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
6. 14 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 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 peeptoe 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 peeptoe sandals can draw investors as
larger luxury companies confront
slumping demand in Asia.
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 Arts (MA)
 Master of Science (MSc)
e.g. Bachelor
of Economics/Business
Overview

FEB and its organization: the Dean, the Council, departments

People:

Studies: undergraduate, graduate, postgraduate / study programmes:
Economics, Business / full-time, part-time study programme

Majors: e.g. Accounting, Economics, Finance, Informatics,

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.
students:full-time s. /part-time s., junior s./senior s.
faculty (teachers): professors, lecturers, assistants
administrative staff: the Student Administration Office
Macroeconomics, Management, Marketing, Tourism, Trade, ...
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...?
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.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
furniture
cocoa/sugar
chocolate
mechanic’s
Konzum
wood
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.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).
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