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Lilia Raitskaya Stuart Cochrane
macmillaMII
MACMILLAN
Student's Book
^Contents
Unit 1
Before you read 13
What does economics study? 14
What are 14
microeconomics and macroeconomics ? 14
Before you listen 17
Before you read 18
History of economic thought 19
Before you listen 22
Before you read 23
Econometrics 24
Before you listen 25
Before you read 26
The law of demand 26
Before you listen 27
Unit 32
Before you read 32
The traditional economy 32
Before you listen 33
Before you read 35
The market economy 35
Before you listen 36
The planned economy 38
Before you listen 43
Before you read 44
Before you listen 47
Revision Vocabulary Units 1 to 4 49
Before you read 51
Consumer choices 53
Before you listen 63
Before you read 65
Costs and supply 65
Before you listen 66
Unit 68
Before you read 68
Market structure and competition 68
Before you listen 69
Before you read 70
Monopolies 70
Unit 75
Before you read 75
The labour market 75
Before you listen 76
Before you read 77
Supply of labour 77
Before you listen 79
44Unit 81
45Before you read 81
70Factors of production 81
85Before you listen 83
Before you read 84
Division of labour 84
Before you listen 85
Revision Vocabulary Units 5 to 8 88
Before you read 88
Surplus 89
Before you listen 90
Before you read 92
Price discrimination 92
Before you listen 93
Welfare economics 95
Before you listen 96
Before you read 97
Government revenue and spending 97
Before you listen 98
Before you read 100
Wealth, income and inequality 101
Before you listen 103
Before you read 104
Poverty 105
Before you listen 109
Macroeconomics 112
Before you listen 113
Before you read 114
ф D Vocabulary 114
Aggregate demand and aggregate supply 114
BP E Comprehension 116
Before you listen 116
0 F Listening *))) 116
ff G Speaking 117
Task 117
Revision Vocabulary Units 9 to 12 119
Unit 120
Before you read 120
Money 120
^ В Comprehension 121
Before you listen 121
В с Listening Ц))) 121
Before you read 121
0 D Vocabulary 122
Banks 133
В E Comprehension 134
Before you listen 134
F Listening Ц))) 134
G Speaking 135
Unit 136
Before you read 136
ff A Vocabulary 136
Fiscal policy 136
P В Comprehension 137
Before you listen 137
С Listening 4))) 137
Before you read 138
0 D Vocabulary 138
Monetary policy 138
Before you listen 141
rehension 141
Before you read 144
A Vocabulary 144
Interest rates and the money market 144
В Comprehension 145
С Listening H))) 146
Before you read 147
fiJ D Vocabulary 147
Economic shocks 147
Before you listen 150
G Speaking 151
Before you read 152
fif A Vocabulary 152
Inflation 152
Before you listen 154
Before you read 156
ff D Vocabulary 156
Unemployment 156
Before you listen 157
F Listening H))) 157
E Comprehension 157
G Speaking 157
9 H Writing 158
Revision Vocabulary Units 13 to 16 159
Unit 160
Before you read 160
Economic growth 161
9 В Comprehension 163
Before you listen 163
ff С Listening Ц))) 164
Before you read 164
ff D Vocabulary 164
The business cycle 165
fi? E Comprehension 166
Before you listen 166
F Listening И))) 167
H Writing 167
Before you read 168
f A Vocabulary 168
The open economy 168
? В Comprehension 169
Before you listen 170
С Listening 4))) 171
Before you read 171
BP D Vocabulary 171
Exchange rates 172
0 E Comprehension 174
Before you listen 174
F Listening H))) 175
G Speaking 176
Task 176
Before you read 177
A Vocabulary 177
Exchange rate mechanisms 177
й В Comprehension 178
Before you listen 178
0 С Listening 4))) 178
Before you read 179
9 D Vocabulary 179
International trade 179
Before you listen 180
В F Listening 4))) 180
G Speaking 181
Task 181
Unit 182
Before you read 182
В A Vocabulary 182
Less developed countries 183
в В Comprehension 184
Before you listen 184
0 С Listening *))) 184
Before you read 184
В D Vocabulary 184
The Russian economy in the 19th century 185
fij E Comprehension 186
Before you listen 186
F Listening 4))) 186
Task 188
H Writing 188
A Vocabulary 188
в? В Comprehension 190
Before you listen 190
0 С Listening 4))) 190
Before you read 190
ff D Vocabulary 190
Russia's foreign trade 191
9 E Comprehension 192
Before you listen 192
Revision Vocabulary Units 17 to 21 194
Aggregate demand and aggregate supply.. 63
2 М л i m . 11 a '» G u ' d w tc E(ctomKt Сонеч'л
Дорогие друзья!
Представляем Вам учебно-методический комплект (УМК) «Macmillan Guide to Economics», цель которого - помочь Вам приобрести навыки владения английским языком в области экономики и познакомить Вас с основополагающими темами экономической теории.
Из курса Вы узнаете, что изучают экономическая теория и эконометрика, в чём разница между микроэкономикой и макроэкономикой, какие экономические системы существуют в современном мире, как функционирует рынок и какую роль на нём играют спрос и предложение, какими особенностями обладает рынок труда, какие факторы производства используются в экономике, а также о монополии, общественных благах, экономике благосостояния, экономической политике государства, деньгах, инфляции и банках, процентных ставках и финансовых рынках, циклах деловой активности и многом другом.
Материал курса изложен в увлекательной форме, хорошим и доступным языком.
Книга для учащихся имеет чёткую организационную структуру, она состоит из двадцати одного урока, каждый из которых включает в себя два тематических текста, сопровождаемых аудиозаписями, активной лексикой, вопросами но теме урока, упражнениями и заданиями.
В курсе предусмотрены упражнения на развитие основных видов речевой деятельности - чтения, письма, аудирования и говорения. При этом форма отдельных упражнений меняется из урока в урок для того, чтобы избежать монотонности в обучении. Особого внимания заслуживают творческие задания на развитие навыков письменной речи. Освоив материал курса, Вы научитесь писать письма, статьи, эссе, сочинения, составлять доклады, отчёты, рекламные проспекты.
Данный курс - хорошая база для дальнейшего изучения английского языка в области экономики (английский для специальных целей - English for Specific Purposes (ESP).
«Macmillan Guide To Economics» может быть использован как на аудиторных занятиях, в группах и при индивидуальном обучении, так и при самостоятельном изучении материала.
Мы желаем Вам больших успехов в изучении английского языка, а также в освоении актуальной экономической тематики, необходимой профессионалам во многих областях деятельности.
J1.K. Раицкая Stuart Cochrane
Macmillan Guide to Economics Introdactton 3
Before you read
Discuss the following with your partner.
Do yo i know much about economics?
■+ Tick wluch of these statements you think are true.
-» Then explain to your partner why.
Before you read 13
What does economics study? 17
What are 18
microeconomics and macroeconomics ? 18
Before you listen 20
Before you read 22
History of economic thought 23
Before you listen 26
Before you read 27
Econometrics 28
Before you listen 29
Before you read 30
The law of demand 30
Before you listen 31
Unit 36
Before you read 36
The traditional economy 36
Before you listen 37
Before you read 39
The market economy 39
Before you listen 40
The planned economy 42
Before you listen 47
Before you read 48
Before you listen 51
Revision Vocabulary Units 1 to 4 53
Before you read 55
Consumer choices 57
Before you listen 67
Before you read 69
Costs and supply 69
Before you listen 70
Unit 72
Before you read 72
Market structure and competition 72
Before you listen 73
Before you read 74
Monopolies 74
Unit 79
Before you read 79
The labour market 79
Before you listen 80
Before you read 81
Supply of labour 81
Before you listen 83
44Unit 85
45Before you read 85
70Factors of production 85
85Before you listen 87
Before you read 88
Division of labour 88
Before you listen 89
Revision Vocabulary Units 5 to 8 92
Before you read 92
Surplus 93
Before you listen 94
Before you read 96
Price discrimination 96
Before you listen 97
Welfare economics 99
Before you listen 100
Before you read 101
Government revenue and spending 101
Before you listen 102
Before you read 104
Wealth, income and inequality 105
Before you listen 107
Before you read 108
Poverty 109
Before you listen 113
Macroeconomics 116
Before you listen 117
Before you read 118
ф D Vocabulary 118
Aggregate demand and aggregate supply 118
BP E Comprehension 120
Before you listen 120
0 F Listening *))) 120
ff G Speaking 121
Task 121
Revision Vocabulary Units 9 to 12 123
Unit 124
Before you read 124
Money 124
^ В Comprehension 125
Before you listen 125
В с Listening Ц))) 125
Before you read 125
0 D Vocabulary 126
Banks 141
В E Comprehension 142
Before you listen 142
F Listening Ц))) 142
G Speaking 143
Unit 144
Before you read 144
ff A Vocabulary 144
Fiscal policy 144
P В Comprehension 145
Before you listen 145
С Listening 4))) 145
Before you read 146
0 D Vocabulary 146
Monetary policy 146
Before you listen 149
rehension 149
Before you read 152
A Vocabulary 152
Interest rates and the money market 152
В Comprehension 153
С Listening H))) 154
Before you read 155
fiJ D Vocabulary 155
Economic shocks 155
Before you listen 158
G Speaking 159
Before you read 160
fif A Vocabulary 160
Inflation 160
Before you listen 162
Before you read 164
ff D Vocabulary 164
Unemployment 164
Before you listen 165
F Listening H))) 165
E Comprehension 165
G Speaking 165
9 H Writing 166
Revision Vocabulary Units 13 to 16 167
Unit 168
Before you read 168
Economic growth 169
9 В Comprehension 171
Before you listen 171
ff С Listening Ц))) 172
Before you read 172
ff D Vocabulary 172
The business cycle 173
fi? E Comprehension 174
Before you listen 174
F Listening И))) 175
H Writing 175
Before you read 176
f A Vocabulary 176
The open economy 176
? В Comprehension 177
Before you listen 178
С Listening 4))) 179
Before you read 179
BP D Vocabulary 179
Exchange rates 180
0 E Comprehension 182
Before you listen 182
F Listening H))) 183
G Speaking 184
Task 184
Before you read 185
A Vocabulary 185
Exchange rate mechanisms 185
й В Comprehension 186
Before you listen 186
0 С Listening 4))) 186
Before you read 187
9 D Vocabulary 187
International trade 187
Before you listen 188
В F Listening 4))) 188
G Speaking 189
Task 189
Unit 190
Before you read 190
В A Vocabulary 190
Less developed countries 191
в В Comprehension 192
Before you listen 192
0 С Listening *))) 192
Before you read 192
В D Vocabulary 192
The Russian economy in the 19th century 193
fij E Comprehension 194
Before you listen 194
F Listening 4))) 194
Task 196
H Writing 196
A Vocabulary 196
в? В Comprehension 198
Before you listen 198
0 С Listening 4))) 198
Before you read 198
ff D Vocabulary 198
Russia's foreign trade 199
9 E Comprehension 200
Before you listen 200
Revision Vocabulary Units 17 to 21 202
\ the people who control a country and make laws
information
company that sells goods or services
easiness
the amount of money you have for something
how much people want something
the number of people without work
something such as money, workers or minerals belonging to an organisation, country, etc which can be used to function properly
rising prices
A
Vocabulary
Match
the words with the. definitions.
budget
business
convenience
4
data demand
government
inflation
resources
trade-off
unemployment
H Reading 1
What does economics study?
What do you think ot when you hear the word
ниtniU's'r Money, certainly, ami perhaps more complicated things like business, inllation ami unemployment. The science of economies studies all of these, but many more tilings as well Perhaps you think that economies is all about the decisions that governments ami business managers take. In l'aet. economists study the decisions that we all take every day
Very simply, economics studies the way people deal with a tact ot life: resources are limited, but our di main! tor them certainly is not. Resources may be material things such as food, housing and heating There are some resources, though, that we cannot touch. Time, space and convenience, lor example, an also resources. Think ot a day Then, are only Л hours in one. and we have to choose the best way to spend them. Our everyday
4 Hi., Hi Guid» to Economic» Utit I
lives are full of decisions like these. Every decision we make is a trade-off.If you spend more time working, you make more money. However, you will have less time to relax. Economists study the trade-offs people make. They study the reasons for their decisions. They look at the effects those decisions have on our lives and our society.
What are
microeconomics and macroeconomics ?
Economists talk about microeconomicsand macroeconomics. Microeconomics deals with people, like you and me, and private businesses. It looks at the economic decisions people make every day. It examines how families manage their household budgets. Microeconomics also deals with companies - small or large - and how they run their business. Macroeconomics, on the other hand, looks at the economy of a country - and of the whole world. Any economist will tell you, though, that microeconomics and macroeconomics are closely related. All of our daily microeconomie decisions have an effect on the wider world around us.
Another way to look at the science of economics is to ask, 'what's it good for?' Economists don't all agree on the answer to this question. Some practise positiveeconomics. They study economic data and try7to explain the behaviour of the economy. They also try to guess economic changes before they happen. Others practisenormativeeconomies. They suggest how to improve the economy. Positive economists say, 'this is how it is'. Normative economists say, 4ve should ...
So what do economists do? Mainly, they do three things: collect data, create economic models and formulate theories. Data collection can include facts and figures about almost anything, from birth rates to coffee production. Economic models show relationships between these different data. For example, the relationship between the money people earn and unemployment. From this information, economists try to make theories which explain why the economy works the way it does.
В В Comprehension
Now read the text again and match each paragraph with the correct heading.
PARAGRAPH 1
PARAGRAPH 2
PARAGRAPH 3
PARAGRAPH 4
PARAGRAPH 5
A How economists work В Making deals every day С Various ideas about economics D Two areas of economics E Two types of economist
Before you listen
Discuss these questions with your partner.
If you live in a modern economy, life is quite easy.
Before the Industrial Revolution, life was much harder.
□ □ □ □ □ □
И С Listening И))]
Listen to someone talking about life before the Industrial Revolution.Which of these things are mentioned?
length of life
housing
illnesses
work
food
having children
М а с m i 11 a n Guide to
Economics Unic I
5
life expectancy A about 250
number of children who died
before they reached five years old В 1 in 10
5 number of women who died when they were giving birth С 25
4years since the Industrial Revolution D 1 in 3
Before you read
Discuss these questions with your partner.
Do you have any idea where the word economicscomes from?
Do you know the names of any famous economists from the past or anything about their ideas?
P D Vocabulary
Complete each sentence with a word or phrase from the box.
abundance concept consumer firm Industrial Revolution population precious metals production process profit raw materials satisfaction scarcity
The began in the late 18th century
when machines at ax ted to replace human workers.