English for Masters in Economics. Маркушевская Л.П - 78 стр.

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Университет ИТМО | Санкт-Петербург

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78
TEXT 1
Exercise 1. Be ready to answer and discuss these questions:
1. What is money? Is it more than pieces of paper?
2. Why does money have great value?

the dictionary and read the words listed below.
Currency, variable, consumption, to purchase, funds, supply, commodity,
payment,token,inconsistent,ination,cease,wealth,precise,toborrow,
coincidence, value, goods, to grill, surplus, to solve, monetary.
Exercise 3. Read and translate the following collocations:
A medium of exchange, to relate to, on the other hand, a unit of account,
to evolve over time, payment of goods and services, money supply, di
-
rectly from one’s account.
Money
Money has a long and interesting history and an understanding of how
we came to use money is useful for any macroeconomist. Unfortunately,
there is not enough space to describe how money was «invented» and how
it evolved over time. There are, however, many excellent descriptions on the
Internet.
«Money» in economics is actually not as simple to understand as you
may think and many use the term «money» in a way inconsistent with how
it is dened in economics. Money is dened as any commodity or token that
is generally accepted as payment of goods and services.
Two types of money
In most countries, one can identify two «types of money»: currency and
coins, bank deposits. The total value of all the money in a country at a given
point in time is called the money supply and this is an important macroeco-
nomic variable. The reason for the importance of the money supply is that
it measures how much is available for immediate consumption. There is an
important relationship between the supply of money and ination.
135
4. What facts can be set as a low priority for the project?
5. Whichpartoftheplanningprocessisthemostdifcult?
6. When is it possible to introduce accurate delivery dates into the
project plan?
7. What can a project manager do in case he discovers unrealistic
deadline terms?
8. How do you understand the «supporting plans»?

–able, -ful.
Comfort, to enjoy, to break, to help, to mean, to manage, to track, reason
Task 3. Look through the following verbs from the text, then complete the
phrases.
To undertake, to get on with, to meet the need, to draw out, to work out, to
renegotiate, to carry out, to overlook, to update, to celebrate the milestones.
1. Our team _______ the performance of the stated tasks.
2. All the members of the team are required to ______ the same
responsibilities.
3. The main point of this interview is to _______ the real needs of the
project.
4. The only way to deal with the revealed risk is to _______ the terms of
delivery.
5. Launching this product we completely _______________ of our
youngest customers.
6. The travel expenses ____________ 50 dollars.
7. I delegated you the responsibility to ______________ supply
problem, but you failed. You’ll forfeit your position!
8. A good project manager never _______ the risk of missing the deadline.
9. Getting through a project is hard work, that is why it is important to
______________ and to keep morale up.
10. Don’t forget to __________ the risk list every Saturday!
Task 4. Imagine you are a project manager, your task is to organize a New
Year Party for your group. Develop a project plan using the following
template.

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