The course “Lexicology of the English Language” refers to the module of specialty disciplines, being one of the fundamental philological disciplines. The importance of English Lexicology is based not on the size of its vocabulary, however big it is, but on the fact that at present it is the world’s most widely used language. The theoretical value of lexicology becomes obvious if we realize that it forms the study of one of the three main aspects of language, i.e. its vocabulary, the other two being its grammar and sound system.