as slide week 5

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Slide 1

DIVISION OF COUNTRY STUDIESENGLISH DEPARTMENT

Khoa Anh - Tt Nc Hc

English Department

University of Languages and International Studies - VNU

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

An Introduction to American Studies

for 3rdyear students of English

Country Studies Division

by Dang Ngoc Sinh

Slide 2

Dang Ngoc Sinh

WEEK 4


Khoa Anh - Tt Nc Hc

U.S. Economy

Slide 3

Dang Ngoc Sinh


Khoa Anh - Tt Nc Hc

1. Free enterprise: Theoreticalhistorical backgrou

andnd

2. Worlds leading producer

3. Budget deficit

4. Trade deficit

5. The Characteristics of American5. The Characteristics of American

businessbusiness

Two Kinds of American BusinessHeroes

Outline

1. Free enterprise: Theoretical and

historical background


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Slide 4

Dang Ngoc Sinh


Khoa Anh - Tt Nc Hc

1. Free enterprise: Theoretical and historicalbackground

Adam Smith & U.S. Economy

Mercantilism Protectionism

Adam Smith

Free trade the invisible hand

laissez faire

Slide 5

Dang Ngoc Sinh

laissezfaire

leave it alone:individuals,motivated byself interest,are allowedto pursueprofit freely,the result isgood for allof society

1. US Economy

The government:American economy:

a free enterprisesystem, whichallows privatebusiness thefreedom tooperate for profitwith minimumgovernmentinterference andregulation

Slide 6

Dang Ngoc Sinh


Khoa Anh - Tt Nc Hc

- In 19th Century: minimum governmentintervention

- From 1930s, government regulationexists in many areas of business

- Generally, the idea of free privateenterprise is strongly supported

1. US economy

The role of the Government:


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Slide 7

Dang Ngoc Sinh

Distribution of family income

Median family income, at least measured bystandard statistics, was about the same in1995 as it was in 1973 Kruman (1996)

So the U.S. economy does not grow?

Yes, but the matter is: the rich have

become a great deal richer, while the poorhave become significantly poorer Kruman (1996)

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Dang Ngoc Sinh

The world's most powerful economy

Slide 9

Dang Ngoc Sinh

US Favorable Conditions

Natural resources

Labor

Manufacturing and investment


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Slide 10

Dang Ngoc Sinh

Natural Resources

Rich in mineral resources andfertile farm soil.

A moderate climate.

Extensive coastlines on both theAtlantic and Pacific Oceans, aswell as on the Gulf of Mexico.

Rivers flow from far within thecontinent, and the Great Lakesprovide additional shipping access.

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Dang Ngoc Sinh

Labor

The promise of high wages bringsmany highly skilled workers fromaround the world to the UnitedStates.

The number of available workersand, more importantly, theirproductivity help determine thehealth of an economy.

Slide 12

Dang Ngoc Sinh

Manufacturing and investment

The corporation has emerged asan association of owners, knownas stockholders, who form abusiness enterprise governed by acomplex set of rules and customs.

American investors andcorporations have influence allover the world.


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Slide 13

Dang Ngoc Sinh

1. Free enterprise: Theoretical andhistorical background


3. Budget deficit

4. Trade deficit


businessbusiness



Slide 14

Dang Ngoc Sinh

Productivity

High industrial and technologicalproduction

Since 1971: a trade imbalance

a shift in production of goods to thedelivery of services

U.S agriculture

Challenges for the US agriculture

Slide 15

Dang Ngoc Sinh

Main industries:

Petroleum, Steel, Motor vehicles,Aerospace, Telecommunications,

Chemicals, Electronics, Foodprocessing, Consumer goods,

Lumber, Mining


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Dang Ngoc Sinh

Worlds leading producer of goods andservices

Worlds leading industrial andtechnological products such as

Aluminum, Copper and Sulphur

Farming is highly merchandized and

commercialized => produce 15% ofthe worlds food needs.

Slide 17

Dang Ngoc Sinh

Major products are machinery,automotive products, aircraft andchemicals.

Since 1971, the US has imported morethan exported

There is a shift in production frommanufacturing to services

Slide 18

Dang Ngoc Sinh

US Economic Sectors


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Dang Ngoc Sinh

Changes in the Economic Sectors

Slide 20

Dang Ngoc Sinh



3. Budget deficit

4. Trade deficit


businessbusiness


3. Budget deficit

Slide 21

Dang Ngoc Sinh

What is budget deficit?

Does it matter?

The government spend moremoney than it takes in.

Become a debtor

Affect national savings.


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Slide 22

Dang Ngoc Sinh



3. Budget deficit

4. Trade deficit4. Trade deficit


businessbusiness Two Kinds of American Business

Heroes

Slide 23

Dang Ngoc Sinh


Khoa Anh - Tt Nc Hc

What is trade deficit?

Does it matter?

Solutions?

The imbalance between exports andimports (payment for manufacturedgoods is much more than gaining fromexports of manifactured goods).

Job loss? Debt?

Slide 24

Dang Ngoc Sinh


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Slide 25

Dang Ngoc Sinh

US Import Export balance

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Dang Ngoc Sinh



3. Budget deficit

4. Trade deficit

5. The Characteristics of AmericaThe Characteristics of America

sinesssinessn5. n

bubu



businessbusiness

Slide 27

Dang Ngoc Sinh


Khoa Anh - Tt Nc Hc

The Characteristics of American businessThe Characteristics of American business

-American Business means privateand profit

-Businesses are directly or indirectlyowned and operated by privateindividuals in order to make a profit


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Slide 28

Dang Ngoc Sinh


Khoa Anh - Tt Nc Hc

Two Kinds of American Business Heroes

- are those who built up great

industries: steel, railroads, oil

refining, etc.

- They start with almost nothing andend up with virtually everything

- They are everyones perfect heroesas they reflect the American dream inits purest meaning

Entrepreneurs

Slide 29

Dang Ngoc Sinh

Organization man/woman

They run the businesses that arealready established by others

With have power and wealth, theyare also models of success in US

But they do not have a strong heroimage as entrepreneurs.

Slide 30

Dang Ngoc Sinh

Why are Entrepreneurs andOrganization men/women

American business heroes?

They reflect traditional Americanvalues:Competition, hardwork, individual freedom,

self reliance, equality of opportunity, andwealth materials.

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