1. Višnja Kabalin Borenić
English for Business 1
Faculty of Economics and Business
Undergraduate Professional Study Programme
Course teacher:
Višnja Kabalin Borenić

2. Contact information: Višnja Kabalin Borenić
Office hours:
Tuesday: 10:00-12:00
Friday: – 15.30
Office 16 (6 J.F. Kennedy Square)
Webpage: faculty webpage
Google classroom code: mnlfipt

3. REQUIRED LITERATURE English for Business
(coursebook for English for Business 1, 2 and 3)
Pls, get it from EFZG skriptarnica ASAP

4. COURSE REQUIREMENTS
regular attendance: If you want to take the progress test (predrok), you cannot miss more than 4 classes. (1 day = 3 classes)
active in-class participation
passing progress test or exam.

5. TWO WAYS TO GET A GRADE
1) PROGRESS TESTING - BEFORE REGULAR EXAM DATES
regular attendance
active class participation
progress test (minimum 51%)
oral exam
Final grade = written test + oral test + class participation

6. 2) REGULAR EXAM DATES
final comprehensive written test (regular exam period)
final comprehensive oral exam (regular exam period)

7. Classes:
15, 22, 29 March, 5 April
15:00 – 16:30
16:45 – 18:00
18:15 – 19:30
Progress test 1: 29 March, 2015 (15.00 – 15.30)
Progress test 2: to be arranged (after 5 April)

8. Production decisions
How do companies decide what to produce? How are such decisions made by the goverments in the case of countries? Think about the history of Croatia and explain if major economic decisions have always been made in the same way? Is it easy to live in Croatia if someone is poor? What happens if someone loses his/her job?

9. ECONOMIC QUESTIONS→TYPE OF ECONOMY
SOME BASIC PREMISES…
Resources are scarce.
Human wants exceed resources.
The allocation of scarce resources depends on a society’s answers to some basic questions.
ECONOMIC QUESTIONS→TYPE OF ECONOMY
What to produce?
How to produce?
For whom to produce?
Why to produce?
MARKET ECONOMY
PLANNED ECONOMY
MIXED ECONOMY

10. Consider the following concepts:
Planned Market
State ownership 
Profit 
Equal distribution 
Satisfying everyone’s needs 
Competition 
Market forces 

11. Unit 1: ECONOMIC SYSTEMS → Read: English for Business, pp 2-5 (EforB)

12. I Which type of economy?
Supply and demand on the market are the only factors that influence what will be produced, how and for whom. ______________________
Some sections of the economy are owned and operated by the state but large portions of business remain in private hands. ______________________
The system in which all economic decisions are planned and controlled from the centre. ______________________

13. II Answer the questions
What do you know about resources and their relationship to human needs and wants?
What are the three basic economic questions?
List some countries that used to have a command economy. Are there any left today?
Which is the most common type of economic system?
What is the welfare state?
What kinds of services can welfare states provide?

14. III Which concepts are defined below?
An organized way in which a state or nation allocates its resources and distributes goods and services in the national community. ___________________
Financial health of a population, as measured by income and consumption of goods and services by individuals or households. ___________________
Forces of supply and demand. ___________________
A type of a state where the government provides a minimum standard of living for everyone. ___________________

15. V Find word partnerships in the text. Supply the missing adjective
f_________________ ability
p___________ economy
p___________ sector
e________________ system
c___________ economy
s________________ resources
m___________ economy
w________________ state

16. VI Fill in the gaps with these verbs: make, pass, distribute, supply, allocate.
Many governments around the world have to ___________ a decision on how to _____________ resources. This means that they have to decide how to ____________ goods and services and whether to ____________ them through the public or private sector.
Another important task of the government is to ____________ laws so that companies and people can feel safe and secure in the country.
→ Homework: E for B, pp 4-5 (IV, VII, VIII & IX)

17. Work in groups: Compare the first two types of economies on the basis of...
Workers’ motivation to work
Choice of products
Quality of products
The existence of a large poor-rich gap

18. How do mixed economies work? Public or private sector?
The two sectors are interconnected!
→ HW: read EforB, p 5

19. Can you think of other examples where public and private sector intermingle? Buying on the internet? How does the private sector finance the public sector? How and why does government help the work of the private sector? Which expressions are these? _s_ a service s_pply and d_m_nd p_rch_s_ goods p_y taxes r_g_l_t_ traffic m_k_ a profit _wn a car c_ntr_b_t_ to the budget HW: Read text on pp 5-6, do exercises I - VI

20. Words and their “cousins” ?
A word family? E.g. PEND (to hang): depend suspend independent pendant suspense pendulum compensation

21. Words belonging to the same word family as “ECONOMY”
economic economical economise economist economics → EforB, p 7-8 a science (n) a scientist (n) connected to money or finance (adj) not wasteful (adj) to save money by using less (v) a manager in a company, or the owner of a firm
economics
economist
economic
economical
economise
businessman

22. Fill in the gaps with the correct form of the words from the previous exercise
1 _________ spend their days doing research on topics such as inflation, unemploment, interest rates, etc. 2 When I get a degree from the Faculty of Economics and Business, I will start my own firm and become a _________. 3 Please turn off the lights when you leave. We need to _________ and stop wasting money. 4 Ivan decided to study _________. In three years he will get a bachelor’s degree. 5 The country’s ________situation is very bad. Unemployment is high, wages are low & there is little demand on the market. 6 The American ________ has started to recover after the recession. 7 My new car is very _________. It uses much less petrol than my old car did.
Economists
businessman
economise
business
economic
economy
economical

23. Unit 2: Sectors of the economy

24. labour-intensive ???
Use your smartphones to check on the meaning and usage of:
Harvest
Consumer goods
Extract
Capital goods
Outsourcing
→ EforB, p 10
I Read the text and say what kind of activities characterize each sector of the economy?

25. Which sectors are of growing importance in Croatia? Why?
Which sectors are becoming less important? Why? Is this a problem?
What happens to workers who used to work in sectors that are disappearing?
Find word partnerships in the text:
1 e________ activity 7 g_________ economy
2 r_________ materials 8 b________ foods
3 c________ goods 9 c________ goods
4 f_________ goods 10 t__________ improvements
5 d_________ countries 11 i________ services
6 d_________ countries 12 f________ consumer
conomic
lobal aw
asic
apital
onsumer
inal
echnological
nformation
eveloped
eveloping
inal

26. Task V
HW: pp tasks II, III, VI, VII, VIII