ENGLISH EDUCATION STUDY PROGRAM

PATTIMURA UNIVERSITY

Stella Rose Que, S.S., M.A

NIP. 197108242003122002

ENGLISH for BUSINESS

Textbook Compilation

FACULTY OF TEACHERS TRAINING AND EDUCATIONAL SCIENCES

2020
 Table of Contents
CONTENTS

1. Unit 1: Introduction into Business English…………………………...3

2. Unit 2: Recruitment………………………………………………….11
3. Unit 3: Writing CV and Letter of Application………………………15
4. Unit 4: Job interviews……………………………………………….21
5. Unit 5: Money matters……………………………………………....28
6. Unit 6: Telephoning…………………………………………………48
7. Unit 7: Giving a Successful Presentation……………………………56
8. Unit Vocabulary……………………………………………………..62
9. References…………………………………………………………...72

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 UNIT 1: INTRODUCTION INTO BUSINESS ENGLISH

Exercise 1. Explain the following words and make up sentences with either of them:

1. to mind one’s own business;

2. bad business;
3. dirty business;
4. personal business;
5. business hours;
6. monkey (funny) business;
7. annual business;
8. to be in business;
9. to be out of business;
10. booming business;
11. to build up business;
12. business competition;
13. business corporation.

Exercise 2. Choose three words which you consider the most important ones in any
business from the list below. Explain your answer:

money business promotion customer challenge

result respect profit team spirit prestige

Exercise 3. Read the text about business and answer the questions below:

Business is an organized approach to providing customers with the goods and services
they want. The word business also refers to an organization that provides these goods and
services. Most businesses seek to make a profit - that is, they aim to achieve revenues that
exceed the costs of operating the business. Prominent examples of for-profit businesses
include Mitsubishi Group, General Motors Corporation, and Royal Dutch/Shell Group.
However, some businesses only seek to earn enough to cover their operating costs.
Commonly called non-profits, these organizations are primarily nongovernmental service
providers. Examples of non-profit businesses include such organizations as social service
agencies, foundations, advocacy groups, and many hospitals.

Business Operations

A variety of operations keep businesses, especially large corporations, running

efficiently and effectively. Common business operation divisions include (1) production,
(2) marketing, (3) finance, and (4) human resource management.

Production includes those activities involved in

conceptualizing, designing, and creating
products and services. In recent years there have

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been dramatic changes in the way goods are produced. Today, computers help monitor,
control, and even perform work.
Flexible, high-tech machines can do in minutes what it used to take people hours to
accomplish. Another important development has been the trend toward just-in-time
inventory. The word inventory refers to the amount of goods a business keeps available for
wholesale or retail. In just-in-time inventory, the firm stocks only what it needs for the next
day or two. Many businesses rely
on fast, global computer communications to allow
them to respond quickly to changes in consumer demand. Inventories are thus minimized
and businesses can invest more in product research, development, and marketing.

Marketing is the process of identifying the goods and services that consumers need and
want and providing those goods and services at the right price, place, and time. Businesses
develop marketing strategies by conducting research to determine what products and
services potential customers think they would like to be able to purchase. Firms also
promote their products and services through such techniques as advertising and
personalized sales, which serve to inform potential customers and motivate them to
purchase. Firms that market products for which there is always some demand, such as
foods and household goods, often advertise if they face competition from other firms
marketing similar products. Such products rarely need to be sold face-to-face. On the other
hand, firms that market products and services that buyers will want to see, use, or better
understand before buying, often rely on personalized sales. Expensive and durable goods -
such as automobiles, electronics, or furniture - benefit from personalized sales, as do legal,
financial, and accounting services.

Finance involves the management of money. All businesses must have enough capital
on hand to pay their bills, and for-profit businesses seek extra capital to expand their
operations. In some cases, they raise long-term capital by selling ownership in the
company. Other common financial activities include granting, monitoring, and collecting
on credit or loans and ensuring that customers pay bills on time. The financial division of
any business must also establish a good working relationship with a bank. This is
particularly important when a business wants to obtain a loan.

Businesses rely on effective human resource management (HRM) to ensure that they
hire and keep good employees, and that they are able to respond to conflicts between
workers and management. HRM specialists initially determine the number and type of
employees that a business will need over its first few years of operation. They are then
responsible for recruiting new employees to replace those who leave and for filling newly
created positions. A business’s HRM division also trains or arranges for the training of its
staff to encourage worker productivity, efficiency, and satisfaction, and to promote the
overall success of the business. Finally, human resource managers create workers’
compensation plans and benefit packages for employees.

Exercise 4. Discuss the following questions:

1. Give definition to the word ‘business’.

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 2. What is the difference between for-profit and non-profit organizations? Support
your answer with relevant examples.
3. What is production?
4. Specify the notion of ‘just-in-time inventory’.
5. What is marketing?
6. Define such business operation as finance.
7. What does the HRM involve?

Exercise 5. Discussion. How do you see your future profession? Please answer the
following questions:
What kind of work are you interested in:
1. well paid work
2. interesting work
3. work in a large and famous company
4. quiet work
5. work in an industry which has future prospects
6. prestigious work
7. a kind of work such as not to sit the whole day in the office
8. to travel a lot
Please, discuss advantages and disadvantages of your future profession:
1. Do you think that your future profession is prestigious?
2. Do you think it will be still prestigious and well paid by the time you graduate?
3. How difficult is it to find a good work in your field?
4. Is there a competition in your group?
5. Do you think that competition among your coeds is a good stimulus to study well
or it just makes communication between you more difficult?

Exercise 6. Do the questionnaire, and then compare your answers with a partner:
How do you rate as entrepreneurs?
1. Are you a self-starter?
a. I only make an effort when I want to.
b. If someone explains what to do, then I can continue from there.
c. I make my own decisions. I don’t need anyone to tell me what to do.
2. How do you get on with other people?
a. I get on with almost everybody.
b. I have my own friends and I don’t really need anyone else.
c. I don’t really feel at home with other people.
3. Can you lead and motivate others?
a. Once something is moving, I’ll join in.
b. I’m good at giving orders when I know what to do.
c. I can persuade most people to follow me when I start something.
4. Can you take responsibility?
a. I like to take charge and to obtain results.

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 b. I’ll take charge if I have to but I prefer someone else to be responsible.
c. Someone always wants to be the leader and I’m happy to let them do the job.
5. Are you a good organizer?
a. I tend to get confused when unexpected problems arise.
b. I like to plan exactly what I’m going to do.
c. I just like to let things happen.
6. How good a worker are you?
a. I’m willing to work hard for something I really want.
b. I find my home environment more stimulating than work.
c. Regular work suits me but I don’t like it to interfere with my private life.
7. Can you make decisions?
a. I am quite happy to execute other people’s decisions.
b. I often make very quick decisions which usually work but sometimes don’t.
c. Before making a decision, I need time to think it over.
8. Do you enjoy taking risks?
a. I always evaluate the exact dangers of any situation.
b. I like the excitement of taking big risks.
c. For me safety is the most important thing.
9. Can you stay the course?
a. The biggest challenge for me is getting a project started.
b. If I decide to do something, nothing will stop me.
c. If something doesn’t go right first time, I tend to lose interest.
10. Are you motivated by money?
a. For me, job satisfaction cannot be measured in money terms.
b. Although money is important to me, I value other things just as much.
c. Making money is my main motivation.
11. How do you react to criticism?
a. I dislike any form of criticism.
b. If people criticize me, I always listen and may or may not reject what they have
to say.
c. When people criticize me there is usually some truth in what they say.
12. Can people believe what you say?
a. I try to be honest, but it is sometimes difficult or too complicated to explain
things to other people.
b. I don’t say things I don’t mean.
c. When I think I’m right, I don’t care what anyone else thinks.
13. Do you delegate?
a. I prefer to delegate what I consider to be the least important tasks.
b. When I have a job to do I like to do everything myself.
c. Delegating is an important part of any job.
14. Can you cope with stress?
a. Stress is something I can live with.
b. Stress can be a stimulating element in a business.
c. I try to avoid situations which lead to stress.

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15. How do you view your chances of success?
a. I believe that my success will depend to a large degree on factors outside my
control.
b. I know that everything depends on me and my abilities.
c. It is difficult to foresee what will happen in the future.
16. If the business was not making a profit after five years, what would you do?
a. give up easily.
b. give up reluctantly.
c. carry on.

Key to the questionnaire:

1. a=0 b=2 c=4 9. a=2 b=4 c=0

2. a=4 b=2 c=0 10. a=0 b=2 c=4
3. a=0 b=2 c=4 11. a=0 b=4 c=2
4. a=4 b=2 c=0 12. a=2 b=4 c=0
5. a=2 b=4 c=0 13. a=2 b=0 c=4
6. a=4 b=0 c=2 14. a=2 b=4 c=0
7. a=0 b=4 c=2 15. a=0 b=4 c=2
8. a=2 b=4 c=0 16. a=4 b=2 c=0

44 or above
You definitely have the necessary qualities to become the director of a successful business.
You have a strong sense of leadership, you can both organize and motivate and you know
exactly where you and your team are going.
Between 44 and 22
You may need to think more carefully before setting up your own business. Although you
do have some of the essential skills for running business, you will, probably, not be able to
deal with the pressures and strains that are a part of the job. You should perhaps consider
taking some professional training or finding an associate who can compensate for some of
your weaknesses.
Below 22
Managing your own business is not for you. You are better suited to an environment
where you are not responsible for making decisions and taking risks. To operate
successfully you need to follow well defined instructions and you prefer work that is both
regular and predictable.

Exercise 7: How would you generally feel happy or unhappy, if you were in the following
situations. Use the words in italics to help you decide:

1. The company you work for is well-known for its job security.
2. You were suddenly made redundant.
3. You received a promotion.
4. You were given an increment.
5. You worked unsociable hours.

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 6. You had a steady job.
7. You had adverse working conditions.
8. You suddenly found yourself unemployed.
9. You took time off work because of repetitive strain injury.
10. The office where you work has sick building syndrome.
11. You receive regular perks as part of your job.
12. Somebody called you a workaholic.
13. Your company doesn’t give you many incentives.
14. Your boss announces that there is going to be some downsizing of the workforce.
15. Your work didn’t offer much job satisfaction.
16. Your company has a generous incentive scheme.
17. You receive a commission for the work you have done.
18. You receive support from a union.
19. You were under stress.
20. You were forced to resign.
21. You received a cut in your salary.
22. Your company gave you sickness benefit.
23. You found your job very demanding.

Exercise 8: Match sentences 1-6 in the first box with one of the sentences A-F in the
second. Use the words in italics to help you:

1. Samantha is the assistant manager of a bank and she works from 8.30 to 5.30 every
day.
2. Tracy works on the production line of a factory which makes cars. She uses a
machine to spray paint onto the finished car parts.
3. Jane works for herself. She is a photographer. She works every day for about
eight or nine hours.
4. Jeanette is a cleaner for a company in Birmingham, but she only works there for
about three or four hours a day.
5. Claire has a powerful job in the personnel office of a large multinational company.
She is responsible for employing new people and getting rid of those that the
company doesn’t want to employ anymore.
6. Marie works in the finance department of an international college in Oxford.
A. She is a semi-skilled blue-collar worker in a manufacturing industry.
B. She is a self-employed and works full-time. She likes to describe herself as
freelance.
C. She is responsible for hiring and firing.
D. She calculates the wages, salaries, pension contributions and medical insurance
contributions of all the staff.
E. She is a full-time white-collar worker in a service industry.
F. She is an unskilled part-time employee.

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Exercise 9: Now read this essay and complete the gaps with one of the words or
expressions from Exercise 7 and 8. You may need to change the form of some of the
words:

‘Some people live to work, and others work to live. In most cases, this depends on the
job they have and the conditions under which they are employed. In your opinion, what
are the elements that make a job worthwhile?’

In answering this question, I would like to look first at the elements that combine to make
a job undesirable. By avoiding such factors, potential 1)__________ are more likely to
find a job that is more worthwhile, and by doing so, hope to achieve happiness in their
work.
First of all, it doesn’t matter if you are an
2)____________ worker cleaning the floor, a
3)_______________ 4)______________ worker
on a production line in one of the 5)____________, or
a 6)____________ worker in a bank, shop or one of
the other 7)_____________ : if you
lack 8)_____________, with the knowledge that
you might lose your job at any time, you will never
feel happy. Everybody would like a
9)____________ in which he or she is guaranteed work. Nowadays, however, companies
have a high turnover of staff, 10)____________ new staff and 11)____________ others on
a weekly basis. Such companies are not popular with their workers.
The same can be said of a job in which you are put under a lot of 12)___________ and
worry, a job which is so 13)____________ that it takes over your life, a job where you
work 14)____________ and so never get to see your family or friends, or a physical job in
which you do the same thing every day and end up with the industrial disease that is
always in the papers nowadays – 15)_______________ .
With all these negative factors, it would be difficult to believe that there are any elements
that make a job worthwhile. Money is, of course, the prime motivator, and everybody
wants a good 16)____________ .But of course that is not all. The chance of
17)____________, of being given a better position in a company, is a motivating factor.
Likewise, 18)___________ such as a free lunch or a company car, an
19)____________scheme to make you work hard such as a regular 20)___________
above the rate of inflation, 21)___________ in case you fall ill and a company
22)_____________ scheme so that you have some money when you retire all combine to
make a job worthwhile.
Unfortunately, it is not always easy to find all of these. There is, however, an alternative.
Forget the office and the factory floor and become 23)___________ and work for
yourself. Your future may not be secure, but at least you will be happy.

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 UNIT 2: RECRUITMENT

Exercise 1. Read the following information about recruitment procedures:

A. Recruitment
The process of finding people for particular jobs
is recruitment or, especially in Am. English,
hiring. Someone who has been recruited is a recruit
or, in Am. English, a hire. The company employs or
hires them; they join the company. A company

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may recruit employees directly or use outside recruiters, recruitment agencies or
employment agencies. Outside specialists called headhunters may be called on to
headhunt people for very important jobs, persuading them to leave the organizations they
already work for.
This process is called headhunting.
B. Applying for a job
Fred is a van driver, but he was fed up with long trips. He looked in the situations
vacant pages of his local newspaper, where a local supermarket was advertising for van
drivers for a new delivery service. He applied for the job by completing an application
form and sending it in.
Harry is a building engineer. He saw a job in the appointment pages of one of the
national papers. He made an application, sending in his CV (curriculum vitae – the
“story” of his working life) and a covering letter explaining why he wanted the job and
why he was the right person for it.
Note: BrE: CV; AmE: resume
BrE: covering letter; AmE: cover letter.
C. Selection procedures
Dagmar Schmidt is the head of recruitment at a German telecommunications company.
She talks about the selection process, the methods that the company uses to recruit people:
“We advertise in national newspapers. We look at the backgrounds of applicants: their
experience of different jobs and their educational qualifications. We don’t ask for
handwritten letters of application as people usually apply by email; handwriting analysis
belongs to the 19th century.
We invite the most interesting candidates to a group discussion. Then we have
individual interviews with each candidate. We also ask the candidates to do written
psychological tests to assess their intelligence and personality.
After this we shortlist three or four candidates. We check their references by writing to
their referees: previous employers or teachers that candidates have named in their
applications. If the references are OK, we ask the candidates to come back for more
interviews. Finally, we offer the job to someone, and if they turn it down, we have to
think again. If they accept it, we hire them. We only appoint someone if we find the right
person”.

Exercise 2. Complete the following sentences with the right word or phrase:

a. I hope she …………., because if she …………….the job, we’ll have to start
looking again.
b. That last applicant was very strong, but I understand he’s had two other ………..
already.
c. They’ve finally ……….. a new receptionist.
d. I phoned to check on my application, but they said they’d already
……….someone.
e. This job is so important, I think we need to ………… someone.
f. Computer programmers wanted. Only those with UNIX experience should

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 …………….
g. The selection process has lasted three months, but we’re going to ……someone
next week.

Exercise 3. Replace the underlined phrases with correct forms of words and expressions
from A, B and C:

Fred had already refused two job offers when he went for a discussion to see if he was
suitable for the job. They looked at his driving licence and contacted previous employers
Fred had mentioned in his application. A few days later, the supermarket asked him if he
would like the job and Fred said yes.
Harry didn’t hear anything for six weeks, so he phoned the company. They told him
that they had received a lot of requests for the job. After looking at the life stories of the
people asking for the job and looking at what exams they had passed during their
education, the company had chosen six people to interview, done tests on their personality
and intelligence and they had then given someone the job.

Exercise 4. Read this newspaper article and find the answers to the following questions in
the text:

1. What were the TWO reasons why Virgin Atlantic was considering redundancies?
2. What were the TWO things Richard Branson invited his staff to do?
3. How many people volunteered to take unpaid leave?
4. How did the long break affect the staff’s attitude to their work?
5. Why is the scheme attractive to new recruits?
6. Is the scheme going to become permanent?

Branson’s new route to more jobs

by Celia Weston
For many young people lucky enough to get a job after leaving school or college, the
biggest shock of the transition to work is how few holidays they get.
Having spent their academic years working an eight or nine-month year, it can be
depressing to realize that for the rest of their working lives they will be able to take only
four weeks off a year.
Many would jump at the chance to take three months off - and that’s exactly what
happened at Virgin Atlantic, the airline run by Richard Branson. He believes the new
initiative could help to reduce unemployment.
Faced last autumn with the recession and with its failure to acquire more flight slots out
of Heathrow airport, the company was having to consider redundancies. Mr. Branson
wrote to staff saying that cutting back on jobs was “something I have never wanted to do”.
Instead he invited employees to take up to six months unpaid leave and to participate in a
job-sharing scheme.
The immediate crisis passed but the idea of a
shorter working year took off. When the company
later asked for 300 volunteers to take three

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months unpaid leave, 450 put their names forward. Mr. Branson said: “To be fair and
share it around, in some cases we said that people could only take six weeks.”
Most of the volunteers were cabin crew but other staff, including secretaries and pilots,
took advantage of the offer as well. “And when they came back from their break ... they
definitely seemed to enjoy work more,” he said.
The company tends to recruit and train its own staff from scratch. As Mr. Branson
said: “If you’ve been at college or on the dole, working for only nine months still makes
you a lot better off financially than you were before.” He believes there is a broader social
benefit to be achieved. “If you are only taking on people for nine months, that will enable
others who would otherwise have no work or be living on the dole to have a chance too.”
And he goes further. “I think this should be the basis of a pattern across the whole
European Community for the first few years of working life.”
Nor was a shorter working year only applicable to young people. “If older women and
men with children can afford it because one partner’s working 12 months and the other
nine, I think a lot of people would like to earn slightly less and be able to spend more time
with their children,” Mr. Branson said.
This year the scheme is on offer again, although not over the busy summer period. “All
the people who took time off last year would like to do so again,” Mr. Branson said. But
its realization depended on whether the company could recruit enough people to allow
400-500 existing staff to take three months off.
The company was considering whether the arrangement should become a permanent
feature, Mr. Branson said. “For new people being taken on in most departments, we’re
thinking about making nine-month working a standard contract.”

Exercise 5. Work in groups. Discuss these questions:

1. What are your views on Richard Branson’s scheme? Would you like to participate
in such a scheme?
2. Would such a scheme succeed in the firm you work/have worked for? Why not?
3. Why do you think so many of Virgin’s cabin crew took advantage of the scheme?
4. Could this kind of scheme only succeed with a youthful staff who have few family
responsibilities?
5. How could you persuade people who have considerable working experience and
are used to earning a certain wage that they should take a pay cut?
6. What do you think of the following :
a four-day week a nine-day fortnight seasonal work job sharing

Exercise 6. Insert the following words in the gaps in the text below:

applicant application application form apply candidate

curriculum vitae or CV (GB) or resume (US) employment agencies
interview job description job vacancies references short-listed

Many people looking for work read the (1) …………………….. advertised in newspapers
by companies and (2) …………………. . To reply to an advertisement is to (3)

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……………… for a job. (You become a (4) ………………… or an (5)
…………………………). You write an (6) ……………………, or fill in the company’s
(7) ……………………, and send it, along with your (8) …………………….. and a
covering letter. You often have to give the names of two people who are prepared to write
(9) ………………….for you. If your qualifications and abilities match the (10)
…………………., you might be (11) ……………………, i.e. selected to attend an (12)
……………………… .

Exercise 7. When employees ‘give notice’, i.e. inform their employer that they will be
leaving the company (as soon as their contract allows), in what order should the company
carry out the following steps?

a. either hire a job agency (or for a senior post, a firm of headhunters), or advertise
the vacancy
b. establish whether there is an internal candidate who could be promoted (or moved
sideways) to the job
c. examine the job description for the post, to see whether it needs to be changed (or
indeed, whether the post needs to be filled)
d. follow up the references of candidates who seem interesting
e. invite the short-listed candidates for an interview
f. make a final selection
g. receive applications, curricula vitae and covering letters, and make a preliminary
selection (a short list)
h. try to discover why the person has resigned
i. write to all the other candidates to inform them that they have been unsuccessful

UNIT 3: WRITING CV AND LETTER OF APPLICATION

Exercise 1. Work in pairs. Discuss these questions:

 What impression do you try to give in an application letter?

 Should an application letter be handwritten, typed, or laser-printed?
 Do you always tell the absolute truth in application letters?

Exercise 2. Write ten DOs or DON’Ts to help people who are writing letters of
application. The first ones have been done for you.
Do write clearly.
Don’t use a pencil.

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Exercise 3. Read the following information about writing letters of application:

Writing application letter

A letter of application should create enough interest to make the
potential employer want to look at your application in greater detail by
reading your CV and hopefully invite you for an interview. Your
application letter, however, should not contain too much detail about
your experience and qualifications because that is the job of the CV.
Layout and style
The letter should be limited to one page and a few paragraphs will
normally be sufficient. It is better to address a letter to a specific person, e.g. Dear Miss
Chan, rather than to Dear Sir or Madam. However, in some job advertisements the name
of the person you are writing to is not given. It is good practice to try to find out the
following information before you write your letter:

• the full name of the person you are writing;

• their title - Mr., Mrs., Miss, Ms, Dr, Professor, etc, and;
• their position - Personnel Manager, Human Resources Manager, etc.

All this information can be obtained by a quick phone call to the company. Remember,
never write Dear Miss W. Chan. It should be Dear Miss Chan. Do not use the initial
except in the address. If you start with Dear Sir/Madam, it is accepted practice to finish
with Yours faithfully. Whereas, if you start with Dear Miss Chan, you may finish with
Yours sincerely. Your letter should be neat and free from careless mistakes. You can
follow the blocked and open punctuation style. Whichever layout style you choose to use,
you should use it consistently throughout the letter. Structure of the letter
Paragraph 1 It should state clearly why you are writing and where you saw the job
advertised.

1. I would like to apply for the post of ... as advertised in today’s issue of..
2. With reference to your advertisement in ... on ..., I am writing to apply for the position
of ...

Paragraph 2 It should give a little information about your qualifications and

experience. Make sure the information you give is relevant to the job that you are applying
for.

1. As you can see from my enclosed CV, I have worked in my present position for five
years. During this time I have gained invaluable experience in ...
2. I am currently a student at TPU studying ........ I am due to graduate in.......
Although I have been studying full time, I have had a number of summer jobs
which have helped me to gain experience in ...
3. My experience over the past two years has been at the managerial level, where I
have had responsibility for ...

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 Paragraph 3 It should say why you believe you are suited to the job and what you can
offer the company. Those currently employed can state the reason for wishing to change
their present job. However, you should not sound critical of your present employer.

1. I am currently working as a receptionist in ...The reason for my seeking a new position

is that I wish to pursue a secretarial career. Unfortunately, there are no openings for
advancement in my present employment.

2. For the last two years I have been working as a receptionist in ...Unfortunately the
company is moving its main offices overseas and I have therefore decided to look for a
new position. I believe that the experience I have gained in ... has given me the
qualities you are looking for ...

3. I believe I would be an asset to your company. I will be able to bring with me my

experience of ... which I believe would be useful in this position…

4. I feel that my ability to ... will help/enable me to ...

Paragraph 4 It should tell the reader when you are available for an interview and how
to contact you.

1. I would like to have the opportunity to talk to you further about my application. I
am available for interview at any time and I can be contacted at/on ...

2. I am available for an interview at any time but would appreciate two days notice. I
can be contacted on/at ...

I look forward to hearing from/meeting you soon.

3. As requested in the advertisement, I enclose a copy of my resume together with a
recent photograph.

I look forward to meeting with you to discuss my application further. I am

available ... and can be contacted on/at ...

Remember you might have to give a bit more detail than in the above examples. You
can also combine the language in these examples. Also, it is sometimes useful to gather
information about the company so that you know more about its background and policies.
This may help you present yourself in the best light.

Exercise 4. Read the following extracts from two letters about the advertisement for
administrative clerk. Fill in each blank with a word from the following list:

as audio available consider enclose inquiries favourably

for form further in opportunity position take to with

A. Dear Sir or Madam,

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In reference (1)……….your advertisement in today’s ‘Morning News’, I am interested (2)
……….applying for the (3)……….of administrative clerk with your company. Could you
please send me (4)……….details and an application (5)……….

B. Dear Sir,

I would like to apply (6)……….the position of administrative clerk with your company. I
(7)……….my application form. I am presently working (8)……….a secretary in the
accounts office at TW Industries. My responsibilities include (9)……….and copy typing
and dealing (10)……….correspondence and telephone (11)………. . Twice a week I have
been going to evening classes in bookkeeping and I intend to (12)……….an examination
in three month.
I am applying for the position because I would like an (13)……….to make more use of
my training.
I would be (14)……….for an interview at any time.
I hope that you will (15)……….my application (16)……….

Exercise 5. Look at this job ad: what would be its attractions - what might be its
drawbacks? Based on the information from Exercise 5 write a letter of application to
ACME Atlantic.

Work in Bermuda!
ACME Atlantic are a well-known and respected trading company. We handle imports
directly from manufacturers in 35 different countries, often to our own specifications, and
currently export to 46 different countries worldwide.
We are looking for enthusiastic people to work in our office in Bermuda on temporary 3-
6- and 9-month contracts. Applicants must be able to speak and write at least one foreign
language fluently and can be nationals of any country.
Experience in import/export will be an advantage, but as special training will be available
this is not essential. The main requirements are a willingness to work as a member of a
team, to cope with pressure, to use the telephone in a foreign language and in English and
to be prepared occasionally to work long hours when necessary.
There are several posts available and long-term prospects are good, though initially all
successful applicants will be contracted for a maximum of 9 months.
The salary we will offer is excellent. We will pay for your return air fare and provide
adequate accommodation at a nominal rent.
Please apply in your own handwriting, enclosing your resume, to Charles Fox,
European Sales Office, ACME Atlantic Ltd, 45 Pentonville Road, London EC2 4AC.

Exercise 6. Read the following information about CV writing:

17
 Format for a Curriculum Vitae (CV)
A Curriculum Vitae, commonly referred to as CV, includes a summary of your
educational and academic backgrounds as well as teaching and research experience,
publications, presentations, awards, honors, and affiliations.
International employers often expect to read the type of personal information on a
curriculum vitae that would not be included on a resume. When writing a CV for graduate
school or academia the personal information included in this curriculum vitae template
would be omitted.
The following curriculum vitae template will give you an example of what to include in
your CV and show the appropriate format for a curriculum vitae.

18
 Sample Curriculum Vitae Template

CONTACT INFORMATION
Name
Address
Telephone
Cell Phone
Email

PERSONAL INFORMATION
Date of Birth
Place of Birth
Citizenship
Visa Status Sex

Optional Personal information:

Marital Status
Spouse’s Name
Children

EMPLOYMENT HISTORY
Work History
Academic Positions
Research and Training

EDUCATION
High School
University
Graduate School
Post-Doctoral Training

PROFESSIONAL QUALIFICATIONS
Certifications and Accreditations
Computer Skills

AWARDS

PUBLICATIONS

PROFESSIONAL MEMBERSHIPS

INTERESTS
Having a well written, effective resume at one’s disposal is an excellent tool in
today’s ever changing job market. A strong resume may be the sole difference in
getting a call for an interview or simply having your resume tossed into the proposed

19
employer’s sludge pile. Simply put, an effective resume may win you a job interview.
In the world of academia, a strong resume, known as a curriculum vitae (CV) may open
the door towards a tenured position.

Exercise 7. Rewrite this letter in a suitably formal style. Some sentences may have to be
left out altogether. Check your version with another student:

11 Oakwood Road
Stanhope, Birmingham
8th October

Dear Mr. Scott,

I am writing because you said you wanted a Service technician in The Evening Mail of 7th
October. I’ve put my life story in with this letter. If you look at it you’ll see I know a lot
about engineering because I’ve been a maintenance engineer for six years. So I’ve learnt
a lot about servicing manual and electrical systems. I took a conversion course the other
day, all about pneumatic, hydraulic and electrical systems. It was pretty easy. Now I’m
going to evening classes in the same things, and I hope I’ll pass the exams at the end!

I liked your comment in the ad about “good prospects” because I’m not just in it for the
money. I want a job that’ll mean something. I’m sure you’ll understand.
Get in touch if there’s anything else you need to know. Give me a ring at work, it’s
423419. In the evenings, you can always get me at my mother’s in King Oak. I can come
and see you at any time except Tuesdays, which are a bit awkward.

Best wishes,
Richard Walters

20
 UNIT 4: JOB INTERVIEWS

Exercise 1. Below you will see some common expressions that you might find useful. Put
each expression into the correct box according to the function of that expression:
18. That’s right
1. May I think about that for a 19. I don’t entirely agree with you
moment? 20. Perhaps I should make that
2. In short, ... clearer by saying...
3. What I’m trying to say is... 21. How can I best say this?
4. To sum up, ... 22. Could you repeat what you said?
5. What are your views on...? 23. I couldn’t agree more
6. Would you mind repeating 24. Actually...
that? 25. To put it another way...
7. How can I put this? 26. That’s just what I was thinking 27.
8. In other words... In brief, ...
9. Sorry to say but... 28. Could I just say that ...
10. Well, as a matter of fact... 11. 29. Well, my own opinion is that... 30.
I’m not so sure about that That’s my view exactly
12. Pardon? 31. To summarise, ...
13. I can’t help thinking the same 32. What was that?
14. What are your feelings 33. I must take issue with you on that
about...? 34. Let me get this right 35. Sorry to
15. So in conclusion, ... interrupt, but...
16. I see things rather differently 36. I’m afraid I didn’t catch that
myself 37. What’s your opinion?
17. True enough
Agreeing with somebody Disagreeing with somebody

Example: Yes, I agree. Example: I’m afraid I disagree.

Interrupting Asking for clarification or repetition

Example: Excuse me for interrupting. Example: I’m sorry?

Asking somebody for their opinion Saying something in another way

Example: What do you think about...? Example: What I mean is

Giving yourself time to think Summing up

Example: (in response to a question) Example: So basically.....

Let me see.

21
Exercise 2. Work in groups. Think of the last interview you attended and discuss these
questions:

 What was the worst thing about it?

 What difficult questions were you asked?
 Why do you think you were successful, or unsuccessful?
 If you could go through the interview again, what would you do differently?
 In an interview, do you always have to be completely honest?
 What impression do you try to give in an interview?

Exercise 3. Imagine that a young friend of yours is about to attend his or her first
interview. Note down some more advice that you would give:
e.g. Do your homework: find out about the company
Prepare some questions to ask about the company and what the job entails
Wear smart, formal clothes, etc.

Exercise 4. Read the following information about an interview, its types and methods of
success. Prepare a short presentation on either of these topics:

JOB INTERVIEWING. GETTING DOWN TO BASICS

A job interview is your chance to show an employer what he or she will get if you’re
hired. That is why it is essential to be well prepared for the job interview. There exist five
basic types of interviews:

The Screening Interview

This is usually an interview with someone in human resources. It may take place in
person or on the telephone. He or she will have a copy of your resume in hand and will try
to verify the information on it. The human resources representative will want to find out if
you meet the minimum qualifications for the job and, if you do, you will be passed on to
the next step.
The Selection Interview
The selection interview is the step in the process which makes people the most anxious.
The employer knows you are qualified to do the job. While you may have the skills to
perform the tasks that are required by the job in question, the employer needs to know if
you have the personality necessary to “fit in.” Someone who can’t interact well with
management and co-workers may disrupt the functioning of an entire department. This
ultimately can affect the company’s bottom line.
The Group Interview
In the group interview, several job candidates are interviewed at once. The interviewer
or interviewers are trying to separate the leaders from the followers. The interviewer may
also be trying to find out if you are a “team player.” The type of personality the employer

22
is looking for determines the outcome of this interview. There is nothing more to do than
act naturally.
The Panel Interview
The candidate is interviewed by several people
at once. It can be quite intimidating as questions are
fired at you. You should try to remain calm and establish
rapport with each member of the panel. Make eye contact
with each member of the panel as you answer his or her
question.
The Stress Interview
It is not a very nice way to be introduced to the company
that may end up being your future employer. It is, however,
a technique sometimes used to weed out those that cannot handle adversity. The
interviewer may try to artificially introduce stress into the interview by asking questions so
quickly that the candidate doesn’t have time to answer each one. The interviewer may also
ask weird questions, not to determine what the job candidate answers, but how he or she
answers.

Preparing for the Interview

Before you begin to think about how you will dress for the interview, or answer
questions, you should gather as much information about the employer as you can. Not
only will you appear informed and intelligent, it will also help you make a decision if a
job offer is eventually made.
You might also want to prepare for answering questions by listing some of your
attributes. Talk to former co-workers with whom you worked closely. Ask them to list
some traits about you that they most admired - work related, of course.
You want to seem somewhat spontaneous, but you also want to appear self-confident.
The way to do that is to rehearse, not exactly what you will say, but how you will say it. A
great method is to rehearse in front of a video camera. Study your posture, the way you
make eye contact, and your body language.

Dressing for the Interview

Appearance is very important and whether we like it or not, it is the first thing
people notice about us. You should match your dress to employees in the workplace in

23
 which you are interviewing and probably take it up a notch. If dress is very casual,
those being interviewed should wear dress pants and dress shirts or skirts and blouses.
Don’t choose a Friday, since many offices have “casual Fridays.” Your hair should
be neat and stylish. Your nails should be well manicured and clean. Men’s nails should
be short. Women’s nails should be of a reasonable length and polished in a neutral
color. Also for women, makeup shouldn’t be heavy. Perfume or cologne should be
avoided as some people find certain scents offensive.
Establishing Rapport
Since the interviewer’s job is to make sure that not only your skill, but your personality
as well, is a good match, you must establish rapport with the person or persons
interviewing you. That begins the instant you walk in the door. Let the interviewer set the
tone. Nothing is as awkward as offering your hand and having the gesture not returned by
the other person. Therefore, you should wait for the interviewer to offer his or her hand
first, but be ready to offer your hand immediately.
Body Language
They say that body language gives more away about us than speech. Eye contact is
very important but make sure it looks natural. A smiling, relaxed face is very inviting.
Hands resting casually in your lap rather than arms folded across your chest also is more
inviting.
Answering Questions
When it comes down to it, isn’t this the main point of the interview? Speak slowly and
clearly. Pause before you answer a question. Your answers will seem less rehearsed and it
will give you a chance to collect your thoughts.
Asking Questions
Usually toward the end of the interview, the person conducting it will ask you if you
have any questions. You should have some. You should ask about what a typical day
would entail. You could also ask what special projects you would be working on. As in
every other aspect of the job search, you are trying to show the employer how you can fill
their needs.
Illegal Questions
We have all heard horror stories of interviewers asking job candidates inappropriate
questions, such as those about marital status, age, and family status. These questions
should not be asked, but it is up to you whether to answer them.
Money Questions
Money is a very sensitive topic. The candidate shouldn’t bring it up. However, the
interviewer may bring it up first. He or she may ask what salary you hope to earn. You
must prepare for this question before the interview. Find out what others in the same
position are earning. Always give a range, not an exact number. This will help keep you
from pricing yourself out of a job. You don’t want the employer to think they can’t afford
you, but you also don’t want them to think you are a cheap commodity. After the
Interview
This is something that is too often neglected. It’s
the thank you note or follow-up letter. It is your
chance to reiterate something you mentioned

24
on the interview or bring up something you forgot to mention. It is also a nice gesture and
a simple matter of politeness.

Exercise 5. Here are some tips relating to your appearance and body language. For each
one select the correct missing word from the options below:

1. Make sure your clothes are clean, but ________ wear obvious logos or designer names.
a. do
b. don’t
c. must
2. Don’t use __________ much deodorant or perfume!
a. to
b. too
c. two
3. Don’t wear too much jewellery. Interviewers don’t ______ like rings!
a. never
b. sometimes
c. usually
4. Wear _______ that are smart, but comfortable.
a. cloths
b. clothes
c. covers
5. Arrive well __________ the interview time.
a. before
b. after
c. later than
6. Make eye ________ with the interviewer when you are introduced.
a. contactation
b. contiction
c. contact
7. Give a firm handshake, and make sure you ___________!
a. snarl
b. smile
c. snigger
8. Don’t ________. This will distract the interviewer from what you’re saying.
a. fidget
b. figgit
c. fijit
9. Don’t appear over-confident, for example by leaning too far back in your chair, but do
try to __________.
a. relax

25
 b. relapse
c. collapse

Exercise 6. Match the common interview question on the left with the suitable response
from the list on the right:
1. Why did you choose this company? A. People say I’m sociable, organized, and
decisive.

2. What are your strengths/weaknesses? B. My aim is to have a position in the

Management Team.
3. How would your friends describe you?
C. I have excellent time management,
4. What is your greatest achievement? but I can be impatient for results.

5. How well do you work in a team? D. Because I think I will find the work
environment both challenging and
6. Where will you be in 5 years? rewarding.

E. I always support my colleagues and

believe we should work towards a
common goal.

F. Leading the University football

team to the national Championships.

Exercise 7. The words in the column on the right are phrases that use the word career.
For each definition on the left, match it to the correct phrase on the right:
1. Chances of future success in your A. career move
career
2. The direction you hope your career B. career break
will take
3. A change you make in order to C. career prospects
progress
4. Time when you are not employed, D. career ladder
perhaps when travelling or looking
after children E. career plan
5. A series of promotions towards
more senior positions

Exercise 8. Read the text below which advises candidates how to answer difficult
interview questions. For each question, mark the correct answer – right, wrong or not
given:

26
Attending interviews
Good interviewers prepare their questions carefully in advance according to the
candidate’s application and CV. So candidates need to prepare just as carefully. Here are
some useful tips on answering interview questions.

1. What don’t you like about your current position?

No job is perfect; there’s always something we don’t like. Be honest but don’t give a list
of complaints. The important thing is to talk positively about how you deal with problems
at work.
2. Where does your employer think you are today?
Be honest. If you lie to your current
employer, you’ll lie to your next
employer. Don’t phone in sick on the day
of the interview. Take a day’s holiday but
don’t say why.
3. What are your professional
objectives?
Think about these before the
interview. Your objectives should be
relevant to the job you have applied
for and achievable. If the new
job can’t offer you everything you
want, the interviewer will think that you probably won’t stay with the company very
long.
4. What are your weaknesses?
Be honest; no-one is perfect. Think about this before the interview and choose your
answer carefully. Talk about how you deal with a weakness; this is far more important
than the weakness itself.

1. Interviewers ask every candidate the same questions.

2. You shouldn’t mention problems with your current job.
3. You should arrange to have a day off for the interview.
4. You should give your personal objectives.
5. Your objectives should suit the position you apply for.
6. You should practise your answers at home.
7. You shouldn’t discuss things you aren’t good at.

Exercise 9. Work in groups. Take turns to carry out the interview:

Student A:
You are applying for the position of a manager at a famous manufacturing company. You
have exactly five minutes to find out if it is the right job for you. Prepare questions on the
five features of character which you consider the most important.

27
Student B:
You are the chair of the manufacturing company. You have exactly five minutes to find
out whether the candidate you are interviewing is the right person for the job. Prepare
questions on the candidate’s experience, character and qualifications.

UNIT 5: MONEY MATTERS

Exercise 1. For each of the six questions choose one correct answer:

1. ‘I’ve got money in the bank again, so now I’m back in the ________.’ a. red
b. black
c. yellow
d. green
2. Choose the more formal alternative for the word in bold.
‘That picture cost me twenty quid.’
a. dollars
b. pounds
c. pence
d. cents
3. If you haven’t got any money, you are ________.
a. broken
b. broke
c. smashed
d. shattered
4. How would you say the following amount of money? £1276
a. One thousand and two hundred and seventy six pounds.
b. One thousand, two hundred and seventy six pounds.
c. One thousand and two hundred, seventy six pounds.
d. One million, two hundred and seventy six pounds.
5. “It costs a fiver”. In Britain this means ________.
a. fifty pence
b. five thousand pounds
c. five hundred pounds
d. five pounds
6. The following are all types of money. Which one do you borrow when you want to buy
a house?
a. pocket money
b. mortgage
c. allowance
d. grant

Exercise 2. Read the information about the functions and characteristics of money and do
the exercises below:

28
 THE FUNCTIONS AND CHARACTERISTICS OF MONEY
American businesses produce, market, and distribute goods and services. Money
makes it possible for businesses to obtain what they need from suppliers and for
consumers to obtain goods. Money is defined as anything customarily used as a medium of
exchange, a unit of accounting, and a store of value. The basis of the market economy is
voluntary exchange. In the American economy, the exchange usually involves money in
return for a good or service.

The Functions of
Money
Most Americans think
of money as bills, coins, and
checks. Historically,
and in other economies,
money might be shells, gold, or
even goods such as sheep.
Economists identify money
by the presence or absence of
certain functions.
Anything that is used as a medium of exchange, a unit of accounting, and a store of value
is considered money. For example, Native Americans used wampum - beads made from
shells. Fijians have used whales’ teeth.
There are three functions of money.
Medium of Exchange. To say that money is a medium of exchange simply means that
a seller will accept it in exchange for a good or service. Most people are paid for their
work in money, which they then can use to buy whatever they need or want. Without
money people would have to barter - exchange goods and service for other goods and
services.
Suppose you worked in a grocery store and were paid in groceries because money did
not exist. To get whatever you needed, such as clothes and housing, you would have to
find people who have the goods that you want. In addition, those people would have to
want the exact goods - in this case, groceries - that you have. Barter requires what
economists call a double coincidence of wants. Each party to a transaction must want
exactly what the other person has to offer. This situation is rare. As a result, people in
societies that barter for goods spend great amounts of time and effort making trades with
one another. Bartering can work only in small societies with fairly simple economic
systems.
Unit of Accounting. Money is the yardstick that allows people to compare the values
of goods and services in relation to one another. Money that is a measure of value
functions in this way as a unit of accounting. Each nation uses a basic unit to measure the
value of goods, as it uses the foot or meter to measure distance. In the United States, this
base unit of value is the dollar. In Japan, it is the yen; in France, the franc. An item for sale
is marked with a price that indicates its value in terms of that unit.
Using money as the single unit of accounting provides a simple and convenient way to
compare the values of various items. By using money prices as a factor in comparing

29
 goods, people can determine whether one item is a better bargain than another. A single
unit of accounting also allows people to keep accurate financial records - records of debts
owed, income saved, and so on. Businesspeople can better calculate their profits and
losses over the years by using a single money unit of accounting.
Store of Value. Money also serves as a store of value. You can sell something, such as
your labor, and store the purchasing power that results from the sale in the form of money
for later use. People usually receive their money income once a week, once every two
weeks, or once a month. However, they usually spend their income at different times
during a pay period. To be able to buy things between paydays, a person can store some of
his or her income in cash and some in a checking account. It is important to note that in
periods of rapid and unpredictable inflation, money is less able to act as a store of value.
The Types and Characteristics of Money
Anything that people are willing to accept in exchange for goods can serve as money.
At various times in history, cattle, salt, animal hides, gems, and tobacco have been used as
mediums of exchange. Each of these items has certain characteristics that it better or worse
than others for use as money. Cattle, for example, are difficult, to transport, but they are
durable. Gems are easy to carry, but they are not easy to split into small pieces to use.
The table below lists the major characteristics that to some degree all items used as
money must have. Almost any item that meets most of these criteria can be and probably
has been used as money. Precious metals, however, particularly gold and silver, are
especially well suited as mediums of exchange, and have often been used as such
throughout history. It is only in more recent times that paper money has been widely used
as a medium of exchange.
Mediums of exchange such as cattle and gems are considered commodity money. They
have a value as a commodity, or good, aside from their value as money. Cattle are used for
food and transportation. Gems are used for jewelry.
Representative money is money backed by - exchangeable for - some commodity, such
as gold or silver. It is not in itself valuable for nonmoney uses, but it can be exchanged for
some valuable item. Like commodity money, the amount of representative money
circulation, or in use by people, is limited because it is linked to some scarce good, such
as gold. At one time the United States government issued representative money in the
form silver and gold certificates. In addition, private banks accepted deposits of gold or
silver and issued paper money, called bank notes. These were a promise to convert the
paper money into coin or bullion on demand. The banks were supposed to keep enough
gold or silver in reserve - on hand to redeem their bank notes. Often, they did not.
Today all United States money is fiat money. Its face value occurs through government
fiat, or order. It is in this way declared legal tender.

Characteristic Description

Durable Money must be able to withstand the wear and tear of being
passed from person to person. Paper money lasts on the
average of only one year, but old bills can be easily replaced.
Coins, in contrast, last for years.
Portable Money can be carried around easily. Though paper money is

30
 not very durable, people can easily carry large sums of paper
money.
Divisible Money must be easily divided into small parts so that
purchases of any price can be made. Carrying coins and small
bills makes it possible to make purchases of any amount.
Stable in value Money must be stable in value. Its value cannot change rapidly
or its usefulness as a store of value will decrease.
Scarce Whatever is used as money must be scarce. That is what gives
it value.
Accepted Whatever is used as money must be accepted as a medium of
exchange in payment for debts. In the United States,
acceptance is based on the knowledge that others will continue
to accept paper money, coins, and checks in exchange for
desired goods and services.

Exercise 3. After reading the text in Exercise 2, fill in the missing word or words:

Money, regardless of what form it takes, has three major functions. When sellers are
willing to accept it as payment for goods or services, money functions as a 1)________
_________ _________. As a 2)___________ __________ __________, money allows
people to compare the values of various items and to keep accurate records. Money in a
convenient form serves as a 3)__________ __________ _________, allowing people to
save for the future.
Whatever is used as money must be 4)____________________, which is what gives it its
value. Money, to be easy to handle and use, must be 5)________________ and
6)_________________ into small parts. Finally, money must
have 7)_______________________ value and be 8)_________________ to withstand
normal use.
Certain items such as furs or minerals used in barter are referred to as
9)____________________ money. Currency backed by some 10)___________________
such as gold is called 11)__________________ money. In the United States and other
countries, government decree creates 12)____________________ money, also known as
13)________ _________. This type of money is backed mainly by society’s
14)_________________in its value.

Exercise 4. Read the following text and summarize the notion of money and its basic
types:
TYPES OF MONEY IN THE UNITED STATES
Money Is More Than Cash
When you think of money, you may think only of paper bills and coins. What does it mean
to have “money in the bank”?

31
 Money and Near Moneys
Money in use today consists of more than just currency. It also includes deposits in
checking and savings
accounts in banks and
savings institutions, plus
certain other investments.
Currency. All United
States coins in
circulation today are
token coins. The value of
the metal in each coin is
less than its exchange
value. A quarter, for
example,
consists of a mixture of copper and nickel. If you melted down a quarter - which is illegal -
the value of the resulting metal would be less than 25 cents. The Bureau of the Mint,
which is part of the Treasury Department, makes all coins. Of the currency in circulation
in the United States today, about 9 percent is in coins.
Most of the nation’s currency is in the form of Federal Reserve notes. Federal Reserve
banks issue these notes. The Bureau of Printing and Engraving, also part of the Treasury
Department, prints all Federal Reserve notes. They are issued in denominations of $1, $5,
$10, $20, $50, and $100. The Treasury Department has also issued United States notes in
$100 denominations only. These bills have the words United States Note printed across the
top and can be distinguished from Federal Reserve notes by a red Treasury seal. United
States notes make up less than 1 percent of the paper money in circulation. Both Federal
Reserve notes and United States notes are fiat money or legal tender.
Checks. A checking account is money deposited in a bank that a person can withdraw
at any time by writing a check. The bank must pay the amount of the check when it is
presented for payment, that is, on demand. Such accounts used to be called demand
deposits. Today we call these checkable deposits, and a variety of financial institutions
offer them. Commercial banks used to be the only financial institutions that could offer
checkable accounts. Today all thrift institutions - mutual savings banks, savings and loan
associations (S&Ls), and credit unions - offer checkable deposits.
Credit Cards and Debit Cards. Even though many people use their credit cards to
purchase goods and services, the credit card itself is not money. It does not act as a unit of
accounting nor as a store of value. The use of your credit
card is really a loan to you by the issuer of the card, whether it
is a bank, retail store, gas company, or American Express.
Basically, then, credit card “money” represents a future
claim on money that you will have later. Credit cards defer
rather than complete transactions that ultimately
involve the use of money.
The debit card automatically withdraws money from a checkable account. When you
use your debit card to purchase something, you are in effect giving an instruction to your
bank to transfer money directly from your bank account to the store’s bank account. The

32
use of a debit card does not create a loan. Debit card “money” is similar to checkable
account money.
Near Moneys. Numerous other assets are almost, but not exactly, like money. These
assets are called near moneys. Their values are stated in terms of money, and they have
high liquidity in comparison to other investments, such as stocks. Near moneys can be
turned into currency or into a means of payment, such as a check, relatively easily and
without the risk of loss of value.
For example, if you have a bank savings account, you cannot write a check on it. You
can, however, go to the bank and withdraw some or all of your funds. You can then
redeposit it in your checking account or take some or all of it in cash.
Time deposits and savings-account balances are near moneys. Both pay interest, and
neither can be withdrawn by check. Time deposits require that a depositor notify the
financial institution within a certain period of time, often 10 days, before withdrawing
money. Savings accounts do not usually require such notification.
The Money Supply
How much money is there in the United States today? That question is not so easy to
answer. First, the money supply must be defined and agreed upon. Currently, two basic
definitions are used, although others exist. The first is called M1 and the second M2. Both
definitions include all the paper bills and coins in circulation. M1, the narrowest definition
of the money supply, consists of moneys that can be spent immediately and against which
checks can be written. It includes currency, traveler’s checks, and checkable deposits. A
broader definition of the money supply, M2, includes all of M1, plus such near moneys as
money market mutual fund balances and Eurodollars.

Exercise 5. After reading the text in Exercise 4, fill in the missing word or words:

Most of the nation’s currency is in the form of (1)_____________________ and

(2)___________ ___________ _______ or_______ ________ _______. Money is also in
the form of (3)___________ __________ that a person can draw against for purchases.
Today, these accounts are also called (4)_____________ ____________. Since the 1980s,
commercial banks and (5)__________ ____________ offer these accounts along with
many other financial services.
Money can be represented by (6)______________ ________________, which provide
“loans” to users. (7)__________ __________, on the other hand, simply withdraw money
that a person already has in an account. However, most people do not like to lose the
(8)_____________ they enjoy when writing checks. Personal assets such as stocks and
bonds are called near money because they have high (9)___________ for their owners.
(10)_______________ deposits and (11)__________ ___________ are two other
examples of near money.
The money supply is designated as M1 and M2. M1 includes all currency,
(12)____________ __________, and checking accounts. M2 is a broader definition of the
money supply and includes all of Ml plus (13)________ _________ __________
________ and (14)_________________.

Exercise 6. Insert the following words in the appropriate space:

33
bonds commercial monetarist prices tight velocity
Following the (1) ........... argument that the average level of (2) ........... and wages is
determined by the amount of money in circulation, and its (3)........... of circulation, many
central banks now set money supply targets. By increasing or decreasing the money
supply, the central bank indirectly influences interest rates, demand, output, growth,
unemployment and prices. The central bank can reduce the reserves available to
(4) ........... banks by changing the reserve requirements. This reduces the amount of
money that banks can create and makes money (5)........... or scarce. Alternatively, the
central bank can engage in what are called open market operations, which involve selling
shortterm government (6) ………… (such as three-month Treasury bills) to the
commercial banks, or buying them back.
Exercise 7. Now do the same with the paragraph:
credit inflation output unemployment interest rates the exchange
rate aggregate demand
When money is tight,
1. ...........… rise, because commercial banks have to borrow at a higher rate
on the inter-bank market.
2. .............. falls, because people and businesses borrow less at higher rates.
3. .............. falls, because people and businesses buy less, as they have less
money.
4. .............. falls too, because with less consumption, firms produce less.
5. .............. rises, because companies are producing and selling less, and so
require less labour.
6. ...........… falls, because there is less money in circulation.
7. ...........… will probably rise, if there is the same demand but less money, or if
there is higher demand, as foreigners take advantage of the higher interest rates
to invest in the currency. Increasing the money supply, by making more
reserves, available, has the opposite effects.

Exercise 8. Choose the correct alternative to complete each sentence:

1. Money in notes and coins is called

a. cash b. capital c. reserves
2. The dollar, the mark and the yen are all
a. currencies b. funds c. monies
3. Money borrowed from a bank is a
a. deposit b. income c. loan
4. Borrowed money that has to be paid back constitutes a
a. debt b. fund c. subsidy

34
5. All the money received by a person or a company is known as
a. aid b. income c. wages
6. The money earned for a week’s manual work is called
a. income b. salary c. wages
7. The money paid for a month’s (professional) work is a
a. loan b. salary c. wages
8. Money placed in banks and other savings institutions constitutes
a. capital b. deposits c. finance
9. Money paid by the government or a company to a retired person is a
a. pension b. rebate c. subsidy
10. The money that will ultimately be used to pay pensions is kept in a
a. budget b. deposit c. fund
11. The money needed to start a company is called
a. aid b. capital c. debt
12. The money paid to lawyers, architects, private schools, etc. is called
a. fees b. instalments c. wages
13. Regular part payments of debts are called
a. deposits b. loans c. instalments
14. Part of a payment that is officially given back (for example, from taxes) is called a
a. gift b. instalment c. rebate
15. Estimated expenditure and income is written in a
a. budget b. reserve c. statement
16. A person’s money in a business is known as his or her
a. deposit b. fund c. stake
17. Money given to producers to allow them to sell cheaply is called a
a. loan b. rebate c. subsidy
18. Money given to developing countries by richer ones is known as
a. aid b. debt c. subsidy

Exercise 9. Choose the right answer:

1. When you retire at the age of sixty-five, you receive a(n) …..from the government.
a) allowance b) fine c) grant d) pension
2. If production in that factory exceeds the target, the workers get a ….. .
a) bonus b) donation c) gratuity d)
3. Income tax is ..... to one’s annual income. premium
a) associated b) based c) dependent d) related
4. The ….. of living has risen by 25% in the last six months.

35
 a) cost b) expenditure c) expense d) price
5. The kidnappers demanded a ….. of $ 1,000,000.
a) fine b) penalty c) ransom d) reward
6. The World Bank has criticized the United States for not giving enough financial …..
to the East European countries.
a) aid b) allowance c) loan d) premium
7. You can ….. your basic wage by working longer hours.
a) effect b) help c) implement d) supplement
8. A salesman is paid a ….. on the goods he sells.
a) commission b) percentage c) provision d) salary
9. The President admitted taking ….. and had to resign.
a) bribes b) fees c) fines d) premiums
10. In our country ….. of $250 is paid weekly to a family with more than three children.
a) an allowance b) a fee c) an income d) a wage
11. Mr. Mean cannot bear to ….. even the smallest sum of money for a charity appeal.
a) give in b) let out c) part with d) pay off
12. Mr. Rich earns $8,000 a month …..and $5,000 a month net.
a) bulk b) gross c) mass d) wholesale
13. You can only ….. this postal order at a post office.
a) alter b) cash c) exchange d) pay
14. If they are not more careful with their accounts, they will go ….. .
a) bankrupt b) broken c) penniless d) poor
15. The Finance Minister will be making a ….. today about new rates of income tax.
a) declaration b) notice c) statement d) talk
16. If I had another $25,000 a year, I would consider myself ….. .
a) well deserved b) well done c) well-made d) well off
17. All the workers in our firm get a Christmas ….. of $100.
a) bonus b) fine c) prize d) reward
18. “Can you ….. something for the orphans?”, he asked, rattling a collecting-box.
a) give b) leave c) provide d) spare
19. Before starting a business, you have to raise the necessary ….. .
a) capital b) currency c) investment d) savings
20. The usual reason for exemption from tax does not ….. in this case.
a) apply b) concern c) impose d) regard
21. Mrs. Unemployed is finding it difficult to pay the ….. on her insurance policy.
a) bonuses b) fees c) fines d) premiums
22. Our company made a record ….. last year.
a) benefit b) earn c) profit d) winning
23. While you are away from the office on business trips, you will be given a daily …..
$50 towards meals and accommodation.
a) allowance b) fine c) permit d) reward
24. I hate the beginning of each year when all the ….. start coming in and I have to find
the money to pay them all.
a) accounts b) bills c) estimates d) receipts

36
 Exercise 10. Give the names for the defined money expressions:

1. A fixed amount which is paid, usually monthly, to workers of a s_____

higher rank
2. An amount of money which you lend to someone a l___
3. A sum of money which is owned to someone a d___
4. Money which is in the form of coins and notes, not cheques c___
5. An amount of money you receive, usually weekly, in return for a w___
labour or service
6. Money paid by divorced father to his former wife for the upkeep a_ _ _ _ _ y
of his children
7. Tax on imported articles paid to the customs ___y
8. Paid at a restaurant after eating a ___l
9. Extra percentage paid on a loan i_______
10. Money paid for professional services, e.g. to a doctor a f__
11. Money paid by the state, usually to students a g____
12. Money paid by a company or the state on your retirement a p______
13. Paid as a punishment for breaking the law a f___
14. Paid to the government for services that the state provides ____s
15. Paid while traveling, especially on public transport, buses, train, a f___
etc.

Exercise 11. Put each of the following words or phrases into its correct place in the text
below:

banks beads buy coins change currency depositing earn exchange rate
goods investments money paper bills savings accounts sell shells value

Money is what people use to (1).….. things. People spend money on (2)….. and
services. Many people save part of their money by (3)….. it in a bank. People (4)…..
money by performing services. They also earn money from (5)….., including government
bonds, and from (6)….. .
(7)….. can be anything that people agree to accept in exchange for the things they (8)
….. or the work they do. Ancient peoples used such varied things as (9)……, (10)……
and cattle as money. Today, most nations use metal coins and (11)….. . Different
countries’ (12)….. and bills look different and have different names.
A person can (13).….. his money for the money of any other country according to the
(14)….. . Usually, such rates are set by the central (15)….. of a country. The (16).….. of

37
 a country’s (17).….. may change, depending on the economic and political conditions in
that country.

Exercise 12. Match the definitions with the correct money word:

1. an allowance a. money paid to authors or investors according to the sales of

their work
2. a bonus b. a sum of money used to make more money from something that
will increase in value
3. commission c. the money which a building society or bank lends to someone
to buy a house
4. a deposit d. the money that a person pays to an insurance company to
protect against loss or damage
5. a dividend e. money, usually from a relative, to live on
6. an investment f. an additional payment which is a reward to those who work for a
company for their extra work
7. a legacy g. the amount of money borrowed from a bank, greater than that
which is in your account
8. maintenance h. money received from someone in his or her will
9. an overdraft i. the amount of money that goes to a shareholder
10. a premium j. money paid by divorced or separated people to support the
former husband or wife
11. royalties k. part of the value of a company that you may buy
12. a share l. part-payment of money which you make to stop the seller from
selling his goods to others
13. a mortgage m. an amount of money, related to the value of goods sold, which
is paid to a salesman for his services

Exercise 13. Choose the correct answer:

1. The going ….. for the job is $7 an hour.

a) pay b) price c) rate d) wage
2. When you buy a house you can claim tax ….. on the mortgage.
a) aid b) assistance c) benefit d) relief
3. Inflation is the first problem that the new government will have to …..
a) clasp b) grasp c) seize d) tackle
4. Mr. Teenager’s ….. will be held in trust for him until he is 21. Then he will be free to
spend it.
a) dowry b) heirloom c) heritage d) inheritance
5. When the company was declared bankrupt, all its fixed ….. were claimed by its
creditors.
a) assets b) benefits c) funds d) sums

38
6. Our country has never had a large ….. in its balance of payment.
a) abundance b) addition c) overflow d) surplus
7. Miss Cheating is in trouble because she has not paid her National Insurance ….. for ten
years.
a) contributions b) subscriptions c) subsidies d) tributes 8. People in financial
difficulties sometimes fall ….. to unscrupulous money lenders.
a) fool b) prey c) sacrifice d) scapegoat
9. Because Mr. Sacked has just lost his job, his aunt’s legacy came as a useful ….. .
a) advantage b) benefit c) profit d) windfall
10. The government has introduced ….. currency controls which will make it more
difficult to holiday abroad.
a) extreme b) striking c) stringent d) strong
11. If you don’t complete your income tax ….. , you may have to pay more than is
necessary.
a) account b) document c) report d) return
12. As a result of increased productivity, the workers received a ….. pay increase.
a) fundamental b) palpable c) substantial d)
13. $150? $250? Let’s ….. the difference and say $200. tangible
a) agree b) avoid c) decrease d) split
14. Newly ….. coins always look clean and shining .
a) minted b) moulded c) pressed d)
printed
15. For some jobless people, joining the ….. queue is a humiliating experience.
a) benefit b) dole c) grant d) ration
16. If a man is legally separated from his wife, is he still …… for her debts?
a) answerable b) bound c) chargeable d) liable
17. The two men ….. a coin to see who should take care of the business on the weekend.
a) hurled b) lobbed c) threw d) tossed
18. No-one knows precisely how much she earns a month, but $4,000 can’t be very ….. of
the mark.
a) broad b) distant c) far d) wide
19. The ….. between the rich and the poor is very evident in the Western World.
a) deviation b) differentiation c) difference d) distance 20. The salary is $35,000 per
annum, with annual ….. of $2,000 for five years.
a) annexes b) bonuses c) increments d) prizes
21. The government’s policy is to ….. firms in trouble to prevent unemployment.
a) contribute b) endow c) grant d) subsidize
22. Being a teacher, I shop at stores which offer a ….. to teachers.
a) deduction b) discount c) rebate d) subsidy
23. Share prices on the Stock Exchange plunged sharply in the morning but ….. slightly in
the afternoon.
a) recovered b) regained c) restored d) retrieved
24. The firm will go bankrupt if it cannot meet its ….. .
a) charges b) duties c) liabilities d) promises

39
25. Mr. Businessman needed $10,000, but as his capital was ….. up in shares, he borrowed
it from his bank.
a) bound b) knotted c) locked d) tied

Exercise 14. Complete the following sentences. Each ( - ) represents one letter:

1. I spend about $1,5 a week on bus _ _ _ es.

2. I had to pay _ _ _ _ on the Turkish carpet I brought in through the Customs
yesterday.
3. Now that Mr. Old had retired, he lives partly on his _ _ _ s _ _ _ and partly on the
_ _ t_ _ _ _ _ from his post office savings account.
4. In spite of its size his family was quite _ _ _ _ off, because he brought in a good _
_ l _ _ _.
5. Gold would be a good _ _ v _ _ _ _ _ _ t; it’s bound to increase in value.
6. Due to inflation the _ _ _ _ _ _ _ _ of living went down by fifteen ___-c__
_.
7. I couldn’t buy the house because the bank refused to let me have a m_____
g _.
8. If you borrowed money from him, you are under an _ _ l _ _ _ _ _ _ _ to give it
back.
9. You must stop wasting your money on silly things and start _ _ v _ _ _. This is the
only solution to your _ _ n _ _ _ _ _ _ troubles.
10. One dollar is _ _ u _ _ to over 20.000 zl.
11. The main advantage of a _ _ _ _ u _ book or _ _ _ d _ _ card is that you don’t have
to carry cash around with you.
12. I carry loose change in my pocket and _ _ _ _ s in my leather _ _ l _ _ _.

Exercise 15. Use a dictionary to find the difference in the following groups:
1. make a profit & make a loss
2. extravagant & frugal/economical
3. a current account & a deposit account
4. a loan & a mortgage
5. to deposit money & to withdraw money
6. a wage & a salary
7. broke & bankrupt
8. shares, stocks, and dividends
9. income tax & excise duty
10. to credit & to debit
11. a bank and a building society
12. a discount & a refund
13. something which was a bargain, something which was overpriced and something
which was exorbitant
14. worthless & priceless
15. save money and invest money

40
 16. inflation and deflation
17. income and expenditure
18. to lend and to borrow
Match the sentences in column A with the sentences in column B. Use the words in bold to
help you:

Column A Column B
19. The managing director believes the A. I’m really looking forward to spending
company should start producing pocket my pension.
computers. B. The cost of living seems to go up every
20. I always put my money in a building day.
society and not in a bank. C. Of course, its always so difficult to
21. I can’t afford to buy a new car right economize.
now. I don’t have enough money. D. Shops all over the country are making
22. I find Christmas a very expensive time. huge reductions on just about
23. I came into a lot of money recently everything.
when my uncle died. E. I always seem to run up a huge
24. Look at this cheque that came in the overdraft at the bank.
post this morning from the Inland F. Of course, the potential global market
Revenue. for them is enormous.
25. I’ve been spending too much recently. G. Fortunately I receive unemployment
26. In my country, there are a lot of very benefit.
poor people and only a few rich ones. H. There is a very uneven distribution of
27. I lost my job last month. wealth.
28. I retire next month. I. The interest they pay me is much
29. Prices are rising quickly everywhere. higher.
J. It’s the first time I’ve inherited
30. The January sales start tomorrow.
something.
K. It seems to be some kind of tax rebate.
L. Maybe I should consider getting one on
credit.

Exercise 16. Now read this passage and complete the gaps with one of the words or
expressions from Exercise 15. You may need to change the form of some of the words:

‘Financial advice from a father to a son’

In the play ‘Hamlet’ by William Shakespeare, a father gives his son some financial advice.
‘Neither a borrower nor a lender be’, he says. He is trying to tell his son that he should
never 1)___________ money from anyone because it will make it difficult for him to
manage his finances. Likewise he should never give a financial 2)___________ to a
friend because he will probably never see the money again, and will probably lose his
friend as well.
The play was written over four hundred years ago, but today many parents would give
similar advice to their children. Imagine the conversation they would have now:

41
Son: Right dad, I’m off to university now.
Father: All right son, but let me give you some sound financial advice before you go.
Son: Oh come on dad.....
Father: Now listen, this is important. The first thing you should do is to make sure you
balance your 3)___________ - the money you receive from me - and your
4)_____________ - the money you spend. If you spend too much, you will end up with an
5)______________ at the bank. Don’t expect me to pay it for you.
Son: But it’s so difficult. Things are so expensive, and the 6)___________ goes up all the
time. 7)______________ is running at about 10%.
Father: I know, but you should try to 8)___________. Avoid expensive shops and
restaurants. Also, put your money in a good 9)___________. They offer a much higher
rate of 10)_____________ than banks. Also, avoid buying things 11)______________.
Son: Why?
Father: Because shops charge you an 12)__________ amount of money to buy things over
a period of time. Its much better to 13)___________ a little bit of money each week so
that when you see something you want, you can buy it outright. Try to wait for the sales,
when shops offer huge 14)___________ and you can pick up a 15)_____________.
And try to get a 16)_______________.
Son: How do I do that?
Father: Easy. When you buy something, ask the shop if they’ll lower the price by, say,
10%. Next, when you eventually get a job and are earning a good salary, try to
17)______________ the money in a good company. Buy 18)_____________ in
government organizations or 19)_____________ in private companies.
Son: OK dad, I’ve heard enough.
Father: One final piece of advice, son.
Son: What’s that dad?
Father: To thine own self be true.
Son: You what?

Exercise 17. Read the following text and answer the questions below:

CREDIT OUT OF CONTROL

Regulation is taboo to the business community, but do we need more control over
credit?
They say money makes the world go round. But it isn’t money: it’s credit. For when
the corporations of the world buy, they buy on credit. And if your credit’s good, no one
asks to see the colour of your money. Indeed, if everyone were to demand immediate
payment in cash, the world would literally go bust. But as Trevor Sykes points out in his
book, ‘Two Centuries of Panic’, “there are few faster ways of going broke than by buying
goods and then passing them on to customers who cannot pay for them”. As if getting
orders wasn’t tough enough, these days getting paid is even tougher. And with the amount
of cross-border trade increasing every year, credit is rapidly going out of control.

42
 Companies on brink of collapse
In Germany, Denmark and Sweden, whose governments strictly regulate business-
tobusiness relations, companies pay on time. They have to. Late payers may actually be
billed by their creditors for the services of a professional debt collector. But in Britain
companies regularly keep you waiting a month past the agreed deadline for your bill to be
paid. That’s why a Swedish leasing agreement can be drafted on a single page, but a
British one is more like a telephone directory. The French and Italians too will sit on
invoices almost indefinitely and push creditor companies to the brink of bankruptcy.
Money management the key
But bad debt does not necessarily mean bad business.
Ninety years ago the legendary Tokushichi Nomura was racing
round the streets of Osaka in a rickshaw to escape angry creditors.
They are not angry now, for today Nomura is the biggest securities
company in Japan. Nomura knew what all good financial directors
know: that what distinguishes the effectively managed commercial
operation from the poorly managed one is the way it manages its
money. And increasingly a key feature of successful money management is the skill with
which a company can stall its creditors and at the same time put pressure on its debtors.
Minimizing the risk
So how can the risk of bad debt be minimized? From the supplier’s point of view,
prepayment would be the ideal solution: make the customer pay up front. But it is a
confident supplier indeed who would risk damaging customer relations by insisting on
money in advance. For the goodwill of your biggest customers - those who by definition
owe you the most money - is vital to securing their business in the future. And the
prospect of a bigger order next time puts you in a difficult position when payment is late
again this time.
Instant access
We might expect modern technological advances to have eased this cashflow situation,
but they haven’t - quite the reverse. In the past it was common for companies to employ
credit controllers who carefully processed letters of credit and bank guarantees. Now you
get a telephone call, the computer runs a simple credit check and you deliver straightaway.
Buyers have almost instant access to goods ... and to credit.
Be prepared for losses
For more and more companies it’s a no-win situation. Charge interest on outstanding
debts, and you risk alienating customers with genuine cashflow problems. But cut your
losses by selling those debts on to a factoring agency, and it’ll be you, not your debtor,
who ends up paying the factor’s commission. In order to recover what you’re owed you’ll
effectively have to write some of it off. Such is the delicate balance of power between
debtor and creditor. For though debtors do, of course, show up in a company’s current
assets, it is hard cash, not promises to pay, that finances new projects. People forget their
promises and creditors have better memories than debtors.

Which of the following topics does the article discuss?

1. European attitudes to credit.
2. The credit-worthiness of Japanese.

43
 3. Risk limitation.
4. National debt.
5. Information technology.

Look back at the article and find the expressions which mean:
1. to see evidence that you have the necessary capital.
2. you can’t get what you want, no matter what you do.
3. to accept a modest loss in order to prevent a huge one.

Exercise 18. Choose the most suitable word for each space:
Someone once described the age we live in as that of a vanishing world, one in which the
familiar is constantly disappearing for ever and technological change is often difficult to
(1)............... with. So it should come as no surprise to most of us to hear that yet another
part of everyday life is (2)............... to go for ever.
Still, when I read recently that within the next decade money as we (3)............... it will
probably cease to exist in technologically advanced countries, I had to read the article
twice to make sure it wasn’t April 1st. (4)............... to Professor Gerry Montague of the
Institute for Economic Reform, the familiar (5)............... and banknotes will soon be
replaced entirely by credit cards of various kinds. And the shop of the future (the ‘retail
outlet’ as Prof. Montague puts it) will be
(6) ............... directly to the network of banking
computers. The assistant will simply key in your
bank account code number and the
(7)............... you have spent, and thank you
politely. You won’t have to dig deep in your
(8)............... for change or pretend at the pub that
you have left your money at home. You
may not even have a number for your
(9)............... as such, as the computer may by then be able to read your handprint. So no
more credit card frauds (10)................ . But I am afraid that I shall (11) ............... money.
I have felt strongly attached to it, ever since I received my first pocket money when I was
five, and kept it in a money-box. Even if my credit card of the future will be able to tell
me exactly how much (12)............... power I have left in the computer files, even if it
lights up and plays a happy (or sad) tune at the same time, nothing will be able to replace
the sheer pleasure I gained from (13)............... the coins in my moneybox. Not to
(14)............... the other obvious problems which will be caused by (15)………… of real
money – like how to start a football match, for example!

1. a) keep b) manage c) cope d) survive

2. a) about b) almost c) ready d) tending
3. a) earn b) know c) use d) need
4. a) Thanks b) Contrary c) According d)
Accustomed
5. a) banks b) coins c) change d) pence

44
6. a) taken b) alone c) responsible d) linked
7. a) money b) charge c) cost d) amount
8. a) pockets b) wallet c) cheque book d) cash
9. a) wealth b) savings c) account d) payment
10. a) arrested b) either c) stolen d) however
11. a) miss b) spend c) waste d) borrow
12. a) more b) financial c) economical d) spending
13. a) rattling b) withdrawing c) estimating d) throwing
14. a) tell b) confront c) guess d) mention
15. a) a shortage b) an expense c) an absence d) a
replacement

Exercise 19. In each sentence choose one or more appropriate words:

a. Harry gains/gets/makes over £20 000 a year.

b. Mary was awarded a grant/scholarship/subsidy to study child psychology.
c. How much did you give/pay/take for your new car?
d. Their house fetched/produced/sold for a lot more than they expected.
e. I’m going to the bank to get out/remove/withdraw the money for the rent.
f. The manager disappeared with the receipts/takings/wages from the concert.
g. By the time Kate retired she was a fortunate/prosperous/wealthy businesswoman.
h. We had a good holiday but it was rather costly/expensive/valuable.
i. We would appreciate it if you would close/settle/pay your bill as soon as
possible.
j. Unfortunately the old painting I found turned out to be priceless/valueless/
worthless.

Exercise 20. Choose the most suitable word or phrase underlined in each sentence:

a. I haven’t got enough money, I’m afraid. Could you borrow/lend me some?
b. It’s a good school, but the fares/fees are rather high.
c. This car is too expensive. We can’t afford/pay it.
d. It was a very good meal. Can we have the account/bill please?
e. There’s a small flat to hire/let in Bridge Street.
f. How much do you earn/gain in your new job?
g. She’s a good dentist, but she doesn’t charge/spend too much.
h. I bought this coat in the sales. It was decreased/reduced a lot.
i. Jack made his fortune/treasure buying and selling property.
j. How much do you reckon/value that house would cost?

Exercise 21. Replace each word or phrase underlined with a word or phrase from the
list which has the opposite meaning:

45
 cash generous profit save well off purchase worthless
expensive poverty take out
a. I was surprised by how mean Charles was.
b. Janet says that she is very hard up at the moment.
c. Last year their business made a huge loss.
d. I’d like to pay in £100 please.
e. That part of Spain always seems very cheap to me.
f. Most people in the city live in great prosperity.
g. The manager insisted that I paid by cheque.
h. Some people manage to spend most of their money.
i. Jean was able to make only one sale, during the morning.
j. The old painting I found in the loft turned out to be valuable.
Exercise 22. Choose the most suitable response to each sentence a-j from the sentences
1-10. Use each response once only:
a. Who do I make the cheque out to? 1. Sorry, but it’s not for sale.
b. We seem to be spending a lot of 2. I’m saving up to buy a new
money lately. motorbike.
c. The house has burnt down! What are 3. Perhaps we should try to economize a
we going to do? bit.
d. How much do you want for this 4. Yes, my Aunt Clara left it to me.
drawing? 5. Well, we’ve nearly paid it all back.
e. Did you inherit this house? 6. To JB Woolbury PLC.
f. Your dog must have cost a lot of 7. Actually I got it for nothing.
money. 8. I think they accept travellers cheques
g. Do we still owe the bank any money? anyway.
h. How much do you make a year? 9. I’ve got quite a good salary actually.
i. Can we change money at the hotel to 10. Don’t worry, we’re insured.
pay the bill?
j. Why are you putting so much money
in the bank?

Exercise 23. Use the word in capitals at the end of each line to form a word that fits in the
space in the same line:

46
Money! Money! Money!
Helen had always dreamed of becoming a (1) ........... WEALTH
woman, and imagined living in a (2).......... mansion, LUXURY
and how her friends would praise her (3) ........... GENEROUS
when she gave them expensive presents. In reality she was usually
hard up. She had some (4)........... and a small life (5) ........., but her SAVE
antique shop was not really very INSURE
(6).......... . Every time she took money out of the bank, the (7).......... PROFIT
checked her account, and told her how little there was in it! Helen had CASH
taken out a (8)........... a month before. How could she repay it? Then LEND
one day she noticed an old painting in her shop. She had thought it
was (9)......... but as she brushed away the dust, she saw the (10) ......... WORTH
at the bottom. It said ‘Renoir’! She was rich at last! SIGN

Exercise 24. Match each person from the list with a suitable description. Use each name
once only:
accountant cashier heir manager pensioner agent
customer investor miser swindler
a. Someone who likes to keep money and not spend it.
b. Someone who inherits money or property.
c. Someone who runs a bank.
d. Someone who has retired.
e. Someone who keeps or checks financial records.
f. Someone who buys things in a shop.
g. Someone who pays out money in a bank.
h. Someone who represents others in business.
i. Someone who puts money into a business.
j. Someone who cheats people out of money.

47
 UNIT 6: TELEPHONING

Exercise 1. Make up sentences from the following words and phrases:

back call you Can you for a moment?

get hang This is a terrible hang
line. I’m afraid
I’m afraid I don’t I’ll I’ll I’ve been calling all
have their morning and I can’t
number, but if you
wait I’ll
look on I’ll have to put you
it through through to them.
to him right now. up up when I’ve got more
information.

Exercise 2. Fill the gaps with suitable words from the list:

busy (US)/engaged (GB) collect call (US)/transferred charge call (GB)

dialing(US)/dialing(GB) person-to-person call(US)/personal call (GB)
off the hook ringing area code

1. To make a call: first listen for the .............................. tone and dial the number.
With any luck, you’ll hear a tone telling you that the number is ................... . If
the other phone is being used you’ll hear the ................ tone.

48
 2. To make an international call: first dial the international code, then the country
code, then the ……………….. and finally the number you require.
3. If you want the other person to pay for the call you can make a ……….....
4. If you want to talk to a particular person you can make a ...................
5. If you don’t want to be interrupted, you can leave the phone .............

Exercise 3. Read this newspaper article and do the exercise below:

THE MOBILE PHONE MARKET IS BOOMING

There are now over one million telephone
subscribers in the UK - the most in Europe. But
Scandinavians are the most enthusiastic mobile phone
users. Almost one in a hundred Swedes has a
mobile phone compared to one in five hundred for the
UK. Elsewhere in Europe the use of the mobile phone
has been limited.
The growth in the UK is partly due to its deregulated
telecommunications market and the competition this
introduced: at the moment, the cost of owning a portable
phone in the UK is the cheapest in Europe. Using a portable phone in Sweden is more
than twice as expensive as in the UK and in France and Germany it costs almost five times
as much.
The introduction of mobile phones is slowly increasing around Europe. The German
government has authorized a third cellular network to cope with new demand. In Italy a
consortium is competing to provide the country’s second system. It has been calculated
there will be 30 million portable phones in use in Europe by the year 2000. In Eastern
Europe the figure will be around 1.5 million.

Correct the false statements. Which of these statements are true according to the report?
1. The U.K. has the highest percentage of mobile phone users in Europe.
2. Mobile phones are more popular in Scandinavia than in EC countries.
3. Using a mobile phone in France is five times as expensive as in Sweden.
4. By the end of this century, there will be more than one million portable phones in
Eastern Europe.

Now check that you know what these words mean by choosing the correct answer.
5. A telephone subscriber is
a. a person who has a telephone
b. a person who has shares in the telephone company
c. a person who works in telecommunications
6. To cope with a demand is to
a. meet and satisfy it
b. to stimulate and encourage it
c. to provide competition for it
7. When a market is deregulated

49
 a. a standard system has been imposed
b. prices have been kept as low as possible
c. government control has been reduced
8. A consortium is
a. a group of companies in competition for a contract
b. a state authority
c. a group of companies working together

Exercise 4. Read the following article which gives you advice on making telephone calls.
Discuss it in groups:

You are probably used to making informal calls to family and friends. When making
calls to companies, however, some special rules and conventions apply. This article
explains how to call someone in a company that you do not know personally (the most
common kind of formal call made by students) and give you some models and language
that you can use.

General rules
When making a formal call, three rules should influence your choice of words:

• Be brief. Do not waste the receiver’s time.

• Be clear. Explain the background and purpose of your call.  Be polite.
Recognize the receiver’s point of view.

These rules can sometimes conflict. If you are too brief, you may confuse the receiver
or appear impolite. Try to balance the three rules.

Making a call to someone you do not know

The most difficult calls to make are calls to people that you do not know. Usually, the
purpose of your call will be to make a request for information or a meeting. This kind of
call can be divided into sections according to the function each serves:

• Locate the person

• Make request
• Make arrangement
• Close the call

In the following examples, we will imagine that you are calling Mr. Lau to arrange a
visit to his office.

Locate the person

If the person you want to speak answers the call, this part is simple. If the receiver
gives her name when he answers your call, you can skip to the next stage. If the receiver
does not give his name, you can confirm that you have the right person:

50
 Hello, is that Mr. Lau?

More often the number that you have will connect you to an operator or secretary. In
this case you will have to ask to speak to Mr. Lau:

Hello, I’d like to speak to Mr. Lau Kam-Cheong, please.

If Mr. Lau is not available, you will need to find out when you can speak to him:

Could you tell me when he will be available?

If the person you are calling has a busy schedule, you may have to call several times.
When you are finally connected, it is best to pretend that this is your first call. Do not
mention how difficult it was to make contact!

Sometimes, you will not know the name of the person who might be able to help you.
In this case, you can state your request and then say:

Could you put me through to someone who might be able to help me?

Locating someone at a company can be frustrating if you are passed

from person to person. Try not to let your frustration show!
Make request

Making a request involves three stages: introducing yourself, giving

background, and making the request itself.

Introduce yourself by giving your name and explaining who you are:

I’m ...., I’m a first-year student at Hong Kong University....

If you have been given the receiver's name by someone else, you should also mention
this:

Mr. Chan from Eurasia Products suggested that I call you....

Give the background to your request by explaining why you are making it:

I’m doing a project on work experience and I need to arrange a visit to a company in
your field....

Make your request politely and clearly. Make sure that the receiver knows exactly what
agreeing to your request will involve: how much of her time will it involve and what will
she or her staff will have to do:

I wonder if I could pay a visit to your office for an hour or so sometime in the next two
weeks, to talk to one of your staff about....

51
 Make arrangement
If the person you are calling agrees to your request, it is important to make a clear
arrangement. If you are arranging a meeting, for example, arrange the time and place and
make sure you know where to go and what to do when you get there. Make a note of all
the information so that you do not need to call back again to find out something you have
missed.

If the person you are calling cannot agree to your request, he may modify it. Listen
carefully and try to fit in with his schedule.

If the person you are calling cannot agree to your request at all, ask if he knows
someone else who can help:

Do you know anyone else who might be able to help me?

Whether the receiver can help you or not, thank her and close the call politely.

Close the call

As the caller, it is your job to close the call when you have got the information you
need. Unless the receiver shows that he wants to talk, it is not polite to chat once your
business is finished. If there is a difficult silence at the end of the call, it is probably
because you are not doing your job of closing the call. You can do this by confirming the
arrangement:

So, I’ll come to your office on Monday at 10....

thanking the receiver,

Thank you very much for your help....

and saying goodbye

Goodbye....

In each case, wait for the receiver’s response before you go on to the next stage. Wait
until you have heard the receiver say goodbye before you hang up.

Exercise 5. Fill in the gaps with the following words:

automatic call dial dialing tone directory engaged exchange operator

receiver subscriber’s number trunk code Yellow Pages

You need to make a telephone 1)________ . Then make sure you have your
correspondent’s number close at hand. Telephone numbers consist of a 2) ____________

52
and a 3) _____________. If you don’t know your contact’s number, look it up in the
telephone 4) _________ of the 5) ____________. The latter contains the telephone
numbers of businesses and traders in your area. The next thing you do is lift the 6)
_____________ and 7) _________ or press the number. You will then hear a 8)
______________. If the number is 9) _____________ you will hear an engaged tone. Bad
luck, you will have to ring back later.
In a company, the first person who answers the phone will often be the 10) ____________.
He - but still more often: she - will put you through to the person you
require. The operator operates the telephone 11) ___________.
In an increasing number of businesses however manual exchanges are replaced by direct
lines or 12) _____________ exchanges.

Exercise 6. Read this dialogue and choose the best answer:

Receptionist: Thank you for phoning Maple Dental Clinic. Sylvia

1) speaks/speaking/calls. How can I help you?
Thelma: Hi Sylvia. 2) This be/It’s/I am Thelma Woods calling. How are you today?
Receptionist: I’m fine, Mrs. Woods. How are you?
Thelma: Well, actually, I have a bit of a sore tooth. I was hoping Dr. Morris would have
some time to see me this week.
Receptionist: I’m 3) afraid/scared/worried he’s booked this week. I can put you in for 2
pm next Tuesday. How does that sound?
Thelma: That would be great.
Receptionist: I’ll have to give you the address of our new office.
Thelma: Oh, that’s right, you moved.
Receptionist: Yes, we moved downtown. Do you have a 4) pen handy/the handy pen/the
available pen?
Thelma: Could you hold on a 5) buzz/moment/time please. ...Okay, go ahead Sylvia.
Receptionist: Okay, we are at 723 Baltic Avenue. Suite 004.
Thelma: 6) If you could/Please can you/Would you mind spelling that for me?
Receptionist: Sure. That’s seven-twenty-three Baltic – B 7) for Bear/as if Brave/as in
Bravo, A as in Alpha, L as in Lima, T as in tango, I as in India, and C.
Thelma: OK, great. I’ll see you on Tuesday then.
Receptionist: OK, 8) Great for/Pleased to/Thanks for calling. See you then. Thelma:
Thanks. Bye.

Exercise 7. Read this dialogue and choose the best answer:

Leslie: 1) Hello?/Hi?/Yes?
Cameron: Hi, is this Leslie?
Leslie: Yes. 2) Who are you/And you/Who’s this?
Cameron: It’s Cameron here. Is Maria 3) inside/in/where?
Leslie: No, she just 4) came/stepped/gone out for a moment. Can I take a message?
Cameron: Yes, thanks. 5) Could you/Would you mind/Can you be ask her to meet me at
the Capitol 4 movie theatre at 7 pm tonight?

53
Leslie: Sure. Just let me write that down. Oh, Cameron. Could you 6) hold
off/holding/hold for a second? I have to take another call.
Cameron: No problem.
Leslie: Hi. Sorry about that. Now could you please 7) say again/repeat/review that
information? I didn’t have a pen handy.
Cameron: Sure. It’s the Capitol 4 theatre at 7 o’clock.
Leslie: Okay, I’ve got it. Is there anything else?
Cameron: No, that’s great.
Leslie: Okay. Uh-oh, there’s my other line again. I’d better 8) call/run/hang on.
Cameron: Okay, thanks again. Bye for now.
Leslie: 9) Bye bye/Bye too/See you again.

Exercise 8. Read this dialogue and choose the best answer:

Hostess: Pepi’s Pizza. How can I 1) call/answer/help you?

Customer: Hi. I’d like to order a pizza please.
Hostess: Okay. I’ll have to transfer your call to our take-out department. 2) One/This/A
moment please.
Recorded Message: Thank you for calling Pepi’s Pizza. All of our operators are busy
working 3) today/and away/at the moment. Please hold for the next available person.
Take-out Clerk: Thank you for waiting. Naoko is 4) hear/speaking/talks. Is this for
takeout or delivery?
Customer: Delivery please.
Take-out Clerk: Can I have your name and address please?
Customer: My name is...
Take-out Clerk: Sorry, it’s really busy in here. Could you 5) speak out/speaking/speak up
a little please?
Customer: Oh, sure. This is Angie Smith. My address is number two Front Street.
Take-out Clerk: Is that an apartment or a house?
Customer: It’s an apartment. Number seventeen.
Take-out Clerk: Okay. And what would you like to order today?
Customer: I’d like a large pepperoni pizza with mushrooms, olives and extra cheese.
Take-out Clerk: I’m sorry, my English isn’t 6) better/very strong/easy. Could you slow
down a little please?
Customer: No problem. That’s a large pizza.
Take-out Clerk: Large pizza. Okay.
Customer: And I’d like it with pepperoni and mushrooms.
Take-out Clerk: Pepperoni and mushrooms. Is there anything else?
Customer: Yes, olives and extra cheese please.
Take-out Clerk: Okay. I’ve 7) got your message/got information/got it all down.
Customer: Great. And how long will that be?
Take-out Clerk: It will be about thirty minutes, Miss Smith.
Customer: And how much will it cost?

54
Take-out Clerk: Um…could you please 8) hold off/holding/hold on while I check with
the kitchen?
Customer: Don’t worry about it. I have to go. I have another call 9) came/to come/coming
through. Thank you. Bye for now.
Take-out Clerk: Okay. Thanks for calling. Bye.

Exercise 9. Put your chairs back to back and practice speaking on the phone. Work in
groups of two. You will be taking in turns to role-play a phone call. Read the following
instructions:

Student A. You are Mr/Ms. Peterson, in charge of shipping customers’ orders and
answering queries about delayed shipments.
These orders have been held up for the reasons given:
• ARG 4581 – delay due to rejection by Quality Control. Revised shipment date:
30th of this month.
• RAJ 4581 – delay due to staff sickness in Production Dept. Revised shipment date
some time next week. Air freight at no extra charge.

Student B. You are Mr/Ms. LaRue, a customer. You are the caller.
• Call Mr/Ms. Peterson to find out whether the goods you have ordered have been
dispatched yet.
• The order number was RAJ 4581. The date you
placed the order was January 16. If they haven’t
been sent, try to get him/her to hurry them up.
• Ask exactly when you can expect the goods to
arrive. If necessary, he/she can call you back
with this information (023 1550 extension 018).

55
 UNIT 7: GIVING A SUCCESSFUL PRESENTATION

Exercise 1. A speaker is going to address delegates at an international conference. All the

special equipment and audio-visual aids have been prepared. Identify the ten items in the
list:
e.g. 10 = Lectern

56
lectern overhead projector podium/platform whiteboard/screen
marker pens pointer slides microphone flipcharts slide projector

There are three other items on the table - small and yet important: a glass, a
11)__________ of water and an 12)__________.

Exercise 2. Read the following text about making a successful presentation:

Most presentations are divided into 3 main parts (+ questions):

1 INTRODUCTION
Questions
2 BODY

57
3 CONCLUSION

Questions
As a general rule in communication, repetition is valuable. In presentations, there is a
golden rule about repetition:

1. Say what you are going to say,

2. say it,
3. then say what you have just said.

In other words, use the three parts of your presentation to reinforce your message. In the
introduction, you tell your audience what your message is going to be. In the body, you
tell your audience your real message. In the conclusion,
you summarize what your message was.

Introduction

The introduction is a very important - perhaps the

most important - part of your presentation. This is
the first impression that your audience has of you.
You should concentrate on getting your introduction
right. You should use the introduction to:

1. welcome your audience

2. introduce your subject
3. outline the structure of your presentation
4. give instructions about questions

The following table shows examples of language for each of these functions. You may
need to modify the language as appropriate.

Function Possible language

1. Welcoming • Good morning, ladies and gentlemen

your audience • Good morning, gentlemen
• Good afternoon, ladies and gentleman
 Good afternoon, everybody

2. Introducing  I am going to talk today about...

your subject  The purpose of my presentation is to introduce our new range
of...

3. Outlining  To start with I’ll describe the progress made this year. Then
your structure I’ll mention some of the problems we’ve encountered and

58
 how we overcame them. After that I’ll consider the
possibilities for further growth next year. Finally, I’ll
summarize my presentation (before concluding with some
recommendations).
4.  Do feel free to interrupt me if you have any questions.
Giving  I’ll try to answer all of your questions after the presentation.
instructions  I plan to keep some time for questions after the presentation.
about questions
Body

The body is the ‘real’ presentation. If the introduction was well prepared and delivered,
you will now be ‘in control’. You will be relaxed and confident.

The body should be well structured, divided up logically, with plenty of carefully spaced
visuals.

Remember these key points while delivering the body of your presentation:

• do not hurry
• be enthusiastic
• give time on visuals
• maintain eye contact
• modulate your voice
• look friendly
• keep to your structure
• use your notes
• signpost throughout
• remain polite when dealing with difficult questions

Conclusion

Use the conclusion to:

1. Sum up
2. (Give recommendations if appropriate)
3. Thank your audience
4. Invite questions

The following table shows examples of language for each of these functions. You may
need to modify the language as appropriate.

59
Function Possible language

1. Summing up • To conclude,...
• In conclusion,...
• Now, to sum up...
• So let me summarize/recap what I’ve said.
• Finally, may I remind you of some of the main points
we’ve considered.

2. Giving • In conclusion, my recommendations are...

recommendations • I therefore suggest/propose/recommend the following
strategy.

3. Thanking your • Many thanks for your attention.

audience • May I thank you all for being such an attentive
audience.

4. Inviting questions • I would be happy to answer any questions.

• If you have any questions, I would be pleased to answer
them.
• I would welcome any comments/suggestions.
• Now I’ll try to answer any questions you may have.
• Can I answer any questions?
• Do you have any questions?
• Are there any final questions?

Questions
Questions are a good opportunity for you to
interact with your audience. It may be helpful
for you to try to predict what questions will be
asked so that you can prepare your response in
advance. You may wish to accept questions at any
time during your presentation, or to keep a
time for questions after your presentation.
Normally, it’s your decision, and you should
make it clear during the introduction. Be polite with all questioners, even if they ask
difficult questions. They are showing interest in what you have to say and they deserve
attention.

60
Exercise 3. Here are the introductions to two different presentations. Separate the two
presentations and put them in the correct order:

a. At the end I will suggest practical ways in which you as managers can motivate
both yourselves and the people who work for you.
b. Good morning ladies and gentlemen, and welcome to our session on the dynamics
of motivation.
c. Then I will give a short demonstration of our prototype and explain what we have
already achieved.
d. Please feel free to raise questions at any time on technical or financial aspects of
the project and I shall do my best to answer them.
e. To begin with, I shall outline the main goals of the project.
f. I would like to ask you to keep any questions you may have until the end, when I
hope we will also have time to discuss your personal experiences and particular
work situations.
g. Finally, I shall move on to the major commercial applications and potential returns
on investment.
h. I will then turn to what we really mean by motivation, and look at the internal and
external factors that play a part in creating it.
i. Good afternoon ladies and gentlemen. I would like to talk to you this afternoon
about why we feel our interactive video project is worth investing in.
j. I shall start by looking at why motivation is so important and why the ability to
motivate is a vital management skill.

Presentation 1 Presentation 2
_____b_____ _____i_____
___________ ___________
___________ ___________
___________ ___________
___________ ___________

Exercise 4. Read this introduction to a presentation. Choose the correct words or phrases
in italics:

Good afternoon, ladies and gentlemen and welcome (1) in/to/for our seminar on corporate
property management. I would like to
(2) begin/starting/commence by (3) drawing/telling/outlining some of the main (4)
explanations/matters/issues in corporate property management
(5) so that/for/in order you will be able to judge whether your company is devoting
sufficient time to this question.
I will then (6) look/turn/change to some of the legal and financial
(7) queries/aspects/pieces of property management, and will

61
(8) tell/look/explain how your companies may be affected by current and future
legislation. I will (9) illustrate/give examples/discuss of the kinds of problems our
clients have faced and explain what was done to solve them.
I will finish (10) by/with/in giving a brief resume of the consultancy service that we offer,
and I will explain what you (11) need/shall/should do if you would like to look into the
matter further.
As we are rather (12) hurried/pressed/short for time, I would be grateful if you could (13)
rest/stay/save any questions you may wish to (14) rise/raise/arise until the end, when I
will (15) do/make/have my best to answer them.

Do you think it is a good presentation? Give reasons for your answer.

UNIT VOCABULARY

UNIT 1: INTRODUCTION INTO BUSINESS ENGLISH

1. annual business
2. bad business
3. blue-collar worker
4. booming business
5. business
6. business competition
7. business corporation
8. business hours

62
 9. challenge
10. consumer demand
11. customer
12. dirty business
13. finance
14. firing
15. for-profit business
16. freelance
17. human resource management
18. incentive
19. increment
20. job security
21. just-in-time inventory
22. marketing
23. monkey (funny) business
24. non-profit business
25. operating costs
26. perks
27. personal business
28. personalized sales
29. prestige
30. production
31. profit
32. promotion
33. retail
34. revenues
35. self-employed
36. sickness benefit
37. team spirit
38. to be in business
39. to be out of business
40. to build up business
41. to mind one’s own business
42. to obtain a loan
43. to pay bills
44. to raise capital
45. to resign
46. unsociable hours
47. white-collar worker
48. wholesale
49. workaholic

UNIT 2: RECRUITMENT

63
1. applicant
2. application
3. background
4. bonus
5. candidate
6. career
7. challenge
8. commodity
9. competitive
10. computer-literate
11. consumer demand
12. covering letter
13. customer
14. CV (curriculum vitae)/resume
15. demeanor
16. employment agency/recruitment agency
17. essential/crucial/vital/important
18. eye contact
19. final decision
20. for-profit business
21. fringe benefits
22. from scratch
23. group discussion
24. human resources/staff/personnel
25. income
26. intelligence
27. job slots
28. laborer
29. labour rate
30. labour turnover
31. letter of application
32. marital status
33. non-profit business
34. operating costs
35. promotion
36. recession
37. recruitment/hiring/employment
38. redundancy
39. referee
40. reference
41. respect
42. result
43. shortlist
44. team spirit

64
 45. to accept a job
46. to apply for a job
47. to appoint
48. to be (go) on the dole
49. to be appropriate
50. to be in business
51. to be on offer
52. to be out of business
53. to build up business
54. to conduct the interview
55. to cut back
56. to dig for dirt
57. to establish rapport
58. to fill out/in
59. to go up the career ladder
60. to make an advantage of smth
61. to meet qualifications for the job
62. to mind one’s own business
63. to neglect
64. to offer the job
65. to raise capital
66. to recruit/to hire/to employ
67. to reduce unemployment
68. to retain
69. to take advantage of smth
70. to turn down the job
71. trainee
72. unpaid leave
73. wage/salary
74. wholesale
UNIT 3: WRITING CV AND LETTER OF APPLICATION

1. affiliation
2. award
3. background
4. bi-lingual
5. blocked or open punctuation
6. career
7. challenge
8. consistently
9. cover letter
10. CV (curriculum vitae)
11. date of birth
12. education

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 13. experience
14. fluent
15. graphology
16. interest
17. job objective
18. letter of application
19. miscellaneous
20. nationality
21. native language
22. qualifications
23. reference
24. skill
25. sludge pile
26. tenured position
27. to enclose
28. to toss
29. training
30. work history

UNIT 4: JOB INTERVIEWS

1. appearance
2. arms folded across your chest
3. attributes
4. body language
5. bottom line
6. casual
7. casual Fridays
8. cheap commodity
9. confidence
10. eye contact
11. family status
12. follower
13. follow-up letter
14. gesture
15. impression
16. inappropriate questions
17. intelligent
18. intimidating
19. inviting
20. job offer
21. leader
22. marital status
23. neat

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 24. outcome
25. panel
26. politeness
27. posture
28. reliability
29. self-confident
30. skill
31. spontaneous
32. stylish
33. team player
34. thank you note/follow up letter
35. to afford
36. to be anxious
37. to bring smth up
38. to disrupt
39. to entail
40. to establish rapport
41. to fit in
42. to handle adversity
43. to interact
44. to rehearse
45. to reiterate
46. traits
47. weird questions
UNIT 5: MONEY MATTERS

1. aggregate demand
2. aid
3. alimony
4. allowance
5. bargain
6. barter
7. bid
8. blackmailer
9. bribe
10. buck = dollar
11. building society
12. business venture
13. cash
14. cashier
15. checkable deposit
16. checking account
17. coinage
18. commodity money

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19. consumption
20. convertibility
21. cost of living
22. credit card
23. currency
24. current account
25. debit card
26. deflation
27. demand deposits
28. deposit account
29. depreciation
30. devaluation
31. discount
32. distribution of wealth
33. dividend
34. double coincidence of wants
35. down payment
36. durable
37. duty
38. exchange value
39. excise duty
40. exorbitant
41. expenditure
42. extravagant
43. face value
44. fare
45. fee
46. fiat money/paper money
47. fine
48. fraud
49. free of charge
50. frugal/economical/thrifty
51. gratuity
52. gross-profit
53. hard up
54. heir
55. income
56. income tax
57. increments
58. inflation
59. inheritance
60. installment
61. interest
62. interest rate

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63. intrinsic value
64. invoice
65. legacy
66. legal tender
67. liquidity
68. maintenance
69. managed currency
70. means of payment
71. medium of exchange
72. miser
73. monetary unit
74. money circulation
75. mortgage
76. near money
77. nest-egg
78. net profit
79. on credit
80. overdraft
81. overpriced
82. penalty
83. pocket money
84. premium
85. priceless
86. principal
87. prosperous
88. purchasing power
89. quid = pound
90. ransom
91. rebate
92. reduction
93. refund
94. relief
95. representative money
96. return
97. reward
98. royalty 99. sale
100. savings
101. savings account
102. scarce goods
103. scarce/tight money
104. settlement of debts
105. share
106. standard of value
107. store of value

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 108. subsidy
109. supplement
110. surplus
111. swindler
112. time deposit
113. to be backed by
114. to be broke/bankrupt
115. to be in the black
116. to be in the red
117. to borrow
118. to deposit money
119. to haggle
120. to inherit
121. to invest money
122. to lend
123. to pay off
124. to put money aside
125. to redeem
126. to save money
127. to squander
128. to tackle
129. to toss
130. to withdraw money
131. token coin
132. transaction
133. traveler’s check
134. turnover of money
135. unemployment benefit
136. unit of accounting
137. wear and tear
138. well off 139. will
140. windfall
141. worthless

UNIT 6: TELEPHONING

1. answering machine/ansaphone
2. area code
3. collect call/transferred charge
4. country code
5. dialling tone (US: dial tone)
6. direct line
7. engaged tone (US: busy tone)
8. extension number

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9. have the wrong number
10. home number
11. mobile phone (US also: cell phone)
12. number unobtainable
13. off the hook
14. operator
15. person-to-person call/personal call
16. receiver
17. subscriber
18. switchboard
19. the line’s busy
20. to catch something
21. to connect
22. to dial
23. to dial a wrong number
24. to fix an appointment
25. to get back to somebody on something
26. to put somebody through
27. to return somebody’s call
28. work number
29. Can I take a message?
30. Can she call you back when she gets in?
31. Can we fix an appointment?
32. Could you speak more slowly, please?
33. Could you spell that for me, please?
34. Does Thursday suit you?
35. Good morning, this is Heike Hohner calling from Germany.
36. I look forward to hearing from you soon.
37. I’d like to leave a message for ...
38. I’d like to speak to Mr./Ms. Smith, please.
39. I’ll get back to you on that.
40. I’ll give her the message as soon as possible.
41. I’m afraid he’s away on business.
42. I’m afraid she’s not in the office today.
43. I’m calling about …
44. I’m returning your call.
45. I’m sorry, the line’s busy/engaged.
46. Just a moment, please. I’ll put you through.
47. Let me check my diary.
48. Sorry, I didn’t catch that.
49. Thank you. Bye.
50. Thanks for your help.
51. What was your name again, please?
52. Would you like to call back later?

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 53. You’re welcome. Bye.

UNIT 7: GIVING A SUCCESSFUL PRESENTATION

1. audience rapport
2. body language
3. flip chart
4. handout
5. lectern
6. O.H.T. - abbr. overhead transparency
7. overhead projector - O.H.P. abbr.
8. podium/platform
9. pointer
10. slide
11. to commence
12. to illustrate/to give examples
13. to outline
14. visual aids
15. whiteboard

REFERENCES:

1. Aspinall Tricia, Bethell George. Test your Business Vocabulary in Use.

Cambridge University Press, 2003.
2. Bruce Kay, Parrish Betsy, Wood Allan. Business Review. Longman Group UK
Limited, 1992.
3. Cambridge ESOL. BEC 1, 3. Cambridge University Press, 2001.
4. Deller Sheelagh, Jones Rodri. Vista. Advanced English Learning. Heinemann
Publishers (Oxford) Ltd., 1992.
5. Encarta Encyclopedia Delux. Microsoft Corporation, 2004.
6. http://en.wikipedia.org
7. http://jobsearchtech.about.com
8. http://resume-help.org
9. http://www.bbc.co.uk
10. http://www.jobsinusa.al.ru/
11. Jones Leo, Alexander Richard. New International Business English. Cambridge
University Press, 2003.
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Teaching, 1995.

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13. Lees Gerald, Thorne Tony. English on Business. Practical English for International
Executives. Chancerel International Publishers, 1993.
14. MacKenzie Ian. English for Business Studies. Cambridge University Press. 1997.
15. MacKenzie Ian. Financial English with Mini-dictionary of Finance. Language
Teaching Publication Series, 1995.
16. MacKenzie Ian. Management and Marketing. Language Teaching Publications,
1997.
17. Mascull Bill. Business Vocabulary in Use, Advanced. Cambridge University
Press, 2004.
18. Mascull Bill. Business Vocabulary in Use. Cambridge University Press, 2002.
19. Miller Roger LeRoy. Economics Today and Tomorrow. Glencoe Division of
Macmillan/McGraw-Hill School Publishing Company, 1995.
20. Misztal Mariusz. Tests in English Thematic Vocabulary. Intermediate and
Advanced Level. Киев: «Знания», 1999.
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University Press, 2004.
22. Powell Mark. Business Matters. Language Teaching Publications, 1999.
23. Practice tests for IELTS. Edition 1. Cambridge University Press, 2000. 24.
Practice tests for IELTS. Edition 2. Cambridge University Press, 2000.
25. Practice tests for IELTS. Edition 3. Cambridge University Press, 2000.
26. Sandler P.L., Stott C.L. Manage with English. Oxford University Press, 1993.
27. Vicki Hollett. Business Opportunities. Oxford University Press, 1999.
28. Vince Michael with Paul Emerson. First Certificate. Language Practice with Key.
English Grammar and Vocabulary. Macmillan Education, 2006.
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