- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Find the pairs of synonyms and antonyms.
- •15. Find the definitions to the next terms:
- •16. Divide the text into logical group and give them titles.
- •17. Single out the main points of the text. Use the following opening phrases.
- •18. Prepare a short talk on the following:
- •Grammar Exercises
- •1. Name the number of the sentences where the word most has the meaning a) «більшість, більша частина», в) « вельми, вкрай» ( весьма, крайне).
- •2. Change the word order in the sentences using the Subjective Infinitive Complex.
- •Unit 13
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •International monetary system
- •International monetary institutions
- •Exercises
- •1. Answer the questions:
- •2. Find English equivalents for the following Ukrainian phrases.
- •3. Find the pairs of synonyms and antonyms.
- •11. Write down the Ukrainian equivalents.
- •12. Find and read sentences explaining the title of the text.
- •13. Find in the text sentences expressing such ideas.
- •15. Divide the text into logical group and give them titles.
- •16. Single out the main points of the text. Use the following opening phrases.
- •Grammar Exercises
- •1. A) Supply the articles where necessary.
- •2. Prepare the short talk on the following:
- •Unit 14
- •1. Read sentences only with new lexis.
- •2. Put the missing letters.
- •3. Work in pairs.
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of the verbs that are commonly used with:
- •9. Find and read sentences explaining the title of the text.
- •10. Find in the text sentences expressing such ideas.
- •12. Find the definitions to the next terms: short-term securities, long-term securities, bond, domestic bond market, foreign bond market, money market, capital market.
- •13. Divide the text into logical group and give them titles.
- •14. Single out the main points of the text. Use the following opening phrases.
- •Unit 15
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •Exercises
- •1. Answer these questions:
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of word combination with:
- •8. Complete the sentences with the following words: stock exchange, over-the-country market,”over-the-counter”, securities market, equities, preferred stocks.
- •9. Write down the Ukrainian equivalents:
- •10. Find in the text sentences expressing such ideas.
- •12. Find and read sentences explaining the title of the text.
- •13. Divide the text into logical group and give them titles.
- •14. Single out the main points of the text. Use the following opening phrases.
- •15. Read the text and be ready to explain how to invest money in right place.
- •15. Name the number of the sentences where we have to use Russian words «по-видимому» and «оказалось».
- •16. Prepare a short talk using the Russian words «по-видимому» and «оказалось» on the following:
- •Unit 16
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •Investments
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of the verbs that are commonly used with:
- •10. Complete the sentences with the following words: investment, real investment, foreign direct investment, foreign indirect investment, individual investors, institutional investors.
- •11. Write down the Ukrainian equivalents:
- •12. Find and read sentences explaining the title of the text.
- •13. Find in the text sentences expressing such ideas.
- •16. Divide the text into logical group and give them titles.
- •Grammar Exercises
- •Investment Companies
- •Unit 17
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •3. Work in pairs. One student has to name all the words sh/he memorised from the word list another student has to translate them.
- •Exercises
- •1. Answer these questions:
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of the verbs that are commonly used with:
- •9. Complete the sentences with the following words: currency, monies, rate of exchange (2), interbank market, the spot market (2), the forward or future markets, options, swap.
- •10. Write down the Ukrainian equivalents:
- •11. Find and read sentences explaining the title of the text.
- •12. Find in the text sentences expressing such ideas.
- •14. Find the definitions to the next terms: currency, spot market, foreign exchange rate, future or forward market, swap, option.
- •Unit 18 (Part I)
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of the verbs that are commonly used with:
- •11. Find and read sentences explaining the title of the text.
- •12. Find in the text sentences expressing such ideas.
- •15. Divide the text into logical group and give them titles.
- •16. Single out the main points of the text. Use the following opening phrases.
- •Grammar Exercises
- •17. Prepare a short talk on the following:
- •Unit 18 ( Part II)
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Match the antonyms.
- •4. Underline the negative prefixes in the following words:
- •5. Make up sentences putting the words in the correct order.
- •7. Find and read sentences explaining the title of the text.
- •8. Find in the texts sentences expressing such ideas.
- •10. Divide the text into logical group and give them titles.
- •11. Single out the main points of the text. Use the following opening phrases.
- •12. Read two texts about manager’s work and be ready to discuss it.
- •13. Prepare a short talk on the following.
- •Unit 19
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of the English synonyms to these Ukrainian verbs: относить (на), отражать (в учете), учитывать.
- •9. Find and read sentences explaining the title of the text.
- •10. Find in the text sentences expressing such ideas.
- •12. Find the definitions to the next terms: accounting system, book-keeping, accounting, liabilities, balance sheet.
- •13. Divide the text into logical group and give them titles.
- •14. Single out the main points of the text. Use the following opening phrases.
- •15. A) Read the text and say which information is new for you.
- •Grammar Exercises
- •1. Open the brackets using the verbs in appropriate form.
- •2. Open the brackets using the verbs in appropriate form.
- •16. Prepare a short talk on the following:
- •Unit 20
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Find in the text nouns that are most often used with the following verbs and adjectives:
- •4. Think of the word combinations with these words and words from the text.
- •5. Make up sentences from two parts
- •7. Find and read sentences explaining the title of the text.
- •10. Divide the text into logical group and give them titles.
- •11. Single out the main points of the text. Use the following opening phrases.
- •2. Open the brackets putting the verbs in the correct form:
- •3. Using texts 1 and 2 answer the questions:
- •4. Prepare for a short talk:
- •Unit 21
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of the nouns that are most often used with the following verbs:
- •4. Think of the verbs that are most often used with:
- •5. Match the verbs from (a) with the nouns from (b) below:
- •6. Make up sentences from two parts.
- •7. Complete the sentences with the following words: auditing, types of audits, accounts audits, management, auditors, auditor’s report, “audit risk”, the audit strategy.
- •8. Find and read sentences explaining the title of the text.
- •9. Find in the text sentences expressing such ideas.
- •11. Find the definitions to the next terms: audit, auditor, “audit risk”, auditor’s report.
- •12. Divide the text into logical group and give them titles.
- •13. Single out the main points of the text. Use the following opening phrases.
- •14. Read the text.
- •15. Supply the prepositions where necessary.
- •16. Prepare a short talk on the following:
- •Література
Unit 17
foreign exchange market валютний ринок
legal tender законний платіжний засіб
monies грошові суми
rate of exchange курс обміну
unit of currency грошова одиниця
currency mix структура грошової маси
spot market ринок готівки
forward market форвардний ринок
futures market ф’ючерський ринок
currency options market ринок валютних опціонів1
bid – ask spread різниця між цінами продавця та покупця
currency arbitrage валютний арбітраж
clearing порівняння деталей фінансової угоди перед розрахунком
Option (опціон1) право вибору; право купівлі та продажу цінних паперів за обумовлену ціну в обумовлений термін
1. Read sentences only with new lexis and translate them.
The rate exchange is the value of one unit of the foreign currency expressed in the other currency concerned.
The Market performs two major functions.
Somewhat more than half of all transactions are spot deals.
The cost of transacting in the wholesale market is reflected in the bid-ask (or bid-offer) spread.
The exchange market is global in character.
The operation is called currency arbitrage.
Trading in the Market occurs 24 hours a day in various centers around the world.
Currencies can be bought or sold in the Foreign Exchange Market.
2. Put the missing letters.
cl..ring, sp..t m..rket, c..rrency arb..tr..ge, futu…s m..rket, l..g..l t..nd..r, m..n..s, r,,te of exc….nge, f..ward ma…k..t, c…r….ncy m..x.
3. Work in pairs. One student has to name all the words sh/he memorised from the word list another student has to translate them.
Read the text.
FOREIGN EXCHANGE MARKET. GLOBAL FINANCIAL MARKETS
TRADING IN THE FOREIGN EXCHANGE MARKET
Any one country's currency is a legal tender only within its national boundaries. To trade beyond these boundaries involves exchange of monies. Exchange of currencies is possible if national currencies are interchangeable. The terms on which one currency will exchange against another are referred to as rate of exchange. The rate exchange is the value of one unit of the foreign currency expressed in the other currency concerned.
Currencies can be bought or sold in the Foreign Exchange Market. The Foreign Exchange Market is the oldest financial market in existence. It is also the largest international financial market in the world.
The Market performs two major functions: it facilitates the foreign exchange needs of exporters and importers, and it enables individuals, corporations and governments to obtain a desired currency mix of their portfolios.
Trading in the Market occurs 24 hours a day in various centers around the world. Deals are concluded bilaterally over telecommunications networks by different counterparties, some of whom serve as market makers or dealers.
The exchange market is global in character, it does not have one centralized location; trading is heavily concentrated in a handful of centers: London, New York, Tokyo, etc. The great majority of foreign exchange trading takes place in the interbank market1 between traders or market makers who represent large commercial banks or other financial institutions.
Foreign exchange departments of large commercial banks are linked across the world through a sophisticated network of communication systems. The market consists of three major sectors: the spot market, the forward and futures markets and the currency options market.
Somewhat more than half of all transactions are spot deals. In other words, they are transactions which call for2 the delivery of the two currencies exchanged within two business days. The remainder3 of the deals can be classified as outright4 forwards, swaps5, futures and options.
Such transactions are performed by customers who do not know when they will need foreign currency to overcome the growing exposure to currency risks in the conditions of foreign exchange rate volatility6.
The cost of transacting in the wholesale market is reflected in the bid-ask (or bid-offer) spread. Prices in the market depend on the volume of transactions, exchange rate volatility, the availability of relevant information and the strength of competition in the Market.
As prices are different in different markets, professional dealers take advantage of it buying, say, US dollars for Yen in Singapore and selling them in London for sterling and then back into Yen in New York - all for a profit. The operation is called currency arbitrage.
The delivery of the individual currencies involved in a foreign exchange transaction typically takes place through the payment systems of the two countries whose currencies are traded.
The reliance on the domestic currency payment system of individual countries for the clearing and settlement of foreign exchange transactions means that the stability and integrity of the global foreign exchange market depends on both the soundness of the individual counterparties and the robustness7 of national payment systems.
Words:
the interbank market1 міжбанківський ринок
call for2 вимагати, передбачати
remainder3 частина, яка залишилася
outright4 звичайний
swap5 своп (обмін одних цінних паперів на інші)
volatility6 мінливість
the robustness7 міцність