HW check
Pls, submit: Report – task 4 (RB, p 26)
RB, p 34 – Task III1. In 2002 Someland’s exports declined by $18bn.
Someland’s exports dropped from $73bn to $55bn.2. Between 2003 and 2004 Someland’s exports
stagnated / stood still at $55bn.3. In 2004, Someland’s exports gradually increased.4. In the next year, we recorded a rise of 20% in
Someland’s exports.5. Until June 2006, Someland’s exports plummeted by
$53bn.
Practice:Fill in the missing prepositions
Handout: Prices of crude oil
1 since 2 to 3 at 4 by
5 --- 6 --- 7 of 8 to
9 around 10 of 11 by 12 to
Central banking
Central banking functionsListening: RB, p 61
1a ListeningThe functions of a central bank:1) Implementing monetary policy• 1a) setting interest rate ceilings and floors• 1b) printing money or destroying it• 1c) open-market operations2) Exchange rate supervision3) Commercial banking supervision4) Act as a lender of last resortRead the text carefully, underline words/phrases
that seem important/relevant to the topic. Are you sure you understand them?Ask a colleague for help...Do task II
1a ListeningI The functions of a central bank:1) Implementing monetary policy• 1a) setting interest rate ceilings and floors• 1b) printing money or destroying it• 1c) open-market operations2) Exchange rate supervision3) Commercial banking supervision4) Act as a lender of last resortRead the text carefully, underline words/phrases
that seem important/relevant to the topic. Are you sure you understand them?Ask a colleague for help...II: A–1b B–1a C–3 D–2 E–4 F–1c
US monetary policy according to CBS students (2006)
The Federal Reserve (Central bank of
Ben Bernanke
Chairman of the Federal Reserve
Glenn HubbardDean of Columbia Business School
http://www.youtube.com/watch?v=3u2qRXb4xCU
The functions of a central bank
1) Implementing monetary policy2) Exchange rate supervision (after 1st ppt)3) Commercial banking supervision4) Acting as a lender of last resort
Central banking: how can monetary policy help the economy? RB, 62-64
II Read the text again and fill in the table.Work in pairs. Hand in a copy of the table.
III Present one type of monetary policy to your colleague (A and B) using the framework below.(A – expansionary, B- restrictive)
HW: IV Monetary and fiscal policy, p 63-64
The functions of a central bank
1) Implementing monetary policy2) Exchange rate supervision (after 1st ppt)3) Commercial banking supervision4) Acting as a lender of last resort
Pair up!
• Treasury Stanko Linić
• Bank of England Ministar financija
• Chancellor Ministarstvo financija
• The Governor Hrvatska narodna banka
• Georg Osborne Guverner HNB
• _________ Boris Vujčić
Paired up!
• Treasury Ministarstvo financija• Bank of England Hrvatska narodna
banka • Chancellor Ministar financija• The Governor Guverner HNB• George Osborne Slavko Linić• Mervyn King Boris Vujčić
Northern Rock Banking Crises, RB, p 59
Match up the words and definitions below
1 bank run 2 shakeout 3 the Treasury
4 credit squeeze 5 the Chancellor 6 solvent• Read the introduction – underline unknown words
Mortgage lender?
Scan the rest of the text and match questions to corresponding paragraphs
• Read carefully and underline unknown words / parts you do not understand
IV Match the following words from the text to corresponding explanations, p 60 (finish for HW)
HW (a summary):
1) Finish reading Northern Rock crisis and do all exercises
2) Read Helga’s Bar and find out how Helga (with a little help from her friends) ruined a large part of Someland’s economy
3) RB, pp 63-64 – Task IV (fill in the texts on monetary and fiscal policy)
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