Austerity protest in Spain (BBC)  Protesters are sick of the government’s 1 measures.They object to the 2 being bailed out while they struggle to make ends meet.  The govt. has announced that next year’s 3 includes 4 in public 5, cuts in 6 benefit, and a 7 on public employee salaries. 

What is the difference between...? ECONOMIC ECONOMIZE ECONOMICAL ECONOMICS ECONOMIST ECONOMY

ECONOMIZE, ECONOMICAL, ECONOMIC, ECONOMICS, ECONOMIST, ECONOMY 1.…………………………… (adj.) 1.relating to or involving economics, money, finance, 2.which produces enough profit to make it worth continuing with 2.……………………………(n.) someone who studies the way in which wealth is produced and used in an area 3.…………………………… (v.)to reduce the amount of time, money, goods etc. that you use 4.…………………………… (n.)1.the system by which a country’s goods and services are produced and used, or a country considered in this way, 2.the careful use of money, goods, time etc. so that nothing is wasted, 3.a way of spending less money 5.…………………………… (adj.)using money, time, goods etc. carefully and without wasting any 6.…………………………… (n.) the study of the way in which wealth is produced and used

1.ECONOMIC (adj.) 1.relating to or involving economics, money, finance, 2.which produces enough profit to make it worth continuing with 2.ECONOMIST (n.) someone who studies the way in which wealth is produced and used in an area 3.ECONOMIZE (v.)to reduce the amount of time, money, goods etc. that you use 4.ECONOMY (n.)1.the system by which a country’s goods and services are produced and used, or a country considered in this way, 2.the careful use of money, goods, time etc. so that nothing is wasted, 3.a way of spending less money 5.ECONOMICAL (adj.)using money, time, goods etc. carefully and without wasting any 6.ECONOMICS (n.) the study of the way in which wealth is produced and used

ECONOMIC, ECONOMIZE, ECONOMICAL, ECONOMICS, ECONOMIST, ECONOMY 1.The country is facing a severe.... crisis. 2.He expects Europe’s to grow faster. 3.This system was extremely because it ran on half-price electricity is the oldest in social sciences. 5.What has gone wrong with the system? 6.Some analysis is required here. 7.Strikes were damaging the country’s She has a degree in

RB: ex.III (p.11) 1.The country is facing a severe ECONOMIC crisis. 2.He expects Europe’s ECONOMY to grow faster. 3.This system was extremely ECONOMICAL because it ran on half-price electricity. 4.ECONOMICS is the oldest in social sciences. 5.What has gone wrong with the ECONOMIC system? 6.Some ECONOMIC analysis is required here. 7.Strikes were damaging the country’s ECONOMY. 8.She has a degree in ECONOMICS.

Group the following: IKEAtyrechocolate furnituremechanic’s wood cocoa/sugar Konzum rubber

Different sectors of the economy PRIMARY SECTORSECONDARY SECTORTERTIARY SECTOR Cocoa/SugarChocolateKonzum WoodFurnitureIKEA RubberTyreMechanic’s

Different Sectors of the Economy  Primary  Secondary  Tertiary *Quartenary sector : ICT, consultancy, R&D, education, culture, …

Words, words, words (RB: p.14)  Industry vs. Manufacturing industry  Consumer goods (1)  Gravitate (1)  Labour costs (1)  “Rust-belt” (2)  Retrain (3)  Outsourcing (3)  Counterpart (3)  A fraction of salary (3)

Words, words, words (MK: p.45) heavy industry services: accountants, lawyers, marketers, advertisers, real estate, entertainment, IT, ICT, R&D advanced countries labour costs expertise higher education strengths

Assignments: MK Decide which arguments are in favour of manufacturing and which are in favour of services. 2. Make one short sentence to summarise each argument (1-7). RB:p Read the text and answer the quest.

Revision: p.14 1.Britain led the revolution between the 1750s and mid 19th c. 2.But, today, gravitates to countries with lower costs. 3.This means that many companies have some of their activities elsewhere. 4.Some workers therefore need to or work in......, which is not safe either. 5.All this may lead to high in the developed world.

Back to reading/writing skills … PARAGRAPHING  One idea per paragraph (topic sentence/s?)  Space between paragraphs  Avoiding one-sentence paragraphs  Using connectors (linking words) within and between paragraphs if necessary

If this is applied to the text …  One idea per pg.?  General vs. specific sentences?  Topic sentence?  Connectors?

Paragraph structure Ideally …  General statement (e.g. topic sentence – first sentence?)  Supporting sentences (specific)  Concluding sentence

RB:p.66 (paragraphing)  Tourism has become one of the world’s biggest industries. It accounts for 11% of global GDP and employs around 200m people. Estimates suggest that 590 m people travel abroad every year, sometimes several times…. However, in an increasingly dangerous world, especially with an ever present threat of terrorist attack, people may not be willing to travel as much as they used to. For example, after September 11, there are fewer Americans travelling, which has been disastrous for some global tourist economies. The travel industry usually recovers very quickly, but will this always be the case in the future?

Write a paragraph on Galbraith’s text (RB: p.15) 1.Topic sentence 2.Supporting sentence 3.Concluding sentence (your opinion?)

The Three Sectors of the Economy (cont.) PARAGRAPHING (practice)  Explain in a few sentences (one paragraph) what the text is about in terms of the three economic sectors (RB: p.14). Use the following expressions: the primary sector, the secondary sector, the tertiary sector