Английский язык для студентов направлений подготовки 38.03.01 «Экономика» и 38.03.02 «Менеджмент». Учебно-методическое пособие

manufacture other goods and services which are consumed by the buyers. In modem civilization, the use of capital has become inevitable. Almost everything that we use is produced with the help of capital. If we destroy all capital like the railways, the motor car and other vehicles, factories, bridges and every other instrument of production, we shall become primitive again.

So the creation of capital is important. If you think that you will catch more fish by going a bit farther into the sea, you must first make a boat to sail in. If you think that more fish will be caught with the help of a net, you must then make a net. Thus the net and the boat will become your capital. You will spend a few days in making them, or if someone else has to make it for you, he will be paid for doing that work. Thus the creation of capital is a “round about” method of production.

We have to save money, again, in order to create capital. Thus the creation or formation of capital will depend upon our capacity to save. Rich people can save a lot and therefore they will invest a lot of money and become richer. The more you save, the more you can invest; and the larger the investment, the greater would be the rate of capital formation.

For the sake of convenience, the factory owners and other industrialists classify capital as fixed and circulating capital. By “fixed” capital they mean the factory building, machinery and other goods which, once purchased, remain with them for many years, and help production. “Circulating” capital means the raw materials, lubricating oils, fuel and other goods, which, though they also help production, are used up at short intervals and therefore will be purchased anew from time to time.

ТЕКСТ 7: Banking

The bank has become a characteristic institution of modern economic life. The business of the bank is to accept deposits from the public and lend money to businessmen. The banks in their modem form gradually evolved in England, where the rich men used to deposit their cash and other valuables with the goldsmith for safe custody. These goldsmiths learnt out of experience, that out of the total deposits, hardly more than ten per cent were withdrawn by the depositor on any day. Therefore, if they had kept about ten per cent reserve cash to meet the demands from the depositors, they would have loaned the remaining amounts to borrowers earning interest out of these loans. This gradually became a regular practice and they started paying a small interest to depositors to attract more deposits. Out of this system the modern institution of Banking developed.

Apart from lending and borrowing, the banks also perform some other

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functions of minor importance. For example, many banks maintain safe deposit vaults. If you hired a vault on an annual payment of a certain rent, you could keep your valuable articles there under lock and key. The bank also performs some functions like acting as a trustee, or as a custodian of property belonging to a minor and so on. It charges a small fee for rendering these services.

ТЕКСТ 8: How the Banking System "Creates" Money

The use of paper money in Western civilization began in the Middle Ages. The major forms of money in those days, gold and silver coins,

were inconvenient to carry and liable to be stolen.

To make business transactions safer and more convenient, people began depositing their coins with local goldsmiths, who gave them a written receipt in exchange for the coins. In this way, the goldsmith became a kind of medieval banker. Merchants accepted the receipts in payment for goods because they could receive the receipt for gold at the goldsmith's shop. In time, the goldsmiths' receipts became very popular with merchants and travelers who had to move large sums of money. As their use spread, the earliest form of paper money in Western Europe came into being.

The banks no doubt perform very important functions. They collect small savings of depositors and make them available for investment in trade. They also create money in the form of credit, and offer financial assistance for genuine business purposes. The bank should also keep some investments liquid enough to be cashed at any time, to meet emergencies, and the central bank should always try to help the commercial banks in times of their difficulties. If these precautions are maintained, the banking system will be very useful in the economic life of a country.

ТЕКСТ 9: The functions of the central bank

The functions of the central bank are many and of a varied character. Firstly, in relation to the large number of commercial banks, it acts as a banker. It accepts deposits from, and extends loans to the banks in the

country. The central bank is, therefore, rightly called bankers’ bank. Secondly, the central bank is the lender of the last resort, i.e., in any

emergency, if the banks of the country are not in a position to extend credit to the genuine borrowers, the central bank must come to the assistance of

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the money market and save it from a crisis.

Thirdly, the central bank is the banker of the Government. When the Government needs loans for its current requirement for short periods, the central bank is obliged to extend credit to the Government.

A further highly important function of the central bank is that of issuing currency notes. The function of issuing notes dates back to the practice of goldsmiths who accepted deposits, and issued gold certificates. These certificates were the promises on the part of the goldsmiths to pay the amount specified on it, demanded at any time, by the bearer. Some goldsmiths enjoyed great reputation among the public, and these gold certificates came to be accepted as money itself. Subsequently, when the modem banks came to be established they also continued to issue these certificates, variously called bills or notes.

Under law, the central bank is required to keep in reserve a particular proportion of gold or of foreign currency in support of the paper notes issued by it. This legal provision to maintain a reserve prevents the central bank from issuing notes without limit.

ТЕКСТ 10: What Is the Gold Standard?

First of all, what is money? Money can be anything, that is generally accepted in payment for goods and services. The money you are most familiar with, currency, consists of the paper money and coins that you use almost daily. Currency is legal tender. This means the law requires that it be accepted in payment of a debt.

From the earliest times precious metals, such as gold and silver, along with copper, have been the most popular forms of money. But they were not the only forms. As you read through history, you will discover societies that favoured things such as tobacco, fish hooks, shells and, of course, various forms of paper for their money. Although anything can serve as money, as a practical matter the material should possess the following qualities: stability, durability, recognizability, etc. Now let’s talk about the gold standard.

First some history. The gold standard was adopted in eighteenthcentury England after the master of the mint, Sir Isaak Newton, overvalued silver. In short, the gold standard obligated the central bank to exchange currency for gold at a fixed price. It was a control on monetary hankypanky, otherwise known as inflation.

The U.S. moved to a de facto gold standard in the 1830s and adopted it

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formally in 1900. Tourists who visited Washington could walk up to the Treasury Department building on Fifteenth Street and swap their bills for gold. Every bill was inscribed with the following promise: “The United States of America Will Pay to the Bearer on Demand One Dollar in Gold”. In the 1930s the U.S. dropped this pledge and replaced the inscription with a promise to “Pay to the Bearer on Demand one Dollar in Lawful Money". A puckish man from Cleveland who decided to test the government then mailed a ten-dollar bill to Washington asking to swap it for “lawful money". The wits at the Treasury Department mailed him back two Fives!

By guaranteeing a fixed exchange price for gold, the central bank basically promised not to print or coin more money (since more money would bid up the price of gold).

So far so good. From 1880 to 1914, the classic gold standard also applied internationally to offset trade surpluses and deficits. For example, if Britain had a trade deficit with the U.S., the extra British pounds that the U.S. had amassed by selling so many American goods would be exchanged for British gold. Thus, Britain would settle its trade deficit by shipping gold to the U.S. Now, watch how this repairs the trade imbalance: by collecting more gold, the U.S. would be permitted to print more money, bidding overall prices higher. Higher U.S. prices would drive down exports to Britain. Meanwhile in Britain, less gold and a smaller money supply would hurt overall demand for goods, sending prices down and making sales to the U.S. more attractive. Presto, the gold standard controlled prices and alleviated trade imbalances.

ТЕКСТ 11: Consumer rights of EU citizens

Ordinary EU citizens as consumers are key-players in the Union’s new frontier-free single market. The Union has in fact incorporated, as the basis of its consumer policy, the protection of the five fundamental rights which lie at the heart of the national policies.

These are:

1. The protection of consumers` health and safety

Only products which will not endanger health or safety may be put on the market. This means setting safety requirements, providing full information about potential risks, and protecting consumers against physical injury.

2. The protection of consumers` economic interests

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There is for example a general ban on misleading advertising and unfair terms in contracts with consumers.

3. Consumer rights to information and education

Consumers need to be put in a position where they can make an informed choice among goods and services offered. This includes objective information about their efficient and safe use.

4. The rights to redress

Consumers have the right to receive advice and help when seeking redress for faulty products or for injury or damage resulting from the use of goods and services. The procedures for settling complaints and claims should be simple, affordable and rapid.

5. Consumer representation and participation

Representatives of consumers need to be present in decision-taking procedures on issues of concern to them at local, national or EU level. At Union level, this covers not only specific consumer issues but also other relevant policy areas like food laws, transport, competition policy, financial services, and environment.

ТЕКСТ 12: The Job Interview

A job interview is your opportunity to present your talents to a prospective employer. During the interview, the employer judges your qualifications, appearance, and general fitness for the job. Equally important, the interview gives you a chance to evaluate the job, the employer, and the company. The interview helps you decide if the job meets your career needs and interests and whether the employer is the kind you want to work for.

To present your qualifications most advantageously, you have to prepare for the interview: you should know how to act in order to make the interview an opportunity to 'sell' your skills.

What makes a good interview? First, good preparation before the interview. Three simple guidelines will help you. Guideline number one is to find out as much as possible about the company where you are going for an interview. For example, you can get a lot of useful information from the сompany's catalogues. Two, find out if the interview is with one person or with a group of people, and what their jobs are. It's very useful to know something about the interviewers before you meet them. And three, make a list of the questions you want to ask at the interview. Remember, an interview is a two-way process. The company finds out as much as possible

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about you, and you find as much as possible about the сompany. So, that's what you need to do before the interview.

Now the interview itself. There are seven more guidelines to remember here.

Guideline number four: dress smartly. A suit or something formal is best. Five, arrive in good time. Arriving late for the interview is the worst thing you can do. Rule number six: create a good first impression. First impressions are very important. Start the interview with a smile and a friendly manner. Guideline number seven: stay positive and relaxed during the interview. As a rule, people don't feel relaxed, but your body language gives the interviewer much information about you. You want that information to be positive. Number eight: don't give only ''Yes'' or ''No'' answers. Talk freely about yourself, give reasons for your opinions, and explain why you're interested in the job. Nine: ask questions. Remember about the list of questions you prepared before the interview. Show you're interested! Finally, Guideline number ten: learn from the interview. Analyse the performance afterwards and think how you can improve the next time.

ДЕЛОВЫЕ ПИСЬМА ДЛЯ ПЕРЕВОДА И СОСТАВЛЕНИЯ К НИМ ВОПРОСОВ

Деловое письмо 1

PHILLIPS HYDRAULICS LTD.

6235 Phillips Industrial Park

Teaneck, New Jersey 07666

April 15, 2005

Dear Purchasing Agent:

On January, 20 we shipped you an order for four Phillips Rotary Unions at a cost of $ 355.00 each and still have not received payment, despite our attempts with previous reminder letters and phone messages. We cannot understand why you have not made the payment as yet.

As you know, Phillips has always responded quickly to your needs in the past, and we do manufacture the only industrial quality rotary unions on

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the market. We would like to continue selling you our products and add your name to the list of our satisfied customers. However, we believe that unless you settle this past - due account now, we will be unable to honour your purchase orders in the future, perhaps at a time when you might need our products the most.

Won’t you please send your payment today?

We look forward to doing further business with you.

Sincerely,

Cynthia Morgan,

Credit Supervisor

Деловое письмо 2

EKKERT PAPER COMPANY

7 Broadfield Road

Winchester,

Virginia 22601

June 12, 2010

Ms. Janet Saunders

Saunders' Office Supply

15 Bagley St.

Dayton, OH 45401

Ms. Saunders:

We are indeed disappointed that we have still not received payment from you concerning our Invoice # 44312 for $ 533.50. And, frankly we are puzzled why you have decided to conduct your credit business in a way that runs contrary to standard business practices.

We would like to believe that a Saunders' purchase order is an honest document, one that is made in good faith, like many of the others we receive daily. In fact, we believe that shipment before payment is the only way that we can satisfy your immediate sales needs. But we must insist that you uphold your end of our business relationship.

Please send us your check today.

Yours sincerely Mike Brown, Credit Manager

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Деловое письмо 3

WHEELER COACH AND TRAILER

18 Cameron Industrial Park Elkhart, Indiana 46514

April 26, 2009

Mr. John Keeps

Amdek Tool and Die

National Hwy

Elkhart, IN 465514

Dear Mr. Keeps:

Your recent application to work with us on a contractual basis regarding the well-known to you project has been given serious and careful consideration, and we appreciate your interest in Wheeler's.

In the past, we have worked very successfully with outside vendors and in fact have used this type of arrangement in meeting heavy production loads.

We have usually found that, because of changing demands, we work best with vendors who are either familiar with our operations or who have the capacity for immediate growth.

Many of our vendors have been active in the marketplace for three or more years and consequently have had a chance to get a good financial grounding.

So, Mr. Keeps, while we are unable to work with you at the present time, we would welcome the chance to again consider your services in the future.

Perhaps in six months' time we may again be able to review your quotations and begin a long and productive business relationship.

Once again, thank you for your interest in Wheeler's.

Yours faithfully,

N.P. Brown

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Деловое письмо-рекламация 4

(Sample of Letter of Complaint)

Men’s Clothes Dealers Ltd.

142 South Road

Sheffield S20 4HL

England

18th April, 2007

Ref: Our Order No. 142 of 24th March, 1997

Dear Sirs,

Thank you for your delivery of men’s silk shirts, which we ordered on 21st March, 2007. At the same time we would like to draw your attention to the following.

After examination of the shirts we discovered some manufacturing defects:

-there are oil stains on 12 shirts;

-the colour of buttons on 5 of the shirts does not match the colour of these shirts;

-one shirt is in a different style.

We are returning the defective shirts by separate mail, carriage forward, and would ask you to replace them with shirts in the colours and sizes specified below;

We would appreciate a prompt reply.

Yours faithfully,

Vladimir Smirnov

Export-Import Manager

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Деловое письмо-ответ на письмо-рекламацию 5

Visteria Ltd.

P.O. Box 82

Moscow 123123

Russia

21st April, 2007

Ref: Order No 142 of 21st March, 1997

Dear Mr. Smirnov,

Your letter of 18th April, 2007, was duly noted. The shirts you returned to us are indeed defective. We have to admit that these defects were overlooked by our controller and other apologies for the oversight.

We are sending you new shirts as a replacement this week by air, carriage paid, and would ask you to confirm their receipt by fax.

If any other problems arise, please do not hesitate to contact us.

Yours sincerely, Jack Brown

Claims Department

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ПЕРЕВОДИМ С РУССКОГО ЯЗЫКА НА АНГЛИЙСКИЙ ЯЗЫК

(Практикум)

РОССИЙСКАЯ ФЕДЕРАЦИЯ

THE RUSSIAN FEDERATION

Я хочу рассказать вам о своей стране – России, или Российской Федерации. Российская Федерация – самая большая страна в мире. Страна расположена в Восточной Европе, Северной и Центральной Азии. Страна богата разнообразной (various) флорой и фауной (flora and fauna), многочисленными реками и горами. В нашей стране много красивых озер, самое глубокое озеро Байкал находится в Сибири.

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