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Файл:Economics in Construction. Учебное пособие
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Nash's life and schizophrenia as well as for the over-simplified representation of
the famous Nash equilibrium. The PBS documentary A Brilliant Madness
attempts to portray his life more accurately.
He currently holds an appointment in mathematics at Princeton. While
cautious with people he does not know, insiders cite a dry sense of humour.
Source: Sylvia Nasar A Beautuful Mind, 1998
GRAMMATICAL NOTES
having just committed Nash to только что отправив
-
-в - having given having done
having gone
VOCABULARY
to share the Nobel Prize in -
to turn into
equilibrium
transaction
to be on benefit to
deduction
to use university facilities
equation
appointment
51
to appreciate
to scribble
arcane
a shadowy figure
trend
on-campus legend
to have a dry sense of humor сухое чувство
-
1. Give Russian equivalents to the following word combinations:
Differential geometry; to hold an appointment in; oversimplified repre-
sentation; in memory of; a winner of a scholarship; arcane equations; to commit
to a mental hospital; under the supervision of; to undergo treatment; to be
versity facilities; to
cope with; mental illness; to persist in; to be criticized for; a dry sense of
humour; to conduct the research; a work of fiction; calculation of; to develop
computer programs; exact values; released in; inaccurate portrayal; to receive
-cooperative games;
insulin shock therapy.
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2. Find in the text and give English equivalents to the following
word combinations:
3. Translate words and word combinations in:
1. It happens sometimes when a child остается без имени for a rather
long period of time.
2. He worked on macroeconomic theory под руководством of a famous
professor.
3. Mathematicians are mad about writing секретные уравнения on
black and whiteboards.
4. The real story of this outstanding person появилась в
художественной литературе.
5. Jack was allowed to use all the facilities of the university для
проведения исследований.
6. He will be able справиться c his problems alone.
7. Mike получил степень доктора наук because he persisted in his
studying, and Pete became обладателем стипендии at Saratov State
University.
8. They wanted наше внимание to this subject, but were not
interested in it.
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9. In his диссертации he touched upon some questions of equilibrium
theory.
4. Translate into English:
1. -
5. Answer the questions to the text:
1. In what field of science did John Nash work?
2. What kind of disease did he have?
3. How did he try to cope with his mental illness?
4. What kind of person was he?
5. What (who) helped him to proceed in his life?
54
6. Discuss the following:
1. turning out to be
a. very important
2. to thaw
b. to improve, make better
3. opinion polls
4.to boost
d. becoming
5. unemployment
e. to melt, when ice turns back into water
6. to give in to
f. workers paid by the government
7. public sector
workers
g. to agree to do something that you do not want to
do
8. a strike
h. when people cannot get jobs
9. crucial
i. when workers refuse to work
10. to balance the
books
j. make sure that the amount of money spent is not
greater than the amount of money received
rsistent desire to work. Obstacles in
our life that hinder us do what we want and need and the way out.
7. Match the words or phrases with their definitions and translate
them:
8. Complete the sentences:
1. If you want to receive Ph.D. in any science you must ...
2. One must be committed to a mental hospital ...
3. Any treatment may worsen conditions or ...
4. On blackboard people usually write ...
5. His strong desire to go on working drove him ...
6. You need to be more accurate to ...
7. Some people scribble equations when they ...
8. Exact values are a part of ...
9. Many scientific researchers have dry ... .
55
9. Translate the text in a written form:
What a winter this is tuning out to be for Gerhard Schroeder. Even his
infamous charm has failed to thaw the icy reception he's receiving from all
sides. Public opinion polls show that most Germans have little faith now in their
Chancellor. He's raising taxes and cutting public spending and despite a repeated
promise to boost the job market, unemployment continues to rise - it's up to
18.5 percent in eastern parts of the country. Mr. Schroeder has warned Germans
that financially this will be a tough year, yet at the same time his government
looks likely to give in to demands for a wage increase by public sector
workers.
This, say many Germans, in a cynical attempt to avoid a strike before
crucial regional elections at tie beginning of next month. So the voters here are
not impressed but then neither are Germany's European partners. On
Wednesday the European Commission scolded Mr. Schroeder for overspending.
It's given him until m to balance the books. On top of this, the media here are
reporting a chill in Mr. Schroeder's marital relations. Germany's Chancellor
really is out in the cold.
10. Put questions to the words in bold and answer them.
11. Make up your own sentences using the words in bold.
12. Discuss the following:
1.
problems.
2. Unemployment rate depends much upon government policy.
56
U N I T 7
ECONOMETRICS
Econometrics literally means
'economic measurement'. It is a
combination of mathematical
economics, statistics, economic
statistics and economic theory. The two
main purposes of econometrics are to
give empirical content to economic theory and also to empirically verify
economic theory. For example, econometrics could empirically verily if indeed a
given demand curve slopes downward as economic theory would suggest.
Empirical content is also given in that a numerical value would be given to this
slope, while economic theory alone is usually mute on actual specific values.
Arguably the most important tool of econometrics is regression analysis
(for an overview of a linear implementation of this framework, see linear
regression). Econometric analysis can often be divided into time-series analysis
and cross-sectional analysis. Time-series analysis examines variables over time,
such as the effect of interest rates on national expenditure. Cross-sectional
analysis studies relationship between different variables at a point in time.
For instance, the relationship between income, locality, and personal
expenditure. When time-series analysis and cross-sectional analysis are
conducted simultaneously on the same sample, it is called panel analysis. If the
sample is different each time, it is called pooled cross section data. Multidimensional panel data analysis is conducted on data sets that have more than
two dimensions. For example, some forecast data sets provide forecasts for,
conducted by multiple forecasters, and made at multiple horizons. The three
57
dimensions provide more information than can be gleaned from two dimensional
panel data sets.
A simple example of a relationship in econometrics is:
Personal Expenditure = Propensity to Spend * Income + random error
This statement asserts that the amount a person spends is dependent on his
or her income and his or her willingness to spend money. If we can observe
personal expenditure and income, techniques such as regression analysis can
then be applied to find the value of the coefficients, here just the propensity to
spend. The estimated coefficient can then be compared across samples (such as
different countries or income brackets) and conclusions made.
The above example can also be used to illustrate the many difficulties
facing the applied econometrician. For instance, do we really know that the
above relationship is correct? Perhaps the true relationship between personal
expenditure and income is non-linear (that is, curved). Even if we know the
correct theory, it is not certain we can measure personal expenditure and income
correctly. For instance, the value of work by homemakers is not recorded
although it contributes to income. There are also a variety of statistical pitfalls
that potentially lead to incorrect conclusions. Econometrics has dealt extensively
with such issues. Often it turns out to be difficult to fully implement the
resulting methods in practice.
Source: John F. Nash Jr. The Concise Encyclopedia of Economics, 2008
GRAMMATICAL NOTES
as economic theory would suggest – , вероятно, предположила бы
. would
Would
58
VOCABULARY
multi-dimensional panel data analysis
on the same sample
demand curve
to slope downward
econometric analysis
on national expenditure
simultaneously
to assert
mute on
to glean
combination
multiple
target
pitfall
economic measurement
empirical content
propensity
to implement
1. Give Russian equivalents to the following word combinations:
conomic measurement; value of coefficients; actual specific values; to
verify economic theory; demand curve; to slope downward; personal
expenditure; multi-dimensional; panel data analysis; to provide forecasts; timeseries analysis; cross-sectional analysis; propensity to spend; regression
analysis; random error; a non-linier relationship; to contribute to income;
statistical pitfalls; it turns out to be; empirical content; numerical value; to be
59
mute on; liner implementation; pooled cross section data; liner regression; to
make conclusions; multiple horizons.
2. Find in the text and give English equivalents to the following
word combinations:
3. Translate words and word combinations in bold and the whole
sentences:
1. The relationship between these two mathematical values is
нелинейное.
2. This type of analysis examines переменные.
3. This panel gives more opportunities для сбора информации we need.
4. You can see, as this diagram suggests, that кривая линия спроса
slopes upward.
5. One of the main points in cross-sectional analysis studies is месторас-
положение.
6. We had to find предполагаемый коэффициент in a very short
period of time.
7. 1 made one and the same mistake quite often because 1 could not
сделать правильные выводы.
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