INTRO and important INFO At the beginning of our class on Friday, 2 May we were supposed to check your reading assignments and related tasks: 1. Lloyd‘s tsunami exposure limited, RB p Exchange rates, MK We worked on describing graphs in paragraphs (RB, pp 35-6, which is something you will have to do on your own. Follow the steps in the presentation below. We listened to a talk on Tobin tax (MK, p 129, which is yet another task you can do on your own (there is a script for the talk in the back of your book). Also, for better understanding read the Case study on p 130.

HW check 1.Unfortunately, very few students have read Lloyd‘s tsunami exposure limited and we could not discuss it. Please, be sure to read the text with the help of prompts included below and get ready to comment on it. 2.We have discussed Exhange rates (pgs 4&5), clarified complex ideas and phrases (whole text) and done the Vocabulary. Comprehension task still needs to be done by everyone!

HW: RB, p 68 Read: Lloyd’s tsunami exposure limited Have you spotted anything strange in the text? 2 TYPING ERRORS: taught = thought $2.00 = $2,000 Prepare to explain the heading and following expressions (from the text) in simple terms: - unscathed- property claims - limited/minimal exposure- reinsurers -penetration of insurance - insured losses -insurance spent per head - exclusions for “acts of God” - the worst on record in terms of... -softening of premium rates How do disasters affect a) insurers and b) the insured?

VOCABULARY–match unscathed reinsure penetration (of insurance) exposure property claims soft (premium) rates to share insurance between 2 or more insurance comp. insurance claims for property that has been damaged falling because supply exceeds demand (a soft insurance market) not harmed or injured the amount of money (the insurance) company risks losing MARKETING – how much of a particular market insurance sales cover

Revision: fill in the missing prepositions face risk / face a risk ____ fire insure ______ risk / burglary / theft / injury to be covered _______ loss two parties ____ an insurance contract receive money ____ premiums pay money ____ compensation penetration ___ insurance worst year ___ record big number ___ insurance terms compared ____ $ 2000 ___ head exclusions ____ “acts ___ God” an analyst ___ Numis Securities / PBZ / CNB

HW check Exchange rates, MK pp 128-9

Please, read pgs. 4 & 5 match with headings Match to create collocations used in pgs. 4&5 intervene currency reserves hedge contracts raw planning futures markets forward of the Euro export against currency fluctuations establishment materials foreign in exchange markets

Pg. 4 – Counteracting speculation Pg. 5 – Market interventions Match to create collocations used in pgs. 4&5 intervene in exchange markets reserves Hedge against currency fluctuations raw materials futures contracts forward planning export markets establishment of the Euro foreign currency Vocabulary, p 129  Comprehension

Should speculators be prevented or discouraged from trading in currencies – or should they have the right to do whatever they like with their assets? How could currency speculation be discouraged?

Listening 1: Currency flows and the Tobin Tax 1.“Hot money” is s___________ money that is invested in a c______ for a very short time, which means that it is f________ in and out of a country very q________. 2.I__________ u_________ and falling o_________. 3.Tobin Tax is a very s_____ t_____ on currency p______ and currency s_______. It is d_____ to reduce c______ s________.

Listening 1: Currency flows and the Tobin Tax – cont. 4. “Highly l_______” currency t______ is b______ or selling currency with b______ money. 5. It would probably r_____ or “d_____ down” c______ trading and c________ f________. 6. ______ makes global c________ possible.

Listening 2: Developing Africa 1. Because they won’t get a s________ r______ of return, or a p_______. 2. Africa would get a s________ social rate of r_______: better education, better economic g_____, better standards of living, longer l_______ e_________.

Describing graphs in a paragraph RB, p 35 I Read the text and fill in the gaps II Read and decide what function sentences have Read Writing tips (p 36)  Handout: 2001 ELI Enrollments HW: III Describe this graph in no more than 300 words (to be handed in on 5 or 6 May): 1 topic and time frame 2 overal situation (trends) 3 interesting points / significant changes 4 conclude