4. Three types of economists

There are three general categories of economists: business econo­mists, government economists and academic economists. Each type of economist applies the economic approach to decision making in a dif­ferent setting. Business economists work in manufacturing, mining, transporta­tion, communications, banking, insurance, retailing, investment, and other types of organizations. They also work in trade associations and consulting organizations.

Government economists are hired by federal, state and local gov­ernments. They serve in a wide variety of positions involving analysis and policy making.

A bachelor's degree in economics is a good qualification for an en­try position. Higher positions are open when you obtain a graduate degree. There are jobs for labour, international, development, and pop­ulation economists, as well as micro- and macroeconomists.

In order to teach at a college level an economist has to have a Ph.D. in economics. Faculty members usually teach, conduct research and have administrative responsibilities. Many academic economists also consult businesses or government.

Non-profit sector needs the expertise of professional economists. Economists working for such groups are expected to analyze issues and to write about them in a simple way which can be understood both by the average citizen and by elected lawmakers and government bu­reaucrats responsible for making and implementing policy.

Vocabulary

to apply the economic approach setting manufacturing mining insurance retailing trade associations to be hired by policy making bachelor's degree entry position graduate degree population conduct research non-profit sector expertise analyze average citizen elected lawmaker to implement a policy

использовать экономический подход ситуация, обстановка производство горнодобывающая промыш­ленность страховое дело розничная торговля торговые ассоциации быть нанятым кем-то законотворчество степень бакалавра стартовая позиция степень магистра или доктора наук население проводить исследования некоммерческий сектор опыт, знание дела анализировать зд. среднестатистический гра­жданин избранный законодатель проводить политику

Questions to the text

1. What types of economists are there?

2. What is common for different types of economists?

3. Where do business economists work?

4. Who hires government economists?

5. What is the qualification for an entry position in federal, state and local governments?

6. What do you need to teach economics at a college level?

7. What do faculty members do?

8. What do economists in non-profit sector do?

Translate into Russian.

1. Business economists apply the economic approach when they make decisions. 2. Business economists work in banking, insurance, re­tailing and investment. 3. Government economists are hired by federal, state or local governments. 4. Higher positions for government econo­mists are available only for individuals with a graduate degree. 5. Local, state and federal governments hire labour, development and popula­tion economists. 6. You need a Ph.D. degree to teach economics at a college level. 7. Economists working in non-profit sector are expected to analyze policies and write simple texts.

Translate into English.

1. Экономисты работают в трех секторах — коммерческом (бизнесе), правительственном и секторе высшего образования. 2. Бизнес-экономисты работают в различных сферах, но чаще всего на производстве, транспорте, в сфере коммуникаций, стра­ховом деле и розничной торговле. 3. Бизнес-экономисты работа-

TASK: Read and discuss texts 1, 2. Think of the plan for your discussion