- •Анотація
- •Робоча програма іноземної мови за професійним спрямуванням для спеціальності „Економіка і підприємництво"
- •II курс
- •Term IV
- •1. Answer the questions:
- •2. The phrases below will help you to read and to translate the text “Inflation”:
- •3. Read and translate the text “Inflation”:
- •4. Answer the following questions:
- •5. Suggest the Ukrainian equivalents.
- •6. Match the terms with their definitions:
- •7. Replace the parts in italics by synonyms.
- •8. Test yourself. "Economic Indicators." Mark the following sentences as True or False. If they are false, explain why.
- •10. Make a short summary about types of inflation from the above text.
- •1. Answer the following questions:
- •2. Memorize the following words and phrases:
- •3. Read the text and answer the questions after it: finance and financial system
- •4. Answer the following questions:
- •5. Match the verbs from a with the nouns from в below:
- •6. Who's Who in Finance? Match each job title on the left with the correct definition on the right (a-j)
- •7. The World's Major Financial Centre. Supply the text with the articles where necessary. Write down 3-5 questions about the text.
- •8. Choose the best word to complete the text. Reread the text and say what you know about the budget process in Ukraine.
- •9. Give extensive answers to these discussion questions:
- •10. In order to get prepared for participation in the class discussion of these questions, write several paragraphs on the following:
- •1. Answer the following questions:
- •2. Train the following words and phrases before you read the text “Financial Institutions”
- •3. Read and translate the text: financial institutions
- •4. Answer the following questions:
- •5. What's What in Finance? Match each word on the left with the correct definition on the right (a-o)
- •6. Finance I. Choose the best alternative from the box below to complete the sentences.
- •7. Finance II. Choose from the words in the box to complete the definitions.
- •8. Finance III. Match the number of each speech (1-10) with the correct description (a—j).
- •9. Costs. Match the terms and definitions.
- •10. Takeovers and Merges. Match the terms and definitions.
- •11. Write a short summary of the text "Financial Institutions".
- •1. Answer the questions:
- •2. Train the following words and phrases before you read the text “Money Market”
- •3. Read and translate the text: the money market
- •8. Find in the text English equivalents for the following.
- •9. Translate into English.
- •11. Markets. Choose correct term to match the definitions below.
- •12. Choose the correct answer.
- •13. Write a short summary about money markets.
- •1. Discuss in what way politics can affect market fluctuations in your country
- •2. Train the following words and phrases before you read the text “Exchanges”
- •3. Read and translate the text exchanges
- •4. Answer the following questions:
- •5. How would you explain the following jobs to a six-year-old child?
- •6. Find pairs of opposites in the list.
- •7. Match the words in the box with the correct definitions.
- •8. Choose the best alternative to complete the text.
- •3. Read and translate the text:
- •Extra facts
- •4. Answer the following questions:
- •5. “Rates” Translate the following:
- •6. Choose the words and word combinations on the right which have the same meaning as the ones on the left.
- •7. Words you may need
- •The London Stock Exchange.
- •Open the brackets putting the verbs in the correct form.
- •Describe the changes on the London Stock Exchange brought about by Big Bang.
- •8. Using the words in brackets as a guide, explain the meaning of the following terms:
- •9. Match expressions listed in column a with the synonymous ones from column b.
- •Перелік навчально-методичної літератури
Term IV
_____________________________________Unit 8_________________________________
1. Answer the questions:
Why are there periods when a country's economy works more strongly than others?
What do you know about inflation?
2. The phrases below will help you to read and to translate the text “Inflation”:
persistent rise - постійне піднесення
demand-pull inflation - інфляція попиту
with no corresponding rise in output – без відповідного піднесення виробництва
cost-push inflation - інфляція витрат
expectational or anticipated inflation - очікувана інфляція
consequences – наслідки
creeping or mild inflation - повзуча, або м'яка інфляція
to outstrip - переганяти, випереджувати
owing to trade union militancy - завдяки войовничості профспілок
may pose few difficulties – особливих проблем не становить
in order to improve their profit margins - для збільшення розмірів прибутку
galloping or hyper-inflation - галопуюча, або гіпер-інфляція
to stretch - натягувати, напружувати
entails enormously high rates of inflation – означає (веде до) величезного зростання інфляції
argue - тут доводити, стверджувати
Retail Prices Index (RPI) - індекс роздрібних цін
regardless - не зважаючи
insurmountable - колосальні, численні
3. Read and translate the text “Inflation”:
Inflation is generally defined as a persistent rise in the general price level with no corresponding rise in output, which leads to a corresponding fall in the purchasing power of money. It leads to a redistribution of income and wealth, often hurting sections of society with little economic power (e.g. pensioners); affects balance of payments because exports become relatively expensive and therefore less competitive as imports become relatively cheaper. Other consequences of inflation are uncertainty about the value of money or the real meaning of prices and resource costs of frequently changing prices.
Inflation occurs in many countries but at different rates; it varies considerably in its extent and severity. There are different rates of inflation: from gentle creeping (mild) inflation (perhaps 5% per annum), which may pose few difficulties to business, to galloping or hyper-inflation (say, 100% +), which entails enormously high rates of inflation and create almost insurmountable problems for the government, business, consumers and workers.
Demand-pull inflation occurs when demand for the nation's goods and services outstrips that nation's ability to supply these goods and services. This causes prices to rise generally as a means of limiting demand to the available supply.
An alternative way that we can look at this type of inflation is to say that it occurs when injections exceed withdrawals and the economy is already stretched (i. e. little available labour or factory space) and there is little scope to increase further its level of activity.
Cost-push inflation. Alternatively, inflation can be of the cost-push variety. This takes place when firms face increasing costs. This could be caused by an increase in wages owing to trade union militancy, the rising costs of imported raw materials and components or companies pushing up prices in order to improve their profit margins.
A further problem is that once the rate of inflation has begun to increase, a serious danger of expectational inflation will occur. This means that there will arise a generally held view of what inflation is likely to be, regardless of whether the factors that have caused inflation are still there or not. To protect future income, wages and prices will be raised now by the expected amount of future inflation.
The monetarists argue that inflation is caused by increase in the supply of money.
We can establish how much inflation there is in our economy by measuring it. The most common way of doing this is by using the Retail Prices Index (RPI). A collection of goods and services is decided upon. These are then priced in the base year and each month they are priced again. If, on average, they have increased by 12% after twelve months then there is an annual rate of inflation of 12%. There are also other indicators of inflation in the economy. Wholesale prices can be measured, house prices, prices of industrial output at the factory gate, import prices and the level of retail sales.