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Unit 4Unit 4Unit 4Unit 4Unit 4Unit 4Everyday Everyday EconomicsEconomicsTo read a short passage about social credit.To listen to a conversation and do some exercises.To read a leaflet about finance management tips for freshmen and learn how to make ends meet as a university student.To learn some terms and know their meanings.To talk about how to manage your finances and maintain a good social credit record.In 2014,the Chinese government officially announced a plan to build a nationally coordinated social credit system.What is the truth about this system?Lets view a short video from CGTN to find out if this system is trustworthy-or not.Credit,or the offering of money loans for repayment,has existed since the Bronze Age.For most of this history,lenders relied mainly on their subjective judgement when deciding whether or not a borrower was creditworthy.With the development of information technology and data analysis,more and more countries are building their own credit systems with objective credit rating methods.Peoples activities such as credit card payments,loan payments,etc.,are recorded and scored,and will affect their future creditworthiness.social credit1.What other activities may affect peoples credit rating nowadays?Online-shopping record/Driving record/Taking public transport record2.What may be the consequences if one has a poor social credit score?Employment/access to finance/enter into contracts/travelling/booking a hotel/Listen to the conversation and choose the topics discussed.1 The tips to book a good hotel.2 The importance of being creditworthy.3 The origin of the credit system.4 The benefits of a social credit system.5 The cost of having a bad social credit record.Listen again and complete the paragraph.I have been _ on time,returning books to the library _,and using _ properly.As a reward,we didnt have to pay a deposit when _ during our trip to Hangzhou.The hotel is very nice,and its quite near the West Lake.This is just one of the many benefits of the social credit system which enables _ to enjoy a more convenient life _.paying credit card billsin good condition without delaythe shared bicycleswe checked in at a hotelpeople with good social creditat a lower costWang LinNow answer the questions.1 What was the man prohibited from doing and why?He was prohibited from renting an expensive car because the credit system showed that he was a laolai.Tapescript-How is that so?-I saw on TV recently that a man was prohibited from renting an expensive car-because the credit system showed he was a laolai.2 What restrictions are mentioned that are caused by a bad social credit record?Apart from renting expensive cars,they may also find it hard to buy flight tickets or tickets for high-speed rail services,among other things.Many people with poor social credit records like this man have found it hard to buy flight tickets or tickets for high-speed rail services,among other things.3 What could the social credit system contribute to?The social credit system is an encouragement to those who can be relied upon to do the right thing,and the system is an effective way to build a friendly,honest and safe society.-Well I think its definitely an encouragement to those who can be relied upon to do the right thing.-And an effective way to build a friendly,honest and safe society.Complete the boxes with the expressions from the conversation.How did that happen?Whats that?Could you tell me more about it?Let me explain.It enables.How is that so?What does that mean?It means.Its definitely an encouragement to.an effective way to.Ask for clarificationClarifyingHow did that happen?Whats that?Could you tell me more about it?How is that so?What does that mean?Let me explain.It means.Stating advantagesIt enables.Its definitely an encouragement to.an effective way to.Tapescript(You can refer to it if necessary.)(A phone chat between two UK students,one has been in China for some time.)Kelvin:Hi,Sherry,hows everything going?Sherry:Everything is just so much fun!Actually,I went to Hangzhou with Wang Lin last Saturday.We stayed in a fantastic hotel.Kelvin:Really?What was so special about it?Sherry:Well,to start with,when we checked in,they didnt make us pay a deposit!Kelvin:OhHow did that happen?Sherry:It turned out that Wang Lin has a very good social credit record.Kelvin:A social credit record?Whats that?Could you tell me more about it?Sherry:Let me explain.China started to build a social credit system in 2014.And living in a city,youd have lots of activities in your daily life that went onto your social credit record,such as paying credit card bills on time,returning books to the library in good condition without delay,using the shared bicycles properly,and so on.All these actions will accumulate good credit in the social credit system.Wang Lin has done well in all these aspects,and that brings her many benefits.Kelvin:Fabulous!It sounds as if the social credit score has turned into money!Sherry:Yes,it shows people how reliable and creditworthy you are.And it enables people with good social credit to enjoy a more convenient life at a lower cost.However,people with bad social credit could suffer.Kelvin:How is that so?Sherry:I saw on TV recently that a man was prohibited from renting an expensive car because the credit system showed he was a laolai!Kelvin:A laolai?What does that mean?Sherry:It means hes the sort of person who cant be relied on to repay his loans.Kelvin:Well then,it was his own fault that he didnt get the car.Maybe now he realize just how important it is to be creditworthy and behave properly.Sherry:Absolutely.Many people with poor social credit records like this man have found it hard to buy flight tickets or tickets for high-speed rail services,among other things.Kelvin:Well I think its definitely an encouragement to those who can be relied upon to do the right thing.Sherry:And an effective way to build a friendly,honest and safe society.1 What suggestions are given to help students save money?Find the banking services that meet your needs and will help you save money.Save a small amount of money each week from now on,and increase it each month.Read the leaflet on page 43 and answer the questions.Pay attention to the words and expressions in bold.3 What do you need to bear in mind when making extra money?Make sure it doesnt interfere with your studies,and pay any tax as required by law.2 What do you need to pay attention to when spending money?Be careful when opening your first credit card account.Look for a card with good benefits and no annual fees.Always make payments on time.Make rational spending choices and never exceed your agreed credit limit.Avoid luxuries so that you dont go into debt.Match the words and expressions in Activity 8 to their meanings.1 _:the amount of money needed or available for certain purposes2 _:to have enough money to buy what you need to live3 _:to be out of debt or financial difficultybudgetmake ends meetstay afloat budget,make ends meet,stay afloat,building credit,annual fee,interest,tax,agreed credit limit,go into debt4 _:money paid to the government,usually a percentage of personal income or of the cost of goods5 _:to accumulate the quality of being creditworthy6 _:the maximum amount of money that may be borrowed under a credit arrangementtaxbuild credit budget,make ends meet,stay afloat,building credit,annual fee,interest,tax,agreed credit limit,go into debtagreed credit limit7 _:to get into the state of owing money8 _:costs automatically charged once a year to your credit card account9 _:the amount of money charged by a bank when you borrow money,or paid to you when you keep money in an accountgo into debtannual feeinterest budget,make ends meet,stay afloat,building credit,annual fee,interest,tax,agreed credit limit,go into debtNow Think about other words and expressions associated with managing personal finances.open/close a bank account 开开/关一个银行账户关一个银行账户credit crisis 信用危机信用危机pay off debts 付清欠债付清欠债insurance products 保险产品保险产品monthly statement 月结单月结单/账单账单available credit 可用信用额度可用信用额度Give suggestions on how to manage your finances and maintain a good social credit record using the words and expressions in this section.buy the things you need not you wantalways take notes about money-spendingalways keep some savingsNow talk about how effectively you and your partner have used the words and expressions in this section and suggest ways to improve.1.Write 4 sentences about how you use your money in daily life;2.Think of 3 ways on how to improve personal credit.
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