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Архитектура Аудит Военная наука Иностранные языки Медицина Металлургия Метрология Образование Политология Производство Психология Стандартизация Технологии |
Материалы для практических занятий: вокабуляр, тексты, упражнения.Стр 1 из 10Следующая ⇒
Материалы для практических занятий: вокабуляр, тексты, упражнения. По дисциплине Профессионально-ориентированный иностранный язык Unit 1. BASIC ECONOMIC LAW. THE ECONOMICENVIRONMENT Text A. The basic laws of economics All wealth is a result of the interaction of desire and scarcity: In order to have value something must first be desired. The amount of value placed on the desired object (goods) or action (services) is based on both the strength of the desire and the scarcity of the object or action in question; nothing else matters including the amount of labor involved in the objects production. An Axiom of this Law is: Economics is the study of human interaction in the form of trade. Since trade itself is an act based in an emotion, desire, and influenced by emotions like fear and self-esteem, it only follows that economics is primarily social science. Differing amounts of desire for objects or actions is the foundation of all trade: The strength of an individual’s desire for objects or actions differs from person to person and from one time to another. This fact is the power behind the desire to trade; the ability to trade what one desires less for something one desires more. An Axiom of this Law is: Trades (monetary or direct) in the absence of coercion or fraud are always mutually beneficial. Consequently in a world of free trade all parties tend to become better off. The amount of wealth within a society is based on its productivity: Almost all things of desire either are consumed, wear out or lose their desirability in some way or another and must be replaced. Wealth increases when a society is able to produce more then it consumes and decreases when it does not. An Axiom of this Law is: Wealth or lack thereof is directly connected with a society’s productivity. Poverty is a result of a lack of productivity and correspondingly societies and individuals become wealthier as their productivity rises The production of wealth is linear: it moves from idea, to production, to desire, to consumption: It should go without saying something must be produced before it is desired, desired before it is purchased and purchased before it is consumed. An Axiom of this Law is: All reductions and increases in economic activity originate with producers. Consumers for their part are reactors, reacting to desires for products already produced and how secure they believe their income from their employers (producers) is. It is producers, who by dismissing workers or threatening to do so, that create economic uncertainty and lowering consumer confidence. Consequently any economic recovery needs to first begin with producers. We measure value (amount of wealth represented) by the price people are willing to pay. Price is the primary means by which the desire and/or need for a product or service is transmitted to others: This is reflected by the fact it is prices that balance supply with demand, determine where and how fast goods and services are provided and are basis by which producers are rewarded or punished for their efforts. Some Axioms of this Law is: Since value (often represented by a product or service’s price) is based in desire and the amount of desire/what is desired is constantly changing; the only way to determine value of things is by through a free market where consumers tell what things are worth by what they are willing to pay. Managed markets consequently are inevitable dysfunctional markets. One of the most important types of economic interactions that is based on value/price law involves labor (described better as applied skills and knowledge). Wages are nothing more than the price paid for services of applied skills and knowledge. The higher the skill and knowledge needed to do a task the rarer it is, this combined with desire for the application of that skill and knowledge creates wage levels. This is again just a reflection of the price law. Wages for applied skill and knowledge cannot exceed the wealth the applied skills and knowledge create (unless wealth is stolen from others to subsidize it). This is similar to the balancing function of prices. This also infers what studies have shown, artificial increases in wages make some jobs and people no longer economically viable as the price paid for their level of skill and knowledge exceeds its value. Just like raising the price of candy bars will reduce demand for them raising wages, even the minimum wage, increases unemployment. Vocabulary
Exercises 1. Find the answers in the text and write them down: 1. Can money be changrd at the hotel in London? 2. Where can money be changed in London? 3. Can only cash be changed? 4. Where can exchange rates be seen? 5. Do bureaux de changechargethe same commission as banks? 6. Are banks open on Saturday and Sunday in London? 7. Do bureaux de change work on Sundays?
2. Complete the sentences as in the text: 1. Banks are usually open from ... until ... 2. Some are ... on Saturday but never .... 3. Many banks have … machine services. 4. Bureaux de change are usually ... longer hours and ..day. 5. They often charge …than banks.6. This is a rule with…
3. Read the following: bureaux de changeeither at banks or at bureaux de change or at customers' services desks They are open every day.They are open every day but not on Sunday. They charge a commission.They charge a bigger commission.The exchange rates are shown in the windows.They are shown in the running lines.The running lines are sometimes placed on the walls for everybody to see. 4. Write down what the text is about using the following phrases:
5. Choose the answer true to the text:
6. Read the following:
7. Complete the dialogues and act out similar ones: — Good ... — Good ... Can I help ...? — Could I ... 200 ... — How much ...? — About 120 ... — Good. Here you ... — Thank you. And how ... smaller notes? — In ... — Fine. Here is receipt, please. — Thank you. — Excuse me, will ... Sunday? — Yes, but ... shorter ... We'll close ...
— One more thing. Can I ..coins .? — I'm afraid I can't ... We ..notes. — Do you believe ... somewhere else? — I'm afraid ... This is a rule ...
8. Underline the articles in the text and explain their usage in every particular case. ü particular — отдельный, частный, определенный
Stages of integration
There are several stages in the process of economic integration, from a very loose association of countries in a preferential trade area, to complete economic integration, where the economies of member countries are completely integrated. A regional trading bloc is a group of countries within a geographical region that protect themselves from imports from non-members in other geographical regions, and who look to trade more with each other. Regional trading blocs increasingly shape the pattern of world trade - a phenomenon often referred to as regionalism. Preferential Trade Area Preferential Trade Areas (PTAs) exist when countries within a geographical region agree to reduce or eliminate tariff barriers on selected goods imported from other members of the area. This is often the first small step towards the creation of a trading bloc. Agreements may be made between two countries (bi-lateral), or several countries (multi-lateral). Free Trade Area Free Trade Areas (FTAs) are created when two or more countries in a region agree to reduce or eliminate barriers to trade on all goods coming from other members. The North Atlantic Free Trade Agreement (NAFTA) is an example of such a free trade area, and includes the USA, Canada, and Mexico. Customs Union A customs union involves the removal of tariff barriers between members, together with the acceptance of a common (unified) external tariff against non-members. Countries that export to the customs union only need to make a single payment (duty), once the goods have passed through the border. Once inside the union goods can move freely without additional tariffs. Tariff revenue is then shared between members, with the country that collects the duty retaining a small share. Common Market A common (or single) market is the most significant step towards full economic integration. In the case of Europe, the single market is officially referred to a the 'internal market'. The key feature of a common market is the extension of free trade from just tangible goods, to include all economic resources. This means that all barriers are eliminated to allow the free movement of goods, services, capital, and labour. In addition, as well as removing tariffs, non-tariff barriers are also reduced and eliminated. For a common market to be successful there must also be a significant level of harmonisation of micro-economic policies, and common rules regarding product standards, monopoly power and other anti-competitive practices. There may also be common policies affecting key industries, such as the Common Agricultural Policy (CAP) and Common Fisheries Policy (CFP). Full Economic Union Economic union is a term applied to a trading bloc that has both a common market between members, and a common trade policy towards non-members, although members are free to pursue independent macro-economic policies. The European Union (EU) is the best known Economic union, and came into force on November 1st 1993, following the signing of the Maastricht Treaty(formally called the Treaty on European Union.) Monetary Union Monetary union is the first major step towards macro-economic integration, and enables economies to converge even more closely. Monetary union involves scrapping individual currencies, and adopting a single, shared currency, such as the Euro for the Euro-17 countries, and the East Caribbean Dollar for 11 islands in the East Caribbean. This means that there is a commonexchange rate, a common monetary policy, including interest rates and the regulation of the quantity of money, and a single central bank, such as the European Central Bank or the East Caribbean Central Bank. Fiscal Union A fiscal union is an agreement to harmonize tax rates, to establish common levels of public sector spending and borrowing, and jointly agree national budget deficits or surpluses. The majority of EU states agreed a fiscal compact in early 2012, which is a less binding version of a full fiscal union. Economic and Monetary Union Economic and Monetary Union (EMU) is a key stage towards compete integration, and involves a single economic market, a common trade policy, a single currency and a common monetary policy. Vocabulary
Exercises 1. Read the following:
2. Translate into Russian: Accounting, accounts, financial statements (Am.), measuring and recording of all relevant financial data, data concerning a particular entity, 1. An entity is a business, government organisation or another organisation. 2. Financial reporting is the communicatinginformation, in an appropriately summarised form. 3. They are communicated to interested parties. 4. Interested parties are within or outside the organizations. 5. This information is useful and informative. 6. It is useful to present and potential investors, creditors and other users. 7. It helps them to make rational investment, credit and other decisions. 8. Accounting is a direct result of the work of accountants and auditors. 9. It helps to answer their questions. 10. Accountants capture the correct data and prepare reports. 11. This financial information is then made available to owners, lenders and other users. 12. Bookkeepers operate some form of accounting system.
3. Complete the sentences using the text: 1. Accounting can be defined... the measuring and recording ... all relevant financial data. 2. ... the UK such summarised form of financial reporting is called... 4.... the USA it is called... 5.Financial reporting provides information that is useful to... and other users. 6. Accounting is a direct result of the work of... 7. Accountants specialise in the art ... capturing the correct data and preparing reports... that data. 8. This financial information is made available to consumers such as... 9. Accountants are assisted in their work... bookkeepers. 10. Accountants report the many thousands... transactions that affect... every year. 4. Make up sentences using the given tables:
5. Underline the auxiliary and modal verbs in the following questions: 1. How much profit was the company able to make last year? 2. How much can I withdraw from the company? 3. Is this company successful? 4. Was last year an improvement? 6. Match English and Russian equivalents:
PECULIARITIES Text B. TYPES OF MONEY There are three types of money in the economy, but as members of the public, we will have only ever used two of them – cash, and the numbers in your bank account.[/first] 1. CASH: Physical money, or cash, is created under the authority of the Bank of England, with coins manufactured by the Royal mint, and notes printed by specialist printer De La Rue. The profits from the creation of cash (known as seigniorage) go directly to the government. Of course, it is inconvenient and risky to use cash for larger transactions. This is one of the reasons why today cash makes up less than 3% of the total money supply. Nowadays people use credit and debit cards, which allow money to be transferred electronically between bank accounts (see point 3). CENTRAL BANK RESERVES Central bank reserves are a type of electronic money, created by the central bank and used by banks to make payments between themselves. In some respects they are like an electronic version of cash. However, members of the public and normal businesses cannot access central bank reserves, as they are only available to those organisationswho have accounts at the Bank of England, i.e. banks. Central bank reserves are not counted as part of the money supply for the economy, due to the fact that they are only used by banks to make payments between themselves. COMMERCIAL BANK MONEY The third type of money accounts for approximately 97% of the money in circulation. However, unlike central bank reserves and cash, it is not created by the central bank or any other part of government. Instead, commercial bank money is created by private, high-street or ‘commercial’ banks, usually in the process of making loans (as described below). While this money is electronic in form, it need not be – before computers, banks could still ‘create money’ by simply adding deposits to their balance sheets. Commercial bank money is referred to by various names, including: bank deposits, sight deposits, demand deposits, time deposits, term deposits, bank liabilities and bank credit. Text C. BANKING The next day the session was devoted to the United KingdomBanking Sector. Here is the short summary of the lecture:
Ø Retail Banks: They render numerous services for private customers and have extensive branch networks in the UK. They participate directly in the UK clearing system. Ø Discount Houses: They are mostly engaged in discounting bills of exchange for the corporate sector. Ø British Merchant Banks: These are wholesale banks handling big money for private and corporate customers. They are engaged in mergers, take-overs and acquisitions. They also provide consulting services. Ø Other British Banks: Comprise all other UK registered banking institutions and certain banks in the Channel Islands and the Isle of Man. Theyarecontrolledby UK companiesorindividuals. Ø American Banks: Comprise the branches and subsidiaries of US banks. Ø Japanese Banks: Comprise the branches and subsidiaries of banks based in Japan. Ø Overseas Banks: Comprise the branches and subsidiaries of non- American or non- Japanese banks and Consortium banks. These are jointly owned by other financial institutions, one of which must be based overseas. Ø Building Societies: In the past they mostly extended mortgage loans, but nowadays they also widely practice taking in deposits and they practically operate as banks. Vocabulary
Exercises 1. Read the following: The next day, in the past,otherbanks,the Channel Islands,the Isle of Man, the United Kingdom,the corporate sector. They are engaged in mergers. They are engaged in take-overs. They are engaged in acquisitions. They are mostly engaged in discounting bills.Here is the short summary of the lecture.There are ninety-two building societies in the UK. These are wholesale banks. 2. Answer the following questions: 1. What topic was the lecture devoted to? 2. How many retail banks are there in Britain? 3. How many discount houses are there? 4. How many merchant banks are there? 5. How many other British banks are there? 6. What foreign banks are located in the UK? 7. How many building societies are there in Britain? 2. Translate into Russian: Banking, merchant, banks, banking sector, overseas banks, retail banks, building societies, discount houses, clearing system, to discount bills, acquisition, private, customer, consulting services, corporate, customer, branch, corporate sector, subsidiary, merger, mortgage, take-over, mortgage loan. 3. Choose the definitions for the following terms:
4. Complete the sentences using the information from the text: There are a few types of foreign banks based in Britain. They are American, Japanese and other overseas banks. American banks ... Japanese banks ... Overseas banks ... 5. Fill in articles: 1. ... next day ... session was devoted to ... United Kingdom Banking Sector. 2. Here is ... short summary of... lecture.3.... UK Banking Sector comprises retail banks, discount houses, merchant banks, foreign banks, building societies and other banks. 4. They participate directly in … UK clearing system. 6. Fill in prepositions: 1. Retail banks render numerous services ... private customers and have extensive branch networks ... the UK. 2. They participate directly ... the UK clearing system. 3. Merchant banks are wholesale banks. They handle big money ... private and corporate customers. 4. They are engaged ... mergers, takeovers and acquisitions. 5. Nowadays building societiesalso widely practice taking … deposits and they practically operate as banks. 7. Complete the sentences: 1. Discount houses are mostly engaged in discounting ... 2. American banks comprise the branches ... 3. Japanese banks comprise ...4. In the past British building societies mostly extended mortgage ... but nowadays they also ... as banks. 8. Underline the verbs and translate the sentences into Russian: 1. Other British banks comprise all other banking institutions registered in the UK and banks in a few islands. 2. They are controlled by UK companies or individuals. 3. Overseas banks are foreign banks excluding (исключая) American and Japanese banks. 4. They comprise the branches and subsidiaries of those banks and Consortium banks too. 5. All these banks are owned by other financial institutions. 6. One of the owners of every bank must be based overseas. 9. Role play: Imagine you are a lecturer. Speak on the types of banks in Great Britain. 10. Agree or disagree: Types of banks in Kazakhstan are similar to those in Great Britain. Text C. TAXATION On a certain day after the lecture on the UK taxation system the Group was to visit the Tax Department of a lawyers' firm in the centre of London. Mr. Brown and the participants went there by tube which is the fastest means of transport when one wishes to move in the centre of the city. After they got into the building of the firm they went to the secretary's office. Mr. Brown: Good afternoon. Secretary: Good afternoon, sir. Mr. Brown: My name is Brown and here is the Group of businessmen from Kazakhstan. We have got an appointment with Mr. White for three. Secretary: Mr. White is waiting for you in the conference room. Follow me, please. In the conference room a few Englishmen were waiting for the Group. Mr. White, Head of the Department, welcomed the Group and introduced his colleagues. They were solicitors and legal assistants of different offices. Each of them spoke about his scope of business for some time. Thus the participants had some information on commercial taxes, international taxes, Project Finance taxes and other taxation matters. A lot of questions were asked and answered then. The discussion was very useful and informative. Before the participants left they were offered latest Tax Guides containing current tax rates and tax saving hints. Here is an extract from the Guide: CorporationTaxRates 2014 à Standardrate 33% à Small companies rate (see the note) 25% N o t e Applicable if the company's total profits, including chargeable gains, are 300.000 pounds sterling or less. The threshold is reduced if the company has associated companies. Vocabulary
Exercises 1.Read the following: After the lectureonthe UK taxation system, the Tax Department,in the centre of London, they went there by tube. It is the fastest means of transport. They went to the secretary's office. In the conference room, an extract from the guide 2. Choose the answers true to the text:
3. Match English and Russian equivalents:
4. Translate into Russian: 1. A lot of topics were discussed in the course of the Programme. 2. Many lecturers were invited. 3. Many materials were distributed. 4. Similar programmes are organised now too. 5. I believe similar programmes will be oiganised in future too. 5. Fill in articles: 1. On... certain day after... lecture on... UK taxation system.... group was to visit... Tax Department of... lawyers' firm in...centre of London. 2. Mr. Brown and... participants went there by tube which is... fastest means of transport. 3. After they got into ... building of the firm they went to ... secretary's office.4.Here is ... Group of businessmen from ... Kazakhstan.5.Mr. White is waiting for you in ... conference room. 6.... lot of questions were asked and answered then. 6. Fill inprepositions: 1. After they got... the building ...the firm they went.. . the secretary's office. 2. Mr. Brown spoke... the secretary for some time. 3. Then they moved... the conference room. 4. ... conference room a few Englishmen were waiting... the Group. 5. Each ...them spoke about his scope ... business ... some time.6.The participants had some information ... commercial taxes, international taxes, Project Finance taxes and other taxation matters. 7. Complete the sentences: 1. Mr. White,..., welcomed the Group and introduced... 2. They were solicitors... of different offices. 3. Each of them spoke... 4. Thus the participants had some information on... and other taxation matters. 5. A lot of... answered then. 6. The discussions were... 7. Before the participants left they were offered ... hints. Vocabulary
Exercises 1. Match English and Russian equivalents:
2. Complete as in the text: 1. VAT is a... tax. 2. At present the standard... 3. Everyone in Britain must... on almost... 4. VAT is usually incorporated... 5. Visitors to Britain can... 6.When they leave... and present the appropriate... issued by... 7. Usually when they buy... if the shop operates... Материалы для практических занятий: вокабуляр, тексты, упражнения. |
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