Reading and speaking

Date: 2015-10-07; view: 397.

A Russian Expert

Alfred Marshall Thomas Malthus Adam Smith

David Ricardo John Maynard Keynes Karl Marx

1. His book “The Wealth of Nations” showed the power of the “invisible hand” of the market.

2. He developed the theory of comparative advantage.

3. His principles of economics brought the ideas of supply and demand, marginal utility and the costs of production into a coherent whole. He developed the concepts of consumer surplus.

4. The “father of modern macroeconomics” and author of “The General Theory of Employment, Interest and Money” book.

5. His Essay on the Principle of Population predicted that population growth would drive living standards toward the subsistence level.

6. He believed that all production belongs to labor because workers produce all value within society.

7. You are going to read a summary of the life of a famous economist and answer the questions. Put the verbs in brackets into the past simple. Guess who this man was.

“I (be born) in Moscow in 1956 into a prominent intellectual family. Both my grandfathers (be) well-known authors.

I (graduate) from Moscow State University in 1978 and (receive) a doctorate in economics in 1980. After several years as a researcher in various economic institutes, I (become) a journalist.

I (begin) my political career in 1991, taking the post of Deputy Chairman of the Government of Russia, in charge of matters of economic policy.
In the autumn of 1991, at the age of 35, I (have) to deal with the collapse of the Soviet economy as I (be appointed) Finance Minister. In 1992 I (undertake) some economic reforms to save the country from collapse, but (become) a hate figure for many ordinary Russians because my reforms (result) in an increase in prices and (lead) to hyperinflation. Moreover, I was often criticized for the privatization.

From 1993 to 2004 I (be) a member of the Russian Duma, where I (take) an active role on the budget and fiscal policy committee. Even after leaving office, I (continue) to advise the government.”

1.When was he born?

2.Where did he study?

3.Where did he work?

4.What duties was he in charge?

5.Did people like him as a reformer? Why?

6.What is this man famous for?

8. What facts do you know about the lives of other famous economists? Answer the questions in 7 for a man in economics you know well and speak about this person.