Профессия – менеджер. Учебно-методическое пособие
.pdfstudents will not merely be able to comprehend the extend and significance of what is already known within their own field, but will be receptive to what is new, eager to explore it, show the ability to cope with it and above all – be able to work confidently on their own. By entering a university a student has undertaken to accept a rigorous intellectual discipline and to be more than a passive receptacle for information, much of which in many subjects may be out of date within many years. To the limit of his capacity he is trained to collect evidence for himself and form a balanced judgement about it and he fortifies his ability to think for himself. All these we call good teaching at the university.
Many students mistakenly think that study is simply the memorizing of subject matter and its reproduction in the examination papers. But study involves a great deal more than that. It involves methods of thinking, of experiment and appreciation. The understanding of theories, the solution of problems analysis and criticism of lectures, books and articles, the making of summaries and extracts, the writing of essays, reports and theses.
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UNIT III
ECONOMIC MANAGEMENT (TEXTS FOR READING) Chapter I. What is Economics?
I.Remember the words on the topic:
applied economics – прикладная экономика
a labour economist – специалист по экономике труда
an energy economist – специалист по экономике (электро) энергии a monetary economist – специалист по монетарной экономике
an international economist – специалист по мировой экономике cut across – не соответствовать
an equitable distribution of income – справедливое распределение дохода a detailed treatment – детальный, подробный анализ
an individual household – отдельное домашнее хозяйство in the aggregate – в совокупности
relative output – относительный объем производства general equilibrium theory – теория общего равновесия derivation of principles – выведение принципов complete pattern – полная структура, система, схема
devise judicious simplifications – выработать разумные упрощения reconcile the conflict – разрешить конфликт
keep the analysis manageable – позволять проводить анализ
satisfy materials wants – удовлетворять материальные потребности distort reality – искажать реальность
productivity of labour –производительность труда generalize upon facts – обобщать факты
secure higher wages – получить более высокую заработную плату indirectly induced effects – воздействие, вызванное косвенными причинами
partial analysis – частичный (неполный) анализ simplify deliberately – намеренно упрощать
retain a manageable analysis – сохранить возможность анализа (выполнимый, поддающийся выполнению анализ)
the breakdown of consumer goods – классификация (подразделение) товаров потребления
a single bundle – отдельная единица, величина (доел. набор) extreme luxury – чрезвычайная роскошь
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II. Give Russian equivalents: consumption –
stable price level – exchange – simplification –
employment opportunity – direct market intervention – unemployment benefits – indirect effect –
partial analysis –
III. Give English equivalents:
Высокий уровень жизни – Контролировать нежелательные процессы – Экономические единицы или институты – Экономические цели – Потребление товаров и услуг – Полная занятость – Средства производства –
Общий объем производства – Промышленные средства – Материальные ресурсы – Подробный анализ – Собирать в одно целое –
Взаимодействие внутри экономики –
IV. Read the following text:
TEXT A
Economics is the study of the behavior of human beings in producing, distributing and consuming material goods and services. Resources are limited, and every society wants to figure out how to allocate its resources for maximum benefit. The field of economics serves in large part to help answer this resource allocation question. Economics is concerned with the efficient use of scarce resources in the production of goods and services to satisfy material wants and the economy means a system for the management, use and control of the money, goods and other resources of a country, community or household.
Microeconomics and Macroeconomics
Many economists specialize in a particular branch of the subject. For example, there are labour economists, energy economists, monetary econo-
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mists, and international economists. What distinguishes these economists is the segment of economic life in which they are interested. Labour economics deals with problems of the labour market as viewed by firms, workers, and society as a whole. Urban economics deals with city problems: land use, transport, congestion, and housing. However, we need not classify branches of economics according to the area of economic life in which we ask the standard questions what, how and for whom. We can also classify branches of economics according to the approach or methodology that is used. The very broad division is between microeconomics and macroeconomics.
Microeconomics is the branch of economics that is concerned with the details of a ―big picture‖. In microeconomics we focus on the individuals, firms, and government agencies that actually comprise the larger economy. Microeconomics also studies how government activities such as regulations and taxes affect individual markets. Besides microeconomics tries to understand what factors affect the prices, wages earnings. The field of microeconomics is concerned with things like:
-consumer decision making and utility maximization;
-effects of government regulation on individual markets;
-firm production and profit maximization;
-individual market equilibrium;
-externalities and other market side effects.
Macroeconomics is the branch of economics that focuses on the beha-
vior of an entire economy – the ―big picture‖, on aggregate production and consumption in an economy. The aim of macroeconomics is to understand and improve the performance of the economy as a whole. Some topics that macroeconomists study are:
-the effects of general taxes such as income and sales taxes on output and prices;
-the causes of economic upswings and downturns;
-the effects of monetary and fiscal policy on economic health;
-how interest rates are determined;
-why some economies grow faster than others.
The Relationship between Microeconomics and Macroeconomics
There is an obvious relationship between microeconomics and macroeconomics in that aggregate production and consumption levels are the result of choices made by individual households and firms, and some macroeconomic models explicitly make this connection.
Most of the economic topics covered on television and in newspapers are of the macroeconomic variety, but it‘s important to remember that economics is about more than just trying to figure out when the economy is going to improve and what the Fed is doing with interest rates.
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V. Answer the questions:
1.What distinguishes an energy economist from an urban economist?
2.Are the same questions asked in each area of economic life?
3.What happens when an analysis becomes too complicated?
4.What can keep an analysis manageable?
5.What do most microeconomists leave out of their analysis?
6.What does partial analysis ignore?
7.Why wouldn't most macroeconomists make a breakdown of consumer goods?
VI. Translate into English:
1.Макроэкономика – это один из основных разделов экономической теории, который изучает поведение экономики как единого целого. Она анализирует взаимодействие факторов, влияющих на рост национального производства, а также такие процессы, как безработица, инфляция, и т п. Объектом макроэкономики является именно взаимодействие этих величин внутри экономики, при этом сами эти величины рассматриваются упрощенно, абстрактно.
2.Микроэкономика – это один из основных разделов экономической теории, изучающий поведение отдельных экономических единиц, их взаимодействие на рынках, в результате которого формируются цены на производимые товары и услуга и т. д. Микроэкономика стремится к детальному рассмотрению поведения какой-либо экономической единицы, при этом не уделяя достаточного внимания косвенному воздействию этого поведения на другие экономические единицы и на экономику в целом.
VII. Text for additional reading:
TEXT B. From the History of Russian Economy
More than a decade after the collapse of the Soviet Union in 1991, Russia is now trying to further develop a market economy and achieve more consistent economic growth. Russia saw its comparatively developed centrally planned economy contract severely for five years, as the executive and the legislature dithered over the implementation of reforms and Russia's aging industrial base faced a serious decline.
After the breakup of the USSR, Russia's first slight recovery, showing signs of open-market influence, occurred in 1997. That year, however, the Asian financial crisis culminated in the August depreciation of the ruble. This was followed by a debt default by the government in 1998, and a sharp deterioration in living standards for most of the population. Consequently, 1998 was marked by recession and an intense capital flight.
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Nevertheless, the economy started recovering in 1999. The recovery was greatly assisted by the weak ruble, which made imports expensive and boosted local production. Then it entered a phase of rapid economic expansion, the GDP growing by an average of 6.7% annually in 1999-2005 on the back of higher petroleum prices, a weaker ruble, and increasing service production and industrial output. The country is presently running a huge trade surplus, which has been helped by protective import barriers, and rampant corruption which ensures that it is almost impossible for foreign and local SMEs (small and medium sized enterprises) to import goods without the help of local specialist import firms, such as the Russia Import Company. Some import barriers are expected to be abolished after Russia's accession to the WTO in 2006.
The recent recovery, made possible due to high world oil prices, along with a renewed government effort in 2000 and 2001 to advance lagging structural reforms, has raised business and investor confidence over Russia's prospects in its second decade of transition. Russia remains heavily dependent on exports of commodities, particularly oil, natural gas, metals, and timber, which account for about 80% of exports, leaving the country vulnerable to swings in world prices. In recent years, however, the economy has also been driven by growing internal consumer demand that has increased by over 12% annually in 2000-2005, showing the strengthening of its own internal market.
The economic development of the country has been extremely uneven: the Moscow region contributes one-third of the country's GDP while having only a tenth of its population. GDP increased by 7.2% in 2004 and 6.4% in 2005.
Russian GDP
The country's GDP (PPP) shot up to reach €1.2 trillion ($1.5 trillion) in
2004, making it the ninth largest economy in the world and the fifth largest in Europe. If the current growth rate is sustained, the country is expected to become the second largest European economy after Germany (€1.9 trillion or $2.3 trillion) and the sixth largest in the world within a few years.
In 2005, according to State Statistics Committee, GDP reached $765 billion nominally (21.7 billion rubles), equal to $1.748 trillion in international dollars (PPP; power purchase parity). Inflation was 10.9% percent. The consolidated budget took 38.6% of country's GDP: $675 billion (PPP). The government plans to reduce the tax burden, although the time and scale of such a reduction remains undecided.
By August 17th, 2006, Russia's international reserves reached $277 billion nominally and projected to grow to $320 billion by the end of this year and to $350-450 billion by the end of 2007.
Formed by State in 2004, Stabilization Fund (SF) grew to $75 billion and is projected to achieve $110 billion by the end of the year, $173 billion by the end of 2007, and about $300 billion by the end of 2009.
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According to the Federal State Statistics Service of Russia, the monthly nominal average salary was about RUR 10,975 (about $408 nominally; about $800 PPP) in June, 25.6 percent higher than in June 2005 and 7 percent more than in May 2006.
For 2007 year, GDP is projected to grow to about $1.2 trillion nominally (31.2 billion rubles; about $2-2.5 trillion PPP).
Challenge
Some perceive the greatest challenge facing the Russian economy to be encouraging the development of SMEs in a business climate with a young and less-than-sufficient functional banking system. Few of Russia's banks are owned by oligarchs, who often use the deposits to lend to their own businesses. The 2005 Milken Institute's ratings place Russia at the 51st place in the world, out of 121 countries by the availability of capital.
The European Bank for Reconstruction and Development and the World Bank have attempted to kick-start normal banking practices by making equity and debt investments in a number of banks, but with very limited success.
However, about 25 biggest banks of Russia get entry into Top 1000 banks of the world by The Banker. Many more Russian banks have very high international ratings by Moodys and Fitch, including "investment" level.
Other problems include disproportional economic development of Russia's own regions. While the huge capital region of Moscow is a bustling, affluent metropolis living on the cutting edge of technology with a per capita income rapidly approaching that of the leading Eurozone economies, much of the country, especially its indigenous and rural communities in Asia, lags significantly behind. Market integration is nonetheless making itself felt in some other sizeable cities such as Saint Petersburg, Kaliningrad, and Ekaterinburg, and recently also in the adjacent rural areas.
The arrest of Russia's wealthiest businessman Mikhail Khodorkovsky on charges of fraud and corruption in relation to the large-scale privatizations organized under then-President Yeltsin, contrary to some expectations, has not caused most foreign investors to worry about the stability of the Russian economy. Most of the large fortunes currently prevailing in Russia are the product of either acquiring government assets at particularly low costs or gaining concessions from the government. Other countries have expressed concerns and worries at the "selective" application of the law against individual businessmen, though the government actions have been received positively by most of the aggravated Russians.
Outlook
There has been a significant inflow of capital in recent years from many European investors attracted by cheaper land, labor and higher growth rates than in the rest of Europe. Amazingly high levels of education and societal involvement achieved by the majority of the population, including women and
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minorities, secular attitudes, mobile class structure, better integration of various minorities in the mainstream culture set Russia far apart from the majority of the so-called developing countries and even some developed nations.
So far, the country is also benefiting from rising oil prices and has been able to pay off almost all of its formerly huge debt. Equal redistribution of capital gains from the natural resource industries to other sectors is however a problem. Still, since 2003, exports of natural resources started decreasing in economic importance as the internal market has strengthened considerably largely stimulated by intense construction, as well as consumption of increasingly diverse goods and services. Yet teaching customers and encouraging consumer spending is a relatively tough task for many provincial areas where consumer demand is primitive. However, some laudable progress has been made in larger cities, especially in clothing, food, and entertainment industries.
Additionally, some international firms are investing in Russia. According to the International Monetary Fund (IMF), Russia had nearly $26 billion in cumulative foreign direct investment inflows during the 2001-2004 period (of which $11.7 billion occurred in 2004).
[www.ereport. (source – Wikipedia)].
Chapter II. Money and banking
I. Remember the words on the topic: means of payment – средство платежа
medium of exchange – средство обращения currency – валюта
in local currency- в местной валюте fee (dues ) – взнос
fee receipt – квитанция об оплате взноса fee remittance – перевод взноса
refund a fee – возвратить взнос pay one’s fee – оплатить взнос banknotes – денежные знаки treasurer – казначей
petty cash – мелкие суммы expenses (expenditure) - расходы standard of value – мера стоимости unit of account – единица учета
store of value – средство сбережения (сохранения стоимости) standard of deferred payment – средство погашения долга barter economy – бартерная экономика
swap (a/so swop; syn. to exchange, to barter) – обменивать, менять hand over in exchange – передать, вручить в обмен
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double coincidence of wants – двойное совпадение потребностей monetary unit – денежная единица
remind of – напоминать
be worthless – обесцениваться
interest-bearing bank account – счет в банке с выплатой процентов pay interest – приносить процентный доход
erode – зд. фактически уменьшать
hard currency – твердая (конвертируемая) валюта soft currency – неконвертируемая валюта invariably – неизменно, постоянно prisoner-of-war camp – лагерь военнопленных commodity money — деньги – товар
token money – символические деньги (дензнаки) inch – дюйм (равен 2,5 см)
tiny costs – мизерные затраты
legal tender – законное платежное средство supplement – дополнять
IOU money – I owe you – я вам должен; деньги – долговое обязательство bank deposit – вклад в банке
II. Give Russian equivalents: consumer –
commodity – supply – percentage – determinant – stockbroker – transaction – substitute – output – return –
barter economy is wasteful – exchange labour services for money – rapid German inflation –
survival of token money – exceeds its cost of production –
III. Give English equivalents:
Доход – Стимул – Счет – Износ –
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Предпочтение – Приоритет – Налог – Услуги – Затраты –
Обязательство – Мера стоимости –
Средство сбережения – Средство погашения долга – Платить –
Потребительское использование – Ограничение права – Вклад в банке – Банковская ссуда – Долговое обязательство –
IV. Identify these terms:
Price system, retail price index, consumer choice, demand elasticity, stock market, tax revenue.
V. Make up sentences with the words given below:
To bid up, to predict, to transact, to distribute, to impose, to sell at.
VI .Insert the necessary words:
1.Economists study how the manufactures decide whether … (to propose, to produce, to merchandise) cars or bicycles.
2.Nowadays business can be … (transacted, accepted, involved) over the telephone.
3.Profits are the … (expense, excess, exchange) of revenues over the costs. 4.Ease of … (supply, transaction, substitution) implies a high demand elasticity for a particular good.
VII. Read the following text:
TEXT A
Money and its Functions
Although the crucial feature of money is its acceptance as the means of payment or medium of exchange, money has other functions. It serves as a standard of value, a unit of account, a store of value and as a standard of deferred payment. We discuss each of the functions of money in turn.
The Medium of Exchange
Money, the medium of exchange, is used in one-half of almost all exchange. Workers exchange labour services for money. People buy and sell
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