Study the meaning of the words from the examples.

major (noun)

– The main subject I study at University is philosophy. What about you?

– My major is mathematics.

essential (adj.)

This country cottage has all essential services such as gas, water and electricity.

Computers are essential in all spheres of modern life.

to be concerned with

All these experiments are concerned with the influence of radiation on human

health.

goal

I've finally achieved my goal of visiting all the capital cities of Europe.

wealth

The wealth of some Arabic countries comes from their oil. A lot of people envy

his wealth and influence.

background

The job would suit someone with a background in computer engineering.

promotion

The job offers a good salary and excellent chances of promotion. Her promotion

to Sales Manager took everyone by surprise.

challenging

Teaching young children is a challenging and rewarding job.

3. Think of your own sentences with the words. Using a dictionary add
as many words as possible into the table.

4. Match the words with the definitions below:

counselor, exchange rate, asset, treasure, comptroller, portfolio, transaction.

1. The value of a currency expressed in terms of another currency.

2. Person giving professional guidance on personal problems.

3. All the stock, bonds and other securities held by a particular individual or institutional investor at one time.

4. Any item of value, often descriptive of the strong points of a person or company.

5. Any activity associated with trading or the carrying on of business; a business deal.

6. The officer who is responsible for management of the funds of an organization and, in a public corporation, for maintaining a market in it’s security.

7. The principal accounting executive of an organization, responsible for auditing financial records and procedures.

5. Look at the terms in the left-hand column and find the correct
synonyms or definitions in the right-hand column.

1) to allocate a) a move to a more important job or rank in a

company or an organization

2) portfolio b) experience

3) essential c) to give smth. officially to smb. for a particular

purpose

4) to be concerned with d) difficult in an interesting way that tests your

ability

5) goal e) necessary; important

6) wealth f) riches;

7) background g) purpose; aim

8) promotion h) a set of shares owned by a particular person or

organization

9) challenging i) be connected with

What are the opposites?

Non-profit, large, indirectly, poverty, unimportant, easy, narrow, to minimize, junior, loss, liabilities, public, debit.

7. Form all possible word combinations using the words of both
columns and translate them in Russian:

1. branch a) extension

2. allocate b) intermediaries

3. real c) funds

4. financial d) trainee

5. corporate e) manager

6. credit f) counselor

7. investment g) comptroller

8. finance h) assets

9. promotion i) job

10.challenging j) opportunities

Reading Comprehension Read and translate the following text. Consult a dictionary if necessary.

MY FUTURE PROFESSION

I am a second-year student of Polotsk State University. I study at the Faculty of Economy and Finance. The faculty has 4 departments: the department of finance and credit, the department of economics, the department of management, the department of accounting, control and analysis of economic activities. I study at the department of finance and credit. I feel that my profession is very important nowadays. I'll try to do my best to become a good specialist.

The university gives the students of our faculty all the opportunities to get good knowledge in different branches of economy. The training course includes such subjects as high mathematics, philosophy, economics, the history of Belarus, economic theory, foreign languages, informatics, etc. My major is finance and credit.

The field of finance is broad and dynamic. It directly affects the lives of every person and every organization, private and public, large and small, profit-seeking and non-profit. Finance and credit are needed to start up and expand a business. They are essential for salaries, credit extension to customers, advertising, insurance and many other day-to-day business operations. The field of finance is generally subdivided into three basic parts: financial markets and institutions, financial management, investments.

Financial institutions such as banks and insurance companies, along with other financial intermediaries, facilitate the flow of funds from savers to borrowers. They provide a forum in which suppliers of funds and demanders of loans and investments can transact business directly.

Financial management is concerned with how firms acquire and allocate funds. Its goal is to maximize the owners' wealth through effective financial planning and analysis and adequate asset management.

Investment analysis focuses on how individuals or portfolio managers select appropriate financial and real assets.

All in all finance can be defined as the art and science of managing money. Decisions made by financial managers affect the overall financial success of a company.

Careers in finance vary as widely as the scope of finance itself. A person with a limited financial background would probably begin as a credit or finance trainee. Promotion opportunities in the sphere of financial markets and institutions generally lead to positions such as loan officer, branch manager or senior analyst. Most experienced individuals working in the field of financial management are eligible for such positions as CFO, corporate comptroller and treasurer. Senior employment opportunities in investments include portfolio manager, senior investment analyst and investment counselor.

In short, there are a lot of positions available for university graduates in the sphere of finance and credit. It depends on one's enthusiasm and hard work what to become in future. Personally, I am ready to study hard to get a good qualification and apply for a challenging well-paid job.

Answer the questions:

1. What sort of specialist are you trained to be?

2. What are finance and credit needed for?

3. What subdivisions does the field of finance fall into?

4. What function do financial institutions perform?

5. What is the goal of financial management?

6. What is investment analysis concerned with?

7. What senior positions in the sphere of finance and credit do you know?

III. Comprehension and Word Study

1. Translate into Russian:

investment counselor, portfolio manager, profit-seeking organization, to expand a business, credit extension, day-to-day business operations, financial intermediaries, to facilitate the flow of funds, to acquire and allocate funds, finance trainee, promotion opportunities, loan officer, branch manager, corporate comptroller, treasure, challenging well-paid job.

2. Make up your own sentences using the following words and word
combinations:

challenging well-paid job, in the sphere of financial markets, overall financial success of a company, finance trainee, insurance companies, to expand a business, credit extension to customers, financial intermediaries.

What is the English for?

Делать все возможное; стараться изо всех сил; отрасль экономики; курс обучения; нацеленный на получение прибыли; продление кредита; повседневные деловые операции; финансовый посредник; размещать (распределять) денежные средства; управляющий портфелем ценных бумаг; недвижимость; возможность продвижения по служебной лестнице; старший аналитик.

4. Complete the sentences:

1. The field of finance directly affects … .

2. The field of finance is generally subdivided into … .

3. Financial institutions facilitate … .

4. Financial management is concerned with … .

5. Investment analysis focus on … .

6. Finance can be defined as … .

7. Careers in finance vary as … .

8. Promotion opportunities in the sphere of financial markets lead to … .

5. Use the terms in the box to complete the phrases below. What is the
Russian for these expressions?

credit fund profit finance portfolio investment

_____ and loss statement; to encourage foreign _______ ; ______ –

raising, _____ houses; to sell at a ______ ; _____ company; _____ analyst;

_____ extension, ______ trainee, ______ counselor, to buy on _____ ; the

company’s pension _____ ; letter of _____ ; _____ investment.

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