Vocabulary. Read the dialogue in pairs and do the following exercises. 1 – I hear that Sam lost his job

B.

A.

SPEAKING

Read the dialogue in pairs and do the following exercises.

1 –	I hear that Sam lost his job. Did you hear that, too?
2 –	I did hear something about his job being abolished.
1 –	What a terrible thing to happen now, just when he and Helen are expecting their first baby!
2 –	It is a shame, I’ll admit, but I told Sam months ago to get out of that place where he works and get another job. I had a feeling that the company wasn’t very stable financially.
1 –	You mean it’s not a strong company? I’d always thought it was one of the strongest around.
2 –	If you’ve been reading the news in the financial section, you could see that the company was headed^1 for trouble. I wouldn’t be surprised to see it go bankrupt before the end of the year.
1 –	It sure is too bad. Is there anything we can do for Sam?
2 –	I’m going to call him this afternoon. I heard yesterday that there’s going to be an opening^2 in the section where I work. He can get his application in^3 today.
1 –	I’ll check things out^4 with my boss, too. There may be something open in one of the departments over in Fairmont.

Notes:

1. to head – to move or go in a certain direction;

2. opening – place or position that is vacant;

3. to get in – to submit;

4. to check out – to prove true.

Ex. 1. Conversation in context

1. What is Sam’s relationship to the speakers?

2. Where does the discussion take place?

3. Is Sam present?

4. Can the speakers help Sam?

Ex. 2. Personal application

1. Did you ever lose your job? If so, describe how it felt.

2. What are the most financially stable companies in your country?

3. Do you get along well with your boss?

4. Are there any openings where you work?

5. Would your friends help you find a job?

Speak on:

– the basic cause of the business cycle;

– the phases of the business cycle;

– business cycle theories;

– the definition of unemployment, its types

– the reasons for unemployment;

– the impact of technology changes on unemployment;

– the geographic distribution of jobs;

– costs of unemployment;

– positive sides of frictional and structural unemployment;

– the goal of full employment;

– the Philips Curve.

boom n – экономический подъем

business cycles – экономический цикл

depreciate v – обесцениваться

depression n – экономический спад

deteriorate v – ухудшаться

employment n – занятость

full ~ – полная занятость

expansion n –расширение; распространение

gap n – разрыв

deflationary ~ – дефляционный разрыв

hinder v – препятствовать

inputs n – затраты

lay off v – увольнять

obsolete adj – устарелый

output n – выпуск (продукции)

peak n – пик, высшая точка колебания

recession n (syn. contraction, downturn) – спад производства, рецессия

recovery n (syn. upturn, expansion) – восстановление, оживление, подъем

seek v – искать

shortage n (syn. deficit) – недостаток, дефицит

switch v – изменять направление; переключать

temporary adj – временный

trough n – низшая точка, «дно» цикла

turnover n – оборот капитала

unemployment n -- безработица

cyclical ~ – циклическая безработица

frictional ~ – фрикционная безработица

structural ~ – структурная безработица

GLOSSARY

· Business cycle – alternating periods of economic growth and contraction, which can be measured by changes in real GDP.

· Cyclical unemployment – unemployment caused by the lack of jobs during a recession.

· Economic growth – an expansion in national output measured by the annual percentage increase in a nation’s real GDP.

· Frictional unemployment – unemployment caused by the normal search time required by workers with marketable skills who are changing jobs, initially entering the labour force, re-entering the labour force, or seasonally unemployed.

· Full employment – the situation in which an economy operates at an unemployment rate equal to the sum of the frictional and structural unemployment rates.

· Peak – the phase of the business cycle in which real GDP reaches its maximum after rising during a recovery.

· Recession – a downturn in the business cycle during which real GDP declines.

· Recovery – an upturn in the business cycle during which real GDP rises; also called an expansion.

· Structural unemployment – unemployment caused by a mismatch of the skills required for existing job opportunities.

· Trough – the phase of the business cycle in which real GDP reaches its minimum after falling during a recession.

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