Business English Syllabus

SN	Text and Activities	Materials	Time
1.	Warm Up session: Home Work Presentation (Group C)	Ss are responsible for game Materials.	15 minutes
2.	1. What is economics? Economics is the study of how people choose to allocate scarce resources to satisfy their unlimited wants. There are several words in this definition that should be emphasized. First, people allocate scarce resources. If there was enough of a resource to go around so that everyone could have as much as he or she wanted, there would be no need to allocate. The definition states that people have unlimited wants. Notice that it says wants, not needs. People act on the basis of their wants, not necessarily on the basis of their needs. If each of us made a list right now of the top ten things we would like to have and our fairy godmother popped out of the air and gave us what we wanted, most of us immediately would find that there are ten more things we'd like to have. Because resources are scarce and wants are unlimited, economics studies the best way to allocate resources so that none are wasted. 2. What is the economic way of thinking? The economic way of thinking focuses on positive, as opposed to normative, analysis, and applies the five-step scientific method: (1) recognize the problem, (2) cut away unnecessary detail by making assumptions, (3) develop a model or story, (4) make predictions, and (5) test the model.	Teacher should pronounce words and phrases in bold before the ss., and ask them to repeat. (Optional-tell the meaning.)	15 minutes
3.	Some Economic Terms: Scarcity, economic good, free good, resources, factors of production, inputs, land, labor, capital, rational self-interest, positive analysis, normative analysis, scientific method, theory, model, assumptions, fallacy of composition, association as causation, microeconomics, macroeconomics.	Ss. materials	10 minutes
4.			5 minutes
5.	1. "Low tax, Laissez-Faire, economies are better than the ones with large public sectors." Do you agree? Group A- positive Group B- negative 2. "It is better to be within large economic unions like the European Community rather than outside them." Do you agree? Group C- positive Group D- negative 3. "Governments should legislate to prevent monopolies becoming too powerful." Do you agree? Group E- positive Group F- negative Other students will be ready to discuss the following questions. 4. "Free trade policies are always better than protectionist ones." 5. "Governments should not subsidize enterprises which are unprofitable." 6. "Countries should try to become self-sufficient in food and basic necessities." Do you agree? 7. "Giving financial incentives to companies which locate themselves in underdeveloped regions is a waste of public money. It is better to let them set up where they want to be." Do you agree? 8. "Introducing the minimum wage will encourage foreign investors to take their enterprises elsewhere."	Argumentation is encouraged when doing this activity in the classroom or outside classroom.	10 minutes 10 minutes 10 minutes 10 minutes
6.	Find out if the students want to change the topic of study next week. Introduce the next lesson. Give lesson 5 “Marketing Channel” as home work.	None	10 minutes