1. English for Finance – no cause for panic David Baker BESIG Conference 2011 Saturday 19 November [Session C2]

2. Checking what the learners know English for Finance - no cause for panic David Baker 19/11/11 2

3. Some buzzwords English for Finance - no cause for panic David Baker 19/11/11 3 Tarp Naked Shorts TED Spread Break the Buck Credit Default Swap Commercial Paper Collateralized Debt Obligations Mark to Market Reverse Auction Frozen Credit Markets Source: Time Magazine

4. European Sovereign Debt Crisis What Does European Sovereign Debt Crisis Mean? A period of time in which several European countries faced the collapse of financial institutions, high government debt and rapidly rising bond yield spreads in government securities. The European sovereign debt crisis started in 2008, with the collapse of Iceland's banking system, and spread to primarily to Greece, Ireland and Portugal during 2009. The debt crisis led to a crisis of confidence for European businesses and economies. English for Finance - no cause for panic David Baker 19/11/11 4 Definition from Investopedia.com

5. European Sovereign Debt Crisis What Does European Sovereign Debt Crisis Mean? A period of time in which several European countries faced the collapse of financial institutions, high government debt and rapidly rising bond yield spreads in government securities. The European sovereign debt crisis started in 2008, with the collapse of Iceland's banking system, and spread to primarily to Greece, Ireland and Portugal during 2009. The debt crisis led to a crisis of confidence for European businesses and economies. English for Finance - no cause for panic David Baker 19/11/11 5 Definition from Investopedia.com

6. faced the collapse of... saw risked avoided predicted failed to predict / avoid English for Finance - no cause for panic David Baker 19/11/11 6 Collocation

7. Explanation From Investopedia.com The European sovereign debt crisis was brought to heel by the financial guarantees by European countries, who feared the collapse of the euro and financial contagion, and by the International Monetary Fund (IMF). Ratings agencies downgraded the debt of several eurozone countries, with Greek debt at one point being moved to junk status. As part of the loan agreements, countries receiving bailout funds were required to meet austerity measures designed to slow down the growth of public sector debt. English for Finance - no cause for panic David Baker 19/11/11 7

8. What are these all examples of? 1.bank overdraft 2.trade credit finance 3.bank loans and term loans 4.property and machinery leasing 5.factoring of sales invoices 6.bonds / debentures 7.mortgages English for Finance - no cause for panic David Baker 19/11/11 8

9. The mechanics of recording vocabulary Organizing vocabulary into categories rather than simple alphabetical lists Recording examples of new vocabulary with whole expressions or sentences Noting common collocations and related grammar structures Checking and learning the pronunciation of a word or phrase English for Finance - no cause for panic David Baker 19/11/11 9

10. Questions learners need to ask themselves Does it tie in with a specific topic? Am I likely to need this vocabulary again? Am I more likely to need it for reception or production? English for Finance - no cause for panic David Baker 19/11/11 10

11. Showing existing knowledge Define? Use in context? Translate? 1.bank overdraft 2.trade credit finance 3.bank loans and term loans 4.property and machinery leasing 5.factoring of sales invoices 6.bonds / debentures 7.mortgages English for Finance - no cause for panic David Baker 19/11/11 11

12. Oxford English for Careers series 6 principles for teaching vocabulary in context identifying key words in each unit presenting vocabulary explanations/definitions in the context of a wider learning task breaking down the task into manageable stages providing alternative ‘routes’ through the material for different levels of learner encouraging learners to do independent follow-up research using coursebook material as springboard for learning, rather than the ‘last word’ on how to learn English for Finance - no cause for panic David Baker 19/11/11 12

13. Support in Teacher’s Resource Book business angels are wealthy individuals who provide financial backing to entrepreneurs who want to start up a company. venture capitalists are investment companies that specialize in investing in small companies ususally in return for equity. You could divide up the task into smaller parts among each group, e.g. one student could evaluate government support, another could look at business angels. If you do this, ensure that each group has a chance to report back to the whole class. Finance 1 Teacher’s Resource Book, page 49. English for Finance - no cause for panic David Baker 19/11/11 13

14. Help with stronger and weaker students + Additional activity (stronger students) The task gets them to focus on UK sources of help. Get them to research equivalent organizations in their own country (or other English-speaking countries). How are they similar to and different from the UK agencies they’ve looked at? Finance 1 Teacher’s Resource Book, page 49. English for Finance - no cause for panic David Baker 19/11/11 14

15. The importance of context, rather than concept “Company Annual Reports often stress commitment to green issues.  Do you think this is appropriate?  Do you find it convincing?” English for Finance - no cause for panic David Baker 19/11/11 15

16. The context... English for Finance - no cause for panic David Baker 19/11/11 16

17. Adding background English for Finance - no cause for panic David Baker 19/11/11 17

18. Oxford English for Careers series 6 principles for teaching vocabulary in context identifying key words in each unit presenting vocabulary explanations/definitions in the context of a wider learning task breaking down the task into manageable stages providing alternative ‘routes’ through the material for different levels of learner encouraging learners to do independent follow-up research using coursebook material as springboard for learning, rather than the ‘last word’ on how to learn English for Finance - no cause for panic David Baker 19/11/11 18