Download Unit 1 - Камышинский технологический институт

ФЕДЕРАЛЬНОЕ АГЕНТСТВО ПО ОБРАЗОВАНИЮ
ГОСУДАРСТВЕННОЕ ОБРАЗОВАТЕЛЬНОЕ УЧРЕЖДЕНИЕ
ВЫСШЕГО ПРОФЕССИОНАЛЬНОГО ОБРАЗОВАНИЯ
ВОЛГОГРАДСКИЙ ГОСУДАРСТВЕННЫЙ ТЕХНИЧЕСКИЙ УНИВЕРСИТЕТ
КАМЫШИНСКИЙ ТЕХНОЛОГИЧЕСКИЙ ИНСТИТУТ (ФИЛИАЛ)
ВОЛГОГРАДСКОГО ГОСУДАРСТВЕННОГО ТЕХНИЧЕСКОГО УНИВЕРСИТЕТА
Кафедра «Иностранные языки»
ENGLISH FOR THE STUDENTS OF ECONOMICS
Методические указания
по развитию навыков устной речи
на английском языке
РПК «Политехник»
Волгоград
2005
ББК 81.2 Англ – 9 я 7
А 64
ENGLISH FOR THE STUDENTS OF ECONOMICS: Методические
указания по развитию навыков устной речи на английском языке / Сост.
М. В. Мищенко; Волгоград. гос. техн. ун-т. – Волгоград, 2005. – 31 с.
Предназначены для студентов экономических направлений вуза.
Включают систему текстов и упражнений, направленных на закрепление
в речи активной лексики и развитие навыков чтения и говорения.
Тематика текстов охватывает широкий спектр экономических вопросов.
Библиогр.: 4 назв.
Рецензент Л. М. Бурдоленко
Печатается по решению редакционно-издательского совета
Волгоградского государственного технического университета
Составитель: Марина Владиславовна Мищенко
ENGLISH FOR THE STUDENTS OF ECONOMICS
Методические указания
по развитию навыков устной речи
на английском языке
Печатаются в авторской редакции
Темплан 2005 г., поз. № 64.
Подписано в печать 11. 03. 2005 г. Формат 60×84 1/16.
Бумага потребительская. Усл. печ. л. 1,94
Усл. авт. л. 1,75. Тираж 50 экз. Заказ № .
Волгоградский государственный технический университет
400131 Волгоград, просп. им. В. И. Ленина, 28.
РПК «Политехник»
Волгоградского государственного технического университета
400131 Волгоград, ул. Советская, 35.
©
2
Волгоградский
государственный
технический
университет, 2005
ПРЕДИСЛОВИЕ
Данные методические указания предназначено для студентов
экономических направлений вуза. Цель работы – активизация навыков
чтения, перевода текстов и ведения беседы на иностранном языке по
данному направлению.
Методические указания включают систему текстов и упражнений,
направленных на закрепление в речи активной лексики и развитие
навыков чтения и говорения. Тематика текстов охватывает широкий
спектр экономических вопросов.
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UNIT 1
From the history of economics. Economics as a science today
Active Vocabulary
1. economics — экономическая наука
2. economic —1. экономический; 2. экономически выгодный;
рентабельный
3. economical — 1. экономный, бережливый; 2. экономичный
4. economist — экономист
5. economize — экономить; экономно расходовать или использовать
6. economy — хозяйство, экономика
7. to take economics – изучать экономику
8. to deal with smth – иметь дело с чем-либо
9. to have deep roots in – иметь глубокие корни в
10. to be of great importance to - иметь большое значение (важность) для
11. social – общественный, социальный
12. science – наука, область науки
13. scientist - ученый
14. to become aware of/that – знать, сознавать, отдавать себе отчет в (том,
что)
15. society – 1. общество; 2. объединение, организация
16. resources – запасы, ресурсы, средства; природные богатства
17. valuable – 1. ценный, дорогой; 2. полезный
18. value – 1. ценность, важность, полезность; 2. стоимость, цена; 3. оценивать, устанавливать цену
19. distribute – распределять, раздавать
20. graph - график, кривая
21. unemployment – безработица
22. employment – 1. служба, занятие работа; 2. занятость
23. unemployment rate – уровень безработицы
24. inflation - инфляция
25. economic growth – экономический рост
26. population growth – рост населения
27. revolutionary upheaval - революционный переворот
28. monetary policy – кредитно-денежная политика, валютная политика
29. fiscal policy – финансово-бюджетная политика
30. scarce – 1. недостаточный, скудный; 2. редкий, дефицитный
31. commodity – товар
32. enterprise – предприятие (фабрика, завод и т.п.); предпринимательство
33. a new way of looking - новый взгляд
34. to be unfamiliar to smb. – быть неизвестным, незнакомым для коголибо
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35. to stay up late doing smth. – долго засиживаться, делая что-либо
36. increase – (n.) увеличение, прибавление, рост, прирост
37. increase – (v.) увеличивать(ся), расти, усиливаться
TEXT
Economics is a social science studying economy. Why study economics?
In fact, people do it for countless reasons. For many people concern for the
economy goes no further than the price of tuition or the fear of losing a job.
Many others, however, are becoming aware that their job prospects and the
prices they pay are somehow related to national trends in prices, unemployment, and economic growth. Although few people think in terms of price indexes and graphs, most of us now recognize the importance of major economic
events. And that's why so many people worry about such abstractions as unemployment rates, inflation, economic growth, etc.
Economics has deep routs in, and close ties to, social philosophy. An issue of great importance to philosophers, for example, is distributional justice.
Why are some people rich and others are poor? And, whatsoever the answer, is
it fair? A number of nineteenth century social philosophers wrestled with these
questions and out of their musings economics as a separate discipline was
born.
As a scholarly discipline, economics is two centuries old. The first scientist who made extraordinary contributions in economics was Adam Smith.
Almost a century later, as capitalist enterprises began to spread, there appeared the massive critique of capitalism: Karl Marx's "Capital".
In 1936 John Maynard Keynes published 'The General Theory of Employment, Interest and Money". Economics was supposed to help government
monetary and fiscal policies to tame the worst ravages of business cycles.
What exactly is the subject that the economists from Smith to Marx to the
present generation have analyzed?
Economics is the study of how societies use scarce resources to produce
valuable commodities and distribute them among different people.
As you begin your study of economics, keep in mind that economics will
teach you a new way of looking at the world. In some cases, you will find that
the topics we discuss are completely unfamiliar to you. But most of the time
you will be looking at things that you already know about from a different perspective. You will discover, for example, that the complex decisions of huge
multinational corporations are based on some of the same principals that guide
everyday choices like whether to take a day off or to stay up late studying.
Assignments
1. Put the right word in the blanks.
economy, economics, economic, economical, economically, economist, to
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economize
1. Marx and Keynes are two famous ______.
2. Those people are studying the science of ______.
3. We sometimes call a person's work his ______ activity.
4. People should be very____ with the money they earn.
5. The ____ system of a country is usually called the national __.
6. The people in that town live very ____.
7. Oka is the most _______ car in Europe.
8. Many people think that __________situation in Russia is improving.
9. ________housewives use lots of ways of saving about the house.
10. Do you want to major in _________?
11. The study shows that Russian people don’t like ______________on food.
12. The first Nobel prize in __________ was awarded in 1969.
2. Translate the sentences from English into Russian paying attention to the
words from the Active Vocabulary.
1. I’d rather economize on holidays (развлечения) than food.
2. He became aware of danger.
3. My hobby is to collect scarce books.
4. Many scientists tried to solve the problem of distribution of scarce re
sources.
5. The economy of the country was completely destroyed after the revolution
ary upheaval.
6. The money that has been collected will be distributed among all the children’s hospitals in the area.
7. What is the value of these things?
8. He valued my work greatly.
9. The rate of unemployment in this country is rather high; the government is
doing its best to reduce it.
10. I found this job through the employment agency.
11. Our scientific society takes part in the conference this week.
12. Monetary and fiscal policies of the government slowed the inflation down.
3. Translate the sentences from Russian into English.
1. После школы я буду изучать экономику.
2. Наука экономика возникла два века назад.
3. Адам Смит был выдающимся экономистом.
4. В нашем городе много частных предприятий.
5. Правительство обеспокоено ростом безработицы в стране.
6. Этот график показывает распределение цен на различные виды товаров.
7. Эти факты мне не знакомы.
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8. Я часто засиживаюсь допоздна, делая домашние задания.
9. Экономика имеет глубокие корни с социальной философией и тесно
связана с ней.
10. Экономика имеет дело с такими проблемами как инфляция и безработица.
4. Answer the questions.
a)
1. What is economics? What does it study?
2. What is the difference between "economy" and "economics"?
3. Why do people study economics? Give your personal opinion.
4. Does economics have deep roots, and close ties to, social philosophy?
Why?
5. What problems does economics deal with?
6. When did economics appear?
7. Who made extraordinary contributions in economics? Do you know the
names of other scientists studying economics?
8. What is John Keynes famous for?
9. Can people say that most decisions they make are economic decisions?
b)
When did you make the first economic discoveries? (to want, to buy, to have,
to sell; children, adults, young people).
5. Summaries the text
NOTE: To summarize means to make a short general statement of the
main points of the text or other peaces of information. To find the main points
try to identify the key words and the topic sentences of the text. They are the
most important words and sentences that help us understand or explain it.
6. Read about scientists who contributed much into the developing the science of economics. If necessary, consult the dictionary.
Adam Smith
Adam Smith was a great scientist who made extraordinary contribution in
economics.
He was born in 1723 in Kircaldy, a small fishing town near Edinburgh,
Scotland. His father was a customs officer. He died before his son was born.
At the age of 28 Adam Smith became a professor of logics at the University of Glasgow. It was his first academic appointment. Some time latter he became a tutor to a wealthy Scottish duke. Then he received a grant of £300 a
year. It was a big sum, 10 times bigger the average income at that time.
With the financial security of this grant, Smith devoted ten years to writing his work which founded economic science. Its full title was An Inquiry into
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the Nature and Causes of the Wealth of Nations. It was published with great
success in 1776.
Adam Smith made economics a science. This Scottish economist is often
regarded as a founder of political economy too.
John Maynard Keynes
John Maynard Keynes (1883-1946) is an English economist, whose The
General Theory of Employment, Interest and Money (1936) proposed the prevention of financial crisis and unemployment by adjusting demand through
government control of credit and currency. He is responsible for that part of
economics now known as macroeconomics.
John Maynard Keynes saw the cause of a depression in reduced demand.
He suggested that governments stimulate consumption by putting money into
consumers’ pockets through tax cuts or directly increase governments’ own
expenditure to stimulate demand.
8. Say, whether these statements are true or false, and if they are false, say
why.
In my opinion it is true that…
I’m afraid it is false that…..because….
1. People all over the world are interested in economics.
2. Economics is an old discipline.
3. It was Karl Marx who founded economic science.
4. Knowledge of economics is important to everyone now.
5. People make important economic discoveries only when they are old.
6. Adam Smith is regarded to be the father of political economics.
7. John M. Keynes is the founder of macroeconomics.
8. Economics deals with such problems as unemployment, inflation, economic
growth, etc.
Speaking and writing practice
With your fellow student choose an economist to write an essay about.
Making use of the vocabulary of the lesson discuss his or her life and work.
Outline the main points to be covered in the essay. Write an essay (15-20 sentences), read it out and discuss it.
UNIT 2
Economic systems
Active Vocabulary
1. command economy — централизованно управляемая экономика;
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нерыночная экономика
2. free market economy — свободная рыночная экономика
3. mixed economy — смешанная экономика
4. society — 1. общество, общественный строй; 2. общество, организация, ассоциация
5. produce — производить, вырабатывать
6. production — производство
7. demand — спрос; требование; запрос; потребность
8. demand for smth — спрос на что-л.
9. to be in high / low demand — пользоваться большим / небольшим
спросом
10. goods — товары, изделия
11. service — услуга
12. market — рынок
13. allocate — (smth to / in smth, smb) 1. размещать, распределять (чтол. куда-л., кому-л.); 2. ассигновать (что-л. на что-л., кому-л.)
14. resource(s) — ресурс(ы), средства
15. consumption — потребление
16. through — через; посредством; благодаря
17. price — цена
18. at high / low prices — по высоким / низким ценам; при высоких/ низких ценах
19. price for /of a good — цена товара, цена на товар
20. plan — планировать
21. planning — планирование
22. decision — решение
23. to make a decision — принимать решение
24. rely — (on smb, smth) полагаться (на кого-л. или что-л.)
25. entirely — полностью, всецело
26. government — правительство
27. intervention — вмешательство
28. government intervention — государственное вмешательство
29. level — уровень
30. at a certain level — на определенном уровне
31. restriction — ограничение
32. (the) former — первый (из двух названных)
33. (the) latter — последний (из двух названных); второй
34. regulation — регулирование
35. government regulation — государственное регулирование
36. both — оба, обе; и тот и другой
37. importance — важность, значение
38. to be of importance — быть важным, иметь (большое) значение
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TEXT
Market and Command Economies
Economics is a science that analyzes what, how, and for whom society
produces. The central economic problem is to reconcile the conflict between
people's unlimited demands with society's ability to produce goods and services.
In industrial Western countries markets are to allocate resources. The
market is the process by which production and consumption are coordinated
through prices.
In a command economy, a central planning office makes decisions on
what, how, and for whom to produce. Economy cannot rely entirely on command, but there was extensive planning in many Soviet bloc countries.
A free market economy has no government intervention. Resources are
allocated entirely through markets.
Modern economies in the West are mixed and rely mainly on the market
but with a large dose of government intervention. The optimal level of government intervention remains a problem which is of interest to economists.
The degree of government restrictions differs greatly between countries
that have command economies and countries that have free market economies.
In the former, resources are allocated by central government planning. In the
latter, there is not any government regulation of the consumption, production,
and exchange of goods. Between the two main types lies the mixed economy
where market and government are both of importance.
Assignments
1. Fill in the chart with the following words
Действие
(глагол)
Общее понятие
(существительное)
Лицо, выполняющее это
действие
(существительное)
decision, recommend, regulation, consumer, produce, allocation, decide,
consume, allocate, production, recommendation, consumption, regulate, producer
2. Chose the suitable variant:
1. (A command economy / a free market economy) is a society where the government makes all decisions about production and consumption.
2. (Economics/ Economy) studies how markets and prices allow society to
solve the problems of what, how, and for whom to produce.
3. Every economist sees (the restriction / the importance) of the question of
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what, how, and for whom to produce.
4. Nations have different (consumption / levels) of farm production.
5. When (the price / the importance) of some goods grows, people will try to
use less of them but producers will want to produce more of them.
6. In (mixed/both) countries, Canada and the USA, structural changes in the
agricultural sector of economy have become of interest to economists and
general public in the 80s and 90s of the 20th century.
7. After years of competition between command and market economies, (the
former /the latter) gave way in many countries of the world to (the former/
the latter).
3. Put the following words into the sentences and translate them into Russian.
both, government, restrictions, the former, the latter, economics, through,
to produce, services (2), goods (2), regulations, mixed economy
1. Every group of people must solve three main problems: what … and … to
produce, how … them and for whom to produce them.
2. … is placed among the social sciences.
3. Markets in which there is no … intervention are called free markets.
4. Society allocates resources into production … the piece system.
5. There are no government … and … in a free market economy.
6. … is an economy in which the government and private sector cooperate in
solving economic problems.
7. Government regulations and restrictions must … work in the interest of society.
8. People produce … and … . …are produced in factories or on farms, … - at
schools, hospitals, shops, banks.
4. Translate into Russian paying attention to the words and word combinations from the Active Vocabulary.
1. Economics is the study of how society decides what, how, and for whom to
produce.
2. The central economic problem for society is how to reconcile the conflict
between people's limitless demand for goods and services and the resources
which can be allocated for the production of these goods and services.
3. The market is the process by which individuals' decisions about consumption of goods, firms' decisions about what and how to produce, the workers'
decisions about how much and for whom to work are reconciled by prices.
4. When resources are limited, they are allocated through the political process.
In a country like Sweden with a strong government the level of production of
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social services may be higher than the level of production of goods for individual consumption.
5. The world economy produces mostly for the people living in the industrial
countries.
6. In many countries there was a large dose of central regulation and planning.
7. Even the countries with free market economy still have high levels of government activity in the production of public goods and services and the regulation of markets.
8. All-round planning is not an easy task, and there is not any command economy that relies entirely on planning for all resources allocation decisions.
5. Translate into English.
1. Развитые страны достигают экономического успеха через
специализацию.
2. В годы войны в стране всегда имеет место регулирование экономики
правительством.
3. В экономиках смешанного типа имеются правительственные
ограничения того, что производить и как производить.
4. Каждый менеджер принимает решения, как распределить
ограниченные ресурсы наилучшим образом.
5. Мы не можем положиться на эти данные при планировании
производства на следующий год.
6. При рыночной экономике регулирование производства и потребления
осуществляется через цены.
6. а) Answer the questions to the text Market and Command Economies.
1. What is the central economic problem of a society?
2. What is the market?
3. What is the function of the market in an industrial country?
4. How are decisions made in a command economy?
5. In what way does a free market economy differ from a command economy?
6. To which type do most economies in the West belong?
б) Discuss the following:
1. To which type does the economy of present-day Russia belong?
2. Is the level of government regulation growing or falling in Russian economy now?
7. Retell the text.
8. Read the text without consulting a dictionary. Give title to it. Guess the
meaning of the underlined words. Answer the question after the text.
The free market allows individuals to produce goods and services without
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any government restrictions. The command economy allows little individual
economic freedom since (так как) most decisions are made by the government. Between these two extremes lies the mixed economy.
In a mixed economy the government and private sector co-operate in solving the economic problem. The government controls production through taxation (налогообложение) and orders for goods and services for the army, the
police force, administration and other needs.
In a mixed economy the government may also be a producer of goods. An
example of it is the United Kingdom where there are nationalized industries
such as railways and coal.
9.What is the role of government in a mixed economy?
а) Раскройте скобки и употребите глаголы в соответствующей
форме.
There (to be) various forms of government restrictions and regulations in
economies. For example, Turkey and Norway both (to limit) profits of firms,
the latter also (to control) prices and wages; in Bolivia the tin mines (to nationalize); in China communes (to establish); in Cuba the government (to own)
many industries and firms; and in Britain eight basic industries (to nationalize).
A free market economy (to be) rare in the world.
The level of economy regulation (to be) different in different countries. In
some countries it (to grow) in recent years, in others more freedom (to grant)
to firms and individuals. But the general tendency (to be) to keep government
regulation at quite a high level.
б) Напишите к тексту четыре вопроса: общий, специальный,
альтернативный и разделительный.
Speaking and writing practice.
Write an essay (or prepare a speech) on the type of economy of your
country. Make use of the information and vocabulary of the Unit as well as additional sources.
NOTE: Mind the structure of the essay which should include the title, the
introductory paragraph (the main point, thesis), your original thoughts and ideas on the problem, development of the theses, supported by facts ( the body of
the essay) an the conclusion which is the mirror of the introduction, review
your most important points, suggest some solutions to the problem.
UNIT 3
The scope of economics
Active Vocabulary
1. scope – размах, охват
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2. to be surprised – удивляться, удивиться
3. teach (taught, taught) – учить, обучать
4. stock market – фондовая биржа
5. to deal with smth. – иметь дело с чем-либо
6. to get a feel for smth. – получить представление о чем-либо
7. to explore – изучать, изучить, исследовать
8. microeconomics - микроэкономика
9. macroeconomics - макроэкономика
10. industry - промышленность
11. business – дело, предприятие, фирма
12. firm – фирма, компания
13. to direct a business – руководить предприятием
14. household – семья, семейное владение, домашнее хозяйство, владелец
15. make decisions – принимать решения
16. consume – потреблять, расходовать
17. consumer - потребитель
18. to charge – назначать, запрашивать цену; записывать в долг, на чейлибо счет
19. to buy (bought, bought) - покупать
20. wealthy – богатый, состоятельный
21. output – выпуск, продукция, производство
22. the poor - бедные
23. the rich - богатые
24. national economy – национальная экономика
25. to be the province of – находиться за пределами чего-либо
26. poverty - бедность
27. to construct – строить, сооружать
28. to produce – производить
29. to be of great importance to – иметь большое значение (важность) для
кого-либо, чего-либо
TEXT
Most students taking economics for the first time are surprised by the
breadth of what they study. Some think that economics will teach them about
the stock market and what to do with their money. Others think that economics
deals exclusively with problems like inflation and unemployment. In fact, it
deals with all these subjects. But they are peaces of a much larger puzzle.
The easiest way to get a feel for the breadth and depth of what you will be
studying is to explore briefly the way economics is organized. First of all, here
are two major divisions of economics: microeconomics and macroeconomics.
Microeconomics deals with the functioning of individual industries and
the behavior of individual economic decision-making units1: single business
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firms2 and households. Microeconomics explores the decisions that individual
business and consumers make. The choices of firm about what to produce and
how much to charge and the choices of households about what to buy and how
much of it to buy help to explain why the economy produces the things it does.
Another big question that microeconomics addresses is who get the things that
are produced. Wealthy households get more output than do poor households,
and the forces that determine this distribution of output are the province of microeconomics. Why do we have poverty? Who is poor? Why do some jobs pay
more than others? Why do teachers or plumbers or baseball players get paid
what they do? Think again about all things you consume in day and than think
back to that view out over a big city. Somebody decided to build those factories. Somebody decided to construct those roads, build the housing, produce
the cars, knit the shirts, and smoke the beckon. Why? What is going on in all
those buildings? It is easy to sea that understanding individual micro decisions
is very important to any understanding of your society.
Macroeconomics, in its turn, deals with the functioning of national economic complex and behavior of the main classes and social groups.
_______________________________________________________________
1
. an individual economic decision-making unit – отдельная
самостоятельная экономическая единица (предприятие)
2.
a single business firm – отдельная предпринимательская фирма
Assignments
1. Match the words with their definitions.
1. microeconomics
a) one’s regular work or occupation
2. consumer
b) the branch of economics that studies individual producers, consumers or markets
3. welfare
c) condition of having comfortable living
and working conditions, good health, etc.
4. macroeconomics
d) the branch of economics, that studies economics as a whole
5. employment
e) a person, who uses, buys goods
2. Fill in the blanks with the following words related to the verb “to produce”: product, productive, productivity, production.
1. The company … a new commodity every year.
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2. The company’s newest … is a special blue soap powder.
3. The … of soap powders met last year to discuss prices.
4. The factory is not as … now as it was five years ago.
5. The … of that factory has gone down over the last six years.
6. The manager of the factory has decided that they must increase their … of
packets of soap powder.
3. Translate the sentences, paying attention to the words and word combinations from the Active Vocabulary.
1. Our factory is an undertaking (предприятие) of wide scope.
2. I am surprised at the scope of your thought.
3. We are taught to operate on the stock market.
4. You should learn to deal with business matters.
5. I’m exploring the questions of production and consumption in our region.
6. A manager should get a feel for many economic questions to direct a business successfully.
7. Usually I make decisions about me expenditures (расходы) myself.
8. Whatever the economic system is, there is always the poor and the rich.
9. This issue (вопрос) is the province of my interest.
10. Many people leave on the poverty line.
4. Translate into English.
1. Многие люди, изучающие экономику, удивлены размахом её
интересов.
2. Экономика имеет дело особенно с такими проблемами, как инфляция
и безработица.
3. Вопросом большой важности ля философов является справедливое
распределение.
4. Макроэкономика имеет дело с поведением основных классов и
социальных групп.
5. Микроэкономика имеет дело с функционированием отдельных
отраслей промышленности и отдельных самостоятельных хозяйственных
единиц.
6. Принимаясь за изучение экономики, студенты пытаются получить
представление о ширине и глубине того, что они будут изучать.
7. Почему одни люди бедные, а другие богатые? Как вы можете
объяснить этот социальный феномен?
5. Put questions to the text. Ask the group to answer them.
6. Summarize the text.
7.
Scan the text and give the title to each paragraph.
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1. Many economists specialise in a particular branch of the subject. For
example, there are labour economists, energy economists, monetary economists, and international economists. What distinguishes these economists is the
segment of economic life in which they are interested. Labour economics deals
with problems of the labour market as viewed by firms, workers, and society
as a whole. Urban economics deals with city problems: land use, transport,
congestion and housing. However, we need not classify branches of economics
according to the area of economic life in which we ask the standard questions:
what, how and for whom. We can also classify branches of economics according to the approach or methodology that is used. The very broad division of
approaches into microeconomic and macroeconomic cuts across the large
number of subject groupings cited above.
2. Microeconomic analysis offers a detailed treatment of individual decisions about particular commodities. Microeconomists tend to offer a detailed
treatment of one aspect of economic behaviour, but ignore interactions with
the rest of the economy in order to preserve the simplicity of the analysis. A
microeconomic analysis of miners' wages would emphasise the characteristics
of miners and the ability of mine owners pay. It would largely neglect the
chain of indirect effects to which a rise in miners’ wages might give rise. For
example, car workers might use the precedent the miners' pay increase to secure higher wages in the car industry, thus being able to afford larger houses,
which burned more coal in heating systems. When microeconomic analysis ignores such indirectly induced effects it is said to be partial analysis.
3. Macroeconomics emphasizes the interactions in the economy as a
whole. For example, macroeconomists typically do not worry about the breakdown of consumer goods into cars, bicycles, televisions, and calculators. They
prefer to treat them all as a single bundle called "consumer goods" because
they are more interested in studying the interaction between households' purchases of consumer goods and firms' decisions about purchases of machinery
and buildings.
4.Our interest in microeconomics is motivated by more than our need to
understand how the larger economy works. The "parts" of the economic engine
are people. To the extent that we care about the welfare of individuals in society, we have a fundamental interest in microeconomic behaviour and outcomes.
In this regard, we examine the goals of individual consumers and business
firms, seeking to explain how they can maximise their welfare in the economy.
In microeconomics, for example, we spend more time looking at which goods
are produced, who produces them, and who receives them. In macroeconomics
we tend to focus only on how much is produced or how many people are employed in the process.
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8. Read the text more careful (use dictionary, if necessary) and give answers to the following questions.
1. How are the different branches of economics classified?
2. What does microeconomics do?
3. What do most microeconomists leave out of their analysis?
4. What does macroeconomics do?
5. Why are we interested in microeconomics?
9. Define each of the words given below, using the pronouns who and
which.
 An energy economist is … who…
 Microeconomics is … which…
 International economics is…
 A monetary economist is …
 Consumer goods are …
 Macroeconomics is …
 A worker is …
 A miner is …
 Coal is …
Speaking and writing practice.
Think about different questions economics deals with. Refer them to the
problems either of microeconomics or macroeconomics. Write a paragraph on
it. Use the following helpful phrases:
Topic sentence:
First of all, I’d like to focus on….
Прежде всего, хотелось бы
остановиться на …
The major point is …
Основной вопрос …
Developers:
Let’s go point by point …
Давайте обсудим пункт за пунктом
First comes …
Прежде всего, начнем с …
In view of the above …
Ввиду вышеизложенного …
We can now look at …
Теперь мы можем обсудить…
Restatement:
Now it is obvious that …
Теперь ясно, что …
So, to make a long story short …
Итак, если кратко изложить суть …
Present your summary to the group. Comment on the summary, presented
by the other students.
(not) to be up to the mark
(не) быть на хорошем уровне
To be quite at home in the subject
хорошо владеть предметом
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To be concise and to the point
быть кратким и точным по сути
To have a good (poor) command of the хорошо (неважно) владеть языком
language
All in all, my impression is …
в целом, мое впечатление …
UNIT 4
Demand and Supply
Active Vocabulary
1. quantity — количество; размер; величина
2. buy (bought, bought) — покупать, приобретать
3. buyer — покупатель
4. demand (smth) - требовать (что-л.), нуждаться в (чём-л.)
5. supply — предложение (товара)
excess
supply — избыточное, чрезмерное предложение,
перенасыщенность рынка
6. supply — предлагать; снабжать; поставлять
to supply smb with smth — поставлять что-либо кому-либо
to supply smth to smb — снабжать кого-либо чем-либо
7. sell (sold, sold) — продавать(ся)
8. seller — продавец
9. equilibrium — равновесие, равновесное состояние, положение
равновесия
equilibrium price — равновесная цена
10. producer — производитель, изготовитель
11. consumer — потребитель
12. consume — потреблять
13. shortage — дефицит, нехватка, недостаточность предложения
(товаров)
14. raise — повышать; увеличивать; поднимать
15. surplus — избыток, излишек
16. reduce — понижать; уменьшать; сокращать
17. reduction (in smth) - снижение, уменьшение, сокращение (чего-л.)
18. influence — (smth) оказывать влияние, влиять (на что-л.)
19. influence — влияние, воздействие
20. income — доход(ы), прибыль, поступления
21. increase — (in smth) увеличение, рост, возрастание, прирост (чегол.)
22. increase — увеличивать(ся), повышать(ся); расти; усиливать(ся)
23. substitute good — товар-заменитель (спрос на который изменяется
в противоположном направлении по сравнению со спросом на другой
товар, цена на который изменилась)
24. substitute — (for smth) заменитель (чего-л.)
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25. decrease — (in smth) уменьшение, понижение, снижение (чего-л.)
26. decrease — уменьшать(ся), снижать(ся), убывать
27. complement good — товар-дополнение (спрос на который
изменяется в том же направлении, что и спрос на некоторые другие
товары, цены на которые изменились)
28. normal good — товар стандартного качества
29. inferior good — товар низкого качества
30. rise (rose, risen) — подниматься; увеличиваться; возрастать
31. fall (fell, fallen) — падать; опускаться; понижаться
32. technology — техника, технология
33. input — вложение, вводимый ресурс, затраты, инвестиции
34. input price — цена ресурсов, цена основных средств производства
35. improvement — улучшение, усовершенствование
36. improve — улучшать(ся), усовершенствовать(ся)
37. impose (on, upon) — облагать (налогом, пошлиной кого-л.), налагать
(обязательства, штраф); возлагать (на кого-л.); навязывать (кому-л.)
38. private — частный; личный; собственный
TEXT
Demand is the quantity of a good that buyers wish to buy at each price 1.
Other things equal2, at low prices the demanded quantity is higher.
Supply is the quantity of a good that sellers wish to sell at each price.
Other things equal, when prices are high, the supplied quantity is high as well.
The market is in equilibrium when the price regulates the quantity supplied by producers and the quantity demanded by consumers. When prices are
not so high as the equilibrium price, there is excess demand (shortage) raising
the price. At prices above the equilibrium price, there is excess supply (surplus) reducing the price.
There are some factors influencing demand for a good, such as the prices
of other goods, consumer incomes and some others.
An increase in the price of a substitute good (or a decrease in the price of
a complement good) will at the same time raise the demanded quantity.
As consumer income is increased, demand for a normal good will also increase but demand for an inferior good will decrease. A normal good is a good
for which demand increases when incomes rise. An inferior good is a good for
which demand falls when incomes rise.
As to supply, some factors are assumed 3 as constant. Among them are
technology, the input price, as well as degree of government regulation. An
improvement in technology is as important for increasing the supplied quantity
of a good as a reduction in input prices.
Government regulates demand and supply, imposing ceiling prices (maximum prices) and floor prices (minimum prices) and adding its own demand to
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the demand of the private sector.
1. each price — зд. любая цена
2. other things equal — при прочих равных условиях
3. are assumed — рассматриваются, принимаются
Assignments
1. Arrange the following words into the pairs of verbs and nouns with the
same stem.
e.g.: to fall (падать) – fall (падение)
to fall, consumer, to stabilize, organization, demand, to sell, buyer, influence, to invest, to improve, consumption, fall, improvement, stabilization, to
intervene, to organize, investment, seller, to consume, to buy, to demand, increase, to reduce, reduction, to influence, to increase, intervention
2. Русским существительным, обозначающим изменение качества
или количества, в английском языке часто соответствует
прилагательное в сравнительной степени или причасти II.
Например, «увеличение цен» - higher prices, increased prices;
«улучшение технологии» - better technology, improved technology.
а) Translate the following word combinations in two ways mentioned
above.
1. повышение доходов; 2. уменьшение спроса; 3. увеличение
инвестиций; 4. сокращение рынка; 5. повышение предложения; 6.
улучшение технологий; 7. увеличение ресурсов.
b) Translate into Russian:
1. greater shortage; 2. lower equilibrium price; 3. increased demand;
4. greater influence; 5. decreased input; 6. reduced government intervention; 7.
greater restrictions.
3. Make all possible word-combinations with the words from the right and
the left columns and translate them into Russian:
quantity, to reduce, to rise, to impose, input, to raise, equilibprice
rium, to fall, private, reduction, substitute
to influence
surplus, a seller, technology, input price, a good, a buyer, to
raise, supply
improvement
decrease, surplus, quantity, to sell, technology, a good
to decrease
shortage, technology, input price, seller, quantity, surplus, reduction
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4. Translate into Russian paying attention to the words and wordcombinations from Active Vocabulary.
1. If the price is higher than the equilibrium one, it will be falling till the equilibrium price is reached and there is no more surpluses left. If a good is sold at
a price below the equilibrium one, the price will grow and reach the equilibrium price till there is no more shortage of the good left.
2. Governments buy and produce many goods and services, such as defense,
education, parks, and roads for firms and individuals.
3. Firms producing computers act as buyers in the markets for the services of
computer programmers.
4. Governments, through their control of the quantity of money in the economy, can influence business activity.
5. With a reduction in input prices firms will supply more of a good at each
price.
6. Inflation is a rise in the level of prices as demand is higher than supply because of an increase in the supply of money.
7. When there is a harvest failure, the producers' supply will decrease.
8. Supply restrictions imposed by cartels are as characteristic of industrialized
economies as of developing economies.
9. Private sector in a mixed economy is that part of the economy that is controlled by private firms, not by government or corporations.
10. Excess supply is a situation in which, at a certain price, the quantity of a
good demanded by buyers is less than the quantity supplied by producers.
5. Translate into English:
1. По мере того как цена товара растет, требуемое количество его
уменьшается.
2. Положение в странах с низким доходом улучшилось с 1965 года.
3. Задача максимальной цены состоит в том, чтобы уменьшить цену для
потребителей, а задача минимальной цены заключается в том, чтобы
поднять цену для производителей и поставщиков.
4. Увеличение предложения ведет к повышению равновесного
количества и понижению равновесной цены.
5. Когда цены будут уменьшены до равновесной цены, не будет товарных
излишков.
6. Если цена одного товара падает, а цены других товаров, требуемых
потребителем, остаются теми же самыми, то потребитель будет покупать
более дешевые товары вместо дорогого товара.
6. a) Answer the questions to the text.
1. What is demand?
2. What is supply?
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3. When are the demanded and supplied quantities of goods high?
4. How are prices and the supplied and demanded quantities regulated by the
market?
5. Which factors influence demand? How do they work?
6. Which factors influence supply?
7. How can governments regulate demand and supply?
б) Think and answer:
1. How can prices for other goods influence the demand for a good? Supply
examples.
2. What inferior goods can you name?
3. What may be the result of imposing ceiling prices?
7. Retell the text.
8. Scan the text and entitle it.
A change in demand takes place when one of the factors assumed constant
changes. An increase in income results in a rise of the quantity demanded, provided the
goods are normal.
A change in the price of one good has an income effect and a substitution effect.
The income effect of a price increase is to reduce the quantity demanded of all
normal goods. For inferior goods, the income effect works in the opposite direction. The substitution effect leads consumers to buy less of the goods whose price
has increased.
The substitution effect of a price rise will also reduce the demand for the
goods that are complementary to the goods whose price has risen.
In practice, there are three types of relationships between goods: the
goods may be substitutes, complements, or independent. The definition of the
three types of relationships is based on the substitution effect of the price
change of a good.
(1) The substitution effect is positive for substitute goods, the price of the good
(j) and the quantity of the good (i) move in the same direction. If the price
of j increases, consumers tend to substitute i for j. If the price of j decreases, then consumers tend to substitute the relatively cheaper j for i. In
both cases, there is a positive relationship between the price of j and the quantity of i. An example is butter and margarine.
(2) The substitution effect is negative for complementary goods such as
buns and hot dogs. In this case, the price of hot dogs (j) and the quantity of
buns (i) move in opposite directions. An increase in price of j (hot dogs) means
that the quantity demanded of j decreases and the quantity of the complementary goods i (buns) also decreases. The same happens when the price of j decreases. In both cases there is negative relationship between the price of j and
the quantity of i.
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Notice what if the goods change places in the equation, it may result in a
different coefficient. Let us consider the consumption of sugar and coffee. A
change in the price of coffee may have some influence on the use of sugar, but
the change in the price of sugar probably will have very little influence on the
use of coffee.
(3) The substitution effect is zero for independent goods. Independence
means that no substitution or complementary relationship exists between the
two goods.
9) Arrange the questions according to the context of the text. Answer them.
1. Do all complementary goods affect each other’s use to the same extent?
2. What examples of complementary goods are given in the text?
3. What goods are called independent?
4. How many types of relationship between goods can you name?
5. How does the substitution effect work with supplementary goods?
6. How does the substitution effect work with substitute goods?
Speaking and writing practice
Imagine you are going to make a report on the lesson on microeconomics on the subject “The law of demand and supply”. Write the text of your
report and present it to the group. Use extra sources of information and
name them.
Arrange your report with the phrases:
Let’s start with… (Let’s begin with…)
- Начнем с…
The subject of my report is…
- Темой моего доклада является
The following questions will be considered - Следующие вопросы будут
рассмотрены
in my report…
в моем докладе…
Now, let’s tough upon …
- Коснемся теперь …
Let’s switch over to… (go down to…, proceed to…)- Перейдем к …
It is safe to say that…
- Можно с уверенностью сказать,
что…
That is all as far as this problem is concerned. - Это все, что касается
данной проблемы.
Any questions? (Have you got any questions?)- Есть у вас вопросы?
UNIT 5
The nation’s economy. Economic indicators.
Active Vocabulary
1. whole — целый
2. as a whole - в целом
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3. household — (условная) семья
4. gross domestic product (GDP) - валовой внутренний продукт (ВВП)
(денежная стоимость всех товаров и услуг, произведенных в хозяйстве
за определенный период)
5. gross — валовой; совокупный
6. domestic — внутренний; отечественный; местный
7. final goods — готовые изделия, готовая продукция
8. measure — измерять
9. measure — мера
10. way — образ действия; метод; способ
11. a way of doing smth — способ, которым делается что-л.
12. in some way — каким-то способом
13. property — собственность, имущество
14. abroad — за границей, за границу
15. gross national product (GNP) - валовой национальный продукт (ВНП)
(ВВП плюс проценты, прибыли и дивиденды, полученные из-за рубежа)
16. while — в то время как
17. average — средний
18. standard of living; living standard - жизненный уровень
19. however — однако, тем не менее
20. distribution — распределение
21. assets — фонды; имущество; активы
22. wear out — (wore, worn) изнашиваться
23. depreciation — 1. износ (оборудования), амортизация; 2. снижение
стоимости; обесценивание
24. replace — (smth by / with smth) заменять (что-л. чём-л)
Coal was replaced by oil. — Уголь был заменен нефтепродуктами.
25. exist — существовать, быть
26. spending — расходы
27. since — 1) с, с тех пор как; 2) так как; поскольку
28. determine — определять, устанавливать
29. aggregate demand — совокупный спрос (совокупный спрос на все
товары и услуги в экономике в какое-то определенное время)
30. make up (made, made) — составлять
31. considerable — значительный; большой
32. add (to smth) — добавлять, прибавлять (к чему-л.)
33. tax — налог
34. taxation — налогообложение
35. fiscal policy— налоговая, фискальная, бюджетная политика
(использование государственных расходов для воздействия на экономику
государства в целом)
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TEXT
To have a glimpse in the working of the economy as a whole may be of
use to a student of economics.
In every economy there are lots of households to supply labor and capital
to firms that use them to produce goods and services. Firms provide incomes
for households, who in turn1 use this money to purchase the goods and services
produced by firms. This process is called the circular flow of payments2.
The gross domestic product (GDP) is the total money value of all final
goods produced in the domestic economy over a one-year period. The GDP
can be measured in three ways: (a) the sum of the value added 3 in the production within a year, (b) the sum of incomes received from producing the year's
output, (c) the sum to spend on the year's domestic output of goods and services.
The total money value of all final goods and services in an economy over
a one-year period, that is the GDP, plus property income from abroad (interest,
rent, dividends and profits) make the gross national product (GNP). The GNP
is an important measure of a country's economic well-being, while the GNP
per head provides a measure of the average standard of living of the country's
people. However, this is only an average measure of what people get. The
goods and services available to particular individuals depend on the income
distribution within the economy.
We now recognize that assets wear out in the production process either
physically or become obsolete. This process is known as depreciation. There
has to be part of the economy's gross output to replace existing capital, and this
part of gross output is not available for consumption, investment, government
spending, or exports. So we subtract depreciation from the GNP to arrive at national income.
National income measures the amount of money the economy has available for spending on goods and services after setting aside enough money to replace resources used up in the production process.
Since output is determined by demand, the aggregate demand or spending
plans of households and firms determine the level of the output produced,
which in turn makes up the income available to households. Aggregate demand is the amount to be spent by firms and households on goods and services.
Governments also step in the circular flow of income and payments. They
buy a considerable part of the total output of goods and services in an economy
adding their demand to the demand of the private sector. Since government
spending is a large component of aggregate demand, and since taxes affect the
amount households and companies have for spending, government spending
and taxation decisions, which are referred to as4 fiscal policy, have major effects on aggregate demand and output.
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_______________________________________________________________
1. in turn — в свою очередь
2. circular flow of payments — кругооборот платежей; circular flow of income - кругооборот дохода. Оба выражения используются параллельно
для обозначения процесса движения денег и товаров между отдельными
субъектами экономики (юридическими и физическими лицами)
3. value added - добавленная стоимость; часть стоимости произведенной
продукции, которая была внесена данным предприятием. Она
определяется как разница между стоимостью продаж и себестоимостью
материалов, энергии и т.п. и включает заработную плату, издержки на
реализацию и некоторые другие расходы. Суммарная добавленная
стоимость всей экономики равна ВВП.
4. are referred to as — называются
Assignments
1. Find English equivalents for the following Russian ones.
амортизация фондов, обложение собственности налогом, экономика
в целом, отечественное производство, существующие фонды, средняя
заработная плата, средняя семья, крупная собственность, собственность
за рубежом
existing assets, fiscal policy, to replace assets, taxation of assets abroad,
property taxation, depreciation measure, depreciation of assets, circular flow of
payments, average household, household spending, taxes imposed on households, home production, property abroad, economy as a whole, average wage,
domestic production rather than production abroad, household property, domestic production, considerable property
2. Choose the right variant.
1. The (measure / way) in which the European Union's statistical system is
adapting to requirements of the 21st century is of importance both inside and
outside the European Union.
2. The marginal product of labor is how much each extra worker (adds to /
makes up) total output.
3. In a dynamic political society old statistic systems have to be (replaced/ determined) by new ones.
4. If a person can do what he wishes with his own (property / output), time,
and energy, then economists say that he is economically free.
5. The price of a good in a market is (determined / measured) by the law of
demand and supply.
6. (Gross / aggregate) demand is the total amount of (spending/ depreciation)
on (final/ domestic) goods and services.
7. You and your family have an annual (годовой) income which allows you to
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consume various goods and services, live in a particular neighborhood (район)
and maintain a certain (standard of living/fiscal policy).
3. Match the two parts together to make a sentence.
1. Taxes have a great effect on the a. their international image are of
way
prime importance.
2. Economists consider the value of b. someone else's income.
total output of the public sector as c. to provide conditions under which
well as the private sector
nationalized industries could not be
3. The GDP is the basic measure
run directly by ministers, but through
4. In most countries higher living boards of directors with a considerable
standards of the typical man rather measure of managerial independence.
than
d. society allocates its scarce re5. Import is a good which is pro- sources.
duced abroad
e. which earns rent, dividends, interest.
6. One person's spending must be
f. to make up the gross national prod7. Individual incomes come either uct.
from working or from property
g. and which is then transported to and
8. When industries were first na- sold in the home market.
tionalized in Britain, many of them h. of the total output of goods and serafter the Second World War, the vices in the economy
governments' aim was
4. Translate the sentences into the Russian.
1. The aggregate price level is a measure of the average level of prices of
goods and services in the economy, relative to their prices at some particular
date in the past.
2. The amount of information to be used in measuring the GNP is enormous,
and there are always errors in collecting and adding up numbers. So, aggregate
data - the data that represent the whole economy - can never be fully accurate
and complete.
3. Material goods and services make up only a part of a person's welfare. Besides, there should be available such costless rights as freedom of speech and
others.
4. In the 1980s British workers in the gas and electricity industries earned £20
a week more than the national average wage and earned considerably more
than workers in the textile industry.
5. The primary sector together with the industrial sector and the service sector
form a chain of economic activities which make up a whole economy.
6. They believe there are considerable advantages to be obtained from increasing the size of the enterprise.
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7. Due to taxes, part of the income of households to be spent on consumer
goods and services is reduced.
5. Translate into the English.
1. Совокупное предложение зависит от рынков товаров и труда.
2. Следует знать средний темп увеличения зарплаты в год.
3. После покупки предприятия в прошлом месяце новый владелец не стал
заменять всю управленческую команду немедленно.
4. Увеличение государственных расходов и заимствований (borrowing)
оказывает некоторое воздействие на процентные ставки (interest rates),
которые будут предложены банками.
5. Модель круговорота дохода показывает, как, в денежном выражении,
семьи покупают товары и услуги у фирм, используя доход, полученный
от поставки фирмам факторов производства.
6. Средние прямые правительственные выплаты американским фирмам в
субсидируемых отраслях колеблются в зависимости от размера фирмы.
7. Хотя власти США наложили некоторые ограничения на импорт зерна
из Европейского Сообщества, нет никаких доказательств, что это в
значительной степени сократило экспорт из ЕЭС.
6.
1.
2.
3.
4.
5.
6.
7.
8.
Answer the questions to the text:
What process is known as the circular flow of payments?
What is the gross domestic product?
What is the gross national product?
What does the GNP indicate?
How is national income determined?
What is aggregate demand?
How do government activities affect the aggregate demand?
What is fiscal policy?
7. Summarize the text.
8. Scan the text and answer the questions: In what countries is there large
difference between GDP and GNP? Why?
Does one characterize a country in economics by the location of economic activity of its population or by the location of its population wherever (где
бы ни) such activity may take place? The GNP follows the second method.
For example, if a French company owns a factory in Germany, it contributes to
the French GNP.
While the GNP depends on who owns property, the GDP depends on location. It is produced by all factors of production within the country, both domestic and foreign owned.
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To draw a line between GNP and GDP is not an easy matter as the difference between them is small but there exist interesting exceptions. Switzerland
earns a considerable share of its income abroad, which is due to the large number of Swiss-owned multinational companies.
Its GNP has been reported to be more than its GDP by 5 percent.
It is known tat Pakistan, too, has a GNP bigger than its GDP since its
large population living abroad regularly transfers labor income to the home
country.
Most interesting is Kuwait which has used its oil income over the years to
acquire (приобретать) property abroad. As a result of its high investment income, its GNP is known to be bigger than it GDP by 35 percent.
Speaking and writing practice.
Chose one of the questions below and write a paragraph developing your
own ideas on this question.
1. Can the average standard of living reflect the actual way in which people of
all social groups live?
2. How can government spending stimulate the development of a particular industry?
Present your essay to the group, comment on the other presented essays.
(See NOTE to the Unit 3).
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СПИСОК ИСПОЛЬЗОВАННОЙ ЛИТЕРАТУРЫ
1. Драчинская И. Ф., Дубинина Г. А. Учебное пособие по английскому языку для
студентов первого курса - М.: Финансовая академия, 2001.
2. Глушенкова Е. В. Английский язык для студентов экономических специальностей. –
М.: ООО «Издательство Астрель», 2003.
3. Шевелева С. А. English on Economics. – М.: Издательскте объединение «ЮНИТ», 2004.
4. Англо-русский экономический словарь, под ред. И. Ф. Ждановой, Э. Л. Вартумян. Изд.
3-е. М.,2000.
СОДЕРЖАНИЕ
Предисловие…………………..
Unit 1…………………………...
Unit 2 …………………………..
Unit 3…………………………...
Unit 4…………………………...
Unit 5…………………………...
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3
4
8
13
19
24