Exercise 5. Answer the following questions.

1. To what branch of science does economics belong to?

2. Does economics have deep roots in social philosophy?

3. What problems does economics deal with?

4. Why, do you think, some people are poor and others are rich?

5. Which two main divisions of economics do you know?

6. What do micro- and macroeconomics deal with?

7. Which issue of economics is of great importance to philosophers and why?

8. What would you do to cope with inequality?

Exercise 6. Complete the sentences.

1. Economics studies a wide _________ questions.

2. Economics is closely tied with ________

3. Many social philosophers were trying to solve a questions of ________

4. Economics is subdivided into ________

5. Microeconomics deals with ________ industries.

6. A household can be considered as an _______

7. The firm must make a ________ what to produce.

8. Microeconomics doesn’t ______ with the questions of output distribution.

1. The functioning of national economic complex is the sphere of ________

Exercise 7. Give English equivalents to the following words and phrases from the text.

Изучать экономику, иметь глубокие корни в, национальная экономика, отдельная самостоятельная экономическая единица, изучать проблему, домашнее хозяйство, отдельная предпринимательская фирма, получить представление, функционирование отдельных отраслей промышленности, социальная философия.

Exercise 8. Match synonyms in columns A and B.

A.	B.
range	question
part	piece
to produce	several
to deal with	to consider
to explore	comprehension
unemployment	outside the sphere
discipline	scope
firm	well - to do
wealthy	connection
province	subject
understanding	to manufacture
a number	company
tie	lack of jobs
issue	to examine

 

Exercise 9. Translate the following chains of words. Determine the part of speech and the way of word – building.

economy – economics – economist

economic – economical – economically

economize – economizer

science – scientist – scientific

employ – employment – unemployment – employer – employee

organize – organizer – organization – organizational

produce – producer – production – productive – productivity

Exercise 10. Translate the following sentences into Russian using the dictionary.

 

1. Russia tries to base its relations with other countries on the peaceful principles.

2. There is an objective need for all states of the world to live in peace with each other and to cooperate on a basis of equality and mutual benefit.

3. An efficient economy is one that produces what people want and does so at the least possible cost.

4. Britain needs raw materials for its industries.

5. The country depends on foreign trade to supply raw materials for factories.

6. Imports exceed exports in many developing countries.

7. Invisible trade compensates the unfavorable balance of trade.

 

 

Exercise 11. Translate the following definitions into English.

Экономика – это наука, включающая две дисциплины: микроэкономику и макроэкономику.

Микроэкономика – это отрасль, которая изучает индивидуальных производителей, потребителей или рынки. Она также изучает, как деятельность правительства (регулирование и налоги) влияет на отдельные рынки. Микроэкономика пытается понять, какие факторы воздействуют на цены, заработную плату и прибыль.

Макроэкономика – это отрасль, которая изучает экономику в целом. В частности, она занимается общими цифрами производительности, безработицы и инфляции.

Exercise 12. 9 Listening.

Before you listen discuss the following questions with your partner:

- If you live in a modern economy, life is quite easy.

- Before the industrial revolution life was much harder.

- In what ways was life more difficult?

Listen to someone talking about industrial revolution and do the tasks:

- Which of these things are mentioned?

1. length of live

2. housing

3. illnesses

4. work

5. food

6. having children

 

- Mach the description with the numbers.

1. life expectancy   2. number of children who died before they reached five years old   3. number of women who died when they were giving birth   4. years since the industrial revolution

A. about 250   B. 1 in 10     C. 25     D. 1 in 3

Exercise 13. Discussion.

1. Do you sometimes listen to the economy news on TV or on the radio?

2. What do you think of the state of economy in Russia?

3. What do your parents (grandparents) think of economic reforms in Russia? Did they live better or worse before?

4. What type of economy does Russia build?

5. Do you think you have more opportunities to be well off than your grandparents?

Exercise 14. Read the text