TEXT 2

Microeconomics and macroeconomics.

Economists have two ways of looking at economics and economy. One is the macro approach, and the other is the micro one.

Macroeconomics is the study of the economy as a whole. It examines questions such as how fast the economy is running, how much total income is, etc.

Microeconomics examines cause-and effect relationships that influence choices of individuals, firms and society. It is concerned with production and consumption. Much attention is paid by microeconomists to the study of prices.

Vocabulary

economy – экономика, хозяйство

cause-and effect relationships – причинно-следственные связи

consumption - потребление

to examine – исследовать, рассматривать

income - доход

price - цена

production – производство

TASKS

Task 1. Find in the text irregular verbs and give their proper forms.

Task 2. Give corresponding verbs to the following nouns.

production

consumption

relationships

examination

payment

choice

Task 3. Form nouns from the given verbs.

present, produce, distribute, develop, grow, describe, divide, select, change, discuss, decide, use, manage.

Task 4. Give anonyms to the following words:

fast

total

micro

Task 5. Give Russian equivalents to the following word combinations:

… two ways of looking at…

… the study of the e3conomy…

… is concerned with…

Task 6. Finish up the sentences and translate them into Russian

1. Macroeconomics is the study …

2. Microeconomics examines …

3. Much attention is paid by microeconomics…

Task7. True or false?

1. Economists have several ways of looking at economics and economy.

2. Microeconomics is the study of the cause-and-effect relationships that influence choices of individuals and society, but not business firms.

3. Macroeconomics is concerned with consumption.

Task 8. Answer the following questions.

1. What is the difference between micro-and mcroeconomics?

2. What questions does macroeconomics examine?

3. What problems does microeconomics study?