Файл: М-803. Маковская.The more we know, the better.doc

Exercise II. Choose the right word or word combination:

1. The economy of Great Britain is …

a) developing; b) highly developed.

2. British government controls …

a) import and export; b) production of coal, steel, ships, the railway and certain utilities.

3. Britain lives by …

a) industry and trade; b) agriculture.

4. Britain is a major …

a) producer of raw materials; b) financial and commercial centre of the capitalist world.

5. British manufacturing employs …

a) more than one-fifth of all workers; b) half of the total population.

6. The United Kingdom is the … in size of its GNP.

a) first; b) fifth.

Exercise III. Agree or disagree with the following statements according to the text.

1. The economy of Great Britain is among less developed countries in growth rates and competitiveness.

2. The United Kingdom has a developed mixed private-and public enterprise economy.

3. The state sector increased considerably during the 1980s and 1990s.

4. Small companies dominate in the economy of the U.K.

5. Agriculture accounts for more than 50% of the GNP.

6. The United Kingdom’s coal industry remains the largest and most technologically advanced in Europe.

Exercise IV. Answer the questions on the text.

1. What kind of country is Great Britain from the economic point of view?

2. What made Great Britain a commercial and maritime power?

3. What is the rank of the U.K. in the world in terms of the GNP?

4. What are the major industries in the U.K.?

5. What are the main economic problems in the U.K.?

6. Is Great Britain self-sufficient in petroleum?

7. In what sector of economy is the highest proportion of employees?

Text B. The Economy of the Republic of Belarus

Read and translate the text.

The Republic of Belarus is a developing industrial country. Its economy has been developing rather successfully. Now Belarus is one of the most economically advanced regions among CIS countries³⁹. Belarus was the first republic of the former Soviet Union which not only reached but doubled the level of economic development of 1991.

Belarus has a favourable geographical position, developed network of transport communications connecting Europe and Asia, highly skilled workforce. Thanks to all these factors Belarusian economy can produce competitive products and sell them on foreign markets, increase and diversify its export, especially to CIS countries. Tractors and trucks, buses and trolleybuses, chemical and petrochemical goods are in demand on the world market. Nowadays Belarus produces 31% of the world trucks, 14% of potassium (potash) fertilizers⁴⁰ and 7% of tractors in the world.

The industrial complex of the Republic of Belarus accounts for more than 30% of the GDP. Over 27% of Belarusian population is employed in it. The industrial complex is represented by mechanical engineering and metal-processing, chemical and petrochemical industries, electric power and fuel industries, wood and wood-processing industries⁴¹, construction materials, light and food-processing industries⁴².

The largest share of the mechanical engineering complex belongs to automobile industry. Its products are highly competitive, which is proved by growing export.

Minsk Tractor Works (MTZ) produces a large range of tractors, special-purpose machines: utility, loading, timber and mine machines⁴³.

Minsk Motorcycle and Bicycle works manufactures bicycles for children, juniors, ladies and men.

Atlant refrigerators-making company produces about 25 different models of refrigerators which meet the requirements of the consumers in different countries. The company has started to produce washing mashines, electric tea pots, vacuum cleaners and other electric home devices. These new lines of goods will help to decrease import of such goods from foreign countries.

Minsk Automobile Plant produces buses which meet the highest world standards.

Automobile Plant in Zhodino manufactures trucks which are in great demand in the countries of Far and Middle East.

About 20% of the population of our Republic are employed in the agricultural-industrial complex. Here in Belarus we grow rye, wheat, barley, oats, sugar beets, flax, potatoes, fruits and vegetables.

The food –processing industry includes over 20 sub-industries. There are productions of meat, dairy, sugar, confectionary, vegetable oil, spirit, beer, soft drinks and tobacco in our Republic.

Belarus is not very rich in natural resources. We have to import gas, oil, electricity from Russia and some other countries. But still the deposits of 30 different minerals have been found in Belarus. The country is reach in non-metallic materials: peat⁴⁴, granites, dolomites⁴⁵, marble and chalk and clay⁴⁶. Our Republic possesses unique reserves of mineral waters both for drinking and balneological purposes⁴⁷.

On the whole our economy has been dynamically developing (for the past years) recently. But, of course, there are a lot of problems to be solved. We must develop foreign trade not only with CIS countries but with different countries all over the world. Of course, we need investments, so the investment climate should be improved. A lot of steps have been made in this direction, but, of course, a lot must still be done.

So we can see that the Republic of Belarus has all the necessary economic conditions to become a country with developed economy, with happy well-being population, to be competitive in the world, to be an equal member of the European Union.

Exercise I. Match English and Russian equivalents.

Exercise II. Complete the sentences using the right word or word combination.

Economically advanced, competitive products, meet the requirements, to decrease import, the highest world standards, in great demand, unique reserves, investment climate, industrial country, industrial complex.

1. Belarusian economy can produce … … and sell them on foreign markets.

2. … … of the Republic of Belarus accounts for more than 30% of GDP.

3. Belarus is one of the … … regions among CIS countries.

4. Belarus needs investments so … … should be improved.

5. The Republic of Belarus is a developing … … .

6. Atlant refrigerator – making company produces refrigerators which … ... of the consumers in different countries.

7. Automobile Plant in Zhodino manufactures trucks which are … … in the countries of Far and Middle East.

8. Our Republic possesses … … of mineral and drinking waters.

9. Belarusian manufacturers have started to produce new lines of goods which will help … … of such goods from foreign markets.

Exercise III. Answer the following questions on the text.

1. How has Belarusian economy been developing lately?

2. Is Belarus one of the most economically advanced regions among CIS countries?

3. What are the advantages of the geographical position of our republic?

4. What Belarusian goods are competitive on the world market?

5. How many people are employed in agricultural-industrial complex?

6. What problems are to be solved by Belarusian economy?

Exercise IV. Think and answer.

What are the main differences and similarities of British and Belarusian economies?

UNIT 5

Small Business

Vocabulary Study

1. business [´bɪznɪs] – бизнес, коммерческая деятельность.

2. a business – фирма.

3. an owner [´əunə] – владелец.

4. a franchise [´fræntʃaɪz] – франшиза, лицензия крупной известной фирмы мелкому предпринимателю для продажи продукции или предоставления услуг.

5. to distribute goods [dɪs´trɪbju:t´gudz] – распределять (распространять) товары.

6. to sell smth. at retail [´ri:teɪl] – продавать в розницу.

7. management consulting [´mænɪdʒmənt kən´sʌltɪŋ] – консалтинг по менеджменту.

8. to prevent monopolistic control – предотвращать монополистический контроль.

9. to preserve competion [prɪˈzə:v ֽkɔmpɪˈtɪʃən] – сохранять конкуренцию.

10. procurement [prə´kjuəmənt] assistance [ə´sɪstəns] – материально-техни-ческая помощь.

11. Gross [grəus] National Product – валовой национальный продукт.

12. to create [krı´eıt] new jobs – создавать новые рабочие места.

13. to supply [sə´plaɪ] – поставлять.

14. a supplier [sə´plaɪər] – поставщик.

15. ownership [´əunəʃɪp] – собственность.

16. retailing [ri:´teɪlıŋ] – розничная торговля.

17. wholesaling [´həulseɪlıŋ] – оптовая торговля.

18. manufacturing [´mænju´fæktʃərɪŋ] – производство.

19. best prices – низкие цены.

20. to start a business – открыть свое дело.

21. to operate a business [´ɔpəreɪt] – управлять компанией.

22. to be liable to [´laɪəbl] – отвечать по обязательствам (компании).

23. total assets [´təutl ´æsets] – общая стоимость имущества, сумма баланса.

24. net worth [net wə:θ] – стоимость имущества за вычетом обязательств, собственный капитал (предприятия).

25. gross profits [grəus ´prɔfɪts] – валовая прибыль.

26. net profits – чистая прибыль.

27. a payroll – платежная ведомость.

28. net receipts [net rɪˈsi:ts] – чистая выручка, чистые доходы, чистые денежные поступления.

29. total sales [´təutl seɪlz] – общий объем продаж, товарооборот.

30. a return [rɪ´tə:n] – возмещение, возврат.

31. allowances [ə´lauənsız] – начисления (например, сумма накладных налогов).

32. a tax [tæks] – налог.

33. tax benefits [´tæks ´benɪfɪts] – налоговые льготы.

34. liabilities [ֽlaɪə´bɪlɪtɪz] – обязательства.

Exercise I. Read the following international words and guess their meaning. Mind the stress.

E´conomy, fi´nancial, a´ssistance, moֽnopo´listic, ´product, ´capital, ´franchise, ´service, ´function ´export, con´sulting, ֽtechno´logical, e´conomist, ´bankruptcy, in´competence.

Exercise II. Memorize the following pairs of derivatives.

Exercise III. Transform as in the model.

Model. Тo provide assistance – providing assistance

to own a business; to give tax benefits; to support a company; to buy a franchise; to start a business; to choose a business; to define a term; to sale at retail.

Text Study

Text A. Small Business

Read and translate the text.

Small business plays a very important role in the economy of any country. Today small businesses are the heart of the market economy, that is why governments support small businesses by giving them tax benefits and providing financial and procurement assistance. The existence of strong healthy small business is the best way to prevent monopolistic control in any industries, preserve competition and thus assure the population of better products at better prices.

A small business – what is it? It is a business which is independently owned and operated. The owner of the firm is usually its operator. He provides the capital and is liable to all duties of his company. People become owners and operators of a small business in one of three ways: start a new firm, buy a franchise, buy or inherit an existing firm.

Small businesses are involved in different kinds of business. They manufacture and distribute goods, sell them at retail and provide different services. The majority of small firms serve only local markets; others function in national and international markets. In recent years there has been an increase of export services, such as management consulting, medical and technological services.

Numerous definitions of the term “small business” exist, but the economists believe that the size of the firm is most important. The size of a small firm must be small (as compared with large firms within one industry). The size of a firm is defined by sales volume in retailing and service and by the number of employees in manufacturing.

The economists use the following terms to define a small business. They are:

– Total assets – all that a business owns.

– Net worth – business assets less what is owed.

– Gross profits – money left from sales after all expenses (exept taxes) have been paid.

– Net profits – what is left from gross profit after business income taxes are paid.

– Income – money left after all taxes are paid and liabilities fulfilled.

– Number of employees – total number of workers and managers listed on the payroll.

Most anyone can start a business. The important factor, however, is to keep it going. If you are energetic, have imagination and desire to do a better job or provide a better service you may try. The next step is to choose the right business. It is an important and difficult task. You should consider your plans, preferences and abilities while choosing your own business. When your choice is made you must be fully prepared for it.

An employee works for wages, and a business owner works for profits.
A business owner should have courage to risk his money in the hope of making profits. To earn the profits a business owner should have management ability.
A person does not start a business with the intention of failing. Businesses fail due to incompetence. Management ability does not come automatically. All small business owners should have some knowledge of economy and business, understand the factors which affect them, must make business decisions on business considerations, must know where to get help if it is needed.

Assistance can come from bankers, advisors, government officials and suppliers who are interested in the success of a small business. Small business owners can study management taught by professionals at evening courses, private business schools and colleges.

Exercise I. Match English and Russian equivalents.

1. to support small business

2. to give tax benefits

3. to prevent monopolistic control

4. to preserve competition

5. better products at better prices

6. to provide capital

7. to be involved in different kinds of business

8. volume in retailing and service

9. to work for profits

10. to have management ability

1. предоставить капитал

2. объем розничных продаж и услуг

3. предотвращать монополистический контроль

4. работать ради получения прибыли

5. товары лучшего качества по более низким ценам

6. предоставлять налоговые льготы

7. поддерживать малый бизнес

8. сохранять конкуренцию

9. заниматься разного рода коммерческой деятельностью

10. быть способным управлять

Exercise II. Choose the right word or word combination.

1. Governments support small businesses by … .

a) controlling; b) giving them tax benefits.

2. The existence of strong healthy small business is the best way …

a) to increase sales; b) to prevent monopolistic control.

3. A small business is one which … .

a) produces goods; b) is independently owned and operated.

4. The majority of small firms … .

a) export goods; b) serve only local markets.

5. Assistance can come from … .

a) relatives and friends; b) bankers, advisors, government officials.

Exercise III. Complete the sentences according to the text.

1. Small businesses are … .

2. Small businesses assure the population of … .

3. The owner of a small firm is … .

4. People become owners and operators of a small firm … .

5. The size of a firm is defined by … .

6. A business owner should have courage to risk his money … .

Exercise IV. Match the words with their definitions.

loan, partnership, assets, retailing, payroll, sales, gross profit, net worth, net profit, profit.

1. The entire resources of a person or business, tangible and intangible, such as accounts and notes receivable, cash, inventory, equipment, real estate, good will, etc.

2. The act of operating a retail business.

3. The capital investment an individual or partners have in a busi­ness after the liabilities have been subtracted from the assets, that is, the capital value of the business.

4. A surplus that remains after the cost of goods is subtracted from the total receipts.

5. A surplus after all the expenses have been paid, including opera­ting expenses such as heat, light, rent, and wages, but excluding taxes.

6. A list of employees who are paid periodically by a firm, along with other information, also includes the money to pay employees.

7. A bookkeeping term referring to the amount of income derived from the sale of merchandise or services, both for cash and on account, less taxes, returns, and allowances.

8. An amount of money that is borrowed and must be paid back by a certain date or ondemand, usually interest is charged on the money borrowed.

Exercise V. Answer the questions on the text.

1. How do people become owners and operators of small business firms?

2. Why are small firms established?

3. Why are small companies very important for economies of any country?

4. What facts illustrate the importance of small business?

5. Can you define a small business?

6. What is the most important characteristic of a small business?

7. What terms describe the size of a business?

Exercise VI. Think and answer.

1. Is it difficult to start a small company in our republic?

2. Where can a small business owner get help in our republic?

3. Prepare a list of 5 firms and classify each of these firms as large, medium or small.

Text B. Small Business Administration

Read, translate and summarize the text.

The Small Business Administration / SBA / is a federal agency which was established in 1953. Its major purposes are to advise, assist, and protect small business. The SBA has 10 regional offices and over 90 district and branch offices located in large cities in each of the 50 states in the USA. When planning a business, it is wise to find the nearest SBA office in your area and to make use of its resources. The SBA provides assistance in three major areas: financial advice, procurement of markets, consultation services in management and technical problems.

The SBA makes direct business loans or helps small business get loans from commercial banks. The Small Business Investment Act of 1958 was passed to help finance small businesses. Under this act the SBA licenses and supervises privately owned loan agencies. They are called Small Business Investment Companies /SBIC/ and they provide long-term funds only to small businesses. They are organized by local citizens and chartered under the corporation laws of the state in which they are located.

The SBA is involved in helping small businesses to find a market for their products. They try to bring the small businesses in contact with government agencies which buy the products they sell.

The SBA cooperates with colleges and universities to set up small business research studies. SBA sponsors a Small Business Institute Program with 450 Schools of Business Administration. It also offers evening courses at many local colleges. These evening courses are usually six to eight weeks in length.

Staff specialists in regional SBA offices are able to help individual business owners with the problems of operating their businesses. The SBA has also organized a service group of retired business executives who offer their advice free to small business owners with special problems.

The SBA is authorized under the Small Business Administration Act of 1958 to lend money to local development companies in amounts of up to 500,000 US dollars. The local development companies use the money to finance projects for small firms. Some of the ways the money is used include:

• Economic opportunity loans to help socially or economically disadvantaged persons to own and operate the business.

• Local development company loans.

• A variety of loans designed to offset the hardships of economic emergencies.

The USA federal government passed the Small Business Innovation Development Act of 1982 that created the Small Business Innovation Development Program to provide financial assistance to small companies for high-technology and scientific development projects.

UNIT 6

Banking

Vocabulary Study

1. an institution [ֽɪnstɪ´tju:ʃən] – учреждение, общество, организация.

2. to deal with [di:l] – заниматься чем-либо.

3. payment [΄peımənt] – уплата, оплата, платеж, плата.

4. on behalf of [bı´ha:f] – от лица, от имени (кого-либо).

5. a deposit [dɪ´pɔzɪt] – вклад в банке; депозит, взнос.

6. a loan [ləun] – заем, ссуда, кредит.

7. to seek to do smth [si:k] – пытаться (стараться) что-либо сделать.

8. annual [΄ænjuəl] – ежегодный, годовой, годичный.

9. an interest [΄ıntrıst] – процент (ссудный).

10. a pattern [pætən] – пример, модель, образец.

11. profit [´prɔfɪt] – прибыль, доход; выгода, польза.

12. to shift [∫ıft] – перемещать, передвигать, перекладывать.

13. circulation [ֽsə:kju´leɪʃən] (of money) – (денежное) обращение.

14. to reduce [rı΄dju:s] – снижать, уменьшать, сокращать.

15. a rate [reıt] – ставка, процентная ставка.

16. to implement [΄ımplıment] – проводить в жизнь, претворять, выполнять.

17. to accept [ək΄sept] – принимать.

18. issue [´ɪʃu:] – выпуск.

19. exchange rate [ɪks´tʃeɪnd_з] – обменный курс.

20. supply [sə´plaɪ] – поставка, снабжение; запас.

21. currency [´kʌrənsɪ] – валюта, деньги.

22. to exist [ıg΄zıst] – быть, существовать, иметься.

23. to increase [ın΄kri:s] – увеличивать, повышать, усиливать.

24. growth [grəuθ] – рост.

25. the living standard [΄stændəd] – уровень жизни.

26. a range [reɪndʒ] – ряд, область, круг, сфера.

27. a current account [´kʌrənt] [ə´kaunt] – текущий счет.

28. to enable [ı΄neıb(ə)l] – давать (кому-либо) возможность (право).

29. to withdraw [wɪð´drɔ:] – забирать, изымать, снять, отзывать.

30. to pay in – вносить;

to pay into an account – вносить на счет;

to pay out – выплачивать;

to pay out of an account – снимать деньги со счета.

31. to handle [΄hændl] обращаться (с кем-либо или с чем-либо); вести, иметь (дело) с чем-либо.

32. a deposit account – депозитный счет.

33. resource [rɪ´sɔ:s] –средство, способ;

cash resources – денежные средства.

34. to earn [ə:n] – приносить доход.

35. to invest [ın΄vest] – инвестировать, вкладывать денежные средства.

36. foreign exchange – иностранная валюта;

foreign exchange transaction [træn΄zækt∫(ə)n] – сделка (операция) с

иностранной валютой.

37. cash dispenser [dɪs´pensə] – автомат для выплаты наличных.

38. safe custody [´kʌstədɪ] – хранение банком ценностей клиентов.

39. competition [ֽkɔmpɪ´tɪʃən] – конкуренция.

Exercise I. Read the following international words and guess their meaning. Mind the stress.

′services, co′mmercial, fi′nancial, ac′tivity, de′posit, ′private, ֽindi′vidual, per′cent, ֽvari′ation, ′naturally, ֽsitu′ation, ֽgeo′graphical, ′region, ′stimulate, ′progress, con′struction, ֽcircu′lation, ′operate, ob′jective, ′central, ′monetary, ′policy, ′function, con′trol, ′banknote, re′serves, ′standard, in′vest, ′period, ′credit, com′bine, ֽinter′national, coֽmmunica′tion, ֽtranspor′tation.

Exercise II. Memorize the following pairs of derivatives.

to pay – payment

to accept – acceptance

to construct – construction

to circulate – circulation

to reduce – reduction

to operate – operation

to manage – management

to withdraw – withdrawal

to invest – investment

to compete – competition

commerce – commercial

finance – financial

variation – various

geography – geographical

economy – economic

simple – simply

cheap – cheaply

dear – dearly

annual – annually

natural – naturally

Exercise III. Transform as in the models.

Model 1: to accept payment – the acceptance of payment

to stimulate progress; to reduce rates; to attract buyers; to organize a bank; to implement monetary policy; to develop services.

Model 2: severe competition – to compete severely

financial activity; annual growth; progress payment; direct investment; urgent withdrawal.

Text Study

Text A. Banking

Read and translate the text.

One can’t imagine our life without bank services. There is a bank in every small town, and a big city may have tens of them. Bank is a commercial institution involved in a variety of financial activities. Banks deal mainly with making and receiving payments on behalf of their customers, accepting deposits and making short term loans to private individuals, companies. To put it simply, a bank seeks to “buy” money cheaply at an annual six – percent interest, for example, and to sell it dearly at an annual rate of 11%. There are many variations within this pattern, of course.

Naturally, the banks put their money where it brings them the highest profit. That is why they always keep up to date with the market situation. By shifting money of various “costs” from sphere to sphere, from one geographical region to another, the banks actively stimulate progress in industry, construction and agriculture.

Banks are interested in keeping most of their money in circulation so that it should bring them profit. They seek to reduce their lending rates in order to attract buyers.

The way in which a bank is organized and operates is determined by its objectives and by the type of economy in which it conducts its business. A bank may not necessarily be in business to make a profit. Central banks, for example, provide financial and banking services for the government of a country and its commercial banking system, implementing the government’s monetary policy. The main functions of a central bank are: to manage the government’s accounts; to accept deposits and grant loans to the commercial banks; to control the issue of banknotes; to help manage the exchange rate when necessary; to control the money supply; to hold the country’s reserves of gold and foreign currency; to deal with other central banks. Examples of major central banks include the Bank of England in the UK, The Federal Reserve Bank of the USA, the Deutsche Bundesbank in Germany, France’s Banque de France, The Central Bank of Russia and others.

Commercial banks exist to increase the economic growth of a country and raise the living standard of its population. On the other hand, the aim of commercial banks is to earn profits. Therefore they provide and develop services that can be sold at a price that will yield a profit. Bank services cover a large range of activities today. Among them are the following:

1. Current account services.

The current account pays no interest but it has other advantages. Firstly, it enables people to keep their money in a safe place. Secondly, it allows them to withdraw it at any time. Thirdly, it provides them with a cheque book so that they do no have to carry a lot of cash. Money is being paid into and paid out of the account as often as the customer finds convenient. A current account is used for handling day – to – day finance.

2. Deposit account services.

Companies and individuals can deposit cash resources that are not needed at present. They can withdraw the money either any day they need it or after a certain period in case of time deposits. A deposit account earns for the customer and is used for saving money. The bank invests the money that the customer pays in and in return, the bank pays the customer interest.

3. Other services: foreign exchange; foreign exchange transactions; services in foreign trade payments; granting loans; investment management services; cash dispensers; safe custody; bank credit cards and many others.

Several factors have combined to make banking an international business. These include the growth of multinational companies and of international capital markets, the increased competition between the banks themselves and important improvements in communications and transportation.

Exercise I. Match English and Russian equivalents.

1. on behalf of their customers

2. one can’t imagine

3. within this pattern

4. keep up to date

5. implementing the government’s

policy

6. to deal with other banks

7. current account pays no interest

8. to yield a profit

9. enables people to keep their

money

10. money is being paid into and

paid out of the account

1. иметь последние сведения (быть в курсе)

2. работать с другими банками

3. приносить доход

4. деньги вносятся на счет и снимаются со счета

5. от лица (от имени) своих клиентов

6. проводя политику правительства

7. дает возможность людям хранить свои деньги

8. невозможно представить

9. по текущему счету не выплачиваются проценты

10. в рамках этого приема (схемы, модели)

Exercise II. Choose the right word or word-combination.

1. Bank is a commercial … .

a) institute; b) institution; c) court.

2. That is why they always keep up to date with the market … .

a) problems; b) place; c) situation.

3. They seek to reduce their lending rates in order … buyers.

a) to attract; b) to help; c) to surprise.

4. The banks put their money where it brings them … profit.

a) the excess; b) the lowest c); the highest.

5. Commercial banks exist … the economic growth of a country.

a) to increase; b) to improve; c) to influence.

Exercise III. Complete the sentences according to the text.

1. Banks deal mainly with … .

2. By shifting money of various “costs” … .

3. Banks are interested in keeping … .

4. Central banks, for example, provide … .

5. Money is being paid … .

6. They can withdraw the money … .

Exercise IV. Answer the questions on the text.

1. What is a bank by definition?

2. In what way do banks stimulate progress in different fields of economy?

3. Why are banks interested in keeping their money in circulation?

4. Why do banks reduce their lending rates?

5. What are the main functions of a central bank?

6. What is the purpose of commercial banks?

7. Could you name the range of commercial banks’ services?

8. What are the advantages of current account?

9. What factors make banking an international business?

Exercise V. Imagine that your friend is thinking of opening a bank account. Try to help him answer his questions. Match the line in “A” with a line in “B”.

“A”

1. How can a bank help me arrange my future?

2. How can a bank help if I want to go abroad?

3. How can a bank account help me earn money?

4. If all my money is in bank, how can I pay shops and restaurants?

“B”

1. You can pay by cheque.

2. If you put your money into a deposit account, it will earn interest for you.

3. You can get travellers cheques and order foreign currency from a bank. In many Europeans countries, shops and restaurants accept your normal cheques as Eurocheques.

4. A bank can advise you on money problems in general. It can help you by lending you money and also with things like buying a house and running a business.

Exercise VI. Read the dialogue and reproduce it.

Richard: Good morning.

Cashier: Good morning, sir.

Richard: I’d like to open an account, please.

Cashier: Certainly, sir. Do you live in Geneva?

Richard: Yes, I’m at the Interpreter’s School.

Cashier: Are you a student?

Richard: Yes.

Cashier: What sort of account would you like?

Richard: A current account, I think.

Cashier: Have you got any large sums to deposit?

Richard: No, only a thousand francs or so a month.

Cashier: Well, we can open a current account with a check-book for you as

long as the initial sum is at least three thousand franks. But I’d advise you in your case to take an account that gives you interest and which is more practical. We normally advise students to open deposit accounts.

Richard: Can I take out money whenever I like?

Cashier: Yes. There are two or three types of account. They permit you to withdraw up to ten thousand francs a month.

Richard: Can I receive money directly from abroad?

Cashier: Certainly.

Richard: Do I need a passport?

Cashier: Yes.

Richard: I’m afraid I haven’t got it. Will my student card do?

Cashier: No, I’m afraid not.

Richard: I’ll come back later, then.

Cashier: Very good, sir.

Exercise VII. Retell the story about Richard.

Exercise VIII. Think and answer.

1. What is the difference between a current account and a deposit account?

2. How is a bank compared to any other business?

Exercise IX. Discuss in pairs or in groups.

You have some money to save. What will you do with this money? Will you simply put it in a box under the bed or make your money earn profit for you?

Text B: Belarusbank

Read and translate the text.

Belarusbank’s history goes back to 1922. It is the largest commercial bank of the Republic. For many decades it has been preserving the best traditions of Belarus’ financial system and is considered one of the most reliable banks in the country. In a fast developing Belarus, it is recognized⁴⁸ as a leader in the national banking system. And this is not only due to the fact⁴⁹ that it possesses⁵⁰ the largest assets⁵¹, foundation capital, and number of customers, but also to the significant contribution⁵² that the bank makes into the development of the country’s economy.

Belarusbank is a universal commercial bank that offers a lot of banking services. It is oriented toward⁵³ working with private persons and corporate customers. As for the position of Belarusbank within the national banking system it should be noted that 45 percent of all attracted funds⁵⁴ and one third of all granted loans⁵⁵ fall on the bank. It holds about 90 percent of the population cash means⁵⁶.

Belarusbank’s leadership on the domestic market is becoming more and more stable with every year. The top – priority guidelines⁵⁷ of the bank include support of national producers and foreign investors, increasing bank shares in foreign trade, expanding the range of banking products and services.

Belarus bank’s customers are able not only to receive a wide variety of banking services, but they also have an opportunity to solve practically any problem related to running⁵⁸ “private business”. The bank offers services such as lending⁵⁹, leasing⁶⁰, factoring⁶¹, both domestic and international, investment banking, etc. A wide network of correspondent accounts⁶² allows the transfer of payments in any currency to any country of the world.

The bank is an active member of international payment system such as EUROPAY, VISA, and the national payment system, BELKARD.

As for credit operations, the bank prefers enterprises that deal with transport, communication, woodworking, mining, metallurgy, trade, manufacture, etc. Among the major bank’s borrowers there are large industrial enterprises such as Belaruskaliy, Polimir, Belneftekhim and Belarussian Metallurgy Steel Works which export their products to more than 100 countries around the globe in the amount of more than $ 1 billiard annually.

Exercise I. Summarize the text giving the most important information.

UNIT 7

Job Hunting. People and their Jobs

Vocabulary study

1. to earn [ə:n] – зарабатывать.

2. job hunting [´dʒɔb ´hʌntɪŋ] – поиск работы.

3. a skill [skɪl] – мастерство, искусство, умение.

4. long division [´lɔŋ dɪ´vɪʒən ] – письменное деление столбиком.

5. attitude [´ætɪtju:d] – позиция, отношение.

6. search [sə:tʃ] – поиск.

7. impatience [ɪm´peɪʃəns] – нетерпение, нетерпеливость.

8. despair [dɪs´pɛə] – отчаяние, безысходность.

9. a position [pə´zɪʃən] – должность, место.

10. ads (advertisements) [əd´və:tɪsmənts] – объявления, реклама.

11. a recruiter [rɪˈkru:tə] – вербовщик, агентство по найму.

12. a cover letter [´kʌvə ´letə] – сопроводительное письмо.

13. to enclose [ɪn´kləuz] – прилагать.

14. a resume [´rə(ɪ)zjuməɪ] – резюме.

15. to benefit [´benɪfɪt] – приносить пользу, получать пользу, извлекать

выгоду.

16. networking [netwə:kıŋ] – сетевой поиск.

17. to respond [rɪs´pɔnd] – отвечать, реагировать, отзываться (на что-либо).

18. a request [rɪˈkwest] – просьба.

19. a job opening [´dʒɔb ´ɔupenɪŋ] – вакансия.

20. to refer [rɪˈfə:] – отсылать к кому-либо, направлять.

21. to fit in [fɪt] – соответствовать, подходить.

22. a report [rɪˈpɔ:t] – отчет.

23. a brochure [´brəuʃ(u)ə] – брошюра.

24. an applicant [´æplɪkənt] – претендент, заявитель.

25. an application form [ֽæplı´keıʃn ´fɔ:m] – анкета.

26. a curriculum vitae (CV) [kə´rɪkjuləm ´vaiti:] – краткое жизнеописание,

биография.

27. a marital status [´mærɪtl ´steɪtəs] – семейное положение.

28. background [´bækgraund] – сведения, данные.

29. an employer [ɪm´plɔɪə] – работодатель, наниматель.

30. consideration [kən´sɪdə´reɪʃən] – внимание.

31. to improve [ɪm´pru:v] – улучшать, совершенствовать.

32. to promote [prə´məut] – способствовать.

33. acceptance [ək´septəns] – принятие, прием.

34. imaginative [ɪˈmædʒɪnətɪv] – обладающий творческим воображением.

35. flexible [´fleksəbl] – гибкий.

36. to mind [maɪnd] – возражать.

37. wage [weɪdʒ] – заработная плата рабочих.

38. an unemployed [ֽʌnım´plɔıd] – безработный.

39. a graduate [´grædjuıt] – выпускник высшего учебного заведения.

40. income tax [´ınkәm ´tæks] – подоходный налог.

41. to retire [rɪˈtaɪə] – уходить в отставку, на пенсию.

Exercise I. Read the following international words and guess their meaning. Mind the stress.

ֽSatis´faction, ac´tivity, e´ffective, ´positive, ´candidate, ca´reer, po´sition, ´pyramid, pri´ority, ´interview, ´brochure, fa´miliar, re´lax, ´perfect, ´resume, pro´fessional.

Exercise II. Memorize the following pairs of derivatives.