1. WHAT IS ECONOMICS? WHY ARE YOU STUDYING ECONOMICS?

2. www.learn-english-today.com ► ► Videophile ► ► Person who is very interested in watching videos and making recordings, and values high-quality results ► ► Screenager ► ► A young person or teenager who spends a lot of time in front of the computer screen. ► ► Netizen ► ► Blend of 'internet' and 'citizen'. A person who spends an excessive amount of time on the Internet ► ► Infotainment ► ► Blend of 'information' and 'entertainment'. Online services connected to information and leisure activities.

3. Watch the videos and think about the reasons for your study. reasons for your study. ► ► http://www.youtube.com/watch?v=XGhcJjIfwhY http://www.youtube.com/watch?v=XGhcJjIfwhY ► ► – Why you should study economics ► ► http://www.youtube.com/watch?v=MMJR_ewHs8o&feature=related http://www.youtube.com/watch?v=MMJR_ewHs8o&feature=related ► ► – Why am I studying economics?

4. http://www.youtube.com/watch?v=1Bu7QmyfhJ8&feature=related Watch the film and insert the missing words: Areas of interest to economists are: p_____________________ the S__________ market business and __________ market international __________ d__________________ t_____________ advance Economists look for solutions to problems arising from the movement of ___________, ___________, and ______________. They use economic _______________ and _________________ techniques to research issues such as energy ________, __________, interest ________, ___________ and _____________ volumes and ______________ trends. Economists need to be able to collect __________, to write up their _______________ and recommendations. Economics with its reliance on ___________ and ________________has been called the dismal science. It studies how humanity creates ____________ and ________________.

5. ► Everyday decisions: the clothes you buy, the car you drive, the fact that you are taking this course > economic impact ► We already are economic “players” ► the study of economics helps you become an informed “player”

6. ECONOMICS  the study of how individuals and governments allocate scarce resources in an attempt to satisfy unlimited wants an attempt to satisfy unlimited wants

7. ► People’s wants are unlimited ► The resources to satisfy these wants are limited ► People and governments are willing to exchange (trade off) to satisfy the wants

8. COMPLETE THE BLANKS WITH THE FOLLOWING WORDS: ► ► economic, economical, economics, to economise, economy ► ► ____________________ is the oldest in social sciences. ► ► Strikes were damaging the country’s ___________________. ► ► It is usually more _________________ to buy large quantities. ► ► A decrease in the _____________ growth was recorded last month. ► ► Many countries tried to ________________ on fuel.

9. ► ► RB: p.10,11