Why to experts in the field of economy and finance foreign languages

Новикова Ю.О.

Масюк Л.Н.

Why to experts in the field of economy and finance foreign languages

Good knowledge of a professional foreign language for experts in the field of economy and finance is one of conditions of successful work and career growth. The Russian business is more and more integrated into world economy, and knowledge of the foreign language, at least one, becomes the same basic skill as ability to work at the computer. The enterprises and firms try to refuse a translation service, at least from the European languages, and employ as the employees knowing a foreign language and capable to translate narrow-purpose literature and documentation more willingly. The knowledge of the common foreign language often isn't enough for free orientation in business and professional information, for effective communication with foreign experts in the sphere of economy and finance. In the conditions of economy globalization the foreign language, especially English, becomes an important information product, it helps to estimate objectively a situation in world economy, to develop strategy of increase of efficiency of economy for the enterprise. In daily professional activity in the field of economy and finance the foreign language is necessary for experts for:

• studying of the theory and practice of foreign economic activity, international business
• possession of the dictionary of economic terms, expansions of knowledge of area of economic science (all modern textbooks are written generally in English)
• readings special literature and materials with extraction of necessary information, acquisition of skills of summarizing, annotation
• processings of big arrays of information in a foreign language
• free professional communication with colleagues as in Ukraine and abroad
• for business correspondence, maintaining documentation
• cross-cultural communication, expansion of an outlook, rapprochement of cultures of the different people

In the field of economy and finance there are many specialties and specializations of the higher education training on which assumes the raised level of teaching of foreign languages. For example, the training program in "World economy" includes even two foreign languages, and graduates have qualification "the economist with knowledge of foreign languages. The graduate in the sphere of economy and finance with good knowledge of foreign languages has every chance to get a job in the international company on a position of the economist, the financial manager, the analyst.  Other option of employment is the representation of foreign firm in Ukraine and 2/3 Ukrainian companies have foreign partners.  The knowledge of a foreign language adds to the size of a salary of the expert in this sphere on the average 20%. Very much the good knowledge of foreign languages in such quickly developing sphere, as insurance is useful. The expert needs to know main types and forms of the international insurance; to be able to carry on negotiations with contractors; to work with foreign documentation; to use the professional knowledge for protection of interests of the state, the organizations and citizens on the international scene; to resolve any issues without the assistance of the translator. The knowledge of professional terminology as the correct interpretation of insured event sometimes depends on nuances of transfer is very important. The Ukrainian economy, by far the most in demand English. The second most popular study - German, since Germany is the largest trading partner of Ukraine. Growing popularity of the Spanish language. Asian companies operating in Ukrainian was used as the working language is English. It is possible to recommend such interesting programs of training, as "The international bank activity and finance", "English in insurance", "English for bank workers of an average and the top management", etc. Financial (investment) analysts have to know English at free level for carrying out monitoring and the analysis of the world financial markets;  securities market;  researches of financial activity of the companies issuing stocks;  developments of recommendations on purchase/sale of shares;  drawing up reports. For exchange activity the broker (trader) needs also free knowledge of English. The currency and trade markets have world character, and all analytical materials on them are provided in English. To possess information first-hand, to exclude inaccuracies of transfer and, therefore, to make the fast and right decision, to have more chances to conclude a good bargain, the broker has to know as professional English with a large number of terms, and colloquial - for communication with English-speaking colleagues. Courses are intended for businessmen, lawyers, auditors, financiers, analysts, investors, accountants, bank workers, for all who is anyway connected on work with finance.  In the training program:  working off of highly specialized terminology in real situations, maintaining documentation and drawing up accounting reports. For confirmation of high level of proficiency by professional English in the sphere of economy and finance there are international certificates. In the field of accounting and financial management - ICFE (International Certificate of Financial English). The certificate of possession will be suitable for all spheres of economic activity by business English of BEC. For the expert the possession such certificates is an admission for work in the international companies. It is possible to pass examinations for obtaining certificates on a student's bench. In this case participation in the international student's conferences and programs on an exchange of students, hearing of lectures of the best foreign professors with active participation in discussion, receiving foreign grants and grants is guaranteed to you.