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Programme:

Business and Economics

In collaboration with University of London (UoL)
Study Cycle: First Cycle (Undergraduate)
Faculty: Business and Economics
Programme Code: N-BE
Academic year: 2016 / 2017
Title: Bachelor of Business and Economics
ECTS: 180 (3 years) Accrediation

The Curriculum of “Business and Economics” is a balanced combination of primary specific theoretical knowledge and professional skills. The structure of the three-year program includes studies that are by nature dynamic and interactive. The program is designed to offer topics in the field of economics and management. Items that are included in this program represent perspectives that are based on theory, which is closely related to practical application in the business world. This program allows students to acquire the necessary skills and experience for the theory of economics, the use of management, finance and econometrics.
Aims of the study program:
• to prepare students for the position of leaders in profit and non-profit organizations in the country and around the world.
• to prepare students to build careers in the fields of economics and management, but also in the private sector in the field of finance.
• to enable the acquisition of research skills and experience in the theory of economics, the use of management, finance and econometrics.
• to develop the concept of practical work of students.
• to develop students’ concept of critical thinking.
• to enable students to actively participate in lectures and practical work in order to independently carry out research in all areas of economics and management.
• to facilitate the development of personal, communication, research and other important skills needed for employment.
During the three-year study of this program, students have the opportunity for practical work (internship), whereby they will be able to apply their knowledge, capacity, ability and skills obtained in the Faculty.
The study program in “Business and Economics” offers the possibility of a (Double Degree) in collaboration with the University of London (UoL) - London School of Economics. This program is based on the courses that are serviced by LSE. The professors of the respective courses prepare their courses in accordance with the curriculum of the program at LSE. LSE also provides materials and support needed for the realization of courses, such as the necessary literature, subject guide, curriculum, exams and examples of video lectures.

The study program Business and Economics will enable students to:
- obtain a general education in disciplines that underlie the theory and practice of management, while still specializing in economics;
- undertake in-depth study of economics with management options that enable you to look critically at management issues;
- gain training in the principles of economics and their applications;
- develop an understanding that management is a broadly based social science and multi-disciplinary area;
- get acquainted with appropriate tools of analysis to tackle issues and problems of economic policy;
- enable students to understand organizations, key aspects of their management, and the external environment in which they operate ;
- provide an environment wherein students can develop their interpersonal and communicative skills;
- provide a firm foundation for further study and for employment;

Knowledge and understanding

- Has the necessary knowledge for the following business functions: economics, management, finance, business and management in a global context, principles of accounting, corporate finance, strategic management, human resource management and marketing;
- Has a knowledge of the functional areas of economics and management, ongoing research and innovation, future trends, and the impact of these developments in theory and practice;
- Has a knowledge and understanding of national, regional and global economic situation on the market.
- Has knowledge of managerial theories, analysis and reporting;
- Acquire a strong foundation in how to further develop economics and be ready for graduate studies related to the economics and management, management or related fields.;
- Understand the different tools for making management decisions;

Applying knowledge and understanding

- Ability to professionally write and further develop economics and management problems and its implementation in real life;
- Ability to assist in the formulation and practical implementation of successful general management plans and strategies;

Making judgement

- To think critically and to apply theoretical and practical knowledge and experience to identify and analyze economics problems;
- Critically analyze and evaluate identified managerial opportunities;

Communication skills

- Show understanding of individual and group dynamics in organizations;
- Operate effectively in teamwork;
- Effectively deal with people from different social, economic, cultural and religious backgrounds;
- Demonstrate understanding of and sensitivity to ethical, social and legal responsibilities of companies;
- Show business ideas in an effective manner;
- Demonstrate key negotiating skills;
- Interpret business data and economic indicators;

Learning skills

- Can research and detect sources of learning;
- Can be trained for individual and team learning;
- Have the ability to use scientific literature and analysis of the opinions and estimates of other authors;

Semester 1

  • [BE-102] [6 ECTS] Introduction to Business and Management
    This course is an examination of the basic concepts of management and business. Analysis of management functions including planning, staffing, organizing and control will be covered. Methods of delegating authority, preparation of organizational charts, policy development, production and cost control will also be included. Upon completion of this course, the student should be able to attain the following:  Given a description of a specific business enterprise, write a management job description that incorporates the basic activities that comprise the management process and the job of a manager;  Given a case describing an external environmental situation, write a report analyzing the internal and external environment of the business, including the organization’s culture and the challenges of operating in an international, multinational and global environment;  Given a specific ethical situation, analyze the situation and prepare recommendations for a course of action that will promote ethical behavior;  Given an example of a strategic business plan, evaluate the plan and provide recommendations on how the plan could be improved to include more effective planning and decision-making;  Given an example of a proposed organizational structure, identify the functional elements of the organization, create an organizational design and provide recommendations on organizational change;  Given a specific staffing requirement, design a recruiting and development system that will attract, select, develop and maintain human resources;  Given a leadership scenario, recommend a course of action that incorporates the concepts of motivation and leadership to influence behavior;  Given a situation that calls for improving interpersonal relations within an organization, create a plan of action that addresses the communication process, as well as the issues and methods of managing the interpersonal relationships of individuals, work groups and teams;  Given a situation that requires the need to regulate organizational activities, students will create a management plan that includes the basic elements of control in organizations and that specifies how to manage information, operations, quality and productivity; In broad terms, the following actives are for this course:  Gaining factual knowledge (terminology, classifications, trends);  Learning fundamental principles, generalizations, or theories;  Learning to apply course materials (to improve thinking problem solving and decisions);  Developing specific skills, competencies, and points of view needed by professionals in the field most closely related to this course;  Acquiring skills in working with others as a member of a team;  Developing creative capacities;  Developing skill in expressing oneself orally or in writing;  Learning how to find and use resources for answering questions or solving problems;  Developing a clearer understanding of, and commitment to, personal values;  Learning to analyze and critically evaluate ideas, arguments and points of view;  Acquiring an interest in learning more by asking questions and seeing answers;
  • [BE-103] [6 ECTS] Basic Mathematics
    Aims of the course program: • enable students to acquire skills in the methods of calculus and the linear algebra, as required for their use in economics area and economics-based subjects. • provide students with mathematical knowledge from the part about the functions (as a special mapping), how a function is given, properties of a function, and derivatives of a function • apply the concept of the derivative in sketching the graph of a function as a very important tool in understanding and analyzing everything concerning the given function. • find the integral of a function and apply it in solving different problems. • solve and apply some problems from the part of linear algebra.
  • [BE-101] [6 ECTS] Introduction to Economics
    The primary purpose of this course is to develop a basic understanding of the major economic concepts and theories used in analyzing economic issues. This course is designed in a way to equip students with basic principles, concepts and techniques in doing economic analysis. At the end of the course, the students should be able to “think like an economist”. This course provides a survey of the principles of micro- and macroeconomics with a focus on applied managerial decision-making in a global setting. Upon completion of the course, students should be able to: utilize the demand and supply model to determine the impact of changes in demand or supply on price and quantity; define GDP and describe its measurement, uses, and limitations as a measure of economic well being; define Inflation and describe its measurement, consequences, and how to adjust for it; as well as describe the role and tools of a central bank.
  • [6 ECTS] Elective course
    • [EBE-01] Management Accounting
    • [EBE-02] Economics of Development
    • [EBE-03] Mathematical Economics
    • [EBE-04] Managerial Economics
    • [EBE-05] Development Management
    • [EBE-06] Social Research Methods
    • [EBE-07] Consumer Behaviour
    • [EBE-08] Portfolio Management
    • [EBE-09] Project Management
    • [EBE-10] E-commerce
    • [EBE-11] Small Business and Entrepreneurship
    • [EBE-12] Product Design and Management
    • [EBE-13] International Finances
    • [EBE-14] International Economics
    • [EBE-15] Strategy
  • [6 ECTS] Free elective course
    • [EFE-107] Public Speaking
    • [EFE-127] Debate and Presentation Skills
    • [EFE-108] Intercultural Studies
    • [EFE-108] Communication Skills
    • [EFE-110] Advanced Excel
    • [EFE-111] Advanced IT skills
    • [EFE-112] Advanced Word
    • [EFE-113] Google Apps
    • [EFE-114] Advanced Access
    • [EFE-115] Desktop Publications
    • [EFE-116] Web Publications
    • [EFE-129] Albanian Language and Writing Culture
    • [EFE-131] Albanian Language for Specific
    • [EFE-102] Academic Writing in English
    • [EFE-103] Academic Writing in Macedonian
    • [EFE-104] Academic Writing in Albanian
    • [EFE-105] German Language (level 1 to 4)
    • [EFE-117] Environmental Protection
    • [EFE-121] Professional Careеr Development
    • [EFE-132] Human Rights and Freedoms

Semester 2

  • [BE-201] [6 ECTS] Principles of Accounting
    The purpose of the course is to help students understand the essence of accounting, to learn the basics of accounting, accounting concepts and principles. Specifically, students will gain the knowledge and understanding of financial statements, their components, the basic rules to record accounting data, use of accounting documents.
  • [BE-202] [6 ECTS] Microeconomics
    Aims of the course program: • To deepen the understanding of the basic theory of optimization by economic agents and the efficiency of the resulting outcome for the market as a whole; • To introduce students to the analysis of strategic interaction as well as interaction under asymmetric information; • to clarify the role of economic policies as tools to improve efficiency in the presence of market failures; • to promote the ability to think in a structured framework, and clarify the importance of formal arguments; • to demonstrate the art of modeling which requires simplifying a problem by identifying the key elements without oversimplifying the issue;
  • [BE-203] [6 ECTS] Basic Statistics
    The emphasis of the course is on the application of statistical methods in management, economics and the social sciences. Attention will focus on the interpretation of tables and results and the appropriate way to approach statistical problems. Treatment is at an elementary mathematical level. Ideas of probability, inference and multivariate analysis are introduced and are further developed in the course Statistics 2.
  • [6 ECTS] Elective course
    • [EBE-01] Management Accounting
    • [EBE-02] Economics of Development
    • [EBE-03] Mathematical Economics
    • [EBE-04] Managerial Economics
    • [EBE-05] Development Management
    • [EBE-06] Social Research Methods
    • [EBE-07] Consumer Behaviour
    • [?B?-08] Portfolio Management
    • [EBE-09] Project Management
    • [EBE-10] E-commerce
    • [EBE-11] Small Business and Entrepreneurship
    • [EBE-12] Product Design and Management
    • [EBE-13] International Finances
    • [EBE-14] International Economics
    • [EBE-15] Strategy
  • [6 ECTS] Free elective course
    • [EFE-107] Public Speaking
    • [EFE-127] Debate and Presentation Skills
    • [EFE-108] Intercultural Studies
    • [EFE-108] Communication Skills
    • [EFE-110] Advanced Excel
    • [EFE-111] Advanced IT skills
    • [EFE-112] Advanced Word
    • [EFE-113] Google Apps
    • [EFE-114] Advanced Access
    • [EFE-115] Desktop Publications
    • [EFE-116] Web Publications
    • [EFE-129] Albanian Language and Writing Culture
    • [EFE-131] Albanian Language for Specific
    • [EFE-102] Academic Writing in English
    • [EFE-103] Academic Writing in Macedonian
    • [EFE-104] Academic Writing in Albanian
    • [EFE-105] German Language (level 1 to 4)
    • [EFE-117] Environmental Protection
    • [EFE-121] Professional Careеr Development
    • [EFE-132] Human Rights and Freedoms

Semester 3

  • [BE-301] [6 ECTS] Macroeconomics
    The main course aim is to enable students deeply to understand the knowledge of Macroeconomics, from critical analysis to the designing solutions for the optimization of the national economy. Special accent will be at practical understanding the macroeconomic situations and haw to create policy based on analysis and research at the national level. The aspect of Management of the M/E policy like IS-LM model and their application. The driver macroeconomic factors for a national economy with special accent to the national economy of R. Macedonia. All these aspects, from Demand driving Economy to the Supply Economy and their theory.
  • [BE-302] [6 ECTS] Core Management Concepts
    The aim of this course is introducing with basic of management and its definition of the basic concepts of management for every manager. Learning of this subject also aims to give students understanding of basic management functions including planning, staffing, organizing and control. Upon completion of this course, the student should be able to attain the following: - Given a description of a specific business enterprise, write a management job description that incorporates the basic activities that comprise the management process and the job of a manager; - Given a case describing an external environmental situation, write a report analyzing the internal and external environment of the business, including the organization’s culture and the challenges of operating in an international, multinational and global environment;. - Given a specific ethical situation, analyze the situation and prepare recommendations for a course of action that will promote ethical behavior; - Given an example of a strategic business plan, evaluate the plan and provide recommendations on how the plan could be improved to include more effective planning and decision making; - Given an example of a proposed organizational structure, identify the functional elements of the organization, create an organizational design and provide recommendations on organizational change; - Given a leadership scenario, recommend a course of action that incorporates the concepts of motivation and leadership to influence behavior; - Given a situation that calls for improving interpersonal relations within an organization, create a plan of action that addresses the communication process, as well as the issues and methods of managing the interpersonal relationships of individuals, work groups and teams; - Given a situation that requires the need to regulate organizational activities, students will create a management plan that includes the basic elements of control in organizations and that specifies how to manage information, operations, quality and productivity;
  • [BE-303] [6 ECTS] Financial Accounting
    Aims of the course program: The process of recording, summarizing and reporting the myriad of transactions from a business to provide an accurate picture of its financial position and performance is the main aim of this program. The primary objective of financial accounting is the preparation of financial statements, balance sheets, income statements and cash flow statements that encapsulate the company's operating performance over a particular period, and financial position at a specific point in time. These statements - which are generally prepared quarterly and annually, and in accordance with GAAP and are aimed at external parties including investors, creditors and regulators and tax authorities.
  • [6 ECTS] Elective course
    • [EBE-01] Management Accounting
    • [EBE-02] Economics of Development
    • [EBE-03] Mathematical Economics
    • [EBE-04] Managerial Economics
    • [EBE-05] Development Management
    • [EBE-06] Social Research Methods
    • [EBE-07] Consumer Behaviour
    • [?B?-08] Portfolio Management
    • [EBE-09] Project Management
    • [EBE-10] E-commerce
    • [EBE-11] Small Business and Entrepreneurship
    • [EBE-12] Product Design and Management
    • [EBE-13] International Finances
    • [EBE-14] International Economics
    • [EBE-15] Strategy
  • [6 ECTS] Free elective course
    • [EFE-107] Public Speaking
    • [EFE-127] Debate and Presentation Skills
    • [EFE-108] Intercultural Studies
    • [EFE-108] Communication Skills
    • [EFE-110] Advanced Excel
    • [EFE-111] Advanced IT skills
    • [EFE-112] Advanced Word
    • [EFE-113] Google Apps
    • [EFE-114] Advanced Access
    • [EFE-115] Desktop Publications
    • [EFE-116] Web Publications
    • [EFE-129] Albanian Language and Writing Culture
    • [EFE-131] Albanian Language for Specific
    • [EFE-102] Academic Writing in English
    • [EFE-103] Academic Writing in Macedonian
    • [EFE-104] Academic Writing in Albanian
    • [EFE-105] German Language (level 1 to 4)
    • [EFE-117] Environmental Protection
    • [EFE-121] Professional Careеr Development
    • [EFE-132] Human Rights and Freedoms

Semester 4

  • [BE-401] [6 ECTS] Principles of Banking and Finance
    Aims of the course program: - to enable discussion about financial systems, why it exist, and how are structured; - to explain why the relative importance of financial intermediaries and financial markets is different around the world, and how bank-based systems differ from market-based systems; - to understand why financial intermediaries exist, and discuss the role of transaction costs and information asymmetry theories in providing an economic justification; - explain why banks need regulation, and illustrate the key reasons for and against the regulation of banking systems; - discuss the main types of risks faced by banks, and use the main techniques employed by banks to manage their risks - explain how to value real assets and financial assets, and use the key capital budgeting techniques (Net present Value and Internal Rate of Return); - explain how to value financial assets (bonds and shares); - to understand how risk affects the return of a risky asset, and hence how risk affects the value of the asset in equilibrium under the fundamental asset pricing paradigms (Capital Asset Pricing Model and Asset Pricing Theory); - to discuss whether stock prices reflect all available information, and evaluate the empirical evidence on informational efficiency in financial markets;
  • [BE-403] [6 ECTS] Human Resources Management
    This course is about Human Resource Management (HRM) strategies, policies and practices. It examines the approach taken by commercial firms and other organizations to recruit, retain and motivate their employees. This includes everything from recruitment and selection techniques (which initiate the relationship between firm and employee), to the formal and informal institutions that determine how employees are managed, and all the way to policies on separation (which determine whether, and in what circumstances, employees are to be let go). The course follows the perspective adopted in many HRM textbooks, and looks at the subject from an organizational point of view, as well as acknowledging the wide range of factors, which shape HRM strategies, policies and practices, including government and regulatory frameworks. This course is designed to: - give students an introduction to the key elements of human resource management; - demonstrate how the social sciences can assist in understanding the management of human resources; and to examine and evaluate human resource policies and practices of organizations; - help students examine the different theories which try to explain the relationship between HRM and organizational performance; - develop students’ ability to analyze and critically evaluate HP policies and practices; In broad terms, the following actives are for this course: - Gaining factual knowledge (terminology, classifications, trends); - Learning fundamental principles, generalizations, or theories; - Learning to apply course materials (to improve thinking problem solving and decisions); - Developing specific skills, competencies, and points of view needed by professionals in the field most closely related to this course; - Acquiring skills in working with others as a member of a team; - Developing creative capacities; - Developing skill in expressing oneself orally or in writing; - Learning how to find and use resources for answering questions or solving problems; - Developing a clearer understanding of, and commitment to, personal values; - Learning to analyze and critically evaluate ideas, arguments and points of view; - Acquiring an interest in learning more by asking questions and seeing answers;
  • [BE-402] [6 ECTS] Basic Econometrics
    Цели на предметната програма: - Да ја разберат употребата на регресивна анализа и сродните техники за квантифицирање на економските односи и за тестирање на економските теории. - Да се оспособат студентите да читаат и да вреднуваат емпириските трудови во стручни списанија. - Да им се овозможи на студентите со практично искуство преку користење мејнстрим регресивни програми да се вклопуваат во економски модели. Aims of the course program: - To develop an understanding of the use of regression analysis and related techniques for quantifying economic relationships and testing economic theories; - To equip students to read and evaluate empirical papers in professional journals; - To provide students with practical experience of using mainstream regression programs to fit economic models;
  • [6 ECTS] Elective course
    • [EBE-01] Management Accounting
    • [EBE-02] Economics of Development
    • [EBE-03] Mathematical Economics
    • [EBE-04] Managerial Economics
    • [EBE-05] Development Management
    • [EBE-06] Social Research Methods
    • [EBE-07] Consumer Behaviour
    • [?B?-08] Portfolio Management
    • [EBE-09] Project Management
    • [EBE-10] E-commerce
    • [EBE-11] Small Business and Entrepreneurship
    • [EBE-12] Product Design and Management
    • [EBE-13] International Finances
    • [EBE-14] International Economics
    • [EBE-15] Strategy
  • [6 ECTS] Elective course from general elective courses
    • [GEBE-01] Information Systems and Organisations
    • [GEBE-02] The Business Law of Organisations
    • [GEBE-03] Business Communication
    • [GEBE-04] Democracy and Democratization
    • [GEBE-05] Democratic Politics and the State
    • [GEBE-06] Distrubution and Sale Methods
    • [GEBE-07] Career Development

Semester 5

  • [BE-501] [6 ECTS] Corporate Finances
    The aim of the course is required theoretically fund transfer knowledge and skills of students in the area of financial management, as well as training students with contemporary theoretical knowledge and experience in the analysis of the fundamental concepts of corporate finance, financial and real investment projects and their evaluation money through the time dimension. The aim of the course continues to train students how to use adequate sources of financing, efficient capital management and determination of proper structure, determining appropriate policy allocation of profits dividend policy and finalize the financial planning and forecasting, etc. Achieving the intended goals of the subject, students create new opportunities for competitive access to the labor market or effectively manage their own real businesses.
  • [BE-502] [6 ECTS] Monetary Economics
    Aims of the course program: • are to develop understanding of the theories that relate to the existence of money, explaining why it is demanded by individuals and used in the trading process; • are develop an understanding of the monetary transmission mechanism, whereby decisions made by the monetary authorities concerning money supplies or interest rates can have real effects on the economy; • are develop a number of macroeconomic models through which monetary policy can be evaluated. Such models will include both Classical and Keynesian schools of thought and will consider why monetary policy matters and when monetary policy decisions may be impotent; • are develop understanding of the uncertainties policy-makers face and how policy makers may deal with these;
  • [BE-503] [6 ECTS] Principles of Marketing
    This course provides students with an overview of the marketing function with an emphasis on creating value through marketing, market research, consumer behavior, pricing strategies, marketing channels, and various methods of promotion. Students will: - understand the role of marketing within society and within an economic system; - learn the vital role of marketing within a firm and the necessary relationships between marketing and the other functional areas of business; - consider the various decision areas within marketing and the tools and methods used by marketing managers for making decisions; - learn key marketing principles and terminology and concepts; - appreciate how a marketing perspective is important in their personal and professional development;
  • [6 ECTS] Elective course
    • [EBE-01] Management Accounting
    • [EBE-02] Economics of Development
    • [EBE-03] Mathematical Economics
    • [EBE-04] Managerial Economics
    • [EBE-05] Development Management
    • [EBE-06] Social Research Methods
    • [EBE-07] Consumer Behaviour
    • [?B?-08] Portfolio Management
    • [EBE-09] Project Management
    • [EBE-10] E-commerce
    • [EBE-11] Small Business and Entrepreneurship
    • [EBE-12] Product Design and Management
    • [EBE-13] International Finances
    • [EBE-14] International Economics
    • [EBE-15] Strategy
  • [6 ECTS] Elective course from general elective courses
    • [GEBE-01] Information Systems and Organisations
    • [GEBE-02] The Business Law of Organisations
    • [GEBE-03] Business Communication
    • [GEBE-04] Democracy and Democratization
    • [GEBE-05] Democratic Politics and the State
    • [GEBE-06] Distrubution and Sale Methods
    • [GEBE-07] Career Development

Semester 6

  • [BE-601] [6 ECTS] Business Modeling with Excel
    Aims of the course program: - Understand how enterprises create value by applying business model thinking; - Using excel functions for business model; - Apply excel in different spheres of business through modeling;
  • [BE-602] [6 ECTS] Public Finances
    Aims of the course program: Public finance issues are central to economic and political discourse worldwide, as one of the primary functions of government is to generate resources from its people to spend money improving the lives of its people. However, while the concept of “money from the people, for the people” is quite simple conceptually, there is little agreement on how best to raise and spend public funds in practice. Thus, the primary course objective is to provide students with the tools, and the skills to use these tools, to understand the underlying concepts and practical tradeoffs entailed in public finance policy alternatives. This will prepare students to be informed consumers of public finance data, and thus, equip students to engage constructively in the formulation, implementation, and evaluation of public finance policies
  • [BE-603] [6 ECTS] Labour Economics
    Aims of the course program: Students will be able: - to understand the market process of wage determination through the interaction of labor supply and labor demand; - to analyze the impact of labor market imperfections and various government policies on wages and incentives to work; - to understand and appreciate implications of various political and economic institutions on wages and employment; - to analyze and to differentiate between labor market structures; - to understand unemployment, different kind of unemployment and policy to reduce it; - to analyze relationships between inflation and unemployment;
  • [6 ECTS] Elective course from general elective courses
    • [GEBE-01] Information Systems and Organisations
    • [GEBE-02] The Business Law of Organisations
    • [GEBE-03] Business Communication
    • [GEBE-04] Democracy and Democratization
    • [GEBE-05] Democratic Politics and the State
    • [GEBE-06] Distrubution and Sale Methods
    • [GEBE-07] Career Development
  • [6 ECTS] Elective course
    • [EBE-01] Management Accounting
    • [EBE-02] Economics of Development
    • [EBE-03] Mathematical Economics
    • [EBE-04] Managerial Economics
    • [EBE-05] Development Management
    • [EBE-06] Social Research Methods
    • [EBE-07] Consumer Behaviour
    • [?B?-08] Portfolio Management
    • [EBE-09] Project Management
    • [EBE-10] E-commerce
    • [EBE-11] Small Business and Entrepreneurship
    • [EBE-12] Product Design and Management
    • [EBE-13] International Finances
    • [EBE-14] International Economics
    • [EBE-15] Strategy
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