Дидактичні матеріали до спецкурсу «Країнознавство США». Плани-конспекти уроків
Lecture and practical training «Economical peculiarities of the USA»
Aims and objectives:
- to introduce and practice the vocabulary;
- to develop interactive skills based on the country study;
- to widen the students' outlook.
Greeting. Introducing the topic
T. Good morning! Today we’re going to work on the topic «Economical peculiarities of the USA».
Task 1. Answer the questions.
1. What can you say about the economical peculiarities of the USA?
2. Why is it considered as the most powerful country in the world?
3. What the main branches of industry can you name?
4. What stages of economical development of the USA can you name?
5. How is used the natural resources in the USA?
II. THE MAIN PART
Task 2. Match the phrases.
1) manufacturing productivity
a) рівень інфляції
2) international trade
b) економічна стратегія
3) inflation rate
c) міжнародна торгівля
4) economic strategy
d) виробничі відносини
5) industrial relations
6) mechanical engineering
f) продуктивність праці
Task 3. Read the text and do the activity which follows it.
The economy of the United States is the world’s largest national economy. Its nominal GDP was estimated to be nearly $14.7 trillion in 2010, approximately a quarter of nominal global GDP. Its GDP at purchasing power parity was also the largest in the world, approximately a fifth of global GDP at purchasing power parity. The US economy also maintains a very high level of output per capita. In 2009, it was estimated to have a per capita GDP (PPP) of $46,381, the 6th highest in the world.
Historically, the US economy has maintained a stable overall GDP growth rate, a low unemployment rate, and high levels of research and capital investment funded by both national and, because of decreasing saving rates, increasingly by foreign investors. It has been the world’s largest national economy since 1890 and remains the world’s largest manufacturer, representing 19 % of the world’s manufacturing output. In 2009, consumer spending, coupled with government health care spending constituted 70 % of the American economy. About 30 % of the entire world’s millionaire population reside in the United States (in 2009). Furthermore, 40 % of the world’s billionaires are American. The US is also home to the world’s largest stock exchange, the New York Stock Exchange. It also boasts the world’s largest gold reserves and the world’s largest gold depository, the New York Federal Reserve Bank. The United States is also home to 139 of the world’s 500 largest companies, which is almost twice that of any other country. A large contributor to the country’s success has also been a very strong and stable currency. The US dollar holds about 60 % of world reserves, as compared to its top competitor, the euro, which controls about 24 %.
Task 4. Decide whether the following statements are True or False.
1. The economy of the United States is the world’s largest national economy.
2. Historically, the US economy has maintained an unstable overall GDP growth rate.
3. The USA has been the world’s largest national economy since 1890 and remains the world’s largest manufacturer.
4. In 2009, consumer spending, coupled with government health care spending constituted 30 % of the American economy.
5. The United States is also home to 139 of the world’s 500 largest companies, which is almost twice that of any other country.
Task 5. Complete the text with the words from the box.
Heavily invested, investor, accounts, investment, rate, absorbed, liabilities, immigrants, baby boomers
Since the 1960s, the United States economy ... savings from the rest of the world. The phenomenon is subject to discussion among economists. The US is by far the most ... into country in the world, with foreign investments made in the US measuring almost $2.4 trillion, which is more than twice that of any other country. The US is also by far the largest ... in the world, with US investments in foreign countries totaling over $3.3 trillion, which is almost twice that of any other country.
Like other developed countries, the United States faces retiring ... who have already begun withdrawing from their Social Security ... ; however, the American population is young and growing when compared to Europe or Japan. The United States public debt is in excess of $13 trillion and continues to grow at a ... of about $5.48 billion each day by direct calculation between Jan 31,2010 and August 31, 2010. Total public and private debt was $50.2 trillion at the end of the first quarter of 2010, or 3.5 times GDP. Domestic financial assets totaled $131 trillion and domestic financial ... totaled $106 trillion. Due in part to the amount of both public and private ... , the economy of the United States is regarded as a type of mixed economy.
The American labor market has attracted ... from all over the world and in 2009 ranked 16th in terms of net migration rate. The United States is ranked fourth, down from first in 2008-2009 due to the economic crisis, in the Global Competitiveness Report. The country is one of the world’s largest and most influential financial markets, home to major stock and commodities exchanges.
Task 6. Complete the sentences.
1. Since the 1960s, the United States economy absorbed ... .
2. The United States is also home to ... .
3. The US dollar holds about ... .
4. The American labor market has attracted ... .
5. The United States public debt is ... .
III. SUMMING UP
Task 7. Answer the questions.
1. What are the similarities and differences in economics of the USA and Ukraine?
2. How can you describe the development of economy in the USA?
3. Why is this country so successful in economy?
Compare economical peculiarities of the USA and Ukraine. What advantages and disadvantages can you name? (Use Internet’s sites: en.wikipedia; www. wiki. com)
Additional material to the topic
«Economical peculiarities of the USA»
Task 8. Read the text and answer the following questions.
The USA is a highly developed industrial country. Its economy is based on free enterprise system. The nation’s gross domestic product (GDP) is about $6 trillion.
The US has highly developed transport system: 6,200,000 km of streets and roads, 240,000 km of railroad lines. Airlines have 18 % of all passenger traffic and 1 % of the freight. 15 % of the freight traffic travels on waterway. The US has 75 automobiles for every 100 people.
US export includes aircraft, computers, plastic materials, metals and paper, corn and wheat. The leading imports are automobiles, clothing, shoes, toys, petroleum, iron, steel, paper, and medicines. Canada and Japan are the country’s chief trading partners. In 1993, Mexico, Canada and the US signed the North American Free Trade Agreement.
The US economy has faced problems from time to time. The problems include recession, depression and inflation.
The American economy had to be built from the ground up. What was achieved is amazing. By 1900, the US has become the greatest industrial nation, and its citizens enjoyed the highest standard of living in the world. By the post-war era, the US was producing 50 % of the «gross world product».
Today, the American economy no longer dominates the world as it did then. But with 5 % of the world’s population and 6 % of its land area, the US still produces 25 % of the world’s industrial products, agricultural goods, and services. America has not dropped behind other nations: its gross national product (GNP) has tripled since the end of the WWII.
America remains the world leader in a great many. Among these are biochemical and genetic engineering, aerospace research, computer and information services. America’s private industries are doing quite well. American firms which sell passenger aircraft or computers retain the largest share of the world market. The best selling car in the world is a Ford (the Escort).
Foreign investments in the US amounted to $164 billion.
The US is also the world’s leading agricultural nation. It grows 20 % of all the world’s wheat, oats and sorghum. America not only feeds her own people but a great many other people in the world as well. The US is a world leader in agricultural production. About a third of the world’s food exports come from US farms. Beef cattle ranks as the most valuable product. There are 2,100,000 farms in the US.
Many reasons have been offered to explain why the US has been able to go from a small economy to the leading industrial nation. One reason is the size and the natural resources. The spirit of enterprise and initiative has certainly played an important role. The America system of government, too, has encouraged citizens to pursue their own economic interest. Typically American constant willingness to experiment and social and geographical mobility have also played a part. Many Americans prefer to be their own bosses. 10 million Americans own their own business, and 42 million own a part of business through stock.
1. What is American economy based on?
2. What is its gross domestic product now?
3. What can you tell about the US transport system?
4. What does US export?
5. What problems has the US economy faced from time to time?
6. What success had the US achieved by 1900?
7. What branches does America remain the world leader in?
8. Is the USA a world leader in agricultural production as well?
9. What are the main reasons explaining why the US has been able to go from a small economy to the leading industrial nation?
Task 9. Translate the following word-combinations.
National economy, free enterprise system, transport system, railroad lines, passenger traffic and freight, corn and wheat, chief trading partners, recession and inflation, from the ground up, the efforts of private business, the highest standard of living, to dominate the world,to retain the largest share, world’s leading producer, goods and services, gross world product, natural resources, most valuable product, spirit of enterprise, willingness to experiment, through stock.
Task 10. Read the text below. Choose from (A-H) the one which best fits each space (1-6). There are two choices you do not need to use.
CURRENCY AND CENTRAL BANK
The United States dollar is the unit of currency of the United States. The US dollar is the currency most used in international transactions. Several countries use it (1) ... as their official currency, and in many others it is the de facto currency.
The federal government attempts to use both monetary policy (control of the money supply through mechanisms such as changes in interest rates) and fiscal policy (taxes and spending) (2) ... , high economic growth, and low unemployment. A private central bank, known as the Federal Reserve, (3) ... to supposedly provide a stable currency and monetary policy. The US dollar has been regarded as (4) ... and many nations back their own currency with US dollar reserves.
The US dollar has maintained its position (5) ... , although it is gradually being challenged in that role. Almost two-thirds of currency reserves held around the world are held in US dollars, compared to around 25 % for the next most popular currency, the Euro. Rising US national debt and quantitative easing has caused some (6) ... as the world’s reserve currency, however these predictions have not come to fruition.
A was formed in 1913
B as their official currency
C one of the more stable currencies in the world
D to predict that the US Dollar will lose its status
E to maintain low inflation
F as the world’s primary reserve currency
G has certainly played an important role
H a world leader in agricultural production