Brief topics for English exams
1. Economic models and Investment
This topic is divided into two parts: economic models and investment. First of all I want to tell you about economic models. There are a lot of economic models and each of them has advantages and disadvantages. Economic model is a theoretical construct that represents economic processes by a set of logical relationships between them. There are some most famous economical models: the American model has such good points as flexible labour and product markets, low taxes and shareholder capitalism, which puts pressure on managers to maximize profits. Also this model has bad points such as wide income inequalities, low welfare benefits, low investment and very low savings rate. The Japanese model has also best and worst features. The best ones are life-time employment encouraged high skill levels, public services of high quality, close relations between banks and other firms. The worst features are firms sheltered from the full force of the market feel little pressure to use capital efficiently. East Asian model: actually, there is no unit model, because they have, for example liberal Hong-Kong and heavy handed South Korea. But they all have openness to trade and pretty high savings. These are advantages of The East Asian model. But deepened corruption in every sphere of economy is disadvantage of this model. Excellent education, a generous welfare state and close relations between firms and banks assist high investment are good points of the German social-market model. Bad points are high taxes, product market restrictions which have led to persistently high unemployment. Once advertised the Swedish model as a “third way” between capitalism and socialism. The Swedish model has such best features as relatively open markets combined with a comprehensive welfare state and also worst, for example, rising inflation and recession increased the budget deficit, also high personal blunted incentives to work. And the last model is New
This topic is divided into two parts: economic models and investment. First of all I want to tell you about economic models. There are a lot of economic models and each of them has advantages and disadvantages. Economic model is a theoretical construct that represents economic processes by a set of logical relationships between them. There are some most famous economical models: the American model has such good points as flexible labour and product markets, low taxes and shareholder capitalism, which puts pressure on managers to maximize profits. Also this model has bad points such as wide income inequalities, low welfare benefits, low investment and very low savings rate. The Japanese model has also best and worst features. The best ones are life-time employment encouraged high skill levels, public services of high quality, close relations between banks and other firms. The worst features are firms sheltered from the full force of the market feel little pressure to use capital efficiently. East Asian model: actually, there is no unit model, because they have, for example liberal Hong-Kong and heavy handed South Korea. But they all have openness to trade and pretty high savings. These are advantages of The East Asian model. But deepened corruption in every sphere of economy is disadvantage of this model. Excellent education, a generous welfare state and close relations between firms and banks assist high investment are good points of the German social-market model. Bad points are high taxes, product market restrictions which have led to persistently high unemployment. Once advertised the Swedish model as a “third way” between capitalism and socialism. The Swedish model has such best features as relatively open markets combined with a comprehensive welfare state and also worst, for example, rising inflation and recession increased the budget deficit, also high personal blunted incentives to work. And the last model is New