Uchebnoe_posobie_dlya_st-v_1_kursa_EIU
.pdf
What can the world of charity learn from the world of business? Michael Porter, a management guru at the Harvard Business School, believes that the rich need to think about how their charitable foundations spend money. In the USA, it
is traditional for the rich to give money to hospitals, libraries and universities. These are very important, but some people think that this does not always help the very poor.
People with a lot of money often have useful social connections. They usually know how to market ideas and how to interest the media in a subject. So, some people think that the rich can
give more than money. They can also use their time, social connections and skills to help find solutions to some of the world’s problems, such as poverty and the environment.
5.Read the article again and answer the questions.
1.What currencies does the article mention?
2.What do rich people in the USA often give money to build?
3.What problems can rich people help to find solutions to?
6. Speaking. Think of some ways for the Bill and Melinda Gates Foundation to spend their $ 31 billion.
When we say prices, we don’t say the decimal point (.) €13.95
thirteen euros ninety-five cents thirteen euros ninety-five thirteen ninety-five
Money can be in notes (a €50 note) or coins (€1 coin)
We can pay for things: with cash, by cheque, using a credit card.
7 (3). Listening. Listen and complete the prices.
1.A new Orion laptop costs _£_1,290______.
2.The share price is _______.
11
3.The Dior bag is ________.
4.Those cars cost about ________.
5.A seven-day rail pass is ________.
6.We import the DVDs at _______ and sell them at ________.
7.The book costs _______.
8.The prices of our digital cameras start at ________.
8. Say these prices.
$30.25 (cents), £420.88 (pence), ¥2,500, €18.25 (cents)
9. Say the prices of different things you usually buy.
10 (4). Listening. Listen to three people talking about the cost of living in their city. Write the name of the cities in the table below (a- c). Then listen again and fill in the prices in the table.
City |
a |
b |
c |
|
Monthly rent for a one-bed |
¥550,00 |
4. |
7. |
|
apartment |
||||
|
|
|
||
Dinner for four at a top restaurant |
1. |
€1,000 |
8. |
|
A newspaper |
¥130 |
5. |
70 pence |
|
A Big Mac hamburger |
2. |
€2.94 |
9. |
|
A cinema ticket |
3. |
6. |
£8 |
|
Bread |
¥120 |
90 cents |
10. |
11.Speaking. How much do the items in the table cost in your country? Is the cost of living high in your country? Where is the cost of living low?
12.Read the text and explain the words in bold.
Money
Money is anything that is accepted as payment for goods and services and repayment of debts. The main functions of money are as follows: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment.
12
The money supply of a country usually consists of currency (banknotes and coins) and demand deposits or 'bank money'. Bank money exists only in the form of various bank records. Bank money performs the basic functions of money, as cheques are generally accepted as a form of payment and as a means of transferring ownership of deposit money.
Many items are used as commodity money such as naturally scarce precious metals. Commodity money value comes from the commodity out of which it is made. The commodity itself constitutes the money, and the money is the commodity. Use of commodity money is similar to barter.
In 1875 economist William Stanley Jevons described "representative money," i.e., money that consists of token coins, or other physical tokens such as certificates, that can be reliably exchanged for a fixed quantity of a commodity such as gold or silver. The value of representative money stands in direct and fixed relation to the commodity that backs it. But it is not composed of that commodity.
Fiat money or fiat currency is money whose value is not derived from any intrinsic value or guarantee that it can be converted into a valuable commodity (such as gold). Instead, it has value only by government order (fiat). Usually, the government declares the fiat currency (typically notes and coins from a central bank) to be legal tender. It is unlawful not to accept the fiat currency as a means of repayment for all debts, public and private.
Commercial bank money or demand deposits are claims against financial institutions that can be used for the purchase of goods and services. A demand deposit account is an account from which funds can be withdrawn at any time by check or cash withdrawal. You shouldn’t give the bank any prior notice. Banks have the legal obligation to return funds upon demand (or 'at call').
Commercial bank money is created through fractional-reserve banking. This is banking practice where banks keep only a fraction of their deposits in reserve (as cash and other highly liquid assets) and lend out the remainder. But they maintain the obligation to redeem all these deposits upon demand.
Commercial bank money differs from commodity and fiat money in two ways. Firstly it is non-physical, and secondly, there is some element
13
of risk that the claim will not be fulfilled if the financial institution becomes insolvent.
Vocabulary
repayment – возмещение, возврат
a store of value – средство сбережения deferred payment – отсроченный платеж money supply – денежная масса currency – валюта
demand deposit – бессрочный депозит ownership – собственность, владение
commodity money – товар, выполняющий функцию денег barter – бартер, товарообмен
representative money – бумажные деньги, полностью обеспеченные золотом или серебром
token coins – денежные знаки
back – финансировать, субсидировать
fiat money – неразменные бумажные деньги intrinsic value – внутренняя стоимость
cash withdrawal – снятие наличных
legal tender – законное платежное средство prior notice – предварительное уведомление assets – активы
insolvent - неплатежеспособный
13. Give Russian equivalents: |
|
medium of exchange |
declare |
unit of account |
highly liquid |
convert into |
declare |
14. Choose words from the list to fill in the gaps, then use them to make sentences:
bank, liquid, legal, main, token, means of
1. |
______ assets |
4. |
______ records |
2. |
______ function |
5. |
______ obligation |
3. |
______ repayment |
6. |
______ coins |
|
|
14 |
|
15.Read the text again and answer the questions:
1.What is money?
2.What are the main functions of money?
3.What does the money supply of a country consist of?
4.In what form does bank money exist?
5.What does the commodity money value come from?
6.What does representative money consist of?
7.What does the value of representative money depend on?
8.What is fiat money?
16.Correct the statements:
1.Bank money exists in the form of currency.
2.Fiat money value is derived from any intrinsic value.
3.Funds can be withdrawn from a demand deposit only after prior notice.
4.Commercial bank money does not differ from commodity and fiat money.
17. Make notes under the following headings:
Functions of money, Bank money, Commodity Money, Representative money, Fiat money, Commercial bank money.
Close your books, look at your notes an talk about money.
Unit 3
Economy
1. Are these statements about China true or false? Give your opinion.
Mind some new words:
free-market economy – свободная рыночная экономика population – население
industrial production – промышленное производство competitive – конкурентоспособный
attracted – заинтересованный
15
labor force – рабочая сила
consumer goods – потребительские товары average income – средний доход
to afford – позволять sales – продажи
joint venture – совместное предприятие manufacture –производитель
pollution – загрязнение окружающей среды impact – воздействие
Statement |
My opinion What the article says |
1.Today China has a freemarket economy.
2.Population of China is almost 1 billion.
3.Foreign companies invest money in China.
4.Most Chinese like modernization.
5.Few Chinese people who live in cities nowadays can afford buying a car.
6.The top ten carmakers are thinking of investing in China.
7.China’s rapid industrial development causes pollution problems.
2.Reading. Read the article below. Write T (true) or F (false) under “What the article says” in the previous exercise.
In China, the state controls less than a quarter of industrial production and the country has a free-market economy. Economy in China is growing faster and now it is the sixth largest economy in the world.
16
More and more foreign countries invest in China attracted by its market of 1.3 billion people and its very competitive low-cost labor force. China’s major cities are changing dramatically. Nowadays there are many new huge office blocks, hotels, shopping malls. Most Chinese like modernization and are very
happy with their 21st century cities of glass and steel. Consumer goods are everywhere and millions of Chinese can afford them because average income doubled. In cities, many people now have not only a TV-set, washing machine, video and mobile phone, but also a car and an apartment. Moreover, car sales are rising rapidly and as a result, there are joint ventures of the world’s top ten global carmakers with Chinese car manufacturers.
However, as in every industrialized country, in China there are many problems concerning industrial development, especially pollution. As industrialization countries and huge numbers of people enjoy western standards of living for the first time, the worry is that the impact on the environment may also be huge.
3.Read the article again. Find in the text the words and phrases that mean:
1.To put money into
2.To have enough money to buy
3.Business activity where two organizations work together
4.Effect
5.The natural world
4. What do these numbers and phrases from the article refer to?
17
Sixth largest, 1.3 billion, top ten, less than a quarter, 21st.
5. Match words from A and B to make collocations (words which we often use together). For some of the words, there is more than one possible combination.
Examples: consumer society, mass production a
consumer free-market industrial mass average foreign western
6.Speaking. Would you like to visit China for a holiday? Would you like to live and work in China for a year or more? Give reasons.
7.Read the text and explain the words in bold.
An Economy
An economy is the way in which people use their environment to meet their material needs. It includes the production, exchange, distribution, and consumption of goods and services. A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, among other factors. These factors give context, content, and set the conditions and parameters in which an economy functions.
Consumption, saving and investment are core variable components in the economy and determine market equilibrium.
In modern economies, there are four main sectors of economic activity:
Primary sector of the economy involves the extraction and production of raw materials, such as corn, coal, wood and iron.
18
Secondary sector of the economy involves the transformation of raw materials into goods e.g. manufacturing steel into cars, or textiles into clothing.
Tertiary sector of the economy involves the provision of services to consumers and businesses, such as baby-sitting, cinema and banking.
Quaternary sector of the economy involves the research and development needed to produce products from natural resources. Education is sometimes included in this sector.
There are a number of parameters to measure economic activity of a nation. They include:
Consumer spending
Exchange Rate
Gross domestic product
GDP per capital
GNP
Stock Market
Interest Rate
National Debt
Rate of Inflation
Unemployment
Balance of Trade
The GDP - Gross domestic product of a country is a measure of the size of its economy. It should be noted that GDP only includes economic activity for which money is exchanged.
Vocabulary
consumer spending – потребительские расходы
gross domestic product – валовой внутренний продукт gross national product – валовой национальный продукт interest rate – ставка процента
balance of trade – торговый баланс
8. Give Russian equivalents: |
|
production |
manufacturing |
evolution |
provision |
endowment |
research |
consumption |
exchange rate |
|
19 |
extraction stock market
9. Choose words from the list to fill in the gaps, then use them to make sentences:
variable, technological, interest, raw, secondary, gross domestic,
economic, consumer |
|
|
|
1. |
_____ materials |
5. |
_____ rate |
2. |
_____ sector |
6. |
_____ activity |
3. |
_____ spending |
7. |
_____ components |
4. |
_____ evolution |
8. |
_____ product |
10. Answer the questions:
1.What is an economy?
2.What does an economy include?
3.What factors does an economy involve?
4.How do these factors influence an economy?
5.What are the core components in the economy?
6.What are the four main sectors of economic activity?
7.What do they involve?
8.How is economic activity of a nation measured?
9.What is GDP?
11. Make notes under the following headings:
An Economy, Sectors of economic activity, Economic activity measure.
Close your books, look at your notes an talk about economy.
Unit 4
Company
1 (5). Listening. Listen and practice.
Companies are involved in many activities, for example buying, selling, marketing and production, in a range of different industries, such as information technology, telecommunications, film, and car
20