IV.Match a word from A column with a word from B column to make a word combination

A B

1 different 1 banknotes

2 paper 2 denomination coins

3 receipts became 3 coins

4 token 4 money

5 bigger 5 commodities

V. Glimpses of History of Money

Read and translate the text

Findthe answers in the text:

What commodities served as money in the past?

How did coins come into use?

How did paper banknotes come into existence?

At different periods of time and in different parts of the world many different commodities have served as money. These commodities were: cattle, sheep, furs, leather, fish, tobacco, tea, salt, shells, etc. The experts underline that to serve effectively as money, a commodity should be fairly durable, easily divisible, and portable. None of the abovementioned commodities possessed all these qualities, and in time they were superseded by precious metals.

First they were superseded by silver and later by gold.

When a payment was made the metal was first weighed out. The next stage was the cutting of the metal into pieces of definite weight and so coins came into use.

Paper money first came into use in the form of receipts given by goldsmiths in exchange for deposits of silver and gold coins. After goldsmiths became bankers their receipts became banknotes. That`s how the first banknotes came into existence. At first coins were worth their face value as metal. But later token coinsof limited value as legal tender were issued. Now smaller denomination coins are made from bronze and are often referred to as coppers. Bigger denomination coins are made from cupronickel and are usually called silver.

After text exercises

VI. Complete the following sentences according to the text:

1. At different periods of time and in different parts of the world…

a) only tobacco, tea and salt served as money

b) many different commodities have served as money

2. The experts underline that to serve effectively as money…

a) a commodity must be made of precious metals

b) a commodity should be fairly durable, easily divisible and portable

3. When a payment was made the metals was…

a) first weighed out

b) a piece of metal

4. After goldsmiths became bankers their receipts…

a) became commodity

b) became banknotes

5. Bigger denomination coins are made from cupronickel and are…

a) usually called metals

b) usually called silver

VII. Give the English equivalents to the following words and word combinations:

немного об истории, надежный–длительного пользования, драгоценный метал, товар-предмет потребления, служили в качестве денег, ювелир, в разные времена, крупный рогатый скот, мех, рыба, табак, выше указанный, качество-свойство, замещать, серебро и золото, резать (метал) на куски, цена-стоимость, взвешивать (метал), возникнуть-появиться

VIII. Say what is true and what is false. Correct the false sentences:

1. Many different commodities have served as money at different periods of time

2. Commodities were superseded by precious metals

3. Paper money first came into use in the 19-th century

4. Small denomination coins are not made from bronze or copper

5. Bigger denomination coins are made from cupronickel and are usually called silver

IX. Complete the sentences with the words given below:

1. Many different commodities have … … … .

2. A commodity should be fairly … … … .

3. First they were superseded by … … … .

4. When a payment was made the … was first weighed out.

5. But later … … of limited value were issued.

a.silver and later by gold

b. token coins

c. metal

d. durable, easily divisible and portable

e. served as money

X. Put prepositions where necessary.

(see appendix – reference section)

1. ….. different periods ….. time and ….. different parts ….. the world different

commodities have served as money.

2. Later they were superseded ….. precious metals.

3. When a payment was made the metal was first weighed ….. .

4. The next stage was the cutting ….. the metal ….. pieces ….. definite weight.

5. Paper money first came ….. use ….. the form ….. receipts given ….. by

goldsmiths ….. exchange ….. deposits ….. silver and gold coins.

XI.Make your own sentences using the following prompts:

a)

1. to serve as smth/smb

2. glimpses of history

3. precious metal

4. to come into existence

5. to be worth face value

Sum up what the text says about:

b)

The money in the past

The way banknotes appeared

The metals of which coins were and are made

The silver coins and coppers

XII. Answer the following questions:

1. What are the requirements of a commodity to serve as money?

2. What coins are called silver?

3. What are smaller denomination coins made from?

4. Why was the metal first weighed out?

5. What are bigger denominaton coins made from?

Unit V

History of Russian money

Pretext Tasks

I Vocabulary list:

1. mint чеканить

2. to convert to Christianity обращатьвхристианство

3. Grand Duke великийкнязь

4. depiction изображение

5. tolag (behind) отставать

6. tenureinofficeпребываниевдолжности

7. convertibleконвертируемый

8.reviveвозрождать

9.legaltenderзаконноеплатёжноесредство

10.currencyденьги, валюта

11.monetarysystemденежная система

12.emergencyпоявление, выход

13.anachronismанахронизм (устарелый, пережитокстарины)

14.drasticchangesкоренныеизменения

15. backed … (by) поддерживать, субсидировать

16. tosetupосновывать, учреждать, открывать

17. tobringintocalculation (coins) ввестивобращение

18. principalmonetaryunitглавная (основная) денежная единица

19.emissionratesэмиссионнаяставка

20.age – oldgapотставание (разрыв, глубокое

расхождениевовзглядах)

21. resumeвозобновлять

22.tointegrateинтегрировать, объединять

23. accountingбухучёт

24. international currency международнаявалюта

25. tobringintocirculation ввестивобращение

II Give the Russian equivalents to the following English phrases:

gold and silver coins, coins were minted, converted to Christianity, “coinless” period, Russian monetary system, national accounting, present – day rouble, with a depiction, more convenient, various denominations, handmade money, to integrate into, global financial system, monetary system, legal tender

III Give the English equivalents to the followingRussian word combinations:

деньги/ валюта, денежная система, ввести в обращение, главная (основная) денежная единица, законное платёжное средство, изображение, конвертируемый, обращать в христианство, великий князь, отставание, возобновлять, коренные изменения, международная валюта, денежная система России

IV Read and translate the following words and word combinations without dictionary:

monetary system, Russian coins, KievanRus, Grand Duke, kopye, Emblem, rouble, symbol, reform, centralized Russian state, type, denomination, financial minister, monetary economy, metal, banknote, reserves, emission rates, Peter the Great, integrate, age-old gap, Global financial system, convertible, inflation, international currency