Vocabulary

economics favors - экономическая польза

current average - текущее среднее число

private industry - частная промышленность

limited resources - ограниченные ресурсы

exchange rates - обменные ставки

business trends - деловые тенденции

taxation - налогообложение

employment rates - нормы занятости

inflation - инфляция

random - случайный

customer demand - требование клиента

product sales - продажи продукта

customer - клиент

to maximize profit - максимизировать прибыль

percentage - процент

industry growth - рост промышленности

safety issues - проблемы безопасности

allotment - распределение

domestic - внутренний

employees - служащие

economic data - экономические данные

to forecast the consequences

of new legislation - предсказывать последствия

нового законодательства

tax increases - рост налогов

cuts сокращения

I. Discuss in groups what jobs are:

1.more prestigious;

2.more well-paid;

3.more difficult;

4.require more responsibility;

5.require graduate degree;

6.require connections;

7.require work experience;

8.require excellent mathematical skill;

9.require working long hours;

10.require working full day.

II Write a short essay: "What type of economist I want to be". Use words and phrases from the text.

Unit 5

Make a project about customs, traditions, political situation and economics of the Russian Federation; of the United Kingdom of Great Britain and Northern Ireland; of the United States of America

I. The Russian Federation.

A) Find out information about Russia; its political situation, customs and traditions. (What aspects of Russian geography, history, culture, science and arts do you know?)

B) Answer the following questions.

1.What parts of the world does Russia stretch into?

2.How does it rank in the world in population?

3.Who is the Head of State in Russia?

4.What term is the Russian President elected for?

5.What are the two chambers of the Russian Parliament?

6.How many federal districts are there in Russia?

7.How densely is Russia populated?

8.How many different ethnic groups live in. Russia?

C) Find out information about Russian Economy

Answer the following questions:

1.What are the characteristics of the economy of the Soviet Union?

2.How was the economic policy made in the Soviet Union?

3.How does Russia undertake the transition to capitalism?

4.What are the aspcets of Russian economy?

5.How does Russian economy perform since the year 2000?

6.What is the role of consumers in the economic rebound?

7.Why is Russian economy vulnerable to swings in oil prices?

8.What are the problems of Russian economy?

D) Find definitions to the following economic terms:

a)planned economy;

b)infrastructure;

c)national debt;

d)currency reserve;

e)exports;

f)business climate.

E)Write a short essay about

a)major problems of Russian economy;

b)economic crisis in 1998;

c)growing currency reserves;

d)economic growth and oil prices;

e)old infrastructure;