Académique Documents
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LIVIU-MIHAIL MARINESCU
2014
Liviu-Mihail Marinescu
Liviu-Mihail Marinescu
INTRODUCTION
The module titled ENGLISH FOR ECONOMICS-2, which is studied in the first
academic year 2nd semester, aims at obtaining specific skills regarding the
knowledge and use of English by those working in an economic environment.
After studying and learning the content of this module, you will acquire the
following general skills:
Liviu-Mihail Marinescu
build up, using the key words extracted, short texts (about ten lines) in
which you should present your own ideas concerning an economic theme
approached;
- define and explain the elements of business correspondence (business thank
you letter) in English.
The next two modules are focussed on developing your business
correspondence abilities.
In order to assess your degree of knowledge assimilation, you will pass through
a control test, which you will further receive corrected for a better
understanding of your actual English performance.
An efficient learning requires from you the observing of the following steps:
Liviu-Mihail Marinescu
CONTENTS
1. Economic outline of Romania
Economic and Political Outline Economic Indicators
(Studying a Macroeconomic Text Part 1)
Main Sectors of Industry (Studying a Macroeconomic Text
Part 2)
Two Meanings of Economic Growth (Studying a
Macroeconomic Text Part 3)
Company Correspondence: Internal Memorandum to
Employee
Language Approach Part 1
Specific Objectives of the Learning Unit
Abstract
Self-Evaluation Tests
Key to the Self-Evaluation Tests
Minimal Bibliography
2. Romanian Industry
Romanian Industry before and after the Economic Crisis.
Part 2
Romanian Industry Slows Down Growth Pace because of
Crisis
Commercial Correspondence - Business Thank You Letter
Language Approach Part 2
Specific Objectives of the Learning Unit
Abstract
Self-Evaluation Tests
Key to the Self-Evaluation Tests
Control Test
Minimal Bibliography
Liviu-Mihail Marinescu
Liviu-Mihail Marinescu
Specific objectives:
At the end of the chapter, you will have the capacity to:
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1.1.
Vocabulary:
Application (meanings)
application form;
apprentice, trainee;
apprenticeship;
CV (curriculum vitae);
job interview;
skilled worker;
to apply for a job;
training;
training course;
vacancy.
Unemployment (meanings)
period of notice;
to be unemployed;
to be out of work;
to be on the dole (BE);
to fire somebody;
to sack somebody (BE);
to give somebody notice;
to dismiss somebody;
to hand in one's notice;
to resign;
to quit;
unemployment;
unemployment benefit, dole money.
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a full-time job;
a part-time job;
continued payment of wages;
flexitime;
pay slip;
salary;
to get a rise;
to get a raise;
to work in shifts;
to work overtime;
wage cut;
wage demand, claim;
wage group;
wages.
Work task 1
Using the vocabulary presented above, compose sentences one for
each item.
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retired from the practice. Practice is the verb form, as in He practices piano
every evening; We must practise economy if we are to remain solvent, He is a
medical doctor, but he no longer practises his profession. Note that practise is
not one of the verbs that can end in - ize. In American English both the noun
and the verb are spelt practice.
These words are both connected to the nouns economy but they have different
meanings.
Economic means referring or related to the economy as in the government's
economic policies and studying economic theory. Economical means thrifty,
avoiding waste and cheap, as in It is more economical for four of us to by car
than by train. (here economical means cheap). Another example: She is a very
economical housekeeper. (when economical means avoiding waste). The
phrase economical with the truth is a less forthright way of saying lying as in
politicians accused of being economical with the truth.
Former refers to the first of two people or things mentioned while latter refers
to the second of two people or things mentioned, as in He was given two
options, either to stay in his present post but accept less money or to be
transferred to another branch of the company. He decided to accept the
former / latter option. Former also means previous, at an earlier time, as in
He is a former chairman of the company and She is a former holder of the
championship title.
Work task 2
Build up a text of approximately twenty lines using samples from
the semantic parallels above.
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uneconomic growth in the second sense, namely growth that increases costs
faster than benefits, thereby making us poorer. Nevertheless, we assume that a
bigger economy must always make us richer. This is pure confusion.
That economists should contribute to this confusion is puzzling because all of
microeconomics is devoted to finding the optimal scale of a given activity
the point beyond which marginal costs exceed marginal benefits and further
growth would be uneconomic. Marginal Revenue = Marginal Cost is even
called the when to stop rule for growth of a firm. Why does this simple logic
of optimization disappear in macroeconomics? Why is the growth of the
macroeconomy not subject to an analogous when to stop rule?
We recognize that all microeconomic activities are parts of the larger
macroeconomic system, and their growth causes displacement and sacrifice of
other parts of the system. But the macroeconomy itself is thought to be the
whole shebang, and when it expands, presumably into the void, it displaces
nothing, and therefore incurs no opportunity cost. But this is false of course.
The macroeconomy too is a part, a subsystem of the biosphere, a part of the
Greater Economy of the natural ecosystem. Growth of the macroeconomy too
imposes a rising opportunity cost that at some point will constrain its growth.
But some say that if our empirical measure of growth is GDP, based on
voluntary buying and selling of final goods and services in free markets, then
that guarantees that growth consists of goods, not bads. This is because people
will voluntarily buy only goods. If they in fact do buy a bad then we have to
redefine it as a good. True enough as far as it goes, which is not very far. The
free market does not price bads, true but nevertheless bads are inevitably
produced as joint products along with goods. Since bads are un-priced, GDP
accounting cannot subtract them instead it registers the additional production
of anti-bads, and counts them as goods. For example, we do not subtract the
cost of pollution, but we do add the value of the pollution clean-up. This is
asymmetric accounting. In addition we count the consumption of natural
capital (depletion of mines, well, aquifers, forests, fisheries, topsoil, etc.) as if
it were income. Paradoxically, therefore, GDP, whatever else it may measure,
is also the best statistical index we have of the aggregate of pollution,
depletion, congestion, and loss of biodiversity. Economist Kenneth Boulding
suggested, with tongue only a little bit in cheek, that we re-label it Gross
Domestic Cost. At least we should put the costs and the benefits in separate
accounts for comparison. Not surprisingly, economists and psychologists are
now discovering that, beyond a sufficiency threshold, the positive correlation
between GDP and self-evaluated happiness disappears.
In sum, economic growth in sense 1 can be, and in the United States has
become, uneconomic growth in sense 2. And it is sense 2 that matters.
(Adapted from Herman Daly - Published Mar 1 2010 by Centre for the
Advancement of a Steady State Economy)
Work task 3
Build up a text of approximately ten lines using ten of the key
words from the learning unit above
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Liviu-Mihail Marinescu
This sentence describes actions ("ran" and "was writing") that took place
sometime in the past, and emphasises the continuing nature of one of the
actions ("was writing").
The archivists were eagerly waiting for the delivery of the former prime
minister's private papers.
Here the ongoing action of "waiting" occurred at some time unconnected to the
present.
Between 1942 and 1944 the Frank and Van Damm families were hiding in an
Amsterdam office building.
In this sentence, the action of hiding took place over an extended period of
time and the continuing nature of the hiding is emphasised.
Abstract
Romania remains one of the poorest European countries, but has considerable
potential for development because of its rich agricultural lands, educated &
skilled work force, and tourism.
PRACTICE vs. PRACTISE
These words are not interchangeable. Practice is a noun, as in He has gone to
football practice; It is time to put the plan into practice; It is accepted practice
to tip the waiters and our doctor has retired from the practice. Practice is the
verb form.
ECONOMIC vs. ECONOMICAL
These words are both connected to the nouns economy but they have different
meanings. Economic means referring or related to the economy as in the
government's economic policies and studying economic theory. Economical
means thrifty, avoiding waste and cheap.
FORMER vs. LATTER
Former refers to the first of two people or things mentioned while latter refers
to the second of two people or things mentioned. The simple past is used to
describe an action, an event, or condition that occurred in the past, sometime
before the moment of speaking or writing. The verbs in the following sentences
that are in the simple past tense describe an action taking place at some point in
past. The past progressive tense is used to describe actions ongoing in the past.
These actions often take place within a specific time frame. While actions
referred to in the present progressive have some connection to the present,
actions referred in the past progressive have no immediate or obvious
connection to the present. The on-going actions took place and were completed
at some point well before the time of speaking or writing.
Self-Evaluation Tests - Learning Unit 3
1. Choose the correct verb at Past Tense.
The day .......... terribly, and went awfully after.
Liviu-Mihail Marinescu
Liviu-Mihail Marinescu
Liviu-Mihail Marinescu
Minimal Bibliography:
Emerson, Paul (2008). Business English. Macmillan.
Evans, David (2003). Decisionmaker. Cambridge: Cambridge University
Press.
Gavriliu, Eugenia (1998). English for Economics. Galai: Zigotto, Galai.
Hulban, Horia (1997). English for You. Iai: Fundaia Academic "Petre
Andrei". Rzeu.
Mariana, Nicolae (2008). Corespondenta comerciala in limba engleza.
Bucureti: Editura Universitara.
Miroiu, Mihai (1992). English Business Letters. Corespondena de afaceri n
limba englez. Alexandria: Editura Andreescu.
Liviu-Mihail Marinescu
2. ROMANIAN INDUSTRY
2.1.Romanian Industry before and after
the Economic Crisis. Part 2
2.2.
Romanian Industry Slows Down Growth Pace
because of Crisis
2.3.
Commercial Correspondence - Business Thank
You Letter
2.4. Language Approach Part 4
Specific Objectives of the Learning Unit
Abstract
Self-Evaluation Tests
Key to the Self-Evaluation Tests
Control Test
Minimal Bibliography
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Specific objectives:
At the end of the chapter, you will have the capacity to:
build up, using the key words extracted, short texts (about ten lines) in
which you should present your own ideas concerning an economic
theme approached;
Liviu-Mihail Marinescu
Work task 1
Build up fifteen sentences using the key words in the text.
Liviu-Mihail Marinescu
Work task 2
Build up fifteen sentences using the key words in the text.
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Liviu-Mihail Marinescu
Yours sincerely,
Jackson Pritchard
Fundraising Chair
2.4. Language Approach Part 4
The Past Perfect Tense
The past perfect tense is used to refer to actions that took place and were
completed in the past. The past perfect is often used to emphasise that one
action, event or condition ended before another past action, event, or condition
began.
Miriam arrived at 5:00 p.m. but Mr. Whitaker had closed the store.
All the events in this sentence took place in the past, but the act of closing the
store takes place before Miriam arrives at the store.
After we located the restaurant that Christian had raved about, we ate supper
there every Friday.
Here the praise ("had raved") precedes the finding ("located") of the restaurant.
Both actions took place sometime before the moment of speaking or writing.
The elephant had eaten all the hay so we fed it oats for a week.
In this sentence, both actions take place in the past, but the eating of the hay
("had eaten") preceded the eating of the oats ("fed").
The heat wave had lasted three weeks.
While the sentence "The heat wave has lasted three weeks" suggests that a
condition began in the past and continues into the present, this sentence
describes an action that began and ended sometime in the past ("had lasted").
By using the past perfect the writer indicates that the heat wave has no
connection to any events occurring in the present.
After she had learned to drive, Alice felt more independent.
Here the learning took place and was completed at a specific time in the past.
By using the past perfect rather than the simple past ("learned"), the writer
emphasises that the learning preceded the feeling of independence.
Liviu-Mihail Marinescu
Liviu-Mihail Marinescu
Dear Sirs
Thank you for your Order No.B/124/05 dated 1st April 20 four wagons of
cement.
As this is our first transaction with your company, we would appreciate if you
can kindly supply us with two references.
Thanking you
Yours faithfully
(Sales Manager)
Encl. As stated above
R & R Associates of 128 Stadium Road, DL. , LONDON have not paid you
Rs.14, 800/- for Steel furniture supplied to them in March 20_.
Liviu-Mihail Marinescu
(Signature)
Liviu-Mihail Marinescu
Sales Manager
This letter asks a business person to recommend a contractor to do a specific
job for your company. Remember to include any incentive you might want to
offer.
03/16/11
<Recipient Address Goes Here>
Hello.
We will be beginning a very important <describe the type of project> within
the next. The problem is, we don't have the skills we need in-house, and don't
know of a freelance For example: "writer" or "graphic designer" who we can
trust to deliver the work on deadline. I'd like to know if you've used a For
example: "writer" or "graphic designer" whom you would recommend.
The project will begin about <starting date> and will need to be complete by
<completion date>. If you have used anyone whose work you trust and who
would be available for that period, please have him or her call me at <phone
number> I would really appreciate it, and I'd be happy to return the favor
anytime. Thanks in advance for the help!
Regards,
Ramania
Checking References.
H Brothers
124 MahaRoad
November 7 2011
Liviu-Mihail Marinescu
Pune
Dear Sirs,
We have received your name from M/s Sitapati Associates, who have
placed an order worth USD 3,50,000 with us and furnished your name
as reference.
We shall be greatly obliged if you kindly advise us whether we should
execute the order under reference. Any information, furnished by you,
shall be treated as strictly confidential.
We shall be happy to reciprocate with similar information, in case you
need any reference from us.
Thanking you
Your faithfully
J J Simpson
Partner
Abstract
Romania has been successful in developing the industry sector after the end
of the end of 90s. Except for mining, most industries were located in the
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urban areas of the northwest and southeast. Heavy industries generally were
located in the south of the country. Factories in Bucharest contributed over
25 percent of all manufacturing value-added in 1998; taken together with
factories in surrounding Ilfov, factories in the Bucharest area produced 26
percent of all manufacturing that year. Factories in Bucharest employed 12
percent of the nation's 2.1 million factory workers. The past perfect tense is
used to refer to actions that took place and were completed in the past. The
past perfect is often used to emphasise that one action, event or condition
ended before another past action, event, or condition began. The past
perfect progressive is used to indicate that a continuing action in the past
began before another past action began or interrupted the first action.
Liviu-Mihail Marinescu
Liviu-Mihail Marinescu
6. Match the question to the answer: Which day did he say he was coming?
a) Tuesday, I think.
b) At least fifteen minutes.
c) About ten minutes ago. It was dreadful, endless arguments.
7. Match the question to the answer: What time did he say he was coming.
a) I did. Can you put him though on my phone?
b) Only ten minutes. He was in a hurry.
c) He didn't say exactly but he said it would be late afternoon.
8. Match the question to the answer: Why did you tell him that?
a) I'm sorry. I didn't realise that it was confidential.
b) Only ten minutes. He was in a hurry.
c) About ten minutes ago. It was dreadful, endless arguments.
9. Match the question to the answer: How long did he stay?
a) I did. Can you put him though on my phone?
b) Only ten minutes. He was in a hurry.
c) Sorry. it completely slipped my mind.
10. Match the question to the answer: How long ago did she arrive?
a) At least fifteen minutes.
b) I did. Can you put him though on my phone?
c) Tuesday, I think.
Key to the Self-Evaluation Tests
1. b; 2. b; 3. b; 4. c; 5. a; 6. a; 7. c; 8. a; 9. b; 10. a.
Control Test
1. Translate the following text into English:
Stadiul de dezvoltare la care ajunsese economia Romniei la sfritul anului
1989, dup mai bine de patru decenii de guvernare comunist, este evideniat
prin trsturile de baz ale mecanismului de funcionare a vieii economice i
sociale din acea perioad. Una dintre trsturi era dominaia proprietii
socialiste, de stat i cooperatiste, monopolul acesteia n toate ramurile
economiei naionale, care i-a pus amprenta asupra funcionrii ntregului
Liviu-Mihail Marinescu
Liviu-Mihail Marinescu
2. Build up a twenty line paragraph using ten of the key words extracted from
the first learning unit - 4.1. Romanian Industry before and after the Economic
Crisis. Part 1 - Diachronic Overview and pre-Crisis Prospects in accordance
with the economic problems presented within the text, and using your own
economic vocabulary
3. Extract the key words from the second learning unit 4.2. Romanian Industry
before and after the Economic Crisis. Part 2 - Romanian Industry Slows Down
Growth Pace because of Crisis, and rephrase the text with using synonyms.
Minimal Bibliography:
Evans, David (2003). Decisionmaker. Cambridge: Cambridge University
Press.
Gavriliu, Eugenia (1998). English for Economics. Galai: Zigotto.
Hulban, Horia (1997). English for You. Iai: Fundaia Academic "Petre
Andrei". Rzeu.
Mariana, Nicolae (2008). Corespondenta comerciala in limba engleza.
Bucureti: Editura Universitara.
Miroiu, Mihai (1992). English Business Letters. Corespondena de afaceri n
limba englez. Alexandria: Editura Andreescu.
Neagu, Mariana; Daniela arpe (1999). Dicionar explicativ englez - romn de
termeni economici. Galai: Editura Alma.
Powell, Mark (1996). Business Matters. Hove: Language Teaching
Publications.
Schibsbye, Knud (1991). A Modern English Grammar. Oxford: Oxford
University Press.
Turcu, Fulvia; Violeta Nstsescu (1991). Limba
ntreprinztori i oameni de afaceri. Iai: Editura Sagitariu.
englez
pentru
Vasilescu Ruxandra (coord) (2008). Dictionar de termeni economici romanenglez-francez-spaniol. Bucureti: Polirom.
Liviu-Mihail Marinescu
3. COMMERCIAL CORRESPONDENCE
3.1.THE BASIC STRUCTURE OF A FORMAL LETTER
The rules of writing a business letter might be arbitrary, but taken together they
create a formula that produces clarity. When a letter follows all the rules, the
reader doesnt have to struggle to figure out where a piece of information might
be, what action they should take next, or who sent it everything can be
found in its place. Knowing the rules of letter writing is, in that sense, akin to
knowing the rules of page layout, i.e. the format of the document should
support and clarify the content.
From top to bottom, a formal letter contains the following elements:
Return address and date: (Upper right hand corner) Once upon a time, this was
necessary in case the letter became separated from the envelope, but I doubt
that happens much anymore. Even so, this is where your reader is going to look
to find your address and the date the letter was written, so it should be there.
Mailing address of recipient: (Left-hand side, one line below the return
address) This identifies the recipient of the letter. In office environments, letters
are often removed from their envelopes and circulated; this helps the letter get
back to its rightful recipient.
Salutation: (Two lines below the recipients address, or about 1/3 down the
page) The person the letter is intended for. Avoid Dear Sir/Madam and
especially To Whom it May Concern unless absolutely necessary; not
directing a letter to an exact recipient suggests that you dont care who reads it
(or you would have made a call or checked their website) and may prevent
the letter from reaching someone who can act on your letter.
Body: The body of the letter has three parts: an introduction that should explain
who you are and why you are writing, a middle part that gives the details and
persuades your reader to act, and a closing that tells your reader what action
you expect or would like them to take.
Valediction: (Left-aligned, two lines below the body) This is the line before
your signature. For people whose name you dont know, use Faithfully yours
Liviu-Mihail Marinescu
but avoid writing letters without finding out a name first. When you know
the recipients name, sign it Sincerely yours or just Sincerely, or in the US
Yours truly is acceptable. Dont try anything more cutesy or friendly unless
a) you know the recipient quite well and are certain you can be informal
without seeming disrespectful, or b) you have a trademark letter ending thats
part of your public persona (and the talent and popularity to pull it off).
Signature and printed name: Signing your name is a minimal assurance that
you stand behind what was written. Since your signature is likely to be difficult
to read, type your name down a couple of lines so that your reader knows who
is writing to them.
Enclosures: (Below signature block) If you have included any further material
a business card, a brochure, a price sheet, whatever list the number of
items and describe each.
Include address of the person you are writing to at the top of the letter, below
your company address.
Double space (or as much as you need to put the body of the letter in the
center) and include the salutation. Include Mr. for men or Mrs, Miss, Ms for
women, unless the recipient has a title such as Dr.
State a reference reason for your letter (i.e. 'With reference to our telephone
conversation...'
Give the reason for writing (i.e. 'I am writing to you to confirm our order...')
Make any request you may have (i.e. 'I would be grateful if you could include a
brochure...'
If there is to be further contact, refer to this contact (i.e. 'I look forward to
meeting you at...')
Close the letter with a thank you (i.e. 'Thank you for your prompt help...')
Liviu-Mihail Marinescu
Include four spaces and type your full name and title
sign the letter between the salutation and the typed name and title
Tips:
Do not use shortened verb forms - write them out (i.e. 'don't instead of do not')
Liviu-Mihail Marinescu
WRITING
BUSINESS
LETTERS
Useful phrases
Salutation
Dear Mr Brown
Dear Ms White
Dear Sir
Dear Sirs
Dear Madam
Gentlemen
We are
writing
to
inform
you
that
to
confirm
...
to
request
...
previous contact
Referring
...
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With
reference
to
our
telephone
conversation
yesterday ...
Making a request
discussed on Tuesday . . .
We would appreciate it if you ...
I am interested in (obtaining/receiving...)
Offering help
Complaining
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arrived.
considerably overdue.
unusually high.
Apologizing
would
like
to
apologize
for
(the
delay/the
inconvenience) ...
Orders
Prices
out of stock.
Please send us your price list.
Liviu-Mihail Marinescu
Referring to payment
Enclosing documents
Closing remarks
Referring
to
future
business
Referring to future
contact
"
"
Liviu-Mihail Marinescu
Ending
letters
Sincerely,
Sincerely
Regards,
yours,
business
(for those you already know and/or
with whom you already have a
working relationship.)
Work task 2
Build up a short letter requesting an offer. (2 lines)
Minimal Bibliography:
Evans, David (2003). Decisionmaker. Cambridge: Cambridge University
Press.
Gavriliu, Eugenia (1998). English for Economics. Galai: Zigotto.
Hulban, Horia (1997). English for You. Iai: Fundaia Academic "Petre
Andrei". Rzeu.
Mariana, Nicolae (2008). Corespondenta comerciala in limba engleza.
Bucureti: Editura Universitara.
Miroiu, Mihai (1992). English Business Letters. Corespondena de afaceri n
limba englez. Alexandria: Editura Andreescu.
Neagu, Mariana; Daniela arpe (1999). Dicionar explicativ englez - romn de
termeni economici. Galai: Editura Alma.
Powell, Mark (1996). Business Matters. Hove: Language Teaching
Publications.
Schibsbye, Knud (1991). A Modern English Grammar. Oxford: Oxford
University Press.
Turcu, Fulvia; Violeta Nstsescu (1991). Limba
ntreprinztori i oameni de afaceri. Iai: Editura Sagitariu.
englez
pentru
Liviu-Mihail Marinescu
3. COMMERCIAL CORRESPONDENCE
3.1.THE ESSENTIAL STRUCTURE OF A WRITTEN PRESENTATION
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Work task 1
Build up a short inquiry. (2 lines)
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Work task 2
Build up a short report. (6 lines maximum)
Minimal Bibliography:
Evans, David (2003). Decisionmaker. Cambridge: Cambridge University
Press.
Gavriliu, Eugenia (1998). English for Economics. Galai: Zigotto.
Hulban, Horia (1997). English for You. Iai: Fundaia Academic "Petre
Andrei". Rzeu.
Mariana, Nicolae (2008). Corespondenta comerciala in limba engleza.
Bucureti: Editura Universitara.
Miroiu, Mihai (1992). English Business Letters. Corespondena de afaceri n
limba englez. Alexandria: Editura Andreescu.
Neagu, Mariana; Daniela arpe (1999). Dicionar explicativ englez - romn de
termeni economici. Galai: Editura Alma.
Powell, Mark (1996). Business Matters. Hove: Language Teaching
Publications.
Schibsbye, Knud (1991). A Modern English Grammar. Oxford: Oxford
University Press.
Turcu, Fulvia; Violeta Nstsescu (1991). Limba englez pentru ntreprinztori i oameni de
afaceri. Iai: Editura Sagitariu.
Liviu-Mihail Marinescu
Liviu-Mihail Marinescu