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C HAPTER 1
Macroeconomics
Macroeconomics
S ECTION 1
Directions:
Study the following dialogues and practice
them with your friends.
Chapter 1: Macroeconomics
Student:
Mrs. A:
Student:
Mrs. A:
Student:
Mrs. A:
Dialogue 1
Situation:
Student:
Mrs. A:
*professor =
Student:
Mrs. A:
Student:
Student:
Professor:
Student:
Professor:
Student:
Professor:
Dialogue 2
Situation:
Student:
Professor:
Student:
Professor:
Student:
Chapter 1: Macroeconomics
Student:
Professor:
Student:
Dialogue 3
Situation:
Student:
Professor:
Chapter 1: Macroeconomics
Professor:
Student:
Professor:
Student:
Professor:
Student:
Marisa:
Jack:
Marisa:
Jack:
Marisa:
Jack:
Dialogue 4
Situation:
Chapter 1: Macroeconomics
Marisa:
Jack:
Jane:
Sethapon:
Jane:
Sethapon:
Jack:
Dialogue 5
Situation:
Tw o s t u d e n t s a r e p r e p a r i n g
themselves for an economics
examination.
Chapter 1: Macroeconomics
Alice:
Wittaya:
Alice:
Wittaya:
Dialogue 6
Situation:
Alice:
Wittaya:
Chapter 1: Macroeconomics
S ECTION 2
Directions:
Chapter 1: Macroeconomics
Situation 1:
Situation 2:
Wittawat, a Thai student in the U.S.A., asks Dr. Johnson to explain the word
economy.
Situation 3:
Situation 4:
Situation 5:
John, one of your foreign friends, asks you to explain what macroeconomics
is.
Chapter 1: Macroeconomics
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C HAPTER 2
Macroeconomic
Variables: GDP & GNP
Macroeconomic
Variables: GDP & GNP
S ECTION 1
Directions:
Study the following dialogues and practice
them with your friends.
12
Michael:
Apichart:
Michael:
Apichart:
Michael:
Dialogue 1
Situation:
13
Dara:
Kelly:
Dara:
Kelly:
Dialogue 2
Situation:
Dara:
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Nipada:
Macey:
Nipada:
Macey:
Nipada:
Macey:
Dialogue 3
Situation:
Nipada:
Macey:
Nipada:
Macey:
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Mr. Brown:
Ms. Ampika:
Mr. Brown:
Ms. Ampika:
Mr. Brown:
Dialogue 4
Situation:
16
Billy:
Lalida:
Billy:
Dialogue 5
Situation:
17
William:
Suthasinee:
William:
Dialogue 6
Situation:
18
S ECTION 2
Directions:
19
Situation 1:
Situation 2:
Dang and Denny are friends. Denny wants to buy a condominium for living with
the family. There are four people in Dennys family; they are his parents, his
sister and himself. Dang thinks that Denny should buy a house instead.
Situation 3:
Two economics students are talking. One thinks that it is a good idea to lower
interest rates for borrowing money. The other one does not think so.
Situation 4:
Two investors are talking. One who is manufacturing expensive brand name
clothes is planning to set up a branch for his/her products in Vietnam, of which
per capita GDP is comparatively low. The other investor disagrees.
Situation 5:
Two students are talking. One girl is a movie star and studying economics
simultaneously. She wants to quit school. Her friend does not agree with her.
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C HAPTER 3
Microeconomics
Microeconomics
S ECTION 1
Directions:
Study the following dialogues and practice
them with your friends.
Chapter 3: Microeconomics
22
Dialogue 1
Situation:
Chapter 3: Microeconomics
23
Dialogue 2
Situation:
Chapter 3: Microeconomics
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Dialogue 3
Situation:
Chapter 3: Microeconomics
25
Michelle:
Lek:
Michelle:
Lek:
Michelle:
Lek:
Dialogue 4
Situation:
Chapter 3: Microeconomics
26
Dialogue 5
Situation:
A student is interviewing an
economics student about the way she
spends her free time.
Chapter 3: Microeconomics
27
S ECTION 2
Directions:
Chapter 3: Microeconomics
28
Situation 1:
Lee, an economics student, had joined an English summer camp with the
Language Institute. Duangjai, a student from the same university, is interested
in joining the same program. She interviews Lee informally on what the summer
camp is like.
Situation 2:
Ken is planning to open a small Japanese restaurant if he has to quit his job.
He would like to know what people like about Japanese restaurants. He
interviews one of his close friends on his/her expectation of the food, service,
and ambiance in a good Japanese restaurant.
Situation 3:
Situation 4:
= t i m e t a b l e ( B r . E . )
= a list of times of classes in a school, university
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C HAPTER 4
Opportunity Cost
Opportunity Cost
S ECTION 1
Directions:
Study the following dialogues and practice
them with your friends. Make sure that you
and your partner take turns playing both
roles of each dialogue.
31
Advisor:
Student:
Advisor:
Student:
Advisor:
Student:
Advisor:
Student:
Advisor:
Dialogue 1
Situation:
32
John:
Amnuay:
John:
Amnuay:
John:
Amnuay:
John:
Dialogue 2
Situation:
33
Decha:
Lisa:
Decha:
Lisa:
Decha:
Lisa:
Decha:
Dialogue 3
Situation:
34
Michael:
Dusit:
Michael:
Dusit:
Michael:
Dusit:
Michael:
Dusit:
Dialogue 4
Situation:
Michael, an employee in a
multinational company, is working in a
subsidiary in Thailand. He has saved
a considerably big sum of money. He
i s t a l k i n g w i t h h i s fi n a n c i a l l y
successful friend at a party.
Michael:
Dusit:
Michael:
35
Palakorn:
David:
Palakorn:
David:
Palakorn:
David:
Dialogue 5
Situation:
36
S ECTION 2
Directions:
37
Situation 1:
Situation 2:
A first year student is asking a second year (or a higher year) student who is in
the same faculty for some advice about what subjects he/she should take for
the coming semester.
Situation 3:
Situation 4:
A first-year student asks his senior friend in the same faculty about which
activity club in the university he/she should join.
Situation 5:
Melissa, an overseas exchange student, asks Yongyut, her Thai friend, for
some advice on where to go for sight-seeing in Bangkok or nearby as a oneday trip.
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C HAPTER 5
International Trade
(The Law of Comparative Advantage)
S ECTION 1
Directions:
40
Salesperson:
Executive:
Salesperson:
Executive:
Salesperson:
Dialogue 1
Situation:
41
Johnny:
Thidawan:
Johnny:
Thidawan:
Dialogue 2
Situation:
42
Duangjai:
Akiko:
Duangjai:
Akiko:
Dialogue 3
Situation:
Duangjai:
43
Patrick:
Thongchai:
Patrick:
Thongchai:
Patrick:
Dialogue 4
Situation:
* expatriate (n.)
44
Tom:
Pipat:
Tom:
Pipat:
Tom:
Pipat:
Dialogue 5
Situation:
45
S ECTION 2
Directions:
1.
2.
3.
4.
5.
46
Situation 1:
An economics graduate has got a job he does not like much. He talks with a
friend and gets a positive point of view from him/her.
Situation 2:
An economics student cannot enroll for the subject he is interested in. His
adviser tells him that he can take another subject as a substitute. The adviser
also expresses a positive point of view on this matter.
Situation 3: An economist working for a company cannot take a vacation abroad because
the company is so busy, which means he can get a big bonus at the end of the
year. He talks with his close friend, who points out the positive side to him.
Situation 4:
An economics graduate cannot study abroad due to the economic crisis and
baht devaluation. However, he/she passes the admission test for a seat in a
graduate school of a well-known and prestigeous university in Thailand. He/she
talks with his/her friend and gets a positive point of view from this friend.
47
C HAPTER 6
Trade Barriers
Trade Barriers
S ECTION 1
Directions:
49
Cindy:
Som:
Cindy:
Dialogue 1
Situation:
50
Mr. Waterman:
Mr. Somchai:
Mr. Waterman:
Mr. Somchai:
Dialogue 2
Situation:
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Ms. Brunette:
Mr. Boonchu:
Ms. Brunette:
Mr. Boonchu:
Ms. Brunette:
Mr. Boonchu:
Dialogue 3
Situation:
Tw o i n d u s t r i a l i s t s i n t h e f o o d
producing business are talking.
* BITEC
Junko:
Paiboon:
Junko:
Paiboon:
Junko:
Paiboon:
Junko:
Dialogue 4
Situation:
Paiboon:
Junko:
* retaliation (n.)
Hey, Paiboon.
Hi, Junko. Did you read todays newspaper
about the EUs intensive checks on shipments
of Japanese poultry and shrimps?
Yes, because they are concerned about
chemical residues.
Do you think that its actually a form of trade
barrier?
It could be.
What do you think the Japanese government
will do about this matter?
My guess is that the Japanese Commerce
Ministry will introduce stricter checks on
possible chemical residues in imported
powdered milk and wine from the European
Union.
As a form of retaliation?
Yes, kind of.
Mr. Green:
Mr. Aran:
Dialogue 5
Situation:
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S ECTION 2
Directions:
55
Situation 1:
Two investors are talking. They are exchanging ideas about a new country to
invest in. One of them speculates that China is a good place for his company to
invest.
Situation 2:
Two students are talking about the future of the latest model of mobile
computers. One of them sees that the price of this new invention will soon be
much lower.
Situation 3:
At a company meeting, during the break time, two high-ranking executives are
talking about sales projections*. One of them speculates that in the next
quarter, sales will increase not less than 25% due to the expansion of output
and the development of new value-added products.
Situation 4:
Two economics students are talking about their future. One sees himself/herself
graduating in the coming October; the other one in March.
Situation 5:
In a talk with a news reporter, an official of the Thailand Stock Market makes a
speculation that the SET* index will be up 60-70 points by the end of the year.
* projection (n.)
* SET
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