VII. Перепишите предложения и переведите их на русский язык, определив видовременную форму глаголов.

1. An economic system is described as the collection of institutions, laws, incentives, activities that govern economic relationships among people in a society.

2. People and societies organized economic life to deal with the basic problems through economic systems.

3. People generally repeat the decisions that were made at an earlier time.

4. A framework for answering the basic economic questions will be provided with an economic system.

VIII. Переведите предложения, обращая внимание на различные значения слов it, one.

1. It is necessary to make choices because we live in a world of scarcity.

2. It is technological improvements that increase the productivity of labour very often.

3. One always faces the scarcity problem in some form.

4. All societies must decide what goods and services to produce, which ones to postpone, and when and how to transfer productive resources from one use to another.

IX. Перепишите предложения, переведите их на русский язык, подчеркните модальные глаголы.

1. Can just anyone be king or queen of England?

2. To be qualified to use the name "economist" a person must have a graduate degree in economics, either a master's degree or a Ph.D.

3. The government economist should wear a second hat as a policy analyst.

4. People have to choose through their governments whether to build a dam.

Приложение 2 Самостоятельная работа

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ORIGINS OF MONEY

There are numerous myths about the origins of money. The concept of money is often confused with coinage. Coins are a relatively modern form of money. Their first appearance was probably in Asia in the 7th century BC. And whether these coins were used as money in the modern sense has also been questioned.

To determine the earliest use of money, we need to define what we mean by money. We will return to this issue shortly. But with any reasonable definition the first use of money is as old as human civilization. The early Persians deposited their grain in state or church granaries. The receipts of deposit were then used as methods of payment in the economies. Thus, banks were invented before coins. Ancient Egypt had a similar system, but instead of receipts they used orders of withdrawal – thus making their system very close to that of modern checks. In fact, during Alexander the Great’s period, the granaries were linked together, making checks in the 3rd century BC more convenient than British checks in the 1980s.

However, money is older than written history. Recent anthropological and linguistic research indicates that not only is money very old, but it’s origin has little to do with trading, thus contradicting another common myth. Rather, money was first used in a social setting. Probably at first as a method of punishment.

Early Stone Age man began the use of precious metals as money. Until the invention of coins, metals were weighed to determine their value. Counting is of course more practical, the first standardized ingots appeared around 2200 BC. Other commonplace objects were subsequently used in the abstract sense, for example miniature axes, nails, swords, etc.

Full standardization arrived with coins, approximately 700 BC. The first printed money appeared in China, around 800 AD. The first severe inflation was in the 11th century AD. The Mongols adapted the bank note system in the 13th century, which Marco Polo wrote about. The Mongol bank notes were “legal tender”, i.e. it was a capital offense to refuse them as payment. By the late 1400s, centuries of inflation eliminated printed bank notes in China. They were reinvented in Europe in the 17th century.

Ответьте на вопросы, основываясь на содержании текста.

1. Are the concepts of money and coinage the same?

2. How old is the first money?

3. What did early Stone Age men use as money?

4. Where and when did the first bank notes appear?

5. When and where was the printed money reinvented?

TAX

A tax is a compulsory charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (e. g., tribes). Taxes could also be imposed by a subnational entity.

Taxes may be paid in cash or in kind or as corvee labor. In modern capitalist taxation systems, taxes are designed to encourage the most efficient circulation of goods and services and are levied in cash. In kind and corvee taxation are characteristic of traditional or pre-capitalist states and their functional equivalents. The means of taxation, and the uses to which the funds raised through taxation should be put, are a matter of hot dispute in politics and economics, so discussions of taxation are frequently tendentious.

Political authority has been used to raise capital throughout history. In many pre-monetary societies, such as the Incan empire, taxes were owed in labor. Taxation in labor was the basis of the Feudal system in medieval Europe.

In more sophisticated economies such as the Roman Empire, tax farming developed, as the central powers could not practically enforce their tax policy across a wide realm. The tax farmers were obligated to raise large sums for the government, but were allowed to keep whatever else they raised.

There were certain times in the Middle Ages where the governments did not explicitly tax, since they were self-supporting, owning their own land and creating their own products. The appearance of doing without taxes was however illusory, since the government's (usually the Crown's) independent income sources depended on labor enforced under the feudal system, which is a tax exacted in kind.

Many taxes were originally introduced to fund wars and are still in place today, such as those raised by the American government during the American Civil War (1861-1865). Income tax was first introduced into Britain in 1798 to pay for weapons and equipment in preparation for the Napoleonic wars and into Canada in 1917 as a "temporary" tax under the Income War Tax Act to cover government expenses resulting from World War I.

The current income tax in America was set up by Theodore Roosevelt in 1913. It was called The Federal Income Tax and was deducted from incomes at rates varying from 1-7%. But, since then, the American Tax Code has been modified and new taxes have been added, especially over the World War I and II periods. Since World War II, the American Tax Code has increased in size four-fold.

Notes:

corvee [‘k?:vei] – 1) барщина; 2) рабский труд, тяжелая работа

tax farmer – откупщик, сборщик налогов, податей

in kind – натуральный (в форме товаров или услуг, а не денег)

income tax act – закон о подоходном налоге

Ответьте на вопросы, основываясь на содержании текста.

1. What is the definition of a tax?

2. How can taxes be paid?

3. How were taxes paid in medieval Europe?

4. Why were taxes introduced?

5. Which document describes what taxes people have to pay?

TYPES OF TAXES

Taxes are sometimes referred to as direct or indirect. In economics, direct taxes refer to those taxes that are collected from the people or organizations on whom they are imposed. For example, income taxes are collected from the person who earns the income. By contrast, indirect taxes are collected from someone other than the person responsible for paying the taxes.

Income tax is commonly a progressive tax because the tax rate increases with increasing income. Some critics characterize this tax as a form of punishment for economic productivity. Income tax fraud is a problem in most, if not all, countries implementing an income tax. Either one fails to declare income, or declares nonexistent expenses. Failure to declare income is especially easy for non-salaried work, especially those paid in cash. Tax enforcement authorities fight tax fraud using various methods, nowadays with the help of computer databases.

Income tax may be collected from legal entities (e. g., companies) as well as natural persons (individuals), although, in some cases, the income tax on legal entities is levied on a slightly different basis than the income tax on individuals and may be called, in the case of income tax on companies, a corporation tax or a corporate income tax.

A poll tax, also called a per capita tax, or capitation tax, is a tax that levies a set amount per individual. The earliest tax mentioned in the Bible of a half-shekel per annum from each adult Jew was a form of poll tax. Poll taxes take the same amount of money and hence, a higher proportion of income for poorer individuals as for richer individuals. Poll taxes are difficult to cheat.

A value added tax (sometimes called a goods and services tax, as in Australia and Canada) applies the equivalent of a sales tax to every operation that creates value. VAT was historically used when a sales tax or excise tax was uncollectible. In reality, forged invoices and the like demonstrate that tax evaders will always attempt to cheat the system.

Notes:

income tax – подоходный налог

to advocate – 1) защищать, выступать в защиту; 2) поддерживать; 3) отстаивать

fraud – мошенничество

legal entity – юридическое лицо

natural person – физическое лицо

corporation tax (corporate income tax) – корпоративный налог, налог на корпорации, налог на прибыль корпорации

poll tax (per capita tax, capitation tax) – подушный избирательный налог, подушный налог

per annum – в год, ежегодно

hence – 1) значит; 2) отсюда; 3) следовательно

Value Added Tax (VAT) – налог на добавленную стоимость (НДС)

sales tax – налог с продаж (оборота)

excise tax – акцизный сбор

uncollectible – безнадежный

to forge – подделывать документ, изготовлять подложный документ

invoice – счет, фактура, счет-фактура

tax evader (evador (UK)) – лицо, уклоняющееся от уплаты налогов

Ответьте на вопросы, основываясь на содержании текста.

1. What are the two main kinds of taxes?

2. What is a progressive tax?

3. What is the VAT?

4. What is the poll tax?

5. What is the income tax?

ECONOMY OF RUSSIA

The Soviet Union had a centralized state control over virtually all means of production, exchange, distribution arid investment. The Soviet Union also had a planned economy. Economic policy was made according to directives from the Communist Party, which controlled all aspects of economic activity.

Russia undertakes the transition to fully-developed market economy with challenges and obstacles. However, Russian economy has great potential for growth. Russia possesses huge supplies of many of the world's most valued natural resources, especially those required to support a modern industrialized economy. It also has a well-educated labour force with substantial technical expertise. At the same time, Soviet-era management practices, old infrastructure, and inefficient supply systems hinder efficient utilization of those resources.

Russia ended 2006 with its fifth year of growth, averaging 6.5% annually since the financial crisis of 1998. Although high oil prices and a relatively cheap ruble are important factors of these economic successes, since 2000 investment and consumer-driven demand have played a noticeably increasing role.

Real fixed capital investments have averaged gains greater than 10% over the last four years and real personal incomes have increased over 12% on averaged Russia has also improved its international financial standing since the 1998 financial crisis, with its declining national debt.

Strong oil export earnings have allowed Russia to increase its currency reserve. These achievements, along with a renewed government effort to advance structural reforms, have raised business and investor confidence in Russia's economic prospects.

Nevertheless, serious problems exist. Oil, natural gas, metals, and

timber account for more than 80% of exports, leaving the country vulnerable to swings in world prices.

Russia's manufacturing base is dilapidated and must be replaced or modernized if the country is to achieve considerable economic growth. Other problems include a weak banking system, a poor business climate that discourages domestic and foreign investors, corruption,-local and regional government intervention in the courts, and widespread lack of trust in institutions.

Notes:

centralized — централизованный

state control — государственный контроль

virtually — практически

to undertake — предпринимать, проводить

challenges — проблемы, задачи, «вызовы»

valued — ценный

substantial — значительный

expertise — опыт, знание дела

hinder — затруднять, препятствовать

annually — ежегодно

consumer-driven demand — спрос, вызванный населением

real fixed capital investments — реальные вложения в основной капитал

to have averaged gains — зд. сделать обычными доходами

to improve — улучшать

financial standing — финансовое положение

currency reserves — валютные резервы

confidence — уверенность

prospects — перспективы

timber— лесоматериалы

to account for — составлять

vulnerable — уязвимый, ранимый

swings — колебания

dilapidated — ветхий, изношенный

considerable — значительный

weak — слабый

domestic — местный, внутренний

intervention in the courts — вмешательство в судопроизводство

lack of trust — недостаток доверия

Ответьте на вопросы, основываясь на содержании текста.

1. What are the characteristics of the economy of the Soviet Union?

2. How was the economic policy made in the Soviet Union?

3. How does Russia undertake the transition to capitalism?

4. What are the assets of Russian economy?

5. What does hinder the efficient utilization of the resources?

6. How does Russian economy perform since the year 2000?

7. What is the role of consumers in the economic rebound?

8. What is said about the foreign reserves?

9. Why is Russian economy vulnerable to swings in oil prices?

10. What are the problems of Russian economy?

LOOKING FOR A JOB

When a company needs to recruit or employ new people, it may decide to advertise the job or position in the "NEED HELP" section of a newspaper. People who arе interested can apply for the job by sending in a letter of application or covering letter (in the USA — cover letter) and a curriculum vitae or CV (in the USA – resume) containing details of their education and experience.

A company may also ask candidates to complete a standard application form. The company's Human Resources department will then select the most suitable applications and prepare a shortlist of candidates or applicants, who are invited to attend an interview. Another way for a company to hire is by using the services of a recruitment agency, which provides a list of suitable candidates.

The CV (curriculum vitae) is presenting your education, skills experience to the employer. CV demonstrates the suitability of an applicant for the job. As well as providing an insight into previous qualifications and experience, it should show the employer the skills and qualities the applicant has, that will match the position being applied for. In compiling CV the applicant has one objective only — to get an interview in order to get the job.

A CV must be accurate, interesting and up-to-date. It must be presentable so that it makes the best impression possible and gets noticed. It should be relevant — targeted to the needs of each particular position.

In your CV you need to bring together details of your qualifications, details of the job itself, details of the qualifications and skills required, evidence from your personal profile that matches the employer’s criteria.

Notes:

to recruit — нанимать, брать на работу

to advertise — давать объявление

section of a newspaper — рубрика газеты

apply for a job — подавать заявление на должность

letter of application (covering letter) — сопроводительное письмо

curriculum vitae (CV) or resume — резюме

to complete an application form — заполнить анкету

Human Resources department — отдел по работе с кадрами

shortlist of candidates — окончательный список кандидатов

to attend an interview — посещать интервью

recruitment agency — кадровое агентство