Vocabulary on the text

adjustment, n – регулирование, согласование; установка

aggregate, n – совокупность

aggregate, a – собранный вместе; общий

aggregate, v, – собирать в одно целое

application, n – заявление, прошение; употребление, применение

assist, v, – помогать, содействовать

asymmetric, a – асимметричный

avoid, v, – избегать, сторониться, уклоняться

competition, n – соревнование; конкуренция

deal with, v, – иметь дело, рассматривать вопрос

demand, n – спрос, требование

determine, v, – определять, устанавливать

economics, n – экономика (как наука)

emblematic, a – символический

evaluation, n – оценка; определение качества, количества и т.п.

fail, v, – потерпеть неудачу; провалиться; не удаваться

failure, n – неуспех, неудача

fluctuation, n – колебание, неустойчивость

focus, n – центр, средоточие

forecast, n – предсказание, прогноз

goal, n – цель, задача

income, n – доход

issue, n – выпуск, издание; pl – доходы

issue, v, – выходить, выпускать, издавать

previous, a – предыдущий, предшествующий

produce, v, – производить, создавать

production, n – 1) производство; 2) продукция

productive, a – производительный

provide, v, – 1) предоставлять, давать; 2) снабжать, обеспечивать

provision, n – снабжение, обеспечение

scarce, a – недостаточный, скудный, редкий, редко встречающийся

seek, v, – искать; добиваться

service, n – 1) обслуживание, сервис; 2) услуга

significant, a – значительный, существенный

societal, a – общественный

society, n – общество

study, n – изучение, исследование

study, v, – изучать, исследовать

succeed, v, – достигать цели, преуспевать, иметь успех

supply, n – предложение, снабжение, поставка, запас

uncertainty, n – неуверенность, сомнение, неопределенность

Phonetic and lexical exercises

1. Classify the words according to the type of their reading.

Wake, use, that, this, large, make, add, there, these, sum, no, what, firm, long, try, sold, for, price, among, game, system, hand, turn, much, upon, trend, trade, role, short, shock.

2. Read the following international words and a) define their part of speech; b) guess their meanings.

Analyze, individual, depression, emblematic, stability, mechanism, international, basic, alternative, elasticity, effect, assist, focus, national, asymmetric, division, critique, contrast, total, inflation, model, shock, cycle, fundamental, condition, goal, stabilize.

3. Form the derivatives from words given below and fill in the table.

Define, effect, vary, relative (2), develop, societal, performance, determinant (2), definition, perform, various, relation, primary, indefinite, efficient, variety, society, development, variable (2), determine, social, effective, primarily.

Verb	Noun	Adjective	Adverb

Grammar exercises

4. Study §4.2 in Essential Grammar.

5. Find the infinitives in the sentences and state their functions. Translate the sentences into Russian.

1. The goal of microeconomics is to analyze marketmechanisms.

2. There are three fundamental choices to be made.

3. Economics is the study of how individuals and societies choose to use the resources.

4. Microeconomics analyzes market failure, where markets fail to produce efficient results.

5. Microeconomics studies how individuals, households, and firms make decisions to allocate limited resources.

6. Macroeconomists study and seek to understand the determinants of aggregate trends in the economy.

7. One of the two areas of research in macroeconomics is the attempt to understand the causes and consequences of short-run fluctuations in national income.

8. In order to try to avoid major economic shocks, governments make adjustments through policy changes.

9. Macroeconomic models and their forecasts are used by both governments and large corporations to assist in the development and evaluation of economic policy and business strategy.

10. Governments believe that the success of these adjustments will help maintain stability and continue growth.