BRITISH AND AMERICAN ECONOMY

BRITISH ECONOMY

• British is the 2° largest economy in Europe• It is a member of the G8• Uk was industrialized in the 18th and 19th century• After the 2° industrial revolution, Britain was the leader of the global

economy• Its capital, London, possesses financial importance in the world• In 1980s, in Britain took place an economic boom• In 2008 started a global financial crisis• In 2007 The United Kingdom had the ninth highest level of GDP1 per

capita

1- GDP: Gross domestic product

AGRICOLTURE, HUNTING, FORESTRY AND FISHING

• Agriculture is intensive, highly mechanised, producing about 60% of food needs

• The crops1 are wheat2, barley3, oats4, oilseed rape5, maize6 for animal feeds, potatoes and sugar beet7

• The livestock are cattle8, chickens and sheep • The UK retains a significant, although vastly reduced, fishing

industry

1- crops: raccolto 5- oilseed rape: colza

2- wheat: grano 6- maize: granoturco

3- barley: orzo 7- sugar beet: barbabietola da zucchero

4- oats: avena 8- cattle: bestiame

MANUFACTURING

• In 2003, manufacturing industry accounted for 16% of national output1 in the UK and for 13% of employment

• The regions with the highest proportion of employees in manufacturing were the East Midlands and West Midlands

• Car industries are very important like BMW (Mini, Rolls-Royce) and Tata (Jaguar, Land Rover)

• Pharmaceutical industry is particularly successful • Other important sectors of the manufacturing industry include food,

drink, tobacco, paper, printing, publishing and textiles

1- output: produzione

ELECTRONIC INDUSTRIES

TV

Radio and communications

products

Scientific and optical instruments

Electrical machinery and office machinery

Computers

SERVICE INDUSTRIES• Great Britain is expected to launch1 the building of new nuclear

reactors to replace existing generators • The service sector is the dominant sector of the UK economy • Wholesale and retail trade includes the motor trade, auto repairs,

personal and household goods industries• London is the world's largest financial centre, with financial services

based around two districts: 'The City' (the City of London) and the Docklands

1- launch: lanciare

CURRENCY

The British Prime Minister, Gordon Brown made a referendum to know if people wanted

euro or sterlin

The United Kingdom should not yet join

the Euro

AMERICAN ECONOMY

• The economy of the United States is the largest national economy in the world

• American economy rises in the 16th, 17th, and 18th centuries • In 1776 the american colonies became the United States of America

• 1930s Great Depression • Government tried to strengthen1 the economy but in 1970s it went

down• This is a period of high inflation, high unemployment, and huge

deficits• In 1981-82 there was the worst recession about oil shocks• United States entered a recession in December 2007 • The United States entered 2008 during a housing market2

correction, a subprime mortgage3 crisis and a declining dollar value

AFTER THE GREAT DEPRESSION

1- strengthen: rinforzare

2- housing market: mercato edilizio

3- mortgage: mutuo

OVERVIEW

• United States mineral resources, moderate climate, fertil farm soil1

• Extensive coastlines Atlantic and Pacific Oceans and Gulf of Mexico

• American banks and investors have grown their economy by investing and withdrawing2 capital from profitable corporations

• Governement protects tariffs, subsidizes3 industry, builds infrastructures and invests in productive enterprises

1- soil: terreno

2- withdrawing: prelevando

3- subsidize: sovvenzionare

GOVERNMENT INTERVENTION

The federal government uses:• Monetary policy control of the money supply1 through

mechanisms such as changes in interest rates• Fiscal policy taxes and spending • 1970s: Government exercised control to private companies to

improve the public's health

1- supply: offerta

DIRECT SERVICES AND ASSISTANCE

• The federal Government is responsible for national defense, develops new products, runs1 numerous programs

• Government offers low-interest loans2 and technical assistance to small businesses, helps students attend college

1- runs: gestisce

2- loans: prestiti

AGRICOLTURE

Pork

AGRICOLTUREWheat4

Corn

Fruits

Vegetables

Cotton

Beef2

Pork

Poultry1

Dairy products3

FishForest products

1- poultry: pollame 3- dairy products: latticini

2- beef: manzo 4- wheat: grano

EXPORTS- COMMODITIES

Capital goods

Automobiles

Industrial supplies and raw materials

Consumer goods

Agricultural products

IMPORTER-COMMODITIES

Crude oil and refined petroleum products

Machinery

Automobiles

Consumer goods

Industrial raw materials

Food and beverages

MANUFACTURINGPetroleum

Steel1

Motor vehicles

Aerospace3

Telecommunications

Chemicals

Electronics Food processing

Consumer goods

Lumber4

Mining2

1- steel: acciaio 4- lumber: legname

2- mining: industria mineraria

3- aerospace: industria aerospaziale

Margherita Cumino, Philippa Bowen

Active Business, Student’s book, Petrini

BIBLIOGRAPHY

WEB SITES

http://en.wikipedia.org/wiki/Economy_of_the_United_States

http://en.wikipedia.org/wiki/Economy_of_the_United_Kingdom

http://www.economist.com