UIPA

Université Internationale Privée d’Abidjan

ENGLISH FOR ECONOMICS MASTER 2

STUDENT’S BOOK

Dr. KIROUA Julien

[email protected]
0748641575
Course objectives and student expectations

The objective of this course is to

 Equip students with economics vocabulary
 Develop their writing skills
 Develop their speaking competences
 Develop their reading and listening skills

Learning activities :
 Telephones must be switched off.
 Students must be on time o Lateness must be avoided
 Questions and discussions are welcome o Students will have some exercises to do in
class
 TEXT 1/ UNIT 1
ECONOMIC MOTIVE

In general we may say that the primary economic motive of

industrials and business firm is to maximize their profits or to
minimize their losses. Or we may say it is the attempt to obtain the
greatest possible profit at the least possible cost. For business firm the
profit or the gains consist mainly in net income for the individual the
gains consists in the satisfaction of wants.

Even if all individuals attempted to maximize their economic

gains we would not expect them all to act in the same way. Some
individuals will prefer more leisure to the greater amount of goods and
other will be willing to work longer to obtain more goods. Differences
in temperament will also affect other aspects of economic conduct.
Thus, daring people may be willing to assume great risks when there is
a chance of large gains. Others will prefer security and will be content
with small gains if there appears to be little risks of loss.

We should expect more uniformity in business decision than in

the economic actions of individual consumers. Among businessmen,
however, there are both daring and cautious individuals just as in other
occupations. Even though businessmen may be guided by similar
motives, their decision will be different as they place different
interpretations upon facts. A fall in the price of a raw material, for
instance, may cause some businessmen to buy great stock of it. Others
may interpret the fall in price as a sign of a further decline and so may
decrease their purchases rather than increase them. These
circumstances are the reason why business planning in advance is so
difficult. Not only do we have to know the facts, we have also to
estimate how the majority of businessmen will react to them

EXERCISES

A. Translate the first paragraph into French!

B. Answer the following questions, basing your answer on the text!

1. What does a person have in mind if he wants ‘to maximize his gains’ or ‘to minimize his
losses’? (Use the term ‘greatest possible’ and ‘less possible’)
2. Why should we not expect all individuals to act in the same way in maximizing their
economics gains?
3. In what way do daring people differ from cautious people in economic conduct?
4. Do business decisions differ from individual economic actions?
5. Fill in the blanks: “If a certain raw material decreases in price, some businessmen may
…………… in order to make a profit. Other businessmen may ……….… because they think
prices may fall still further.
 C. Say whether the following statements are true (T) or false (F). If they are false,
say why!

1. An individual attempts to obtain the greatest satisfaction from the last dollar spent on each
article. (………)
2. A businessman wants to make the greatest possible gain because he is mainly thinking of
his financial profits. (………)
3. People never take great risks in order to make a large gain.
(………)
4. All decision of business people show uniformity and are of the same pattern. (………)
5. If we want to predict business events, we have to know the facts, and people’s reactions to
them. (………)

D. Find the words in the text for which the following pronouns are
substitutes!

1. Their (line 2) = industrials and business firm

2. Them (line 8) = individuals
3. It (line 21) = raw material
4. Their (line 4) =
5. Their (line 19) = businessmen
6. Them (line 24) = purchase
7. Their (line 7) = individuals
8. Their (line 19) = businessmen
9. Them (line 26) = facts

E. Find single words in the text for which the following word could be substituted:

1. Aims (line 1) 13. Safety (line 13)

2. Fundamental (line 1) 14. Sameness
3. Gains (line 2) 15. Private (line 16)
4. Principally (line 5) 16. Prudent (line 17)
5. Tried (line 7) 17. Professions (line 18)
6. Behave (line 8) 18. Explanations (line 19-20)
7. Manner (line 8) 19. Drop (line 20)
8. To secure (line 10) 20. Purchase (line 21)
9. Nature (line 10) 21. Indication
10. Influence (line 11) 22. Reduce
11. Bold (line 11) 23. Situation
12. Take on (line 12) 24. Calculate (line 25)

F. Give suitable opposites for the words in bold letters in these sentences. Choose the
appropriate word from the list!

Primitive a very large part retreat unusual

Acquired the same necessary vast
United intricate supplied with increases

1. If supply decreases, price will rise.

 2. The pattern of inflation in the advanced societies of the western countries has caused
disturbances.

3. A special department in ‘SARINAH’ sells jeans in different size and colors.

4. A tiny portion of the profit will go to the providers of the starting capital.

5. We have wasted a good deal of time and effort doing superfluous things.

6. The Indonesian peasant will not advance much without the use of good tools.

7. These words have acquired a common meaning in our every day speech.

8. He has deprived me of my belongings.

9. The man thinking sadly of all material things he had lost in life.

10. The two friends have been separated since the end of World War II.

11. For a great many people life in Jakarta used to be simple and quiet.

12. The school was provided with a very small playground.

G. Arrange the following sentences in their proper sequences in order to obtain a

paragraph on ‘Economic Motives’

1. Acting on this principle he will not buy more of one commodity when a purchase of
some other commodity would satisfy a want that is more intense.

2. Or if the gain offered by interest appears to be greater than the discomfort of

postponing consumption, he will save and lend at interest.

3. i.e. He attempts to obtain and equal amount of satisfaction from the last dollar spent on
each article.

4. An individual who is attempting to maximize his economic gains will try dividing the
expenditure of his income in such a way that the goods and services he receives will
give him the greatest amount of satisfaction.

5. If he foresees that his wants may be greater in the future, he may save some of his
income rather than spend it all now.
H. Fill up the blanks with a word or words opposite in the meaning to the word(s) given
in brackets at the end of each sentence. These words are all taken from the text. Choose
the appropriate word(s) from the list below.

To be unfamiliar with in particular:

Bold Dissimilar Collective

Dissatisfaction Rise To get rid of
Similarities Reluctant Diversity
Dissatisfaction Frightened

1. I am addressing the providers of the initial capital …………… (in general; line 1)
2. I am anxious …………… these commodities (to obtain; line 3)
3. He expressed …………… with the work of the new apprentice. (satisfaction; line 6)
4. Watching the twins I could notice some …………… in the way they talked and smiled.
(differences; line 10)
5. He had a …………… look in his eyes. (daring; line 11)
6. He was ……………. to undertake such a risky business. (willing; line 12)
7. There is so much …………… in the things he does that he has no reason to be bored in
life. (uniformity; line 15)
8. A communistic system puts the emphasis on …………… effort. (individual; line 16)
9. The student was …………… enough to express his personal opinion in front of the
teaching staff. (cautious; line 17)
10. The two sisters are …………… in character and physical appearance. (similar; line 18)
11. A shortage of oranges will cause a …………… in their price. (fail; line 22)
12. A long absence abroad has caused the manager …………… certain changes in his
enterprise. (to know; line 25)

STRUCTURE

A. Indirect Speech-Noun Clauses from Statements

Present Main Verb (No Sequence of Tenses)

He representing verb (that)
The train always arrives late
The train is arriving
The train arrived late
The train will arrive soon

Past Main Verb (Sequence of Tenses)

He said (that):
The train always arrived late
The train was arriving
The train had arrived soon
The train would arrive

That is omitted in informal usage. The present tense may be retained in a “that” clause object
expressing a generalization (he said that the train always arrives late). No comma precedes or
follows a noun clause.
B. Indirect Speech can also be formed from Positive and Negative Command.

1. Positive Command
Ex: a. Help me -------------- My father told me to help him
b. Wait for me here------------------ Mrs. Ida told her son to wait for her there
c. Be patient---------------------------- Mila told her friend to be patient

2. Negative Command
a. Don’t go anywhere before I come back home--------------- My mother told me not to
go anywhere before she came back home.
b. Don’t be angry with me------------------ My friends told me not to be angry with
them.

Change into indirect speech.

1. ‘Don’t smoke in class’

The teacher told the students................................................................

2. Help me if you are free

My friend told me ................................................................................

3. Bring me a glass of coffee

Mr. Dony told his wife.........................................................................

4. Don’t talk too much while I am teaching in class.

The teacher told his students................................................................

5. Let me help you whenever you need my help.

Rudy told his friend Shinta...................................................................

6. Don’t be late to come to my birthday party next week.

Mira told her friends.............................................................................

7. Don’t spend your money too much to buy clothes.

Mrs. Sally told her son .........................................................................

8. Go to bed after you do your home work.

Mr. Ahmed told his children ................................................................

Change into indirect speech Observe the sequence of tenses. Makes the necessary
changes in pronouns.
EXAMPLE:
 He said, “I need more time to get ready”.
 He said that he needed more time to get ready

Exercise 1

1. Shinta said, “I have already finished my work”.

_______________________________________________________
2. Andy said, “Construction on your house will begin as soon as the
lumber arrives”.
_______________________________________________________
3. The technician said, “The laboratory was repaired before 5 p.m”.
_______________________________________________________
4. The mechanic said, “Your car was painted and you could pick it up at
the garage at any time”.
_______________________________________________________
5. The lady said, “We are planning a farewell party for our two guests”.
_______________________________________________________
6. Ronny said, “I could not meet you at the airport whenever you
wished”.
_______________________________________________________
7. Our visitor said, “It rains a great deal in my country”.
_______________________________________________________

8. My father said, “The weather was so bad that I couldn’t go out at

all”.
_______________________________________________________
9. The gardener said, “The bushes should be trimmed once a month”.
_______________________________________________________
10. Sally said, “My parents’ do not live too far away for me to visit them
often”.
_______________________________________________________
11. Robby said, “I would like to see a good movie but I don’t see
anything in the paper that interests me”.

B. Indirect Speech Noun Clauses From Questions A Change to indirect speech.

Observe the sequence of tenses and make necessary changed in pronouns. Use a
period at the end of the sentence
.
EXAMPLE:
 He asked me, “Does the train always arrive late?”
 He asked me whether (or information it) the train always arrived late.

Exercise 2
1. Susy asked her friends, “Can you come to my home tonight?”
_______________________________________________________
2. My friend asked me, “Do you come from Solo or Jogja?”
_______________________________________________________
3. Someone asked me, “What is your name?”
_______________________________________________________
4. Mr. Johan asked his daughter, “What color do you want?”
_______________________________________________________
5. Husein asked his sister, “How many English books do you have?”
_______________________________________________________
6. Shinta asked her friend Ahmad, “Can you play the guitar very well?”
_______________________________________________________
53
7. Rudy asked his friends, “Have you done your assignment or not?”
_______________________________________________________
8. Somebody asked me, “Where is the post office?”
_______________________________________________________
9. Mila asked John: “Why didn’t you answer when I called you?”
_______________________________________________________
10. Mr. Hassan asked his wife: “What were you doing when I called you
last night?”
_______________________________________________________
11. Andy asked me, “How long have you been waiting for me here?”
_______________________________________________________
12. Deddy asked Sarah, “When will your father leave for Chicago?”
_______________________________________________________
13. Somebody asked me, “Can you tell me where the bus stop is?”
_______________________________________________________
14. The teacher asked his students: “Have you ever been to Singapore?”
_______________________________________________________
15. My father asked me, “Which computer do you want to buy?”
_______________________________________________________
16. Richard asked Sally, “Whom are you waiting here?”
_______________________________________________________
17. Billy asked me, “What time did you depart from the station?”
_______________________________________________________
18. Shinta asked Tony, “Whose dictionary is given me?”
_______________________________________________________
19. Muhammad asked me, “Does your sister study at UGM or ITB?”
_______________________________________________________
20. My mom asked me, “How long have you been waiting for me here?”
_______________________________________________________
21. My friend asked me, “Would you go to the movies or Concert?”
_______________________________________________________

Exercise 3: STRUCTURE (General Review)

A. Select the Correct Answer:

1. If Jane ……… a professional architect, she could design beautiful buildings.

a. is b. was c. were d. would be

2. If the customers had been satisfied, they ……… here to complain.

a. will not come c. would not came
b. were not came d. would not have come

3. If Peter ………..much money, he would have renovated his house last year.
a. had had b. had c. has d. have had

4. Professor Baker…… we picked up in Juanda Airport was the keynote speaker of the
International Seminar …….. we held in our campus last week.
a. who….whom c. whom…….which
b. whose…… that d. which… whose

5. The transfer of science and technology must …………if the nation wants to
……….
a. be encourage – develop c. be encouraged – be developed
b. encourage – developing d. have encouraged – developed

6. Industrial technology has to ….….......….. well in developing countries like

Indonesia.
a. Be implemented c. is implemented
b. implemented d. Implementing

7. All of the bad news about the new contract ………finally …………… clearly.
a. have – confirmed c. has – been confirmed
b. has – been confirming d. have – to confirm
8. In canning, heat can ……………. bacteria and halt enzymes activity in food.
a. uses to destroy c. be used to destroy
b. use to be destroying d. used to destroying

9. Not far from our campus, some new apartments ……… recently.
a. are building b. are being built c. will be built d. have built

10. The teacher ………. the students if they ……… or not before having the final
exam.
a. said – have studied c. told – would study
b. asked – had studied d. asked – were studying

11. It is essential that everybody of us ………….. our health regularly.

a. to check b. check c. is checking d. be checked

12. After the assassination attempt, President Reagan’s doctor suggested that he
……….. a short rest on Niagara.
a. take b. took c. is taking d. has taken

13. The mechanic said that my car would ………… and ……..…be picked it up at the
garage at any time.
a. repaired – should c. be repaired – could
b. repair – can d. have repaired – had

14. The teacher told the students …………… too much in the class.
a. don’t talk c. not to talk
b. are not talking d. should not talk

15. Mr. Andy asked his son why he ……………… his homework the night before.
a. did not do c. was not doing
b. does not do d. had not done
 UNIT 2: THE MEANING OF ECONOMICS
A world in which no one has to work, in which all time is leisure time, in which
scarcity is unknown and nature freely gives to man all the goods and services that he
would like to have is a beautiful dream world. But it is not the world in which we live.

Man has to work for a living. Nature supplies him with various resource with which he
can work: soil, minerals, water, air, sunlight, wild animals, and plants. But man must
use a part of his time to convert these resources into things that can satisfy his desires.
He must have food, clothing, living quarters, house furnishings, medicine, and many
other things that can make life more enjoyable.

However, although we sacrifice our leisure, we still do not produce enough to satisfy
all our wants. Millions of people have not enough food, clothing, and shelter. They are
in bad health and are always suffering from hunger. Other million have just enough to
maintain their health and strength. Even those people who have a very high standard
of living have many unsatisfied desires: they want more leisure, better clothes, bigger
house, more cars, more travel, more books, more music, more plays, and many other
things. In short, we live in a world of scarcity.

It is not only in our present society however, that there is scarcity; scarcity has always
existed, and there is no reason to believe that it will disappear in the future. The
productivity of economic system is increasing more and more, but people’s desire will
probably rise still faster, so that scarcity will persist.

EXERCISE
A. Complete the following sentence, marking the group of words which
corresponds most closely to the text!

1. A world in which no one has to work

a. Is a dream world
b. Is a world in which leisure is not known
c. Is world in which nature does not give anything to man

2. Nature supplies man

a. With manufactured goods
b. With various resources like water, air, and minerals
c. With house furnishings, medicine, and clothing

3. We do not produce enough

a. Because we have a great deal of leisure
b. Because we are never satisfied
c. Because we have too much leisure

4. Millions of people all over the world, the greater part of mankind
a. Enjoy the highest standard of life
b. Have many unsatisfied of desires
c. Do not need any more books, clothes, or motorcars

5. There is very reason to believe

a. That scarcity will disappear in the near future
b. That people’s desires will diminish
c. That scarcity will persist

B. Say whether the following statements are true (T) or false (F). If they are
false, then say why or Correct it!

1. We live in a dream world (……)

2. We all have to work for a living (……)
3. Nature converts all resources into useful things (……)
4. Because we sacrifice a great deal of our leisure time, we produce enough to
satisfy all our wants (……)
5. Nobody live below the minimum standards of health (……)
6. There will always be scarcity in all societies (……)
7. People’s desires will one day be entirely satisfied (……)

C. Answer the following questions basing your answer on the text!

1. What is the dream world the author is talking about?

2. What does nature supply man with?
3. What must man do in order to make use of these resources?
4. Why don’t we produce enough to satisfy all our wants?
5. What are the three economic classes mentioned in the text?
6. What is the reason that scarcity will always persist?

STRUCTURE 5 (Five):

A. Conditional Sentence (If Clause)

*There are three (3) types of conditional Sentence:

I. Type One (1) refers to something which is possible to happen in the future
Tense: Simple Present - Simple Future
Ex: a) If I have much money, I will buy a new car
b) If she is a popular singer, she can sing on television everyday

II. Type Two (2) refers to something that is impossible to happen at the present time.
Tense: Simple Past Tense - Past Future

Ex: a) If I had much money, I would buy a new car

b) If she were a popular singer, she could sing on television everyday

III.Type Three (3) refers to something that is impossible to happen in the past Tense:
Past Perfect - Past Future Perfect
Ex: a) If I had had much money, I would have bought a new car last month
b) If she had been a popular singer, she could have sung on television
Exercise 1 (One): Change the Following Sentences into Conditional Sentence Type I –
II – or III.

1. If she is not busy, she can help you whenever you want ....... (I) ........ (II).............
(III)
2. If the students did not study hard, they would not pass their exam .... (II) ..... (I) ..
(III)

3. You will not catch the train if you do not leave home earlier (I)...... (II) ...............
(III)

4. If she gets a good score of English, her father will give some reward .. (I) .. (II)...
(III)

5. If you do not eat too much, you will not be ill.... (I)... (II) ............ (III)

6. If I am a famous architect, I will design such beautiful buildings around the

world................ (I) .............................................. (II) ............................................ (III)

7. He could not do his work properly if he did not practice regularly ... (II) .... (I) ....
(III)

8. If he did not have any experiences, he could not finish his works perfectly.. (II) .....
(I) .... (III)

B. CONDITIONAL CLAUSES WITH UNLESS

In many sentences, unless is equivalent of If ……… not.

If you don’t get off my property, I’ll call the police; or
Unless you get off my property, I’ll call the police.

Use unless to replace if ……… not in the following sentence.

EXAMPLE: If it doesn’t stop raining soon, they’ll have to cancel the ball game.
Unless it stops raining soon, they’ll have to cancel the ball game.

Exercise 1

1. If he doesn’t study harder, he won’t pass the examination.

2. If she doesn’t learn to be more courteous, she will never have any friends.
3. If there isn’t more snow, we can’t go skiing.
4. If he doesn’t get better soon, he may have to drop out of school.
5. We will sue you if we don’t get the money by tomorrow.
6. If we don’t leave right away we’ll miss our bus.
7. I wouldn’t be bothering you now if I didn’t need help desperately.
8. If we don’t start out now, we won’t get there before dark.
9. You’ll lose the money if you don’t put it in a safe place.
10. If he can’t pay cash, they won’t sell to him.
 11. The strikers won’t go back to work if a contract isn’t signed.
12. If you don’t watch your diet, you may become sick.
13. Don’t give this package to him if he doesn’t sign a receipt for.
14. If he doesn’t get here soon, we’ll have to leave without him.

REAL CONDITIONS (1): FUTURE TIME Real conditions are conditions that are
possible to be realized. They often refer to one event in the future.

1. With future main verb-if the weather is good, I’ll go to the break.

2. With imperative main verb-if he calls, tell him to come here at once.
Usually the correct to verb forms for future conditions. Note where should may also be
used in the conditional clauses.

Exercise 2

1. If they (not get) …………… here soon, we (leave) …………………… without

them.
2. If you (need) ………………… more help, please (ask) ………………… the
janitor.
3. If you (not understand) ………… this math problem, I (explain) ………… it to
you.
4. We (take) ………………… the train if the weather (be) ………………… very bad.
5. (Telephone) …………… me at once if you (not find) ………………… the address.
6. We (not go) …………… skating if you (think) …………the ice is dangerously thin.
7. If you (come) ……………… over now, (give) …………………… you the money.
8. You (have) … enough time to buy the tickets if you (leave) …… half an hour
early.
9. If you (see) ………… Robert, (give) ………………………… him my best regards.
10. If you (not drive) …………… more carefully, you (have) …………… and
accident.
11. If a customer (want) …… to see me, (tell) ………… him I’ll be back in ten
minutes.
12. If I (go) ……… to the post office, I (get) ………………………… you some
stamps.
13. If you (eat) …………… those green apples, you (may get) ………………… sick.

UNREAL CONDITIONS: CONTRARY TO FACT (Type II)

Such conditions are either impossible to realize or are not likely to be realized in
the near future.

A. USE THE VERBS FORMS FOR PRESENT UNREAL CONDITIONS

EXAMPLE: If he (study) studied harder he (pass) would pass his examinations.

Exercise 3

1. If he (love) ………………………… her, he (not behave) ………………………… so

badly. 2. If he (attend) …………………… classes more often, he (be) ……………… a better
student.
3. I (may speak) ……………… English better if I (have) ……………………… more
practice.
4. If I (be) …………… in the library, I (look up) ………… that information in the
encyclopedia.
5. If I (have) ……………………… a lot of money, I (help) ………………………… the
poor.
6. If I (know) ……………… more Spanish, I (visit) ………………………… South America.
7. If I (have) ………………… more leisure time, I (take up) …………………………
painting.
8. She (look) ………………………… better if she (not use) ……………… so much make
up.
9. If it (not be raining) ………………………… I (go) ………………………… fishing.
10. We (can play) ………………… tennis if we (have) ………………………… some
rackets.
11. If I (earn) ………………………… enough money, I (buy) ………………………… a car.
12. If I (be) ………………… in his place, I (accept) …………… the job that was offered
him.
13. I (lend) …………………… him money if he really (need) ………………………… it.
14. If I (not be) ……………… so busy, I (go) ………………………… to the movies with
you.

B. USE THE VERBS FORMS FOR PAST UNREAL CONDITIONS FOR ALL
THE SENTENCES IN “A”

EXAMPLE: If he (study) had studied harder, he (pass) would have passed his
examinations.

REAL AND UNREAL CONDITIONS CLAUSES

Exercise 4
Complete the following sentences containing either real or unreal conditional clauses.

1. If I feel better today, ___________________________________

2. If you get sick, ________________________________________
3. If he had done what I told him, ___________________________
4. If anyone asks for me, __________________________________
5. If anyone insults me, ___________________________________
6. If we don’t understand our teacher, ________________________
7. If Johan exercised more often, ____________________________
8. If Mila had known you were coming, ______________________
9. If You had told me the truth, _____________________________
10. If we had enough time, _________________________________
11. If everybody feels this a good idea, _______________________
12. If the students don’t stop talking, _________________________
13. If we had had more money, _____________________________
14. If the world population continues to grow, _________________
15. If the fire had spread, __________________________________

Exercise 3 (Three): Select the Correct Answer:

1. If Jane had come with us, she ………….. a good time.
a. Would have b. Would have had c. Will have d. Would had

2. If two waves ………. a given point simultaneously, they would have no effect on
each other’s subsequent.
a. passed b. passes c. are passed d. had passed

3. If the customer ……………… not satisfied, he could call the manager right away.
a. Is b. was c. were d. had

4. If the waiter ……….not served the customers very well, the manager would have
discharged him.
a. Were b. was c. Did d. had

5. Peter would have gone on the trip to Las Vegas If he…………..much money.
a. Had b. has had c. Had had d. is

6. If I ………not… ……. to Jane’s wedding party, I would not come.

a. Did----- invited b. was------- inviting c. Am----- invited d. were ------ invited

7. It would be impossible to get a hotel room this weekend because of the jazz festival
if you ………… a reservation before.

a. Did not have b. are not have c. Do not have d. had not

8. Unless the students …………………. Hard, they could not do the test successfully
a. Studied c. studying b. Have studied c. were studying