Английский для экономистов (учебник английского языка)

Economic Institution

– a physical or mental structure that significantly influences economic decisions

Economic policy

– an action (or inaction) taken, usually by government, to influence economic events.

Economic model

– simplified representation of reality.

Positive Economics

– the study of what is, and how the economy works.

Normative Economics

– the study of how the economy should be, from society’s standpoint.

Ex. 1.To show that you understand the words given above, choose the best word to complete the following sentences.

1. Home … is a subject studied at school and college in which students are taught how to run a house well and efficiently.

2. New England’s … is still largely based on manufacturing.

3. All Western … are competing against each other.

4.These businesses contribute hundreds of millions of pounds to the … of the country.

5. I switched off the lights as an … measure.

6. If you make …, you take action in order to save money, by not spending it on unnecessary things.

7. You’ll have to travel … class.

8. Buy our new … packs of 100.

9. If you are really going to buy a car, we’ll have to … on other things.

10. In his works he explains the ideas of the great English … J.M. Keynes.

11. She thought of herself as an … wife.

12. This system was extremely … because it ran on half-price electricity.

13. What has gone wrong with the … system during the last ten years?

14.

15. … is the oldest of social sciences.

Ex. 2. Look at the following derivatives. Use your knowledge of English and logical reasoning to explain the meaning of each word below.

system, systematic, systematically, systematize, systemic

Use these words in the following sentences.

1. The police made a .... search of the building.

2. You need some … in your work if you want to succeed.

3. I wish they’d organize themselves more … .

4. … insecticides spread all through a plant and kill any insects that feed on it.

5. This method helps … the information received.

Ex. 3. Add appropriate words where there are blanks in the sentences below and you’ll get the definitions of the words in bold. Some words can be used in their different meanings.

imply, convey, standpoint, overall, range, scarce, free, available, utility, rate, output, environment, artifact, discretion

1.