- •What is economics Key Words and Phrases
- •Economic reforms in ukraine
- •Economic reforms in Ukraine
- •Exercises in word study
- •Economic development of great britain
- •Economic development of Great Britain
- •1. Translate into Ukrainian:
- •2. Find English equivalents in the text:
- •3. Fill in the blanks:
- •4. Say whether the following statements are true or false?
- •Management Read and memorize the following words and word combinations:
- •Management
- •Exercises in Word Study
- •Strategic Planning and Tactical Planning
- •Marketing
- •Marketing
- •Exercises in Word Study
- •Finance and their functions
- •What is Finance?
- •Exercises Word Study
- •Accouting
- •Exercises in Word Study
- •Auditing
- •Auditing
- •Exercises in word study:
- •Banking infrastructure in ukraine
- •Banking Infrastructure in Ukraine
- •Market economy
- •Market economy
- •Exercises in word study:
- •National economy
- •National economy
- •Exercises in word study:
- •The budget system of ukraine
- •The budget system of Ukraine
- •Exercises in word study
- •Railways in national economy
- •Railways in national economy
- •Exercise in word study:
- •My future speciality
- •My future speciality
- •1. Economics
- •2. Accounting and Finance
- •3. Banking
- •Exercises in word study
- •Питання для самоконтролю
- •Finances and their functions
- •Exercises Word Study
My future speciality
Read and memorize the following words and word combinations:
to produce and consume goods |
виробляти та споживати товари |
wages and salary |
заробітна плата |
the demand and the supply |
попит та пропозиція на товар |
competitive prices |
конкурентні ціни |
to assume responsibility and risk |
брати на себе відповідальність |
to make decisions |
прийняття рішень |
to sell and purchase assets |
продавати та купувати речі |
economic background |
економічна освіта |
to be in charge of finance |
відповідати за фінанси |
financial transactions |
фінансові операції |
to forecast |
прогнозувати |
up-to-date records of accounts |
щоденний облік рахунків |
to advise smb on financial matters |
консультувати з фінансових питань |
in regard to |
стосовно |
financial intermediation |
фінансове посередництво |
business and individuals |
юридичні та фізичні особи |
savings and checking accounts |
ощадний і поточний рахунки |
insurance |
страхування |
My future speciality
1. Economics
Economics studies the society and the ways we produce and consume goods and services, as well as our wages and earnings, unemployment in our country, inflation, government spending, taxation and its regulation, trade (home and international) and the distribution of material wealth in our country and throughout the world.
It is economists who deal with all these economic aspects. It is they who decide what, how, and for whom to produce goods and services. They study the demand and the supply for goods and services, identify those which the public demands, produce these goods and services efficiently, and sell them at competitive prices. The aim of economists and their economic activity is to achieve the highest possible level of goods and services production, their distribution, and consumption. If entrepreneurs economists accept responsibility and risk for their businesses operations with the expectations of making profits. It is important to stress the role of entrepreneurs as innovators who develop new products, new markets, or new means of production.
Managers deal with decision making. These people devote much time to developing long-term plans for their organizations. They make decisions whether to produce new products and how to sell them, to purchase some assets or to begin foreign activity. They must have economic background to be able to analyze and interpret business information to make correct decisions. They usually possess human relations skills, that is, the ability to work with people, to create a working environment where all their colleagues can contribute their best skills and work as a team of creative people.
Marketers, like managers, deal with economic matters. They plan pricing, promote and distribute products and services to their customers. Their task is to plan marketing strategy, to open new markets for their products. Factually the key factor of it is to have the right product at a reasonable price in the right place with the right promotion. Marketing management is one of the leading branches of modern economic activity.