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UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

SUPORT CURS ENGLEZA ANUL II SEMESTRUL I

Lector Univ. Drd. Irina Ciobanu

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

UNIT 1: INFLATION I. Reading session: One of the most intractable problems confronting societies in transition from centralized to free market economies is that of inflation. It is, however, a challenge that such societies must meet if they are to enjoy the material benefits that a market economy can provide. Inflation is an increase in the average price level of the goods and services produced and sold in an economy. Inflation typically occurs in a market economy for on of two reasons: either people increase their spending faster than producers are able to increase the supply of the goods and services; or there is a decrease in the supply of goods and services to consumers and/or producers, which drives up prices. Inflation has sometimes been described as an increasing amount of money chasing a shrinking number of goods. Inflation hits economies in transition hard because price liberalization the removal of government control of prices is an essential step towards a market economy. The initial result of such price liberalization is predictable a wave of price increases for goods that were in chronic short supply. Why? Because the government held their prices artificially low, so demand perennially outstripped supply, or because of other economic distortions and inefficiencies created by government decision-makers. In addition, if people are holding large amounts of money at the time of this transition (since there was little of value to buy) the pressure of inflation can be even greater. Nevertheless, the rewards of enduring the inevitable bout of inflation during this transitional period are substantial. Unfettered by government, the market mechanisms of supply and demand can begin to function. High prices signal strong demands and the market, albeit slowly and haltingly at first, responds with increased production. Peoples money may have lost value, but what money they have is now real and consumers can buy the goods that are beginning to appear in stores. With supply increasing, prices stabilize and queues begin to disappear as consumers realize that more and varied products will continue to be available for sale. Entrepreneurs and investors respond to the new economic freedom by starting new business and competing to provide goods and services, thereby creating jobs expanding supply and causing prices to moderate further. The key element in this transition is for the government to relinquish its role in setting prices and permit the market forces of supply and demand to establish prices for virtually all goods and services. When such a free market is established, inflation may persist, but it is a far more manageable and less threatening problem than in the early, hard days of economic transition. (What is Market economy, USIS, 1992) MONETARY POLICY Monetary policy is how the government tries to improve the countrys economy by using banks and money, acting on the level of deposits and loans, and on interest rates and exchange rates. As well as keeping inflation low, a government will seek to keep unemployment low and output rising. However, it cannot do all three things at the same time. For instance, it is very successful in lowering unemployment, the shortages of workers may cause wages to rise,

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

as employers bid for more employees. The workers will spend their increased wages in the shops and this may cause prices to rise thereby causing inflation to rise. A government may have to choose therefore between these aims or goals. Mrs. Thatchers (in office between1979 1990) government chose the reduction of inflation as the goal which should be given the utmost priority. Unemployment, economic growth and the enormous gap between exports and imports were not considered so important. (Banking: The Business, Pitman, 1990, pp.27-28) II. Answer the following three questions based on what you have just read. What is inflation? What causes inflation? What is meant by monetary policy? III. Focus on Grammar: Ways of expressing future A. Future Simple: Forms: Affirmative: Subject + will + short infinitive of the main verb I will (Ill) buy the red shirt. Negative: Subject + will + not = short infinitive of the main verb I will not buy (I wont) the red shirt. Interrogative: Will + Subject + short infinitive of the main verb Will you come to my party? Use: a) In predictions about the future, usually with think, believe, be afraid, probably, etc. E.g. I believe prices will remain steady in the following months. b) For on the -spot decisions. E.g. Its late. Ill take a taxi home. Ill lend you my car if you want. c) For actions/ events/situations which will definitely happen in the future and which we cannot control. e.g. Winter will set in early this year. B. Be going to: Use: a) for plans, intentions or ambitions. e.g. Im going to buy a sports car. b) in predictions when there is evidence that something will happen in the near future. e.g. Someones going to fall over that box if you dont move it. C. To be about to Use: a) in reference to the immediate future e.g. He is about to be elected president of the merged company. D. To be to Use: a) for a previous arrangement e.g. Mother is to arrive tomorrow.

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

E. Present Tense Simple: for timetable and official programmes: e.g. The train leaves at eight oclock tomorrow morning. F. Present Tense Continuous: for a future event which is planned by the speaker (the decision is all his/hers) e.g. I am flying to London in order to attend the matches of the national football team. G. Future Continuous: Use: a) for actions which will be in progress at a stated future time. e.g. This time next week hell be flying to Morocco. H. Future perfect: S+ will+ have + Past Participle Use: a) For actions which will be finished before a stated future time. e.g. We will have returned home by Sunday afternoon.

I. Future Perfect Continuous: Use: a) To emphasise the duration of an action up to a certain time in the future. E.g. By the end of this week, she will have been working here for six years. IV. Exercises A. Answer the following questions giving as many answers as possible: 1. What do you think will happen after Romanias integration into the European Union? 2. What are you going to do when you graduate? B. Put the verbs in brackets into the Future Perfect Tense: 1. 2. 3. 4. 5. By next spring our company (become). a famous one. I (finish) .. this assignment in an hour. By this time next year our turnover (reach).. $1 million. In a fortnights time we (sell) .. all our products. The inflation (go down) .. before our company breaks even. (to break even=a atinge pragul rentabilitatii) 6. Theyll still be struggling hard to find customers next year but we already (develop) a reliable market share by then. C. Translate the following sentences into English: 1. Voi discuta cu reprezentantii departamentului Resurse Umane n legatura cu posturile vacante. In mod sigur sptmna viitoare vom da un anunt la ziar. 2. Vom consulta baza de date pentru a obtine aceste informatii. Pn lunea viitoare vom gasi varianta optim pentru rezolvarea acestei probleme. 3. Mine ntre orele 8 i 9 voi citi titlurile tuturor publicatiilor financiare care vor fi trimise de ctre sucursala firmei noastre n Cluj.

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

4. Sptmna viitoare pe vremea asta vom discuta clauzele contractului ce va fi ncheiat conform ntelegerii noastre pn pe data de 1 august. 5. Directorul acestei firme a spus c piata serviciilor se va dezvolta din ce n ce mai mult n Romnia. 6. Suntem pe punctul de a lua o msur deosebit de important referitoare la strategia de dezvoltare a compartimentului de marketing. D. Put the verbs in brackets into the correct future tense: 1. Are you looking forward to your holiday? Oh, yes! This time next week I . (lie) on the beach. 2. Were having a party on Saturday. Oh, good. I.. (make) a cake to bring along. 3. Have you finished the report yet? Yes. I . (give) it to you in a minute. 4. Why are you buying all those vegetables? Because I .. (make) vegetable soup. 5. This writing is too small for me to read. Give it to me and I ..read it for you. 6. Are you excited about your trip? Yes. This time tomorrow I . (sit) on the plane. 7. I cant hear the television very well. I (turn up) the volume. E. Put the verbs in brackets into the future perfect or the future perfect continuous. 1. By 3 oclock, she .. (study) for six hours. 2. By the end of next month, Sam .. (finish) the project. 3. He. (not/start) painting the kitchen before Tuesday. 4. By the time she arrives in Paris, she . (travel) for four hours. 5. I hope I .. (buy) my own house by the time Im thirty-five. 6. By Saturday, Lisa. (diet) for two weeks. 7. Hopefully, they .. (learn) everything by the time they sit the exam. 8. By 4 oclock, I (be) in the hairdressers for three hours. 9. By Christmas, I.. (work) for this company for eighteen months. 10. By next weekend, Brian (move) house. 11. Hopefully, the builders.. (finish) building the house by next month. 12. By Tuesday, Alan.. (sail) for twelve days. F. Put the verbs in brackets into the correct future tense. Dear Victoria, The holidays are coming and Ive made lots of plans. This next week, I (buy) Christmas presents for my family and friends. I (get) everything in one day, so that I can enjoy myself for the rest of the holidays. Im staying at home with my family on Christmas day, but two days later I (leave) for Austria. Becky and I (spend) a week there skiing. Im sure we .. (have) a wonderful time. When I come back from Austria, I.. (probably/have) a party, because its my th birthday on January 5 . I . (be) nineteen! I hope you..come. Well, I must go now. Im going to help my mother with the housework. See you soon!

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

Love, Penny

UNIT 2: PLASTIC MONEY IN A CASHLESS SOCIETY I. Reading session: All bank accounts these days are organized through computers. Everybodys bank account information right from your name to the amount of money youve got in your account is stored in such a way that it can be easily accessed by computer. The storage media, as its called, varies, but mostly its a magnetic disk, optical disk or magnetic tape. Any of these can store accounts data of thousands of people constantly being updated as the millions of card holders all over the country buy, sell and save. This electronic banking means that money can be moved around almost at the speed of light, through telephone wires, optical fibers, even radio rays and not one penny of cash physically changes hands. Some people say we are heading for a cashless society. If we are the keys to unlock will be the cards. There are numerous types of cards. The most commonly used are debit cards and credit cards. A debit card is a type of plastic money which allows payment to be taken directly from your bank account. To pay for the shopping, the cashier swipes it into an input device, the card reader, which reads the relevant bank account details from the cards magnetic side and then uses these as a key to electronically unlock your bank account and also the right

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

amount to be transferred to the shop bank account. Confirmation of the sales is output. All the customer has to do is to confirm with the signature which also acts as a security check. No cash changes hands. Everything is dealt with automatically. The card is all you need. Its quick, easy and people dont need to write cheques or carry too much cash. A credit card cannot only let your credit account cover you for up to say, 500 pounds worth of goods, thats your credit limit. Theyre a bit different from debit cards though, because the money youre using is not actually yours. You borrow it from a credit company and pay it back later at a later date. But because of this there is a great temptation to overspend, its really important to make sure you can afford to pay the credit company back otherwise you can end in all sorts of trouble. The good thing is, though, that the technology behind these things doesnt only make buying easier in this country, it can also help you anywhere in the world. Credit cards are plastic cards issued to individuals, not necessarily customers of a bank, which have on the front, the persons name, credit card number, date of expiry. On the reverse of the card is the signature of the holder and the basic conditions of issue. II. Focus on Grammar I. Tenses of the Indicative Mood: Round Up II. The Sequence of Tenses A. Present Tenses 1. The Simple Present: I read/ He reads 2. The Present Continuous: I am reading/ He is reading. Verbs that are not used in the continuous aspect: a. feelings and emotions (like, love, adore, desire, mind, hate, detest, fear) b. thinking/believing (think, understand, know, mean, realize, recognize, remember) c. wants (want, prefer, wish) d. perception (hear, see, smell, fell, notice, observe) e. vbs. Of being/having/owning (appear, seem, consist, belong, matter) 3. The Simple Present Perfect: I have read/ She has read 4. The Present perfect Continuous: I have been reading/ She has been reading. B. Past Tenses: 1. The Simple Past: I played/He played; He read/ I read 2. The Past Continuous: I was reading/ he was reading 3. The Simple Past Perfect: I had read/ He had read 4. The Past Perfect Continuous: I had been reading/ He had been reading C. Future and Ways of expressing Future Time 1. Future Simple- I will go/ He will go. 2. Future Continuous I will be reading/ He will be reading. 3. Future Perfect I will have read/ You will have read. By the time father comes Bobby will have finished his homework. 4. Future: going to Im going to read. 5. To be to: Mother is to arrive tomorrow. (previous arrangement) 6. To be about to: She is about to lose her job.

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

7. be due to: I am due to start teaching next week. 8. The Present Simple: Our next meeting is on Monday. 9. The Present Continuous: They are getting married in July. III. Exercises A. Translate the following sentences into English: 3. 4. 5. 6. Lucrez la aceast firm de patru ani. nvt la aceast facultate cu profil economic de trei ani. Vorbesc engleza de cnd aveam 10 ani. Lucrez la departamentul de export al acestei companii din 1992, dar n-am auzit niciodat de o asemenea situatie. 7. Preturile pe piata intern au crescut din nou. 8. La creditele pe termen scurt dobnda este mai mic. 9. Care este rata de schimb astzi ? 10. Ce comision percepeti pentru aceast tranzactie ? 11. Banca central ndeplinete i functia de mprumuttor de ultim instant. 12. Ati primit scrisorile ? Da. Cnd le-ati primit ? Le-am primit ieri. 13. Mi-ati transferat suma n dolari ? Da. Cnd ? Sptmna trecut. 14. Ai aflat noutatea ? Domnul Johnson si-a deschis un nou cont n valut. Serios ? Ce valut a depus de data aceasta ? tii foarte bine c operatiunile bancare sunt confidentiale i nu-ti pot spune. 15. V-am deschis acreditivul. Cnd? Acum dou ore. 16. Fiti amabil, mtua mea mi-a trimis 200 de dolari americani. Vreti s verificati dac deja mi-au intrat n cont? Desigur, un moment. M tem ca nu au ajuns nc. Cnd vi i-a trimis ? Din cte am nteles, i-a trimis acum trei zile. Vom verifica. Reveniti sptmna viitoare. 17. De ct timp este doamna Marshal clienta bncii noastre? De 15 ani. De ce ? O consider unul dintre cei mai serioi clienti din cti am avut. 16. Lucrez n banca aceasta de 5 ani, dar nu am ntlnit niciodat o asemenea situatie. Nu tiu ce s-ti spun. Va trebui s discutm cu directorul. 18. Firma Mc Donalds a solicitat un credit de 15 miliarde de lei. A depus cererea i documentatia necesar ? Da, cu exceptia situatiei fluxului de disponibilitti. (cash flow) Nu nc. Cum aa ? Cnd s-a depus cererea? Acum rei zile. V rog s v ocupati personal de acest lucru i s-mi raportati concluziile dumneavoastr cel mai trziu marti dimineat.

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

Am nteles. 19. De dou sptmni ncerc s-l contactez pe domnul Smith de la firma Mc Monis, dar de cte ori am sunat nu mi-a rspuns nimeni la telefon. Ce numr de telefon ai apelat ? 6724936 sau 6724937. Si-au schimbat cumva numrul de telefon ? Din cte tiu eu, nu, dar n-ai verificat la informatii ? Ba da, am sunat chiar ieri, dar nici ei nu tiau nimic. 20. am studiat cu atentie concluziile departamentului de marketing i cred ca nu putem nc lansa noul nostru produs. 21. De trei ore analizez situatia financiar a acestei firme i nu reuesc s pricep cum i-ar putea mbuntti activitatea dac le-am acorda creditul pe care l-au solicitat. II. The Sequence of Tenses (applies to three types of subordinate clauses: direct object clauses, conditional clauses, adverbial clauses of time)

A. Direct Object Clauses Main Clause Subordinate Clause 1. Present/ Present Perfect/ Any tense required by the meaning of the clause Future e.g. Mary explains/has explained/ will explain that she goes/will go/ has gone/ went/ had gone to London. 2. Past tense a) Past tense- to express a past action simultaneous with that of the main verb. E.g. I thought that they were at home. b) past perfect- to express a past action prior to that of the main verb. e.g. He said that he had seen the film. c) Future- in the Past- to express a future action related to the past. e.g. They promised they would write that exercise again. B. Time Clauses (no Future Tense can occur in a time clause. In its stead we use: Main Clause Subordinate Clause Future a) Present Simple: Margaret will tell us the truth when she knows it. b) Present Perfect: The boy will translate the lesson after he has learnt the new words. There are some exceptions to the rules mentioned above: Main Clause Subordinate Clause Past Tense Present Simple- to express general truths; facts universally known. The teacher told the pupils that water boils at 100C. Past Tense Any tense logically required in: - attributive , comparative clauses; - adverbial clauses of cause. III. Exercises A. Put each verb in brackets into the most suitable present tense:

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

I work in a large office with about thirty other people, most of whom I ........ (know) quite well. We .............. (spend) most of the day together, so we have all become friends. In fact, most of my colleagues are so interesting, that I ........... (think) of writing a book about them! ............... (take) Helen Watson, for example. Helen ............. (run) the accounts department. At the moment she ................ (go out) with Keith Ballatnine, one of the sales representatives, and they . (seem) very happy together. But everyone (except Helen apparently) (know) that Keith(always make) eyes at Susan Porter. But I.. (happen) to know that Susan .(dislike)Keith. I cant stand people who (apologise) all the time! she told me. And besides, I know he (deceive) poor Helen. He (see) Betty Wills from the overseas department. And Plenty of other interesting things .. (go on). For instance, every week money (16) (disappear) from the petty cash box. When you . (realise)that someone in your office is a thief, it .. (upset) you at first. But I (also try) to catch whoever it is before the police are called in. Im not going to tell you who I.. (suspect). Well, not yet anyway! B. Put each verb in brackets into the most suitable past tense. Only use the pas perfect where this is absolutely necessary. Harry went to the camp the following morning, but it was in some confusion. Soldiers.. (wander) around carrying equipment from one place to another, but there (not seem) to be any purpose to what they .. (do). Harry.. (never be) in an army camp before, but it .. (not take) a genius to realize that most of the officers .. (take) the first opportunity to abandon the men and head for safety. He .. (try) to phone the newspaper, but something . (happen) to the telephone lines. He (try) to find out exactly (go on), when the first plane . (fly) low over the camp. A wooden building a few hundred yards away suddenly (disappear) in an explosion of flame. Before long bombs .. (explode) all around him, and then everything .. (go) quiet. The planes (vanish) as suddenly as they . (appeared). Smoke .. (rise) from burning buildings. A dead man (lie) next to Harry, the first dead person he .. (ever see). And suddenly it .. (begin) to rain. C. Translate into English: 1. 2. 3. 4. 5. Cnd va ntelege c i suntem prieteni, va fi putin cam prea trziu. Dup ce a inchis ferestrele i a ncuiat ua, a plecat de acasa n mare grab. Cnd am auzit-o cntnd mi-am dat seama c se simte mult mai bine. Dei e aproape miezul noptii, ea exerseaz la pian de mai bine de patru ore. Nu l-am vzut de cnd a plecat din oraul nostru, dar tiu c a stat n Franta din 1980 pn n 1985. 6. Ne cumprm main nou sptmna viitoare fiindc cea veche s-a sricat luna trecut . 7. Uite, pleac trenul i ei nu au sosit nc! 8. Cnd am intrat n clas Nick i Tom se uitau unul la altul i rdeau. 9. El mi-a spus c e btrn, dar c nu a auzit niciodat o voce att de frumoas ca a ei. 10. Dup ce vom planta aceti pomi, grdina va arta ca un adevrat paradis.

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

UNIT 3: BANKING I. Reading session: The banking sector in the United Kingdom is made up of a variety of institutions supervised by the countrys central bank, The Bank of England. The Bank of England was established in 1694 by an Act of Parliament and Royal Charter as a corporate body; the entire capital stock was acquired by the Government under the Bank of England Act 1946. The Banks main functions are to execute monetary policy, to act as banker to the Government, to act as noteissuing authority and to exercise supervision over and to provide banking facilities for the banking system. Commercial or clearing or reta il banks are those with a significant branch network, offering a full range of financial services to both individuals and companies. These banks offer a wide range of services which include accepting deposits, making loans and managing customers accounts. With the growth of financial services sector since the 1970s and with a relaxation of restrictions on competition among financial institutions, the major banks have increasingly diversified the services they provide. Most retail banks also conduct extensive international operations which account for a substantial proportion of their business. Merchant banks, on the other hand, do not deal with the public but specialise in services for companies or corporate customers. Today they have a widely diversified and complex range of activities with important roles in international finance and the short-term capital markets: the provision of expert advice and financial services to British industrial companies especially where mergers, takeovers, and other forms of corporate reorganisation are involved. A number of merchant banks have become part of financial conglomerates, offering an even wider range of financial services. The main largest retail banks all have merchant banking subsidiaries. One of the basic functions of a bank is lending money. The interest earned from loans brings in most of the revenue to pay the expenses of the bank, including staff salaries, and gives a sufficient surplus to pay shareholders a dividend and retain funds in reserve accounts for the expansion of the bank. It should always be remembered that the funds that are put out on loan belong to the customers. It is their money that is put at risk; consequently, if a bank is continually making bad or unprofitable loans, this will sooner or later be reflected in the deposits. On the other hand, if banks are able to lend profitably and, as far as possible, risk free, this will enhance the reputation of the bank and improve its public image. When a customer applies for a loan he must answer questions like the following: How much is required? This question is self-evident, the bank must know how much money the customer needs; at the same time the bank must be aware that whatever sum is required, it should not cover the whole project. The customer must be prepared to put some of his own money at risk. The total financial risk must not be the banks alone. The purpose of the loan? The purpose of the loan must be legal, moral and within the policy of the government and the bank; moreover, it must not break legal requirements.

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

The source of repayment? The answer to this question is important to the bank. Any customer must have sufficient resources to repay the bank within the stipulated agreed time not only the capital, but the interest as well. The sources of repayment could be from wages, salary, dividends, an inheritance, profits, and so on. II. Vocabulary practice:
1. Find the following from the list of words below. 3 ways to pay 3 things you carry money in 3 things you must pay 3 ways to save money a bill a credit card a purse a cheque a fine a piggy bank a bank account a fare a money belt a share a wallet a debit card

2. Which phrase is the odd one out in each list? a) b) c) d) e) Its a bargain Its cheap Its worthless Owe $ 300 hire Its good value Its poor value Its dear Its expensive It has no value Its priceless Be $300 in debt Earn $300 purchase rent

MONEY AND BANKING 1. a) b) c) d) e) f) g) h) i) In each sentence choose one or more appropriate words: Harry gains/gets/makes over $20 000 a year. Mary was awarded a grant/scholarship/subsidy to study child psychology. How much did you give/pay/take for your new car? Their house fetched/produced/sold for a lot more than they expected. Im going to the bank to get out/remove/withdraw the money for rent. The manager disappeared with the receipts/takings/wages from the concert. By the time Kate retired she was a fortunate/prosperous/wealthy businesswoman. We had a good holiday but it was rather costly/expensive/valuable. We would appreciate it if you close/settle/pay your bill as soon as possible.

2. Replace the phrase underlined in each sentence with one the phrases given. Do not use any phrase more than once. challenged the figures come into a fortune commercially viable a) b) c) d) e) f) g) h) financial means free of charge in credit on expenses make a wise investment on easy terms on the market

Weve decided to put our house up for sale. Jean has inherited a lot of money. At the meeting Peter said he thought the amounts were wrong. No one believes that the shop will ever be a business success. I am the possessor of a healthy balance at the bank. Sue and Jane went to S America with everything paid for by their company. We dont believe you have the money to take over this company All employees can stay at the hotel without paying.

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ? i) We bought our new electric cooker by installments. j) Harry became rich after he managed to put his money in the right place. 3. Read Mr Jones bank statement. How much money does he have in his account now? ACCOUNT NUMBER 548634396 PAGE 1 MEDAWAY BANKplc STATEMENT NUMBER 01 53 The Mews Road STATEMENT DATE 1 Mar 2000 London L34 PY6 Date Balance st May 1 nd May 2 May 6 th May 12 th May 13 th May 13 th May 15
th

Particulars Opened savings account Transferred $365.00 from current account Deposited $78.00 in account Direct debit payment: $109.00 Withdrew $340.00 cash $78.00 paid into account Standing order payment: $109.00

Debits

Credits

Answer these questions: 1. Is Mr. Jones in the red or in the black? 2. Does he need to ask the bank for an overdraft? 3. If he is charged 10% interest on his overdraft, how much will he have to pay? 4. Which words mean that money went into account? Which words mean money went out of the account?

III. Focus on Grammar: Conditional sentences, Type I and II Read and analyze the following sentences. What kind of situations do they refer to? 1. If banks are able to lend profitably and, as far as possible, risk free, this will enhance the reputation of the bank and improve its public image. 2. If I had more money, Id (I would) invest it on the Stock Exchange. Main Clause If Clause 0 Conditional (to talk about general truths, habits or routines) PRESENT PRESENT If its raining, she takes the car to work. Type I (refers to a situation that may or may not be fulfilled, that is likely to happen in the prese nt or in the future) FUTURE SIMPLE PRESENT SIMLE He will go to prison if he doesnt pay the fine. Type II (refers to a situation that is unlikely to happen; to an imaginary situation contrary to the fact in the present; it also used to give advice) PRESENT CONDITIONAL PAST TENSE SIMPLE I would take up a sport, If I had time.

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The Present Conditional: Affirmative: S + would + short infinitive of the main verb I would learn French if I had time. Negative: S + would + not + short infinitive of the main verb I would not learn French if he were my teacher. Interrogat ive: Would + S+ short infinitive Would you come to my party if I invited you? III. Practice: A. Underline the correct words. 1. If were/ we would be late, theyll start/ theyd start without us. 2. If we will take / take a taxi, well arrive/we arrive sooner. 3. If we worked/would work for ADC, well get/wed get a better salary. 4. When inflation will go/ goes up, there would be/is usually pressure on salaries. 5. If we dont hurry/wont hurry, we would be/ well be late. 6. If you ordered/ order on the Net, we always will send/send an email confirmation. 7. If I lend/ will lend you this book, when do you return/will you return it? B. Read the sentences and decide if the events are likely or imaginary. Complete the sentences by putting the verbs in brackets into the present simple +will or the past simple +would. Use contracted forms where possible. 1. Its not far. If you .. (follow) this road, you..(come )to the station. 2. If I ..(be) on the Board of this company, I. (argue) against the merger. 3. If you .(have) any questions, I ..(deal) with them at the end of my presentation. 4. If the council .(ban) all cars from the city centre, there.(not be) so much pollution. 5. A: I have no idea what the other side are going to propose in the negotiation tomorrow. B: Neither do I. If I ..(know), I.(tell you). 6. A: My train leaves in forty minutes. B: it only takes ten minutes to the station by taxi. If you .(leave) now, you (catch) it. 7. Is that the time? I really should be going. If you (wait) a moment, I (give) you a lift. 8. Would you like to go to English evening classes with me? Im sorry but I cant. Im really busy. If I .(have) more time, I (love) to. C. Decide which of these things may happen to you and which are unlikely to happen. Write complete sentences using the appropriate verb forms.

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

1. 2. 3. 4. 5. 6.

If/ go abroad next summer / change / some money into travellers cheques. If / lose / credit card/ inform/ the bank immediately. If/ need some money/ ask/ the bank manager for a loan. If/ find mistakes on my bank statement/ change / to a different bank. If / earn / more money/ be able to save more. If/ order/ chequebook / get /it before the end of the week.

D. Complete the sentences with ll,d, wont or wouldnt. 1. We.give you a more substantial discount if you paid cash. 2. If they didnt find our terms satisfactory, they.continue doing business with us. 3. So if we order 2000 units, you ..give us a 10% discount, is that right? 4. We..be able to order more if you cant deliver within a week. 5. If you cant deliver this week, we.have to turn to another supplier. 6. We .have to look for another supplier if you were able to dispatch immediately. 7. Im sure we ..get this contract unless we offer a lower price. 8. If I were you, I look for a more reliable supplier. E. Finish these sentences using the zero, he first and the second conditional 1. If you smoke. 2. If your tooth hurts.. 3. If you need some money.. 4. If I wanted to make a lot of money 5. If you wanted to be invited to lots of parties 6. If you wanted to lose weight, 7. If you break that mirror.. 8. If I lost my job.

F. work with a partner and discuss these moral dilemmas. What would you do if 1. you found an antique vase on a building site? 2. ..you knew that a classmate of yours had been stealing money from other students? 3. you were having trouble in a test and the invigilator left the room for a few minutes? 4. your best friend asked you to whisper the correct answers in an important examination? 5. .you were on holiday abroad and you lost all your money?

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

UNIT 4: THE STOCK MARKET I. Reading session: There are several ways of using savings: putting them in banks, investing in real estate, and buying securities. In the Western world, the Stock Exchange plays an important role in the economic life of a country. Its purpose is that of facilitating the selling of securities (e.g. shares, stocks and bonds), or of investing money in business by buying securities. Both stocks and bonds are issued by large corporations (such as those working in the fields of oil, steel, car industry, or telephone, etc.)in order to raise capital to develop their business. Bonds are also issued by states, local governments and agencies, and they consist of an evidence of a debt. The bondholder receives a certificate providing information concerning the size of the loan, the interest rate and the date when the money is paid back to the lender. Bonds usually have interest coupons, which are cashed in due time, usually once every six months. Bonds can be easily passed from one bearer to another, as they take the bearer

UNIVERSITATEA "PETRE ANDREI" DIN IA?I ENGLEZ?

form. The registered types require a title transfer when they are sold and the interest is paid in this case by a cheque. A stockholder owns shares in a business. He can own either common / ordinary or preferred stocks. Both holders get dividends, but preferred stockholders are considered owners with limited rights of a corporation, and get their dividends before common stockholders. A principle of these dividends is that they are fixed and cumulative. When the activity is slack, they can be reduced or even suspended, but paid when the earnings improve again. Common stockholders get a rather certain income and higher profits when the company prospers. That is why preferred stockholders sometimes want to get in exchange common shares, to benefit from this advantage. They receive the common dividends declared by the company for every share, multiplied by the number of shares. They can get cash or new shares. The stock is split by companies, which want to attract small investors, people buying more easily a large number of shares of low denomination. The great Stock Exchanges in the English speaking world are found in London and New York (90 per cent of the total trading into the United States). Other Great Stock Exchanges are placed in Paris, Tokyo, Frankfurt, th Toronto, Montreal and Zurich. The London Stock Exchange was founded in the 18 century, in 1773, but the building was opened only in 1802. The business conducted here covers all types of securities, in almost all the countries of the world. The desire of an investor in a company to withdraw his money at any moment can be very dangerous for a company, which has already spent it by investing it. The stock exchange provides the mechanism through which this can be safely done for the company. This also assures the easiest way for the company to raise money. The investor is sure that he can find easily someone else to buy his shares. The investment is also somehow guaranteed by the investigation of the company by the Stock Exchange authorities, before permitting dealings with the shares of that company. The Stock Exchange is also a kind of barometer, price fluctuations being significant indicators for the performance of both individual companies and of the economy as a whole. The government stocks and bonds are also regulated by the same transactions, a fact which influences the size of the National Debt. II. Vocabulary practice: Fill in the text with the words in the box bellow: Securities; traded; stock market; issue shares; stock exchange; stocks; dividends; shareholder (stockholder); broker; equities; ordinary ; common shares ; common stock; stocks, institutional investors; bonds A company can raise money on the .. or .. (a market place for buying and selling shares) in two different ways. It can (US..), or units of its capital, to . Or the general public. Different types of shares or .. are available, but the most common are known as .or . (US ) When an investor buys a share, using the services of a specialist company or , he or she becomes a .. (US..) and owns a part of a company. Shareholders can make money by receiving, paid as a proportion of a companys annual profits, and when the value of their shares increases. A company can also borrow money from investors by issuing .., loans fro fixed periods with fixed interest rates. ..refers to both shares and bonds. Each year billions of shares and bonds are sold or . on the worlds major stock exchanges.

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III. Focus on Grammar: Conditional sentences, type III/ Ways of omitting if; Read and analyze the following sentences. What kind of situations do they refer to? 1. If I had sold my shares afer six months, I would have made a lot of money. 2. If I hadnt taken so many risks, I wouldnt have lost so much. Main Clause If Clause (imaginary situations which are contrary to facts in the past; also used to express regrets or criticism) PAST CONDITIONAL PAST PERFERCT I wouldnt have made such a big mistake if I had been more careful. PAST CONDITIONAL Affirmative: S + would + have + Past Participle of the main verb. I would have chosen that colour if I had known you liked it. Negative: S+ would +not+ have + Past Participle I wouldnt have chosen that colour if I had known you didnt like it. Interrogat ive: Would + S+ have+ Past Participle Would you have chosen that colour if you had known I liked it? !!! Ways of omitting IF!!!! We can form conditionals by using words/ expressions such as unless (Type 1 Conditionals), providing/ provided that, so / as long as, on condition (that), what if, suppose / supposing, otherwise (=if not), but for, and, even if, in case of / in the event of, etc. E. g. a) Unless you help me, I wont finish on time. (If you dont help me,...) b) Ill buy some shares providing/ provided (that) I have time this afternoon (..if I have time .........) c) So/ As long as you promise to be back by midnight, you can go to the party. (If you promise...) d) He agreed to work Saturdays on condition that he was paid overtime. (.....if he was paid....) e) Ill take Dads car tomorrow night. What if he needs it? (= what will ou do if he needs it?) f) Suppose/supposing you were fired, what would you do? (= If you were fired) g) Wed better leave now. Otherwise well miss our flight (If we dont leave now, well miss our flight) h) But for your advice, I wouldnt have been able to sell my shares on the Stock Exhange. (If you hadns advised me,.............) i) Do that again and Ill punish you. (If you do that again.....) j) I wouldnt go the party even if they invited me. k) In case of/ In the event of a fire, sound the alarm. (If there is a fire..........)

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IV. Practice A. Complete the sentences with words from the list below. Each word is used twice. When as long as in case unless 1. Ill speak to you again...............Ive looked at the contract in detail. 2. Leave your return flight open....................................the negotiations take an extra day. 3. We can start the project nex week......................everyone agrees. 4. We can start the project next week.......................anyone disagrees. 5. The Board will be happy...............................our share price remains high. 6. Keep your receipt ......................you need to return the goods. 7. The new stock will arrive .............................the Chrisstmas sales are finished. 8. Well probably make a loss this year ....................sales improve in the last quarter. B. Complete the following sentences about Apple Computer by putting the verbs in brackets into the third conditional. 1. If John Sculley, who became CEO of Apple in 1983, and Steven Jobs ..........(share) the same vision for the future of the company, Jobs .......................................(not resign). 2. The Macintosh personal computer...................................(not provide) the solution for inexpensive publishing, if Apple................................(not introduce) the Laser Writer, the first affordable laser printer for the Mac. 3. Apple probably..............................(remain) more competitive if they .........................(sell) licences for their operating systems to other computer manufacturers. 4. If the first generation of the Newton, a revolutionary notepad computer, ..................(work) better, sales...................................(be) higher. 5. When the iMac wa launched, people loved the colourful, fun design. Perhaps if it ......................................(be) less attractive, fewer first-time computer buyers ...........................(buy) it. 6. If Apple .............................................(not launched) the iMac, they ............................(not recapture) 6.7% of the computer market. 7. Apple shares ....................................(not rise) in 1998, if their sales ...............................(not increase) substantially. C. Choose one of the sentence starters and write a short story of about seven lines. You can make the conditional positive or negative. E.g. If I had gone to the party, I would have met Alice. If I had met Alice, I would have danced with her. If I hadnt danced with her, she wouldnt have asked me out. 1. 2. 3. 4. 5. If I had studied in another country............... If I hadnt invested in real estate.................... If I had asked a brokers advice.................. If the company hadnt recovered........................ If I had decided to set up a business.

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D. Complete the second sentence so that it has a similar meaning to the first sentence, using the word given. Do not change the word given. You must use between two and five words, including the word given. 1. I bought a few shares and I won some money. Hadnt If I I wouldnt have won any money. 2. My number didnt win because it was random. Might If my number had .won. 3. I didnt buy the house because I didnt have enough money. Afforded If I .wouldve bought the house. 4. I regret not buying that ticket because it won a thousand pounds. Would If I had bought that ticket, I .a thousand pounds richer now. 5. John arrived late so we couldnt set off on time. Punctually If John.we could ve set off on time. 6. He gambled a lot and lost all his money. so If he.he wouldnt have lost all his money.

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