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Programme:

Business and Economics

Module: Finance and Banking
Study Cycle: First Cycle (Undergraduate)
Faculty: Business and Economics
Programme Code: FB-240
Academic year: 2019 / 2020
Title: Bachelor of Business and Economics / Module: finance and banking
ECTS: 240 (4 years) Accrediation
Decision: Decision for running of the program

The Curriculum of Business and Economics - Finance and Banking is a balanced combination of primary specific theoretical knowledge and professional skills. The structure of the program includes studies that are by nature dynamic and interactive. The program is designed to offer topics in the field of economics, finance 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 economic theories, financial analysis in the banking sector, econometrics and their interpretation, and managerial skills during decision making.
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 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 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;
- Acquires 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;
- To 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

  • [CBE-102] [6 ECTS] Principles of Marketing
    The purpose of this course is for students to acquire knowledge of basic concepts that are embedded in the marketing functions of modern organizations. The focus is on concepts and issues associated with marketing products and services to consumers. Specifically, the goal is for students to learn about the marketing environment by analyzing the market and implementing successful marketing strategies in this environment. Students will also be able to apply scientific concepts to design a complete marketing plan for their product. This course contributes to familiarizing students with various activities in the field of marketing, contributing company to be competitive and successful in the market.
  • [BE-401] [6 ECTS] Principles of Banking and Finance
    Aims of the course program: - Discuss why financial systems exist, and how they are structured - 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 - 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 or Return) - Explain how to value financial assets (bonds and stocks) - Capital Asset Pricing Model
  • [CBE-103] [6 ECTS] Principles of Management
    The purpose of this course is to familiarize students with the basics of management, its genesis, definition and basic principles which should be based on the work of any future manager. This course also aims to acquaint students with knowledge of the basic functions of management as planning, organizing, coordinating, motivating and controlling. Mastery of this subject will provide students with the ability: to learn the basics of management and to enable them to give concrete examples, to be able to see the mastery of this subject as the need and acquiring knowledge to be in the context of practical application of learning, to think of an effective way this will help them to face with business problems in their future life.
  • [3 ECTS] Albanian/Macedonian Language
    • [BS018] Macedonian Language for Beginners 1
    • [BS152] Macedonian Language for Beginners 2
    • [MLIL-01] Macedonian Language Intermediate Level 1
    • [MLIL-02] Macedonian Language Intermediate Level 2
    • [MAPP1010] Macedonian Language for Professional Purposes 1
    • [MAPP1020] Macedonian Language for Professional Purposes 2
  • [3 ECTS] English Language
    • [EE-01] Elementary English
    • [PIE-02] Pre-Intermediate English
    • [IE-03] Intermediate English
    • [UIE-04] Upper-Intermediate English
    • [AE-05] Advanced English
  • [6 ECTS] Elective course (Language, Skills or Culture)
    • [EFE-105] German Language
    • [BSIL3010] Italian Language
    • [EF999] French Language
    • [EFE-132] Human Rights and Freedoms
    • [EARTL-01] Assisted Reproductive Technology and Law
    • [CCS084] Intercultural Communication
    • [EWC-01] Web Creation
    • [EDMD-02] Digital Media Design
    • [EITSOP-03] IT Skills Office Productivity
    • [EMOA-01] Microsoft Office Access
    • [EMOE-02] Microsoft Office Excel
    • [EMOPP-03] Microsoft Office PowerPoint
    • [EMOW-04] Microsoft Office Word
    • [CLE-203] Legal Writing and Reasoning
    • [EITL-02] Information Technology (IT) Law
    • [EFE-121] Professional Careеr Development
    • [EATN-02] Administrative Terminology and Nomotechnics
    • [ESSD-01] Social Skills Development
    • [EPA-605] Career Search Strategies
    • [ESCHC-01] Selected Chapters in Computing
    • [EBI-502] Web Technologies
    • [EFE-102] Academic Writing in English
    • [EFE-104] Academic Writing in Albanian
    • [EFE-103] Academic Writing in Macedonian
    • [CBA112] Albanian Language for Specific Purposes
    • [EPEG-01] Practical English Grammar
    • [ECE-02] Conversational English
    • [EDOL-03] Digital and Online Literacy
    • [ELE065] Consumer Protection
    • [CLE-302] Trade Law
    • [ELE-408] Domestic Violence
    • [ECS-01] Cyber Security
    • [ESML-02] Social Media and the Law
    • [EBEM-503] Business Communication
    • [ELOD-03] Leadership and Organizational Development
    • [EFE-109] Communication Skills
    • [ECTHD-01] Critical Thinking Development
    • [EPRNM-02] Public Relations and New Media

Semester 2

  • [CBE-201] [6 ECTS] Principles of Accounting
    The purpose of the curriculum is to help students understand the essence of accounting to learn the basics of financial accounting concepts and principles of accounting. Specifically, students will gain knowledge and understanding of financial statements, their components, the basic rules of recording of accounting data, and the utilization of accounting documents.
  • [CBE-202] [6 ECTS] Business Mathematics
    The goals of course are as follows: - Students to be able to apply the system of linear equations to solve various problems in the field of business and economics. - Students to be able to apply their knowledge of linear models and numerous arrays for solving various problems in business and economics. - To provide students with advanced knowledge for calculating compound interest, periodic deposits, periodic rents, loans and financial decisions.
  • [CBE-203] [6 ECTS] Microeconomics
    Through this course basic knowledge of economic phenomena and for universal global microeconomic terminology are achieved. Theoretical approaches that enable obtaining self- explanatory statement about the possible applicative solutions to the problems of production, exchange and organization of individual enterprises, branches or special market are followed and analyzed. Development components provide a dynamic dimension without which less complex approaches would be unusable. The basics of macroeconomics are taught throughout the world as part of the universal effort to approximate and define similar problems and come to the possibility of being solved in similar ways throughout the world, but also to get information that can at the aggregate level help to formulate macroeconomic goals and planned strategic elements. This is part of the need to build globally similar societies in which frequent business, political labor or other contacts will be known to all participants and will be solved in the same way by using similar complementary instruments are everywhere useful.
  • [6 ECTS] Elective course (Language, Skills or Culture)
    • [?F?-105] German Language
    • [BSIL3010] Italian Language
    • [EF999] French Language
    • [EFE-132] Human Rights and Freedoms
    • [EARTL-01] Assisted Reproductive Technology and Law
    • [CCS084] Intercultural Communication
    • [EWC-01] Web Creation
    • [EDMD-02] Digital Media Design
    • [EITSOP-03] IT Skills Office Productivity
    • [EMOA-01] Microsoft Office Access
    • [EMOE-02] Microsoft Office Excel
    • [EMOPP-03] Microsoft Office PowerPoint
    • [EMOW-04] Microsoft Office Word
    • [CLE-203] Legal Writing and Reasoning
    • [EITL-02] Information Technology (IT) Law
    • [EFE-121] Professional Careеr Development
    • [EATN-02] Administrative Terminology and Nomotechnics
    • [ESSD-01] Social Skills Development
    • [EPA-605] Career Search Strategies
    • [ESCHC-01] Selected Chapters in Computing
    • [EBI-502] Web Technologies
    • [EFE-102] Academic Writing in English
    • [EFE-104] Academic Writing in Albanian
    • [EFE-103] Academic Writing in Macedonian
    • [CBA112] Albanian Language for Specific Purposes
    • [EPEG-01] Practical English Grammar
    • [ECE-02] Conversational English
    • [EDOL-03] Digital and Online Literacy
    • [ELE065] Consumer Protection
    • [CLE-302] Trade Law
    • [ELE-408] Domestic Violence
    • [ECS-01] Cyber Security
    • [ESML-02] Social Media and the Law
    • [EBEM-503] Business Communication
    • [ELOD-03] Leadership and Organizational Development
    • [EFE-109] Communication Skills
    • [ECTHD-01] Critical Thinking Development
    • [EPRNM-02] Public Relations and New Media
  • [3 ECTS] English Language
    • [EE-01] Elementary English
    • [PIE-02] Pre-Intermediate English
    • [IE-03] Intermediate English
    • [UIE-04] Upper-Intermediate English
    • [AE-05] Advanced English
  • [3 ECTS] Albanian/Macedonian Language
    • [BS018] Macedonian Language for Beginners 1
    • [BS152] Macedonian Language for Beginners 2
    • [MLIL-01] Macedonian Language Intermediate Level 1
    • [MLIL-02] Macedonian Language Intermediate Level 2
    • [MAPP1010] Macedonian Language for Professional Purposes 1
    • [MAPP1020] Macedonian Language for Professional Purposes 2

Semester 3

  • [CBE-301] [6 ECTS] Statistics
    The purpose of the course is for students to acquire knowledge to be able to: - Use descriptive analysis when analyzing data. - Use probability and random variables in solving business problems. - Understand the statistical lock which is the basic for interpreting results and making business decisions. - Use correlation and simple multiple regression. - Know the basics of analysis of variance. - Understand the basics of index numbers and the methods for analyzing time series. Prerequisites for entering the course: Business Math.
  • [CBE-302] [6 ECTS] Business Calculus
    The program aims to enable students: - To prove that they have knowledge and understanding of dependencies between the sizes that is used in business and economics and simple mathematical models. - To identify the relationship between differential calculus and functions of business and economics. - To apply these relations to study the dependencies between sizes in business and economics. - To apply differential calculus to solve various problems in applied business and economics. Prerequisites for entering the course: Business Math.
  • [CBE-303] [6 ECTS] Macroeconomics
    Students will gain knowledge about: - Macroeconomic concepts and categories that is a prerequisite for the functioning of a national economy as a part of the broader global economic system. - Importance of the principal macroeconomic indicators such as gross national product, national income, economic growth, economic cycle, investment and public consumption, inflation, unemployment, money and banks, budget, balance of payment and more. - Basic tools of macroeconomic analysis (aggregate supply and demand) and macroeconomic policies (monetary and fiscal policy) and others. - The efficient function of a national economy, comparing it with modern market economies, indicating in that direction differences, similarities and opportunities for future development of the respective economy. - Knowledge of macroeconomics, which will allow easier access to other advanced macroeconomic courses. Prerequisites for entering the course: Introduction to Economics and Business, Microeconomics.
  • [6 ECTS] English for Specific Purposes 1
    • [BEEN-01] Business English 1
    • [BEEN-02] Business English 2
  • [6 ECTS] Elective course (Language, Skills or Culture)
    • [?F?-105] German Language
    • [BSIL3010] Italian Language
    • [EF999] French Language
    • [EFE-132] Human Rights and Freedoms
    • [EARTL-01] Assisted Reproductive Technology and Law
    • [CCS084] Intercultural Communication
    • [EWC-01] Web Creation
    • [EDMD-02] Digital Media Design
    • [EITSOP-03] IT Skills Office Productivity
    • [EMOA-01] Microsoft Office Access
    • [EMOE-02] Microsoft Office Excel
    • [EMOPP-03] Microsoft Office PowerPoint
    • [EMOW-04] Microsoft Office Word
    • [CLE-203] Legal Writing and Reasoning
    • [EITL-02] Information Technology (IT) Law
    • [EFE-121] Professional Careеr Development
    • [EATN-02] Administrative Terminology and Nomotechnics
    • [ESSD-01] Social Skills Development
    • [EPA-605] Career Search Strategies
    • [ESCHC-01] Selected Chapters in Computing
    • [EBI-502] Web Technologies
    • [EFE-102] Academic Writing in English
    • [EFE-104] Academic Writing in Albanian
    • [EFE-103] Academic Writing in Macedonian
    • [CBA112] Albanian Language for Specific Purposes
    • [EPEG-01] Practical English Grammar
    • [ECE-02] Conversational English
    • [EDOL-03] Digital and Online Literacy
    • [ELE065] Consumer Protection
    • [CLE-302] Trade Law
    • [ELE-408] Domestic Violence
    • [ECS-01] Cyber Security
    • [ESML-02] Social Media and the Law
    • [EBEM-503] Business Communication
    • [ELOD-03] Leadership and Organizational Development
    • [EFE-109] Communication Skills
    • [ECTHD-01] Critical Thinking Development
    • [EPRNM-02] Public Relations and New Media

Semester 4

  • [CBE-401] [6 ECTS] Operational Management
    The purpose of the course is for students to acquire knowledge to be able: - To prepare and make decisions in which products and services are made. - To prepare and make decisions in which products and services are controlled. - To find a suitable approach to solve any situation connected with the complex problems of products and services. - To learn about various activities of the organization and functioning of the overall system operating management. - To prepare and make decisions that create conditions for products and services. Prerequisites for entering the course: Principles of Management.
  • [CBE-402] [6 ECTS] Financial Accounting
    The purpose of this course is to equip students with advanced knowledge of accounting and their application in the accounting system of business entities. Prerequisites for entering the course: Principles of Accounting.
  • [BE-402] [6 ECTS] Basic Econometrics
    The purpose of this course is to learn the basics of econometrics, which will help students to conduct simple research. Content: This course focuses on basic research methods that can be used within all social sciences. It pays attention to simple quantitative and qualitative research methods. This course is intended for individuals who need to conduct social research as part of academic studies. Prerequisites for entering the course: Business mathematics, Business statistics.
  • [6 ECTS] Elective course (Language, Skills or Culture)
    • [?F?-105] German Language
    • [BSIL3010] Italian Language
    • [EF999] French Language
    • [EFE-132] Human Rights and Freedoms
    • [EARTL-01] Assisted Reproductive Technology and Law
    • [CCS084] Intercultural Communication
    • [EWC-01] Web Creation
    • [EDMD-02] Digital Media Design
    • [EITSOP-03] IT Skills Office Productivity
    • [EMOA-01] Microsoft Office Access
    • [EMOE-02] Microsoft Office Excel
    • [EMOPP-03] Microsoft Office PowerPoint
    • [EMOW-04] Microsoft Office Word
    • [CLE-203] Legal Writing and Reasoning
    • [EITL-02] Information Technology (IT) Law
    • [EFE-121] Professional Careеr Development
    • [EATN-02] Administrative Terminology and Nomotechnics
    • [ESSD-01] Social Skills Development
    • [EPA-605] Career Search Strategies
    • [ESCHC-01] Selected Chapters in Computing
    • [EBI-502] Web Technologies
    • [EFE-102] Academic Writing in English
    • [EFE-104] Academic Writing in Albanian
    • [EFE-103] Academic Writing in Macedonian
    • [CBA112] Albanian Language for Specific Purposes
    • [EPEG-01] Practical English Grammar
    • [ECE-02] Conversational English
    • [EDOL-03] Digital and Online Literacy
    • [ELE065] Consumer Protection
    • [CLE-302] Trade Law
    • [ELE-408] Domestic Violence
    • [ECS-01] Cyber Security
    • [ESML-02] Social Media and the Law
    • [EBEM-503] Business Communication
    • [ELOD-03] Leadership and Organizational Development
    • [EFE-109] Communication Skills
    • [ECTHD-01] Critical Thinking Development
    • [EPRNM-02] Public Relations and New Media
  • [6 ECTS] English for Specific Purposes 2
    • [BEEN-01] Business English 1
    • [BEEN-02] Business English 2

Semester 5

  • [EBEM-507] [6 ECTS] Management Accounting
    The purpose of the course is for students to gain knowledge of accounting, which is used by managers when making decisions. Specifically, to familiarize students with the concepts of accounting needed for the managers and the necessary tools for making managerial decisions. Prerequisites for entering the course: Principles of accounting.
  • [CBEF-502] [6 ECTS] Monetary Economics
    The main objective of this course is to introduce the students to the impact of monetary policy on interest rates and asset markets, such as bond market and the stock market. In addition, the course will provide the students of the economics with the analytical tools necessary to analyze and solve relevant and current monetary economics issues. The monetary economics, however, which is the focus of this course, mainly deals with the function of money and monetary aggregates, demand and supply for money, conduct of monetary policy, targets, tools and its operation. In addition, the monetary policy strategy, transmission mechanism of monetary policy, and monetary and fiscal policy will be discussed. Moreover, this course is intended to introduce students to the analytical techniques, instruments and policy issues relevant to monetary economies. An important objective of this course is to provide students with the ability to use appropriate techniques-tools of monetary economics analysis as to theoretical and applied problems relating to monetary economics. Prerequisites for entering course: Introduction to business and economy, macroeconomics, microeconomics.
  • [BE-501] [6 ECTS] Corporate Finance
    The aim of the course is to 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, creates new opportunities to students for competitive access to the labor market or effectively manage their own real businesses.
  • [6 ECTS] Elective course (Professional)
    • [CBE-101] Introduction to Economics and Business
    • [CBE-403] Marketing Management
    • [CBEM-601] Strategic Management
    • [EFB-01] Quantitative Finances
    • [CBEF-501] Financial Management
    • [EBEF-504] Money and Banks
    • [EBE-14] International Economics
    • [CBEE-503] Investment Economics
    • [EBEM-503] Business Communication
    • [CBEM-502] Human Resources Management
    • [CBA132] Business Ethics
    • [EBA050] European Integration Economics
    • [EBEF-701] Local Finances
    • [EBA087] Insurance Management
    • [EBEF-704] Labour Market
    • [EBEF-801] Financial Modeling
    • [EBEF-802] Fiscal and Monetary System in the EU
    • [EBE-410] Business Law
    • [EFB-02] Game Theory and Business Strategy
    • [EBEM-603] E-Commerce
    • [EBEM-505] Management Information Systems
    • [EBEE-604] Environmental Economics
    • [EBEE-605] Economics of Public Funds
    • [EBA034] Local Economic Development
    • [EBEE-702] Global Economics
    • [EBEE-801] Insurance Economics
    • [EBEE-802] Economic and Political Systems
    • [EBEE-803] Behavioral Economics
    • [EBE-402] Portfolio Мanagement
    • [EFB-03] Personal Finances
    • [EBE-04] Managerial Economics
    • [EFB-04] Industrial Economics
  • [6 ECTS] Elective course (Language, Skills or Culture)
    • [?F?-105] German Language
    • [BSIL3010] Italian Language
    • [EF999] French Language
    • [EFE-132] Human Rights and Freedoms
    • [EARTL-01] Assisted Reproductive Technology and Law
    • [CCS084] Intercultural Communication
    • [EWC-01] Web Creation
    • [EDMD-02] Digital Media Design
    • [EITSOP-03] IT Skills Office Productivity
    • [EMOA-01] Microsoft Office Access
    • [EMOE-02] Microsoft Office Excel
    • [EMOPP-03] Microsoft Office PowerPoint
    • [EMOW-04] Microsoft Office Word
    • [CLE-203] Legal Writing and Reasoning
    • [EITL-02] Information Technology (IT) Law
    • [EFE-121] Professional Careеr Development
    • [EATN-02] Administrative Terminology and Nomotechnics
    • [ESSD-01] Social Skills Development
    • [EPA-605] Career Search Strategies
    • [ESCHC-01] Selected Chapters in Computing
    • [EBI-502] Web Technologies
    • [EFE-102] Academic Writing in English
    • [EFE-104] Academic Writing in Albanian
    • [EFE-103] Academic Writing in Macedonian
    • [CBA112] Albanian Language for Specific Purposes
    • [EPEG-01] Practical English Grammar
    • [ECE-02] Conversational English
    • [EDOL-03] Digital and Online Literacy
    • [ELE065] Consumer Protection
    • [CLE-302] Trade Law
    • [ELE-408] Domestic Violence
    • [ECS-01] Cyber Security
    • [ESML-02] Social Media and the Law
    • [EBEM-503] Business Communication
    • [ELOD-03] Leadership and Organizational Development
    • [EFE-109] Communication Skills
    • [ECTHD-01] Critical Thinking Development
    • [EPRNM-02] Public Relations and New Media

Semester 6

  • [EBE-406] [6 ECTS] Investment Management
    Students gain theoretical knowledge and practical skills in the sphere of investments and investment decisions in the enterprises in the country and the modern world. All this is accomplished through a special emphasis on the analysis of investments with special emphasis on various forms and patterns of investments and investment process, evaluation of feasibility of investment projects to their investment decisions. This course also aims to bring modern methods for determining and selecting the most effective real investment projects that will contribute for achieving more positive financial results; analysis of contemporary practices and trends for management subtle economic category in recent years investment and investment processes, these questions allow students easier access to business venture, an opportunity to undertake the management of finances in their family business, or for easier access to employer. Prerequisites for entering the course: Management principles.
  • [CBEF-602] [6 ECTS] Public Finance
    Aims of the course program: - Students will acquire knowledge of public finance as a major mean of macroeconomic policies and as a fundamental instrument for the functioning of a national economy as a whole and as a subsystem of an economic system of the country. - Students will acquire knowledge of public goods and externality costs, allocation of public revenue, allocation and reallocation of revenue, comparative aspects of public finance in developed countries and those in transition, the specifics of the fiscal systems of Macedonia, trends and challenges, fiscal decentralization etc. - Students will gain knowledge of budget and extra-budgetary funds as main instruments of fiscal policy, procedures about preparation, preparation, approval, implementation and control of the budget, and techniques of budget as the local and central level. - To create a clear picture for students about the functioning of a fiscal system, in terms of various fiscal theories with which they can perform comparative difference and find common points of operation of these systems in different countries. - Students are introduced with the main indicators of fiscal policy in the Republic of North Macedonia, they create a real database in terms of long-term fiscal trends in NRM by encouraging students to work independent seminar papers and essays on fiscal policy. Prerequisites for entering the course: Introduction to economy and business, macroeconomics, microeconomic.
  • [EBA5090] [6 ECTS] Knowledge Economy
    Aims of the course program: - to develop a holistic vision of the state-of-the art, the tendencies and the challenges of the knowledge-based economy; - to introduce the basic ideas, theories and industries of knowledge-based economy; - to examine the main knowledge management provisions and to give a grounding in the best knowledge management practices and techniques; - to introduce knowledge technologies used by businesses, being the basis of an effective knowledge management system; - to demonstrate how to identify knowledge processes in practice, manage them by using IT; - to specify the criteria of human capital formation and development; - to analyze best practices, challenges and opportunities of the implementation of knowledge-based economy in Macedonia and other countries by reviewing and assessing the features of the modern state of knowledge-based economy development; - to prepare students to operate in a dynamic enterprise environment in the context of intellectual capital management.
  • [6 ECTS] Elective course (Professional)
    • [CBE-101] Introduction to Economics and Business
    • [CBE-403] Marketing Management
    • [CBEM-601] Strategic Management
    • [EFB-01] Quantitative Finances
    • [CBEF-501] Financial Management
    • [EBEF-504] Money and Banks
    • [EBE-14] International Economics
    • [CBEE-503] Investment Economics
    • [EBEM-503] Business Communication
    • [CBEM-502] Human Resources Management
    • [CBA132] Business Ethics
    • [EBA050] European Integration Economics
    • [EBEF-701] Local Finances
    • [EBA087] Insurance Management
    • [EBEF-704] Labour Market
    • [EBEF-801] Financial Modeling
    • [EBEF-802] Fiscal and Monetary System in the EU
    • [EBE-410] Business Law
    • [EFB-02] Game Theory and Business Strategy
    • [EBEM-603] E-Commerce
    • [EBEM-505] Management Information Systems
    • [EBEE-604] Environmental Economics
    • [EBEE-605] Economics of Public Funds
    • [EBA034] Local Economic Development
    • [EBEE-702] Global Economics
    • [EBEE-801] Insurance Economics
    • [EBEE-802] Economic and Political Systems
    • [EBEE-803] Behavioral Economics
    • [EBE-402] Portfolio Мanagement
    • [EFB-03] Personal Finances
    • [EBE-04] Managerial Economics
    • [EFB-04] Industrial Economics
  • [6 ECTS] Elective course (Professional)
    • [CBE-101] Introduction to Economics and Business
    • [CBE-403] Marketing Management
    • [CBEM-601] Strategic Management
    • [EFB-01] Quantitative Finances
    • [CBEF-501] Financial Management
    • [EBEF-504] Money and Banks
    • [EBE-14] International Economics
    • [CBEE-503] Investment Economics
    • [EBEM-503] Business Communication
    • [CBEM-502] Human Resources Management
    • [CBA132] Business Ethics
    • [EBA050] European Integration Economics
    • [EBEF-701] Local Finances
    • [EBA087] Insurance Management
    • [EBEF-704] Labour Market
    • [EBEF-801] Financial Modeling
    • [EBEF-802] Fiscal and Monetary System in the EU
    • [EBE-410] Business Law
    • [EFB-02] Game Theory and Business Strategy
    • [EBEM-603] E-Commerce
    • [EBEM-505] Management Information Systems
    • [EBEE-604] Environmental Economics
    • [EBEE-605] Economics of Public Funds
    • [EBA034] Local Economic Development
    • [EBEE-702] Global Economics
    • [EBEE-801] Insurance Economics
    • [EBEE-802] Economic and Political Systems
    • [EBEE-803] Behavioral Economics
    • [EBE-402] Portfolio Мanagement
    • [EFB-03] Personal Finances
    • [EBE-04] Managerial Economics
    • [EFB-04] Industrial Economics

Semester 7

  • [EBEF-602] [6 ECTS] Analysis of Financial Reports
    This course covers the following topics: fundamentals of financial analysis, types of financial analysis, an analytical framework for analyzing financial statements, system of financial reporting, basic financial statements, accounting profits and assets, analysis of cash flows, financial indicators and financial analysis, integrated analysis, long-term assets, analysis of financial liabilities, financial statement analysis, synthesis, analysis of capital structure. Prerequisites for entering the course: Principles of accounting.
  • [FB-701] [6 ECTS] Risk Management and Insurance
    Aims of the course program: This course is designed to give a basic understanding of risk management and insurance. Particular attention is paid to the role of risk manager, insurance concept and types, insurance contracts, framework and legislation, mechanism of insurance and managing, the attitude of investors to risk, sources of risks (identification and categorization), how to apply integrated risk management through the use of modern approaches and techniques, quantitative and qualitative measurement and assessment of risk, probability techniques, risk diversification, insurance market, and similar.
  • [CBEF-601] [6 ECTS] International Finance
    The purpose of this course is for students to acquire knowledge and skills of how international financial markets function, the exchange rate fluctuations, to investigate methods of risk management in the global market. Prerequisites for entering the course: Introduction to business, Macroeconomics
  • [6 ECTS] Elective course (Professional)
    • [CBE-101] Introduction to Economics and Business
    • [CBE-403] Marketing Management
    • [CBEM-601] Strategic Management
    • [EFB-01] Quantitative Finances
    • [CBEF-501] Financial Management
    • [EBEF-504] Money and Banks
    • [EBE-14] International Economics
    • [CBEE-503] Investment Economics
    • [EBEM-503] Business Communication
    • [CBEM-502] Human Resources Management
    • [CBA132] Business Ethics
    • [EBA050] European Integration Economics
    • [EBEF-701] Local Finances
    • [EBA087] Insurance Management
    • [EBEF-704] Labour Market
    • [EBEF-801] Financial Modeling
    • [EBEF-802] Fiscal and Monetary System in the EU
    • [EBE-410] Business Law
    • [EFB-02] Game Theory and Business Strategy
    • [EBEM-603] E-Commerce
    • [EBEM-505] Management Information Systems
    • [EBEE-604] Environmental Economics
    • [EBEE-605] Economics of Public Funds
    • [EBA034] Local Economic Development
    • [EBEE-702] Global Economics
    • [EBEE-801] Insurance Economics
    • [EBEE-802] Economic and Political Systems
    • [EBEE-803] Behavioral Economics
    • [EBE-402] Portfolio Мanagement
    • [EFB-03] Personal Finances
    • [EBE-04] Managerial Economics
    • [EFB-04] Industrial Economics
  • [6 ECTS] Elective course
    • [CBE-101] Introduction to Economics and Business
    • [CBE-403] Marketing Management
    • [CBEM-601] Strategic Management
    • [EFB-01] Quantitative Finances
    • [CBEF-501] Financial Management
    • [EBEF-504] Money and Banks
    • [EBE-14] International Economics
    • [CBEE-503] Investment Economics
    • [EBEM-503] Business Communication
    • [CBEM-502] Human Resources Management
    • [CBA132] Business Ethics
    • [EBA050] European Integration Economics
    • [EBEF-701] Local Finances
    • [EBA087] Insurance Management
    • [EBEF-704] Labour Market
    • [EBEF-801] Financial Modeling
    • [EBEF-802] Fiscal and Monetary System in the EU
    • [EBE-410] Business Law
    • [EFB-02] Game Theory and Business Strategy
    • [EBEM-603] E-Commerce
    • [EBEM-505] Management Information Systems
    • [EBEE-604] Environmental Economics
    • [EBEE-605] Economics of Public Funds
    • [EBA034] Local Economic Development
    • [EBEE-702] Global Economics
    • [EBEE-801] Insurance Economics
    • [EBEE-802] Economic and Political Systems
    • [EBEE-803] Behavioral Economics
    • [EBE-402] Portfolio Мanagement
    • [EFB-03] Personal Finances
    • [EBE-04] Managerial Economics
    • [EFB-04] Industrial Economics

Semester 8

  • [FB-801] [6 ECTS] Asset Pricing аnd Financial Markets
    Aims of the course program: Students will gain an understanding of the basic principles behind the functioning of financial markets such as money markets, capital markets, foreign exchange markets, etc., and financial institutions like, banks, insurance companies, pension funds, investment funds, etc. The study material will enable students to become familiar with the basic principles of finance: the maximization of wealth, the time value of money, the conflict between risk and yield, and so on. Then to get acquainted with various financial instruments in the process and at the same time to understand the principles of valuation of financial instruments. Students will become aware of the financial markets (types and characteristics) and types of financial instruments traded on individual markets. They will especially be aware of the types and characteristics of different financial institutions that not only affect our daily lives but also deal with the transfer of large amounts of funds which then affect the profits of the companies, the production of goods and services, and the well-being of our economy.
  • [FB-802] [6 ECTS] Strategic Bank Management
    There are some aims of this course program such as: - To analyze the main structural features of the banking sector and develop strategies that position the bank favorably in relation to competition and influence banking sector to enhance industry attractiveness. - To recognize the different stages of banking sector evolution and recommend strategies appropriate to each stage. - To appraise the resources and capabilities of the bank in terms of their ability to create sustainable competitive advantage. - To analyze dynamics in competitive rivalry including competitive action and response, first-mover advantage, co-operation etc. - To recognize strategic decisions that present ethical challenges and make appropriate recommendations for ethical decision-making. - To reassess asset management and private banking. To explore and anticipate the future of asset management and private banking.
  • [FB-803] [6 ECTS] Financial Inter-mediation
    This is a dynamic subject which aims to provide insights into and understanding of theories and practices related to financial intermediation and risk management techniques currently being used in major banks throughout the world. The objectives specifically include: - to develop understanding of theories of financial intermediation; - to develop understanding of concepts and practices related to risk management process and techniques applied within major financial intermediaries; - to develop understanding of recent developments in financial risk management and regulation, including credit risk models, securitization, derivative instruments and capital adequacy.
  • [6 ECTS] Elective course
    • [CBE-101] Introduction to Economics and Business
    • [CBE-403] Marketing Management
    • [CBEM-601] Strategic Management
    • [EFB-01] Quantitative Finances
    • [CBEF-501] Financial Management
    • [EBEF-504] Money and Banks
    • [EBE-14] International Economics
    • [CBEE-503] Investment Economics
    • [EBEM-503] Business Communication
    • [CBEM-502] Human Resources Management
    • [CBA132] Business Ethics
    • [EBA050] European Integration Economics
    • [EBEF-701] Local Finances
    • [EBA087] Insurance Management
    • [EBEF-704] Labour Market
    • [EBEF-801] Financial Modeling
    • [EBEF-802] Fiscal and Monetary System in the EU
    • [EBE-410] Business Law
    • [EFB-02] Game Theory and Business Strategy
    • [EBEM-603] E-Commerce
    • [EBEM-505] Management Information Systems
    • [EBEE-604] Environmental Economics
    • [EBEE-605] Economics of Public Funds
    • [EBA034] Local Economic Development
    • [EBEE-702] Global Economics
    • [EBEE-801] Insurance Economics
    • [EBEE-802] Economic and Political Systems
    • [EBEE-803] Behavioral Economics
    • [EBE-402] Portfolio Мanagement
    • [EFB-03] Personal Finances
    • [EBE-04] Managerial Economics
    • [EFB-04] Industrial Economics
  • [6 ECTS] Capstone Project
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