Uchebnoe_posobie_dlya_st-v_1_kursa_EIU
.pdfspontaneously or is constructed deliberately by human interaction in order to enable the exchange of goods and services.
There are various types of markets and various organizational structures to assist their functions.
Financial markets facilitate the exchange of liquid assets. Most investors prefer investing in two markets, the stock markets and the bond markets. Futures markets, where contracts are exchanged regarding the future delivery of goods are often an outgrowth of general commodity markets.
Currency markets are used to trade one currency for another, and are often used for speculation on currency exchange rates.
The money market is the name for the global market for lending and borrowing.
Prediction markets are a type of speculative market in which the goods exchanged are futures on the occurrence of certain events. They apply the market dynamics to facilitate information aggregation.
Vocabulary
arrangement – зд. механизм currency market – валютный рынок commodity market – товарный рынок transaction – сделка
supply – предложение demand – спрос allocation – распределение to evaluate – оценивать
liquid assets – ликвидные активы bond market – рынок облигаций futures market – фьючерсный рынок futures – фьючерсные сделки
7. Give Russian equivalents: institution
human community illegal market
to influence price tradable item delivery of goods
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prediction market
8. Choose words from the list to fill in the gaps, then use them to make sentences:
geographic, market, tradable, liquid, commodity, human
1. |
_____ markets |
4. |
_____ communities |
2. |
_____ item |
5. |
_____ scale |
3. |
_____ assets |
6. |
_____ participants |
9. Fill in the gaps with the words and expressions from the text:
1.A market is an arrangement that _____ .
2.A market is any structure that allows _____ to exchange any types of goods, services and information.
3.Markets allow any _____ to be evaluated and priced.
4.Most investors prefer investing in two markets: _____ .
5.Currency markets are often used for _____ on currency exchange
rates.
10.Answer the questions:
1.What is a market?
2.How do markets vary?
3.What is a transaction?
4.Who are market participants?
5.What are the functions of a market?
6.What markets facilitate the exchange of liquid assets?
7.What is a futures market?
8.What are currency markets used for?
9.What is the money market?
10.What is a prediction market?
11.Talk about a market and types of markets.
Unit 8
Business travel
1(13). Listening. Listen and practice.
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Business today is international. Business people often have to travel a lot. They have to plan an itinerary for a foreign business trip to make good use of their time. On a business trip people may meet colleagues and business partners for the first time. It is usual for colleagues from different countries to experience cultural differences. In other words, they may be surprised by foreign social conventions, that is the different ways that other nationalities or different cultures do things.
2. Discuss the questions.
1.When did you travel last?
2.Where did you go? How did you get there?
3.Where did you stay?
3. Match the words with the correct picture.
To fly, road, to be sea-sick, traffic jam, station, carriage, to fasten belts, ferry, to be air-sick, to drive, ocean, to land, compartment, to take off, to sail, flight, gate, platform, port, on board the ship, sea journey, petrol, railway, driver.
□ platform
□
□
□
□
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train
□
□
□
□
□
□
□
plane
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□
□
□
□
□
□
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ship
□
□
□
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car
4. Complete the sentences with some of the words above.
1.Passengers must go to ___________ 17 for the 14:15 ________ to Lisbon.
2.The train at _______ 6 stops at all stations to Cambridge. Passengers for Stansted should sit in the _________ at the back of the train.
3.Remember that in the UK you must ______ on the left side of the
road.
4.We waited at the port for three hours, but the _________ to France couldn’t ________ because of the bad weather.
5.Reading. When you travel by plane, which of these is most important to you? Number them 1 to 4 (1 = important, 4 = not important).
1.Fast internet access.
2.Comfortable seating.
3.No delays.
4.Security.
6. Complete the headings in the text with the words in the exercise above.
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Results from a survey: Business travel is boring!
In the past, business travel was cool and exciting. But interviews with 1,600 travellers show modern travel is stressful and boring.
1.______________. Nowadays, this rarely happens. Most modern travellers expect to be late. The problem starts at check-in. There are long queues at passport control and the gate. Then, if the planes aren’t late, they can often be cancelled.
2._______________. Everyone agrees this is important, but the rules for bags and hand luggage are making journeys longer.
3.________________. 47% don’t get proper sleep. Business class helps, and the difference between the window and aisle seat can improve a journey, but more and more companies are saving money and choosing economy class for their employees.
4.________________. The successful business trip includes highspeed connections to the Internet at the airport terminal and hotel.
7.Match the words in bold in the text above to these definitions.
1.Show your ticket and passport here and get your boarding card
check-in.
2.Get on the plane here _______.
3.Show your passport here ________.
4.Two types of ticket _________, ________.
5.Pack this and carry it onto the plane _____.
6.Pack these and check them in _________.
7.Building where you arrive and leave ____.
8.Lines of people ________.
9.When the plane doesn’t go ________.
10.Two places to sit on the plane _____, ______.
8. Discuss these questions.
1.What type of ticket or seat do you usually buy?
2.What was your worst journey? Give reasons (delays, queues,
etc.).
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9 (14). Listening. Listen to the conversation at the check-in desk and look at the departure board. What is the flight number and destination?
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Destination |
Flight |
Time |
Gate |
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London |
BA 227 |
0615 |
49b |
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Lima |
BA |
655 |
0635 |
45 |
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Hong Kong |
BA |
335 |
0655 |
49 |
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10. Listen again. Complete the conversation and check. Reproduce it with your partner.
A.Hello, is the _________for all BA flights?
B.Yes, it is. Do you have your passport and ticket?
A.Here you are.
B.And how many __________ are you checking in today?
A.None. I just have ____________.
B.OK. Would you like a _________ or an _________?
A.Err, aisle, please.
B. OK. So, your flight leaves from gate _______ at ________, but boarding starts half an hour before. You are in ______ 5 C.
A. Thanks.
11 (15). Listening. Listen to Colin Knapp talking about travelling to the Far East and answer the questions.
1.How often does Colin travel on business?
2.Which country does he visit regularly?
3.How long is the flight?
4.What two things does he do during the flight?
5.Does he suffer from jet lag?
6.Is jet lag different travelling west-east and east-west?
7.Why does he travel to the Far East instead of doing business by telephone or fax?
8.What example of the culture gap does he give?
9.What three tips does he give for visiting this country for the first
time?
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12. Discuss these questions.
1.Do you like or dislike flying (travelling by train, bus)?
2.What do you usually do while travelling by plane (bus, train,
etc.)?
3.What do you know about jet lag?
4.Have you ever experienced cultural differences while travelling?
13.Speaking. Speak on the transport you prefer for business and pleasure travelling. Give examples of advantages and disadvantages of different means of transport.
14.Read the text and explain the words in bold.
Financial Market
In economics, a financial market is a mechanism that allows people to easily buy and sell (trade) financial securities (such as stocks and bonds), commodities (such as precious metals or agricultural goods), and other items of value at low transaction costs.
Financial markets facilitate:
The raising of capital (in the capital markets)
The transfer of risk (in the derivatives markets)
International trade (in the currency markets)
The financial markets can be divided into different subtypes:
Capital markets which consist of:
o Stock markets, which provide financing through the issuance of shares or common stock, and enable the subsequent trading thereof.
o Bond markets, which provide financing through the issuance of bonds, and enable the subsequent trading thereof.
Commodity markets, which facilitate the trading of commodities.
Money markets, which provide short term debt financing and investment.
Derivatives markets, which provide instruments for the management of financial risk.
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Futures markets, which provide standardized forward contracts for trading products at some future date.
Insurance markets, which facilitate the redistribution of various
risks.
Foreign exchange markets, which facilitate the trading of foreign exchange.
The capital markets consist of primary markets and secondary markets. Newly formed (issued) securities are bought or sold in primary markets. Secondary markets allow investors to sell securities that they hold or buy existing securities.
Without financial markets, borrowers would have difficulty finding lenders themselves. Intermediaries such as banks help in this process. Banks take deposits from those who have money to save. Banks popularly lend money in the form of loans and mortgages.
Many borrowers have difficulty raising money locally. They need to borrow internationally with the aid of Foreign exchange markets.
In finance, the money market is the global financial market for short-term borrowing and lending. It provides short-term liquidity funding for the global financial system. The money market is where short-term obligations such as Treasury bills, commercial paper and bankers' acceptances are bought and sold.
The money market consists of financial institutions and dealers in money or credit who wish to either borrow or lend. Participants borrow and lend for short periods of time, typically up to thirteen months. Money market trades in short-term financial instruments commonly called "paper." This contrasts with the capital market for longer-term funding, which is supplied by bonds and equities.
The core of the money market consists of banks borrowing and lending to each other, using commercial paper, repurchase agreements and similar instruments.
Vocabulary
securities – ценные бумаги issuance of share – выпуск акций subsequent – последующий thereof – этого; того
lender – заимодавец, кредитор intermediary - посредник
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loan – заём, ссуда
mortgage – ипотека; заклад, закладная
to fund – вкладывать капитал в ценные бумаги treasury bill – казначейский вексель
bankers’ acceptance – банковский акцепт equities – акции без фиксированного дивиденда
15. Give Russian equivalents: |
|
stocks |
redistribution |
bonds |
repurchase |
derivatives markets |
obligation |
16. Choose words from the list to fill in the gaps, then use them to make sentences:
financial, foreign, money, short-term, commercial, subsequent
1. |
_____ exchange |
4. |
_____ paper |
2. |
_____ obligations |
5. |
_____securities |
3. |
_____ trading |
6. |
_____ market |
17. Answer the questions:
1.What is a financial market?
2.What do financial markets facilitate?
3.What are the subtypes of financial markets?
4.What types do capital markets consist of?
5.What do money/derivatives/futures markets provide?
6.What do commodity/insurance/foreign exchange markets facilitate?
7.What is the difference between primary and secondary markets?
8.What’s banks’ role in financial markets?
9.What does a money market provide?
10.What is the difference between money markets and capital
markets?
11. What does the core of the money market consist of?
18. Use words/phrases from the list to help you retell the text: financial securities, commodities, facilitate, capital markets,
issuance of shares, subsequent trading, trading of commodities, debt financing, financial risk, futures markets, redistribution, foreign
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exchange, primary markets, secondary markets, intermediaries, loans and mortgages, short-term borrowing and lending, commercial paper
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