Salary, wages, charges, fees, fare, tip, commission, payment, bonus.

1) The taxi... was $18 and 1 gave the driver a $2...

2) When you purchase over 200 pieces, delivery is free of...

3) The builders receive their weekly... in cash.

4) In addition to your basic... you will receive a 25%... on all goods sold.

5) She's a good accountant but her... are high.

6) This mechanic's... for the service he provides are reasonable.

7) I am very well paid and I have a productivity...

5. a. The words in the list are used to describe forms of money. Which are countable? Which are uncountable?

Wage salary pay savings pension interest cash pocket-money

b. Choose a word from the list above to complete the sentences below.

1. He earns a lot of..............................on the money he has invested.

2. How much...........................does she give the children?

3. Both parents need to be.........................earners nowadays.

4. What I really want to know is what will be in my..................... packet every month.

5. Will you pay in....................or by credit card?

6. Most of my monthly..............................goes on paying the bills.

7. In my country both men and women get their.........................at 60.

8. Paying for the car to be repaired has really eaten into his.................

 

6. Decide which phrase correctly finishes each sentence.

1) If you lend money	a) you owe me money b) I owe you money
2) If I borrow money from you	a) you should pay me back b) I should repay you
3) If you can't afford things	a) you can borrow money from me b) you can lend me money
4) If I sell something for more than I paid for it	a) I have made a loss b) I have made a profit
5) If I purchase something and pay more than it's worth	a) I will probably make a loss when I sell it b) I will probably make a profit when I sell it

7. Fill in the missing words and word combinations to the following sentences.

 

1. Money has no value in itself but serves as a......... between commod­ities which we consider to be valuable for us.

2. Governments are supposed to... essential foods to meet the needs of the population in case of emergency (в случае крайней необходимости, в чрезвычайных обстоятельствах).

3. Economists...... productive and unproductive labour.

4. Typically, consumers buy more of everything. However, there are.... Among... there are inferior goods.

5. Money as a......... lets people determine prices for goods and services and... them conveniently and less wastefully in a market rather than... one good directly for another as in barter....

6. A firm that has borrowed to see it through a sticky period (зд. помочь пережить тяжелые времена) may not be able to......... when the bank demands.

7. When transferred from one bank... to another, money does not consist of any physical commodity.

8. Four Swedish ports are free trade zones where goods may be... duty-free for an unlimited period of time.

DISCOVERING LANGUAGE

1. Fill in the missing prepositions to the following sentences:

1. I paid… the dinner last night.

2. When can you pay me… the money I lent you?

3. Would you like to pay… cash or… credit card?

4. I spent?50… books yesterday.

5. I don't like lending money… friends.

6. I borrowed a lot of money… the bank.

7. They charged us?60… a bottle of wine.

8. All bank-notes and coins must be accepted… their full nominal value without restriction.

9. Bank-note paper can easily be distinguished …ordinary paper.

10. We know a great variety … commodities to have been usedat one time or another as a medium of exchange.

11. Cheques and credit cards are known tohave becomemore popular … re­cent years than paper money and coins.

12. New technologies are said to haveallowedpeople with bank accounts to pay … their purchases in shops through videotext TV.

13. The Moscow Interbank Currency Exchange is known to have provideda basis for determining the exchange rate … rouble … other currencies in the 1990s.

14. Russia's gold reserves were reported to be constantly falling …the early 1990s.

2. Complete the sentences with the verbs given below in the correct tense.

Be worth borrow inherit invest lend can't afford charge owe save take out cost earn waste

1. My uncle died and left me £2000. 2. I put some money aside every week for my next holiday. 3. I asked my brother to give me? 10 until next week. 4. My brother gave me? 10 until next week. 5. I often spend money on stupid things. 6. I don't have enough money to buy that car. 7. I had to pay the mechanic £100 to repair my car. 8. I went to the cash machine and got? 200. 9. I bought a book. It was $25. 10. Jim gave me £100.1 haven't paid it back yet. 11. I bought some shares in British Telecom. 12. I work in a supermarket. They pay me? 2000 a month. 13. I could sell my house for about? 200,000.

I__________ £2000 from my uncle. I__________ money every week.   I___________? 10 from him.   He_________me?10.   I often________ money. I_____________to buy that car.   The mechanic____________me £100.   I_________? 200 from the cash machine. The book___________(me) $25. I________________ Jim £100.   I______________ some money.   I______________?2000 a month.   My house_______about?2000.

3.a. Shelley and Ben are having an argument about money. Read what Shelley says and complete the dialogue with Ben's answers from the box below. Then try to guess his last answer.

a. We've had it for at least three years. Maybe longer. b. It's old. c. No. What is it? d. Why not? e. Yes. I've just bought it. f. I can't.

 

Shelley: Is that a new camera?

Ben: 1….

Shelley: What's wrong with our old camera?

Ben: 2…

Shelley: Old? How long have we had it? A year?

Ben: 3…

Shelley: Three years? I'm sure we bought it last year. Look. We can't afford a new camera.

Ben: 4…

Shelley: Have you seen this?

Ben: 5…

Shelley: The gas bill. It arrived this morning. And we haven't paid the phone bill yet. Take it back to the shop and get your money back.

Ben: 6…

Shelley: Why not?

Ben: Because...

 

b. In pairs, read the dialogue again and underline five examples of the present perfect and two examples of the past simple. Then answer the questions: ‘Which form of the verb do we use for...?’

1. a completed action in the past.

2. things which started in the past and are true now

3. recent actions when we don't say exactly when

4. recent actions when we say exactly when

 

LISTENING

1. You are going to watch an episode "Money, Currency, Banknotes” of the video film ” Economics made easy ”. Here are some words that might seem unfamiliar to you:

 

• tender -средство платежа, legal tender -законное платежное средство

• minter - чеканщик, монетный мастер; mint of money -куча денег

• shopkeeper - лавочник

• currency - деньги, валюта, средство обращения

• rate -курс, цена; at the rate of - в размере, по курсу; foreign exchange rate - курс иностранной валюты

• revalue -переоценивать, повышать стоимость; revaluation - повышение стоимости, ревальвация

2. As you watch the episode, note down some words and terms you'll hear and be ready to answer the following questions:

1. What kind of old money is mentioned in the text?

2. Does the shopkeeper accept a coin from the buyer?

3. Is this old coin a legal tender? What is the legal tender?

4. What types of currencies were shown in the episode? What is the currency of Germany nowadays?

5. What will a man do if he wants to buy a car, coming from another country?

6. Is the situation different when in one of the countries too much money is printed?

7. What does the term revaluation mean? By whom is this currency exchange normally provided?

 

FOCUS ON FUNCTIONS

1. Study the language of Money and Currencies:

· In Great Britain the currency used is the pound sterling. (£)

In the USA (and many other countries) the currency is the dollar. ($)

£1 = 100 pence (p): $1 = 100 cents (¢)

Note that the sign goes before the figure.

· When speaking about sums of money we say:

$1.35 - a dollar thirty five (or one thirty five)

$3,000 - three thousand dollars

five cent coins - nickels

ten cent coins - dimes

twenty-five cent coins - quarters

fifty cent coins - half dollars

50p - fifty p, fifty pence (not * pences)

£ 1.99 - one (pound) ninety nine

Note that we do not add 'and' between the figures representing pounds/dollars and pence/cents.

Nor do we mix figures and words; the following are wrong:

Not * £ 39 ninety nine £ Twenty five 457 dollars

· The separation of units of a thousand can be made by using a comma (,) or with a blank:

$ 365,027,968.80 = three hundred and sixty five million twenty seven thousand

nine hundred and sixty eight dollars eighty cents.

· A sum of money is used with a verb in the singular:

These days £50,000 is not a large sum of money.

Why was US $115.69 paid in addition to the ocean freight?

· It is now common to see the abbreviation K. (а hundred thousand dollars)

$ 100K (a hundred thousand dollars)

· Countries using dollars include:

USA Australia Canada Hong Kong New Zealand Singapore Taiwan

· Countries using pounds include:

UK Ireland Egypt Malta

· Countries using euro include:

Germany France Spain Belgium Switzerland Luxemburg etc.

2. Write these out as you would say them.

1. $ 1.45

2. £ 8.50

3. $ 199,000

4. £ 352.29

5. $75.50

6. £225,000,000

7. 89 p

8. $354.50

3. A British tour operator has costed a package holiday in Spain at £650. This calculation is based on £1 = 200 pesetas. However, as a result of a recent fluctuation in the exchange rate £1 now equals 190 pesetas.

· How much will the tour operator want to charge?

4. US firm agrees to purchase pharmaceutical products from West German supplier for?100,000, payment to be made 90 days after delivery. On the day of the agreement the exchange rate was $ 1 =? 0.76. Over the next 90 days the dollar falls to $1 =0.67.

· How much will the American firm have to pay?

SPEAKING

1. Write down the approximate price of six things in your country, e.g. daily newspaper, a short bus journey, a cup of coffee in a bar / cafe, a ticket for the cinema, a takeaway hamburger, a pair of jeans, etc. Do you think the price is expensive, reasonable or cheap? Compare your answers with someone from the same city, and if possible, someone from a different country.

2. Work in pairs. Discuss the following questions:

a. There are lots of different ways you can get money. Here are five: earn it, steal it, win it, inherit it, find it

Of these five, which are the most common?

b. There are also lots of things you can do with money. Here are six: spend it, give it away, invest it, save it, waste it

Of these six, which give you the most pleasure and happiness? Put them in order.

3. Interview each other with the questionnaire. Ask for more information.

e.g. -Have you ever wasted money on something you've never used?

-Yes, I bought an exercise bike.

-Why did you buy it?

The Money Questionnaire

Have you ever…?

(waste) money on something you've never used

(sell) anything on the Internet

(lose) a credit card or your wallet

(save) for something for a long time

(win) any money (e.g. in a lottery)

(be) robbed

(lend) money to someone who didn't pay you back

Have you…recently?

(buy) anything on the Internet

(be) to a shopping mall or a shopping centre

(buy) anyone a present

(use) a credit card

(take) money out of a cash machine

(borrow) money from someone in your family

 

4. British students spend their money on different things. Here are three of them: Susanne, Charlie and Matthew. Read the information and conduct a survey among your friends to see what Belarusian students spend their money on.

Susanne has been getting £10 every week from pocket money, presents a small weekend job. Charlie's been getting £12 - most of it from a weekend job. Matthew has been getting £4 pocket money.

Susanne: I don't spend anything on alcohol or cigarettes because I don't smoke or drink. I usually spend about £1.00 on make up and I put £2.50 toward to holiday. I love horse-riding and I go on a riding holiday each summer with a friend, go on holiday with my family too but they pay for it. The riding is an extra holiday so I pay for it myself. I spend about £3.50 when I go out to the cinema or the sport center. It's difficult to find something cheap to do at the weekend! I buy a CD every two weeks - they cost £6.00.

Charlie: My holiday is football - I play in a team and I go to watch big football matches; it costs about £2.50 a week. I usually spend something on clothes about £3.00 and I like to buy a CD every week. If I'm lucky I save something usually about 50p a week!

Matthew: I don't save anything. I spend everything on going out. My parents buy my clothes and pay for holidays and everything like that. I don't smoke or drink.

5. Think and share your impressions with your partner:

· Why are goods 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?

WRITING

1. You have received a letter from your foreign friend. Write a reply to him answering all his questions.

 

1. What do you spend your money on?

2. How much does a doctor (teacher) earn in your country?

3. Do you save any money? If so, how (in a bank, cash)?

4. Is it easy to open a bank account in your country? How much do you need to start?

5. Do you owe money? Who to? When will you pay back the money?

6. Is there anything you want to do but can't afford doing?

7. Do you often lend money? Who do you lend it to?

8. Do you often borrow money? Who do you borrow it from?

9. Are you in debt/broke/hard-up/ or well-off?

10. How much do you need to make ends meet?

11. Do people in your country receive a state pension when they are old?

12. What bills do you have to pay?

13. How much pocket money did you receive when you were a pupil?

14. In your country, what percentage of a person's income is taken in taxes?

2. Write an essay on the topic ‘My attitude to money’. Which of these sentences best describe your attitude to money?

· All I want is enough money to enjoy life.

· Money is very important to me. I’d like to earn as much as possible.

· I would be happy to live with less money and fewer possessions.