English for Economists | Economic News and English Expressions

In today’s podcast, we are going to go over some very useful vocabulary related to the topic of climate change. This is a timely topic, since the 2021 United Nations Climate Change Conference, also known as COP26, recently finished. The climate conference was held in Glasgow, Scotland in the United Kingdom. What were the goals of the conference and what was accomplished? Well, you’ll hear about th...

Today, we will introduce the book titled Why Nations Fail. This book was written by Daron Acemoglu and James A. Robinson and it was first published in 2012.  The author's view of the relationship between institutions and progress has gained the support of many readers, but there are others who criticize the book and say its ideas are simplistic. I wonder what you think about it. --- Vocabular...

In today's lesson, we take a look at some of the vocabulary surrounding the mining and smelting industries. Let’s look first at some key vocabulary. Prospecting : Prospecting is often the very first stage in the search for mineral deposits. Drill sampling : A small hole is pierced into the ground and a sample of rock is brought to the surface. Ore : a mineral that has a high concentration of a cer...

Originating in Great Britain, trade unions became popular in many countries during the Industrial Revolution. Why do unions exist? Well, the most common purpose of these unions is –– to put it simply –– to maintaining or improve the conditions of the workers’ employment”. This may include the negotiation of wages, safety standards, complaint procedures, rules about job promotions, and employment b...

Our topic today? Foreign Direct Investment, also known as FDI. Vocabulary Economic territory : the areas under the effective economic control of a single government. Residence : the economic territory where the enterprise has its main economic interest. Foreign Parent : A foreign parent an owner residing outside the host country which has at least 10 percent ownership in the enterprise. Inward Flo...

Our topic today is immigration. Let's look at our vocabulary first. Migration: the action of moving from one country to another. A migrant is a person who moves from one place to another, especially in order to find work or better living conditions. Immigration: the action of coming to live permanently in a foreign country. An immigrant is a person who comes to live permanently in a foreign countr...

Our topic today? Grants, subsidies and stimulus payments. That’s right. Free money! The best money of all!

Our topic today is superintendencies. Vocabulary Supervise and Supervision: Supervision is the act or function of supervising something or somebody . In other words, to supervise something or somebody. Other related concepts––which are not necessarily synonyms--include the following verbs: oversee, regulate, administer, control, manage and monitor. Superintendence: the act or process of superinten...

You could say that today’s lesson a very “powerful”. Our topic? The electrical grid. Let’s begin with some relevant vocabulary: Electrical grid: An electrical grid is an interconnected network for electricity delivery from producers to consumers. Hydropower: Also known as hydroelectric power, Hydropower is electrical energy produced through the power of moving water . Wind power: Wind power or win...

Today’s topic is rental housing. Let’s begin by looking at our vocabulary. Vocabulary Housing: A building, or something else that covers and protects. An example of housing is an apartment building. Property: Something belonging to somebody. In this case, it refers to real estate, in particular rental housing (houses, apartments). Landlord: Someone who owns a house, apartment, condominium, land, o...

Today’s topic is “near and dear” to the hearts of many economists, and anybody else who takes an interest in the economy. Our topic today is elections. So, let’s get started. Our vocabulary list is a little longer than usual today, so pay close attention. Here goes! Vocabulary Run for office: To seek political power via an election Platform: a political party’s formal written statement of its prin...

The topic of today’s podcast is pensions. Let’s start by looking at some basic vocabulary. Retire: to leave your job and to stop working, usually by reaching the legal age for leaving employment. Maybe 60-years old, or 65. The person who retires is known a retiree. Pension: A pension is a regular payment––usually from a company you worked for or from the government––that you receive after you reti...

Auction: a public sale in which goods or property are sold to the highest bidder, in other words, to the person or organization who offers the most money. By the way, we often use the phrasal verb “auction off” to describe the action, as in: they auctioned off the painting to the highest bidder. Bid: The action of making an offer at an auction. You make a bid at an auction when you make an offer t...

Forestry: the science of growing trees Hardwood: In general––but not always–– hardwood comes from trees that lose their leaves annually. H ardwood is usually slow-growing and the wood is dense. Softwood: S oftwood is more common than hardwood. It usually comes from trees that remain green year-round, like pine trees for example. Timber: refers to standing trees, or trees that have been cut down Lu...

Recipient: a person or institution that receives something, like a donation. Humanitarian aid: usually short-term help, like money, food or medical supplies. Technical assistance: sharing information, skills, instruction, or technical data. Tied aid:  foreign aid that must be spent in the country providing the aid Bilateral aid:  assistance given by a government directly to the governmen...

Solid waste: You probably know what this is, but remember the synonyms garbage and trash. Incinerate: to destroy by burning Air pollution: a mixture of solid particles and gases in the air Dumpsite: a piece of land where waste materials are dumped Dispose of: to get rid of, to throw away Landfill: a place to leave waste material and cover it with soil DISCUSSION Solid waste management mostly deals...

Vocabulary: Down payment: an initial payment made when something is bought on credit. Mortgagor: the borrower in a mortgage, typically a homeowner. Mortgagee: the entity that lends money to the borrower against the security of property. Collateral: something offered as security for repayment of a loan. To purchase outright: Without borrowing money in one payment. Foreclosure: the action of taking...

These English lessons are for anyone who needs to read, talk or write about the economy in English. Welcome to our first lesson! Today, we will take a look at the London Interbank Offered Rate (LIBOR). This is a great English lesson for bankers.  Here is our key English vocabulary. Listen to how these words are used during the podcast. Benchmark: a point of reference against which things may...