1 Facoltà di Economia Corso di Laurea in Economia e Gestione Aziendale Corso di Laurea in Economia e Finanza Lingua Inglese prof.ssa Luisanna Fodde a.a. 2004/2005

Trade Any English words or expressions connected with …………. Any English words or expressions connected with …………. Employment

Trade The WTC and the twin towers Providing fair wages and good employment opportunities to economically disadvantaged artisans and farmers worldwide.

Trade WTOWorld Trade Organization Measures in favour of or against FREE TRADE ( trade without restrictions on the movement of goods- without high import taxes ) Trade barriersTrading Blocks Open Borders DeregulationSubsidiesQuotas

WTO FACT FILE FACT FILE : Geneva, Switzerland : 1 January 1995 Uruguay Round negotiations ( ) : Location: Geneva, Switzerland Established: 1 January 1995 Created by: Uruguay Round negotiations ( ) Membership: 146 countries (as of 4 April 2003) Budget: 154 million Swiss francs for 2003 Secretariat staff: 550 Head: Supachai Panitchpakdi (director-general) Functions: Functions: Administering WTO trade agreements Forum for trade negotiations Handling trade disputes Monitoring national trade policies Technical assistance and training for developing countries Cooperation with other international organizations

The Department of Trade and Industry The Department of Trade and Industry has the clear aim of generating wealth for everyone in the UK by helping people and businesses to become more productive and more successful. to achieve We set the policies, promote the best practice and deliver practical solutions to achieve long term prosperity for all. How do we do it? We focus on Fresh thinking ; encouraging enterprises equipping our managers and employees with new skills securing the vital investment in research and dynamic businesses that lead to better jobs. We also provide the regulatory framework that ensures that consumers and employees receive a fair deal, while the best businesses and creators of new ideas are justly rewarded.

Trade Why do we buy rather than domestically produced ones? Why do we buy exported goods rather than domestically produced ones? ARE THEY CHEAPER / MORE FASHIONABLE/ BETTER MADE? How do we measure the of a nation? (p. 46) How do we measure the wealth of a nation? (p. 46) GDP (Gross Domestic Product) PER CAPITA: The value of all the goods and services produced within an economy devided by the population

Trade Letters of Credit L.o.C. are used in international trade to guarantee and facilitate trade payments. The importer’s account is debited by the agreed amount of money. His or her bank then instructs a correspondent bank abroad to make the money available to the exporter. EXPORTER-IMPORTER-TYPE OF GOODS- QUANTITY- VALUE- METHOD OF PAYMENT-

Trade Elements of a Letter of Credit A promise of payment given by a bank (issuing bank) On behalf of a buyer (applicant) To pay a seller (beneficiary) for a given amount of money On presentation of specified documents representing the supply of goods (invoice, bill of lading, insurance) Within specified time limits Documents must conform to terms and conditions set out in the letter of credit Documents to be presented at a specified place

IF SENTENCES 1ST CONDITIONAL (REAL POSSIBILITY/HIGH PROBABILITY) Will you help her if she (need) you? You will spoil everything if you (not be) careful. 2ND CONDITIONAL (LOWER PROBABILITY IN THE FUTURE – REAL OR UNREAL) I would be very happy if you (come). They would be silly if they (not take) this opportunity. 3RD CONDITIONAL (EVENTS WHICH DID NOT HAPPEN IN THE PAST - UNREAL) What (happen) yesterday if you (forget) your homework? He would have helped me if he (have) the time.

IF SENTENCES 1ST CONDITIONAL (REAL POSSIBILITY/HIGH PROBABILITY) If you order 2000 cases, we’ll give you a 10% discount and deliver before the Christmas rush. We will also cover the insurance costs. 2ND CONDITIONAL (LOWER PROBABILITY IN THE FUTURE – REAL OR UNREAL) If you ordered 2000 cases, we would give you a 10% discount……(there is still a possibility..) 3RD CONDITIONAL (EVENTS WHICH DID NOT HAPPEN IN THE PAST - UNREAL) If you had ordered 2000 cases, we would have given you a 10% discount (but you did not order them…)

IF SENTENCES If your car broke down on the motor way, what ……………you ……… (do) ? If I ………………………. that the manager was stealing money from the company, I would have told you. (know) I would feel much better if you …………… alone at night in this town (not walk) “Will you call me tonight?” ‘Yes, I ………. (phone) you as soon as I …………… (get) hom I’ll be on the six o’clock train unless the meeting ……………. late (finish I ……………….. (not drive) in this weather if I ………….(be) you If Elizabeth hadn’t had to go to work the other day, she …….. (go) to concerts. If ……………… (she / not /pass) this exam, …………..(she / not / get) the job she wants. ………… (they / be) champions if they had won that game? His boss (be) angry, if John …. (arrive) at work late again.

ASHBURY GUITARS What is the business relationship between KGC and Ashbury guitars? What types of products does KGC create? Describe the company Asbury Guitar. Who is Mr. Richard Grant and what is his plan? Finish the sentence: Ashbury’s guitar will appeal to……. ……..………………………

ASHBURY GUITARS What is the business relationship between KGC and Ashbury guitars? KGC IS A GUITAR MANUFACTURER, A.G. IS A DISTRIBUTOR which has contacted KGC What types of products does KGC create? ITS OWN BRANDED PRODUCTS, BUT THEY ALSO MAKE GUITARS TO THE DISTRIBUTORS’ SPECIFICATIONS Describe the company Asbury Guitar A WELL-ESTABLISHED COMPANY WITH AN UP-MARKET IMAGE Who is Mr. Richard Grant and what is his plan? HE IS THE COMPANY’S OWNER AND HE PLANS TO PUT 3 MODELS ON THE MARKET Finish the sentence: Ashbury’s guitar will appeal to Finish the sentence: Ashbury’s guitar will appeal to any musician who wants an instrument with a distinctive sound and exotic appearance.

The World Trade Organisation (WTO) is the ………………………. body of international trade, setting and ……………… the ……………………… and punishing offenders. ……………………………. during the Uruguay Round of talks under the …………………………………………………………… (GATT), it opened for business in WTO membership ………………………………… to include 148 countries (Russia is not among them). The WTO is detested by anti-globalists who wrongly assert it is hostile to democracy (…………………………………………………) and damaging to the environment. These ………………………………………… at the WTO summit in Seattle in December 1999.

The World Trade Organisation (WTO) is the governing body of international trade, setting and enforcing the rules of trade and punishing offenders. Established during the Uruguay Round of talks under the General Agreement on Tariffs and Trade (GATT), it opened for business in WTO membership has since grown to include 148 countries (Russia is not among them). The WTO is detested by anti-globalists who wrongly assert it is hostile to democracy (in its design and pursuit of free trade) and damaging to the environment. These complaints led to violence at the WTO summit in Seattle in December 1999.

Its current director-general, ………………………………………………………………………. launched at Doha in November 2001, which could produce ………………………….., especially to poor countries. ……………………………………………….. caused the WTO talks ……. in Cancún in September 2003 to collapse, putting the round …………... But an assurance by rich countries ……………………………………. reactivated the process in July Progress in 2005 will greatly depend on whether George Bush …………………………………………………………….

Its current director-general, has been managing the global round of trade talks launched at Doha in November 2001, which could produce substantial benefits, especially to poor countries. Disagreement about liberalising farm trade caused the WTO talks held in Cancún in September 2003 to collapse, putting the round in jeopardy. But an assurance by rich countries to cut agricultural subsidies reactivated the process in July Progress in 2005 will greatly depend on whether George Bush puts global trade liberalisation on his agenda.