Key Vocabulary. This module deals with the components of the financial system and the activities of financial institutions as well as money matters

LEAD-IN

This module deals with the components of the financial system and the activities of financial institutions as well as money matters.

MODULE 2. Money and Finance

Text Vocabulary

to vest power	наделять властью	The mass media have been vested with significant power as social and political agents in modern developed societies.
unchecked	неконтролируемый	The provision gives the president total and unchecked power.

VOCABULARY OF THE MODULE

administration of justice

after-sale service

allocate

antitrust

bankruptcy

competitor

demise

dramatically

economic system

economies of scale

enterprise

entrepreneur

erect barrier (to)

foreign direct investment

free market

goods

incentive

infant industry

intervene

long-term trend

low-cost loan

market economy

market force

mixed economy

natural disaster

natural monopoly

output

planned economy

priority

private ownership

product safety

production costs

profit margin

prosperous

public good

public ownership

R&D

rationale

stagnant

state subsidy

state-owned enterprise

subsistence

suffer losses

tax revenue

traditional economy

unchecked

unemployment benefit

vest power

welfare

The need for money in any society arises out of the process of exchange. Anything which is used to promote the exchange of goods and services is therefore thought of as money, and its existence eliminates the need to exchange goods directly for other goods through barter. Today we use notes, coins and cheques to buy goods and to settle debts.

Ø What can serve as money?

Ø What does any financial system include?

Ø What kind of activities is any central bank involved in?

Ø What is a stock exchange? What does it trade in? Have a brainstorm.

  borrower lender merchant bank intermediary stock exchange credit risk central bank corporate finance funds  

Ø Look through the words in the Key Vocabulary Section. Translate the sentences given in the right column.

borrower	заемщик	The lenders of money have an obligation to lend prudently and if they do not check the creditworthiness of the borrower.
lender	кредитор	Halifax was the lead lender on the project with total exposure of £26m.
merchant bank	коммерческий банк (особ. в Великобритании)	The case centres around a Mr X, accused with several others of setting up a bogus merchant bank used to conduct fraudulent transactions.
central bank	центральный банк	The Central Bank has frozen all remittances of profits, dividends and interest.
intermediary	посредник	Before the war, the most common intermediary between a potential employee and an employer was the employment agency.
funds	средства	Since we came into office, we have increased the funds available to the research councils.
credit risk	кредитный риск	The new scheme will assess the credit risk of new borrowers.
corporate finance	корпоративные финансы	Corporate finance that looked right under the old rules can look drastically wrong if the rules change.
stock exchange	фондовая биржа	Last month Shanghai even launched a computerised stock exchange.

Дата добавления: 2014-12-27