Магистерская программа "Финансы и кредит" заочная форма обучения

КОНТРОЛЬНАЯ РАБОТА ПО АНГЛИЙСКОМУ ЯЗЫКУ № 1

1. Прочитайте и переведите текст

CENTRAL BANKING: AN OVERVIEW

A major sector of any modern monetary system is the central banking system,

which is important to the functioning of the private economy and the fiscal operations

of the national government. Central banking is an activity separate from ordinary

commercial banking, because a central bank usually has few transactions with private

customers, dealing primarily with commercial bank and with the national government.

The roots of the central banking system go back more than two centuries. Nevertheless,

central banks as we know them today are relatively recent development. Like electric

power and the automobile, central banks are pretty much the products of the twentieth

century. For example, at the turn of this century no central bank existed in any country

of Western Hemisphere. The central banking system for the United States (Federal

Reserve System) was created late in 1913, and the Bank of Canada appeared in 1934.

The characteristics of the Modern Central Bank. It is difficult to give a brief

definition of a central bank that is both comprehensive and accurate. The nature of a

central bank depends largely on its function, which vary according to time and setting.

Essentially, a modern central bank performs at least three functions: managing the

nation’s monetary system, serving as a bankers’ bank, and acting as fiscal agent for the

national government.

Monetary control. The most important characteristic of the modern central bank

is its control over the monetary system for facilitating the achievement of national

economic goals. In exerting this control, the central bank regulates the supply, cost, and

availability of money and credit. Monetary control is enhanced by the central bank’s

monopoly on the banknote issue and its ability to create and destroy monetary reserves

by its lending and “investing” activities. Since monetary control is a prerogative of the

sovereign government, the central bank is a public service organization that emphasizes

the national interest rather than its own profit or welfare.

Bankers bank. Being a bankers’ bank implies that the central bank provides

services to the commercial banking system similar to those that the commercial banking

system performs for individuals and business firms. Commonplace services that

nevertheless promote the smooth operation of the monetary and banking systems

include, for example, the clearing and collecting of checks, distributing coin and paper

currency to commercial banks, and providing some degree of supervision and regulation

over the activities of commercial banks.

Fiscal agency function. In its role as a fiscal agent, the central bank serves as a

banker for the national government. Here the central bank receives, holds, transfers, and

disburses funds of the central government.

Central and commercial banking functions involve widely differing objectives

and methods, and therefore these functions are kept separate. The central bank orients

its policy primarily toward the attainment of national economic objectives, whereas the

commercial banking system is essentially profit-motivated.

2. Напишите ответы на вопросы

1. Why is the central banking system a major sector of any monetary system?

2. How long is the history of modern central banking?

3. What are the functions of a central bank?

4. What does the nature of a central bank depend on?

5. What are the main distinctions between central and commercial banking?

3. Определите, какие высказывания являются верными. Исправьте

неверные утверждения

1. The object of central banks in the monetary field is to support the

Government’s activities in other fields.

2. Every bank issues its own notes.

3. Private individuals and businesses often deal with central banks.

4. Central bank is a bank officially appointed by law to work closely with the

Government.

5. Commercial banks perform the duties of issuing and managing the country’s

currency.

6. The commercial banking system is profit motivated.

4. Напишите аннотацию к тексту

5. Заполните пропуски в тексте следующими словами:

credit card current accounts debit card

direct debit statements foreign currency

saving accounts standing order traveller's cheques

6. Подберите определения к следующим словам:

1. private pension plan

2. overdraft

3. loan

4. collateral

5. mortgage

6. interest

a. what you can earn when you leave your money in the

bank

b. an amount of money borrowed from a bank for a

certain length of time, usually for a specific purpose

c. something that acts as a security or a guarantee for a

debt

7. repossess d. an arrangement to withdraw more money from a

bank account than you have placed in it

e. a long-term loan to buy somewhere to live

f. an arrangement for saving money to give you an

income when you stop working

g. to take back property that hasn't been completely

paid for

7. Выполните грамматический тест

7.1. Раскройте скобки и напишите глаголы в соответствующем времени

и залоге. Переведите предложения

1) Service industries generally (play) a dominant role in Britain's economy.

2) Britain's economy (base) mainly on private enterprise.

3) All kinds of equipment and heavy machinery (produce) by machine-building

plants.

4) At the present time, high-technology industries (grow) rapidly.

5) Thirteen of the world's fifty best-selling medicines (develop) in Great Britain.

6) Rich coal and iron deposits (influence) the growth of Britain's economy in the 19th

century.

7) In the early 1990s the British Government (privatize) such major businesses as

British Telecom, British Gas, the non-nuclear electricity companies, etc.

8) In 1994, over 1.5 million cars (manufacture) in Great Britain, though most of the

automobile plants (belong) to foreign investors.

9) British agriculture (know) for its efficiency and productivity.

10) Agriculture-related exports (include) specialised products such as fresh

salmon, Scotch whisky, jams and conserves, tea, beef and lamb.

7.2. Выберите прилагательное в соответствующей степени сравнения.

Переведите предложения

1. The US has a ……… (big) domestic market than Portugal.

2. If one company has a much ………. (large) share than any other, it can affect

price.

3. There are companies which need a lot of money to set up but much … (little)

money to run.

4. An increase in demand can make a company push its prices even ….. (high) than

necessary.

5. Adam Smith is one of …… (great) economists.

6. A house is one of the ………(expensive) things that people buy.

7. China and India are now making ………(large) contributions to global growth.

8. From 2004 to the present world growth has been …(rapid) than at any time since

the early 1970s.

9. Unfortunately, ………..(low) volatility does not rule out occasional recessions.

10. Output stabilization in developing countries was ………(gradual).