Durability means that the item must be able to withstand being used repeatedly. Items that are considered Currency, coins and paper bills used as money meet this requirement. Portability means that individuals are able to carry money with them and transfer it easily to other individuals. -This is why coins and paper money have historically proven popular.
Divisibility means that the money can easily be divided into smaller units of value. - Today, different coins and notes convey these fractional values. Uniformity means that all versions of the same denomination of currency must have the purchasing power. As an example, a 1928 $2 bill will still buy $2 worth of goods or services today.
Limited Supply means that restrictions on the amount of money in circulation ensure that values remain relatively constant for the currency. The responsibility for maintaining an adequate money supply falls on the Federal Reserve System. Acceptability means that everyone must be able to use the money for transactions. In the United States this is indicated on our paper bills by the notation: This note is legal tender for all debts, public and private.
Functions of Money Medium of Exchange This function means that money is accepted throughout the economy as payment for goods and services. Buyers acquire goods by giving up money. Sellers receive money when parting with their goods. This is, without question, the most important function of money. This is the function that makes money MONEY.
Functions of Money Store of Value This function means that money can be used to purchase the same quantity of goods and services, that provide the same consumption value, in the future as it can purchase today. Inflation is the primary nemesis for the ability of money to store value. However, the functional value of the stored money may change over time due to other factors.
Before people used money, they bartered, or traded things they had for the things they wanted. For example, a person may have traded five goats for one cow. Bartering was not always simple, though. Each person had to agree that the items being traded had an equal value. Also, each person had to have something that the other person wanted. People invented money to avoid bartering.
One of the earliest forms of money was metal, such as gold or silver. In North America, Native Americans used beads made of shell, called wampum, as a form of money. China, in 1,000 B.C., produced cowry shells at the end of the Stone Age. In addition, tools made of metal, like knives and spades, were also used in China as money. From these models, we developed today"s round coins that we use daily.
In the 600s BC the kingdom of Lydia in what is now Turkey began to make coins. It was probably the first government to do so. These coins were made of electrum, a precious alloy of gold and silver that consists of about 54 percent gold, 44 percent silver, and 2 percent copper.
The Chinese coins were usually made out of base metals which had holes in them so that you could put the coins together to make a chain. The Greeks and Romans minted coins hundreds of years before the time of Christ. The very earliest coins were struck about 600 BC. A lot of the Greek coins were silver.
The first types of paper money were used in China more than 1,000 years ago. Early paper money was simply a written promise to pay a certain amount of gold or silver money. The paper money was valuable because it could be traded for gold or silver. Later, governments began printing paper money.
The first world money, the Spanish silver dollar or pieces of eight minted in Spain, Mexico and Peru. The Spanish peso contained grams pure silver and was also used as domestic money in Asia, Latin America, America and Europe.
In July 1944 the agreement of more than 40 countries led to the creation of the International Monetary Fund (IMF), which countries joined by paying a subscription. Members agreed to maintain a system of fixed but adjustable exchange rates. Countries with payment deficits could borrow from the fund, while those with surpluses would lend.
The dollar became the most widely used currency in international trade, even in trade between countries other than the United States. It was the unit in which countries expressed their exchange rate. 1$ George Washington 2$ Thomas Jefferson 5$ Abraham Lincoln 10$ Alexander Hamilton 20$ Andrew Jackson 50$ Ulysses S. Grant 100$ Benjamin Franklin 500$ William McKinley 1000$ Grover Cleveland 5000$ James Madison 10000$ Salmon P. Chase
The largest bill ever circulated in the United States is the $10,000 bill, which features the face of Salmon P. Chase, who was Abe Lincoln's Secretary of the Treasury. If you have one, you can spend it, but most of them are in museums these days.
On August 15, 1971 the system of fixed exchange rates broke down. President Richard Nixon severed the dollar from any connection to gold. Since then the international monetary system has consisted of a collection of currencies linked by floating exchange rates.
12 European countries - Luxembourg, Ireland, Finland, the Netherlands, Belgium, Germany, France, Austria, Italy, Spain, Portugal and Greece adopted the euro. On February 28, 2002 all national bills and coins of the 12 member nations were withdrawn from circulation and the euro became the sole legal currency in use.
Answer the questions 1)What is money? 2)What is portability of money? 3)3 main functions of money are… 4)What is token money? 5)Why did people invent money? 6)What was the first money in China and North America? 7)Where did the first paper money appear? 8)Name first and nowadays world money. 9)When was the IMF founded and what for? 10) What is euro?
Presentation on the topic: “English money” consists of 18 slides; It can be used in foreign language lessons and elective classes to familiarize yourself with English money.
British currency uses both notes and coins. One pound sterling is equal to one hundred pence. Pence are indicated by the letter ‘p.’ £1 = 100p
The five-pound note, is blue and green in color and has a portrait of Elizabeth. the £5 
The ten pence coin pictured a lion, which is wearing the crown of the Monarch. The twenty pence coin pictured the Tudor Rose. The rose is the national flower of England.
Vaulina Yu.E. ,Evans V., Dooley J., Podolyako O.E. // English in focus. 8th grade: textbook for educational institutions - 2nd ed., additional. and revised - M.: Express Publishing: Education, pp.: ill. -Pound sterling sign image- - Image-English money- Vaulina Yu.E. ,Evans V., Dooley J., Podolyako O.E. // English in focus. 8th grade: textbook for educational institutions - M.: Express Publishing: Education, 2010-p.53
English money - 10 pounds sterling - - English money - 20 pounds sterling - - English money - 50 pounds sterling -
-. English coins - 10 pence - http://www. coins-and-banknotes. com
Slide 1
Slide 2
History of English money The name of the modern English currency appeared in the 12th century and originally meant literally “a pound of pure silver.” This is related to the "sterling" - an ancient English silver coin. 240 coins weighed 1 Tower pound (5400 grains, about 350 grams). Large purchases were expressed in “pounds sterling.” On the other hand, it was a way to check the weight of the coins - if the weight of 240 coins is not equal to 1 pound, the coins could be counterfeit or too worn.
Slide 3
Monetary Equalities. 1 pound 20 shillings 1 sovereign 20 shillings 1 guinea 21 shillings 1 crown 5 shillings 1 half-crown 2½shillings 1 florin 2 shillings 1 shilling 12 pence 1 penny 4 farthings
Slide 4
Slide 5
Problem No. 1 The Prince of Wales decided to collect a collection of ancient coins. He had 2 pounds, 10 crowns, 5 florins, 1 guinea and 2 sovereigns. How many shillings could the prince exchange these coins for?
Slide 6
Solution: 20×2+10×5+5×2+1×21+2×20=161(shilling) Answer: The Prince of Wales had 161 shillings.
Slide 7
Betsy came to the candy store. In her wallet she had 16 crowns, 18 florins and 48 pence. How many cakes could Betsy buy if the price of one cake was £2? Task No. 2
Slide 8
1) 16×5=80 (shillings) -16 crowns 2) 18×2=36 (shillings) -18 florins 3) 48:12=4 (shillings) - 48 pence 4) 80+36+4=120 (shillings ) – in total Betsy had 5) 20×2=40 (shillings) a cake cost 6) 120:40=3 (cakes) Solution: Answer: Betsy can buy 3 cakes.
Slide 9
Task No. 3 Weighed a bag of sterling. Its weight is 1 kilogram 750 grams. How many coins are in the bag?
Slide 10
1) 1 kg. 750 g=1.750 g. 2) 1.750:350=5(pounds) 3) 240x5=1.200 (coins) Answer: 1200 coins in a bag. Solution:
Slide 11
The price of a large pot of honey is 1 crown, and a small one is 1 florin. How many pots did Winnie the Pooh buy for 1 sovereign if he bought 3 more small ones than large ones? Solve the problem algebraically. Task No. 4
Slide 12
1) Let y be the number of large pots, and y+3 the number of small ones. Then Winnie the Pooh spent: 5y+2(y+3) shillings Knowing that this is equal to 1 sovereign, or 20 shillings, let’s create the equation: 5y+2(y+3) = 20; 7у+6=20; 7у=20-6; 7у=14; y=14:7; y=2; 2) Then small pots: y+3=5 Answer: Winnie the Pooh bought 2 large and 5 small pots. Solution:
Slide 13
Holmes turned into one of the delivery offices, the boss of which greeted him with open arms. -Wilson, I remember you had one boy named Cartwright. - Yes, sir, he still works for me. - Is it possible to call him? Thank you. And be kind enough to exchange these five pounds for me. A fourteen-year-old teenager with a lively, intelligent face came to the boss’s call. -Look, Cartwright, these are the names of twenty-four hotels in the Charing Cross area. - Yes, sir. - You will go around them all in turn. And to begin with, you will give the doormen a shilling. Here's 24 shillings for you. - Yes, sir. - You will say that you need to look at the trash thrown out of the baskets yesterday. The doormen will, of course, send you to the bellboys, and you’ll give them a shilling, too. Here's another 24 shillings for you. Just in case, I'll give you another 10 shillings. By evening, telegraph to me at Baker Street how things are going with you... (According to A. Conan Doyle) How many guineas does Sherlock Holmes have left? Problem #5
Slide 14
Solution: 1) 20x5 = 100 (shillings) - Holmes had 2) 24 + 24 + 10 = 58 (shillings) - he gave to Cartwright. 3) 100-58 = 42 (shillings) - he has 4) 42 shillings = 2 gin. Answer: Holmes has 2 guineas left.
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Slide captions:
British and American money Torina Lyudmila Vasilievna teacher of the 1st category MBOU "Secondary School No. 18" Abakan, Republic of Khakassia
Purpose: to familiarize students with the monetary system in the UK and the USA, with a traveler's check. Objectives: development of attention; development of the ability to guess by definition; development of the ability to choose expressions; development adequate to the situation; development of the ability to speak based on what has been read; developing the need and ability to understand the lifestyle and behavior of people of another culture. Speech material: lexical: pounds, pence, dollars, cents, currency, coin, basic unit, exchange rate, commission charge, receipt, bank account, euros.
Phonetic exercise Listen, repeat and read: pound exchange commission charge pence rate coin cent basic unit currency receipt bank account euros
Read the text Pounds and pence, dollars and cents The basic unit of British currency is the pound. One pound is 100 pence. There are eight different British coins; there are one-pence coins, two pence coins, five-pence coins, ten-pence coins, twenty-pence coins and fifty-pence coins. There are also one pound coins and two pound coins. Then there are live – pound notes, ten-pound notes, twenty – pound notes and fifty – pounds notes. The basic unit of American currency is, of course, the dollar. One dollar is 100 cents. There are five different coins; there are one-cent coins, five – cent coins, ten-cent coins, twenty-five-cent coins and fifty-cent coins. There are one-dollar notes, five-dollar notes, ten-dollar notes, twenty-dollar notes, fifty – dollar notes and one-hundred-dollar notes. Usually the exchange rate is about one and a halt dollars to the pound.
Understanding from the context 1. Make sentences about the Russian currency using new vocabulary 2. Based on the text given, select English equivalents for these six Russian words: also usually currency different basic unit
Finding information Answer the questions using the text about British and American money. 1. What denomination of banknote is there in the USA that is not in the English monetary system? 2. The Americans and the British have the same coins of four denominations: which ones? 3. Let's say you need to tell a foreigner about Russian coins and banknotes. Which monetary system is the Russian one more similar to: the English one or the American one? 4. Which banknote is worth more: 1 pound or 1 dollar? 5. Which is more expensive: 20 pounds or 25 dollars?
Jumbled sentences 1. unit/pound/The/British/basic/of/the/currency/is 2. unit/dollar/The/American/basic/of/the/currency/is 3. about/The/half/exchange/ one/pound/a/dollars/rate/to/is/the/and 4. pence/One/100/pounds/is 5. British/are/coins/eight/There/different Key: 1. The basic unit of British currency is the pound. 2. The basic unit of American currency is the dollar. 3. The exchange rate is about one and a half dollars to the pound. 4. One pound is 100 pence. 5. There are eight different British coins. 1. Put the words in the correct order. 2. Arrange the words so that you get a complete sentence. Example. and/one-pound/There /coins/two-pound/are/coins There are one-pound coins and two-pound coins.
All about your currency Money word search Using the story about British money as a model, make up several sentences about Russian currency, banknotes and coins. I P R I C E C P D O L L A R H R C U C O I N E A H N W V B C Q N A D H C A X U O N J P E N C E T G R Y N K L B E E A L T M S U O Find ten words related to the topic “Money”.
Missing words Choose phrases from the text that can be inserted into the gaps in these sentences. 1) The… .. is 1.1 dollars to the euro. 2) … … Is the CD player? 3) You can buy stamps at the…. . 4) “It costs 11.” “Here, s a pound coin and a…..”. 5) At the bank, the….. is 2%. Key: 1) exchange rate, 2) How mach, 3) post office, 4) ten-pound note, 5) commission charge.
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