Brainstorming. In Part 1 we are going to brainstorm, discuss ideas at a round table and hold a panel discussion

1.1.

In Part 1 we are going to brainstorm, discuss ideas at a round table and hold a panel discussion.

Brainstorming. Round Table and Panel Discussions

Text Vocabulary

barter	бартер, меновая торговля; товарообмен	We can therefore conclude that in these societies a different system of exchange or barter was used for basic daily transactions.
commodity	товар, преимущественно сырьевой или биржевой	Although most types of commodity money have an intrinsic value, i.e. alternative use(s) to acting as money, all apart from precious metals have disadvantages.
unit of account	счетная единица	A unit of account is a standard monetary unit of measurement of the market value/cost of goods, services, or assets.
deferred payment	средство накопления	This is distinct from the standard of deferred payment function.
store of value	мера стоимости	To act as a store of value, a commodity, a form of money, or financial capital must be able to be reliably saved, stored, and retrieved.
medium of exchange	средство обращения	A medium of exchange is an intermediary used in trade to avoid the inconveniences of a pure barter system.

VOCABULARY OF THE MODULE

asset portfolio

assets

barter

bill

bond

borrower

brokerage house

building society

buttonwood tree

buy order

central bank

certificate of deposit

clearing system

commodity

corporate finance

credit risk

deferred payment

discount market

external financing

foreign exchange market

funds

gilt-edged

insolvent

interest-bearing

intermediary

internal financing

intervene

IOU

issue

issue department

legal tender

lender

lender of last resort

liquidity

list a company

loan

marketability

medium of exchange

merchant bank

Nasdaq

New York Stock Exchange, the

non-redeemable

over-the-counter

paper asset

plant and equipment

primary market

quote

redemption

repay

retail bank

savings

secondary market

share

shareholder

stock exchange

stockbroker

store of value

supervision

transaction

Treasury

unit of account

work in progress

working capital

yield

— SPEAKING SKILLS SECTION

Brainstorming is a way of gathering ideas about a topic. When people brainstorm them give their ideas freely without editing or evaluation. Criticism is not allowed. All the ideas should be put down whether they are brilliant or silly, relevant or common. The aim is to get as many ideas as possible.

There are three major types of brainstorming. They are: making a list, freewriting, and mapping. Brainstorming is, first of all, a speaking skill, but it involves writing as well to fix the results.

— 1.2. Brainstorm ideas connected with advantages and disadvantages of major economic systems.

1.3. Brainstorm concepts and symbols of the command economy.

1.4. Brainstorm ideas on the role of banks in economy.

To brainstorm more efficiently, one may use the following prompts: DEFINE THE PROBLEM or RE-DEFINE IT 1. What is the problem? 2. Why is it indeed a problem? 3. For whom is it a problem? 4. When did it first become a problem? 5. What is the root of the problem?   ASK QUESTIONS 1. What caused X? (replace X with your topic) 2. What can X be compared to? 3. Ask your own questions.   EXPLORE THE EVIDENCE 1. Is this evidence strong? 2. What issues or flaws are associated with this evidence? 3. Why should I not believe this evidence?   IDENTIFY ASSUMPTIONS 1. What is being assumed in this X? 2. What do people take for granted to be true in X? 3. Are these assumptions false?   DO RESEARCH 1. What articles/essays are there about X on the Internet? 2. What insights do articles/books offer?

1.5. Discussion formats: round table and panel discussion

Ø What is the difference between panel discussions and round table meetings?

Ø Have you ever participated in any of the kind?

Ø How many people take part in both?

Panel Discussion is a discussion carried on by a selected group of speakers before an audience. A panel consists of a small group of six or eight persons, who carry on a guided and informal discussion before an audience as if the panel were meeting alone.

There must be a leader who coordinates and directs the discussion.

Round Table meetings are held when a topic is more focused, and where a rapid response is required. This is often indicated by the social or political context and the need for prompt policy guidance in the area.

They both are well-prepared and arranged group discussions. In both cases, there are a number of specific skills (speaking skills, leadership skills, and team work skills) that can help students become better able to contribute effectively to group discussions.

— Use the functional language in the box below in the following assignments.

1.6. Hold a round table discussion on types of economic systems.

1.7. Organize a round table discussion, comparing market economy and mixed economy.

1.8. Have a panel discussion of the financial system of Russia. Invite guests to act as your audience.

Giving an opinion Giving Strong Opinions Ø I firmly believe that … Ø I’m absolutely convinced that … Ø It’s my belief that … Ø There’s no doubt in my mind that … Ø It’s quite clear that … Ø It’s my considered opinion that … Giving Neutral Opinions Ø I think that … Ø In my opinion … Ø It’s my opinion that… Ø As I see it … Ø As far as I’m concerned … Ø From my point of view … Giving Tentative Opinions Ø It seems to me that … Ø I would say that … Ø As far as I’m able to judge … Ø I think it would be fair to say that … Disagreeing Strong Disagreement Ø I totally disagree with you. Ø I can’t agree at all. Ø You’re completely mistaken. Ø I disagree entirely. Ø Under no circumstances could I agree to that. Softening Neutral Disagreement Ø I’m afraid … Ø I’m sorry,... Ø With respect, … Ø I respect your opinion, of course, however … Neutral Disagreement Ø I don’t completely agree with you on that. Ø I really can’t agree with you on that. Ø I can’t say that I share your view. Ø We’ll have to agree to differ. Ø I’m not totally convinced by your argument. Ø I can’t accept your point of view. Ø I feel I must disagree. Tactful Disagreement Ø I agree up to a point, but … Ø To a certain extent I agree with you, but … Ø You have a point there, but … Ø I can see your point of view, but surely … Ø I have some sympathy with your position, but … Agreeing Strong Agreement Ø I completely agree. Ø I agree entirely with your point of view. Ø I’m of exactly the same opinion. Ø I am in total agreement. Ø I cannot agree more. Neutral Agreement Ø I agree. Ø I think we are in agreement on that. Ø I think you’re right. Ø I think we can accept your position on that. Partial Agreement Ø I would tend to agree with you on that. Ø I agree with you on the whole, but it could be said that… Ø I agree in principle, but … Ø By and large I would accept your views, but …

@ WRITING SKILLS SECTION

The purpose of Writing Skills Section is to enhance your ability to write in standard written English. The writing tasks in the book are similar to those required of students in academic courses.

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