Comprehension

Ex. 1. Expand the sentences.

1. Economists study the ways in which individuals and society choose to use … .

2. They are concerned with … .

3. About half of them are academic economists who … .

4. The other half of the profession work for … .

5. Government economists forecast … .

6. Business economists work for … .

7. Rather than to take low-wage, big-industry job, people opt to … .

8. An individual hoping to start up a new company needs to have … .

9. Entrepreneurship is regarded to be … .

Ex. 2. Answer the questions.

1. What do economists study?

2. What job settings are economists employed in?

3. What are the spheres of activities of:

1. academic economists?

2. government economists?

3. business economists?

4. How do entrepreneurs differ from above mentioned economists?

5. What is a driving force in entrepreneurship?

6. What is the percentage of growth for men and women entering into business independence?

Ex. 3. Re-order the sentences to make a paragraph with a logical sequence.

1. The entrepreneur has no guarantee that this new business venture will be successful, and often invests his or her own savings in the business, meaning that the entrepreneur needs to be a risk taker.

2. The entrepreneur’s flair or talent ensures that the business becomes successful.

3. An entrepreneur begins with an idea and the forms of a new business.

4. The new organization begins producing goods or services.

Text 2

While reading the passage pay attention to the description of degrees in economics.

Degrees in Economics

The amount of training required to become an economist in most countries abroad depends on the type of employment that a potential economist is seeking for.

Most students studying at the university for the first time take a degree, called a first degree. They are undergraduate students. This degree is called Bachelor of Art (B.A.) or Bachelor of Science (B.S.) The B.A. in Economics requires different courses.

Below you can see a choice of subjects offered by the University of South Florida.

Basic Courses

Economic Principles Introduction to Macroeconomics Intermediate Price Theory Intermediate Income and Monetary Analysis History of Economic Thought Management Statistics for Economics and Business Employment Laws

Principles of Management Personnel Management Small Business Management Principles of Accounting Ethical Issues in Business Business Administration Introduction to Mathematical Economics

Supporting Courses

International Economics	Organizational Behavior Analysis
Comparative Economic Systems	Communication and Information Theory
Monetary Theory	Quantitative Methods in Business
Labor Economics	International Business
Public Finance	Industrial Psychology

A bachelor’s degree (four years of college) with a major in economics is sufficient for many entry-level management positions.

However, most job openings for economists require advanced training. Those college graduates who wish to seek higher level jobs usually enrol in graduate school and obtain either a master's degree or a doctorate in economics. A master's degree requires approximately one year of advanced training, and a doctorate usually requires at least four. Economists must have a thorough understanding of economic theory, mathematical methods of economic analysis, and basic statistical procedures. In addition, training in computer science is becoming increasingly important. The M.A. studies in economics prepare students for careers as professional economists in business and government. It is also excellent preparation for continued graduate study in economics.

Requirements: strong motivation, aptitude and basic intellectual ability are needed for success in graduate study in economics.

Program requirements: all students are required to take courses in advanced economic theory and economics. Students preparing for professional carriers choose additional applied courses in industrial organization, international economics, natural and human resources, and urban and public economics.

Students preparing for doctoral studies select from these and additional courses in economic theory, mathematics, and quantitative methods.

Students must satisfy all University requirements for the M.A. degree. Courses should be selected with the approval of graduate advisor.

Required courses:

• microeconomics: microeconomic behavior of consumers, producers, and resource suppliers; price determination in output and factor markets; general market equilibrium.

• aggregate economics: advanced microeconomics analysis of income; employment; prices; interest rates and economic growth rates.

• econometrics 1

• econometrics 2.

The Master of Business Administration Degree (M.B.A.) is a professional degree designed to prepare graduates for managerial roles in business and non-profit organizations. Graduates will develop the necessary skills and problem-solving techniques that will permit them to make an early contribution to management and eventually to move into broad, general management responsibilities at the executive level. You can get this degree abroad and in Belarus as well: at the International Graduate School of Business and Management of Technology (BSU). It offers a program for managers with business background. The aim of this program is to provide theoretical and practical knowledge in general management and prepare high-level managers. The period of education is two years. Classes are conducted at very convenient evening time. The language of classes is English or Russian.