I. Reading and Speaking Practice Section

1. Guess the meaning of the following words:

economy, economics, macroeconomics, microeconomics, inflation, positive, sphere, political, finance, social, basic, theory, factor.

2. Match the English terms with their Russian equivalents:

stimulus подход

distribution общество

goods безработица

consumption толчок, стимул

unemployment товары

society прикладной(-ая)

applied распределение

approach потребление

3. Discuss in small groups the following questions (see Appendix 1 on p.39):

- what economics is;

- what issues it studies;

- why it is important for the society;

- outstanding economists you know;

- where economic analysis can be applied.

Text A

Economics