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HW check. Pls, submit: Report – task 4 (RB, p 26) RB, p 34 – Task III In 2002 Someland’s exports declined by $18bn. Someland’s exports dropped from $73bn to $55bn. 2. Between 2003 and 2004 Someland’s exports stagnated / stood still at $55bn.
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HW check Pls, submit: Report – task 4 (RB, p 26) RB, p 34 – Task III • In 2002 Someland’s exports declined by $18bn. Someland’s exports dropped from $73bn to $55bn. 2. Between 2003 and 2004 Someland’s exports stagnated / stood still at $55bn. 3. In 2004, Someland’s exports gradually increased. 4. In the next year, we recorded a rise of 20% in Someland’s exports. 5. Until June 2006, Someland’s exports plummeted by $53bn.
Handout 1 since 2 to 3 at 4 by 5 --- 6 --- 7 of 8 to 9 around 10 of 11 by 12 to
The functions of a central bank • Implementing monetary policy • Exchange rate supervision (after 1st ppt) 3) Commercial banking supervision 4) Acting as a lender of last resort
Central banking: how can monetary policy help the economy? RB, 62-64 II Read the text again and fill in the table.Work in pairs. Hand in a copy of the table. III Present one type of monetary policy to your colleague (A and B) using the framework below.(A – expansionary, B- restrictive) IV Monetary and fiscal policy
US monetary policy according to CBS students (2006)The Federal Reserve (Central bank of Glenn Hubbard Dean of Columbia Business School Ben Bernanke Chairman of the Federal Reserve http://www.youtube.com/watch?v=3u2qRXb4xCU
The functions of a central bank • Implementing monetary policy • Exchange rate supervision (after 1st ppt) 3)Commercial banking supervision 4) Acting as a lender of last resort
Pair up! • Treasury Slavko Linić • Bank of England Ministar financija • Chancellor Ministarstvo financija • The Governor Hrvatska narodna banka • George Osborne Guverner HNB • _________ Boris Vujčić
Paired up! • TreasuryMinistarstvo financija • Bank of EnglandHrvatska narodna banka • ChancellorMinistar financija • The Governor Guverner HNB • George Osborne Slavko Linić • Michael CarneyBoris Vujčić
Northern Rock Banking Crises, RB, p 59 • Match up the words and definitions below 1 bank run 2 shakeout 3 the Treasury 4 credit squeeze 5 the Chancellor 6 solvent • Read the introduction – underline unknown words - mortgage lender? • Scan the rest of the text and match questions to corresponding paragraphs • Read carefully and underline unknown words / parts you do not understand • Match the words from the text to corresponding explanations
HW (summary): 1) Read Northern Rock banking crisis and do all the exercises 2) Read Helga’s Bar and find out how Helga (with a little help from her friends) ruined a large part of Someland’s economy