provides support for national defense, monetary aid for research and development programs, funds for highway construction and infrastructure in general. 



4. The question of national debt is a controversial one within the US. American consumers are also increasingly dependent on debt and have been re-mortgaging their houses to higher loan amounts, and using the extra cash to fund shopping. This debt figure is the largest in the world in absolute terms, but as a percentage of GDP it is less than Japan and similar to several European countries. Most of the debt is funded by central banks and sovereign wealth funds from Asia, Europe and the Middle East.



		Определите, являются ли приведенные ниже утверждения (1, 2, 3) 

а) истинными (true)

б) ложными (false) 

в) в тексте нет информации (no information)



1) The US government makes full use of economic tools.

2) The president takes all the necessary initiatives to ensure the growth and stability of the United States.

3) The capital of the USA is Washington D.C.





		Прочитайте абзац 4 и ответьте письменно на следующий вопрос:



Are American consumers dependent on national debt?























































Тексты для дополнительного чтения



Text 1



ART OR SCIENCE?



      Like most things in our modern, changing world, the function of management is becoming more complex. The role of a manager today is much different from what it was one hundred years, fifty years or even twenty-five years ago.  At the turn of the century, for example, the business manager’s objective was to keep his company running and to make a profit. Most firms were production oriented. Few constraints affected management’s decisions. Governmental agencies imposed little regulations on business.  The modern manager must now consider the environment in which the organization operates and be prepared to adopt a wider prospective. That is, the manager must have a good understanding of management principles, an appreciation of the current issues and broader objectives of the total economic political, social, and ecological system in which we live, and he must possess the ability to analyze complex problems.

      The modern manager must be sensitive, and responsive to the environment - that is he should recognize and be able to evaluate the needs of the total context in which his business functions, and he should act in accord with his understanding.

       Modern management must possess the ability to interact in an evermore-complex environment and to make decisions.  A major part of the manager’s job will be to predict what the environment needs and what changes will occur in the future.

       Organizations exist to combine human efforts in order to achieve certain goals. Management is the process by which these human efforts are combined with each other and with material resources.  Management encompasses both science and art. In designing and constructing plans and products, management must draw on technology and physical science, of course, and, the behavioral sciences also can contribute to management. In handling people and managing organizations it is necessary to draw on intuition and subjective judgment. But although the artistic side of management may be declining in its proportion of the whole process it will remain central and critical portion of your future jobs. In short:

Knowledge (science) without skill (art), or dangerous;

Skill (art) without knowledge (science)  means stagnancy and inability to pass on learning;

















Text 2



                                           HISTORY OF ECONOMICS



      In the 1500s there were few universities.  Those that existed taught religion, Latin, Greek, Philosophy, history and mathematics. No economics. Then came the enlightenment (about 1700) in which reasoning replaced God as the explanation of why things were the way they were. Pre-Enlightenment thinkers would answer the question, “Why am I poor?” with, “Because God wills it”. Enlightenment scholars looked for a different explanation.  “Because of the nature of land ownership” is one answer the found.

      The amount of information expanded so rapidly that it had to be divided or categorized for an individual to have hope of knowing a subject. Soon philosophy 

 Was subdivided into science and philosophy.  In the 1700s, the sciences were split into natural sciences and social sciences. The late 1800s and early 1900s social science itself split into subdivisions: economics, political science, history, geography, sociology, anthropology, and psychology. Many of the insights about how the economic system worked were codified in Adam Smith’s The wealth of Nations, written in 1776.

       Throughout the 18th and 19th centuries economists such as Adam Smith, Thomas Malthus, John Stuart Mill, David Ricardo, and Karl Marx were more than economists; they were social philosophers who covered all aspects of social science. These writers were subsequently called Classical economists. Alfred Marshall continued in that classical tradition, and his book, Principles of Economics, published in the late 1800s, was written with the other social sciences in evidence. But Marshall focused on the questions that could be asked in a graphical supply-demand framework.  In doing so he began what is called neo-classical economics.

      Afterwards Marshal’s analysis was downplayed, and the work of more formal economists of the 1800s (such as Leon Warlas, Francis Edgeworth, and Antoine Cournot) was seen as the basis of the science of economics. Economic analysis that focuses only on formal interrelationships is called Walrasian economics….





Text 3



“INTERNATIONAL” MANAGERS



      Managers who can operate effectively across cultures and national borders are invaluable in global business. As more and more companies expand abroad, competition for top talent to run new international operations will steadily grow.

      The 2010s will test the capacities of multinational corporations to react rapidly to global changes in human resources as in all other areas of the company.

      Global selection systems enable a company to find the best person anywhere in the world for a given position. The system measures applicants according to a group of 12 character attributes. These twelve categories are: motivations, expectations, open-mindedness, and respect for other beliefs, trust in people, tolerance, personal control, flexibility, patience, social adaptability, initiative, and risk-taking, sense of humor, interpersonal interest, and spouse communication. An effective international executive displays a combination of desirable personal qualities. These include adaptability, independence, leadership, - even charisma.

      What part can management education play in developing the international manager? A good deal.  Management education can provide training in international marketing, finance and such international relations. Knowledge areas the international manager will need include understanding of the global economy and foreign business systems, international marketing, international financial management, political risk analysis and the ability to analyze and develop sophisticated global strategies.

      We can also point to skills such as communication, leadership, and motivation, decision-making, team-building and negotiation. Research indicates that national cultural differences can have important effects. The international manager is said to spend over half of his or her time in negotiation. International managers should know how foreign cultures affect organizational behaviour and management style. They should understand how their own culture affects their own style.



Text 4



SCIENTIFIC MANAGEMENT





      No one has had more influence on managers in the 20th century than Frederick W. Taylor, an American engineer. He set a pattern for industrial work which many others have followed, and although his approach to management has been criticized, his ideas are still of practical importance.

      Taylor founded the school of Scientific Management just before the 1914-18 war. He argued that work should be studied and analyzed systematically. The operations required to perform a particular job could be identified, then arranged in a logical sequence. After this was done, a worker’s productivity would increase. The new method was scientific. The way of doing a job would be no longer be determined by guesswork and rule-of-thumb practices. If the worker followed the prescribed approach, his-her output would increase.

      Taylor’s solutions to the problems were based on his own experience. He conducted many experiments to find out how to improve productivity. He felt that managers used not the right methods and the workers didn’t put much effort into their job. He wanted a new approach to be adapted to their work. The new way as follows:

Each operation of a job was studied and analyzed;

 Using the information, management worked out the time and method for each job, and the type of equipment.

The work was organized so that the worker’s only responsibility was to do the job in the prescribed manner.

Men with the right physical skills were selected and trained for the job.

The weakness of his approach was that it focused on the system of work rather than on the worker. With this system a worker becomes a tool in the hands of management. Another criticism is that it leads to deskilling – reducing the skills of workers. And with educational standards rising among factory workers, dissatisfaction is likely to increase.



Text 5





                            THE BASICS OF CORPORATE STRUCTURE





CEOs, CFOs, presidents and vice presidents: what’s the difference? With the changing corporate horizon, is has become increasingly difficult to keep track of what people do and where they stand on the corporate ladder. Should we be paying more attention to news relating to the CFO or the vice president? What exactly do they do?

Corporate governance is one of the main reasons that these terms exist. The evolution of public ownership has created a separation between ownership and management. Before the 20th century, many companies were small, family owned and family run.  Today, many are large international conglomerates that trade publicly on one or many global exchanges.

In an attempt to create a corporation where stockholders’ interests are looked after, many firms have implemented a two-tier corporate hierarchy. On the first tier is the board of governors or directors: these individuals are elected by the shareholders of the corporation. On the second tier is the upper management: these individuals are hired by the board of governors. Let’s begin by taking a closer look at the board of governors and what its members do.

Board of Directors.

Elected by the shareholders, the board of directors is made up of two types of representatives. The first type involves individuals chosen from within the company. This can be a CEO, CFO, manager or any other person who works for the company on a daily basis. The other type of representative is chosen externally and is considered to be independent from the company. The role of the board is to monitor the managers of a corporation, acting as an advocate for stockholders. In essence, the board of directors tries to make sure that shareholders’ interests are well served.

Board members can be divided into three categories:

-	Chairman - Technically the leader of the corporation, the chairman of the board is responsible for running the board smoothly and effectively. His or her duties typically include maintaining strong communication with the chief executive officer and high level executives, formulating the company’s business strategy, representing management and the board to the general public and shareholders, and the maintaining corporate integrity.  A chairman is elected from the board of governors.

Inside Directors – These directors are responsible for approving high-level budgets prepared by upper management, implementing and monitoring business strategy, and approving core corporate initiatives and projects. Inside directors are either shareholders or high-level management from within the company. Inside directors help provide internal perspectives for other board members. These individuals are also referred to as executive directors if they are part of company’s management team.

Outside directors – While having the same responsibilities as the inside directors in determining strategic direction and corporate policy, outside directors are different in that they are not directly part of the management team. The purpose of having outside directors is to provide unbiased and impartial perspectives on issues brought to the board.



Text 6



THE JOB OF MANAGEMENT



      A strong management is the backbone of any successful company. This is not to say that employees are not also important, but it is management that ultimately makes the strategic decisions. You can think of management as the captain of a ship. While not physically driving the boat, he or she directs others to look after all the factors that ensure a safe trip.



Management Career Paths

A management career path is not a straight line. Nor is it the same for everyone. Yet all management career paths have a starting point. All have milestones along the way. Each paths leads managers to what they need to know based on where you are in your career and where your interests lie. On each visit you can go further along the path retrace steps along the same path, or start down a new path. Five paths are listed below

1. Considering Management

This person wonders whether a management career if for them. Maybe someone has suggested it. Maybe they just feel they can do it better than their current boss. Take this path to learn more about what management does and whether management might be for you.

2. Just Starting Management

This person has just started or is about to start, their first management job. This path will guide you through those first confusing challenging days and months. It takes you through the basic knowledge needed to be a manager and how to deal with the problems that crop up.

3. Going for it

This person has decided to try the management career path. They have no management experience yet, but are interested and motivated. This path leads to the knowledge and skill needed to land that first management job.

4. Experienced manager

This manager has had several years experience in management. He or she has had time to make mistakes and achieve some successes in the real world and now want to improve. This path leads to the resources to improve their skills and their promotion potential.

5. Management Pros and Consultants

These are veteran managers interested in increasing and sharing their professional knowledge and experience. They have managed different and difficult opportunities, but they know there is always more to learn. This path connects them with their peers and to cutting-edge theory.



Text 7



LONDON AND FINANCE



     London, the capital of the United Kingdom, is a political, cultural, commercial, industrial and financial centre of the country. At the same time London is one of the world’s financial capitals. The business centre of London is the City, where numerous banks, various exchanges, insurance offices, shipping and other companies have their head offices. 

     London is also the headquarters of many prominent international banking and insurance concerns which deal in foreign shares, insurance and bonds and handle English investments in other countries.

     The central feature of government finance is the Bank of England, founded under a royal charter as a private company in 1694 to provide loans to the Government and nationalized in 1946 by Act of Parliament. The Bank of England is the country’s national bank, it carries out government monetary policies and acts as the ‘banker’s bank’ for privately owned banks and other Commonwealth nations. 

     Most domestic banking operations of the United Kingdom are carried on by the commercial clearing banks. The main commercial banks are Lloyds Bank, Barclays Bank, Midland Bank and National Westminster Bank, often referred to as ‘the Big Four.

     Paper currency in circulation is issued by the Bank of England. The monetary unit is the pound sterling equal to 100 pence.





Text 8



THE LONDON STOCK EXCHANGE



     London, the capital of the United Kingdom, is a political, cultural, commercial, industrial and financial centre of the country. At the same time London is one of the world’s financial capitals. The business centre of London is the City, where

numerous banks, various exchanges, insurance offices, shipping and other companies have their head offices.  

     At the heart of the City is the London Stock Exchange where millions of shares and securities are traded daily.  There are also exchanges in several other cities of the United Kingdom but the London Stock Exchange is the most important. Here through the Exchange members the investor can buy or sell shares in any of the thousands of companies which are quoted on the Exchange and many more companies which are quoted on recognized exchanges overseas. The London Stock Exchange offers the largest range and number of securities quoted on any Stock Exchange in the world. In volume of business it ranks third to New York and Tokyo.

     London is also the headquarters of many prominent international banking and insurance concerns which deal in foreign shares, insurance and bonds and handle English investments in other countries.



Text 9

A VEXING MARKET

The urge to call the market's direction is fierce. Trouble is that is devilishly hard to do. It's best to be wary of those who build their investment strategies around market timing. Also dangerous: people who think they see turning points at which all the old laws about investing are repealed. In the late 1990s a lot of investors were convinced that technology had given rise to a new paradigm in which the market's direction would be ever sky- ward. The mantra of that era -"It's different this time"—came crashing down when investors realized that profit-free Internet companies weren't such a good idea after all.

Vintage periodicals give us a window on how wrong market forecasts can be. My collection of market memorabilia includes the 1979 BusinessWeek issue with the infamous "Death of Equities" cover. I also retain a lesser-known and more accurate FORBES issue from a month later, "Back From the Dead?", pooh-poohing the silly notion that stocks were finished just because there had been a prolonged bear market. The roaring 1980s gave lie to the BusinessWeek story. One thing that hasn't changed is the long- term viability and resilience of the stock market.

Let's look at what has changed. Another old magazine I own, a 1950 Time, had a cover highlighting very cheap blue chips with very high yields. General Motors had a price/earnings multiple of 6 and a dividend yield of 11%, Boeing a 7 P/E and an 8.6% yield, Phelps Dodge a 7 PIE and an 8.3% yield. At the time the S&P 500 had an average PIE of 7 and yielded 6.9%. All this came at a time when long-term Treasuries offered a mere 2.3% yield to maturity.



Text 10



STOCK MARKETS

Today the S&P 500 has a 19 PIE and a 2% dividend yield. It's not as cheap as it was 55 years ago. But does that mean that stocks are a bad buy? No. The current market is different in that it is the first bull market in the last half-century where multiples have contracted. At the start of this bull market in October 2002, the market P/E was 27. Stocks have since climbed, yet multiples are down because earnings have climbed even faster.

My firm recently analyzed the market's reaction to three dozen monthly economic indicators and found that the ones with the greatest effect are not those that measure the economy, inflation or monetary conditions. Rather, the sharpest moves come from sentiment measures such as consumer confidence.

Technical analysis doesn't offer much help here. Technicians, noting the strength in the advance-decline line lately, have forecast at least six more months of higher prices. Of course, when more stocks are advancing than declining it is a bullish signal. These same worthy souls apparently have forgotten the lesson of 1999, when they argued that the market was going down because that indicator was negative; the S&P ended that year with a 19% gain. My hint on the advance-decline line is that within a bullish climate it tends to peak 12 months before the market. No one can tell when it is peaking until afterward, though.



Text 11

INTRODUCTION TO ECONOMIC ACTIVITY

Economic activity began with the caveman, who was economically self-sufficient. He did his own hunting found his own shelter, and provided for his own needs. As primitive populations grew and developed, the principle of division of labour evolved. One person was more able to perform an activity than another and therefore each person concentrated on what he did best. While one hunted, another fished. The hunter then traded his surplus to the fisherman, and thus each benefited.

In today's complex economic world, neither individuals nor nations are self-sufficient. Nations have utilized different economic resources; people have developed different skills. This is the foundation of world trade and economic activity. As a result of this trade and activity, international finance and banking have evolved.

For example, the United States is a consumer of coffee, yet it does not have the climate to grow any of its own. Consequently, the United States must import coffee from countries (such as Brazil) that grow coffee. On the other hand, the United States has large industrial plants capable of producing a variety of goods, which can be sold to countries that need them.

If nations traded item for item, such as one automobile for 10,000 bags of coffee, foreign trade would be cumbersome and restrictive.

But instead of barter, which is the trade of goods without an exchange of money, all countries receive money in payment for what they sell. The United States pays for Brazilian coffee with dollars, which Brazil can then use the wool from Australia, which in turn can buy textiles from Great Britain, which can then buy tobacco from the United States.

Foreign trade, the exchange of goods between nations, takes place for many reasons such as: no nation has all the commodities that it needs, a country often does not have enough of a particular item to meet its needs, and one country can sell some items at a lower cost than other countries.







Text 12



FOR BANKING OPERATIONS

Seventeenth-century English goldsmiths provided the model for contemporary banking. Gold stored with these artisans for safekeeping was expected to be returned to the owners on demand. The goldsmiths soon discovered that the amount of gold actually removed by owners was only a fraction of the total stored. Thus, they could temporarily lend out some of this gold to others, obtaining a promissory note for principal and interest In time, paper certificates redeemable in gold coin were circulated instead of gold. Consequently, the total value of these banknotes in circulation exceeded the value of the gold that was exchangeable for the notes.

Two characteristics of this fractional reserve banking remain the basis for present-day operations. First, the banking system's monetary liabilities exceed its reserves. This feature was responsible in part for Western industrialization, and it still remains important for economic expansion. The excessive creation of money, however, may lead to inflation. Second, liabilities of the banks (deposits and borrowed money) are more liquid — that is, more readily convertible to cash-than are the assets (loans and investments) included on the banks' balance sheets. This characteristic enables consumers, businesses, and governments to finance activities that otherwise would be deferred or cancelled; however, it underlies banking's recurrent liquidity crises. When too many depositors request payment, the banking system is unable to respond because it lacks sufficient liquidity. The lack of liquidity means that banks must either abandon their promises to pay depositors or pay depositors until the bank runs out of money and fails. The advent of deposit insurance in the United States in 1935 did much to alleviate the fear of deposit losses due to bank failure and has been primarily responsible for the virtual absence of runs on US banks.



Text 13

COMMERCIAL BANKING IN THE USA

Commercial banks are the most significant of the financial intermediaries, accounting for some 60 percent of the nation's deposits and loans. The first bank to be chartered by the new federal government was the Bank of the United States, established in Philadelphia in 1791. By 1805 it had eight branches and served as the government's banker as well as the recipient of private and business deposits. The bank was authorized to issue as legal tender banknotes exchangeable for gold.

In the next three decades the number of banks grew rapidly in response to the flourishing economy and to the system of "free banking", that is, the granting of a bank charter to any group that fulfilled stated statutory conditions. Government fiscal operations were handled initially by private bankers and later (after 1846) by the Independent Treasury System, a network of government collecting and disbursing offices. The National Bank Act (1864) established the office of the comptroller of the currency to charter national banks that could issue national banknotes (this authority was not revoked until 1932). A uniform currency was achieved only after a tax on nonnational banknotes (1865) made their issuance unprofitable for the state-chartered banks. State banks survived by expanding their deposit-transfer function, continuing to this day a unique dual banking system, whereby a bank may obtain either a national or a state charter.

The stability hoped for by the framers of the National Bank Act was not achieved; banking crises occurred in 1873, 1883, 1893, and 1907, with bank runs and systemic bank failures. The Federal Reserve Act (1913) created a centralized reserve system that would act as a lender of last resort to forestall bank crises and would permit a more elastic currency to meet the needs of the economy. Reserve authorities, however, could not prevent massive bank failures during the 1920s and early 1930s.

The Banking Acts of 1933 and 1935 introduced major reforms into the system and its regulatory mechanism. Deposit banking was separated from investment banking; the monetary controls of the Federal Reserve were expanded, and its powers were centralized in its Board of Governors; and the Federal Deposit Insurance Corporation was created.



Text 14



BANKS AND BANK ACCOUNTS

Banks and bank accounts are regulated by both state and federal statutory law. Bank accounts may be established by national and state chartered banks, and savings associations. All are regulated by the law under which they were established.

Until the early 1980's interest rates on bank accounts were regulated and controlled by the national government. A ceiling existed on interest rates for savings accounts. Interest payments on demand deposit accounts were generally prohibited. Banks were also prohibited from offering money market accounts. The Depository Institutions Deregulation Act of 1980 (D1DRA) eliminated the interest rate controls on savings accounts. The restrictions on checking and money market accounts were lifted nationwide.

The operation of checking accounts is governed by state law supplemented by some federal law. Article 4 of the Uniform Commercial Code, which has been adopted at least in part in every state, "defines rights between parties with respect to bank deposits and collections." Part 1 of the Article contains general provisions and definitions. Part 2 governs the actions of the first bank to accept the check (depository bank) and other banks that handle the check but are not responsible for its final payment (collecting banks). Part 3 governs the actions of the bank that is responsible for the payment of the check (payer bank). Part 4 governs the relationship between a payer bank and its customers. Part 5 governs documentary drafts. These are checks or other types of drafts that will only be honored if certain papers are first presented to the payer of the draft.

The banking crisis of the 1930's led to the development of federal insurance for deposits which is currently administered by the Federal Deposit Insurance Corporation. Funding for the program comes from the premiums paid by member institutions. The bank accounts of individuals at institutions which are insured are protected for up to an aggregated total of $100,000.



Text 15



INTERNATIONAL TRADE ORGANIZATIONS, CONFERENCES

AND TREATIES

A large number of organizations exist that affect the multinational markets for goods, services, and investments.

GATT 1994 and WTO. The General Agreement on Tariffs and Trade 1994 (GATT 1994) is a multilateral treaty subscribed to by 125 member governments. It consists of the original 1947 GATT, numerous multilateral agreements negotiated since 1947, the Uruguay Round Agreements, and the agreement establishing the World Trade Organization (WTO). On January 1, 1995, the WTO took over responsibility of the former GATT organization. Since 1947 and the end of the World War II era, the goal of the GATT has been to liberalize world trade and make it secure for furthering economic growth and human development.

The GATT is based on the fundamental principles of (1) trade without discrimination and (2) protection through tariffs. The principle of trade without discrimination is embodied in its most favored nation clause. All member countries grant each other equal treatment. All member countries are equal and share the benefits of any moves toward lower trade barriers. Exceptions to this basic rule are allowed in regard to the European Union (EU) and the North American Free Trade Agreement (NAFTA). Special preferences are also granted to developing countries. The second basic principle is protection for domestic industry, which should be extended essentially through a tariff, not through other commercial measures. The aim of this rule is to make the extent of protection clear and to make competition possible.

The new WTO provides a Dispute Settlement Body (DSB) to enable member countries to resolve trade disputes. The DSB appoints panels to hear disputes concerning allegations of GATT agreement violations. If a GATT agreement violation is found and not removed by the offending country, trade sanctions authorized by a panel may be imposed on that country in an amount equal to the economic injury caused by the violation.





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EUROPEAN UNION



The European Economic Community (EEC) was established in 1958 by the Treaty of Rome in order to remove trade and economic barriers between member countries and to unify their economic policies. It changed its name and became the European Union (EU) after the Treaty of Maastricht was ratified on November 1, 1993. The Treaty of Rome contained the governing principles of this regional trading group. The treaty was signed by the original six nations of Belgium, France, West Germany, Italy, Luxembourg, and the Netherlands. Membership expanded by the entry of Denmark, Ireland, and Great Britain in 1973; Greece in 1981; Spain and Portugal in 1986; and Austria. Sweden, and Finland in 1995.

Four main institutions make up the formal structure of the EU. The first, the European Council, consists of the heads of state of the member countries. I he council sets broad policy guidelines tor the EU. The second, the European Commission, implements decisions of the council and initiates actions against individuals, companies, or member states that violate EU law. The third, the European Parliament, has an advisory legislative role with limited veto powers. The fourth, the European Court of Justice (ECJ), is the judicial arm of the EU. The courts of member states may refer cases involving questions on the EU treaty to the ECJ.

The Single European Act eliminated internal barriers to the free movement of goods, persons, services, and capital between EU countries. The Treaty on European Union, signed in Maastricht, Netherlands (the Maastricht Treaty), amended the Treaty of Rome with a focus on monetary and political union. It set goals for the EU of (1) single monetary and fiscal policies, (2) common foreign and security policies, and (3) cooperation in justice and home affairs.













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THE FUNCTION OF BANKS IN NATIONAL ECONOMY



To be able to understand the role and the work of banks properly, we must first say what the term 'national economy' means. It covers three principal fields: industry, commerce and direct services.

Industry provides energy, raw materials and goods. The extractive industry produces coal, oil, gas, iron ore and a number of other metals and minerals from the ground or seabed. These are needed by the manufacturing industry for the production of machines and all those goods, which the customers buy: the car, the TV set, furniture, the dishwasher in the kitchen etc.

However, we do not get these goods direct from the factory but buy them in a shop or a department store. They are transported there and delivered to our homes by railroad, sometimes by ship or air, especially if they have been imported.

This brings us to another field of economy, commerce, which can be divided into trade and the service industries.

Trade is the buying and selling of any commodity. It can be divided into home trade and foreign trade.

A television set is transported several times before we can switch it on in our living room. Transport is, of course, a service which industry, trade and the consumer make use of. But it is only one of the service industries.

If the television set is damaged or gets lost while being transported, the insurance pays for this. Insurance is a service industry that specialises in covering risks of all kinds: damage, loss, fire, accidents - to give just a few examples.

Industry and commerce depend on precise, up-to-date information, which could not be provided, if we did not have our highly developed communication services like the telephone, telex and the post.

You may have noticed that banks have not been mentioned yet. Where does banking link up with the other sectors of a national economy? The simple answer is everywhere.

Banking:

•  collects money from its clients in small or large amounts

•  provides efficient means and methods of payment for goods and services

•  finances industry, commerce and direct services

•  grants credits to consumers for the purchase of consumer goods

•  sells foreign currencies

•  has contacts with all important national and international money and capital markets, etc.











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MONEY

Money is anything that is in general use in the purchase of goods and services and in the discharge of debts. Money may also be defined as an evidence of debt owed by society. The money supply in the US consists of currency (paper money), coins, and demand deposits (checking accounts). Currency and coins are government-created money, whereas demand deposits are bank-created money. Of these three components of the money supply, demand deposits are by far the most important. Thus, most of the money supply is invisible, intangible, and abstract.

The two most important inherent attributes that money must possess in a modern credit economy are acceptability and stability. In earlier times in the evolution of money and monetary institutions in the United States, the attributes of divisibility, portability, and visibility were important. The two legal attributes of 'legal tender' and 'standard money' are not of as much importance today as in the past.

The four functions that money often performs are (1) standard of value, (2) medium of exchange, (3) store of value, and (4) standard of deferred payment. In a modern specialized economy, (2) and, most especially, (1) are the most important of these.

Although it is agreed that the value of money has fallen in the US over time, there are three in part conflicting theories of value that have been advanced to explain this phenomenon: the commodity, quantity, and income theories. Most economists today espouse either the second or, more typically, the third of these. Any money can retain its value as long as its issuance is limited; it need not have a commodity backing. Inflation or rising prices have been explained by demand and/or supply theories in recent years, although historically the former has been thought to provide the more satisfactory explanation.



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MONEY AND ITS FUNCTIONS

All values in the economic system are measured in terms of money. Our goods and services are sold for money, and that money is in turn exchanged for other goods and services. Coins are adequate for small transactions, while paper notes are used for general business. There is additionally a wider sense of the word 'money', covering anything, which is used as a means of exchange, whatever form it may take. Originally, a valuable metal (gold, silver or copper) served as a constant store of value, and even today the American dollar is technically 'backed' by the store of gold which the US government maintains. Because gold has been universally regarded as a very valuable metal, national currencies were for many years judged in terms of the so-called 'gold standard'.

Nowadays however valuable metal has generally been replaced by paper notes. National currencies are considered to be as strong as the national economies, which support them. Paper notes are issued by governments and authorized banks, and are known as 'legal tender'.

The value of money is basically its value as a medium of exchange, or as economists put it, its 'purchasing power'. This purchasing power is dependent on supply and demand. If too much money is available, its value decreases, and it does not buy as much as it did, say five years earlier. This condition is known as 'inflation'.



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INFLATION

The control of rising prices and the depreciating value of money has been an aim of economic policy for many years. In the past, it was thought that the control of inflation created unemployment and that inflation only occurred at times of full or near-full employment. In recent years, the problem has been much more serious because rising inflation has been accompanied by high levels of unemployment.

A simple description of inflation is too much money chasing too few goods. It poses a serious problem because it has so many bad effects. The first obvious one is that one's money buys less and less as prices of goods and services continue to rise and one's standard of living falls as a result. This is made worse by the fact that people of low and fixed incomes, for example pensioners, are most seriously affected and they are the least able to help themselves.

It is argued by some economists that some inflation is good for the economy, since deflation leads to unemployment and depression, but clearly, a high level of inflation is injurious and makes economic progress difficult, if not possible. Successive governments, therefore, introduce policies which are designed to control inflation. These fall into two groups. The first aims to decrease demand for goods and services. It includes increases in taxation, restriction of credit, and raising of interest rates, all of which reduce consumers' spending power (demand). These measures are usually supported by reduced government expenditure which, in turn, decreases the amount of money circulating in the economy and is therefore a further control on demand.

The second group of measures aims to hold or reduce costs and therefore prices. The chief measure is the carrying out of an incomes policy designed to control wages and salaries at a specified level or specific ones to the level of increased productivity achieved.

Economists talk of, and distinguish between, cost-push inflation -price rises which occur because the costs of production are increasing more than output, and demand-pull inflation - price rises which occur as a result of increased demand. The two types of inflation are closely connected.

Control of inflation

In recent years many measures have been used in an attempt to control inflation. The main ones have been those which limit rises in incomes and prices. While prices and incomes policies do help to control inflation, they obviously do not provide a complete answer. The level of prices at home depends to some extend on the prices of imports, which are determined by factors outside our control, as well as on the value of home currency, which depends partly on the levels of other countries' currencies.

The only permanent answer to the control of inflation is an increase in productivity - and consequently total production - that is easier said than achieved. Many internal and external influences govern economic activity and performance. The government must try to influence and control these for the best interests of the country and its people, through measures which affect the supply of money in the economy, taxation and other controls.











































































Приложение 



Федеральное агентство по образованию

ГОУ ВПО

ВСЕРОССИЙСКИЙ ЗАОЧНЫЙ ФИНАНСОВО-ЭКОНОМИЧЕСКИЙ ИНСТИТУТ







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КОНТРОЛЬНАЯ РАБОТА №___



по дисциплине ______________________________________

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Москва – 200__





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