МИНИСТЕРСТВО СЕЛЬСКОГО ХОЗЯЙСТВА РОССИЙСКОЙ ФЕДЕРАЦИИ

ФЕДЕРАЛЬНОЕ ГОСУДАРСТВЕННОЕ БЮДЖЕТНОЕ ОБРАЗОВАТЕЛЬНОЕ УЧРЕЖДЕНИЕ ВЫСШЕГО ПРОФЕССИОНАЛЬНОГО ОБРАЗОВАНИЯ «БАШКИРСКИЙ ГОСУДАРСТВЕННЫЙ АГРАРНЫЙ УНИВЕРСИТЕТ»

Кафедра иностранных языков

Б1.Б.3. Иностранный язык (английский) Сборник текстов для чтения

в межсессионный период бакалаврами заочного обучения

по направлению подготовки 080100 Экономика

Уфа 2011

УДК 811.111

ББК 81.2 Англ.

С 23

Рекомендовано к изданию методической комиссией экономического факультета, прото­кол №4 от 22 ноября 2011 г.

Составители: старший преподаватель кафедры иностранных языков Р.А. Исмагзамова

Рецензент: к.филол.н., доцент кафедры иностранных языков З.Р. Загирова

Ответственный за выпуск: зав. кафедрой английского языка к.ф.н., доцент О.Н.Новикова

Contents

1	What is Economics
2	What Economics Studies
3	Economic Systems
4	The Traditional Economy
5	The Market Economy
6	The Planned Economy
7	The Mixed Economy
8	The Role of the Production of Material Values
9	David Ricardo and the Theory of Comparative Analysis
10	Adam Smith and Development of Economic Thought
11	Money
12	Banks
13	The Stock Exchange
14	Unemployment
15	Inflation
16	Types of Business Firms
17	The Functional Organization of the Company
18	Set-up of British Companies
19	Retailing
20	Wholesaling
21	Poverty
22	Less Developed Countries
23	Factors of Production
24	British Economy
25	US Economy

1 What is Economics

Unlike history, mathematics, English and chemistry, economics is a subject that most students study only briefly, sometimes they do not study it at all, before they begin to study at a college or university.

Economics has some similarities to mathematics because logical reasoning and mathematical tools are used in it extensively. It also has some similarities to history because economics studies people as they interact in social groups.

Like chemistry, economics uses scientific methods, although some of economics has a descriptive rather than an analytical character. Finally, like English grammar, economics has a few simple rules and principles, but from these principles economics can derive many conclusions.

Economics is a science of making choices. Individuals must decide whether to study or to work, what to choose as an occupation, and many other choices. As a group, people must also choose through their governments whether to invest money to business or to expand national parks, to build a dam or to repair highways with their taxes. The common element in all these decisions is that every choice involves costs.

In fact, economics is the study of the choice that people make and the actions that they take in order to make the best use of scarce resources in meeting their wants.

Economics is about the everyday life. How do we get our living? Why do we sometimes get more and sometimes less? Are we producing as efficiently as we could? Are we producing the “right things”? What are the “right things”? Who ought to decide this and why? The study of economics helps us to answer this sort of questions.

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