english for economics i 2014

UNIVERSITATEA DANUBIUS DIN GALAIFACULTATEA DE TIINE ECONOMICE

ENGLISH FOR ECONOMICS I

Ist Year, 1st Semester

LIVIU-MIHAIL MARINESCU

2014

Toate drepturile pentru aceast lucrare sunt rezervate autorului. Reproducerea ei integral sau fragmentar este interzis.

CONTENTS

1. Studying English for Economics. From Student to Professional-Part1Studying Economics an Essential Condition for a Future Businessman-1

Is the Study of Economics Too Hard or Too Boring?

Commercial Correspondence: Generalities upon the Elements of a Business Letter

Language Approach Part 1

Technical approach of the language.Specific Objectives of the Learning Unit

Abstract

Self-Evaluation Tests

Key to the Self-Evaluation Tests

Minimal Bibliography

2. Studying English for Economics. From Student to Professional-Part2

Studying Economics an Essential Condition for a Future Businessman - 2

From Student to Employee: Making the Transition

Commercial Correspondence: The Appreciation Letter and the Business Introduction Letter


Specific Objectives of the Learning Unit

Abstract



Control Test


3. At a Public Meeting Part 1At the Office Basics and Management

Commercial Correspondence: Confirmation Follow-up after Business Meeting



Abstract




4. At a Public Meeting Part 2

Office Management Basics



Abstract



Control Test


List of References (A Selective Bibliography):

Comunicare si Imagologie 2

English for Economics I 45INTRODUCTIONThe module titled ENGLISH FOR ECONOMICS-1, which is studied in the first semester of the first year of study, aims at obtaining specific skills pertaining to the knowledge and use of English by those working in an economic environment. After studying and learning the content of this module, you will acquire the following general skills: knowing, understanding, explaining and interpreting English texts scheming and assessing the practical activities specific to this discipline; using scientific research and approach methods, techniques and instruments. revealing a positive and responsible attitude towards the scientific domain comprising this discipline, fostering a scientific environment focused on democratic values and relationships, turning to the best account the personal potential within scientific activities, participating in the personal scientific development.

The frame objectives- I suggest you to attain are the following: acquiring solid knowledge of English grammar and vocabulary; the possibility of efficiently using English words and phrases both in written and in conversation; the significant training in view of reading, understanding and translating text belonging to the technical literature in the field at issue; mastering the use of words and syntagms specific to the domain of interest.

The content is structured according to the following learning units: Studying English for Economics. From Student to Professional-Part 1; Studying English for Economics. From Student to Professional-Part 2; At a Public Meeting Part 1; At a Public Meeting Part 2.In the first two studying units titled Studying English for Economics. From Student to Professional Part 1 and Studying English for Economics. From Student to Professional Part 2, respectively, you will acquire the following specific skills: identify the key-words in an economic text; provide a definition in English of the concepts characterised by them; identify the various types of language specific to different types of economic texts; define the elements of a commercial letter (the appreciation letter and the business introduction letter) in English.After studying the contents of these units and using the recommended bibliography, I suggest you should do the included set of exercises both for practice and self evaluation. After dealing with the essential information from these first two units, go on to the third and fourth ones , i.e. At a Public Meeting- Part 1 and At a Public Meeting- Part 2 , which are to help you acquire new amounts of knowledge and also new skills, such as the possibility to: identify the key elements of an economic text in English; define the elements of a commercial letter (confirmation letter variants) in English; translate and rephrase the economic texts presented; define and exemplify the language problems presented, and so on. In order to assess your degree of knowledge assimilation, after each chapter you will pass through a control test, which you will further receive corrected for a better understanding of your actual English performance. An efficient learning requires from you the observing of the following steps: Read the module very carefully; Use colours to mark essential information, note it on a paper or use the white space to put it down; Answer the questions and do the exercises; Imitate the final evaluation, proposing yourself a theme and dealing with it without using the written support; Compare the result with the course and explain why you have skipped over several sequences; In case you are not satisfied with your learning result, you should immediately restart the whole learning process from the very beginning. You will be administered control texts all along the studying process. You will answer all requirements in written, using the course support and the indicated extra-materials. You will be assessed according to the degree in which you succeeded in attaining the mentioned objectives. The accuracy of your doing the test, the presentation itself, and the promptness of your answer will be carefully taken into account. For further details and information do not hesitate to contact the indicated instructor.60% of the final grade derives from the continuous evaluation and 40% is based on the final assessment.

1. STUDYING ENGLISH FOR ECONOMICS. FROM STUDENT TO PROFESSIONAL PART 11.1. Studying Economics an Essential Condition for a Future Businessman 1

1.2. Is the Study of Economics Too Hard or Too Boring?

1.3. Commercial Correspondence: Generalities upon the Elements of a Business Letter

1.4. Language Approach Part 1


Abstract


Key to the Self -Evaluation Tests


Specific objectives: At the end of the chapter you will have the capacity to: identify the key-words in an economic text; provide a definition in English of the concepts characterised by them; identify the various types of language specific to different types of economic texts; define, explain and exemplify the elements of a commercial letter

Average time estimated for the individual study: 8 hours

1.1. Studying Economics an Essential Condition for a Future Businessman - 1The study of economics is important for many different types of jobs and careers within both the public and government business sectors. Students that complete a degree in economics would be qualified for upper and middle management positions within businesses and agencies. Economists are used to trace and interpret trends in the market, make effective short and long term assessments of the options and possibilities for the agency that they work for, provide risk assessments and assist in financial planning and capital investments for companies. Usually economists graduating from programs start in entry level positions and then quickly move to more advanced level placements. The basic course of study for most entry level economy programs will include courses on micro and macro-economics, investment, world politics, market assessment, risk analysis, international laws, as well as an overview of taxation and laws as they apply to money management and capital investments. Classes will also discuss ethical considerations and conflicts that can arise in businesses and agencies. Students will focus on real world examples and case studies and will be encouraged to work with information from the current markets. While the courses provide a general overview of most economic issues there are still optional or elective courses that allow the students to use various computer software programs and market analysis software that is in current use in business. While economics is a very broad course of study many students choose to complete additional levels of training and specialize in one specific area such as foreign economic policies, international business management, or corporate finance and risk assessment and analysis. Many of these students work in research facilities or for public development agencies or even as private consultants. Usually those that pursue working as private consultants have a significant amount of experience working for a corporation or government agency before branching out on their own.

Vocabulary Semantic Parallels:

Momentary vs. MomentousThese words are liable to be confused. They look rather similar, but they are completely different in meaning. Momentary means lasting for a very short time, as in there was a momentary pause and enjoy a momentary success. It is derived from the noun moment in the sense of a very brief period of time. Momentous means very important, of great significance, as in a momentous incident that led to war. It is derived from the noun moment in the sense of importance, significance, as in a meeting of moment. In momentary the emphasis is on the first syllable, while in momentous, the stress is on the second.

E.g. means "for example" and is an abbreviation of the Latin phrase exempli gratia. It is used before example of something just previously mentioned, as in "the cannot eat dainy products, e.g. milk, butter and cream".

AMONG and AMONGSTThese words are interchangeable, as in "We searched among /amongst the companies for the best offer", "Share the money bonus among/amongst you" and "you must choose among/amongst the various possibilities".

Vocabulary: COMPOUND WORDS WITH BUSINESS - PART 1 business community - mediu de afaceri; Business Cooperation Center - Centrul de Cooperare pentru afaceri; business day zi lucrtoare; business expenses - cheltuieli de reprezentare; business finance gestiune financiar a ntreprinderii.Expressions not to be the best of terms (with somebody) a nu fi n cei mai buni termeni (cu cineva); to grant a favour - a acorda o favoare; to grant a request - a admite o cerere; to put somebody on the spot - a lua pe cineva la ochi; to put somebody out of heart - a descuraja pe cineva; to gratify smb's whims (for smth) - a satisface capriciile cuiva.

Work task 1Consider the following text. Translate it Into Romanian, rephrase it in English, and build up a ten-line paragraph describing its main ideas afterwards.Why Should We Study Economics?When we first approach a science we want to know, "What does it study?" Another way of approaching the same issue is to ask, "What basic assumptions does it bring to its examination of the world?" As a first step in tackling a new subject, you usually try to gain an idea of what it is all about. Before buying a book on biology, you determine that you will be reading about living organisms. At the beginning of a chemistry course, you learn that you can expect to study the ways in which matter combines in different forms.

Many people feel that they are generally familiar with economics. However, if you ask around, you will find that people have difficulty in defining the subject. "It's the study of money," some might tell you. "It has to do with business, profit and loss, and so forth," someone else asserts. "No, it's about how society chooses to distribute wealth," another person argues. "Wrong! It's the search for mathematical patterns that describe the movement of prices," a fourth insists.The primary reason for this confusion is that economics is the youngest of the sciences known to man. Certainly there has been a proliferation of new branches of existing sciences in the several centuries since economics came to be recognized as a distinct subject. But molecular biology, for example, is a division of biology, not a brand-new science.Economics, however, is different. The existence of a distinct science of economics can be traced back to the discovery that there is a predictable regularity to the interaction of people in society, and that this regularity emerged without being planned by anyone.

1.2. Is the Study of Economics Too Hard or Too Boring? Personally, I didnt think I would ever end up studying economics at the graduate level. It sort of happened by accident. I was interested in international development and never really gave much thought to economics. As I reviewed graduate programs, I was surprised to learn what a central role economics would play in my studies. I can now, of course, appreciate how humorous this notion was -- how did I plan to study what was in essence economic development without economics?! However, I have come to really enjoy what some people call the dismal science and appreciate how it has helped train my mind to think through any number of issues. I tell my class that thinking like an economist is not about being able to interpret charts and graphs -fortunately for them. Rather, its about being able to use some imperfect tools to weigh an issues costs versus its benefits in order to make informed decisions be it about the minimum wage, the value of public parks, subsidized lending, or personal financial decisions. And to be frank, I have actually come to the opinion that its critical for our students to walk out of college with this knowledge.But why are students ignoring or avoiding this crucial field of study? I recently read an interesting piece in the Journal of Economic Education called The Overconfident Principles of Economics Student.... It discussed research comparing what students thought they knew before an exam with how they actually performed on the exam. The research showed that many more students felt they knew the material than really did and thus felt disappointment after they received a lower-than-expected grade. The researcher, Paul Grimes, suggests that such disappointment at this introductory level could be a reason why more students dont explore economics as a major. Grimes states:For years, academic economists have lamented their courses reputations and their relative inability to attract and maintain majors. The experiment results suggest that the dissatisfaction students often express about their introductory economics courses may be rooted in overconfidence and unmet performance expectations. / academic economists should begin to ask themselves if the traditional talk and chalk (Becker and Watts 1996) approach still used in the typical large principles class contributes to overconfidence and unmet expectations. In classes that rely heavily on lectures, students are not actively involved and do not receive significant amounts of instructional feedback concerning the state of their understanding and mastery of material. As Grimes notes, maybe we need to revisit how introductory economics is taught. The irony is that we teach the importance of expectations in economics, yet our existing teaching models often leave students unable to reliably predict how they will perform when their knowledge is tested. Economics does not have to be extremely hard, or for that matter boring, but perhaps are current teaching models are both what do you think?

FURTHER READING TEXTUAL APPROACH ECONOMIC SYSTEMS The people and the institutions that combine together to convert resources into finished products collectively form the economic system or economy. The nature of the modern economy is fairly complex and no two economies are exactly similar. Nevertheless, it is useful to identify three different kinds of economic system: the market economy, the centralized or command economy and the mixed economy. In general terms, a market is any means of bringing people together to buy and sell goods. Two conditions are necessary for goods or services to be produced in this economy. First, there must be a demand for the goods - there must be people willing and able to buy them at prevailing prices. Second, producers must be able to sell their goods at a profit. In the market economy, the combination of consumers seeking the best value for money and producers seeking efficient production determines the use of resources. Some systems do not trust the market mechanisms, and in extreme cases they abandon them altogether. Although the motive for this may be mainly political, there are clear economic implications. Instead of the market determining what is produced, decisions are taken by the Government. This is because a Government is likely to have priorities different from those of individuals. This kind of economy does have the important disadvantages of needing a large number of administrators to make decisions. What has happened in practice is that most economies have developed as a mixture between the market economy and the centralized economy. The balance between the market economy and the Government's control of the economy will vary from country to country, the degree of Government involvement depending on the political objectives of the Government itself.

THE ECONOMIST AND SOCIETY

Economics is concerned with the ways in which various scarce economic resources are converted into goods and services required within the community. There are several ways in which an economist might deal with the processes that are within an economy. For example, (s)he might simply observe what is going on and record it. When investigating the operation of a economy, the economist is dealing with people and they are not only different, they are unpredictable; (s)he cannot gather them together in a laboratory, eliminate friction, gravity as idiosyncrasy, make assertions about the effects of the various economic policies. What (s)he can do is to examine society as it is, study its reactions to past experiments in economic policies, and on this basis, try to forecast its response to new policy initiatives. (S)he may be assisted by the construction of economic models, designed to highlight certain aspects of economic life. An economic model is really a mathematical representation of an economy (or part of an economy) which enables the relationship between certain causes and effects to be examined. It is important to be clear about what use the models have. They do not tell us what should be done; their purpose is to predict the consequences of certain courses of action. For example, the Government might wish to reduce tax revenue by a billion pounds. This might be achieved in a number of ways; a reduction in the basic rate of income tax, a reduction in the higher rate of income tax, a decrease in value added tax or excise duties or a combination of these. The Treasure has a model of the economy and each of these projected changes can be into it so that the likely consequences of each can be assessed. It is then a political decision as to which course of action is taken; it is not a matter of a unique answer to a problem. The economist can point out the likely effects; the politician must balance advantages against disadvantages before deciding on which course of action to take.

Vocabulary:COMPOUND WORDS WITH BUSINESS - PART 2 business law - drept commercial; business premises - sediu al firmei; business tax - tax comercial; business travel - cltorie de afaceri.

Expressions to go wild with anger - a nnebuni de furie; to put up to auction - a scoate la licitaie; to raise a claim - a revendica un drept, a ridica o pretenie; to wind up one's affaires - a-i ncheia cuvntarea; not to be in the humor for work - a nu avea chef de lucru; not to be in the mood for smth - a nu fi cu chef de ceva; not to be long (in) coming - a nu zbovi mult / a nu se lsa ateptat; not to be long (in) doing smth - a nu-i trebui mult (timp) pn s fac ceva; to gratify smb's curiosity - a satisface curiozitatea cuiva; to lose the run of smth - a pierde irul (ex zilelor) i.e. (a pierde noiunea timpului).

Work task 22.1. Draw up a paragraph about five lines describing your own opinion concerning the learning unit.

2.2. Translate the following text in Romanian:Business forecasting has always been one component of running an enterprise. However, forecasting traditionally was based less on concrete and comprehensive data than on face-to-face meetings and common sense. In recent years, business forecasting has developed into a much more scientific endeavor, with a host of theories, methods, and techniques designed for forecasting certain types of data. The development of information technologies and the Internet propelled this development into overdrive, as companies not only adopted such technologies into their business practices, but into forecasting schemes as well. In the 2000s, projecting the optimal levels of goods to buy or products to produce involved sophisticated software and electronic networks that incorporate mounds of data and advanced mathematical algorithms tailored to a company's particular market conditions and line of business.Business forecasting involves a wide range of tools, including simple electronic spreadsheets, enterprise resource planning (ERP) and electronic data interchange (EDI) networks, advanced supply chain management systems, and other Web-enabled technologies. The practice attempts to pinpoint key factors in business production and extrapolate from given data sets to produce accurate projections for future costs, revenues, and opportunities. This normally is done with an eye toward adjusting current and near-future business practices to take maximum advantage of expectations.In the Internet age, the field of business forecasting was propelled by three interrelated phenomena. First, the Internet provided a new series of tools to aid the science of business forecasting. Second, business forecasting had to take the Internet itself into account in trying to construct viable models and make predictions. Finally, the Internet fostered vastly accelerated transformations in all areas of business that made the job of business forecasters that much more exacting. As the Internet and its myriad functions highlighted the central importance of information in economic activity, more and more companies came to recognize the value, and often the necessity, of business forecasting techniques and systems.Business forecasting is indeed big business, with companies investing tremendous resources in systems, time, and employees aimed at bringing useful projections into the planning process.

1.3. Commercial Correspondence: Generalities upon the Elements of a Business Letter1.3.1. The headingThe heading is also the return address to which the recipient will refer when sending a response. The writer's name is not included in the heading, as it is appears in the complimentary close at the end of the letter. It should include only the street, city, state and zip code of the letter writer. Identifying words such as Avenue, Circle, Court, Drive, and Street should be spelled out rather than abbreviated. Doing so reduces the chances of a response being sent to an incorrect address. The date a letter is written should be placed below the writer's return address information. It is the final component in the heading of a business letter.1.3.2. The inside address (the recipient address)The inside address contains the mailing information belonging to the recipient and should be justified to the left margin of the letter and placed two spaces below the date (for very short letters four spaces is acceptable). As in the heading, the inside address includes the street, city, state and zip code of the recipient, all of which should be placed below the name of the business or organization to whom the letter is being written. Identifying words such as Avenue, Circle, Court, Drive, and Street should be spelled out rather than abbreviated. When the recipient' name, title and position are known, they should be included as the first two lines in the inside address and placed directly above the name of the business or organization. 1.3.3. The salutationThe salutation is a greeting. Its placement belongs two spaces below the inside address and always justified to the left margin of the letter. It should include the title and full name of the recipient, followed by a colon. Customarily the salutation begins with Dear, followed by a title such as Mr., Ms., Mrs., however, when the writer is on a first name basis with the recipient, that formality can be dropped in favor of a first name. The titles Mr., Ms., Mrs., and Dr. are always abbreviated. Other titles, such as Professor and Senator are never abbreviated. Regardless of marital status women should always be addressed as Ms.-the only exception being when the recipient has personally expressed a desire to be addressed otherwise (Miss or Mrs.). Avoid gender-based salutations when it is not known if the recipient is a man or a woman. Dear Student: Dear Customer: Dear Resident: etc. are perfectly acceptable options for gender-neutral correspondence.An impersonal device may be preferable when addressing a letter to a large organization where the recipient's name is not likely to be known. For example, Attention: Accounts Receivable or Subject: Billing Error may replace more familiar forms of greeting.The salutation, To Whom It May Concern: is very out of date-very 20th Century. 1.3.4. The bodyBegin the body of a business letter two spaces below the salutation or attention-getting device. Each paragraph should be single-spaced and justified to the left margin of the page with a double space separating each paragraph. It is acceptable to double space the text of a letter when the body is very short. This is done purely for cosmetic reasons, giving the letter a more visually balanced appearance on the page. In such instances it is appropriate to indent the first line of each paragraph.1.3.5. The complementary closeThe complimentary close is placed two spaces below the last line of a letter's body.Customary expressions used to close a formal business letter include Thank you, Sincerely, Sincerely yours, and Yours truly. Less formal expressions such as Regards, Best regards, and Best wishes should be used only when the writer is addressing a business associate that is also a friend.When the expression contains two words, such as Thank you, only the first word receives an initial upper case letterA comma follows all forms of a complimentary close.Allow four spaces between the complimentary close and the typed version of the writer's full name. The space between is reserved for a handwritten signature. The writer's job position or title should appear directly below his or her name. The writer's signature should be identical to the printed version except in those situations where the recipient is also a friend, in which case a first name only is fine.1.3.6. The additional notationA number of situations call for a business letter to be marked with notations signifying those situations. These notations should be placed two spaces below the position or title line following the writer's printed signature. When a letter references one or more documents that are enclosed by the writer for the recipient, the enclosure is noted in one of the following ways: Enclosure: Wholesale Pricing Packet; Enclosures (5); Enc. (Encs.).When a letter has been dictated to an assistant it should be initialled. Both writer and assistant are acknowledged with their personal initials. The writer's will appear in uppercase letters and the assistant's will appear in lowercase letters in one of the following ways: EIB: pjc; IMK/pjc.When copies of a letter are sent to named business associates or other interested parties, the copy recipients are acknowledged with their full name as in the following example.cc: Ms. Annie Getzcc: Mr. Glenn Widget, Ms. Ida Mae Knott

The Basics of a Good Business LetterIt is very easy to learn the basics of good business letter in writing form.The following chapter provides the phrases that are usually found in any standard business letter. These kind of phrases are used as an introduction to the content of business letters and represents the structural frame. A difficult part of writing successful business letters is, in fact, the way of considering ones business objective. By using these types of standard phrases, you can give a professional tone to your English business letters. Once you understand these basics you can use this frame to different types of business letters and refine your skills so as to meet your business needs of your employers or business partners.

The Start of the Letter

Dear Sir or Madam: (use if you don't know who you are writing to)Dear Mr.or Mrs. Director, (use if don't know hisor her name but you are aware of his or her title)Dear Dr, Mr, Mrs, Miss or Ms X: (use if you know who you are writing to, and have a formal relationship with )Dear Michael: (use if the person is a close business contact or a friend)

The ReferenceWith reference to your previous approach, Example :your letter of 1st of May, your phone call today, your visit onThank you for your letter of May the 1st .

The Reason for WritingI am writing to inquire about I am writing to confirm my presence at

RequestingI would be grateful if you couldPlease be so kind to communicate Could you possibly?

Agreeing to RequestsI would be delighted toYou will find our agreement in attachment of

Giving Good NewsI am happy to announce you the success of our joint venture in presenting the project in Giving Bad NewsUnfortunatelyI am afraid that

Enclosing Please find enclosedI am enclosingEnclosed you will find

Closing Thank you for your help Please contact us again if we can help in any wayIn case you have any questions do not hesitate to

Reference to Future ContactI look forward to ...Looking forward for a future collaboration ,Hearing from you soonMeeting you next TuesdaySeeing you next Thursday

The Finish or Complementary CloseYours faithfully, (If you don't know the name of the person you're writing to)Yours sincerely, (If you know the name of the person you're writing to)Best regards, (If the person is a close business contact or friend)Best wishes,

Sample Letter

We will expose to your attention, starting from one single example, a group of twenty-one letters expressing the affirmative or negative reaction to a previous request .The main issue is represented by a visit to a conference meeting in Rome. In a previous correspondence, one of the partners invited the other one, offering his help for accommodation. He also had a telephone conversation with him asking for a confirmation.

Villa Nova Orsini36, Via Victrix ,Rome, ItalyTel:..Fax:..Email:.

May the 1st 2011

To: Mr.Michele Marino Phd,General Manager Rome BranchLanguage Inc.Rome, Italy Ref: Your letter of invitation of 25th of April 2011

Dear Mr. Marino,

With reference to your previous correspondence as well as to our telephone conversation today, I am writing to confirm you my presence at the meeting on 12th of May in your headquarters in Rome.Thank you for your kind approach of you previous letter dated 25th of April, but all the travel arrangements are already made.Looking forward our meetingWe remain,

Yours sincerely,

Robert St. Lancia Phd.


May the 1st 2011


Dear Mr. Marino,

With reference to our telephone conversation today, I am writing to confirm with regret, due to unfortunate circumstances, my absence at the meeting on 12th of May in your headquarters in Rome. Thank you for your kind approach, but all the travel arrangements were already canceled.

Looking forward for future meetings,

We remain,

Yours sincerely,



May the 1st 2011


Dear Mr. Marino,

With reference to our telephone conversation today, I am writing to confirm, due to fortunate circumstances, my presence at the meeting on 12th of May in your headquarters in Rome. Thank you for your kind approach, but all the travel arrangements were already solved.It is my pleasure to profit of this occasion to invite you as well on 14th of May at the annual meeting of my Club at Villa Borghese. You will find all the necessary details enclosed to my letter.Looking forward our meeting,

We remain,

Yours sincerely,

Robert St. Lancia Phd.Encl:1page


May the 1st 2011


Dear Mr. Marino,

With reference to our telephone conversation today, I am writing to confirm my presence at the meeting on 12th of May in your headquarters in Rome. Thank you for your kind approach, but all the travel arrangements were already solved.Due to fortunate circumstances, it is my pleasure to profit of this occasion to invite you as well on 14th of May at the first annual meeting of my Club at Villa Borghese. You will find all the necessary details enclosed to my letter.

Looking forward our meeting,

We remain,

Yours sincerely,

Robert St. Lancia Phd.Encl:1page


May the 1st 2011


Dear Mr. Marino,Following your invitation of 25th of April 2011, I am writing to confirm my presence at the meeting on 12th of May in your headquarters in Rome. Due to unfortunate circumstances, the visit of my colleague Mr. Frank Smith is cancelled.He is no longer a member of our company. Looking forward our meeting,

We remain,

Yours sincerely,



May the 1st 2011


Dear Mr. Marino,It is a true pleasure to confirm my presence at the meeting on 12th of May in your headquarters in Rome.Looking forward our meeting, we remain,

Yours sincerely,



May the 1st 2011


Dear Mr. Marino,

It is a true pleasure to confirm my presence at the meeting on 12th of May in your office in Rome.Regarding the accommodation, your generous offer is considered a good start for our future discussion.

Looking forward our meeting, we remain,

Yours sincerely,



May the 1st 2011


Dear Mr. Marino,

It is a true pleasure to confirm my presence at the meeting on 12th of May in your headquarters in Rome.My assistant will contact yours to discuss all the arrangements regarding accommodation and schedule.


Yours sincerely,



May the 1st 2011


Dear Mr. Marino,

Thank you again for your kind invitation.My assistant will contact yours to discuss all the arrangements regarding accommodation and schedule.


Yours faithfully,



May the 1st 2011


Dear Mr. Marino,

Thank you for the kindness of your invitation. The truth is our company is always in position to communicate abroad in order to establish further contacts and further business opportunities.We will discuss the details the week prior the meetingLooking forward our encounter, we remain,

Yours sincerely,



May the 1st 2011


Dear Mr. Marino,

Our previous telephone meeting was decisive for the near future, and as president of our company I consider your invitation a true sign of business engagement.The project you will propose at our first meeting in Rome will constitute the foundation for the next years in our joint venture.My assistant will contact yours to discuss all the arrangements regarding accommodation and schedule.


Yours sincerely,



May the 1st 2011


Dear Mr. Marino,

With reference to your previous correspondence as well as to our telephone conversation today, I am writing to confirm you my presence at the meeting on 12th of May in your headquarters in Rome. I was expecting you here, but fortunately, your contacts were more favorable to our interest in Rome then elsewhere.Thank you for your kind approach of you previous letter dated 25th of April, but all the travel arrangements are already made. My assistant will contact yours to discuss all the arrangements regarding the schedule.


Yours sincerely,



May the 1st 2011


Dear Mr. Marino,

With reference to your previous correspondence, I am writing to confirm you my presence at the meeting on 12th of May in your office in Rome. I was expecting a much larger time period of time to conclude our arrangements, but fortunately the business is working and I hope in a future development with larger connections on the European and American market. Thank you for your kind approach of you previous letter dated 25th of April. My assistant will contact yours to discuss everything regarding travel arrangements, accommodation and schedule.Looking forward our meeting, we remain,

Yours sincerely,



May the 1st 2011


Dear Mr. Marino,

Further to our previous correspondence, I am writing to confirm you my visit at office in Rome for the meeting established on 12th of May in your. I am certainly expecting a much larger time period of time to conclude our arrangements, but fortunately we will sign the papers in one of the greatest cities of the World. Thank you for your kind approach of you previous letter dated 25th of April. My assistant will contact yours to discuss everything regarding travel arrangements, accommodation and schedule.Looking forward our meeting, we remain,

Yours sincerely,



May the 1st 2011


Dear Mr. Marino,

With reference to your previous correspondence, I am writing to confirm you my presence at the meeting on 12th of May in your office in Rome. I was expecting a much larger time period of time to conclude our arrangements, but fortunately the business is working and I hope in a future development .Thank you for your kind approach of you previous letter dated 25th of April but I will be in Italy for more than a month starting this very evening and I will be in Rome precisely in the morning of the encounter.I will be very glad to be your host as well in my hunting trip in Le Marche after 13th of May 2011. My sources confirmed already your passion for this noble sport.My assistant will contact yours to discuss everything regarding travel arrangements, accommodation and schedule.Looking forward our meeting, we remain,

Yours sincerely,



May the 1st 2011


Dear Mr. Marino,

With reference to your previous correspondence, I am writing to confirm you my presence at the meeting on 12th of May in your office in Rome. I was expecting a much larger time period of time to conclude our arrangements, but fortunately the business is working and I hope in a future development with larger connections on the European and American market. I will invite you as well to visit our factories in Romania and Tunis (you already visit our plant in Taranto).Thank you for your kind approach of you previous letter dated 25th of April. I will be very glad to join you in Tuscany after our meeting.My assistant will contact yours to discuss everything regarding travel arrangements, accommodation and schedule.Looking forward our meeting, we remain,

Yours sincerely,



May the 1st 2011


Dear Mr. Marino,

With reference to your previous correspondence, I am writing to confirm you my presence at the meeting on 12th of May in your office in Rome. I was expecting a much larger time period of time to conclude our arrangements, but fortunately the business is working and I hope in a future development with larger connections on the European and American market. Thank you for your kind approach of you previous letter dated 25th of April. My assistant will contact yours to discuss everything regarding travel arrangements, accommodation and schedule.Looking forward our meeting, we remain,

Yours sincerely,



May the 1st 2011


Dear Mr. Marino,It is a true pleasure to confirm my presence at the meeting on 12th of May in your headquarters in Rome.Please find here enclosed our invitation as well to my family proprieties in Romania.You will find the enormous resemblance regarding some characteristics of our two countries. I hope you will find the date convenient as well, taking into consideration the opening of the hunting season.My assistant will contact yours to discuss everything regarding travel arrangements, accommodation and schedule.


Yours sincerely,



May the 1st 2011


Dear Mr. Marino,

Further to our previous discussion regarding the matter I tried to take into consideration all the strengths and opportunities of our possible future joint venture. It is a true pleasure to confirm my presence at the meeting on 12th of May in your headquarters in Rome.Please find here enclosed my confirmation as well to your family proprieties in Tuscany.My assistant will contact yours to discuss everything regarding travel arrangements, accommodation and schedule.


Yours sincerely,


Vocabulary: PIATA - MARKET piaa manipulatoare - false market; piaa monetar - money market; piaa monopolizatoare - money trust; piaa restrns - narrow market; piaa secundar - secondary market; piaa de schimb - (foreign) exchange market.

EURO - EURO Eurobon euronote; Eurocard eurocard; Eurocec eurochecque; Eurocredit eurocredit; Eurodepozit eurodeposit; Eurodolar eurodollar; Eurohrtii comerciale - eurocommercial papers; Euroopiune eurooption; Europia euromarket; Europia de capitaluri - eurocapital market; Europia monetar - euromoney market; Eurovalute Eurocurrencies.

PRET - PRICE preul energiei - energy cost; pre cerut - asking price; pre competitiv - competitive price; pre convenit - agreed price; pre correct - true & fair price; pre de acceptare - acceptance price; pre de achiziie - historical cost; pre de cerere - demand price; pre de factur - invoice price; pre de ncepere a licitaiei - opening bid; pre de livrare - delivered price; pre de ofert - tender price; pre de prob - probate price; pre de rambursare - redemption price; pre de rscumprare - repurchase price; pre de referin - shadow price; pre de vnzare - sale / selling price; pre en detail - retail price; pre en gros - wholesale price; pre net - net price; pre unitar - unit price.

SAMPLE OF INTERNATIONAL SALES CONTRACT

CONTRACT BETWEEN,

.............................................., WITH REGISTERED OFFICE AT: ..............................................., REPRESENTED BY (HEREAFTER REFERRED TO AS THE SELLER), AND ...................................., WITH REGISTERED OFFICE AT..............................................., REPRESENTED BY .. (HEREAFTER REFERRED TO AS THE BUYER).Both parties declare an interest in the sale and purchase of goods under the present contract and undertake to observe the following agreement:

Article 1 - Products

Under the present contract, the Seller undertakes to provide, and the Buyer to purchase:

[Alternative A]: the following Products and quantities ........................................

[Alternative B]: the Products and quantities as set out in Annex 1 of the present contract.

Article 2 - Price The total price of the Products which the Buyer undertakes to pay the Seller shall be .................... (figure in numbers and letters). The aforementioned price:[Alternative A]: is the sum total of the prices of all Products and quantities as set out in Article 1.[Alternative B]: is the sum total of the prices of all Products and quantities as set out in Annex 1.Both parties undertake to renegotiate the agreed price when affected by significant changes in the international market, or by political, economic or social situations in the country of dispatch or destination of the Product, which may damage the interests of either party.

Article 3 - Delivery conditions The Seller shall deliver the Products to ................... (mention the place: warehouse, port, airport, etc.), ..................... (city and country), under conditions: ..................... (INCOTERMS). The goods shall be delivered at the agreed place, and to the transport agent designated by the Buyer, at least twenty-four hours before the deadline established in the present contract. Should the Buyer fail to take charge of the goods on arrival, the Seller shall be entitled to demand the fulfilment of the contract and payment of the agreed price.

Article 4 - Packaging The Seller undertakes to deliver the Products hereunder, suitably wrapped and packaged for their specific characteristics and for the conditions of transport to be used.

Article 5 - Means of paymentThe Buyer undertakes to pay the total price which appears in the present contract. Payment of said price shall be effected by:[Alternative A]: cash, cheque or bank transfer to the account and bank branch designated by the Vendor.

[Alternative B]: bill of exchange or direct debit to the account and bank branch designated by the Vendor.[Alternative C]: irrevocable and guaranteed letter of credit payable to the account and bank branch designated by the Vendor.Article 6 - Date of paymentThe price shall be paid on the following terms:[Alternative A]: .......... %, being ..................... (write in letters), on signing the present contract; and the rest, being .................... (write in letters), on delivery of the goods.[Alternative B]: .......... %, being ..................... (write in letters), on submitting documents of property to the transport agent designated by the Buyer; and the rest, being .................... (write in letters), within .......... calendar days of receipt of the goods by the Buyer.[Alternative C]: within .......... calendar days of receipt of the goods by the Buyer.Article 7 - Delivery period The Seller undertakes to deliver the goods within .......... calendar days of receipt of:[Alternative A]: the signing of the present contract.

Business Letters Samples for Further Study:

Applying for a job

Dear Mr. Jones:Recently, I completed a cooperative experience with an engineering firm in Northern California where I was given the responsibility of managing a small project. I am looking for the opportunity to perform in this capacity for G.E. Engineering. I believe my background and experience will help me be an asset to your company in a very short time.I have conducted survey and mapping assignments, participated in soil mechanics and foundation formation, and performed preliminary structural analysis and design for a grocery store. I was given the responsibility of producing a general lay-out for a new transportation system. I first surveyed the area, produced a traffic analysis and survey, researched city rules and regulations for compliance, and wrote a twenty-five page report depicting the feasibility of building a new freeway off-ramp. My mathematical skills are excellent and I am very conscientious about meeting deadlines and completing tasks unsupervised. If given the opportunity to accomplish an assignment, I can develop a plan that will meet the needs of the project.I am very interested in becoming a part of this project after reading your company brochure and an article in the Civil Engineering Journal about your companys involvement in building a new mall in the area. I can be reached at the address and phone number below. Ill be calling your office within ten days to inquire on the status of my application. I look forward to hearing from you.Applying for a job as a accountant

Dear Ms. Rider:The World Review Newspaper is currently running your ad for a Junior Accountant to service a small accounting department within Gottschalks. You will find my background and experience directly applicable to your accounting needs and I have enclosed my resume for your review.Over the years, I have developed and completed three (3) internships in accounting departments in Northern and Southern California. In the last internship, I developed an efficient accounting information system for a small manufacturer. In order to develop this system, I performed a cost analysis and constructed a budget using an IBM Mainframe and Macintosh Personal Computer. In my first internship, I performed all aspects of a major audit under extremely short deadlines. Basic accounting principles come easy to me and I am extremely accurate in all my transactions.Please contact me at the address and phone number below. I look forward to hearing from you. I am geographically mobile and am willing to begin employment immediately.Thank you for your consideration.

Work task 3Use the elements above to build up a short business letter (ten sentences).

1.4. Language Approach Part 11.4.1. The Present Tense Simple The simple present is used to describe an action, an event, or condition that is occurring in the present, at the moment of speaking or writing. The simple present is used when the precise beginning or ending of a present action, event, or condition is unknown or is unimportant to the meaning of the sentence.Each sentence below describes an action taking place in the present - verbs are in the simple present tense: Deborah waits patiently while Bridget books the tickets. The shelf holds three books and a vase of flowers. The crowd moves across the field in an attempt to see the rock star get into her helicopter. The Stephens sisters are both very talented; Virginia writes and Vanessa paints. Ross annoys Walter by turning pages too quickly.The simple present is used to express general truths such as scientific fact, as in the following sentences: Rectangles have four sides. Canada Day takes place on July 1, the anniversary of the signing of the British North America Act. The moon circles the earth once every 28 days. Calcium is important to the formation of strong bones.The simple present is used to indicate a habitual action, event, or condition, as in the following sentences: Leonard goes to The Jumping Horse Tavern every Thursday evening. My grandmother sends me new mittens each spring. In fairy tales, things happen in threes. We never finish jigsaw puzzles because the cat always eats some of the pieces. Jesse polishes the menorah on Wednesdays.The simple present is also used when writing about works of art, as in the following sentences: LollyWillowes is the protagonist of the novel Townsend published in 1926. One of Artemisia Gentleschi's best known paintings represents Judith's beheading of Holofernes. The Lady of Shallot weaves a tapestry while watching the passers-by in her mirror. Lear rages against the silence of Cordelia and only belatedly realizes that she, not her more vocal sisters, loves him. The play ends with an epilogue spoken by the fool.The simple present can also be used to refer to a future event when used in conjunction with an adverb or adverbial phrase, as in the following sentences: The doors open in 10 minutes. The premier arrives on Tuesday. Classes end next week. The publisher distributes the galley proofs next Wednesday. The lunar eclipses begins in exactly 43 minutes.

Three Word Verbs or Double-Preposition Verbs

'Come in for' means to receive. This is usually used with words such as 'criticism' 'abuse' 'blame'. He came in for a lot of criticism for his actions. She came in for a lot of abuse when she tried to argue with them

'Go in for' can be used with words such as 'competition' to mean 'enter'. I went in for a Scrabble tournament at my club and I won. She was a good athlete when she was younger and went in for the trials for the Olympic team

'Sit in on' can be used with words such as 'conference' or 'meeting' to indicate that you attend as an observer and not as a regular participant. I've asked John to sit in on this meeting as he knows more about these people than we do. I'd like you to sit in on the negotiations with the unions as part of your training

'Stand in for' is used to mean 'substitute for'. Harry is ill so I'm going to stand in for him and make the presentation. Wendy is on vacation and I'm standing in for her

If you 'go along with' existing plans, opinions or decisions you accept them and don't try to change them. I go along with your ideas about increasing our marketing in China. You agreed to go along with our decision

If you 'listen out for' something, you keep alert and make an effort to hear it. I'm expecting him to call so listen out for the phone ringing. Listen out for their car. They should be here soon

If you 'cash in on' a situation, you take advantage of it, often unfairly. He cashed in on my absence with flu to contact my customers directly. We need to cash in on the emerging markets in Asia

If you 'drop in on' somebody, you make an informal, unarranged visit to see them. I dropped in on Martin when I was visiting Sidcup. Drop in on me any time you are in town.

Technical approach of the language1st ApproachVOWELS, DIPHTONGS, TRIPHTONGSI. VOWELS A BSYMBOLKEY WORDS + COMON SPELLINGS [i:] - he, please, sheep, field, key, scene, amoeba;(a long vowel) [pli:z][i] - it, is, savage, guilt, system, women;(a short vowel) [iz][e] - desk, many, any, said, bread, bury, friend;(a short vowel) [meni][] - fat, man, bad, plaid, paugh, calf; [mn]a short vowel, which is an intermediary sound between [1] and [e][a:]- are, aren't, father, calm, brother; [a:nt](a long vowel)[o:]- tall, all, caught, ball, board, draw, four, floor; [o:l](a long vowel)[o] - hot, office, pot, waich, laurel; ['ofis](a short vowel) [u:]-goose, boot, who, more, shoe, group, flew, blue, rude; [bu:t](a long vowel)[u]-god, book, put, wood, wolf, could;[buk](a short vowel) []/ [a]-glove, but, cut, some, blood, does; [bt](a short vowel) [:] - girl, bird, burn, fern, warm, earn, journal: [b:d](a long vowel)[]-a, an, and, cupboard, the, coour, actor [nd](a short vowel)

II. DIPHTONGS (i.e. two vowols pronunced together)SYMBOLSPELLINGS[ei]-table, lady, make, pray, prey, steak, vein, gauge;[leidi][u]/[ou]-open, only, note, soap, soul, grow, sew, toe;[ounli][ai]-I, my, bite, pie, buy, try, guide, sigh; [mai][au]-house, brown, nouw, spout, plought; [braun][oi]-boy, toy, poison, lawyer; [toi][i]-here, near, beer, weir, appear, fierce;[ni][ea]-Mary, pair, there, hair, bear, bare, their, prayer;[pea][u]-poor, tourist, tour, sure[turist]

III. TRIPHTONGS (i.e. three vowels pronunced together)SYMBOLSPELLINGS[eia]-player ['pleia][ua]-lower [lua][ai]-fire ['fai][au]- flower ['flau][oi]- employer [im'ploi] 2nd ApproachI. SEMIVOWELSSYMBOLSPELLINGS[w]-we, what [wot], one, when, queen;[j]-you, yes [jes], onion, use, new, Europe.

II. CONSONANTSA.B.SYMBOLKEY WORDS + COMMON SPELLINGS1) [p]pencil ['pens'], pen, happy;2) [b]blackboard ['blkb):d], bright, back, rubber;3) [t]too [tu:], two, tea, butter, walket, doubt;4) [d]door [d):], day, ladder, called, could;5) [k]classroom ['klassroom], key, cool, coccer, lock, school;6) [g]green [gri:n], get, bigger, ghost, grey, gap, garden;7) [f]four [f):], figure, fast, fashion, fat, coffee, cough, half;8) [v]very ['veri], navy, view, navvy (i.e. excavating machine);9) [m]map [mp], hammer, calm, bomb;10) [n]new [nju:], funny, know, gnaw;11) []morning ['m):ni], sung, sink;12) [l]lesson ['lesn], balloon, battle;13) []three [ri:], thing, think, thin;14) []this [jis], that, these, those, with, then, than;15) [s]student ['stju-d(a)nt], city, psychology, mess, scene;16) [z]zero ['ziarou], was, dazzle, example;17) []she [i:], fichins, sure, station, tension, vicious, chevron;18) [3]measure ['me3a], leasure, vision, rouge;19) [t]chair [tea], match, nature, question, cello;20) [d3]john [d3)n], age, edge, soldier, gradual;21) [r]red [red], marry, wriggle;22) [h]hew [hau], hot, whole, who;23) [x]loch [lox].

III. THE ENGLISH ALPHABETa [ei]b [bi:]c [si:]d [di:]e [i:]f [ef]g [d3i:]h [eit]i [ai]j [d3ei] k [kei]l [el]m [em]n [en]o [ou]p [pi]q [kju:]r [a:]s [es]t [ti:]u [ju:]v [vi:]w ['dblju:]x [eks]y [wai]z [zed]

AbstractThe study of economics is important for many different types of jobs and careers within both the public and government business sectors. Students that complete a degree in economics would be qualified for upper and middle management positions within businesses and agencies. Economists are used to trace and interpret trends in the market, make effective short and long term assessments of the options and possibilities for the agency that they work for, provide risk assessments and assist in financial planning and capital investments for companies. Usually economists graduating from programs start in entry level positions and then quickly move to more advanced level placements. The simple present is used to describe an action, an event, or condition that is occurring in the present, at the moment of speaking or writing. The simple present is used when the precise beginning or ending of a present action, event, or condition is unknown or is unimportant to the meaning of the sentence.

Self-Evaluation Tests Learning Unit 11. Find the correct Present Tense Form:Compaq .......... computers. a) is making;b) makes;c) does.

2. Find the correct Present Tense Form:H.P. .......... a new advanced type of printer. a) is developing;b) develops;c) is taking.

3. Find the correct Present Tense Form:The yen .......... against the dollar. a) is flying;b) flies;c) is falling.

4. Find the correct Present Tense Form:The dollar .......... at 1.8 to the pound. a) is growing;b) grows;c) stands.

5. Find the correct Present Tense Form:I guess we .......... a market share of about 20% a) are having;b) have;c) are in charge of.

Key to the Self -Evaluation Tests 1. b; 2. a; 3. c; 4. c; 5. b.

Minimal Bibliography:Alexander, L.G. (1994). Longman Advanced Grammar. London: Longman.Brooks, Michael; David Horner (1991). English for the Business World. Paris: Edition Belin.Ciuciuc, Olea; Tnsescu, Eugenia (1998). English for Business Purposes, Essential English. Bucureti: Teora.Cotton, D.; Robbins, S. (1996). Business Class. London: Longman.

2. STUDYING ENGLISH FOR ECONOMICS. FROM STUDENT TO PROFESSIONAL PART 22.1. Studying Economics an Essential Condition for a Future Businessman - 2

2.2. From Student to Employee: Making the Transition

2.3. Commercial Correspondence: The Appreciation Letter and the Business Introduction Letter

2.4. Language Approach Part 2


Abstract


Key to the Self -Evaluation Tests


Specific objectives: At the end of the chapter you will have the capacity to: identify the key-words in an economic text; provide a definition in English of the concepts characterised by them; identify the various types of language specific to different types of economic texts; define the elements of a commercial letter (the appreciation letter and the business introduction letter) in English;

Average time estimated for the individual study: 8 hours

2.1. Studying Economics an Essential Condition for a Future Businessman An economics degree provides solid preparation for a variety of business careers. In this regard economics is useful both for the method of thought it teaches, and for specific knowledge it imparts.The interest in Economics is continuously growing for a wide range of reasons: It is intellectually exciting: Economics is a field dealing with important and interesting subjects such as capitalism vs. socialism, management of inflation and unemployment, economic development of poor countries, pollution and global warming, energy policy, national defense, international trade and finance, social security, and many specific government policies such deregulation of electricity, the minimum wage, agricultural price supports, and rent control.It is a growing field of activity: Economics is a dynamic field which is constantly expanding its scope. Economics has been so successful studying its traditional subjects, that economists have invaded other areas of study and established new fields such as public choice economics (the application of economic analysis to the study of politics), law and economics (now a field in top law schools), household production theory (applying economic analysis to study household use of time, as well as marriage, divorce, child rearing) ,and bioeconomics (where economists and biologists apply economics to biology).It is a recognized science: Economics is a prestigious science. Economics is widely viewed as the top social science in the world today. There is a Nobel Prize in economics. Like physics, mathematics, chemistry, and biology, economics is highly respected as a successful academic field which operates at the highest intellectual level. It may ensure an excellent professional career: Economics is an extremely practical field, and a major in economics is excellent preparation for careers in business, government, and the law, as well as for specific areas in education, journalism, foreign service, consulting and politics. An economics degree provides solid preparation for a variety of business careers. In this regard economics is useful both for the method of thought it teaches, and for specific knowledge it imparts. The economic way of thinking is analytical, clear, concise, and rigorous. People with training in economics are good at problem solving because they learn to identify problems, to specify alternative solutions, to determine what data are relevant, and to objectively weigh costs and benefits in making decisions. In addition to acquiring a useful way of thinking, economics majors study a variety of topics which have important implications for managerial decisions. These include demand theory and estimation, production and cost theory, analysis of market structure, antitrust policy, government regulation of business, capital budgeting, inflation, unemployment, determination of interest rates, and international economics.

FURTHER READING TEXTUAL APPROACHBANKING The way in which a bank functions and is organized is determined by its objectives and by the type of economy within which it conducts its business. The main types of banks to be encountered are: central banks - which provide a country with a number of services; development banks - which exist to increase the economic growth of a country and raise the living standard of its population; commercial banks - which provide and develop services that can be sold at a price that will yield a profit. Many banks offer a combination of wholesale and retail banking. While the former provides large-scale services to companies, government agencies and other banks, the latter mainly provides smaller-scale services to the general public. Both types of banking however, have three essential functions, which are:- deposits; - payments; - credits. These three functions form the basis of the services offered by banks. They make it possible for banks to generate profits and to achieve the operating aims they have in view. Banking has become an international business due to a number of factors like: the growth of multinational companies and of international capital markets; the increasing competition existing between banks themselves; the important improvements having taken place in communications and transportation. The major banks of the world have established extensive international operations by acquiring banks in other countries, by extending their own branch network abroad and by establishing relationships with foreign banks so as to develop profitable joint operations. The operations of these major commercial banks are therefore dynamic and rapidly changing, and their organization is of a global nature.

WHY PEOPLE WORK

Early management thinkers were keen on discovering the main sources of motivating work, which finally proved to be two: one was the job as an end in itself and the other was the end towards which the means provided by the job were directed. The satisfaction offered by a job was, according to them, either intrinsic or extrinsic:1. Intrinsic satisfaction - implies deriving the satisfaction of your needs, and therefore your motivation, from the work itself. A considerable amount of behavioural research has been devoted to this particular concept. Abraham Maslow was one of the theorizers sustaining this point of view. He imagined a pyramid of needs and supported the idea that while an urge or need remains unsatisfied, it acts as a motivator, but once it has been satisfied, it ceases to motivate and the next higher need in the pyramid comes into play. The needs described by Maslow look as follows:Physiological needs (food, water, the essentials of life)Safety needs (an environment free from threat)Social needs (belonging to a group, acceptance by others)Esteem needs, self respectSelf actualization needsb) Extrinsic satisfaction - implies deriving the satisfaction of needs using work as a means to an end. Work provides us with money and money enables us to obtain satisfaction. Therefore money, not the intrinsic satisfaction of the job, is the main motivator considered by this school of thought, also known as instrumental. (Whose main representative is F.W. Taylor.)However, people are not always motivated by the same needs. Moreover, at different stages in their careers, different needs become paramount. Recent research is now looking at the process of motivation itself and is stressing the importance of the individual's own assessment of and influence over the situation.

PRICES

Since the only legitimate object of doing business is to make a decent profit, the price tag attached to various products is one of the most important components of any company's marketing strategy. In fact, product-pricing lies at the very heart of the marketing process itself. Its impact is felt in sales volume, in the product contribution to overall profits and, above all, in the strategic position the product occupies in the market place. For example, a higher price will often raise a product's profile, and a high product profile will certainly command a higher price. Yet, things aren't as simple as that because economic, as well as market forces are always at work. If this were not true, one could imagine that international competition would equalise prices all over the world. But despite all the talk about a single market, a borderless Europe and a common currency, prices do remain alarmingly elastic.The question remains: how does one put a price on things? And why similar products are so often sold at widely different prices? One reason is the fact that the price attached to a given product is just one element of the marketing mix that each company designs in its individual way. The marketing mix consists of the so-called Four P's that is manufacturing the right product, at the right price, which will then be distributed at the right place, and promoted in the right way. Of course, any company's pricing policy will take into account the value of a product, its quality, the ability of a customer to pay, the levels of sales which are required, the level of market saturation and the prices charged by the competition. But prices will be further influenced by the number of stages that make up the different channels of distribution through which products reach their buyers. A second explanation for the variation of prices is linked to the fact that most commodities, and particularly agricultural products, are usually heavily subsidised by the state. In the absence of free trade, food, for example, will tend to be cheaper in the well developed countries and outrageously expensive in the underdeveloped ones. Thirdly, one must not forget the taxes which compound the problem. By imposing wildly different rates of tax on otherwise homogeneous products or commodities like petrol, governments distort prices even further.

Vocabulary: COMMERCIAL ENGLISH ABBREVIATIONS Acct. account Attn.(for the) attention (of) B/Ebill of exchange B/Lbill of lading CCcarbon copy Cf.compare CFR.cost and freight CIFcost, insurance, freight CIPcarriage and insurance paid to C/Ncredit note c/ocare of codcash on delivery Corp.Corporation CPTcarriage paid to cwocash with order D/Adocuments against acceptance DDPdelivery duty paid DDUdelivery duty unpaid DESdelivered ex ship DNdebit note D/Pdocuments against payment enc(s)enclosure(s) EXWex works FOBfree on board FORfree on rail IncIncorporated (US) L/Cletter of credit Ltdlimited p&ppostage and packing P.P. *on behalf of PTOplease turn over REwith reference to, regarding RRPrecommended retail price SAEstamped addresses envelope VATValue Added Tax ZIP (code)zone of improved delivery (US)

SAMPLE OF GOODS SALES CONTRACT

A. Identities of the Parties

Paragraph 1. _______________________, HEREINAFTER REFERRED TO AS SELLER, AND _____________________, HEREINAFTER REFERRED TO AS BUYER, HEREBY AGREE ON THIS ____ DAY OF _______________, IN THE YEAR ____________, TO THE FOLLOWING TERMS.

Paragraph 2. SELLER, WHOSE BUSINESS ADDRESS IS _____________________, IN THE CITY OF _______________, STATE OF _________________________, IS IN THE BUSINESS OF ___________________________. BUYER, WHOSE BUSINESS ADDRESS IS ____________________, IN THE CITY OF _________________, STATE OF _________________________, IS IN THE BUSINESS OF ____________________________.

B. Description of the Goods

Paragraph 3. Seller agrees to transfer and deliver to Buyer, on or before ________________________ [date], the below-described goods:________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

C. Buyers Rights and Obligations

Paragraph 4. Buyer agrees to accept the goods and pay for them according to the terms further set out below.

Paragraph 5. Buyer agrees to pay for the goods:

0. In full upon receipt

0. In installments, as billed by Seller, and subject to the separate installment sale contract of __________________[date] between Seller and Buyer.

0. Half upon receipt, with the remainder due within 30 days of delivery.

Paragraph 6. Goods are deemed received by Buyer upon delivery to Buyers address as set forth above.

Paragraph 7. Buyer has the right to examine the goods upon receipt and has ____ days in which to notify seller of any claim for damages based on the condition, grade, quantity or quality of the goods. Such notice must specify in detail the particulars of the claim. Failure to provide such notice within the requisite time period constitutes irrevocable acceptance of the goods.

D. Sellers Obligations

Paragraph 8. Until received by Buyer, all risk of loss to the above-described goods is borne by Seller.

Paragraph 9. Seller warrants that the goods are free from any and all security interests, liens, and encumbrances.

E. Attestation

Paragraph 10. Agreed to this _____ day of _____, in the year ____________.

By: ___________________________Official Title: ____________________________

On behalf of ______________________________________, Seller

I certify that I am authorized to act and sign on behalf of Seller and that Seller is bound by my actions. ______ [initial]

By: ___________________________Official Title: ____________________________

On behalf of _____________________________________, Buyer

I certify that I am authorized to act and sign on behalf of Buyer and that Buyer is bound by my actions. ______ [initial]

Work task 1Build up a ten-line paragraph describing the main ideas in the text.

2.2. From Student to Employee: Making the TransitionYou have graduated, and you have a job! It's exciting, but it is also a bit frightening. The following tips will help you make an easier transition.Be positive...about yourself and your abilities and about your employer. But do not be a know-it-all. There may actually be a few things you have not yet learned, and there are probably valid reasons for practices that appear, at first glance, archaic.Be observant. You can learn a great deal about acceptable dress by watching what your co-workers wear. You can also learn whether the working environment is casual, with much informal visiting, or strictly professional. Consider how people communicate; is information given verbally, or are memos used? Also, what kinds of behavior are noticed, both favorably and unfavorably?Establish a good relationship with your supervisor. If in doubt, ask what he or she prefers to be called. When you are not sure of policies or procedures, ask questions. Talk about his or her expectations of you, about your duties and responsibilities, about overall goals. Try to understand his or her viewpoints and concerns. Observe your boss's priorities; for example, is a neat desk important? Be loyal; if you cannot say something positive, say nothing at all.Managers and supervisors say that they look first for competence in the people working under them. Congeniality and cooperativeness are next in importance. Supervisors want people who care about the needs of the organization and who have realistic expectations about their career progress; entry-level jobs usually have their dull moments and routine duties, and you must try to bear with them cheerfully. Self-starters who are responsible are a real asset to any organization, as are people with the ability to communicate. Keep these traits in mind, and work to improve in the areas where you may be weak.You will inevitably make some mistakes, but do not let them throw you. Remember that your supervisor believes you can do the job; otherwise you would not have been hired. And he or she wants you to succeed; the hiring process is time-consuming and expensive.

Expressions to make a profit on smth - a obine un profit de pe urma unui lucru; to pick up with smb - a face cunotin/a stabili relaii cu cineva (de obicei din ntmplare); to strive for an end - a se strdui s ating un el; to take account of smth/to take smth into account - a ine seama de ceva, a lua n considerare ceva; to take a chance - a risca, a nu-i ncerca norocul; to stop short/to stop dead - a se opri brusc; to strain the law - a fora legea/interpreta legea n mod prtinitor; to stay the course - a rezista pn la capt; to state the case - a proceda la expunerea faptelor (n tribunal); to set a trap for smb - a ntinde o curs cuiva; to score an advantage/to score a success - a nregistra un success.

Work task 2Use the expressions above to build up sentences two for each expression.

2.3. Commercial Correspondence: The Appreciation Letter and the Business Introduction Letter 2.3.1. Appreciation Letter (thanking a conference speaker)March 26, 2010

Mr. David KimberlyDirector General, Civil AviationGovernment of Seychelles10 Island View ParkwaySeychelles

Dear David,I would like to take this opportunity to express my heartfelt thanks to you for your very active participation in our recent conference in Montreal on the "future of aviation". The Chairman and Board Members have also asked me to pass on their sincere appreciation for your efforts in supporting the Institute in this important undertaking.Your skill in chairing the controversial panel on "The Role of Developing Countries in the Future of Aviation Management" was very much appreciated by those representing all sides of that extremely sensitive topic. As well, we have received numerous post-conference requests for the paper you delivered on "The Critical Issue of Cooperation Between Airlines and Airports." It appears that you may have penned a best-seller with that one!On both a professional and a personal level, I really appreciated the time that the two of us were able to spend together for fun and reflection during conference down times. I certainly learned a lot about the unique aspects of aviation operations in your part of the world (not to mention the things you taught me about the backhand on the squash court!).We are currently hard at work producing the "Compendium of Conference Proceedings" document, and we expect to be sending it out to all participants early in the new year.Again, thanks so much for your enthusiastic participation in our conference. I have no doubt that it would not have been the success that it was without your presence.Please keep in touch, and drop in and visit us whenever you are in this part of the world.

Very sincerely,Peter SmithfieldPresident and CEO

Vocabulary: IMPOZIT - LEVY, TAX (ROMANIAN ENGLISH VOCABULARY) impozit anticipat - withholding tax; impozitare n strintate - foreign taxation; impozitare la surs - tax deduction at source; impozitare la sursa a salariatului - pay as you earn; impozitare progresiv - graduated taxation / progressive taxation; impozit direct - direct tax; impozite locale - (local) rates; impozite periodice - recurrent taxes; impozit funciar - property tax/real estate tax; impozit indirect - indirect tax; impozit pe beneficii - profit tax; impozit pe capital - capital levy/taxes on capital; impozit pe cifra de afaceri - turnover tax; impozit pe circulaia mrfurilor - sales tax; impozit pe profitul acumulat - accumulated profits tax; impozit pe salarii - wages tax; impozit pe teren - land tax; impozit pe venit - income tax; impozit pe venitul din capital - capital tax.

NEGOTIATIONS VOCABULARY

Agent Person or company that acts for another and provides a specified service Agreement Arrangement between two or more people or companies Bargain price Reduced price Bedrock price Lowest possible price Commitment Engagement or undertaking; to commit oneself Compromise Each party gives up certain demands in order to reach an agreement. Condition A stipulation or requirement which must be fulfilled Contract Written agreement between two or more parties Counter-offer Offer made in response to an offer by the other party Counter-productive Having the opposite effect to that intended Deal A business transaction Discount Reduction in price Estimate Approximate calculation of the cost Facilities Equipment (e.g. parking facilities) Feasible Possible, something that can be done Figure out Find a solution; estimate the cost Know-how Practical knowledge or skill Joint Venture A way of entering a foreign market by joining with a foreign company to manufacture or market a product or service. Negotiate Discuss a business deal or contract in order to reach an agreement Point out Draw attention to something (e.g. the advantages of your proposal) Proposal Course of action, or plan, put forward for consideration; to make a proposal Quote Give an estimated price (a quotation) Range A selection of products sold by a company Rebate Reduction or discount Supply Provide customers with goods or services Supplier Person or company that supplies goods or services Tender An offer, in writing, to execute work or supply goods at a fixed price Turnkey Describes equipment ready for use or operation (e.g. plant or factory) Underestimate Make too low an estimate of something (cost, danger, difficulty) Work out Calculate (e.g. the price of something); find a solution

2.3.2. Business Introduction Letter (Introducing Yourself and/or a Service)

February 20, 2010

Ms. Margaret CampionDirector, Corporate ServicesRiviera Industries Inc.245 Dearborn Park RoadChicago, Il 60610

Dear Ms. Campion,It was a pleasure meeting you briefly at last week's Board of Trade event. It's amazing how small the world does seem sometimes, considering that we both earned our undergraduate degrees at U. of Kansas, even overlapping for one year! I suppose we were destined to eventually meet face-to-face. I was fascinated by your synopsis of the history of Riviera Industries over the past, almost half-century. Clearly, your company has a rich corporate heritage and tradition. At the same time, the company has been blessed with a continuum of leaders of foresight and imagination who had the courage to change course at key points along the way so that the company could remain competitive and continue to lead its industry. As I was mentioning to you, Final Edition Publications is a specialty publisher that focuses on corporate publications including annual reports, corporate profiles and corporate histories. We have been in business for over 15 years and during that time have grown from a two-person start-up, to a serious corporate publisher with over 100 employees. We have been contracted by over a dozen Fortune 500 companies to produce both annual and special occasion publications on their behalf. After our chat at last week's meeting, it occurred to me that with Riviera approaching its 50th anniversary, it would be the perfect occasion to produce a Corporate History to celebrate your company's first half-century. It so happens, that these are exactly the types of corporate publications that we specialize in here at Final Edition. In fact, we have produced corporate histories for a number of companies. With Riviera's 50th just around the corner, I'm sure that you have been thinking about ways to make that anniversary a special one. Accordingly, I would very much like to meet with you and show you some of the corporate work we have done, and brief you further on our services. I have a strong feeling that what we offer at Final Edition might be just the kind of thing you've been looking for to celebrate Riviera's 50th. Please feel free to call me at 745-2398 so that we can discuss this further. If I don't hear from you by the end of next week I will follow up with you and see if we can set up a meeting at your convenience. Yours truly,Raymond GaudetManager, Corporate Programs

Vocabulary:BANCA - BANK banc emitent - issuing bank; banc eitent a creditului - openind bank; banc pltitoare - paying bank; banc central - central bank; banc colectoare (ncasatoare) - collecting bank; banc de investiii - investment bank; banc naional - national bank; banc negociatoare - negotiating bank; banc universal - full service bank; Banca European de Investiii - European Investment Bank/EIB; Banca European pentru Reconstrucie i Dezvoltare - European Bank for Reconstruction & Development/EBRD; Banca Internaional de reconstrucie i Dezvoltare/BIRD - International Bank for Reconstruction & Development/IBRD; Banca Reglementrilor Internaionale/BRI - Bank for International Settlements/BIS.

2.4. Language Approach Part 12.4.1. The Noun (Definition, Number, Gender, Types)Definition: A noun is a word used to refer to people, animals, objects, substances, states, events and feelings. Nouns can be a subject or an object of a verb, can be modified by an adjective and can take an article or determiner. For example: Table; Company; The building; An associate.Nouns also denote abstract and intangible concepts. For example: economy; reliability; evolution; technology, etc.

Noun PluralsWe are going to explain some rules that will help you to form the plural forms of the nouns. The general rule is to add "-s" to the noun in singular. For example: Book Books; House Houses; Chair Chairs.When the singular noun ends in: -sh, -ch, -s, -ss, -x, -o we form their plural form by adding "-es". For example: sandwich sandwiches; brush brushes; bus buses; box boxes; potato potatoes.When the singular noun ends in "y", we change the "y" for "i" and then add "-es" to form the plural form. But do not change the "y" for "ies" to form the plural when the

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