INTRODUCTION

A few business headlines  Hewlett-Packard plans to split into two companies: WSJ report  Austerity versus growth at G20/IMF  Greece sees 2015 budget surplus close to bailout target Source: Reuters

Business English terms  Hewlett-Packard plans to split into two companies: WSJ report  Austerity versus growth at G20/IMF  Greece sees 2015 budget surplus close to bailout target Source: Reuters

These days in Croatia’s business media... 1.Subvencionirana kamata za male poduzetnike 2.U rujnu osnovano 1046 poslovnih subjekata 3.Javna potrošnja Srbije 45% BDP-a 4.Kuna oslabila prema svim valutama 5.Miljenko Živaljić na čelo Zagrebačke banke milijuna eura čistog gubitka 7. Hrvatska treba podići konkurentnost Source: Privredni vjesnik, 6 Oct 2014

Does this help?  Subsidised  Interest  Small businesses  Business entities  Public spending  GDP  Depreciate  Currencies  CEO  Net loss  Competitiveness

These days in Croatia’s business media...  Subvencionirana kamata za male poduzetnike  U rujnu osnovano 1046 poslovnih subjekata  Javna potrošnja Srbije 45% BDP-a  Kuna oslabila prema svim valutama  Miljenko Živaljić na čelo Zagrebačke banke  14 milijuna eura čistog gubitka  Hrvatska treba podići konkurentnost Source: Privredni vjesnik, 6 Oct 2014

Business English also in Croatian  ICT će transformirati hrvatski biznis (Jutarnji list)  Ulaganje u hrvatski start-up (Jutarnji list)  Plodine i Tommy imaju najveću EBITDA maržu (Večernji list)

Business English also in Croatian  ICT će transformirati hrvatski biznis (Jutarnji list)  Ulaganje u hrvatski start-up (Jutarnji list)  Plodine i Tommy imaju najveću EBITDA maržu (Večernji list)

What is behind these headlines? Slovenia Allows Agrokor to Acquire Biggest Balkan Retail Chain Jimmy Choo Announces an October IPO

What is behind these headlines? Slovenia Allows Agrokor to Acquire Biggest Balkan Retail Chain Jimmy Choo Announce s an October IPO

Business English words?  Jimmy Choo Ltd. plans an initial public offering in London next month, betting that consumer demand for its $1,995 Lust peep- toe sandals can draw investors as larger luxury companies confront slumping demand in Asia. Source:

Business English words  Jimmy Choo Ltd. plans an initial public offering in London next month, betting that consumer demand for its $1,995 Lust peep- toe sandals can draw investors as larger luxury companies confront slumping demand in Asia. Source:

UNIVERSITY ESSENTIALS  name  people  school organization  studies (degrees, study programmes, majors, courses, exams)

Degrees (academic titles) 3 degrees (first, second, third) 1.bachelor’s degree (3 or 4 y. of study) 2.master’s degree (min.5 y of study) 3.doctor’s degree, PhD (min.8y)

Degrees (cont.) I am studying for a degree in economics/business He received his MA degree from the University of Zagreb. She has a MSc in biology. I thought she had a PhD.

Prepositions? I am studying... a degree in economics/business He received his MA degree... the University of Zagreb. She has a MSc... biology. I thought she had a PhD.

Prepositions I am studying for a degree in economics/business He received his MA degree from the University of Zagreb. She has a MSc in biology. I thought she had a Ph.D..

Artsvs.Science  Arts, humanities, social sciences (?)  Bachelor of Arts (BA)  Master of Arts (MA) e.g. Bachelor  Natural sciences using quantitative methods (incl. social sciences?)  Bachelor of Science (BSc)  Master of Science (MSc) of Economics/Business

Overview  FEB and its organization: the Dean, the Council, departments  People: students:full-time s. /part-time s., junior s./senior s. faculty (teachers): professors, lecturers, assistants administrative staff: the Student Administration Office  Studies: undergraduate, graduate, postgraduate / study programmes: Economics, Business / full-time, part-time study programme  Majors: e.g. Accounting, Economics, Finance, Informatics, Macroeconomics, Management, Marketing, Tourism, Trade,...  Courses:curriculum, syllabus, compulsory/elective/optional c.  Exams: preliminary e., final (comprehensive) e., sign up (apply for) an exam, take an exam, sit an exam, pass an exam, fail an exam.

The Bologna System  3y+2y+3y programmes (or 4+1+3)  European Credit Transfer System (ECTS)  1 ECTS credit = work hours  Diploma Supplement

The Bologna reform General aims:  Mobility (course comparablity)  Employability  Competitiveness The European dimension (e.g. 2+1 languages)

What is the difference between...? ECONOMIC ECONOMIZE ECONOMICAL ECONOMICS ECONOMIST ECONOMY

ECONOMIZE, ECONOMICAL, ECONOMIC, ECONOMICS, ECONOMIST, ECONOMY 1.…………………………… (adj.) 1.relating to or involving economics, money, finance, 2.which produces enough profit to make it worth continuing with 2.……………………………(n.) someone who studies the way in which wealth is produced and used in an area 3.…………………………… (v.)to reduce the amount of time, money, goods etc. that you use 4.…………………………… (n.)1.the system by which a country’s goods and services are produced and used, or a country considered in this way, 2.the careful use of money, goods, time etc. so that nothing is wasted, 3.a way of spending less money 5.…………………………… (adj.)using money, time, goods etc. carefully and without wasting any 6.…………………………… (n.) the study of the way in which wealth is produced and used

1.ECONOMIC (adj.) 1.relating to or involving economics, money, finance, 2.which produces enough profit to make it worth continuing with 2.ECONOMIST (n.) someone who studies the way in which wealth is produced and used in an area 3.ECONOMIZE (v.)to reduce the amount of time, money, goods etc. that you use 4.ECONOMY (n.)1.the system by which a country’s goods and services are produced and used, or a country considered in this way, 2.the careful use of money, goods, time etc. so that nothing is wasted, 3.a way of spending less money 5.ECONOMICAL (adj.)using money, time, goods etc. carefully and without wasting any 6.ECONOMICS (n.) the study of the way in which wealth is produced and used

ECONOMIC, ECONOMIZE, ECONOMICAL, ECONOMICS, ECONOMIST, ECONOMY 1.The country is facing a severe.... crisis. 2.He expects Europe’s to grow faster. 3.This system was extremely because it ran on half-price electricity is the oldest in social sciences. 5.What has gone wrong with the system? 6.Some analysis is required here. 7.Strikes were damaging the country’s She has a degree in

RB: ex.III (p.11) 1.The country is facing a severe ECONOMIC crisis. 2.He expects Europe’s ECONOMY to grow faster. 3.This system was extremely ECONOMICAL because it ran on half-price electricity. 4.ECONOMICS is the oldest in social sciences. 5.What has gone wrong with the ECONOMIC system? 6.Some ECONOMIC analysis is required here. 7.Strikes were damaging the country’s ECONOMY. 8.She has a degree in ECONOMICS.

Group the following: IKEAtyrechocolate furnituremechanic’s wood cocoa/sugar Konzum rubber

Different sectors of the economy PRIMARY SECTORSECONDARY SECTORTERTIARY SECTOR Cocoa/SugarChocolateKonzum WoodFurnitureIKEA RubberTyreMechanic’s

Different Sectors of the Economy  Primary  Secondary  Tertiary *Quartenary sector : ICT, consultancy, R&D, education, culture, … (see MacKenzie, 2010, pp.43, 44)

Words, words, words (RB: p.24)  Industry vs. Manufacturing industry  Consumer goods  Gravitate  Labour costs  “Rust-belt”  Retrain  Outsourcing  Counterpart  A fraction of salary

Words, words, words (RB: p.24)  Industry vs. Manufacturing industry  Consumer goods (1)  Gravitate (1)  Labour costs (1)  “Rust-belt” (2)  Retrain (3)  Outsourcing (3)  Counterpart (3)  A fraction of salary (3)

RB: p.24 1.Britain led the revolution between the 1750s and mid 19th c. 2.But, today, gravitates to countries with lower costs. 3.This means that many companies have some of their activities elsewhere. 4.Some workers therefore need to or work in......, which is not safe either. 5.All this may lead to high in the developed world.

Words, words, words (MK: p.45) heavy industry services: accountants, lawyers, marketers, advertisers, real estate, entertainment, IT, ICT, R&D advanced countries labour costs expertise higher education strengths

Assignments: MK Decide which arguments are in favour of manufacturing and which are in favour of services. 2. Make one short sentence to summarise each argument (1-7).