经贸英语文章选读课件董晓波 ISBN9787566302199 PPTUnit 13 Economic Crisis.ppt

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1、Unit13EconomicCrisisCONTENTSTextBSupplementaryReadingTextATeachingAimsTEACHINGAIMSAfterstudyingthisunit,youarerequiredto:HaveageneralideaoftheGreatDepressionandtheEconomicCrisis.2.UnderstandthecausesoftheGreatDepression.3.DiscussthereasonsfortheEconomicCrisisbeginningin2007.4.Masterthedifficultwor

2、dsandexpressions.TextATheGreatDepressionQuestions:HowmuchinformationdoyouknowabouttheGreatDepression?DoyouknowthecausesoftheGreatDepression?DoyouknowthegreatpeopleoreventsduringtheGreatDepression?BackgroundoftheGreatDepressionWhentheUSenteredWorldWarIinApril1917,laborandcapitalwerequicklymobilizedo

3、nanimpressivescalebythefederalgovernment.AfterWorldWarI,theUSeconomymovedintoalongexpansion.Theprevalentbeliefwasthattheeconomyhadenteredaneweraofcontinuousgrowthandprosperitywhichwouldeventuallyeliminatepoverty.Duringthe50yearsbeforethe20thcentury,thechangesweretheshiftfromanagriculturaltoanindust

4、rialeconomy,theincreaseofproductivity,technologicaldevelopment,discoveryofnewenergysources,investmentsinhumancapital,andeconomiesofscale.StartoftheGreatDepressionTheGreatDepression(1929-1933)dashedallthesehopestopiecesandturnedtheoptimistsintopessimists.TheGreatDepressionwasasevereworldwideeconomic

5、depressioninthedecadeprecedingWorldWarII.The*timingoftheGreatDepressionvariedacrossnations,butinmostcountriesitstartedinabout1929andlasteduntilthelate1930sorearly1940s.EconomichistoriansusuallyattributethestartoftheGreatDepressiontothesuddendevastatingcollapseofUSstockmarketpricesonOctober29,1929,k

6、nownasBlackTuesday.However,somedisputethisconclusion,andseethestockcrashasasymptom,ratherthanacauseoftheGreatDepression.CausesoftheGreatDepressionThereweremultiplecausesforthefirstdownturnin1929.Theseincludethestructuralweaknessesandspecificeventsthatturneditintoamajordepressionandthemannerinwhicht

7、hedownturnspreadfromcountrytocountry.Cause1,therearedemand-driventheories.KeynesianBritisheconomistJohnMaynardKeynesarguedinGeneralTheoryofEmploymentInterestandMoneythatloweraggregateexpendituresintheeconom