Vocabulary Focus

1. Complete the gaps choosing the right alternative.

1. The current … rate is six percent.

a) behaviour

b) unemployment

c) allocation

2. Cold weather … the crops.

a) affected

b) studied

c) caused

3. I haven't had much … from my business this year.

a) income

b) rate of growth

c) price level

4. Digital technology is the latest … in television.

a) income

b) trend

c) behavior

5. An accountant (бухгалтер) has been employed to … the company's books.

a) cause

b) distribute

c) examine

6. We need to find the best way to … our resources.

a) divide

b) allocate

c) influence

2. Fill in the gaps with prepositions, where necessary.

1. The bank deals directly … the private sector.

2. I need time to study … this contract before signing it.

3. No one knows how this decision will influence … the outcome of the election.

4. Consumer magazines can be divided … a number of categories.

5. What may cause … unemployment?

3. Look through the text once again and find the words and phrases which mean the following.

-to satisfy the needs

- a very important subject or problem

- to influence decisions

- the industry as a whole

-to study economy-wide phenomena

Talking Points

1. Imagine that your friend has got an opportunity to take one course in economics, so he has a choice between macroeconomics and microeconomics. Which course would be more interesting and useful? What would your advice be? Why?

Use the following expressions:

I think, I would… (Я думаю, я бы …)

He should perhaps …(Возможно, ему следует …)

In his position, I would … (На его месте я бы …)

2. Prepare to talk about the differences and similarities between macroeconomics and microeconomics. Complete the statements and share your opinions.

a) Microeconomics and macroeconomics are the fundamental tools to be learnt, in order to understand ….

b) While the two studies are different, they are interdependent, and together they ….

c) The main differences between … are ….

Summary Points

1. Skim the text once more and identify its main idea. Use the necessary vocabulary from Unit 1 Summary Points.

2. Make up a plan of the text about micro- and macroeconomics. Discuss it in pairs, then report to the whole group.

This text can be divided into … parts.	Текст можно разделить на … частей.
The text consists of … parts.	Текст состоит из … частей.
The first part is about ….	Первая часть текста – о …
The second (third, fourth) part describes (analyzes) ….	Вторая (третья, четвертая) часть описывает (анализирует) …

UNIT 3

TYPES OF ECONOMIC SYSTEMS

Lead-in

Answer the following questions before you read the text below. If you can’t answer them now, try to answer them after reading the text.

1. What types of economic systems do you know? What is the difference between them?

2. What factors may affect the type of economy a country holds? When would it be beneficial for a country to change its economy?

Key Vocabulary

1. Study the following list of vocabulary.

1. produce v	производить
2. market n	рынок
3. determine v	устанавливать, определять
4. price n	цена
5. trade n	торговля
6. exchange n	обмен
7. government n	правительство
8. society n	общество
9. alleviate v	уменьшать, ослаблять
10. advancement n	развитие
11. decide v	решать
12. free enterprise	свободное предпринимательство
14. private adj	частный
15. wages n	зарплата
16. regulate v	регулировать
17. provide v	предоставить, обеспечить наличие
18. run v	управлять
19. tax n	налог

2. Mind the following forms of the irregular verb “to sell”:

sell (sold, sold) - продавать