BRITISH ECONOMY – SECTORS 6 AGRICULTURE 25% of Britain's land is arable; almost half for meadows and pastures.. 7 INDUSTRY • Raw materials • 40% food supplies I m p o r t • Man
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BRITISH economy
Revised by Mi Do, Thuy Pham & Hong Nguyen
2
Overview of economy
A
Working life
B
BRITISH ECONOMY
3
Rank Country GDP (million of USD)
6 United Kingdom 2,521,381
Source: World Bank (2014)
BRITISH ECONOMY
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#01
#02
#03
United Kingdom
N.Y
London
Inflation: 4.5% (2011) – 2.7%(2012)
Interest rate: 4.5%(2011)- 2.8% (2012 )
Unemployment rate:
5.1%(2008) –7.8% (2012) –7.2% (2013)
# 06 BRITISH ECONOMY – OVERVIEW
5
Main industries today:
Banking and
finance Steel Transport
Oil and gas Tourism
GDP – composition by sector:
agriculture: 0.7%
industry: 20.5%
services: 78.8% (2013 est.)
BRITISH ECONOMY – SECTORS
6
AGRICULTURE
25% of Britain's land is arable;
almost half for meadows and pastures
Agriculture is highly mechanized and extremely productive
~ 2% of the labor force produces 60% percent of the country's food needs
Sizable fishing industry
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INDUSTRY
• Raw materials
• 40% food supplies
I m p o r t
• Manufactured goods
E x p o r t
8
3.5 million
manufacturing jobs
3.5 million
service-related jobs
Dominated
service-related industries
st ce
banking, insurance, business services
SERVICE
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The Great Conurbations
Merseyside (Liverpool,
Southport, Saint Helens)
Leeds, Bradford &
neighbouring districts
River Clyde Region
(Scotland)
Belfast Area (Northern
Ireland)
BRITISH ECONOMY
Exports & imports
Manufactured goods Fuels Chemicals beverages Food & Tobacco
Foodstuffs Fuels
Machinery Manufactured
goods
• Exports
• Imports BRITISH ECONOMY - TRADE
One of the leading trading nations in the world
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Trade Focus
BRITISH ECONOMY - TRADE
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Exports Imports
Export Partners (2012)
Exports: $801.7 billion (2012) Largest export earner :
Chemical
Import Partners (2012)
Imports: $777.6 billion (2012)
BRITISH ECONOMY - TRADE
CIA Word Factbook (2013)
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The Structure
Of Trade & Industry
History:
1945-1980: state controlled
1980s:
Conservative government gave more freedom to
businessmen
Privatize companies (share holders)
1994: most had been privatized
1979- 1990
BRITISH ECONOMY
14
Overview of economy
A
Working life
B
BRITISH ECONOMY
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Lack of enthusiasm for work
+ Leisure = a sign of aristocracy
+ Non-manual job = sign of middle-class
+ Working day: starts late (8 a.m for manual
jobs and 9 a.m for non-manual ones)
High earnings are more important than job
satisfaction
Attitude to work
Now, weaker connection between
middle class and non-manual work
BRITISH ECONOMY – WORKING LIFE
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Shopping as a way of spending money
Not adventurous shoppers (like reliability + brand-name goods)
Late 20th cent.:
Supermarkets moved out of town
High streets (area in town where shops concentrate) still survive
Shop opening hours: 9a.m (On Sundays, large shops + supermarkets: until 5p.m)
BRITISH ECONOMY
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Harrod’s, the most famous department
store in England that all visitors want to
visit Here you can find anything, from
the cheapest to the most expensive
things
“Not only are we, in the words of Napoleon, 'a nation of shopkeepers', we are also a country
of compulsive shoppers We love to shop! It is our number one leisure activity and accounts for around 37% of all money spent in England.”
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Working in Britain
Europe
BRITISH ECONOMY – WORKING LIFE
over 18 to 20 Under 18 Apprentice*
2014 (current rate) £6.50 £5.13 £3.79 £2.73
UK National Minimum Wage
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Transport
Accom-modation
one of the
most expensive
places to live
in
LONDON LIVING WAGE £8.80/hr
BRITISH ECONOMY – WORKING LIFE
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UK employment law
Legal working age: 13
Under-15s:
Holidays
Schooldays
Over-15s:
5 hrs/ Sat 5hrs/weekday Max 25hrs/ week
2hrs/ schoolday 2hrs/ Sun
8hrs/ Sat 8hrs/ weekday Max 35hrs/ week
BRITISH ECONOMY – WORKING LIFE
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Jobs for Teenagers
• Delivering newspaper
• Babysitting
• Helping the milkman on his round
• Other jobs: Working in a shop, working in a
hairdresser’s, office work, washing cars, working
in a café or restaurant, domestic work in hotels
Workers under 16: not entitled to National
Minimum Wage
BRITISH ECONOMY – WORKING LIFE
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1 British people can start work at the age of 16
2 On average, men in Britain work 40 hours a week
3 Women usually retire when they are 60
4 Today more and more people work in offices and with computers
5 London is the most important financial center in the world
6 Retailing is an important industry today
7 Most of the top ten retailers in Europe are British
8 Hi-tech industries are important today
9 Most British people get 30 days holiday a year
10 There are ten public holidays
a year in Britain
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Economy - review
Terms to explain:
GDP, Pound Sterling, privatization, National minimum wage, work
permit, paid holiday, brand-name product, high streets
Questions
1.What are the indicators to show that Britain has a strong economy?
2.What challenges is the UK economy facing? (search the Internet for
more information)
Economic Structure
3 What are the main economic sectors and their contribution to
Britain’s GDP?
4 Why is Britain’s agriculture said to be extremely productive? What
are the reasons for this productivity?
5 Why is the service sector said to have dominated UK’ economy?
6 How has the shift from manufacturing to service affected regional
economies in the UK?
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Economy - review
Trade in the UK
7 What are the main imports and exports of Britain? Which one is the largest export earner?
8 Which countries are the main trading partners of Britain?
9 How has Great Britain’s trade focus changed recently?
Structure of Trade and Industry
10 What changes happened in the structure of trade and industry in the UK during the last half of the 20th century?
Working life
11 What are the attitudes of British people to work?
12 How do British people shop?
13 Find in the section of Working in Britain about the
following issues:
Typical working day
Wage
Employment law toward children
Kind of jobs teenagers can do