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

poduzetnike2. U rujnu osnovano 1046 poslovnih

subjekata3. Javna potrošnja Srbije 45% BDP-a4. Kuna oslabila prema svim valutama5. Miljenko Živaljić na čelo Zagrebačke

banke 6.  14 milijuna eura čistog gubitka7.  Hrvatska treba podići konkurentnostSource: 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 konkurentnostSource: 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 Announces 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: www.bloomberg.com

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: www.bloomberg.com

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..

Arts vs. 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, assistantsadministrative 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 = 25-30 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...?

ECONOMICECONOMIZE

ECONOMICALECONOMICS

ECONOMISTECONOMY

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.4. ............ 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 ............8. 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:

IKEA tyre chocolate

furniture mechanic’s wood

cocoa/sugar Konzum rubber

Different sectors of the economy

PRIMARY SECTOR SECONDARY SECTOR TERTIARY SECTOR

Cocoa/Sugar Chocolate Konzum

Wood Furniture IKEA

Rubber Tyre Mechanic’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.451. 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).