диостанции. Мне всегда нравилась рок-музыка. У меня своя программа на радио.

Exercise 5. Tell about yourself using the vocabulary from the lesson. The questions below will help you.

1.What is your name?

2.How old are you?

3.Where are you from?

4.Where do you study?

5.What do you parents do?

6.Do you have any brothers or sisters?

7.Do you like sports?

8.Do you live with your parents or rent a flat?

9.Do you live in a student dormitory?

10.Who is your favourite actor or actress?

11.What is your favourite food?

12.Do you like to cook?

13.Do you like to dance?

14.What do you do in your spare time?

Text B. What is Economics?

Economics is a social science studying production, distribution, exchange, and consumption of goods and services. Economists focus on the way in which individuals, groups, business enterprises, and governments try to achieve efficiently any economic objective they select. Other fields of study also try to do that. Psychology and ethics try to explain how objectives are formed; history records changes in human objectives; sociology interprets human behaviour in social conTexts.

Standard economics can be divided into two major fields. The first, microeconomics, explains how supply and demand in competitive markets create prices, wage rates, profit margins, and rental changes. Microeconomics assumes that people behave rationally. Consumers try to spend their income in ways that give them as much pleasure as possible.

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As economists say, they maximize utility. For their part, entrepreneurs seek as much profit as they can extract from their operations.

The second field, macroeconomics, deals with modern explanations of national income and employment. Macroeconomics dates from the book, The General Theory of Employment, Interest, and Money (1935), by the British economist John Maynard Keynes. His explanation of prosperity and depression is based on the total or aggregate demand for goods and services by consumers, business investors, and governments.

	VOCABULARY
production	— производство
distribution	— распределение
consumption	— потребление
individuals	— зд. люди
business enterprises	— коммерческие предприятия
efficiently	— эффективно
objective	— цель
psychology	— психология
ethics	— этика
to record	— записывать, регистрировать
fields	— отрасли
supply	— предложение
demand	— спрос
competitive markets	— конкурентные рынки
wage rates	— ставки заработной платы
profit margin	— размер прибыли
to assume	— предполагать
income	— доход
to maximize	— максимизировать
utility	— полезность
entrepreneurs	— предприниматели
to seek	— искать, изыскивать
profit	— прибыль
to extract	— извлекать
employment	— занятость
prosperity	— процветание
aggregate demand	— совокупный спрос
consumers	— потребители

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Questions to the Text

1.What does economics study?

2.What do economists focus on?

3.What other fields of study focus on the same problems as

economics?

4.What does psychology try to explain?

5.What does sociology interpret?

6.What are the two major fields in economics?

7.What does microeconomics explain?

8.What does microeconomics assume?

9.What do entrepreneurs seek?

10.What does macroeconomics deal with?

11.What, according to the Text, was the beginning of the macroeconomics?

12.What did John Maynard Keynes explain in his book?

Exercise 6. Translate into Russian.

1.Economics is a social science.

2.Economics studies production, distribution, exchange and consumption of goods and services.

3.Economics focuses on the ways different groups try to achieve economic objectives.

4.Sociology interprets human behaviour in social conTexts.

5.There are two fields in standard economics.

6.Consumers try to spend their income in different ways.

7.Consumers want to receive as much pleasure as possible.

8.Businesses seek as much profit as they can extract.

9.Microeconomics assumes that people behave rationally.

10.Macroeconomics deals with national income and employment.

11.Keynes wrote The General Theory of Employment, Interest, and Money in 1935.

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Exercise 7. Write sentences with the following words:

1.social science;

2.goods and services;

3.to focus on;

4.individuals, groups and businesses;

5.efficiently;

6.objective;

7.field of study;

8.to interpret human behaviour;

9.supply;

10.demand;

11.competitive markets;

12.to assume;

13.to maximize utility;

14.profit;

15.employment;

16.prosperity.

Exercise 8. Translate into English.

1.Экономика — это социальная наука, которая изучает производство, распределение, обмен и потребление товаров и услуг.

2.Другие социальные науки тоже пытаются изучать поведение людей, фирм и правительства.

3.Фирмы пытюгся эффективно выполнять поставленные за-

дачи.

4.Социологи пытаются интерпретировать поведение людей

вобществе.

5.Экономику делят на две большие отрасли: микроэкономику и макроэкономику.

6.Микроэкономика предполагает, что люди действуют ра-

ционально.

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