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HW check: Economics vs. economy RB p 14, VI: Fill in the blanks 1, 2, 4, 6, 16, 18, 19 (1), 23, 21 – economic3, 7, 10, 12, 15, 19 (2) – economy5, 9, 11, 24 – economical8, 13, 20, 25 – economics17, 26 – economist(s)22, 27 – economiseVII Sort out the words- theoretical, Keynesian, classical, applied economics- international, booming, healthy, black, fragile, global

economySENTENCES?

Briefly discuss in pairs• Do you think everybody should have some

knowledge of economics? Why?• In what way do you think knowledge of

economics can help people in their lives?- (make a list)

-

- ...

• What is the difference between economics and business?

• What do economists do?- (make a list)

-

- ...

Why economics? RB, p 16-19

II Before reading Why Economics match the words/phrases to the explanations.

III Skim the text and decide which paragraphs should be given the following headings. Each heading reflects the main idea presented in the paragraph.

IV Start reading the text, check your predictions and write the headings on the blank lines. Then, choose the correct bold-typed words.

HW: FINISH task IV at home + all tasks on p 19

Why economics? RB, p 16-19HW check: IV Headings and correct bold-typed words:

1 ____________________

2 ____________________

economic - economics - economics

3 ____________________

scarce

4 _____________________

economy – economic – economize – economics

5 _______________________

economics

6 ______________________ 7 __________________

economy – economy

8 __________________________ 9 __________________

economics

Informed voting – civic duty

Impact on personal life

Chief interest of economics

Scarcity of resources

/skeәs/ /ska:s/

Careful allocation of resources

Research topics in economics Scientific tools and methods

economic - economicDiscovering an objective reality? Obstacle: clinging to...

/skeәsәti/

Word partnerships used in the text:

Which word partnerships were used in the text? Try adding words to recreate them (noun / adjective + noun):

foreign t_ _ _e scarce r _ _ _ _ _c_ _

income d _ _ tr _ _ _ _ _ _ _ common s_ _s _

government b _ _ _ _ _ wage d_ ff _ _ _ _ _ _ _ _

economic f _ _ _ _ _ a square m_ _l

nest e _ _ scientific t_ _ _h

economic gr_ _ _ _ higher-paying o_c _ _ _ _ _ _ _ _

middle c _ _ s _

Other useful phrases (with verbs and prepositions)

• make decisions _ _ the government budget• master the b_s _ _ _ of economics • economic forces a _ _ _ct wages• economics c_ v_ _ _ many topics• allocate r_ _ _ _ _ _ _ _• economize _ _ consumption• affect economic g_ _ _ _h• issue v_l_ _ _ _ of data• collect data _ _ wages• employ statistical t_ _ _ _ _qu _ _• rely _ _ experiments to explain

Reading techniques

Skimming and scanning• Skimming – getting the rough idea

(headline, subtitles, visuals → form an idea about the text)

• Scanning – looking for specific information: (e.g. key words/key sentences i.e. topic sentences – RB p 77)

A scanning exerciseRB, p 74 Scan the job ad and identify:

1 address to which applications should be sent

2 language requirements

3 deadline for applying

4 info on salary and benefits offered

5 is a PH.D. required

Why is this job ad here?

One specific reason. Can you identify it?

... ability to draft well-structured notes within strict deadlines.

Is this requirement surprising?

Why are notes taken? (RB, p 75)

• Information important for making business decisions

• We are swamped with information

• Notes save time

When are notes taken?

What is note making?• Preparing the notes for somebody else.

• Consider the purpose, priorities, show clear structure.

Which of the three would you prefer learning from?(1)

Extrasensory perception includes means of perceiving without use of sense organs. Here we speak about telepathy, that is, sending messages, clairvoyance, which is about forecasting the future, and psychokinesis, which is about perceiving events external to situation.

Which of the three would you prefer learning from?(2)

EXTRASENSORY PERCEPTION

definition: means of perceiving without use of sense organs

3 kinds: a) telepathy: sending messages b) clairvoyance: forecasting the

futurec) psychokinesis:perceiving events

external to situation

Which of the three would you prefer learning from?(3)

Example of a mind map (4)

Main Concept

Idea

Idea

Idea

Idea

Details

Details Details

Details

Charting method (5)

Period Important people Events Significance

1941-45 F.D.Roosevelt WWII USA involvement

... ... ... ...

TAKING NOTES WHILE READING (RB, 75-76)Five-step procedure:

• SKIM to get the rough idea of the content (title, introductory paragraph, pictures?)

• SCAN to spot the essential: underline the main points (key words, topic sentences)

• GIVE HEADINGS (identify main idea of each pg)

• GROUP PARAGRAPHS (how many parts of the text? headings, subheadings?)

• READ TO ESTABLISH LOGICAL RELATIONS between parts of the text ↓

STRUCTURE!(Logical relations are expressed by signalling devices)

RB, p 76

Example text – identifiying the structure using signalling devices

Free trade is a policy in international markets in which governments do not restrict imports or exports...

There are many arguments for allowing free trade among nations. Firstly, it allows specialization and it will lead to greater productivity. Secondly, it provides greater choice, better quality and lower prices ...

However, arguments against free trade should also be considered. There is the infant industry argument which... For instance, a newly founded industry...

In conclusion, it is clear that free trade ...

Example structure:

Free trade (pg 1)

Arguments pro (pg 2) vs. Arguments con (pg 3)

1specialization 1 infant industry

2 + effects of e.g. ...

competition 2 ...

3 ... 3 ...

Conclusion (pg 4)

Back to making notes!

Benefit from work already done TACKLE EACH PARAGRAPH SEPARATELY:

1 NUMBER the paragraphs

2 SCAN each paragraph and underline the essential, key sentence(s), words & phrases

3 GIVE A HEADING to each paragraph(Why is it here? What is unique about it?

What does it contain that cannot be found in the rest of the text?) BEEN THERE – DONE THAT

3a Identify the subheadings in pg 7

Piece of cake!

→ Making notes on WHY ECONOMICS?

HEADINGSInformed voting – civic dutyImpact on personal lifeChief interest of economicsScarcity of resourcesCareful allocation of resourcesResearch topics in economicsScientific tools and methodsDiscovering an objective reality?Obstacle: clinging to familiar theoretical conceptions

SUBHEADINGSObservation Economic analysisStatistical analysis Experiments

TEAMWORK: Use the layout given on the handout.Expand the notes by adding necessary details and examples. (see the next slide for guidance)

Why economics? (SPACE IT OUT!)

1 informed voting (civic duty)

2 impact on personal life (quality)

Chief interest of economics

Scarcity of resources → Careful allocation of r.

Scientific tools and methods

... → handout

e.g.

Why economics?

1 Informed voting – civic duty- govt. budget- legislation- tax and foreign trade policies

2 Impact on personal life- choosing occupation (impact on

earnings)- ... pls. continue

THREE SECTORS OF THE ECONOMY

RB, pp 20 - 29

MK U 7

THINK OF JOBS WHICH DEAL WITH…

• EX_ _ _ _ _ ING…• HAR _ _ _ _ _ _G… • OR GA _ _ _ _ _ _ _…

…RAW MATERIALS FROM THE EARTH

THE PRIMARY SECTOR

Match with pictures: forestry, mining, fishing, quarrying, agriculture, oil drilling

T R A CTV E ST I N

T H E R I NG

THINK OF JOBS WHICH DEAL WITH…

• EXTRACTING…• HARVESTING… • OR GATHERING …

…RAW MATERIALS FROM THE EARTH

THE PRIMARY SECTOR

mining agriculture fishing quarrying forestry oil drilling

WHAT DO THESE INDUSTRIES HAVE IN COMMON?

metal working and smelting,automobile production, textile production,

chemical and engineering industries,aerospace manufacturing, energy utilities,

engineering, breweries and bottlers,construction, shipbuilding

SECONDARY SECTOR

THE SECONDARY SECTOR

1. SMELT

2. WELD

3. PROCESS

4. BREW Which nouns can follow?

5. ASSEMBLE e.g. to smelt ore

6. CONSTRUCT to weld metal

7. MANUFACTURE

8. PRODUCE …

WHICH OF THESE SERVICES ARE IMPORTANT FOR YOUR LIFE?

INSURANCEGOVERNMENTBANKSRETAILINGEDUCATIONHOSPITALITY INDUSTRYTRADE

NEWS & MEDIACONSULTINGLEGAL PRACTICEREAL ESTATEHEALTHCARETRANSPORTADVERTISINGICT

TERTIARY (SERVICE) SECTOR/ tɜ:rʃəri or tɜ:rʃiəri /

The tertiary sector evolves... INSURANCE

GOVERNMENTBANKSRETAILINGHIGHER EDUCATIONHOSPITALITY

INDUSTRYTRADECULTURE

NEWS & MEDIACONSULTINGLEGAL PRACTICEREAL ESTATEHEALTHCARETRANSPORTADVERTISINGICTR&D

QUATERNARY SECTOR: Information and knowledge-based services

Three sectors of the economy

Read the text in RB, p 20: I

HW: pp 20, 21 & 22

FINISH THE SENTENCE…

• Primary sector involves...extracting raw…materials and natural resources from…the earth.

• Secondary sector includes manufacturing, processing and construction which transform raw…materials into…goods.

• Tertiary sector involves the provision of…services.

• Quaternary sector is an extension of ... the tertiary sector. It provides information and... knowledge-based services.

WHICH SECTOR DO THEY WORK IN?

• FARMER • LAWYER• BLUE-COLLAR

WORKER• NURSE• WAITRESS• BUSINESS

CONSULTANT

• CONSTRUCTION WORKER

• SHIP BUILDER• HAIRDRESSER• MINER• LUMBERJACK• ACTOR• SOFTWARE DEVELOPER

2. Which sector do you intend to work in?

HOW MUCH DO YOU KNOW ABOUT…?

• manufacturing (production of consumer goods) today

• its historic and geographical features

• outsourcing & labour costs

• job security nowadays

HW: Go to p 24 in RB to find out more.Read: Where did all the jobs go? • Read the topic sentences• Read the topic and the last sentences• Read the whole text pg. by pg.While reading do the vocabulary task.Complete the notes on p 25.

HW (Week 2 - a summary):

Why Economics?

• RB pp 17-19

Three Sectors of the Economy

• Tasks on pp: 20, 21 & 22 in RB

• Read the text on p 24, do voc. exercises and complete the notes on p 25 in RB