To develop pupils’ guess
To study the new vocabulary
To discuss ideas about topic
To skim the text for specific information
Grammar review Past simple
To motivate students, to develop their cognitive interests
Equipment: the cards, printed materials.
Introducing of topic and aim.
Warm up Activity. Conversation Questions - Money
If you had to choose between wealth and no love; and love with no wealth which one would you choose? Why? What are you saving your money for?
"money makes the world go round." Do you agree? Why? Why not?
Can money buy love? Why? Why not?
What's the average salary in your country?
If you won the lottery, or some other type competition, and won lots of money, what would you do with it?
How important is money to you?
Have you ever given money to a beggar?
Have you ever been in debt?
Which is more important, Love or money?
How much money did you spend yesterday?
1. Practise the pronunciation of the following words:
a) stress the first syllable:
money, currency, basically, reasonably, substance, medium, worth, store, value, serve, issue, government, shape, kind, modern, primitive, portable, share, payment, carry, measure, coin, checkbook, durable, normal, purchase, stable;
b) stress the second syllable:
exchange, convert, familiar, metallic, addition, inflation, consider.
Read the text and try to understand it.
Basically, money is what money does. This means that money can be any substance1 that functions as a Medium of Exchange, a Measure of Value, and a Store of Value.
As a medium of exchange, money is something generally accepted as2 payment3 for goods and services
As a measure of value, money expresses worth in terms that most individuals understand.
Money also serves as a store of value. This means goods or services can be converted into4 money that is easily stored until some future time.
The different forms of money are in use in the United States today. The most familiar are coin and currency. The term coin refers to metallic forms of money. The term currency refers to paper money issued by government. While money has changed in shape, kind or size over the years, modern money still shares many of the same characteristics of primitive money. Modern money is very portable5 when people carry checkbooks. For example, they really are carrying very large sums of money since checks can be written in almost any amount.
Modern money is very durable6. Metallic coins last a long time under normal use7 and generally do not go out of circulation8 unless they are lost. Paper currency also is reasonably durable. Modern money also rates high in divisibility9. The penny which is the smallest denomination of coin10, is more than small enough, for almost any purchase. In addition, checks almost always can be written for the exact amount. Modern money, however, is not as stable in value. The fact, that the money supply11 often grew at a rate 10 to 12 per cent a year was considered as major cause of inflation.
1. to be any substance — бути будь-якою річчю
2. to be accepted as — бути прийнятим як ...
3. payment — плата, платіж
4. to be converted into — бути конвертованим у ...
5. to be very portable — тут: легко переносити
6. to be very durable — тут: довго використовуватися
7. ... last a long time under normal use — за нормального використання довго перебувають в обігу
8. to go out of circulation — виходити з обігу
9. to rate high in divisibility — високо цінити за можливість поділятися
10. denomination of coin — вартість монети
11. money supply — грошова маса
I. Find equivalents:
1. medium of exchange
2. measure of value
3. store of value.
4. to be any substance
5. to issue money
6. modern money
7. to go out of circulation
8. paper/soft money
9. money supply
to express worth
to be converted
а. запас вартості
б. плата, платіж
в. бути конвертованим
г. паперові гроші
д. сучасні гроші
е. виражати вартість
є. грошова маса
ж. засіб обміну
з. бути будь-якою річчю
и. випускати гроші в обіг
і. міра вартості
ї. виходити з обігу
II. Fill in the blanks below with the most appropriate terms from
a store of value ; coin; a Medium of Exchange; currency; a measure of value; currency; inflation; the money supply.
1. Money can be any substance that functions as _________, a Measure of Value, and a Store of Value. 2. As ___________ , money expresses worth in terms that most individuals understand. 3. Money also serves as ___________ . 4. The term ________ refers to metallic forms of money.
5. The term _______ refers to paper money issued by government.
6. Metallic coins generally do not go out of circulation unless they are lost.
7. Paper _________ also is reasonably durable. 8. The fact, that __________ often grows at a rate 10 to 12 per cent a year is considered as major cause of ___________ .
III. Memorize the following words and word-combinations.
Use them in the sentences of your own:
/money in circulation/ — гроші, що перебувають в обігу
bad/bogus/counterfeit money — фальшиві гроші
borrowed money — позичка
checking account money — гроші на поточному рахунку
credit/debt money — кредитні гроші
money at long — довгострокова позичка
money market — валютний ринок
ready/hard money — готівка
to make money — заробляти гроші/розбагатіти
to withdraw money — вилучати гроші з обігу
to keep money with a bank — тримати гроші в банку
to put/to invest money — вкладати гроші
to remit money — переказувати гроші
IV. Translate the sentences paying attention to the italicized words:
1. It’s quite interesting work and the money’s all right. 2. The monetary unit of Japan is yen. 3. Monetary policy is aimed at controlling the amount of money in circulation, usually through controlling the level of lending or credit. 4. Money supply can include notes, coins, and clearing-bank and other deposits used for everyday payments. 5. I am not made of money, you know! 6. I paid good money for that car and it broke down on the first day. 7. The pound had a steady day on the money markets.
V. Match each term in Column A with its definition in Column B:
Column A Column B
a. The exchange of one good or service for another.
b. Anything generally accepted as payment for goods and services.
c. A book of forms for writing cheques.
d. The total amount of money that exists in the economy of a country at a particular time.
e. Period of rising prices during which the purchasing power of the dollar is falling.
6. money supply
f. An institution, such as a bank, that deals in short-term loans, foreign exchange, etc.
7. money market
g. Paper money and coins issued by the federal government.
h. Metallic forms of money.
i. A special printed form on which one writes an order to a bank to pay a sum of money from one’s account.
Define which of the following items best completes
1. Most of the money in circulation consists of
a. paper money.
c. checking accounts.
d. savings accounts.
2. In a money economy, money serves as a
a. medium of exchange.
b. measure of value.
c. store of value.
d. all of the above.
3. The value of money
a. can increase or decrease.
b. remains the same at all times.
c. increases with the passage of time.
d. rises when prices rise.
4. The purchasing power of money
a. increases during periods of inflation.
b. decreases during an inflation.
c. decreases during a deflation.
d. is unaffected by inflation or deflation.
VII. Complete the following sentences:
1. Money can be any substance that functions as ... . 2. As a medium of exchange, money is ... . 3. As a measure of value, money expresses ... .4. It also serves as ... . 5. This means ... . 6. The most familiar forms of money are ... . 7. The term coin refers ... . 8. The term currency refers ... .9. Modern money is very portable when ... . 10. Metallic coins last a long time under normal use ... . 11. The penny which is the smallest denomination of coin, is ... . 12. The fact, that the money supply often grew at a rate 10—12 per cent a year was considered as ... .
VIII. Answer the following questions:
1. In what function is money accepted as payment for goods and services? 2. What is money as a medium of exchange? 3. What does money express as a measure of value? 4. How does money function as a store of value? 5. What are the most familiar forms of money in the United States?
6. What is the difference between coin and currency? 7. What does the term currency refer to? 8. What are the most important characteristics of modern money? 9. What is the life-time of metallic coins? 10. How is the smallest denomination of coin called in the United States? 11. What is the major cause of inflation?
IX. Translate into English:
1. Гроші функціонують як засіб обігу, міра вартості та запас вартості. 2. Різні види грошей перебувають в обігу в Сполучених Штатах Америки. 3. Запас вартості означає, що товари та послуги можна легко конвертувати в гроші. 4. Термін «валюта» відноситься до паперових грошей, а «монета» до грошей, виготовлених з металу. 5. Сучасні гроші мають ті самі характеристики, що й примітивні гроші. 6. Металеві гроші не виходять з обігу аж доти, доки їх не загублять. 7. Пенні — монета найменшої вартості в обігу. 8. Те, що грошова маса щороку зростає на 10—12 відсотків, є основною причиною інфляції.
Home work. Learn the new vocabulary. Do ex. In the textbook.