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1. Memorize the following words:

To seek profit шукати прибуток

As an objective мати за мету

Sole proprietorship одноособове володіння

Stock акція

Nonprofit organization некомерційна організація

2. Suggest Ukrainian equivalents for the following:

To seek profit, to provide goods and services, a nonprofit organization, profit as an objective, major forms of business, is owned by one person, partners are responsible for, to receive a share, a written document, artificial being, are called stocks.

3. Suggest English equivalents for the following:

Акція, некомерційна організація, спільне підприємство, товариство, бути відповідальним за щось, одноособове володіння, особиста властність, шукати прибуток, забеспечувати товарами та послугами.

4. Match the words in the column one with their synonyms in the column two:

To seek as a goal, as an aim

To provide proprietorship

As an objective tendency

Ownership to manage, to operate

Stockholders to give, to supply

To join to look for

To run business to unite

Shareholder

5. Answer the following questions about the text:

1. What is a sole proprietorship?

2. How does a partnership differ from a sole proprietorship?

3. What is the difference between general partners and limited partners?

4. What is cooperation?

6. Retell the text.

THE FORMS OF BUSINESS OWNERSHIP

A business is any organization that sucks profit by providing goods and services to the economic system. A nonprofit organization also provides goods and services to the economic system, but does not have profit as an objective. Churches, armies and the like are examples of nonprofit organizations.

Business takes different forms. The three major forms of business are the sole proprietorship, the partnership, and the corporation. A sole proprietorship is a business that is owned by one person. In essence, the owner and the business are one. All business profits become the property of the owner, and all business debts are the responsibility of the owner. Sole proprietorship is the simplest form of business to enter, to control, and to leave. Perhaps for these reasons, more than two-thirds of all American business firms are sole proprietorship.

A partnership is an association of two or more individuals who act as co-owners of a business for profit. A partnership agreement is a written document setting forth the terms of a partnership.

Corporations are artificial beings created by law. These beings have the right to start and operate a business, to own property, and to enter into contracts. Shares of ownership of a corporation are called stock, and owners are called stockholders. Stockholders are not liable for the corporation`s debts beyond the amount they have paid for its stock. A corporation may grow by expanding its present operations or through merger – the purchase of another corporation.

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VISA INFORMATION

The information provided here will serve as a reference to those wishing to apply for a visa for a friend or a relative to visit them in the U.K. or the Commonwealth. This as a guide only, I am not a professional, I am only putting this information in as a guide from my own experiences gained when sorting out a visa for my friend to visit the U.K.

The links that are vital to the information gained are the Foreign & Commonwealth site from which you will gain the information and the form's that are required for the application of the visa. They can be downloaded from here which will save time because you will not have to have them posted, you can also download the application required for opening them if you do not have this programme, its the Adobe Acrobat Reader. This is a useful site also as a link to the various British consulates around the world and there address's which the person applying will have to visit in order to gain their visa. It will also give telephone numbers and helplines for any other helpful information that you will require. The information that you can download also will include guides on how to go about things for both the applicant and the sponsor of the visitor, this is very useful but don't forget that the information given is in English as is the form, so if the applicant cannot speak English they will need the form and the guidance translating for them.

The sponsor will have to provide a letter of sponsorship to the applicant which they will provide to the issuing authority when they are considering the visa application, this will be about your ability to support the applicant or their ability to support themselves as the case maybe. This will also have to be able to be proved in the application with bank statements or pay slips from your place of work. Bear in mind that if you are posting this information abroad that you may well think about registering your mail as some of my mail has "disappeared" on the route to my friend. This can therefore save time and effort when sorting out the visa, also when writing out the visa if you use a computer and save the letter if it gets lost and you need to send another then you can just send in another copy that you can print off your hard-drive, good thinking eh!

But beware if you say you have visited Russia or where ever they will ask for a copy of your visa for that visit (if one was needed) and also a photocopy of your passport information, this will then be used to prove your case, so don't say you met last month when you visited her or his country and you did not because they will ask for proof and catch you out and that will wreak any plans you have for a visit.

YOU HAVE BEEN WARNED!

Before boarding the plane, you are requested to present a valid passport together with a customs declaration ensuring that you are not violating any of your country's law. That's why it is important to know the existing regulations concerning the export of goods and currency. Upon arrival in a foreign country, you will have your passport inspected by the immigration service. Occasionally you may have your luggage checked by a custom officer. This is done to prevent importation of goods which for various reasons are undesirable to the country's authorities.

Brining things illegally from one country to another is called smuggling. The smuggling or unlawful importation of the goods which are restricted as well as failure to declare such items is a violation of law and results in fines or other penalties.

The importation of some items is limited for different reasons. For example, to prevent the entry of dangerous agricultural pests, plants, soil, plant products, meats, alive animals or animal products are not allowed.

The transportation of currency or financial documents is permitted but it is also regulated and you must report about them regardless the form of monetary instruments (cash, checks or bonds).

You also must declare the total value of all gifts and commercial items and if their value exceeds the determined sum, you will pay duty.

AT THE CUSTOMS

U.S. Customs inspector Harry Standish arrived at Customs inspection station number 1. Shortly before that, a red light on a wall panel near the centre of the big Customs Hall indicated that an inspecting officer had problems and needed supervisory help. Most of the passengers, who had arrived aboard a Scandinavian Airlines DC-S from Copenhagen, had cleared Customs and had left. Only this well-dressed American woman, Mrs. Harriet Mossman, who had just returned from a month in England, France; and Denmark, insisted that all she had bought in Europe was some perfume, costume jewelry and shoes. The total declared value was ninety dollars - ten dollar less than she was allowed duty-free.

The young officer had been suspicious. To begin with the dresses - six, all of good quality - had their labels removed. The cut of the dresses was unmistakably French, so was the tailoring of the fur coat. The same thing was true of the three expensive sweaters. They also were without labels, and were unmistakably from Scotland, in typical British shades, not available in the United States. All this, and much else customs officers learned as part of their training,

"Madam", Inspector Standish said, "Is there anything else you wish to declare?" Mrs. Mossman answered indignantly, "There certainly isn't"

"In that case, Madame", Inspector Standish said," will you kindly open your handbag!" The woman protested, "But surely, purses are never inspected. I've been through Customs many times…" Normally, they are not. But we do have the right."

Reluctantly Mrs. Mossman opened her purse. Harry Slandish inspected a lipstick and a gold compact. When he probed the powder in the compact he extracted a diamond and ruby ring. There was a tube of hand lotion, partially used. When he pressed the tube near the top, there was something hard inside. He wondered when smugglers would come up with something original. Such old tricks, he had seen them all many times. He thought of the foolishness of Mrs. Mossman and the many like her. Had she been honest about the coat and dresses, and declared them the duty payable would not have been great, especially for someone who was clearly well-to-do. Certainly her handbag would not have been opened and she wouldn't have been caught red-handed.

CUSTOMS DECLARATION

Keep for the duration of your stay in Ukraine or abroad. In case you lose this declaration, you may be deprives of the right to transfer all the items mentioned in this declaration across the border of Ukraine. Persons giving false information in the Customs declaration or to the Customs officers shall render themselves liable under the law of Ukraine.

CUSTOMS DECLARATION

Full name …………………………………………………………

Citizenship

Arriving from

Country of destination .

Purpose of visit

(business, tourism, private, etc.)

My luggage (including hand luggage) submitted for Customs inspection consists of………………………………………………pieces.

In my luggage and with me I have:

1. Weapons of all descriptions and ammunition. .

2. Narcotics or narcotics paraphernalia………………………..

3. Poisonous, radioactive and explosive substances…………...

4. Antiques and objects of art (painting, drawings, icons, sculptures, etc.)

5. Ukrainian currency, Ukrainian State Loan bonds, Ukrainian State lottery tickets

6. Foreign currency (bank notes, exchequer bills, coins), payment vouchers (cheques, bills, letters of credit, etc.) securities (shares, bonds, etc.) in foreign currency, precious metals (gold, silver, platinum, metals of platinum group) in any form or condition, crude and processed natural precious stones (diamonds, rubies, emeralds, sapphires and pearls), jewelry and other articles made of precious metals and stones or fragments thereof, as well as estate papers.

I am aware that in addition to the object listed in the Customs declaration I must submit for inspection: printed matter, manuscripts, films, audio and video tapes or cassettes, magnetic media (i.e., computer disks, etc.), postage stamps, fine arts items, means of self-defense, foodstuff, high-frequency equipment, weapons other than firearms, as well as mineralogical and paleontological samples.

I also declare that my luggage sent separately consists of

pieces.

Date 20... Owner of luggage………(signed)

A BRIEF HISTORY OF BANKNOTES

The first recorded use of paper money was in the 7th century in China. However, the practice did not become widespread in Europe for nearly a thousand years. In the 16th century the goldsmith bankers began to accept deposits, make loans and transfer funds. They also gave receipts for cash, that is to say gold coin, deposited with them. These receipts, known as 'running cash notes', were made out in the name of the depositor and promised to pay him on demand. Many also carried the words 'or bearer' after the name of the depositor, which allowed them to circulate in a limited way.

In 1694 the Bank of England was established in order to raise money for King William's war against the French. Almost immediately the Bank started to issue notes in return for deposits. Like the goldsmiths' notes the crucial feature that made Bank of England notes a means of exchange was the promise to pay the bearer the sum of the note on demand. This meant that the note could be redeemed at the Bank for gold or coinage by anyone presenting it for payment; if it was not redeemed in full, it was endorsed with the amount withdrawn. These notes were initially handwritten on Bank paper and signed by one of the Bank's cashiers. They were made out for the precise sum deposited in pounds, shillings and pence. However, after the recoinage of 1696 reduced the need for small denomination notes, it was decided not to issue any notes for sums of less than Ј50. Since the average income in this period was less than Ј20 a year, most people went through life without ever coming into contact with a banknote.

The 18th century saw the gradual move to fixed denomination notes. From 1725 the Bank was issuing partly printed notes for completion in manuscript. The Ј sign and first digit were printed but other numerals were added by hand, as were the name of the payee, the cashier's signature, the date and the number. Notes could be for uneven amounts, but the majority was for round sums. By 1745 notes were being part printed in denominations ranging from f20 to f1,000, the latter being equivalent to f68,000 at 1994 prices.

In 1759, gold shortages caused by the Seven Years War forced the Bank to issue a f10 note for the first time. The first f5 notes followed in 1793 at the start of the war against Revolutionary France. This remained the lowest denomination until 1797, when a series of runs on the Bank, caused by the uncertainty of the war, drained its bullion reserve to the point where it was forced to stop paying out gold for its notes. Instead, it issued f1 and f2 notes.

The first fully printed notes were issued in 1855, an event that brought relief to the Bank's team of cashiers, who no longer had to fill in the name of the payee and sign each note individually.

EARLY MONEY ON THE ISLAND UAP

On the south-sea of Uap, the medium of exchange is called fei. This currency consists of large, solid, thick stone wheels ranging in diameter from one to 12 feet, and in the centre a hole, so that the stones may be carried. They are not found on Uap itself, but are quarried some 400 miles away. Size is the most important factor, but also the fei must be of a certain fine, white limestone. A traveler to Uap described the fei as follow:

"A feature of this stone currency is that its owner does not need to actually possess it. After concluding a bargain, which involves a fei too large to be moved, its new owner is quite content to accept the bare acknowledgement on ownership; and without so much as a mark to indicate the exchange, the coin remains undisturbed on the former owner's premises.

There was in a village near by a family, whose wealth was unquestioned acknowledged by everyone, and not yet no one, not even the family itself, had ever laid an eye on this wealth; it consisted of an enormous fei lying at the bottom of the sea! Many years ago an ancestor of this family, on an expedition after fei, secured this remarkable stone, which placed on a raft. A violent storm arose and the party, to save their lives, was obliged to cut the raft adrift, and the stone sank out of the sight. When they reached home, they all testified that the fei was of magnificent proportions and extraordinary quality, and that it was lost through no fault of the owners. Thereupon it was universally considered that the mere accident of its loss overboard was too trifling to mention. The purchasing power of the stone remained, therefore, as valid as if it were leaning visibly against the side of the owner's house.

SOS FOR THE INCREDIBLE SHRINKING EURO

What ails the incredible shrinking euro? Ever since the currency's official inauguration in January last year, this question has been perplexing the best economic minds in the Governments and central banks of Europe. It has flummoxed the world's best-paid economists and investment managers, who work in banks and hedge funds in Wall Street and the City of London and, almost without exception, have got their currency strategies completely wrong.

Yet rarely has a major question of political economy admitted of such simple and convincing answers - and, most importantly, of answers that are not just theoretically persuasive, but are vindicated in practice daily by market events.

As the euro sinks back towards the all-time lows it plumbed in May against the dollar, yen and sterling, it seems worth repeating these answers - and promoting them from the business to the main comment pages. For the chronic weakness of the euro is more than just a business story with an important political angle for countries such as Britain and Denmark, which have yet to decide whether to join the euro club. It is also a saga of political hubris, diplomatic cunning and intellectual self-deception. But let us begin with the dry economic answers. There are essentially three reasons why the euro has been so weak since its launch. First, the American economy has proved much stronger and healthier than almost any economist predicted in early 1999.

Secondly, the European economy, although it has begun to recover from the five years of recession induced by the preparations for monetary union, has re­mained disappointingly weak and certainly much weaker than that of the US.

Thirdly, the euro began life at an impossibly expensive level. When it was launched, the costs of doing business in most of Europe were far above costs in America, Japan and Britain. Germany, in particular, was hopelessly uncompetitive, with hourly labour costs 60 per cent higher than those in America and 80 per cent higher than in Britain. These exorbitant costs (related not only to the high euro but also to the funding of social policies) made it very difficult for European companies to compete for new investment and internationally mobile capital in an open global market. And since Germany's labour costs when it joined the euro were 40 to 60 per cent higher than those in France, Italy and The Netherlands, it is hardly surprising that locking-in this disadvantage has quickly transformed the former economic dynamo into the sick man of Europe.

Of course, all these answers beg their own questions. Why was the US economy so strong? Why was the European recovery so feeble? And if the euro was so overvalued from the outset, why wasn't this spotted by the policy-makers, economists and investors whose job is to work these things out?

Technology and finance are certainly not the main explanations of the transatlantic gulf in economic performance. After all, in an open global economy, American technology has been available to Europe. And some of the most important advances in mobile telephony, enterprise software, biotechnology and microchip design have been led by European companies. Europe has also been catching up with America in new business formation and in the availability of venture capital; so much so, that the stock-market valuations of Internet and mobile telephone companies are now higher in Europe than they are in the US.

MONEY IN THE USA

The earliest monetary statute, the so-called 'Mint Act' of April 1792, established that 'the money of account of the United States shall be expressed in dollars or units' and that principal subsidiary parts the dollar be expressed in 'dimes (sic) or tenths, cents or hundredth and miles or thousandths' and that 'all accounts in the public offices and all proceedings in the courts of the United States shall be kept in conformity to this regulation.' By this action, the United States became the first of the present community of nations to adopt the decimal system for its currency. Another key statute was the Federal Reserve Act of 1913 (and its various amendments), which created the Federal Reserve System and, among other things, directed the Federal Reserve to manage the nation's supply of money and credit in such a way as to help achieve the basic economic goals of high employment a stable prices.

Many types of paper money have been issued during nations’ history.

Paper money. By far the largest proportion of American paper money in over 99 per cent — consists of Federal Reserve notes. Reserve Banks are currently authorized to issue notes in denomination of $1, $2, $5, $10, $20, $50, and $100, though 2 dollar bills are very rare. A slang word for a dollar is buck. Before 1945 notes were also printed in denominations of $500, $1,000, $5,000, and $10,000. On July 14, 1969, denominations of $500 and larger were ordered retired.

Other Types of Paper Money. Many other types of paper money have been issued over the years. National Currency notes were issued by national banks until 1935. Gold certificates, paper money that could be exchanged for gold, were issued until 1934. Silver certificates were issued until 1957. One-dollar silver certificates made up most of the $1 bills until the first Federal Reserve notes were issued in 1963.

Size. All currently issued United States paper money is of uniform size regardless of type or denomination. Today's notes measure approximately 6.14 x 2.61 inches, are about 0.0043 inches thick, and weigh 0.03 troy ounces. Prior to July 1929, most notes measured 7.42 by 3.125 inches and, because of their large size, were often referred 'blanket bills.'

Seal. All denominations of paper money carry the Treasury seal. Prior to modernization of the design in 1968, the seal was encircled with the Latin inscription, Thesaur. Amer. Septent. Sigil., an abbreviation meaning 'The Seal of the Treasury of North America.'.

Serial Number. The serial number appears in two places on the face of all United States paper money — in the upper right and lower left portions. Serial numbers on all paper money now in common use are always in eight digits. They also have a prefix letter and a suffix letter, unless they are 'star' notes (replacements for notes damaged in the printing process or found on inspection at the Bureau to be defective).

The letters are considered a part of the number. Thus, on United States notes the first note of any denomination in a new series will have the serial number A 00000001 A; the second, A 00000002 A; and so on.

The National Motto. Legislation approved by Congress on July II, 1955, instructed Secretary of the Treasury to include the inscription “In God We Trust” on all United States currency — paper money as well as coins. The following year Congress adopted 'In God We Trust' as the national motto.

Coins. In the United States, coins are 'convenience' money for daily transactions. Denominations in use today are the dollar (100 cents), half-dollar (50 cents), quarter (25 cents), dime (10 cents), nickel (5 cents), and penny (1 cent).

1 cent is a small copper coin known as a" penny". A 5-cent coin is called a "nickel", a 10-cent coin is a "dime", and a 25-cent piece is known as a "quarter". Unlike the word "buck" these are standard terms. Half dollar and one dollar coins have no special name and are rather rare.

Note the proper way of naming a certain sum:

1.40 - "one dollar and forty cents" or "a dollar and "forty cents" or "one forty", 3.10- "three dollars and sixty cents" or "three sixty".

INFLATION

Inflation has a vital impact on the economy of a nation. Therefore it is important for us to understand its causes and effects.

During its development any economic system passes through many business cycles, some mild and others extreme.

Inflation is such one that has a vital affect on a nation's economy. We all can notice that money could buy a lot more some time ago than it can these days. It means that purchasing power of money is lower now comparing to what it used to be.

Economists use the terms purchasing power or value to describe the quantity of goods and services we can buy with our money. When prices increase, our money can not buy as much. Its purchasing power declines.

An extend period of raising prices is called inflation. When a price raises, there is both a winner and a loser. The loser is a buyer who has to pay more. However there is a benefit to the seller, who gets more. When people find the goods they sell rising in price, they see the increase as perfectly right, normal, and justified. On the other hand, when they find the goods they buy rising in price, they often view the increase as evidence of the seller's greed.

When the price of wheat rises, farmers see themselves at last getting a reasonable return from their toil. When the price of oil increases, the oil companies argue that they are getting no more than the return necessary to finance the search for more oil. When the price of books rises, authors feel they getting no more than a "just" return for their creative work. However, when the farmer, the oil company, the author find the that the prices of the goods they buy have in­creased, they believe they have been cheated by inflation.

Inflation affects people differently: some suffer, others benefit. Inflation hurts people living on fixed incomes and people who saved fixed amount of money for they retirement or for "a rainy day". Inflation can cause business mistakes. For good decisions business need an accurate picture of what is going on. When prices are going rapidly, the picture becomes obscured. Decision-makers cannot see clearly. Those who lend money are in the same position as those who save. If during the time of the loan inflation increases, the money returned when the loan comes due will be worth less than the original loan, unless the interest rate on the loan was greater than the rate inflation.

It is convenient to identify the major types of inflation:

The most familiar form of inflation is called demand-pulled inflation. It suggests that demand is pulling up the price level. If the demand for goods and services increases faster then production, there simply won't be enough goods and services to go around.

Every market in changing supply condition can also raise prices. The cost of producing goods and services increases and the producers can no longer afford to sell goods at prevailing prices. They have to raise prices. The result is a cost-push inflation.

However, when inflation gets beyond a moderate rate, there is a widespread agreement that it becomes a menace. It becomes more than a mere transfer of money from the buyer to the seller; it interferes with the production and exchange of goods. The situation during a very rapid inflation, when economic activity is severely disrupted is called hyperinflation. Hyperinflation - a skyrocketing of prices at annual rates of 1,000% or more - occurs most commonly 'during or soon after a military conflict.

For many people, changes in a price index are more than a matter of an idle curiosity. Real income is always affected by changes in consumer prices. To maintain the real wages or salaries in an inflationary period helps a cost-of-living adjustment. This means adjustment of nominal income to the rate of inflation. The adjustment is only partial and seldom protects fully against inflation.

TAXATION

"But in this world nothing can be said to be certain, except death and taxes. "-Benjamin Franklin, 1789.

Whatever we may think of any specific governmental expenditure, we must recognize on basic fact of life: we pay for government spending that is we give the government part of our income in the form of taxes.

But to pay the cost of the government is not the only function of taxation. Sometimes taxes are levied to protect selected industries; sometimes they are used to discourage activities the government considers being harmful. For example, it is very probable that cigarettes cause lunge cancer and other serious ailments. In this connection we need to mention excise taxes. It is also the major source of revenue. Excise taxes are imposed on specific goods and services like alcohol, cigarettes and variety of other goods and services. Such taxes not only discourage production and consumption of these goods - by raising price and thereby reducing the quantity demanded - but also raise a substantial amount of revenue.

By increasing or decreasing taxes, government can directly affect the amount of money available to be spent.

Though neither society will survive without them, taxes are more criticized than praised. Everybody would agree that some taxation is necessary but the question who should pay taxes and what amount can lead to disagreement. If necessary, taxes are collected by force but there are however some principals for judging fairness.

The benefit principle. This principle recognizes that the purpose of taxation is to pay for government services. Therefore, let those who gain most from government services pay the most. Consider, for example, the case of highway tunnel or bridge. The drivers must be required to support the program through taxes. If the benefit principle of taxation is followed, it is up to the government to estimate how much various individuals and groups benefit, and to set taxes accordingly.

The ability to pay principle. If the government sets taxes according to benefit principle, it does not redistribute income. People are taxed in proportion to their benefits from governmental program. If the government wishes to redistribute income, it can set taxes according to the ability to pay. The basic measures of the ability to pay are income and wealth. It means that taxes ought to be paid by those who can afford them, regardless of the benefits they receive. This principle states that as income increases, the proportion spend on luxuries increases, while that spent on necessities decreases. It follows that taxing higher-income groups may deny them certain luxuries, but taxing the poor reduces their ability to buy necessities.

Economists use the term the tax incidence meaning distribution of the real tax burden. In other words the incidence refers to who actually ends up paying taxes.

Types of Taxes. Most taxes can be classified as progressive, proportional or regressive by their economic impact on the individuals or firms that have to pay them.

If the income tax is designed to be progressive, it means that it takes a larger fraction of high income than of law income.

Thus people with high income pay not only more taxes but also pay larger fraction of their income.

A regressive tax is one that takes a higher percentage of a low income and a lower percentage of a high income. Sales taxes and property taxes are re­gressive - they impose higher tax rate on lower incomes. For example, a low-income family and a high-income family buy $500 refrigerators with a sales tax of 8%. They would both pay a $40 sales tax. For the poor family it would be a higher percentage of their total income than that of the rich one.

Regressive taxes are often regarded as unfair because they place the heaviest tax burden on those least able to pay.

BANKING IN UKRAINE

It dates to March 1991 the Ukrainian Parliament passed the law “On Bank and Banking Activities”, determining this system as two-level, composed of the National Bank and commercial banks.

Starting from almost nil, when even Ukraine's Central Bank was little more than a transit for funds coming from Moscow, a new Ukrainian banking system has managed to materialize in just a few short years. It has been steadily developing and growing since 1989, and by November 1994, 227 banks where registered in Ukraine. These Financial institutions range from credit unions to full-scale banks offering up to 30 different type services.

The activity of these banks - most of them commercial - is overseen by the country's central bank, the National Bank of Ukraine (NBU). Although the NB is under jurisdiction of the country's legislature.

Two of Ukraine's largest banks are still state-owned: Ukreximbank - the State Export - Import Bank of Ukraine, and Ukroshchadbank - the Ukrainian savings Bank. Ukreximbank specializes in international trade, providing wide scale services to over 11,000 clients. Currently, Ukreximbank controls an estimated 80% of all export - import operations of Ukrainian State - owned enterprises. It has correspondence accounts in 12 of the largest banks in Europe, North America and Asia.

Ukroshchadbank holds all the saving accounts for Ukraine's 52 mln citizens in branches that stretch across the country. It has also opened privatization accounts for Ukrainians to take part in /the privatization drive. Plans are already underway by the NB to turn Ukroshchadbank into a joint-stock company, which is expected to improve and widen its daily operations. When this happens Ukroshchadbank will join 3 other former state banks that have already turned into join-stock companies: Prominvestbank Bank, Ukraina and Ukrsotsbank. The state still finances many of its programmes through those banks.

Although these former state banks hold 88% of the country's financial market a new wave of young commercial banks is quickly edging its way into their territory. Most of these are banks formed by small state enterprises with the help of private capital. These banks are serving the new and growing private sector, particularly trade and export-import companies. Even state businesses are slowly starting to turn to these enterprising young banks to take advantage of their competitive services.

There are yet other banks in Ukraine that were established by ministries and large state enterprises. These include banks such as Gazbank, Energobank, Naftabank and others, which serve specific sectors of the economy. Ukraine also boasts 2 banks with foreign investments: Credit Lyonnais Ukraine and First Ukrainian International Bank.

Regardless of the NB's tight fiscal policy - aimed to combat inflation -Ukrainian banks are still working at increasing their resources and capital shares, and technically improving their banking operations. In so doing they hope to promote Ukraine's economic development, bring its banks to world standards, and enter the world banking system.

More than 10 of the country's largest banks are already connected to the SWIFT international settlement system. As well, a number of banks, in the effort to meet growing customers demands have established correspondence accounts with foreign banks, and started working with credit card and traveller's cheques. The Interbank electronic payment system was launched.

These new commercial banks have already gained experience from working in the Ukrainian and foreign financial markets. The Ukrainian Association of Banks - the largest banking association in the country - views banks, both small and large, as paying a vital supporting role in the country's transitions to a market economy.

Banking activity in Ukraine is regulated by the law "On banks and banking" passed by Ukrainian Parliament in March 1990. So far, the law has undergone four revisions, and has also been amended by Government decrees.

Currency operations are regulated by the Decree issued by the government and the instructions of the NBU.

THE WORLD BANK

Founded in 1944, the World Bank is a development institution whose goal is to reduce poverty by promoting sustainable economic growth in its client countries. Development is a long-term process which ultimately involves the transformation of whole societies. It is also about empowering the people, building the roads, writing the laws, recognizing the women's rights, educating the girls, eliminating the corruption, protecting the environment, inoculating the children - and much, much more. Development is about balancing economic and social programs.

The challenge is immense, and this means that everyone involved in the development process - governments, institutions such as the Bank, civil society, and the private sector - must work in close partnership to define the needs and implement the programs.

The global fight against poverty is aimed at ensuring that people everywhere in this world have a chance for a better life for themselves and for their children.

The World Bank is the world's largest source of development assistance, providing nearly $30 billion in loans annually to its client countries. The Bank uses its financial resources, its highly trained staff, and its extensive knowledge base to individually help each developing country onto a path of stable, sustainable, and equitable growth. The main focus is on helping the poorest people and the poorest countries, but for all its clients the Bank emphasizes the need for:

- Investing in people, particularly through basic health and education;

- Protecting the environment;

- Supporting and encouraging private business development;

- Strengthening the ability of the governments to deliver quality services, efficiently and transparently;

- Promoting reforms to create a stable macroeconomic environment, condu­cive to investment and long-term planning;

- Focusing on social development and institution-building as key elements of poverty reduction.

The World Bank today consists of five closely associated institutions:

IBRD - The International Bank for Reconstruction & Development. The IBRD provides loans and development assistance to middle-income countries and creditworthy poorer countries. Voting power is linked to members' capital subscriptions, which in turn are based on each country's relative economic strength. The IBRD obtains most of its funds through the sale of bonds in international capital markets.

IDA - The International Development Association. IDA plays a key role in supporting the Bank's poverty reduction mission. IDA assistance is focused on the poorest countries, to which it provides interest-free loans and other services. IDA depends on contributions from its wealthier member countries—including some developing countries—for most of its financial resources.

IFC - The International Finance Corporation. IFC promotes growth in the developing world by financing private sector investments and providing technical assistance and advice to governments and businesses. In partnership with private investors, IFC provides both loan and equity finance for business ventures in developing countries.

MIGA - The Multilateral Investment Guarantee Agency. MIGA helps encourage foreign investment in developing countries by providing guarantees to foreign investors against loss caused by non-commercial risks. MIGA also provides technical assistance to help countries disseminate information on investment opportunities.

ICSID - The International Centre for Settlement of Investment Disputes.

ICSID provides facilities for the settlement - by conciliation or arbitration - of investment disputes between foreign investors and their host countries.

CHANGES IN PEOPLE'S INCOME

An important factor which causes shifts in demand is changes in the real income of customers and clients. Although income can come from many sources - profits, interest, dividends, rent, social security benefits - most income is in the form of salaries or wages.

The factors which influence what people have to spend are:

- Changes in real income. Increases in real purchasing power arise from wage and salary increases, and from a change to an occupation where the pay is higher. Increases in real income enable people to become customers and clients for products and for services which they previously couldn't afford.

- Changes in the price of other goods and services. The demand for a good or service is sometimes affected by the price of other goods or services. Some items of personal expenditure are essential (inelastic demand) - for example, most people have to spend money on rent and food. If the cost of these essential items increases, then there is less money remaining to buy other products and the demand for non-essential items, such as entertainment and luxury goods, falls (elastic demand)

- The State's income is obtained through direct and indirect taxation. All taxation leads to a reduction in people's income, and therefore, when taxation levels are increased, there is an automatic reduction in the demand for the goods and services purchased by private citizens. However, the Government does spend the revenue which it has obtained on public services such as „ education, health and police, which keeps the money in the system.

Changes in tastes and income cause constant shift in demand, and therefore are a problem for producers. In order to survive, organizations can never remain static: they must always be responding to changes in society.

Міністерство освіти і науки, молоді та спорту України

Донбаський державний технічний університет

Факультет менеджменту

Кафедра мовної підготовки фахівців

ЗАТВЕРДЖУЮ

Проректор з навчальної роботи ДонДТУ

_____________________М. М. Заблодський

„ " 20 _.

РОБОЧА НАВЧАЛЬНА ПРОГРАМА

навчальної дисципліни

„Ділова іноземна мова"

напрям підготовки 6.030601 - „Менеджмент"

освітньо-кваліфікаційний рівень – бакалавр

(заочна форма навчання)

Розглянуто і схвалено на засіданні кафедри

Протокол № 1 від 31. 08. 2012

Зав. Кафедрою______________

Алчевськ, 2012

Характеристика навчальної дисципліни:

Обов’язкова

Рік підготовки: 3-й

Cеместр: V Cеместр: VI

Загальний обсяг: 81 Загальний обсяг: 81

Практика: 4 Практика: 4

Самостійна робота: 77 Самостійна робота: 77

Вид контролю: залік Вид контролю: залік

Характеристика навчальної дисципліни:

Обов’язкова

Рік підготовки: 4-й

Cеместр: VII Cеместр: VIII

Загальний обсяг: 81 Загальний обсяг: 81

Практика: 4 Практика: 4

Самостійна робота: 77 Самостійна робота: 77

Вид контролю: залік Вид контролю: іспит

ПРОГРАМА

МЕТА: Розвиток та вдосконалення навичок читання оригінальної літератури за спеціальністю; формування навичок усного мовлення в ситуаціях проф. спілкування; формування навичок систематизації, узагальнення та оцінки отриманої інформації.

ЗАВДАННЯ: навчити студентів практичному володінню:

- різними видами читання (вивчаюче, ознайомлювальне, проглядове);

- монологічним висловлюванням з вивчених тем;

- граматичними конструкціями і вмінню їх практично застосовувати.

ПРЕДМЕТ: лексика, граматика і фонетика іноземної мови.