词汇讲解：

1. application n. 应用,适用；申请
例句：I made an application for a loan.
我申请一笔贷款。

2. graduate vt. 准予...毕业;授予...学位
例句：Mary was graduated from Oxford.
玛丽毕业于牛津大学。

3. increase vt. 增大;增加
例句：Travel increases one's knowledge of the world.
旅游增进人对世界的了解。

4. possible adj. 有可能的
例句：I'll do everything possible to help you.
我将尽一切可能帮助你。

5. reflection n. 反射;回响
例句：Law is the reflection of economic conditions.
法律是经济状况的反映。

6. financial adj. 财政的
例句：We suffered huge losses in the financial crisis.
我们在金融危机中损失惨重.

7. admission n. 承认,许可
例句：She has the qualifications for admission to the college.
她具备进入该学院的条件。

8. phenomenal adj. 惊人的, 显著的
例句：You have a phenomenal memory.
你的记忆力惊人。

短语讲解：

1. The increase is the same as two years ago. Last year's gain was eleven percent.

the same as 跟...一样
例句：The two brothers look the same as each other.
这兄弟俩长得一样。

2. But the share of the applicant pool that actually ends up enrolling in U.S. graduate programs is a bit lower though their application numbers were considerably higher.

end up 结束
例句：You will end up in debt if you keep on spending money like that.
你要是老这样花钱,总有一天要负债。
a bit 有点
例句：Your article is a bit long.
你的文章长了一点。

3. This year is the seventh year of big increases in applications from China, where Ms. Stewart points out that more and more students are finishing college.

point out 指出
例句：He pointed out the mistake to me.
他向我指出错误。
more and more 越来越
例句：The park is becoming more and more beautiful.
公园越来越美了。