GLOSSARY. · Advertising –any paid form of non-personal communication through the mass media about a product by an identified sponsor.

· Advertising – any paid form of non-personal communication through the mass media about a product by an identified sponsor.

· Advertisement /advert/ad – an announcement in a newspaper, on television, or on a poster about something such as a product, event, or job.

· Brief – a statement of the objectives of the advertising campaign.

· Classified advertisements (also classifieds or want ads) – small adverts placed in a newspaper.

· Commercials – advertisements on the radio and TV.

· Descriptive advertising – gives the most important facts about the product.

· Institutional or prestige advertising – a form of advertising which is designed to build up their reputation rather than to sell particular products.

· Junk mail is advertisements that you receive through the post, which you have not asked for and which you do not want.

· Media plan specifies which media – newspapers, magazines, radio, television, cinema, posters, mail, etc. – will be used and in which proportions.

· Persuasive advertising – tries to persuade people that the product which is being advertised has a special quality or usefulness which makes it much better than other similar products.

· Spam is unwanted e-mail advertisements sent to a large number of people.

· Word-of-mouth advertising – a form of advertising whenpeople tell their friends about the benefits of products or services that they have purchased.

ЛитературА

1. Князева, Н. И. Экономика. Шаг за шагом: в 3 ч. / Н. И. Князева [и др.]. Мн.: БГУ, 2000.

2. English for Business. A Functional Approach. DP Publications LTD, 1995.

3. Horner, D. Words at Work / D. Horner, P. Strutt. CUP, 1998.

4. Jones, L. International Business English / l. Jones, R. Alexander. CUP, 1994.

5. Mac Kenzie, I. English for Business Studies / I. Mac Kenzie. Cambridge University Press, 2000.

6. MacConnel, C. Macroeconomics / C. MacConnel, S. Brue. McGraw-Hill, Inc, 1990.

7. Mankiew, N. Essentials of Economics / N. Gregory Mankiew. Harcourt College Publishers.

8. Market Leader. Intermediate Business English Course. David Cotton, David Falvey, Simon Kent, Oxford University Press, 2003.

9. Parkin, M. Macroeconomics / M. Parkin. Addison–Wesley Publishing Company, 2002.

10. Sue, R. Business Vocabulary in Practice / R. Sue. Harper Collins Publishers, 2003.

11. Tucker, I. Survey of Economics / I. Tucker. South Western College Publishing, 2001.

12. Wallace, W. Kravitz. Bookkeeping, the Easy Way / W. Kravitz Wallace. Mineola, New York.

CONTENTS

ПРЕДИСЛОВИЕ…………………………………………………………………………...3

1. Profession of an Economist................................................................. 5

2. ECONOMICS AS A SCIENCE………………………………………………….….23

MICROECONOMICS............................................................................................. 41

3.1. SUPPLY AND DEMAND....................................................................................... 41

3.2. MARKET STRUCTURE.......................................................................................... 57

MACROECONOMICS........................................................................................... 72

4.1. BASIC NATIONAL ECONOMY INDICATORS................................................. 72

4.2. ECONOMIC BUSINESS CYCLES AND UNEMPLOYMENT........................... 88

4.3. INFLAtion........................................................................................................... 104

4.4. BANKING ………………………………………………………………………..120

4.5. MONEY AND MONETARY POLICY................................................................ 140

4.6. FISCAL POLICY................................................................................................... 155

THE GLOBAL ECONOMY................................................................................ 170

INTERNATIONAL TRADE.................................................................................... 170

GLOBALIZATION.................................................................................................. 186

BUSINESS ADMINISTRATION..................................................................... 201

6.1. COMPANY STRUCTURE.................................................................................... 201

6.2. MANAGEMENT................................................................................................... 221

6.3. ACCOUNTING...................................................................................................... 243

6.4. MARKETING......................................................................................................... 262

6.5. ADVERTISING...................................................................................................... 280

ЛИТЕРАТУРА……………………………………………………………..................294

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