Методички ЭД-203фк / Английский язык_Пособие для бакалавров. Учебное пособие

Раздел 6. Money, Finance, Banking.

Деньги, финансы, банки.

6.1. Тексты

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6.1.1. Money

Money is used for buying or selling goods, for measuring value and for storing wealth. However, this has not always been true. In primitive societies a system of barter direct exchange of goods was used. Somebody could exchange a sheep, for example, for anything in the marketplace that they considered to be of equal value. Most governments now issue paper money in the form of notes. Paper money is easier to handle and much more convenient in the modern world. Cheques, bankers' cards, and credit cards are being used increasingly too.

Sometimes in a shop they ask you: «How do you want to pay?» You can answer: «Cash / By cheque / By credit card». In a bank you usually have a current account, which is one where you pay in your salary and then withdraw money to pay your everyday bills. The bank sends you a regular bank statement telling you how much money is in your account. You may also have a savings account where you deposit any extra money that you have and only take money out when you want to spend it on something special. Sometimes the bank may lend you money – this is called a bank loan. If the bank lends you money to buy a house, that money is called a mortgage.

When you buy (or, more formally, purchase) something in a shop, you usually pay for it outright but sometimes you buy on credit. Sometimes you may be offered a discount or a reduction on something you buy at a shop. It is not usual to haggle about prices in a British shop, as it is in a Turkish market. If you want to return something which you have bought to a shop, you may be given a refund, i.e. your money will be returned, provided you have a receipt. The money that you pay for services, e.g. to a school or a lawyer, is usually called a fee or fees; the money paid for a journey is a fare. If you buy something that you feel was very good value, it’s a bargain.

Выучите следующие слова и выражения:

1.to measure value – оценить стоимость

2.barter – бартер

3.exchange of goods – обмен товарами

4.to issue paper money – выпускать бумажные деньги

5.note – банкнота

6.convenient – удобный

7.cash – наличные деньги

8.cheque – чек

9.credit card – кредитная карта

10.current account – текущий счет

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11.to pay in money – положить деньги (на счет)

12.to withdraw money – снять деньги (со счета)

13.to pay a bill – оплатить счет

14.to send a bank statement – отправить банковское извещение

15.savings account – сберегательный счет

16.to lend – одалживать, давать взаймы

17.loan – заем, ссуда

18.mortgage – ипотечная ссуда

19.to buy on credit – покупать в кредит

20.to offer a discount – предлагать скидку

21.to haggle about prices – торговаться о ценах

22.to return to a shop – вернуть (что-то) в магазин

23.to give a refund – возвращать деньги

24.receipt – чек, квитанция об оплате

25.fee – гонорар

26.fare – плата за проезд

27.good value – хорошая цена, стоимость

28.bargain – удачная покупка, сделка

6.1.2. Задания к тексту “Money”

Задание 1. Выберите правильный перевод следующих словосочетаний:

1. to exchange goods a) прямой обмен

b) обменивать товары c) менять деньги

	2.	to issue paper money	a)	чеканить монеты
			b)	хранить бумажные деньги
			c)	выпускать бумажные деньги
	3.	modern world	a)	современный мир
			b)	мир денег
			c)	новый мир
	4.	to offer a discount	a)	предлагать возврат денег
			b)	предлагать скидку
			c)	требовать скидку
	5.	to haggle about prices	a)	торговаться о ценах
			b)	обсуждать цены
			c)	торговаться на рынке

Задание 2. Выберите правильный перевод следующих предложений:

1.Money is used for storing wealth .

a)Деньги используются для хранения ценностей.

b)Деньги используются для накопления богатства.

2.Paper money is much more convenient in the modern world.

a)Бумажные деньги намного удобнее в современном мире.

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b)Бумажные деньги очень удобны в современном мире.

3.The bank sends its clients a regular bank statement.

a)Банк отправляет своим клиентам регулярное банковское извещение.

b)Банк отправляет банковское извещение потенциальным клиентам.

4.Credit cards are being used increasingly.

a)Кредитные карты редко используются.

b)Кредитные карты широко используются.

5.Sometimes you buy something on credit.

a)Вы иногда покупаете что-нибудь в кредит.

b)Вы ничего не покупаете в кредит.

Задание 3. Сопоставьте английские и русские словосочетания:

1.	to offer a discount	a)	торговаться о ценах
2.	to haggle about prices	b)	оплатить счет
3.	to pay in money	c)	снимать деньги (со счета)
4.	to pay a bill	d)	предложить скидку
5.	to withdraw money	e)	положить деньги (на счет)
Задание 4. Составьте словосочетания:
6.	to spend	a)	a statement
7.	to send	b)	a shop
8.	to return to	c)	a shop
9.	to have	d)	money
10. to use		e)	a savings account
Задание 5. Составьте предложения из следующих слов:
1. a. the		4. a. is
	b. money		b. Paper
	c. unit		c. to
	d. The		d. handle
	e. selects		e. easier
	f. government		f. money
2. a. cannot		5. a. The
	b. be		b. government
	c. Money		c. and
	d. small		d. money
	e. too		e. issues
3. a. lend			f. coins

b. may	g. paper

c.money

d.The

e.bank

f.you

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6.1.3. Banks

Banks are organizations that carry out the business of banking, taking deposits and then using those deposits to make loans. In essence, a bank aims to make a profit by paying depositors a lower rate of interest than the rate the bank charges borrowers. In accounting terms, deposits are considered liabilities (because they have to be repaid), and loans are considered assets.

Banks in most countries are supervised by a central bank, such as the Bank of England in the United Kingdom, the Bundesbank in Germany, the Federal Reserve System in the United States and the Central Bank in Russia.

There are many different types of banks, and the banking structure varies from one country to another. Banks can fall into the following categories:

Retail banks are often referred to as commercial banks. In addition to conventional banking services, such as the provision of checking accounts, they deal in foreign exchange, issue credit cards, provide investment and tax advice, and sell financial products such as insurance.

Merchant or investment banks act as intermediaries between investors and private or public concerns seeking medium to long-term funds, often acting as underwriters for an issue of shares.

Building societies were set up in the United Kingdom to take deposits in order to provide long-term loans (mortgages) to homebuyers.

Savings Banks were set up with the aim of attracting small savers. They resemble retail banks in the services they provide.

Credit unions are the equivalents of savings banks, and are run as a cooperative nonprofit-making organization. Credit unions are widespread in the United States.

Universal banks do everything that the above types of banks do.

Выучите следующие слова и выражения:

1.depositor – вкладчик

2.rate of interest – процент, процентная ставка

3.borrower – заемщик

4.liabilities – задолженность

5.assets – актив (баланса)

6.retail bank – банк, занимающийся обслуживанием мелкой клиентуры

7.checking account – 1) специальный счет, с которого снимаются деньги по чекам клиента; 2) счет, позволяющий в любой момент вносить и снимать деньги (до востребования)

8.foreign exchange – иностранная валюта; валютно-обменные операции

9.investment and tax advice – консультации по инвестициям и налогам

10.insurance – страхование

11.merchant bank – торговый банк

12.investment bank – инвестиционный банк

13.intermediary – посредник

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14.concern – фирма; предприятие; концерн

15.underwriter – гарант размещения (займа, акций и т.п.)

16.issue of shares – выпуск акций

17.building society – жилищно-строительное общество

18.savings bank – сберегательный банк

6.1.4. Задания к тексту “Banks”

Задание 1. Продолжите предложение, выбрав нужное слово или фразу:

1.Banks take deposits and then use them to …..

a)make loans.

b)pay debts.

c)buy another company.

2.Investment banks often act as …..

a)borrowers.

b)suppliers.

c)intermediaries.

3.Credit unions are the equivalents of …..

a)enterprises.

b)savings banks.

c)building societies.

4.Banks in most countries are supervised by …..

a)a central bank.

b)government.

c)board of Directors.

5.Credit unions are widespread in …..

a)Russia.

b)Great Britain.

c)the USA.

Задание 2. К какой части речи относятся следующие слова?

а) имя существительное в) имя прилагательное с) глагол

1.biggest

2.provide

3.profit

4.financial

5.can

Задание 3. Сопоставьте английские и русские эквиваленты:

1. to make a profit	a) контролировать
2. to supervise	b) выпускать кредитные карты
3. to provide services	c) управлять банком
4. to run a bank	d) получать прибыль
5. to issue credit cards	e) предоставлять услуги

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Задание 4. Составьте словосочетания:

1.	merchant	a) account
2.	foreign	b) union
3.	checking	c) exchange
4.	credit	d) loan
5.	long-term	e) bank

Задание 5. Выберите правильные предлоги для следующих предложений:

1.Banks are supervised ___ the Central Bank ___ Russia.

a)with, of

b)by, of

c)by, in

2.The banking structure varies ____ one country ___ another.

a)from, to

b)from, by

c)of, for

3.Investment banks often act as underwriters ___ an issue ____ shares.

a)for, in

b)for, of

c)to, of

4.Building societies provide long-term loans ____ homebuyers.

a)to

b)with

c)on

5.Credit unions are very popular ___ America

a)for

b)to

c)in

6.1.5. Дополнительные тексты для чтения

Modern Money System

The control of money is one of the rights and responsibilities of national governments. The government selects the money unit. Then it defines the money unit as a certain weight of metal of specified fineness. It decides which money has the power of legal tender. Legal tender is money which can be offered and accepted for the payment of debts. The government then issues coins and paper money.

Gold and silver have come to be used as money because they have certain characteristics which meet the requirements of gold money.

Money must be easily recognized, so that persons can tell its value at a glance. It must wear well, because it will pass often from hand to hand. It must also be readily divisible to provide for fractional values. Good money must be easy to carry around, but it cannot be too small, or it will be easily lost.

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Most governments own their nations’ monetary gold stock. Gold is needed as reserves for central banks, and as means of international payments when other forms of money are not acceptable. The monetary system in most countries today is based on the gold standard.

Fiscal Policy

The government can also use its own spending and taxing activities to achieve specific objectives. This is called fiscal policy. By increasing or decreasing its spending or taxing programs, the federal government may reduce or increase demand for goods and services. If the government reduces its own spending, it buys less from businesses, reducing sales and earnings, and people have less money to spend. Similarly, if the government raises taxes, people have less money to spend. Moreover, spending and taxing policies work together to increase or decrease aggregate demand.

Fiscal policy uses budget deficits or surpluses to promote economic stability and growth. In the United States, some fiscal policy tools work automatically – without action being taken by the president or Congress. The progressive income tax, for example, is generally considered to promote stability automatically. It tends to reduce the government's collection of revenue when personal and business incomes are declining, and thus helps offset the cutbacks in spending that accompany declining incomes. During business expansions, however, federal tax collection tends to rise fairly quickly and thus reduce inflationary pressures.

Yet there are also problems associated with the use of fiscal policy. Many object to a reduction in government spending because this could mean a reduction in funds used to help provide education, health care and other services. Higher taxes are unpopular with both individuals and businesses. In addition, the use of fiscal policy to cause a sharp reduction in demand is somewhat controversial because it tends not only to reduce inflation but also to increase unemployment.

Banks

Nowadays one can speak of a global banking system although banks, of course, continue to play their local, more traditional role: opening and managing accounts, giving loans, and fulfilling all kinds of other operation to assist agriculture, industry and commerce.

Traditional instruments of international bank payments are letters of credit and documentary collection bills.

The process of payment from bank to bank has been greatly quickened by the introduction of SWIFT system (Society for Worldwide International Financial Telecommunication). This network nowadays covers thousands of banks in about a hundred countries. A message to pay money sent through the computers of SWIFT system can be received in the matter of seconds.

The role of correspondent banks is nowadays also permanently growing. A correspondent bank is the one, which carries the deposit balance of another bank situated in another city of country. This exchange of services between banks greatly facilitates international payments.

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The Bank of England. Its History

The Bank of England, the central bank of the United Kingdom, was founded in 1694, nationalized in 1946, and gained operational independence in 1997. Standing at the centre of the UK’s financial system, the Bank is committed to promoting and maintaining a stable and efficient monetary and financial framework as its contribution to a healthy economy.

The Bank's roles and functions have evolved and changed over its threehundred year history. Since its foundation, it has been the Government's banker and, since the late 18th century, it has been banker to the banking system, more generally – the bankers’ bank. As well as providing banking services to its customers, the Bank of England manages the UK’s foreign exchange and gold reserves and the Government’s stock register.

The Bank has had a monopoly on the issue of banknotes in England and Wales since the mid 19th century. But it is only since 1997 that the Bank has had statutory responsibility for setting the UK’s official interest rate. Interest rates decisions are taken by the Bank’s Monetary Policy Committee. The MPC has to judge what interest rate is necessary to meet a target for overall inflation in the economy.

The part of the Bank's objective is to “maintain the value of the currency” – to achieve price stability in the economy. The Bank implements its interest rate decisions through its financial market operations – it sets the interest rate at which the Bank lends to banks and other financial institutions.

The Bank analyses and promotes initiatives to strengthen the financial system, and monitors financial developments to try to identify potential threats to financial stability.

The Euro

On the 1st of January 2002 for the first time in the history of Europe 12 currencies made way for just one: the euro. 300 million Europeans woke up to a new currency. The euro was not new: it had been used in electronic transactions and by banks and international businesses since January 1999. But with the launch of euro banknotes and coins anyone who lived, did business or was traveling in any of the 12 countries benefited from dealing in just one currency.

The countries sharing the euro were Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain. Later some more countries chose the euro as their currency: Cyprus, Malta, Slovenia and Slovakia.

There are seven euro banknote denominations, which can be recognized easily by their look and feel: the larger the banknote, the higher the value. There are also eight denominations of euro coins, each having a common side and a national side. The common side shows the value of the coin. The national side differs from country to country.

Euro banknotes are available in denominations of €5 , €10, €20, €50, €100, €200 and €500. The official symbol of the euro – €, the official abbreviation is EUR.

You are able to use all euro banknotes and coins in each of the participating countries, which are 16 at present.

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6.2. Тема устной речи “My Future Profession.

Моя будущая профессия”

6.2.1. Текст по теме

Составьте рассказ по теме “My Future Profession”, прочитав текст и ответив на вопросы:

My Future Profession

I’m a student of the Ural Social Economic Institute, the branch of the Academy of Labour and Social Relations.

In the near future I will graduate from the Institute and become a professional economist. I'm sure that the profession of an economist is one of the most important nowadays in view of the situation in Russia.

What makes a good economist? Whatever he does, an economist should have a thorough training in economic theory, mathematics and statistics and our Institute offers such training. At the Institute various general and special subjects are taught, such as Macroeconomics, Microeconomics, Management, Accounting, Marketing, Advertising, Money and Banking, Economic Theory, Econometrics, Statistics, Computer Science, Philosophy, Business Ethics, Foreign Languages, etc.

An economist needs some knowledge of the world outside his own country because both business and government are deeply involved in the world economy. Some knowledge of political and economic history will help him to expect changes and always look for basic long-run forces under the surface of things.

The profession of an economist is quite diversified. The graduates of our Institute work at educational institutions, various research centers and laboratories, in industry, business, banks, etc. You may continue your studies at the Postgraduate Courses or Doctorate if you have a desire and abilities to become a scientist or a professor. Scientists in the field of Economics create new theories and models, test their hypotheses and carry out economic researches.

Being employed in industry and business, our graduates work as managers, as an executive manager, a sales manager and a financial manager. Some of them work as accountants. Аn accountant is one of the most prestigious and widely required professions in any society. You shouldn't confuse an accountant with a book-keeper. While a book-keeper is mostly involved in calculations, like balance sheets, income statements, invoices, an accountant is responsible for designing the financial policy of a company.

Some work at the banks, at the Stock Exchange as brokers, others work for the government or are employed by various agencies and by military services.

Knowing the economic laws of the development of the society, economists can solve many problems facing this country and I hope I'll manage to make my contribution to this process.

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6.2.2. Вопросы по теме

Ответьте на вопросы:

1)Where do you study?

2)When will you graduate from the Institute?

3)What is your future profession?

4)Is the profession of an economist important nowadays?

5)What makes a good economist?

6)What subjects are you taught at the Institute?

7)What are your favourite subjects?

8)Are you fond of English?

9)An economist needs some knowledge of the world outside his own country, doesn’t he?

10)Will an economist need some knowledge of political and economic history in future?

11)Where can you work after graduating from the Institute?

12)Do you have a desire and abilities to become a scientist in the field of economics?

13)Would you like to work as a manager or an accountant?

14)Do you agree that an accountant is one of the most prestigious professions?

15)Is the profession of an accountant widely required in any society nowadays?

16)What is the difference between an accountant and a book-keeper?

17)What is an accountant responsible for?

18)What would you prefer: to work at a bank or at the Stock Exchange as a broker?

19)Why is it important to know the economic laws of the development of the society?

20)Can you solve any problems facing your country?

6.3.Грамматика

6.3.1. Conditional Sentences. Условные предложения 3-х типов

Необходимо помнить, что умение определять структуру предложения очень важно для правильного перевода текста. Условные предложения вызывают у говорящих на русском языке особые трудности. Прочитайте внимательно примеры в таблице типов сложных предложений, выучите приведённые в таблице союзы и союзные слова.

Таблица трех типов условных предложений, приведенная ниже, дает достаточно ясное представление о различиях в структуре и переводе. Обратите внимание на то, что сказуемое II и III типов может переводиться на русский язык одинаково.

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