Economics

There are different definitions of «economics» in the world today. The most popular concepts define economics as a social science which deals with production, distribution, exchange, and consumption of different goods and services. Economists study how individuals, groups, enterprises, and governments try to achieve efficiently any economic objective they select. Other sciences can help to understand economics better. Psychology and ethics try to explain the formation of objectives. History records changes in human objectives. Sociology interprets human behavior in social contexts.

Economics operates on two levels: the macrolevel and the microlevel. Microeconomics is the study of individual consumers and business companies. It examines how the interplay of supply and demand in a competitive market creates individual prices, wage rates, etc.

Macroeconomics is the study of the economy as a whole. It examines such questions as the fast development of the economy, the volume of an overall output, and total income, the increase of employment. Macroeconomics dates from the book, The General Theory of Employment, Interest, and Money (1935), by the British economist John Maynard Keynes.

In practice many economic decisions can not be made solely by an objective appraisal of the facts but depend to some extend on personal views in interpreting facts.

The economist tries to be as objective as possible establishing principles which show how the economy works and can be used to predict the likely results of policies.

Answer the questions:

1) What is economics?

2) How do the most popular concepts define economics?

3) What do psychology and ethics try to explain?

4) What does sociology interpret in social contexts?

5) How many levels are there in economics?

6) What does microeconomics examine?

7) What is the main task of the first level?

8) What problems does the second level study?

9) Who is the author of the book «The General Theory of Employment, Interest, and Money»?

Задание 2. Перепишите следующие предложения, определяя в них видовременные формы глаголов, и укажите их инфинитив. Предложения переведите на русский язык.

1. Economists note that there is no limit to the amount or kinds of things that people want.

2. My aunt bought a ticket yesterday.

3. The firm has very little money to pay this debt.

4. I was talking on the phone when she came in.

5. The student will take this exam next term.

Задание 3. Перепишите следующие предложения, содержащие разные формы сравнения. Предложения переведите на русский язык.

1. Many people regard financial security as the most important thing in family finances.

2. The more competitors the company has, the greater the chance that customers will turn elsewhere if the firm raises its prices.

3. The City is one of the largest financial centers in the world.

Задание 4. Перепишите и письменно переведите на русский язык предложения, обращая внимание на перевод неопределенных и отрицательных местоимений.

1. He didn’t see any use in taking a loan.

2. Some species of fish that had gradually disappeared from the Thames since 1800 have returned.

3. Any student can get a part-time job, especially in summer.

Задание 5. Перепишите слова, определите по суффиксу часть речи:

а) существительное;

б) прилагательное;

в) наречие

и переведите слова на русский язык.

1.national; 2. prosperity; 3. fiscal; 4. vocational; 5. counsellors; 6. features; 7. particularly; 8. taxation; 9.shareholders; 10. necessary.

ВАРИАНТ 5

Задание 1. Прочитайте текст и переведите его письменно. Ответьте на вопросы после текста письменно. Выучите слова (Active vocabulary).

Active vocabulary: