Revision

Course material in the1st 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 coinRB, p 28: Arguments for and against privatisation• disciplines of the market & efficiency • diversification of business activities3 control4 trade union power5 shareholders vs. stakeholders6 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 = 90-100%)

• Elements:– Topic sentence– Logical structure– Use of connectors– Content

Revision: ParagraphingArguments 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 sectorEnsuring fair competitionProviding public goods for freeCo-ordinating the whole production processProviding minimum standard of living

• Cross the odd one out

• Explain your choice

IN WHAT CONTEXT WERE THE FOLLOWING MENTIONED IN CLASS/MATERIAL?

• InternationalAppliedBoomingBlackFragile

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 __________

________ sectorMixed Enterprise

PPP________ sector

Unlimited Businesses

(___________)

Limited Businesses

(__________)

Public __________ or Nationalized Industry

_______Authorities

_____________ Company (Ltd.)

_____________ Company (PLC)

_____trader

Partnership

Production of goods and services

Private sectorMixed Enterprise

PPPPublic 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 2 -20 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 2 -20 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

* 90-100 pts = A