economics-an introduction-outcome 2

Growing Up1 Fifty years ago parents still asked boys if they wanted to grow up to be president, and asked it not jokingly but seriously. Many parents who were hardly more than paupers still believed their sons could do it. Abraham Lincoln had done it. We were only sixty-five years from Lincoln. Many of grandfather who walked among us could remeber Lincoln. Men of grandfatherly age were the worst for asking if you wanted to grow up to be president. A surprising number of little boys said yes and meant it.五十年前父母大都会问男孩子们长大后想不想当总统,问这话时一本正经,并非开玩笑。

许多穷得跟乞丐似的父母也仍然相信他们的孩子能当上总统。

亚伯拉罕・林肯就做到了。

我们与林肯那个时代仅仅差65年。

依然健在的许多爷爷辈的人还能记得林肯时代。

就是他们最喜欢问你长大后想不想当总统。

回答说想当的小男孩数量多得惊人,而且他们是当真的。

2 I was asked many times myself. No, I didn’t want to grow up to be president. My mother was present during one of these interrogations. An elderly uncle, having posed the usual question and exposed my lack of interest in the presidency, asked, "Well, what do you want to be when you grow up.我就曾经被问过多次。

Outcome 21.书178，179二个图Households buy commodities from firms, using the income individuals receive for their labour and capital supplied to firmsThe firms use the income received from the sale of commodities to pay for the labour and to invest in new premises,plant and equipment.2.Injections：Investments：Loan from banks, building societies, insurance companies etc. Money saved by household can be re-injected back into the inner flow as investment by business sector (firms) after they borrow the money out of financial institutions. Government Spending：Roads, hospitals, ing the fund largely collected through taxation, the government can be the biggest buyer spending money on the products and services provided by firms If government wishes to expend the flow of income in circulation, it may choose to increase the amount of its spending and probably adopt a tax-cutting.Exports：These are goods and services that are sold abroad. The payment for them will return to the firms in this country. For example, if someone buys textiles of China, then the proceeds of the sale belong to our country. This increases the circular flow and creates more economic activity in the economy for our country. Withdraws：Savings：Amount of income that consumers choose not to spend but retain for the future uses (normally deposit in financial institutions, e.g. banks and buildingsociety). Ability or desire to save out of income is measured by ‘marginalpropensity to save (MPS)’. Level of income is the biggest factor affects level of savings, i.e. the higher the income is, the greater savings (withdrawal) out ofcircular.Taxation：Through forms as personal income tax, V AT, corporate income tax, the disposable money circulated in the economy is drawn out by the government as its revenue. This can be in the form of direct tax on our income or indirect tax onpurchases, for example V AT.Imports：Part of the consumption of both households and firms are on foreign products or products contain imported components. So that portion of expenditure will eventually go into foreigners’ pockets therefore reduce the total income circulatedin domestic economy. For example if someone in Britain buys a Japanese car, then the proceeds of the sale will go back to Japan. Imports are therefore withdraws from the circular flow.3.四选二(a)1.Production: In calculating GNP, only those items which are paid for are normally included because calculations have to be made in money terms, the inclusion of other goods and services would involve imputing a value to them. For example, if a value is placed on certain jobs which a person does for himself—growing vegetables, cleaning his car, painting his house, then why not include shaving, cooking, cleaning, driving to work, etc. on the other hand, excluding what a person does for himself may distort national income figures. An imputed money value is included for certa in payments in kind which are recognized as a regular part of a person’s incoming earning, for example, goods produced and consumed by a farmer.2,Danger of Double Counting:This can arise through ‘stock appreciation’. When inflation occurs, the value of stocks of raw materials goods raises. While this adds to the profits of firms holding such stocks it represents no increase in real output. Such gains therefore, must be deducted from the Income and Output figures.3,The Black Economy: The size of the black economy can be difficult to estimate but certainly causes distortion. National Income figures for certain industries, for example, building industries have many workers who are self-employed and are paid in cash, tax revenue is lost and welfare benefits are claimed unnecessarily.(c)National Income will be in equilibrium when expenditure is equal to consumption or when injections equal total withdrawals total. And change in the level of injection or withdrawals will bring about a change in National Income. However, the change in National Income will be relatively greater than the initial change. This is known as the “Multiplier” effect.+ 书第200页的公式。

商法导论outcome21.s看见橱窗展示了一套高尔夫球具，他走进店要求购买该球具，店主不卖，a坚持要以展示的价格来买。

问：合同要素是什么，该案中合同存在吗？A valid contract has three essential features.Firstly,the parties must agree on the terms of the contract. For all aspects of the content of contract，the parties reach a consensus through consultation. Sencondly, the conclusion of the contract shall be attended by at least two parties, only one of the parties does not exist the problem of conclusion of the contract.Thirdly,observation of law. In concluding and performing a contract,the parties shall observe tha law and administrative regulations, respect social ethics and they disrupt public and economic order or impair public interests.In case,the contract is not established.Because the essential of contract is not incomplete. The display window demonstration is an important contract invitation merely,the n the customer could be able to walk in and demand the goods.F or example,Pharmaceutical Society of Great Britain v Boots The Chemists(1952). A sales of a listed poisons must have a registered pharmacist to supervision. If the goods on the shelf is an offer,then the goods in the basket is completed by sales and this behavior is illegal. The judgment of the court is not breaking. The goods on the shelfis an invitation to offer but not an offer.2.t是汽车公司的销售员，竞争公司挖墙角，要他跳槽，但是雇佣合同中有一个条款禁止他为其他任何汽车公司工作在离职后的五年内。

最小二乘法的英文书籍The Method of Least SquaresThe method of least squares is a statistical technique used to determine the line of best fit for a set of data points. This method is widely used in various fields of study, including engineering, physics, economics, and social sciences, to analyze and interpret data. The basic principle behind the method of least squares is to minimize the sum of the squared differences between the observed values and the predicted values. In other words, the method aims to find the line or curve that best represents the relationship between the independent and dependent variables in a dataset.The history of the method of least squares can be traced back to the early 19th century, when it was independently developed by several mathematicians and scientists. The most notable contributors to the development of this method include Carl Friedrich Gauss, Adrien-Marie Legendre, and Thomas Bayes. Gauss, in particular, is credited with the formalization and widespread use of the method, which he applied to various problems in astronomy and physics.The method of least squares is based on the assumption that theerrors or deviations between the observed values and the predicted values are normally distributed, with a mean of zero and a constant variance. This assumption is known as the Gauss-Markov assumption, and it is crucial for the validity of the method's statistical properties.The process of applying the method of least squares involves the following steps:1. Identify the independent and dependent variables: The first step in using the method of least squares is to identify the variables that are being studied. The independent variable (or variables) is the factor that is being manipulated or controlled, while the dependent variable is the outcome or response that is being measured.2. Collect the data: Once the variables have been identified, the next step is to collect the data. This typically involves measuring the values of the independent and dependent variables for a set of observations or data points.3. Fit the line of best fit: The method of least squares is used to determine the line or curve that best fits the data. This is done by minimizing the sum of the squared differences between the observed values and the predicted values. The resulting line or curve is known as the line of best fit or the regression line.4. Interpret the results: After the line of best fit has been determined, the next step is to interpret the results. This may involve calculating the slope and intercept of the line, as well as the goodness of fit, which measures how well the line of best fit represents the data.The method of least squares has several important properties that make it a powerful tool for data analysis. First, the method is unbiased, meaning that the predicted values are, on average, equal to the true values. Second, the method is efficient, in the sense that it produces the smallest possible variance of the predicted values. Finally, the method is consistent, which means that as the number of data points increases, the predicted values converge to the true values.Despite its many advantages, the method of least squares also has some limitations. For example, the method assumes that the errors are normally distributed and have constant variance, which may not always be the case in real-world data. Additionally, the method is sensitive to outliers, which can have a significant impact on the resulting line of best fit.In recent years, the method of least squares has been extended and refined to address some of these limitations. For example, robust regression techniques have been developed to deal with outliers, while Bayesian methods have been used to incorporate priorinformation into the analysis.Overall, the method of least squares is a powerful and widely used tool for data analysis. Its ability to identify the line or curve that best represents the relationship between variables makes it an essential tool in a wide range of scientific and mathematical disciplines.。

1Marketing is defined as a process of planning and implementing ideas, products, price and services, promoting and distributing products, in order to meet customers‟demand and make profits.The marketing concept consists of five import parts: production, product, selling, marking and societal marketing. It‟s an outside-in approach, while the product philosophy is an inside-out approach. Although they have something in common—both of them aim at making benefits for the business, their focuses are different.To the marketing concept, organizations must try their best to know well the needs, desires and wants of their customers, for their principle is “customer is god”. What‟more, they should more effectively integrate the marketing mix ,including product, place, promotion and price, than their competitors, so as to make their products and services better and better to satisfy these interests, then by promoting and advertising introduce goods to them, in returns consumers will be attracted to buy their goods to meet the interests of organizations.But product philosophy is most concerned about internal capacity, not customers. The definition of internal capacity is the ability to handle raw materials and the number of products that all permanent assets of the organization produce, which involves in the production in the planned period and in a given technical condition. To improve the internal capacity, produce goods of the highest quality at the lowest cost and make the largest profit is its purpose.2.The marketing mix includes four elements: product, price, promotion and place.The explanation of the product element of the marketing mix: in 1986 the range of products of Landed—a company of wooden toys aimed at the pre-school market, was greatly limited to wooden building bricks and jigsaws. Its products could only be sold to small toys shops. However, as the company developed, its range of products has quickly enlarged. But for its former products, it not on-ly added with dolls‟houses and wooded train sets, but also brought in “Country Cousins” books and a new range of pre-school books. The enrichment and diversity of its range of products made this company bigger and bigger.The explanation of the price element of the marketing mix: a correct pric ing policy, a reasonable price is very import in the market competition. For example, on the early 1990s, Landed was rapidly flourished, and the “Country Cousins”books were sold at a premium. But then in order to occupy the favorable position in the competition, the company had to reduce its high price to a competitive level. Now more and more competitors have attended to this market, so in order that it can ensure continued distribution, the company is setting about reducing the price lower.The explanation of the promotion element of the marketing mix: the promotion has many aspects, such as advertising, sales promotions, personal selling and direct marketing. The promotional team must come up with the best promotion policy. The “Country Cousins”books were not well sold by bookshops, so the company sold them to toy retailers.The explanation of the place element of the marketing mix: Landed met with a big opportunity and challenge—the Welsh language TV channel SC4 introduced an animated program describing an assortment of animal characters collectively known as the …Country Cousins‟.Fortunately, the company won the contract to make a limited range of merchandise featuring the characters, and the popularity of the series, and it gave it a considerable sale. Then the TV proposed a national airing and national launch. In order to continue the patronage, Landed‟s sales team decided to keep the friendly relationship with existing outlets. They concentrated at retailers and middlemen, connected with established clients for personal selling. Now they very value the advertisement among children.3..For a privately owned Sports Club, its elements of the marketing mix refer to the followings: product, price, promotion, place, people, process and physical evidence.First, the product of privately owned Sports Club is its service, which opposes to a common product. Services, unlike physical products, happen "on the spot" and customers like to know what to expect. The privately owned Sports Club offers service to customers, which is essentially intangible and does not result in ownership of anything. The Landed Toy Company products are goods.Second, price, as we know, price is one of the most flexible elements of the marketing mix. It will be affected by consumers, the trade and the competition. For example, if customers feel the price of the Sports Club is lower than others, most of them may choose this club, while the price of Landed Toys Company products changes with the situation they have in the market: set premium price (previous) ------cut the price (now) -----reducing price (future).Third, promotion is what a company say and do concerning products and services in order to persuade customers and markets to try them. The privately owned Sports Club not only uses advertising but communicates with customers to help them have a better understanding of the company. Landed Toys Company Landed did very little advertise at first, but now they use newspaper to promote its products originally.The next is place, which not only includes retail store, online shop but also the movement of goods. If you want to book the ticket of the club, you can buy in the club or online. Landed Toy Company sells its products through a number of intermediates, nowadays it carries out with the idea of mail order selling.Fifth, people are part of the offering service. If the customers are satisfied with your service, it may have a positive effect on the development of your company. Sixth, processes mean caring about the quality, reducing the queuing systems and service delivery to ensure consistency of service. At last, p hysical evidence is the “tangible” part of the service, like the facilities in the club.Different from a Landed company, which distributes its products to its customers,Sports Club always has to get its customers to come to it. Those who come to the sports club are pursuing high quality services, although its price is higher. Therefore, Sports Club usually has relatively affluent target market and local promotions meeting the local demands. In this way, it is principal for a sports club to choose a right location.4.The environment in which an organization exits can affect industry or the individual organizations. An internal environment is the systems of the company, the effectiveness of which to a great degree rests with its culture, including micro and macro environment, competition intermediaries, and suppliers stakeholders. A micro environment is all those factors which lie beyond the organization, and a successful organization is contributed by those in the microenvironment, for example, the company, the distributors, customers, competitors and public, however, the macro environment indicates the lager forces which affect the way in which an organization operates and over which the organization has little or no control. These can be known acronym PEST.With the changing environment, PEST is also changing: first, in the political aspect: as the international communication developing, it is not simply domestic politics which will have influence on marketing strategy. Second, economically, suppliers have become more and more, as a result, competition has become more and more fierce, this will influence costs, prices and demand. Third, changes and trends in the sociocultural environment bring forth significant challenges. People's basic beliefs, attitudes and values are shaped by the society in which they grow up. Forth, developments and breakthroughs in technology give birth to new products and sometimes new industries.Following factors may affect Landed: the declining birth rate, growing demand for more technological toys, increased affluence, growth in competition from larger competitors, growing dominance of larger retailers.For the sake of getting over these risks, altering marketing mix, the company introduced some new products to satisfy different market meets, drew into added value products at higher prices, developed higher profile promotions to compete with rivals, and used sales team to develop good relationship with retailers.。

Chapter 2The price system and the microeconomy1、Demand and supply curveDemand scheduleDemand curveDemand curveSupply•Supply:the willingness andability to sell a product.•Market supply :total supply of a product.Supply curveEquilibrium:The demand and supply are equal surplus:supply exceeds demand.shortage:demand exceeds supply.Demand and supply diagram2、Factors influencing demandprice and demandmovement along demand curve•An extension of demand •A contraction of demandThe relationship between non-price factors and demand1、income:•normal goods:positive relationship•inferior goods:negative relationship (poor quality stuffs)2、price and availability of related products:•substitute:alternative goods and can satisfy the same want.•complement:have a joint demand as they enhance the satisfaction that consumers derive from another product.joint demand:two goods are consumed together.3、Advertising4、Changes in population5、Changes in taste and fashion6、Other factors:weather,expectation,special events •An increase in demand •A decrease in demand shift in demand curveThe effect of changes in Demand3、Factors influencing supply•An extension of supply •A contraction of supplymovement along demand curveprice and supplynon-price factors influencing supply•The costs associated with supplying the product wage rates;raw material prices;energy prices;transport •the size,structure and nature of the industryincreasing industry;price war •government policy legislation;tax•other factors:weather,future expectations,joint supplyThe effect of changes in DemandPrice Elasticity of DemandDefinition:A measure of the responsiveness of demand to a change in price.PEDPercentage change in quantity demandedpercentage change in pricePED% ∆ QD % ∆ PInterpretation :sign:inverse relationship between demand and price size:the extent by which demand will extend orcontract when price changesElastic and Inelastic DemandElastic demand occurs when a change in price results in a greater percentage in demand,giving a PED figure more than1but less than infinity.When demand is elastic,price and total revenue move in opposite directions.Inelastic DemandInelastic demand occurs when a change in price results in a smaller percentage in demand,giving a PED figure less than1but more than zero.When demand is inelastic,price and total revenue move in the same directions.other degrees of elasticity•Perfectly elastic demand:PED is infinity.•Perfectly inelastic demand:PED is zero.•Unitary elasticity of demand:a percentage change in price results in an equal percentage change in demand.PED=1 Factors Determining the Degree of Elasticity•availability of substitute•the proportion of income spent on the product •luxury or necessity•addictive or not•whether its purchase can be postponed•how the market is defined•the time period under considerationChanges in PEDPrice and PED•As the price rises,PED becomes more elastic;•As the price falls,PED becomes more inelastic.Demand and PED•As the demand rises,PED becomes more inelastic;•As the demand falls,PED becomes more elastic.Income elasticity of demand•a measure of the responsiveness of the quantity demanded following a change in income•positive and negative Cross elasticity of demand•a measure of the responsiveness of the quantity demanded for one product following a change in the price of another related product.•XED=%%•substitute:positive•complement:negativePrice Elasticity of SupplyDefinition:A measure of the responsiveness of supply to a changein price.PES Percentage change in quantity supplied percentage change in pricePED% ∆ QS% ∆ PInterpretation:sign:positivesize:the extent by which supply will extend or contract when price changesElastic and Inelastic supplyElastic supply occurs when a change in price results in a greater percentage in supply,giving a PED figure more than1but less than infinity.Inelastic supply occurs when a change in price results in a smaller percentage in supply,giving a PED figure less than1but more than zero.Factors Influencing PESthe time taken to produce it(agriculture);the cost of altering its supply;feasibility of storing it;feasibility of increasing productionother degrees of elasticity•Perfectly elastic supply:PES is infinity.•Perfectly inelastic demand:PES is zero.•Unit elasticity of supply:a percentage change in price results inan equal percentage change in demand.PES =1Changes in Demand and Supplyconsumer surplusthe difference between the value a consumer places on units consumed and the payment needed to actually purchase that product.Producer surplusthe difference between the price a producer is willing to accept and what is actually paid。

Economics Ten Fundamental PrinciplesIntroductionEconomics is a field of study that examines how individuals, businesses, and societies allocate resources to satisfy their unlimited wants and needs. The study of economics is built upon ten fundamental principles that provide insights into how economic decisions are made and the impacts they have on various aspects of a society. In this document, we will explore these ten principles and their significance.1.People Face Trade-offsThe first principle recognizes that individuals and societies face trade-offs when making decisions. For instance, a government may need to choose between spending on education or defense. Similarly, an individual may choose to spend their money on healthcare or entertainment. Trade-offs necessitate decision-making based on the most desirable outcome.2.The Cost of Something is What You Give Up to Get ItThis principle relates to the concept of opportunity cost. When making a choice, the cost of that decision is not just the monetary value but also the value of the best alternative foregone. For example, if you choose to go to a concert, the cost is not only the ticket price but also the value of the time spent at the concert rather than doing something else.3.Rational People Think at the MarginEconomists assume that individuals are rational and make decisions based on marginal costs and benefits. Marginal analysis involves comparing the additional benefits and costs of a decision and making adjustments accordingly. For instance, a rational consumer will buy more of a good as long as the marginal benefit exceeds the marginal cost.4.People Respond to IncentivesIncentives are crucial in economics as they influence people’s behavior. When individuals or firms face incentives, they are more likely to change their actions. For example, higher taxes on tobacco products are intended to discourage smoking.5.Trade Can Make Everyone Better OffTrade allows individuals and nations to specialize in what they do best and exchange goods and services. By specializing in the production of certain goods, individuals can benefit from increased productivity and trade those goods for other items they need. This mutual benefit improves the overall well-being of all parties involved.6.Markets Are Generally EfficientMarket forces of supply and demand generally lead to efficient outcomes. The invisible hand, a term coined by economist Adam Smith, explains that individuals pursuing their self-interest in competitive markets can inadvertently promote the well-being of society as a whole. This principle emphasizes the importance of free markets and limited government intervention.ernments Can Improve Market OutcomesWhile free markets are generally efficient, there are situations where government intervention can improve market outcomes. Market failures, such as externalities or monopolies, may require government intervention to ensure fairness and efficiency. Additionally, governments can implement policies to promote equality and social welfare.8. A Country’s Standard of Living Depends on Its Ability to ProduceGoods and ServicesProductivity is a key driver of a country’s standard of living. The ability to produce goods and services efficiently and effectively leads to economic growth and higher living standards. Investments in human capital, technology, and infrastructure are essential in increasing productivity.9.Prices Rise When the Government Prints Too Much MoneyThis principle highlights the relationship between inflation and the money supply. When the government prints excess money, it devalues the currency, leading to higher prices for goods and services. Maintaining a stable money supply is crucial for economic stability.10.Society Faces a Short-Run Trade-off Between Inflation andUnemploymentThis principle pertains to the Phillips curve, which illustrates the inverse relationship between inflation and unemployment in the short run. It suggests that policymakers face a trade-off when attempting to reduce unemployment. Stimulating the economy may lead to higher inflation, while combating inflation could result in increased unemployment.ConclusionThese ten fundamental principles of economics provide a framework for understanding how individuals, businesses, and societies make decisions and allocate resources. By considering the trade-offs, costs, incentives, and market forces, policymakers and individuals can make more informed choices. Economics allows us to analyze the complex interactions within an economy and develop strategies to promote economic growth, efficiency, and social welfare.。

UNIT 2 Economist1.Every field of study has its own language and its own way of thinking. Mathematicians talk about axioms, integrals, and vector spaces. Psychologists talk about ego, id, and cognitive dissonance. Lawyers talk about venue, torts, and promissory estoppel.每个研究领域都有它自己的语言和思考方式。

数学家谈论定理、积分以及向量空间。

心理学家谈论自我、本能、以及认知的不一致性。

律师谈论犯罪地点、侵权行为以及约定的禁止翻供。

2.Economics is no different. Supply, demand, elasticity, comparative advantage, consumer surplus, deadweight loss—these terms are part of the economist’s language. In the coming chapters, you will encounter many new terms and some familiar words that economists use in specialized ways. At first, this new language may seem needlessly arcane. But, as you will see, its value lies in its ability to provide you a new and useful way of thinking about the world in which you live.经济学家也一样。

Assessment task 2Assessment task instructions The UK economy is made up of millions of people and billions of economic activities. Within these activities, goods and services are created and exchanged. It can be complicated at times but a simple model explaining in general terms how an economy is organised and how those involved interact is a good start.Question 1 Draw a diagram showing the participants of the Circular Flow of Income and explain how it operates. The simple model is sufficient for a beginning, but an economy is more complex and involves external influences, which can raise or lower economic activity.Question 2 Identify three injections and three withdrawals from the Circular Flow of Income; give examples of each, and how they affect levels of economic activity. In the following table, there are examples of the growth rate of various countries over nine years Country United Kingdom United States Bulgaria Switzerland 1994 4.7 4.0 1.8 0.3 1995 2.9 2.7 2.1 0.6 1996 2.63.6 -9.4 0.3 1997 3.44.4 -5.6 1.7 1998 3.0 4.3 4.0 2.4 1999 2.14.1 2.3 1.6 2000 3.1 3.85.4 3.0 2001 1.9 0.3 4.0 1.3 2002 1.6 2.4 3.5 0.6Question 3 Choose any two of the following questions: (a)Explain at least three difficulties encountered in measuring the National Income of a country. (b) Explain (using at least three reasons) why it is difficult to compare the growth rates of the countries in the table above. (c) Explain how the multiplier effect could substantially raise the level of National Income. (d) Explain the difference between real and nominal growth using the table above.Assessment task 2 Outcome(s) covered 2 Suggested solution and making an assessment decisionQuestion 1 A circular flow diagram clearly identifying the following in their correct places: Firms: Households: Markets for factors of production: Land, labour, capital and wages, rent, profit and income. revenue spending Goods and services sold Goods and services bought Firms Households Production inputs Land, labour, capital Wages, rent, profit income （PPT 书P74）Question 2Injections: Investment Withdrawals: Savings Government spending Taxation Exports Imports Appropriate examples: Investments: New factory being built 【built a new private enterprise (grow)】Government spending: New hospital being built (not PFI or PPP)【built public schools (grow)】Exports: Firm wins order to supply new computers to foreign firm 【In cooperation with foreign sales (grow)】Savings: High interest rates result in more savings【a country saves too much of its income (decline)】Taxation: Imports: Government raise level of income tax 【government raise income tax (decline)】Record numbers of holidaymakers go on overseas holidays 【spending on foreign goods by more national】（PPT书P73）Question 3(a) Any three from the following: Errors/omissions from the data gathered，Black economy，Non-recorded items，eg DIY, housework, barter，Transfer income，Double counting.(b) Methods may change over time. Accuracy of figures，Inflation adjustments，Social conditions，Work conditions，Unequal distribution of income. Spending patterns eg defence.(c) Explanation of multiplier either in words or through use of algebra（书P199.200）. Explanation should show that an initial injection to National Income results in a larger level of NI than the original injection. Propensity to save and consume.(d) An explanation of the difference between real and nominal growth, identifying that in real terms inflation is taken into account. In 1998 the growth rate is shown as 3%. If this figure is the nominal rate and inflation is measured at 3.1%, then there is no real growth in the economy. Any similar example will suffice.【GDP=Consumption +Capital investment spending +GeneralGovernment spending +Exports +Imports of Goods(Services) GNP=GDP+NPIA(Net property income from abroad) National Income=GNP-Capital Consumption Real Growth Rate=Nominal Growth Rate-Inflation Rate (Real Growth is the grow adjusted for inflation, Nominal Growth is the grow in the current value of money, Inflation Rate is measure of rate of change in price index)2000: 3.1-3.2=-0.1 no real growth 】附加工作总结一篇，不需要的朋友下载后可以编辑删除，谢谢安全生产监管执法工作方案5篇第一篇一、指导思想2014年，全区安全生产监管执法工作要以科学发展观为指导，全面贯彻落实《国务院关于进一步加强企业安全生产工作的通知》和《省政府关于进一步加强企业安全生产工作的意见》文件精神，进一步规范安全生产监管执法行为，落实行政执法责任制，提高依法行政水平，严厉打击安全生产领域的非法违法行为，及时消除事故隐患，促进全区安全生产形势进一步稳定好转。

Syllabus of『Fundamental Methods of Mathematical Economics』(数理经济学基础)Course DetailsSemester: 2005-2006学年,第2学期Lecturer 张明恒PhD., Associate ProfessorOffice: (教学行政大楼) Teachers Official Buildings 512RoomOffice Time: P.M.6:30 – 8:30, TuesdayTelephone: +86 21 6590 2567E-Mail: mingheng@Coordinator:Date: 3/4,Wed;1/2,FridayRoom: 1405Rm, No.1 Teaching Buildings(1405,国定路一教) Website: /~mingheng/MathEcon.htmlStudent Background(i)the pre-session mathematics course(ii)the background mathematical material(iii)the fundamental of EconomicsGeneral AdviceThe key to success in a course like mathematical economics is to work carefully and consistently on the course material as the semester progresses. Falling behind with the course material is a recipe for disaster. Therefore students are strongly urged to attempt to complete the exercise sheets prior to attending the examples class and to read the appropriate chapters in the course text in conjunction with their lecture notes.The learning resources(i)the office hours of the lecturer when he will be available to see students;or make appointment by email or phone to meet the lecturer at anothertime(ii)the textbooks (incl. the materials on the classroom)(iii)the materials on the course web page(iv)the discussion with (the advice from) colleagues and friends on the course AimsThe aims of this course are to(i)Provide an introduction to mathematical methods for economics that willassist students in understanding mathematical research in their field;(ii)Enable students to apply these mathematical methods in their own research.ObjectivesAt the end of the course students should be able to(i) Demonstrate their understanding of the mathematical methods foreconomics;(ii)Understand and study Equilibrium Analysis, Comparative Statics Analysis, Optimization (multivariate), Dynamic Economic, Simultaneous Equations andLinear Programming etc.;(iii)Ready to advanced microeconomics, macroeconomics and econometrics.List of Readings1)Chuang,A.C., Fundamental Methods of Mathematical Economics,McGraw-Hill Publishing Company, 1984, 3rd Ed. (刘学译, 数理经济学的基本方法, 商务印书馆,2003年)(Text Book).2)Silbergerg, E., The Structure of Economics – A Mathematical Analysis,McGraw-Hill Education - Europe, 1990, 2nd ed, paperback.3)Klein,M.W., Mathematical methods for Economics, Addison-Wesley, 1998.4)Dowling,E.,T., Theory and Problems of Introduction to Mathematical Economics, 3nd5)Handbook of Mathematical Economics Vol.1-6,6)International Journal on Mathematical Economics such asi.Journal of Mathematical Economicsii.Journal of Economics Theoryiii.Journal of Economics and Businessiv.Journal of Mathematical Financev.Journal of Econometricsvi.Mathematical Social Sciencesvii.Economics Modellingviii.Economics Lettersix.Economics Theoryx.Game TheoryLecturesChapter 1 Nature of Mathematical Economics/数理经济学的实质Chapter 2 Economic Models/经济模型Chapter 3 Equilibrium Analysis in Economics/静态均衡分析，市场均衡模型，国民收入均衡模型Chapter 4 Linear Models and Matrix Algebra/线性模型与矩阵代数Chapter 5 Linear Models and Matrix Algebra/线性模型与矩阵代数，市场模型，国民收入模型，Leontief投入产出模型Chapter 6 Comparative Statics and the Derivative/比较静态分析，变化率/导数/曲率，极限定理，函数的连续性与可微性Chapter 7 Rules of Differentiation and Comparative Statics，微分法则，偏微分，Jacobi行列式Chapter 8 Comparative Statics of General Function Models，全微分/全导数，隐函数存在定理，一般函数模型的比较静态分析Chapter 9 Optimization (univariate)，最优值与级值，导数检验，Maclaurin/Taylor 级数Chapter 10 Exponential and Logarithmic Functions/指数函数与对数函数，自然指数与增长问题，最优时间安排Chapter 11 Optimization (multivariate)/多变量的最优化，最优化条件的微分形式，二次型，目标函数，Hessian矩阵检验，函数的凹/凸性与极值问题，多产品厂商问题，价格歧视，投入决策Chapter 12 Optimization with Equality Constraints/具有约束方程的最优化，Lagrange Multiplier, Bordered Hessian Matrix检验，二阶条件效用最大化与消费需求，齐次函数/生产函数，投入最小成本组合Chapter 13 Economic Dynamics and Integral Calculus/动态经济学与积分学，动态与积分，定积分/不定积分/广义积分，Domar增长模型Chapter 14 First Order Differential Equations/连续时间的一阶微分方程，市场价格的动态过程，恰当微分方程，非线性微分方程Solow增长模型Chapter 15 Higher Order Differential Equations/高阶微分方程，复数，三角函数，复数根，具有价格预期的市场模型、通货膨胀与失业模型Chapter 16 First Order Difference Equations/离散时间的一阶差分方程，均衡的动态性，蛛网模型，具有存货的市场模型，非线性差分方程Chapter 17 Higher Order Difference Equations/高阶差分方程，Samuelson数乘加速模型，通货膨胀与失业模型Chapter 18 Simultaneous Differential and Difference Equations/联立微分和差分方程动态投入产出模型Chapter 19 Linear Programming/线性规划，单纯形SimplexChapter 20 Linear programming - cont./线性规划（续），对偶定理，活动的微观和宏观水平Chapter 21 Non-Linear Programming/非线性规划，Kuhn-Tucker定理，约束规范，Arrow-Enthoven定理Chapter 22 Game Theory / 搏弈论Chapter 23 1st Seminarspetitive Equilibrium Hyperinflation under Rational Expectations, Also see epge.fgv.br/portal/arquivo/1792.pdf2.Multiple Equilibria with Externalities，Also see/depts/econ/dp/0409.pdfChapter 23 2nd Seminars1.Dynamic Analysis of a Solow-Romer model of endgenous Economical GrowthAlso see .au/policy/ftp/workpapr/ip-68.pdf2.Seignorage, Productive Government Spending and Growth in a Lucasian General Equilibrium Model Also see /economics/staff/hmk/paper/HMKAW96.PDFSupplemental Materials for a ChoiceChapter 51)Leontief, Wassily W. “Input-Output Economics.” Scientific American, October1951, pp.15-21.2)Iris Jensen ,The Leontief Open Production Model or Input-Output Analysis3)Internet Resources for the Leontief Model/mathews/n2003/leontiefmodel/LeontiefModelBib/Links/LeontiefMo delBib_lnk_1.htmlChapter 71)The Financial Returns to Education2)Why Does’t Capital Flow to Poor Counters?, See Robert E. Lucas,Jr., American EconomicView, V ol.80,No.2,pp.92 – 96, 1990(May)Chapter 81)Growth Accounting,Cobb-Douglas Production Function2)The Division of national IncomeChapter 111)Properties of a Valid Cost Function2)Government Revenue3)Isabel Correia and Pedro Teles,The Optimal Inflation Tax4)Jens Suedekum, Profit maximization and firm supply under perfect competition,University of Konstanz,Chapter 121)Dan Segal, A Multi-Product Cost Study of the U.S. Life Insurance Industry, RotmanSchool of Management,University of Toronto2)Martin Feldstein, “College Scholarship Rules and Private Savings”, American EconomicReview, Vol.85, No. 3,pp. 552 –566(June, 1995)Chapter 131)Economics Growth modelChapter 141)Charles I. Jones, A Note on the Closed-Form Solution of the Solow Model2)Fadhel Kaboub, Long-run Keynesian Growth Theory: Harrod and Domar vs.Solow Chapter 151)Tor Jacobson, Johan Lyhagen†, Rolf Larsson and MarianneNessén,Inflation, Exchange Rates and PPP in a Multivariate Panel Cointegration Model, Sveriges Riksbank Working Paper Series No. 145,December 20022)Pierre L. Siklos, INFLATION AND HYPERINFLATION, Department of EconomicsWilfrid Laurier UniversityChapter 161)Money and Prices Model2)Philip Cagan “The monetary Dynamics of Hyperinflation”, Studies in the Quanlity Theory ofMoney, ed., Milton Friedman (Univ. of Chicago Press, 1956)Chapter 171)Nicholas Rau,Introduction to Growth Theory, University College London2)Economic Problems of Developing AreasChapter 181)The Dynamic Variable Input-Output Model: An Advancement From The Leontief DynamicInput-Output Model,Annals of Regional Science, Vol. 34, No. 4, January 20012)Obst,N.M., “Stabilization Policy with an Inflation Adjustment Mechanism,” The Quarterly,Journal of Economics, 92 (May 1978), pp.355-359Chapter 191)Linear programming2)/otc/Guide/OptWeb/3)Global Optimization4)http://www.fi.uib.no/~antonych/glob.html5)Tom Cavalier's Optimization Links/faculty/t/m/tmc7/tmclinks.html6)Optimization Center at Northwestern Univ.7)/OTC/8)Yinyu ye at Stanfod9)/~yyye/Chapter 201)J. J. H. Forrest and J. A. Tomlin,Implementing the simplex method for the OptimizationSubroutine Library, IBM SYSTEMS JOURNAL, VOL 31,NO 1, 1992ATTENDANCESince exams will test your knowledge of materials covered in class, you are expected to attend class. You are responsible for material covered in class (including changes in assignment or rescheduling the test) even if you are unavoidably absent.GRADING POLICYYour final grade will be based on your performance on two exams and homework and it will be determined as follows:Mid exam 15%Final exam 60%Homework 15%Class participation 10%Total 100%Your total will be converted into final course grade and plus and minus grading will be used in this course.。

Summary:Section1 Basic economic ideas●All economies face the so-called economic problem of limited resources and unlimited wants.●Choice is necessary in order to decide what to produce, how to produce and for whom to produce.●Factors of production (land, labour, capital and enterprise) are essential for the production process.●Speacialisation allows more goods and services to be produced. Money facilitates speacialisation and exchange.●The true cost of choices we have to make is known as opportunity cost.● A production possibility curve is a representation of what can be produced in an economy and the trade-offsinvolved in making choices.●There are various types of economic system for the allocation of resources.Section2 The price system● A market exists whenever people come together for the trade or exchange of goods or services; it is alsopossible to identify sub-markets.●The buying side of the market is referred to by economists as the demand side. It is possible to derive a demandcurve for any market-this shows how the quantity which is demanded varies with the price of a product or services.●Consumer surplus arises because some consumers are willing to pay more than the given price for what theybuy.●The demand curve shifts to the left or right when, ”other things being equal”, the assumption is changed. Threeimportant causes of this are a change in income, a change in consumer tastes or attitudes and a change in the price of related products.●The selling side of the market is known as the supply side. It is possible to derive a supply curve for anymarket-this shows how the quantity which is supplied varies with the price of the product or service.●The supply curve shifts to the left or right when, “other things being equal,” the plans of suppliers. A change tothe equilibrium position will produce a new equilibrium price and quantity.●Elasticity is a very important concept in markets; it is the responsiveness of one economic variable following achange in another variable.●Price ,income and cross elasticity of demand are relevant numerical measures which have considerable valueand use in enhancing our understanding of how markets operate. The price elasticity of supply is relevant in understanding how producers can react in markets.Section3 Government intervention in the price system●Markets do not always operate as suggested by economic theory. There are various reasons why markets fail.●Where negative and positive externalities exist in a market, the outcome is an inappropriate level ofproduction.●Using cost-benefit analysis can be an important aid to decision making.●Merit and de-merit goods will not be provided in the right quantities by the market.●Public goods will not necessarily be provided by the market.●Government intervention can take various forms including regulation, financial intervention and directprovision of goods.●Financial intervention in the form of taxes and subsidies has been widely advocated for use in markets wherethere are negative and positive externalities.Section4 International trade●International trade is an essential and beneficial feature of the global economy of the twenty-first century.●The principle of absolute and comparative advantage can be used to show the benefits of free trade.●Tariffs, quotas, exchange control export subsidies distort the benefits of multi-lateral free trade for theworld economy; in certain circumstances, protection may be relevant especially for developing economies.●Increasingly, economic integration through the setting up of free trade areas and the European Union canbring benefits to the members of such organisations.●The terms of trade index measures the rate at which the goods of one country exchange for those ofanother.●The balance of payments is an important financial record of the international trading transactions ofcountry.Section5 Measurement in the macro-economy●The measurement of certain macroeconomic variables is important for economists to understanddifferences between various types of economy.●The labour force is an important economic resource; variations in both its size and participation rate canbe measured across different types of economies.●The productivity of labour has an important bearing on the living standards in an economy.●Unemployed labour is a resource which can be used to help an economy achieve its productive potential.●The cost of living in an economy can be measured by means of a weighted price index.Section6 Macroeconomic problems●All types of economy are concerned about problems of inflation, balance of payments disequilibrium andfluctuations in their exchange rates.●These problems have particular relevance and significance for developing countries.●Inflation is caused by monetary, cost and demand factors.●If unchecked, inflation affects the domestic and external well-being of a country.●Disequilibrium in the balance of payments of an economy is caused by a high propensity to import, a lackof confidence in an economy and an expansion in the domestic economy of a country.●This disequilibrium can have an adverse effect on the domestic economy and lead to a fall in the foreignexchange rate compared with major currencies.●There are three main types of exchange rate-nominal, real and trade weighted.●Exchange rates are crudely determined by the demand and supply of a foreign currency in internationalmarkets –under certain circumstances, the change in exchange rates may not occur or is managed between certain specified limits.●Exchange rates can depreciate or appreciate as a consequence of changes in demand or supply forcurrency.●Changing exchange rates affect import and export spending and the balance of payments of a country.Section7 policies to correct balance of payments disequilibria●Governments may find it necessary to use various policies to correct a balance of payments deficit orsurplus.●The use of these policies is necessary where a country has a managed exchange rate.●Such policies can have short-term detrimental effects upon the domestic economy.●From a longer-term standpoint , supply side policies can enhance a countr y’s competitiveness.。

Economics 2: The WorldEconomyReworkContentIntroduction----------------------------------------------------------------3 Section 1: International TradeThree gains from trading internationally---------------------------------------3 Free Trade--------------------------------------------------------------------------3 Absolute and Comparative Advantage-----------------------------------------3 Protectionism----------------------------------------------------------------------4 Barriers to trade-------------------------------------------------------------------4 WTO and EU----------------------------------------------------------------------5 Section 2: International FinanceBalance of Payments and General trends in UK Trade----------------------6 Relationship between the exchange rate and the balance of payments—14 Single Currency------------------------------------------------------------------15 Effects on individuals and business of the Euro-----------------------------15 Section 3: Less Developed Countries (LDCs)Characteristics of a LDC--------------------------------------------------------16 Current issues that face LDCs--------------------------------------------------16 The impacts of multinationals on LDCs and NICs--------------------------16 Conclusion-----------------------------------------------------------------16 References------------------------------------------------------------------17Introduction:As a member of the government of nation on the periphery of Europe, it is my obligation to illustrate the benefits of joining the EU to the Premier. In this report, I will analyze 15elements in next three parts to make a clear explanation of benefits of joining the EU.Section 1: International TradeThree gains from trading internationally:To begin with, the international trade could increase world out-put. The tendency of globalization brings the firms more opportunities to gain the labor, resources, contracts and new technology. The supply and demand will be improved with the improvement of company’s productivity.Once the supply has been improved, the goods and services were produced at lower cost and there are more and more competitions, the price of the product might fall which means consumers could get more choices and cheaper goods.In addition, the most important gaining of international trade is it can generate economic growth. Free trade could increase sales, profit margins, and market shares and the both demand and supply level has updated. Meanwhile, the producer needs more resources, labor and capital to produce more to satisfy the global market. It direct result in improving the material market, finance market, and may decline the unemployment rate.Free tradeFree trade is a concept that there is no barrier to goods and services exchanged between countries. Since different countries have different terrain, weather, resources and technology, the international trade would bring the goods which are more valuable than the local people produce it by themselves.A good example for free trade is in Nov.18, 2004, Chinese President and Chilean President declared the start of the FTA negotiations. According to the agreement, the two countries would start tariff reduction of goods trade from July 1, 2006. Tariff of products accounting for 97% of the total of the two countries would be zero in ten years. China and Chile would carry out free trade in education, science & technology, environment protection, labor, social security, IPR, investment and promotion, mineral and industry. This agreement has promoted the free trade between China and Chile successfully.Absolute and comparative advantageAbsolute advantage refers to the ability of a particular person or a country to produce a particular good with fewer resources than another person or country. Absolute advantage is said to occur when one country can produce a good or service topre-determined quality more cheaply than anther country. It stands contrasted with the concept of comparative advantage which refers to the ability to produce a particular good at a lower opportunity cost. Opportunity cost is defined as the cost of choosing a good or service measured in terms of the next best alternative given up. A country has a comparative advantage in producing a good if the opportunity cost of producing that good in term of other goods is lower in that country than it is in other countries. Example: Korea and Japan have following production possibilities for two commodities, mobile phones and computers; assume that all the resources owned bythe advantage it has is much greater for mobiles. Using the same resources as Korea it can make twice as many mobile phones.For Japan the ‘cost’ of 1 Mobile phone is 10 bales of Computers, i.e. 20000/2000For Korea it is 15, i.e. 15000/1000But if we look at the case of computers we will find that here for Japan the cost of a bale of computers is one-tenth of a Mobile phone while for Korea it is one fifteenth. In terms of the output of Mobile phone foregone (opportunity cost), computer is cheaper in Korea than Japan. Korea has a Comparative advantage in computer while Japan has comparative advantage in mobile phone.ProtectionismProtectionism is the economic policy of restraining trade between nations, through methods such as high tariffs on imported goods, restrictive quotas, a variety of restrictive government regulations designed to discourage imports and anti-dumping laws in an attempt to protect domestic industries in a particular nation from foreign take-over or competition.Here are two examples of protectionism:1: Britain imports bananas from its ex-colonies in South America while USA owns huge banana plantations in South America. In 1999 Britain refused to import bananas from South America, so the US government slapped tariffs on some British-made goods. The most serious one was a punitive tariff of 100% on Scottish wool products in order to limit the import from Britain.2: Another example of protectionism is in January, 2009, American government settled a policy that only the American steel can be used in America. The American government tended to use this policy to reduce the loss in financial crisis and it helps the steel workers to keep their jobs. In this example, protectionism protects the domestic lower-skilled labor and domestic industries.Barriers to tradeTo protect a country’s own industries, the country which in adverse side need to find some ways to be barriers to limit the import products, usually, the two methodsare—tariff and non tariffs.Tariff is taxes or customs duties placed on foreign products to artificially raise their prices and this hopefully, suppresses domestic demand for them. This tax may be ad value, that is, a percentage of the price of the goods or specific, that is, a tax per unit of weight or physical quantity.For example, in January 12, 2009 the Russian government raised the expropriation tariff (up to 30 percent) for the cars import in the next nine months. The import car’s price will be increased to be WP (price for the whole world) adds the tariff, since the price is increasing, the sales of the import cars must fall down. The customers might choose the Russian car instead of import cars since it is cheaper.Non-tariff barriers traditionally have been actions such Quotas, embargoes, exchange control and import deposits. Probably the best known of these is the quota. This is a physical limitation on the quantity of import. Quota is a physical limitation on the quantity of imports which had been acknowledged by local laws. Usually the importers need to apply to pay for a license to sell goods.For instance, Russia uses another method to limit foreign car import since 2008—to limit the quantity of import; only a few companies which have the import license could import cars and have a selling upper limit. Russia uses these methods to restrict the import quantity, and during the government limited foreign goods import, it can promote the domestic industries.WTO and EUIn 1948, the General Agreement on Tariffs and Trade (GATT) was established by the developed countries. In 1 Jan 1995, the GATT was supplanted by a new institution, the World Trade Organization (WTO) and aims to improve trade and investment flows around the world. It is an international body seeking to promote free trade by opening markets through the elimination of import tariffs. The organization administers trade agreements, monitors international trade policy and acts as a forum for trade negotiations. The four main goals of WTO are: freeing global trade through universally lowered tariffs, imposing the same rules on all members in order to homogenize the trade process, spurring competition through lowered subsidies, and ensuring the same trade concessions for all member nations. The WTO also provides technical assistance and training for developing countries. WTO aims for equal representation among members by granting each member country "most-favored nation" status; when a member country bestows a trade privilege on another nation, the privilege must be extended to all other member countries. Another tenet is "national treatment," which behooves countries to treat foreign imports equally with those produced domestically.The best example for joining the WTO is the join of China in 2007, after that, China achieves lots of benefits from the decrease of tariff, limitations and the simplification of trading procedures.EU stands for European Union and is an economic union, which aims to abolish tariffs and quotas among members, common tariff and quota system, restrictions onfactor movements and harmonization and unification of economic policies and institutions. It draws out regulations, monitors member states, solves disputes and problems among member states and negotiates with other countries or international organizations on the behalf of EU members. The European Union aims to promote and smooth free trade among internal European Union and initiatives for simplifying national and community rules include simpler legislation for the internal market (SLIM) and European Business Test Panel. For example, in Oct 16, 2009, EU and Korean government signed a free trade agreement of 100 billion US dollars after two years’ negotiation and EU will cancel the tariffs on imports of textile and cars from Korea in the next three years. This will promote the free trade of EU and have positive impact on the economy.Section 2: International FinanceBalance of Payments and General trends in UK TradeBalance of payment is the name given to the record of transactions between the residents of the country and the rest of the world over a period of time. It is a key economic statistics and UK’s Balance of Payments is comprises by the current account, the capital account, the financial account which deals with flow of direct portfolio and investments and reserve assets and the International Investment Position which shows the Stock of External Financial Assets and Liabilities. The chart below shows the composition if Balance of Payments in 2008:a) The current account can be divided into four categories: trade in goods, trade in service, income and current transfers. Positive net income from abroad corresponds to a current account surplus; negative net income from abroad corresponds to a current account deficit.Here are the trade figures of recent years:Here are the Current Account Balance Chart and the Chart of trade in Goods and services of UK in last 20 years.The current balance has usually been in deficit over the last 30 years.The UK has recorded a current account deficit in every year since 1984. Prior to 1984, the current account recorded a surplus in 1980 to 1983. From 1984 to 1989, the current account deficit increased steadily to reach a high of 25.5 billion pounds in 1989, equivalent to -4.9 per cent of Gross Domestic Product (GDP). From 1990 until 1997, the current account deficit declined to a low of 1.0 billion pounds in 1997. Between 1998 and 2006, the current account deficit widened sharply, peaking at 43.8 billion pounds in 2006. This was the highest recorded in cash terms but only equated to -3.3 per cent of GDP. In the past two years, there has been a reduction in the current account deficit –in 2008 it currently stands at 25.1 billion, equivalent to -1.7 per cent of GDP.It is obvious that UK had a large deficit in trade of goods in the last 30 years and the deficit becomes lager and increases greatly from 1998 to 2008 while the surplus of trade in service grows smoothly but not as markedly as the goods deficit. The trade in goods account recorded net surpluses in the years 1980 to 1982, largely as a result of growth in exports of North Sea oil. Since then however, the trade in goods account has remained in deficit. The deficit grew significantly in the late 1980s to reach a peak of 24.7 billion in 1989, before narrowing in the 1990s to levels of around 10 billion to 14 billion. In 1998 the deficit jumped by over 9 billion, and it has continued to rise since, reaching a cash record of 92.9 billion in 2008.There are two different of Income—Direct Investment Income and Portfolio Investment Income. The Direct Investment Income means the profits earned by UK companies from overseas branches and associated company. And the Portfolio Investment Income is the interest on bonds and dividends, held abroad by UK companies and residents.Here are charts of income over the 10 years:The income section has shown positive growth from 2006 to 2008 and is very much in surplus recently.As for the current transfer, it also has two different parts:The taxes, payments and receipts to the EU, Social Security Payments abroad, and military expenditure abroad is the Central Government Transfer. And for Other Sector Transfers, it includes receipts from the EU Social Fund, taxes on income and wealth paid by UK workers and businesses to foreign governments, insurance premiums and claims.There is the Chart of Current transfer in last 10 yearsThe transfers account has shown a deficit in every year since 1960. The deficit increased steadily to reach 4.8 billion in 1990. In 1991, the deficit reduced to 1.0 billion, reflecting 2.1 billion receipts from other countries towards the UK’s cost of the first Gulf conflict. The deficit has since increased, to reach a record 13.6 billion in 2008.b) Compared with Current Accounts, the composition of the Capital and Financial Account is more complicate.Capital Account has two categories:Capital transfer: It is investment grants by the government and debts which the government has agreed with the creditor do not need to be met.Acquisition and disposal of non produced/nonfinancial assets: Purchase or sales of property by foreign embassy or patents, copyrights, trademarks, franchises and leases.The capital account has shown strong steady surplus growth especially from the year of 2006 to 2008.The financial account has four categories and here are the charts of the four categories over the last ten years:According to these graphs, investment increased dramatically from the mid-1990s, reflecting the increased globalization of the world economy. Between 2000 and 2007, other investment dominated cross-border investment, primarily banking activity. In 2008 however, other investment, has recorded net disinvestment as the global financial crisis deepened leading to a reduction in loans internationally and a repatriation of deposits. In recent years, including the latest, the UK has needed to borrow from abroad to finance a continuing current account deficit, which has resulted in inward investment (UK liabilities) exceeding outward investment (UK assets).c) The international investment position is the balance sheet of the stock of external assets and liabilities. Between 1966 and 1994 the UK’s assets tended to exceed itsliabilities, by up to a record 86.4 billion pounds in 1986. But from 1995 to 2007, the UK recorded a net liability position in every year, reaching a record 352.6 billion pounds in 2006. In 2008, the UK returned to a net asset position of 92.9 billion pounds mainly due to exchange rate effects.The chart below indicates UK’s international investment position:Relationship between the exchange rate and the balance of paymentsThe exchange rate is the price of a currency in terms of other currencies. Its effect on balance of payments will depend upon its relationship with other currencies and how its value will change. As the currency weakens (devalues) the exports will become cheaper abroad but the country has to pay more for imports but the goods and services would become internationally cheaper and lead to more goods a services being purchased. If demand remains the same then the value of goods and services to the country will reduce and the current account balance may deteriorate. If the exchange rate rises then the country’s goods and services might suffer and demand from abroad could fall. If the demand remains the same however then the value of exports will rise and the current account balance should improve.For instance, when the UK market needs to import American goods (such as corns) the exchange market in UK would be the demand of U.S dollars is larger than the supply of UK pounds. If the American markets needs import more British goods, they need to exchange more pounds in the currency market, so the both of demand of US Dollar and supply of UK Pounds is increasing, meanwhile, the exchange rate of ￡/＄is increasing. UK pound is more valuable means the goods of UK are usually more expensive and American people need to spend more US dollars compared to thesame amount of pounds. That is why the currency exchange rate is so important for the balance of payments. For example, if the exchange rate of ￡/＄is increasing, the American business man might not choose UK goods, because of the high price. Single CurrencyEuropean single currency Euro came to exist since 1999. There are 12 member states of EU who use Euro while UK is still not one of the members since there are both advantages and disadvantages to join it.Advantages:At firstly, the single currency reduces the exchange rate uncertainty because people don't have to convert money from one currency to another when purchase goods. Meanwhile, using the single currency will increase foreign investment such as direct inward investment since the reduction of uncertainty. Then it may produce a great transparency. Whether people buy or sell goods, consumers can compare price in a single currency. It will help to decrease the scope for price discriminations and create pressure to lower the price. Moreover, it could maintain interest rate lower and the commitment to low inflation should allow economies to operate with lower cost. Disadvantages:A country may lose the independent monetary policy if it joins the single currency. The single currency forces a country to forgo an independent monetary policy. After the single currency has been used, the country's monetary policy will determined by the supranational central bank and not by the domestic central bank. This is why the theory of optimal currency areas emphasizes the importance of flexible prices, labor mobility and fiscal transfers. Flexible prices and labor mobility become more important when a currency union exists; governments have an incentive to make markets work more efficiently.Besides, there are also political costs to the country. If the government loses control over monetary policy to the supranational central bank, politicians are limited to using fiscal policy to influence economy.Effects on individuals and business of the EuroAs for the individuals,they can get lower prices and higher quality goods and services when they have more choices due to increased competition among companies through the Euro zones; they can measure the good price through Europe and choose the best one. In addition, single currency reduces the transaction costs of traveling in Europe. Individuals could travel more frequently than past since it is more convenient and cheaper. People do not need to concern the exchange rate and commission fee when visiting the other countries in Europe.As for the business, people could avoid the exchange rate risk and traders do not need to waste time and cost on purchasing foreign currencies. Moreover, the business market could be expanded there are more opportunities.Section 3: Less Developed Countries (LDCs) Characteristics of a LDCLess Developed Countries (LDCs) mainly exist in Asia and Africa. Most LDCs’subsistence is agriculture. The land of LDCs is very ineffectively used and is very low in productivity, there are normally no modern techniques or equipment available, and the land is always threatened by floods or droughts. The birth rates in LDCs are very high but there is very heavy infant mortality since the health care system is poor.A good example for LDC is Angola. A 2007 survey concluded that low and deficient niacin status was common in Angola. Many regions in this country have high incidence rates of tuberculosis and high HIV prevalence rates. Angola has one of the highest infant mortality rates in the world and one of the world's lowest life expectancies.Current issues that face LDCsThe World Bank offers aid programs to Angola to support the health care system of Angola to reduce the infections of HIV but the aid programs they get from the World Bank of IMF carry conditions which they feel are difficult to comply with, and are expensive.Besides, the indebtedness of Angola keeps increasing year on year. This makes Angola almost impossible to borrow more.They borrow a huge amount of money to develop their economy, purchase foreign goods and service. However, the high interest or other factors make debts become a great stress on LDCs. They are in the trip of debts, which prevent the development of their economy.The impacts of multinationals on LDCs and NICsNow days, there are more and more multi-national firms which have branches in various countries since it can reduce the labor, material, transport cost. Companies from newly industrialized countries tend to be MNCs. A good example for multinationals on NICs and LDCs is Great Wall Computer Corporation from China. This company invests 120 million dollars to build a new factory in Algeria to expand its market and increase 34 percent of its foreign sale income. The company offers more jobs to the people in Algeria thus increase the employment and income of Algerian. The company also brings new technology to this less developed country. However, the company transfers most of profits back to China and uses their financial strength to impose their will in host counties either.ConclusionAfter analyzing these 15 elements, you may have a clear acknowledge of the international trade, finance and LDCs and as for the economic environment of the whole area, it can be benefit to join the EU. It will enhance our country’s economic growth by attracting more free capital, using single currency and enlarge the market.References:Web research:/downloads/theme_economy/PB09.pdfRelated Web sites /wiki/Protectionism/eurocash.asp/Book resource:The Economics 2: The World Economy: Higher National Diploma. Scottish Qualifications AuthorityUnited Kingdom Balance of Payments the Pink Book 2009: Office for National Statistics。

综合学术英语教程2 谜底之迟辟智美创作Unit 1 Multidisciplinary EducationKeys to the ExercisesApproaching the Topic1. 1) The aim of college education is to produce individuals who are well on their way to becomeexperts in their field of interest.2) The growing importance of producing professionals who have the skills to work with peoplefrom a diverse set of disciplines.3) First, through an interdisciplinary approach; Second, through a multidisciplinary approach.4) College education should produce individuals who may later become expert who areinterdisciplinary problem solvers.2. 1) f2) d3) a4) e5) g6) m7) j8) k9) l10) i 11) b12) h13) c4. (1) offered (2) stresses (3) ability (4) different (5) approach(6) increasingly (7) graduates (8) enter (9) positions (10) Employment6. 1) Multidisciplinary studies.2) They both believe that current college education should layemphasis on multidisciplinarystudies, which is a prerequisite to producing future expert who are interdisciplinary problemsolvers.3) Open.4) Open.5) Open.Reading about the Topic3. 1) The students have brought to MIT their individual gifts, such as their own intellect, energy,ideas, aspirations, distinctive life experience and point of view, etc.2) They represent the geographic and symbolic center of MIT.3) Names of intellectual giants.4) Leonardo da Vinci was a painter, scientist, engineer, sculptor, inventor, city planner andarchitect.4.Set 1: 1) c2) e3) d4) h5) a6) g7) f8) bSet 2: 1) e2) a3) h4) b5) c6) f7) d8) g5.(b) Para. A (b) Para. B (a) Para. C (c) Para. D(f) Para. E (e) Para. F (d) Para. G (g) Para. A6. 1) Because for him, the simplicity he appreciated in naturebecame his ultimate standard indesign.2) First was da Vinci’s complete disregard for the accepted boundaries between different f ieldsof knowledge. The second facet of da Vinci’s character was his respect for and fascinationwith nature. The third quality of da Vinci’s character was an enthusiastic demand forhands-on making, designing, practicing and testing, and for solving problems in the real world.3)“There is a good chance that you will never again live and work in a community with as manydifferent cultu res and backgrounds as MIT.”(Para. F)4) Because by doing so, the students can engage themselves in new intellectual adventures so as touse their time at MIT to its fullest potential.5) It means that “They took the initiative to search for the deepest answers, instead of sitting backand letting things happen to them.”7. Set 1: 1) h2) d3) a4) g5) f6) e7) b8) cSet 2: 1) c2) g3) d4) a5) h6) f7) e8) b8. 1) She wanted to describe for the new students three of hischaracteristics that particularly f itwith the value of MIT.2) Because by doing so, the students can encounter the most stimulating minds and inspiringrole models, experience a life in a community with diversif ied cultures and backgrounds andparticipate in various new intellectual adventures, so that they can get the most out of theirMIT education.3) The three of Da Vinci’s characteristics will be the heritage of MIT to be inherited by thestudents. She hoped that the new students would follow Da Vinci as well as a great manyextraordinary MIT teachers as their role models to use their time to its fullest potential.4) Multidisciplinary thinking is a mode of thinking that goes beyond disciplinary boundaries inorder to gain new ideas and fresh perspectives.9. 1) Human ingenuity will never devise any inventions more beautiful, nor more simple, nor moreto the purpose than Nature does. (Para. A)2) For Da Vinci, the simplicity he appreciated in Naturebecame his ultimate standard in design.(Para. B)3) Be as determined in your curiosity as Leonardo da Vinci —and you will use your time atMIT to its fullest potential. (Para. F)4) MIT is a place of practical optimism and of passionate engagement with the most importantproblems of the world. (Para. G)5) I had long since observed that people of accomplishment rarely sat back and let thingshappen to them. (Para. H)10. Many scientists and engineers at MIT pursue simplicity in their design and development oftechnologies.Exploring the Topic4. 1) It is believed that a multidisciplinary approach to scientific education is of vital importance.2) Second, a multidisciplinary emphasis is believed to be a prerequisite to training individuals.3) It cannot be denied that these f irms are participating in turning out the future thinkers.4) How about examining our problems about science andtechnology from a liberal artsperspective.5) Surprisingly, however, our universities and colleges fail to switch from the conventionaldivisions and departmental sections to daily extracurricular multidisciplinary work.5. Reading 1 begins with a contrast —“College education has always had the responsibility to ...However, ... we also see the growing importance of producing ...”. The introduction of Reading2 is informative as well as interesting, which arouses the readers’ interest to go on reading.Integrated Exercises2. (1) ultimate (2) spirit (3) feed (4) approach (5) property (6) represent(7) discipline (8) aspiration (9) inspire (10) perspective (11) inherit (12) generate3.(1) inspiring (2) generation (3) collaborative (4) aspiring (5) Intelligent(6) inherit (7) celebrity (8) speculated (9) representative (10) anatomical4. (1) D(2) A(3) C(4) B(5) D(6) A(7) B(8) C (9) A(10) C5. (1) Many celebrated researchers around the world are collaborating to develop a new vaccine.(2) The scientists’ experiment generated an unexpected outcome.(3) If the systems are restructured, their effectiveness will be ultimately integrated into theglobal economy.(4) The doctors speculate that he died of a stroke caused by a blow on the head.(5) The murder trial attracted considerable public attention.(6) The aspiration for college education inspires people in remote areas to work hard.(7) He inherited his parents’ fortune after their death.(8) He disregarded his father’s advice and left college.(9) In this address, he asked the youngsters, who embody the spirits of the nation, to join thecampaign.(10) The special diet incorporates many different fruits and vegetables.7. (1) Whoever run the red light shows a complete disregard for public safety.(2) Success, as he explained, was nothing more than a consistent pursuit of art and good luck.(3) The new product has benef ited from research work at the crossroads between biological andmedical studies.(4)It was amazing that his idea echoed well the great philosopher’s belief, which he claimed notto have heard about before.(5) The one-month intense training program prepared the team members well for possibleemergencies.(6) The audience was deeply impressed with the vigor and power of the speech delivered by theenvironmentalist.(7) This traveling experience will provide you with a rareopportunity to sample a different way oflife.(8) Using the limited time to its fullest potential is one of the must-have/required skills in adaptingto the fast-paced modern life.(9) More and more countries are bringing robots to bear on their various problems.(10) These students are encouraged from a very early age to follow their own boundless interestswell beyond the boundaries of conventional belief in obedient learning.8.A. (1) B(2) C(3) B(4) B(5) DB. As multidisciplinary design has become a trend in the industry, there is a need for moreemphasis on multidisciplinary perspectives. Educational institutions should take their role intraining individuals who can function in a collaborative environment and be prepared to facemultifaceted projects that they may not have been exposed to. However, our universities andcolleges fail to shift from traditional divisions anddepartmental sections to multidisciplinarywork being practiced on a daily basis outside the classroom.C. 1) F2) T3) F4) T5) TD. (1) what learning is about (2) be inquisitive (3) learn a new subject(4) analyze a new problem (5) teacher-taught (6) master-inspired(7) self-learner (8) the trap of dogma (9) no single simple answer(10) black and white (11) critical thinking (12) tolerant and supportive(13) a new thesis topic (14) flexibility (15) style of leadershipUnit 2 The Scientific MethodKeys to the ExercisesApproaching the Topic1. 1) The Scientific Method is a body of techniques for investigating phenomena and acquiringknowledge, as well as correcting/integrating previous knowledge. It involves gatheringobservable, empirical and measurable evidence, the collection of data through observationand experimentation, and the formulation and testing ofhypotheses.2)Scientists put forward hypotheses to explain what is observed. They then conduct experimentsto test these hypotheses. The steps taken in the experiment must be capable of replication andthe results emerge as the same. What is discovered may lead toa new hypothesis.3) Scientists are human and can be unintentionally biased; total objectivity is impossible.4) Scientists are human and can be unintentionally biased. Science uses our senses and our sensescan be mistaken. We can never understand something as it really is because our very presenceaffects what is being studied.5) ① Science is both a body of knowledge and a process.② Science is exciting.③ Science is useful.④ Science is ongoing.⑤ Science is reliable.⑥ Science is a community endeavor.2. 1) c2) g3) e4) f5) a6) d7) h8) k9) b10) i 11) j4. (1) aspects (2) process (3) satisfy (4) technologies (5) puzzle (6) collection (7) evidence (8) ensure (9) diversity (10) professional6. 1) Science.2) It brings to mind many different pictures: white lab coats and microscopes, a scientist peeringthrough a telescope, the launch of the space shuttle, and so on.3) Science can discover the laws to understand the order of nature.4) Because it relies on a systems of checks and balances, which helps ensure that science movestowards greater accuracy and understanding, and this system is facilitated by diversity withinthe scientific community, which offers a range of perspectives on scientific ideas.5) Open.Reading about the Topic3. 1) The modern scientific method is characterized by confirmations and observations which“verified”the theori es in question, but some genuinely testable theories, when found to befalse, are still upheld by their admirers, which rescues thetheory from refutation only at theprice of destroying, or at least lowering, its scientific status. 2) A theory which is not refutable by any conceivable event is non-scientific.3) Their theories were constantly verified by their clinical observations. They always fitted andwere always confirmed.4) Light must be attracted by heavy bodies (such as the sun).5) There is the risk involved in a prediction: the theory is incompatible with certain possibleresults of observation — in fact with results which everybody before Einstein would haveexpected.4. Set 1: 1) c2) a3) d4) b5) f6) e7) h8) gSet 2: 1) b2) e3) a4) f5) d6) c7) h8) g5. Para. A (b) Para. B (c) Para. C (e)Para. D (e) Para. E (a) Para. F (d)6. 1) Observations, hypotheses, and deductions, then conclusions.2) You will need to research everything that you can f ind about the problem.3) You shouldn’t change the hypothesis. Instead, try to explainwhat might have been wrongwith your original hypothesis.4) An important thing to remember during this stage of the scientific method is that once youdevelop a h ypothesis and a prediction, you shouldn’t change it, even if the results of yourexperiment show that you were wrong.5) Because there is a chance that you made a miscue somewhere along the way.7. Set 1: 1) c2) a3) d4) b5) f6) e7) h8) gSet 2: 1) e2) g3) a4) f5) c6) b7) d8) h8. 1) Observation, as the f irst stage of the scientific method, is a way of collecting informationfrom any possible sources, which can serve as a foundation in verifying a theory. In thisprocess, one should expect an event which could refute the theory. Only through beingrefuted by new observations which are incompatible with the theory could it be falsified,which ref lects its truescientific virtue.2) A hypothesis is a possible solution to a problem, based onknowledge and research, while atheory is a hypothesis confirmed by the research findings. Every theory cannot be applied toevery situation; otherwise, it is not a good theory.3) It is always possible to verify nearly every theory, but that would rescue the theory fromrefutation at the price of destroying, or at least lowering its scientific status.4) To falsify a theory is more valuable, because a theory which is not refutable by any conceivableevent is non-scientific.9. 1) Because of this personal experience and an interest in the problem, you decide to learn moreabout what makes plants grow. (Para. B)2) The experiment that you will design is done to test the hypothesis. (Para. D)3) Through informal, exploratory observations of plants in a garden, those with more sunlightappear to grow bigger. (Para. H)4) The judges at your science fair will not take points off simply because your results don’tmatch up with your hypothesis. (Para. K)5) You cannot prove the hypothesis with a single experiment, because there is a chance that youmade a miscue somewhere along the way. (Para. Q)10. Observation, the initial stage of the research, requires a thorough understanding of a researchproject you have chosen by collecting adequate information from various sources, and isfollowed by the next stage known as hypothesis, an uncomplicated statement that defineswhat you think the outcome of your experiment will be. Exploring the Topic4. 1) Science does not include explanations based on no empirical evidence.2) The human nature of science, however, renders it unlikely to be free of personal prejudices,misapprehensions, and bias.3) The scope of science encompasses the whole universe and natural world.4) Science is a process of deciding whether the acquired evidence may prove what is mostlikely to be correct currently.5) It is not possible to prove a hypothesis with a singleexperiment, as chances are that amistake was made somewhere in the process.Integrated Exercises2. (1) additional (2) illustrate (3) interpret (4) conduct (5) previous (6) involve(7) design (8) verify (9) reflect (10) collect (11) research(12) support3.(1) methodical (2) commitment (3) achievable (4) assume (5) illogical(6) exposure (7) constitutive (8) emphatic (9) confirmation (10) identity4. (1) A(2) B(3) A(4) D(5) A(6) B(7) C(8) A(9) D(10) B5. (1) This observation motivated Newton to develop a theory of gravity.(2) Other scholars attempt to approach the subject from an economical perspective.(3) Participating in the activity will provide one with an initial taste of the objectives ofsociology.(4) Scientists insisted there was a rational explanation for the strange phenomenon.(5) To most young people, higher education is nothing but a process of acquiring knowledge.(6) The study demonstrates the necessity of taking a much broader view in the matter.(7) The new car’s design successfully integrates art and technology.(8) China actually encountered the identical stages of its development in the early 1990s to theWest.(9) The virus can spread to a document or application between computers and render thecomputer useless.(10) If the sustainable development of small economies is facilitated, their effectiveness will beultimately integrated into the global economy.7. 1) We could not attend a conference without hearing some talks about change and challenge.2) Things seem highly optimistic in the light of numerous reports, especially from countrydistricts.3) I am in favor of the argument that urbanization should be controlled properly.4) Something slowly began to dawn on me —I still loved what I did.5) My computer does not work because it was rendered paralyzed by some viruses.6) Experts are working on the plan in question. And they’ll come to an answer.7) A national curriculum framework is logically incompatible with pupil-centered learning.8) For many women success is often achieved at the price of their married life.9) Many attempts had been made before I successfully entereda key university.10) There is a good chance that it will turn fine tomorrow.8. A. (1) B(2) A(3) C(4) A(5) BB. Understanding scientific method is critical to your scientific endeavor. The scientificmethod is a series of steps that serve as guidelines for scientific efforts, and a tool thathelps scientists solve problems and determine answers to questions in a logical format.There are two forms of scientific method: the experimental method and the descriptivemethod. The former employs numerical data and graphs, used in physical sciences, whilethe latter gathers Information through visual observation and interviewing, employed inzoology and anthropology. The scientific method involves five steps, namely, identifying aproblem, researching the problem, formulating a hypothesis, conducting an experiment andreaching a conclusion.C. (1) The process of science, in contrast to the linear steps of the simplified scientific method,is iterative.(2) Science circles back on itself so that useful ideas are built upon and used to learn evenmore about the natural world.(3) Gregor Mendel showed that inheritance is particulate that information is passed along indiscrete packets that cannot be diluted.(4) Any point in the process leads to many possible next steps, and where that next stepleads could be a surprise.(5) Science may involve many different people engaged in all sorts of different activities indifferent orders and at different points in time.D. (1) natural world (2) investigations (3) basic question(4) information (5) Experiments (6) detailed understanding (7) built upon (8) deepen and extend (9) in the process(10) testing (11) observation (12) new direction(13) in different orders (14) represent (15) less importantUnit 3 A ncient China’s Contribution to ScienceKeys to the ExercisesApproaching the Topic1. 1) Needham is the world’s famous Sinologist and author of Science and Civilization inChina.2) The European people just take these inventions for granted. All originated in China buthave long since been adopted by the West.3) They helped to inspire the European agricultural and industrial revolutions.4) It has won five literary awards in America and been translated into 43 languages.5) His book, The Spirit of Chinese Invention, was approved by the Chinese Ministry ofEducation for use in connection with the national secondary curriculum in China.2. 1) f 2) k 3) c 4) a 5) o 6) n 7) g8) e9) d10) m 11) i12) h13) j14) l15) b4. (1) credit (2) considerable (3) befriended (4) breakthroughs(5) thoroughly(6) flown (7) academic (8) embark (9) suggested (10) staff 6. 1) The overlooked great breakthroughs in ancient China. 2)Dr. Needham argued that a proper book on the history of Chinese science and technologywould have a wide bearing on the general history of thought and ideas.3) He helped to bring due credit to China’s overlooked contribution to scientific innovation.4) Yes, he does. Because he believed that a proper popular book would have a wide bearing onthe general history of thoughts and ideas, which could not be possible if the book was tooacademic.Reading about the Topic3. 1) Both Westerners and Chinese people are ignorant of the fact that the West imported a lot ofinventions from ancient China.2) Because more than half of the basic inventions and discoveries upon which the“modernworld”rests come from China.3) Because they take many great achievements for granted, and even the Chinese themselveslost sight of the truth, so their western inheritors wouldn’t trouble themselves to know thetruth.4) Because it is always more satisfying to the ego to think that they have reached theirpresent position alone and unaided, and that they are theproud masters of all abilities andall crafts.4. Set 1: 1) d2) e3) a4) b5) c6) g7) f8) hSet 2: 1) d2) g3) e4) h5) b6) a7) c8) f5. Para. A (e)Para. B (b)Para. C (f)Para. D (a)Para. E(a)Para. F (a) Para. G (c) Para. H (g) Para. I (h) Para. J(d)6. 1) The three inventions transform-ed completely the modern world and mark-ed it off fromthe ancient and the Middle Ages.2) The European agricultural revolution, which laid the basis for the Industrial Revolution,came about only because of the importation of Chinese ideas and inventions.3) The truth that half of the basic inventions and discoveries originated from China needs tobe imparted to schoolchildren. The purpose is to let them know the truth and then tobridge the chasm between the East and the West.4) The bureaucratic organization of China in its earlier stages strongly helped science togrow; only in its later ones did it inhibit further growth, and in particular prevented abreakthrough which has occurred in Europe.5) The author points out the reasons why China was developed in the past but backward atpresent and why the West was underdeveloped in the past but advanced at present.7. Set 1: 1) c2) g3) h4) b5) f6) d7) a8) eSet 2: 1) c2) d3) g4) e5) a6) b7) f8) h8. 1) The two readings both list a series of great inventions and discoveries that originated inancient China. Reading 1 tends to be factual, while Reading 2 is more critical of the factthat the Chinese are ignorant of their ancient achievements and the Westerners simply takethem for granted.2) The argument in Reading 2 is more reasonable and acceptable since the author uses a lot ofexamples and examines the question from both the Chinese and Western perspectives toillustrate his point.3) Reading 2 holds more obvious negative attitudes towardsWesterners.4) It would be better if the nations and the peoples of the world had a clearer understandingof each other, allowing the mental gap between East and West to be bridged. (Reading 2)The discoveries and inventions made in Europe in the seventeenth century and thereafterdepended so much in so many cases on centuries of previous Chinese progress in science,technology and medicine. (Reading 3)9. 1) He regarded the origins of these inventions as “obscure”and he died without everknowing that all of them were Chinese. (Para. B)2) Chauvinistic Westerners, of course, always try to minimize the indebtedness of Europe toChina in the ancient and the Middle Ages, but often the circumstantial evidence iscompelling. (Para. C)3) In many cases we simply cannot identify the channels through which knowledge wasconveyed from East to West. (Para. C)4) Modern science which developed in the seventeenthcentury was a mathematization ofhypotheses about nature, combined with experimentation. (Para. D)5) One factor which must have great relevance here is the circumstance that the feudalism ofEurope and China were fundamentally different. (Para. E) 10.The feudalism of China differed greatly from that of Europe in that its bureaucraticorganization promoted the growth of science in ancient China but inhibited its furtherdevelopment later on.Exploring the Topic4. 1) Increasingly being bewitched by the advanced European technology, the Chinese haveforgotten their own achievements.2) A book like that would be absolutely non-academic; it would nevertheless have afar-reaching influence on the general history of thought and ideas.3) The lesson to be drawn from the history of agriculture can best illustrate the ignorance ofthe egoistic westerners.4) The Chinese and Westerners are equally surprised when they realize that modernagriculture, modern shipping and even the essential design of the steam engine alloriginated from China.5) A clear understanding among the nations and the peoples of the world would be welcomedto bridge the gap between East and West.5. 2) The deafening noise, and the glare of the engine fire, would have a bad effect on nerves.Further, being moved through the air at a high speed would do great injury to delicatelungs. The sudden plunging of a train into the darkness of a tunnel, and the equally suddenrush into full daylight, would cause great damage to the eyesight.3) What was it that enabled them to become great or successful? Were they born withsomething special? Or did their greatness have more to do with timing, devotion and,perhaps, an uncompromising personality? The answer is a never surrender attitude. If greatachievers share anything, it is an unrelenting drive to succeed. There is a tendency to thinkthat they are endowed with something super-normal. Integrated Exercises2. (1) insight (2) expertise (3) obscure (4) backward(5) undertake (6) ignorant (7) acknowledge (8) essential (9) minimize (10) shatter (11) fading (12) illustration3.(1) insightful (2) transformation (3) respectively (4) dazzling(5) resurgent(6) indebted (7) backwards (8) irrelevant (9) unparalleled (10) illusionary4. (1) C(2) D(3) A(4) B(5) A(6) A(7) C(8) D (9) B(10) D5. (1) Examples will be drawn from literature and popular media to illustrate the range ofleadership and non-leadership behaviors and competencies.(2) You’ll never be able to eliminate interruptions altogether but you can do a lot to minimizethem.(3) There is evidence that the movie reinforces negative stereotypes about women.(4) The violence to property will do nothing to facilitate that investigation.(5) Determination and effort enable-d the young man to acquire success.(6) The project was held back by budget restraints.(7) We will continue to press governments in the region to undertake political reforms.(8) This level of economic growth is unprecedented and unique.(9) This policy could isolate the country from the other permanent members of the UnitedNations Security Council.(10) The profound economic effect would accumulate day by day, and much of it might bereversible.7. (1) It must be realized that China experienced a great transformation in the last century.(2) However, it is rather questionable whether the majority of Americans know the truthabout China and Chinese people.(3) All of the information can be conveyed by simple graphs.(4) It is essential that our children absorb this lesson into their outlook on the world.(5) It is a lesson that all of us should take to heart.(6) We must never lose sight of the fact that many inventions originated in China.(7) Many of us take it for granted that technology is the top priority in economicdevelopment.(8) How was it that you had the right information at the right place and at the right time?(9) I can think of no better illustration of the importance of higher education than the fact thatmany university graduates have become the leaders in various f ields.(10) The demand for a raise ref lects as much a desire for the recognition of their success asfor more money.8. A. (1) C(2) B(3) D(4) D(5) CB. China’s ancient great inventions and discoveries, as the forerunners of some of themodern technologies, both enhance the quality of human life and change Chinese historyof science. The most signif icant ones are papermaking, gunpowder, compass and printing.Paper, one of the most widely used and indispensable materials, led to subsequentinnovations like paper currency, woodblock printing and ceramic movable type printing.The most important invention of gunpowder triggered a series of related discoveries likefireworks, land mine-s，naval mine-s, exploding cannonballs, multistage rocket-s, etc. The。