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Unit 2 Economy

Unit 2 Economy.

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Unit 2 Economy

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  1. Unit 2 Economy “Economy” is a general term for materials relating to, or based on, the production, distribution, and consumption of goods and services, including business, industry, employment, trade, and economic sectors such as finance, service, construction, housing, manufacturing, agriculture, forestry, commercial fishing, etc.

  2. I. Warm-up activities Do you know…? • NYSE stands for a.New York Securities Estateb.National Years Stocks Exchangesc.New York Stock Exchanged.American Stock Exchange • New York's financial district is called • a.Stock Exchange Alleyb.New York Stock Exchangec.Dow Streetd.Wall Street

  3. I. Warm-up activities Do you know…? • Every stock has a a.symbolb.valuec.company behind itd.all of the above • An owner of a share of stock is • a.a studentb.a stockholderc.a stock brokerd.a businessman

  4. I. Warm-up activities Do you know…? • Commission is a.the amount that a stock increases in a day b.the total price of a stockc.a bonus you get for buying a stockd.a fee paid to a sales associate • We sometimes use the word "risk" in talking about stocks. What does that mean? • a.possibly driving too fastb.taking the chance of losing moneyc.taking the chance of buying too many stocks d.losing your wallet

  5. I. Warm-up activities Do you know…? • What are produced by companies to provide information to all shareholders and other interested parties? • a.Annual Reportsb.Assetsc.Stocksd.Dividends • Payments made to stockholders based on a certain percent of the company's profits are called a.sharesb.stocksc. ’dividendsd.stock markets

  6. I. Warm-up activities Do you know…? • A "bull market" is a market whichis a.Using bulls as its logob.Staying the samec.Droppingd.Doing well • A "bear market" is a market which is a.Risingb.Decliningc.Using bears as its logod.Staying the same

  7. Part A: Fall in the UK Share Prices

  8. II. Vocabulary preparation (Politics) hold a peace/protest rally (n.) rally /  / a notable rise in stock market prices and trading volume after a decline 跌停回升；降后复涨 股票价格在今天收市前略有回升。 Share prices had a late slight rally (n.) /had rallied (v.) by the close of trading today. rally (v.) a great deal of support for their presidential campaign index /  / a system by which prices, costs, etc. can be compared to those of a previous date 指数 a price index 物价指数 stock market indices 股市指数 the cost-of-living index 物价消费指数

  9. II. Vocabulary preparation flagship /  / the best and most important product, building, etc. that a company owns or produces 王牌；头号；佼佼者 (~ store/train/company 旗舰店/头等列车／公司) the flagship of a newspaper chain 多家报社中的佼佼者 the flagship of a line of reference books 参考书系列中的王牌 pun /  / an amusing use of a word or phrase that has two meanings, or of words that have the same sound but different meanings 双关语 She made the following pun: Seven days without water make one weak/week.

  10. v.execute a plan/a policy/one’s order II. Vocabulary preparation executive /  / relating to the job of managing a business or organization and making decisions 实行的；执行的；行政的 an executive committee 执行委员会 executive board 董事会; 理事会 executive responsibilities 行政责任 pension /  / sum of money paid regularly by the State to people above a certain age and to widowed or disabled people, or by an employer to a retired employee 养老金；退休金；抚恤金 draw one’s old-age pension live on one’s state pension

  11. II. Vocabulary preparation shareholder /  / someone who owns shares in a company or business 股东 Our shareholders will be pleased with this year’s figures.公司的股东会对今年的业绩感到满意。 share capital the amount of money put into a company by its shareholders when they buy shares and used to buy the items it needs to carry on its activities 股本；股份资本 We need to increase our share capital if we want to expand.我们要扩展业务，就需增加股本。

  12. III. Notes • Peter Sissons (1942-) a nationally known television news presenter in the United Kingdom. He has worked for ITN and BBC news and can currently be seen at the weekends on BBC News 24. 彼德·西森斯 • the FTSE 100 index an index containing the largest 100 companies by market capitalization listed on the London Stock Exchange 《金融时报》100指数,由英国金融界著名报纸《金融时报》编制。

  13. III. Notes • Hamleys a London toyshop founded in 1760 by William Hamley. Today, with around 5 million visitors a year, Hamleys is established as one of London’s major tourist attractions. 哈姆利玩具公司 • bear market a situation in which the value of stocks is decreasing 空头市场；熊市 • bargain basement a basement floor or floors in a department store where goods and apparel(衣服)are sold at reduced or discounted prices 廉价商品部

  14. III. Notes • Wall Street a street in New York which is the most important financial center in America 华尔街 • BBC the British Broadcasting Corporation, the British radio and television company that is paid for by the public 英国广播公司

  15. IV. Exercise: Spot dictation Watch the news clip and get a general idea of what the news report is about. Peter Sissons: It was a tale of two very different stock markets on either side of the Atlantic today. Shares in London fell again, but America’s stock market put up a big rally. Here, the FTSE 100 index fell nearly 81 to 3777. The London market’s fallen almost 30% in the past three months. But what does that loss mean for British companies and (1)? Our Economics Editor, Evan Davis reports.

  16. IV. Exercise: Spot dictation Evan Davis: Hamleys flagship toy store in London. Pardon the pun, but if any company understands life in a bear market, this should be it. A bear market is one where people want to sell, where prices are falling, where (2). The word ‘bear’ in this context comes from an old proverb actually; selling the bear’s skin before one’s caught the bear. But does a bear market, or stock markets (3), actually matter to real companies, like Hamleys? Simon Burke: You know, it’s still selling as well as ever today, and…

  17. IV. Exercise: Spot dictation Evan Davis: Simon Burke is the Executive Chairman of Hamleys. As it happens, his company (4). Sales up. Share price all right. Confidence holding up. Simon Burke: I think in an economy like the UK, there isn’t a strong, direct connection between (5) of share prices and the stock market, and how consumers behave. It’s, it’s one or two steps removed. What can be dangerous is if there is a lot of talk in the newspapers about the destruction of wealth by falling stock markets and (6), which of course can begin to play on people’s minds.

  18. IV. Exercise: Spot dictation Evan Davis: But shares matter (7)too. They say how much a company is worth. Hamleys has 21 million shares, each one gives the owner one-21 millionth share of the company. A share today costs ￡1.69. That makes Hamleys worth ￡35 million. Now, the company made about two-and-a-half million pounds for shareholders over the last year, so the company is worth 14 times (8). Man: Get set, go!

  19. IV. Exercise: Spot dictation Evan Davis: That’s a good way of valuing shares. At the moment, they don’t look expensive, but not bargain basement either. And it matters that they’re not too cheap. Simon Burke: For (9), shares are one of the principal ways in which they raise new cash for investment. That’s part of the point of being on the stock market. So if shares go down, then it means that companies do find it harder to use share capital to invest, and therefore investment can become more difficult.

  20. IV. Exercise: Spot dictation Evan Davis: Around the world, company spending on investment has followed the markets up, and then down again. (10) between what goes on in Hamleys, and what goes on in the City of London or Wall Street, are indirect and they’re slow to be felt. But ultimately stock markets do matter because even Toyland is a share-owning capitalist economy these days. Evan Davis, BBC News.

  21. IV. Exercise: Spot dictation Now, watch again and fill in the blanks. Peter Sissons: It was a tale of two very different stock markets on either side of the Atlantic today. Shares in London fell again, but America’s stock market put up a big rally. Here, the FTSE 100 index fell nearly 81 to 3777. The London market’s fallen almost 30% in the past three months. But what does that loss mean for British companies and (1)? Our Economics Editor, Evan Davis reports. the wider economy

  22. IV. Exercise: Spot dictation Evan Davis: Hamleys flagship toy store in London. Pardon the pun, but if any company understands life in a bear market, this should be it. A bear market is one where people want to sell, where prices are falling, where (2). The word ‘bear’ in this context comes from an old proverb actually; selling the bear’s skin before one’s caught the bear. But does a bear market, or stock markets (3), actually matter to real companies, like Hamleys? Simon Burke: You know, it’s still selling as well as ever today, and… pessimists rule in general

  23. IV. Exercise: Spot dictation is doing well Evan Davis: Simon Burke is the Executive Chairman of Hamleys. As it happens, his company (4). Sales up. Share price all right. Confidence holding up. Simon Burke: I think in an economy like the UK, there isn’t a strong, direct connection between (5) of share prices and the stock market, and how consumers behave. It’s, it’s one or two steps removed. What can be dangerous is if there is a lot of talk in the newspapers about the destruction of wealth by falling stock markets and (6), which of course can begin to play on people’s minds. the performance risks to pensions

  24. IV. Exercise: Spot dictation for another reason Evan Davis: But shares matter (7)too. They say how much a company is worth. Hamleys has 21 million shares, each one gives the owner one-21 millionth share of the company. A share today costs ￡1.69. That makes Hamleys worth ￡35 million. Now, the company made about two-and-a-half million pounds for shareholders over the last year, so the company is worth 14 times (8). Man: Get set, go! its annual earnings

  25. IV. Exercise: Spot dictation Evan Davis: That’s a good way of valuing shares. At the moment, they don’t look expensive, but not bargain basement either. And it matters that they’re not too cheap. Simon Burke: For (9), shares are one of the principal ways in which they raise new cash for investment. That’s part of the point of being on the stock market. So if shares go down, then it means that companies do find it harder to use share capital to invest, and therefore investment can become more difficult. a public company

  26. IV. Exercise: Spot dictation Evan Davis: Around the world, company spending on investment has followed the markets up, and then down again. (10) between what goes on in Hamleys, and what goes on in the City of London or Wall Street, are indirect and they’re slow to be felt. But ultimately stock markets do matter because even Toyland is a share-owning capitalist economy these days. Evan Davis, BBC News. The connections

  27. V. Useful expressions • but America’s stock market put up a big rally • …而美国股市却重振雄风 • Here, the FTSE 100 index fell nearly 81 to 3777. • 在此，金融时报100指数跌了近81点，降至3777点。 • But what does that loss mean for British companies and the wider economy? • 但这些损失对于英国公司和经济大气候意味着什么呢？

  28. V. Useful expressions • A bear market is one where people want to sell, where prices are falling, where pessimists rule. • 熊市中人们都急于抛售股票，股价一路下滑，悲观情绪一统天下。 • Simon Burke is the Executive Chairman of Hamleys. • 西蒙·伯克是哈姆利的执行总裁。 • As it happens, his company is doing well. Sales up. Share price all right. Confidence holding up. • 熊市来临时，其公司的销售状况良好。销量增长，股价稳定，一直令人信心十足。

  29. V. Useful expressions • I think in an economy like the UK, there isn’t a strong, direct connection between the performance of share prices and the stock market, and how consumers behave. • 我认为，像英国这样的经济实体，股价的涨跌、股市状况以及消费者的行为方式之间并无牢固的直接联系

  30. V. Useful expressions • What can be dangerous is if there is a lot of talk in the newspapers about the destruction of wealth by falling stock markets and risks to pension, which of course can begin to play on people’s minds. • 而可能造成危险的是，如果报纸上充斥着大量有关因股市下跌而破财和危及退休金的报道，这势必会开始影响民众情绪。 • At the moment, they don’t look expensive, but not bargain basement either. • 目前看来，它们并不昂贵，但也不是触底廉价。

  31. V. Useful expressions • For a public company, shares are one of the principal ways in which they raise new cash for investment. That’s part of the point of being on the stock market. • 对于一个股份公开公司而言，股票是其筹备现金进行投资的主要途径之一。这是公司上市的部分原因。 • So if shares go down, then it means that companies do find it harder to use share capital to invest, and therefore investment can become more difficult. • 如果股价下跌，那就意味着，公司的确感到难以运用股份资本投资，因此，投资会变得愈加艰难。

  32. Gold price soars • US gold futures ______ past the historical level of _______________________on Thursday, as panicking investors reacted to ___________ for the US dollar and _____ oil prices. Gold soared above 1,000 US dollars per ounce for the very first time on Thursday, a new milestone in futures trading, prompting many investors to enter the____________.

  33. The price of gold has ______ nearly 20 percent since the start of the year, after ______ nearly 32 percent in 2007. The huge ________ is mainly the result of a weaker dollar and record-high prices in crude oil. The dollar _____ below 100 yen Thursday for the first time in 12 years and ________________against the euro, while oil traded above 110 dollars a barrel. • Many industry insiders say that if the dollar continues to______, bullion could rise even further, as more investors turn to gold as a hedge (避免损失而采取的措施) against inflation. But prices could _______ in the short-term due to profit taking.

  34. Gold price soars • US gold futures ______ past the historical level of _______________________on Thursday, as panicking investors reacted to ___________ for the US dollar and _____ oil prices. Gold soared above 1,000 US dollars per ounce for the very first time on Thursday, a new milestone in futures trading, prompting many investors to enter the____________. surged 1,000 US dollars an ounce fresh lows soaring bullion market

  35. jumped rising advance fell • The price of gold has ______ nearly 20 percent since the start of the year, after ______ nearly 32 percent in 2007. The huge ________ is mainly the result of a weaker dollar and record-high prices in crude oil. The dollar _____ below 100 yen Thursday for the first time in 12 years and ________________against the euro, while oil traded above 110 dollars a barrel. • Many industry insiders say that if the dollar continues to______, bullion could rise even further, as more investors turn to gold as a hedge (避免损失而采取的措施) against inflation. But prices could _______ in the short-term due to profit taking. hitanother new low weaken retreat

  36. rise Soar recover rocket stable surge go through the roof back on the track plummet collapse plunge slip fall shaky Supplementary words : words which describe the increase or decrease in share prices

  37. Ex. Asia airline stocks took center stage on Thursday. • China Eastern Air attempted to sell a stake of itself to Singapore Airlines and the [-----1-----] Temasek Holdings. [-----2-----] that Air China, the world's biggest carrier by market value, would launch a [-----3-----] the company. Air China’s parent firm claimed China Eastern was selling itself too cheaply. • Shares in Air China fell nearly 9% by midday. Although China’s air market is booming, China Eastern has lost money for three out of the five past years. High fuel costs are one problem for airlines. But Beijing has recently encouraged companies to seek out [-----4-----], and pushed for sector consolidation.

  38. Sky high oil prices also had a dragging effect on the airline sector, although oil [-----5-----] in Asia trade after tapping a lifetime high above $100 a barrel. [-----6-----], geopolitical uncertainty and a falling US dollar have put the spotlight on [-----7-----] at the start of the year. • Worries about a possible US recession also hurt Asian markets, although Japan remained shut for the New Year holiday. Hong Kong stocks fell for a [-----8-----]. A weak US manufacturing report renewed fears that the world’s largest economy was heading toward recession. • On the upside, gold shares were among the top performers of the day. The [-----9-----] a record high above $850 an ounce, with investors seeking [-----10-----].

  39. eopolitical uncertainty: 不稳定的地缘政治形势。地缘政治是政治地理学中的一种理论。它根据各种地理要素和政治格局的地域形式，分析和预测世界或地区范围的战略形势和有关国家的政治行为。它把地理因素视为影响甚至决定国家政治行为的一个基本因素。 • city state: 城邦，这里特指新加坡，因其以孤城为国。新加坡共和国（The republic of Singapore），是一个城市国家，原意为狮城。 • stockpile: 积蓄，库存。文中指越来越贫乏的美国石油储量（美对伊增兵的潜在原因之一）。 • crude oil price: 原油价格。

  40. VIII. More about stock market Do you know…? Answers: 1. T (市盈率) 2. F (蓝筹股) 3. T • P/E stands for price/earnings ratio. • A blue chip stock is one that not many people have heard of. • Stock prices are determined by demand.

  41. VIII. More about stock market Do you know…? Answers: 4. F (diversify=多样性投资) 5. T (speculation=投机) 6. F (revenue=收入) • Diversifying your investments means to buy all your stocks in one type of company. • Speculation means taking a risk. • The amount by which the costs exceed the revenue is called the profit.

  42. VIII. More about stock market Do you know…? Answers: 7. F (The Dow Jones Industrial Average =道琼斯工业平均指数) 8. T (the New York Stock Exchange =纽约证券交易所) • The Dow Jones Industrial Average is the only average to serve as an indicator of movement in the market. • There are more than 1000 stocks listed on the New York Stock Exchange.

  43. VIII. More about stock market Do you know…? • What are three considerations you must make when deciding which stocks to buy? - Economic Outlook (what does the news say? ) - Industrial Outlook (competition, availability of resources? ) - Company outlook (how is it managed, does it keep on latest technology, life cycle, merger or acquisition)

  44. VIII. More about stock exchange Stock Index 股票指数 • DJIA(Dow Jones Industrial Average) 道•琼斯工业平均指数 • Nasdaq Composite Index 纳斯达克综合指数 • Standard & Poor’s 500 标准•普尔500指数 • NYMEX(New York Stock Exchange Composite Index) 纽约证交所综合指数 • Nikkei(Nikkei-Dow Jones Average) 日经—道指数 • Hang Seng Index 恒生指数

  45. 股息率 互助基金 普通股 年报 经纪商 债券 资本利得 市盈率 broker P/E ratio mutual funds capital gains bond annual reports equities dividend yield VIII. More about stock exchange Matching

  46. Unit 2 Economy Part B: Soaring Gas Prices

  47. I. Vocabulary preparation Vocabulary Preparation: relief /  / money given by the government to help people who are poor, old, unemployed, etc. 救助；救济 famine relief relief agency/organization to send relief to flood victims 将救济物资运送给遭受水灾的灾民 unleaded /  / not containing tetraethyl /  / lead 无铅的；不含铅的 unleaded gasoline 无铅汽油

  48. I. Vocabulary preparation ripple /  / to pass from one person to another like a wave （消息）传开；（声音）轻轻荡漾 Panic rippled through Hollywood as the murders were discovered. a ripple (n.) of applause/laughter/fear languish /  / to remain unattended or be neglected 被冷落；未被注意或被忽视 legislation that continued to languish in committee 在这个委员会里继续被搁置的立法 Conversation languished (冷下来了). Share prices languishes (停滞在) at $1.67.

  49. I. Vocabulary preparation water down to make a statement, report, etc. less forceful by changing it or removing parts that may offend people - used to show disapproval 冲淡；打折扣 water down whiskey / the support I’ve watered down the report’s conclusions so as not to alarm the directors. 我把报告的结论加以淡化，免得使董事们惊慌。 controversial /  / causing a lot of disagreement, because many people have strong opinions about the subject being discussed 引起争论的；有争议的 a highly ~ movie/issue/decision/stand (on) n. a point of controversy spark/arouse/cause a bitter ~ over/about/surrounding human rights

  50. I. Vocabulary preparation substantial /  / large in amount or number 充实的；丰富的 substantial change/improvement/progress substantial reasons/arguments/evidence won by a substantial margin 大胜 incentive /  / thing that encourages somebody to do something; stimulus 刺激；激励 economic/material/tax incentive (to do sth.) Money is still a major incentive in most occupations. globe-trotting /  / traveling through many countries seeing as many different things as possible 环球旅行的；周游世界的 (globe-trotter)

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