INTRODUCTION
How’s your Business English?
• Open a Forex Account and Get 60% Bonus on All Deposits.
• Investors expect a 15% return
• OECD countries spend 1.6% of GDP on higher education
• Trans-Pacific free trade deal agreed
• Obama says Pacific trade deal will 'level the playing field‘
• Twitter names Jack Dorsey permanent CEO
Business English terms?
• 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 terms
• Jimmy Choo Ltd. plans an initial public
offering in London next month, betting that
consumer demand for its $1,995 Lust peeptoe sandals can draw investors as larger
luxury companies confront slumping
demand in Asia.
Source: www.bloomberg.com
These days in Croatia’s business media...
• Podravka preuzima većinski udio u Žitu
• Moramo biti još konkurentniji
• Iz EU fondova stiže još 4 milijarde kuna
• Sisačko-moslavačka županija: Rashodi prevagnuli nad
prihodima
These days in Croatia’s business media...
• Podravka preuzima većinski udio u Žitu
• Moramo biti još konkurentniji
• Iz EU fondova stiže još 4 milijarde kuna
• Sisačko-moslavačka županija: Rashodi prevagnuli nad
prihodima
These days in Croatia’s business media...
• Podravka acquires majority stake in Žito
• We have to be even more competitive
• 4 billion kuna more from EU funds
• Sisačko-moslavačka county: Expenditure
exceeds revenue
Economic affairs in political debates
1.
2.
3.
4.
5.
6.
7.
8.
„izvoz na svjetska tržišta”
„više mirovine”
„stabilan tečaj”
„rast BDP-a”
„smanjenje PDV-a”
„pomoć malim i srednjim poduzetnicima”
„nova ulaganja”
„niži porez na dohodak”
Does this help?
markets
PIT
GDP
global
exchange rate
growth
SME
investments
cuts
pension
Economic affairs in political debates
•
•
•
•
•
•
•
•
‘exports to global markets’
‘higher pensions’
‘stable exchange rate’
‘GDP growth’
‘VAT cuts’
‘assistance to SMEs’
‘new investments’
‘lower personal income tax’
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 headlines
• Twitter plans layoffs next week
• Ferrari’s US IPO to raise as much as $900m
• Wal-Mart Changes CFO
Source: Reuters
Business headlines
1. U 2015. crowdfunding na svjetskoj razini
premašit će 34 milijarde dolara
2. Slaba potražnja i niske kamate
3. Dobit povećana 113,4 posto
4. Sanacija Jadranske banke:banka ostvaruje
gubitke, imovina manja od obveza
5. Hrvatsko devizno tržište: lagani rast kune
6. Tiskara Vjesnik: glavna skupština 3. studenoga
Use these words for translation:
currency
losses
bailout
up
assets
AGM
profits
market
rehabilitation
liabilities
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
(?)
• Natural sciences using
quantitative methods (incl. social
sciences?)
• Bachelor of Arts (BA)
• Bachelor of Science (BSc)
• Master of Science (MSc)
• Master of Arts (MA)
of Economics/Business
e.g. Bachelor
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
• 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 or 5+0+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)
Life Long Learning
In order to LLL – Learn how to Learn!!
literacy & numeracy + resourcefulness
reading & critical thinking
writing & speaking
(in an organised manner)
searching for information & knowledge
e.g. internet sources: MOOC, Khan Academy, Ted Talk, …
•
•
•
•
•
•
•
Higher education/ tertiary education
Oxbridge
Enrolment
Degrees
Tuition fees
Research papers
Graduates
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.
2.
3.
4.
5.
6.
ECONOMIC (adj.) 1.relating to or involving economics, money, finance,
2.which produces enough profit to make it worth continuing with
ECONOMIST (n.) someone who studies the way in which wealth is produced
and used in an area
ECONOMIZE (v.)to reduce the amount of time, money, goods etc. that you
use
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
ECONOMICAL (adj.)using money, time, goods etc. carefully and without
wasting any
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.14)
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
mechanic’s
cocoa/sugar
furniture
wood
rubber
Konzum
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
*Quaternary sector :
ICT, consultancy, R&D, education, culture, …
(see MacKenzie, 2010, p.43, 44)
Words, words, words (RB: p.14)
•
•
•
•
•
•
•
•
•
•
•
Industry vs. Manufacturing industry
Consumer goods (1)
Gravitate (1)
Labour costs (1)
“Rust-belt” (2)
Rivals (2)
Retrain (3)
Outsourcing (3)
Relocate (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.
?
„… a change in the pattern of human consumption….”
(J.K. Galbraith, RB: P.23)
Homework (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.45
1. 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).
RB:p.23
3. Read the text and answer the quest.