Table Of ContentCopyright ОАО «ЦКБ «БИБКОМ» & ООО «Aгентство Kнига-Cервис»
МИНИСТЕРСТВО ОБРАЗОВАНИЯ И НАУКИ РФ
ФЕДЕРАЛЬНОЕ ГОСУДАРСТВЕННОЕ
БЮДЖЕТНОЕ ОБРАЗОВАТЕЛЬНОЕ УЧРЕЖДЕНИЕ
ВЫСШЕГО ПРОФЕССИОНАЛЬНОГО ОБРАЗОВАНИЯ
«ВОРОНЕЖСКИЙ ГОСУДАРСТВЕННЫЙ
УНИВЕРСИТЕТ»
А. Б. Пешкова
FINANCE AND BANKING
Учебно-методическое пособие для вузов
Воронеж
Издательский дом ВГУ
2014
Copyright ОАО «ЦКБ «БИБКОМ» & ООО «Aгентство Kнига-Cервис»
Утверждено научно-методическим советом факультета романо-германской
филологии 25 февраля 2014 г., протокол № 2
Рецензент канд. филол. наук, доцент ВГУ С.А. Трухина
Учебно-методическое пособие подготовлено на кафедре английского языка
гуманитарных факультетов факультета романо-германской филологии Во-
ронежского государственного университета.
Рекомендуется для студентов 1-го курса магистратуры з/о.
Для направлений: 080100 – Экономика, 080200 – Менеджмент, 080300 –
Финансы и кредит
Copyright ОАО «ЦКБ «БИБКОМ» & ООО «Aгентство Kнига-Cервис»
Содержание
1. Содержание……………………………………………………………………3
2. Пояснительная записка……………………………………………………….4
3. Unit 1.Money and Banking………..…………………………………………...6
Lead-in ………………………………………………………..………………….6
Reading …………………………………………………………………………..7
Vocabulary Practice……………………………………………………………..11
Speaking ………………………………………………………………………...13
4. Unit 2. The Role of Banks …………………………………...........................15
Lead-in ………………………………………………………..………………...15
Reading …………………………………………………………………………16
Vocabulary Practice……………………………………………………………..20
Speaking ………………………………………………………………………...22
5. Unit 3. Modern Banking …………………………………………………….24
Lead-in ………………………………………………………..………………..24
Reading …………………………………………………………………………26
Vocabulary Practice……………………………………………………………..30
Speaking ………………………………………………………………………...33
6. Unit 4. Money and the Return it Earns ………………………………………35
Lead-in ………………………………………………………..………………..35
Reading …………………………………………………………………………36
Vocabulary Practice……………………………………………………………..39
Speaking ………………………………………………………………………...40
7. Библиография………………………………………………………………..43
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1. Пояснительная записка
Данное учебно-методическое пособие “Finance and Banking” рекомен-
дуется для студентов 1 курса магистратуры заочного отделения экономиче-
ского факультета.
Целью пособия является развитие у студентов необходимого уровня
коммуникативной компетенции для решения социально-коммуникативных
задач в различных областях культурной и профессиональной деятельности.
Основными задачами, которые решаются в данном учебно-
методическом пособии, являются следующие: формирование навыков озна-
комительного и поискового чтения с целью получения заданной информа-
ции, лексико-грамматических навыков и навыков смыслового обобщения и
выделения ключевой информации из текста, а также развитие умений мо-
нологического высказывания по предложенным вопросам и умений обсуж-
дать полученную информацию в различных формах взаимодействия сту-
дентов в пределах группы.
Пособие состоит из трех разделов (units), в центре каждого из кото-
рых – текст, в ходе работы с которым отрабатываются рецептивные и про-
дуктивные виды речевой деятельности. Каждый раздел включает предтек-
стовые (вводные), сопутствующие тексту задания – на заполнение пропу-
щенной информации или извлечение необходимой информации, послетек-
стовые задания: а) задания, направленные на тренировку лексического ма-
териала, б) репродуктивные задания (выражение мнения по предложенным
темам, изложение краткой информации по проблемам, поднятым в тексте),
в) задания, представляющие дополнительную информацию по теме раздела,
а также дискуссии на заданные темы.
На каждый раздел рекомендуется отводить 2-4 аудиторных часа и 3,5
часа для самостоятельной работы, хотя в зависимости от уровня подготов-
ленности студентов программа может меняться.
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Данное пособие будет соответствовать принципам коммуникативной
направленности, культурной и педагогической целесообразности, а также
позволит студентам соответствовать уровню выпускных требований по
дисциплине «Иностранный язык» (английский) с учетом специфики вуза и
потребностей студентов.
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Unit 1
Money and Banking
In this Unit you’re going to read the text about money, its functions and kinds.
Lead-in
Task 1. Work in a small group. Discuss the following questions with your
partner:
1. What is money? What do people need it for?
2. What role does money play in the economy of the country?
3. Wouldn’t it be better for people to live without money?
4. Where do people usually keep money?
You may find the following expressions useful:
The means of payment, a standard of value, the medium of exchange, payment
for goods and services, repayment of debts, a store of value, issued by the central
bank, currency, payment agents, to conduct checking or current accounts for cus-
tomers, payment services, to borrow and lend money, to act as a depository, to
regulate trade, to guarantee stability, a customer's account, to regulate industries.
Task 2. In the text you will find the following words and word combinations
(1-13). Match the words with their definitions (a-m).
1) a store of value a) a charge made for the borrowing of money;
2) deferred payment b) coming after or following smth else;
3) subsequently c) the worth of smth in money or as compared
with other goods for which it might be
exchanged;
4) to swap d) to exchange (goods or positions), usually so
that each person gets what they want;
5) to hand over in exchange e) (an example of) the happening by chance at
the same time or place of two or more
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events which are similar or related:
6) coincidence f) to make smth smaller: to decrease;
7) worthless g) of no value;
8) interest h) to cause a solid to become liquid;
9) to erode i) to provide an additional amount that makes
smth complete;
10) token money j) an act of placing money in a bank;
11) to melt down k) pieces of metal used instead of coins for a
particular purpose;
12) to supplement l) to give into smb else’s control in return;
13) a bank deposit m) a means of paying the debt.
Reading
Task 3. Read the text. The following sentences (1-7) have been taken out of
the text. Fill in the gaps (A-G) with the appropriate sentence.
1. To use a commodity money, society must either cut back on other uses of that
commodity or devote scarce resources to producing additional quantities of the
commodity.
2. Nobody would accept money as payment for goods supplied today if the mon-
ey was going to be worthless when they tried to buy goods with it tomorrow.
3. Society considers it convenient to use a monetary unit to determine relative
costs of different goods and services.
4. We accept money not to consume it directly but because it can subsequently be
used to buy things we do wish to consume.
5. In order to see a film, you must hand over in exchange a good or service that
the cinema manager wants.
6. It is usually convenient to use the units in which the medium of exchange is
measured as the unit of account as well.
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7. And it is usually, though not invariably, convenient to make money the unit of
account and standard of deferred payment as well.
MONEY AND BANKING
Money and its Functions
Although the crucial feature of money is its acceptance as the means of
payment or medium of exchange, money has other functions. It serves as a stand-
ard of value, a unit of account, a store of value and as a standard of deferred
payment. We discuss each of the functions of money in turn.
The Medium of Exchange
Money, the medium of exchange, is used in one-half of almost all exchange.
Workers exchange labour services for money. People buy and sell goods in ex-
change for money. A _____ Money is the medium through, which people ex-
change goods and services.
To see that society benefits from a medium of exchange, imagine a barter
economy. A barter economy has no medium of exchange. Goods are traded di-
rectly or swapped for other goods.
In a barter economy, the seller and the buyer each must want something the
other has to offer. Each person is simultaneously a seller and a buyer. B _____
There has to be a double coincidence of wants. You have to find a cinema where
the manager wants what you have to offer in exchange.
Trading is very expensive in a barter economy. People must spend a lot of
tune and effort finding others with whom they can make mutually satisfactory
swaps. Since time and effort are scarce resources, a barter economy is wasteful.
The use of money – any commodity generally accepted in payment for goods,
services, and debts – makes the trading process simpler and more efficient.
Other Functions of Money
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Money can also serve as a standard of value. C _____ In this function money ap-
pears as the unit of account, is the unit in which prices are quoted and accounts
are kept.
In Russia prices are quoted in roubles; in Britain, in pounds sterling; in the
USA, in US dollars; in France, in French francs. D _____ However there are ex-
ceptions. During the-rapid German inflation of 1922 - 1923 when prices in marks
were changing very quickly, German shopkeepers found it more convenient to
use dollars as the unit of account. Prices were quoted in dollars even though
payment was made in marks, the German medium of exchange.
The situation in Russia nowadays reminds of that of in Germany.
Money is a store of value because it can be used to make purchases in the
future. To be accepted in exchange, money has to be a store of value. E _____
But money is neither the only nor necessarily the best store of value. Houses,
stamp collections, and interest-bearing bank accounts all serve as stores of value.
Since money pays no interest and its real purchasing power is eroded by inflation,
there are almost certainly better ways to store value.
Finally, money serves as a standard of deferred payment or a unit of ac-
count over time. When you borrow, the amount to be repaid next year is meas-
ured in pounds sterling or in some other hard currency. Although convenient,
this is not an essential function of money. UK citizens can get bank loans specify-
ing in dollars the amount that must be repaid next year. Thus the key feature of
money is its use as a medium of exchange. For this, it must act as a store of value
as well. F _____
Different Kinds of Money
In prisoner-of-war camps, cigarettes served as money. In the 19th century
money was mainly gold and silver coins. These are examples of commodity
money, ordinary goods with industrial uses (gold) and consumption uses (ciga-
rettes), which also serve as a medium of exchange. G _____
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A token money is a means of payment whose value or purchasing power as
money greatly exceeds its cost of production or value in uses other than as mon-
ey.
A $10 note is worth far more as money than as a 3 x 6 inch piece of high-
quality paper. Similarly, the monetary value of most coins exceeds the amount
you would get by melting them down and selling off the metals they contain. By
collectively agreeing to use token money, society economizes on the scarce re-
sources required to produce money as a medium of exchange. Since the manufac-
turing costs are tiny, why doesn't everyone make $10 notes?
Society enforces the use of token money by making it legal tender. The law
says it must be accepted as a means of payment.
In modem economies, token money is supplemented by IOU money. An
IOU money is a medium of exchange based on the debt of a private firm or indi-
vidual. A bank deposit is IOU money because it is a debt of the bank. Bank de-
posits are a medium of exchange because they are generally accepted as payment.
Task 4. Work with a partner. Read the following statements and decide
whether they are true or false according to the text. Correct the false ones.
1) The only function of money is its acceptance as the means of payment.
2) In a barter economy trading is very cheap but time-consuming.
3) In Germany during the inflation of 1922-23 shopkeepers used token money as
the unit of account.
4) Money can never be used as a store of value.
5) In prisoner-of-war camps, there was no money at all.
6) When you have a bank deposit the bank owes you money.
7) Society imposes the use of token money by making it a legal means of pay-
ment.
8) By collectively agreeing to use token money, society saves the resources nec-
essary to produce money as a medium of exchange.
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