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Innovation in Learning
TM
BUSINESS ISSUES
1 Warm-up
How has your company been affected by the global economic crisis?
2 Key words
Complete the sentences below:
bailout interest rates bargaining position mortgage downturn recession freefall reluctant
1. The country's economy is less successful. There is an economic 2. Business activity has declined for two consecutive quarters. We are officially in a
. .
3. Many firms are interested in hiring him so he can negotiate high salaries with potential employers. He . is in a strong 4. Most people take out a 5. Housing prices are in 6. The chairman is 7. The central bank lowered its from the bank in order to buy their first home. - flats and houses are rapidly and continuously losing value. to hire new staff due to his company's financial difficulties. by 2% in order to stimulate the economy.
8. After asking for financial help from the government due to huge losses, the bank received a of $100 billion.
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Innovation in Learning
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BUSINESS ISSUES
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Innovation in Learning
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BUSINESS ISSUES
4 Checking understanding
Explain how the following people in Britain are being affected by the crisis according to the article: 1. employees 4. shoppers 2. first-time home buyers 5. investors 6. the government 3. home owners 7. pensioners
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Innovation in Learning
TM
BUSINESS ISSUES
Now match the following sentences from the text with the correct rule below: 1. ... the market will have shown signs of recovery by early next year. 2. As fewer people buy houses and unemployment continues to rise, the Government will be getting less money from taxes. a. We use the future continuous to say that something will be in progress at time in the future. b. We use the future perfect to say that something will be complete before a specific time in the future. Complete the sentences below with a suitable word or structure from this exercise: 1. As long as housing prices continue to fall, it property for the asking price. 2. Experts that next year become more difficult for us to sell our be a difficult year.
3. China to continue its strong economic growth. It overtaken the USA by 2017. 4. The country's standard of living to improve as its economy grows. 5. Next month, Andrew experience he 6. "What do you think you somewhere hot and sunny." to start looking for a new job. However, because of his lack of to be offered a very high salary. doing in ten years' time?" "Hopefully, I living to start by the end
7. The construction of the new shopping and entertainment complex to create many new jobs. of next year. It 8. Scientists years' time. that global warning
We are on the verge of an economic crisis. Paul's manager is on the point of giving him the sack. We are close to finalising the new deal. The president is about to make a speech to the nation. Scientists are on the brink of an important new discovery.
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Innovation in Learning
TM
BUSINESS ISSUES
For each of the situations below, predict the immediate future using the phrases from this exercise. Use a different phrase each time. Example: Natalie has been under a lot of stress recently. She is likely to have a nervous breakdown very soon. Natalie is on the brink of a nervous breakdown. 1. The Yangtze river dolphin, one of the rarest mammals in the world, is going to become extinct very soon due to overfishing. 2. The political leaders are likely to agree very soon on a new economic strategy to deal with the current crisis. 3. Scientists are likely to discover a cure for the disease in the very near future. 4. The election is almost over. She is in the lead and will very soon become the country's first female president. 5. The negotiations were successful. We will soon sign a very profitable new contract. 6. The financial preparations are finally over. We will become a public company very soon. 7. After a long and difficult marriage, the couple will be divorced very soon. 8. Are we going to have a global energy crisis very soon? 9. A new film is going to be released in the cinema very soon. 10. It is nearly the end of the match. Our team is likely to become the world champions very soon.
By Christmas the number without jobs is expected to top two million. The market is unlikely to start recovering until early next year. By next year it is likely to reach three million.
Julia is very talented. She is bound to have a successful career. The criminal was found guilty of robbing a bank. He is certain to go to prison.
1.is certain to
It will definitely or almost definitely happen: 2. It will very probably happen: It will probably happen: It will probably not happen: 3. 4. 5.
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Innovation in Learning
TM
BUSINESS ISSUES
9 Speaking
In pairs, discuss the following: 1. three things you will be doing this time next year 2. three things you will have done by 2015 3. one certain, one likely and one unlikely future prediction about your country 4. three things you think are going to happen very soon
10 Talking point
Was your country affected by the crisis in a similar way to Britain in 2008? What kind of predictions were made? Have they come true?
11 Self-study review
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Innovation in Learning
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BUSINESS ISSUES
1- Warm-up Encourage a short discussion. Possible effects of the crisis might include the implementation of cost-cutting measures, restructuring, a slowdown in financial growth, etc. If the students' companies have not been affected, have them explain why not. Alternatively, for students who are not in work, ask how the crisis is affecting businesses in general. 2- Key words
1. downturn 5. freefall
3- Find the information
2. recession 6. reluctant
4. mortgage 8. bailout
4. 15,600
1. 2. 3. 4. 5.
Employees' pay rises are lower than normal, and it is not easy for them to negotiate better salaries. It is nearly impossible to take out a mortgage with less than a 10% deposit. Homes are more difficult to sell, and are sold at an average of 9% below asking price. Shoppers are short of cash and reluctant to spend. In the short term investors will not be able to profit their shares. In the long-run, however, they will be able to earn decent returns. 6. The government will be getting less money from taxes and will need to finance the bailout. 7. Pensioners already drawing their pensions will be unaffected by the crisis.
1. anxiously 5. volatile
2. top 6. gains
3. inflation 7. recoup
1. c 1. b 2. a 1. 2. 3. 4. 5. 6. 7. 8. 9.
2. d
3. f
4. e
5. b
6. a
Possible answers:
will warn/predict/forecast; will/could is expected/likely; will have is expected/likely is going to;is unlikely 'll be; 'll be is expected/likely; is going/expected/likely predict/forecast/warn; will/could will have; is likely/expected
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Innovation in Learning
TM
BUSINESS ISSUES
7- Predicting the immediate future Draw attention to how each structure is used: `on the verge/point/brink of + -ing/noun', `close to + -ing', `about to + infinitive'. Encourage the students to change key verbs to nouns or the gerund form where necessary. Possible answers:
1. The Yangtze river dolphin is on the verge of extinction/becoming extinct. 2. The political leaders are close to agreeing on a new economic strategy to deal with the current crisis. 3. Scientists are on the brink of discovering a cure for the disease. 4. She is on the point of becoming the country's first female president. 5. We are close to signing a very profitable new contract. 6. We are on the verge of becoming a public company. 7. After a long and difficult marriage, the couple are on the point of divorce. 8. Are we on the verge of a global energy crisis? 9. A new film is about to be released in the cinema. 10. Our team is on the point of becoming world champions.
8- Predicting certain future
2. is bound to
9- Speaking
3. is expected to
4. is likely to
5. is unlikely to
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