Pay special attention to the stress in the following groups of words. Pronounce them.

distribute-distributing-distribution	deliver-delivering-delivery
process-processing	transport-transporting-transportation
produce-product-production	refine-refinery
locate-location	gather-gathering

Read the text “Pipeline System”; look at the diagram and pay attention to the underlined terms in the text.

Pipeline System

Fig. 1 Pipeline system

In the petroleum industry, pipelines are used for a variety of purposes:

1. gathering crude oil from individual leases and delivering it to a central location for processing;

2. transporting crude oil from fields to port terminals for tanker transportation;

3. moving crude oil from processing centers and supply points to the refineries and other markets;

4. moving gas from fields to gas processing plants and from these plants to markets;

5. distributing petroleum products from the refineries to the distribution centers.

Match the English terms (1-13) with the Russian ones (A-M).

1. gathering system	A. распределительная база
2. pump station	B. промышленный трубопровод
3. crude trunkline	C. портовая нефтебаза
4. crude tank farm	D. магистральный трубопровод
5. tanker	E. система нефтесбора
6.marine terminal	F. нефтехранилище
7. refinery	G. распределительная база
8. petrochemical plant	H.нефтехимический завод
9. product line	I. резервуарный парк \ нефтебаза
10. processing	J. танкер
11. distribution center	K. нефтеперерабатывающий завод
12. oil tankage	L. насосная станция
13. destination	M. переработка

Give an explanation to the following purposes of the pipeline system.

1) Gathering –

2) Transporting –

3) Moving –

4) Distributing –

5) Gathering system –

Example: Moving –gas progresses from the gas field to gas processing plants and from there to the market.

Look at the diagram of Russian pipeline gathering system.

Fig. 2 Pipeline system

Use the above-mentioned terms and give a short explanation to each element of the pipeline system. (Note the differences)

Lesson XI

Introduction to Economics and management

Lead-in

Why did you decide to become an economist?

In your opinion, what does an economist do?

Do you know any world famous economists?

Do you agree that all human activity is connected with economy?

Vocabulary

1) social sciences	- общественные науки
2) natural sciences	- естественные науки
3) attempts	- попытки
4) functioning (economic)	- функционирование
5) stock market	- фондовая биржа
6) exclusively	- единственно, исключительно, только
7) inflation	- инфляция
8) unemployment	- безработица
9) individual industry	- частная отрасль промышленности
10) individual behavior	- поведение индивида
11) consumer	- потребитель
12) output	- продукция; продукт, изделие
13) poverty	- бедность
14) wealthy	- богатый

Pay attention to the pronunciation of the following terms.

[ju:] consume, distribution

[ei] paid, speculation, scale, separate

[i] briefly, principle, issue, discipline

Pay attention to the stress in the following words. Pronounce them.

at´tempt	de´termine	in´flation
ex´clusively	´output	distri´butional

Read the text and fulfil the exercises.

WHAT DOES ECONOMICS STUDY?

Economics is a social science studying economy. Like the natural sciences and other social sciences, economics attempts to find laws and principles of economic functioning of society. Most students who take economics for the first time can hardly imagine the range of questions which this science studies. Some think that economics will teach them about the stock market, or what to do with their money. Others think that economics deals exclusively with problems like inflation and unemployment. In fact, it deals with all these subjects but they are parts of a much larger system.

First of all, there are two major divisions of economics: microeconomics and macroeconomics. Microeconomics deals with the functioning of individual industries and the behavior of individual economic decision making units: single business firms and households. Macroeconomics explores the decisions that individual businesses and consumers make. The choices of firms about what to produce and how much to charge and the choices of households about what to buy and how much of it to buy help to explain why the economy produces the things it does.

Another big question that microeconomics addresses is who gets the things that are produced. Wealthy households get more output than do poor households, and the forces that determine this distribution of output are outside the scope of microeconomics. Why do we have poverty? Who is poor? Why do some jobs pay more than others? Think about all the things we consume in a day on the scale of a town, a whole country. Somebody decided to build the factories. Somebody decided to construct roads, build the housing, produce the cars, knit the shirts, and smoke the bacon. Why? What is going on in all those buildings? It is easy to see that understanding individual micro decisions is very important to any understanding of your society. Macroeconomics, in its turn, deals with the functioning of national economic complex and the behavior of the main classes and social groups.