- •Министерство образования республики беларусь
- •Contents
- •Unit 1 economics as a science
- •Vocabulary Focus
- •Unit 2 microeconomics and macroeconomics
- •Vocabulary Focus
- •Unit 3 types of economic systems
- •Vocabulary Focus
- •Unit 4 scarcity and choice
- •Why are scarcity and choice basic problems of economics?
- •Unit 5 demand and supply
- •Equal (adj) - ['I:kwəl] – равный, тождественный
- •Vocabulary Focus
- •Unit 6 opportunity cost
- •Vocabulary Focus
- •Unit 7 money
- •Vocabulary Focus
- •Unit 8 markets and prices
- •Vocabulary Focus
- •Unit 9 factors of production
- •Vocabulary Focus
- •Unit 10 forms of business
- •3. Reproduce the context in which the following word-combinations are used.
- •Vocabulary Focus
- •Unit 11 government and business
- •Vocabulary Focus
- •Unit 12 corporate culture
- •Vocabulary Focus
- •Unit 13 employment
- •Vocabulary Focus
- •Unit 14 globalization
- •Vocabulary Focus
- •Unit 15 the first modern economists
- •Vocabulary Focus
- •Supplementary reading Unit 1 Economics as a Science
- •Unit 2 Microeconomics and Macroeconomics
- •Unit 3 Types of Economic Systems
- •Unit 4 Scarcity and Choice
- •Unit 5 Demand and Supply
- •Import and Export
- •Unit 6 Opportunity Cost
- •Unit 7 Money
- •Unit 8 Markets and Prices
- •Unit 9 Factors of Production
- •Unit 10 Forms of Business
- •Unit 11 Government and Business
- •Unit 12 Corporate Culture
- •Unit 13 Employment
- •Unit 14 Globalization
- •Unit 15 The First Modern Economists
Vocabulary Focus
Use the words from the list of Useful Vocabulary to complete the sentences.
1. The development of national ….. is based on certain laws and principles.
a. economize
b. economy
c. economics
2. The increase in the ….. of goods is always limited by the budget constraints.
a. consumption
b. efficiency
c. reliability
3. Economists ….. forces of demand and supply to determine the prices of goods and services.
a. ignore
b. consider
c. improve
4. One of the urgent tasks of the Government is to ….. people’s well-being.
a. improve
b. manage
c. analyze
5. The management of the company is expected to ….. effectively and quickly.
a. fire the staff
b. make decisions
c. improve well-being
2. Give the synonyms to the following words and word combinations. Mind the list of Useful Vocabulary.
manufacturing
using
company
to satisfy wants
to try
3. Give the English equivalents to the following expressions.
производство товаров и услуг
распределять доступные ресурсы
улучшать благосостояние
получать удовлетворение
совокупный результат
сферы деятельности
выбирать из альтернатив
сталкиваться с проблемой
размещать недостающие ресурсы
проблема нехватки, дефицита
Talking Points
Explain in your own words how you understand the problem of scarcity.
Comment on the quotation
“Economics is the study of people in the ordinary business of life” (Alfred Marshall)
Prove that the subject of economics is interesting to you. Use the following expressions in your answers.
- I really enjoy economics because ………
- I’m quite interested in economics because ………
- I would like to know more about economics because ………
- I think economics is interesting for studying because ………
Summary Points
1. Study the guidelines to summarizing.
Реферирование (англ. summary) – это сжатое изложение основной информации первоисточника на основе её смысловой переработки. Как правило, реферат состоит из трёх основных частей: введение, основная часть, заключение и соответствует следующим требованиям:
1. Реферат представляет собой краткое изложение основного содержания текста, статьи и т.д. и составляет примерно 1/3 оригинала.
2. Предпочтительно при реферировании излагать информацию своими собственными словами.
3. Вводная часть реферата включает в себя заглавие оригинала, его главную тему и идею.
2. Look through the text from Reading and define its topic and main idea, using the following phrases.
The basic topic is ……… The subject (subject matter) of the text is |
Основная тема ……… |
The main idea is that ……… |
Основная идея заключается в том, что ……… |
The text (passage) discusses (considers, focuses on, addresses) the problem of ……… |
В тексте (отрывке) обсуждается (рассматривается, сосредоточивается внимание на…) проблема(е) ……… |
The text (passage) deals with ……… |
В тексте (отрывке) говорится о ……… |
Unit 2 microeconomics and macroeconomics
Lead-in
Do you know what the difference is between macroeconomics and microeconomics?
Are the following statements about microeconomics or macroeconomics?
… deals with topics of inflation and unemployment.
… studies how people make decisions to allocate limited resources.
In … the focus is placed on factors that affect the decisions made by firms and individuals.
... includes a national, regional, or global economy.
Key Vocabulary
Study the following vocabulary and do the tasks that follow.
1. allocation n |
распределение |
2. distribute v |
распределять |
3. divide v |
делиться, подразделять |
4. behaviour n |
поведение |
5. affect v |
влиять |
6. make a profit |
получать прибыль |
7. study v |
изучать |
8. entire adj |
весь, взятый в целом |
9. unemployment n |
безработица |
10. income n |
доход |
11. rate of growth |
темп роста |
12. gross domestic product (GDP) |
валовый внутренний продукт (ВВП) |
13. price level |
ценовой уровень |
14. cause v |
быть причиной, вызывать |
15. trend n |
направление, тенденция |
16. interdependent adj |
взаимозависимый |
Pre-reading Activities
1. Use a dictionary and underline the odd word (лишнее слово) in each line. Explain your choice and learn the vocabulary.
a) distribution – allocation – consumption
b) examine – deal with – study
c) effect – affect – influence
d) allocate – connect – distribute
2. Complete the crossword puzzle using your active vocabulary.
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1. the state of not having a job
2. complete or full
3. money earned by work or investments
4. to make something happen
5. distribution
6. the amount of money expected, required, or given in payment for something
7. a general direction in which something is developing or changing
8. to inspect (someone or something) thoroughly in order to determine their nature or condition
9. to have an influence on someone or something, or to cause them to change
Reading
Read the text and check whether you answered the Lead-in questions correctly.
Economics is the science that deals with production, allocation, and use of goods and services. It is important to study how resources can best be distributed to meet the needs of the greatest number of people. As we are more connected globally to one another, the study of economics becomes an extremely important issue.
Economics is a broad subject that can be divided into two areas: microeconomics and macroeconomics.
Microeconomics, the study of the economic behaviour of small economic groups such as firms and families, is one of the largest subfields in economics. Microeconomics deals with economic decisions made at a low, or micro, level. It is the analysis of the decisions made by individuals and groups, the factors that affect those decisions, and how those decisions affect others.
Microeconomics asks questions: “How do individuals make consumption decisions?”, “How do firms make profits and price their goods and services?”, etc.
“Macro” means “large”. Macroeconomics is the field of economics that studies the behaviour of the economy as a whole, not just specific companies, but entire industries and economies. This area of economics examines economy-wide phenomena such as changes in unemployment, national income, rate of growth, gross domestic product, inflation and price levels. Macroeconomics asks questions like: “What causes inflation?”, “What effect does the national debt have on economic growth?”, etc.
So, macroeconomics is focused on the movement and trends in the economy as a whole, while in microeconomics the focus is placed on factors that affect the decisions made by firms and individuals. These two studies of economics are different, but they are interdependent and complement each other. The factors that are studied by macro- and microeconomics often influence each other.
Comprehension
1. Match these sentence halves describing economics and its two areas.
1. Microeconomics is |
a) the economic behavior of individual consumers, firms, and industries. |
2. Economics is |
b) one of the two main fields of the social science of economics. |
3. Microeconomics is the study of |
c) the influence of all economic factors on each other. |
4. Macroeconomics seeks to understand |
d) a social science concerned with the production, distribution, exchange, and consumption of goods and services. |
2. Decide whether the following statements are True or False.
1. Resources should be distributed in the best way to meet the needs of people.
2. The study of macroeconomics is an extremely important issue.
3. Microeconomics is one of the largest subfields in economics.
4. Microeconomics is the analysis of the decisions made by individuals and groups.
5. Macroeconomics deals with economic decisions made at a low level.
6. The two studies of economics complement each other.
3. Answer the questions.
1. What is economics?
2. Why is it important to study economics?
3. Is microeconomics the study of the economic behaviour of small economic groups?
4. What kind of analysis is microeconomics?
5. What does macroeconomics examine?
6. What questions are asked by the two areas of economics?
7. Do factors that are studied by macro- and microeconomics influence each other? In what way?