Фінанси

Active vocabulary

statement твердження

prominent видатний

to achieve objective досягати мети

field high in demand галузь, що користається великим попитом

perspective перспектива

scientific evidence наукові факти

to resolve the problem вирішити проблему

to face the problem зштовхнутися з проблемою

transition to the market перехід до ринку

ultimate objective кінцева, головна мета

endeavour старання, пильність

major in Economics вивчати економіку, як основний предмет

solid background міцна підготовка

challenge проблема, складне завдання

to underestimate недооцінювати, нехтувати

sound expertise міцні, спеціальні знання, компетентність

to survive вижити

challenging environment середовище, що пред'являє великі вимоги

persistence завзятість

MY FUTURE SPECIALITY

I fully agree with the statement that what we are now is the result of our own choice. My main life choice was made when I entered Kyiv National Economic University, a prominent economic establishment of higher learning.

My decision to get education in economics was planned well in advance.

I have chosen economics not only because of its great role in our life. As a member of society in which you live, there is no way escaping economics. The study of economics will help you to understand the society and its economic forces better and enable you to live a fuller life.

Besides I am eager to realise intellectual potential that I feel I possess. This objective could be best achieved by building a successful, intellectually - rewarding career in one of the fields high in demand. From this perspective, economics was my natural choice as an exciting and rewarding discipline that is between the natural sciences and humanities, offering the potential for an unusually strong mix of scientific evidence and theoretical argument. Furthermore , modern economic techniques are absolutely essential to resolving the problems faced by the former centrally planned economies in their transition to the market.

I believe that a necessary and the most logical way to contribute to the economic development in my home country is to acquire educational qualification levels of Bachelor, Specialist and Master of Science in Economics. These degree programmes in economics are professionally - oriented and require five or six years of study.

The ultimate objective of this educational endeavour is to obtain knowledge and skills comparable to those of other prospective graduate students who major in Economics at the various European and US universities. The task of building a solid background in economic theory turned out to be a real challenge.

In the view of the above-mentioned the role of foreign languages should not be underestimated. The main purpose of teaching a foreign language at the university is to train specialists capable to make practical use of the foreign language by reading and understanding English books in their speciality, exchanging and acquiring information, co-operating on specific problems with specialists form other countries.

I believe that rapid changes in industrial and market structure in the economy of our country will greatly increase demand for highly skilled specialists with sound expertise in this area, thus providing an opportunity for a successful career in both private and public sectors.

I am very grateful to my Alma Mater for teaching me how to survive in a highly competitive and challenging environment through persistence and hard work.

EXERCISES

1. Paraphrase or explain the following word combinations

• economic establishment of higher learning

• to plan well in advance

• there is no way escaping economics

• acquire educational qualification

• to be a challenge

• competitive and challenging environment

• educational endeavour

• solid background

2. Find in the text English equivalents to the following words and word combinations. Make sentences of your own with these phrases:

Твердження; мати інтелектуальний потенціал; досягати мети; галузь , що користується попитом; наукові факти; сучасні економічні технології; вивчати економіку, як основний предмет; зштовхнутися з проблемою; кінцева, головна мета; перехід до ринку; міцні, спеціальні знання, компетентність; середовище, що пред'являє великі вимоги.

3. Fill in the blanks with the proper words and phrases from the box:

Building; statement; the main purpose; a solid background; a highly competitive; transition to the market; our own choice; sound expertise; highly skilled specialists; modern economic techniques; objective; career; scientific evidence; to make practical use; challenging environment.

1. I fully agree with the … that what we are now is the result of … .

2. This … could be best achieved by … a successful, intellectually- rewarding … in one of the fields high in demand.

3. Economics is between the natural sciences and humanities, offering the potential for an unusually strong mix of… and theoretical argument.

4. … are absolutely essential to resolving the problems faced by the former centrally planned economies in their … .

5. The task of building … in economic theory turned out to be a real challenge.

6. … of teaching a foreign language at the university is to train specialists capable … of the foreign language.

7. Rapid changes in industrial and market structure in the economy of our country will greatly increase demand for …with …in this area.

8. I am very grateful to my Alma Mater for teaching me how to survive in … and … through persistence and hard work.

IV. Match verbs and nouns as they occur in the text and translate them into Ukrainian

to make	economics
to acquire	the economic development
to resolve	educational qualification level
to contribute to	specialists
to train	knowledge and skills
to obtain	an environment
to turn out to be	the statement
to agree with	professionally oriented
to be	a real challenge
to major in	the problem
to survive in	life choice

4. Answer the following questions:

1. What criteria do you think people use when they choose their future profession?

2. What has inspired you to choose this profession?

3. What is your future speciality?

4. How long does the course of study last in your university?

5. How do you plan to become a skilled graduate out of a green freshman?

6. Are social sciences and foreign languages in the focus of the economist curriculum nowadays?

7. What subjects do you consider to be the most important for you to gain your professional skills?

8. Will the knowledge of foreign language promote your career?

9. What kinds of companies can employ you?

10. What occupation would you like to hold?

11. Are you ready for the hardships which go together with this job?

12. Are people who have economics training in demand in modern society?

13. Why is economist’s education never really finished?

5. Ask questions to give the following answers:

1. Q.: ………………………………………………

A: My main life choice was made when I entered Kyiv National Economic University, a prominent economic establishment of higher learning.

2. Q.: ……………………………………………….

A.:The study of economics will help me to understand the economic forces better and enable to live a fuller life.

3. Q.: …………………………………………………

A.: This objective could be best achieved by building a successful, intellectually- rewarding career in one of the fields high in demand.

4. Q.: …………………………………………………

A.: I believe that a necessary and the most logical way to contribute to the economic development in my home country is to acquire educational qualification levels of Bachelor, Specialist and Master of Science in Economics.

5. Q.: ……………………………………………………..

A.: These degree programmes in economics are professionally - oriented and require five or six years of study.

6. Q.: ………………………………………………………

A.: My ultimate objective is to obtain knowledge and skills comparable to those of other prospective graduate students who major in Economics at the various European and US universities.

7. Q.: ………………………………………………………

A.: The task of building a solid background in economic theory turned out to be a real challenge.

8. Q.: ………………………………………………………

A.: The main purpose of teaching a foreign language at the university is to train specialists capable to make practical use of the foreign language .

9. Q.: ………………………………………………………

A.: I believe that rapid changes in industrial and market structure in the economy of our country will greatly increase demand for highly skilled specialists with sound expertise in economics.

10. Q.: ………………………………………………………

A.: I am very grateful to my Alma Mater for teaching me how to survive in a highly competitive and challenging environment through persistence and hard work.

2. Read the text once again, and summarise it in 50 words

Financial management

Learn the following words and word combinations.

Finance 1. n 1) pl фінанси, доходи 2) фінансова справа

1. v. 1) фінансувати 2) займатися фінансовими операціями

financial a 1) фінансовий; 2) грошовий

financier n фінансист

Negotiate v 1) вести переговори, домовлятися (with); обговорювати умови

2) продавати, реалізовувати (вексель) 3) вести справу

negotiation n переговори; обговорення умов

negotiant n негоціант, купець, оптовий купець

negotiator n 1) особа, яка веде переговори 2) посередник

Compete v 1) змагатися, 2) конкурувати (with - з кимсь; for- за ради чогось) 3) приймати участь у змаганні

competition n 1) змагання, 2) конкуренція, 3) конкурс, конкурсний іспит

competitive a 1) змагаючийся, конкуруючий, конкурентноздатний 2) конкурсний

competitor n конкурент; суперник

Revenue n 1) річний доход (особл. держ.) 2) pl прибуткові статті 3) департамент державних зборів 4) attr. митний; ~ officer митний урядовець

Expense n 1) витрата, втрата 2) стаття витрат 3) ціна

Profit n 1) користь 2) (часто pl) прибуток доход v 1) приносити користь 2) отримувати користь

Exceed v 1) перевищувати 2) перебільшувати

Fiscal a фіскальний; фінансовий

FINANCIAL MANAGEMENT

In the past, financial management was not a major concern for a business. A company used to establish relations with a local bank. The bank handled the financing and the company took care of producing and selling.

Today only a few firms operate in this way. Usually businesses have their own financial managers who work with the banks. They negotiate terms of financial transactions; compare rates among competing financial institutions. Financial management begins with the creation of a financial plan. The plan includes timing and amount of funds and the inflow and outflow of money.

The financial manager develops and controls the financial plan. He also forecasts the economic conditions, the company's revenues, expenses and profits.

The financial manager's job, starts and ends with the company's objectives. Me reviews them and determines the funding they require. The financial manager compares the expenses involved to the expected revenues. It helps him to predict cash flow. The available cash consists of beginning cash plus customer payments and funds from financing.

The financing manager plans a strategy to make the ending cash positive. If cash outflow exceeds cash inflow the company will run out of cash. The solution is to reduce outflows. The financial manager can trim expenses or ask the customers to pay faster.

The financial manager also chooses financing techniques. One of them is short — term financing. Another is long term financing.

At the end of the fiscal year the financial manager reviews the company's financial status and plans the next year's financial strategy.

1.Paraphrase or explain the following word combinations:

• to negotiate terms of financial transaction;

• to determine the funding;

• expected revenues;

• to run out of cash;

• to trim expenses

2.Find in the text English equivalents to the following words and word combinations. Make the sentences of your own with these phrases.

• керувати фінансуванням;

• домовлятися про умови фінансових угод;

• порівнювати ставки;

• серед конкуруючих фінансових установ;

• фінансовий план;

• встановлення часу;

• надходження грошових коштів;

• витрачання грошових коштів;

• доход;

• прибуток;

• цілі компанії;

• залучені витрати;

• рух грошових коштів;

• короткострокове та довгострокове фінансування.