Revision
Jan 16, 2016
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