Broaden your perspective & earn extra credit by taking part in a discussion during my office hours:

1) Suggest the time and participants

2) Visit 4 times (discuss 4 topics) + impress me → no oral examProposed texts (you too can propose texts, videos...)

1 The Corporation: The Pathological Pursuit of Profit and Power (Excerpt from the book by Joel Bakan, later turned into a film), RB, p 44

2 The Pendulum of Control (Excerpt from Schiller’s Essentials of Economics), RB, p 45

3 Survey of the 20th century: Freedom from Want?, RB, p 26-84 The Untouchables (handout provided by teacher)5 Is China running out of workers?

http://www.forbes.com/sites/gordonchang/2013/01/20/is-china-running-out-of-workers/

http://online.wsj.com/articles/SB10001424052702304607104579211351308910382 ...

More topics will be added as we progress through the course.

Revision: Types of private businesses

→ RB, p 50

1)sole trader 2) partnership

3) losses 4) liability

5) bankruptcy 6) corporations

7) creditors 8) shares

9) prospectus 10) registered

→ RB, p 51

BUSINESS ORGANIZATIONS IN CROATIA

→ RB, pp 52-3 (do the tasks)

What is nationalization?

• What is privatization?• Is this a new idea?• How is denationalization accomplished?• Why privatize?• Does it work?• What’s the downside?→ RB, p 42: What is privatization, anyway?Skim to match questions to paragraphs

1 F2 E3 A4 C5 B6 D

Vocabulary focus (scan and explain)Scan the text for the following words/phrases:

Group 1to exercise controlleapvoucheroft-statedendeavouredhighly praisedvested pension interest

Group 2impactinvigoratewringarguethuslayoffsproponents

Explain: Since buyers are willing to pay more for a monopoly, sometimes the goal of raising money gets in the way of making a company more efficient.HW: Read the whole text and answer the questions in writing.

Arguments for and against privatization

• → RB, p 43

• Number the pairs of paragraphs

• Read the arguments for and against privatisation (side by side)

• Establish the main topic in each section:

Two sides of the same coin• Match each pair to a topic / heading:

control

revenue

disciplines of the market and efficiency

shareholders vs. stakeholders

diversification of business activities

trade union power

Privatization: two sides of the same coin

Privatisation-related topics :1 disciplines of the market & efficiency 2 diversification of business activities3 control4 trade union power5 shareholders vs. stakeholders6 revenue

HOMEWORK: get ready to...• ... discuss each pair (contrast, concession)• ... say which argument do you think is more

convincing?

Additional information: and, furthermore, moreover, in addition to, next, then, besides

Reason: because, because of, due to, owing to, as, since, therefore, that’s why

Contrast: on the other hand, on the contrary, in contrast, although, yet, but, while, whereas

Concession: (even) though, anyway, however, nevertheless, in any case, in spite of that, despite

Purpose: in order to, so that

Result/Consequence: consequently, as a result, therefore, so, thus

Giving example: for example, for instance

LINKING WORDS: