APPLIED FIELDS OF ECONOMICS
There is a basic theory and facts in economics, in which all economists are interested. However, economics has some main applied fields that deal with specific topics, such as industrial economics, agricultural economics, economics of energy, economics of education, labour economics, etc.

Industrial organization and structure are studied by industrial economics which also analyzes markets for manufactured goods as well as policies of various enterprises. The degree of concentration and barriers against new competitors in the market have already been analyzed by industrial economics for such important branches of economy as mining, gas, and oil industries, etc. The behaviour of firms and companies in an industry is influenced by the structure of the industry. Both profits and losses in any industry are affected by the behaviour of firms and companies engaged in the industry.

The economics of energy is known as another important field of applied economics closely connected with industrial economics. A lot of energy has been used by the modern economy in recent decades. Farms, factories, plants, transportation as well as families have greatly increased the consumption of various sources of energy since new modern equipment and technologies were introduced. In the past, wood and coal were used as the main sources of energy. Then, these sources were replaced by gas and oil in most industries. However, in the 1970s energy sources became scarce and there was a rise in energy prices. Since that time serious adjustments have been made by industrial economies in order to cope with the energy scarcity. For the last few decades the problems of energy economics have been discussed by specialists and governments in many countries. Regular meetings are held by the OPEC* formed in order to regulate oil prices.

Notes to the Text

* OPEC – Organization of Petroleum Exporting Countries – ОПЕК (Организация стран-экспортеров нефти)

Vocabulary

1. 
   applied – прикладной
   
2. 
   applied fields – прикладные области
   
3. 
   to deal (with) – иметь дело с
   
4. 
   as well as – так же как
   
5. 
   various – различный, разный
   
6. 
   enterprise – предприятие
   
7. 
   degree – степень, ступень
   
8. 
   to some degree – до некоторой степени
   
9. 
   competitor – конкурент, соперник
   
10. 
    competition – конкуренция, сорев- нование
    
11. 
    to compete (with smb for smth) – конкурировать (с кем-либо за что-либо)
    
12. 
    oil – нефть
    
13. 
    to influence smth/ smb – влиять, оказывать влияние (начто-либо/кого-либо)
    
14. 
    profit – прибыль, доход
    
15. 
    loss – потеря, убыток
    
16. 
    to engage – занимать; нанимать
    
17. 
    closely – близко, тесно
    
18. 
    recent – недавний, новый, свежий, современный
    
19. 
    consumption – потребление, расход
    
20. 
    source – источник
    
21. 
    to introduce – вводить, внедрять
    
22. 
    scarce – недостаточный, скудный
    
23. 
    scarcity – недостаток
    
24. 
    adjust – приспосабливать, подго- нять; регулировать
    
25. 
    to cope (with) – справляться (с)
    

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Упражнение 1.Выберите нужные словосочетания и вставьте их в предложения.

1. 
   New (внедренные методы) of education helped the students to understand the material better.
   
2. 
   Closely (связанные предприятия) have developed good relationships.
   
3. 
   The (вода, потребляемая) by this plant is taken from the Volga.
   
4. 
   The number of (инженеров, нанятых) by this company has increased two times.(Возросшая степень) of concentration in the industry causes less competition.
   
5. 
   (Достигнутый успех) was a result of the work of many scientists.
   
6. 
   (Требуемый жизненный уровень) was achieved in the country last year.
   
7. 
   (Товары, производимые) by this company are sold very quickly.
   
8. 
   (Заводы, обеспеченные) with the necessary resources get high profits.
   

increased degree; achieved progress; required living standard; the goodsproduced; plants provided; introduced methods; connected enterprises; waterconsumed;engineersemployed.

Упражнение 2.Вставьте слова и словосочетания в предложения. Переведите предложения.

1. 
   The economics of energy is ... with industrial economics.
   
2. 
   Labour economics ... such problems as employment, unemployment, education etc.
   
3. 
   Agricultural economics as one of the ... fields is very important for countries with a large agricultural sector.
   
4. 
   Governments in developing countries try ... the problem of economic dependence on developed countries.
   
5. 
   There is a great ... of qualified specialists such as teachers, doctors, mechanics in agricultural areas.
   
6. 
   The behaviour of a monopolist greatly ... the price for the industry's products.
   
7. 
   Sometimes government ... are necessary to protect domestic producers from foreign ... .
   
8. 
   There is a strong among large companies in the world market.
   
9. 
   The of price control is low in this country.
   
10. 
    Any manager studies the ... and ... of his company before he makes decisions about its work.
    
11. 
    There are manufacturing ... as well as agricultural in this area.
    
12. 
    … universities and laboratories have been invited by the government to work at this project. Now very many qualified specialists are in this work.
    
13. 
    The ... in of oil products has increased their price.
    
14. 
    A lot of new ... has been bought by the factory in years.
    

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a)competition;b) degree;c) profits,losses;d)enterprises,enterprises;

e)various,engaged;f)rise,consumption;g)equipment,recent;h)closelyconnected;i)dealswith;j)applied;k)tocopewith;l)scarcity;m)influences;

14. 
    adjustments,competitors.
    

Упражнение 3.Ответьте на следующие вопросы по тексту.

1. 
   What topics do applied fields in economics deal with?
   
2. 
   What does industrial economics study?
   
3. 
   What influences profits and losses in any industry?
   
4. 
   Why is economics of energy closely connected with industrial economics?
   
5. 
   What were the main sources of energy in the past?
   
6. 
   Why were adjustments made in most industries in the 1970s?
   
7. 
   How are prices for oil regulated now?
   

Упражнение4. Задать вопросы к выделенным словам.

1. 
   Resources of water are scarce in hot and dry areas.
   
2. 
   The introduction of new methods in company management has increased the productivity.
   
3. 
   Engineers have found some applied fields for this new material.
   
4. 
   Some imported goods are more competitive than goods produced in the country.
   
5. 
   Television in any country has some educative programmes.
   
6. 
   In order to adjust to new economic conditions the firm changed the prices for its goods.
   
7. 
   Such countries as Canada, Australia and most European countries belong to industrialized countries.
   
8. 
   The consumption of electricity by an average family has increased.
   

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