HISTORY OF ECONOMICS
1. In the 1500s there were few universities. They taught religion, Latin, Greek, philosophy, history and mathematics. None of them taught economics. Then came the Enlightenment (about 1700) in which reasoning replaced God as the explanation of the existing world. Enlightenment scholars find answers to many questions facing the society in the nature of land ownership.
2. Such explanations required more knowledge. So, soon philosophy was subdivided into science and philosophy. In the 1700s, the sciences were split into natural sciences and social sciences. The amount of knowledge continued to increase and in the late 1800s and early 1900s social science itself split into economics, political science, geography, sociology, anthropology and psychology.
3. Many of the insights about how the economic system works were described in Adam Smith’s “The wealth of nations”, published in 1776. Adam Smith himself could be classified as an anthropologist, a sociologist, a political scientist and a social philosopher. And this book of his had been written before economics as a sub discipline was developed.
4. In the 18 and 19 centuries Adam Smith, Thomas Malthus, John Stuart Mill, David Ricardo and Karl Marx were more than economists: they were social philosophers who covered all aspects of social science. These writers were later called classical economists. Alfred Marshall’s book “Principles of economics” was published in the late 1800s and was focused on the questions of “supply – demand” framework. In doing so he began what is called neo-classical economics.
5. For a while economics was lost in itself. Marshall’s analysis was downplayed and the work of more formal economists of the 1800-s (such as Leon Walras, Francis Edgeworth and Antoine Courrot) was seen as the basis of the science of economies. Economic analysis that only focuses on formal interrelationships is called Walrasian economics.
6. At present it is a common knowledge that economics is the study of the way in which mankind organizes itself to solve the basic problem of scarcity. Economics is divided into two major branches: macroeconomics and microeconomics. The former is the study of behavior of the economy as a whole, while the latter is the study of behavior of individual units within the economy. So, are you sure economics will be an interesting subject for you to study?
Ex. 1 Определите, соответствуют ли данные предложения тексту или нет (True/False)
1. In the 1500s there were few universities that taught economics. (false)
2. Many of the insights about how the economic system works were described in Adam Smith’s “The wealth of nations” in 1776. (true)
3. Economic analysis that only focuses on formal interrelationships is called Marshall’s economics. (false)
4. Economics is divided into two major branches: macroeconomics and microeconomics..(true)
Ex. 2 Выберите правильный вариант ответа на следующие вопросы в соответствии с текстом.
1. When did economics as a science appear?
А. In the 1500s.
B. In the late 1800s and early 1900s.
C. About 1700.
2. Who wrote “The wealth of nations”?
A. Adam Smith.
B. Thomas Malthus.
C. Karl Marx.
3. What is macroeconomics?
A. The study of behavior of the economy as a whole..
B. The study of behavior of individual units within the economy.
C. Both of the above.
Ex. 3 Выберите правильный вариант перевода.
1. Then came the Enlightenment (about 1700) in which reasoning replaced God as the explanation of the existing world.
А. Затем пришло Просвещение (около 1700), в котором доказательство заменило Бога как объяснение существующего мира.
B. Затем наступила эпоха Просвещения (около 1700), в которой здравый смысл заменил Бога как объяснение существующего мира.
C. Затем наступила эпоха Просвещения (около 1700 года), когда доказательство заменило Бога при объяснении существующего мира.
2. The amount of knowledge continued to increase and in the late 1800s and early 1900s social science itself split into economics, political science, geography, sociology, anthropology and psychology.
А. Количество знаний продолжало расти и в конце 1800-х – начале 1900-х общественные науки разделились на экономику, политические науки, географию, социологию, антропологию и психологию.
B. Количество знаний продолжало расти и в позднем 1800-м – раннем 1900-м общественные науки разделились на экономику, политические науки, географию, социологию, антропологию и психологию.
C. Количество знаний продолжало расти и в конце 1800-х – начале 1900-х социальные науки сами раскололись на экономику, политическую науку, географию, социологию, антропологию и психологию.
3. In the 18 and 19 centuries Adam Smith, Thomas Malthus, John Stuart Mill, David Ricardo and Karl Marx were more than economists: they were social philosophers who covered all aspects of social science.
A. В 18-м и 19-м веках Адам Смит, Томас Малтус, Джон Стюарт Милль, Дэвид Рикардо и Карл Маркс были больше чем экономистами: они были социальными философами, которые охватывали все стороны общественных наук.
B. В 18-м и 19-м веках Адам Смит, Томас Малтус, Джон Стюарт Милль, Дэвид Рикардо и Карл Маркс были больше чем экономистами: они были социальными философами, которые покрывали все аспекты общественных наук.
C. В 18-м и 19-м веках Адам Смит, Томас Малтус, Джон Стюарт Милль, Дэвид Рикардо и Карл Маркс были больше чем экономистами: они были социальными философами, которые закрывали все аспекты социальных наук.
Ex. 4 Вставьте в предложения слова в соответствии с текстом.
1. In the 1500s there were __________ universities.
A. few
B. a few
C. the few
2. Enlightenment scholars find answers to many questions facing the society in the nature of land _________.
A. possession
B. partnership
C. ownership
3. Alfred Marshall’s book “Principles of economics” was focused on the questions of ____ framework and finance of the US.
A. “production-distribution”
B. “buy-sell”
C. “supply – demand”
4. Economic analysis that only __________ on formal interrelationships is called Walrasian economics.
A. concentrates
B. focuses
C. deals
5. Economics is the study of the way in which mankind organizes itself to solve the basic problem of __________.
A. demand
B. excess
C. scarcity