Economics - Recessions (We The Economy) cloned 8/22/2019 - Jeremy Levin | Library

1

First Name

1

Last Name

1

Skema Student ID

1

Before watching the video, tell us your own definition: What is a recession?

Watch the video below and answer the questions.

1

According to Lee Hirsch, the narrator of the video, it is possible that some good things can be the cause of a recession.

1

"They make money by planting ________."

1

"They'll use that money to buy ____________, food, clothes, a vacation perhaps."

1

Recessions are predictable because we usually know the causes, which are few in number.

1

Sometimes, they're caused by a __________ which bursts.

1

Sometimes a recession is actually created by the Federal Reserve, the nation's central bank.

1

But if millions of families begin having econmic problems,then the whole nation __________ that very quickly.

1

In a normal economy, banks frenquently give loans to people.

1

Imagine our farm family. The area in which they live is devastated by a _____________.

1

Suddenly, their crops are ______________.

1

According to the video, there are only two emotions in the economy. Fear and Confidence.

1

What is the "fear fairy"? Explain in your own words.

1

If people spend less, then more people will lose jobs due to reduced production.

1

What is a sign that the economy is really beginning to get into trouble? An increase in ___________________________.

1

What is the "confidence fairy"? Explain in your own words.

1

Which of the following is not something that helps us come out of a recession?

1

What happens at the bottom of a recession?

1

all recessions eventually come to an end, and that means that confidence has to have finally __________ out fear.

1

Humans cause recessions. And humans end recessions as well.

Read the following article and find the synonyms and/ or translations for the vocabulary words.  

Small towns have a place in our hearts, but how long can they survive?
Switzerland needs you. Or more precisely, the tiny Alpine community of Albinen needs you, badly enough that it’s offering £19,000 a head to anyone prepared to move into town and stay there.

Its chief attraction is said to be lots of lovely fresh air; and if that sounds suspiciously like admitting it doesn’t have all that many attractions, therein perhaps lies the problem. Young people are leaving Albinen, shrinking its population to that of a modest hamlet, and not coming back. 

And that’s a problem not confined to Switzerland. Small towns and villages all over Britain, from the sleepy shires to post-industrial towns, are now struggling to keep their footing in a world where youth, energy and prosperity are draining away to the city. A million young people have moved out of small communities over the past 30 years, according to the new thinktank Centre for Towns.

These are the rapidly ageing towns whose young people leave for university and don’t return, except at Christmas when they venture into the pubs they used to drink in, and feel half nostalgic, half uncomfortable. One unforeseen consequence of expanding higher education, with almost half of teenagers now going away to university, is that so many get a taste of city life and never look back.

Thanks to their rapidly ageing populations, it’s small towns that will bear the brunt of rising demand for expensive health and social care, just as they are grappling with the painful consequences of economic change. Their factories are closing, high-street shops being replaced by vast warehouses where the only work is picking and packing goods for invisible online customers. All that talk in the budget about investing in driverless cars and tech startups feels as
remote as the moon from low-skilled towns where automation is more likely to cost jobs than bring them.

The cruel irony of small towns’ tendency to support Brexit, meanwhile, is that it may only accelerate their decline. And by the time that becomes painfully obvious – when the jobs disappear overseas and the wage packets shrivel – the populist quacks who peddled Brexit as a miracle cure for whatever ails you will doubtless have long since skipped town, blaming everyone
else for their failures.

It will be conventional politicians who have to pick up the pieces. And while initiatives like Centre for Towns don’t have all the answers, at least they are thinking far enough ahead to ask the right questions about what, apart from a sackful of Swiss francs, could make small-town life attractive again.

A few years ago, the Economist caused uproar with an article suggesting some rust-belt towns – places with stagnating economies and rapidly dwindling populations – were beyond saving and should just be left to die out, like those eerie California ghost towns abandoned when the gold
rush dried up.

But that’s an inhumane response to communities that have simply found themselves on the wrong side of geography. Small towns occupy a powerful place in British hearts and imaginations, and they have a right to survive. All they need now is a reason to exist.

November 24th 2017 / Gaby Hinsliff / The Guardian

1

(2nd paragraph) synonym for "main"

1

Translation for "à cet égard"

1

Translation for "rétrécir"

1

Translation for "hameau"

1

Translation for "avoir du mal à faire quelque chose"

1

Translation for "garder le pied"

1

Translation for "exténuant, épuisant"

1

Translation for "groupe de réflexion"

1

Translation for "imprévu, inattendu"

1

Translation for "être le plus touché par"

1

se battre contre

1

entrepôt

1

isolé

1

se dessécher / flétrir / se ratatiner

1

charlatans

1

faire souffrir

1

reprendre le cours normal de la vie / se ressaisir / faire face

1

tollé / protestations

1

region industrielle en déclin

1

en baisse / qui diminue

1

étrange / inquiétant

1

Imagine your ideal job. If you could have your ideal job in a small town or a city, which would you choose? Please explain your answer.

1

Do you think that the same thing is happening in France? That small towns are struggling economically and sometimes even dying out? If so, then why do you think this is happening? If not, what do you think is the difference between small town's in France and the UK?

1

Do you think that offering people money, just like in Albenin, Switzerland, to come live in a small town is a good solution? What solution do you have for saving small towns that are struggling economically?