August 2000

15 August 2000

Dear Mr KOEZUKA

We have the pleasure to invite you to participate in the International Conference "10^th Anniversary of Antimonopoly Bodies.".

This high-level International Conference will take place in Moscow, 18-19 October 2000. It will host participants from foreign and international organizations, governmental, academic and business circles for discussion of crucial problems of competition policy and competition law.

The working languages of the Conference are Russian and English.

For further details please contact Ms Johnston (tel.: 456 899 01)

Joe Brandton

Vice-Minister

аспирантура (канд. экз.)

Экзаменационный билет (на 2 листах) по дисциплине

английский язык

(специальность: экономика и управление н/х)

Task I. Translate from English into Russian in writing using a dictionary. Your time is 45 minutes

Eco­nomics certainly does involve all the Moments stressed in these various definitions—and more.

Economists today agree on a general defini­tion something like the following:

Economics is the study of how people and society choose to employ scarce resources that could have alternative uses in order to produce various commodities and to distribute them for consumption, now or in the future, among various persons and groups in society.

Measurement in Economics

We might conclude that economics talks about many of life's practical questions. But it does more than talk: Economics is vitally concerned with the measurement of important phenomena— unemployment, prices, incomes, and so forth.

One important example of such measurement occurs in macroeconomics. As we will see in Parts Two and Three of this text, macroeconomics stud­ies the behavior of the economy as a whole— movements in overall prices or output or employ­ment. Microeconomics, in a sense, looks at the economy through a microscope—studying the behavior of an economy’s individual molecules, like firms or households.

Returning to measurement, one of the most important concepts in all economics is the gross national product (GNP). This, as Chapter 6 will discuss, represents the total dollar value of all goods and services produced each year in a nation. The GNP tells us much about the real economic performance of a country. It is the best available summary measure of the quantity of real goods and services—food, clothing, penicillin, ballet, base­ball and so forth—a country is capable of gener­ating. It tells us much about a "country's living standard, its health status, and its educational attainment.

Task II. Translate the letter from English into Russian without a dictionary. Your time is 5-7 minutes

TO: Ms Klery STAVRAKAKIS

Director

Organization of Small and Medium Sized Enterprises

5 February 2000

Dear Ms Stavrakakis

Herewith we are informing you that Mr Bogachev, Deputy Minister, who is a participant to the AZ1A FORUM 2000 in Thesallomki on February 7-8, will be in Athens on February 9 in the afternoon.

Taking the chance of being in Athens he would greatly appreciate if you could meet so as to discuss issues of mutual interest.

Please contact Mr Filimonov so as to arrange the meeting.

I thank you in advance for your kind cooperation.

Sincerely yours

Vladimir Egorov

Head, Department for International Relations

аспирантура (канд. экз.)

Экзаменационный билет (на 2 листах) по дисциплине

английский язык

(специальность: экономика и управление н/х)

Task I. Translate from English into Russian in writing using a dictionary. Your time is 45 minutes

WHAT ECONOMICS IS

As a scholarly discipline, economics is only two centuries old. Adam Smith published his pathbreaking book The Wealth of Nations in 1776, a year notable also for the Declaration of Indepen­dence. It is no coincidence that both documents appeared the same year: Political freedom from the tyranny of monarchy was closely related to emanci­pation of prices and wages from the interfering hand of state regulation.

Adam Smith, of course, represented only a beginning. In more than a century and a half that elapsed between the appearance of The Wealth of Nations and the publication of John Maynard Keynes' The General Theory of Employment, Interest and Money (1936), economics went through many stages of development. Almost at the halfway point, there appeared the massive critique of capi­talism by Karl Marx: Das Kapital (1867. followed by two posthumous volumes). More than a billion people, one-third of the world's population, live in countries where Das Kapital is economic gospel.

Definitions

On first encountering economics, people often want a short definition, in response to this demand, there is no shortage of supply. Here are a few popular definitions:

Economics is the study of those activities that involve production and exchange among people.

Economics analyzes movements in the overall economy—trends in prices, output, and unemployment. Once such phenomena are under­stood, economics helps develop the policies by which governments can affect the overall economy.

Economics is the science of choice. It studies how people choose to use scarce or limited productive resources (land, labor, equipment, technical knowledge) to produce various commodi­ties (such as wheat, beef, overcoats, concerts. roads, missiles and distribute these goods to vari­ous members of society for their consumption.

Economics is the study of how human be­ings go about the business of organizing consump­tion and production activities.

Economics is the study of money, interest rates, capital and wealth.

Task II. Translate the letter from English into Russian without a dictionary. Your time is 5-7 minutes

18 December 1998

Minister

Khodirev

Dear Minister,

I am writing today to invite you to our 9^th International Conference on Competition, which will be held on 10 and 11 May 1999 at the Hotel Inter­continental Berlin.

The subject of the 9^th International Conference on Competition is:

I would be very pleased to welcome you to Berlin as a participant at our 9^th International Conference on Competition. A simultaneous translation service will be available in German, English and French.

Yours sincerely,

Wolf

President.

аспирантура (канд. экз.)

Экзаменационный билет (на 2 листах) по дисциплине

английский язык

(специальность: экономика и управление н/х)

Task I. Translate from English into Russian in writing using a dictionary. Your time is 45 minutes

An investment company, which is, broadly, a company whose income over a representative period is principally derived from the making or holding of investments, which is the company's purpose or objective, can deduct the expenses of managing its investments, together with any charges on income paid for business purposes, from its total profits for corporation tax purposes. Any excess forms part of the management expenses of the next accounting period. Its management expenses and charges on income (after deducting current profits) can also be sur­rendered by way of group relief.

As in the case of a trading company, remuneration is not deductible as a management expense in the period it is charged unless paid within nine months (18 months in the transitional period) following the end of the period. The rules relating to trading companies in this context apply equally to investment companies.

An investment company cannot obtain tax relief for short interest (i.e. interest paid on a loan not capable of exceeding 12 months), unless paid to a UK bank, although relief is available for discounts on bills of exchange drawn by a company and accepted by a bank and discounted by a bank or discount house. Relief is also available as charges on income for recurrent payments under currency and interest rate swaps (see also 3.8 above).

In view of the somewhat restricted meaning of the term 'management expenses', it is normally preferable for the expenses of a group manage­ment company to be recovered (at an uplift) from the subsidiaries by way of a service fee.

Task II. Translate the letter from English into Russian without a dictionary. Your time is 5-7 minutes

February 25, 2000

Mr. Alexander

President

MICEX

Moscow RUSSIA

Dear Mr. Zakharov:

Please find enclosed the draft Joint Statement on Technical Assistance which I received yesterday from the U.S. Trading Commission.

We understand that your office will undertake to forward this document to Chairman Parmenkov.

If the Russian Party finds the proposal acceptable, we should notify Ms. Corcoran of that fact.

We look forward to your future communications on this matter. Best regards.

Sincerely,

Jeffrey A. Burt