− bullish – stock market condition characterized by rising share prices

− bearish – stock market condition characterized by falling share prices

− Fed – stands for Federal Reserve, which is the central bank of the United States

− An interest rate is a percentage that shows how much money you pay to borrow or how much money you earn from saving

− An interest rate cut is when a central bank, like the Federal Reserve in the U.S., lowers its benchmark interest rate, which is the rate at which commercial banks borrow money from each other or from the central bank. This reduction in rates generally makes borrowing cheaper and is intended to stimulate economic activity.

− Shares represent ownership units in a company. When you own a share, you own a small portion of that company. Shares are also commonly known as stocks

− IPO stands for Initial Public Offering. It’s the process by which a private company offers its shares to the public for the first time on a stock exchange

− CEO stands for Chief Executive Officer. This is the highest-ranking executive and the most important person in a company. The CEO makes major decisions, manages all the business activities and resources, and is the main contact between the board of directors and the rest of the company.

− Inflation is the rate at which the general level of prices for goods and services rises

− In business, a unicorn is a startup company that is worth $1 billion or more. The term was created to show how rare it is to find such valuable companies, like the mythical unicorn.

− Debt is the sum of money that is borrowed for a certain period of time and is to be return along with the interest. In simpler terms, debt is money that one person or entity owes to another.

− debt recovery – the process of making people or companies pay the money that they owe to other people or companies

− departments are sections of a university that teach specific subjects and support students in their learning

− faculty refers to the teaching staff at a university or college who educate students, conduct research, and support learning in their areas of expertise

− ETCS stands for European Credit Transfer and Accumulation System. It is a standard system used across European higher education institutions to facilitate the transfer and accumulation of academic credits.

− Diploma Supplement (dodatak diplomi) is an official document that provides detailed information about a student’s qualifications, making it easier to understand and compare degrees across different educational systems.

− Mobility in the context of higher education refers to the ability of students to move between different educational institutions, programs, or countries to pursue their studies. This often involves studying abroad or transferring credits from one institution to another.

− Employability refers to the skills, qualities, and abilities that make a person attractive to potential employers

− Competitiveness means how well someone or something can compete with others.

− predmet – course or subject

− program predmeta – syllabus

− predavač – lecturer or instructor

− Katedra za računovodstvo – Department of Accounting

− nastavni program – curriculum

− seminarski rad – seminar paper or term paper

− magisterij – master’s degree

− dekan – dean

− predati rad – submit a paper

− nastavnici – faculty or instructors

− prijaviti se za ispi – apply for an exam

− doktorat – PhD or doctorate

− pohađanje nastave – class attendance

− brucoš – freshman or first-year student

− preddiplomski studij – undergraduate program

− redovni student – full-time student

− pasti ispit – fail an exam

− diplomski studij – graduate program or master’s program

− završni ispit – final exam/comprehensive exam

− diplomirati na smjeru – graduate with a major in

− upisati predmet – enroll on a course

− referada – Student Administration Office

− Pročelnik katedre – Head of Department

− izvanredni student – part-time student

− poslijediplomski studij – postgraduate program

− diplomirati ekonomiju – graduate in economics

− smjer – major

− katedra – department

− glavni predmet – core course/compulsory course

− izborni predmet – non-core course/elective course

− preliminary exam (midterm exam) – test na sredini semestra

− 3 degrees (first, second, third):

1) Bachelor’s degree (tot. 3 or 4 y of study)

2) Master’s degree (tot. min.5 y of study)

3) Doctor’s degree, PhD (tot. min.8y)

− ECONOMIC – ekonomski  

o Relating to the economy, finances, or the system of production and consumption in a country or region.

− ECONOMIZE – štedjeti  

o To reduce spending or save money.

− ECONOMICAL – ekonomičan  

o Describes something that uses resources, like money or energy, efficiently or sparingly.

− ECONOMICS – ekonomija  

o The study of how resources are produced, distributed, and consumed in societies.

− ECONOMIST – ekonomist  

o A person who studies or has expertise in economics.

− ECONOMY – gospodarstvo  

o The organized system of production, trade, and consumption of goods and services in a country or region.

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.

− The primary sector of the economy extracts, collects or harvests products from the earth, such as raw materials and basic foods. Activities associated with primary economic activity include agriculture (both subsistence and commercial), mining, forestry, farming, grazing, hunting and gathering, fishing and quarrying.

− The secondary sector of the economy produces or manufactures finished goods from the raw materials extracted by the primary economy. All manufacturing, processing and construction lie within this sector. There are different categories of goods depending on who purchases those goods and for what purpose. Capital goods are sold to other producers. Consumer goods are sold to the final consumer. Activities associated with the secondary sector include metal working, automobile production, textile production, chemical and engineering industries, aerospace manufacturing, energy utilities, engineering, construction and shipbuilding.

− The tertiary sector of the economy is also known as the service industry. This sector sells the goods produced by the secondary sector and provides services to both the general population and to businesses in all five economic sectors. Activities associated with this sector include retail and wholesale sales, transportation and distribution, restaurants, clerical services, media, tourism, insurance, banking, healthcare and law.

− The quaternary sector of the economy consists of intellectual activities often associated with technological innovation. It is sometimes called the knowledge economy. Activities associated with this sector include culture, libraries, scientific research, education and information technology. These intellectual services and activities are what drives technological advancement, which can have a huge impact on short- and long-term economic growth.

− The quinary sector, which includes the highest levels of decision making in a society or economy(government).

− Consumer goods – potrošačka roba  

o Products made for people to buy and use, like clothes, food, and electronics.

− Gravitate – gravitirati  

o To be naturally drawn or attracted to something or someone.

− Labour costs – troškovi rada  

o The expenses a business pays for the work done by employees, including wages and benefits.

− “Rust-belt” – "pojas hrđe"  

o An area, in the U.S., known for once-thriving heavy industries like steel, now declining with old, unused factories.

− Rivals – suparnici, konkurenti  

o Competitors or businesses that try to attract the same customers or achieve the same goals.

− Retrain – prekvalificirati  

o To teach someone new skills so they can do a different job.

− Outsourcing – vanjsko poslovanje  

o Hiring another company or service, often overseas, to handle parts of a business’s tasks or production to save costs.

− Relocate – preseliti  

o To move a business or organization to a new location or region.

− Counterpart – ekvivalent  

o A person or thing with the same role or function as another, often in a different place or organization.

− A fraction of salary – djelić plaće  

o A small part or portion of someone’s regular income or wages.

− Privatization is when the government takes something it owns, like a company or a service, and sells it to private businesses or individuals. Instead of the government running it, private owners manage it and aim to make a profit. For example, if a government owns a railway system and decides to sell it, private companies can buy it and then decide how to operate it, hoping to improve efficiency or quality. However, it might also mean higher costs for people if the private company raises prices to make more money.

− Governments use privatization to raise capital.

− Do all taxpayers pay the same amount of tax?

− No, not all taxpayers pay the same amount of tax. The amount of tax a person pays often depends on their income, wealth, and the tax system in place. In progressive tax systems, for example, wealthier individuals pay a higher percentage of their income in taxes compared to those with lower incomes. In contrast, flat or proportional tax systems require everyone to pay the same percentage of their income, but the total amount paid still varies depending on how much income a person earns.

− What is flat in flat (proportional) tax?

− The "flat" in a flat (or proportional) tax refers to the fact that everyone pays the same percentage of their income in taxes, regardless of how much they earn. The difference is that higher earners pay more in absolute terms because they have a higher income, but the percentage remains the same for everyone.

− What is redistributed in redistributive taxation?

− In redistributive taxation, wealth or income is redistributed from wealthier individuals to those with lower incomes. The idea is to reduce inequality by taxing higher earners at a higher rate and using that money to fund social programs, welfare, public services, or direct transfers to low-income individuals. This helps ensure that everyone has access to basic services like healthcare, education, and housing, even if they can't afford them on their own.

− What is evading tax?

− Tax evasion means cheating on your taxes. It’s when someone purposely hides money, lies about how much they earn, or fakes documents to avoid paying the taxes they owe. This is illegal and can lead to fines or even jail time.

− What is avoiding tax?

− Tax avoidance means legally finding ways to pay less tax by using the rules and loopholes in the tax system.

− verbs – nouns

− collect tax – tax collection

− declare tax – tax declaration

− evade tax – tax evasion

− avoid tax – tax avoidance

− Taxpayers are people or businesses that have to pay taxes to the government because they earn income

− Income tax is the money you pay to the government based on how much you earn from work, business, or other sources

− To declare tax means to report or tell the government how much money you’ve earned and how much tax you owe. This is usually done by filling out forms or documents.

− To file a tax return means to submit a report to the government that shows your income and how much tax you owe (or have already paid)

− Tax authorities are the government departments or agencies in charge of collecting taxes and making sure people pay the right amount.

− A progressive tax charges a higher percentage of income as a person earns more. This means people with higher incomes pay a larger portion of their earnings in taxes compared to those with lower incomes.

− A regressive tax takes a larger percentage of income from people with lower incomes compared to those with higher incomes. This doesn’t mean people with lower incomes pay more in absolute terms, but the tax takes up a larger part of their smaller income.

− A proportional or flat tax means everyone pays the same percentage of their income, regardless of how much they earn. The rate is “flat” or consistent, so whether you make a lot or a little, you pay the same percentage.

− A direct tax is paid directly to the government by the individual or business responsible for it.

− An indirect tax is a tax on goods or services, so people pay it when they buy things rather than paying the government directly.

− Taxes in Croatia:

1) value-added tax (VAT) – PDV

2) personal income tax (PIT) – porez na dohodak

3) corporate income tax (CIT), corporate tax, profit tax – porez na dobit

4) excise taxes (excise duties) – trošarine

5) inheritance and gift tax – porez na nasljedstvo i darove

6) transfer tax – porez na prijenos

7) social security contributions (e.g. health and pension contributions) – doprinosi za zdravstveno i mirovinsko osiguranje