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Contents

Preface…………………………………………………………………………………………..3

Unit I. Economy and Economics…………………………………………………5

Unit II. Belarusian Economy……………………………………………..............23

Unit III. Money………………………………………………………………......37

Unit IV. Banking…………………………………………………………………59

Unit V. Finance and Credit…………………………………………………….....80

Unit VI. Accounting and Audit…………………………………………………109

Appendix I. Curriculum…………………………………………………………1

Appendix II. Self-study…………………………………………………………1

Appendix III. Supplementary Reading…………………………………………1

Bibliography………………………………………………………………………

Unit I economy and economics Warming up

Answer the questions:

  1. Can you translate the word «экономика» into English?

  2. What is the difference in meaning between the words “economy” and “economics”?

  3. What do you know about economy?

  4. What does economy of a country consist of?

  5. Can you say a few words about the economy of Belarus?

  6. Why is it necessary to study economics?

  7. What do economists study?

  8. What spheres can economists find career opportunities in?

  9. Why have you chosen economics as a sphere for your future occupation?

Read the following quotation and give your opinion on it.

When an artist looks at the world, he sees colour.

When a musician looks at the world, he hears music.

When an economist looks at the world, he hears a symphony of costs and benefits. (D. Colander)

Topical Vocabulary

Nouns and noun phrases:

Activities – деятельность, активность;

economic activities

primary (первичный) economic activities

secondary (вторичный) economic activities

tertiary (третичный) economic activities

area – 1) площадь, пространство;

2) район, область;

3) область, сфера деятельности;

area of economics

area of study

remote area

rural area

approach – подход (к решению проблемы);

different approaches to

main approaches to

benefit – выгода, польза, прибыль;

branch – 1) отрасль, подразделение;

2) отделение, филиал;

branch of economy

branch of economics

branch of enterprise

commodity – предмет потребления, товар;

commodities

commodity production

consumption – потребление;

consumption of commodities

consumption of goods and services

consumption goods

demand – официальное требование; потребность; спрос;

demand for goods and services

demand for money

distribution – распределение;

distribution of products

distribution of income

economics – экономика (как наука);

economy – 1) экономика (как система народного хозяйства), хозяйство;

2) бережливость, расчетливость, экономия;

type of economy

country’s economy

employment – 1) служба, занятие, работа; ремесло, профессия;

2) занятость;

3) использование, применение, употребление;

ant. unemployment

full employment

employment of natural resources

entrepreneur – предприниматель;

entrepreneurial talent

enterprise – промышленное предприятие; предпринимательство;

private enterprise

public enterprise

commercial enterprise

free enterprise

expenditure – расходы, затраты;

government expenditure

production expenditures

force – сила; насилие; (мн.ч.) войска;

economic forces

market forces

labour forces

productive forces

goods – товары;

consumer goods

goods and services

household – семейство, семья; домашнее хозяйство;

household goods

household appliances

household management

income – прибыль, доход, заработок;

earned income

per capita income

institution – общество, организация, учреждение, ведомство;

financial institution

social institution

state-supported institution

manufacture – производство, изготовление;

of home manufacture

of foreign manufacture

manufactured goods

ownership – собственность;

joint ownership

private ownership

public ownership

state ownership

production – производство;

syn. manufacture

volume of production

means of production

factors of production

resources – запасы, ресурсы, средства;

available resources

economic resources

natural resources

scarce resources

service – 1) служба, занятие, работа;

2) учреждение, подразделение;

3) обслуживание, оказание услуг;

service industry

service business

catering services

government services

medical services

public services

supply – 1) снабжение, поставка;

2) ресурсы, припасы, запас;

3) предложение;

labour supply

suppliers of labour

supply and demand

wealth – богатство, состояние; материальные ценности, богатства;

natural wealth

mineral wealth