Proposed texts (you too can propose texts, videos...) Broaden your perspective & earn extra credit by taking part in a discussion during my office hours: 1) Suggest the time and participants 2) Visit 4 times (discuss 4 topics) + impress me → no oral exam Proposed texts (you too can propose texts, videos...) 1 The Corporation: The Pathological Pursuit of Profit and Power (Excerpt from the book by Joel Bakan, later turned into a film), RB, p 44 2 The Pendulum of Control (Excerpt from Schiller’s Essentials of Economics), RB, p 45 3 Survey of the 20th century: Freedom from Want?, RB, p 26-8 4 The Untouchables (handout provided by teacher) 5 Is China running out of workers? http://www.forbes.com/sites/gordonchang/2013/01/20/is-china-running-out-of-workers/ http://online.wsj.com/articles/SB10001424052702304607104579211351308910382 ... More topics will be added as we progress through the course.

Revision: Types of private businesses → RB, p 50 sole trader 2) partnership 3) losses 4) liability 5) bankruptcy 6) corporations 7) creditors 8) shares 9) prospectus 10) registered → RB, p 51 BUSINESS ORGANIZATIONS IN CROATIA → RB, pp 52-3 (do the tasks)

What is nationalization? 1 F 2 E 3 A 4 C 5 B 6 D • What is privatization? • Is this a new idea? • How is denationalization accomplished? • Why privatize? • Does it work? • What’s the downside? → RB, p 42: What is privatization, anyway? Skim to match questions to paragraphs

Vocabulary focus (scan and explain) Scan the text for the following words/phrases: Group 2 impact invigorate wring argue thus layoffs proponents Group 1 to exercise control leap voucher oft-stated endeavoured highly praised vested pension interest Explain: Since buyers are willing to pay more for a monopoly, sometimes the goal of raising money gets in the way of making a company more efficient. HW: Read the whole text and answer the questions in writing.

Arguments for and against privatization → RB, p 43 Number the pairs of paragraphs Read the arguments for and against privatisation (side by side) Establish the main topic in each section:

Two sides of the same coin Match each pair to a topic / heading: control revenue disciplines of the market and efficiency shareholders vs. stakeholders diversification of business activities trade union power

Privatization: two sides of the same coin Privatisation-related topics : disciplines of the market & efficiency diversification of business activities 3 control 4 trade union power 5 shareholders vs. stakeholders 6 revenue HOMEWORK: get ready to... ... discuss each pair (contrast, concession) ... say which argument do you think is more convincing?

LINKING WORDS: Additional information: and, furthermore, moreover, in addition to, next, then, besides Reason: because, because of, due to, owing to, as, since, therefore, that’s why Contrast: on the other hand, on the contrary, in contrast, although, yet, but, while, whereas Concession: (even) though, anyway, however, nevertheless, in any case, in spite of that, despite Purpose: in order to, so that Result/Consequence: consequently, as a result, therefore, so, thus Giving example: for example, for instance