Accounting, international trade, advertising, consumption, unemployment, economic growth, powerful, manages, primary objective, society.

1. Financial _____ focuses on the reporting of an organization's financial information, including the preparation of financial statements, to external users of the information, such as investors, regulators and suppliers.

2. ______is the value of goods and services bought by people.

3. ______ in business is a form of marketing communication used to encourage, persuade, or manipulate an audience to take to continue to take some action.

4. In recent years, Russia's oil and gas production and pipeline projects have been not only a primary source of Russia's _____ _____ but also a geostrategic lever in the country's relationship with Europe and Asia.

5. The Nation's _____ _____ deficit in goods and services decreased to $40.4 billion in March from $41.9 billion in February.

6. "How does this thing help us to meet our _____ _____."

7. _____ occurs when people are without work and actively seeking work.

8. The idea of economists and political philosophers, both when are right and when they are wrong, are more _____ than is commonly understood.

9. An information _____ is a society where the creation, distribution, use, integration and manipulation of information is a significant economic, political, and cultural activity.

10. He _____ his own finances.

6.Find the proper definition:

7.Choose the right answer:

Summarize the main idea of the text in 8-10 sentences.

Read the following text dealing with the topic of Unit VI.

Adam Smith

Adam Smith was a great scientist who made extraordinary contributions in economics.

He was born in 1723 in Kirkcaldy, a small fishing town near Edinburgh, Scotland. His father was a customs officer. He died before his son was bom.

At the age of 28 Adam Smith became a Professor of Logics at the University of Glasgow. It was his first academic appointment. Some time later he became a tutor to a wealthy Scottish duke. Then he received a grant of £300 a year. It was a very big sum, 10 times the average income at that time.

With the financial security of his grant, Smith devoted 10 years to writing his work which founded economic science. Its full title was An Inquiry into the Nature and Causes of the Wealth of Nations. It was published with great success in 1776.

Adam Smith made economics a science. This Scottish economist is often regarded as the founder of political economy too.

Do you know these words?

10.Read and translate the words having one and the same stem; underline thesuffixes of nouns:

11.Translate the words and write those from which they are formed:

Economist, interpreter, teacher, founder, physician, ecologist, historian, speaker, writer, physicist, officer, mathematician.

12.Answer these questions:

1) When and where was Adam Smith born? 2) Who was his father? 3) What was Adam Smith's first academic appointment? 4) Did he become a tutor then? 5) How big was the grant he received some time later? 6) What work did dam Smith do with the support of the grant?

Repeat what the text said about Adam Smith.

Read the following conversation and act it out

Once at an informal party two post-graduates (A and B) who had not met for rather a long time, were speaking about their university mates and friends:

A:Fred is remarkable! There isn't much he doesn't know.

В:Т think it's his natural curiosity. He wants to know everything. He doesn't just scratch the surface, either. He really gets to the bottom of things.

A:Do you know what he explained to me today? The ins and outs of the stock market. He knows all about Wall Street – all these stocks, shares, stock exchange quota­tions and what not.

B:Is he a stockbroker?

A:If I'm not mistaken, he is.

B:I have to confess something. I didn't think much of Fred at first.

A: Iunderstand. He's very quiet. He doesn't make a good first impression. But he grows on you after a while.

B:He's a far cry from his brother. Pete talks all the time and doesn't say anything, either.

A: There are too many Petes in the world. And not enough Freds.

Do you know these words?

Translate into Russian.

1. The prices had decreased by that time. 2. They did not increase sales because the production had dropped by 1 per cent. 3. We managed to maintain the demand as we had studied the mar­ket thoroughly. 4. The revenue grew as the exports had increased significantly. I wanted to read this journal. I had never read an American jour­nal or magazine. 5. I planned to visit this town last June. I had never been there before.

Read the following text and try to understand it.

The economy

The words the economy are words we hear or read almost every day. For example, we may be told that the world economy is 'in the dol­drums', or 'the European economy is making little progress out of reces­sion', or 'the UK economy is beginning to recover', or 'the Scottish economy has held up relatively well during the recent recession'.

But what is meant by the economy? What is an economy? What happens in one? How does an economy work?

The economy is a social mechanism which answers these three questions. The economy means a system for the management, use and control of the money, goods and other resources of a country, community or household.

17.Read and translate the titles speaking about:

1) the world economy, 2) the European economy, 3) the UK economy, 4) the Scottish economy

18. Answer these questions:

1) What is meant by the economy! 2) What is an economy? 3) What happens in an economy? 4) How does an economy work?

19. Complete the sentences by using the words from the text:

The economy is a social... which answers these three questions. The economy means a system for the ... of the money, goods and other resources of... .

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