Progress text (15 April)Units covered by the 1st progress test:The Business Cycle(causes, Keynesianism and monetarism, graph

description)

Trade(retail, wholesale, e-commerce, international trade,

free trade & protectionism, EU)

Banking(types of banks, banking services, microfinance,

central banking, monetary policy, crisis of credit)

+ language of meetings

REPORT WRITING TASK

Describing graphs

Revision: verbs, nouns, adverbs, adjectives

Translate:1) U ožujku je vrijednost dionica naglo pala.

2) Prihod je potonuo ispod 1.000.000 EUR.

3) Cijene zlata dosegle su najnižu točku 2010.

4) Očekujemo skok cijena nafte.

5) Porezi su postupno rasli.

6) Zabilježili smo dramatičan uzlet cijena nekretnina.

• Stock value suddenly DROPPED in March.

• In March the value of stocks FELL rapidly.

• The revenue SANK below EUR 1.000.000.

• The revenue PLUNGED below EUR 1.000.000.

• Gold prices REACHED the trough in 2010.

• Gold prices BOTTOMED OUT in 2010.

• We are expecting a JUMP / a SURGE in oil prices.

• Taxes DROPPED / FELL / DECREASED gradually.

• We recorded a dramatic SURGE in real estate prices.

Describing graphs PREPOSITIONS, RB, 33-34

Exercises I & II

Describing movements and prepositions

• to rise ______ 2 h ___ 5 h• to increase _____ 35 % (verb + ?)• a decrease ____ 10 % (noun + ?)• an increase ____ 15%• to decrease ____ 46%• to fall _____ 20 % ____ 13 %• to fall ____ $3 h ___ $2 h• The company expects a 5% increase ___ sales.• Sales stood ___ $1 m ___ 1998.• The sales figures peaked ___ $1,000.

from to

by

of

of

byfrom to

from to in

at in

at

Describing movements and prepositions

• to rise from 2 h to 5 h• to increase by 35 % / by 3 (from 2 to 5)• an increase of 15%• a decrease of 10 %• to decrease by 46% / by 2 (from 10 to 8)• to fall from 20 % to 13 %• to fall from $3 h to $2 h• The company expects a 5% increase in sales.• Sales stood at $1 m in 1998.• The sales figures peaked at $1,000.Careful: rast od 5% je an increase of 5% noun + ofporasti za 5% nije to increase for 5% nego:

to increase by verb + by

Prepositions:TO, OF, BY, FROM, IN, AT

• It will rise .... $5 and go .... $20.

• The price is stable .... 15$.

• This is an increase .... $5 ... the price.

• This is a $5 rise .... the price.

• Sales have grown ... 2%.

Prepositions: TO, OF, BY, FROM, IN, AT

• It will rise BY $5 and go TO $20.• The price is stable AT 15$.• This is an increase OF $5 IN the price.• This is a $5 rise IN the price.• Sales have grown BY 2%.

HW: RB, p 34, exercise III

Time prepositions• on on Monday, on 23 March 2012• in in August / in winter

in the morningin 2006in an hour

at at half past nineat nightat the weekend

• since since 1980• for for 2 years• ago 2 years ago• before before 2004• to / till / until from Monday to/till Friday• till / until He is on holiday until Friday.• by I will be back by 6 o’clock.

By 11 o'clock, I had read five pages.

Home assignmentsReport (task 3) – few students submitted hw

HW for Tue (7 April): Report – task 4 (RB, p 26)

• RB, p 58 BANK STATEMENTS• Do you get bank statements from your bank?• Do you know anyone (adult) who has no bank

account?• What are the benefits of having a bank account?• What are the drawbacks of not having one?• How many people in the world have no access to

banking/financial services? (the unbanked orthe underbanked)

Access to finance varies greatly between countries:

ca 5 % in Papua New Guinea and Tanzania

100 % in the Netherlands

MICROFINANCE- providing financial services to low-income clients

Is that a good idea in your opinion?

Have you heard of some specific examples?

Muhammad Yunus (Grameen bank)?Learn more about the first microfinance initiative:

http://www.grameen-info.org/index.php?option=com_content&task=view&id=210&Itemid=536

→ MK, p 76 Listening

Get ready to answer the questions.

1 Social ____________ - a group of people who...

2 Making _________ to ....

3 Because the bank makes _______ loans to a ________ number of people, which ____________ the risk.

4 Because it has been shown that .... Microfinance can be a part of normal ....

5 A_________, L_______ A_______ and A_____

Listening cont.

Listen for terms defined below:

Assets promised by a borrower to a lender if the borrower cannot repay the loan.

The managing of investments in ways that produce as much profit as possible while limiting the danger of losses.

Reducing risk by investing in a variety of assets / lending money to large number of people.

collateral

risk management (tool)

risk diversification

COLLATERAL

Assets promised by a borrower to a lender if the borrower cannot repay the loan – collateralEg. The firm went bankrupt, and because he had used his two homes as collateral when he borrowed money for the company, he lost almost everything he owned.Synonym: securityEg. Mortgage is a loan, usually to buy property, which serves as a security for the loan.

secured credit vs. unsecured creditIn the majority of bankruptcies, secured credit is repaid before unsecured credit.

Next time:Central banks & monetary policyGet ready for the next class RB, p 62: - review the functions of the central bank- make sure you understand the

words/concepts in the box- read the excerpt from Schiller’s Essentials

of Economics

HW: RB, p 62: tasks 1, 2 & 3