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3.  Find out the words below in the text and detect what word is odd in each of the following sets:

1. production – diverse – consumption – distribution

2. increase – inflation – fluctuations – growth

3. short-run – investment – savings – income

4. avoid – assist in – throughout – include

4.  Work with you partner, compile your own sentences with some of the following words and expressions and then read them to your partner to translate:

goods and services; suggest; avoid; consistent with; include; market; aggregated indicator; gross domestic product; price indices; international trade; economic growth; business cycle; diverse; assist in; evaluation; increase; short-run; field of study; research

5.  Make up statements matching phrases from column a with phrases from column b. Then translate the acquired sentences:

Column A

Column B

1. Macroeconomists develop models that explain the relationship between such factors as

2. Economics studies how individuals and societies

3. Macroeconomists study aggregated indicators such as

4. Economics is a social science seeking to analyze and describe

5. Microeconomics examines the behaviour of basic elements in the economy,

a. GDP, unemployment rates, and price indices to understand how the whole economy functions.

b. the production, distribution, and consumption of goods and services.

c. seek to satisfy needs and wants.

d. including individual agents (such as households and firms or as buyers and sellers) and markets, and their interactions.

e. national income, output, consumption, unemployment, inflation, savings, investment, international trade and international finance.

6.  Analyze the forms of verb “to be” in the table below and:

Present Simple

Past Simple

Future Simple

Affirmative

I am

I was

I will be

he

she is

it

he

she was

it

he

she will be

it

we

you are

they

we

you were

they

we

you will be

they

Negative

I am not

I was not

I will not be

he

she is not

it

he

she was not

it

he

she will not be

it

we

you are not

they

we

you were not

they

we

you will not be

they

Interrogative

Am I ?

Was I ?

Will I be ?

he

Is she ?

it

he

Was she ?

it

he

Will she be ?

it

we

Are you ?

they

we

Were you ?

they

we

Will you be ?

they

a) transform the following sentences into Past Simple and Future Simple changing, if necessary, modifiers:

1. Is this forecast true? 2. I am an economist. 3. Prices are low in this country. 4. She is not at home now. 5. Are you hungry? 6. Economics is the social science. 7. Sue is very busy this week. 8. All our savings are in that bank. 9. All the students are at University. 10. There are two areas of research.

b) make general questions according to the model:

Economics is an old science. – Is Economics an old science?

1. There are a variety of modern definitions of economics. 2. This model is a new. 3. We were not late for our classes yesterday. 4. A consumer will be pleased a lot. 5. Price indices are quite important for the international market. 6. Our input was increasing. 7. National income is a major indicator of a country economy health. 8. Business cycle of this firm will be short. 9. It is the finest University in a region. 10. Your investments were timely.

с) open the brackets and write the correct form of the verb:

1. I (be) home in-time. 2. Bread and butter (not/be) his usual breakfast last year. 3. In two weeks this boy (be) 6 years old. 4. The number of books to read for the exams (be) considerable. 5. A few students (be) present at the conference next month. 6. The great majority of writers, painters, and architects (be) talented people. 7. The number of young people entering higher institutions (not/be) great three years ago. 8. When your mother (be) at home? – She (be) at home in a week. 9. A lot of books (be) in bad condition because the building of the library needs repairing.10. How old (be) Jason when he went to school? 11. My aim (be) to make English grammar clear to everyone. 12. We (be) pupils last year, but now we (be) students. 13. I (not/be) in Khabarovsk now. I (be) in Vladivostok. 14. I think he (not/be) a doctor in some years. 15. My pens (not/be) on the desk. Where (be) they? 16. All my friends (be) at home tomorrow. 17. (be) she at work tomorrow? – Yes, she (be). 18. Where (be) your friend mow? – She (be) in her room. 19. Tom (be) ill yesterday. 20. ‘"The Coliseum"’ (be) a poem by Edgar Allan Poe.

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