Literature list

Seminar 1

Topic 1 Subject and methods of the economic theory – 1 hour

1. Subject of economic theory. Three basic problems of daily living.

2. Economic theory and other disciplines. Functions of economic theory

3. Economic theory and economic policy.

Tasks for seminar 1

1.Suppose you live by yourself on an island. Which of the problems what, how and for whom would you not have to solve? How are these three problems settled within your own family?

2. Which of the following statements are positive and which are normative? Explain.

· The rate of inflation has fallen below 10 per cent per annum.

· Because inflation has fallen the government should now expand its activity.

· The level of income UK is higher than in Poland

· People in the UK are happier than people in Poland

· People should not be encouraged to drink and taxes must be kept high on alcoholic beverages.

3. Which of the following statements refer to microeconomics and which refer to macroeconomics?

· The inflation rate lower than in the 1970s.

· Food prices fell this month

· Sunny weather will mean a good harvest this year.

· The oil price shock in 1973-74 led to a great deal of inflation and unemployment

· Unemployment in the capital is lower than the national average.

Test questions on the seminar topic 1

1. Which one of the following is not one of the basic economic questions:

A. What to produce

B. Who to produce for

C. How to produce

D. How to minimize economic growth

2. The basic economic problems will not be solved by:

A. Market forces

B. Government intervention

C. A mixture of government intervention and the free market

D. The creation of unlimited resources

3. Which of the following is a normative statement in economics?

A. More spending by the government reduces poverty

B. Higher taxes lead to less desire to work

C. The economy of Kazakhstan is growing fast relative to other Central Asian countries

D. The government should concentrate on reducing unemployment

4. The sacrifice involved when you choose a particular course of action is called the:

A. Alternative

B. Opportunity cost

C. Consumer cost

D. Producer cost

5. The resources in an economy:

A. Are always fixed

B. Can never decrease

C. Always increase over time

D. Are limited at any moment in time

Literature list

1. David Begg, Foundations of Economics, McGraw-Hill Higher Education, 2009.
2. Andrew Gillespie, Foundations of Economics, OUP Oxford, 2011.
3. Principles of Economics, Karl E. Case, Ray C. Fair, Sharon Oster, Pearson Higher Education, 2011.
4. Principles of Economics, N. Gregory Mankiw, Cengage Learning, 2012
5. Stanly Fisher, Rudiger Dornbush, David Begg, Economics, 4^th edition, London, 2008
6. Камаев В.Д. и колл. Авторов, Экономическая теория, Учебник, 2010 г
7. Мусабеков С.М. Экономическая теория. Учебное пособие. Алматы. КазУМО и МЯ 2011г
8. Мұсабеков С.М., Экономикалық теория негіздері, Оқу құралы, Алматы, 2011 ж.

Internet resources

1. http://www.oup.com/uk/orc/bin/9780199586547/

Дата добавления: 2015-11-14