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we have to do is make sure we know what these are and take into account all
the possible 4___________________.
I: But do economics and finance work in the same way as weather conditions
or the movement of plants?
A: Well, no, of course not – but there are certain underlying
5_____________. In the past, people thought of these things as “linear sys-
tems”, now we know they’re not.
23 Listen to the third part of the interview and answer the questions.
• What is the difference between linear and non-linear systems?
• What does chaos theory teach us?
I: What do you mean by “linear system”?
A: Well, for example, in a classic linear system, ………………
…………………………………………………………………………………
I: Sounds complicated!
A: Yes, well, it is complicated, there’s no escaping that! However, a lot of
what chaos theory teaches us is simply about……………………………...
We have to accept uncertainty. We can’t guarantee that things will turn out as
we planned them when working with complex, non-linear systems - nor
sometimes with simple systems!
24 For-and-against discussion. Divide the roles and give your
arguments. Use articles in Activities 10, 15.
Student 1 believes that economics is very important.
Student 2 thinks that economics is very inexact science and cannot help.
25 Read the text and complete the charts to classify economics
subdivisions according to different criteria.
1 Economics 2 Economics 3 Economics
The field of economics may be divided in several different ways, most
popularly microeconomics (at the level of individual choices) versus
macroeconomics (aggregate results). Today there is a view that good
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