Talking about the economy in English 1
✓ Useful for Cambridge BEC
A vocabulary exercise covering the language of economics and macroeconomic discussion. These terms appear in financial news, policy debates, and the professional conversations of economists and business analysts.
📚 Key vocabulary
GDP (Gross Domestic Product) — the total monetary value of all goods and services produced within a country's borders in a year
recession — a period of economic decline lasting at least two consecutive quarters, marked by falling output and rising unemployment
inflation rate — the percentage increase in the general price level of goods and services over a period of time
unemployment rate — the percentage of the labor force that is jobless and actively seeking work
trade deficit — when a country's imports of goods and services exceed its exports in value
austerity measures — government policies that reduce public spending and increase taxes to reduce budget deficits
quantitative easing — a monetary policy where a central bank purchases securities to increase money supply and stimulate growth
interest rate hike — an increase in a central bank's benchmark rate, typically used to control inflation
economic stimulus — government actions intended to encourage spending and investment to boost economic activity
consumer confidence index — a measure of how optimistic consumers are about economic conditions and their financial situation
GDP (Gross Domestic Product) — the total monetary value of all goods and services produced within a country's borders in a year
recession — a period of economic decline lasting at least two consecutive quarters, marked by falling output and rising unemployment
inflation rate — the percentage increase in the general price level of goods and services over a period of time
unemployment rate — the percentage of the labor force that is jobless and actively seeking work
trade deficit — when a country's imports of goods and services exceed its exports in value
austerity measures — government policies that reduce public spending and increase taxes to reduce budget deficits
quantitative easing — a monetary policy where a central bank purchases securities to increase money supply and stimulate growth
interest rate hike — an increase in a central bank's benchmark rate, typically used to control inflation
economic stimulus — government actions intended to encourage spending and investment to boost economic activity
consumer confidence index — a measure of how optimistic consumers are about economic conditions and their financial situation
READY TO PRACTICE? LET’S GO!
Choose the correct response to complete each sentence.
TOP TIP! Talking about the economy
Need to sound more natural (and more confident) speaking about the economy in English? Here are some useful tips:
Start with general trends
Use phrases like “Overall, the economy seems to be...” before giving details.
Use hedging to sound natural
Avoid absolute statements. Try: “It appears that...,” “There may be signs of...”
Compare time periods
Economy talk often involves change over time.
“Compared to last year...”
Distinguish facts from opinions
Signal opinions clearly: “In my view...” or “From my perspective...”
Use approximate language
Exact numbers aren't always needed.
“Roughly,” “around,” “just over,” “slightly less than”
Emphasize cause and effect
Link ideas clearly: “As a result,” “This has led to...”
Avoid overusing technical jargon
Use technical terms only when necessary, and explain them if needed.
Use the passive voice appropriately
Common in economic discussions:
“Interest rates were increased to control inflation.”
Acknowledge uncertainty
Economies are unpredictable.
“It's hard to say whether this trend will continue.”
Refer to data carefully
Say “According to recent figures...” rather than inventing numbers.
Start with general trends
Use phrases like “Overall, the economy seems to be...” before giving details.
Use hedging to sound natural
Avoid absolute statements. Try: “It appears that...,” “There may be signs of...”
Compare time periods
Economy talk often involves change over time.
“Compared to last year...”
Distinguish facts from opinions
Signal opinions clearly: “In my view...” or “From my perspective...”
Use approximate language
Exact numbers aren't always needed.
“Roughly,” “around,” “just over,” “slightly less than”
Emphasize cause and effect
Link ideas clearly: “As a result,” “This has led to...”
Avoid overusing technical jargon
Use technical terms only when necessary, and explain them if needed.
Use the passive voice appropriately
Common in economic discussions:
“Interest rates were increased to control inflation.”
Acknowledge uncertainty
Economies are unpredictable.
“It's hard to say whether this trend will continue.”
Refer to data carefully
Say “According to recent figures...” rather than inventing numbers.
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