Weird, wild stuff. Don't know how to put it all into words, but here goes. This seminar is mostly about what Lacan calls "the four discourses," which Lacan labels the Master's discourse, the Hysteric's discourse, the University's discourse, and the Analyst's discourse. Lacan thinks we're all caught up in one of these discourse patterns in one way or other.
He says the Master's discourse is the overarching discourse, maybe ultimately inescapable, whereby some source of authority extracts knowledge from his or her subordinates. The subordinates produce the knowledge, the authority enjoys the fruits of labor.
Harder to say what the Hysteric's discourse is, exactly, although Lacan says it's tied up with figures like Socrates, Marx, and Freud, who demand the fruits of knowledge, I suppose.
The University's discourse is also pretty unclear, but from Lacan's description, it seems to mean that people in their role as university students are reproduced by society as obedient in the mold of what university authorities hold up as knowledge. Again, guesswork here.
The Analyst's discourse is the position the therapist occupies, and Lacan clearly thinks that if any paradigm is to allow for breakthroughs, it's this one. Here, the therapist takes up the role of authority figure but does not reveal to the patient what it is he or she, that is, therapist qua person, actually desires. The therapist is only supposed to guide the patient along the patient's own speech paths, which hopefully will eventuate in the patient coming to terms with him- or herself as the closest thing to be an authority figure. At the very least, he or she is supposed to realize the fact that we are all in this position in life of moving around in the dark and trying to find our way.