高级综合商务英语2（第二版）教案Unit 2 Business Management、Unit 4 Money Investmen、Unit 5 Clean Energ

Unit2BusinessManagementLead-in(Open-ended)Thisquestiontestsstudents’knowledgeindifferentcultural,business,andhistoricalcontexts,andtheirabilitytothinkcritically,connectthecharacters’real-lifeorfictionalexperienceswiththegivenqualities,andexpresstheirunderstandingclearlyandlogically.Studentsneedtobefamiliarwiththecharacteristicsandmainachievementsofdifferentcharactersfromvariousfields.Forexample,theyshouldknowaboutZhugeLiang’scarefulgovernanceofthestateofShuintheThreeKingdomsperiod,RenZhengfei’sleadershipinHuawei’ssurvivalandgrowth,JackWelch’smanagementstyle,andMartinLutherKing’seffortsinthecivilrightsmovement.Thefollowinganswersareforreferenceonly,asthefourcharactersmayexhibitacombinationofthesetraits.1)B 2)A 3)D 4)C(Open-ended)Thisquestionexaminesstudents’understanding,analysis,andevaluationabilitiesofleadershipresponsibilities,aswellastheirlogicalreasoningability.Fromtheperspectiveofleadership,studentsarerequiredtojudgeandexplaintheimportanceofeachresponsibilitybycombiningknowledgesuchasorganizationaloperationandteammanagement.Thefollowingprovidesapossiblerankingandthereasons.Ranking:A–9;B–8;C–7;D–6;E–10;F–7;G–5;H–7;I–8;J–9Reasonsfortheranking:E.actwithintegrityandfairness(10points):Integrityandfairnessarethecornerstonesofleadership.Aleaderwhoactswithintegrityandfairnesscanearnthetrustofemployees,partners,andallstakeholders.Withouttrust,itisdifficulttocarryoutotherleadershipactivitieseffectively.Soitisthemostimportant.A.createandestablishstrategies(9points):Strategiesprovidedirectionforanorganizationandserveasblueprintsforitsdevelopment.Therightstrategiescanhelpanorganizationfinditspositioninacomplexandchangingenvironmentandclarifyitsgoals,whichiscrucialforlong-termdevelopment.J.produceresults,meetobjectives,andexceedgoals(9points):Theultimatevalueofaleaderliesinwhethertheycanleadtheteamtoachieveexpectedresultsandgoals.Thisisadirectcriterionforevaluatingleadershipeffectivenessandiscloselyrelatedtothesurvivalanddevelopmentoftheorganization.B.ensureeffectivenessandefficiency(8points):Effectivenessensuresthattherightthingsaredone,andefficiencyensuresthatthingsaredoneright.Inasituationoflimitedresources,ensuringeffectivenessandefficiencycanhelptheorganizationachieveitsgoalsbetterandenhanceitscompetitiveness.I.motivate,coach,anddeveloptheemployees(8points):Employeesarethecoreassetsofanorganization.Motivating,coaching,anddevelopingemployeescanimprovetheirabilitiesandenthusiasm,taptheirpotential,andcreategreatervaluefortheorganization.C.communicateopenlyandoften(7points):Goodcommunicationisthekeytoinformationtransmission,workcoordination,andproblemsolving.Openandfrequentcommunicationcanreducemisunderstandings,enhanceteamcohesion,andpromotethesmoothprogressofallwork.F.providecounselanddirection(7points):Employeesneedtheprofessionaladviceanddirectionofleadersintheirwork,whichhelpsthemcompletetasksbetterandimproveworkquality.H.fostercollaboration(7points):Collaborationcanintegratetheadvantagesofteammembers,realizeresourcesharingandcomplementaryadvantages,improvetheoverallcombateffectivenessoftheteam,andiscrucialforachievingorganizationalgoals.D.buildsolidrelationships(6points):Solidrelationshipsincludethosewithemployees,customers,partners,etc.Agoodrelationshipnetworkcancreateafavorableexternalenvironmentandinternalatmospherefortheorganization,butitsimportanceisslightlylowercomparedtothepreviousitems.G.exertinfluenceintheabsenceofownership(5points):Althoughitisimportanttoexertinfluenceincertainsituations,comparedwithotherresponsibilitiesthataredirectlyrelatedtothecoreoperationoftheorganizationandteam-building,itsimportanceisrelativelylow.TextAReadingComprehension1.1)T2)F3)F4)T5)T6)F7)F8)F9)F10)T2.Thesetwoaccountsdonotcontradict.Thepersonalitiesofeffectiveexecutivesbeing“alloverthemap”referstotheirdiverseindividualtraitsintermsofpersonalities,attitudes,values,strengths,andweaknesses.However,theircodesofconductfollowthesameeightpractices.Thesepracticesareabouttheirbehaviorsandwaysofworking,developingactionplans,etc.Personalityisaboutwhotheyareasindividuals,whiletheeightpracticesareaboutwhattheydointheirprofessionalroles.Thepersonalitytraitsmayinfluencehowanexecutiveapproachesthesepractices,butthepracticesthemselvesremainconsistentacrossdifferentindividuals.Iagreethateffectivenessisadiscipline.Theauthormentionsthateffectivenesscanbelearnedandmustbelearned,justlikeanyotherdiscipline.Effectiveexecutivesfollowspecificpracticessuchasdevelopingactionplans,takingresponsibilityfordecisionsandcommunication,etc.Thesepracticesarenotjustinnatetalentsbutcanbestudied,practiced,andmastered.Forexample,peoplecanlearnhowtorunproductivemeetings,howtofocusonopportunitiesratherthanproblems,andhowtothinkandsay“we”ratherthan“I”throughtrainingandself-discipline.Justasdisciplineslikemathematicsorphysicshaveprinciplesandmethodsthatcanbelearned,thepracticesofeffectiveexecutivesformasetofknowledgeandskillsthatcanbeacquired.Aneffectiveexecutiveisnotnecessarilyequaltoagreatleader.Aneffectiveexecutiveisgoodatgettingthingsdonethroughthefollowingpractices,likedevelopingactionplans,makingdecisions,andcommunicatingeffectively.Agreatleader,ontheotherhand,mayneedadditionalqualitiessuchastheabilitytoinspireandmotivatepeopleonalargescale,setalong-termandinspiringvision,anddemonstratethecharismatoleadpeoplethroughmajorchanges.Someeffectiveexecutivesmayalsobegreatleadersiftheypossessthecharismaandvisiontoinspireothers.Buttherearethosewhoaregoodatthemechanicsofmanagementwithouthavingtheabilitytoleadinamoreinspirational,transformationalway.Thus,thetwoconceptsarenotidentical.II.Vocabulary1)render2)Meticulous3)stereotypical4)adjourn5)reclusive6)splinter7)parsimonious8)straitjacket1.Therefore,beforesettinganagendaandstickingtoit,theeffectiveexecutivewouldaskwhatneedstobedone.Allmaleoffspringofthefounderswereeligiblefortheentry-leveljobsattheEventhemostbrilliantexecutivesareordinarypeople,sotheyarealsoinclinedtomakemistakesandprejudices.Isitinaccordancewiththemission,values,andpoliciesoftheorganization?Attheendofthemeeting,apreappointedmemberhastotakeresponsibilityforcirculatingthefinaltext.2.They varied in their personalities, attitudes, values, strengths, andweaknesses.Iftheyareagreatminoritywhospecialize/dealinworkingatachangingpace,theypicktwotasks.Buttheexecutiveneedstoplanhiscoursebeforetakinganypromptaction.Ofcourse,problemshavetobetakencareof.Theymustnotbehidden.Seniorexecutivesaresoeffectivethattheycanpreventsuchmeetingsfromeatinguptheirworkdays.1.论个性、态度、价值观、优点及缺点，他们不尽相同，有外向有内向，有随和有霸道，有宽厚有吝啬。对“需要做什么？”这个问题的回答通常是不止一项紧急任务，但高效的执行官是不会施展分身术的。行动计划不是做出承诺，而是声明意图，它绝不能成为紧箍咒。据称拿破仑曾说过：成功的战役从不按计划行事。然而，拿破仑也逢战必谋，而且其谋划比之前任何将领更加巨细无遗。我们刚才总结了高效执行官的八项做法。我将要说的最后一项额外的做法非常重要，因此我将把它提高到规则的高度——先听后说。2.Chinesebusinessleadershipischaracterizedbyauniquecombinationoftraditionalvaluesandcontemporarymanagementpractices.ItdrawsuponancientChinesephilosophiesthatemphasizeharmony,balance,andcollectiveinterest,whilealsoembracingmodernconceptsofinnovation,efficiency,andglobalcompetitiveness.Chinesebusinessleadersusuallyattachgreatimportancetobuildinglong-termrelationships,bothwithintheirorganizationsandwithexternalpartners,recognizingthattrustandmutualrespectarethecornerstonesofsustainablesuccess.Inaddition,Chinesebusinessleadersareincreasinglyfocusedonleveragingtechnologyanddigitaltransformationtodrivebusinessgrowthandimproveoperationalperformance.Theirleadershipstyleoftencombinesadeepunderstandingoflocalmarketdynamicswithaglobalmindset,enablingthemtonavigatecomplexbusinessenvironmentsandseizeopportunitiesonaglobalscale.AsChina’seconomicinfluencegrows,itsuniqueapproachtobusinessleadershipisattractingincreasingattentionandofferingvaluablelessonsforbusinessleadersaroundtheworld.V.Cloze1）K2）A3）C4）N5）H6）B7）G8）L9）I10）JListening1.1)effective2)pillars3)repeatable4)individuals5)scenarios6)ahead7)downstream8)motivated9)legwork10)overallScriptsWhatismanagement?Whatdomanagersdo?HowdoImanage?Thesearestandardquestionsthatmostofusinthemanagementprofessionhavebeenaskedmorethanonce,andquestionsweaskedonceinourcareerstoo.Here,then,isabasiclookatmanagementfrommyperspective.Managementisbothartandscience.Itistheartofmakingpeoplemoreeffectivethantheywouldhavebeenwithoutyou.Thescienceisinhowyoudothat.Therearefourbasicpillars:plan,organize,direct,andmonitor.Skill1:Managementstartswithplanning.Goodmanagementstartswithgoodplanning.Withoutaplan,youwillneversucceed.Ifyouhappentomakeittothegoal,itwillhavebeenbyluckorchanceandisnotrepeatable.Youmaymakeitasaflashinthepan,anovernightsensation,butyouwillneverhavethetrackrecordofaccomplishmentsofwhichsuccessismade.Figureoutwhatyourgoalisorlistenwhenyourbosstellsyou.Thenfigureoutthebestwaytogetthere.Whatresourcesdoyouhave?Whatcanyouget?Comparestrengthsandweaknessesofindividualsandotherresources.Willputtingfourworkersonataskthattakes14hourscostlessthanrentingamachinethatcandothesametaskwithoneworkerinsixhours?Ifyouchangethefirstshiftfroman8a.m.starttoa10a.m.start,cantheyhandletheearlyeveningrushsoyoudon’thavetohireanextrapersonforthesecondshift?Lookatalltheprobablescenarios.Planforthem.Figureouttheworstpossiblescenarioandplanforthattoo.Evaluateyourdifferentplansanddevelopwhatwillworkthebestandwhatyouwilldoifitdoesn’t.Skill2:Nowthatyouhaveaplan,youhavetomakeithappen.Iseverythingreadyaheadofyourgroupsotherightstuffwillgettoyourgroupattherighttime?Isyourgrouppreparedtodoitspartoftheplan?Isthedownstreamorganizationreadyforwhatyourgroupwilldeliverandwhenitwillarrive?Aretheworkerstrained?Aretheymotivated?Dotheyhavetheequipmenttheyneed?Aretheresparepartsavailablefortheequipment?Haspurchasingorderedthematerial?Isittherightstuff?Willitgethereontheappropriateschedule?Dothelegworktomakesureeverythingneededtoexecutetheplanisreadytogo,orwillbewhenitisneeded.Checkbacktomakesurethateveryoneunderstandstheirroleandtheimportanceoftheirroletotheoverallsuccess.2.Thespeakerthinksof“tellingpeoplewhattheyneedtodo”asconductinganorchestra.Whensomethingisoutofsync,themanagerneedstoplanafix,organizetheresourcestomakeitwork,directthepeoplewhowillmakeithappen,andcontinuetomonitortheeffectofthechange.Managementistheartofmakingpeoplemoreeffectivethantheywouldhavebeenwithoutyou.Thescienceisinhowyoudothat.ScriptsSkill3:Nowflipthe“ON”switch.Tellpeoplewhattheyneedtodo.Iliketothinkofthispartasconductinganorchestra.Everyoneintheorchestrahasthemusicinfrontofthem.Theyknowwhichsectionisplayingwhichpieceandwhen.Theyknowwhentocomein,whattoplay,andwhentostopagain.Theconductorcueseachsectiontomakethemusichappen.That’syourjobhere.You’vegivenallyourmusicians,meaningworkers,thesheetmusic,herereferringtotheplan.Youhavetherightnumberofmusiciansineachsection,herereferringtoyourdepartment,andyou’vearrangedthesectionsonstagesothemusicwillsoundbest.Nowyouneedonlytotapthepodiumlightlywithyourbatontogettheirattentionandgivethedownbeat.Skill4:Nowthatyouhaveeverythingmoving,youhavetokeepaneyeonthings.Makesureeverythingisgoingaccordingtotheplan.Whenitisn’t,youneedtostepinandadjusttheplan,justastheorchestraconductorwilladjustthetempo.Problemswillcomeup.Someonewillgetsick.Apartwon’tbedeliveredontime.Akeycustomerwillgobankrupt.Thatiswhyyoudevelopedacontingencyplaninthefirstplace.You,asthemanager,havetoalwaysbeawareofwhat’sgoingonsoyoucanmaketheadjustmentsrequired.Thisisaniterativeprocess.Whensomethingisoutofsync,youneedtoplanafix,organizetheresourcestomakeitwork,directthepeoplewhowillmakeithappen,andcontinuetomonitortheeffectofthechange.Managingpeopleisnoteasy.However,itcanbedonesuccessfully.Anditcanbeaveryrewardingexperience.Rememberthatmanagement,likeanyotherskill,issomethingthatyoucanimprovewithstudyandpractice.WritingReferenceanswers：TheCharacteristicsofChineseBusinessManagementModelsChinesebusinessmanagementmodelsareshapedbyauniqueblendofculturaltraditions,institutionalcontexts,andrapideconomicdevelopment.TheyexhibitdistinctcharacteristicsthatdistinguishthemfromWesternorotherAsianmodels,whilealsoevolvingtointegrateglobalbestpractices.Aprominentcharacteristicistheirdeepintegrationoftraditionalculture.Confucianvalueslike“harmony”and“collectivism”formthecore.UnlikeWesternmodelsemphasizingindividualachievements,Chinesefirmsoftenbuilda“family-style”workenvironment.Managersnotonlycareaboutworkperformancebutalsoemployees’personallives,suchasfamilyissuesorhealthconditions.Thisapproachstrengthensemotionalbonds,booststeamspirit,andmakesemployeesmorecommittedtothecompany’sdevelopment.Forexample,manyenterprisesholdregularteam-buildingactivitiesandprovidewelfareprograms,whichsignificantlyreducestaffturnover.Anotherkeyfeatureisflexibilityandadaptiveagility.Chinesecompaniesarerenownedfortheirabilitytopivotquicklyinresponsetomarketchanges,atraithonedbydecadesofrapideconomictransformation.Manycompaniesprioritizespeed-to-market,refiningofferingsbasedonreal-timecustomerfeedback.Duringthedigitaltransformationwave,manytraditionalretailersswiftlyshiftedtoe-commerceplatforms,capturingnewmarketshares.Meanwhile,theyneverlosesightoflong-termgoalsbyinvestinginresearchanddevelopment,ensuringtechnologicalleadershipintheworld.Additionally,relationship-orientedgovernanceplaysavitalrole.InterpersonalrelationshipisacornerstoneofChinesebusinessdynamics,influencingdecisionmaking,partnerships,andresourceallocation.Itgoesbeyondmeresocialties;itinvolvesmutualtrust,reciprocity,andlong-termobligations.Enterprisesmaintaingoodrelationshipswithsuppliers,customers,andgovernmentagencies,whichfacilitatessmoothbusinessoperations.Forinstance,strongpartnershipswithsuppliersensurestablematerialsupply,especiallyintimesofmarketfluctuations.Moreover,Chinesecompaniesarepayingmoreattentiontotheircorporatesocialresponsibilitiesandintegratingbusinesssuccesswithbroadersocietalgoals.ManyChinesefirmsincreasinglyembrace“sharedprosperity”orgreendevelopment,aligningbusinessstrategieswithgovernmentprioritiesandsocietalexpectations.Inconclusion,thecombinationofculturalvalues,adaptivestrategies,relationshipfocus,andsocialresponsibilitymakesChinesebusinessmanagementmodelsuniqueandeffectiveintheglobalmarket.TextBI．SpeakingThefollowingaresometipsfororganizingthegrouppresentationofaPESTanalysis.GroupRoles:1groupleader(moderator),4members(P/E/S/Tfactors)Duration:25-30minutes(5minutespermember+5minutesQ&Aetc.)Structuralarrangement:OpeningremarksandintroductionbytheGroupleader(2minutes)PresentingpoliticalfactorsbyMember1(5minutes)PresentingeconomicfactorsbyMember2(5minutes)PresentingsocialfactorsbyMember3(5minutes)PresentingtechnologicalfactorsbyMember4(5minutes)ConcludingthepresentationbytheGroupleader(3-5minutes)Q&Asession(2-3minutes)Othergeneraltips:Visualsovertext:Usecharts,icons,andshortbulletpoints(max5perslide).Consistency:Sticktothecompany’sbrandcolors(orange/white)forPPTdesign.Timekeeping:Allocate5minutesperpresenter;useatimertoavoidoverruns.Engagement:Askrhetoricalquestionstoconnectwiththeaudience.Herearesomemoreexpressions.OtherExpressionsexplorepartnerships探索合作伙伴关系solidifyitspositionasagloballeader巩固其作为全球领导者的地位localizeproductionandsourcing本地化生产和采购consumer-centricstrategy以消费者为中心的战略purchasesubsidies购置补贴benefitfromfavorablegovernmentpolicies受益于有利的政府政策setacleardirectionforthedevelopmentof...为……的发展设定明确的方向providetaxcredits提供税收抵免recognizethechangingconsumerpreferencesandtailoritsproductofferingsaccordingly认识到消费者偏好的变化，并据此调整产品供应managerawmaterialcosts管理原材料成本II．WritingReferenceanswers：APESTAnalysisofBYDIntroductionBYD,aleadingplayerinelectricvehicles(EVs)andnewenergytechnologies,operateswithinacomplexmacro-environmentshapedbypolitical,economic,social,andtechnologicalfactors.ThisPESTanalysishighlightsthekeyexternalfactorsinfluencingitsstrategiesandperformance.PoliticalFactorsGovernmentpoliciesstronglyinfluenceBYD’strajectory.InChina,EVpurchasesubsidiesandtaxbreakshavebeenvital,boostingearlymarketpenetration.TheUSInflationReductionActofferstaxcreditsforEVmanufacturing,aidingBYD’sexpansionplansthere.EuropeannationswithstrictcarbontargetsprovidefertilegroundwithEVincentivesandcharginginfrastructureinvestments.However,tradebarriersposechallenges.TheEU’stariffsonChineseEVsandtheUS’stariffsdriveBYD’slocalproductionstrategy,suchasitsHungaryplant,tobypasscosts.GeopoliticaltensionsbetweentheUSandChinaalsoposeriskstoBYD’ssupplychainandmarketaccess.EconomicFactorsEconomicconditionsdirectlyimpactdemand.Emergingeconomieswithgrowingmiddleclasses,likeIndiaandSoutheastAsiannations,seekaffordableeco-friendlytransport,creatingopportunitiesforBYD.ExchangeratefluctuationsaffectBYD’sglobalfinances.Astrongyuanraisesexportprices,weakeningcompetitiveness,whileaweakeryuancutsexportcostsbutincreasesimportedrawmaterialexpenses.Rawmaterialcosts,particularlyforbatterymetals(lithium,cobalt,nickel),arecritical.SocialFactorsRisingenvironmentalawarenessalignswithBYD’sfocusonEVsandrenewables,asconsumersincreasinglyprioritizesustainability.Tech-savvyconsumers,especiallyyoungergenerationsindevelopedmarkets,valueBYD’sinnovationsinbatteriesandconnectivity,drivingdemandforitshigh-performance,smartvehicles.Urbanizationandpopulationgrowthboosttransportationneeds.Citiesgrapplingwithcongestionandpollutionfavorelectrictransit,makingBYD’selectricbusespopularinglobalurbansystems,capitalizingontheshifttowardsustainablepublictransport.TechnologicalFactorsBYDleadsinbatterytech,exemplifiedbyitsBladeBattery,whichofferssuperiorsafety,range,andenergydensity,givingitamarketedge.Advancesinelectricdrivetrainsenhanceefficiency,withseamlessintegrationofbatteries,motors,andcontrolsensuringreliable,high-performingvehicles.InvestmentsinautopilotandconnectivitykeepBYDcompetitive.Thesetechnologiesmeetgrowingdemandforsmart,safevehicles,positioningthecompanyforfuturegrowthastheindustryevolves.ConclusionBYDbenefitsfromsupportivepolicies,eco-consciousconsumers,andtechnologicalinnovation.However,itfacestradebarriers,economicvolatility,andcompetitivepressures.NavigatingthesefactorsstrategicallyishelpfulforitscontinuedsuccessintheglobalEVmarket.Unit4Money&InvestmentLead-in1.MoneyCanBeAnythingInancienttimes,everythingwasmuchmorecomplicated.Goodsofeverydaylifeorpreciousobjectswereusedasameansofpaymentandexchangethen.Andnaturally,thereweredifferentthingsindemandindifferentplacesandatdifferenttimes.Drilledstoneaxefrom(Germany)fromtheNeolithicperiodfromabout5000–2000BCInthecavesofwesternEurope,ourancestorsusedlittlestoneaxesforpayments.Piecesofsilverofthe18thEgyptiandynastyfromthe14thcenturyBC,foundintheel-AmarnahoardTheancientEgyptianspaidwithpiecesofsilverandgold.Hollowspadecoinkongshoubu,mintedinancientChinaduringtheZhoudynastyaround524-380BCInChina,spadeandknifecoinsweredevelopedfromrealtoolsandweapons.Cowonared-figuredstamnosfromabout480BCManyearlyculturespaidwithslavesorcattle.InancientGreece,atrivetforcookingcostatleast12cows;forslavesandwomen,between4and20cowshadtobepaid.Romansilveringot,stampedasameansofpaymentbefore418ADIngotsfromsilverorbronzewereverypopularasmoneyinmanypartsoftheworld.BeaverpeltTheVikingstradedslaves,honey,wood,orfurs.ThenativeCanadiansexchangedbeaverpeltsforthegoodsofthewhitemen.CacaobeansTheAztecspaidwithcacaobeans:for100beansonecouldgetarabbit,for200aWhaletoothmoneyTambuafromtheFijiIslandsAnythingcouldbeOnFijiIslandsitweretheteethofapotwhale;inotherplacesfeatherswereconsideredasorthetipsofelephanttails.Cowrieshell(Cypraeamoneta)Andthentherewasthecowrie,themostimportantandwidelyusednaturalmoneyofalltimes.CowrieshellswereusedinChinaovermanycenturies,andfromtherespreadtoIndiaintothepacificroomtoArabiaandAfrica.InsomeAfricanregions,cowrieswereuseduntilthemid-20thcentury.MoneyasCoinedMoneyForalongtime,moneybasicallymeantcoinedCoinshadavalueofthemselves,becausetheyweremadefrompreciousmetals.Thiswasavaluepeoplecouldcounton.Drachma,mintedbythecityofAthensabout465-454BCTheGreekcity-statesissuedsilvercoins.The“owls”fromAthensbecameaninternationallypopulartradecoin.Denarius,mintedundertheRomanimperatorGaiusJuliusCaesar(100-44BC)in44BCTheRomanslearnedfromAlexanderandstrucktheirdenariiwithpreciousmetalsfromtheconqueredprovinces.JuliusCaesarsecuredtheloyaltyofhisfollowerswiththebootyfromsubjugatedGaul.Wuzhucoin,mintedundertheChineseHanemperorWudiInthemeantime,theChineseemperorsalreadyissuedthecoinsthatweretoremainincirculationinChinaoverthenext2,000yearsalmostunchanged:thecashcoins.Chinesestringof100cashWiththepassingoftime,thesecashcoinsbecamesmallerandthinnerandthusalsolowerinvalue.Becauseofthis,thecoinsweretraditionallystrunginlargequantitiesonstrings,asthiswasapracticalwaytotransportthem.Pfennig,mintedundertheFrankishkingCharlemagne(768-814)after793IntheFrankishempire,Charlemagneestablishedaunifiedcoinagesystem.HissilverpfennigsremainedthemostimportantcoinsformerchantsandcitizensuntiltheendoftheMiddleAges.Inmanyways,itfunctionedlikeacommonEuropeancurrency,longbeforetheeuro.Realdeaocho(peso),mintedintheSpanishEmpire,followingamonetaryreformin1497Fromthe16thcentury,hugemassesofpreciousmetalsflowedfromtheNewWorldtoEurope.InthemintsofPotosí,MexicoCity,andLima,thesilverminedbyIndianslaveswascoinedandshippedbytheSpanishsilverfleettotheOldWorld.Here,thecirculationofcoinsrose,thuscausinganinflation.Dollar,mintedbytheUnitedStatesofAmericain1792Thankstotheirintrinsicvalue,goldandsilvercoinscouldcirculateregardlessofnationalorculturalborders.ThewidestspreadcoinwastheSpanishpeso,fromwhichdevelopedtheAmericandollar,theChineseyuan,ortheTurkishkurush.Plastic,andVirtualMoneyInChina,wherecoinshadlittlenoteworthyintrinsicvalue,papermoneycameintouseasearlyasthe11thcentury.Itseemstohavebeenintroducedinthecourseofawarasemergencymoney,becausecoinedmoneyhadbecomescarce.1000-ch’iennote(DaMingBaochao),issuedbytheChineseMingemperorHongwu(1368-1398)ThisChinesebillfromthe14thcenturyistheoldestsurvivingbanknoteweknowof.Inthecenteritbearsanillustrationofapileofcoinsforwhichitcouldbeexchanged:thenotewasworth10stringsofcoppercoins,with100coppercoinsineachstring.In1375,afteratheChineseemperorintroducedapapercurrencytostimulatetheTheresult,however,wasinflation,asofteninthehistoryofpaperBillofexchangeover380poundstobepaidoutinthreemonths’timeinBristol,drawninHamburgin1724Billsofexchangeweredevelopedinthe14thcenturybyItalianbankinghousestobypassthetransportoflargesumsofgoldandsilvercoins.Suchbillshaveenduredasameansofprovidingcreditandmakingpaymentsoverlongdistances.Writteninstructionstoanagentauthorizepaymenttoaparticularpersonataspecifiedfuturedate.Englishexchequerbillsover100pounds,issuedin1720ExchequerbillswereintroducedinEnglandin1696asaformofpublicborrowing.Theywereissuedinreturnformoneyadvancedtothegovernment.Fromtheearly18thcentury,thebillswereacceptedinpaymentoftaxesandcouldberedeemedattheBankofEngland.1-Dollarnote,issuedbytheUnitedStatesofAmericain1963AftertheSecondWorldWar,theworldeconomyenteredanewphase.In1944atBrettonWoods,therepresentativesof44statesagreeduponasystemoffixedexchangerates.Theplanwastoestablishafreeworldtradebasedonthedollar,whichwaslinkedtogoldatafixedrate.Asaresult,theAmericandollarbecametheworld’skeycurrency.EurochequeorECcardIn1968,thefirstECcardscameintouse,andinthe1980sthefirstcashmachineswereinstalled.Sincethen,theuseofbanknoteshasdeclinedsignificantly,beingreplacedbyrechargeablecashcards,ECcards,orcreditcards.NASDAQ,thefirstelectronicstockmarket,foundedin1971Ontheonehand,wespendmoreandmoreyetontheotherhand,wehavelessandlessofitinourwalletsandpurses.Instead,mind-bogglingsumsflow