Деньги - Money: Учебное пособие по развитию навыков профессионального общения

Федеральное агентство по образованию Омский государственный университет им. Ф.М. Достоевского

УДК 20+336.74 ББК 81.2Англ.я73+65.011.3я73 Д341 Рекомендовано к изданию редакционно-издательским советом ОмГУ Рецензенты: Ж.В. Лихачева, канд. пед. наук, ст. преп. кафедры иностранных языков ОмГУ; О.К. Сургутская, ст. преп. кафедры иностранных языков ОмГУ

Д341

ДЕНЬГИ

Деньги=Money: учебное пособие по развитию навыков профессионального общения / сост.: С.Б. Невежина, С.Д. Оськина. – Омск: Изд-во ОмГУ, 2006. – 150 с. ISBN 5-7779-0671-0 Состоит из трех частей. Первая часть раскрывает общие, бытовые вопросы по теме и призвана развить коммуникативные навыки учащихся. Во второй части представлен экономический аспект денег: рассматривая функции, характеристики и виды денег, студенты работают со специальными текстами, развивая навыки перевода и реферирования. Третья часть посвящена работе с лексикой. Пособие адресовано студентам и аспирантам экономических специальностей. Может быть интересным для преподавателей английского языка.

MONEY Учебное пособие по развитию навыков профессионального общения

УДК 20+336.74 ББК 81.2Англ.я73+65.011.3я73

Изд-во ОмГУ

Омск 2006

ISBN 5-7779-0671-0

© Омский госуниверситет, 2006 2

CONTENTS ПРЕДИСЛОВИЕ.......................................................................................... 4 Part I. MONEY, MONEY, MONEY Money Talks ....................................................................................... 6 People and Their Money ................................................................... 11 Making and Spending Money ........................................................... 18 Making money ............................................................................. 18 Winning the lottery ...................................................................... 25 Spending money........................................................................... 30 Budgeting..................................................................................... 32 Charity......................................................................................... 35 SUPPLEMENTARY TASKS........................................................................ 41 Block 1. Money Talks ....................................................................... 41 Block 2. People and Their Money (1) ............................................... 50 Block 3. People and Their Money (2) ............................................... 52 Block 4. Winning the lottery............................................................. 54 Block 5. Charity ................................................................................ 61 Part II. MONEY THROUGH ECONOMICS Money and its qualities ..................................................................... 68 Money and its functions .................................................................... 74 Money in the USA ............................................................................ 85 Paying: cash/credit cards/euro........................................................... 87 Money laundering ............................................................................. 97 SUPPLEMENTARY TASKS...................................................................... 101 Block 6. History of money .............................................................. 101 Block 7. Money: topic expansion.................................................... 103 Block 8. The role of money............................................................. 108 Block 9. Money laundering............................................................. 114 Part III. MONEY: LEXICAL TESTS Money ............................................................................................. 117 Money and shopping....................................................................... 122 Business and money........................................................................ 125 SUPPLEMENTARY TASKS...................................................................... 130 FILES ......................................................................................................... 138 MONEY SONGS ....................................................................................... 144 LIST OF MONEY WORDS AND EXPRESSIONS............................... 146 REFERENCE LIST .................................................................................. 148

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ПРЕДИСЛОВИЕ Целью данного учебного пособия является развитие навыков устной речи и перевода при изучении английского языка студентами и аспирантами экономических специальностей. Учебное пособие состоит из трех основных частей. Первая часть посвящена общим, бытовым вопросам по теме и направлена преимущественно на развитие навыков разговорной речи при помощи заданий творческого и дискуссионного плана. Во второй части представлен экономический аспект денег: рассматривая функции, характеристики и виды денег, студенты работают со специальными текстами, которые развивают навыки перевода и реферирования. В связи с этим акцент сделан на сложных грамматических явлениях (инфинитивные обороты, причастия), часто встречающихся в текстах по специальности. Третья часть предназначена для работы с лексикой: в ней широко представлены задания, тесты и тексты на подстановку и замену слов и т. д. Таким образом, отличие данного пособия от имеющихся в его комплексном подходе к теме «Деньги». В нем предпринята попытка дополнить работу с узкоспециальными текстами многочисленными заданиями коммуникативного характера. В конце каждой части учебного пособия приведен дополнительный материал (Supplementary tasks), поделенный на блоки, соответствующие отдельным подтемам основного материала. Следовательно, предполагается не пошаговое прохождение всех тем пособия, а выбор преподавателем отдельных подтем в соответствии с уровнем подготовки и интересами студентов, а также требованиями программы обучения. Разнообразие материала призвано стимулировать творческую активность преподавателя и студентов. 4

Помимо трех основных частей, имеются Files (файлы), помогающие эффективнее организовать групповую работу и работу в парах, список некоторых слов и выражений по теме, песни на английском языке. Ссылочный аппарат оформлен порядковыми номерами в виде арабских цифр, набранных на верхнюю линию, а библиографический список использованной литературы размещен в конце пособия. Также имеются подстрочные примечания (*), которые отсылают преподавателя и студентов к соответствующим блокам дополнительных заданий по той или иной теме. Пособие рекомендовано студентам и аспирантам экономических специальностей при изучении темы «Деньги», знание которой позднее поможет при работе с темами «Банки», «Инфляция», «Налоги», «Биржи», а также может быть интересным и полезным для преподавателей английского языка

Part I. MONEY, MONEY, MONEY MONEY TALKS∗ 1. T 1 Listen to the song. 2. Answer the questions:

Have you ever heard the song? What do you know about it? – the film it's taken from – the singers – the authors What do you feel about the song? What is it about? 3. Read the lyrics (File 1)

A. What is 'a buck'? What is the same for a pound? A mark, a yen, a buck, a pound – what are they in one or two words? What countries do they refer to? What refers to your country? B. What does 'to take things on the chin' mean? Make up your own sentences with the expression. What is Russian for 'money makes the world go round'? C. What is reality for the singers (M.C. and Sally)? Are they rich or poor? What are the situations given? If you are rich what troubles can you face? How can you deal with them? If you are poor what problems can you face? What conclusion is going to be made? Do you agree that 'Money makes the world go round'? What do you think makes the world go round? Why? Support your idea. TOPIC EXPANSION A. 1. Read the poem and explain what idea on money significance the author wanted to present. ∗

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For further expansion see SUPPLEMENTARY TASKS: Block 1 (p. 27).

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MONEY... It can buy you a House, but not a Home, It can buy you a Bed, but not Sleep, It can buy you a Clock, but not Time, It can buy you a Book, but not Knowledge, It can buy you a Position, but not Respect, It can buy you Medicine, but not Health, It can buy you Blood, but not Life, It can buy you Sex, but not Love, So you see, money isn't everything. The best things in life can't be bought, and often we destroy ourselves trying! I tell you all this because I am your Friend, And as your Friend I want to take away your needless pain and suffering... So send me all your money and I will suffer for you. A truer Friend than me you will never find. Cash only, please…

Do not value money for any more nor any less than its worth; it is a good servant but a bad master. (Alexandre Dumas fils, Camille, 1852) WRITING Look through the list of sayings (File 2). Choose one you like the best or the one that relates to your experience. Make up a composition (the plan in File 3 may be helpful). READING Before reading discuss with the class:

How important is money to you personally? Do you see money as fundamentally good or evil?

NO NEED TO APOLOGISE FOR BMWs OR BLONDES1 Mary Ellen Synon

When it is a question of money, everybody is of the same religion. (Voltaire) People's wealth and worth are very rarely related. (Malcolm Forbes (1919–1990)) There are people who have money and people who are rich. (Coco Chanel) We live by the Golden Rule. Those who have the gold make the rules. (Buzzie Bavasi) Wealth is the product of man's ability to think. (Ayn Rand (1905–1982)) A penny saved is a penny earned. (Benjamin Franklin)

Making money solves most problems, and in Ireland today, plenty of men are making plenty of money. The only reasonable response is a cry of 'Well done.' Yet instead we are hearing complaints that too many Irish are now making too much money. We are hearing accusations of greed, and criticism about pressure. Why? Because there are people who are envious, mean-spirited, and incapable. And when they see other people enchanted with making money, they can only hiss and begrudge. One could say their complaints are pettiness and ought to be ignored. But I believe it is more than just begrudgery. And I believe there is danger. For, although there is no more virtuous activity than making money, even the Irishmen who do it best do not seem to understand why it is such a good thing. Certainly they know that making money makes their life better. But they have no understanding of the morality of what they are doing. You can hear their uncertainty when they talk about their work. An industrialist says he has been 'lucky' and points to how many jobs his industry has created: but wealth is never built by luck, it is built by brains. And the point of industry is profit. You know a man understands the morality of money when he says, 'I had the idea for this factory. I took the risk, put in the long

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2. Give a definition to the word 'cash '. 3. Divide all the nouns into countable and uncountable. Make up your own sentences with these words. 4. Give your Russian version of this poem (in prose or in poetry). B. In teams agree or disagree with these statements giving your arguments on each point:

hours to make it work. And every year, I intend to get more productivity out of every worker, and deliver more profit to myself. And I love it.' Yes, of course such a man will create employment, will have a healthy effect on local life. But none of this is the point. He is making money through trade: that is virtuous. Trade is the means by which man gets what he wants, freely and without coercion. It is the free exercise of an individual's judgment in pursuit of whatever he values. What the begrudgers say is, 'He has plenty' never 'earns plenty' as though the wealth just existed by chance, 'so we must redistribute it'. That is greed. And the danger of the capitalists' ignorance of their virtue lies just there: they do not understand that to capitulate to redistribution is wrong. A man's money is a man's liberty. When the State controls a man's money, it controls the man. That is why the liberty of citizens rests in many people having lots of money. When private citizens have money, they must use it wisely, or lose it to more clever citizens, in whose hands the stuff will be better used. When the State has money, it is used for political purposes. Money in their hands produces nothing. In private hands, it produces goods, services, jobs, decent houses, healthy teeth, well-educated children, safer cars, and all the other things that make life agreeable. It also produces, around the fringes, blondes, Armani suits, and Rolex watches. And while those may be irritating, they are never compulsory. The meat and potatoes are work, productivity, creativity, investment, and profit, Irishmen shaping their lives through their own work with their own money. Why begrudge them a blonde and a Hermes tie? COMPREHENSION

1. Are people who make money praised for it? 2. What is the ultimate aim of business? 3. Explain in your own words how the writer sees trade. 4. Why is money better in private hands? 5. Why should we not begrudge the rich their little luxuries?

2. Do you agree with the way the writer sees trade? What kinds of 'coercion' might there be in reality? 3. Can you think of any activity 'more virtuous' than making money? If so, what is it, and why is it more virtuous? 4. Is money ever better used in public hands rather than private hands? 5. Does having money improve life for individuals? 6. Does having money generally have a positive or negative effect on people's character? Justify your answer. ACTIVITIES A. Imagine you've been given £100,000 to spend in one week. Working in groups, decide how you're going to use it. What are you going to buy? Are you going to make any investments? Will you give any to family/friends/charity? Come to a group decision, then compare your ideas with those of other groups in the class. Did you find your plans were very similar or quite different? What do you think your plans say about your character? B. Write a letter to the newspaper that printed the article, giving your own personal views. or Write an essay: How a million changed my life! AMMUNITION BOX

Key words investment

the money put into an account or company in order to make a profit capital money or property account where money is held at a bank funds money available money market banks and other institutions that buy, lend or borrow money for profit financial to do with money affluence wealth prosperous successful

1. How important is money in your society? What else does your society value?

Handy hints • Ancient coins were probably first invented in China, and appeared again in what is now modern-day Turkey in 700BC.

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DISCUSSION

• Paper money was also invented in China, while banks and credit existed in Ancient Babylon (now part of Iraq), Greece and Rome, all well over 2000 years ago! • The birth of modern capitalist thought is often ascribed to the book Wealth of Nations by Adam Smith, 1776. He preached that economic freedom ('laissez-faire') with as little government control as possible was the best way for countries to enrich themselves. • The opposite of this was Karl Marx's Das Kapital (Capital), 1867, which argued capitalism meant the concentration of wealth in the hands of a few rich, and that they would then be overthrown by revolution and a system of communism – central economic control by a government to achieve a fairer balance.

PEOPLE AND THEIR MONEY∗ VOCABULARY 1. All the words in columns A and B have something to do with money. Match a word in A with its closest opposite in B. Use your dictionary to check new words.

A generous spendthrift luxury brand new hard up deposit (v) save in the black debt tight-fisted income worthless beggar profit

B waste second-hand well off loss stingy expenditure overdrawn penny-pincher withdraw extravagant priceless millionaire necessity loan

∗ For more tasks related to the topic see SUPPLEMENTARY TASKS: Block 2 and Block 3 (p. 33–34).

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2. Complete the following sentences, including words from A or B.

1. Tom couldn't afford a brand new car ... 2. Do you see that vase? We thought it was worthless. I paid only 50p for it in a jumble sale, but… 3. I think that nowadays a car is a necessity, but my grandmother says ... 4. My two daughters are so different. One regularly saves her pocket money, the other ... 5. Susie's always getting into debt and then she has to go to her father ... 6. I was so sure my account was in the black, but I've just got an angry letter ... 7. You'd never believe that he used to be a millionaire, now ... 8. Ted's so tight-fisted. He's worn the same suit every day for work for 15 years, but his wife … 9. Anna's always complaining about being hard up, but compared to me ... 10. Mr Micawber's advice to his young friend, David Copperfield, in the year 1850: 'Annual______£20, annual______£79 and six shillings, result happiness. Annual______£20, annual______£20 and six pence, result misery.' 3. Would you be happy or miserable if you:

– fell on hard times? – lived on a shoestring? – lived in the lap of luxury? – were living rough? – couldn't make ends meet? – were rolling in money? – had to penny-pinch? – were made of money? – were down and out? – had to tighten your belt? – had a business that was doing a roaring trade? – lost a quid and found a fiver? 12

READING AND SPEAKING Work in pairs or small groups. PRE-READING TASK

You are going to read about four very different people, and the role that money plays in their lives. Discuss these questions.

1. The texts are about an aristocrat, a divorced mum, a taxman, and a miser. Which of them do you think is wealthy? Who is poor? What attitude do you think each has to money? How do their lifestyles differ? 2. The following words were said by one of the four people. Who said what? There are two statements for each person. Check any new words in your dictionary. a. 'Money's been tight since I split up from my husband four years ago. ' b. 'In my job it's possible to become a bit of a social leper.' c. 'I don't believe one should spend what one hasn't got.' d. 'I'll organize an office collection for earthquake victims, but I won't give anything myself. ' e. 'I'd baulk at buying a couple of packets of crisps as well. ' f. 'Sometimes I'll go wild and buy something just to cheer myself up, but I always regret it.' g. 'We always do our own repairs to the house, or we'll put a bucket out to catch the leaks if we can't.' h. 'People think I've got a fortune stashed away somewhere.' READING 1. Read all four texts quickly and find out who said what. Were there any surprises? Which of the four is the richest? Who is the poorest? 2. Choose two of the texts and read them more carefully. Answer the questions.

1. What is his/her job? How much does he/she earn? 2. Does he/she get on well with his wife/her husband? 3. What does he/she say about clothes and food? 4. What else does he/she spend money on? 13

5. Does he/she give any money to charities or good causes? 6. In what ways does he/she try to save money? 7. Does he/she have any extravagances? 8. What do you learn about his/her friends and/or family?

PEOPLE AND THEIR MONEY2 Who's rich and who's poor these days? Gina Brooks tracks down four people from very different walks of life The Aristocrat LADY CHRYSSIE COBBOLD, 58, lives in Knebworth House, Hertfordshire, the family home of her husband David, 60, a financier. They have four grown-up children. 'Knebworth House is run as a business but it doesn't make enough money to pay us. I have no regular salary. I never really spend money because I don't have it and I'm not bothered about clothes. I spend about £2,000 a year on them. There have been moments when we thought we might have to sell the house, but now I think there'll be enough money for the next generation to keep the house, but they won't inherit much more than that. Money is the only thing my husband and I row about. I'm always worrying about money. I don't believe one should spend what one hasn't got. My husband likes having parties, going to restaurants, having guests for the weekend. In summer we'll have up to 16 people at weekends. They're usually quite good and they'll bring a bottle of wine, but they still have to be fed. We always do our own repairs to the house or we'll put a bucket out to catch the leaks if we can't. I'll go to any lengths to save money. I'll put up wallpaper, do all the painting, make curtains and upholstery. As a child I used to get only 5p a week pocket money and I'd do anything to get more money. I'd even pick bunches of flowers from our garden and sell them to the local funeral parlour. If you have a big house, people think you must be well off, but it just isn't true.' The Divorced Mum ANGIE CROSS, 27, has four children, aged from 5 to 10. She lives in Frinton-on-Sea in Essex. She gets £585 a month state benefit and also works as a part-time barmaid for £21 a week. 14

'Money's been tight since I split up from my husband four years ago. The kids always come first, but special occasions for them are rare. They're lucky if we go to McDonald's once a month. All their school uniforms are second-hand. When I was a kid I used to get lots of treats. I'd go riding and I used to have piano lessons. I feel dreadful not being able to give my kids the things I had. Every month I work out exactly what has to be paid and what can wait. I have to be very careful with money, and that doesn't come easily because by nature I'm very extravagant. My biggest extravagance now is a packet of ten cigarettes. My monthly food bill comes to about £350, and towards the end of the month we have beans on toast three nights out of seven. I usually make the kids a packed lunch for school, but occasionally I don't have enough food to make one, so I tell the kids to have a school dinner and say they've forgotten their dinner money. It's not really telling lies because I'll always pay as soon as I can. I get very depressed and I frequently sit down and cry. Sometimes I'll go wild and buy something just to cheer myself up, but I always regret it. I once spent £30 on some clothes but I felt really guilty. What I want more than anything else is a holiday and new shoes for the kids. Who knows? I might win the lottery!' The Taxman BOB WILDEN, 24, is a tax inspector. He earns £23,558 per annum. His wife, Denise, 20, earns £7,500 as a part-time secretary. They live in Maidenhead, Berkshire. They have no children. 'I'm mean in some ways, generous in others. I'll be first at the bar to buy a round of drinks, but I'd baulk at buying a couple of packets of crisps as well. I'll go hungry rather than stop for a snack at a motorway service station. We always buy food in bulk so it's cheaper. We frequently cook in bulk, too, and put it in the freezer. Denise and I never row about money. We both indulge ourselves now and then. She'll spend £40 at the hairdresser's and I won't penny-pinch on the kind of malt whisky I get. I never spend much on clothes though, probably about £95 at the most. I don't need to look smart to be a taxman. Denise generally gives £20 a month to animal charities, but she won't donate to beggars wearing £100 trainers. I'll give the real down15

and-outs a quid sometimes. My widowed mum is a pensioner and lives alone, so I always make sure that she has enough to eat. I have four credit cards, but one is never used. A bill for £700 arrived this morning for one of them. It frightened us to death. Occasionally we have to get loans to clear our credit card debts. In my job it's possible to become a bit of a social leper. Some friends are always boasting to me about how they dodge paying tax. I don't like that. I don't like paying tax either, but I'd never dodge it.' The Miser MALCOLM STACEY, 38, is a part-time BBC journalist and author of two books about money. He earns £50,000 per annum. He lives in York with his wife Jo, 32. They have two young children. 'I never buy luxuries and I never buy a round of drinks. When colleagues go out to the pub, I'll stay in the office and say I'm expecting a phone call. I'll never invite people to dinner, but I never feel guilty about accepting their invitations. I know they invite me to have someone interesting to talk to. The meanest thing I've ever done was to go to a wedding without a present. I just took some wrapping paper and a tag saying 'Love from Malcolm' and put it onto the table with the other presents. I got a thank-you letter from the bride. She obviously thought she'd mislaid the present. People don't believe I can be so stingy. I'll organize an office collection for earthquake victims but I won't give anything myself. I've put a wishing well in the front garden. I would never ask passers-by to throw money in, but I collect it when they do. I hardly ever use my car; we grow our own vegetables and we recycle everything. We never buy new clothes, we get them second-hand from charity shops for about £2 a garment. We can live on £5 a week. I've always been mean. When I was a child I would never buy flowers for Mum, but I'd give her a bouquet from her own garden. My wife gets embarrassed by my meanness, but we never row about money. People think I've got a fortune stashed away somewhere. I don't care what they think.' SPEAKING 1. Find someone who chose different texts from you. Go through the questions together and compare the information. 16

2. Which people do these words describe? Why?

thrifty

skinflint

well off

hard up

privileged

MAKING AND SPENDING MONEY

underprivileged

3. Discuss how money (or the lack of it!) affects your life.

MAKING MONEY3 READING ONE A. INTRODUCING THE TOPIC

LANGUAGE WORK

Hot Verbs: come and go There are many common expressions with the verbs come and go. These examples come from the texts. I’ll go to any lengths ... The kids always come first... My monthly food bill comes to about £350 ... Sometimes I'll go wild ... Decide which verb fits these sentences:

1. Mini-skirts came/went into fashion in the 1960s. 2. Ugh! The milk's come/gone sour! 3. I don't feel old, but I'm beginning to go/come grey. 4. This sweater won't go/come in my suitcase. I'll have to carry it. 5. Jane and I have come/gone to an agreement. I'll shop if she cooks. 6. 'It's my dream to meet someone famous.' 'I hope your dream goes/comes true.' 7. Most of my money comes/goes on bills. 8. With coffees and VAT, your bill goes/comes to £90. 9. How did your interview go/come? 10. Britain came/went second in the 100 metres. 11. I think I must be going/coming mad. 12. The time has come/gone to make a decision. 13. My brother's business came/went bankrupt. 14. That tie goes/comes really well with your jacket. 15. Everything will come/go right in the end.

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The following article is about how counterfeiters make fake money. It is also about how the U.S. government tries to stop counterfeiting. In groups of three, make a list of things that you think the government might do to make money harder to copy.

Making Money It was so quick and easy. A fourteen-year-old boy in Scorttsdale, Arizona, pulled out his $50 bill and put it onto his school's new-computer scanner. Then he printed ten copies of his $50 bill on a color copier. Within seconds he changed $50 into $550, and he was ready to shop. Twenty years ago only a few people had the skills or equipment to make counterfeit money. Today computer, copier, and printer technology is so good that almost anyone can 'make' money. With the new technology there is a new kind of counterfeiter: casual counterfeiters. These counterfeiters are called casual because they don't have special skills and because they don't need to plan much. The number of bills made by casual counterfeiters on their home or office computer is growing fast. In fact, this number has doubled every year since 1989! There is no way to stop counterfeiting 100 percent. But the government has recently found a few ways to make casual counterfeiting very difficult. One way is to put very, very small words, called microprint, in hidden places on the bill. These words are only 6/1000 inch. No one can read them without a magnifying glass, a special glass that makes things look bigger. And they are too small to come out clearly on a copier. If someone copies a bill that has microprint and you look at the copy through a magnifying glass, instead of microprinted words, you will see only black lines. Another way to stop people from making counterfeit money on their home computers is to use special color-changing ink. Money 18

printed with color-changing ink will look green from one angle and yellow from another. Home computers cannot use color-changing ink. So any copies from a home computer will have normal ink and can be noticed quite easily. Additionally, money is made on special paper with very small pieces of red and blue silk mixed in. And on each bill there is a special line that runs from the top to the bottom of the bill. Suppose, for example, that you hold a $20 bill up to the light. If you do this, you can see the line has the words 'USA twenty'. The line turns red if you put it under a special (ultraviolet) light. This line and the special paper with red and blue silk are not easy for home computers to copy. The government must try many different ways to stop counterfeiting. The Bureau of Engraving and Printing needs to keep changing the way money is made because counterfeiters can learn to copy the changes. Today copiers can't copy microprinted words or colorchanging ink. But, in a few years, who knows? READING FOR MAIN IDEAS 1. The following sentences tell the main ideas of the seven paragraphs in 'Making Money'. Read the sentences. For each, write the correct paragraph number. The first one has been done for you.

Paragraph a. Casual counterfeiting is becoming a big problem, and the government is fighting the problem. b. Color-changing ink is a way to stop counterfeiters. c. A child can easily copy paper money. d. The government must always keep changing the bills to stop people from counterfeiting. e. Microprint is a way to stop counterfeiters. f. New technology makes casual counterfeiting possible. g. Special paper and a special line are two ways to stop counterfeiters.

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2. Check the sentence that best describes the main idea of the whole article.

___ a. It's easier to counterfeit money today than it was twenty years ago. ___ b. The government has several ways to try to stop counterfeiters. ___ c. New technology makes counterfeiting easier, but the government has changed bills to make counterfeiting more difficult. READING FOR DETAILS Complete the sentences with information from the text.

1. Twenty years ago, only a few people had the _________or ________ to make fake money. 2. One way to stop counterfeiters from making fake money on a _________is to use microprinted words. 3. Bills have a _________that you can see if you hold them up to the light. 4. Bills are printed on special paper that has pieces of ___________and _________silk. 5. A boy in Scottsdale, Arizona, used his school's scanner to make _________copies of a $ _________ bill. 6. Money printed with color-changing ink looks green from one angle and _________ from another. READING BETWEEN THE LINES

____3____ _________ _________ _________ _________ _________ _________

Based on the information in the text, which of the following statements do you think are true? Write T for true, F for false. While some answers may be better than others, there aren't right or wrong answers. Compare your answers with a partner, and discuss the reasons for your answers.

____ 1. Some casual counterfeiters counterfeit a lot of money, but others counterfeit only a few bills. ____ 2. Casual counterfeiters are bad people. ____ 3. Casual counterfeiters are easy to catch. ____ 4. Today most counterfeit money is made by casual counterfeiters. 20

____ 5. The government changes the way it makes money every few years. ____ 6. Copiers will be able to copy microprint in just a few years. READING TWO

A. EXPANDING THE TOPIC

Before computers and copiers, counterfeiting was not easy. You needed a large printing press, the skill to use the press, and the artistic skill to copy a bill. Counterfeiting often took a lot of time, planning, and hard work. But the results were excellent. The counterfeit money looked and felt like the real thing. Today, professional counterfeiters still make fake money the old way – on printing presses. Read the story of Michael Landress, who was once a professional counterfeiter. Then answer the questions that follow. Check your answers with a partner.

I MADE IT MYSELF It took months of planning, of trying to find the perfect paper, of mixing and remixing ink to get the right color, of printing and reprinting to get the right feel, but I did it. I made a perfect copy of a $100 bill. During the days, I did regular print jobs at the shop. Then every evening at five o'clock, I sent my workers home, hoping no one would ask why I stayed late. I pulled out the paper, ink, and other equipment I hid away the night before and slowly, carefully worked until the sun came up. I didn't have time to sleep. I was too nervous to sleep anyway. As I worked, I worried about the Secret Service men coming to get me. In the beginning, as I prepared the paper, I said to myself, 'I'm just printing little blue and red hair lines on paper. They can't arrest me for that.' Then as I printed the numbers, I said, 'I'm just printing small numbers in four corners of a page. They can't arrest me for this.' Finally, as I got closer and closer to printing something I could be arrested for, I began to wonder, 'Is this really that bad? Who am I hurting? I'm making myself a few thousand dollars so I can take my boy and move to Puerto Rico. I'm just trying to do my best for my family, is that so wrong?' 21

After about three weeks of slow work, I finally printed out a whole sheet of $100 bills. I took out the magnifying glass and studied my work. 'No. Oh, Ben, no. Ben, you don't look right,' I said aloud to the empty shop. The portrait of Ben Franklin on the front of the bill just didn't look right. To most people, he probably looked like the one on the real bill. But I could see that it wasn't a perfect copy. I needed it to be perfect. So, slowly, painfully I started over. A week later, I was printing the last of the bills. I didn't hear them come in because of the noise of the press. I just looked up from studying the now-perfect portraits of Ben Franklin to see a gun at my head and hear the Secret Service man say, 'Just like getting caught with your hand in the cookie jar, huh, Mike?' Adapted from M. M. Landress with Bruce Dobler. I Made It Myself (New York: Grosser and Dunlap, 1973). (The Secret Service is the government agency that tries to find and catch counterfeiters.) 1. The title of the story is 'I Made It Myself.' What does 'it' refer to? 2. In the third paragraph, Landress says, 'No. Oh, Ben, no.' Who is Ben? What was wrong? 3. In the fourth paragraph, Landress says, 'I didn't hear them come in because of the noise of the press.' Who does 'them' refer to? 4. The story ends with 'Just like getting caught with your hand in the cookie jar, hub, Mike?' What do you think 'getting caught with your hand in the cookie jar' means? B. LINKING READINGS ONE AND TWO There are two kinds of counterfeiters: casual counterfeiters, like the fourteen-year-old boy in Scottsdale, Arizona, and professional counterfeiters like Mike Landress. Based on the readings, compare the two kinds of counterfeiters. Put checks (V) in the boxes. Explain your answers to your classmates.

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Causal counterfeiters

Professional counterfeiters

1. Make money more quickly 2. Make better-looking fake money

2. David and Will are two high school students. Today they feel bored in class, so they are passing notes back and forth. Read the notes. Complete the notes with the comparative form of the adjective provided. The first one has been done for you.

Will:

3. Won't be affected by microprint David:

4. Make fake money that really feels like real money 5. Need special skills

Will: David:

6. Do much more counterfeiting than they did twenty years ago 7. Can get caught more easily

Will: David:

EXPLORING LANGUAGE

GRAMMAR: COMPARISONS WITH ADJECTIVES

1. Read the following advertisement. Underline all the words that end in -er. Then answer the questions that follow.

COUNTERFEIT MONEY DETECTOR Protect your business against counterfeit money! Our new machine for checking bills is faster than the old machines. And our machine is easier to use than the old machines. All you do is put a bill in the machine. If the bill is counterfeit, an alarm bell will ring. It's as easy as that! Counterfeit protection is here. Buy the Counterfeit Money Detector today and you can sleep well tonight. You have to be smarter than the counterfeiters! Buy our machine. Counterfeit Money Detector–$450 Call today. Call 1-800-23-MONEY 1. What three words did you underline? 2. What word follows each of these words? 23

Will: David: Will: David: Will:

Dave, сan you believe how boring this class is? Argh! This is even _____(1)more boring____(boring) than Shoemaker's history class! Yeah. I'm almost asleep over here. Did you hear what Tom did last weekend? Wow. It's (2) _____ bad_____ than anything I've ever done. No. What? You know that old car of his? He really wanted to buy a (3) _____ good _______one. But he didn't have any money. So guess what he did? He stole money from his parents? No, he did something much (4) ____ crazy ________ than that! He copied a $100 bill on his family's new scanner and printed it out with their color printer. Wow! Doesn't he know counterfeiting is illegal? I know. I told him. But he said he's (5) ______ smart _________ than most car salesmen. He says they won't even know the money is fake. This is (6) _____ dangerous _______than anything he's ever done. He could go to jail! I know. I told him all that, too. He just said making money this way is (7) _____ easy _____ and (8) ____ fast _____ than getting a job. Can you believe it? Tom's crazy! He's really going too far this time!

ON YOUR OWN WRITING TOPICS

Choose one of the following topics. Write one or two paragraphs.

1. Compare casual counterfeiters to professional counterfeiters. Use the information from the readings and from the exercises.

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2. The word counterfeit applies to anything fake. For example, you can buy counterfeit Levi jeans, counterfeit music CDs, or counterfeit computer software. Making counterfeit computer software is a serious crime. People copy expensive software and then sell it for less than it costs in the stores. Compare counterfeiting computer software to counterfeiting money. Which one is more difficult? Which one is a worse crime? Explain.

A envy to fantasize a jigsaw a windfall

WINNING THE LOTTERY∗ READING AND LISTENING PRE-READING TASK

1. Look at the title of the article. It is based on a well-known song from a 1950s' American musical. T 2 Listen to one or two verses of the song. What don't the singers of the song want to do? What do they want to do? 2. The article is about people who win huge amounts of money in a lottery or on the football pools, and how this affects their lives. Which of the following do you think are good suggestions (√) or bad suggestions (X) for such people?

If you win a lot of money ...

a purpose to fritter away money

B a sum of money you receive unexpectedly an aim, a reason for doing something a feeling of discontent because someone has something that you want to spend money foolishly on small, useless things to imagine, to dream a picture cut into pieces that you have to put together again

READING Read the article. The following sentences have been taken out of the text. Where do you think they should go?

a. They were furious! b. …we feel at home c. It is tempting to move to a bigger house d. …'nothing but misery' e. …what the money would do to us! f. …it seems fantastic! g. …most of their money will be frittered away h. …if you lent him some money.

... you should give up work.

□

... you should buy a new house.

□

... you mustn't let it change you.

□

WHO WANTS TO BE A MILLIONAIRE?

... it's a good idea to keep it a secret.

□

... you should give money to everyone who asks for it.

□

... you should go on a spending spree.

□

The National Lottery creates a millionaire every week in Britain. Maybe this turns you green with envy, but what is it actually like to wake up one day with 5 more money than you can imagine? Nearly all of us have fantasized about winning the big prize in The National Lottery. We dream about what we would do with the money, but we rarely stop to think about (1) ___________. For most of us, our way of life is closely linked to our economic circumstances. The different parts of our lives fit together like a jigsaw: work, home, friends, hobbies, and the local pub make our world. This

What suggestions would you give to someone who has won a lot of money? ∗

3. The words in A are in the article. Match a word in A with a definition in B.

For more tasks on the topic see SUPPLEMENTARY TASKS: Block 4 (p. 35).

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is where we belong and where (2) _______________ . A sudden huge windfall would dramatically change it all and smash the jigsaw. For example, most people like the idea of not having to work, but winners have found that without work there is no purpose to their day, and no reason to get up in the morning. (3) ________ in a wealthy neighborhood but, in so doing, you leave old friends and routines behind. Winners are usually advised not to publicize their address and phone number, but charity requests and begging letters still arrive. If they are not careful (4) ___________ on lawyers' fees to protect them from demanding relatives, guards to protect their homes and swimming pools, and psychotherapists to protect their sanity! People who get it wrong There are many stories about people who can't learn how to be rich. In 1989, Val Johnson won £850.000 on the pools. Immediately, she went on a spending spree that lasted for four years and five marriages. She is now penniless and alone. 'I'm not a happy person,' she says. 'Winning money was the most awful thing that happened to me.' Then there is the story of Alice Hopper, who says that her £950.000 win four years ago brought her (5) ________________ . She walked out of the factory where she worked, and left a goodbye note for her husband on the kitchen table. She bought herself a villa in Spain, and two bars (one a birthday present for her eighteen-year-old son). After three months, her son was killed while driving home from the bar on the motorbike, which his mother had also bought for him. She found the bars more and more difficult to run. She now sings in a local Karaoke bar to earn money for groceries. 'I wish I was still working in the factory,' she says. 'It won't change us!' That's what all winners say when they talk to reporters and television cameras as they accept the cheque and the kisses from a famous film star. And some winners, like Malcolm Price, really mean it. He refused to change his way of life when he won £2.5 million. The next Saturday night, he went to his local pub as usual, and as usual he didn't buy his friends a drink. (6) _____. He, too, is a lonely man now. 27

Imagine you are an average family and you have just won £1 million. At first (7) ______. Just by picking up the phone you can get the toilet seat fixed, and the leak in the roof repaired – all the problems that have been making your life miserable. 'But, it won't change us, darling,' you say to your wife. 'Yes, it will!' she insists. 'I want it to change us. It will make life better! It'll be brilliant!' Already the children are changing. Just this morning they were ordinary, contented kids. Now they are demanding computer games, CD players, motorbikes ... 'Hold on!' you shout. 'Let me answer the door.' It is your neighbour, with a bunch of flowers and a loving smile on her face. 'Congratulations!' she shouts. 'I was wondering if you could lend me ...' You shut the door. In the first week you receive two thousand letters advising you how to spend your money, either by investing it or giving it to good causes. Your son comes home with a music system that is bigger than the living-room, your sixteen-year-old daughter books a holiday to Barbados with her boyfriend, and your wife buys a Rolls-Royce. 'But darling,' you say, 'we haven't received one penny of this money yet! What about the broken toilet seat? What about the leaking roof? What about me?' 'I haven't forgotten you,' says your wife. 'I've bought you a racehorse!' The next day you get a begging letter from a man who won the lottery a year ago. He tells you how he spent £2,000,000 is in three weeks. He says (8) _____________, he could start his life all over again. You begin to think that winning a fortune brings more problems than it solves! You realize that you are quite fond of the broken toilet seat and the leaking roof after all. When you next buy your lottery ticket, or do the football pools, just stop for a minute and ask yourself why you're doing it. Do you actually want to win? Or are you doing it for the excitement of thinking about winning? COMPREHENSION CHECK 1. Look back at the suggestions in the PRE-READING TASK. Have you changed your mind about any of them?

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2. Answer the questions:

VOCABULARY

a. Does the magazine article talk more about the positive side of winning a lot of money, or the negative side? b. How can a large amount of money affect our work? ... our home? ... our friends? c. How does the article say money can be 'frittered away'? d. The following groups are mentioned in the article: charities, relatives, lawyers, security guards, psychotherapists. Which of them is speaking in the following lines? 'Tell me about your relationship with your father.' 'Twenty pounds will feed a family for a month.' 'Please give generously.' 'Now, John, you know you've always been my favourite nephew.' 'Sorry, sir. You can't go any further without permission.' 'I strongly advise you to take them to court.' e. Give three facts each about the lives of Val Johnson, Alice Hopper, and Malcolm Price. Why are they all mentioned? f. In the imaginary family that has won £1 million, who say's, 'It won't change us!' Who says, 'I want it to change us'? g. What do the children want to have? What does the neighbour want? h. Who in the family doesn't buy anything? What do the others buy? What do you think? 1. In what way is our life like a jigsaw? 2. How does winning a large amount of money smash the jigsaw? 3. Why do we need work in our lives? 4. What does he mean when he says, 'It won't change us'? What does his wife want to change? 5. What for you are the answers to the questions in the last paragraph of 'Who wants to be a millionaire?'?

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Find a word or words in the text that means the same as the following definitions. They are in the same order as they appear in the text.

a) not often b) very big c) break violently d) area around your house e) asking (for something) very strongly f) keep (something) safe, defend g) a time when you go to the shops and spend a lot of money h) having not a penny i) basic things to eat like bread, sugar, vegetables j) a hole through which water gets in SPEAKING What would you do if you won the lottery? How would you spend your money? Share your idea with your partner. (Mind your grammar! Second Conditional: If I won …., I'd…..) WRITING Write a composition. You may choose one of the topics given or suggest your own.

If I were a millionaire … If I got a lot of money … Why I don't buy lottery tickets. Soon gotten, soon spent; ill gotten, ill spent. (John Heywood) SPENDING MONEY LISTENING AND SPEAKING A. Bargaining5 T 3 Lucy is in the Portobello Road street market in London. She's looking at an antique stall, and she's just seen a brass plate. She collects brass ornaments and she's interested in 30

buying it. Listen to her conversation with the stall-holder, and answer these questions.

1. How much does he say it's worth? 2. How much is he asking for it? 3. What does 'quid' mean? 4. He suggests four different prices. Write them down. 5. She makes four offers. Write them down. B. English sayings about money Make up mini-dialogues basing on given questions after the English quotations and sayings:

The customer is always right. Have you bought anything this week? What? What did it cost? Was it worth it? Was it new or second-hand? Was it a bargain? Did you get a receipt? How often do you haggle? Neither a borrower nor a lender be. (from 'Hamlet' by William Shakespeare) Have you ever borrowed money from anyone? Who from? How much? Have you ever lent money to anyone? Who to? How much? Are you in debt at the moment? (i.e. Do you owe anyone any money?) Does anyone owe you any money? Who? How much? Look after the pennies, and the pounds will look after themselves. Do you save money? Are you saving for anything at the moment? What? Do you keep your money a) in the bank? b) in a safe?

c) in a moneybox? d) under the bed?

Have you got a bank account? Do you get any interest? What's the rate of interest? If you had a bank overdraft, how much interest would you have to pay? 31

Live now – pay later. Have you bought anything on hire purchase? What? Did you pay a deposit? Do you think it's a good idea? Have you got a credit card? Which one? (Visa? American Express? Access?) When you pay cash, do you ask for a discount? Do you usually get it? …Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result miser… (from 'David Copperfield' by Charles Dickens) Do you spend more than you earn, or less than you earn? Do you have a budget for your money? Do you keep a record of your expenses? BUDGETING READING Read the text and complete the exercises below:

DO YOU KNOW WHERE YOUR MONEY REALLY GOES? Does every person need a budget? Before you answer this question, consider a few more. Are you always running out of money? Do you pay your bills late? Will you need to buy a car someday? Will you need more schooling? If you answered 'yes' to any of those questions, you probably need a budget. What is a budget? It's a spending plan. The main parts of the plan are income and expenses. The money we earn is income. The things we spend money on are expenses. For a budget to work, expenses cannot be more than income. Starting Out Before you start a budget, you need to know your net income. That's the amount of money you actually get. For example, your salary may be $300 a week. But your paycheck is less than that. Items such as taxes and insurance are taken out, or deducted. If you have a paycheck, study it to see what was taken out. 32

Knowing your net income is pretty easy. The hard part is figuring out what your expenses are. It helps to write a list. Put the necessary costs first. List food, rent or mortgage (mortgage: rights to a piece of real estate in return for a loan to be paid) payments, electricity, gas, and telephone. Then add bus or train fare, car payments, clothing costs, and school and book fees. Also add any other expenses. You may find it helpful to list these costs on a chart. Use headings like 'Food,' 'Clothing,' 'Rent,' and 'Transportation.' You might list movies, concerts, and rental tapes under 'Entertainment.' What you spend in restaurants can go under 'Food' or 'Entertainment.' List things wherever they make sense to you. Getting It Together How will you get information about your spending? Some of it will be easy to figure out. Other costs may be harder to gather. You get receipts for most things you buy. Save those receipts. If you have a charge account, the statements can help you. Now is the time to begin your record keeping. At the end of each day, write down what you have spent. Keep track of your expenses for a month. This will give you a good idea of where the money goes. You may be quite surprised. Eating in restaurants and buying snacks may be costing you a lot. A few items of new clothing might add up to hundreds of dollars. But that doesn't mean you should stop eating out or shopping. It may mean only that you have to spend more carefully. Some expenses, like car insurance, come only once or twice a year. You may want to figure out what it comes to for each month. That will help you plan a monthly budget. If you seem to run short of money every month, a budget could be the answer to your problems. Keeping records may sound like a lot of work. It is, but it's time well spent. And it's not a chore you must do forever. Once you see where your money goes, you can control your spending. Looking Ahead This is a good time to think about the future, too. Perhaps you're planning to buy a car or a house. You may need money for future schooling or vacations. These things are costly. You need to put money away to pay for them. 33

Have you heard the old saying 'Save for a rainy day'? It's not really about weather. It's about being prepared. Something might happen – good or bad – for which you haven't planned. That's a reason to have savings. Try to save some money from each paycheck. Put it in a savings bank or other safe place. Belt Tightening What if you find that you spend more than you earn? Then you had better look hard at your spending. Look for ways to cut back. Use food expenses as an example. Maybe you can eat in restaurants less often. Maybe you can cook meals from scratch instead of buying prepared foods. Try to become a more careful shopper. Watch for special sales. Perhaps an item costs less one week. Buying enough for a month will save you money. Budgeting isn't easy. It's hard to change your spending habits. But remember, the money you don't spend can be put to good use. You can spend it on that 'rainy day' and on a wonderful future! 1. Match the words and their definitions:

to run out to figure out to deduct to keep track snack chore

to observe light meal to come to an end a routine job to take away from a total to discover, to determine

2. Give the definitions to the following words:

to make sense, to consider, a bill, income, net income, expenses, rental tapes, to gather, to cut back, costly. sian:

3. Translate the following words and expressions into Rus-

to list on a chart, paycheck, to look hard, to watch for, to save for a rainy day. 4. Find in the text:

a. Вещи, на которые мы тратим деньги, – это расходы. b. Трудная часть состоит в том, чтобы определить, каковы ваши расходы. 34

c. Проследите за своими тратами в течение месяца. d. Эти вещи дороги. Вам нужно отложить деньги, чтобы купить их. e. Но это не значит, что вам нужно прекратить обедать в кафе и ресторанах или делать покупки.

2. How do they collect the money? Tick the items. By calling at the house ____ Selling second-hand goods ____ Letters of appeal ____ Advertisements in newspapers ____ Street collection ____ Lotteries ____ TV programmes ____ Other methods _____

5. Answer the questions:

What is a budget? Why is it important? What are the main parts of the budget? How does 'income' differ from 'net income'? What are the ways to figure out how much money you spend every month? 'Save for a rainy day' – what is it about? What are the ways to cut back spending? What do you think the greatest part of your spendings is? Do you need a budget? Why? Why not? CHARITY

∗

LISTENING 1. T 4 Now listen to the descriptions of three very popular charities in the UK and complete the chart below.

Charity

SPEAKING Work with another student and discuss these points.6

1. Do voluntary organisations collecting money exist in your country? If so, which groups of people are they trying to help? Tick the categories below. Sufferers from cancer ____ The blind ____ Other medical causes ____ The homeless ____ The aged ____ Children ____ The environment ____ The Third World ____ Animals ____ Religious groups ____ Poverty, general welfare ____ Others ____ ∗

3. Which causes are you most likely to give to? 4. Which method of collecting money do you prefer? 5. Do you think it is the most effective method?

Founded

A B C 2. Look at the statements below. Work with another student and complete them. Then listen again and check your answers.

A 1. The charity has over _____ projects in Britain alone. 2. The speaker had a collecting box shaped like a _____ and used to put money in a hole in the _____ . 3. The boys and girls had to be in the public eye every year because they acted as _____ boys and girls at _____. Now, however, this is done by ___________ . B 1. The charity owns over _____ houses and gardens, and _____ miles of coastline. 2. Among its different properties are _____ villas and _____ sites.

To explore the topic see SUPPLEMENTARY TASKS: Block 5 (p. 40).

35

Main concern

36

3. The membership fee used to be _____ pounds but you can visit the land and _____ sites free provided it doesn't interfere with _____ or _____ . C 1. The charity became well known in the _____ . It was one of the first charities to sell _____ goods in its own _______ . 2. Its policy is to keep _____ down so that the maximum amount of money reaches those in _____ . READING Read this text about charities and answer questions 1–3 below.

Charity once meant love or affection, but in late twentiethcentury Britain its meaning has been transformed. Today charity stands for big business. Charities employ 200,000 people, account for as much as four per cent of Britain's gross domestic product, and exceed in scale that most ancient and widespread of all industries, farming. The influence of charities reaches everywhere. Their massive spectaculars get privileged time on the nation's television screens. Spokespersons lobby for every imaginable good cause, from the environment to the Third World, poverty to disease, religion to education, childhood to old age. Charities run our lifeboats and provide other vital emergency services through the Red Cross and St John Ambulance Brigade. They are, too, the human guardians of the animal world, caring especially for those great British favourites, donkeys, dogs and birds. Without charities a great many unfortunate people would be even worse off: old soldiers, battered women, the deaf, the dying, the blind, the homeless, the suicidal, sufferers from every rare and common disability. Britain raises more money for medical research through charities than it does through the Government's Medical Research Council. One charity, the National Trust, dominates the endless task of preserving the nation's heritage. Others are rebuilding the finances of our universities, and in a few years have raised more than £350 million for Oxford and Cambridge alone. 37

Charity benevolence seems to have had its origins when warriors tramped off to the Crusades, leaving their possessions in the care of a trusted friend. Trust, at any rate, remains the basis on which charities rest. Charities today raise and spend money as any business does. But there is one important difference. Unlike company directors, charity trustees must not make any profit for themselves. Giant fund-raising events of the eighties cast charity in a glare of publicity. People began to ask questions: were the fund-raising methods legitimate? Was the money raised well spent? And why, in this age of universal welfare, did we need charities at all? The questions remain to be answered. 1. Where do you think the text comes from: a) a novel; b) a charity's publicity leaflet; c) a newspaper. 2. What title would you give to the piece: a) Where charity is, there love is; b) The changing face of charity; c) Charities? We can do without them. 3. Which charities/charitable causes does the text refer to? COMPREHENSION Now read the text again and decide whether the statements below are true or false. Correct those that are false, and underline the sections in the text which show the others are true. Note that one part of a sentence may be true and the other false.

1. Charity is like big business nowadays because it involves large sums of money… 2. ... and charities make a profit for the employees. 3. TV companies provide time for appeals on behalf of all kinds of causes. 4. Charities improve the position of many unfortunate people. 5. There are charities to help women who have been beaten by their husbands and people who think of killing themselves. 6. The Government provides most of the money for medical research. 38

7. Big charity events in recent years have brought charities to public notice ... 8. ... although people wondered whether the methods employed to raise money were the right ones. LANGUAGE FOCUS Complete the text, inserting the definite article 'the' in the spaces, only where it is essential.

Why should we have ____(1) charities at all? In an age when people regard _____(2) social benefits as a right, why should things as central to ______(3) nation's life as _____(4) education and ______(5) health depend to any extent on _____(6) charity? People expect _____(7) state to provide. A recent survey showed that _____(8) ninety per cent thought ______(9) state, not ______(10) charity, should look after those in _______(11) need. And _______(12) random pattern of ______(13) charity services shows _______(14) charity alone could never replace ______(15) state as provider. If ________(16) Britain's welfare were entirely left to _____(17) whims of charitable giving: ______(18) country's animal pets would live like ______(19) lords, while its mentally-ill people roamed _____(20) streets. According to ______(21) experts, _______(22) perfect charity from _______(23) point of ____(24) view of someone trying to raise money from _______(25) legacies would be one for terminally ill donkeys adrift in a lifeboat, because ________(26) nursing care, _____(27) animals and ______(28) lifeboats are ______(29) three things that most interest _____(30) people making ______(31) today's wills. Such eccentric patterns of _____(32) giving would clearly make a very unreliable base for ______(33) nation's welfare. But that does not mean there is not still an important place for ____(34) charity in ______(35) modern world. No bureaucrat will ever see _____(36) need for a donkey sanctuary in Penge or a hospice for ______(37) dying in Scunthorpe. But some local person surely will. And who would deny such people _____(38) chance to do _____(39) good to ______(40) general public in their own way? 39

LISTENING 1. T 5 Before you listen, discuss these points with another student.

1. How do you feel when you see a beggar in the street? Do you always give money? How do you feel if you don't? 2. When charities ask you for money, which feelings are they appealing to? 3. Look at the chart below. Which categories would charities approach to get the most money? rich neighbourhood___ young___ male____ married___ single___ under 50___ 50-60___

poor neighbourhood___ old___ female____ widow___ widower___ 60-70 ___ over 70____

Now listen to an interview with Bob Howard, an expert on fund-raising, and complete the chart. How far do your answers above coincide with his? 2. Now listen to the conversation again. In each question, choose the correct answer from the choices given.

1. Bob thinks charities are justified in shocking people: a) because anything is justified in a good cause; b) because you have to adopt Machiavellian methods to persuade people to part with their money; c) by making use of advertisements for commercial products; d) if their advertising enables them to collect more money. 2. What persuades people to give money to help those suffering from an illness is that they: a) feel sorry for them; b) feel they are partly responsible; c) are not sure whether they feel pity or fear; d) put themselves into the sufferer's situation.

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3. If we pass a beggar in the street and give him nothing, afterwards we are likely to: a) think we were right if he looked young and well-fed; b) realise we were mistaken in this impression; c) regret it; d) feel happy because we are not in his situation. 4. Why is a woman called Violet more likely to leave money to charity than one called Marilyn? Because: a) she is probably older; b) she is probably richer; c) she probably belongs to a higher social class; d) it is a more beautiful name. 5. People who use the box marked 'other' on an advertisement for charity with other boxes marked for fixed amounts: a) are not expected to give as much as the minimum box; b) are expected to give more than the maximum box; c) don't know how much to give; d) are usually less generous than other people.

____________________________________________________ SUPPLEMENTARY TASKS Block 1 MONEY TALKS READING 1. Read the article and explain the links between the following.

a) John Sutter – a private empire – disillusion b) James Marshall – a sawmill – half a pea c) President James Polk – the gold rush – the 'Forty-Niners'

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GOLD FEVER7 In 1848, when gold was discovered in California, John Sutter was already one of the wealthiest people in the state. By 1850 he was a ruined man. A Private Empire Sutter was a Swiss immigrant who came to California in 1839, intent on building his own private empire. At that time, the state was a distant outpost that only a handful of Americans had seen. San Francisco had just a few hundred residents. Sutter built a fort, and soon he had 12,000 head of cattle and hundreds of workers. By the mid-1840s, more and more Americans were trickling into California by wagon and ship. Sutter welcomed the newcomers: he saw them as subjects for his new kingdom. But he had no idea that the trickle would become a flood, a deluge of humanity that would destroy his dream. Discovery At the beginning of 1848, Sutter sent James Marshall and about twenty men to the American River to build a sawmill. It was nearly complete when a glint of something caught Marshall's eye. Later he wrote, 'I reached my hand down and picked it up: it made my heart thump, for I was certain it was gold. The piece was about half the size and shape of a pea. Then I saw another'. The 'Forty-Niners' By the end of the year, whispers of a gold strike had drifted eastward across the country – but few easterners believed it until President James Polk made a statement to Congress on December 5, 1848. The discovery, he declared, was a fact. Within days 'gold fever' descended on the country. The news was telegraphed to every village, to every town. Hundreds of thousands of people, almost all of them men, began to prepare for the epic journey west. They sold possessions, mortgaged farms, borrowed money, and banded together with others from their towns to form joint stock companies. They said their goodbyes and streamed west – thousands of young adventurers willing to take a 42

chance on gold: a year of pain in return for a lifetime of riches. They were called 'Forty-Niners' because they left home in 1849. When they would return was another matter entirely. By early 1849, gold fever was an epidemic. By the end of 1850, Sutter's grand empire had completely collapsed. Sutter did not have gold fever. He wanted an agricultural empire and refused to alter his vision. In the new California, he was simply in the way. The FortyNiners trampled his crops and tore down his fort for the building materials. Disillusioned, he eventually left the state. The man who had had the best opportunity to capitalise on the discovery of gold never even tried. (Based on an article in The Independent on Sunday)

phrases in the box to make more collocations. (In some cases more than one answer is possible.)

2. Which words would you use to describe: a) John Sutter; b) one of the Forty-Niners?

For example: I was twenty-one before I had a go at skiing for the first time.

risk-taker visionary farmer opportunist businessman dreamer entrepreneur conservative 3. T 6 Listen to and read the article again. Then put the lines of this summary in the correct order.

_____ a) a fortune. John Sutter, on whose land gold was discovered, had __1__ b) The gold rush is the story of thousands of ordinary people willing to take _____ c) a chance on gold in the hope that they might make _____ d) a statement in Congress declaring that the discovery was a fact, it created _____ e) a sensation, and thousands of adventurers poured into California. _____ f) no idea of the impact gold would have. When President Polk made

a) take a chance b) made a fortune c) had no idea d) created a sensation money a risk an atmosphere a mess of his exams a think about it sense advantage of the hotel facilities the right conditions a go at skiing 2. Choose five collocations and use them to write sentences about yourself.

LISTENING 1. T 7 Sam Brannan was one of the first to make a fortune from the gold rush. Listen to his story. 2. Match the beginnings (1–7) with the ends of the sentences (a-g). Then listen again and check.

1. During the gold rush, Sam Brannan became 2. When gold was discovered in 1848, he owned 3. He recognised a gap in the market and bought up all 4. Having cornered the market, he ended up 5. He became the first 6. However, Brannan lost his fortune and his health 7. In the end California's first millionaire

1. This table shows the verb + noun collocations from the summary in 3 in the previous section. Use the nouns and noun

a) died an unnoticed death. b) one of the most successful businessmen in California. c) with more gold than the gold diggers. d) the only store between San Francisco and the goldfields. e) because of alcoholism. f) the picks, shovels and pans he could find. g) gold rush millionaire.

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LEXIS

METAPHOR 1. What do these words all have in common? Check them in your dictionary if you need to.

deluge

drift

flood

stream

trickle

2. The words in the box in 1 can be used metaphorically to describe movement (movement = water). For example, in Gold fever the author writes: ... Americans were trickling into California. Here, trickling means 'moving in tiny numbers'. Use the words in 1 to complete these extracts from Gold fever so that they fit the definitions in brackets. (You may need to change the form of some of the words.) Then look back at the text above to check your answer.

a) ... the____(movement of a tiny number) would become a____(movement of a large number), a_____ (rapid movement of a large number) of humanity. b) ... whispers of a gold strike had____(moved steadily but with random changes of direction) eastward ... c) They said their goodbyes and____(moved steadily and rapidly in the same direction) west. 3. Read the conversation between Martha and her Dad. Use the words in the box to complete some expressions which show Time = money and Ideas = food.

spend chewing

half-baked wasting

spare digest

profitably precious

food running out worth

Martha: Morning! Dad: You're in a good mood today. Any particular reason? Martha: Yes, there is actually. Dad: What – in love again? Martha: No – I've decided to become a millionaire. Dad: You've decided to become a millionaire. I see. And how exactly do you propose to do that? Martha: Well, if you can (1)____a couple of minutes, I'll tell you. Dad: Martha, you know how (2)____my time is ... 45

Martha: Oh, Dad, I promise you it will be (3)____your while. Dad: Okay – but just five minutes or else I'll be late for work. Martha: Right. I've got this idea for a website ... Dad: Oh come on, you're (4)____your time if you think you can make money out of the Internet. All the best ideas have been used up. You should be using your time more (5)_____ getting a proper job ... Martha: All right, all right. Look, I promise you it's not some (6)____idea. It's something I've been (7)____over for the last few weeks. Please just have a look at these plans, then tell me what you think. Dad: Hm, hm, yes, interesting. There's certainly (8)____for thought here. How are you going to find the money to do it? Martha: Ah, well, um, I was rather hoping you might help me. Oh will you? Dad: Well, I can't tell you until I've had time to (9)____all this information. But you've certainly got a good idea. It's very original. Martha: But we're (10)____of time. If we don't do it very soon, somebody else will. Dad: Yes, you could be right. Look, I've got to go now, but as soon as I get back from work I'll (11)____the rest of the evening looking at it. Have you told anybody else your idea? Martha: No, not yet. Dad: Well, don't ... I think you've really got something here. 4. Read the sayings about money. Which of the sayings do you like best? Discuss your choice with a partner.

1. Money makes the world go round. 2. There's no such thing as a free lunch. 3. Put your money where your mouth is. 4. In for a penny, in for a pound. 5. Watch the pennies, and the pounds take care of themselves. 6. The love of money is the root of all evil. LISTENING AND SPEAKING 1. Match the questions and answers.

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Questions

a. It's impossible to have too much money – do you agree? b. Would you prefer fame or fortune? c. Were you given or did you earn pocket money as a child? d. What was the first thing you saved up for and bought yourself? e. If you could buy yourself a skill, talent or change in your appearance, what would it be? f. What can't money buy? Answers

1. Happiness. I tend to think that once I have enough money to buy some new clothes or get a better car, then I'll be happy. But it never works out like that. 2. A set of toy soldiers. Not the plastic ones you get nowadays, but little metal ones, beautifully hand-painted. It took me nearly a year to save up for them. If I'd known that they would be valuable antiques today, I would've kept them. They'd probably be worth a fortune now. 3. Yes. If you have dreams, money makes them possible. Personally, I can't imagine having too much money. I'm always broke. Anyway, if I ever felt I had too much money, I'd give it away to charity. 4. Well, there are lots of things I'd like to be better at, but if I had to choose one, it would have to be football – I'd like to be a brilliant football player! 5. Being practical, I'd say fortune, but if I were single with no kids and no responsibilities, I'd go for fame. 6. I was given two shillings a week by my father, but on condition that I behaved myself. If I didn't behave well, I didn't receive it. Parents were much stricter in those days. 2. T 8 Listen to the interview with Patti, Eric and Lee, and check your answers to 1. 3. T 9 How do you think Patti, Eric and Lee would have answered the following two questions? Discuss with a partner, then listen and check.

b. If you were given £1,000 to save, spend or invest in just one day, what would you do with it? 4. Work with a partner or in small groups. Ask and answer the six questions in 1 and the two questions in 3. CLOSE UP 1. Match the if-clauses with the correct main clauses.

if-clauses 1. If you have dreams, ... 2. If I ever felt I had too much money, ... 3. If I'd known that they were valuable antiques, ... 4. If I didn't behave well, ... 5. If I were single with no kids and no responsibilities, ... 6. If I had to choose one sport I couldn't live without, ... Main clauses a) I didn't get any pocket money. b) it would have to be football. c) I'd give it away to charity. d) I'd take a year out and go travelling. e) I would've kept them. f) money makes them possible. 2. Work in groups. Discuss the following situations.

If you governed your country ... a) where would you build your palace? b) what laws would you change? c) what new laws would you bring in? d) what would you spend most money on? e) what would you tax? f) what would you ban? g) who would you appoint as your ministers? h) what would you have named after you?

a. Does it matter if a wife earns more than her husband? 47

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3. Complete the sentences to make them true for you. Discuss your sentences with a partner.

a) If I'd been born in a different country ... b) If I'd been born a member of the opposite sex ... c) If I'd had famous parents ... d) If I'd started learning English earlier in my life ... e) If I'd listened to my parents advice when I was younger ... f) If I hadn't come to this English class today ... TREASURED POSSESSIONS LISTENING 1. T 10 Four people (Armando, Katie, Heather, Mike) are talking about their treasured possessions. Listen and match the possessions (a–d) with the notes about the stories (1–4).

1. Armando's typewriter 2. Katie's wedding ring 3. Heather's neck-warmer 4. Mike's mobile phone

__How old is it? __How long have you had it? __Did somebody give it to you or did you acquire it yourself? __What special significance does it have? __Did it belong to somebody else before? __Does it remind you of a particular person? Who? __Does it remind you of a time or an event in the past? __What happened? __Where do you keep your treasured possession? __Do you wear it, carry it around with you or does it have a special place in your home? __Who will you leave it to when you die? Block 2 PEOPLE AND THEIR MONEY (1) LANGUAGE IN CONTEXT EXPRESSING QUANTITY

a) mother – don't wear it – bedside table – remember – England b) expensive – e-mail – addresses and numbers – three hundred people c) father's – composer and storyteller – Peruvian jungle – ten years – wrote d) saved life – avalanche – over face – mouth and nose – breathe 2. Listen again. Then work with a partner and try to reconstruct the stories using the notes in 1. SPEAKING Think about your most treasured possession. You are going to tell your partner about it. Choose from the following list the things you want to talk about. Think about what you will say and the language you will need.

__What is your most treasured possession? __What's it made of? 49

1. Work in two groups. You will read a newspaper article about the same person. The information is similar, but not the same. Group A Read this article. Group B Read the article in File 4. Then answer the questions.

WOMAN WHO LEFT ENGLAND PENNILESS IS NOW WORTH £20 MILLION8 A British woman, who went to Australia with very little money four years ago, has sold her business for £20 million. Cherry Haines, 39, who once worked as a market stallholder, made all of her fortune from marketing a new kind of make-up. She left England because there wasn't much employment, caught a flight to the other side of the world, and arrived with no qualifications and very few friends. 'The flight took every penny I had. At first, I stayed with a friend. Then I had a bit of luck.' The friend gave her the name of Peter 50

Maddox, an Australian, businessman. 'I rang him and told him I was the best salesperson in England and that he should give me a job.' He liked her idea for a kind of make-up that stays on the whole day, so together they formed a company to market it. At first, she wasn't earning much, but soon she was getting over A$200,000 a year. 'Hard work means happiness to me,' she said. Her brother, Roger Haines, who is spending three weeks with her in Brisbane, said, 'She left school when she was 16. She had hardly any work experience. But she could sell a fridge to an Eskimo. She's amazing!' 1. How much money did she have when she left England? 2. When did she leave England? 3. How much has she sold her business for? 4. Why did she leave England? 5. Did she have any qualifications? 6. Did she have many friends? 7. How much did she pay for her flight? 8. How much did she earn at first? 9. How much did she earn later? 10. How long is her brother staying with her? 11. What did he say about her work experience? 2. Find a partner from the other group. Compare your answers. Notice how quantity is expressed in different ways: very little money – just £5. 3. The teacher will draw two columns on the board like the table below. Go to the board and write in the expressions from the newspaper articles.

Expressions of quantity very little money a few years all of her fortune…

Actual quantity just £5 four years

Which expressions of quantity mean the same? How are they used differently? 51

Grammar Questions: a. Why do we say ... ? very little money but a few years not much employment but weren't many jobs b. Is this rule correct? We mainly use much and many in questions and negative sentences. c. Who is happier, A or B? A: I have few friends. B: I have a few friends. d. She had hardly any work experience. Does this mean she had work experience? a) no c) a little b) little d) a lot of 4. Close your books. Retell the story.

Block 3 PEOPLE AND THEIR MONEY (2) LANGUAGE IN CONTEXT

RELATIVE CLAUSES, PARTICIPLES, AND INFINITIVES

1. Read the text about Bill Gates, his company, Microsoft, and his house in Seattle. There are gaps in the text. Fill the gaps with a clause below. Write a number 1–16.

1) discussing the plots and swapping opinions 2) why Microsoft has been so successful 3) he fancied 4) of which he owns 39 % of the shares 5) whose software is used 6) estimated at £18 billion 7) overlooking Lake Washington 8) he can't afford 9) leaving his wife behind 10) what to do 52

11) that he's packed with high-tech gadgetry 12) that can be run by clicking on icons 13) encoded with their personal preferences 14) who is now a very successful businesswoman 15) that allows him 16) which put him among the top ten students

THE MAN WHO COULD BUY ANYTHING9 Bill Gates is the richest private citizen in the world. There is nothing (a) … . Every morning, when his alarm clock goes off, the software tycoon is $20 million richer than when he went to bed. His wealth is based on his company, Microsoft, (b) … . He has a personal fortune (c) … , which is more than the annual economic output of over a hundred countries. He is not shy about spending it. He has built a mansion (d) … (e) … and TV monitors, some taking up an entire wall. Visitors are given a smart card (f) … , so that, as they wander from room to room, their favourite pictures will appear on the screens, and the music they like will play. The card is programmed so that only the most intimate friends can open all the doors. This cold-blooded approach to human relationships also seems to be true of his love life. When he went out with an ex-girlfriend, Ann Winblad, (g) … , the couple conducted much of their relationship by going on virtual dates. Each would drive alone to the same movie at the same time in different towns, and then talk about it afterwards on their mobiles, (h) … . When finally he got married, he and his wife, Melinda, signed a prenuptial agreement (i) … to go on an annual holiday with his ex-lover, Ann,(j) … . Gates has been called 'King of the Nerds', but this simply isn't fair. In the ninth grade at school, he got A's in all the subjects he took, (k) … in the nation. Gates went on to Harvard University, where he managed to be in the same class as the girls (l) … by inserting a piece of software into the college computer. But he never finished college. When he left, he knew exactly (m) … . He started up his own computer company. The reason (n)... is because Gates saw that his fortune lay in software, not hardware. He became a billionaire at 31, and since then 53

Microsoft has created Windows, which is a system (o) ... with a mouse. Now the multi-billionaire, (p) ... in two-thirds of the world's computers, is developing the HPC, or hand-held personal computer. It is his intention that there should be a computer in the pocket of everybody in the whole world. 2. Answer the questions.

1. How wealthy is Bill Gates? 2. How much does he earn a day? 3. What is special about his house? 4. What is unusual about his relationships with women? 5. What did he do to the computer at Harvard? 6. What is the secret of his success? 7. What is Windows? Block 4 WINNING THE LOTTERY SPEAKING Work with a partner and answer these questions:

1. What are considered lucky charms in your country? What is considered unlucky? 2. Have you got a lucky charm? Are you lucky? Have you ever won anything? If so, what? 3. Do you play your country's national lottery? If you do, how do you choose your numbers? What's the most you've ever won? If you don't play, why not? 4. What would you do if you won in the lottery? READING 1. Read the article by Carinthia West, which was published in Tatler magazine. (Tatler is a British magazine which contains articles on high society; which restaurants to eat in, the right people to meet, and the most fashionable clothes to be wearing). Answer these questions:

1. How does the writer usually choose her lottery numbers? 54

2. Where is Carinthia from? Where had she been for the weekend? 3. Which do you think is the best subtitle for the article? Life is unfair Dreams can come true Hitting the jackpot 2. Compare your answers with a partner.

HOW I WON THE LOTTERY10 (and also managed to top up the money by selling my story to the Tatler) 1. Winning the Lottery is one of those things that only happens to other people. That's what I thought as I peered yet again at the winning numbers published in The Mail on Sunday and then once more at the ticket stub clenched in my hand. I might have been in a front-row seat on the Centre Court, so fast was my head flicking between the two, checking over and over again the fact that I held the winning numbers in my hand. It couldn't be true, but it was. I had picked five of the six Lottery numbers. I had hit the jackpot! I let out what can only be described as a bloodcurdling war whoop – and then remembered where I was. I was sitting in the 23rd row of the 3pm Isle of Wight ferry, heading back to London after a jolly weekend. The day before, I had popped into a Spar supermarket just outside Ryde for some milk. I had been in a hurry, but my eye caught the Saturday Lottery display at the entrance to the shop, and having only seconds to spare, I abandoned my usual tactic of waiting for numbers to float down to me by divine inspiration ('Carinthia,' booms an Olympian voice, 'I see a 10, a 24, and possibly a 36'), or even that old standby of my birthday, the ideal age for a partner, my bra size, the number of my godchildren, and so on, and just dashed off the first six numbers my pen touched (for the record: 4, 11, 14, 30, 32 and 43). The ticket went into the pocket of my coat, and I forgot about it. 2. So there I sat on the ferry, scrabbling about for my gloves, when my fingers touched the ticket. With nothing better to do than read about some Spice Girl and her new sporting 'friend', I turned to the page with the numbers published on it. Cue the war whoop. 55

3. Seventy passengers in anoraks and baseball caps turned to stare. I was about to shout 'I've won the Lottery!' when I realised how easy it would be for me to go overboard. I could see the headlines: 'Mysterious drowning off Portsmouth ferry. Seventy strangers share Lottery Win'. Suddenly, perfectly ordinary people turned into a snarling pack of wolves. My war whoop tailed off and I tried to pretend that I'd read something frightfully funny in the newspaper (this is rather hard when you are reading The Mail on Sunday), and I subtly transferred the ticket (by now burning in my hand like green kryptonite) to a position of safety under my bottom. 4. I was still 20 minutes from port, and you never know what might happen. It's amazing what the mind can do. Five minutes earlier, I was your regular law-abiding citizen. Now I was plotting like a hardened criminal, prepared to protect that piece of paper and already planning spending sprees in Harvey Nicks, dawn raids on Hermes and Gucci, and Gulfstream getaways to Rio. 5. But you know what girls are like. I had to tell someone, and I knew exactly who. My mobile phone, amazingly, works in the middle of the Solent (but not at Hyde Park Corner), so I rang my friend Mr Evans in Wales. I wanted to know how much I'd won, and he studies Lottery wins assiduously. I slunk furtively down behind my paper and whispered my amazing news. 'Five numbers, is it, Cariad?' he said in his lilting Welsh voice. 'Just a minute, while I look it up.' He was gone long enough for more visions to flit through my mind: Lear jets this time, and top-of-the-range Mercedes and summer homes in Sardinia. 'Are you sitting down?' he said when he returned, sounding super-excited. 'You lucky girl, you've won £1,700. Think what you can do with that.' He went on to explain that because the bonus ball was included in my winning five I'd just missed the £14 million jackpot, but he was sure I was on a winning streak and it was only a matter of time before I would win 'the Big One'. 6. When I lived in Los Angeles in the Eighties and people talked about 'the Big One', they meant the giant earthquake that was due to hit. I felt as if I'd been hit by it as I switched off the mobile phone and sensed the smile slipping off my face. The green kryptonite stopped burning and began to feel like an uncomfortable, crumpled bump

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underneath me – and the other passengers started reaching for their bags and giving me a wide berth. 7. My ship was coming in, all right, but holed beneath the waterline, covered in barnacles, and with the rigging looking like something out of a bodice-ripper. I felt a bit silly. My shining hour was gone, my coach had turned into a pumpkin, and although £1,700 is not to be sneezed at, there will be no BMW for me – more like a BMX – and the diamond-encrusted Cartier collar for my new Border collie will have to wait. 8. Oh, well, I'm still the only person I know who's ever won the Lottery. And anyway, 'spend-spend-spend Carinthia' just doesn't sound quite right. 3. Work with a partner. Discuss these questions:

1. How did she feel when she found out that she had won? And when she found out how much she had won? 2. What would she have spent the money on if she had won the jackpot? Would you have bought the same things? 3. What do you think she will buy with the money she did win? What would you do with that amount of money? 4. What do you think Carinthia is like? What social class do you think she belongs to? Why? LEXIS 1. The writer assumes the reader has the same background knowledge as herself. Do this quiz and see how much you have in common with Carinthia.

QUIZ

1. The Centre Court (paragraph 1) refers to ... a) an important court of law. b) a famous theatre. c) a tennis court at Wimbledon. 2. A Spice Girl (paragraph 2) is ... a) a girl who likes excitement. b) a member of the pop group 'The Spice Girls'. c) a female British spy.

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3. Green kryptonite (paragraph 3) is ... a) a type of Indian food. b) the only effective weapon against Superman. c) explosive material. 4. Harvey Nicks (paragraph 4) is ... a) an expensive department store in London. b) a burger bar. c) a village near London. 5. The Solent (paragraph 5) is ... a) the water between the Isle of Wight and the British mainland. b) the centre of British telecommunications. c) a place on a ferry. 6. My coach had turned into a pumpkin (paragraph 7). Here the writer is ... a) talking about vegetables. b) referring to the story of Cinderella. c) referring to a common problem people have with their coaches. 7. A BMX (paragraph 7) is... a) a cheap version of the BMW. b) a train service. c) a bike. 8. A Border collie (paragraph 7) is ... a) a designer shirt. b) a breed of dog. c) a woman who helps with the cooking and cleaning. 2. Check your answers (File 5). 3. The writer uses a selection of descriptive verbs. Find the verbs in the text which mean:

a) to look at very closely (paragraph 1) b) to hold very tightly (paragraph 1) c) to move in a disorganised manner (paragraph 3) d) to become less or die down (paragraph 4) e) to move quietly and secretly (paragraph 6) f) to move quickly (paragraph 6) g) to leave quietly or slowly (paragraph 7) 58

4. Which verbs in 3 can involve

a) the eyes? b) the hands? c) the whole body? d) the voice? 5. Use the verbs in 3 in an appropriate form to complete these sentences.

1. When he noticed his ex-wife come into the room, he ____ back into the corner and hoped she wouldn't spot him. 2. The teacher threw a handful of sweets up into the air and the children, squealing with delight, ____ trying to get as many as possible. 3. He ____ early last Friday without telling the boss. 4. She ____ her fists until her knuckles turned white. 5. The supporters' shouts of excitement ____ as the other team scored the winning goal. 6. I have a very nosy neighbour. She's always ____ over the fence to see what I'm doing. 7. At the party she _____ from one room to the other like a butterfly. 6. Tell your partner about the last time you did two of the actions in 5. CLOSE UP UNREAL CONDITIONALS

1. T 11 Listen to a conversation between Sarah and Angela, who have just read Carinthia's article. Answer these questions:

1. Which parts of the article did they enjoy in particular? 2. Do they play the lottery? 3. Has either of them ever won anything? 2. Compare your answers with a partner.

3. Look at these extracts from the conversation and complete the sentences.

EXTRACT I Sarah: ... it's a good story. Angela: Yeah, and all that stuff about what (1)____if (2)____ 'the Big One'. Sarah: Yeah, I really like that bit about how (3)____her dog's life, like (4)____a diamond-encrusted collar right now ... Angela: Nah, I think it's more likely that (5)____a snazzy little red sports car! EXTRACT 2 Sarah: I got really close to winning once. If (6)____my brother's birthday instead of mine (7) ______ . Angela: How much (8) ______ if (9)____? Sarah: Oh, millions no doubt! I (10)____a new house, a car, a luxury yacht and I (11)____as a secretary any more, I can tell you! 4. Listen again and check your answers. 5. Work with a partner and answer the questions below.

EXTRACT 1 a. Is a real or an unreal situation being described? b. Find one possible past result of the situation. c. Find two possible present results. EXTRACT 2 a. Is a real or an unreal situation being described? b. Find one possible past result of the situation. c. Find one possible present result. 6. Write out the correct form of the verbs in brackets.

a) If I____(stay in) last night, I____ (be) so tired today. b) If I____(not/work) late last night, I____(go) to the cinema. c) If I ____(go) to bed earlier, I____(not/get up) so late. d) If I____(sleep) a little bit more, I____ (not/yawn) now. Look at the sentences again. What other modal verbs can you use instead of would?

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7. Are any of the sentences in 6 true for you? If not, change them to make them true and compare your sentences with a partner.

CLOSE UP 1. Look at these sentences from the recording and answer the questions which follow.

1. I'd rather they actually did something to earn the money. 2. I think it's high time the government did something about it because it really is annoying.

Block 5 CHARITY SPEAKING AND LISTENING

Have you given money to anybody on the street recently? If not, do you ever give money? SPARE CHANGE 1. T 12 Listen to six people talking about giving money to people in the street. For each person answer these questions:

a. What tense is used after I'd rather and it's high time? b. Are the speakers talking about real events which have actually happened or a desired situation? c. Can you think of other occasions where the past simple is used to talk about unreal events or desired situations? 2. Add Jack to the following sentences where there is an asterisk. What changes do you have to make to the verbs?

a. I'd rather * pay for dinner. b. I'd rather * not work at the weekends. c. I'd rather * clean the house.

a. Do they give money to people in the street? b. If yes, who do they give money to? If they don't, why not? Speaker 1 2 3 4 5 6

Give money?

Why/Why not?

no

3. Complete these sentences with an appropriate verb.

might spend it on alcohol

a. It's about time people ____ expecting others to look after them.

2. Compare your answers with a partner. Do you agree with any of the speakers' views? 3. Work in small groups and discuss these questions:

a. Is begging prohibited in your country? b. Do you often see people asking for money on the streets in your town or in other towns in your country? c. What do you think is the best way to help people who ask for money on the streets?

b. It's high time these young people ____ jobs and started earning a living. c. It's time we ____ giving more generously to charity. d. I'd rather the government ____ the responsibility for looking after the poor. I pay enough in taxes. e. I'd rather people ____ something concrete to help instead of just paying out money to ease their consciences. f. I'd rather local authorities ____ money on helping local youth clubs or improving leisure facilities for young people than redeveloping old buildings. 4. Complete these sentences with your own opinions.

a. It's about time ... b. It's high time ... c. I'd rather ... 5. Compare your opinions with a partner.

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RATHER YOU THAN ME 1. Work with a partner. Look at the sentences and answer the questions which follow.

1. Do you know that girl, or rather, that woman, who's just started working in our office? 2. She looked rather like a Christmas tree with all those bangles and sequins. 3. It was a bit of a disappointment. I'd rather have seen the Tom Cruise film actually. 4. I was quite scared. He was driving rather too quickly for my liking. 5. I didn't really want to say anything but I did think it was a rather odd suggestion. 6. I reckon it's rather a strange situation if the truth be known. 7. Oh don't you? Really? I must admit I rather think she was telling the truth. 8. It's better to look at it as a challenge rather than a problem. 9. I'd rather not have gone to my in-laws' for Christmas, but my husband insisted. 10. You're going to do a parachute jump? Rather you than me! I'd be absolutely terrified! In which sentences are the speakers

a) expressing regret? b) expressing a preference? c) including a correction? d) making a comparison/contrast? e) expressing an opinion? 2. What do you think the expression Rather you than me means? 3. Add rather to these sentences.

a. It was late when we got home so I didn't return your call. b. The new art gallery looks like a spaceship. c. Well, actually, I like the idea of getting some pizzas and just watching TV. 63

d. I didn't really enjoy it; we walked too far for my liking and I was pretty stiff the next day. 4. Rewrite the following sentences using an expression with rather.

a. You mean you had to do five three hour exams! I'm glad it wasn't me! b. I far prefer to watch a film than read a book for relaxation. c. They asked us, or actually I mean, forced us to work overtime at weekends. d. I wish I'd gone to bed early last night instead of having visitors. e. I would have preferred to stay at home, but I had no choice in the matter. f. I much prefer doing something cultural on holiday instead of just lying on a beach. 5. Complete these sentences in three different ways that are true for you.

a. I rather like ... b. I'd rather (not) have ... 6. Compare your sentences with a partner. CHARITY BEGINS AT HOME 1. Work in small groups. Discuss these questions:

a. How can people help charity? b. What things do people do to raise money for charity? c. What kind of events raise the most money? d. Have you ever done anything to raise money for charity? LISTENING 2. T 13 Listen to three friends, Daniel (a Canadian), Sue and Jake, talking about doing things to raise money for charity. As you listen, note down answers to these questions:

a. Do they mention any of the ways of raising money you talked about in your discussion? b. Have any of them ever taken part in a charity event? 64

c. What other ways of raising money do they mention? d. Do they agree on what is the best way of raising money? e. What problems and doubts do they discuss? 3. Compare your notes with a partner and discuss the questions that follow.

Which of the three, Sue, Jake or Daniel (the Canadian): a) seems to feel passionately about the need to contribute to charity? b) is the most doubtful about the value of charity events? c) is the most aggressive in his/her manner of speaking? d) tries to defend the point of view of one of the other speakers? e) is often unable to get a word in? f) seems to be the most well-informed? g) seems to get a little hesitant and defensive? h) seems to be the most opinionated? 4. Listen again and read the tapescript (File 9). Find phrases which support your answers. 5. Compare your answers with a partner. LEXIS 1. Complete these extracts from the conversation.

a) ... as far as I know, it seemed to, you know, do the trick … it seemed to r____ quite a lot of money. b) ... they get the money that you, you know, you get s____ by people… c) But. wouldn't it be more sensible to do something you know with a, with a purpose, like c____ money for food or … d) ... you can generate more money with a, with a larger e____ than you can with just going d____ t____ d____... e) ... the charity's got to get a p____, haven't they, so they won't get photos in the paper unless you've got some c____ . f) The alternative is that maybe a lot of homeless people g____ h____ if somebody doesn't do something ...

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g) I mean, this is just to make you f____ g____ a____ yourself. h) ... you can actually press a button and d____ a cup of rice ... 2. T 14 Listen and check your answers. 3. Use your answers to 1 to complete these questions:

a. Have you ever helped ____ money for charity? b. If you have, was it a ____ event like a parachute jump or a marathon? c. Were there any ____ present to give the ____ a higher profile? d. Did you go around ____ money from people's houses____? e. If you haven't helped a charity like this, is it because you've never had the opportunity? Or do you agree with Jake that people only do these things to _____ themselves? 4. Discuss the questions with your partner. ALL IN A GOOD CAUSE SPEAKING 1. Work in small groups. You have been asked to organise a fund-raising event. Consider the points below. Who the money is going to

• Will it be a local charity? • An international organisation? • Or maybe a country or group of people which is in particular need at the moment? • Why have you decided to help this particular cause? The kind of event you're going to organise • Will it be a sponsored sports event? • If so, what kind of sport? • Or will it be some kind of cultural event? • Maybe a film show or a play or a concert. What will you do exactly? • Why have you decided on this kind of event? 66

Who you're going to invite • Are you going to invite any celebrities or local dignitaries? • If yes, who? Why? The practicalities • Decide on the date, the time and the venue. 2. Prepare to present your ideas to the class.

a. Nominate a spokesperson. b. Help the spokesperson to prepare a presentation following the structure given below: 1. Explain who you are raising the money for and why you chose this cause. 2. Explain what kind of event you're going to organise and why you chose this kind of event. 3. Explain the practicalities. 4. Invite your audience to be generous in their support and answer any questions they may have. LANGUAGE TOOLBOX PRESENTING IDEAS

I'm here to ... Basically, we believe that... Our first priority is to ... The main issue here, I'm sure you'll agree, is ... I'm sure you'll agree that... As you can see, we've given this matter a lot of thought and ... So, to sum up ... I'd like to take this opportunity to ... And to close I'd just like to ask you to ... 3. Which group presented

a) the most original fund-raising idea? b) the most practical fund-raising idea?

Part II. MONEY THROUGH ECONOMICS MONEY AND ITS QUALITIES∗ Read the text and complete the tasks.

MONEY AND ITS QUALITIES Money can be anything that is generally accepted in payment for goods or services. Almost every society now has a money economy based on coins and paper notes of one kind or another. However, this has not always been true. In primitive societies a system of barter was used. Barter was a system of direct exchange of one good or service for another. Somebody could exchange a sheep, for example, for anything in the market-place if they considered to be of equal value. Barter, however, was a very unsatisfactory system because people's precise needs seldom coincided. People needed a more practical system of exchange, and various money systems developed based on goods, which the members of a society recognized as having value. Cattle, grain, teeth, shells, feathers, skulls, salt, elephant tusks and tobacco have all been used. Precious metals gradually took over because, when made into coins, they were portable, durable, recognizable and divisible into larger and smaller units of value. A coin is a piece of metal, usually disc-shaped, which bears lettering, designs or numbers showing its value. Until the eighteenth and nineteenth centuries coins were given monetary worth based on the exact amount of metal contained in them, but most modern coins are based on face value, the value that governments choose to give them, irrespective of the actual metal content. Coins have been made of gold (Au), silver (Ag), copper (Cu), aluminium (Al), nickel (Ni), lead (Pb), plastic, and in China even from pressed tea leaves. Nowadays however valuable metal has generally been replaced by paper notes. The use of paper money in Western civilization began in the Middle Ages. The major forms of money in those days, gold and silver coins, were inconvenient to carry and liable to be stolen. ∗ To get more information on the history of money see SUPPLEMENTARY TASKS: Block 6 (p. 64).

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To make business transactions safer and more convenient, people began depositing their coins with local goldsmiths, who gave them a written receipt in exchange for the coins. In this way, the goldsmith became a kind of medieval banker. Merchants accepted the receipts in payment for goods because they could redeem the receipts for gold at the goldsmith's shop. In time, the goldsmiths' receipts became very popular with merchants and travelers who had to move large sums of money. As their use spread, the earliest form of paper money in Western Europe came into being. Now most governments issue paper money in the form of notes, which are really 'promises to pay'. It may or may not be backed by gold or silver. Paper money is obviously easier to handle and much more convenient in the modern world. Cheques, bankers' cards, and credit cards are being used increasingly and it is possible to imagine a world where 'money' in the form of coins and paper currency will no longer be used. Although anything can serve as money, it should possess the following qualities: • Stability. The value of money should be more or less the same today as tomorrow. In societies where the value of money fluctuates (goes up and down) people will hoard it in the hope that its value will increase, or spend it immediately thinking it will be worth less tomorrow. Either action could be harmful to the economy. • Portability. Modern money has to be small enough and light enough for people to carry. Bowling balls would not be a practical form of money. • Durability. The material chosen has to have a reasonable life expectancy. For that reason most countries use a very high quality paper for their money. • Uniformity. Equal denominations of money should have the same value. It's easy to see that if some quarters or dollar bills were worth more than others, things could be pretty confusing. • Divisibility. One of the principal advantages of money over barter is its ability to be divided into parts. In other words, while making change for a dollar is easy, making change for a chicken is more difficult. 69

• Recognizability. Money should be easily recognized for what it is and hard to copy. The quality of the paper and the engravings make paper money extremely difficult to counterfeit. (from 'Applied Economy', 'Streamline. Destinations') 1. Add a prefix to the adjectives below to give each an opposite meaning:

equal, direct, reasonable, convenient, possible, popular, satisfactory, respective. 2. Write down the word families of the following words:

uniformity, divisibility, recognizability, stability, portability, durability. 3. What words have the opposite meaning to:

advanced, often, reject, different, decrease, easily. 4. What words correspond to these definitions:

1) to happen at the same time, to be in agreement __________ 2) of the period in history between about 1100 and 1500 ___________ 3) worker who makes articles of gold __________ 4) written statement that something has been received ____________ 5) easily seen or understood ___________ 6) at once, without delay ___________ 5. Can you explain the following:

1) liable to be stolen: Coins, were inconvenient to carry and liable to be stolen. 2) redeem: Merchants accepted the receipts in payment for goods because they could redeem the receipts for gold at the goldsmith's shop. 3) spread: As their use spread, the earliest form of paper money in Western Europe came into being. 4) handle: Paper money is obviously easier to handle and much more convenient in the modern world. 70

5) issue: Now most governments issue paper money in the form of notes 6) life expectancy: The material chosen has to have a reasonable life expectancy. 7) advantage: One of the principal advantages of money over barter is its ability to be divided into parts. 6. Substitute the words in italics with the words from the text with the same meaning. Translate the sentences into Russian:

1. The earliest form of paper money in Western Europe came into existence in the Middle Ages. 2. Because of the quality of the paper and the engravings it is utterly difficult to fabricate money. 3. A coin usually carries lettering, designs or numbers showing its value. 4. Traders and travelers preferred the goldsmiths' receipts to moving large sums of money. 5. With the goldsmiths' receipts business deals became safer and more convenient. 6. Valuable metals took over because of their qualities. 7. Either immediate spending money or accumulating it could be hurtful to the economy. 7. Choose the correct prepositions and make sentences of your own as examples:

irrespective from/of to deposit money with/from a bank in exchange on/for to make change for/from to divide on/into in payment of/for 8. Underline the Past Participles and translate the following into Russian:

1. Almost every society now has a money economy based on coins and paper notes of one kind or another.

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2. People needed a more practical system of exchange, and various money systems developed based on goods, which the members of a society recognized as having value. 3. Precious metals gradually took over because, when made into coins, they were portable, durable, recognizable and divisible. 4. Until the eighteenth and nineteenth centuries coins were given monetary worth based on the exact amount of metal contained in them. 5. Coins have been made … even from pressed tea leaves. 6. The material chosen has to have a reasonable life expectancy. 9. Using the text change Active into Passive:

Example: People accept money in payment for goods and services. – Money is accepted in payment for goods or services. 1. In primitive societies people used a system of barter. 2. People have used cattle, grain, teeth, shells, salt, elephant tusks and tobacco as money. 3. Until the eighteenth and nineteenth centuries people gave coins monetary worth. 4. People have made coins from gold (Au), silver (Ag), copper (Cu), aluminium (Al), nickel (Ni), lead (Pb) and plastic. 5. Nowadays paper notes have generally replaced valuable metal. 6. Governments may or may not back money by gold or silver. 7. People are using cheques, bankers' cards, and credit cards. 8. It is possible to imagine a world where people will no longer use 'money' in the form of coins and paper currency. 10. Answer the questions:

What is money? How are goods exchanged in a barter economy? Why was barter an unsatisfactory system? Why did precious metals take over? What is a coin? What is 'face value' of money? What is the history of paper money in Western civilization?

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Why can we say the goldsmith became a kind of medieval banker? Why did merchants accept the receipts of goldsmiths in payment for goods? Can you imagine a world without money in the form of coins and paper currency? Why? What qualities should money possess? 11. Read the text below. Use the word given in capitals at the end of each line to form a word that fits in the space in the same line. There is an example at the beginning (0).

MONEY

11

Before the (0) invention of money, people used to get INVENT the goods and services they wanted by (1)_____things SWAP with others. This system was entirely (2)_____on an DEPEND (3)_____between both people, who each needed to AGREE have what the other wanted. The system of (4)________ started to work much more CHANGE smoothly with the (5) _______of money. By using precious INTRODUCE metals, which had been (6)_______weighed and made OFFICIAL into coins, it (7) _______possible to sell what you produced COME in return for coins, then use the coins to buy (8) ____ ANY you wanted from a third party. Some societies have developed (9)________substitutes ACCEPT for coins by using things which, in (10)_____, have a REAL fixed value such as salt or cigarettes. 12. IMITATION: you found yourself in the society that didn't have money system. Describe your imaginary experience.

MONEY AND ITS FUNCTIONS∗ READING 1. Look at the main heading and say what you expect the text to be about. 2. Summarise the first function of money. 3. Summarise the second and third functions of money. 4. Summarise the fourth function of money. 5. How many different kinds of money are there? Now read the passage through and find the answers to those questions. Remember, you do not have to understand every word to answer them.

MONEY AND ITS FUNCTIONS12 Money has four functions: a medium of exchange or means of payment a store of value, a unit of account and a standard of deferred payment. The Medium of Exchange When used as a medium of exchange, money is considered to be distinguished from other assets. Money as the medium of exchange is believed to be used in one half of almost all exchange. Workers exchange labour for money, people buy or sell goods in exchange for money as well. People do not accept money to consume it directly but because it can subsequently be used to buy things, they wish to consume. Money is the medium through which people exchange goods and services. To see the advantages of a medium of exchange, imagine a barter economy, that is, an economy having no medium of exchange. Goods are traded directly or swapped for other goods. The seller and the buyer each must want something the other has to offer. Each person is simultaneously a seller and a buyer. ∗ For comprehensive examination of the topic see SUPPLEMENTARY TASKS: Block 7 and Block 8 (p. 66, 69).

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Trading is very expensive in a barter economy. People spend a lot of time and effort finding others with whom they can make swaps. Nowadays, there exist actually no purely barter economies, but economies nearer to or farther from the barter type. The closer is the economy to the barter type, the more wasteful it is. Serving as a medium of exchange is presumed to have for centuries been an essential function of money. Other Functions of Money The unit of account is the unit in which prices are quoted and accounts are kept. In Britain, for instance, prices are quoted in pounds sterling; in France, in French francs. It is usually convenient to use the same unit to measure the medium of exchange as well as to quote prices and keep accounts in. However, there may be exceptions. During the rapid German inflation of 1922–23 when prices in marks were changing very quickly, German shopkeepers found it more convenient to use US dollars as the unit of account. Prices were quoted in dollars though payment was made in marks. The same goes for Russia and other post-communist economies that used the US dollar as a unit of account, keeping their national currencies as means of actual payment. The higher is the inflation rate, the greater is the probability of introducing a temporary unit of account alongside the existing units for measuring medium of exchange. Money is a store of value, for it can be used to make purchases in future. For money to be accepted in exchange, it has to be a store of value. Nobody would accept money as payment for goods supplied today if the money was going to be worthless when they tried to buy goods with it tomorrow. But money is neither the only nor necessarily the best store of value. Houses, stamp collections, and interest-bearing bank accounts all serve as stores of value. Finally, money serves as a standard of deferred payment or a unit of account over time. When money is borrowed, the amount to be repaid next year is measured in units of national currency, pounds of sterling for the United Kingdom, for example. Although convenient, this is not an essential function of money. UK citizens can get bank loans specifying in dollars the amount that must be repaid next year. Thus, the key feature of money is its use as a medium of exchange. For money to be used successfully as a means of exchange, 75

it must be a store of value as well. And it is usually, though not always, convenient to make money the unit of account and standard of deferred payment. Different Kinds of Money In prisoner-of-war camps, cigarettes served as money. In the nineteenth century money was mainly gold and silver coins. These are examples of commodity money, ordinary goods with industrial uses (gold) and consumption uses (cigarettes) which also serve as a medium of exchange. To use a commodity money, society must either cut back on other uses of that commodity or devote scarce resources to producing additional quantities of the commodity. But there are less expensive ways for society to produce money. A token money is a means of payment whose value or purchasing power as money greatly exceeds its cost of production or value in uses other than as money. A $10 note is worth far more as money than as a 3×6 inch piece of high-quality paper. Similarly, the monetary value of most coins exceeds the amount you would get by melting them down and selling off the metals they contain. By collectively agreeing to use token money, society economizes on the scarce resources required to produce money as a medium of exchange. Since the manufacturing costs are tiny, why doesn't everyone make $10 notes? The essential condition for the survival of token money is the restriction of the right to supply it. Private production is illegal. Society enforces the use of token money by making it legal tender. The law says it must be accepted as a means of payment. In modern economies, token money is supplemented by IOU money. An IOU money is a medium of exchange based on the debt of a private firm or individual. A bank deposit is IOU money because it is a debt of the bank. When you have a bank deposit the bank owes you money. You can write a cheque to yourself or a third party and the bank is obliged to pay whenever the cheque is presented. Bank deposits are a medium of exchange because they are generally accepted as payment.

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A. CHECK YOUR UNDERSTANDING Now read the text carefully, looking up any new items in a dictionary or Vocabulary notes below. Then answer the following questions:

1. Why do people accept money? 2. How are goods exchanged in a barter economy? 3. Why is trading expensive in a barter economy? 4. What is the unit of account in your country? 5. When did Germany not use its own currency? 6. What else does the writer say can be used instead of money as a store of value? 7. What does the writer mean by 'standard of deferred account'? 8. Explain in your own words what 'token money' means. 9. When are people unwilling to accept their own currency? 10. What example of IOU money does the writer give? – Why do you think goods are actually more expensive if the means of payment are different from the units of account? – What measures can a seller take if money does not fulfill its function as a store of value properly? Vocabulary notes:

distinguish v (smth from smth) – отличать, различать (одну вещь от другой); (between things) – проводить различие (между двумя вещами) trade v – 1. (in smth with smb) торговать (чём-л. с кем-л.); 2. (smth for smth) обменивать (что-л. на что-л.) B. INCREASE YOUR VOCABULARY 1. Look at the text again.

a) What words have the same meaning as: • without value • limitation • against the law b) What words have the opposite meaning to: • reject • is less than • public c) Can you explain the following: • accounts • medium of exchange • quoted

medium n (pl -dia) – средство, способ medium of exchange – средство обмена; средство обращения (как функция денег) exchange rate – обменный курс the exchange rate of rouble against US dollar – обменный курс рубля по отношению к американскому доллару means n (употребляется с глаголом в ед. или мн. числе) – средство, средства store of value – средство сбережения, средство образования сокровища; средство «сохранения стоимости» (как функция денег) unit of account – расчетная единица deferred payment – отложенный, отсроченный платеж

1. Pounds and ounces (унция) were traditional measures widely used in Britain, often (alongside / besides) metric measures before 2000. 2. Barter economies are believed to be more (convenient / wasteful) than the ones based on money. 3. We (distinguish between / accept both) real and nominal GNP. 4. (The exchange rate / barter) is known to be regulated by the Central Bank. 5. When measured, depreciation should be subtracted (вычитать) from the GNP to give a clear picture of the output that is (temporarily / actually) available for national consumption.

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2. Choose the correct variant:

6. Initially, gold and other valuable metals were used (to keep an account of / to store) wealth over time. 7. Large firms are supposed to have a better chance of obtaining a loan from a bank than smaller firms, though there may be (exceptions / exchanges). 8. Plastic cards are reported to be (accepted / deferred) for payment only in Moscow, St. Petersburg, Lipetsk, Chelyabinsk and a few other cities and there is no commonly (accepted / distinguished) standard. 9. Due to poor communications across the country and the high initial cost of introducing plastic cards, Russia (finally / temporarily) has a less developed plastic card infrastructure than most European countries.

C. FOCUS ON GRAMMAR 1. Find in Money and Its Functions:

1) sentences with the ... the ... (2); 2) conjunction for translating as «так как». The ... the ... – чем ... тем ... The more the better – Чем больше, тем лучше. for – 1 prep для, за, на; в течение 2) cj (после запятой) так как, потому что for example, for instance – например for + сущ. + инфинитив – для того, чтобы что-то было сделано

3. Fill in prepositions or conjunctions if necessary:

1. The more goods are swapped ... other goods and services, the more effort is wasted to find those ... whom these swaps can be made. 2. When Euro was first introduced, there was determined its exchange rate ... a number ... European currencies and the US dollar. 3. ... I960 and 1985, UK exports as a share ... the GNP is reported to have risen ... 20 percent ... nearly 30 percent. 4. Young families with children should be distinguished ... older families ... no children living ... home, for they have different demands. 5. We must distinguish... the supply... factors... production to the economy ... a whole and the supply ... factors to an individual firm or industry. 6. Exchange may take the form ... barter in which goods or services are traded directly ... other goods or services. 7. The firm is known to have been trading ... jewellery ... over a hundred years. 8. ... the exception ... the initial period ... their use, all British bank-notes were convertible ... gold until 1914. Convertibility ... a restricted basis existed as long as 1925, and finally was abandoned ... 1931. 9. Goods and services are sold ... money and the latter is in its turn exchanged ... other goods and services. 10. New forms... money are known to have been developed ... the development ... the banking system. 79

2. Translate into Russian:

1. The greater a person's income, the more he will usually buy. 2. The higher the labour productivity, the lower the production cost. 3. The higher is the demand, the higher can the price for the commodity be. 4. The greater is the number of sellers in a market, the better choice can a buyer make. 5. The more inelastic is the demand, the more will a tax fall on purchasers rather than sellers. 6. The higher the real wage, the more individuals the labour force comprises. 3. Choose the sentences with the Past Participles and translate them into Russian:

1. If decreased, input prices will make the production less expensive. 2. If kept accurately, accounts are easy to check. 3. If a man's assets have been found to be large, the banker believes his chances of repaying the loan to be high. 4. When deferred, the wage should be indexed, which is not actually done.

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5. When Brazil owed $123 billion to its creditors in 1991, the biggest debt in the Third World, its government negotiated (вести переговоры) another loan from the Inter-American Development Bank. 6. Although serving as an actual means of payment, the rouble is known to have been replaced by the US dollar as a unit of account in Russia in the 1980s and the 1990s. 7. Although swaps are widely made in less developed economies, they make economic mechanisms function more inefficiently. 8. When employed in a temporary job, workers are paid a lower wage. 4. Translate the sentences with the infinitives:

1. In some countries, such as post-communist Eastern Europe, foreign currency is known to be used alongside domestic currency. 2. If properly kept, accounts could have provided valuable financial information necessary to make decisions about the future of the company. 3. Capital, or property, should be distinguished from income received from that property during a given period. 4. The US administration is reported to be making efforts to eventually eliminate agricultural subsidies. 5. We know the exchange rate ceiling to have been imposed temporarily by the Central Bank of Russia for the period of reform in the mid-to-late 1990s. 6. The exchange of commodities between European countries is believed to have become more convenient and rapid due to Euro. Nowadays accounts for international trade are supposed to be kept in Euro rather than in national currencies. 7. The Central Bank must be keeping the exchange rate at a low level, or it would be much higher at present. 8. Enough essential foods must have been stored by the government to meet the needs of population in case of emergency (в случае крайней необходимости).

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5. Change the sentences using Complex Subject:

Example: It is known that money is accepted as a means of payment. – Money is known to be accepted as a means of payment. 1. It is known that travellers' cheques, credit cards or even prepaid telephone cards have been included in money by some economists. 2. It is believed that gold has for a long time been a convenient store of value. 3. It is reported that swaps of products and services are extensively used in underdeveloped countries. 4. It is known that the forms of capital are distinguished in various ways. 5. It is known that expensive objects of art are used alongside money as a store of value. 6. It was reported that Russian economy had become wasteful in the 1990s, for goods and services were directly traded for other goods and services without money. 7. It is reported that OPEC oil price increased from $2.5 per barrel in 1973 to nearly $15 per barrel in 1980. 6. Shorten the underlined subordinate clauses:

Example: Although swaps are widely used, they make an economy more wasteful. – Although widely used, swaps make an economy more wasteful. 1. When accounts are kept regularly and accurately, they may be a convenient tool of making a business more effective. 2. Although domestic currency is accepted as a medium of exchange, it is thought to be an inadequate store of value under conditions of hyperinflation. 3. When average wages are growing rapidly, they add to production costs considerably. 4. If an increase in average price level is rapid, it results in inflation. 5. Though labour is regularly supplied by households, it is never actually fully used. 6. When money is used as a store of value, it is saved for future consumption. 82

TOPIC EXPANSION 7. Match the parts to make completed sentences:

1. Classical economists considered money to be no more … 2. Money is an asset … 3. Money is used as a standard of deferred payment, … 4. Loans provided by commercial banks, building societies, etc. … 5. In addition to being a means of exchange money is also … 6. Swap in a money market is a process … 7. Exchange rate is … 8. GNPs are measured in the country's local monetary unit, … 9. The foreign exchange market is a market where foreign currencies are sold and bought … 10. Barter is a method of trading goods and services for other goods and services … a. either through private exchange dealers or a country's central bank. b. known to be a means of measuring the value of men's labour. c. of exchanging one kind of financial asset or liability for another. d. than a medium of exchange. e. or currency. f. for it is an accepted measure of future payments in contracts. g. without the use of money. h. the price of one currency in terms of some other currency, for instance, the price at which dollars might be exchanged for pounds. i. are an essential source of money for everyday consumption and purchase of personal and business assets. j. that is accepted as a means of payment. 8. Read the text and headline it.

basis of credit nowadays. When goods are supplied on credit, the buyer becomes the owner of the good at the time of delivery but he does not have to make payment at once. The buyer pays by installments (очередной взнос) within a certain period of time, for instance, three or even six months after delivery. When signed (подписывать), a special contract, usually referred to as 'hire purchase contract', lets the buyer make payments over several years. A complex system of consumer credit can only operate in a monetary economy. Sellers are not expected to deliver goods for promises of future payment in terms of any goods except money, for it will be difficult for them to say how much of which commodity they will need at which particular time in the future. If not required by the seller himself, the commodity received in payment may be difficult to trade for another one. Being a universal medium of exchange, money lets sellers rely on promises of payments in terms of money to be made in future. 9. Using the text above complete the following sentences:

1. Purchasing on credit, the buyer becomes the owner of the good when ... . 2. The difference between simple credit and hire purchase system is ... . 3. Consumer credit cannot exist in barter economies because ... . 10. Think and answer the questions:

1. Why isn't hire purchase system widely used in Russia nowadays? 2. Has hire purchase system been ever popular in this country? WRITING Brush up the topic (Money and its functions) and prepare for an essay The role of the money in the economy. Look at the Paragraph Plans for Argumentative Essays in File 3, choose one of the topic aspects (for example, a certain function of money) and write down an essay of one kind or another.

То serve as a means of deferred payment is an important function of money due to the fact that most business is transacted on the 83

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MONEY IN THE USA Read the text and retell it according to the plan:

We can say that money is anything that is commonly accepted in exchange for other goods and services. 1. Commodity money refers to the use of some commodity as money. American history reveals that tobacco, corn, beads, warehouse receipts, and bank notes, in addition to metal coin and paper currency, have served as money. In fact, many of these monies were given the status of legal tender, which means that they were acceptable, by law, for the payment of debts, both public and private. (U.S. currency is legal tender.) 2. Although the United States has had various types of commodity money in its history, all American currency today is in the form of paper money and coins. According to federal law, only the U.S. Treasury and the Federal Reserve System can issue U.S. currency. The Fed and the Treasury each issue a type of paper money – Federal Reserve notes and United States notes, respectively. All U.S. currency carries the nation's official motto 'In God We Trust'. 3. Coins are produced by the United States Mint in Philadelphia, Denver, and San Francisco. They come in various denominations based on the value of a dollar: the penny, one cent or one-hundredth of a dollar; the nickel, five cents or five-hundredths of a dollar; the dime, 10 cents or ten-hundredths of a dollar; the quarter, 25 cents or onefourth of a dollar; the 50-cent piece or half-dollar; and the one-dollar coin. Approximately nine percent of all currency in circulation in the United States is in the form of coins. 4. Paper money issued in the United States consists almost entirely of Federal Reserve notes, which are issued by the 12 Federal Reserve Banks in the Federal Reserve System. These notes come in denominations of $1, $2, $5, $10, $20, $50, and $100. Until 1969 the Federal Reserve Banks also issued bills of larger denominations ($500, $1.000, $5.000, and $10.000 notes). The only other form of paper currency is the United States Treasury note which is issued only in $100 denominations. Unlike the Federal Reserve notes, which bear a green seal on the right side of the 85

face of the bills, these carry a red seal. United States Treasury notes account for only one percent of all paper currency in this country. Both United States notes and Federal Reserve notes carry the printed signatures of the secretary of the Treasury and the treasurer of the United States. 5. During the late 1800s and early 1900s U.S. currency was based on the gold standard, which is to say that the United States promised to redeem its currency for a specified amount of gold. At one time the gold reserve required for the Federal Reserve notes was 25 percent. The other 75 percent of the backing was in the form of additional gold certificates, government securities, or note assets of the bank. Today there is no gold reserve behind these notes, so they are fiat money not having intrinsic value. 6. Yet the money supply in the United States consists of more than just coins and paper money. Checking account deposits are considered a form of money because they are spent when people write checks. When commercial banks make loans, they can create checking deposit accounts. In fact, in the United States, about three-fourths of all payments are made by check. (from 'An Outline of American Economy') Plan for retelling: 1. Commodity money in the history of America. 2. U.S. currency: establishments (organizations) that can issue U.S. currency. 3. Coins: • place of production; • their denominations. 4. Paper money: • Federal Reserve notes – United States Treasury notes; • denominations; • signatures they carry. 5. Gold standard and fiat money. 6. Checking accounts deposits.

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A major event took place on January 1, 1999. The Euro made its debut in most of the countries of the European Union. What is the Euro? It's a single currency that, by the year 2002, will replace most of the individual European currencies – like the German mark, the French franc, and the Spanish peseta. The debut of the Euro seems destined to accelerate a trend that has been developing for many years now: the movement toward the cashless society. Not all of the countries of the European Union are using the Euro. Britain, Sweden, and Denmark, for the time being at least, are maintaining their own currencies. Even so, the Euro will have a great many significant effects not only on European finance but also on that of the world in general. There won't be any Euro coins and bills for a while, but people will be able to use either checks or debit and credit cards to make a lot of their purchases. The European phenomenon will accelerate the trend worldwide to use less cash and more 'electronic' money. Is this positive or negative? Or is it just neutral, neither a good nor a bad thing? Are there any advantages to cash? Yes, of course. Suppose, for example, that you are walking down a street and you remember that you need to buy some flowers. You see a flower vendor, and you suddenly decide that this is the time to buy a dozen roses. So what do you do? Write a check, or pull out your debit or credit card? At this writing, few flower vendors take checks, and even fewer take plastic. Most of them prefer cold, hard cash. If you've got a little money with you, you simply pull out a few bills, hand them to the vendor, and

happily walk away with your flowers. Pretty easy, huh? It wouldn't be that easy without cash. Or suppose you're at an athletic event – a soccer match, a basketball game, or a volleyball tournament. Suddenly you realize you're hungry. You walk out to the concession stand to buy a couple of hot dogs. How would that work in a cashless society? Can you imagine pulling out a credit or debit card to pay for a hot dog? So cash has its advantages. Of course, cash has a good many disadvantages as well. For one thing, it's easy to be robbed. For another, cash is heavy. Carrying a lot of coins can make holes in your pockets. It's inconvenient to take a great deal of money with you to pay for large purchases. Imagine trying to carry enough cash to pay for a house, or a car – or even a sofa. Now there are also a number of advantages to electronic money. Think about it. You're traveling in Europe. Anyone who did this in the past knows that it was a bit of a pain to have to learn a new money system every time you crossed a border. Now, however, Euro prices are standardized, and you don't have to worry about whether a certain amount of your money will bring a different rate each time it's changed into a different local currency. What if things were that way everywhere? Wouldn't it be simpler? Then there's the matter of bill paying. Traditionally, most people in North America have paid their bills with checks. Recently, however, a trend has developed to have bills paid automatically, Japanese people have been doing this for years. In Japan, payment for such things as heat, electricity, and water is handled by automatic electronic deduction from a bank account. It's much easier than having to write several different checks to several different agencies. And since it's automatic, people don't have to worry about whether they've forgotten to pay their bill. Of course, there are certain disadvantages to electronic money, too. Some people have little use for plastic cards, saying that using them encourages us to live beyond our means. Others say that using electronic money places too much control of our personal finances in the hands of strangers. Mistakes are easily made. The jury is still out on whether the trend toward less and less use of cash is good or bad. What seems dear is that it's definitely on its way.

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PAYING: CASH / CREDIT CARDS / EURO GRAMMAR IN CONTEXT Questions to consider:

1. Do you pay for most things with cash or with credit cards? 2. What would be the advantages and disadvantages of living in a cashless society? T 15 Listen and read the article about money.

WHAT'S HAPPENING TO CASH?13

LEXIS

GRAMMAR PRESENTATION

Circle the letter of the choice closest in meaning to each italicized word or phrase from the reading.

1. The Euro made its debut in most of the countries of the European Union. a. had a significant effect b. made its first appearance c. was proposed 2. The debut of the Euro seems destined to accelerate a trend that has been developing for many years now. a. it's possible that it will b. it's probable that it will c. it's unfortunate that it will 3. You walk out to the concession stand to buy a couple of hot dogs. a. food and drink stand b. vending machine c. restaurant 4. Some people have little use for plastic cards, saying that using them encourages us to live beyond our means. a. spend more money than we have b. spend money responsibly c. spend very little 5. The jury is still out on whether the trend toward less and less use of cash is good or bad. a. There are court cases to decide b. It's obvious c. It's not yet clear

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QUANTIFIERS OF NOUNS

Quantifiers used with singular count nouns

It was a bit of a pain to have to learn a new money system every time you crossed a border. ... whether a certain amount of your money will bring a different rate each time it’s changed into a different local currency . . . You can use either currency in this country. Or is it just neutral, neither a good nor a bad thing? Quantifiers used with plural count nouns

... you simply pull out a few bills ... ... few flower vendors take checks ... ... and even fewer take plastic. ... a trend that has been developing for many years now ... ... the Euro will have a great many significant effects ... Of course, cash has a good many disadvantages as well. It's much easier than having to write several different checks to several different agencies. Now there are a number of advantages to electronic money. You walk out to the concession stand to buy a couple of hot dogs. ... you suddenly decide that this is the time to buy a dozen roses. People will be able to use either checks or credit and debit cards to make some of their purchases. Of course, there are certain disadvantages to electronic money, too. Quantifiers used with non-count nouns

If you've got a little money with you ... Some people have little use for plastic cards ... The European phenomenon will accelerate the trend to use less cash and more electronic money. It’s inconvenient to take a great deal of money with you to pay for large purchases. 90

Others say that using electronic money places too much control of our personal finances in the hands of strangers. ... it was a bit of a pain to have to learn a new money system every time you crossed a border. FOCUSED PRACTICE 1. Look again at some of the sentences from What's Happening to Cash? In each case, say whether or not the word in parentheses could be used to replace the italicized word or phrase without changing the meaning or creating an incorrect sentence. If not, explain why.

1. Even so, the Euro will have a great many significant effects. (many) 2. There won't be any Euro coins and bills for a while. (some) 3. Are there any advantages to cash? (some) 4. You remember that you need to buy some flowers. (any) 5. At this writing, few flower vendors take checks ... (a few) 6. ... and even fewer take plastic. (less) 7. If you've got a little money with you . . . (little) 8. ... you simply pull out a few bills. (few) 9. Of course, cash has a good many disadvantages as well. (a great many) 10. Carrying a lot of coins can make holes in your pockets. (many) 11. Some people have little use for plastic cards. (a little) 12. The jury is still out on whether the trend toward less and less use of cash is good or bad. (fewer and fewer) 2. Read the information and complete it by choosing the appropriate quantifiers.

Almost ______1._every____1. (every / either / all) adult in the United States has been invited to use a credit card at_________ 2. (some / any / each) time. Usually an 'invitation' to use one comes in the mail, along with a _________3. (great amount / number / great deal) of flattering remarks about the exclusivity of the people chosen to use the card.

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The temptation to take out the credit card is strong, especially among ________ 4. (certain / a certain / every) people who are not highly creditworthy at the time they receive the offer, such as students or recent graduates. The prospect of having ___________5. (much of / much / many) desirable goods so easily attainable with a little plastic card can be extremely seductive. _______________6. (An amount of / Much / Some) cards are issued by individual stores and are good only for purchases within the store. Others are issued by banks, through MasterCard or VISA, for example, and still others by the credit card companies themselves, such as American Express and Diners Club.____________7. (Either of the / Any of the / Some) oil companies and telephone companies, too, issue cards to large numbers of users. ___________ 8. (Most of / Much of / A great deal of) the credit cards work the same way. The consumer makes purchases and receives bills in the mail within a month. What he or she doesn't pay that month is subject to interest, often at a rate as high as 18 percent. Large stores and services usually have systems set up to bill the customer directly. The bank cards work somewhat differently. When a customer uses the card to purchase an item, the credit card issuer pays the store but deducts _____________ 9. (an amount of / a number of / a few) money from this payment as a service charge. The credit card issuer therefore profits from service charges and from interest charges and, in most cases, also profits from an annual fee charged to the consumer for the privilege of using the card. _____________ 10. (Neither / Both / Either) way, paying the store directly or paying the credit card company, if the customer doesn't pay within ____________11. (a certain / certain / little) time, he or she must pay interest. Of course, the more he or she pays at once, the _________12. (fewer / little / less) interest the customer will have to pay in total. LISTENING 1. T 16 Jack Andrews, who is three months behind on his loan payments, is talking on the telephone with Nancy Grant, the loan officer at his bank. Listen to their conversation.

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2. Now listen again and respond True (T) or False (F) to the following statements.

___1. Jack can't pay the bank right away. ___2. Jack has always made his payments on time. ___3. Jack will earn more money in his new job than he did in his old job. ___4. At first, Nancy doesn't want to recommend an extension of Jack's time to pay. ___5. Jack has to pay something right away, or Nancy will turn his account over to a collection agency. ___6. Nancy says Jack has to make his full payment immediately. ___7. Jack asks for a lot of time to come up with some money. ___8. Nancy can help Jack a lot even if he doesn't make a payment. 3. Now listen once more and fill in the blanks in the text. (telephone rings) GRANT:

United Central Bank. This is Nancy Grant speaking. May I help you? ANDREWS: Hello, Ms. Grant? This is Jack Andrews. GRANT: Oh, yes, hello, Mr. Andrews. What can I do for you? ANDREWS: I wanted to ask if I could have __1. a little more______ on this month's payment. GRANT: OK. Let me just look at your file. Hmm . . . well, we've received ______2.________for three months, and your file shows that ______3.________have been made on time since you took out the loan. I'm sorry, but I can't recommend_______4.________. ANDREWS: I know, Ms. Grant, but I just started a new job. I'll be earning _______5._______than I did in my last position, but I won't be getting paid for a month. GRANT: Well, Mr. Andrews, we try to be helpful here, but we do have ____6.___that we have to uphold. There's______7._____ I can do at this point. In fact, I'm going to have to turn your account over to a collection agency if you don't pay at least ________8.______on your outstanding balance.

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ANDREWS: Could I have just _____9._________to try to come up with _______10._______? I'm sure I can arrange something if I can have just _____11.________ . GRANT: __12._________ would you need? ANDREWS: How about ten days? GRANT: All right, Mr. Andrews. If you can make a payment within ten days, well reopen your account. I can't do ______ 13._________for you otherwise. ANDREWS: Thank you, Ms. Grant.

THE EURO USING QUANTIFIERS

Read the following article about the Euro. Then work with a partner. Together, complete the text with appropriate quantifiers. Discuss your selections.

TRAVEL GUIDE Travelers Will Benefit From Euro LONDON (AP) – Trying to keep track of expenses while traveling around Europe can feel like a never-ending math test, converting every price into dollars. Make a mistake, and you might get fleeced like a Shetland sheep. The creation of the Euro, a common currency for _______ 1._eleven____ European nations, will bring short-term headaches to travelers, but ____2._____long-term benefits. The headaches stem from the fact that _____3.____ actual Euro notes or coins will be available until 2002, even though the Euro will officially exist in bank accounts beginning January 1. You should be able to charge purchases on your credit card in Euros in ____4._____ places, especially tourist destinations, but ____5._____cash transactions will have to be made in local currencies. Two Prices During the three-year transition before the Euro fully takes over, travelers will see ____6._____ goods with two prices, one in local currency and the equivalent in Euros. 94

More math mayhem? Perhaps not. You'll still have to fork over francs to get what you want in France, but the Euro number can be useful for comparing prices across borders and for figuring out dollar equivalents. Because the eleven currencies will have permanently fixed rates against the Euro, you no longer have to keep track of eleven exchange rates, just one: the dollar-Euro rate. No more dividing ____7.______ price by 1,600 in Italy and 5.6 in France. What's more, the Euro's value is expected to be fairly close to the dollar's, meaning a lot ___8.______ long division and a welcome relief for the mathematically challenged. Comparison Shopping Comparison shopping across the borders will be a snap. A hotel room in Paris for 850 francs might seem like a bargain compared with one that costs 225,000 lire in Rome. But not when you see that the Paris room is 130 Euros vs. 115 Euros for the one in Italy. Some people who travel frequently to Europe are already looking forward to the Euro, even if it means seeing double on ____9._____ price tags for three years. Richard Schroeter, an agricultural trade consultant based in Washington, says the Euro should be 'a real plus' for frequent travelers to Europe such as himself. 'It gets very confusing figuring out how ___10.______ things cost. Trying to go from shopping in Belgium to shopping in Italy is quite a change,' Schroeter said. 'Now, it's as if you were traveling through the United States and every state had a different currency.' (Source: The Associated Press, CBS Market Watch Report, December 30,1998.) THE NUMBERS GAME Look at the exchange chart. Play in teams of four to six students. Team B, turn to File 6. Team A asks Team В the six questions that appear in File 6. Then Team В asks Team A six questions. Score points.

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Currency US. $ Aust $ U.K. £ Last N/A Jan 8 Jan 8 Trade

Can $ Jan 8

DMark Jan 8

FFranc Jan 8

SFranc Jan 8

Euro Jan 8

U.S. $

1

0.6348

1.645

0.6614

0.5929

0.1768 0.009013 0.7195

1.159

Aust $

1.575

1

2.591

1.042

0.934

0.2785

0.0142

1.133

1.826

U.K. £

0.608

0.386

1

0.4021

0.3605

0.1075

0.00548

0.4375

0.7049

Can $

1.512 0.9598

2.487

1

0.8964

0.2673

0.01363

1.088

1.753

DMark

1.687

1.071

2.774

1.116

1

0.2981

0.0152

1.214

1.955

FFranc

5.657

3.591

9.304

3.742

3.354

1

0.05099

4.07

6.559

¥en

111

70.43

182.5

73.38

65.78

19.61

1

79.83

128.6

SFranc

1.39

0.8823

2.286

0.9192

0.824

0.2457

0.01253

1

1.611

0.8625 0.5475

1.419

0.5705

0.5114

0.1525 0.007774 0.6206

Euro

¥en Jan 8

1

Team A's Questions: 1. Andrew has 10,000 pounds in his savings account. Roberta has 10,000 dollars in hers. In terms of absolute value, who has less money? 2. The Euro is currently trading at $1.16 to the dollar. Will it take fewer dollars or fewer Euros to purchase something? 3. A tourist from France and another tourist from Germany both want to buy the same item. Will it take more francs or more marks to make the purchase? 4. A tourist from Canada wants to buy something in the United States. She has $400 Canadian. The price is $350 U.S. Will she have enough money? 5. Will it take fewer Swiss francs or French francs to purchase an item? 6. A tourist from Japan is traveling in Europe and has only traveler's checks in denominations of 1,000 yen. He wants to buy something that costs one Euro. How much money will he have to change? WRITING AN ESSAY Have you ever had a problem figuring out the currency when you visited another country? Did you perhaps tip the waiter $10 instead of $l by mistake? Did something amusing happen? Something not so funny? Write two or three paragraphs telling your story. 96

LISTENING AND DISCUSSION T 17 Listen to the dialogue. What is the situation described? Have you ever been in such a situation or alike? What would you do if you were in this situation?

MONEY LAUNDERING∗ READING Read the text and complete the tasks:

MONEY LAUNDERING TRENDS IN THE EUROPEAN UNION14 The money launderer changes the illicit proceeds from one form to another, often in rapid succession. The trend is towards acquiring tangible assets (such as cars, boats, aircraft, luxury items, real estate, and precious metals) with the bulk cash originating directly from criminal activity. Often, but not necessarily linked with offshore centres, the mechanism of shell or front companies has been detected. These are entities that generally exist only on paper. These legal entities are usually conducted specifically in order to carry out a wide range of criminal businesses such as financial fraud, especially in the United Kingdom, and fraud against the European Union, especially in the Netherlands, Belgium and Italy. They do not participate in actual commerce and are run by straw men, as often found in Italy. Their purpose is quite exclusively criminal and they often face a 'law enforcement risk' from investigations about the real nature of their existence. This is the reason why they are closed down almost as soon as they are formed and often the accountancy books are physically eliminated in order to conceal any trace that could help future or further investigations. Money launderers are ever more oriented towards the use of non-bank financial institutions which are still not completely or properly regulated in some European Union member states. As they do ∗ To learn more about money laundering see SUPPLEMENTARY TASKS: Block 9 (p. 72).

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not always come under the same obligation as the financial sector, because they are not allowed to undertake banking activities to earn interest, they are used especially at the placement stage for entering the cash into the financial market. There is evidence, especially in the Netherlands, Italy and Belgium, of criminal groups moving from major commercial banks to those called second line banks and often operating accounts in the name of offshore companies. These include a wide variety of bureaus de change, cheque cashing services, insurers, brokers, importers, exporters and other trading companies, gold and precious metal dealers, express delivery services and other money movers. Casinos or gambling houses are used at the placement stage. Enquiries into stockbroking markets in Austria, Finland and the United Kingdom have, however, revealed that much illicitly gained money is laundered in this circuit. A special mention has to be made of insurance companies which are increasingly popular laundering mechanisms, as in Germany, especially in the premium insurance bond sector. Vocabulary notes:

to launder – стирать и гладить (белье), отмывать (перен.) illicit – незаконный, недозволенный, запрещенный proceeds – доход, вырученная сумма assets – 1) активы, авуары; 2) имущество; 3) имущество несостоятельного должника real estate – недвижимость, недвижимое имущество syn. real property real estate duty – налог на унаследованную недвижимость bulk – большое количество straw – солома a straw man – 1) соломенное чучело; 2) ненадежный человек; 3) подставное, фиктивное лицо bureau de change – пункт обмена валюты gambling house – игорный дом to gamble – играть в азартные игры stockbroker – биржевой маклер bond – 1) облигация; 2) долговое обязательство; 3) таможенная закладная 98

WORDS AND GRAMMAR

4. Write down the word families of the following words:

1. Mark (with a tick) the meaning in which the following words are used in the text:

assets a straw man interest circuit bond

a) активы b) имущество c) имущество несостоятельного должника a) соломенное чучело b) ненадежный человек c) подставное лицо a) интерес b) проценты c) доля a) кругооборот b) выездная сессия суда c) (судебный) округ a) облигация b) долговое обязательство c) таможенная закладная

2. Choose the synonyms from the box:

to take part, to connect,

to receive, to carry out,

to sum up, to remove,

to come from, to open

to acquire............................ to undertake………………………. to originate.......................... to eliminate....…………………….. to link.................................. to participate .…………………….. to summarise....................... to reveal.........……………….……. 3. Choose the antonyms from the box:

slow,

imaginary,

illicit,

licit ……………………… rapid ……………………. actual ……………………

improper,

illegal,

incomplete

legal ………………………… complete ……………………. proper ………………….…… 99

Example: to launder – laundry, laundress, launderette to exist, to operate, to gamble, to originate, to earn 5. Write out the English equivalents from the text:

криминальная деятельность................................................... оффшорные центры................................................................ головные фирмы...................................................................... фактическая торговля............................................................. бухгалтерские книги............................................................... небанковские финансовые учреждения............................... особо следует отметить.......................................................... 6. Write down what parts of sentence the ing-forms are and translate the following into Russian:

Example: money laundering trends …(attr.)... – ...тенденции в отмывании денег three main trends are outlined referring to these methods and instruments..................... the trend is towards acquiring tangible assets............................... they are criminal groups moving to banks called second line banks and often operating accounts in the name of offshore companies ……..……………………………………. insurance companies are increasingly popular laundering mechanisms........................... SUGGESTED ACTIVITIES Write down a few sentences on each of the following, basing on the text:

acquiring money criminal activity second line banks stockbroking markets shell companies premium insurance bond sector

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SUPPLEMENTARY TASKS

Wampum 13……. (служили) as money to those early settlers, and money 14……… (представляли) a vast improvement over barter. (from Applied Economy) 2. Retell the story in indirect speech:

Block 6 HISTORY OF MONEY

HOW MONEY WAS INVENTED

1. Complete the sentences with the words given in the box.

were unwilling, accept, hungry, purchase, settled, cloth, consisted of, to sell, to swap, served, drawbacks, represented, trade, associated When the English colonists first 1…….(поселились) in the New World they brought little of the money they had used at home, which they called pounds, shillings and pence. It didn't really matter, though, because the Indians they traded with were not interested in British money. The native Americans 2…….(не хотели) to exchange food for small pieces of paper and metal. They would, however, 3……. (торговали) fish, furs and other essentials through barter. Barter is the exchange of one good or service for another. The earliest form of trade was by barter. For example, a 4…….(голодная) Puritan family with some English 5……. (ткани) might have been able to trade it for fish with one of the native Americans. But barter has many 6……..(недостатков). Before the Puritan family could plan their fish dinner, they had to find someone willing to accept cloth in payment for fish. And suppose one wanted 7…….(обменять) a cow for a fish. How does one make change out of a cow? The many problems 8…….(связанные) with barter led the Massachusetts colonists to turn to wampum. Wampum, a form of money among native Americans in Massachusetts in the 1640's, 9 …….(состояли из) certain black or white shells. (Black shells were worth twice as much as the white ones.) Both colonists and Indians would cheerfully 10……. (принимали) wampum in payment for anything they had 11……. (продать) in those days. Wampum became the medium of exchange in this early colonial period. Those who had to have English money could 12…….(купить) it at the rate of six white shells to the penny. 101

This simple fictional children's story has far reaching economic consequences and laws to be learned from common sense, and is the basis of proof for the Laws of Collateralism. Once upon a time, there were three men in a village, a shoemaker, a farmer and a tailor. No money existed at that time, and all trade was done by barter, i.e. the exchange of goods of one sort for those of another. All was well, until one day the shoemaker ran out of corn. So he went along to the farmer and asked him to give him a bag of corn in exchange for a pair of shoes. 'I'm sorry,' said the farmer, 'but I already have a pair of shoes, so I can't let you have the bag of corn'. It was a cold day, and hardly had the shoemaker left, when the farmer felt a cold shiver down his spine. 'I think I'll take this bag of corn down to the tailor and get myself a warm coat in exchange,' he said. 'Sorry,' said the tailor when he got there. 'I can't give you the coat Mr. Farmer as I have enough corn already. In any case, I need a new pair of shoes, and that's what I'm going to trade this coat for.' But when the tailor got to the shoemaker's house, he was also in for a shock. 'I already have a coat, Mr. Tailor,' said the shoemaker. 'Sorry, but you can't have the pair of shoes'. So, there they were, three miserable and frustrated men. The shoemaker was hungry, the farmer was cold and the tailor's feet were sore. They couldn't barter anymore. However, the shoemaker was an Inventor and an optimist – one who creates opportunities out of difficulties. He said to himself, 'Surely there must be a way out of this frustrating situation. I want a bag of corn from the farmer who doesn't want my shoes, the farmer wants a coat from the tailor who doesn't want his corn and the tailor wants a pair of shoes from me and I don't want his coat'. 102

Suddenly, he had a brain-wave. Using his knife he fashioned three wooden sticks of exactly the same length, size and shape and marked them with an identically shaped notch. Then, calling the others together he said, 'I have a solution to our problems. Look here. I have made three special sticks and I'm going to give us one each. Now if any of us requires something from the other, instead of giving goods in exchange, we will give this stick.' 'Preposterous!' exclaimed the others. 'Do you mean to say that for a worthless looking stick like that, you expect us to part with our valuable merchandise?' 'Yes', replied the shoemaker, 'let's try it out.' 'Alright' said the tailor, 'here's my stick, and can I have the pair of shoes I asked you for?' 'Certainly', said the shoemaker, handing him the shoes. 'Here's my stick,' said the farmer to the tailor, 'can I have the coat please?' 'Er, yes...', replied the tailor, handing him the coat. 'But,' said the farmer, 'I'm left without a stick now!' 'No you're not,' said the shoemaker, 'you can have one of the two sticks I have in exchange for that bag of corn.' 'Why, yes, certainly. Of course you may have it.' replied the farmer. 'So you see,' said the shoemaker, 'we have now all got what we wanted, and we still have one stick left each. Let us call these sticks MONEY.' 'Yes!' they all agreed, and they lived happily ever after. (from www.gipe.freeserve.co.uk) Block 7 MONEY: TOPIC EXPANSION12 1. Переведите части предложений, которые даны в скобках по-русски.

1. The taxable income next year is expected to be (выше, чем) this year. 2. In a period of rapid inflation, money cannot perform its function as a store of value (так же хорошо, как) in periods with no 103

or low inflation. This function comes to be (чаще) performed by real property assets (чем) by money. 3. The purchasing power of money is (намного ниже, чем) a year ago. 4. In Russia, the prices for farm products did not rise (так же значительно, как) the prices for inputs over the past decade. 5. If the demand for pounds is falling, it reflects the fact that pounds become (менее дорогие) to Americans and British goods, services, and assets can be bought (дешевле). This will make Americans demand (бóльшие количества) of British goods, and finally (бóльшие суммы) of pounds. 6. (Чем больше) labour is invested in a commodity, (тем выше) is its price. 7. Deutschemarks are known to have been used in postcommunist Russia both as a unit of account and a store of value, though (не так широко, как) US dollars. 8. In the Russia of the late 1990s, the attractiveness (привлекательность) of gold bullions (слиток) as a store of value was (не такая высокая, как) the Central Bank had expected, for people could not sell them (no той же цене, которую) they paid for them. 2. Переведите предложения на русский язык.

1. Loan is a sum of money which is borrowed by a person or business from another person or business, a bank in particular, and which is to be repaid within a certain period of time with interest. 2. The prices must have been temporarily depressed as a result of accumulated public stores of essential goods and the government programmes of producer support. 3. Although it was prohibited to use foreign currency as a medium of exchange or a means of payment, it is known to have been widely used as such in the Russia of the 1990s. 4. Middle price is the price for foreign currency or commodity which lies halfway between the actual buying price and the actual selling price quoted by dealers. Prices and exchange rates published in newspapers are actually middle prices. 5. The exchange rate of national currency against foreign currency is a reliable enough indicator of the domestic economy stability and its attractiveness for foreign investors. 104

6. We know means of payment to have varied over time from pebbles and oxen to money including credit cards and bank accounts. 7. Though recently introduced, Euro can be used for purchases by credit cards and travellers' cheques nowadays. 8. The IMF officials suspect that much of the $4.8 billion loans the IMF sent to Russia in the summer of 1998 may have been transferred by oligarchs to Switzerland and other Western countries. 3. а) Раскройте скобки, употребив глаголы в соответствующей форме.

4. Сообщалось, что большинство европейских банков начали предлагать счета в евро и начали торги по евро, как только была введена новая денежная единица. 5. Ссуды, представленные коммерческими банками, строительными обществами и т. п., должны рассматриваться как важнейший источник кредита в стране. 5. Раскройте скобки и употребите инфинитив в соответствующей форме.

People use money because it is economical to do so. Actually, a barter economy is absolutely wasteful nowadays. Suppose a bootmaker wishes to obtain two shirts in exchange for a pair of boots that he has just made. To handle such a transaction, he has to find a tailor who wants to trade two shirts for a pair of boots. By the time our two find each other, they could (produce) another pair of boots or two shirts. The economy as a whole has lost one pair of boots and two shirts in the swap. Therefore, the more a man wishes to acquire for his personal use, the less he has to work. If used in the economy, money lets our bootmaker sell his boots to anyone and go directly to a tailor and buy his shirts. Time spent in this transaction is minimal; our economy will not lose a pair of boots and two shirts as a result of this transaction and, so, the GNP (to expect) (to increase) by these goods through the use of money. Money (to say) (to use) because it is productive.

1. All bank-notes and coins must (to accept) at their full nominal value without restriction. 2. Bank-note paper can easily (to distinguish) from ordinary paper. 3. We know a great variety of commodities (to use) at one time or another as a medium of exchange. 4. Cheques and credit cards are known (to become) more popular in recent years than paper money and coins. 5. New technologies are said (to allow) people with bank accounts to pay for their purchases in shops through videotext TV. 6. The Moscow Interbank Currency Exchange is known (to provide) a basis for determining the exchange rate of rouble against other currencies in the 1990s. 7. The foreign exchange market may not (to regulate) by governments or it may (to intervene in) by them. 8. Russia's gold reserves were reported (to fall) constantly in the early 1990s.

4. Переведите предложения на английский язык.

6. Соедините данные предложения парным союзом the... the... в одно предложение:

б) Напишите семь вопросов к тексту.

1. Говорят, что использование нескольких национальных валют более расточительно для ряда стран, чем использование одной общей валюты. 2. Экономисты предполагают, что евро будет использоваться в странах Европейского Сообщества наряду с национальными валютами до 2003 года. 3. Полагают, что из-за пособий по безработице временная безработица превращается в постоянную.

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Образец: A firm's assets are considerable. Its chances of obtaining a loan from a bank are high. – The more considerable are a firm's assets, the higher are its chances of obtaining a loan from a bank. 1. Real wage grew slowly in the late 1980s in Europe. Employment started to grow fast. 2. A product has to be transported far to the market place. Transportation expenses are high. 3. The habit of the population to pay in cash is great. The possibilities for banks to develop new technologically advanced forms of money are restricted. 106

4. The period for which the money is borrowed is long. The possibility for the loan to be repaid is small. 5. Minimum wages for workers with little human capital are high. It often actually results in unemployment for those workers. 7. Прочитайте и ответьте на вопросы.

1. Before 1999 the Common Market (Общий рынок) member states had the common currency called ECU (European Common Unit). In 1999 the Common Market introduced a new currency, – Euro, – used temporally only in bank operations. Euro was more expensive than US dollar in January 1999. Since 2003 Euro is expected to be used not only in the banks. What do you know about the history of the European common currency? 2. The International Monetary Fund (IMF) is expected to expand international trade, stabilize exchange rates, and help countries having temporary balance of payments difficulties maintain their exchange rates. The IMF supplies the member country with the amount of foreign currency it wishes to purchase in exchange for the equivalent amount of its own currency. The member country must repay the amount buying back its own currency with a currency accepted by the Fund, usually within three to five years. How does the IMF help maintain exchange rates of its member countries' currencies? 3. Up to the 1970s the IMF used a fixed exchange rate system which is a means for synchronizing and coordinating the exchange rates of member countries. The exchange rate of a currency is fixed against other countries' currencies, for instance, one US dollar = 260 Japanese yen. When fixed, the exchange rate is expected to be maintained over long periods, though countries may also choose to devalue or revalue their currencies. In the early 1970s, however, a weakening of the US dollar made a large number of currencies 'float' (плавать) to provide a greater degree of exchange rate flexibility (гибкость). With a floating exchange rate system, the value of each country's currency in terms of other currencies was determined by supply of and demand for it depending on the

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strength or weakness of balance of payments position in the economy in question. Most currencies have continued to float although there have been exceptions. Fixed exchange rates are known to have been imposed on a limited basis, as in the European Community. Nowadays, fixed exchange rates are believed to be preferred to floating ones, since they are said to provide more convenient and less risky conditions for foreign trade. What systems of determining exchange rates can you name? Which of them is preferred now? Why? 8. Определите, в каких значениях употреблено слово for. Переведите предложения на русский язык.

1. Information resources are too scarce (скудный) for statistics to avoid (избегать) compromises. 2. Smaller firms have for some time been believed to be at a disadvantage compared with large firms when they need to borrow. 3. Present-day economists do not distinguish profit from rent, for they think capital to comprise various kinds of property, land in particular. 4. Many economists specialize in a particular branch of the subject, for instance, urban economics studies city problems, land use, transport and housing. 5. People can hold money (держать деньги в наличности или на расчетном счете в банке) to finance some future purchase without loss of purchasing power, for money serves as a store of value. Block 8 THE ROLE OF MONEY15 READING ONE

All values in the economic system are measured in terms of money. Our goods and services are sold for money, and that money is in turn exchanged for other goods and services. Coins are adequate for small transactions, while paper notes are used for general business. here is additionally a wider sense of the word 'money', covering anything which is used as a means of exchange, whatever form it may 108

take. Originally, a valuable metal (gold, silver, or copper) served as a constant store of value, and even today the American dollar is technically 'backed' by the store of gold which the US government maintains. Because gold has been universally regarded as a very valuable metal, national currencies were for many years judged in terms of the so-called 'gold standard'. Nowadays however valuable metal has generally been replaced by paper notes. National currencies are considered to be as strong as the national economies which support them. Paper notes are issued by governments and authorized banks, and are known as 'legal tender'. Other arrangements such as cheques and money orders are not legal tender. They perform the function of substitute money and are know as 'instruments of credit.' Credit is offered only when creditors believe that they have a good chance of obtaining legal tender when they present such instruments at a bank or other authorized institution. If a man's assets are know to be considerable, then his credit will be good. If his assets are in doubt, then it may be difficult for him to obtain large sums of credit or even to pay for goods with a cheque. The value of money is basically its value as a medium of exchange, or, as economists put it, its 'purchasing power'. This purchasing power is dependent on supply and demand. The demand for money is reckonable as the quantity needed to effect business transactions. An increase in business requires an increase in the amount of money coming into general circulation. But the demand for money is related not only to the quantity of business but also to the rapidity with which the business is done. The supply of money, on the other hand, is the actual amount in notes and coins available for business purposes. If too much money is available, its value decreases, and it does not buy as much as it did, say, five years earlier. This condition is know as 'inflation'. Notes:

1. Money has four functions. It serves as a standard of value (мера стоимости), as a medium of exchange (средство обращения), as a store of value (средство сохранения стоимости), and as a standard of deferred payment (средство погашения долга). 2. The US Government abandoned the gold standard in 1971. 109

Vocabulary List:

value – ценность transaction – дело, сделка, операция a means of exchange – средство обмена a store of value – средство сохранения стоимости, средство сбережения a constant store of value – постоянное накопление стоимости to back (paper money, currency) – поддерживать, обеспечивать (бумажные деньги, валюту) store – запас the store of gold – золотой запас currency – 1. деньги (обычно наличные деньги: монеты, банкноты); 2. валюта national currency – национальная валюта the gold standard – золотой стандарт to abandon the gold standard – отказаться от золотого стандарта issue – выпускать, пускать в обращение to issue paper notes (securities) – выпускать бумажные деньги (ценные бумаги) authorized – официально принятый, разрешенный, санкционированный authorized banks (institutions) – банки (институты), наделенные определенными правами; уполномоченные банки legal tender (banknotes) – законное платежное средство, официально принятое государством (банкноты) cheque – чек money order – платежное поручение substitute money – представитель платежных средств instruments of credit – кредитные обязательства (векселя, чеки, облигации) assets – 1. активы; 2. средства, капитал, фонды the value of money – стоимость денег a medium of exchange – 1. средство обмена, расчета; 2. средство обращения (как функция денег) purchasing power – покупательная способность to reckon – подсчитывать, исчислять 110

to effect – осуществлять, совершать to effect business transactions – осуществлять деловые сделки circulation (of money, capital) – обращение (денег, капитала) to come into general circulation – поступать в совокупное обращение to put into circulation – пустить в обращение the demand for money – спрос на деньги the supply of money (money supply) – 1. денежная масса, сумма денег в обращении, количество денег; 2. предложение денег the quantity of business – количество операций, объем бизнеса the rapidity of business – скорость осуществления операций в бизнесе COMPREHENSION

A. 1. What is the role of money and what are its functions? 2. What is the gold standard and why was it abandoned? What backs national currencies now? 3. Why do you think valuable metal has been replaced by paper money? Who can issue paper notes? 4. What are money orders and what function do they perform? 5. In what case can one obtain large sums of credit and even pay for goods by cheque? 6. What is purchasing power and what does it depend on? 7. How do we reckon the demand for money? What is the demand for money related to? 8. What is inflation? B. 1. Read the passage again. a. Give the wider sense of the word 'money'. b. Pick out derivatives and word combinations with the word 'value'. Translate them into Russian and use them in sentences of your own. c. Find in the text all the terms which you would use speaking about money.

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2. Make up English-Russian pairs choosing the suitable equivalents.

1) legal tender; 2) reckon; 3) gold standard; 4) store of value; 5) money order. 1) платежное поручение; 2) подсчитывать, исчислять; 3) золотой стандарт; 4) средство сбережения; 5) законное платежное средство; 3. Give English equivalents of the following:

1) средство обмена; 2) сделка, операция; 3) отказаться от золотого стандарта; 4) средство расчета; 5) обращение денег; 6) денежная масса; 7) выпускать деньги. 4. Translate the following sentences into English in written form. Look through the text first. Make use of the Vocabulary List, if necessary.

1. Все ценности в экономической системе измеряются деньгами. Товары и услуги продаются за деньги, а эти деньги обмениваются на другие товары и услуги. Термин «деньги» в широком смысле этого слова означает все, что используется как средство обмена. 2. Первоначально ценный металл служил как постоянное накопление стоимости. Даже сегодня американский доллар «поддерживается» запасом золота. Многие годы национальные валюты оценивались с точки зрения «золотого стандарта». 3. В настоящее время бумажные деньги заменили металл, и сила национальных валют оценивается силой национальной экономики, которая поддерживает их. Бумажные деньги, выпущенные эмиссионными (issuing) банками, являются законным платежным средством. 4. Чеки и платежные поручения не являются государственным платежным средством. Они выполняют функцию представителя платежных средств и известны как кредитные обязательства. 5. Стоимость денег определяется их стоимостью как средства обмена или их покупательной способностью. Эта покупательная способность зависит от соотношения спроса и предложения. 6. Если в обращении слишком много денег, их стоимость снижается и падает их покупательная способность. Эта ситуация известна как инфляция. 112

READING TWO Read the text and structure the information given:

CLASSIFICATION OF MONEY

материального содержания денег, monetary value – денежная стоимость (золота или серебра), face value – номинальная стоимость, gold Eagle – ам. «Орел», старинная золотая монета в 10 долларов, credit money – кредитные деньги, representative money – представители полноценных денег, fiat money – бумажные деньги, не обеспеченные золотом, not redeemable for gold ... – не обеспеченные золотом, note assets – денежные активы.

Money may also be classified according to its inherent value. In full-bodied money, the intrinsic value of the money's material content has a value equal to its monetary value (face value). For example, the inherent value of a $10 gold piece was originally equal to its monetary value of $10. Not only could you use the $10 gold Eagle to buy $10 worth of groceries, you could sell its gold content (melted down) for $10 in cash on the gold market. Today, however, since the price of gold has increased, the gold in a $10 gold piece is worth much more than $10. In credit money, the intrinsic value of the money's material content is less than its monetary value. Representative money is money (usually paper) that serves in place of commodity money. It may represent either full-bodied or credit money. The gold certificates that circulated in the United States before 1933 are a good example of full-bodied money. But the certificates are no longer used. An advantage of representative money is that it is more portable than commodity money. The government sometimes issues fiat money, which is backed only by the promise of the government to redeem it or to exchange it for other types of money. To help finance the Civil War, Congress authorized the issue of paper money officially known as United States notes and popularly called greenbacks. This was fiat money; the notes were legal tender but were not redeemable for gold or silver. Today most of American currency is in the form of Federal Reserve notes, which are issued by the Federal Reserve Banks with the approval of the U.S.Treasury. At one time the gold reserve required for these notes was 25 percent. The other 75 percent of the backing was in the form of additional gold certificates, government securities, or note assets of the bank. Today there is no gold reserve behind these notes, so they are also fiat money. (Hailstones T.J. Op. cit., p. 151–153) ___________________ Full-bodied money – полноценные деньги, intrinsic value of the money's material content – реальная, действительная, стоимость

Washing money, once a Swiss speciality, was made a crime in that country in 1990. Switzerland's Federal Banking Commission has now published some belated tips for bank employees on how to recognize dirty money on the move when they see it. Grounds for suspicion unastonishingly include sudden activity in a previously dormant account; cash being withdrawn soon after it is deposited; dealings outside the usual pattern; transactions with no recognizable economic motive; a customer's refusal to provide information, or provision of false information. Banks are told to check carefully when they are asked to open accounts with more than $67,800 of cash or precious metals. Subsequent big transactions should be scrutinized. Counter staff should question people without accounts who produce suitcases full of bills that they want to change into other currencies. All this is fine, as long as bank do not then ignore what they find. In Switzerland's biggest money-laundering scandal to date, tried under the old law, it emerged that Credit Suisse had been told by an internal audit committee that two Lebanese brothers were conducting questionable business through their account. The bank did nothing about it. In 1990 the brothers were jailed for laundering millions of drug-dollars. Perhaps the banks should be alerted to more commonplace crime. In a perfectly executed sting last month, four Hungarians with

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Block 9 MONEY LAUNDERING READING ONE On the basis of the following text speak on crime in banking and give your own examples.

2m D-marks were lured into the main banking hall of Credit Suisse in Zurich, where they were met by a man claiming to be a director of the bank. While he went off with the suitcases to 'change' money, never to return, the victims took coffee with a man posing as a bank underling. The accomplice later made his excuses and left as well. The same sting the following week on a Canadian businessman netted the impostors with 4m dollars. Two men, a German and a Swiss, have been arrested, but the stingleader is still at large. ('The Economist', January 29th, 1994) ___________________ belated tips – запоздалые советы, сведения, информация; dormant account (inactive account) – пассивный депозитный счет в банке; to scrutinize – тщательно проверять; to launder (to wash) money – отмывать деньги; sting – обман, мошенничество; to lure into... – завлекать, заманить в ... ; underling – мелкий чиновник; accomplice – сообщник, соучастник преступления; impostor – мошенник; to be at large – быть на свободе. READING TWO Insert articles where necessary:

LAUNDERING ELECTRONIC MONEY16 If there is one thing money launderers hate it is (1) … cash; physical cash, that is. Shipping huge wads of banknotes is (2) … logistical nightmare. It also raises (3) … risk that couriers will be intercepted and (4) … loot traced back to its source. Transferring (5) … money electronically is both quicker and easier. Hence concerns in law-enforcement circles that new forms of electronic money could render obsolete traditional methods of tracking tainted money, which rely heavily on (6) … policing of bank transactions. Electronic-money systems come in three different forms. There are (7) … stored-value cards, which allow customers to load money onto a microchip-bearing piece of plastic. This can then be carried around like (8) … credit card. There are computer-based systems, for example, those involving payments over the Internet. And there is talk of hybrid systems, which allow (9) … smart cards and network-based payments to work together. 115

Although these new gizmos are still under (10) … development, financial regulators and (11) … policemen have been studying them intently. And they have raised several questions to which they want (12) … answers. One is whether limits will be placed on value that can be held on chip-bearing cards. (13) … card without a limit 'could break my back', worries Stanley Morris, who heads FINCEN, the American government's financial-intelligence unit. He thinks (14) … launderers could use it to shift millions of dollars on (15) … piece of plastic. (16) … anti-laundering brigade also wants reassurance that crooks will not be able to set themselves up as e-money users. And they want to know whether all transactions in whatever system will be logged at (17) … central point, so that investigators can reconstruct (18) … electronic audit trail if necessary. At least one card-based system currently being developed by MONDEX, (19) … company owned by Master-Card, is designed to allow money to be transferred directly between (20) … cards, without leaving such (21) … trail. DigiCash, which is developing (22) … computer-based payment system, is using what calls (23) … 'one-way privacy' method, which allows payers to check who received money from them, but does not allow (24) … recipients to find out where it came from. While these and other issues, such as who will have jurisdiction over laundering on (25) … Internet, suggest (26) … new systems could cause (27) … authorities (28) … few headaches, some experts beg to differ. (29) … report published last year by (30) … Bank for International Settlements, (31) … central bankers' central bank, noted that in most cases, measures designed to protect (32) … new systems againts fraud – such as attaching (33) … unique electronic serial numbers to transactions – would make them less attractive for (34) … criminal activities than many existing payment systems. At (35) … moment, all financial regulators can do is watch and wait.

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3. Complete each sentence with a word from the list. Use each word once only.

Part III. MONEY: LEXICAL TESTS

coin guarantee credit card loan

MONEY17 1. Choose the most suitable word or phrase underlined in each sentence.

a) I haven't got enough money, I'm afraid. Could you borrow/ lend me some? b) It's a good school, but the fares/fees are rather high. c) This car is too expensive. We can't afford/pay it. d) It was a very good meal. Can we have the account/bill please? e) There's a small flat to hire/let in Bridge Street. f) How much do you earn/gain in your new job? g) She's a good dentist, but she doesn't charge/spend too much. h) I bought this coat in the sales. It was decreased/reduced a lot. i) Jack made his fortune/treasure buying and selling property. j) How much do you reckon/value that house would cost? 2. Replace each word or phrase underlined with a word or phrase from the list which has the opposite meaning.

cash generous poverty purchase

profit save well off take out worthless

expensive

a) I was surprised by how mean Charles was........... b) Janet says that she is very hard up at the moment………. c) Last year their business made a huge loss............. d) I'd like to pay in £100 please................ e) That part of Spain always seems very cheap to me…………. f) Most people in the city live in great prosperity……………… g) The manager insisted that I paid by cheque. ……………….. h) Some people manage to spend most of their money. ………. i) Jean was able to make only one sale during the morning...….. j) The old painting I found in the loft turned out to be valuable. ………

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pension receipt

rent safe

tip wealth

a) The old couple had only a small.....................to live on. b) My uncle Sam acquired his considerable.....................selling cars. c) David never carries cash with him and pays for everything by....…… d) I wouldn't have been able to buy my boat without a bank........ e) The shop won't change any goods without the original............ f) Keith didn't like the waiter so he didn't leave a...................... g) The house is not in very good condition so the..............is low. h) The food mixer has a twelve month...................... i) We keep all our money and valuables in this.....................in the floor. j) The five pence...................is so small that everyone dislikes it. 4. Choose the most suitable response to each sentence a) to j) from the sentences 1) to 10). Use each response once only.

a) Who do I make the cheque out to? ....... b) We seem to be spending a lot of money lately. ....... c) The house has burnt down! What are we going to do? ....... d) How much do you want for this drawing? ....... e) Did you inherit this house? ....... f) Your dog must have cost a lot of money........ g) Do we still owe the bank any money? ....... h) How much do you make a year? ....... i) Can we change money at the hotel to pay the bill? ....... j) Why are you putting so much money in the bank ? ....... 1) Sorry, but it's not for sale. 2) I'm saving up to buy a new motorbike. 3) Perhaps we should try to economise a bit. 4) Yes, my Aunt Clara left it to me. 5) Well, we've nearly paid it all back. 6) To JB Woolbury PLC. 118

7) Actually I got it for nothing. 8) I think they accept travellers cheques anyway. 9) I've got quite a good salary actually. 10) Don't worry, we're insured. 5. Choose the most suitable word or phrase to complete each sentence.

a) I bought these shoes in the sales. They were a real.......... A) cheap B) economy C) bargain D) purchase b) If you put your money in the bank, it will earn ten percent.......... A) interest B) profit C) deposit D) investment c) John asked his parents if they would pay off his........... A) rents B) debts C) accounts D) credits d) Adults have to pay £2.50 to get in, but children under 14 get in.......... A) free B) nothing C) penniless D) open e) I'm interested in this old car. Is it..........? A) selling B) a sale C) to sell D) for sale f) I'm trying to save for my holidays so I'm.........some money each week. A) putting in C) putting behind B) putting aside D) putting up g) Just a minute! You've forgotten to...........your cheque! A) mark B) make C) place D) sign h) I like your typewriter. How much did it..........exactly? A) pay B) cost C) afford D) spend i) The blackmailer asked for the money in used............ A) notes B) cheques C) paper D) cash 119

j) I gave the assistant £10 and she gave me four pounds...... A) rest B) money C) coins D) change 6. Use the word in capitals at the end of each line to form a word that fits in the space in the same line.

MONEY! MONEY! MONEY! Helen had always dreamed of becoming a (1)........... WEALTH woman, and imagined living in a (2)..........mansion, LUXURY and how her friends would praise her (3)........... GENEROUS when she gave them expensive presents. In reality she was usually hard up. She had some (4)...........and a SAVE small life (5)........., but her antique shop was not really INSURE very (6)........Every time she took money out of the bank, PROFIT the (7)........checked her account, and told her how little CASH there was in it! Helen had taken out a (8)........a month LEND before. How could she repay it? Then one day she noticed an old painting in her shop. She had thought it was (9)...... WORTH but as she brushed away the dust, she saw the (10)......... SIGN at the bottom. It said 'Renoir'! She was rich at last! 7. Complete each sentence with a word or phrase formed from pay. Each space represents one word.

a) You can pay the full price now, or make six monthly.............. b) If you lend me the money, I'll.......... ............. ........... next week. c) I haven't got enough money to ......... ............. the suit now. d) We .......... ............ a lot of money on the decorating for this house. e) Whenever Alan loses a bet he refuses to .......... ............. . f) Thank goodness it's Friday today. It's ........... ............ . g) I must do something about all these.............bills. h) Please make the cheque...............R.D. Smith. j) Take this money and ........... ............. ......... to the bank. j) I like my job, and it's very ........... ............ .

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8. Decide which answer A, B, C or D best fits each space.

MONEY MATTERS Are you always (1).....up? Do you often have to (2).....money from friends, or from your parents, whenever you need a little extra (3).....? If you (4).....too much, and save too little, you will end up with more (5).....than friends. You know the solution, of course: just save a small (6).....every month. Most banks will pay (7).....on your savings, and you will soon be able to (8).....all those things which seemed to cost too much before. The trouble is, you're a university student, and many banks treat you like a child. But not us. If you open a/an (9).....with Smith Fulton Bank before October 31st, we'll not only send you your own (10).....book and credit (11)....., but you'll also receive a copy of our booklet 'Putting Money (12).....for Your Future'. Smith Fulton can pay your (13)....., help you with special student (14)....., and your friendly branch (15).....can give you advice for the future. We believe in you. Why not believe in us and open an account? 1) A) shut 2) A) borrow 3) A) cheque 4) A) sign 5) A) owe 6) A) amount 7) A) receipts 8) A) lend 9) A) cheque 10) A) loan 11) A) plastic 12) A) aside 13) A) sales 14) A) coins 15) A) miser

B) hard B) lend B) pension B) spend B) loans B) number B) credits B) economise B) customer B) cheque B) tip B) up B) bets B) loans B) swindler

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C) debt C) save C) wealth C) cost C) debts C) note C) rents C) afford C) bill C) cash C) card C) inside C) bargains C) fortunes C) manager

D) money D) pay D) cash D) cheat D) profits D) rest D) interest D) spend D) account D) money D) cheque D) work D) bills D) pensions D) cashier

9. Match each person from the list with a suitable description. Use each name once only.

accountant cashier heir agent customer investor

manager pensioner miser swindler

a) Someone who likes to keep money and not spend it. ……… b) Someone who inherits money or property. ............ c) Someone who runs a bank. ............... d) Someone who has retired. ............... e) Someone who keeps or checks financial records. .……… f) Someone who buys things in a shop. ............... g) Someone who pays out money in a bank. ............... h) Someone who represents others in business........... i) Someone who puts money into a business. ............. j) Someone who cheats people out of money. ............

MONEY AND SHOPPING18 1. Replace the words underlined with one of the phrases from the list.

in a sale pay you back save up second-hand be well-off annual income

in debt can't afford it

a) Kate's car was owned by someone else before her. __second-hand___ b) We're not going on holiday this year, because we are short of money. _________ c) Don't worry, next week I'll give you the money you lent me. ________ d) We decided to put money aside so we could buy a small boat. ________ e) I don't want to end up owing a lot of money to the bank. ____________ f) What exactly is the amount of your earnings every year? __________ g) I bought my CD-player when the prices were reduced. ______________ 122

h) Mary used to have a lot of money, but she wasted most of it. ________ 2. Choose the correct word or phrase underlined in each sentence.

a) Dora earns/gains/wins more money in her job than I do. b) The factory workers asked for a rise in their income/ reward/ wages. c) Paul borrowed/lent/loaned some money from me but didn't pay it back. d) I'm sorry, but we don't accept credit cards, only cash/coins/money. e) Is it all right if I pay with cheque/by cheque/from cheque? f) We don't exchange goods unless you still have the bill/cheque/receipt. g) I'm afraid I've only got a £50 note. Do you have change/money/rest? h) I still debt/owe/own the bank more than £5000. 3. Complete the shopping situations a) to h) with a remark from 1) to 8).

a) I can't decide whether to buy it or not, so I think .__6__ b) Have you got a pair like this in red? ____ c) Can I pay by credit-card? ____ d) Can I help you? No thanks, ____ e) That's £49.99, please. ____ f) Thanks very much for your help. ____ g) There isn't a price label on this shirt. ____ h) This computer looks difficult to use. ____ 1) Not at all, madam. It's a pleasure. 2) I'm just looking. 3) Could you explain how it works? 4) How would you like to pay? 5) We're out of stock at the moment. Sorry. 6) I'll leave it. 7) Sorry, we only accept cash or cheques. 8) How much is it? 123

4. Choose the most suitable word for each space.

SHOPPING IN THE STREET When I (1)..c.. shopping, I enjoy visiting street (2).....and looking for (3)......I wander around looking at each (4)....., and asking about (5)......Many (6).....on sale are less (7).....than those in high-street shops, though the (8).....is not always as good. It also depends on how much you want to (9)......Clothes areoften (10)....., but it is difficult to (11).....them on. It's always (12).....looking at second-hand books, because you can (13).....a lot of money in this way. Fresh fruit and vegetables are usually good (14)....., and there is always an excellent selection. The main problem is whether you can carry home lots of (15).....bags! 1) A) like 2) A) markets 3) A) values 4) A) counter 5) A) costs 6) A) produces 7) A) expensive 8) A) expense 9) A) spend 10) A) fashion 11) A) purchase 12) A) worth 13) A) borrow 14) A) health 15) A) hand

B) make B) trades B) cheaper B) table B) prices B) shopkeepers B) cost B) package B) use B) cheaper B) carry B) more B) spend B) value B) papers

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C) go C) shops C) special C) stall C) values C) offers C) priced C) kind C) make C) worn C) try C) been C) save C) time C) more

D) do D) sales D) bargains D) department D) figures D) goods D) cheaper D) quality D) cash D) logical D) wrap D) time D) count D) taste D) heavy

5. Complete the sentences with a compound word made from two words in the list. A word may be used more than once. Some compounds are written as one word.

account assistant bag bank book carrier cash cheques cut department desk money pocket price shop store traveller's window a) Most teenagers are given some ...pocket money …to spend by their parents. b) Pat saw the suit in the.................... and decided to buy it. c) Perhaps you left your wallet at the.............................when you paid. d) Jane buys all her CDs cheap in a/an.............................store. e) I bought the new novel by Richard Francis in my local ........... f) You can buy nearly anything in a big.............................. g) You can't write cheques unless you have a/an……………….! h) The.............................who served me helped me buy what I was looking for. i) When I go abroad I always take.............................with me. j) I brought my shopping home in a strong..............................

BUSINESS AND MONEY19 1. In each sentence choose one or more appropriate words.

a) Harry gains/gets/makes over £20 000 a year. b) Mary was awarded a grant/scholarship/subsidy to study child psychology. c) How much did you give/pay/take for your new car? d) Their house fetched/produced/sold for a lot more than they expected. e) I'm going to the bank to get out/remove/withdraw the money for the rent. f) The manager disappeared with the receipts/takings/wages from the concert. g) By the time Kate retired she was a fortunate/prosperous/wealthy businesswoman. h) We had a good holiday but it was rather costly/expensive/ valuable. 125

i) We would appreciate it if you would close/settle/pay your bill as soon as possible. j) Unfortunately the old painting I found turned out to be priceless/valueless/worthless. 2. Complete each sentence with one of the words given.

account company enterprise market price claim currency figures payment venture a) John became rich by playing the stock ................ b) We have decided to turn our business into a limited ................ c) This government believes firmly in the value of free ............... . d) I am interested in buying the property, but I find the ............... too high. e) I am saving money to make the down ............... on a new car. f) We put in an insurance ............... after our house was damaged in a storm. g) Everyone was impressed with the sales ............... for the new product. h) Margaret lost a lot of money in an unwise business ................ i) I keep most of my money in a savings................ j) Our company receives a lot of payments in foreign ............... . 3. Choose the most suitable word for each space.

Someone once described the age we live in as that of a vanishing world, one in which the familiar is constantly disappearing for ever and technological change is often difficult to (1) ............... with. So it should come as no surprise to most of us to hear that yet another part of everyday life is (2) ............... to go for ever. Still, when I read recently that within the next decade money as we (3) ............... it will probably cease to exist in technologically advanced countries, I had to read the article twice to make sure it wasn't April 1st. (4) ............... to Professor Gerry Montague of the Institute for Economic Reform, the familiar (5) ............... and banknotes will soon be replaced entirely by credit cards of various kinds. And the shop of the future (the 'retail 126

outlet' as Prof. Montague puts it) will be (6) ............... directly to the network of banking computers. The assistant will simply key in your bank account code number and the (7) ............... you have spent, and thank you politely. You won't have to dig deep in your (8) ............... for change or pretend at the pub that you have left your money at home. You may not even have a number for your (9) ............... as such, as the computer may by then be able to read your handprint. So no more credit card frauds (10) ............... But I am afraid that I shall (11) ............... money. I have felt strongly attached to it, ever since I received my first pocket money when I was five, and kept it in a money-box. Even if my credit card of the future will be able to tell me exactly how much (12)............ power I have left in the computer tiles, even if it lights up and plays a happy (or sad) tune at the same time, nothing will be able to replace the sheer pleasure I gained from (13) ............... the coins in my moneybox. Not to (14) ............... the other obvious problems which will be caused by (15) ............... of real money – like how to start a football match, for example! 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) 12) 13) 14) 15)

A) keep A) about A) earn A) Thanks A) banks A) taken A) money A) pockets A) wealth A) arrested A) miss A) more A) rattling A) tell A) a shortage

B) manage B) almost B) know B) Contrary B) coins B) alone B) charge B) wallet B) savings B) either B) spend B) financial B) withdrawing B) confront B) an expense

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C) cope C) ready C) use C) According C) change C) responsible C) cost C) cheque book C) account C) stolen C) waste C) economical C) estimating C) guess C) an absence

D) survive D) tending D) need D) Accustomed D) pence D) linked D) amount D) cash D) payment D) however D) borrow D) spending D) throwing D) mention D) a replacement

4. Match each sentence a) to j) with a sentence from 1) to 10) which has a similar meaning.

a) We have to haggle. b) We have a nice little nest-egg. c) We have high expenditure. d) We get in free. e) We are in debt. f) We are very thrifty. g) We are paid on commission. h) We want a rise. i) We lend money. j) We have a high income. 1) We spend a lot. 2) We don't waste money. 3) We let people borrow from us. 4) We earn according to what we sell. 5) We argue about the price. 6) We earn a lot. 7) We don't have to pay. 8) We need higher wages. 9) We owe money. 10) We have some savings. 5. Choose the most suitable word or phrase.

a) I inherited £10 000 in my uncle's ............... . A) legacy B) inheritance C) will D) testament b) The ............... price is always lower than the retail price. A) wholesale B) bargaining C) cut D) budget c) I still have three more ...............to pay on my motorbike. A) shares B) donations C) installments D) contributions d) We had to give the customs official a ............... not to inspect our suitcases. A) fee B) reward C) bonus D) bribe e) After my business failed, I was declared ...............by the court. A) profitless B) bankrupt C) insignificant D) uneconomical f) As soon as you buy a car, it starts falling in................ A) cost B) worth C) value D) price g) A multinational company has made a/an ...............to take over our firm. A) bid B) venture C) investment D) estimate

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h) We demanded pay rises to take account of the ...............of inflation. A) figures B) percentage C) price D) rate i) Things are going well. In fact, business is................ A) soaring B) booming C) leaping D) rolling j) I............... you don't make as much profit this year! A) assure B) challenge C) bet D) doubt 6. Replace the words underlined by one of the words given.

agenda chair expense handle takings bargain charge fortune income unavailable a) Sheila made a lot of money selling used cars. b) When Mark took his new job, his earnings nearly doubled. c) The cost of moving house was another problem for us. d) We need someone else to be in charge of the meeting. e) I am afraid this product is temporarily out of stock. f) We usually count the money we have made when the shop closes. g) Do you like my new dress? It was a very good price. h) We don't deal with goods of that kind in this company. i) Don't forget to draw up the list of items to be discussed for the next meeting. j) We make no request for payment for delivery in the London area. 7. Replace the phrase underlined in each sentence with one of the phrases given. Do not use any phrase more than once.

challenged the figures financial means make a wise investment come into a fortune free of charge on easy terms commercially viable in credit on expenses on the market a) We've decided to put our house up for sale. b) Jean has inherited a lot of money. c) At the meeting Peter said he thought the amounts were wrong. d) No one believes that the shop will ever be a business success. e) I am the possessor of a healthy balance at the bank. f) Sue and Jane went to S. America with everything paid for by their company. g) We don't believe you have the money to take over this company. h) All employees can stay at the hotel without paying. 129

i) We bought our new electric cooker by installments. j) Harry became rich after he managed to put his money in the right place. 8. In each sentence, replace one or more words with one of the words given, so that the sentence has an opposite meaning.

appreciate hard up prosperous rise wasteful dear make purchase squander worthless a) The precious stones our company mines are now known to be priceless. b) Nigel cannot get used to being an unsuccessful businessman. c) The company has decided the sell the premises in East Road. d) I like living in this part of town. Of course, it's very cheap! e) Jim inherited £20 000 and managed to save it all. f) We were poor when I was young and my father was very thrifty. g) At the moment house values tend to go down in this area. h) The workers were given a cut in wages when the takeover was announced. i) Nobody thought that the company would lose a lot of money. j) Richard's family is incredibly well-off.

____________________________________________________ SUPPLEMENTARY TASKS ☺ Sign in a restaurant: 'In God we trust. All others cash.'20 ☺ Son: 'What is a debtor, Pa?' Papa: 'A man who owes money.' Son: 'And what is a creditor?' Papa: 'A man who thinks he is going to get it.' 1. Choose the right answer.

1. When you retire at the age of sixty-five, you receive a(n) ..... from the government. a) allowance b) fine c) grant d) pension 2. If production in that factory exceeds the target, the workers get a ...... . a) bonus b) donation c) gratuity d) premium 3. Income tax is ..... to one's annual income. a) associated b) based c) dependent d) related 130

4. The ..... of living has risen by 25 % in the last six months. a) cost b) expenditure c) expense d) price 5. The kidnappers demanded a ..... of $ 1,000,000. a) fine b) penalty c) ransom d) reward 6. The World Bank has criticised the United States for not giving enough financial ..... to the East European countries. a) aid b) allowance c) loan d) premium 7. You can ..... your basic wage by working longer hours. a) effect b) help c) implement d) supplement 8. A salesman is paid a ..... on the goods he sells. a) commission b) percentage c) provision d) salary 9. The President admitted taking ..... and had to resign. a) bribes b) fees c) fines d) premiums 10. In our country ..... of $ 250 is paid weekly to a family with more than three children. a) an allowance b) a fee c) an income d) a wage 11. Mr Mean cannot bear to ..... even the smallest sum of money for a charity appeal. a) give in b) let out c) part with d) pay off 12. Mr Rich earns $ 8,000 a month ..... and $ 5 000 a month net. a) bulk b) gross c) mass d) wholesale 13. You can only ..... this postal order at a post office. a) alter b) cash c) exchange d) pay 14. If they are not more careful with their accounts, they will go ...... . a) bankrupt b) broken c) penniless d) poor 15. The Finance Minister will be making a ..... today about new rates of income tax. a) declaration b) notice c) statement d) talk 16. If I had another $ 25,000 a year, I would consider myself ...... . a) well deserved b) well done c) well-made d) well off 17. All the workers in our firm get a Christmas ..... of $ 100. a) bonus b) fine c) prize d) reward

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18. 'Can you ..... something for the orphans?' he asked, rattling a collecting-box. a) give b) leave c) provide d) spare 19. Before starting a business, you have to raise the necessary ...... . a) capital b) currency c) investment d) savings 20. The usual reason for exemption from tax does not….. in this case. a) apply b) concern c) impose d) regard 21. Mrs Unemployed is finding it difficult to pay the .…. on her insurance policy. a) bonuses b) fees c) fines d) premiums 22. Our company made a record ..... last year. a) benefit b) earn c) profit d) winning 23. While you are away from the office on business trips, you will be given a daily …. of $ 50 towards meals and accommodation. a) allowance b) fine c) permit d) reward 24. I hate the beginning of each year when all the ….. start coming in and I have to find the money to pay them all. a) accounts b) bills c) estimates d) receipts 2. Give the names for the defined money expressions. Each

'_' represents one letter. 1) a fixed amount which is paid, usually monthly, to workers of higher rank: a s _ _ _ _ _ 2) an amount of money which you lend to someone: a l _ _ _ 3) a sum of money which is owed to someone: a d _ _ _ 4) money which is in the form of coins and notes, not cheques: c___ 5) an amount of money you receive, usually weekly, in return for labour or service: a w _ _ _ 6) money paid by divorced father to his former wife for the upkeep of his children: a _ _ _ _ _ y 7) tax on imported articles paid to the Customs: _ _ _ y 8) paid at a restaurant after eating: a _ _ _ l 9) extra percentage paid on a loan: i _ _ _ _ _ _ _ 132

10) money paid for professional services, e.g. to a doctor: f__ 11) money paid by the state, usually to students: a g _ _ _ _ 12) money paid by a company or the state on your retirement: a p______ 13) paid as a punishment for breaking the law: a f _ _ _ 14) paid to the government for services that the state provides: ____s 15) paid while travelling, especially on public transport, buses, trains, etc.: a f _ _ _ a

3. Put each of the following words or phrases into its correct place in the text below

banks beads buy change depositing earn exchange rate paper bills savings accounts sell

coins goods shells

currency investments value money

MONEY Money is what people use to ...... things. People spend money on ..... and services. Many people save part of their money by ..... it in a bank. People ..... money by performing services. They also earn money from ..... , including government bonds, and from ..... . . ..... can be anything that people agree to accept in exchange for the things they ..... or the work they do. Ancient peoples used such varied things as ...... , ...... , and cattle as money. Today, most nations use metal coins and ..... . Different countries' ..... and bills look different and have different names. A person can ..... his money for the money of any country according to the ..... . Usually, such rates are set by the central ..... of a country. The ..... of a country's ..... may change, depending on the economic and political conditions in that country. 4. Match the definitions with the correct money word.

1. an allowance 2. a bonus

3. commission 4. a deposit 5. a dividend 6. an investment 7. a legacy 8. maintenance 9. an overdraft 10. a premium 11. royalties 12. a share 13. a mortgage a) money paid to authors or inventors according to the sale of their work b) a sum of money used to make more money from something that will increase in value c) the money which a building society or bank lends to someone to buy a house d) the money that a person pays to an insurance company to protect against loss or damage e) money, usually from a relative, to live on f) an additional payment which is a reward to those who work for a company for their extra work g) the amount of money borrowed from a bank, greater than that which is in your account h) money received from someone in his or her will i) the amount of money that goes to a shareholder j) money paid by divorced or separated people to support the former husband or wife k) part of the value of a company that you may buy 1) part-payment of money which you make to stop the seller from selling his goods to others m) an amount of money, related to the value of goods sold, which is paid to a salesman for his services 5. Choose the correct answer.

1. The going ..... for the job is $ 7 an hour. a) pay b) price c) rate d) wage 133

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2. When you buy a house you can claim tax ..... on the mortgage. a) aid b) assistance c) benefit d) relief 3. Inflation is the first problem that the new government will have to ..... . a) clasp b) grasp c) seize d) tackle 4. Mr Teenager's ..... will be held in trust for him until he is 21. Then he will be free to spend it. a) dowry b) heirloom c) heritage d) inheritance 5. When the company was declared bankrupt, all its fixed ..... were claimed by its creditors. a) assets b) benefits c) funds d) sums 6. Our country has never had a large ..... in its balance of payments. a) abundance b) addition c) overflow d) surplus 7. Miss Cheating is in trouble because she has not paid her National Insurance ..... for ten years. a) contributions b) subscriptions c) subsidies d) tributes 8. People in financial difficulties sometimes fall ..... to unscrupulous money lenders. a) fool b) prey c) sacrifice d) scapegoat 9. Because Mr Sacked has just lost his job, his aunt's legacy came as a useful ..... . a) advantage b) benefit c) profit d) windfall 10. The government has introduced ..... currency controls which will make it more difficult to holiday abroad. a) extreme b) striking c) stringent d) strong 11. If you don't complete your income tax ..... , you may have to pay more than is necessary. a) account b) document c) report d) return 12. As a result of increased productivity, the workers received a ..... pay increase. a) fundamental b) palpable c) substantial d) tangible 13. $150? $250? Let's ..... the difference and say $200. a) agree b) avoid c) decrease d) split 14 Newly ..... coins always look clean and shining. a) minted b) moulded c) pressed d) printed

15. For some jobless people, joining the ..... queue is a humiliating experience. a) benefit b) dole c) grant d) ration 16. If a man is legally separated from his wife, is he still ..... for her debts? a) answerable b) bound c) chargeable d) liable 17. The two men ..... a coin to see who should take care of the business on the weekend. a) hurled b) lobbed c) threw d) tossed 18. No-one knows precisely how much she earns a month, but $ 4,000 can't be very ..... of the mark. a) broad b) distant c) far d) wide 19. The ..... between the rich and the poor is very evident in the Western World. a) deviation b) differentiation c) difference d) distance 20. The salary is $ 35,000 per annum, with annual ..... of $2,000 for five years. a) annexes b) bonuses c) increments d) prizes 21. The government's policy is to ..... firms in trouble to prevent unemployment. a) contribute b) endow c) grant d) subsidise 22. Being a teacher, I shop at stores which offer a ..... to teachers. a) deduction b) discount c) rebate d) subsidy 23. Share prices on the Stock Exchange plunged sharply in the morning but ..... in the afternoon. a) recovered b) regained c) restored d) retrieved 24. The firm will go bankrupt if it cannot meet its ...... . a) charges b) duties c) liabilities d) promises 25. Mr Businessman needed $ 10,000, but as his capital was ..... up in shares, he borrowed it from his bank. a) bound b) knotted c) locked d) tied

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6. Complete. Each '_' represents one letter.

1. I spend about $ 1.5 a week on bus _ _ _ es. 2. I had to pay _ _ _ _ on the Turkish carpet I brought in through the Customs yesterday.

3. Now that Mr Old has retired, he lives partly on his _ _ _ s _ _ _ and partly on the _ _ t _ _ _ _ _ from his post office savings account. 4. In spite of its size his family was quite _ _ _ _ off, because he brought in a good _ _ l _ _ _ . 5. Gold would be a good _ _ v _ _ _ _ _ _ t; it's bound to increase in value. 6. Due to inflation the _ _ _ _ _ _ _ _ of living went down by fifteen _ _ _ c _ _ _ . 7. I couldn't buy the house because the bank refused to let me have a m _ _ _ _ _ g _ . 8. If you borrowed money from him, you are under an _ _ 1 _ _ _ _ _ _ _ to give it back. 9. You must stop wasting your money on silly things and start _ _ v _ _ _ . This is the only solution to your _ _ n _ _ _ _ _ _ troubles. 10. One dollar is _ _ u _ _ to over 30 roubles. 11. The main advantage of a _ _ _ _ u _ book or _ _ _ d _ _ card is that you don't have to carry cash around with you. 12. I carry loose change in my pocket and _ _ _ _ s in my leather _ _ 1 _ _ _ .

FILES FILE 1 MONEY, MONEY, MONEY (from the musical: Cabaret) M.C. and SALLY: Money makes the world go round The world go round, the world go round Money makes the world go round It makes the world go round A mark, a yen, a buck or a pound A buck or a pound, a buck or a pound Is all that makes the world go round That clinking, clanking sound Can make the world go round Money, money, money, money Money, money, money, money Money, money, money, money, money If you happen to be rich and you feel like a night's entertainment You can pay for a gay escapade If you happen to be rich, and alone, and you need A companion, you can ring tingaling for the maid If you happen to be rich and you find you are left by your lover Tho you moan and you groan quite a lot You can take it on the chin Call a cab, and begin to recover on your fourteen carat yacht Money makes the world go round The world go round, the world go round Money makes the world go round Of that we both are sure On being poor

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Money, money, money, money Money, money, money, money Money, money, money, money, mon When you haven't any coal in the stove and you freeze In the winter and you curse to the wind at your fate When you haven't any shoes on your feet And your coat's thin as paper And you look thirty pounds underweight When you go to get a word of advice from the fat little pastor He will tell you to love evermore But when hunger comes to rap, rat-a-tat, rat-a-tat At the window, see how love flies out the door For money makes the world go round The world go round, the world go round Money makes the world go round The clinking, clanking sound of money Money, money, money, money, money, money, money Get a little, get a little Money, money, money, money Mark, a yen, a buck or a pound That clinking, clanking, clunking sound Is all that makes the world go round It makes the world go round FILE 2

Money is like promises – easier made than kept. (Josh Billings (1815–1885)) A man's true wealth is the good he does in the world. (Mohammed (570–632 A.D.)) Money can't buy happiness but it will get you a better class of memories. (Ronald Reagan (1911–2004) Whoever said money can't buy happiness didn't know where to shop. (Gertrude Stein (1874–1946)) Money is of no value; it cannot spend itself. All depends on the skill of the spender. (Emerson (1803–1882)) There is no fortress so strong that money cannot take it. (Cicero (B.C. 106-4)) The lack of money is the root of all evil. (George Bernard Shaw (1856–1950)) From saving comes having. (Scottish Proverb) There are no pockets in a shroud. Money is round. It rolls away. (Sholem Aleichem (1859–1916)) Money is the root of all evil and a man needs roots! If you lend someone $20, and never see that person again, it was probably worth it. For more quotations see http://www.quotations.com/money.htm FILE 3 Plan for a composition: INTRODUCTION Paragraph 1: state topic MAIN BODY Paragraph 2: Paragraph 3:

arguments for and justification arguments against and justification

CONCLUSION Final paragraph:

balanced consideration, opinion

Wealth consists not in having great possessions, but in having few wants. (Epicurus (B.C. 341–270)) A light purse is a heavy curse. (Franklin (1706–1790)) You can live well if you're rich and you can live well if you're poor, but if you're poor, it's much cheaper. (Andrew Tobias (b. 1947)) It isn't enough for you to love money – it's also necessary that money should love you. (Baron Rothschild (1840–1915))

(If you feel there are more arguments for than against a topic, give those before the final paragraph to lead the reader to a proper conclusion).

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Paragraph Plans for Argumentative Essays Introduction

Main Body

Conclusion

AdvanParagraph 1 tages/ Dis- state topic advantages

Paragraph 2 advantages/ arguments for

Paragraph 3 disadvantages/ arguments against

Final Paragraph give a balanced consideration or opinion without using personal words or expressions

Expressing Paragraph 1 state opinion opinions

Paragraph 2 argument 1 and reason

Paragraph 3 argument 2 and reason

Final Paragraph restate opinion using different words

Providing solutions

Paragraph 1 Paragraph 2 state the problem suggestion 1 and reason

Paragraph 3 suggestion 2 and reason

Final Paragraph summarise opinion or give best suggestion and reason

Discursive essays

Paragraph 1 state topic

Paragraph 3 another point of view (e.g. economic)

Final Paragraph give your own opinion based on the points already mentioned

Paragraph 2 one point of view (e.g. political)

FILE 4

I LEFT ENGLAND WITH £5 AND NOW I'M A MULTI-MILLIONAIRE! A British woman who began a new life in Australia with just £5 in her pocket a few years ago has sold her business for a huge amount of money. Cherry Haines, 39, who once worked as a market stallholder, made all of her fortune from marketing a new kind of make-up. She left England because there weren't many jobs, caught a flight to the other side of the world, and arrived without any qualifications. She only knew two people. 141

'The flight cost £1,500, which left me penniless. At first I stayed with a friend. Then I had a bit of luck.' The friend gave her the name of Peter Maddox, an Australian businessman. 'I rang him and told him I was the best salesperson in England and that he should give me a job.' He liked her idea for a sort of make-up that stays on all day, so together they formed a company to market it. At first she was earning just A$10,000 a year, but later she was getting a great deal of money every year. 'Hard work means happiness to me,' she said. Her brother, Roger Haines, who is spending several weeks with her in Brisbane, said 'She left school when she was 16. She had very little work experience. But she could sell a fridge to an Eskimo. Ambition has led to success.' 1. How much money did she have when she left England? 2. When did she leave England? 3. How much has she sold her business for? 4. Why did she leave England? 5. Did she have any qualifications? 6. Did she have many friends? 7. How much did she pay for her flight? 8. How much did she earn at first? 9. How much did she earn later? 10. How long is her brother staying with her? 11. What did he say about her work experience? FILE 5 Winning the lottery QUIZ (answers): (1) c; (2) b; (3) b; (4) a; (5) a; (6) b; (7) c; (8) b. FILE 6 The Numbers Game for Team B Look at the exchange chart. Play in teams of four to six students. Team A asks Team В six questions. Then Team B asks Team A six questions. Score points.

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Currency US. $ Aust $ U.K. £ Last N/A Jan 8 Jan 8 Trade

Can $ Jan 8

DMark Jan 8

FFranc Jan 8

SFranc Jan 8

Euro Jan 8

U.S. $

1

0.6348

1.645

0.6614

0.5929

0.1768 0.009013 0.7195

1.159

Aust $

1.575

1

2.591

1.042

0.934

0.2785

0.0142

1.133

1.826

U.K. £

0.608

0.386

1

0.4021

0.3605

0.1075

0.00548

0.4375

0.7049

Can $

1.512 0.9598

2.487

1

0.8964

0.2673

0.01363

1.088

1.753

DMark

1.687

1.071

2.774

1.116

1

0.2981

0.0152

1.214

1.955

FFranc

¥en Jan 8

5.657

3.591

9.304

3.742

3.354

1

0.05099

4.07

6.559

¥en

111

70.43

182.5

73.38

65.78

19.61

1

79.83

128.6

SFranc

1.39

0.8823

2.286

0.9192

0.824

0.2457

0.01253

1

1.611

0.8625 0.5475

1.419

0.5705

0.5114

0.1525 0.007774 0.6206

Euro

1

Team B's Questions: 1. A tourist has 100 Canadian dollars and 100 Australian dollars. He wants to change them into French francs. Will he get more francs for the Canadian money or for the Australian money? 2. In a duty-free shop at an airport, a tourist sees two items she would like to buy. One costs two French francs, and the other costs two Swiss francs. Which item costs less? 3. Two tourists came back from a trip to Europe. One had 100 German marks. The other had 100 Australian dollars. In terms of absolute value, who had more money? 4. A tourist had only 1,000 yen. He wanted to buy something that cost 20 U.S. dollars. Did he have enough money? 5. Will it take fewer British pounds or U.S. dollars to purchase something? 6. A German tourist wants to buy something that costs 10 Australian dollars. He has only travelers checks in denominations of 10 marks each. How many travelers checks will he have to change?

MONEY SONGS T 18 ABBA. MONEY, MONEY, MONEY

(B. Anderson & B. Ulvaeus) I work all night, I work all day, to pay the bills I have to pay Ain't it sad And still there never seems to be a single penny left for me That's too bad In my dreams I have a plan If I got me a wealthy man I wouldn't have to work at all, I'd fool around and have a ball... Money, money, money Must be funny In the rich man's world Money, money, money Always sunny In the rich man's world Aha-ahaaa All the things I could do If I had a little money It’s a rich man's world A man like that is hard to find but I can't get him off my mind Ain't it sad And if he happens to be free I bet he wouldn't fancy me That's too bad So I must leave, I'll have to go To Las Vegas or Monaco And win a fortune in a game, my life will never be the same... Money, money, money Must be funny In the rich man's world Money, money, money Always sunny In the rich man's world

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Aha-ahaaa All the things I could do If I had a little money It's a rich man's world Money, money, money Must be funny In the rich man's world Money, money, money Always sunny In the rich man's world Aha-ahaaa All the things I could do If I had a little money It’s a rich man's world It’s a rich man's world

LIST OF MONEY WORDS AND EXPRESSIONS

T 19

The Beatles. CAN'T BUY ME LOVE, LOVE (John Lennon & Paul McCartney) Can't buy me love, love Can't buy me love I'll buy you a diamond ring, my friend, if it makes you feel alright. I'll get you anything, my friend, if it makes you feel alright. 'Cause I don't care too much for money, money can't buy me love I'll give you all I got to give, if you say you love me too. I may not have a lot to give but what I got I'll give to you, I don't care too much for money, money can't buy me love. Can't buy me love, everybody tells me so, Can't buy me love, no no no, no. Say you don't need no diamond ring and I'll be satisfied, Tell me that you want the kind of thing that money just can't buy. I don't care too much for money, money can't buy me love

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A 1. Accounts – financial records showing how much money a person or organization has earned, spent in a fixed period of time 2. Blackmail – force a person to make a payment of money for not making known smth to harm his character 3. Bribery – giving or taking of bribes (smth given, offered, or promised in order to persuade or influence a person (often to do smth wrong) 4. Cash – coins and notes 5. Debt – the amount which one person owes to another one 6. Forgery – the production of false coins and notes 7. Interest – you receive a percentage of money on top of the money you're saving in a bank 8. Loan – a sum of money which someone borrows for a fixed period of time 9. Profit – the money you take by selling smth at a higher price than you bought or made it for 10. Quid – pound (Br. slang) 11. Wages – the money earned by people who have got jobs, may go up (a wage rise), or down (a wage cut) B Expressions a money box = a piggy bank – копилка hush money – плата за молчание mad money – небольшая сумма денег, припрятанная (особ. женщиной) для непредвиденных или мелких расходов pin money – карманные деньги old money – потомственное богатство to be / hard up (short of money) – испытывать нехватку денег to be broke (penniless) – быть бедным, без гроша to get / pay a ransom – получить/заплатить выкуп за to have money to burn – денег куры не клюют to coin money – быстро богатеть, наживаться 146

to marry wealth / money – выйти замуж за богатого, жениться на богатой to throw good money after bad – тратить деньги впустую to live beyond one's means – жить не по средствам to live within one's means – жить по средствам money makes money – деньги к деньгам

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REFERENCE LIST 1. Ideas & Issues Advanced by M. Hunt, 2000. P. 32–33. 2. New Headway English Course / by Liz & John Soars. Upper Intermediate. Oxford University Press, 1998. P. 101–104. 3. North Star. Focus on Reading and Writing. Basic. By Elizabeth Maher, Natasha Haugnes. 1998. P. 42–59. 4. New Headway English Course / by Liz & John Soars. Intermediate. – Oxford University Press, 1996. P. 80–82. 5. Streamline. Destinations by B. Harttley–Viney P. Oxford University Press; Unit 15. 6. Synthesis Plus by W.S. Fowler, 1993. P. 107–108, 110. 7. Inside Out by Sue Kay & Vaughan Jones with Jon Hird & Philip Kerr. Upper Intermediate. Macmillan Heinemann English Language Teaching, 2001. P. 24–33. 8. New Headway English Course / by Liz & John Soars. Upper Intermediate. Oxford University Press, 1998. P. 38–39, 58–59. 9. New Headway English Course / by Liz & John Soars. Upper Intermediate. Oxford University Press, 1998. P. 58–59. 10. Inside Out by Ceri Jones & Tania Bastow with Jon Hird. Advanced. Student’s Book. Macmillan Heinemann English Language Teaching, 2001. P. 44–47, 118–123. 11. First Certificate PassKey by Nick Kenny. Macmillan Heinemann English Language Teaching, 1996. P. 167. 12. Глушенкова Е.В., Комарова Е.Н. Английский язык для студентов экономических специальностей. М: ООО «Изд-во АСТ»; ООО «Изд-во Астрель», 2002. С. 127–140. 13. Focus on Grammar by Jay Maurer. Advanced Course. – Longman, 2000. P. 152–154, 160–167. 14. Шевелева С.А. Английский для юристов. М., 1999. С. 114–130, 163–174. 15. Тимошина А.А., Микша Л.С. «English of Modern Economics». М., 2000. С. 127–157. 16. Старикова Е.Н., Нестеренко Н.Н. British Press: Advanced Reading. Киев: ТОО «ИП Логос», 2001. С. 251–252. 17. First Certificate Language Practice by M. Vince – Heinemann ELT. P. 245–248. 148

18. Intermediate Language Practice by M. Vince – Heinemann ELT. P. 207–209. 19. Advanced Language Practice by M. Vince – Heinemann ELT. Unit 30. 20. Mariusz Misztal Tests in English. Thematic Vocabulary. Intermediatwe and advanced level. Warszawa 1996. № 279–284.

Учебное издание

Составители Светлана Борисовна Невежина Светлана Дмитриевна Оськина

ДЕНЬГИ MONEY Учебное пособие по развитию навыков профессионального общения

Технический редактор Н.В. Москвичёва Редактор О.А. Сафонова Дизайн обложки З.Н. Образова Подписано в печать 22.02.06. Формат бумаги 60х84 1/16. Печ. л. 9,38. Уч.-изд. л. 9,4. Тираж 150 экз. Заказ 66. Издательство Омского государственного университета 644077, Омск-77, пр. Мира, 55а, госуниверситет

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