1. What two reasons are given for saving your money in a bank account?
2. Why do people prefer to borrow money from banks?
3. Do banks do anything else for their customers other than store and lend money?
4. How do banks earn money?
5. Who decides how much money the bank keeps in reserve?
Speaking
Give a two-minute presentation on the history of money. First, read through text 1 again and make notes below on the following.
- bartering
- commodity money
- fiat money
You can also include recent developments not mentioned in the text, such as credit cards and digital money.
Writing
Write a promotional leaflet for a bank. The aim of the leaflet is to attract new customers and to inform existing customers about the services the bank offers.
Use an informal, friendly style like you see in advertisements. Organise the leaflet using the plan shown here.
Promotional Leaflet
Paragraph 1
Give a brief history of the bank and say how big it is today (to give confidence to customers).
Paragraph 2.
Explain what your main services are and what advantages you offer compared to other banks (for example, interest rates).
Paragraph 3.
Say what other services you offer and how they can be useful to your5 customers: for example, special savings schemes for certain people (students / pension schemes for workers) and Internet banking.
Paragraph 4.
Say how customers (or potential customers) can contact the bank (e-mail, web page, phone number, local branches, etc).
Write 200-250 words.
Part II
Money
Vocabulary |
acceptability
accounting
accumulate wealth
bill of exchange ,
cash
check
checkbook money
coin
commodity money
credit money
cash
currency
foreign currency
domestic currency
cheque (check)
travellers check
bankers check
cheque book
to draw a cheque
to cash a cheque
bank-note (paper bill, paper note)
cost of expenditure
demand deposit
deteriorate
divisibility
durability
enhance ,
exchange ;
exchange rate
foreign exchange ,
fiat , ,
fiat money ,
figure ,
means of payment
medium of exchange
meet the conditions
|
|
mint
money
to make money
to spend money
to waste money
to save money
to lend money
to borrow money
to change money ,
to lose money
to owe money
to pay
to earn
to invest ,
electronic money
paper money
representative money
near money
payable on demand
purchasing power
record keeping
savings account ,
stability in value
stand for ,
standard of value
store of value
time deposit
transaction ,
uniformity
unit of accounting
value , ,
wealth ,
worth n. , ,
worth adj. ,
Vocabulary Exercises |
Exc. 1. Look through the following words and say: a). which of them refer to English money: b). which refer to American money.
1) a ten pence piece
2) a quarter
3) a one pound point
4) a dollar bill
5) a five pound note
6) a penny
7) a dime
8) fifty cents