- •Contents: I Semester (d.Begg, s.Fisher, r.Dornbusch. Economics.)
- •I.Part I. Economics and the Economy
- •Introduction: What is Economics?
- •Exercise 1. Listening (Guide to Economics, unit 8 “Factors of Production” – track 23)
- •Video (ttc Economics 01) “How Economists Think”
- •Exercise on Listening (Basic Economics). “What is economics?” Chapter 01
- •Exercise 1.5 (Study Guide) Complete the sentences below with prepositions where necessary:
- •Exercise 1.10 (Study Guide) Complete the text using the words in the box:
- •Exercise 1.3 (Study Guide) Give English equivalents for the following. Consult your dictionary: economic
- •Production
- •Regulation
- •Government
- •Exercise 1. Check your understanding
- •Exercise 2. Increase your vocabulary
- •Part II. Demand, Supply and the Market
- •Exercise 1. Check your understanding
- •Exercise 2. Increase your vocabulary
- •Exercise 3.2 (Study Guide, unit 3). Find in the text English equivalents for the following:
- •Exercise 3.3 (Study Guide, unit 3)
- •Exercise 3.4 (Study Guide, unit 3)
- •Соnsumption
- •Exercise 3.7 (Study Guide, unit 3). Interpret or extend the following statements:
- •Exercise 1. Check your understanding
- •Exercise 2. Listening (Guide to Economics, unit 2, f – track 06)
- •Exercise 7.3 (study Guide). Give English equivalents. Consult the Economic Dictionary.
- •Exercise 7.6 (study Guide). Complete the text using the words in the box.
- •Exercise 7.10 (study Guide). Translate into English.
- •Optional:
- •Video or Audio (Economics ttc Lecture 3 “Supply and Demand”)
- •Supply for Ice Cream Cones Near Your School
- •Part III. Types of Markets
- •Legal Monopolies
- •Совершенно конкурентный рынок
- •Part IV. Government in the Mixed Economy.
- •Impose Taxes
- •Information-related Problems
- •Income Redistribution and Merit Goods
- •Legislators
- •Civil Servants
- •Summary
- •Part V. Taxes
- •Variety of Taxes.
- •Case 1. Contracting for Prisons in Texas.
- •Case 2. Nationland.
Exercise 1.5 (Study Guide) Complete the sentences below with prepositions where necessary:
How the price system answers the ‘what’ question
When buyers want more _________/1/ a product, they are willing to pay more ________/2/ it. Higher prices attract other producers. As production increases, the need ________/3/ additional workers causes wages to rise within the industry. When demand _________/4/ the product falls, the opposite happens. Prices fall, producers who can no longer operate profitably shut down, or switch ________/5/ other products, and production falls enough to meet___________/6/ the reduced demand.
Exercise 1.10 (Study Guide) Complete the text using the words in the box:
transfer payments scarcity legal framework what, how and for whom income
resources taxes borrowing allocation of resources demands
The essence of the economic problem is that ___/1/ are scarce and ___/2/ are unlimited. This ___/3/ requires every economic system to make choices as to ___/4/ to produce.
The main functions of government in modern mixed economies are to set ___/5/ for the operation of markets, to modify ___/6/, to redistribute ___/7/, and to provide stability and growth. Governments pay for the goods they buy and for the ___/8/ they make by levying ___/9/ or by ___/10/.
Exercise 1.12 (Study Guide) match the following terms with the correct definition:
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a. economics
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b. scarce resource
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c. distribution of income |
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d. resource
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e. allocation
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f. the ’what’ question
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g. the ‘how’ question |
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h. the ‘for whom’ question |
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i. input |
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j. output |
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k. household |
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l. national income |
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m. transfer payments |
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n. unemployment benefit |