Exercise 2. Increase your vocabulary.

In this section you should use your dictionary to help you answer the questions about the text.

1. Look at the first paragraph again. What words correspond to these definitions?

• way of studying a subject

• give particular attention to

• way of looking at a subject

• quoted

2. Look at the first paragraph again and say what words have the opposite meaning to:

• beginning

• at different times

• simple and uncomplicated

3. Look at the first paragraph again. Can you explain the words:

• consumption

• exchange

4. Look at paragraph 2 and say which words have the same meaning as:

• pulling out of shape

• pay not enough attention to

• pay no attention to

• think out, plan

• keep safe

• brought about

• showing or having good sense

5. Look at paragraph 3 and say which words have the same meaning as:

• keep

• makes easier, less complicated

• as a rule, characteristically

• be sensible

 

 

Exercise 3. Understanding a lecture

1. You are now going to hear part of a lecture, divided into sections to help you understand it. As you listen, answer the questions below.

Section 1

Are these statements correct or incorrect?

• The students will not study macroeconomics at all after this lecture.
• The lecturer expects his students to have heard more about macroeconomics than microeconomics.
• Macroeconomics is of greater public interest than microeconomics.

Section 2

• How many key terms is the lecturer going to talk about?

________________________________________________________________________________________________

• Note down the first item the lecturer introduces, its abbreviation and meaning

________________________________________________________________________________________________

________________________________________________________________________________________________

________________________________________________________________________________________________

Section 3

• Note down the next term the lecturer introduces and its definition

________________________________________________________________________________________________

________________________________________________________________________________________________

________________________________________________________________________________________________

• Is this statement correct or incorrect? “Prices of different goods move inline with each other.”
• Note down the term the lecturer uses to describe an economy in which the price level is rising.

________________________________________________________________________________________________

Section 4

• Note down the next term the lecturer introduces and its definition

________________________________________________________________________________________________

________________________________________________________________________________________________

• Is this statement correct or incorrect? “The labour force includes those people who don’t have to work but are of working age.”

2. You should also write a summary of the lecture, based on your notes.

 

Exercise 4.2 (Study Guide, unit 4). Find in the text English equivalents for the following:

землепользование; перенаселенность; подразделять в соответствии с применяемым методом или подходом; обобщить поведение всех домохозяйств и фирм; довести до логического завершения; сохранять элемент искусства; найти разумные упрощения; искажать действительность; идти разными путями; не учитывать взаимодействия; цепь косвенных последствий; воспользоваться прецедентом; гарантировать высокую оплату труда; преднамеренно упрощать отдельные составляющие элементы; деление товаров на /категории/; потребительские товары.

Exercise 4.3 (Study Guide, unit 4). Fill in the blank spaces with prepositions where necessary:

Microeconomics and macroeconomics differ.../1/ the questions each asks and.../2/ the level of aggregation each uses. Microeconomics deals.../3/ the determination.../4/ prices and quantities in individual markets and.../5/ the relations.../6/ markets. Thus it looks.../7/ the details of the market economy. It asks, for example,.../8/ the determinants.../9/ the output of pocket calculators, automobiles, and Domino’s pizzas. It asks, too,.../10/ the prices of the things - why some prices go up and others down.

Economists interested.../11/ microeconomics analyse how prices and outputs respond.../12/ exogenous shocks caused.../13/ events in other markets or.../14/ government policy. They ask, for example, how a technical innovation, a government subsidy, or a draught will affect.../15/ the price and output of beet sugar and employment of farm workers.

.../16/ contrast, macroeconomics focuses.../17/ much broader aggregates. It looks.../18/ such things as the total number of people employed, the average level of prices and how it changes.../19/ time. Macroeconomics asks what determines these aggregates and how they respond.../20/ changing conditions. Whereas microeconomics looks.../21/ demand and supply.../22/ regard.../23/ particular commodities, macroeconomics looks.../24/ aggregate demand and aggregate supply.

 

Exercise 4.4 (Study Guide, unit 4).

Give English equivalents for the following. Consult the Economic dictionary.

Analysis

сравнительный анализ; анализ затрат и эффективности; факторный анализ; макроэкономический анализ; метод предельных показателей; анализ сезонных изменений; анализ краткосрочных изменений; экспертный анализ рыночных тенденций; анализируемая проблема; анализ издержек

Equilibrium

равновесие рынка; точка равновесия; равновесная цена; конкурентное равновесие; равновесный уровень цен; подвижное равновесие; равновесие в мировой торговле; равновесное количество; находиться в равновесии; достичь равновесия; восстановить рыночное равновесие

Behaviour

поведение покупателя; динамика цен; состояние рынка; поведение/реакция/ деловых кругов; динамика производства

Household

предметы домашнего обихода; расходы домашних хозяйств; потребительские товары длительного пользования; продукция домашних хозяйств; сектор домашних хозяйств

Aggregate

общая сумма; общий подход; совокупный спрос; общий объем продукции; совокупный продукт; совокупный уровень цен; укрупненный базисный показатель; денежная масса; совокупные расходы на потребление; сводить в единое целое поведение деловых кругов

Total

совокупные издержки; совокупный продукт; общий доход; общие издержки; валовый выпуск; суммарные прибыли; общая выручка; общий экспорт/импорт; подводить итог/подсчитывать