B3U7-Section-A

3SurvivinganeconomiccrisisUnit7SectionAFOREIGHLANGUAGETEACHINGANDRESEARCHPRESSAIRFORCEENGINEERINGUNIVERSITYIt’sarecessionwhenyourneighborloseshisjob;it’sadepressionwhenyouloseyours.—HarryS.TrumanHungerisnottheworstfeatureofunemployment;idlenessis.—WilliamE.Barrett37Economy:PowerbehindeverydaylifeUNITSectionA3SurvivinganeconomiccrisisObjectivesTotalkabouteconomiccrisisTofurtherunderstandthetextToapplythephrasesandpatternsTomastertheessaywritingskill7Economy:PowerbehindeverydaylifeUNITContentsSurvivinganeconomiccrisisSectionAWarming-upactivitiesTextstudyLanguageapplicationSummaryWarming-upactivitiesLead-inPre-readingactivitiesCulturalbackgroundSurvivinganeconomiccrisisSectionA1.Howdoeseconomicrecessionaffectordinarypeople?•Longmonthsofstruggles;•Harshreality;•Losingjobs;•Losingapartment;•Losinghighlivingstandards;•Losingstatus;•Losingbeliefandself-esteem;2.Doyouhaveanysolutionstoeconomiccrisis?•Togobeyondshort-termfinancialrescuesolutions;•Toseeklong-termtransformation;•Toconstructasysteminwhichmarketforcesarecheckedthroughethicalregulationsandoversight;•Toconstructaframeworkofcommonvalues.1.Howdoyouunderstandglobaleconomicmeltdown?2.WhatisUSgovernment’sfirstresponsetotheeconomiccrisis?Watchavideoclipabouteconomicmeltdownanddiscussthequestions.Pre-readingactivitiesWatchandtalkVideoWatchingPre-readingactivitiesWatchandtalk1.Howdoyouunderstandglobaleconomicmeltdown?•Severeandsuddendeterioration;•Worldwiderecession;•Resultinginhugefinancialloss;•Creditcrunch;•Stockmarketcrash.Pre-readingactivitiesWatchandtalk2.WhatisUSgovernment’sfirstresponsetotheeconomiccrisis?TobailoutthebankswithTRAP(Troubled-AssetReliefProgram)soastohelpbanksgetridoftoxicassets.Pre-readingactivitiesWatchandtalkTheeconomic______isclaiminganothervictim:worldtrade.LastmonththeWorldBankpredictedatwopercent_________thisyear—thelargestdropsincethe1940s.Economiesthatdependonexportsforgrowthhavebeenhithard.ThisistheVOASpecialEnglishEconomicsReport.Listentoashortpassageconcerningeconomiccrisisandfillinthemissinginformation.crisisdecreaseCompounddictationPre-readingactivitiesCredithasimprovedinsomecasessincethefinancialcrisis__________inSeptember.Butfallingdemand,includingreduceddemandforoil,hascuttradearoundtheworld.TheInternationalMonetaryFundrecentlycalledforgovernmentspending,taxcutsandinternational___________tosupportgrowth.worsenedcooperationListentoashortpassageconcerningeconomiccrisisandfillinthemissinginformation.CompounddictationPre-readingactivitiesToeasecredit,theBankofEnglandlastweekreduceditsmaininterestratetooneandone-halfpercent—itslowestever.Thebankwas___________in1694.Britain’seconomymayhave_______byonepercentjustinthefinalthreemonthsoflastyear.Thefirst_________areexpectedattheendofJanuary.establishedshrunkestimatesListentoashortpassageconcerningeconomiccrisisandfillinthemissinginformation.CompounddictationPre-readingactivitiesThisweek,Germany’s___________________agreedtoaneconomicaidpackageworthabout67billiondollars.Thetwo-yearplancallsforspendingonpublicworksandataxcutforlow-incomeGermans.Criticsconsideredanearliermeasuretoosmallto________________inEurope’slargesteconomy.coalitiongovernmentfighttherecessionListentoashortpassageconcerningeconomiccrisisandfillinthemissinginformation.CompounddictationPre-readingactivitiesQuestionsPreviewing1.Whatiseconomiccrisis?2.Whatdoesmortgagereferto?3.WhattriggeredUSsubprimemortgagecrisis?TipsTipsTipsCulturalbackgroundEconomy1.Whatiseconomiccrisis?•Suddendownturn;•Financialcrisis;•FallingGDP;•Dryingupofliquidity;•Rising/fallingprices.CulturalbackgroundEconomy2.Whatdoesmortgagereferto?•Alegalagreement;•Thepurchaseofrealestate;•Paymentperiods;•Interestrates.CulturalbackgroundEconomy3.WhattriggeredUSsubprimemortgagecrisis?•Anationalbankingemergency;•Alargedeclineinhomeprices;•Declinesinresidentialinvestment;•Reductionsinhouseholdspendingandbusinessinvestment;•Mortgagedelinquenciesandforeclosures;•Thedevaluationofhousing-relatedsecurities.CulturalbackgroundEconomyMainidea&structureLanguagefocusCriticalthinkingTextstudySurvivinganeconomiccrisisSectionAAboutSueJohnsonEconomicslumpTenantevictionScrapetogetherWindup(doing/+atn.)MigrantInsurance/unemploymentbenefitExpireWhatwasSue’sformerlifelike?•Acorporationjobinametropolitancity•$56000ayear•VacationinginMexicoandCaribbean•GraduatebusinessschoolinanexcellentUni.Now…Lostlastaspectofformerlife,facedunsurefuturesWhatwastheconsequencewhenlargenumbersofhomeownersfailedtorepaytheirloans?(Para.1)TipsThecompaniesthathadtheoversightandthosethatownedtheloans(aswellastheirsubsidiariesandtheirshareholders)lostsizableamountsofmoney.MainideasofthepartsMainidea&structureThetextstartswithanintroductionaboutthe___________causedbytheeconomiccrisis,inwhichtheauthorsetsforththethesisstatement—manypeopleexperiencedlongmonthsofstruggleswhenthe_______________sweptthenation.(Para.1)PartI(Para.1)greatimpacteconomicslumpMainideasofthepartsMainidea&structureSuefacedlifeas_______afterbeingevictedfromherapartment.(Paras.2-3)Whereisshegoing?Suepackedupanddroveoutoftown.(Para.2)Shew