Revision

Course material in the 1st Progress test ( TOPICS & Skills ) University Essentials - RB Economics and Economy – RB Types of Economies – RB & MK, U 22 –(Role of Government & Taxation) Three Sectors of the Economy – RB & MK, U7 The Public Sector and the Private Sector - RB –(Privatisation) Skills: Note-making and/or slide-making Paragraphing Presenting (Signalling devices)

Types of exercises you can expect: Read the definition/explanation and provide the right term Use the given nouns and verbs to create meaningful sentences Match words to create strong word partherships and use the expressions to write a paragraph about a (given) topic Find the odd one out & explain your answer Complete the text by filling in the missing words Read the text (supplied) and prepare well-structure notes Fill in the missing prepositions Compare X and Y (paragraph) Discuss advantages and disadvantages of X (paragraph) Group words and expressions according to topics Translate (key terms) into or from Croatian

Two sides of the same coin RB, p 28: Arguments for and against privatisation disciplines of the market & efficiency diversification of business activities 3 control 4 trade union power 5 shareholders vs. stakeholders 6 revenue Discuss each pair (contrast, concession) Which argument do you think is more convincing? HW, RB: p 29 Read, look up new words and fill in

Revision Paragraphing Weight: ca 5% in this PT + 5% in the next (1st PT + 2nd PT = 100 pts A = %) Elements: –Topic sentence –Logical structure –Use of connectors –Content

Revision: Paragraphing A rguments for and against privatisation, RB p 28 Revision: paragraphing Present arguments for and against privatisation, concluding with your opinion. Include 3 arguments for and 3 against. E.g. “Privatisation may change a society dramatically. Firstly,.... because... Furthermore,... Finally.... On the other hand,.... It is also true that... For example... Moreover,.... Nevertheless... To conclude...

MAKE MEANINGFUL SENTENCES – CONNECT THE WORDS Eg. DEAN / RUN: Deans run most institutions of higher education Ph.D. - EARN ECONOMICS - STUDY MARKET ECONOMY – ALLOCATE GOVERNMENT - INTERVENE PUBLIC GOODS - PROVIDE QUARRYING – BE NATIONALISATION – TRANSFER SOLE TRADER – SET UP PARTNERSHIP – SPECIALIZE ARTICLES OF ASSOCIATION – DRAW UP LIMITED LIABILITY - INVEST

CHALLENGE! Open to: ALL (TEAMS or INDIVIDUALS) Task: MIND MAP one of the following topics: - Types of economic systems - Economic sectors & employment - Public and private sector - Types of businesses in the private sector Get input on mind-mapping – on my web site! 1st deadline: 25 November 2nd deadline: 2 December

IN WHAT CONTEXT WERE THE FOLLOWING MENTIONED IN CLASS/MATERIAL? China Chile South Korea Bangalore Developed Western countries

IN WHAT CONTEXT WERE THE FOLLOWING MENTIONED IN CLASS/MATERIAL? Adam Smith Karl Marx John K. Galbraith Milton Friedman Franklin Roosevelt

IN WHAT CONTEXT WERE THE FOLLOWING MENTIONED IN CLASS/MATERIAL? Outsourcing Changing patterns of human consumption Catering Vaccination Utilities

IN WHAT CONTEXT WERE THE FOLLOWING MENTIONED IN CLASS/MATERIAL? Credits Autonomy Common market for universities Public funding Tuition fees Birthplace of higher education

IN WHAT CONTEXT WERE THE FOLLOWING MENTIONED IN CLASS/MATERIAL? Allocating resources in the public sector Ensuring fair competition Providing public goods for free Co-ordinating the whole production process Providing minimum standard of living Cross the odd one out Explain your choice

IN WHAT CONTEXT WERE THE FOLLOWING MENTIONED IN CLASS/MATERIAL? International Applied Booming Black Fragile Cross the odd one out! Explain your choice!

Cross the odd one out Quarrying Construction Mining Oil digging Fishing Explain your choice

Cross the odd one out Automatic allocation of resources Equal distribution of income Competition Privately owned businesses Public interest sacrificed And explain your choice!

Cross the odd one out Public limited company Private limited company Public corporation Incorporated businesses Shareholders And explain your choice!

Production of goods and __________ ________ sector Mixed Enterprise PPP ________ sector Unlimited Businesses (___________) Limited Businesses (__________) Public __________ or Nationalized Industry _______ Authorities _____________ Company (Ltd.) _____________ Company (PLC) _____trader Partnership

Production of goods and services Private sector Mixed Enterprise PPP Public sector Unlimited Businesses Limited businesses Public Corporation or Nationalized Industry Local Authorities Private Limited Company (Ltd.) Public Limited Company (PLC) Sole trader Partnership

WHICH TYPE OF PRIVATE BUSINESS? owned by one person only (may employ others) possibility of takeovers limited liablity for debts farmers, small scale manufacturers, retailers, hairdressers… profits paid as dividend payments owned by partners shares sold to general public unlimited liability disclosure of accounts profits and losses shared equally direct control of business sole claim on profits

WHICH TYPE OF PRIVATE BUSINESS? owned by one person only (may employ others) SP possibility of takeovers - PLC limited liablity for debts – Ltd. PLC farmers, small scale manufacturers, retailers, hairdressers… - SP profits paid as dividend payments - Ltd. PLC owned by partners - P shares sold to general public - PLC unlimited liability – SP, P disclosure of accounts - PLC profits and losses shared equally - P direct control of business - SP sole claim on profits - SP

Note taking Weight: ca 5% of the grade for written test* Elements: –Layout –Headings – clear structure –Bullets –Abbreviations, symbols –Content * pts = A