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单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,单击此处编辑母版标题样式,*,*,1,Lesson One,Spillonomics:Underestimating Risk,2,Catalogue,Background Information,Warm-up Questions,Main Idea,Language Points,Difficult Sentences,Keys to the Exercises,3,David Leonhardt,is an economics journalist with,The New York Times,.He joined,The Times,in 1999 and writes both the“Economics Scene”column and for the,Times Sunday Magazine,.Before coming to,The Times,he wrote for,BusinessWeek,and,The Washington Post,.In April,Background Information,4,2011 he was awarded a Pulitzer Prize in the“Commentary”category for“his graceful penetration of Americas complicated economic questions,from the federal budget deficit to health care reform”.,Background Information,5,Deepwater Horizon,is the name given to an ultra-deep ocean-drilling operation that was located about 250 miles southwest of Houston,Texas,in Gulf of Mexico.The drilling extended from a platform on the ocean surface,down about 4,000 feet(about 1.2 Km)to the ocean floor,and then another 31,000 feet,Background Information,6,(about 9.3 Km)below the ocean floor into the crude,oil deposit.It was the deepest well of its type ever,drilled.In 2010,worldwide,Deepwater Horizon,was the largest of about 200 such platforms capable,of drilling in waters a mile deep(1.6 Km)or more.,Background Information,7,BP Oil Spill in the Gulf of Mexico,Tuesday,April 20.News broke that an explosion occurred at 11 p.m.EST on BP,s Deepwater Horizon oil rig in the Gulf of Mexico,52 miles southeast of the Louisiana port of Venice.,Background Information,8,Explosion,Background Information,According to the Coast Guard,11 to 15 crew members were reported missing,of the total 126 workers aboard the rig at the time of the blast.The rig was drilling,but not in production.,Deepwater Horizon oil rig,9,Background Information,Press the icon on the right and watch,Obama:BP,agrees to pay,10,The Oil Pollution Act,(,石油污染法,)was passed by the 101st United States Congress,and signed by President George H.W.Bush,to mitigate and prevent civil liability from the future oil spills off the coast of the United States,.,Background Information,11,The law stated that companies must have a,“,plan to prevent spills that may occur,”,and have a,“,detailed containment and cleanup plan,”,for oil spills.,Background Information,12,Wall Street,a collective name for the major U.S.financial interests (banks,insurance companies,investment companies,etc.),mostly based in New York City.,Background:In the early 1600s Manhattan Island,the main portion of todays New York City,had a,Background Information,13,Background Information,small population.For protection,a large wall was built near the shore;a roadway ran alongside the wall.As the area developed into a town the roadway was named Wall Street.Today it is an eight-block area with sky-,crapers,very tall buildings,containing the headquaters,and offices of many of the major banking and invest-,ment companies of America and the world.,14,Warm-up Questions,1.Do you think British Petroleum is the victim of an unfortunate accident,or did the company fail in the management of potential risks?,2,.,At the time of maximizing profits,what should a,responsible company do?,3,.What are the challenges in developing economy,without harming the environment?,15,M,ain,I,dea,Humans often participate in very risky behavior,particularly if events are extremely rare,the rewards are large and the consequences seem to be small.The author begins with two examples of risky behaviors that resulted in serious unexpected consequences:1)A major undersea oil spill in 2010.2)The collapse of the U.S.financial markets in 2009.In the first,16,M,ain,I,dea,example a small group of corporate executives took undue risks.In the second example a large segment,of the American public,and many,many financial de-,cision makers were surprised.The article goes on to,discuss two types of risks:1)Where a bad event is difficult to imagine and risk is underestimated;falling property values is the example.2)A bad event is too,17,M,ain,I,dea,easy to imagine and risk is overestimated;commercial air travel vs.travel by personal car is the example.The last part of the article discusses the possible role of government in helping all parties avoid taking inappropriate risks,either by passing laws and regula-,tions,or through providing factual information and explaining the risks.,18,Language Points,1.spillonomics,The author has created this word to su-,ggest the topic of his article.Spill suggests oil spills,which will be a major example;,“,-onomics,”,is intended,to suggest economics,the financial consequences of oil,spills.This article was published about two months,following the biggest,most costly,and most environ-,mentally damaging oil spill.,19,Language Points,2.,in retrospect,(line 1,para.1)thinking back to a,time in the past,especially with the advantage of,knowing more now than you did then,回想起来,,我们本应该为学校多节约些钱。,In retrospect,we should have saved more money,for college.,回想起来,,我们是如何出的错就很明显了。,In retrospect,it,s obvious how we went wrong.,20,Language Points,3.rig,n,c,(line 1,para.1)1),a large structure that,is used for getting oil from the ground under the sea,Oil rig,21,Language Points,2),to dishonestly arrange the result of an election or,competition before it happens;to fix,她谴责对手,操纵,投票。,She accused her opponents of,rigging,the vote.,他们,操纵,国内市场以使当地企业受益。,They,rig,their domestic markets in favour of local,businesses.,22,Language Points,rig blew means the structure exploded.Here it refers,to the extremely large open-water drilling platform,designed to drill for oil in very deep ocean waters.In,this context,“,to blow,”,means to explode,or to rupture,is in,“,to blow up.,”,In this event both the surface drilling,platform exploded,and the oil well opening on the,ocean floor ruptured,broke open.,23,Language Points,4.BP,(line 1,para.1),Short for British Petroleum(,英,国石油公司,),the primary international company,based in Great Britain,that was in charge of the,drilling operation.Several other major companies,had roles to play also.,24,Language Points,5.reputation,n,c,(line 2,para.1),the opinion that,people have about someone or sth because of what,has happened in the past,该商店因买卖公道而享有极高的,声誉,。,This store has an excellent,reputation for,fair dealing.,这所大学有良好的学术,声誉,。,This college has a good academic,reputation,.,25,Language Points,to earn/gain/establish a reputation as sth,a good/bad reputation,26,Language Points,6.refinery,n,c,(line 3,para.1),a factory where,sth such as oil or sugar is made purer,Oil/petroleum refinery,27,Language Points,7.regulator,n,(line 3,para.1)a person or organization,appointed by a government to regulate an area of,activity such as banking or industry,将指定一个独立的,管理机构,来保证公平竞。,An independent,regulator,will be appointed to ensure,fair competition.,政府会继续起到监察者和,调控,者的作用吗?,Will government maintain its role of watchdog and,regulator,?,28,Language Points,8.,panel,n,(line 3,para.1)a small group of people,who are chosen to do sth,for example to discuss,sth in public or to make a decision,他组织了一个学者,小组,为他出谋划策。,He assembled,a panel of,scholars to advise him.,顾问,小组,不同意该决定。,The advisory,panel,disagreed with the decision.,A panel,29,Language Points,9.corrode,vt,(line 5,para.1)if a metal corrodes,or if sth corrodes it,it is slowly destroyed by the,effect of water,chemicals etc.,酸雨毁坏树木,,腐蚀,建筑物。,Acid rain destroys trees and,corrodes,buildings.,调查人员发现地下管道严重,腐蚀,。,The investigators found that the underground pipes,were badly,corroded,.,30,Language Points,2),written,to gradually make sth weaker or destroy,it completely,他警告说腐败正在,侵蚀,警察队伍。,He warns that corruption,is corroding,police.,和,正在,侵蚀,他灵魂的痛苦相比较,这种折磨倒,更容易承受。,Suffering was easier to bear than the bitterness,corroding,his spirit.,31,Language Points,10.Prudhoe Bay,(,line 5,para.1),Prudhoe Bay,(,普拉德霍湾,),is on the far north,shore of Alaska,above the Arctic Circle(,北极,圈,).It is a shipping point for oil from the largest,oil fields in North America.It is arctic waters,that are frozen over for most of the year,and the,region is considered very environmentally sensi-,tive.,32,Language Points,11.upbraid,vt,fml,(,line 6,para.1)to criticize in a,harsh and severe manner,他妻子开始,指责,他不把孩子放在心上。,His wife set about,upbraiding,him for neglecting the,children.,他本想因为我偷偷溜出去,训,我,一顿,的,可是他,没有这样做。,He,d meant to,upbraid,me for sneaking off,but he,didnt.,33,Language Points,Synonyms:,blame,reprimand,censure,criticize,34,Language Points,12,.,stem from,v,prep,(,line 1,para.2)1)to,develop as a result of sth else,她的,头疼,是,视力问题,造成的,。,Her headaches,stemmed from,vision problems.,价格与租金的跌落,是,由20世纪80年代建设过热,造,成的,。,The collapse in prices and rents,stems from,over-,building in the 1980s.,35,Language Points,2),vt,to stop sth from happening,spreading,or,developing,采取措施旨在,制止,非法移民倾向。,The measures are meant to,stem,the tide of illegal,immigration.,你必须,止住,伤口流血。,You must,stem,the flow of blood,from,the wound.,to stem the tide/flow/flood of sth,36,Language Points,Synonyms:,arrest,bar,block,bridle,control,curb,delay,foil,govern,halt,hamper,hinder,hold back,impede,inhibit,keep in check,obstruct,regulate,rein,repress,restrain,retard,slow,slow down,stop,stunt,thwart,37,Language Points,13,.,obsession,n,(line 1,para.2),a,n extreme unhealthy,interest in sth or worry about sth,which stops you,from thinking about anything else,她会努力忘记,对,我的,迷恋,。,She would try to forget her,obsession,with,me.,对于他来说,赌博是,无法摆脱,的。,For him,gambling is,an obsession,.,38,Language Points,Useful expressions:,to become an obsession,unhealthy/dangerous obsession national/American/British etc obsession,to the point of obsession,to border on/upon obsession,:,be almost as bad as an obsession,39,Language Points,14.,come what may,(,line 1,para.2)whatever,happens;no matter what happens;under any,circumstances,不管怎样,,我要使问题水落石出。,Come what may,I,m going to fight the case out.,不管怎么样,,反正我们今天必须完成这项工作。,Come what may,we must finish this work today.,40,Language Points,15.,cost,n,(,last line of para.2)1)the amount of money,that you have to pay in order to buy,do,or produce,sth,这项工程需要巨大的,费用,。,This project entails enomous,cost,.,该药,昂贵,,影响广泛应用。,The high cost,prohibits the widespread use of the,drug.,41,Language Points,2),plural,the money that you must regularly spend in order,to run a business,a home,a car etc,为保持竞争力,我们必须降低,成本,。,We have to reduce,costs,in order to remain competitive.,成本,降低了30%到50%。,Costs,have been cut by 30 to 50 per cent.,42,Language Points,Useful expressions:,to pay the cost of sth,to meet/bear the cost(of sth):to pay for sth,to cover the cost(of sth):to pay for all of sth,the cost of doing sth,at a cost of$10/$100 etc,high/low cost,43,Language Points,full/total cost,extra/additional cost,rising/escalating cost at no extra cost(to somebody)labour/transport/legal etc costs,running/operating costs,:,what it costs to organize an event or run a business,44,Language Points,Synonyms:,amount,charge,expenditure,expense,fare,figure,payment,price,rate,value,45,Language Points,16.,executive,n,(,line 1,para.3),a manager in an,organization or company who helps make important,decisions,一位优秀的,高级管理人员,通常与人们相处得很好。,A good,executive,usually gets on well with people.,公司前,行政主管,形容乔丹是耐克形象的化身。,A former company,executive,describes him as the,embodiment of Nikes image.,a,senior/top executive,46,Language Points,17.hit,n,(,line 2,para.3)1),if sth hits a person,place,or thing,it affects them very badly.,他在我头上轻轻,敲,了一下。,He gave me a gentle,hit,on the head.,他在射,击中,中了50发。,He scored 50,hits,in the shooting.,47,Language Points,2)very popular and successful,这本书立刻获得,成功,。,The book was an immediate,hit,.,他为人热情、富有同情心,深得女士的,欢心,。,He was warm,sympathetic and a terrific,hit,.,48,Language Points,18.get our hands around,(,line 3,para.4),to,understand,to get the main idea.Sometimes,stated as get our heads around,”,.,49,Language Points,19.likelihood,n,(,line 6,para.4)the degree to which,sth can reasonably be expected to happen;probability,感染的,可能性,极小,。,The likelihood of,infection is minimal.,制裁,完全可能,发挥作用。,There is every likelihood that,sanctions will work.,50,Language Points,in all likelihood:,almost certainly,如果我拒绝了,,十有八九,我就要失业。,If I refused,it would,in all likelihood,mean I,d lose,my job.,51,Language Points,Synonyms:,chance,hope,possibility,probability,prospect,52,Language Points,20.proverbial,adj,(,line 6,para.4)well-known,famous,他们的慷慨大度是,出名,的。,Their generosity is,proverbial,.,美国孩子的独立是,众所周知,的。,The independence of American children is,proverbial.,53,Language Points,the proverbial black swan,(,line 6,para.4),A rare and unexpected event that was thought very,unlikely to occur,but when it does,it has extremely,large consequences.Swans are white,it was once,thought that any color other than white was impo-,ssible,particularly a black swan.When naturally,54,Language Points,occurring black swans were discovered in Australia,their existence shattered a long-held belief.There-,fore,a“black swan event”is an event thought to have been impossible,and when it occurs profundly shakes conventional thought.,55,Language Points,21.,explode,vt&vi,(last but 2nd line of para.4)to,burst,or to make sth burst,into small pieces,usually,with a loud noise and in a way that causes damage,校车被炮火击中,,引爆,了油箱。,A school bus was hit by gunfire which,exploded,the,fuel tank.,56,Language Points,Synonyms:,backfire,blast,blow up,burst,detonate,erupt,go off,make an explosion,set off,shatter,57,Language Points,22,.,assume,v,t,(last but 2nd line of para.4),1),to take,as true or as a fact without actual proof,每个人都误,认为有,人会带来甜点。,Everyone,assumed,wrongly,that someone else was,bringing dessert.,2),to take to or upon oneself,当事人双方都违反合同的,应当各自,承担,相应的,责任。,In case of bilateral breach,the parties shall,assume,their,respective liabilities,accordingly.,58,Language Points,3),to present a false appearance of,装腔作势、过分卖弄,的人,总是要露原形的。,They who,assume,a character that does,no,t belong to,them generally betray themselves by overacting it.,4),to undertake the duties of(an office),克劳斯先生将,任,总经理一职,手下有4位经理。,Mr.Cross will,assume,the role of Chief Executive,with a team of four directors.,59,Language Points,23.Ben Bernanke and Alan Greenspan,(,line 1,para.5)are the current and former chairmen of the,U.S.Federal Reserve Board,(美国联邦储备局),often called “The Fed”.This politically indepen-,dent board is very important in making decisions,about the American banking and economic system.,60,Language Points,24.real estate,(line 2,para.5),property in the form of,land or houses,最近,房地产,生意很景气。,There is the recent boom in,real estate,.,我父亲委托了一名,房地产,经纪人来卖我们的房子。,My father commissioned a,real estate,agent to sell,our house.,房地产,开发商,a,real estate,developer,61,Language Points,25.bubble,n,(line 2,para.5),1)In the stock market,a bubble exists when investors become overly con-,fident in the current and future value of some type,of investment.As more people compete to invest,the value increases.This makes the investment seem,good,more people compete to buy shares and the,value in creases more.This cycle continues and the,value continues t
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