Semester 1

• [6 ECTS] Research Methodology
  The course focuses on a wide range of research methods that may be utilized within the frames of all social sciences. Attention is paid to the quantitative as well as qualitative research methods. The course is aimed at individuals who are in need of conducting social research as a part of their academic studies.
• [6 ECTS] Advanced Economics
  The course is composed of two parts: microeconomics and macroeconomics. Within the frames of macroeconomics the consumer behaviour under existential conditions of budget restrictions and its target function are studied- utility maximization, as well as the enterprise behaviour within different market structures and their target function- profit maximization. In microeconomics, the factors of production and their prices, as well as the role of the state in regulating the businesses and the domains of market failure are also dealt with. Macroeconomics is concerned with the functioning of economics as a whole. In this context, the attention is focused on the most important macroeconomic concepts: gross domestic product, inflation, unemployment, savings, investments, rate of exchange etc. Special attention is dedicated to the factors that derange the macroeconomic balance, both in long and short terms, as well as the nature and character of the key macroeconomic policies which strive for approaching the movement of the factual gross domestic product, as much as possible, to the movement of the potential gross domestic product.
• [6 ECTS] Strategic Management
  The course objective is to train students to understand the decision-making process, that is as future managers, how to effectively make good business decisions. The course content enables the students to approach the Basics of the System Approach, System Analysis, Information Theory, Information System Theory, which are researched more widely in the following academic years. Decision making is an essential part of the managerial profession. Through performing tutorials with practical examples, students practice individual and team work. By doing so they are approaching the organizational reality and are becoming equipped for proper solving of the business problems.
• [6 ECTS] Free elective course 1

  Free Elective Courses

  • Rethoric
    During its long history of 2500 years, Rhetoric was used to indicate many different things; but Rhetoric nowadays is considered as the art of persuasion through language. Rhetoric marks the way that an individual is linked to a particular theme or idea in order to convince the other. Rhetoric is characterized by several distinguishing features.
  • Multilingualism and multiculturalism
    The purpose of this subject will be multilingualism in multicultural societies as a social phenomenon. This phenomenon is massive in the world. During the lectures, more precise terms such as monoculturalism and multiculturalism will be considered. The term ‘linguistic nationalism’ has at least two forms of this nationalism, which collide with each other: for the leaders of the most powerful countries nationalism means expansion, and for minorities it takes the form of defiance and struggle for the affirmation of identity, despite such pressure. The emphasis during the program will be multiculturalism in education. In the schools curricula consists of contents from different cultures.
  • Selected Chapters of Advanced Topics in IT Applications for Preparing a Scientific Paper
    The aim of this subject is: * To display the technical elements, the structure of the text and deign of a scientific research. * To enable students to acquire advanced knowledge and skills from selected advanced chapters of IT applications that will be needed in preparation of the scientific and research paper. * Practical application of these objectives in preparing student’s individual research paper.
  • Selected Chapters of Advanced Applications for Statistical Data Processing
    The aim of this subject is: * To display the technical elements in the field of statistics: organizing, processing, comparing through analysis and publication of data. * To enable students to acquire advanced knowledge and skills from selected advanced chapters of the applications for statistical data processing. * Practical application of these objectives in statistical processing of data obtained from questionnaires, reports, scientific studies and other documents.
  • Professional Communication
    The course is focused on the development of those communication skills that are essential for effective functioning in the professional world. Students will study the process for analysis of different communication situations, and will accordingly comprehend them. Among the themes that will be covered are communication in organization, interpersonal and group communication, oral presentations, interviews for employment, professional business letters and interpersonal skills including group dynamics and teamwork.
  • Methodology of Teaching
    The aim of the course is to introduce the students to the basic teaching approaches and methods. They are expected to gain knowledge and skills in order to be able to apply the active educational tools. The course also offers development, learning and teaching as concepts and basic practices that allow teachers to teach about the development of thinking. Throughout this course, students will gain both theoretical background and entirety of strategies that will enable them to reflect and develop both their own and their students` critical thinking.
• [6 ECTS] Elective course 1
  • Applied Statistics
    Through this course students will understand and apply the elements of Descriptive Statistics, Theory of Probability followed by probability and sample distribution, calculating the distribution parameters, evaluation and control of the statistical hypotheses, hypotheses testing, variance analysis, linear analysis and analysis of temporal series, simple linear regression and correlation.
  • International Marketing
    International Marketing is one of the youngest scientific disciplines of the business economy which observes and analyses the international marketing activities of the enterprise from a specific angle. Within the course numerous phenomena and processes which are currently present in the world economy and which demonstrate that the traditional approaches are securely becoming a part of the history are studied. Instead, a new world is born, a world which is economically independent and which does not recognize political borders of any kind, called states. By studying the content, an observation is made that all the key economic parameters have to be directed towards the direction of development of the international economy and the world market. The knowledge acquired in International Marketing and their application in practice will bring us closer to the successful enterprises and successful countries, that know what they want from their own resources and their own economies, yet are within the global market context.
  • International Management
    The objectives of the course are to: * Analyze the basic problems of the international economy; * Discussing the relationship between domestic and international business; * Evaluation of various factors affecting the international management; * Completion of a SWOT analysis of various international companies and defining new global markets; * Discussing the use of global communication; * Define and implementing strategies for entering into international markets.

Semester 2

• [6 ECTS] Market Research
  Marketing information and resources needs analysis involves collecting and expanding the primary and secondary data. Defining a problem, research design, experiment techniques, data collecting and analyzing will be examined. A general review of the methods for measuring client reactions on the project features, advertising effectiveness and other promotional concepts will also be examined.
• [6 ECTS] Technological Development and Globalization
  The course is aimed to introduce students to the contemporary technological processes as a part of the world economy in terms of globalization and its influence on individual national economies. A Brief course content: Features of the contemporary technological development, Basic domains of the technological changes, Economic effects of the technological changes, World economy globalization, Bearers of technological and economic changes in the period of globalization, Technological development policy of the Republic of Macedonia.
• [6 ECTS] Contemporary Macroeconomic Conceptions and Policies
  The course objective is to present the dominant macroeconomic conceptions and policies, their influence on the creation and implementation of the macroeconomic policy in individual countries. A Brief course content: Microeconomic basis of the macroeconomic conceptions and policies, Keynism and Neokeynism and the macroeconomic policies, Monetarism and the macroeconomic policies, New classical macroeconomics and the macroeconomic policies, the Theory of real business cycle and the macroeconomic policies, Supply economics and the macroeconomic policies, the Theory of public choice and the macroeconomic policies, New Keynesian economy and the macroeconomic policies, Confronting the contemporary macroeconomic conceptions and policies with the facts of the real economic life, the Macroeconomic conceptions and their implications in individual countries.
• [6 ECTS] Free elective course 2

  Free Elective Courses

  • Rethoric
    During its long history of 2500 years, Rhetoric was used to indicate many different things; but Rhetoric nowadays is considered as the art of persuasion through language. Rhetoric marks the way that an individual is linked to a particular theme or idea in order to convince the other. Rhetoric is characterized by several distinguishing features.
  • Multilingualism and multiculturalism
    The purpose of this subject will be multilingualism in multicultural societies as a social phenomenon. This phenomenon is massive in the world. During the lectures, more precise terms such as monoculturalism and multiculturalism will be considered. The term ‘linguistic nationalism’ has at least two forms of this nationalism, which collide with each other: for the leaders of the most powerful countries nationalism means expansion, and for minorities it takes the form of defiance and struggle for the affirmation of identity, despite such pressure. The emphasis during the program will be multiculturalism in education. In the schools curricula consists of contents from different cultures.
  • Selected Chapters of Advanced Topics in IT Applications for Preparing a Scientific Paper
    The aim of this subject is: * To display the technical elements, the structure of the text and deign of a scientific research. * To enable students to acquire advanced knowledge and skills from selected advanced chapters of IT applications that will be needed in preparation of the scientific and research paper. * Practical application of these objectives in preparing student’s individual research paper.
  • Selected Chapters of Advanced Applications for Statistical Data Processing
    The aim of this subject is: * To display the technical elements in the field of statistics: organizing, processing, comparing through analysis and publication of data. * To enable students to acquire advanced knowledge and skills from selected advanced chapters of the applications for statistical data processing. * Practical application of these objectives in statistical processing of data obtained from questionnaires, reports, scientific studies and other documents.
  • Professional Communication
    The course is focused on the development of those communication skills that are essential for effective functioning in the professional world. Students will study the process for analysis of different communication situations, and will accordingly comprehend them. Among the themes that will be covered are communication in organization, interpersonal and group communication, oral presentations, interviews for employment, professional business letters and interpersonal skills including group dynamics and teamwork.
  • Methodology of Teaching
    The aim of the course is to introduce the students to the basic teaching approaches and methods. They are expected to gain knowledge and skills in order to be able to apply the active educational tools. The course also offers development, learning and teaching as concepts and basic practices that allow teachers to teach about the development of thinking. Throughout this course, students will gain both theoretical background and entirety of strategies that will enable them to reflect and develop both their own and their students` critical thinking.
• [6 ECTS] Elective course 2
  • Applied Statistics
    Through this course students will understand and apply the elements of Descriptive Statistics, Theory of Probability followed by probability and sample distribution, calculating the distribution parameters, evaluation and control of the statistical hypotheses, hypotheses testing, variance analysis, linear analysis and analysis of temporal series, simple linear regression and correlation.
  • International Marketing
    International Marketing is one of the youngest scientific disciplines of the business economy which observes and analyses the international marketing activities of the enterprise from a specific angle. Within the course numerous phenomena and processes which are currently present in the world economy and which demonstrate that the traditional approaches are securely becoming a part of the history are studied. Instead, a new world is born, a world which is economically independent and which does not recognize political borders of any kind, called states. By studying the content, an observation is made that all the key economic parameters have to be directed towards the direction of development of the international economy and the world market. The knowledge acquired in International Marketing and their application in practice will bring us closer to the successful enterprises and successful countries, that know what they want from their own resources and their own economies, yet are within the global market context.
  • International Management
    The objectives of the course are to: * Analyze the basic problems of the international economy; * Discussing the relationship between domestic and international business; * Evaluation of various factors affecting the international management; * Completion of a SWOT analysis of various international companies and defining new global markets; * Discussing the use of global communication; * Define and implementing strategies for entering into international markets.

Semester 3

• [6 ECTS] International Business
  The purpose of this course is for the student to be able: * To understand the difference between global creation, maintenance and modification in comparison with international strategies in terms of international business; * To build the knowledge to perform a cost-benefit analysis from a global perspective. * To conduct a SWOT analysis for various international companies, as well as be able to learn new global markets. * To understand the essence of global international business and the use of global communications. * To define and use strategies for the assessment of joint ventures (joint venture), unification and buying various companies in order to gain access to new markets. * To bring decision about market segmentation solutions and ways to access them.
• [6 ECTS] International Economics
  The basic course objective is to represent the modern tendencies in the International Economics and their influence on the national economies. Brief course content: Introduction to International Economics, Contemporary tendencies of Globalization in the international economic trends, the Technological development and the structural changes in the world economy, the Theoretical basis of the International Economics, the Policy of International economic relations, the Issue of debt of the countries in development, the Macroeconomic policy under open economy conditions, the International economic problems of the countries in transition, the Position of the Republic of Macedonia in the International Economics.
• [6 ECTS] International Finances
  Course aims are: * To understand how function international financial markets; * To build knowledge for factors that determine exchange rate; * Compare different methods for security of the exposedness of the exchange rate; * To understand the essence of the international monetary system; * To build knowledge of international finance and the use of global communications. * To define and use strategies for the assessment of joint ventures (joint venture), unification and buying various companies in order to gain access to new markets; * To understand the role and importance of the balance of the country's macroeconomic policy;
• [6 ECTS] Elective course 3
  • Game Theory
    This course aims to improve the student strategic decision-making ability in competitive situations in which the student evaluation of the outcome of an action depends not only on the choices made by the student, but also on the choices made by others. The course concentrates on an analytic method derived from game theory, which provides a rigorous analytic framework for structuring competitive situations, identifying the alternatives, and choosing among them. The basic approach will be to break the complexity down into pieces, use game theory tools to analyze the pieces, and then reassemble the pieces into a logically coherent understanding. The goal is to become better strategic decision makers when faced with competitive challenges. The main objectives will be to use game theory concepts and tools to identify, diagnose and analyze competitive challenges facing firms in dynamic industries and apply game theory concepts and tools to develop strategies for competitive advantage. All of this will be done by analyzing different games.
  • Corporate Management
    The aim of this subject is to provide students with knowledge on the overall flows in Corporate Management, with a tendency to relate the world theoretical knowledge with the reality of functioning of the joint stock companies in the Republic of Macedonia. Within the course frames aspects such as the general theoretical corporation frame and types of corporations, corporation ownership and its classification by management, the operating method of the Board of Directors, the structure of the Board of Directors, the Committees of the Board of Directors, the role and responsibilities of the Board of Directors in the process of making the main decisions within the corporation, the operating method of the Board of Directors within the Corporate Management Systems of the Republic of Macedonia etc.
  • Export Strategies and Competition Policy
    The course introduces students to the influence of export strategies and competition policy on the future developmental trends of the national economies and on the ability of the economic subjects in the economic approach of the international economy. Brief course content: The inevitability of strategies for joining IEO, Regional export strategies, Export-oriented strategies in the developed countries, Specific strategies of the newly industrialized countries, Competition policy, Determinants of the export strategy of the industry in Macedonia, Determinants of the export strategy of the agro-industrial structure in Macedonia.
  • Total Quality Management
    The course objective is to equip students to understand the essence of the Total Quality Management, its importance and the positive aspects of its utilization. Within the course frames the following will be studied: what is quality with regards to products and services, as well as the consequences of the poor quality and the gains from the top quality. The movements and theories of Total Quality Management will be then studied, starting with the classical, western as well as Japanese authors. The elements of total quality management will also be studied. Furthermore, the most important techniques related to total quality management will be analyzed, and finally, the method of implementing the total quality management as well as the criteria necessary for the most famous quality rewards in the world will be studied.
• [6 ECTS] Elective course 4
  • Game Theory
    This course aims to improve the student strategic decision-making ability in competitive situations in which the student evaluation of the outcome of an action depends not only on the choices made by the student, but also on the choices made by others. The course concentrates on an analytic method derived from game theory, which provides a rigorous analytic framework for structuring competitive situations, identifying the alternatives, and choosing among them. The basic approach will be to break the complexity down into pieces, use game theory tools to analyze the pieces, and then reassemble the pieces into a logically coherent understanding. The goal is to become better strategic decision makers when faced with competitive challenges. The main objectives will be to use game theory concepts and tools to identify, diagnose and analyze competitive challenges facing firms in dynamic industries and apply game theory concepts and tools to develop strategies for competitive advantage. All of this will be done by analyzing different games.
  • Corporate Management
    The aim of this subject is to provide students with knowledge on the overall flows in Corporate Management, with a tendency to relate the world theoretical knowledge with the reality of functioning of the joint stock companies in the Republic of Macedonia. Within the course frames aspects such as the general theoretical corporation frame and types of corporations, corporation ownership and its classification by management, the operating method of the Board of Directors, the structure of the Board of Directors, the Committees of the Board of Directors, the role and responsibilities of the Board of Directors in the process of making the main decisions within the corporation, the operating method of the Board of Directors within the Corporate Management Systems of the Republic of Macedonia etc.
  • Export Strategies and Competition Policy
    The course introduces students to the influence of export strategies and competition policy on the future developmental trends of the national economies and on the ability of the economic subjects in the economic approach of the international economy. Brief course content: The inevitability of strategies for joining IEO, Regional export strategies, Export-oriented strategies in the developed countries, Specific strategies of the newly industrialized countries, Competition policy, Determinants of the export strategy of the industry in Macedonia, Determinants of the export strategy of the agro-industrial structure in Macedonia.
  • Total Quality Management
    The course objective is to equip students to understand the essence of the Total Quality Management, its importance and the positive aspects of its utilization. Within the course frames the following will be studied: what is quality with regards to products and services, as well as the consequences of the poor quality and the gains from the top quality. The movements and theories of Total Quality Management will be then studied, starting with the classical, western as well as Japanese authors. The elements of total quality management will also be studied. Furthermore, the most important techniques related to total quality management will be analyzed, and finally, the method of implementing the total quality management as well as the criteria necessary for the most famous quality rewards in the world will be studied.

Semester 4

• [30 ECTS] Master Thesis
  After passing examinations, the student may begin the procedure of filing, making and public defense of thesis topic. The student chooses the mentor, who gives him instructions for preparation of the application of master theses. The application must be granted by the Graduate Studies Educational Collegium and the Scientific and Academic Council of the Faculty. After preparing the final version of Masters Thesis, Academic-Scientific Council of Faculty forms a three-member committee, which prepares the report, which is may be accepted or rejected. The positive report is approved by the Academic-Scientific Council and it is set the date of public defense. After successfully defending the thesis, the student gains the degree - Master of Economic Sciences / Field: International Economic Relations.