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Programme:

Finance and Accounting

Study Cycle: Second Cycle (Postgraduate)
Faculty: Business and Economics
Programme Code: N-MBAFINACC120C
Academic year: 2017 / 2018
Title: Master of Еconomic Sciences - Field: Finance and Accounting
ECTS: 120 (2 years) Accrediation

Program’s aims are:
- Raising the level of management and supervision of enterprises and development of contemporary management;
- Training and developing of contemporary profile managers: entrepreneurs, prepared to take actions, as well as risks related to any initiative, flexible, determined and courageous individuals;
- Education of highly-qualified and professional managers with leadership abilities and desire to face the risks of the new millennium;
- Creation of managers with new perspectives and way of reasoning, developing of skills for predicting the future and taking the risks and possibilities that emerge in the business of the 21st century.

Upon successful completion of the program students will be able:
- To work individually and in groups on research methods that are more relevant for meeting the needs of the population,
- To elaborate the differences and needs of the community, in professional and scientific terms.
- To actively participate in creating macroeconomic and microeconomic policy.
- To be inform and to contribute in scientific and professional elaborations.

Knowledge and understanding

- Calculation of basic macroeconomic aggregates and critical analysis of current macroeconomic policies.
- Providing a critical review of development policies and their application in national economy.

Applying knowledge and understanding

- The ability to diagnose the actual market developments, predict the tendencies of these developments and analyze the effects of measures of economic policy on market movements.

Making judgement

- Able to be involved in the position of leaders in profitable and unprofitable organizations in the country and around the world.
- Analysis of the general processes of economic development in the world and especially the processes of transition, regionalization and globalization of world economic trends.

Communication skills

- Allow the development of personal skills, communication, research and other important skills needed for employment.
- Allowing students to actively engage in teaching and to conduct independent research in all areas of business and economics.

Learning skills

- Develop the concept of critical thinking of the students.
- Allowing the acquisition of research skills and experience of management, marketing and public finance, in private and nonprofit organizations.

Semester 1

  • [MCBA1018] [6 ECTS] Finances for Managers
    The course aims to provide students theoretical and practical knowledge in the field of finance management of businesses entities. The course provides students (potential managers) sufficient familiarity with the financial information in order to enable analysis and interpretation of financial data in any investment and financial decisions. The course also aims to enable students to develop skills for evaluating the business entity and managing various forms of financing of business activities as well as prediction and decision making about investing now and in the future.
  • [MCBA1011] [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.
  • [MCBA1019] [6 ECTS] Advanced Strategic Management
    The main purpose of the course in the post graduated studies is that students can deepen their knowledge in the field of strategic management through concrete analysis of cases in Republic of Macedonia and worldwide. The course goal in this direction is to be processed/analyzed in a more detailed way all of the relevant topics on the strategic management field and the same to come alive with practice examples from different organizations.
  • [6 ECTS] Elective course
    • [EMBA1015] Applied Statistics
    • [EMBA1017] Money and Banks
    • [CMBA1018] Financial Markets and Institutions
    • [CMBA07] Financial Report Analisys
    • [EMBA10] Auditing
    • [EMBA1021] Game Theory
    • [EMBA1022] Urban Economics
    • [EMBA1023] Public Sector Accounting
    • [EMBA1024] Advanced Management Accounting
    • [EMBA1025] Investment Economics
  • [6 ECTS] Free elective course
    • [MFE01] Rhetoric
    • [MFE02] Multilingualism and multiculturalism
    • [MFE03] Selected Advanced Topics in IT Applications for Preparing a Scientific Paper
    • [MFE04] Selected Advanced Topics in Applications for Statistical Data Processing
    • [MFE05] Professional Communication
    • [MFE09] Labor Market
    • [MFE08] Methodology of Teaching
    • [MFE10] Philosophy of Social Sciences
    • [MFE11] Project Management
    • [MFE12] Optimization Methods
    • [MFE13] Ethical and Legal Issues in Information Technology (IT)
    • [MFE14] Protection of Human Rights

Semester 2

  • [MCFA2012] [6 ECTS] Corporate Finances
    The course is an advanced course in Financial Management through which students have the opportunity to broaden their knowledge in the field. Thus, special attention is given to the following areas: sources of company financing, capital structure, financing the current transactions, investment financing, financial policy, and financial analysis.
  • [MCBA2013] [6 ECTS] Advanced Financial Accounting
    The primary objective of advanced financial accounting is preparing main financial statements, such as balance sheets, income statement, tax income statement and cash flow report, tax balance with which the reports reflect the company's operating performance over a reporting period as well as financial condition at a specific point in time. These statements - which are generally prepared quarterly and annually, and in accordance with GAAP and ISFR are aimed at external parties including investors, creditors and regulators and tax authorities. In addition to the compilation of the main financial reports, it is also intended to provide competent professional interpretation of the financial data in order to adopt the right economic decisions.
  • [MCBA2014] [6 ECTS] Advanced International Finances
    The aim of the course program is to provide an introduction to International Financial Management and discuss why it is important to study international finance and distinguishes international finance from domestic finance. It also introduces the various types of international monetary systems under which the world economy can function and has functioned at various times. Additionally, a detailed discussion of the European Monetary Union is presented, balance-of-payment concepts and accounting. The course also provides an overview of corporate governance around the world. Corporate governance structure varies greatly across countries, reflecting diverse cultural, economic, political, and legal environments.
  • [6 ECTS] Elective course
    • [EMBA1015] Applied Statistics
    • [EMBA1017] Money and Banks
    • [CMBA1018] Financial Markets and Institutions
    • [CMBA07] Financial Report Analisys
    • [EMBA10] Auditing
    • [EMBA1021] Game Theory
    • [EMBA1022] Urban Economics
    • [EMBA1023] Public Sector Accounting
    • [EMBA1024] Advanced Management Accounting
    • [EMBA1025] Investment Economics
  • [6 ECTS] Free elective course
    • [MFE01] Rhetoric
    • [MFE02] Multilingualism and multiculturalism
    • [MFE03] Selected Advanced Topics in IT Applications for Preparing a Scientific Paper
    • [MFE04] Selected Advanced Topics in Applications for Statistical Data Processing
    • [MFE05] Professional Communication
    • [MFE09] Labor Market
    • [MFE08] Methodology of Teaching
    • [MFE10] Philosophy of Social Sciences
    • [MFE11] Project Management
    • [MFE12] Optimization Methods
    • [MFE13] Ethical and Legal Issues in Information Technology (IT)
    • [MFE14] Protection of Human Rights

Semester 3

  • [FIN0101] [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.
  • [MCBA1014] [6 ECTS] Monetary Economics
    The course includes the basic monetary concepts and policies, development of the monetary frame, macroeconomic and monetary analysis and utilization of regression analysis. It should provide students (conceptually and methodologically) with possibilities to analyze the different monetary policies, the relation between the monetary aggregates and macroeconomic variables, as well as the role of the different monetary and financial institutions in the process of the supply of money.
  • [EMFA2014] [6 ECTS] Portfolio Management and Risk Management
    The course in Portfolio Management and Risk Management includes the elaboration of the main basic concepts and functions of the financial system, market brokers, tools, organization and operation parimles, 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.
  • [6 ECTS] Elective course
    • [EMBA1015] Applied Statistics
    • [EMBA1017] Money and Banks
    • [CMBA1018] Financial Markets and Institutions
    • [CMBA07] Financial Report Analisys
    • [EMBA10] Auditing
    • [EMBA1021] Game Theory
    • [EMBA1022] Urban Economics
    • [EMBA1023] Public Sector Accounting
    • [EMBA1024] Advanced Management Accounting
    • [EMBA1025] Investment Economics
  • [6 ECTS] Elective course
    • [EMBA1015] Applied Statistics
    • [EMBA1017] Money and Banks
    • [CMBA1018] Financial Markets and Institutions
    • [CMBA07] Financial Report Analisys
    • [EMBA10] Auditing
    • [EMBA1021] Game Theory
    • [EMBA1022] Urban Economics
    • [EMBA1023] Public Sector Accounting
    • [EMBA1024] Advanced Management Accounting
    • [EMBA1025] Investment Economics

Semester 4

  • [MA-THESIS-BE-120] [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: Finance and Accounting.
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