Lesson 1. Unit 1. Money VS. Currency

UNIT 1. MONEY vs. CURRENCY

MONEY AND BANKING

Task 1. Study the etymology of the word “MONEY”.

Etymology:	MONEY
Perhaps from Latin monere (advise, warn), with the sense of “admobishing goddess,” which is “sensible”, but etymology is difficult →Latin monēta (coinage) –a title of the Roman goddess Juno, in or near whose temple money was coined;→ Old French moneie → late 13^th century English (coinage, metal currency) → extended in the early 19^th century to include paper money.

Task 2. Look at the following example sentences revealing the meaning of the word “MONEY”. Make up similar sentences.

1. For my money, you’re just about the only one who does something useful around here. – На мій погляд, ти єдина тут людина, яка займається чимось корисним.

2. For my money, you were the only actor in the play who was worth watching. – На мою думку, ти єдиний актор, якого варто було подивитися у цій п’єсі.

3. Now that we’ re in the money we can afford this journey. – Зараз, коли у нас є гроші, ми можемо поїхати у цю подорож.

4. We’ re in the money. – У нас знову завелася монета.

5. You must have money to burn. – У тебе, мабуть, повно грошей, раз ти їх так витрачаєш.

6. With all that money to burn he had no particular place to go to. – Хоча у нього були повні кишені грошей, йому не було особливо куди піти.

7. This is the only country in the world that can put its money where its mouth is. – Це єдина в світі країна, яка може підкріпити свої слова ділом.

8. If this is such a good stock, you buy it. Put your money where your mouth is! – Якщо це настільки надійні акції, то і купуй їх. А то ти лишень радиш, а сам цього не робиш!

9. These people are flush with money. – У них гроші кури не клюють.

10. Tom is always very flush with money or very hard up. – Том завжди або розкидається грішми, або на мілині.

11. Babysitting is money for old rope if the children don’t wake up. – Догляд за дітьми – це легкий хліб, якщо вони увесь час сплять.

12. Lend your money and lose your friend. – Хочеш втратити друга, позич йому гроші.

13. Clearly, she married (into) money. – Було очевидно, що вона вийшла заміж за розрахунком (“за гроші”).

14. Money answers all things. – З грішми можна досягнути всього. Гроші можуть усе зробити. (Ecclesiastes X, 19).

15. “Money draws money,” the proverb says. – Як говориться, гроші до грошей.

16. Money doesn’t grow on trees. – Гроші під ногами не валяються.

17. Money has no smell. – Гроші не пахнуть (pecunia non olet; слова, що приписують римському імператору Віспасіану, який встановив податок на громадські туалети).

18. Money is a good servant, but a bad master. – Людина повинна розпоряджатися грішми, а не гроші людиною.

19. Here, you know, “ money makes the man ”, as the vulgar proverb has it. – У нас “гроші роблять людину”, як говорить цинічне прислів’я.

20. Money spent on the brain is never spent in vain. – Гроші, потрачені на освіту, завжди окупаються.

21. Don’t become dependent on soft money. – Не думай, що гроші тобі будуть так легко діставатися.

22. “Your money or your life!..” said a rough voice. – “Гаманець або життя!..” – вимовив хтось грубим голосом.

23. When a person says it isn’t the money but the principle that counts – it’s the money. – Коли людина каже, що головне не гроші, а принципи, знай: справа все-таки в грошах.

Task 3. Singular or plural?

WHICH WORD?

MONEY vs. MONEYS / MONIES

· Money is what you can use to buy and sell things and earn through your work, investments, sales, etc.; coins or paper notes; a person’s wealth including their property; · Moneys / monies[`mAniz]– a pecuniary sum or income; sums of money.

Task4. Translate into Ukrainian taking into account the meanings of the word “MONEY”.

1. Гроші; фонди; фінанси; платіжний засіб; багатство; власність; національна валюта;

2. грошові суми;монетні системи, валюти;

1. He lost all his money. 2. I counted the money carefully. 3. How much money is there in my account? 4. Where can I change my money into dollars? 5. I make more money in this job than in the last one. 6. It’s a statement of all monies paid into your account. 7. I started my business because I wanted to make money. 8. Factory automation systems can save you time and money. 9. If the item is not satisfactory, you will get your money back. 10. Smaller companies have found it difficult to borrow money to invest in assets.

Task 5. a) Study the words meaning “MONEY”.

1. cash	– coins or notes that can be spent immediately: I don’t have any cash, I’ll have to pay with a card.
2. (small) change	– coins that are not of high value: Do you have any change for the phone?
3. currency	– the specific type of money used by a particular country: We don’t accept foreign currency, I’m afraid.
4. dosh[dO∫] / [dα:∫]	– (very informal) a slang word for money: Simon can pay, he’s got loads of dosh!
5. the readies[`rediz]	– (very informal) money that you can spend immediately such as banknotes or coins: Come on, hand over the readies!
6. means	– money that allows you to survive: I just don’t have the means to go on living in such a big house.
7. savings	– money that you have saved in order to spend it later: We spent half our savings on the lawyer’s fees.
8. legal tender[`li:g^əl `tendə]	– (formal) coins or notes that are officially accepted in a particular country: As of December 4^th, the £1 note will no longer be legal tender.
9. specie[`spi:∫i]	– coin money, as distinguished from bullion or paper money: Immobilization is removing specie from circulation and holding it as a reserve.

b) Which of the above words means:

· бабки (про гроші);

· готівка (гроші);

· гроші; готівка; розрахунок готівкою; каса, грошові засоби;

· грошовий обіг; валюта, гроші;

· грошові засоби; багатство, достатки, статок;

· дзвінка монета; гроші; металеві гроші (на противагу паперовим грошам);

· дрібні гроші;

· законний платіжний засіб; законний засіб платежу;

· заощадження?

Task 6. Translate into Ukrainian paying special attention to the words in italics.

1. I’ll give you the rest of money in cash. 2. Some of the supermarket checkouts only take cash. 3. Don’t forget you change! 4. The ticket machine gives change. 5. I had to change my euros into local currency. 6. A weaker currency would help our exports. 7. That would cost much dosh. 8. I have no dosh on me. 9. I need the readies by tomorrow. 10. They currently do not have the means to pay their bills. 11. Many consumers live beyond their means. 12. He used his savings to start up his own company. 13. The money for the flight came out of my savings. 14. These coins are no longer legal tender. 15. Paper money is paper currency issued by the government or the central bank as legal tender and which circulates as a substitute for specie. 16. In 1779 one paper dollar was worth only two or three cents in specie.

Task 7. Study the derivatives of the word “MONEY”.

b) Which of the above word-combinations means:

· the right to coin;

· (humorous) a rich person;

· a piggy bank;

· someone whose job is to exchange money of one country for money of another country;

· a person extremely interested in getting money;

· a person or organization that lends money to people, especially at a high rate of interest?

Task 8. Think and answer.

1. Why do many people keep their money in piggybanks instead of depositing it to a bank account? When do people tend to keep their money in piggybanks?

2. What can make a person a moneygrubber? Do all moneygrubbers become moneybags? Would you like to be a moneybags? Why?

3. How do functions of moneychangers differ from those of moneylenders?

4. Who can act as a moneychanger? Where do moneychangers transact their business?

5. Do all banks have moneyage?

Task9.a) Match the underlined phrases in column A with their interpretation in column B.

A	B
1.She spends money like water. 2.Hold on – I’ m not made of money, you know. 3.This is money for old rope. 4.I want the best car you’ve got. Money is no object. 5.He is in the money and throws his money around.	a) BrE informal money that you earn very easily without much work or effort; b)I have a lot of money and can buy what I want; c)suddenly has got a lot of money, (e.g. has won it or has been given it); d)spends a lot of money on things he does not need; e) spoken don’t have large amounts of money; f) informal spends too much money in a careless way;

b) Translate into English.

1. Транжирити гроші; розкидатися, смітити грішми; 2. багатющий; 3. дармові гроші; 4. гроші – не проблема; за ціною не постоїмо; 5. бути багатим; мати гроші.

c) Think and answer.

1. Have you ever earned money for old rope?

2. Why do some people throw their money around?

3. Are you not made of money?

4. Have you ever been in the money?

5. Do all people in the money tend to spend money like water? Why?

d) Learn more about the origins of some words and phrases.

1. To make money “earn pay” is first attested in the middle 15^th century.

2. Highwayman’s threat “your money or your life” was first attested in 1841.

3. Phrase “in the money” (1902) originally meant “one who finishes among the prize-winners” (in a horse race, etc.).

4. The challenge to put (one’s) money where (onene’s) mouth is is first recorded in 1942.

5. Moneybags – “rich person” is from 1818; money-grubber – “one who is sordidly intent on amassing money” is from 1768.

Task 10. a) Study the word usage.

· You can make or earnmoney, a living or a fortune. · Earnemphasizes the work you have to do to get the money. · If the money comes as interest or profit, and the subject is a person use make: She earned a fortune on the stock market. · If the subject is a business or factory, use either word: The plant will make / earn £950 million for the UK. · If the subject is the money itself use earn: Your money would earn (make) more in a high-interest account.

Task 11. Practice reading the following words.

1. to accept [ək`sept] 2. allowance[ə`la u ən^ts] 3. array[ə`reı] 4. available[ə`veıləb^əl] 5. bead[bi:d] 6. bullet[`bulıt] 7. cigarette[ֽsıgə`ret] / [`sıgəret] 8. colonist[`kOlənıst] / [`kα:lənıst] 9. confusion[kən`fju:ჳ^ən] 10. cowries[`kau^əriz] 11. dishonesty[(ֽ)dıs`Onısti] / [(ֽ)dıs`α:nısti] 12. to distinguish[dı`stıŋgwı∫] 13. dynasty[`dınəsti] / [`daınəsti] 14. earth[ə:θ] 15. Ethiopia[ֽi:θi`əupiə] 16. evil[`i:v^əl] 17. extensively[ık`sten^tsıvli] 18. fashion[`fæ∫^ən] 19. fiat[`fi:æt] 20. Fiji[`fi:Gi:] 21. hearth[hα:θ] / [hα:rθ] 22. honoured[`Onəd] / [`α:n^ərəd]

23. ideal[(ֽ)aı`dıəl] / [(ֽ)aı`di: ə l] 24. intrinsic[ın`trın^tsık] 25. island[`aılənd] 26. liquor[`lıkə] / [`lık^ər] 27. lure[ljuə] 58% / [lu^ər] 42% 28. moral[`mOr ə l] / [`mO:r ə l] 29. object[`ObGekt] / [`α:bGekt] 30. Pacific[pə`sıfık] 31. platinum[`plætınəm] / [`plæt^ənəm] 32. salarium[sal`arium] 33. salt[sO:lt] 34. to seduce[sı`dju:s] / [sı`du:s] 35. Sophocles[`sOfəkli:z] / [`sα:fəkli:z] 36. sure[∫O:] / [∫u^ər] 37. Tibet[tı`bet] 38. tobacco[tə`bækəu] 39. wampum[`wOmpəm] / [`wα:mpəm] 40. to warp[wO:p] / [wO:rp] 41. whale[weı^əl] / [ h weı^əl] 42. wheel [wi:^əl] / [ h wi:^əl] 43. worthless[`wə:θləs] 44. Yap[jæp]

Task 12. Read the text.

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