Лексический материал (part 2)
1. Выучите следующие слова
array – массив, множество
shift – движение, сдвиг, перемена
entire – целый
to augment – увеличивать
volume – объем, количество
to substitute – заменять
substitute – заменитель
complement – дополнитель
inferior goods – низшие блага, товары низкого качества
amount – количество
inflationary – инфляционный
to affect – влиять
storable commodities – товары длительного хранения
self-fulfilling – самовыполняющийся
to fluctuate – колебаться
stock demand – биржевой спрос
flow demand – текущий спрос
2. Find equivalents in Russian and write two sentences with each
a) array of prices;
b) increase in demand;
c) a fall in the prices of complements;
d) price expectation;
e) current demand;
f) replacement demand;
g) flow demand.
Текст B
1. Прочитайте и переведите текст
CHANGES IN CONSUMER DEMAND
Increases or decreases in demand are changes in the quantities that would be bought at any of the possible array of prices. Changes in demand are shifts or movements of the entire demand curve. A shift to the right means an increase in demand. It can come from any one or a combination of the following: a change in consumer desire or taste, sometimes augmented by volumes of advertising; a rise in consumers income; a rise in the prices of substitutes; or a fall in the prices of complements. Of course, opposite changes in these factors cause a decrease in demand, i.e. a leftward shift of the entire demand curve. An exception here applies to inferior goods, which are defined as those goods and services bought in smaller amounts as consumer incomes rise.
In an uncertain economy, especially an inflationary one, price expectation can affect demand. For storable commodities, when consumers believe that expected future prices will be higher, buyers tend to increase their current demand and thus tend to make their expectations self-fulfilling.
The demands for durable goods can fluctuate widely over time, as consumers' incomes vary. A durable good has both a stock demand and a flow demand. The stock demand is for the amount that consumers want to hold over a period of years.
The flow demand in a given year consists of replacement demand, i.e., for purchases to maintain the stock at some level, and of expansion demand, i.e., for purchases to increase the stock.
Материал для обсуждения
1. Answer the following questions for general understanding
l) What are increases or decreases in demand?
2) What does the shift to the right of the demand curve mean?
3) What are possible causes of the process?
4) What does the shift to the left of the demand curve mean?
5) Are there exceptions to the general rule?
6) How does price expectation affect demand?
7) What is said about demand fluctuations?
2. Translate into Russian
1) Changes in demand are shifts or movements of the entire demand curve.
2) Inferior goods are those goods and services bought in smaller amounts as consumer incomes rise.
3) In an uncertain economy, especially an inflationary one, price expectation can affect demand.
4) The stock demand is for the amount that consumers want to hold over a period of years.
3. Explain the difference between the following words. Write one sentence with each to illustrate the lexical meaning
a) able – willing;
b) to occur – to happen;
c) affect – effect;
d) dependent – interdependent;
e) exceed – precede.
4. The following table shows how words are formed around the verb to produce
| e | r | ||
| produc | |||
| t | iv(e) | ity | |
| ion |
5. Fill the gaps with the words
a) The publishing house's new is a color daily newspaper.
b) The plant a new model of car every spring.
c) The of this worker has gone down over the last 5 years.
d) 486 computer is not as Pentium III.
e) The of computers make huge investments in their industries.
f) The Board of Governours of State of New York has come to a decision to decrease the of cheap products.
6. Explain the difference and write one sentence with each
a) affect – effect;
b) relate – relative – relations.
7. Discuss the following question
1) What products could be referred to as inferior?
2) Do you think that the tern inferior goods could be applied to the products of some countries, i.e. China, Turkey, e.t.c
3) Do you think that it has become traditional in Russia to have a stock of such storable commodities as salt, sugar, soap and matches?
Лексический материал (part 3)
1. Выучите следующие слова
aggregate supply – совокупное предложение
complex – сложный, комплексный
forthcoming – предстоящий, ожидаемый
opportunity costs – альтернативные издержки
accountant – бухгалтер
explicit – явный, откровенный
implicit – подразумевающийся
to calculate – подсчитывать, вычислять, рассчитывать
to for(e)go – поступаться
to convert – обращать, преобразовывать
shape – форма
given moment – данный момент
sufficiently – достаточно, в достаточной мере
to permit – позволять, разрешать
variable – переменный, изменчивый;
variable – переменная
rightward movement – движение вправо
conversely – наоборот
bountiful crops – обильный урожай
Текст C
1. Прочитайте и переведите текст
LAW OF SUPPLY
Supply is a fundamental concept in both macro-and microeconomic analysis. In macroeconomic theory, aggregate supply is mainly a function of expected sales to consumers, businesses, and governments. In micro analysis supply is mainly a
function of prices and costs of production. A more complex view of the supply curve for a commodity is its relation between quantities forthcoming and the possible current prices of that commodity, its expected future prices, the prices of alternative goods and services, the costs of the producer, and time.
Opportunity Costs
Incorporated in the supply curve of goods and services are opportunity costs. Economists differ from accountants and from the Internal Revenue Service by including both explicit and implicit costs, or opportunity costs. Implicit costs are mainly business costs for wages, rents, and interest, whereas opportunity costs are the alternative costs of doing something else. A sole proprietor or the owners of businesses should calculate what they forgo in wages, rents, and interest by not working for someone else, or by renting the property they use to others, or by the possibility of converting plant and equipment to alternative investment projects.
The Shape and Position of Supply Curves
In competitive markets the shape, or elasticity of supply, reflects time in the production process, such as the immediate or market period, the short run, and the long run. Elasticity of supply is the relative change in price that induces a relative change in quantity supplied. The supply curve is a line on a diagram where the vertical axis measures price and the horizontal axis is quantity. Usually the coefficient of elasticity is positive, meaning that a rise in price induces an increase in the quantity supplied. In the immediate or market period, a given moment, time is defined as too short to allow for a change in output. The supply curve is vertical, and the coefficient of elasticity is zero.
The short run is defined as a period sufficiently long to permit the producer to increase variable inputs, usually labor and materials, but not long enough to permit changes in plant and equipment. The supply curve in the short run is less inelastic or more elastic than in the immediate period. The long run permits sufficient time for the-producer to increase plant and equipment. The longer the time, the greater the elasticity of supply.
Changes in supply are shifts in the position of supply curves. An increase in supply is a rightward movement of a supply curve, with more of the commodity being offered for sale at each possible price. Conversely, a decrease in supply shifts the supply to the left. An increase in supply can occur because sellers expect lower prices in the future, or, as in the agricultural sector, because of bountiful crops. The reverse is true of a decrease in supply. Over periods of time long enough for production processes to change, improvements in technology and changes in input prices and productivities are the main causes of changes in supply.
Материал для обсуждения
1. Answer the following questions for general understanding
l) What is the difference of the concept of supply in macro- and microeconomics?
2) What are opportunity costs?
3) What are implicit costs?
4) What, according to the text, a sole proprietor or the owners should do?
5) What does the elasticity of supply show?
6) What is the difference between the short-time and long-time supply?
7) Why do changes in the supply affect the position of the supply curve?
2. Read each statement given and decide which of the following is not true
1. Supply is a concept of macroeconomics.
2. Economists differ from bookkeepers and tax gatherers because they include also opportunity costs.
3. The shape of the supply curve privedes specialist with the information on elasticity of supply and the reflection of the shareholder.
4. The supply curve is a line on a diagram where the vertical axis measures price and the horizontal axis is quantity.
5. Bountiful crops is a cause of increase in supply.
6. Improvements in technology and changes in input prices and productivities are the main causes of the changes in elastic demand.
3. Find equivalents in Russian
a) fundamental concept;
b) current prices;
c) business costs for wages;
d) sole proprietor;
e) alternative investment projects;
f) coefficient of elasticity;
g) a decrease in supply;
h) improvements in technology.
4. Find antonyms for the following words. Write one sentence with each
a) expected;
b) complex;
с) possible;
d) future;
e) competitive.
5. Find the synonyms of the following
a) accountant;
b) calculate;
c) permit;
d) expect;
e) complex;
f) opportunity;
g) businessman.
6. Define the following terms in English
a) aggregate supply;
b) opportunity costs;
c) sole proprietor;
d) elasticity of supply;
e) coefficient of elasticity.
7. Discuss the following questions
l) How do you understand the sentence:«Economists differ from accountants and from the Internal Revenue Service»?
2) In what sphere can a person with the economic education work?
3) What is a better paid job for economist: applied economics or theoretical research? Give examples to support your opinion.
8. Подготовьте устное изложение по теме «Demand and Supply».
UNIT 4 «Competition, Monopoly and Oligopoly»
Информация 1. Некоторые виды чтения текста
а) Skimming (просмотр с целью найти определенную информацию или понять текст в целом) means reading a text without attention to details in order to get an overview of the organization of the text and its main ideas. This will include attention to title, headings, introduction and conclusion, as well as the beginnings and ends of paragraphs. Skimming the text is an excellent pre- reading habit. When you do a close reading of the text after skimming it, you will find that you read more fluently and accurately.
b) Scanning (вид быстрого чтения с целью понять основную идею и улоаить суть) involves looking quickly through a text to find a specific word or piece of information. There are often times when it is necessary to do this, such as when studying for a test or writing a paper, so it is a useful skill to practice.
c) Intensive reading ( интенсивное чтение ) is reading at a lower speed which may involve reading all or part of the text. The reader pays more attention to details and seeks more through understanding.
d) Extensive reading ( выразительное чтение) is reading in quantity to gain a general understanding of what is read, is intended to develop good reading habits, to enable students to acquire vocabulary and structures and to develop pleasure in reading.
Информация 2. Способы анализа текста
а) Summarizing
Being able to write a summary is an important skill. It shows that you have understood what is most important in a text. A summary is different from a paraphrase. When you paraphrase, you look at a small part of the text and rewrite it in your own words. When you summarize, you look at a whole text and reduce it to a few sentences (still using your own words, not the author's). The first sentence of a summary should express the overall message of the text. The remaining sentences should present the most important ideas in the text. A good summary need not include details or supporting evidence for the main ideas.
b) Précis
The précis is a condensation of the original (usually 1/4 to 1/3 of the length), retaining, for the most part, the author's style, tone, point of view, and, very frequently, his words. What the student eliminates are the illustrations, the detailed explanations, and lengthy speculations.
Important Steps for Précis Writing
1. Read the text; as you read, note the topic dealt with in each paragraph, underline the topic sentence, key words, and important facts as you go along.
2. Analyses how the facts are connected, how the topic of a paragraph is connected with that of a preceding paragraph.
3. Make a list of all the points you are going to mention in your précis. Write them down using the necessary key terms. These notes must contain all the essential facts.
4. You must add no information of your own or your personal judgment.
5. When writing your précis, put aside the original text and work from your notes, putting information into complete sentences in your own words.
c) Abstract
The abstract is in essence the paper in miniature. It presents the purpose of the study, points out major themes, method, results and conclusions. The abstract helps the reader to decide whether the article is interesting or relevant enough to warrant the time necessary to read all the details. The abstract, therefore, must include enough information to fulfill its major function, but it should be brief and concise.
Rules for Writing an Abstract
1. Keep the abstract short. A 200-word limit is recommended.
2. Write it as one paragraph.
3. Do not use abbreviations.
4. Do not include citations or references unless they are essential.
5. Briefly describe the subjects, the structure of the study, the methods, approaches and procedures.
6. Summarize the main results, indicating whether they are significant.
7. Stick mainly to Simple Present tense form.
8. Do not present detailed discussion or explanation.
Информация 3. Прочтите и запомните выражения для аннотирования
Some useful expressions in précis and abstract writing
- давать тщательный -to present a refined analysis
анализ
- изучать проблему - study a problem
- сообщать о последних -cover the latest achievements
достижениях
- дать обзор новейшей литературы -survey the recent literature
- рассматривать точку зрения - treat the opinion
- приводить данные о - introduce data on
- обсуждать взаимосвязь между - to discuss the relationship between