Semester 1

• [6 ECTS] Advanced Economy
  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] 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.
• [6 ECTS] Organizational Behaviour
  The course aims to familiarize students with organizational behavior and organizational psychology. From this point students should acquire adequate knowledge of leadership, power, authority, teamwork, conflict, role and significance of the individual business organization, etc.
• [6 ECTS] Monetary System and Policy
• [6 ECTS] Elective Courses
  • Business Communication
    The purpose of this course is to familiarize students with the concept of communication. In recent years more and more companies apply the techniques of business communication as the main tool to answer to a very high competition in the global market. This course is an attempt to improve the communication skills of students with theoretical but mostly practical implication correct way communication in an organizational environment with employees and managers as well as maintenance meetings, how to respond when interviewing, negotiating and motivate those around them.
  • External Trade
  • Investment Management

Semester 2

• [6 ECTS] International Accounting Standards
  The course covers the following: international accounting standards, capital, assets and long-term reserves, funds, liabilities, securities, customer requirements, prepaid expenses, accounts payable, short-term and long-term stocks, unearned revenue, tangible and intangible expenses, salaries expenses and depreciation, assigning VAT duties and profit tax, setting financial results.
• [6 ECTS] Public Economics
  The basic objective of the course in Public Economics is to aid the students in understanding the differences between the Public and Private sector, and within these frames, to explain the logic, organization and the method of functioning of the public sector in the world and in the Republic of Macedonia.
• [6 ECTS] Distribution and Sale Methods
  The purpose of this course is to familiarize students with the concept of sales and distribution, the differences between these two activities, and how modern methods used in the market economy in the sales process and the efficiency of distribution, channels of distribution, the criteria and distribution strategies.
• [6 ECTS] Business Ethics and Social Responsibility
• [6 ECTS] Elective Courses
  • 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.
  • Portfolio Management
    The course in Portfolio Management includes the elaboration of the main basic concepts and functions of the financial system, market brokers, tools, organization and operation principles, and their role in the economy in general and in the financial system of the national economies in particular. These markets and financial tools are of more recent date. They function in the developed western economies. Their appearance and development encourages the development of the real sector, the optimal utilization and allocation of the scant resources, they influence the macroeconomic entities and values.
  • Regional and Local Economic Development