What is the Role of Microeconomics?

ИНОСТРАННЫЙ ЯЗЫК В ПРОФЕССИОНАЛЬНОЙ СФЕРЕ

(Английский язык)

УЧЕБНО – МЕТОДИЧЕСКИЙ КОМПЛЕКС

ДИДАКТИЧЕСКИЕ МАТЕРИАЛЫ

ДЛЯ САМОСТОЯТЕЛЬНОЙ РАБОТЫ СТУДЕНТОВ ЭКОНОМИЧЕСКИХ СПЕЦИАЛЬНОСТЕЙ И НАПРАВЛЕНИЙ ФЭИ

ЧАСТЬ 2

 

 

Тюмень

Издательство Тюменского Государственного Университета

УДК 811.111 (075.8)

ББК: Ш 143. 21 - 923

Я 744

Е.Л. Яркова. Иностранный язык в профессиональной сфере (английский язык). Часть 2. Учебно – методический комплекс.Дидактические материалы для самостоятельной работы студентов экономических специальностей и направлений ФЭИ. Тюмень: Издательство Тюменского государственного университета, 2013. 40 с.

Дидактические материалы предназначены для самостоятельной работы с аутентичным текстовым материалом по модулю «Основные понятия экономики» на английском языке. Они могут быть использованы как во внеаудиторной, так и аудиторной самостоятельной работе для развития навыков осмысленного чтения специальной литературы, языкового и информационного анализа, для расширения словарного запаса в профессиональном общении и обучения студентов самостоятельной поисковой деятельности в процессе преподавания делового английского языка.

Комплекс включает научно-популярные экономические тексты, упражнения, нацеленные на формирование лингвистической и коммуникативной компетенции

Рекомендовано к изданию кафедрой иностранных языков и МПК ИПЭУ. Утверждено первым проректором по учебной работе Тюменского государственного университета.

ОТВЕТСТВЕННЫЙ РЕДАКТОР: И.Л. Плужник, доктор педагогических

наук, профессор

РЕЦЕНЗЕНТЫ: Т.В.Хвесько, доктор филологических наук, профессор

М.А. Гильтман, кандидат экономических наук, доцент

 

© Тюменский государственный университет, 2013.

© Е.Л. Яркова, 2013

ОГЛАВЛЕНИЕ

 

Unit 1 Talking about Key Concepts of Microeconomics. 4

Test 1. 7

Unit 2 Basic Terms of Macroeconomics. 10

Test 2. 15

Unit 3 First Insights into Economic Theories. 19

Test 3. 23

Unit 4 Talking about Careers in Economics. 28

Answer Keys ………………………………………………………………………37

Literature. 40

 

Unit 1. Talking about Key Concepts of Microeconomics

Before You Read

1. Look at the word: micro + economics, what does it mean, in your opinion?

2. Below there is a list of some of the terms and terminological expressions you will come across in the following text. See if you understand them. Consult a dictionary: http//www.multitran.ru to help you, check with the key.

Key Vocabulary

1. patterns of consumers	11. effect on pricing.
2. spending habits	12. to establish prices
3. production decisions	13. identifying the impact
4. supply and demand	14. inefficiency in the market
5. market indicators	15. the market imbalance
6. households	16. prioritizing resources
7. responding to markets	17. buying decision
8. to offer insight into	18. market competition
9. the value of a particular product	19.to determine the demand
10. entity	20. assessment

 

Reading and Comprehension

Read and translate the following text, remember the bolded words and expressions, answer the question:

What is the Role of Microeconomics?

Microeconomics has a role in society as well as in the economy of a region. This field of study allows economists to determine not only the patterns of consumers, businesses, and other organizations that are spending money but also the factors that are affecting spending habits and production decisions. Microeconomics involves studying the concepts and ideas that establish supply and demand in a particular market and the way that consumers and businesses like prioritize their spending.

Essentially, the role of microeconomics is to determine how, when combined, small economic components are affecting the broader economy. Instead of looking at market indicators that represent a wide field of data, however, this type of study considers how individuals, households, or specific markets are responding to markets. Although this economic approach does not necessarily reveal or determine economic conditions, the process offers insight into the way that consumers and businesses like decide the value of a particular product or service. This is expressed in the amount of resources that either the consumer or business dedicates to an item.

Rather than tallying the way that consumers as a whole are responding to a particular product, for instance, microeconomics begins with the study of the extent of demand stemming from one single consumer. Once this demand has been determined, this study continues and expands to include a greater number of individuals in the assessment. Economists also study businesses to learn how these entities respond to different types of consumer demand and the ultimate effect on pricing.

A major role of microeconomics is to recognize the way that prices for goods and services are established in a given market. The process involves identifying the impact that supply and demand have on the way that items are produced. When there is a disconnect between the amount of supply and the interest stemming from buyers, there is an inefficiency in the market. The application of microeconomics should ultimately reveal where and how the market imbalance occurred.

Also, the role of microeconomics reveals the way that buyers prioritize resources. This is because even when consumers possess an interest in buying particular service or product, these individuals are typically limited in the amount of resources available to them. Subsequently, the strategies involved with microeconomics could reveal the way that consumers prioritize resources and also offer insight on the way that individual buying decisions affect market competition. Written by Geri Terzo

Vocabulary Expansion

1. Make phrases by matching words from the left-hand column with words from the right-hand column. For e.g. spending habit

Spending	effect
Ultimate	habit
Single	product
Particular	consumer
Economic	demand
Consumer	approach

 

2. Make the following words have a negative meaning by adding a prefix.

Balance, connect, like, efficiency, available, interesting

3. Match the words and expressions on the left with the words of the same meaning on the right.

To affect	to set up
Conditions	to have an effect on
Consumer	assessment
Evaluation	customer
To react	terms
To establish	to respond to