English with Jo

The Economy

This is the preparation material for an English conversation lesson about the economy. There is an audio discussion to listen to about the economy and some key collocations, phrasal verbs and idioms that we use when discussing this important topic. You can also find a list of discussion points and conversation questions about the economy.

Audio Discussion 

Download audio discussion about the economy

Transcript of Audio Discussion

* Audio courtesy of elllo.org

Collocations

• Curb inflation – control the continuous increase in prices
• Industry is thriving – doing very well
• Safeguard interests – protect interests
• Plummeting profits – rapidly falling profits
• Slump in prices – serious fall/collapse in prices
• Boost the economy – give the economy a lift
• Collocations for debt – cancel debt, ease debt, debt burden, repay debt, alleviate debt, incur debt

Phrasal Verbs

• Go into – economies may go into recession
• Come out of – economies may not come out of recession for a long time
• Went up – The Canadian dollar went up rapidly in the last month
• Cut back – The Greek government needs to cut back on spending

Idioms

• In the red - to be losing money, to be unprofitable
• Close up shop - to stop doing business

Conversation Questions 

• Are you interested in the economy?
• How important is the economic situation to your daily life?
• Do you think it is important to be knowledgeable about the economy?
• What do you think are the main economic problems in the world today?
• Do you worry about the world economy?
• Do you have any ideas about how the problems could be solved?
• What can assist economic growth?
• Do you think economic aid and economic sanctions work?
• Do you think changes in the economy are predictable?
• Have you heard any conspiracy theories about the economy?
• What is the effect of economics on society?
• How is the economy in your country?
• What is your main concern about the economy?
• Do you keep up to date with economic news?
• What would you do to help your country's economy?
• What is the effect on the economy of high taxation?
• What is the effect on the economy of low taxation?
• What are some of the different kinds of taxes your country has?
• If you were the ruler of your country, what would you do to change the economy?