8. R ead the jokes, translate and retell:

• A little boy wanted $100 and prayed for two weeks but nothing happened. Then he decided to write a letter to the Lord requesting the $100. When the postal authorities received the letter addressed to the Lord, USA, they decided to send it to President of the USA. The President was so impressed, touched, and amused that he instructed his secretary to send the little boy a $5.00 bill, as this would appear to be a lot of money to a little boy. The little boy was delighted with the $5.00, and sat down to write a thank-you letter to the Lord. It said: «Dear Lord, Thank you very much for sending me the money. However, I noticed that for some reason you had to send it through Washington, DC and as usual, they deducted $95».

• A doctor had been attending a rich old man for some time, but it became apparent that the old chap had not long to live. Accordingly, the doctor advised his wealthy patient to put his affairs in order. «Oh yes, I’ve done that», said the old gentleman. «I’ve only got to make a will. And do you know what I m going to do with all my money? I m going to leave it to the doctor who saves my life».

9. Translate and comment on the quotations:

• Never spend your money before you have earned it. Thomas Jefferson

• Always borrow money from a pessimist, he doesn't expect to be paid back. Author Unknown

• Lack of money is the root of all evil. George Bernard Shaw

• There's nothing in the world so demoralizing as money. Sophocles

• Lack of money is the root of all evil. George Bernard Shaw

10. Make the sentences interrogative and negative:

1. Money is any object or record that is generally accepted as payment for goods and services.

2. The history of money spans thousands of years.

3. Money often costs too much.

4. Each country has its own basic unit of money.

5. The value of money resulted from the fact that it was accepted by everyone.

6. Money has become one of the main things in our modern life.

7. Some people live their lives to earn money.

8. Governments print paper money and make coins at a special place called a mint.

9. Сoins came into use less than three thousand years ago.

11. Write down the words you associate with banks. Compare your words with your groupmates.

12. Agree or disagree:

1. A bank is a place that will lend you money if you can prove that you don't need it.

2. A bank connects customers that have capital deficits to customers with capital surpluses.

3. Banks don't provide any financial services.

4. Most banks are profit-making state enterprises.

5. The definition of a bank varies from country to country.

6. Bank account is considered indispensable by most businesses and individuals.

7. A bank can generate revenue in a variety of different ways including interest, transaction fees and financial advice.

8. Banks don’t face a number of risks in order to conduct their business.

13. Read and translate the text. Use dictionaries to find the meanings of unknown words: Banks

A bank is a financial institution that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers that have capital deficits to customers with capital surpluses.

Due to their critical status within the financial system and the economy generally, banks are highly regulated in most countries. Most banks operate under a system known as fractional reserve banking where they hold only a small reserve of the funds deposited and lend out the rest for profit.

The oldest bank still in existence is Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472.

Banks act as payment agents by conducting checking or current accounts for customers, paying cheques drawn by customers on the bank, and collecting cheques deposited to customers' current accounts. Banks also enable customer payments via other payment methods such as Automated Clearing House (ACH), Wire transfers, EFTPOS, and automated teller machine (ATM).

Banks borrow money by accepting funds deposited on current accounts, by accepting term deposits, and by issuing debt securities such as banknotes and bonds. Banks lend money by making advances to customers on current accounts, by making installment loans, and by investing in marketable debt securities and other forms of money lending.