Unit 3 areas of economics Active vocabulary

unit – единица, блок

either or – либо…либо, или…или

distribution - распределение

to distribute – распределять

income – доход, прибыль

to consider – рассматривать, полагать, считать

both…and – и…и, как…так и

supplier – поставщик

to supply – поставлять

force – сила

employment – работа, занятость

to employ – нанимать

unemployment – безработица

to require – нуждаться, требовать

achievement – достижение

to achieve – достигать

proper – правильный

government – правительство

living standard – жизненный уровень

Text Areas of Economics

There are three main approaches to economics: microeconomics, macroeconomics, and development economics.

Microeconomics focuses on individual economic units. The economic behavior of either individual consumers or firms or industries is studied by microeconomics. The distribution of products and income among all these units is also analyzed by microeconomics. In this field of economics individuals are considered both as suppliers of labour and as consumers of goods. Firms are also studied both as suppliers of products and as consumers of labour and capital.

There was a long period in the 19^th and early in the 20^th centuries when microeconomic questions dominated in economics. In the20th century economists’ interests in forces that affect income, employment and prices grew. They considered economy in all its relationships.

The term “macroeconomics” was first used in the 1930s. The world depression that began in 1929 required the study of such macroeconomic questions as achievement of full employment and economic growth by means of proper government policies. This area of economics was developed by the British economist John Keynes.

The third main field of economics, that is, development economics, studies the factors of economic growth and how these factors are used by governments in order to achieve high living standards.

Ответьте на вопросы к тексту.

1. What does microeconomics study?

2. Whose economic behaviour is studied by microeconomics?

3. How are individuals considered by microeconomics?

4. When did microeconomics dominate in economics?

5. When did economists’ interest in macroeconomics grow?

6. How is economy considered in macroeconomics?

7. What stimulated the development of macroeconomics?

8. What problems were analyzed in the1930s?

9. What is studied by development economics?

Вставьте слова из активного словаря.

1. Goods and services … by government decisions in the Soviet Union.

2. Agricultural products are … bought by consumers … processed into other goods.

3. Not many workers … in the depression years.

4. There is no … agricultural policy in Russia now.

5. Many factors affect the … of income in an economy.

6. The government … a proper policy to achieve high living standards.

7. We know they have great … in their work.

8. People use their … to buy food, clothes, and other things.

9. The … are very high in some European countries.

Употребите глагол в утвердительной или отрицательной форме.

1. The term “macroeconomics” (to use) in the 19^th century.

2. The British economist J.M. Keynes (to develop) microeconomics. He (to write) a book on macroeconomic problems in 1935.

3. Macroeconomics (to consider) economy in all its relationships.

4. Microeconomics (to analyze) distribution of products and income among consumers and firms.

5. There (to be) an economic depression early in the 1930s. It (to require) the development of economic theory.

6. Development economics (to be) one of the three main approaches to economics.

7. High living standards (to achieve) by means of proper government policies.

8. Foreign firms (to dominate) tobacco industry in Russia in the1990s.

9. Russia’s economy (to grow) fast in the 1990s.

10. Prices for fuel and energy (to grow) in this country now.

11. Resources (to use) in order to produce goods and services.

Составьте предложения из следующих слов.

1. approach, in, 19^th, the, was, the, microeconomics, century, economics, to, main.

2. economic, are, microeconomics, individual, by, considered, units.

3. both, economics, macroeconomics, and, includes, microeconomics.

4. by means of, future, possible, is, to, situations, economic, economic, it, predict, analysis.

5. prices, affected, resources, of, by, of, goods, and, are, prices, labour.

UNIT 4

DEVELOPMENT ECONOMICS

Active vocabulary

variety - разнообразие

advanced – передовой , развитой

to reach a success – достигать успеха

light manufacturing industry – легкая промышленность

recently - недавно

foodstuffs – пищевой продукт

to distinguish from – отличать от, выделять из

average - средний

per capita – на душу населения

labour productivity – производительность труда

fast, rapid - быстрый

Text

Development Economics

Development economics is an important branch of economics which considers specific problems of Third World countries. These countries are given a variety of different names such as “undeveloped countries”, “less developed countries” (LDCs), and “developing countries” (DCs). All these terms contrast third world countries with first world countries which are called “developed” or “industrialized”. Economies of Western Europe, North America, and Japan belong to this type.

The growth of Third World countries was especially great in the 1950s and 1960s. Most of these countries were a part of the colonial system and were controlled by Western Europe. Many countries got political independence after World War II, but they have not become independent economically yet. For example, India has been an independent country since 1945.

The most advanced Asian and South American countries are sometimes called “newly industrialized countries” (NICs). Hong Kong, Taiwan, Singapore, South Korea have reached a great success in the development of their light manufacturing industries recently. They have already greatly increased the exports of such goods as shoes, clothes, and electronics all over the world. Brazil and Mexico have also increased their share in the world market mainly by means of foodstuff exports.

It is important to understand that Third World countries are not uniform. Each country has its economic problems, and it is necessary for each country to develop its own policy in order to make progress.

However, developing countries are distinguished from developed nations by the following common characteristics: lower average income per capita, low labour productivity, low level of education, high mortality rate, fast population growth, low living standards, etc. Some developing countries have all of these characteristics, others have only some of them.

Ответьте на вопросы к тексту.

1. What problems does development economics study?

2. How are Third World countries named?

3. What countries are known as “developed countries”?

4. When was the fastest growth of Third World countries?

5. Are developing countries independent politically or economically?

6. What countries belong to “newly industrialized countries”?

7. Are all developing countries uniform in their development?

8. What are the common characteristics of all developing countries?

Составьте предложения, обращая внимание на место наречия в предложении.

1. the company, exported, to European countries, before, its, never, has, goods.

2. such a high level, the NICs, as now, reached, in trade, never, have.

3. their goods, to Africa, yet, exported, they, have?

4. have, new machines, we, the productivity, already, increased, of.

5. reached, most African countries, the living standards, have not, yet, of developed countries.

6. the European Union, Lithuania, a member of, recently, has become.

Вставьте слова в нужной форме: advanced, variety, dependence, to reach, to increase, uniform, foodstuffs, since, recently/lately, to distinguish, independence, average, per, population, labour productivity.

1. Brazil has recently increased the exports of …, one of which is coffee.

2. As the education of … is not very good in developing countries, the … is low.

3. There is a wide … of problems which Third World countries have in their economies, but economic … is common for most of them.

4. This factory uses the most … technologies in processing agricultural products into foodstuffs.

5. He has been interested in the problems of development economics … he started work there.

6. Less developed countries are … from each other by means of analysis of their … income … capita.

7. Developing countries got political … more than 50 years ago, but they have not … a high level of living standards of developed countries.

8. Newly industrialized countries have … the productivity of light manufacturing industry … .

9. The development of different areas of the country is not … . Some areas are more developed, others are less developed.

Раскрыв скобки, употребите глагол в форме простого прошедшего (Past Simple) или настоящего совершенного времени (Present Perfect).

1.-You ever (to be) to China?

-Yes, we (to visit) it last month.

2. I (not to finish) my report about exports of foodstuffs to developed countries yet, but I (to find) already the necessary data in the Internet.

3. In the1960s, Mexico (to make) great progress in the development of its light manufacturing industry.

4. We (to see) just a documentary film on TV about Brazil which (to make) by the BBC a year ago.

5. Some African countries (not to solve) the problem of education for all population yet, but they (to reach) a success in some industries recently.

6. The world population (to increase) in recent years because African and Asian population (to grow) very fast.

7. The economic growth in China (to be) the highest lately.

8. The prices for the goods of the company never (to be) so high before.

9. We (to see) the latest figures about the income per capita in the country, they (to publish) in a newspaper yesterday.

10. Since India (to become) an English colony, English (to be) an official language in the country and most Indians (to speak) it for many years.