HOMOLYA KATALIN — ROBERT THIESSEN Topic by Topic Sz6beli vizsgafelkészité gyakorlékényv a kizgazdasdgi szaknyelvi vizsgéhoz AULA, 2009.Contents Overview of the 15 topics Topics sees 1. The European Union 2. Globalisation 3. The market 4, Thelabour market 5. Taxation 6 7. 8. Environment protection Companies .. . Banking ......... 9, Financial markets 10. International trade 11. Marketing ... 12, Telecommunications .. 13, The Hungarian economy 14, Major and emerging world economies 15. Societal issues and the economy Appendix . Key to vocabulary exercises Il, Key to comprehension questions Ill, Making comments, stating your opinions IV. Sample role-playing exercise Y. 30 role-playing exercises VL. List of transition signals in writing ............ 129 VIL Sample essay ...ssssees. ssussvitvesssieaitscssesvisee dQ) VILL Hungarian texts ...... cose seeneeeeeseveeeeee 131 IX. English texts .. 139 X. Further exercises to English texts 154 English - Hungarian glossary 155 Hungarian ~ English glossary 173Elész6 A sveraik 2 BUDAPESTI CORVINUS EGYETEM nagy gyakorlattal rendelkez6 vizsgeanyag-fejlesat6 és vinsgéataté oktatéi, akik az OECONOM kézgazdaségi szaknyelvi vizsgajat belilrdl ismerve célirdnyos titmu- tatést tudnak adni a sikeres felkésziléshez Ekényy ~ egy olyan sorozat részeként, amely a BCE nyelwvizsgara készit fel - £8 célul azt tate ki, hogy pet adjon a vizsga sabbeli résaérdl és hatékony segitséget nyiijtson azoknak, akik esoportban vagy egyéni- leg késziilnck erre a vizsgara. {A sasbeli viasga napjaink gazdasdigi kérdésci kéré fonddik. A kényv 15 fejezetének mindegyike egy adott témakdrralfoglalkozik és szorosan Koveti a vizsga szerkezetét L IL ™. Vv. Azéltalanos bevezeté célja az adott téma legaltaldnosabl vonatkozAsainak megismertetése és jellema6 szokincsének bemutatésa. A székinesfeladatok megolddkulcsét a Fiiggelék (Appendix) tartalmazza Az dsszefoglalésra szant adaptalt magyar szdveg valamivel hosszabb, mint a vizsgasziveg, mivel ily modon tébb magyar s26 és kifejezés adott kontextusban hasznélt angol megfelel6jével talllkozik az olvasd, Ez a fejezetrése elsé lépésben az adott téméra jellemzd szavakkal és kifejezésekkel ismertet meg, Ezek ismeretében a vizsgi6 feladata az, hogy megtelelé valogatés utén dsszefoglalja a szbveget. A Fliggelékben talélhaté gyakorliszdvegek hossza egyezik a kéizépfoktivizsgan eldirt mérette. Az Osszefoglalandé angol sziveg sadmagyarézatai sadkincsbévitésre szolgdlnak, mig a szOvegértést meré kérdések az Osszefoglaldshoz nyéjtanak timpontot. A Figgelékben 2 feladatok megoldékul- san kivil gyakorldszdvegek is talélhatdk, tovabbi feladatokkal. ‘Az elsd hdrom rész tartalmi szempontjai,illeve feldolgozott szdkincse verethet el a megyitatandé saakmai kérdésekhe2, amelyek egyrésat az angol sziveg szakmai téméjéhoz kapcsolédnak, masrészt a téma dltaldnosabb vetileteire vonatkoznak. A kényy elején talélhats éttekintés tovabbi szempon- tokat is tartalmaz, amelyek segitségevel jl kortljarhats az adott téma. A sabbeli vizsga utolsd feladata a vizsgdatatéval eljétszott szerepjaték. Az egyes fejezetekben kettd ~ nem az adott témshor kapcsol6ds ~ feladat gyakorlisara van Ichetdség. A Figgelék mintameg- oldasa és az egyes fejezetek dtletekkel kiegészitett szerepjitékai is segitséget nysijthatnak a felkésriilésher, AFUGGELEK tartalmaz tovabba: egy s2dbeli mondatkezd6 é mondatokat dsszek0t6 kifejezéseket tartalmaz6 gyéjteményt egy irdsban hasznélatos mondatkezdé és mondatokat (gondolatokat) dsszektd kifejezés- gyditeményt egy mintét az irdskéseség feladathoz, amely IehetOséget ad az frdsbelifogalmazds és a sz6beli Ossze- foglalds kézti kilonbségek megfigyelésére egy angol-magyar és magyar-angol sadszedetet a kényvben eldfordulé legfontosabb gazdaségi jel- leg svavakkal és kifejezésekkelTopic 1 — The European Union Subtopics: + General information (purpose for which it was established, waves of expansion) + Problems concerning the influx of labour + Systems that provide aid to member states (CAP, Structural Funds, Cohesion Funds) + Monetary Union (goals, Maastricht criteria, member states) + Advantages of EU membership, problems between member states, issues relating to further expansion, reasons why certain countries (Switzerland, Norway) opted out of the EU + Tssue of constitution for the EU, whether is it needed, obstacles, advantages Topic 2 — Globalisation Subtopics: «The development and spread of globalisation = Characteristics + Multinational companies + Advantages and disadvantages of globalisation, + Movements against globalisation + Impact of outsourcing on wages and jobs + Implications of new emerging economic giants like China and India + Migration of workers to urban centres Toy Subtopics: + The regulatory role of the market in the economy + Most important models of the market economy (eg. Japan, America, etc.) + Internal and external markets + Characteristics of the Hungarian market (companies, population), changes since the beginning of the 90s + Consumer patterns and habits + Defending and increasing market share, competition + Anti-trust issues, price fixing + Need for cultural awareness in successfully entering new markets 3—The Market Topic 4 The labour market Subtopics: + Characteristics of the Hungarian labour market (distribution according to age, region, sectors black and ”grey” work) + Determining factors that shape Hungarian employment policy (level and problems of employment) + Level and characteristics of unemployment in Hungary and in English-speaking countries (e.g. develop- ment in the rate of unemployment) + Process of job hunting (methods, channels, job interviews) + Non-discrimination in terms of age and ethnicity + Women in the labour force + Flexibility in the labour market + Creation of new jobs to stay economically viable + Executive pay + Hiring executives, leadership skills and qualities necessary + Job buy-outs and retirement schemes for reducing employee costseeu ERE RES A Topic 5 — Taxation Subtopics: + The role of taxation from the viewpoint ofthe state + Main types of tax (direct and indirect taxes) + The Hungarian tax system (characteristics, changes, problems) + Transparency and oversight of taxation (attempts to introduce flat rates) + Tax evasion (reasons, prevalence, consequences) + Political, economic and social forces influencing income taxation + Issue of tax havens (legalities, avoidance or evasion) 6 — Environment protection Subtopics: + Global threats (global warming, ozone layer, water, air, soil, noise pollution) + Alternative energy sources (water, wind, geothermal, biomass) + Measures taken to solve environmental problems (Kyoto Protocol, trading of carbon credits, comprehen- sive green-tax reforms) + Energy conservation + Problem of waste disposal (storage, recycling, toxic waste) + Risks and opportunities for biotrade business presented by the glabal market economy + Safeguarding biodiversity Topic 7 — Companies Subtopics: + Types of companies in Hungary and other countries, their role and influence + Role of small and medium-sized companies in the economy + Characteristics of multinational companies + Joint ventures + Profile of a company + Mergers and acquisitions + CSR (Corporate Social Responsibility) + Cultural awareness Topic 8 — Banking Subtopics: + The Central Bank - its functions and operation + Retail banks ~ their characteristics and services offered + Banking services from the perspective of the consumer and the institution + Expansion of online banking (advantages, associated problems) + Role of world institutions like the IMF, the World Bank, the ECBOverview of the 15 topics Topic § — Financial markets [the stock exchange, investment] Subtopics: + Role of the stock exchange in the economy (differences between countries, continents) + How the stock exchange operates + The Budapest Stock Exchange (leading stocks, trends, role in the region) + Investors and investments of the stock exchange (types of investment, returns and risks, domesticand for- eign investors, institutional and individual investors) + Various types of investment (investment funds, government securities, realestate, art treasures) Topic 10 ~ International trade Subtopics: + Hungarian trade relations (EU member state, foreign trade balance) + Hungarian trade relations with third countries + Role of the WTO in global trade (conflict of interests between developing and emerging countries) + Protectionism (reasons and means used) commerce (characteristics, advantages, future prospects) + Agricultural issues (genetically modified foods, government subsidies) Topic 11 — Marketing ‘Subtopics: + Marketing ~ its components, types and role + Advertising (channels of advertising, advertising techniques, banned ads) + Advertising and how consumers are influenced or not influenced + Sponsorship (purpose and types) + Successful advertising + Spread of Internet and mobile phone advertising Topic 12 — Telecommunications Subtopics: + Telecommunications in the 21st century (development of technology, role of telecommunications in the economy and in society) + Fixed line and mobile telephone market (changes, liberalisation) + The Internet (its spread, significance, societal problems) + Rapid rise and implications of social networking and online communities + Mobile phone and Internet penetration in Hungary, roe in the economy + Impact of telecommunications on work Topic 13 — The Hungarian Economy Subtopics: + Macroeconomic indicators (financing the budget deficit, balancing the budget) + Hungary as a member state of the EU + Euro ~ convergence criteria (Maastricht criteria), prospective date for joining + The state and the competitive market + The black/grey economyTopic 14 — Major and emerging world economies Subtopics: + Economic situation of these countries (stabi + EU member states, relationship to the EU + BRIC countries ~ growth of economic potential + Labour market features (regional, sectoral, migrant workers) + Economic problems and their proposed solutions + The impact of America’s current account deficit on global markets + Global power shifts ~ moving from unipolarity to multipolarity development characteristics) Topic 15 — Societal issues and the economy Subtopics: + Societal problems + Demographic issues and consequences for the economy + Societal inequality; racial, sexual, age-related discrimination + Social welfare system (health care, education, pension system) + Living standards and quality oflife + Life expectancy + World poverty + CorruptionTopicsce] 1. The European Union INTRODUCTION 1 TOPIC ‘The European Union (EU) is a supranational and intergovernmental union of 27 democratic member states, It was established under that name in 1992 by the Maastricht Treaty. Three countries, Switzerland, Iceland and Norway, have decided to stay out of the European Union. In May 2004 ten applicant countries joined. The next phase of enlargement took place in January 2007 with the accession of Bulgaria and Romania. The Four Freedoms ‘The free movement of goods, services, labour and capital forms part of the substantive law of the EU. ‘The Schengen Agreement abolished passport control and customs checks on many of the EU’s internal borders, creating a single space of mobility for EU citizens to live, travel, work and invest. While the free movement of goods, services and capital has more or less been implemented, after the enlargement of 2004, only 3 "old members” ~ Sweden , the UK and Ireland ~ allowed foreign workers to take on jobs without a work permit. Most ofthe old members temporarily prohibit the inflow of foreign workers, because they are afraid of the mass migration of cheap labour. The single currency The euro has been the official currency of the European Union in several member states since 1999, although coins and bank notes weren’t introduced until 1 January 2002. Some of the old member countries decided against joining the eurozone at that time. Most of the new members are preparing for the adoption ofthe euro. The single currency is managed by the European Central Bank. 1. Countries wishing to accede to the eurozone have to meet certain requirements: the Maastricht criteria: + Price stability: inflation must be under the average of the three countries with the lowest inflation, plus 1.5% + The long-term interest rates should be within 2% of the average of the three countries with the lowest inflation + The public deficit shouldn't exceed 3 % of GDP + The national debt shouldn't exceed 60 % of GDP 2, ERM Il (Exchange Rate Mechanism II) Joining ERM II ensures that the participating countries orient their policies towards stability and con- vergence, which will help them in their efforts to adopt the euro. A central rate is determined between the euro and each participating non-euro area currency, with a standard fluctuation band of 15% above and below that rate, and each participating country has to hold its currency in this band without the interven- tion of the National Bank for two consecutive years. Hungary has not joined the system yet. 3. Asa result of the introduction of the euro, transaction costs and exchange rate risks are eliminated (there is no need to exchange the national currency) and prices become more transparent. Apart from con- tributing to macroeconomic stability, it has further favourable economic impacts by attracting foreign direct investment (FDI). 12Common Agricultural Policy The Common Agricultural Policy (CAP) is @ protectionist policy guaranteeing a minimum price to p ducers and also giving direct aid to them. Some countries in the EU have larger agricultural sectors than others, notably Spain, Poland and Portugal, and consequently receive more money under the CAP. They are net recipients. Overall, certain countries make net contributions, notably Germany, the Netherlands and the UK. The enlargement of the EU in 2004 increased the number of farmers from 7 t0 11 million, and it also increased the agricultural land area by 30% and crop production by 10-20%. ‘The 2004 entrants into the EU gained immediate access to price support measures (export refunds, intervention buying). However, direct payments to Hungary are being phased in over 10 years (2004-2013), starting at 25% of the rate paid to old member countries in 2004. Further enlargement After the last enlargement (when Romania and Bulgaria joined the EU) the union remained open, but countries wishing to join have to comply with strict requirements. Croatia and Turkey are the official can- didate countries which have started accession negotiations with the EU. Vocabulary exercises based on the introductory text A. Match each word in the left-hand column with a word or phrase similar in meaning from the list opposite. L a repayments 2. b. support 3. abolished c. joining asa new member 4. customs 4. effects 5. _ internal e. place where import duties are charged 6. exceed f. candidate 7. transparent & surpass 8. impacts h. clear 9. aid i, eliminated 10. refunds j. not foreign B. For each word or phrase in the list below, find in the text a word or phrase given in bold that is similar in meaning. setup expansion necessary conditions something owed taking part take and use, accept asa result countries receiving more money than they pay in (two words) 9. introduced gradually (two words) 10, actin accordance with a demand (two words) PN AM eee1. The European Union HUNGARIAN TEXT Exercise 1. Cover the English words and expressions given on the right and try to guess the English equivalents of the underlined parts of the Hungarian text. Exercise 2, After checking your guesses against the equivalents listed on the right, give an oral sum- mary of the text in English. Pragdban nem sietnek az euré dtvételével’ A cseh kormdny* az év végén étdolgozta azt a konvergenciaprog- 1 adoption ofthe euro ramot’, amelyet két éve még Jiri Paroubek kormédnya hagyott j6- 2 Ceech government va. A dokumentum 2010-et jelilte meg" az euré esehorszdgi be- 3 reworked the convergence programme vezetésének idépontiéul, @ mostani terv azonban mér nem tar- 4 designated 2010 talmaz konkrét cdldétumot’ 5 target date ~ Sokal tb _kérunk, mint hasznunk* szérmazna a felesleges 6 mare cosis than benefits sietségbdl’. Terveink szerint legkésbb jévére' teljesitjtk_a 7 unnecessary haste maastrichti kritériumokat’, 4m a cél a kedvez6 folyamatok hosz- 8 next year at the latest ssai tévti fenntartdsa" — nyilatkozta Miroslay Kalousek pénziigy- 9 meet the Maastricht criteria miniszter". 10 long-term maintenance A pragai tércavezetd szerint az elkévetken6 években" szAmos 11. finance minister kockézattal seembesti!” az orszig, Beck kbatll az elsGhelyen em: 12 in the coming years litette a demogréfiai gondokat™ . ~ A nyugdijasok ardnya" dré- 13 faces risks maian megndvekszik” a gazdaségi szempontbol aktiv réteghez 14 mentioned demographic problems kepest”. A nyugdijkorhatart pedig csak fokozatosan emeljiik" fel 15. proportion of pensioners 65 évre ~ mutatott ré a pénzilgyminiszter. 16 will ise dramaticaly ‘A megfontolt Iépések hive” Zdenek Tuma, a cseh jegybank 17 compared to the active segment elnke* is, aki szerint az eur bevezetésének legalkalmasabbid6- 18 raise retirement age gradually pontja 2019 lehetne, - Akkor emilékeziink meg" az elsé csehszlo- 19 in favour of carefully thought out steps a korona megsriiletésének szai 20 governor of the Czech National Bank duléjars, amelytGl igy mélté médon biicstizhatndnk. Réadésul 21. commemorate akkorra® felteheten minden szemponthél* készek lesziimk az 22 currency euré bevezetésére, vagyis sokkal tobb lesz hasznunk a valtésbol, 13 100th anniversary mint a kockizatunk ~ szdgezte le a neves pénniigyi szakerté, 24 moreover Ovatoskod6 hangok hallatszanak Pozsonybél” is, ahol a legis- 25 by that time mertebb szlovak kézvélemény-kutatd intézet®, az MVK legutb- 26 in every respect bi reprezentativ felmérése szerint” a lakossdg 45.3 szdzaléka ~ 27 Bratislava jelentékeny meértékben” a csehorsrdgi stratégia hatdsdra” is 28. publi-opiniow research institute szeretné néhany évvel elhalasatani" az eurd bevezetését. Csupén 29 according toa representative survey a megkérdezettek 22.7 szizaléka tartand” a kittizétt idépontot, 30. toa large extent vagyis 2009. janudr 1-jét. - Szlovakidban satintelentl erdsidik.a 31 affecied by Korona az eurdhoz képest™. Ennek a hatisnak a megsdiintetése” 32 postpone leginkabb a szegény rétegeket stjtané* ~ érveltJilius Brocka, a 33. would keep 10 Magyar Koalicis Pértjénak egyik alelndke” 34 the crown is appreciating against Nepscabndsdg, Szihrdssy JOzsef 2008, jamudr 11 (1700 n) ieewe 35 elimination 36 would hit the poor layers 37 vice president argued 4