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Senior Teacher, Dimant G. S.

Chernomorsky P. Mohyla State University, Ukraine.

 

Economics: Scientific and Linguistic Approach.

 

To teach economics students to think about economy in terms of price indexes, graphs and economic cycles, they should know all peculiarities and subtleties of this subject not only by hear – say, but from the authentic and reliable sources. Our libraries and book stores have an innumerable number of different books, economic reviews, business bulletins at students’ disposal from which they can get valuable information on various aspects of economy such as: small business, marketing, management, accounting, statistics, banking, etc. A lot of banking and financial terms and notions used worldwide will be comprehended, learnt and later applied to solve our sore national economic and financial problems first theoretically in the seminar room and then this knowledge will be implemented in practice [1].

Some of the economic terms are rather complicated as they don’t exist in our domestic banking sphere, but, nevertheless, future bankers and business people should know the latest trends in this affair. The matter is that and it is a common knowledge that most of business and financial transaction are made electronically and information is overwhelmed by special terminology. It goes without saying that without perfect knowledge of special terms, abbreviations and even slang it will be impossible to conduct business effectively.

At first, all these terms should be understood through explanations and only then put into practice with the help of different situations, business cases, dialogs or reports. In this respect, advertisements of various goods are very helpful. For example such terms as: promotion, bill board, advertise, discount, etc. will help future specialists to advertise their goods and services at the international market. Such terms as: wholesale, retail, assets, transaction, standby letter of credit and a lot of others can be used to deepen and increase their knowledge in banking and financial field [2].

The study of bank’s organization and structure can also help to form the economic outlook of our students. It is well – known that the majority of the western banks are divided in the following divisions: banking, treasury, administrative, financial information systems and corporation divisions. Each of these departments has different services which bring financial success not only to the bank itself but to the country on the whole. It also gives the opportunity to develop firm knowledge of this affair using certain kind of work. If we take Systems and Data Processing Department as an example, the students are able to discuss, argue and express their opinion on this or that subject. As there are more than twenty types of services operating in the bank we can easily imagine what economic and linguistic use our students will get [3].

As all the banks use very sophisticated accounting systems, students have to learn how to work with such notions as: balance sheet, double entry, loans, dividends, fixed assets and a lot of others.

With the growth of global trade, many companies need foreign currencies to purchase goods and services in other countries. That’s why it will be helpful for the future businessmen to know all the details of the exchange rate, spot rate, forward rate and maturity dates. Different work in the seminar rooms can be done to improve and deepen the knowledge of our students. The wide range of methodical ways can be applied: dialogs, conversations, different situations, cases, discussions, press conferences and seminars [3].

Recently, one of the trends in banking field has been the growth in the application of computers in accounting records; where ledgers were once kept by hand. So, the area of operations is now very much based on VDU (video display unit) and if everything is correct we use the database to produce the data we need for other communication media, like telex, a SWIFT message and other banking communication systems. Here we have a very good opportunity to connect the work of our students with computers and other equipment which will allow them to make different calculations as grids, graphs and charts [5].

It goes without saying, that all these methods will simplify the work of any business and undoubtedly make it more effective and productive.

It’s also of a great importance for the future university graduates to know the names of their future job, connected with their professional responsibilities. These names have special construction in their structure and besides the duties which they will perform in companies comprise a lot of special terms which have to be understood during interview or directly while performing their work.

Names of jobs: Online Sales Coordinator, Financial Transition Manager, Revenue Analyst, Accounting Analyst, Investigator/Auditor, E-Commerce Product Manager, Senior Payroll Coordinator.

Duties: following-up on sales leads, implementing insertion orders, processing credit applications, forecasting sales results , competitive compensation packages, a casual yet challenging and fast-paced environment, wholly owned subsidiary, pre- and post-contract financial due diligence.

All the above – mentioned terms and special phrases can be elaborated in the seminar rooms and in future this professional vocabulary will help economists, financiers and bankers in their work [4].

Literature

 1. Le, Susan.   «Susan Lee's ABC of Economics» Poseidon Press. 1969. C. 27.  

2.  Rivers W.M. «Listening Comprehension» - Modern Language Journal. !998. - C. 1215

3. Êýìïáåëë Ð Ìàêêîíåë, Ñòýíëè Ë Áðþ «Ýêîíîìèêñ» Òàëëèí 1996. Ñ. 40.

4.  Galderwood James. «The Developing World: Poverty, Growth and Rising Expectations» Foresman Scott 1976. C. 11.

5. Palmer H.   «The Scientific Study and Teaching of Language» - London. 1922. C. 34.