Choose the best alternative for each numbered space.

Write one letter - A, B, C or D - in the relevant box:

Charlie and the Chocolate Factory (2005): the value of the welfare state
In the 2005 film version of Roald Dahl’s Charlie and the Chocolate Factory, Charlie’s father ..(1).. his job as a
toothpaste cap-screwer because someone has ..(2).. a machine that can do it much faster. This kind of
unemployment is known as ‘..(3).. unemployment’, and has been a constant feature of capitalism - just think about
some of the ..(4).. that have all but disappeared except in name: chandler, weaver, miller, etc. Without constantly
destroying ..(5).. jobs and creating new ones through technological innovations, capitalism ..(6).. develop.
But the inevitability of technological unemployment does not ..(7).. that unemployed people should be left in the
dustbin of history. If Charlie’s family had lived in a country with a welfare state which provided unemployment ..(8)..
for the unemployed worker and ..(9).. support for his family as well as subsidising his ..(10).. , they would not have
had to endure penury - or that continuous diet of cabbage soup.
©the guardian.com

1 A finds B applies for C loses D defends

2 A patented B invented C sold D replaced
3 A cyclical B natural C seasonal D technological
4 A professions B tasks C duties D careers
5 A any B the C old D most
6 A will B cannot C can D must
7 A exclude B prove C want D mean
8 A benefit B money C loans D charity
9 A interest-free B technical C income D psychological
10 A retraining B condition C salary D ex-company

Charlie and the Chocolate Factory Exercise 1 Charlie and the Chocolate Factory Exercise 2
Do these words go before or after ‘unemployment’? What are the noun forms (not people) of these verbs?
benefit figures graduate
long-term mass rate youth 0 invent invention
1 employ
1 unemployment
2 innovate
2 unemployment
3 destroy
3 unemployment
4 train
4 unemployment
5 develop
5 unemployment
6 subsidise
6 unemployment
7 provide
7 unemployment
Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

Giving Presentations
Most presentations today rely on the use of some sort of technology, such as a laptop computer linked
to a projector. ..(1).. technology can help to make presentations better, it also has a habit of getting
in the way. As a ..(2).. rule, it is better to focus on the ..(3).. of a presentation to capture the audience’s
attention, ..(4).. than relying on sophisticated equipment. As a first step, you need to identify the
..(5).. points you want to get across - audiences are easily bored and tend to ..(6).. only the most
entertaining, exciting or unusual ideas. Next, create your materials, ..(7).. any images for your
presentations carefully. Remember, you do not ..(8).. images to stop the audience from listening to you,
nor do you want to confuse them. Finally, make all the necessary arrangements for the ..(9).. you will need.
If technology is to be an ..(10).. part of your presentation, make sure you know how to use it properly
and ..(11).. it out beforehand.

1 A While B Then C But D So

2 A universal B positive C separate D general
3 A list B content C aims D sounds
4 A less B first C rather D before
5 A secondary B fascinating C bullet D main
6 A misunderstand B remember C ignore D consider
7 A choosing B digitalising C downloading D preparing
8 A need B try C want D expect
9 A equipment B machines C effects D results
10 A extra B important C external D internal
11 A work B take C put D test

Giving Presentations Exercise 1 Giving Presentations Exercise 2

What are the opposites of these words from the text? What are the verb forms of these nouns?

0 giving taking 0 creation create

1 better 1 presentation
2 sophisticated 2 reliance
3 first 3 equipment
4 unusual 4 focus
5 remember 5 identification
6 carefully 6 choice
 Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

Travel
For the second time, the Korona Hotel has been ranked No. 1 for customer satisfaction. “At our hotel, we give
our ..(1).. more than a high-quality experience - we get them to enjoy the Korona way of life”, says the
General Manager, Kurt Ahlberg, “and we pride ourselves on excellent ..(2).. in a luxurious environment.”
The ..(3).. are responsive and service-oriented, they obviously enjoy their jobs and want to help the clients.
The Korona is committed to meeting the ..(4).. of today’s international business ..(5)..: there is
high-speed Internet access throughout the hotel, and there are three spacious meeting rooms, with all the
..(6).. needed for successful business ..(7)... In addition, the ..(8).. of the hotel is ideal: a three-minute drive from
the international airport. Ahlberg has long understood that busy executives cannot afford to waste time in
..(9).. jams as they try to ..(10).. city-centre venues. Nor do they particularly enjoy having to get up at dawn to
catch an early-morning ..(11).. .
1 A tourists B guests C members D staff
2 A chefs B help C service D waiters
3 A assistants B crew C salespeople D staff
4 A criteria B needs C responsibilities D targets
5 A dealers B employers C travellers D voyagers
6 A buildings B facilities C machines D tools
7 A contracts B lectures C presentations D speeches
8 A location B place C site D venue
9 A road B street C traffic D transport
10 A arrive B go C get D reach
11 A airport B departure C check-in D flight

Travel Exercise 1 “.. a three-minute drive ..” Travel Exercise 2

Complete each sentence below with one of these phrases: Do these verbs go with ‘the needs’ or with ‘time’?
four-minute - two-hour - 35-hour gain - identify - kill - meet - save - serve
six-month - three-year - Seven-year spend - support - understand - waste

1 UK Economics undergraduates do a ... course.  the needs  time

2 It’s a ... flight from Malpensa to Lisbon.  the needs  time
3 Some UK hospital operations now have ... waiting lists.  the needs  time
4 In France, they have a ... working week.  the needs  time
5 ... itch is ‘marital wanderlust’ after as many years.  the needs  time
6 The first ... mile was run by Roger Bannister in 1954.
Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

Introducing change
Change is a natural part of the human condition. However, we often perceive it as a ..(1).. to our stability,
self-esteem and values, so it is hardly surprising that the most frequent reaction to change is ..(2).. .
Business leaders need to bear this in mind and to introduce change carefully for it to be successful.
They have to raise their staff’s ..(3).. of the ..(4).. of the intended changes. This can be achieved through good
communications, as well as through active staff ..(5).. in the decision-making ..(6).. .
Change is easier in flatter organisational structures than in ..(7).. ones. It seems that people working in ..(8)..
tend to generate more ideas and can test them out easily. A ..(9).. style of management, together with
adequate ..(10).. , can also boost self-confidence and thus help staff cope better with change. Finally, business
leaders should create an atmosphere of ..(11).. , in which staff are encouraged to express their feelings.
Indeed, silent resistance is a greater threat to the success of a change than open criticism.
1 A signal B deterrent C stimulus D threat
2 A violence B resistance C humour D persistence
3 A morale B awareness C ignorance D reason
4 A incentive B costs C purpose D success
5 A involvement B resistance C non-participation D monitoring
6 A time B role C activity D process
7 A democratic B caring C hierarchical D market-driven
8 A teams B offices C companies D sections
9 A supportive B preventive C rigid D disciplined
10 A education B training C measures D downsizing
11 A belief B truth C faith D trust

Introducing change Exercise 1 Introducing change Exercise 2

All the verbs below go with the noun ‘change’. What are the adjectival forms of the words below?
Do they have a neutral or a negative connotation?
avoid - counteract - effect - facilitate - impede
0 communicate communicative
1 criticism
initiate - make - obstruct - produce - resist
2 introduce
neutral negative 3 perceive
 change  change 4 self-confidence
 change  change 5 stability
 change  change 6 decision
 change  change 7 react
 change  change
Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

Company choices
It has become a commonplace to say that the world is changing at an ever-increasing pace. Companies today
are faced with a stark choice: ..(1).. or go under. For example, until quite recently, companies typically tended
to be ..(2).. . They were built on a model which achieved a high degree of control, but in which the ..(3).. of
communication were few and slow. Another disadvantage of this type of organisation is that more junior ..(4)..
may not even know who the CEO is, or what ..(5).. the decision-makers are trying to achieve. In order to try
and solve this problem, many organisations have adopted a less ..(6).. , more flexible business culture in
which frequent contact between the owner and the employees ensures that ..(7).. is flowing smoothly.
A second difficult choice for a company concerns the extent to which it should go global or remain ..(8).. .
Global operations allow maximum ..(9).. of scale, while localisation makes it possible to ..(10).. quickly to
market changes and to reach all market ..(11).. . In order to reduce the tension between global and local
demands, many companies have adopted a ‘hub and spoke’ structure, using several regional production and
..(12).. ‘hubs’ to serve neighbouring markets from a single location.

1 A adapt B spend C go over D research

2 A democratic B economical C hierarchical D welcoming
3 A channels B media C roads D webs
4 A buyers B representatives C directors D staff
5 A design B goals C plan D sales
6 A bureaucratic B caring C decentralised D market-driven
7 A hearsay B information C news D speech
8 A impersonal B local C professional D static
9 A economies B marketing C production D savings
10 A call B demand C enquire D respond
11 A leaders B research C sectors D shares
12 A advertising B distribution C manufacturing D selection

Company choices Exercise 1 Company choices Exercise 2

Sort these words according to the stressed syllable.
contact - control - culture - degree - demands
extent - frequent - recent - remain - second
 
1 1
Do these words go before or after ‘market’?
black - failure - follower - leader
niche - parallel - single - trend
1 market

2 2
2 market
3 market
3 3
4 market
4 4
5 market
5 5 6 market
7 market
8 market
Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

The Full Monty (1997): the reality of unemployment

This hit British film, starring Robert Carlyle and Tom Wilkinson, is ..(1).. remembered for its exuberant male
stripping act. However, the road which the six protagonists travel to reach that final scene is a troubled one.
In Sheffield in the mid-90s, industrial ..(2).. , particularly in the steel industry, had led to ..(3).. unemployment.
In the film, six jobless workers form a stripping troupe, after a long period of frustration, indignity, and
deprivation. In ..(4).. economic theory, this kind of unemployment should not exist. If the British steel industry
goes into decline because of ..(5).. from, say, South Korea, the industry will shrink and ..(6).. the capital
(machines) and the labour (workers) that it previously employed. The labour and capital thus released will be
..(7).. by industries in which Britain is relatively more efficient, but how many former steel workers do you
imagine have been re-employed by Goldman Sachs as investment bankers? The ..(8).. is that workers cannot
freely move across different jobs, because their ..(9).. is specific to their line of work - there are few ..(10).. that
are equally valuable in all industries. The alternative that most unemployed workers ..(11).. is to get a new job
that does not require much skill - in this case, stripping - and which pays far less.
©the guardian.com

1 A sometimes B mainly C hardly D unusually

2 A expansion B growth C decline D action
3 A low B widespread C female D youth
4 A practical B conservative C standard D general
5 A sales B competition C investments D subsidies
6 A invest B lose C release D compensate
7 A acquired B retrained C updated D absorbed
8 A point B question C theory D answer
9 A experience B qualification C CV D knowledge
10 A skills B people C products D methods
11 A want B demand C welcome D face

The Full Monty Exercise 1 The Full Monty Exercise 2

What are the opposites of these words from the text? Is the final ‘s’ sound /s/ or /z/?
banks - in the mid-90s - investments - jobs - jobless
1 efficient machines - sometimes - products - thus - workers
2 full
/s/ /z/
3 jobless
1 1
4 less
2 2
5 remembered
6 theory 3 3

4 4

5 5
Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

Leadership
Without followers, there would be no leaders. The concept of leadership, and the qualities needed for
someone to become a leader, can probably best be understood by studying the ..(1).. between the leader and
his or her followers. Good leaders have ..(2).. - the ability to step into someone else’s shoes - because they are
good listeners. They are open, always willing to discuss and ..(3).. problems. Team-building is one of the top
priorities of effective leaders. They work at ..(4).. an environment in which each team member,
while contributing to the team effort and to the purpose of the organisation, is able to improve their own ..(5).. .
Indeed, they are very good at ..(6).. their staff, enabling each of them to become a creative and independent
team player. This way, every individual ..(7).. the confidence and ability to ..(8).. the kind of decisions which will
help the company ..(9).. its long-term goals. Good leaders are also inclusive - they like to involve everyone and
they understand the importance of delegating ..(10).. . Finally, leaders have more than just targets: they
have a ..(11).. . They can see clearly where they would like the company to be in five or ten years’ time, and they
are able to ..(12).. this to their employees.

1 A contract B relationship C report D friendship

2 A empathy B charisma C passion D sympathy
3 A report B solve C consider D study
4 A creating B changing C regulating D restoring
5 A achievements B salaries C lives D performance
6 A strengthening B persuading C micromanaging D empowering
7 A rebuilds B gains C restores D wins
8 A do B want C make D support
9 A work B score C achieve D defend
10 A energy B blame C paperwork D authority
11 A vision B sight C view D scope
12 A reveal B suggest C communicate D transfer

Leadership 1 “Team-building is one of the top priorities of ..”

Complete each sentence below with one of these:
holidaymakers - hospitals - investigators - students
the restaurant industry - system administrators

1 One of the top priorities of is food safety.

2 One of the top priorities of is data security.
3 One of the top priorities of is shopping for souvenirs.
4 One of the top priorities of is academic achievement.
5 One of the top priorities of all over the world is optimising patient care.
6 One of the top priorities of after an aviation accident is finding the black boxes.

Leadership 2
The suffix ‘-ship’ indicates quality, state, status, skill, or collective body.
Complete each definition below with one of these:
friendship - gamesmanship - hardship
internship - partnership - relationship

1 : something causing or involving suffering or poverty.

2 : way in which two or more people or things are connected.
3 : art of winning games by using dubious but technically legal tactics.
4 : for cynics, ‘a ship big enough for two in good weather; for just one in bad’.
5 : business organization where two or more individuals manage and operate the business.
6 : official/formal program to provide practical experience for beginners in an occupation/profession.
Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

Wall Street (1987): beware the corporate raiders

Co-written and directed by Oliver Stone, and starring Michael Douglas, the film documents the rise of ..(1)..
‘shareholder capitalism’. From the 1930s to the 70s, ‘managerial capitalism’ (ie, capitalism managed by
professional managers with little influence from ..(2).. ) had prevailed in the advanced economies. However, by
the 1980s, floating shareholders driven by short-term financial gains started to get the upper hand.
Douglas plays Gordon ‘Greed is Good’ Gekko, a ruthless corporate raider who wins the ..(3).. of the
shareholders managing a takeover bid for a company by pointing out the inefficiencies of corporate
bureaucracy - the company has 33 vice-presidents, doing God knows what. Of course, his real ..(4).. is to
asset-strip the company: sell off the valuable assets and close it down, rather than ..(5).. it. The film depicts a
fundamental dilemma at the ..(6).. of modern capitalism: you cannot leave companies at the mercy of
short-term-oriented financiers such as Gekko; but without ..(7).. from shareholders, it is difficult to
restrain inefficiency. Since the film appeared, the balance has shifted too much in the direction of short-term
shareholders, leading to ..(8).. of ‘quarterly capitalism’. Under pressure from impatient shareholders,
many companies, ..(9).. in the US and UK, have become far too short-term oriented and have ..(10).. investing
in machines and technologies which only offer ..(11).. returns.
©the guardian.com

1 A modern B traditional C typical D official

2 A competitors B shareholders C banks D governments
3 A opposition B admiration C equity D support
4 A intention B hope C position D resource
5 A open B sell C downsize D develop
6 A dawn B edge C heart D epicentre
7 A money B votes C pressure D information
8 A developments B takeovers C criticisms D explanations
9 A only B especially C financially D exclusively
10 A refused B decided C stopped D chosen
11 A high B guaranteed C significant D long-term

Wall Street Exercise 1

Match up the street names and descriptions.
Abbey Road - Broadway - Lombard Street - Nevsky Prospekt
Sesame Street - Skid Row - Via Verdi - The Yellow Brick Road
5
1 Made popular with the release in
New York’s oldest north-south street. 1969 of the Beatles’ eponymous LP.
A must-visit for those who love shows, Known for little else, it still attracts
musicals and plays. devotees who re-enact this scene
in north London.

2 6
Children’s TV series known for its A metaphorical path to a goal, and
educational content, humour, cultural Dorothy’s path to the Emerald City
references, and the Muppets. in the 1939 film, The Wizard of Oz.

3 7
Not exactly parallel to Via Po, it was Immortalized in the works of
home to the Italian State Mint and Gogol and Pushkin, it is the major
known as ‘Via della Zecca’ until and oldest avenue in the old
1917, when it was renamed. Imperial capital of Russia.
8
4
Once just a district in Los Angeles,
Cars in San Francisco can take the eight
now the name for any urban district
hairpin bends and 27% gradient safely,
inhabited by the poor, the homeless
but slowly - the speed limit is 5mph.
and ‘social outsiders’.
Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

Conspiracy of Fools is a book by Kurt Eichenwald detailing the Enron scandal and the company’s ..(1).. in 2001.
Enron’s Chief Financial Officer, Andrew Fastow, is depicted as voraciously greedy, using front corporations and
partnerships, paying himself ‘management’ and ‘consultant’ ..(2).. as if he were an outsider, all while ..(3)..
Enron’s books to show fictitious profits. In addition to Fastow, there are stories of the complicity of Enron’s
auditors, their ..(4).. (internal and external), the senior management and Enron’s board of directors. The picture
that emerges is that of an out-of-control corporate culture that ..(5).. the basic principles of business, allowing it
to be manipulated by greedy incompetents for their own personal gain. The focus on reporting profits - rather
than ..(6).. making money - created a situation that ..(7).. encouraged and enabled a small group of insider
criminals to ‘game the system’. The company’s business losses were masked by accounting tricks, while the
insiders raked off huge ‘profits’ and ..(8).. for themselves. The game was eventually undone by huge ..(9).. ,
bad investments and the structures of the outside partnerships themselves, the solvency of which depended
on Enron stock prices rising continuously. When Enron’s stock began to fall, the financial structures ..(10).. ,
leaving Enron with billions of dollars in losses and few assets.
©en.wikipedia.org

1 A crisis B collapse C prospects D decline

2 A tips B fees C tolls D fines
3 A burning B cooking C washing D ironing
4 A vigilantes B lawmen C guards D lawyers
5 A regulated B implemented C ignored D wanted
6 A previously B dishonestly C theoretically D actually
7 A once B both C twice D efficiently
8 A prizes B bonuses C costs D taxes
9 A losses B errors C miscalculations D prices
10 A imploded B disintegrated C deflated D downsized

Conspiracy of Fools Exercise 1 Conspiracy of Fools Exercise 2

Which of the following Enron was, amongst other things, an accounting scandal.
are ‘financial crimes’? Do the words below go before or after ‘accounting’?
cost - creative - error - financial - fraud
1 insider trading method - policy - software - tax

2 honey trapping
3 identity theft 1 accounting
4 money laundering 2 accounting
5 confidence tricks 3 accounting
6 drink driving 4 accounting
7 price fixing 5 accounting
8 cloze tests 6 accounting
9 Ponzi schemes 7 accounting
8 accounting
9 accounting
Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

Up in the Air (2009): sacking people for a living

‘Non-places’ - airport departure lounges, company reception areas, and escalator-stairwells in shopping malls - are
the landscape for this recession satire in which Ryan Bingham, played by George Clooney, is ..(1).. by a human
resources consultancy to travel around the country, almost 52 weeks in a year. And ..(2).. people.
In theory, Ryan is called in because he is an expert in ‘outplacement counselling’, which the ailing companies
do not have in-house. In reality, he is the hatchet man, as the bosses lack the ..(3).. to sack their
employees themselves. So it is Ryan who must set up shop in some small office, call in dozens of people one by
one, and give them the bad ..(4).. , along with the smooth, hypnotic pep-talk about how their new status is
a ..(5).. and an opportunity. While the reactions of the soon-to-be-jobless range from philosophical and resigned
to furious and threatening, Ryan never loses his composure. Then things get ..(6).. : his boss, Craig,
introduces him to Natalie, a dynamic young new employee who has discovered iChat-style firing. This can be
done long-distance over a webcam, making expensive air travel - and Ryan’s current existence - ..(7).. .
Craig forces the resentful Ryan to take Natalie with him, to show her the ropes before the new virtual-sacking
..(8).. are started. Ryan finds himself defending old-school ..(9).. dismissal on the grounds that it is less brutal,
and even discovers stirrings of a new compassion deep inside himself, yet he must press on with his task of
..(10).. this young woman to be really good at sacking people.
©the guardian.com

1 A owned B sponsored C outsourced D employed

2 A assess B fire C hire D interview
3 A time B funds C nerve D inability
4 A news B reports C forecasts D information
5 A benefit B challenge C phase D privilege
6 A sophisticated B easy C clear D complicated
7 A redundant B indispensable C useful D cheaper
8 A theories B concepts C techniques D conversations
9 A back-to-back B face-to-face C eye-to-eye D cheek-to-cheek
10 A learning B forming C training D recruiting

Up in the Air Exercise 1 Up in the Air Exercise 2

The opposite of sacking? Recruiting, perhaps. Which of the following are good reasons
Put these recruiting activities for leaving a job?
in the most logical order.

 advertise position  you don’t like your colleagues very much

 appoint someone  the career prospects aren’t very good
 draw up shortlist  you spend a lot of time commuting every day
 examine job description  the job is repetitive and not very demanding
 find out why person has left  the pay isn’t enough for the lifestyle you want
 interview candidates  you have to do a lot of unpaid overtime
Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

Poor Economics - a radical rethinking of the way to fight global poverty

Why do the poorest people in the Indian state of Maharashtra spend 7 percent of their food budget on sugar?
Why is it so hard for children in poor areas to learn even when they attend school?
Why would a man in Morocco who doesn’t have enough to eat buy a television?
Does having lots of children actually make you poorer?
For more than fifteen years, the authors Banerjee and Duflo worked with the poor in dozens of countries
spanning five continents, trying to understand the specific ..(1).. that come with poverty and to find
proven solutions. Their book is radical in its rethinking of the economics of poverty, but also entirely ..(2).. in the
suggestions it makes. Through careful ..(3).. of a very rich body of evidence, including the hundreds of
randomized control trials that Banerjee and Duflo’s lab has pioneered, they show why the poor - ..(4).. having
the same desires and abilities as anyone else - end up with entirely ..(5).. lives.
Through their work, Banerjee and Duflo ..(6).. some of the most surprising facets of poverty: why the poor need
to ..(7).. in order to save, why they miss out on free life-saving immunizations but buy medicines that they do
not ..(8).. , why they start many ..(9).. but do not grow any of them, and many other puzzling facts about living
with less than 99 cents per day. The book argues that so many anti-poverty ..(10).. have failed over the years
because of an inadequate understanding of poverty. The battle against poverty can be won, but will take
patience, careful thinking and a willingness to learn from evidence.
©pooreconomics.com

1 A responsibilities B problems C causes D disadvantages

2 A practical B dramatic C hypothetical D efficient
3 A selection B elaboration C analysis D testing
4 A when B if C also D despite
5 A identical B different C unique D wealthy
6 A look at B inform C advertise D write
7 A speculate B borrow C lend D invest
8 A take B need C want D prescribe
9 A societies B careers C failures D businesses
10 A concepts B parties C contracts D policies

Poor Economics Exercise 1

Match the beginnings and endings of these money quotations.
1 A bank is a place that will lend you money,
2 If you want to know what God thinks of money,
3 It is hard to tell what brings happiness -
4 Money is better than poverty,
5 Money talks, so they say -
6 The safest way to double your money
7 There’s one thing money can’t buy -
 all it ever said to me was ‘Goodbye’. (Cary Grant)
 and that’s poverty. (John Lennon)
 if only for financial reasons. (Woody Allen)
 if you can prove you don't need it. (Bob Hope)
 is to fold it and put it in your pocket. (Kin Hubbard)
 just look at the people he gave it to. (Dorothy Parker)
 poverty and wealth have both failed. (Kin Hubbard)
Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

The Glass Ceiling

The phrase ‘glass ceiling’ refers to an invisible barrier ..(1).. someone from achieving further success. It is most
often heard in the context of women who cannot advance to the highest levels of power in the workplace, or
achieve power and success equal to that of men. The metaphor comments on an employee’s rise up the ..(2)..
of a hierarchical organization: workers climb higher as they get promotions, pay ..(3).. , and other opportunities.
In theory, nothing prevents women from rising as high as men; and after the Women’s Liberation movement
and Civil Rights legislation of the 1960s, many people feel that such ..(4).. is a thing of the past. However, in
practice, there are ..(5).. barriers, and instead of being able to achieve the same success as a man, a woman is
often stopped by invisible forces that prevent her from rising ..(6).. . Although the Women’s Liberation
movement opened many doors, many women remain frustrated that they are the ones required to make
sacrifices in order to balance family life with a ..(7).. . Other practical glass-ceiling matters include ..(8).. pay rates
and the idea that women lose out on involvement in an organization if they take maternity leave. In the 1960s,
overt sexism in the workplace was commonplace and frequently accepted, vacancies for men’s jobs and
women’s jobs were ..(9).. separately, and feminists recall letters of reference in which their looks
were commented on. ..(10).. such behaviours seem long gone, a frustrating thing about the glass ceiling is that
it is not overt, and instead of being a tangible barrier - which might be easier to ..(11).. - glass-ceiling sexism in
the workplace persists in more subtle ways.
©womenshistory.about.com

1 A avoiding B preventing C delaying D intercepting

2 A orders B rows C lines D ranks
3 A increases B packets C deals D freezes
4 A treatment B barbarism C discrimination D injustice
5 A no B few C but D still
6 A visibly B further C along D laterally
7 A company B target C career D sabbatical
8 A unequal B overtime C untaxed D undeclared
9 A printed B advertised C included D read
10 A So B Indeed, C Despite D Although
11 A approve B imagine C identify D welcome
Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

Mary Poppins (1964): why banking is all about confidence

Few people would associate this Disney film with economics. But it contains a scene that gives an excellent
summary of the nature of modern banking: the one where young Michael visits the Fidelity Fiduciary bank,
where his father works. The bank chairman tries to ..(1).. the boy to deposit his 2d. coin in the bank so that it
can be invested in railways through Africa, dams ..(2).. the Nile, and other fantastic investment projects.
Michael is unconvinced, and doesn’t want to give up his coin, but the chairman is able to snatch it.
“Give me back my money!” Michael shouts, prompting other customers to ..(3).. that something is wrong and to
..(4).. their deposits back, thus creating a run on the bank - just as we saw at Northern Rock branches in 2007.
The scene illustrates how banks depend on maintaining the confidence of their ..(5).. . Like all other banks,
the Fidelity Fiduciary had made a promise it could not keep: to pay its depositors cash on demand, when actually
it had enough to pay only a proportion of them. This is usually not a problem - at any given time, only a small
proportion of depositors would want to ..(6).. their money, so it is safe for the bank to hold in cash only a
fraction of the amount in its deposit accounts. But if depositors begin to doubt the bank’s ..(7).. to pay them
back, they have the incentive to take out their money as soon as possible. Even if the doubts are totally
unfounded (as in Mary Poppins), if ..(8).. account holders think and act in this way, the bank’s inability to pay
will become a self-fulfilling prophecy. This ‘confidence problem’ led to the ..(9).. of central banks, which can
lend to banks in trouble, and of public deposit insurance: measures intended to give depositors more
confidence in the banks and thus ..(10).. the banking system.
©the guardian.com

1 A persuade B force C tell D cause

2 A under B over C across D along
3 A know B fear C prove D deny
4 A request B refuse C decline D demand
5 A debtors B depositors C gamblers D currents
6 A change B count C withdraw D check
7 A ability B inclination C attitude D funds
8 A only B few C insolvent D enough
9 A development B heart C movement D policy
10 A overturn B stabilise C bypass D unify

Mary Poppins Exercise 1 Mary Poppins Exercise 2

Do these verbs go with What are the noun forms of these verbs?
‘time’, ‘money’ or both?

deposit - fritter away - invest 0 deposit deposit

kill - lose - save - spend 1 demand
waste - withdraw 2 doubt
3 insure
save time 4 lend
5 maintain
6 promise

save money
Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

Erin Brockovich (2000): how to measure environmental cost

A hit in 2000, this stars Julia Roberts, who won an Oscar for her role as an unemployed single
mother of two who ..(1).. to get a job as a legal assistant in a California law firm. There, she stumbles on
files about the unethical ..(2).. of a power company which was buying up land it had ..(3).. by illegally dumping
hexavalent chromium. This was poisoning the water supply of residents and making them seriously ill.
Albert Finney is the hard-up boss of the law ..(4).. who agrees to take the case on. Against all odds, they end up
winning a class action lawsuit against Pacific Gas and Electric (PG&E) on behalf of their ill clients. We all love
conspiracy films, but this was no Hollywood ..(5).. : Erin exists and, ..(6).. , in 1996, she won $333m from
PG&E for her clients. The film highlighted a real economic issue: the difficulty of markets in putting a price
on the ..(7).. of a company’s core activity on the wider ..(8).. . In economics, this is known as the problem of
measuring ‘externalities’. Pollution, congestion, noise, climate change, community displacement and
unrest fall into that category, and what isn’t measured ..(9).. to be ignored. Some progress in this area has
been made: since the film’s release, companies have come under increased scrutiny for their business ..(10).. ,
and Corporate social responsibility has become something that companies espouse, at least publicly. But a lot
more needs to be done, and the business imperative is clear. Today, ..(11).. social media and 24/7 news,
allegations of a company’s failure to ..(12).. required standards travel instantly round the world.
The result can be global boycotts of products, ..(13).. in share values, chief executives losing their jobs and,
at times, companies that have been around for decades, if not centuries, going under - think Enron,
think Arthur Andersen, and many more.
©the guardian.com

1 A needs B agrees C tries D manages

2 A behaviour B intention C habit D approach
3 A improved B purchased C farmed D contaminated
4 A agent B firm C office D venture
5 A blockbuster B fiction C film D show
6 A so B indeed C accordingly D meanwhile
7 A impact B cause C reason D price
8 A area B country C environment D nation
9 A needs B has C ought D tends
10 A ideas B plans C ethics D contracts
11 A thanks to B because C without D despite
12 A improve B test C meet D use
13 A rises B stability C falls D increases

Erin Brockovich Exercise 1

Business ethics - what’s that!? In each situation below
you have a choice of action - decide, then check the key.
A colleague suggests that the easiest way to find
out what a major competitor is doing is to offer If you agree, see A
1
a sum of money to one of their staff to secretly If you refuse, see D
take photographs of their production processes.
The manager of a foreign subsidiary explains that to
get planning permission quickly to build a new If you agree, see B
2
factory, a few cash ‘presents’ to local officials will If you refuse, see E
be necessary: $10,000 will save a year of red tape.
A major competitor is about to make a product using
a revolutionary new production process. A colleague
3 suggests you advertise for a Production Manager - If you agree, see C
even though the job is not available, in the hope that If you refuse, see F
someone on the competitor’s staff might apply and
give you some useful information in an interview.
Choose the best alternative for each numbered space. Write one letter - A, B, C or D - in the relevant box:

The Ig Nobel Prizes

Since 1990, these have honoured achievements which first make people laugh, and then make them think.
The prizes are intended to celebrate the unusual, honour the imaginative, and spur people’s interest in science,
medicine, and technology.
Ig Nobel Peace Prize winners over the years include:
th
1996 Jacques Chirac, President of France, for commemorating the 50 anniversary of Hiroshima with atomic
bomb ..(1).. in the Pacific.
2000 The Royal Navy, for ordering its sailors to stop ..(2).. live cannon shells, and to instead just shout “Bang!”
2007 The US Air Force Laboratory in Dayton, Ohio, for suggesting the research and ..(3).. of a ‘gay bomb’, which
would cause enemy troops to become sexually attracted to each other.
2013 Joint winners: Alexander Lukashenko, President of Belarus, for making it illegal to applaud in public, and
the Belarus State Police, for ..(4).. a one-armed man for doing so.
Ig Nobel Economics Prize winners include:
1991 Michael Milken, titan of Wall Street and father of the junk bond, to whom the world is, truly, ..(5).. .
1994 Juan Dávila of Chile, trader of financial futures and ..(6).. employee of the state-owned company Codelco,
for instructing his computer to ‘buy’ when he meant ‘sell’. He then tried to recoup his ..(7).. by making
increasingly unprofitable trades that ultimately lost 0.5% of Chile's ..(8).. . Davila’s achievement inspired Chileans
to coin a new verb, davilar, meaning “to botch things up on a grand scale”.
2009 The directors, executives, and auditors of four Icelandic banks, for demonstrating that tiny banks can be
rapidly transformed into huge banks - and vice versa. And for demonstrating that similar things can be done to
an entire national ..(9).. .
2014 ISTAT (the Italian government’s National Institute of Statistics), for proudly taking the lead in fulfilling
the EU mandate for each country to increase the official ..(10).. of its national economy by including
revenues from prostitution, illegal drug sales, smuggling, and all other unlawful financial transactions between
willing participants.
©www.improbable.com

1 A tests B operations C campaigns D attacks

2 A exploding B recycling C neutralising D using
3 A creation B application C use D development
4 A arresting B deporting C criticising D applauding
5 A grateful B welcome C indebted D titanic
6 A former B top C promoted D consultant
7 A mistakes B programs C error D losses
8 A GPL B GDP C GBP D GCP
9 A plan B economy C program D bank
10 A size B position C wealth D numbers

Ig Nobel prizes Exercise 1

Can you correctly complete the 2016 Ig Nobel Prize information below?
 Biology was (jointly) won by a British man who lived for three days
in the Alps as a .. giant marmot - snowman - marijuana plant - goat.
 Chemistry was won by .. VW - Chiquita - the Russian Olympic Committee - NASA.

 Economics was awarded for assessing, from a sales and marketing perspective,
the perceived personalities of .. chocaholics - secret agents - rocks - Sales and Marketing gurus.
 Peace was awarded for a study on The Reception and Detection of ..
Whistleblowers - Pseudo-Profound Bullshit - Intelligence in Reality Show Audiences - Dragons & Other Fantastic Creatures.
Charlie and the Chocolate Factor
1 A finds B applies for C loses D defends C
2 A patented B invented C sold D replaced B
3 A cyclical B natural C seasonal D technological D
4 A professions B tasks C duties D careers A
5 A any B the C old D most C
6 A will B cannot C can D must B
7 A exclude B prove C want D mean D
8 A benefit B money C loans D charity A
9 A interest-free B technical C income D psychological C
10 A retraining B condition C salary D ex-company A

Charlie and the Chocolate Factory Exercise 1 Charlie and the Chocolate Factory Exercise 2
1 graduate unemployment 1 employ > employment
2 long-term unemployment 2 innovate > innovation
3 mass unemployment 3 destroy > destruction
4 youth unemployment 4 train > training
5 unemployment benefit 5 develop > development
6 unemployment figures 6 subsidise > subsidy
7 unemployment rate 7 provide > provision

Giving Presentations
1 A While B Then C But D So A
2 A universal B positive C separate D general D
3 A list B content C aims D sounds B
4 A less B first C rather D before C
5 A secondary B fascinating C bullet D main D
6 A misunderstand B remember C ignore D consider B
7 A choosing B digitalising C downloading D preparing A
8 A need B try C want D expect C
9 A equipment B machines C effects D results A
10 A extra B important C external D internal B
11 A work B take C put D test D

Giving Presentations Exercise 1 Giving Presentations Exercise 2

1 better > worse 1 presentation > present
2 sophisticated > unsophisticated 2 reliance > rely
3 first > last 3 equipment > equip
4 unusual > usual 4 focus > focus
5 remember > forget 5 identification > identify
6 carefully > carelessly 6 choice > choose
Travel
1 A tourists B guests C members D staff B
2 A chefs B help C service D waiters C
3 A assistants B crew C salespeople D staff D
4 A criteria B needs C responsibilities D targets B
5 A dealers B employers C travellers D voyagers C
6 A buildings B facilities C machines D tools B
7 A contracts B lectures C presentations D speeches C
8 A location B place C site D venue A
9 A road B street C traffic D transport C
10 A arrive B go C get D reach D
11 A airport B departure C check-in D flight D

Travel Exercise 1 Travel Exercise 2

1 UK Economics undergraduates do a three-year course.  identify the needs  gain time
2 It’s a two-hour flight from Malpensa to Lisbon.  meet the needs  kill time
3 Some UK hospital operations now have six-month waiting lists.  serve the needs  lose time
4 In France, they have a 35-hour working week.  support the needs  save time
5 Seven-year itch is ‘marital wanderlust’ after as many years.  understand the needs  spend time
6 The first four-minute mile was run by Roger Bannister in 1954.  waste time

Introducing change
1 A signal B deterrent C stimulus D threat D
2 A violence B resistance C humour D persistence B
3 A morale B awareness C ignorance D reason B
4 A incentive B costs C purpose D success C
5 A involvement B resistance C non-participation D monitoring A
6 A time B role C activity D process D
7 A democratic B caring C hierarchical D market-driven C
8 A teams B offices C companies D sections A
9 A supportive B preventive C rigid D disciplined A
10 A education B training C measures D downsizing B
11 A belief B truth C faith D trust D

Introducing change Exercise 1 Introducing change Exercise 2

neutral negative 1 criticism > critical
 effect change  avoid change 2 introduce > introductory
3 perceive > perceptive
 facilitate change  counteract change
4 self-confidence > self-confident
 initiate change  impede change
5 stability > stable
 make change (s)  obstruct change 6 decision > decisive
 produce change  resist change 7 react > reactive
Company choices
1 A adapt B spend C go over D research A
2 A democratic B economical C hierarchical D welcoming C
3 A channels B media C roads D webs A
4 A buyers B representatives C directors D staff D
5 A design B goals C plan D sales B
6 A bureaucratic B caring C decentralised D market-driven A
7 A hearsay B information C news D speech B
8 A impersonal B local C professional D static B
9 A economies B marketing C production D savings A
10 A call B demand C enquire D respond D
11 A leaders B research C sectors D shares C
12 A advertising B distribution C manufacturing D selection B

Company choices Exercise 1 Company choices Exercise 2

  1 black market
2 niche market
1 contact 1 control
3 parallel market
2 culture 2 degree
4 single market
3 frequent 3 demands
5 market failure
4 recent 4 extent
6 market follower
5 second 5 remain
7 market leader
8 market trend

The Full Monty

1 A sometimes B mainly C hardly D unusually B
2 A expansion B growth C decline D action C
3 A low B widespread C female D youth B
4 A practical B conservative C standard D general C
5 A sales B competition C investments D subsidies B
6 A invest B lose C release D compensate C
7 A acquired B retrained C updated D absorbed D
8 A point B question C theory D answer A
9 A experience B qualification C CV D knowledge A
10 A skills B people C products D methods A
11 A want B demand C welcome D face D

The Full Monty Exercise 1 The Full Monty Exercise 2

1 efficient > inefficient /s/ /z/
2 full > empty 1 banks 1 in the mid-90s
3 jobless > employed 2 investments 2 jobs
4 less > more 3 jobless machines
3
5 remembered > forgotten
4 products 4 sometimes
6 theory > practice
5 thus 5 workers
Leadership
1 A contract B relationship C report D friendship B
2 A empathy B charisma C passion D sympathy A
3 A report B solve C consider D study B
4 A creating B changing C regulating D restoring A
5 A achievements B salaries C lives D performance D
6 A strengthening B persuading C micromanaging D empowering D
7 A rebuilds B gains C restores D wins B
8 A do B want C make D support C
9 A work B score C achieve D defend C
10 A energy B blame C paperwork D authority D
11 A vision B sight C view D scope A
12 A reveal B suggest C communicate D transfer C

Leadership 1 “Team-building is one of the top priorities of ..”

1 One of the top priorities of the restaurant industry is food safety.
2 One of the top priorities of system administrators is data security.
3 One of the top priorities of holidaymakers is shopping for souvenirs.
4 One of the top priorities of students is academic achievement.
5 One of the top priorities of hospitals all over the world is optimising patient care.
6 One of the top priorities of investigators after an aviation accident is finding the black boxes.

Leadership 2
1 hardship : something causing or involving suffering or poverty.
2 relationship : way in which two or more people or things are connected.
3 gamesmanship : art of winning games by using dubious but technically legal tactics.
4 friendship : for cynics, ‘a ship big enough for two in good weather; for just one in bad’.
5 partnership : business organization where two or more individuals manage and operate the business.
6 internship : official or formal program to provide practical experience for beginners in an occupation or profession.

Wall Street
1 A modern B traditional C typical D official A
2 A competitors B shareholders C banks D governments B
3 A opposition B admiration C equity D support D
4 A intention B hope C position D resource A
5 A open B sell C downsize D develop D
6 A dawn B edge C heart D epicentre C
7 A money B votes C pressure D information C
8 A developments B takeovers C criticisms D explanations C
9 A only B especially C financially D exclusively B
10 A refused B decided C stopped D chosen C
11 A high B guaranteed C significant D long-term D

Wall Street Exercise 1

1 Broadway 5 Abbey Road
2 Sesame Street 6 The Yellow Brick Road
3 Via Verdi 7 Nevsky Prospekt
4 Lombard Street 8 Skid Row
Conspiracy of Fools
1 A crisis B collapse C prospects D decline B
2 A tips B fees C tolls D fines B
3 A burning B cooking C washing D ironing B
4 A vigilantes B lawmen C guards D lawyers D
5 A regulated B implemented C ignored D wanted C
6 A previously B dishonestly C theoretically D actually D
7 A once B both C twice D efficiently B
8 A prizes B bonuses C costs D taxes B
9 A losses B errors C miscalculations D prices A
10 A imploded B disintegrated C deflated D downsized A

Conspiracy of Fools Exercise 1 Conspiracy of Fools Exercise 2

1 insider trading  1 cost accounting
2 honey trapping  2 creative accounting
3 identity theft  3 financial accounting
4 money laundering  4 tax accounting
5 confidence tricks  5 accounting error
6 drink driving  6 accounting fraud
7 price fixing  7 accounting method
8 cloze tests  8 accounting policy
9 Ponzi schemes  9 accounting software

Up in the Air
1 A owned B sponsored C outsourced D employed D
2 A assess B fire C hire D interview B
3 A time B funds C nerve D inability C
4 A news B reports C forecasts D information A
5 A benefit B challenge C phase D privilege B
6 A sophisticated B easy C clear D complicated D
7 A redundant B indispensable C useful D cheaper A
8 A theories B concepts C techniques D conversations C
9 A back-to-back B face-to-face C eye-to-eye D cheek-to-cheek B
10 A learning B forming C training D recruiting C
Up in the Air Exercise 1 Up in the Air Exercise 2
1 find out why person has left Any one on its own might be a good
2 examine job description enough reason - but if all are true,
3 advertise position
the sooner you leave, the better.

4 make short list

5 interview candidates
6 appoint someone.
Poor Economics
1 A responsibilities B problems C causes D disadvantages B
2 A practical B dramatic C hypothetical D efficient A
3 A selection B elaboration C analysis D testing C
4 A when B if C also D despite D
5 A identical B different C unique D wealthy B
6 A look at B inform C advertise D write A
7 A speculate B borrow C lend D invest B
8 A take B need C want D prescribe B
9 A societies B careers C failures D businesses D
10 A concepts B parties C contracts D policies D

Poor Economics Exercise 1

1 A bank is a place that will lend you money, if you can prove you don't need it. (Bob Hope)
2 If you want to know what God thinks of money, just look at the people he gave it to. (Dorothy Parker)
3 It is hard to tell what brings happiness - poverty and wealth have both failed. (Kin Hubbard)
4 Money is better than poverty, if only for financial reasons. (Woody Allen)
5 Money talks, so they say - all it ever said to me was ‘goodbye’ (Cary Grant)
6 The safest way to double your money is to fold it and put it in your pocket. (Kin Hubbard)
7 There’s one thing money can’t buy - and that’s poverty. (John Lennon)

The Glass Ceiling

1 A avoiding B preventing C delaying D intercepting B
2 A orders B rows C lines D ranks D
3 A increases B packets C deals D freezes A
4 A treatment B barbarism C discrimination D injustice C
5 A no B few C but D still D
6 A visibly B further C along D laterally B
7 A company B target C career D sabbatical C
8 A unequal B overtime C untaxed D undeclared A
9 A printed B advertised C included D read B
10 A So B Indeed, C Despite D Although D
11 A approve B imagine C identify D welcome C

Mary Poppins
1 A persuade B force C tell D cause A
2 A under B over C across D along C
3 A know B fear C prove D deny B
4 A request B refuse C decline D demand D
5 A debtors B depositors C gamblers D currents B
6 A change B count C withdraw D check C
7 A ability B inclination C attitude D funds A
8 A only B few C insolvent D enough D
9 A development B heart C movement D policy A
10 A overturn B stabilise C bypass D unify B

Mary Poppins Exercise 1

fritter away / invest / kill / lose / spend / waste time
deposit / fritter away / invest / lose / spend / waste / withdraw money
Mary Poppins Exercise 2
1 demand 2 doubt 3 insurance 4 loan 5 maintenance 6 promise
Erin Brockovich
1 A needs B agrees C tries D manages D
2 A behaviour B intention C habit D approach A
3 A improved B purchased C farmed D contaminated D
4 A agent B firm C office D venture B
5 A blockbuster B fiction C film D show B
6 A so B indeed C accordingly D meanwhile B
7 A impact B cause C reason D price A
8 A area B country C environment D nation C
9 A needs B has C ought D tends D
10 A ideas B plans C ethics D contracts C
11 A thanks to B because C without D despite A
12 A improve B test C meet D use C
13 A rises B stability C falls D increases C

Erin Brockovich Exercise 1

A Industrial espionage is unethical, illegal - and for losers.
B Paying someone to ensure a necessary service is not the same as bribing companies
or politicians to win contracts, and is sometimes necessary. But you’ll have to think
of something else to write in the company accounts than ‘Bribes: $10,000’.
C Why not? Nobody’s forcing anyone to apply for the job or to be indiscreet.
D Quite right - you would be encouraging someone to break the law.
E You have cost your company more than $10,000 by refusing to comply with a local custom.
F This is not illegal, and if your competitor’s employees give away secrets, they
are guilty, not you. Besides, your competitor could make them sign contracts
forbidding them to work for you within a year of leaving their company.

The Ig Nobel Prizes

1 A tests B operations C campaigns D attacks A
2 A exploding B recycling C neutralising D using D
3 A creation B application C use D development D
4 A arresting B deporting C criticising D applauding A
5 A grateful B welcome C indebted D titanic C
6 A former B top C promoted D consultant A
7 A mistakes B programs C error D losses D
8 A GPL B GDP C GBP D GCP B
9 A plan B economy C program D bank B
10 A size B position C wealth D numbers A

Ig Nobel prizes Exercise 1

 Biology was (jointly) won by a British man who lived for three days in the Alps as a goat.
 Chemistry, by VW.
 Economics, for assessing, from a sales and marketing perspective, the perceived personalities of rocks.
 Peace, for a study on ‘The Reception and Detection of Pseudo-Profound Bullshit’.