Study newsletter 2014, week 27 Content Language level Page Phrase of the week To get the sack All levels 1 Mind map Newspaper All levels 2 Headline English Eurocrisis and the ECB s response Business Writing Be Specific Test Financial English Pre-intermediate (B1-) Advanced (C1) Pre-intermediate (B1-) Advanced (C1) Pre-intermediate (B1-) Advanced (C1) 3 4 5 6 7 Phrase of the week To get the sack To be fired from work. You can use this phrase in language. Spoken Written Informal Example 1 It s outrageous! I got the sack after fifteen years working for the company. Example 2 An employee is getting the sack for lighting up a cigarette at work. 1
Mind map Learning new vocabulary in the most effective way Vyzkoušejte si interaktivní Mind mapy zde: http://www.kurzy-spevacek.info/mind-map/ Klikejte na slova, uslyšíte jednotlivá slovíčka namluvená rodilým mluvčím. Slovíčka Slovo Classified ad Press conference Subscription Broadsheets Newsprint Columns Tabloids Editor-in-chief Comic strips Cartoons Význam slova inzerát tisková konference odběr velkoformátový tisk novinový papír sloupek bulvár šéf redaktor obrázkový seriál karikatura 2
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Eurocrisis and the ECB s response http://www.ft.com/intl/cms/s/0/b76f1f58-ed75-11e3-8a1e-00144feabdc0.html?siteedition=intl#axzz35kt6nunt Some analysts consider the European Central Bank s recent monetary easing, which involved negative rates on banks deposits at the ECB, a farce. These analysts have argued that the measures made use of illusionist tricks, but had very little real power to lift inflation from its dangerously low level. The ECB s President Mario Draghi, they say, has proven to be an able magician once again, as he has apparently succeeded in persuading many that there actually is something that the ECB can do about inflation. Many people believe that central banks can increase inflation by printing money. But how can they be so sure about that? The analysts sceptical about the ability of central banks to do that include Prof. Joerg Bibow, who recently wrote a letter to the Financial Times, arguing that inflation is not likely to appear in an environment of wage repression, which he says has been the official response of the EU to the euro crisis, even if it has been sold under the euphemism of structural reform of the labour market. His argument is as follows: you cannot expect people to spend more if their wages are not rising. Even in Germany, with its extreme rise in productivity in terms of unit labour costs, wages have been growing at an annual rate of only 2 per cent. In order to be able to gain back their market shares lost to Germany as a consequence of its wage repression before the crisis, the peripheral countries need to make sure their wages grow less than the German ones. As a result, there is not much space for wage increases and therefore for inflation. The softening of credit conditions cannot make up for this missing income; what is needed is wage increases, says Bibow. 3
Questions 1) Why have some analysts called the recent ECB intervention a farce (line 4)? 2) Who is Mario Draghi and why is he called an able magician (line 7) in the article? 3) What is, according to Prof. Bibow, the actual meaning of structural reforms of the labour market? 4) Why have, according to Prof. Bibow, the other euro area countries lost market shares to Germany? 5) What are they doing to regain them? 6) Why is higher inflation failing to appear in the euro area, according to Prof. Bibow? 7) Would you like your wages to increase at the cost of increased inflation? 8) Who do you think would profit and who would lose from higher inflation / higher wages? Vocabulary wage repression (line 14) deliberate measures aimed at prompting wage decreases, conducted by employers and, especially, by governments unit labour costs (line 18) the amount of money needed to pay an employee per unit of output. Unit labour costs depend on the workers productivity and on their wages market share (line 20) the portion of a market controlled by a particular company or product, or, in this case, companies or products from a particular country credit conditions (line 23) the concept expressing how difficult or easy it is to obtain credit from a bank You can find additional explanation and more examples to help you understand and use English words and phrases at http://dictionary.reference.com, http://dictionary.cambridge.org/, http://www.merriamwebster.com/ or http://www.ldoceonline.com/ 3
Business Writing Business Writing Tip #41 Be Specific Be specific. Be concrete. By spelling things out you make it easier for people to understand. You are also more credible. If you find yourself writing something like, Funds have been set aside for the refurbishment of various assets, ask yourself what you really mean, what it is that you re trying to say. Does this sentence mean anything at all? Look at the words and phrases. Funds: how much? Have been set aside: by whom? Who is footing the bill? Refurbishment: modernization, replacement or a lick of paint? Various: which ones? Assets: what are they? Buildings, cars, photocopiers, printers? Now look at this sentence: The Sydney division of the company has set aside $500,000 dollars to replace all the computing equipment and upgrade the photocopiers. We now know exactly who is paying, what the budget is, and what it s for. This tip is important when you re answering questions at job interviews. Compare 'I supervised a team of ten with a budget of $4 million and our sales increased by 30% year on year from 2005 to 2008.' with 'I supervised a big team with a pretty good budget. Our sales increased every year.' Which example gives you more information, and coincidentally is also more credible? When you have numbers you can check facts. Here are some other examples of specific and general words/phrases: About Door TV, radio Public transportation facilities At 1500 hours Relating to the situation regarding Entranceway Broadcast media Trains, buses and trams In the afternoon 5
Remember that you want to make things easy for your reader. When you send an email, avoid using words like the current situation. Your reader may be in the midst of 5 or 6 different current situations. Be specific and spell it out. DALICE TROST, původem z Austrálie, je absolventkou magisterského studia managementu lidských zdrojů na University of Canberra v Austrálii. Lektorka je držitelkou certifikátu TEFL opravňující k výuce cizích jazyků. V rámci své profesní praxe zastávala vysoké manažerské pozice jako personalistka, senior supervizorka, HR manažerka, a to mimo jiné ve společnostech v Dubaji a Austrálii. Aktivně se věnuje publikační práci v oboru vzdělávání a anglického jazyka. Lektorka je autorkou knihy, ze které čerpáme tyto tipy: Business Writing-A Tip a Day for 30 Days 6
TEST Financial English 1. When you go to an auction and you want to buy a particular item, you can simply make a... for it. A try B test C go D bid 2. The great thing about this guarantee is that there is never any doubt and there is no... about getting your money back. A squabble B argument C quibble D quarrel 3. There is a substantial... between the money you have available and the amount you need to spend. A shortdrop B shortfall C shortdown D shortslide 4. When you retire, you should get a pension and a... sum from your employers. A lump B block C pile D heap 5.... are people who put money into a business in the hope of making a profit. A Spenders B Borrowers C Lenders D Investors 6. When you take out a large loan over many years, you don t start paying off the... for some time. A main B chief C capital D bulk 7. We will make no... for the catalogue, which you can take with our compliments. A cost B debt C charge D payment 8. It may seem a long way into the future but in the end you will get some... from your investment. A produce B benefit C products D price 9. There is still an outstanding... on that account, which must be paid in 30 days. A balance B scale C difference D cost 10. Interest... are at their lowest level since the 1950 s. A figures B rates C numbers D standards Správné odpovědi se dozvíte ihned po dokončení online testu zde: http://www.kurzy-spevacek.info/on-line-testy/minitesty-prakticke-anglictiny/financial-english/ Správné odpovědi z minulého týdne (English for International Business): 1C, 2C, 3D, 4B, 5D, 6C, 7C, 8A, 9A, 10A. 7