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National Economics University
Faculty of foreign languages
Department of business English
REPORT:
Theory and practical application of nominal clauses,
adverbial clauses, direct & indirect speech in finance Supervisor : Pham Thi Thanh Thuy
Group members : Truong Thu Hang (CQ503703)
Luu Dieu Ly (CQ503742)
Pham Thi Kim Chung (CQ503679)_Ha Noi 2010_
OUTLINE

A. Introduction...............................................................................1
B. Development...............................................................................2
I. Literature review..........................................................................2
NOMINAL CLAUSES............................................................................2
ADVERBIAL CLAUSES........................................................................8
DIRECT AND INDIRECT SPEECH...................................................13
III.Practical application................................................................19
1. Contrast the use of nominal clauses and adverbial clauses in finance
...........................................................................................................19
3. Contrast the use of direct speech and indirect speech in finance.. .32
C. Conclusion................................................................................43
D. Appendix .......................................................................44
I. References...................................................................................44

1
2
B. Development
I. Literature review
NOMINAL CLAUSES
1.Definition
A nominal clause is a subordinate clause that functions as a noun
phrase. For example:
“What we are talking about today is the complex sentence.”
“Do you know whether this shirt costs much or not?”
In the above example, what we are talking about today and whether this
shirt costs much or not are nominal clauses and they function as noun phrases. In
details, what we are talking about today functions as a subject and whether this
shirt costs much or not functions as a direct object.
2. Classification
According to syntax, nominal clauses can be divided into two main types:
finite nominal clauses and non-finite nominal clauses. For the finite nominal
clauses, there are four subtypes: that-clause, wh-interrogative clause, yes-no
interrogative clause and nominal relative clause. For the non-finite nominal
clauses, there are three subtypes: to- infinitive nominal clause, V_ing nominal
clause and bare- infinitive nominal clause.
2.1. Finite nominal clauses
a. That- clause
That- clause is made by the conjunction “that” and a clause. For example,
“English is that this course improves.”
When the clause performs function of object or complement, or when the clause
is brief and uncomplicated, the conjunction “that” can be omitted. In this case,
we call it the zero that- clause. For example:
I told him (that) he was wrong.
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if class grammar 1 doesn’t have many boys” but we can not say “She asked me
whether class grammar 1 doesn’t have many boys”. However, we can make it
more reasonable by changing it into “She asked me whether class grammar 1
has many boys or (whether it does) not”.
One more note is that if can not introduce a subject clause. For example,
it is untrue to say “if it is expensive or not doesn’t concern me” because it is
expensive or not functions as a subject here. We can use whether instead.
d. Nominal relative clause
The nominal relative clause is also introduced by a wh-element like wh-
interrogative clause. However, in fact, the nominal relative clause is much closer
to noun phrase status than other nominal clauses are. It can normally be
paraphrased by a noun phrase containing a nominal element & a post modifying
relative clause. For example:
We remember when we first came here.
Whoever told you that was not telling the truth.
Definitely, the nominal relative clause when we first came here can be
paraphrased as the noun phrase the time when we first came here including the
nominal element the time and the post modifying relative clause when we first
came here. Likewise, in the second example, whoever told you that can also be
paraphrased as anyone who told you that.
There is a difference between UNIVERSAL and DEFINITE meaning as
expressed by the wh-form of a relative clause: universal meaning is made by wh-
word +ever (whoever ,whatever, whenever.....), definite meaning is made by wh-
word(who ,what, when..). Coming back to the two example above, the first is
paraphrased in universal term (the time) while the second is paraphrased in
definite term (anyone).
2.2. Non- finite nominal clauses
a. To- infinitive nominal clause
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For the neighbors to sell their house would be a mistake.

3. Function
According to syntax, nominal clauses can be used in 8 functions: subject
(S), direct object (Od), subject complement (Cs), appositive (App), prepositional
complement (Cprep), object complement (Co), adjectival complement (Cadj)
and indirect object (Oi). However, not all the types of nominal clauses can
perform all these functions. In fact, there are some major functions that all types
can perform and some minor functions that are restricted to a certain type only.
3.1. Subject (major function)
Nominal clauses firstly function as grammatical subjects which perform the
action of or act upon the verb. For example, “That ‘Thi No’ gave ‘Chi Pheo’ a
bowl of rice gruel with onions made him fall in love with her”. Easily to see, all
the that- clause functions as the subject that performs the action of making him
fall in love with her.
3.2. Direct object (major function)
Nominal clauses secondly function as direct objects that follow and receive
the action of transitive verbs. For example, “Some teachers had been wondering
if they chose the right career”.
3.3. Subject complement ( major function)
A nominal clause can also perform the function of subject complement in
which it follows copular verbs and describes the grammatical subject. For
example, “The thief will be whoever has blue ink on their hands”. Here the
Wh- interrogative nominal clause functions as the subject complement of the
thief.
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3.4. Appositive (major function)
All types of nominal clause can also functions as an apposition means that
they identify some subjects. For example, “Her dream, to be a famous singer,
was never fulfilled”. In this example, the to- infinitive clause to be a famous
singer identifies the subject her dream and makes it clearer.
3.5. Prepositional complement (minor function)

three types.
2.1. The first type is finite adverbial clauses. In terms of meaning (or semantic
classification of these), there exists eleven types namely:
1. Clauses of time.
2. Clauses of place.
3. Clauses of condition.
4. Clauses of concession.
5. Conditional consessive clauses
6. Clauses of reason or cause.
7. Clauses of circumstance.
8. Clauses of manner
9. Clauses of comparison.
10.Clauses of result.
11.Clauses of proportion and preference.
Now we go to the big more detail:
Subclassification Surbodinators and
joining words
Examples
Clause of time After, before, since,
until, when, while, as
soon/long as, whenever
and so on
When I last saw Chung,
she looked more
beautiful than now.
Clauses of place Where / wherever Where I am study
Grammar lesson I see
many intelligent
students.
Clauses of condition If(positive condition), a) Real condition:

condition: is
clearly expected
that the
condition will
not be fulfilled.
If I were 6 years old, I
would receive a lot of
money. (unreal in
present).
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If we had not passed
the examination, we
would not have sit here
now. (unreal in the
past).
 Unless clauses
are not usually
unreal condition
 If only is to
express a wish:
If only I were beautiful,
I became a Miss
World.
Clauses of concession.
( show contrast between
two circumstances)
Although, though, even
if, even though, while,
whereas
Although I am not

Clauses of manner (Exactly) as, just as Please pay attention as
our presentation is
very interesting.
Clauses of comparison As if, as though He treats me as if he
had never met me
again.
Clauses of result So that, in order that I stand here so that
every students can see
me clearly.
Clause of proportion and
preference.
( show the equivalence or
degree between two
circumstance)
As...so, the more/the
less... the more/ the
less
The more careful I
prepare, the more
confident I feel.
2.2. Non-finite adverbial clauses
a. To-infinitive clauses: often introduced by (in order) to, so as to. infinitives
thus used often function as A purpose:
I come early to prepare for our presentation.
Sometimes, to infinitive can act as A result:
This topic is too difficult to understand.
b. V-ing participle clauses: -ing participle clauses are very common with
subordinator such as while, without, when, etc. in the following:
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A time: some students take notes when listening to our presentation.

has said. Especially, in our writing, what a person says appears within quotation
marks ("...") and should be word for word.
For example: Ly said: “ Today’s lesson is about the complex sentence”.
Or it can be written: “ Today’s lesson is about the complex sentence” She said.
In the example above, “Today’s lesson is about the complex sentence” is
direct speech because it is appeared within quoted mark and it says exactly what
Ly has said.
Indirect speech (also referred to as 'reported speech') refers to a sentence
reporting what someone has said. It is almost always used in spoken English.
For example: Lan said that that day’s lesson was about the complex
sentence.
As you can see, the clause after “That” is indirect speech because it is
reported what Lan has said. Therefore, the tense has been changed to be
suitable with the moment of speaking. In detail, in this context, the moment of
seaking is in the past, so the tense must be changed from the present tense is to
past tense was.
2. Methods of changing from Direct to Indirect speech
There are three main steps of changing from direct to indirect speech:
Change of the verb forms, Change pronouns and pointer word, Clause status.
a. Change the verb forms:
When the reporting verb is in the present tense, there is not any change in
the suborndinate clause in Indirect speech as compared to the independent
clause in Direct speech in terms of tense and aspects form. You can see it clearly
in those examples:
The first example: He says “ my mother is cooking dinner”
He says his mother is cooking dinner.
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The second example: He says “ I drew this picture in the night”
He says he drew that picture in the night.
When the reporting verb is in the past tense (asked/ thought/ wonder…),

It was raining earlier.
past perfect continuous
He said it had been raining
earlier.
past perfect
The play had started when I
past perfect
NO CHANGE POSSIBLE
15
arrived.
past perfect continuous
I'd already been living in London
for five years.
past perfect continuous
NO CHANGE POSSIBLE
Note : The tenses will not change if the statement is still relevant or if it is a
universal truth. We can often choose whether to keep the original tenses or
change them.
For example: The teacher said: “ The earth goes around the sun”
The teacher said that the earth goes around the sun.
Other verb forms also sometimes change:
will
I'll come and see you soon.
would
He said he would come and see me
soon.
can
I can swim under water for
two minutes.
could

this that
this week that week
tomorrow
the following day
the next day
the day after
next week
the following week
the next week
the week after
yesterday
the previous day
the day before
last week
the previous week
the week before
ago
previously
before
2 weeks ago
2 weeks previously
2 weeks before
tonight that night
last Saturday the previous Saturday
17
the Saturday before
next Saturday
the following Saturday
the next Saturday
the Saturday after

indirect speech, you can use the word “ tell”: The monitor told them
to come and sit down
Besides, there are many other verbs we can use apart from said, told and
asked. These include:
accused, admitted, advised, alleged, agreed, apologised, begged, boasted,
complained, denied, explained, implied, invited, offered, ordered,
promised, replied, suggested and thought.
Using them properly can make what you say much more interesting and
informative.
For example: He asked me to come to the party.
He invited me to the party.
He begged me to come to the party.
He ordered me to come to the party.
He advised me to come to the party.
He suggested I should come to the party.
Exclamation → That clause / Wh- clause
In reporting exclamation and wishes, the Indirect Speech is introduced
by some verb expressing Exclamation and Wishes.
For example: Tom said, “ How clever I am? ”
Tom exclaimed that he was very clever.
Or: The teacher said, “ Lan! You have done well” → The techer applauded
Lan, saying that she had done well.
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III.Practical application
1. Contrast the use of nominal clauses and adverbial clauses in
finance
( clauses: nominal clauses; clauses: adverbial clauses)
Articles
Brazil set for interest rate rise
Brazil’s central bank is expected to raise its core interest rate

Consumer price inflation is seen rising to 5.41 per cent a
year, almost a point above the government’s target of 4.5 per
cent.
Henrique Meirelles, central bank governor, in an
unprecedented signal of intent, said on Monday: “In situations
like this one, we need a program of vigorous action.”
His comments caused a spike in interest-rate futures contracts
as many investors who had expected a half or three-quarter
point increase on Wednesday evening began to see a full point
rise as a real possibility.
Some economists believe the central bank should have acted
more quickly as inflationary pressures emerged some months
ago. In a note to clients on Friday, Nick Chamie of RBC
Capital Markets said he expected the actual rate of Brazil’s
economic growth to overtake its potential rate during the
second half of this year. “Given we are six-nine months away
from the output gap closing (according to our estimates) and
finite (clause
of result)
non-finite
(clause of
time)
non- finite
(V_ing cl)
non- finite (to-
infinitive cl)
finite (clause
of reason)
21
monetary policy tends to work with a 12 to 18-month time lag,

adverbial cls/
complex sentences
10 5 6 50% 60%
22
Articles
Experts warn deficit could result in new crisis
Strong majorities of former Republican and Democratic
economic officials forecast the US will suffer another severe
economic crisis unless it takes steps to rein in the country’s
structural fiscal deficits, according to the Peterson Foundation, a
non-partisan body.
The survey, which questioned officials from eight former US
administrations, coincided with the first day’s hearing of Barack
Obama’s bipartisan fiscal commission, which will publish its
proposals in December, shortly after the mid-term congressional
elections.
More than three-quarters of Republicans and Democrats who
were surveyed predicted another big crisis within the next
decade in the absence of tough measures to reverse America’s
deteriorating fiscal outlook.
In contrast to the views of many sitting lawmakers, a strong
majority also agreed that any solution would require both tax
increases and spending cuts.
“For years folks in Washington deferred politically difficult
decisions and avoided telling hard truths about the nature of
the problem,” said Mr Obama yesterday.
“This is going to require people of both parties to come
together and take a hard look at the growing [fiscal] gap.”
Analysis
finite (clause