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Matching Quiz

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Wordwall - Cree mejores lecciones de forma más rápida

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Slash - Reduce, Boost - Increase, push, Unprecedent - Never done before, Stockpile - Accumulate materials held in reserve, Global capital - All countries´ wealth, Industrial production - Output of the industrial sector, Investment - Monetary asset purchased, Slump sharply - Tumble rapidly, Recession - A period of economic decline, Supply - Provide, Halt - Abrupt stop of an activity, Safe Heaven - A place of refuge or security, Hit - To have a negative impact on something, Rate - Amount or degree, Allocation - To assign a resource to a recipient, Layoffs - Discharges of workers, Liquidity - Cash available for spending, Disruption - Disturbance that interrupts a process,

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Economy Vocabulary Revision - Levels C1/C2

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Slash - Reduce, Boost - Increase, push, Unprecedent - Never done before, Stockpile - Accumulate materials held in reserve, Global capital - All countries´ wealth, Industrial production - Output of the industrial sector, Investment - Monetary asset purchased, Slump sharply - Tumble rapidly, Recession - A period of economic decline,

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Gap Filling Quiz

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Wordwall - Cree mejores lecciones de forma más rápida

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European leaders have discussed other measures such as the [allocation]of European funds to people who lose their jobs due to the health crisis,, Spanish prime minister Pedro Sánchez has acknowledged that government measures will support the [liquidity] of small businesses to avoid problems of solvency., Resources would be devoted to maintaining the welfare of Spanish families, protecting workers to avoid [layoffs]., The world's economy could grow at its slowest [rate] since 2009 this year due to the coronavirus outbreak, Investors fear that the global spread of the virus will further [hit] the global economy and demand for oil., Likewise, oil has [slumped] sharply to to prices not seen since June 2001., Gold is traditionally considered a ["safe heaven"] for investment in times of uncertainty., Countries and world capital have been put under strict lockdown, bringing a total [halt] to major industrial production chains., Restrictions have affected the [supply] chains of big companies such as industrial equipment manufacturer JCB and carmaker Nissan., Countries and world capital have been put under strict [lockdown], bringing a total halt to major industrial production chains., The EU banned travellers from outside the bloc for 30 days in an [unprecedented] move to seal its borders because of the coronavirus crisis., In response, central banks in many countries, including the United Kingdom, have [slashed] interest rates, Investors fear the spread of the coronavirus will destroy economic growth and that government action may not be enough to stop the [downturn]..

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Economy Vocabulary Quiz. Gap Filling. Levels C1/C2

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European leaders have discussed other measures such as the [allocation]of European funds to people who lose their jobs due to the health crisis,, Spanish prime minister Pedro Sánchez has acknowledged that government measures will support the [liquidity] of small businesses to avoid problems of solvency., Resources would be devoted to

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Exam Practice: Article

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The Economics of Happiness - Reading Matching

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Uber loses London operating licence - BBC News

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Uber Loses Operating License In London

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How the Sharing Economy Is Changing the World | HowStuffWorks NOW

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How the Sharing Economy Is Changing

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Spotlight On the Sharing Economy

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Ellen McArthur On the Circular Economy

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Finance

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Here are some common words, phrases and idioms to talk about problems in the economy, money and finance.

Credit crunch = when borrowing money (from banks) becomes harder to get and more expensive.
(In the present credit crisis, banks stopped lending to other banks, then stopped lending to their customers, which means that there is now a shortage of credit and no more cheap credit).

Economic terms

The Central Banks and Finance ministers are trying to decide whether to inject more money into the financial markets (places where stocks or commodities for example are bought and sold).

Many countries are now in an economic recession. Apart from the credit crunch, there are other signs of a downturn, such as rising inflation and an increased cost of living. Governments often respond by cutting interest rates (to bring down the rate of inflation).

To compound the misery (=make things worse), falling house prices mean some home owners face negative equity (when your house is worth less than what you originally paid for it).

Overall, the forecast is pessimistic or gloomy.

Personal finances

High street banks (see our page on banking vocabulary) lend money to customers in the form of loans (such as car loans or personal loans) or in the form of mortgages to buy houses.

Sub prime mortgages, now often referred to as toxic mortgages, were sold to people with poor credit ratings. It is a combination of this type of risky lending, falling house prices and high interest rates which led to defaults on mortgage payments and foreclosures (=repossession). This in turn triggered the global financial crisis.

A number of banks have already gone bust or have been nationalised (= bought by the government) who try to reassure customers that their savings accounts are safe. However, consumer confidence is low.

Unemployment

People worry about losing their jobs, or being made redundant. Some industries are cutting their workforce, and laying off staff. These job losses / job cuts / redundancies mean that there will be more claimants (for unemployment benefit) - or more people on the dole. (dole = unemployment benefit).

More finance and economy phrases

weather the storm = survive bad times: "We're trying to weather the storm by lowering our prices."

be in good shape (the economy is in good shape) = to be strong: "Fortunately, we're in good shape financially, so we should be able to weather the storm."

live beyond your means = not earn enough money, so you need to borrow money: "We have to stop living beyond our means."

pay the price = pay for your mistakes: "The country is paying the price for its previous spending policies."

foot the bill = pay for someone else: "He took me out for lunch and footed the bill."

at rock bottom = to be so low you cannot go any further down: "The economy must be at rock bottom now."

in free fall = keep falling without anything stopping the fall: "The economy is in free fall."

Money idioms

to break the bank = to cost a lot of money: "I can't afford a skiing holiday this winter - it would break the bank."

to cost an arm and a leg = be very expensive: "It costs an arm and a leg to buy all these Christmas presents."

to pay through the nose = cost a lot: "They had to pay through the nose to get their son insured to drive."

to splash out on something = to pay a lot for an important event: "They're splashing out on their anniversary this year."

Idioms meaning a person is rich

to be loaded: "He works in the City and he's loaded!"

to be sitting on a small fortune / goldmine: "She will inherit everything. She's sitting on a goldmine!"

to have money to burn: "I've just received a bonus and I have money to burn!"

Idioms meaning a person is poor

to be as poor as church mice: "His family have always been as poor as church mice."

to be skint = British slang that means having no money: "Can you lend me some money until next Friday? I'm skint!"

to be broke = have no money (also "flat broke" or "stony broke"): "She's always broke at the end of the month."

to scrimp and save = to make as many economies as you can to save money: "His parents scrimped and saved to send him to university."

Idioms to mean you don't want to spend money

a scrooge = Scrooge was a Dickens character, famous for being mean: "Why don't you want to buy her a leaving present? You're such a scrooge."

a skinflint = someone who doesn't want to spend money: "She reuses tea bags - she's such a skinflint!"

tight-fisted: "One reason he has so much money is that he's so tight-fisted!"

Other money idioms

to have more money than sense = to have a lot of money which you waste rather than spend carefully: "He just bought another camera - he has more money than sense."

to burn a hole in your pocket = to not be able to stop spending money: "He can't just go out window-shopping. Money burns a hole in his pocket."

money for old rope = an easy source of income: "He sells bunches of flowers he has grown himself. It's money for old rope."

make a fast buck = to make money quickly and sometimes dishonestly: "He made a fast buck selling those shares. I wonder if he had insider knowledge."

Ten a penny = very common: "These scarves are ten a penny in the markets here."

For more idioms about the economy, finance and business, see my ebook: 303 Business English Idioms and Phrasal Verbs.

Hi! I'm Clare, an English teacher and the founder of this site.

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English vocabulary for money, finance and the economy

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Here are some common words, phrases and idioms to talk about problems in the economy, money and finance. Credit crunch = when borrowing money (from banks) becomes harder to get and more expensive. (In the present credit crisis, banks stopped lending to other banks, then stopped lending to their customers, which means that there is now a shortage of credit and no more cheap credit).

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Vocabulary on Economy & Finance

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HOW TO WRITE AN ARTICLE + ANSWER KEY

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Exam practice

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Try to do 8-10 transformations a day. In 10-15 days (in a jiffy) you'll have revised lots of grammar points.

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Write 3-5 words you´ve learned from the texts/videos/quizzes provided in this Unit. I will create a collaborative wordcloud.

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Write 3-5 words you´ve learned from the texts/videos/quizzes provided in this Unit. I will create a collaborative wordcloud.

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Tuesday 26-03-2020

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lesson plan

c2 level

26-03-2020

READING

Word Cloud.

FINAL TASK

vocabulary

Economic Impact of Coronavirus. Record your voice on Vocaroo.

listening

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You can find all the materials listed below on thePadlet Board.Don´t forget to send your essays and remember to record your oral productions on Vocaroo!

ECONOMY

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KEEP COOL!

SPEAKING

Revision Quizzes 1 & 2

Economics of Happiness

Collaborative Economy

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Lesson Plan: 26-03-2020 by Virginia Woolf on Genially

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info lesson plan c2 level 26-03-2020 READING Word Cloud. FINAL TASK vocabulary Economic Impact of Coronavirus. Record your voice on Vocaroo. listening + Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.

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To reap the benefits
Excise taxes
Abject poverty
Debentures
Ailing economies

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PRODUCTION OF WRITTEN TEXTS AND MEDIATION

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Naysayers
Turmoil
Halt
Bail Out
Dole

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Dame Ellen MacArthur is a living legend of the sailing world, becoming the fastest person to circumnavigate the globe single-handed. She unexpectedly retired from professional sailing after smashing that world record. She told euronews that her time at sea took her on a new and unexpected journey.

"Without looking for it, I found something quite fundamental. That was that when you sail around the world in a boat, you take everything with you you need, you're at sea for three months (...) You realise what finite really means, because what you have, is all you have, there simply is no more. I stepped off the boat at the finish line and I suddenly realised that in fact our global economy is no different. Our global economy is entirely dependent on finite resources."

Because of this realisation, in 2010, Ellen MacArthur set up the Ellen MacArthur Foundation. Her goal is to hasten a transition from our current linear economic model based on what can be termed as take-make-waste principles, to a regenerative circular economy.

In this latest edition of the Global Conversation Ellen MacArthur explains to euronews' Isabelle Kumar that the circular economy is far more than a lifestyle change. It involves a far reaching systems-level change.

"The circular economy is much more about a change in the system, it's not at all about individual behaviour change. The circular economy is about looking at our current economic model as a linear one saying we take something out of the ground, we make something out of it, but ultimately we throw it away and we get what we can out at the end, we recycle what we can. With the circular economy, from the beginning you design for disassembly, you design for re-manufacture, you design so that product can fit within a flow," MacArthur said.

The idea is definitely taking on, the Foundation has well-known global partners, such as Renault, Cisco, Kingfisher, Unilever and Philips. Ellen MacArthur has also been in consultation with the European Commission over its new circular economy proposals.

The Foundation's work is based on three areas: business, communication and education. As such Ellen MacArthur not only works closely with business, she is also working with universities and schools worldwide to inspire the next generations.

"Young people love this. (...)There was a student from the UK who was doing his A-levels, so he was 18-years-old, and he went to his Design and Technology teacher, they had been studying the circular economy, working with the foundation, he said: 'Sir when I did my GCSEs, aged 16, I loved D and T (Design and Technology) but I couldn't think of anything to design, but now, I have learnt about the circular economy, everything I see, I want to redesign.' Ellen MacArthur adds: "We see this again and again."

Given MacArthur's determination, this is one challenge she is not going to let go of easily, but she believes the tide is changing and that this systems-level change is within our reach.

"Giving up has never been an option for me. Not at all. Not when there is something so important."

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Ellen MacArthur: making waves on a journey to a circular economy

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Dame Ellen MacArthur is a living legend of the sailing world, becoming the fastest person to circumnavigate the globe single-handed. She unexpectedly retired from professional sailing after smashing that world record. She told euronews that her time at sea took her on a new and unexpected journey.

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Slump sharply
Supply chains
Halt
Grub
Engulfed by