For the 2nd year extramural students of economics

Read and translate the text. Make a list of the main terms.

The economist's profession

An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophical theories to the focused study of minutiae within specific markets, macroeconomic analysis, microeconomic analysis or financial statement analysis, involving analytical methods and tools such as econometrics, statistics, economics computational models, financial economics, mathematical finance and mathematical economics.
The professionalization of economics, reflected in academia, has been described as "the main change in economics since around 1900." Economists debate the path they believe their profession should take. It is, primarily, a debate between a scholastic orientation, focused on mathematical techniques, and a public discourse orientation, which is more focused on communicating to lay people pertinent economic principles as they relate to public policy. Surveys among economists indicate a preference for a shift toward the latter. However, these preferences expressed in private often differ with what is actually acted out in the public eye.

For the 2nd year extramural students of economics

Read and translate the text. Make a list of the main terms.

THE SOURCES OF INCOME

Before people can consume anything, however, they must do two things. First they must earn the income to buy the things they want. Then they must decide how the money will be spent. There are two ways to earn income: from work and from the use of wealth.

Income From Work

Most of the income comes from work. In return for working, people receive a wage or a salary. The term «wage» typically refers to the earnings of workers paid by the hour or unit of production. «Salary» refers to earnings paid on a weekly or monthly basis. How much you earn will depend on the kind of job, the abilities, the performance, and a number of other factors.

Income From Wealth.

Wealth can be expressed as the value of the things you own. Adding the value of all your possessions, bank accounts, savings, and the like will give you the total amount of your wealth.

Used in certain ways, wealth can earn income. If you owned a house, you might be able to let others use it for a fee. In that instance economists would say that you used your wealth to earn «rent.» Wealth, in the form of money that is loaned to others or deposited in a savings account, will earn interest. As you can see, interest and rent are two forms of income that can be earned by wealth.

Other types of income are dividends and capital gains that can be generated from the wealth.

Task for the extramural students of law department

Read the text, paying attention on the legal terms. Translate it and be ready to give a summary.

STATE SYSTEM OF THE RUSSIAN FEDERATION

The Russian Federation is set up by the constitution of 1993.
Under the Constitution Russia is a presidential republic. The federal government consists of three branches: legislative, executive and judicial. Each of them is checked and balanced by the President.
The legislative power is vested in the Federal Assembly. It consists of two chambers. The Upper Chamber is the Council of Federation; the Lower Chamber is the State Duma. Each chamber is headed by the Speaker. Legislature may be initiated in either of the two Chambers. But to become a law a bill must be approved by both Chambers and signed by the President. The President may veto the bill. Russia is a democratic federative state based on rule of law and a republican form of government. State power in Russia is exercised by the President, the Federal Assembly, the Government and the courts.
One of the basic principles of constitutional government is the division of powers. In accordance with this principle, power must not be concentrated in the hands of one person or one institution, but must be divided among the legislative, executive and judicial branches of power. The division of powers requires that there be a clear delineation of responsibilities and a system of checks and balances so that each branch of power can offset the others.

For the 1st year extramural students of economics

Read and translate the text. Write out the main terms, describing the Dagestani economy.

The economy of Dagestan

The major industries in Dagestan include oil production, engineering, chemicals, machine building, textile manufacturing, food processing, and the timber. Oil deposits are located in the narrow coastal region. The Dagestani oil is of high quality, and is delivered to other regions. Dagestan's natural gas production goes mostly to satisfy local needs. Agriculture is varied and includes grain-farming, viticulture and wine-making, sheep-farming, and dairying. The engineering and metalworking industries own 20% of the republic's industrial production assets and employ 25% of all industrial workers. Dagestan's hydroelectric power industry is developing rapidly. There are five power plants on the Sulak River providing hydroelectric power. It has been estimated that Dagestan's total potential hydroelectric power resources are 4.4 billion kW. Dagestan has a well-developed transportation system. Railways connect the capital Makhachkala to Moscow, Astrakhan, and the Azerbaijani capital, Baku. The Moscow-Baku highway also passes through Dagestan, and there are air links with major cities.

For the 1st year extramural students of economics

Read and translate the text. Write out the main terms, describing the Russian economy.

The economy of Russia

The economy of Russia is the eighth largest economy in the world by nominal value and the sixth/ fifth largest by purchasing power parity (PPP).
The Russian economy is currently labeled a developing one by the International Monetary Fund and the World Bank. The country has an abundance of natural resources, including timber, precious metals, and particularly fossil fuels (oil, natural gas, and coal) that can be developed without the constraint of OPEC production quotas and other rules (Russia is not an OPEC member).
In recent years, Russia's oil and gas production and pipeline projects have been not only a primary source of Russia's economic growth but also a geostrategic lever in the country's relationship with Europe and Asia.

Interpretation of a Text

Dear sophomores!

Here is useful information about the Interpretation of a Text

1. Speak of the author in brief.

- the facts of his/her biography relevant for his/her creative activities

- the epoch (social and historical background)

- the literary trend he/she belongs to

- the main literary pieces (works)

2. Give a summary of the extract (story) under consideration (the gist, the content of the story in a nutshell).

3. State the problem raised (tackled) by the author.

4. Formulate the main idea conveyed by the author (the main line of the thought, the author's message).

5. Give a general definition of the text under study.

- a 3rd person narrative

- a 1st person narrative

- narration interlaced with descriptive passages and dialogues of the personages

- narration broken by digressions (philosophical, psychological, lyrical, etc.)

- an account of events interwoven with a humorous (ironical, satirical) portrayal of society, or the personage, etc.