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the ABOUT section
HW check: Economics vs. economy
RB p 14, VI: Fill in the blanks
1, 2, 4, 6, 16, 18, 19 (1), 23, 21 – economic
3, 7, 10, 12, 15, 19 (2) – economy
5, 9, 11, 24 – economical
8, 13, 20, 25 – economics
17, 26 – economist(s)
22, 27 – economise
VII Sort out the words
- theoretical, Keynesian, classical, applied economics
- international, booming, healthy, black, fragile, global
economy
SENTENCES?
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 16-19
HW check: IV Headings and correct bold-typed words:
Informed voting – civic duty
1 ____________________
Impact on personal life
2 ____________________
economic - economics - economics
Chief interest of economics
3 ____________________
/skeәs/ /ska:s/
Scarcity of resources /skeәsәti/
4 _____________________
scarce
economy – economic – economize – economics
Careful allocation of resources
5 _______________________
economics
topics in economics
6 Research
______________________
Scientific tools and methods
7 __________________
economy – economy
economic - economic
Discovering an objective reality? 9 __________________
Obstacle: clinging to...
8 __________________________
economics
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 exercise
RB, 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
future
c) psychokinesis:perceiving events
external to situation
Which of the three would you prefer
learning from?(3)
Example of a mind map (4)
Details
Details
Idea
Idea
Main Concept
Idea
Details
Idea
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!
→ Making notes on WHY ECONOMICS?
Benefit from work already done 
TACKLE EACH PARAGRAPH SEPARATELY:
1 NUMBER the paragraphs  Piece of cake!
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
HEADINGS
Informed voting – civic duty
Impact on personal life
Chief interest of economics
Scarcity of resources
Careful allocation of resources
Research topics in economics
Scientific tools and methods
Discovering an objective reality?
Obstacle: clinging to familiar theoretical conceptions
SUBHEADINGS
Observation
Economic analysis
Statistical 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?
1 informed voting (civic duty)
2 impact on personal life (quality)
(SPACE IT OUT!)
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_
TR
_ _A _CT
_ ING…
…RAW MATERIALS
E _ST
• HAR V
__
_ I_N_G…
FROM THE EARTH
E _R_I _
NG
• OR GA T_ H
__
_…
THE PRIMARY SECTOR
Match with pictures: forestry, mining, fishing, quarrying,
agriculture, oil drilling
THINK OF JOBS WHICH DEAL
WITH…
• EXTRACTING…
• HARVESTING…
• OR GATHERING …
mining
agriculture
fishing
…RAW MATERIALS
FROM THE EARTH
quarrying forestry oil drilling
THE PRIMARY SECTOR
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.
2.
3.
4.
5.
6.
7.
8.
SMELT
WELD
PROCESS
BREW
ASSEMBLE
CONSTRUCT
MANUFACTURE
PRODUCE …
Which nouns can follow?
e.g. to smelt ore
to weld metal
WHICH OF THESE SERVICES ARE
IMPORTANT FOR YOUR LIFE?
INSURANCE
GOVERNMENT
BANKS
RETAILING
EDUCATION
HOSPITALITY
INDUSTRY
TRADE
NEWS & MEDIA
CONSULTING
LEGAL PRACTICE
REAL ESTATE
HEALTHCARE
TRANSPORT
ADVERTISING
ICT
TERTIARY (SERVICE) SECTOR
/ tɜ:rʃəri or tɜ:rʃiəri /
The tertiary sector evolves...
INSURANCE
GOVERNMENT
BANKS
RETAILING
HIGHER EDUCATION
HOSPITALITY
INDUSTRY
TRADE
CULTURE
NEWS & MEDIA
CONSULTING
LEGAL PRACTICE
REAL ESTATE
HEALTHCARE
TRANSPORT
ADVERTISING
ICT
R&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