2017-11-01
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Economics - экономика
social science – общественная наука
production – производство, продукция
distribution – распределение, распространение
consumption – потребление, расход
goods - товары
service - услуги
analysis – анализ, изучение, исследование
distinction – различие, отличие
market - рынок
inflation - инфляция
unemployment- безработица
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία (oikonomia, "management of a household, administration") from οἶκος (oikos, "house") + νόμος (nomos, "custom" or "law"), hence "rules of the house(hold)". Current economic models emerged from the broader field of political economy in the late 19th century. A primary stimulus for the development of modern economics was the desire to use an empirical approach more akin to the physical sciences.
Economics aims to explain how economies work and how economic agents interact. Economic analysis is applied throughout society, in business, finance and government, but also in crime, education, the family, health, law, politics, religion, social institutions, war, and science. The expanding domain of economics in the social sciences has been described as economic imperialism.
Common distinctions are drawn between various dimensions of economics. The primary textbook distinction is between microeconomics, which examines the behavior of basic elements in the economy, including individual markets and agents (such as consumers and firms, buyers and sellers), and macroeconomics, which addresses issues affecting an entire economy, including unemployment, inflation, economic growth, and monetary and fiscal policy. Other distinctions include: between positive economics (describing "what is") and normative economics (advocating "what ought to be"); between economic theory and applied economics; between mainstream economics (more "orthodox" dealing with the "rationality-individualism-equilibrium nexus") and heterodox economics (more "radical" dealing with the "institutions-history-social structure nexus"); and between rational and behavioral economics.
Make up your own sentences with these words: social science, development, economics, society, business, consumer, seller, firm, buyer, inflation, employment.
Answer the questions: What is economics? When did economics emerge? What basic elements of the economy do you know? What is the aim of economics? What kind of economics do you know?
Retell the text.
Text 11. Microeconomics
