APPLIED FIELDS OF ECONOMICS

There is a basic theory and facts in economics, in which all economists are interested. However, economics has some main applied fields that deal with specific topics, such as industrial economics, agricultural economics, economics of energy, economics of education, labour economics, etc.

Industrial organization and structure are studied by industrial economics which also analyzes markets for manufactured goods as well as policies of various enterprises. The degree of concentration and barriers against new competitors in the market have already been analyzed by industrial economics for such important branches of economy as mining, gas, and oil industries, etc. The behaviour of firms and companies in an industry is influenced by the structure of the industry. Both profits and losses in any industry are affected by the behaviour of firms and companies engaged in the industry.

The economics of energy is known as another important field of applied economics closely connected with industrial economics. A lot of energy has been used by the modern economy in recent decades. Farms, factories, plants, transportation as well as families have greatly increased the consumption of various sources of energy since new modern equipment and technologies were introduced. In the past, wood and coal were used as the main sources оf energy. Then, these sources were replaced by gas and oil in most industries. However, in the 1970s energy sources became scarce and there was a rise in energy prices. Since that time serious adjustments have been made by industrial economies in order to cope with the energy scarcity. For the last few decades the problems of energy economics have been discussed by specialists and governments in many countries. Regular meetings are held by the OPEC1 formed in order to regulate oil prices.

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1. What topics do applied fields in economics deal with?

2. What does industrial economics study?

3. What influences profits and losses in any industry?

4. Why is economics of energy closely connected with industrial economics?

5. What were the main sources of energy in the past?

6. Why were adjustments made in most industries in the 1970s?

7. How are prices for oil regulated now?

Mark Twain was very fond of traveling. He did a lot of traveling and never got tired of it. Once he was traveling in France by train. He was going to visit a small town near Paris.

The previous day was very hard, Mark Twain was very tired and sleepy. He was afraid he would miss the town and asked the guard to wake him up before they got to the town.

Soon he fell asleep. When he woke up, the train was in Paris. Mark Twain looked at his watch. It was half past nine. He got very angry. He couldn’t understand why the guard had not woken him up in time.

He went out of the compartment, came up to the guard and asked him why he had not woken him up. The latter looked at Mark Twain for a moment and then told him: “You may be very angry with me, but not so angry as the American whom I put off the train instead of you.”

I. Right or wrong.

1. Mark Twain was very fond of music.

2. He was going to visit a small town near London.

3. The guard woke Mark Twain up at his station.

4. Mark Twain was angry.

5. The American was put off the train instead of Mark Twain.

II. Answer the questions.

1. Was Mark Twain very fond of traveling?

2. What town was he going to visit?

3. Mark Twain was very tired and sleepy, wasn’t he?

III. Complete the sentences.

1. Mark Twain was traveling in France by .

2. Mark Twain couldn’t understand why the guard .

3. When he woke up, .

IV. Match the verbs with their Russians equivalents.

1) to travel a) понимать

2) to wake up b) путешествовать

3) to understand c) будить

4) to visit d) навещать

GRAMMAR.

1. Choose the right variant.

1. The English don’t shake hands when they meet, … ?

a) do they b) don’t they c) aren’t they d) are they

2. They try to be cheerful and good-tempered in difficult situations, …?

a) do they b) don’t they c) are they d) aren’t they

3. Many English people have fireplaces in their houses, … ?

a) have they b) didn’t they c) don’t they d) aren’t they

4. Mary can’t forget her trip to the lake, …?

a) doesn’t she b) don’t she c) can’t she d) can she

2. Add question tags to complete the sentences.

1. Country-people in Russia are rather frank and talkative, ?

2. The Welsh are considered to be emotional and cheerful, ?

3. Every Englishmen doesn’t like to miss his afternoon tea, ?

4. Many Russians waiting for service like to jump the queue, ?

3. Choose the right translation.

1. The girl was often heard to have sung the song.

a) Девочка слышала, как часто пели песню.

b) Девочка слышала, как поют песню.

ответ: вот, перевод прямой, я так понимаю)

Объяснение:

1) Он сказал: «Мне нравится эта песня.

2) "Где твоя сестра?" - с она меня

3) "Передавай привет Джиму" - сказали они.

4) "Фильм начался в семь часов" - сказал он.

5) «Не играйте на траве, ребята», - сказала она.

6) Как (или где) вы потратили свои деньги? »- с она его.

7) «Я никогда не ошибаюсь», - сказал он.

8) "Она знает Роберта?" он хотел бы знать.

9) "Не пытайтесь делать это дома", сказал каскадёр аудитории.

10) "Я не говорю по-итальянски", сказала она.