Нина Пусенкова - Английский язык. Практический курс для решения бизнес-задач
Systematic risk – risk that is characteristic for all securities of a given class and cannot be eliminated through portfolio diversification.
Systemic risk – a situation when problems in any one financial institution or market may spread, widely endangering the whole system.
Exercise 4.economy, US dollar terms, account for, worth, GDP, appreciation, exchange rates, average, shift, growth rates, individuals, per capita, spending, assumption, projections, challenges, forecasts, implications, pattern, activity, engine, demand, offset, ageing, returns, advanced, weight, portfolios, flows, currency, incomes, pricing, commodities, opportunities, global, strategic, list, richest
Lesson 22
Exercise 2.1. crowding out, 2. currency, 3. gold standard, 4. inflation, 5. interest rate, 6. investment, 7. liquidity trap, 8. money supply, 9. peg, 10. savings.
Exercise 4.macroeconomics, microeconomics, laissez-faire, Nobel, Economics, consumption, stabilization, federal, institution, contributed, Chicago School, affiliated, monetarist, money supply, phenomenon, Federal Reserve Bank, fiscal policy, restricted, Great Depression, financial shock, contraction, intervention, freely floating, negative income tax, welfare, bill, foundation, advisors, free market policies, relationship, economic situation
Lesson 23
Exercise 2.
Increase: climb, recover, mount, soar, pump up, push up, peak, rise, surge, grow, drive up, boost, expand, upturn, upswing, gain, hike, lift, shot up
Decrease: downturn, cut, push down, lower, decline, fall, plunge, drop, drive down, slip, diminish, contract, reduce
Exercise 3.1. capital expenditures, 2. depreciation, 3. balance of payments, 4. Central Bank, 5. corporate tax, 6. fiscal year, 7. foreign direct investments, 8. gross domestic product, 9. inventory, 10. public finance
Exercise 4.petrodollars, forecast, hard currency, averages, upbeat, advisor, oil sector, mismanagement, wealth, natural resources, growth, windfall, spending, crunch, Stabilization Fund, accumulating, boost, tax revenues, hike, threshold, fiscal discipline, populist, outlays, GDP, cash payments, fiscal policy, public finances, budget surplus, inflation, upward, consumer prices, target, exacerbate, strengthening, manufacturers, value, in real terms, appreciate, macroeconomic, institutions, stability, «rents», interference, interest groups
Lesson 24
Exercise 2.1. free trade, 2. free trade zone, 3. IMF, 4. Maastricht Treaty, 5. multinational company, 6. NAFTA, 7. protectionism, 8. stock exchange, 9. WTO
Exercise 4.developing nations, global markets, «invisible hand», deregulation, barriers, cross-border, exposed, comparative, trading partners, low wage, market forces, central planning, downward, inflation, volatility, innovation, structural shift, outlook, transitional, division of labor, specialization, transactions, world economy, stimulus, incentive, function, impetus, risk-adjusted rates of return, borders
Lesson 25
Exercise 3.1. economies of scale, 2. economies of scope, 3. horizontally integrated MNC, 4. kickback, 5. license, 6. MNC, 7. quota, 8. red tape, 9. vertically integrated MNC
Exercise 5.developing countries, multinationals, doing business, government officials, co-chairs, FDI, administrative reform, banking system, red tape, working group, boosting, strengths, labor costs, education, consensus, investment climate, awareness, executives, media, opportunities, campaign, attracting, tax, capital intensive, locations, community, representation, venue, impact, Customs, legislation
Lesson 26
Exercise 2.advance payment, bill of exchange, capital goods, consumables, consumer goods, jobbing, manufacture, open account trading, person, raw material, spare part
Exercise 4.consumption, FDI, multinational, commitments, liberalize, productivity, tariff barriers, antidumping, expansion, import protection, contract, return on investment, households, safety nets, adverse, transition, unskilled, displaced, incur, retraining, relocation, living standards, public policy, sustained, incentives, offset
Lesson 27
Exercise 2.The following statements are not correct: 2, 3, 4, 8, 11.
Exercise 3.1. ask (offer) price, 2. base currency, 3. bid price, 4. central bank, 5. commission, 6. counter currency, 7. cross currency pairs or cross rate, 8. fundamental analysis, 9. intervention, 10. limit order, 11. liquidity, 12. lot, 13. pips, 14. quote, 15. settlement, 16. spread, 17. technical analysis, 18. transaction cost
Exercise 4.marketplace, transactions, contracts, negotiated, counterparties, delivery, currency, notional, FX, derivatives, interbank, binding, instrument, traders, underlying, profit, risks, rewards, exit, positions, «open outcry», E-trading, individual investors, MNCs, fluctuations, transparent, liquid, clearing, fees, physical, cash-settled
Lesson 28
Exercise 2.The following statements are not correct: 1, 3, 4, 5, 7.
Exercise 3.1. broker, 2. dealer, 3. full disclosure, 4. liquidity, 5. NASDAQ, 6. OTC, 7. secondary market, 8. SEC, 9. settlement
Exercise 4.stock market, regulator, SEC, fraudulent, easy, hazardous, structured, industry, supervision, public, securities, divisions, compliance, overseeing, disclosure, filed, transparency, filings, material, offerings, reports, M&As, proxy voting, AGMs, fair self-regulating organizations, broker-dealer, rules, disagreements, surveillance, overseers, advisors, registered, regulations, violations, law-enforcement, criminal, insider trading, fiduciary, integrity
Lesson 29
Exercise 3.1. collateral, 2. bearer, 3. capital market, 4. corporation, 5. equity, 6. marketable securities, 7. private placement, 8. registered security, 9. secondary market, 10. securities markets, 11. securitization, 12. stock
Exercise 4.volatile, community, sophisticated, utility, ADRs, depository, entity, custodian, issued, transaction, underlying, securities, agent, initiating, convert, delivered, notifies, transfer, registrar, intra-market, cancellation, cross-border, surrenders, cancels, holder, financial, OTC, exempted, compliance, disclosure, publicly-traded, GAAP, SEC, regulatory, execute, Form 6, listing, exchanges, offering, due dilligence, public, raise, placements, qualified, eligible, issuers, awareness, standards, liquidity
Lesson 30
Exercise 2.1. callable bond, 2. certificate of deposit, 3. credit quality, 4. high grade, 5. long term debt, 6. maturity, 7. municipal bond, 8. stock buyback, 9. Treasury Bills, 10. Treasury Bonds, 11. Treasury Notes, 12. yield, 13. yield curve
Exercise 4.downside, budget surplus, emerging markets, profitable, in the black, downgrade, private sector, institutional investors, secondary market, underperform
Exercise 5.bonds, stocks, performance, volatility, portfolio strategy, asset, individual investors, rewards, money market, financial, cash, parameters, allocation, equity-only, equity market, growth, objectives, capital, income, return, Wall Street, weighted, conservative, fixed-income, holdings, dividends, supplement, deregulation, appreciation, competitive, funds, buybacks, course, foreseeable, trend, incentives, diversified, stream, flexibility, interest
Lesson 31
Exercise 2.1. bridge financing, 2. caveat emptor, 3. Chinese Wall, 4. conflict of interests, 5. Glass Steagall Act, 6. investment analyst, 7. joint and several liability, 8. lead manager, 9. market maker, 10. oversubscribing, 11. syndicate, 12. underwriting
Exercise 3.сapital, household, issues, IPOs, conditions, returns, transparency, governance, funds, public, equity, profile, listing, attracting, holdings, consumer, exposure, demand, multiples, priced, weighting, oversubscribed, NYSE, floated, range, traded, opening, closed, offer, overseas, analyst, road show, securities, Big Board, leveraging, awarded, disclosed, prospectus, involvement, announced, stock, international, acquired, stake, goods, commitment, player, Chairman
Lesson 32
Exercise 2.1. bear market, 2. bull market, 3. futures contract, 4. going long, 5. going short, 6. limit order, 7. option, 8 rally, 9. stop loss order, 10. whipsaw
Exercise 4.appreciating, depreciating, attitudes, bull, uptrend, economy, employment, bear, downward, laying, stock, demand, supply, share, sell, buy, individuals, fundamental, performance, profit, equities, fixed income, confidence, decline, trading, exchanges, record, consumers, valuates, drives, determinant, trend, correction, determine, tendency, reversal, multiple, decisions, stagnation, flat
Lesson 33
Exercise 2.1. basis point, 2. blue chip, 3. capital expenditures, 4. country risk, 5. debt, 6. Eurobond, 7. IAS, 8. market capitalization, 9. premium, 10. spread
Exercise 4.profit, income, earnings
Exercise 5.opportunity, invested, institutional, gains, mutual, retail, block, volume, exchanges, worth, earnings, market, research, piggybacking, focus, upside, pros, valuation, premium, peers, prospects, watch, winners, dynamic, performance, bullishness, insurance, purchase, portfolio, break-even, gain, trading, damage, game, rebounds, forecast, deal, bargain, falling, average, current, indexes, accumulation, distribution
Lesson 34
Exercise 2. 1. CUSIP number, 2. DCF, 3. EBIT, 4. lease, 5. operating cash flow, 6. par value, 7. profit, 8. risk premium, 9. terminal value, 10. unleveraged shares
Exercise 4. target, upgrade, recommendation, operating, performance, disposable, capita, consumption, schedules, raise, turnover, projections, year-on-year, discount, risk-free, WACC, P/E, posted, trades, peers, multiples
Lesson 35
Exercise 2.1. compound interest, 2. diversification, 3. efficient market, 4. gearing, 5. ROE, 6. risk taker, 7. standard deviation, 8. systematic risk, 9. unsystematic risk
Exercise 4. high-yield bond, risk averse, protectionism, depreciation, bid price, bear market, equity financing, liabilities, sell-side, independent directors
Exercise 5. fund, environment, advice, fundamental, income, fair, bargain-priced, overpriced, superior, portfolios, upside, undervalued, screening, criteria, sentiment, value, returns, stream, practices, outlook, hold, diversification, performance, asset, dimension
Leeson 36
Exercise 2. 1. asset, 2. balance sheet, 3. collection period ratio, 4. corporate finance, 5. cost of goods sold, 6. current assets, 7. dividend, 8. inventory, 9. leverage, 10. payables, 11. receivables, 12. stock buyback, 13. term loan
Exercise 3.time value, investments, interest, cash flows, present, future, adjusting, mechanism, compounded, discounted, stream, annuities, model, pattern, inflows, outlay, alternative, valuation
Lesson 37
Exercise 1.acid-test ratio, fixed assets, preference shares, gearing, leverage trading, par value, stocks, unlevered firm, profit and loss statement, exercise price
Lesson 38
Exercise 2. The following statements are not correct: 2, 4, 7, 8.
Exercise 3. 1. civil law, 2. tort, 3. fraud, 4. remedy, 5. judge, 6. plea, 7. attorney, 8. lawsuit, 9. freeze.
Exercise 4. Owner, attorney, vision, control, structure, lawsuits, tax, loss, reinvest, cash, small, responsibilities, assets, liabilities, law, share, proprietorships, legal, disputes, bought, breakup, capital, chartered, entity, sued, contractual, shareholders, BoD, policies, dissolve, distributions, compensation, profit, IRS, permissible, limited liability, filed, expiration, continuity, transferability.
English-Russian dictionary
A
absentee a – отсутствующий (на работе), прогульщик
absenteeism n – абсентеизм, прогул
abuse n – нарушение, злоупотребление; оскорбление, плохое обращение
abuse v – нарушать, злоупотреблять; оскорблять, плохо обращаться
accelerator effect – эффект акселератора (ускорителя) (взаимосвязь темпов экономического роста и уровня инвестиций)
access n – доступ
access v – иметь доступ
accessible a – доступный
account n – счет
account (for) v – учитывать, приходиться на долю
accountability n – отчетность, подотчетность; расчет; ответственность
accountable a – отчетный, подотчетный
accounting n – бухгалтерский учет
accounting a – бухгалтерский
accountingconventions – учетные правила
accounting profit – учетная (бухгалтерская) прибыль
accretion n – прирост, приращение, увеличение
accrual n – начисление
accrue v – начислять
acquisition n – поглощение; приобретение
acquire v – поглощать; приобретать
