Добавил:
ivanov666
Опубликованный материал нарушает ваши авторские права? Сообщите нам.
Вуз:
Предмет:
Файл:The world of business. Tutorial
.pdf
51
9. I’m ..... at the moment. Can you lend me ten pounds until the weekend?
a) bankrupt
b) wealthy
c) ruined
d) broke
Exercise 6. Fill in the gaps in the following texts using the words from the
list:
a) pennie, clerk, account, quarters, credit card, dimes, denominations, sign,
purchase, charge.
American money comes in coins worth 1 (….), 5 (nickels), 10 (….),
25 (….), and 50, though half dollars aren’t very common. Paper money is in
…. of 1, 5, 10 and 20 dollars. Two, fifty and one-hundred dollars bills exist,
but they are not common, so don’t be surprised if a store …. looks very
closely at a hundred dollar bill to make sure it’s real.
When you pay for something with your …., the salesman will take
your card and fill out a form using a computer. He will ask you to …. the
form and then give you a copy. The credit card company will send you a
bill once a month, showing the …. you’ve made.
If you write a personal cheque and it bounces, you’ll have to pay
the bank a high service …. . So be sure you have enough money in your
bank …. to cover any cheques you write.
b) disadvantages, convertible, prices, exchange, trade, supply, deflation,
currency, gold standard.
Before World War I, the world economy operated on a gold
standard, meaning that each nation's currency was …. into gold at a
specified rate. This system resulted in fixed …. rates – that is, each nation’s
…. could be exchanged for each other nation’s currency at specified,
unchanging rates. Fixed exchange rates encouraged world …. by
eliminating uncertainties associated with fluctuating rates, but the system
had at least two …. . First, under the …., countries could not control their
own money supplies; rather, each country's money …. was determined by
the flow of gold used to settle its accounts with other countries. Second,
monetary policy in all countries was strongly influenced by the pace of gold
52
production. In the 1870s and 1880s, when gold production was low, the
money supply throughout the world expanded too slowly to keep pace with
economic growth; the result was …., or falling prices. Later, gold
discoveries in Alaska and South Africa in the 1890s caused money supplies
to increase rapidly; this set off inflation, or rising …. .
(источник: http://economics.about.com)
Exercise 7. Translate into English the following sentences.
1. Чтобы произвести обмен наличной валюты физическое лицо
обязано представить кассиру документ, который удостоверяет
личность.
2. На территории РФ расчеты между резидентами в иностранной
валюте запрещены.
3. До недавнего времени японская иена занимала позиции
третьей важнейшей резервной валюты несколько десятилетий подряд,
но в силу разных причин уровень использования этой валюты
снизился, за счет того, что возросла роль английского фунта
стерлингов.
4. Денежное обращение – движение денег во внутреннем
экономическом обороте и в структуре внешнеэкономических связей
страны, в наличной и безналичной форме, обслуживающее оборот
товаров (услуг).
5. Законное платежное средство – денежные знаки, которые по
закону обязательны к приему в погашение долгов на территории
данной страны.
6. В Госдуму внесен законопроект об изъятии из обращения
монет низких номиналов – 1, 5 и 10 копеек.
7. Эмиссия денег – выпуск государством в обращение
дополнительного количества денежных знаков.
8. В условиях рыночной экономики эмиссию наличных денег
осуществляют центральные банки.
9. Золотой стандарт – денежная система, при которой стоимость
банкнот или монет выражена в определенном гарантированном
количестве золота.
53
Exercise 8. Translate into English.
Холодный расчет: почему рубль не доллар
Из истории
Само слово «рубль» произошло от глагола «рубить». В
древности словом «рубль» называли отрубленные куски слитков из
драгоценного метала – серебра (гривен), а уже в более поздние
времена «рублем» стали называть в восточной Европе большие
тяжелые монеты. Свой официальный статус как российской валюты
рубль получил при царствовании Петра первого в 1704 году, всего
через год после основания новой российской столицы – Санкт
Петербурга.
Денежные ассигнации, бумажные деньги, в России появилась в
1769 году при правлении Екатерины Великой. Серебра и золота для
выковки монет было просто недостаточно и именно, поэтому возникла
потребность в видении новой денежной единицы.
Станет ли рубль мировой валютой?
Рубль не имеет шансов стать резервной валютой. Но если уже
бывший глава ФРС публично заявил об этом, появился лишний повод
поговорить о рубле как о валюте. У рубля есть свои несомненные
успехи и достижения. Если сравнивать рубль десятилетней давности и
сегодняшний, то его просто не узнать.
Островные настроения закончились раньше, чем стабильность
смыло волной девальвации рубля. Конечно, подешевела не только
российская валюта. Доллар тоже теряет в весе, но это не стало
поводом отказать ему в его роли главной (по крайней мере, пока)
мировой валюты. Проблема рубля не в девальвации, случившейся в
начале нынешнего года. Просто производя всего около трех процентов
мирового ВВП – такова доля России – не стоит рассчитывать на
всеобщий интерес к валюте, обслуживающей эту долю.
Кроме того, место мировой резервной валюты не вакантно. Кто
бы что ни говорил про доллар и его скорую погибель, 86% мирового
товарооборота в первом полугодии 2009 кризисного года
обслуживалось именно долларовыми расчетами.
54
Да и можно ли убедить в силе рубля окружающих, если в его
Words
Synonyms
1. immobilize
2. strong currency
3. issue
4. unit of money
5. circulating medium
6. turn
7. capital
a) monetary unit
b) large sum of money
c) monetary circulation
d) means of payment
e) withdraw from circulation
f) hard currency
g) emission
надежность не верят даже титульные держатели этой валюты.
Конечно, верить в светлое будущее рубля можно и даже
необходимо. Но строить на этом бизнес-планы пока не следует.
(www.bfm.ru/articles/.../holodnyj-raschet-pochemu-rubl-ne-dollar.ht)
Speaking
Exercise 1. Match the words and expressions with their synonyms. Use a
dictionary and explain their meaning.
Exercise 2. What do the following quotes mean? What is your opinion of
them?
1. Banks lend by creating credit. They create the means of payment
out of nothing. (Ralph M. Hawtrey, former Secretary of Treasury, England)
2. You can fool some of the people all of the time, and all of the
people some of the time, and that’s good enough. (Dr. Edwin Vieira, FAME
Foundation Scholar)
3. We live by the Golden Rule. Those who have the gold make the
rules. (Buzzie Bavasi)
4. When I was young I thought that money was the most important
thing in life; now that I am old I know that it is. (Oscar Wilde)
5. Life shouldn’t be printed on dollar bills. (Clifford Odets)
55
6. Money is power, freedom, a cushion, the root of all evil, the sum of
blessings. (Carl Sandburg)
7. A nickel ain’t worth a dime anymore. (Yogi Berra)
8. He who knows how to be poor knows everything. (Michelet)
9. When money speaks, the truth keeps silent. (Russian proverb)
10. A common currency imposes on us a duty to cooperate more on
policy. (Gerhard Schroder)
11. A weak currency is the sign of a weak economy, and a weak
economy leads to a weak nation. (Ross Perot)
12. At present, financial crises occur, chiefly because the paper
currency is redeemable in gold only. (John Buchanan Robinson)
13. The dollar is currently the principal reserve currency in the world.
(Robert C. Solomon)
Exercise 3. Answer the following questions.
1. What is currency?
2. What is a currency zone?
3. What are exchange rates?
4. What is a legal tender?
5. What is currency in a country controlled by?
6. What is a fraction currency?
7. Why was coinage introduced?
8. What’s the history of coinage?
9. Why can’t ruble be a world currency?
56
Unit 6
BANKS AND BANKING
Exercise 1. Read and translate the text.
Banks and Banking
When it comes to dealing with money, the banks provide a variety
of services essential to trade and to the economy of a country. There are two
main types of bank:
1. Central banks
These are the institutions which control the banking of the entire
country; they work together with the government to control the country’s
economy. The central bank of the United Kingdom is the Bank of England,
in the USA it is the Federal Reserve System, in single-currency Europe the
European Central Bank, etc.
The central bank has a number of different functions:
a) To issue banknotes and coins, the country’s currency. These notes
and coins are legal tender in the country where they are produced; this
means that traders in that country may not refuse them when they are
offered as payment.
b) To look after the country’s gold reserves.
c) To make sure that the country’s currency keeps its value.
d) To act as bankers for the government and the other banks.
e) To keep inflation under control. Inflation happens when there is a lot
more money (in the form of banknotes and credit) available than there are
goods for sale (in other words, when demand for the goods exceeds supply).
When this happens, prices increase sharply and often. To stop it, the central
bank needs to take money out of circulation, for example by increasing
interest rates (this makes borrowing more expensive and means that, fewer
people will apply for credit), and by increasing the amount of money which
all banks have to deposit with the central bank.
2. Commercial banks
These are the public or private banks which people use for their
everyday money matters. If you have a bank account for example, it will be
at a commercial bank.
There are three basic types of bank account:
• Current account. This type of account is used for everyday
transactions such as paying bills, transferring money and drawing cheques.
57
You can have an overdraft on this type of account (that means you can
withdraw more money than you have in the account, although you will have
to pay interest for this service), but you don't usually receive interest on the
money you pay in.
•Deposit account. This type of account may be used for short-term,
small savings; the money paid in earns a small amount of interest. It is not
possible to draw cheques or have an overdraft on this type of account, but it
is possible to transfer money to it from a current account.
• Investment account. Money paid into this type оf account earns
more interest, but the customer must inform the bank in advance when he
wants to withdraw his money. If it is a fixed-term account, he may not be
able to withdraw the money for a certain period agreed with the bank (for
example, five years). This type of account may be used for larger, long-term
savings.
Another function of the commercial banks is to provide credit, in
the form of:
• Overdrafts, where the customer can take out more money than he
has in his account up to a certain limit agreed with the bank. He has to pay
the money back whenever requested by the bank, and he also has to pay a
relatively high rate of interest whenever he is overdrawn. For this reason, an
overdraft is not the best option for long-term borrowing.
• A loan is cheaper if a large amount of money has to be borrowed
over a longer period. It is usually taken out for one item such as a car or a
house, and is repaid in monthly installments along with a fixed rate of
interest. A loan used to buy a house or land is called a mortgage.
• Credit cards such as Visa or American Express are used to buy
goods without needing to pay for them immediately. The customer receives
a monthly statement and can either pay the entire amount in full (in which
case no interest has to be paid) or in monthly installments (plus a fixed rate
of interest).
Other commercial bank services include:
• Standing order facilities, where the same amount of money is
transferred from one account to another at regular intervals. For example,
somebody might set up a standing order to pay the rent automatically every
month.
• Direct debit facilities, where a varying amount of money is
transferred from one account to another at regular intervals. For example,
somebody might set up direct debit facilities to pay his telephone bill
automatically every month.
58
• Advising their customers on making investments, for example in
gold, property or shares.
• Safe facilities for their customers to lock up valuable articles such
as juwellery or important documents.
• Providing foreign currency and traveler’s cheques.
• Paying out cash (for example from cash dispensers) and accepting
cash deposits. Providing cheques and carrying out cheque transitions.
Exercise 2. Find English equivalents of the following words and
expressions in the text:
федеральная резервная система, золотые запасы, обеспечить,
контролировать уровень инфляции, спрос превышает предложение,
изымать деньги из обращения, процентные ставки, подавать заявку
на получение кредита, внести деньги в банк, денежные дела, счет в
банке, текущий банковский счет, ежедневные операции, оплатить
счета, выписать чек, превышение кредита, изымать деньги,
выплачивать проценты, вносить деньги на счет, депозитный счет
(срочный вклад), краткосрочные сбережения, накоплять проценты,
оповестить заранее, вклад (счет) на установленный период,
долгосрочный заем, ежемесячные взносы, ипотека, ежемесячный
бюллетень, оплатить полностью, услуги постоянных заказов, услуги
прямого дебетования, консультировать по, туристский чек,
банкомат, принимать взносы наличными.
Exercise 3. Translate the following words and expressions from the text
into Russian:
to deal with money, single-currency Europe, to issue banknotes, to keep
inflation under control, demand, to take money out of circulation,
borrowing, interest rate, to apply for credit, to deposit with, the central
bank, money matters, current account, to pay bills, to draw cheques, an
overdraft, withdraw, to pay interest for this service, short-term savings, to
earn a small amount of interest, a fixed-term account, long-term savings,
installments, a mortgage, a monthly statement, standing order facilities,
transferred from one account to another, at regular intervals, to carry out
cheque transitions, to lock up valuable articles, to pay out cash, debit
facilities.
59
Exercise 4. Put a tick next to the sentence if you think it’s true, and
Verbs
Nouns
close
make
earn
win
open
pay
an account
an investment
a salary
a bill
the lottery
money
a loss
a fortune
a wage
a profit
interest
correct it if it’s false.
1. There are two main types of bank.
2. Commercial banks work together with government.
3. The central bank looks after the country’s silver reserves.
4. The central bank can’t keep inflation under control.
5. Commercial banks are established by government.
6. Overdraft is the form of credit where money withdrawn by one is
more than there is in the account.
7. Short-term savings are put in the deposit account.
8. Deposit account earns the biggest interest rate.
9. One pays a loan with no fixed rate of interest.
10. One has always to pay an interest rate if he/she uses a credit card.
11. Commercial banks can’t provide safety for one’s jewelry.
12. Standing order facilities are included in the list of bank services.
13. Direct debit facilities is a fixed amount of money transferred from
one account to another at different intervals.
14. Commercial banks don’t offer services such as advising customers
on banking.
Exercise 5. а) Match the verbs and nouns in the table to make as many
collocations as you can.
60
b) Match the terms with their definitions.
Terms
Definitions
1. Withdraw
2. Transaction
3. Deposit
4. Savings account
5. Check account
6. Mortgage
7. Interest
8. Loan
9. Cash a check
10. Check card
a. Money earned from
investments or paid on a loan
b. Exchange a check for cash
c. Put money into a bank
account
d. Piece of business done
e. Account used for investment
f. Plastic card from a bank
which guarantees payment of
a check
g. Account used for day-o-day
banking
h. Take money from a bank
account
i. Loan to buy a property
j. Money which is lent
Exercise 6. Choose the best answer.
1. I’d like to ..... an account.
a) open
b) start
c) commence
2. You don’t have any ..... (= money) in your account.
a) funds
b) fun
c) funding
3. The bank ..... my husband’s credit card because he didn’t pay his credit
card bills.
a) reneged
b) retracted
c) cancelled
Соседние файлы в предмете [НЕСОРТИРОВАННОЕ]