Unit 2 Economics
I Teaching Objectives
After learning Unit 2, students (Ss) are expected to develop the following academic skills and knowledge:
II Teaching Activities and Resources
Reading
Text A
Lead-in
Teaching Steps
金丝线
Ask Ss to work in pairs and do the task in Lead-in. Then invite veral Ss to share their answers with the whole class.
开运金生
Answer Keys
1.The invisible hand.
2.Our economic life is made possible by the skill and labor of vast numbers of total
strangers.The activities of countless far-flung men and women have to be intricately choreographed and precily timed. However, no one coordinates it, and yet they do cooperate. It’s “the invisible ha
nd” —the mysterious power that leads innumerable people, each working for his own gain, to promote ends that benefit many. Out of the eming chaos of millions of uncoordinated private transactions emerges the spontaneous
Text Analysis
Teaching Steps
1.Overview
Ask Ss to preview Text A before class. Or, allocate some time for Ss to read the text quickly in class. Then invite veral Ss to summarize the main idea of Text A.
2.In-Depth Analysis
1)Show Ss the following words and ask them to contribute to the class as much
as possible with what they know about the words. Provide additional information in Supplementary Information when necessary.
•the invisible hand
•free-market economy
•economic downturn
•An Inquiry into the Nature and Caus of the Wealth of Nations
2)Explain some important language points in Language Support to Ss.
3)Discuss with Ss the invisible hand in the author’s eyes by doing Task 1 in
Critical reading and thinking.
4)Organize a group discussion about the questions from Task 2 in Critical
reading and thinking. Encourage Ss to think independently, critically and creatively and share their ideas with each other.
Supplementary Information
1.free-market economy
In a free market economy, the laws and forces of supply and demand, rather than a central government, regulate production and labor. The prices for goods and rvices are lf-regulated by buyers and llers negotiating in an open market.
Most companies and resources are not owned by the state. Instead, they are owned by private individuals or entities who are free to trade contracts with each other. 2.economic downturn
An economic downturn is a general slowdown in economic activity over a sustained period of time. It occurs when the value of stocks, property, and commodities fall, productivity either grows more slowly or declines, and GDP shrinks, stands still or expands more slowly. It can happen in a specific region (e.g.
银行转账the Asian financial crisis in the late 1990s) or on a global scale (e.g. the global financial crisis in the late 2000s). The main features of an economic downturn include rising unemployment, falling share and hou prices, low consumer confidence and declining investment.
4．An Inquiry into the Nature and Caus of the Wealth of Nations（《国富论》）An Inquiry into the Nature and Caus of the Wealth of Nations, usually abbreviated as The Wealth of Nations, is Adam Smith’s masterpiece. It was first published in 1776, and is widely considered to be the first modern work in economics. Through reflection over the economics at the beginning of the
Industrial Revolution, the book touches upon broad topics such as the division of labor, productivity and free markets.
Language Support
1.Individual buyers and llers will act according to what is in their own best
interests. (Para. 2)夫妻吵架图片
The phra “in one’s interest” means “for one’s benefit or advantage”（为了……
的利益；为……着想）. There are some relevant expressions, such as “in the interest of one”, “in one’s own interest”, and “in one’s best interest”.
< It’s obviously in their interest to increa profits.
I suspect it’s in your own best interest to quit now.
2.Customers are likewi typically looking out for their lf-interests. (Para. 4)
The word “likewi” is ud to signal a comparison that explains how things are similar（同样的；此外）.
< In this episode, we will likewi deal with another extremely common八大山人作品
question.
Just water the plants twice a week, and likewi the ones in the bedroom.
Other special words and expressions are often ud to signal the comparison of two or more people, places, things, ideas, etc. Here are some examples of the signposts for your reference:
雨韵similarly, both, just as, and also, remble, parallel, in the same manner, in
the same way, alike, equally
3.The market becomes more efficient as buyers and llers move in the same
direction—as if directed by an invisible hand. (Para. 5)
这里的as if用于省略句。如果as if 引导的从句是“主语＋系动词”结构，可省略主语和系动词，这样as if 后就只剩下名词、不定式、形容词（短语）、介词短语或分词。
< She left the room hurriedly as if (she was) angry.
Tom raid his hands as if (he was going) to say something.
4.Both the supporters and critics of the invisible hand theory can influence the
way that nations tackle economic downturns. (Para. 8)
这里的the way是先行词，其后是that引导的定语从句。先行词是the way 时，其后定语从句的引导方式有三种：
1)the way + that
< I like the way that the teacher gives his lessons.
2)the way + in which
< I don’t like the way in which he speaks to me.
3) the way + 从句（省略了that或in which）
< There were veral theories about the way the fire started.
5.Tho who believe in the invisible hand are more likely to favor a hands-off
or laisz-faire approach by the government regardless of the condition of the economy. (Para. 9)
regardless of: without taking into account 不管；不顾
< He jogs every day regardless of the weather.
The club welcomes all new members regardless of age.
Answer Keys
Critical reading and thinking
Task 1 / Overview
Task 2 / Points for discussion (Suggested Answers)
Market has its own way of punishing business malpractices. For example, if a fast food chain lls contaminated food, nation-wide demand for their food will go down, along with their profit. When a company lls defective products, they have to deal with liability costs.
Language building-up
Answer keys
Task 1 / Specialized vocabulary
1
新乡学院地址
1 看不见的手
2 公共利益
3 存货
4 购买
5 定价过高
6 经济衰退
7 垄断的兴起8 关注自身利益风字的成语
2
1 priced
2 stock
3 gain
4 monopoly
5 the invisible hand
6 purchas
7 economic downturn 8 public interest
