THURSDAY, OCTOBER 24 th, 2009
G
R
T
E
E
I
N
G
HELLO, EVERYBODY…
HI, …
HI, …
HI, …
HI, …
Economy of the United States
GDP :
GDP $14.441 trillion
(2008)
GDP growth0.4% (2008)
GDP per capita$47,422 (2008) (10th)
GDP by sector
agriculture (0.9%), industry (20.6%), services (78.5%)

Currency:United States Dollar (USD)

Trade organizations: NAFTA, WTO, OECD,G-20 and others
Main industries : petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, creative industries, electronics, food processing, lumber, mining, defense
Main export partners : Canada, 21.4%; Mexico, 11.7%; China, 5.6%; Japan, 5.4%; Germany 4.3%; United Kingdom, 4.1%
Main import partners : China, 16.9%; Canada, 15.7%; Mexico, 10.6%; Japan, 7.4%; Germany, 7.4%.
THURSDAY, SEPTEMBER 24th, 2009
American culture
Basic ingredient of the U.S economy
Changes over times
The situation today
THE AMERICAN ECONOMY
CONTENT
The free enterprise system
The stock market
Additional shipping access

Fertile farm soil
Mobility
Labor-force quality
productivity
Moderate climate
Available workers
Mineral resources
Extensive coastline
AMERICAN ECONOMY

- mineral resources
- mobility
- productivity
- fertile farm soil
- moderate climate
- Labor force quality
- Extensive coastline
- Available workers
- additional shipping access
Put the phrases above into the suitable columns
1.Basic ingredient of the U.S economy
Rich in mineral resources and fertile farm soil
- A moderate climate
- Extensive coastline on both the Atlantic and Pacific, as well as on the Gulf of Mexico.
- Rivers flow from far within the continent and the Great Lake provide additional shipping access. These extensive waterways have helped shape the country’s economic growth over years.
Natural
Resources

Labor force : 155 million (includes unemployed) (2008)
Labor force by occupation:
- managerial and professional (35.5%),
- technical, sales and administrative support (24.8%),
- services (16.5%),
- manufacturing, mining, transportation, and crafts (24%),
Facts about American labor
Convert natural resources into goods
- Available worker and productivity: help determine the health of an economy
- labor mobility
- labor-force quality
American labor market has attracted immigrants from all over the world and has one of the world’ s higest migration rates.
labor
1.the quality of available worker

how hard people are willing to work and how skilled they are
-hard working is known as the Protestant work ethic
-a strong emphasis on education, including technical and vocational training
Contribute to America`s economic success
2.labor mobility

It has been important to the capacity of the American economy to adapt to changing conditions
Ex: when immigrants flooded labor markets on the east coast, many workers moved inland, often to farmland waiting to be tilled
3.labor force quality

Government leaders and business officials increasingly stress the importance of education and training to develop workers with the kind of nimble minds and adaptable skills
But natural resources and labor account for only part of an economic system.
These resources must be organized and directed as efficiently as possible
Chief excutive : tổng thống
Boardroom :phòng họp ban điều hành
Foreman: viên quản đốc
Systematic analysis: sự phân tích có hệ thống
Hierarchy (n) tính thứ bậc
Inhibit (v) kiềm hãm
Interdisciplinary (a) thuộc nhiều lãnh vực
Traditional managerial structure
(based on a top-down chain of command)

various lower levels
of management
Foreman
(on the shop floor)
Chief excutive
(in the boardroom)
make sure that the entire business runs smoothly and efficiently
coordinating different parts of the enterprise
This specialization or division of labor is called “ scientific management”
Why American businesses seek more flexible organization structures, especially in high-technology industries?
Disadvantages of traditional structure: excessive hierarchy and division of labor have inhibited the creativity
Facing heightened global competition
So they are seeking another structure that employ skilled workers and must develop, modify, and even customize products rapidly by reducing the number of managers and delegating more authority to interdisciplinary teams of workers
What makes American economy develop rapidly?
Question for you
Answer
1. Vast natural resources, vast areas of highly productive farmlands
2. Vast labor resources
3. A large unified markets
4. A supportive political legal system
5. An entrepreneurial spirit
6. Commitment to investing in material and human capital
7. Able to exploit resources due to a unique set of institutions designed to encourage exloration and extraction.
What are corporations?
an effective device for accumulating the funds
have financial resources
corporations
a voluntary association of owners
Where are corporations able to have necessary capital?
- by selling stock or bonds to insurance companies, banks, pension funds, individuals, and other investors.
- some institutions, especially banks also lend money directly to corporations or other business enterprises.
Federal and state government have developed detailed rules and regulations to ensure the safety and soundness of this financial system and to foster the free flow of information so investors can make well-informed decisions.
The U.S economy is based on the free enterprise system
Since the depression of the 1930s, when the economy essentially collapsed, laws have been made giving the government a more active role.
2.the free enprise system
the second half of the last century
1995
civil war
1950s and 1960s
the U.S was a mainly agricultural nation
agricultural exports exceeded imports by nearly two to one
helped stimulate industry, industrialization transformed the country
grew rapidly
had the greatest productive capacity of any country in the world
economic growth began to slow down
By the end of WW II
mid 1970s
3.Changes over times
There had been a shift from agriculture to industry
and now from industry to services
Matching the time from column A to the suitable sentences in column B
the second half of the last century
1995
Civil war
1950s and 1960s
By the end of WW II
Mid 1970s
a. the U.S was a mainly agricultural nation
b. agricultural exports exceeded imports
by nearly two to one
c. had the greatest productive capacity
of any country in the world
d. grew rapid
e. helped stimulate industry,
industrialization transformed the country
economic growth
f. began to slow down




Questions for you
ANSWER: 1-A ; 2-B ; 3-E ; 4-D ; 5-C ; 6-F


It is a public market for trading of company stock and derivatives at an agreed price
Stock market = stock exchange
4.The stock market
What is the stock market?
company
right to vote on
members of board
of directors
A part owner
Of company
you
share
Receive profits
issue
Raise the money
sell
Stock market
Entrepreneur (n) nhà thầu khoán
Bond (n) công trái
Transaction (n) sự giao dịch
Periodic (a) tính chu kì
Dividend (n) tiền lời
The stock markets are very busy everyday except for weekends and holidays.
In general, prices for shares of stock are rather low but Americans of modest means still buy and sell shares.
There is no guarantee that the business behind the stock will perform well.
But they still buy and sell shares
There are some reasons
1.in hopes of making profits in the form of periodic stock dividends.
2.they also hope that the price of the stock will go up over time, so that in selling their shares will make an additional profit.
The New York Stock Exchange is a stock exchange located at 11 Wall Street in lower Manhattan, New York City, New York, USA. It is the largest stock exchange in the world by United States dollar value of its listed companies` securities
1. Why Americans take part in stock market?
2. When did Vietnamese stock market begin to work?
Questions for you

A large country
A leading producer of fuel
Faces some major economic challenges
A major consumer of resources
A leading producer of many minerals
AMERICAN
5.The situation today
International trade is important
Increasing
productivities or
the efficiency of
the labor force
Traing people to fill
new kinds of jobs


Can you tell me about some major economic challenges of the U.S?
Question for you
Thank you for your listening