2) Translate Text b into Russian in writing. Use a dictionary if necessary.

Ex. 18 Read Text C and answer the questions below.

Notes to text:

Utility - полезность

Allocation - распределение

Reimburse - возмещать, компенсировать

Ultimate - основной

Scarce - зд. дефицитный

Transferable - переводный

Sound economic reasoning - разумное экономическое объяснение

Prudential judgments - благоразумная оценка

Aggregates - совокупные величины

Text C

Economics is a science that is concerned with the production, distribution, and consump­tion of goods and services. It is a science because it is an organized body of truth co­ordinated, arranged, and systematized with reference to certain general laws and prin­ciples.

Production is a process that brings about the creation or addition of utility. Several types of utility exist, including form, place, time, and possession utility.

Distribution as used in economics generally refers to the allocation of the total product or income among the factors of production. The factors of production are labor, land, capital, and entrepreneurship. They are reimbursed in the form of wages, rent, interest, and profits, respectively, for their contribution toward the total product. Several theories exist that seek to explain distribution.

Consumption is the utilization of a good or a service. It is the ultimate end of all economic activity. Wealth is our total collection of eco­nomic goods. An economic good is one that is material, useful, scarce, and transferable. Any activity that is useful, scarce, transferable, but not material is an economic service.

Goods can be classified as economic goods, free goods, and public goods. Economic goods may be divided into two groups, consumer goods and capital goods. Income is equivalent to the total goods and services produced over a given period.

Economics is related to other sciences, such as physics, psychology, sociology, political

science, and philosophy. Logic, a branch of philosophy, is essential for the development of sound economic reasoning. Prudential judg­ments frequently enter into the determination of economic goals and principles as well.

There is a distinction between economic theory and economic policy. The first deals with the rules and principles to be used under a given set of economic conditions. The latter deals with what we actually do under such conditions. Differences between the two fre­quently occur, since economic policy is often modified by political, social, and military policy. Economic problems and issues often can be presented in the form of a decision tree showing alternatives and choices. After proper analysis a prudential judgment can be made regarding alternative solutions.

The study of economics is divided into two broad areas: microeconomics, dealing with the actions of the individual, the firm, and the industry; and macroeconomics, dealing with aggregates, such as total production, employ­ment, and income.

1. What is the relationship between economic theory and economic policy?

2. Explain why there are frequently different opinions or judgments among economists on matters of economic policy.

Ex. 19 1) Find in Text C:

1. Definitions of economic terms;

2. Classifications;

3. An example of contrast;

4. What methods are used in economics studies.

2) Underline the topical sentences in each paragraph of Text C. Make up a

summary of Text C.

Ex. 20 Render Text D into English.

Text D

Экономика – специфическая сфера человеческой деятельности.

С момента возникновения общества человек стремился как можно полнее удовлетворить свои потребности. Для этого человечество вырабатывает специальные методы. На определенном этапе истории сформировался важный элемент человеческой цивилизации – экономика, которая является совокупностью форм и методов, создающих условия для выживания и прогресса человечества.

Экономика – это все виды деятельности людей, которые создают им материальные условия для жизни. Создав экономику, человечество сделало качественный шаг в своем развитии.

Экономика создает каркас цивилизации, поскольку она держит на себе все другие институты. Экономическая наука постоянно расширяет свое поле действий, проникая в другие области, в особенности – в социальные, гуманитарные науки. Наряду со своим традиционным объектом (производство, обращение, потребление товаров) экономические знания глубоко пронизывают всю социальную сферу, приложимы практически ко всем видам отношений – в семье, социальных группах, производственных коллективах, в обществе. Экономика тесно взаимодействует с философией, социологией, психологией, правом, историей, географией, информатикой, математикой, с рядом естественных наук.

Ex. 21 1) Read and translate the following example of business letter:

Names of parts of the letter: (1) Heading, sender’s address (2) Date (but could be after receiver’s address) (3) Receiver’s name & address (4) For a formal letter it is a good idea to put the topic of the letter as a heading (5) Start (when you know the name of the reader: Dear Mr./Mrs., when you don’t know the name of the reader: Dear Sir/Madam (6) Body of letter (7) End (when you know the name of the reader: Yours sincerely, when you don’t know the name of the reader: Yours faithfully (8) Signature (9) Name & title of sender (10) enclosure

Lux del Sol, Ltd. 11 Caballero de Gracia 0803 Barcelona, Spain Tel: [phone] Fax: 34 3 596 27 July 2008 Antony Benson Sales Manager Alabama Computers, Inc 27 Gate Road. Mobile 17G Alabama USA Request for a sample Dear Mr. Benson, Thank you very much for the catalogue you send us. The information it contained was quite interesting for us. Before making a decision of placing an order for a quantity we would be grateful if you could arrange for a sample to be sent to us as soon as possible. Please state what discount you allow for quantities. Yours sincerely Marcel Rodriguez Marcel Rodriguez Director-Procurement encl.: technical requirements