Ex.3. Interview your groupmate. Find out how careful he/she is with money

Ex.4. Familiarize yourself with the following idioms. Consult your dictionary and translate the sentences into Ukrainian. Think of situations where you could use them:

1. He is a whale at accounting.

2. We came to terms on the contract and signed it.

3. My partner is honest; you can set store by his promise.

4. The basic financial plan was approved, but the accountants met to iron out the wrinkles that remained.

5. For my money, this project will be very profitable.

Ex.5. How good or bad are you with money? Read the questionnaire and think about your answers.

1. When you get a present of money (e.g. for your birthday), how much of it do you save?

a) all of it

b) most of it

c) some of it

d) none of it

2. How many of the following things did you buy last month?

Jeans, a CD, a computer game, a T-shirt

a) none of them

b) some of them

c) most of them

d) all of them

3. When you go out with your friends, how much money do you take with you?

a) none

b) not very much

c) quite a lot

d) all the money I have

4. If you see two things in a shop you really like, do you buy?

a) neither of them

b) one of them

c) sometimes both of them

d) always both of them

5. Someone asks you to give something to a charity that you like, how much money do you give?

a) none

b) a little

c) quite a lot

d) all the money I’ve got with me

Results

Mainly “a” answers: You are completely moneywise. Congratulations!

Mainly “b” answers: You are pretty good with money. Keep trying!

Mainly “c” answers: You are a big spender. Take care!

Mainly “d” answers: You have a hole in your pocket.

Ex.6. Comment on the following:

“Money spent on the brain, is never spent in vain”

(Proverb)

Lesson 2

Text: Types of Banks

Grammar: Comparison of Adjectives

Terms to remember:

Types of Banks

A bank is an institution that deals in money and provides other financial services. Banks are at the heart of any financial system.

Banking is the business a bank is engaged in.

There exist different types of banks but their names may vary from one country to another.

Central banks such as the National Bank (Ukraine), the Bank of England (UK) or the Federal Reserve System (US) look after the government’s finance and monetary policy, act as bankers for the state and for commercial banks, manage a country's reserves of gold and foreign currencies, and are responsible for issuing banknotes.

Commercial banks deal directly with the public. They offer a wide range of services such as accepting deposits, making loans and managing customers’ accounts. The aim of commercial banks is to earn profit.

Merchant banks don’t deal with the public. They provide services for companies. They specialize in raising capital for industry, arranging flotations, takeovers and mergers, and investment portfolios.

Investment banks are firms that control the issue of new securities (shares and bonds).

Savings banks are financial institutions that specialize in providing services such as savings accounts as opposed to general banking services.

Exercises in Word Study

Ex.1. Form nouns from the following adjectives:

banking, financial, national, governmental, commercial, profitable, industrial, monetary.

Ex.2. Give the English for:

установа, яка має справу з грошима; надавати фінансові послуги; банківська справа; Національний банк України; піклуватися про монетарну політику; відповідати за емісію грошей; комерційний банк; приймати депозити; надавати позику; заробляти прибуток; торговельний банк; придбання контрольного пакета акцій; злиття (підприємств); інвестиційний банк; ощадний банк; ощадний рахунок.

Ex.3. Match words from list A with words from list B that have a similar meaning:

Ex.4 Find suitable opposites to the following words and phrases:

definite; to control; to lose profit; commercial banks; withdrawal.

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