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Файл:Экономика. Понятия, принципы, проблемы. Учебное пособие
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THE GERUND versus THE VERBAL NOUN
Gerund Verbal noun
has a double character – nominal
and verbal (aspect/voice
distinctions)
writing - being written
has only a nominal character
writing
having written – having been
written
is not used with an article:
Reading scientific papers is useful.
may be used with an article:
The reading of scientific papers is
useful.
has no plural form may be used in the plural:
The readings of this device are
correct.
may be modified by an adverb:
Mastering the tools of economic
analysis thoroughly will assist you
to run a business.
cannot take a prepositional
object with the preposition of:
Making a model is a way to provide
an insight into the problem.
may be modified by an adjective:
A thorough mastering of the tools
of economic analysis is needed to
run a business.
takes a prepositional object with
the preposition of:
Years of research went into the
making of the model.
4. Read the sentences and single out those which have gerunds.
1. Hypotheses formulated by deduction provide guidelines for the
economist in gathering and systematizing empirical data.
2. The gathering of facts can be an infinitely complex task.
3. Economic principles are used in formulating policies for correcting
or avoiding economic problems.
4. The facts concerning the behavior of individuals and institutions in
producing, exchanging and consuming goods and services change with
time.
5. One of the mistakes in economic thinking is to assume that “what
is true for an individual is necessarily true for a group.
6. It’s very important in the analyzing of the empirical data not to
confuse correlation with cause-and-effect relationship.
21
DISCUSSION
1. Comment on Fig. 1.1 explaining in detail the interrelationship
between facts, principles and policies in economics. Describe the
procedures employed by economists.
Policy or applied economics is concerned with
controlling economic behavior or its
consequences
3. POLICIES
2. PRINCIPLES OR THEORIES
Theoretical economics involves generalizing
about economic behavior
Induction
Deduction
Descriptive or empirical economics is
concerned with gathering facts relevant to a
specific problem of the economy and with
testing hypothesis against the facts to validate
theories
1. FACTS
Fig. 1.1. The relationship between facts, principles, and policies in economics
2. Analyze and explain the following quotation:
“Facts are seldom simple and usually complicated; theoretical analysis
is needed to unravel the complications and interpret the facts before we can
understand them … the opposition of facts and theory is a false one; the true
22
relationship is complementary. We cannot in practice consider a fact
without relating it to other facts, and the relation is a theory. Facts by
themselves are dumb; before they will tell us anything we have to arrange
them, and the arrangement is a theory. Theory is simply the unavoidable
arrangement and interpretation of facts, which gives us generalizations on
which we can argue and act, in the place of a mass of disjointed
particulars”.1
3. Restore the logical order of the text passages ( A–G).
1 – A 2 – 3 – 4 – 5 – 6 – 7 –
THE TOOLS OF ECONOMIC ANALYSIS
A. To analyze economic issues economists use both models and
data.
B. The data or facts interact with models in two ways. First, the data
help us quantify the relationships to which our theoretical models draw
attention. It may be insufficient to work out that all bridges across the
Thames are likely to be congested (перегруженный). To choose the best
route we need to know how long we would have to queue at each bridge.
We need some facts. The model is useful because it tells us which facts are
likely to be the most important. Bridges are more likely to be congested
than six-lane motorways.
C. An economist uses a model in the way a traveler uses a map. A map
of London misses out many features of the real world – traffic lights,
roundabouts, the exact width of streets – but if you study it carefully you
can get a good picture of how the traffic is likely to flow and what will be
the best route to take. This simplified picture is easy to follow, yet helps you
understand real-world behavior when you must drive through the city in the
rush hour.
D. Second, the data help us to test our models. Like all careful
scientists, economists must check that their theories square with
(согласуются) the relevant facts. Here the crucial word is relevant. For
example, it turns out that the number of Scottish dysentery deaths is closely
related to the actual inflation rate in the UK over many decades. Is this a
factual coincidence or the key to a theory of inflation? The facts alert us to
the need to ponder this question, but we can make a decision only by
recourse (прибегая) to logical reasoning.
1
H. Clay. Economics for the General Reader, New York: The Macmillan
Company, 1925, pp. 10 – 11.
23
E. A model or theory makes a series of simplifying assumptions from
which it deduces how people will behave. It is a deliberate (намеренный)
simplification of reality. Models are frameworks for organizing the way we
think about a problem. They simplify by omitting some details of the real
world to concentrate on the essentials. From this manageable picture of
reality we develop our analysis of how the economy works.
F. The blend of models and data is thus a subtle (едва различимый)
one. The data may alert us to logical relationships we had previously
overlooked. And whatever theory we wish to maintain should certainly be
checked against the facts. But only theoretical reasoning can guide an
intelligent assessment (оценка) of what evidence should be regarded as
being of reasonable relevance.
G. In this instance, since we can find no theoretical connection, we
regard the close factual relationship between Scottish dysentery deaths and
UK inflation as a coincidence that should be ignored. Without any logical
underpinning (подкрепление), the empirical connection will break down
sooner or later.
4. Complete the sentences according to the text above.
1. Models are …………. .
2. Models simplify by ……….. .
3. Data help economists: first, ………………….; second, ……… .
4. The model is useful because ………… .
5. Decisions are made only by …………. .
6. Empirical connection of facts needs ………… .
7. Theory should certainly be checked ……… .
8. Only theoretical reasoning can guide ……….. .
5. Let us assume that an economist was attempting to establish
the relationship between the rate of growth in the supply of money in
the economy and the rate of inflation (i.e. the annual percentage
increase in retail prices) the following year. In the process a number of
steps are followed. Rearrange the following steps in the correct order:
a) Predict the rate of inflation next year.
b) Collect data on the current rate of growth in the money supply.
c) Collect data on the rate of growth in the money supply and the rate
of inflation over a number of past years.
24
d) If the prediction is wrong, amend the theory or abandon it.
e) Establish a hypothesis about the relationship between the two
variables.
f) Continue collecting more evidence.
g) Conduct observations to establish whether the prediction is correct.
6. Discuss which of the following is associated with either micro
or macroeconomics:
statement micro macro
1. The gross profits of all American businesses were
$182 billion last year.
2. General Motors' profits increased in 1988.
3. The productivity of steel workers increased
by I percent in 1987.
4. The price of beef declined by 3 percent last year.
5. The real national output increased by 2.5 percent
last year.
6. Unemployment was 6.8 percent of the labor force
last year.
7. The price of wheat has increased this year.
8. The general price level increased by 4 percent
last year.
7. Look closely at the final paragraph of the text (p. 5) concerning
economic goals and discuss the questions in small groups, explaining
your opinions in detail.
1. Which of the goals (1 – 4) are subject to reasonably accurate
measurements?
2. Which of the goals are complementary in that one goal is achieved
some other goals tend to be realized?
3. Which of the goals may be conflicting or mutually exclusive?
4. What priorities would you assign to the goals?
25
WRITING
h
Definitions.
Academic Style.
DEFINITIONS
When we present new concepts, or explain new technology, or
describe a new way of looking at an old idea, we need to define these things
so that it is perfectly clear what we mean. The kind of definitions we are
usually concerned with in academic writing is a formal definition.
A formal definition is the well-known equation T = C + D,
where:
T is the term being defined,
C is the class of which the term is a member (subset),
D is the sum of the differences given to distinguish this term from all
other members of the class.
A definition of ‘a consumer’ is a good example of a formal definition:
“A consumer is a person who buys and uses goods and services”.
Another example of a formal definition is a definition of ‘an
encyclopaedia’: “An encyclopaedia is a book which gives information on
subjects in alphabetical order”.
Note: Who is used for persons, which is used for inanimate
objects and animals, where is used for places.
1. Join the sentences on the left below with the correct ones from
those on the right. Use an appropriate relative pronoun to create a
relative clause. E.g.: Economics is a social science. It studies economy.
Economics is a social science which studies economy.
1. A distributor is a company
a) He studies the way in which industry and
trade produce and use wealth.
2. Social economics is the
branch of economics
b) It studies the way the society is organized,
and the way people behave in relation to eac
other.
3. An economist is a person
c) They control and operate a business or
organization.
4. Sociology is the science
d) It is concerned with the measurement,
causes and consequences of social problems.
5. Management is a group of
people
6. Econometrics is the
e) It applies mathematical and statistical
techniques to economic problems.
f) It supplies goods to shops.
branch of economics
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2. Write out definitions of the following in the same way as above.
Use your dictionary to check definitions.
investor calculator
bank employment agency
manager
ACADEMIC STYLE
Formal style Informal style
conversational expressions are
contains a number colloquialisms
inappropriate
contractions like didn’t or they’ve
contractions may be used
are not recommended
hesitation fillers (i.e. well, you
know) are inappropriate
phrasal or prepositional verbs are
less suitable:
conduct
discover
investigate
euphemisms (words which are
thought to be less unpleasant and
less direct) should be avoided:
to die
to tell lies
ill
old person
impersonal verb phrases, passive
verb forms, cautious language are
hesitation fillers are quite common
in the spoken language
phrasal or prepositional verbs are
used quite frequently:
carry out
find out
look into
euphemisms are often used:
to pass away
to tell falsehoods
poorly
senior citizen
personal pronouns tend to be
frequently used
preferable
3. Compare these two explanations or definitions of economics.
What are the main differences? Identify each of them as either formal
or informal, spoken or written.
A. Economics? Yes, well,… economics is, I suppose, about people
trying to … let me see… match things that are scarce, you know, with
things that they want, …oh, yes, and how these efforts have an effect on
each other … through exchange.
27
B. Economics is the social science that studies how people attempt to
accommodate scarcity to their wants and how these attempts interact
through exchange.
4. Look at these eight explanations or definitions of ‘poverty’
written in different styles. Decide if the explanations are spoken or
written. Try to identify the type of source for each.
1. The situation or experience of being poor.
2. It is the inability to attain a minimal standard of living. It can be
expressed either in absolute terms (total numbers living below a certain per
capita income level) or relative terms (compared with the average standard
of living of the country as a whole). First we will consider absolute poverty.
3. When poverty comes in at the door, love flies out of the window.
4. The situation facing those in society whose material needs are least
satisfied. Poverty can be defined by some absolute measure … or in relative
terms … In either case it is necessarily an arbitrarily defined concept.
5. It means not having enough to live on in terms of food and shelter
and the other basic necessities of life.
6. The poor old man is badly off; he’s always hard up and needs
everything he can get.
7. The greatest of evils and the worst of crimes is poverty.
8. The Social Surveys of London, Liverpool and other towns round
about 1929 showed that there remained perhaps ten per cent of the urban
population below the ‘poverty line’, even outside the depressed areas.
Sources:
a) A proverb – about the effects of poverty.
b) A spoken explanation by an educated adult.
c) A dictionary definition. This is from the Longman Dictionary of
Contemporary English.
d) A specialist economics dictionary definition. From the Penquin
Dictionary of Economics by Graham Bannock, R.E. Baxter and Evan Davis.
Penquin Books, London. Fifth Edition, 1992.
e) An explanation by an economist. Spoken formally in a lecture or
written (in a text book).
f) From a history text. From The Common People: 1746 – 1946 by
G.D.H. Cole and Raymond Postgate. Methuen, London. Second Edition,
1956.
g) From literature. From the preface to the play Major Barbara (1907)
by G.B. Shaw (1856 – 1950).
h) Informally spoken, or a letter written to a friend (or a relative).
28
5. Now write your own explanation of ‘poverty’ in an academic
style.
6. In an academic style write an explanation or definition of two
of these:
inflation scarcity
money employer
household unemployment
CHECKLIST TO UNIT 1
1. What does economics study?
2. What differs economics from other social sciences?
3. What is the shortest way to define the science of economics?
4. What is economy?
5. What is the purpose of studying economics?
6. What is the central economic problem for a society?
7. What do economists do at the level of empirical economics?
8. What two things are sometimes confused in analyzing empirical data?
9. What is the end result of economic theory?
10. What is the purpose of deriving economic principles?
11. What are economic principles based upon?
12. How are economic principles derived?
13. What methods do economists use?
14. What does deductive method begin with?
15. How is the validity of hypotheses checked?
16. What is induction?
17. How many disciplines does economics consist of?
18. What is macroeconomics?
19. What is the concern of microeconomics?
20. What kinds of problems are solved within macro and
microeconomics?
21. What are the key words of macro and microeconomics?
22. What is the economist’s task at the level of applied economics?
23. What is the job of economists employed by large corporations?
24. What economic goals are widely accepted?
25. What does full employment/ economic growth/ price stability/
equitable distribution of income imply?
26. What is positive economics?
27. What is normative economics?
28. At what level of economics are value judgements involved?
29. When does disagreement among economists arise?
30. What is true relationship between facts and theory?
29
GLOSSARY
abandon v.
accessible adj.
accommodate v.
affect v.
aggregate v.
allocate v.
amend v.
assume v.
attempt v.
branch n.
capacity n.
community n.
compatible adj.
complementary adj.
complicated adj.
concern n.
concern v.
consumption n.
decision n.
define v.
derivation n.
descriptive adj.
dismiss v.
downswing v.
earnings n.
employ v.
entire adj.
essential adj.
equitable adj.
evidence n.
generalization n.
goal n.
goods n
.
household n.
income n.
input n.
judgement n.
отказываться от
доступный
приспосабливать,
согласовывать, предоставлять
жилье
влиять, действовать
совокупность; общий
размещать, распределять
вносить поправки
предполагать, допускать
пытаться, пробовать
отрасль, ветвь, отделение
способность, возможность
сообщество
совместимый
взаимно дополняющий
сложный
забота; отношение,
касательство; интерес;
значение; предприятие, фирма
касаться, иметь отношение;
заботиться; интересоваться
потребление
решение
определять
выведение
, образование
описательный
увольнять
понижение, ухудшение
заработок, прибыль, выручка
применять; нанимать
полный, совершенный; целый
необходимый, существенный
справедливый,
беспристрастный
доказательства, данные, факты
обобщение
цель
товары
семья, домашнее хозяйство
доход
ввод, входные данные, затраты
суждение
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