Business Cycles

BUISINESS CYCLES

UNIT 6

Grammar: Modal Verbs: expressing obligation and recommendation

Assignment 1. Read and learn the following words and phrases.

business cycle – економічний цикл; цикл ділової активності;

phase – фаза, період; bottom ~ – найнижча фаза;

boom – бум, швидке зростання (ділової активності);

contraction – скорочення;

recession – спад, падіння;

expansion – зростання, розвиток; розширення;

to expand – розширятись; зростати; розвиватись;

fluctuation – коливання;

peak – найвища точка, пік;

to set stage (for) – готувати всі умови (для);

for any number of reasons – за будь-яких причин;

to cut back – скорочувати; зменшувати;

to lay off – звільнити з роботи (тимчасово); layoff – тимчасове звільнення;

to operate – діяти, працювати;

capacity – потужність, продуктивність;

decline – занепад;

to fail – занепадати;

severe – глибокий; сильний; важкий;

depression – депресія;

to recover – відновлюватись; оживати; покращуватись;

to hire – наймати на роботу;

external – зовнішній;

internal – внутрішній;

cause – причина; to cause – спричинювати;

invention – винахід;

innovation – нововведення; інновація;

event – подія;

to concern – стосуватись.

Assignment 2. Read and translate the text.

The economy is a very complex system that is continuously developing. When economists describe changes in business activity they speak of business cycles and their phases: boom, contraction, recession, and expansion, also known as economic fluctuations.

The peak of the business cycle is called boom. During peak times business investments and consumer spending are at very high levels. Unemployment is low, consumers have plenty of money to spend, and the demand for goods and services is increasing. Such situation leads to the increase in prices and sets stage for the next phase of business cycle – contraction.

For any number of reasons consumers and businesses begin to reduce their spending. Firms begin to cut back their activities. Production is reduced and many workers are laid off. Workers, who are also consumers, begin to spend less. This leads to still more reductions in production and additional worker layoffs.

When enterprises are operating at less than their capacity and unemployment is at very high levels, the economy enters the period of decline. This is the bottom phase of the business cycle, the phase of recession. At this time the total output of goods and services declines and many businesses fail. Total spending also declines as income falls and unemployment rises. A very severe and long-lasting recession is called a depression.

After a period of recession the economy eventually begins to recover, entering the expansion phase of the business cycle. During the expansion period the conditions start to improve: businesses begin to expand their activities, workers are hired and unemployment declines. This leads to higher levels of consumer spending and still further expansion of employment, output and consumption.

In explaining business cycle fluctuations economists often distinguish between external and internal causes. External factors that lie outside the economic system affect the economy because of population changes, inventions and innovations, and other important political and social events. Internal causes are those within the economy and concern such factors as consumption, business investment, and government activities.

Assignment 3. Answer the following questions.

1. What term do economists use to describe changes in business activity?

2. What are the four phases of a business cycle?

3. What economic situation characterizes the peak of a business cycle?

4. What phase follows boom?

5. How can we describe the economic activity during the contraction phase?

6. Why does contraction lead to decline in the economy?

7. How do we define a very severe and long-lasting recession?

8. What phase of a business cycle follows recession?

9. How does economy behave during the expansion period?

10. What are the external causes of business cycle fluctuations?

11. What factors within the economy cause economic fluctuations?

Assignment 4. Translate into English.

Складна система; безробіття знаходиться на низькому рівні; додаткове звільнення робітників; фірми згортають свою діяльність; глибокий та довготривалий спад; економіка нарешті починає відроджуватись; знаходитись (лежати) за межами економічної системи.

Assignment 5. Translate into Ukrainian.

To be continuously developing; also known as; plenty of money to spend; still more/ still higher/ still further; the total output declines; to enter the … phase of the business cycle; the conditions start to improve; economists distinguish between; factors that affect the economy.

Assignment 6. Match the synonyms. Use any 5 words in the sentences of your own.

A: boom, contraction, to hire, to operate, decline, capacity, eventually, to lay off, expansion, to fail, to cut back, to affect;

B: growth, reduction, to influence, to dismiss, to bust, finally, recession, prosperity, productivity, to employ, to reduce, to function.

Assignment 7. Paraphrase the words in bold style.

1. The factory is functioning at less than its maximum productivity. 2. We must improve the quality of our products unless we shall face the contraction of orders from our customers. 3. Finally he decided to dismiss 20 workers. 4. If this plan busts they won’t be able to influence the situation in the market. 5. We needn’t reduce our activity as we have found new suppliers. 6. In the period of prosperity economic activity is at the high level. 7. The phase of decline is the bottom phase of a business cycle. 8. They decided to replace all computers in the office and employed a specialist to install the new equipment.

Assignment 8. Match the opposites. Use any 5 words in the sentences of your own.

A: peak, boom, contraction, lay off, outside, external, cause;

B: result, expansion, internal, within, bottom, recession, hire.

Assignment 9. Match the term with its definition. Translate the definitionsand learn them.

Business cycle	1. A dismissal of employees; 2. Period of unemployment.
Boom	Maximum amount of output or productivity.
Recession	A significant expansion of business and investment, either across an economy or in a specific market.
Capacity	Economic boom and bust. A recurrent cycle of growth, decline, recession, and recovery in the economic activity of a country.
Layoff	A period during which there is a decline in economic activity and prosperity.

Assignment 10. Formulate the disjunctive questions.

1. Last year this company started to cut back their activities, …? 2. External causes lie outside the economic system, …? 3. Businesses are operating at less than their capacity, …? 4. A very severe and long-lasting recession is called a depression, …? 5. After complete reorganization the conditions have been improved, …?

Assignment 11. 1. Use the suffix - (t/s)ion to form corresponding nouns from the following verbs. 2. Translate the noun phrases below. 3. Use any 5 phrases in the sentences of your own.

To expand, to contract, to fluctuate, to invent, to operate, to depress, to reduce, to consume, to produce.

Розширення торгівлі, згортання діяльності, коливання економіки, винахід нового продукту, функціонування заводу, період депресії, зниження заробітної платні, споживання послуг, виробництво споживчих товарів.

Assignment 12. 1. Learn the difference between to lay and to lie.

To lay – laid – laid – laying – класти (щось) – has an object:

e.g. I usually lay (what?) the papers in the file.

To lie – lay – lain – lying – 1. лежати; 2. знаходитись, розміщуватись; – has no object:

e.g. External factors of economic fluctuations lie outside the economic system

2. Insert lay or lie in the proper form to complete the sentences below.

1. After the war the economy … in ruins. 2. At the yesterday’s meeting he … his ideas before the top management of the firm. 3. The doctor recommended her to … down and have some rest. 4. She … the documents on the table and went home. 5. Ireland … to the west of Great Britain. 6. Millions of workmen …. off during the time of the Great Depression in America.

Assignment 13. Insert the words from the list below to complete the sentences.

internal causes, expansion, fluctuations, boom, business cycle, output, recession, spending, laid off

1. The highest and the lowest phases of economic … are called … and … respectively. 2. When economic activity is reduced many workers are …. 3. The company has entered the phase of … as they are establishing new branches all over the region. 4. Consumption, business investment, and government activities constitute … … of business cycle fluctuations. 5. In the period of decline the total … of goods and services as well as the total … of the population fall.

Assignment 14. Translate into English.

1.Економічна діяльність розвивається циклами. 2. Економісти розрізняють 4 фази циклу ділової активності: бум, скорочення, спад і розширення, відомі також як економічні коливання. 3. Під час найвищого періоду економічного циклу – буму – всі економічні показники знаходяться на високому рівні. 4. Наступна фаза економічного циклу – скорочення – характеризується падінням економічних показників і зростаючим безробіттям. 5. Найнижча фаза економічного циклу – спад – означає застій (stagnation) в економіці і важке становище населення. 6. У фазі розширення економіка відроджується і такі економічні показники як зайнятість, обсяг продукції та споживання зростають. 7. Коливання циклу ділової активності залежать від факторів, що знаходяться як в економічній системі, так і за її межами.

Grammar: Expressing obligation and recommendation

Для того, щоб висловити наказ (order), необхідність (obligation) або обов’язок (duty) виконати дію, вживаються модальні дієслова must, need, have to – повинен, мушу, зобов’язаний.

Напр., All staff must/need/have to arrive for work by 9 a.m.

Оскільки модальні дієслова must та need не мають форм минулого та майбутнього, необхідність дії в минулому передається дієсловом had to – довелося, мусив, а в майбутньому will have to – доведеться. Напр., He had to /will have to define this task himself.

Для того, щоб висловити заборону (prohibition) виконувати дію вживаються заперечні форми must not, may not, cannot – не можна, заборонено.

Напр., You must not/ may not/ cannot break the company rules.

Для висловлення заборони в минулому вживаються could not або was/were not allowed to – не дозволялося.

Напр., In my last job I couldn’t/wasn’t allowed to discuss management decisions.

Assignment 15. Give all possible variants of expressing a) strong obligation, b) prohibition to do the following as in the model:

Model: give instructions.

Obligation: You must give instructions. You need give instructions. You have to give instructions.

Prohibition: You must not give instructions. You may not give instructions. You cannot give instructions.

Leave now; write this information down; use the dictionary at the exam; hire additional workers; support them with financial resources.

Assignment 16. Refer the following sentences a) to the past, b) to the future.

1. She must spend more time on introducing innovations. 2. They must review this plan. 3. They must improve the situation. 4. I must take some corrective action. 5. They must not work with this equipment. 6. We may not change the programme. 7. They must provide the consumers with high quality services. 8. The staff cannot use phones to make personal calls.

* За відсутністю потреби чи необхідності виконувати дію (absence of obligation) вживаються заперечні форми needn’t або do not/does not have to, didn’t have to, won’t have to – не потрібно, немає необхідності, необов’язково.

Напр., She needn’t/doesn’t have to write this report today – she can do this on Monday.

He didn’t have to meet me at the station – I knew my way.

She won’t have to write to them, I’ll do this myself.

Assignment 17. Make up sentences to express a) absence of obligation, b) prohibition. Translate your sentences.

Check documents; lay off the employees; work overtime; give them instructions; change the procedure; discuss this problem with your colleagues.

Assignment 18. Translate into English.

1. Обладнання повинно функціонувати з максимальною продуктивністю. Вам не потрібно згортати діяльність вашої філії – наші конкуренти покинули місцевий ринок 3. Їм не дозволяли користуватись цією програмою. 4. Йому доведеться їхати у відрядження (go on business) наступного тижня. 5. Немає потреби виконувати це сьогодні, вона може зробити це завтра. 6. Він повинен наймати на роботу лише кваліфікованих робітників. 7. Працівникам не дозволяється запізнюватись на роботу. 8. Мені довелось переробити план. 9. Я мушу зробити це зараз? – 1) Так, звіт повинен бути готовий до 4 години. 2) Ні, немає потреби. Ви можете зробити це пізніше.

* Для того, щоб висловити пораду (advice), рекомендацію (recommendation) чи інструкцію (instruction) вживаються модальні дієслова should або ought to – слід, краще, варто.

Напр., You should/ ought to know this.

Докір (reproach) щодо невиконаної дії передається перфектною формою інфінітива (have +III форма дієслова). Порівняйте:

You should do it. – Вам слід це зробити.

You should have done it. – Вам слід було це зробити (але ви не зробили).

Докір щодо дії виконаної, але небажаної (такої, яку не слід було робити) передається заперечною формою модального дієслова should not або ought not to + перфектна форма інфінітива.

You should not have done it. – Вам не слід було це робити (але ви зробили).

Assignment 19. Match each sentence 1-12 with the idea it expresses a)-l).

1. I can do it.	a) It’s necessary.
2. I mustn’t do it.	b) It’s not necessary.
3. I don’t have to do it.	c) It’s allowed.
4. I have to do it.	d) It’s not allowed.
5. I couldn’t do it.	e) It was necessary.
6. I didn’t have to do it.	f) It wasn’t necessary.
7. I had to do it.	g) It was allowed.
8. I could do it.	h) It wasn’t allowed.
9. I should have done it.	i) Doing it is a good idea.
10. I shouldn’t have done it.	j) Doing it is a bad idea.
11. I shouldn’t do it.	k) Doing it was a bad idea.
12. I should do it.	l) Not doing it was a bad idea.

Assignment 20. Read the situation and use the words in brackets to write your advice, recommendation, instruction or reproach with should/shouldn’t + proper form of infinitive.

1. It’s time for the meeting to start, but the conference hall is still empty. The staff didn’t know about it. – They /announce/ about the meeting in advance.

2. Our product is selling badly. – We /take/ some corrective action to improve the situation.

3. Anna is busy correcting her report. – Anna /allow/ more time to check all the figures.

4. Your friend looks very tired because he stays late hours at his work. – You make a reproach to him: You /organize/ your time properly. You /stay/ at work late hours.

5. The results are worse than they were expected to be. – The management /support/ the organization with proper financial resources.

6. The economic situation is worsening. – The government /do/ something about the economy.

7. Your friend is looking for a job. There is a job advertisement in the local paper. – She /apply/ for this job – it seems interesting.

8. A famous professor is giving a lecture on contemporary economic situation on Wednesday. – You tell your colleagues: Everybody /attend/ the lecture on Wednesday.

Дата добавления: 2014-11-29