1. Do you prefer to study…

a. at school or college b. in a library c. at home?

2. Do you study best…

a. early in the morning b. during the day c. at night?

3. Do you prefer to work…

a. with friends b. with background music c. in silence?

Ex 3. Now complete the text with the correct form of the verbs in the box. There may be more than one possible answer so try to use each verb only once.

concentrate, do, learn, overcome, organize, study, take, teach, review, revise

Even the most studious among you will probably have difficulty studying at some stage in your academic career. If or when this happens, the only way to (1)......................... this problem is to go back to basics. First, make sure you have a comfortable environment to (2)......................... in. Some students need to have a quiet space to themselves and can’t (3)......................... if there are too many distractions. Others need some sort of background noise, such as music or the company of friends. Whatever your personal preference is, you need to (4)......................... this first of all. Next, make sure you have all of the equipment or tools that you need. For example, if you are (5)......................... a geography course and you have to (6)......................... about countries and their capital cities then you will need to have your atlas to hand. If you’re (7)......................... your math homework then be sure to find your calculator, ruler, protractor and compass before you start. Perhaps you’re not preparing a homework assignment or project, but are trying to (8)......................... for an exam. If so, you need to know exactly what is on your curriculum. You should also (9)......................... your notes and make sure that you have a clear understanding of what your lecturers have (10)......................... you. Of course, people with a learning disorder such as dyslexia may need to work harder than others at their studies as they often struggle to read even relatively simple texts.

Ex 4 Now read the text again and find a word or phrase to match these definitions.

1. describes someone who studies a lot ……

2. things that stop you from working ……

3. a sound you can hear, but do not actively listen to ……

4. two different types of homework or school task …… and ……

5. to study for an exam ……

6. another word for syllabus ……

7. to check your work ……

8. to do something with great difficulty ……

Ex 5. Work in pairs. Make up dialogues comparing your ways of studying to your friend’s. Do you think your ways will help your future career?

Unit 8

Part 1

A History of English Clearing Bank

lending, debtor, creditor, interest, safe custody, facilities, goldsmith bankers, receipts, cheque, promissory note, demand and time deposits, cash reserves, Bills of Exchange, joint stock banking, branch banking, the Clearing House, diversification

Text A

Introduction

Although banking as we know it has its roots in the seventeenth century, many of its features can be traced back to ancient times.

Before the introduction of a monetary system there were many instances of transactions involving credit in primitive communities. Early Pacific civilizations used strings of beads as a means of recording debts, even before they were a means of exchange. The Chinese dynasties are full of instances of note issues recorded back as far as 14BC under the Emperor Wu-Ti, who used a form of paper money made from stag skin.

In Greece, Babylon and the Roman Empire an extensive international trade demanded banking facilities, such as the lending of money, its exchange in foreign trade and travel, and the safe keeping of deposits. The Greek system was adopted by Egypt and also influenced Rome. The breakup of the Roman Empire led to a decline in banking, and, at the same time, usury laws imposed by the Church put restraints on lending.

However, banking did not cease completely as the Lombard merchants developed banking in Venice and Genoa in the 12th century.

Lombard Street, which is still today the heart of London's financial quarter, takes its name from Lombardy in Italy. Their vocabulary has left us with the words cash, debtor, and creditor. Perhaps the most significant is the fact that these merchants conducted their business on benches or 'bancos' and it is from that work that our 'bank' is said to be derived.

The Italian merchants arrived at a time when England was changing from a feudal community, with virtually all its wealth in land, to a commercial society in which surplus money needed to be stored and used for profit. This happened in the sixteenth century after a long and stable government under the Tudors, which saw an age of discovery and the beginnings of colonization; a time of expansion of trade at home and abroad. Moreover, as the Reformation spread throughout Europe, King Henry VIII, at the end of his reign in 1546, repealed the usury laws. Before this the Church disallowed the lending of money with interest; now money could be lent "upon interest according to the King's Majesty's Statute at 10 per cent".

This Act was carried further by his daughter, Queen Elizabeth I, and so the foundation of the modern banking system was laid.

Englishmen of business followed the example of the Italian merchants. In particular, Sir Thomas Gresham, who as a pioneer of lending and borrowing money in the country, became the greatest of the London merchants and is now looked upon as the "Father of English Banking". He founded the Royal Exchange in Cornhill, London, as a meeting place for merchants to conduct their business.