Total ECTS for I semester - UGDarhiva.ugd.edu.mk/pdf/sprogrami_en/ekonomski_en... · inflation, unemployment, savings, investments, ... 12. Learning methods: Oral and writing method

1

FINANCIAL MANAGEMENT

I year – First semester

Code Course Credits Classes Total Engagement (TE)*

1 4EK100112

Principals of Economics 8 3+2+2 216

2 2FI104312 Mathematics 1 8 3+2+2 216

3 2FI110112 Informatics 6 2+2+1 156

4 UGD102712 Sports and Recreation 0

Two elective courses I (Faculty)

5 Elective course 4 2+1+1 120


Total ECTS 8

Total ECTS for I semester 30 12+8+7 828

Elective courses (Faculty)

4EK130412 Е-Business 4 2+1+1 120

4EK134712 Decision Making Theory 4 2+1+1 120

4EK100312 Microeconomics 4 2+1+1 120

4EK131712 Corporate Governance 4 2+1+1 120

I year – Second semester


7 4EK110112 Principles of Finance 8 3+2+2 216

8 2FI104512 Statistics 6 2+2+1 156

9 4EK120112 Financial Accounting 6 2+2+1 156

One elective course I (Faculty)


One elective course II (University)

11 Elective course (University) 6 2+1+1 156

Total ECTS for II semester 30 11+9+6 804


4EK112712 Local Finance 4 2+1+1 120

4EK100412 Macroeconomics 4 2+1+1 120

II year – Third semester


12 4EK110312 Public Finance 8 3+2+2 216

13 4EK110412 Monetary Economy 8 3+2+2 216

14 4PR102012 Commercial Law 6 2+2+1 156




2

Total ECTS 8

Total ECTS for III semester 30 12+8+7 828


4EK104012 Business language 2 4 2+1+1 120

4EK122012 International Financial Reporting Standards

4 2+1+1 120

4EK122212 Analysis of Financial Reports 4 2+1+1 120

II year – Fourth semester


17 2FI103712 Financial Mathematics 8 3+2+2 216

18 4EK102912 Enterprise Economics 6 2+2+1 156

19 4EK110512 Financial Markets and Institutions

6 2+2+1 156





Total ECTS for IV semester 30 11+9+6 804



III year – Fifth semester


22 4EK140212 Financial Management 8 3+2+2 216

23 4EK111512 Banking 8 3+2+2 216

24 4EK11112 Foreign Exchange System 6 2+2+1 156




Total ECTS 8

Total ECTS for V semester 30 12+8+7 828



4EK103212 International Trade 4 2+1+1 120

4EK101612 Economics of Public Sector 4 2+1+1 120

III year – Sixth semester


27 4EK140312 Banking Management 8 3+2+2 216

28 4EK112212 Insurance 6 2+2+1 156

29 4EK131212 Management 6 2+2+1 156



3



Total ECTS for VI semester 30 11+9+6 804 Elective courses (Faculty)


IV year – Seventh semester


32 4EK120212 Managerial Accounting 8 3+2+2 216

33 4EK140912 Investment Management 8 3+2+2 216

34 4EK140112 International Financial Management

6 2+2+1 156

Two elective courses I (faculty)



Total ECTS 8

Total ECTS for VII semester 30 12+8+7 828



2FI104612 Econometrics 4 2+1+1 120

4EK112012 International Finance 4 2+1+1 120

IV year – Eight semester


37 Graduate Paper 8 0+0+8 192

38 4EK141112 Credit Policy 6 2+2+1 156

39 4EK140512 Securities and Portfolio Management

6 2+2+1 156





Total ECTS for VIII semester 30 8+7+12 780


4EK135412 Strategic Management 4 2+1+1 120

4EK111412 Customs Policy 4 2+1+1 120

4

Statistical indicators for study program: Table 1: Structure of courses in the study program

Type of courses Number Credits Total

Obligatory courses (8) credits 12 8 96



Elective courses I (Faculty) 12 4 48

Elective courses II (University) 4 6 24

Total 41 24 240 Table 2: Type of courses and their participation in the total number %

Type of courses Number %

Obligatory courses 25 60.97561

Elective courses I (Faculty) 12 29.26829

Elective courses II (University) 4 9.756098

Total 41 100

5

Addition number 3

Course Syllabus I cycle of studies

1. Title of the course Principle of Economics

2. Code 4EK100112

3. Curriculum Financial management; International economics; Health management; Management and entrepreneurship; Accounting and audit; Marketing, Banking, finance and insurance

4. Organizing body of the Curriculum (unit, i.e institute, department, section)

Faculty of Economics

5. Cycle of studies (I, II, III cycle) I cycle of studies

6. Academic year/term First year/ I term 7. ECTS credits 8

8. Teacher Full professor Krume Nikoloski

9. Preconditions of the enrollment of the course

/

10. Course objectives(Competencies): How in market conditions consumer maximizes satisfaction, and enterprises optimize production and maximize profits acting in different market structures; Why economics is a science of choice and how market economies resolves the central economic problem; What are the responsibilities of government regulation of businesses and correcting areas of market failure; How to define key macroeconomic aggregates: gross domestic product, inflation, unemployment, savings, investments, exchange rate etc, which is their essence and what are their links and interdependence; to understand the essence dometite and limitations of key macroeconomic policies and their use in different stages of economic cycle

11. Contents of the course: The course will cover the following topics: Introduction to economic science, Fundamental economic problems, Basic elements of demand and supply, Theory of consumer choice; Basics of the theory of production, Cost analysis, Market structures - perfect competition, monopoly, oligopoly, Markets of production factors and determining the prices of capital, land and labor; State and business - the failures of market and economic regulation of the state; Key macroeconomic terms, Gross domestic and Gross national product, Economic growth and productivity, Economic cycles, Consumption, Savings and investments: Cash and banks; inflation and unemployment, fiscal and monetary policy; International Economics - International exchange of goods and production factors; Balance of payments, Exchange rate; Modern macroeconomic schools

12. Learning methods: Oral and writing method of presentation

13. Total disposable study hours 216

14. Distribution of the disposable study hours

3+2+2

15. Forms of teaching activities 15.1. Teaching- theoretical lectures

3 hours

15.2. Practical (laboratorial, auditorium), seminars, team working

2 hours

16. Other forms of teaching activities

16.1. Learning of teaching material

1 hour

16.2. Preparations for practical

1 hour

16.3. Consultation

6

17. Method of evaluation

17.1. Tests& colloquiums 70 scores

17.2. Seminar work/ project ( presentation: written and oral)

10 scores

17.3. Active role& Activity and participation 20 scores

18. Evaluation criteria (scores/ grade)

under 50 scores 5 (five) (F)

from 51 to 60scores 6 (six) (E)

from 61 to70 scores 7 (seven) (D)

from 71 to 80scores 8 (eight) (C)

from 81to 90 scores 9 (nine) (B)

from 91 to 100 scores

10 (ten) (A)

19. Precondition for getting a Professor’s signature and passing of the final exam

Success of 60% of the colloquiums and the final exam

20. Language of teaching Macedonian, English

21. Quality evaluation method of the teaching process

Self evaluation

Addition number 3


1. Title of the course E-Business

2. Code 4ЕК130412

3. Curriculum Financial Management

4. Organizing body of the Curriculum (unit, i.e. institute, department, section)

Faculty of economics


22.

Literature

22.1.

Obligatory literature & Required text

Ordinal number

Author Title Publisher year

1. Taki Fiti Principle of Microeconomics

Faculty of economy, Skopje

2004

2. Taki Fiti Principle of Macroeconomics


2004

22.2.

Additional literature

Ordinal number


1. Mankiw G.

Principles of Economics, Third Edition

Thomson South-Western, London

2004

2. Stiglitz J., Walsh C. Economics, Third Edition

Norton & Company, New York

2002

7

6. Academic year / term Firs / 1 7. ECTS credits 4

8. Teacher Prof.d-r Riste Temjanovski


Principles of economy

10. Course objectives(Competencies): The main goals of the study matter is to get knowledge with meaning, usage, application and security in e-business operations.

11. Contents of the course: In contemporary economic science study of е-business becomes necessary and imperative in contemporary work. The purpose of the program is available in a clear and acceptable way to meet the needs, models, application and protection of electronic business. Here are the basic models of electronic commerce, electronic banking, e-business infrastructure and so on. Electronic business or short e-business aims to expand the powers of an organizational unit in the development of innovative information and communication technologies within the organization and beyond, through full interaction with their partners and clients. This process should be considered only as simply the inclusion of modern technological advances to make these changes in the organizational unit. In order to successfully facilitate the management of e-business, are necessary broad spiritual values in marketing and sales, through the development of new products and services, manufacturing and logistic input and output procedures. Organizations also need change management processes and seeking new technologies through the support of traditional activities such as management of human resources. Such an approach business includes attitudes and opinions, how electronic communications could be used to enhance all aspects of managing the supply chain. It also involves optimizing the organizational value chain, i.e. the correlation between party shall supply a company with the resources page claimants of goods and services.




2+1+1


2


1



16.2. Preparation for practical 1

16.3. Consultations

17. The method of evaluation

17.1. Tests& colloquiums


10 scores

17.3. Active role &activity and participation 20 scores





8

from 71 to 80 scores 8 (eight) (C)

from 81 to 90 scores 9 (nine) (B)

from 91 to 100scores 10 (ten) (A)





Self evaluation

Addition number 3


1. Title of the course Decision Making Theory

2. Code 4ЕК134712





6. Academic year / term First/I 7. ECTS credits 4

8. Teacher Prof d-r Riste Temjanovski


10. Course objectives(Competencies): The purpose of this course is to familiarize students with quantitative tools that are mostly used in business. For example, models of theory-making and the decision tree will show us useful information for business situations with numerous alternative decisions, each with a given probability and monetary value that is associated with a particular outcome. Through multiple regression prediction and students will be able to make projections for future sales of certain goods or future use of the goods or services.

11. Contents of the course:

22.

Literature

22.1.

Obligatory literature& Required text

Ordinal number


1. Riste Temjanovski E-business UGD 2012

2. Kenet L. Laudon, Carol Gersio Traver

E-commerce Ars Lamina 2010

22.2.


Ordinal number

Author Title Publisher Year

1. Uros Tamara E-commerce BPS 2005

2. Bjelic Predrag E-commerce Institut za medjunarodnu privredu

2000

9

Introduction to the theory of decision making, wood relevance, prediction, Excel and multiple regression, controlling inventory (list of goods), models for linear programming, transportacija and transmission, poreduvanje theory, application of models for linear programming.




2+1+1


2


1



1

16.2. Preparation for practical

16.3. Consultations




10 scores













Self evaluation

22.

Literature

22.1.


Ordinal number


1. Russell and Taylor Operations Management

Wiley 2003

2. Austin and Burns Management Science: An Aid for Managerial Decision- Making

Macmillan 1985

22.2. Additional literature

10

Addition number 3


1. Title of the course Microeconomics

2. Code 4ЕК100312

3. Curriculum Financial management; International economics; Health management; Management and entrepreneurship



5. Cycle of studies (I, II, III cycle) I cycle of studies (2+1+1)


8. Teacher Full professor Krume Nikoloski


/

10. Course objectives(Competencies): The teaching of this subject is conceived as a logical extension of microeconomic knowledge acquired from the subject Principles of Economics. In this subject are studied two basic problems - the balance i.e the way of setting-up the price of individual goods in different market conditions by analyzing the supply and demand and optimum, ie behavior of consumers and producers in certain and uncertain conditions through marginal analysis.

11. Contents of the course: The course will cover the following topics: Introductory considerations, The firm's behavior in different market conditions, Consumer behavior and demand; Market (partially) balance; Market factors of production; Microeconomic Policy; Market failures; Economics of Welfare, General equilibrium, Behavior of the firm and tender.




2+1+1


2 hours


1 hour



1 hour


16.3. Consultation


Ordinal number


1. Gorgijoski B. Theory of decision EF 2003

2. Welch, David A Decisions, Decisions: The art of Effective Decision Making

Prometheus books, New York

2001

11



10 scores









10 (ten) (A)





Self evaluation

Addition number 3


1. Title of the course Corporate Governance

2. Code 4ЕК131712

3. Curriculum Financial management



22.

Literature

22.1.


Ordinal number


1. Hal Varian Microeconomics, 4-edition

Macedonian translate, Skopje

2010

2. Taki Fiti Principle of Microeconomics


2008

22.2.


Ordinal number


1. Alan Griffiths, Stuart Wall

Theory and Applications, второ издание.

Person Education Publishing, London.

2000

2. Paul Krugman, Robin Wells

Microeconomics Worth Publishers, New York

2005

12


6. Academic year / term First year/ I term

7. ECTS credits 4

8. Teacher Assistant professor Milan Ilievski Assistant M.Sc. Marina Radosavljevik Bojceva


10. Course objectives(Competencies): In this course, students will learn about the basic tenets of corporate governance, corporate management of the company, management bodies in joint stock companies, and the rights of shareholders in a corporation.

11. Contents of the course: Introduction to Corporate Governance (definition, history, standards of corporate governance), benefits of corporate governance, cost of corporate governance, corporate governance in Macedonia, structural changes in trade at the beginning of the new millennium, transparency and disclosure of data and information, corporate management and governing bodies in joint stock companies, rights of shareholders in joint stock company, Assembly of the company, corporate management of the company, corporate securities, and corporate transactions.




2+1+1


2 hours


1 hours



16.2. Preparation for practical 1 hours

16.3. Consultations




10 scores













Self evaluation

13

Appendix number 3

Program of first cycle of study

1. Title of the subject Principles of Finance

2. Code 4ЕК110112

3. Study program Financial Management

4. Organizer of the study program (unit, institute, department)

Faculty of Economics University “Goce Delchev”- Shtip

5. Level (first, second, third cycle)

First cycle of study

6. Study year / semester First/second 7. Number of EKTS Credits

8

8. Professor Professor PhD Risto Fotov

9. Conditions for enrollment for the subject

/

10. Goals of the study program: The subject gives answers to questions that are connected to problems with money, their creation, flow, abolition, for many complicated actions in the economy, for income flows in general, especially for its allocation, distribution, forms, instruments and matter for its spending. The subject gives answer to questions which determinates affect keeping the money value, maintaining the optimum range of money supply in order continuous and normal flow of the process of reproduction.

11. Content of the subject: Finance, definition and subject of studying; Financial system and its elements; Financial system- structure; Money and their development; Functions of the money; Increase and decrease of value of the money; Money supply, optimum range; Money demand; Strategies for managing money supply; Money assembly; Monetary credit policy

22.

Literature

22.1.


Ordinal number


1. Guidelines for Good Corporate Governance Macedonian joint stock companies

22.2.


Ordinal number


1. Michael Metten Corporate Governance

2010

2. Emerald Group Corporate Governance

2004

14

12. Methods of studying: Method of oral and method of written interpretation

13. Total available amount of time 216

14. Distribution of the available time 3+2+2

15. Forms of study activities 15.1. Lectures- theoretical tuition

3

15.2. Practical tuition (laboratory conditions), seminars, team work

2

16. Other forms of activities 16.1. Studying for the lectures

1

16.2. Preparation for practical tuition

1

16.3. Consultation

17. Method of grading

17.1. Tests 70 points

17.2. Seminar work/ project (presentation: written and oral)

10 points

17.3. Activity and participation 20 points

18. Criteria for grading (points/ grade)

up to 50 points 5 (five) (F)

from 51 to 60 points 6 (six) (E)

from 61 to 70 points 7 (seven) (D)

from 71 to 80 points 8 (eight) (C)

from 81 to 90 points 9 (nine) (B)

from 91 to 100 points 10 (ten) (A)

19. Condition for getting signature and taking the final exam

Achieved 42 points from particular exams, finished seminar work and regular attendance of the theoretical and practical tuition

20. Language of the lectures Macedonian

21. Method of tracking the quality of the lectures

Self-evaluation

22.

Literature

22.1.

Basic Literature

Ord. num

Author Title Editor Year

1. Risto Fotov Basics of Finance Faculty of Economics, Shtip

2007

2. Risto Fotov Basics of Finance-tasks

Faculty of Economics, Shtip

2007

3.

22.2.

Additional Literature

Ord. num


1. S. A. Ross, R. W. Westerfield, J. Jaffe

Corporate Finance, McGraw-Hill 2005

2. R. A. Brealey i S. C. Myers, F. Allen

Principles of Corporate Finance

McGraw-Hill 2006

15

Addition number 3


1. Title of the course Statistics for business and economics

2. Code 2FI104512

3. Curriculum Financial management; International economics; Health management; Management and entrepreneurship; Accounting and audit; Marketing, Banking, finance and insurance




6. Academic year/term First year/ II term

7. ECTS credits 6

8. Teacher Full professor Trajko Miceski


/

10. Course objectives(Competencies): The subject enables understanding of the basic of statistical analysis. The aim of the course is to qualify the students to use the basic statistical methods while solving business problems. With the application of the statistical methodology the students will be able to discover, perceive and explain the regularities and the relations among statistical and economic appearances and phenomenon.

11. Contents of the course: The course will cover the following topics: Introduction in Statistics, Descriptive statistics;Random variable and probability distributions, Statistical sampling, Statistical estimation, Hypothesis and testing of statistical hypothesis, Analysis of variance, Chi square test, Simple linear regression and correlation, Multiple linear regression and correlation, Indexes, Analysis of time series.




2+2+1


2 hours


2 hours




1 hours

16.3. Consultation 1 hour




10 scores






16




10 (ten) (A)





Self evaluation

Addition number 3


1. Title of the course Financial accounting

2. Code 4ЕК120112





6. Academic year / term First year/ II term

7. ECTS credits 6

8. Teacher Assistant professor Aleksandar Kostadinovski Teaching assistant Zlatko Bezovski


10. Course objectives (Competencies): Students gain a satisfactory knowledge of basic accounting principles and the manner of their implementation; they recognized potential users of accounting information and basic modalities in external and internal reporting; they understand the basic financial statements, i.e balance sheet, income statement and

22.

Literature

22.1.


Ordinal number


1. Gligor Poposki,Vasilka Poposka Trenevska

Statistics UKLO, Bitola 2001

2. Pol Newbold, Viliam L. Carlson,Betty Torn

Statistics for business and economics (translator from English language Vesna Bucevska)

MAGOR, Skopje

2010

22.2.


Ordinal number


1.

17

statement of cash flows and the information each of them offers to the potential readers, they learn the basic techniques of record of assets, liabilities and equity through the application of the accounting equation; they become familiar with the accounting records of income and expenditure, as integral components of the income statement.

11. Contents of the course: Introduction to financial accounting; Accounting documents; Accounting records; Financial reports of enterprises; Accounting forms and methods; Accounts as a means of accounting procedures; Accounting procedures; Fixed assets, Current assets, Liabilities, Financial result and equity; Accounting errors; Final account and periodic calculation




2+2+1


2


2




16.3. Consultations




10 scores










42 points from partial exams, prepared paper work and attendance at lectures and tutorials.



Self evaluation

22.

Literature

22.1.


Ordinal number


1. Aleksandar Kostadinovski

Fundamentals of Financial Accounting script

Faculty of Economics - Stip

2009

18

Addition number 3


1. Title of the course Local Finance

2. Code 4EK112712





6. Academic year / term First / II 7. ECTS credits 4

8. Teacher Assistant professor Krste Sajnoski


Principles of Economics

10. Course objectives(Competencies): After overcoming the curriculum content, students will receive theoretical and practical framework necessary for creative and effective approach to decision making in the field of local finance. Specifically, they can successfully participate in the planning of local revenues and expenditures and critically evaluate decisions and steps taken by the central government in terms of local funding.

11. Contents of the course: Historical development of local finances, fiscal decentralization and local funding; Meaning and Development of Local Finance, Local Government Finance in the European Union: Fiscal decentralization in Macedonia; sources of revenue for funding, local taxes, fees and charges; system sharing taxes, grants and income from borrowing, local expenditures; Local financial management, local budgets




2+1+1

15. Forms of teaching activities 15.1. Teaching- theoretical 2

2. Aleksandar Kostadinovski

Financial Accounting-practicum

Faculty of Economics - Stip

2009

3. Trajko Rusevski Account plan Union of Accountants of the Republic of Macedonia, Skopje,

2003

22.2.


Ordinal number


1. Albrecht Stice Financial Accouniting- concepts&applications

South-Western, Cengage Learning,

2011

2. G.T.Horngren, G.L.Sandem, D.Filbrik

Introduction to Financial Accounting

MAGOR translation

19

lectures


1



1


16.3. Consultations




10 scores













Self evaluation

22.

Literature

22.1.


Ordinal

number


1. Atanasovski Zivko Javni finansii Economic

faculty-Skopje

2004

2. Maksimovska,V.А Fiskalnata decentralizacija I finansiranje na lokalnata samouprava vo RM

Zdruzenie na finansiski rabotnici na lokalnata samouprava-Veles

2007

22.2.


Ordinal number


1. Dafflon, Bernard, Ed. Local Public Finance in Europe

University of Fribourg Switzerland

2002

2. Fisher, C. Ronald State and Local Public Thompson, 2007

20

Addition number 3


1. Title of the course Macroeconomics

2. Code 4EK100412






8. Teacher Full professor Aleksandar Kostadinovski


Principle of economics

10. Course objectives(Competencies): Knowledge and understanding of basic macroeconomic concepts and theories, as well as knowledge and understanding of macroeconomic policies.

11. Contents of the course: The course will cover the following topics: Unemployment, inflation, Fiscal Policy1 - Budget, discretionary fiscal policy and automatic stabilizers, Fiscal Policy2 - Budget deficits, public debt, Monetary policy 1 Monetary - Central Bank, Monetary policy 2 - Instruments of monetary policy, Economic growth 1 - Economic growth and growth factors, Economic growth 2 - Keynesian theory of growth, the economy in the long term 1 - Neoclasical theory of growth, the economy in the long term 2 - Patterns of growth, quality of life 1 - Human development, Quality of life 2 - Poverty and Inequality.




2+1+1


2 hours


1 hour



1 hour


16.3. Consultation




10 scores


Finance South-Western,

21








10 (ten) (A)





Self evaluation

Addition number 3


1. Title of the course Public Finance

2. Code 4ЕK110312





6. Academic year / term Second / III 7. ECTS credits 8

8. Teacher Assistant professor Olivera Gjorgieva -Trajkovska Assistant Stevan Gaber


10. Course objectives(Competencies): The subject allows students to learn about the nature, role and functions of public

22.

Literature

22.1.


Ordinal number


1. Taki Fiti Principle of Macroeconomics


2008

2. Mankiw G.

Principles of Economics, Third Edition


2004

3.

22.2.


Ordinal number


1. Mankiw G.

Macroeconomics, Fifth Edition


2004

22

finance as part of the public sector. After learning of this discipline students will be able to competently interpret and understand the public system of providing of public goods within the state functions and have the necessary theoretical knowledge about the institutions of public finances (public revenues and public spending) and their effects.

11. Contents of the course: Introduction to public finance; Tax system; fiscal relations between different levels of government; Public Debt of the Republic of Macedonia; Market failure and functions of the state; Public expenditures; Public revenues; Public debt; Budget deficit; Fiscal policy; Fiscal relations between different levels of government; Budgetary system.




3+2+2


3


2



1


16.3. Consultations




10 scores













Self evaluation

22.

Literature

22.1.


Ordinal number


1. Faculty of

23

Addition number 3


1. Title of the course Monetary Economics

2. Code 4EK111012





6. Academic year/term Second year/III term

7. ECTS credits 8

8. Teacher Assistant professor Krste Sajnoski Assistant M.A Emilija Miteva-Kacarski


10. Course objectives(Competencies): Through studying this subject, students will gain a thorough knowledge of the origin and occurrence of money, functions of money, the value of money, monetary standards, monetary aggregates, and most modern monetary theories and policies. Also, students will gain knowledge about functioning of the banking sector, especially the functioning of commercial banks by focusing on all types of banking operations.

11. Contents of the course: The course will cover the following topics: Origin and development of money; Measuring the value of money, Monetary standards, Defining money and monetary aggregates; Monetary theory, Instruments of monetary policy, Supply and demand for money; Inflation and anti-inflation policy, The role of central banks; Banking systems in some countries, Banking system in Macedonia today, Principles of banking operations; Passive active and neutral banking operations.



14. Distribution of the disposable study hours 3+2+2

Atanasovski, Zivko Public finance Economics, Skopje

2005

2. Harvey S.Rosen

Public Finance, sixth edition

Mc Grow & Hill, Inc, New York,

1995

3.

22.2.


Ordinal number


1. R.Musgrave and P.Musgrave

Public Finance in Theory and Practice

Mc Grow & Hill, Inc., New York

1988

2. Bogoev, Ksente; Zivko Atanasovski

Tax system of republic of Macedonia

Misla, Skopje

3.

24

15. Forms of teaching activities 15.1. teaching- Theoretical lectures

3 hours


2 hours

16. Other forms of teaching activities 16.1. Learning of teaching material

1 hours

16.2. Preparations for practical 1 hours

16.3. Consultations



17.2. Seminar work/ project ( presentation: written and oral) 10 scores

17.3. Active role& activity and participation 20 scores

18. Evaluation criteria (scores/ оценка) under 50 scores 5 (five) (F)

from 51 to 60 scores 6 (six) (E)

from 61 to 70 scores 7 (seven) (D)



from 91 to 100 scores 10 (ten) (A)





Self evaluation

22.

Literature

22.1.


Ordinal number


1. Ljubco Trpeski Money and banking Economy Press, Skopje

2003

2 Ljubco Trpeski Monetary economics Skenpoint, Skopje

2010

22.2.

Additional literature & Supplies

Ordinal number


1. Bofinger, Peter Monetary Policy - Goals, Institutions, Strategies, and Instruments

Oxford University Press, Oxford

2001

2. Paul de Grauwe Economics of Monetary Union

Oxford university press

2003

25

Addition number 3


1. Title of the course Commercial Law

2. Code 4PR102012





6. Academic year / term Second year/ III term

7. ECTS credits 8

8. Teacher Assistant professor Vojo Belovski Assistant M.Sc. Marina Radosavljevik Bojceva


10. Course objectives(Competencies): Acquiring basic and profound knowledge of the institutes of Commercial Law. The main aspect of the curriculum is focused on acquiring profound knowledge of the wider area of commercial law, contracts, bills and checks. It is expected the student to acquire the theoretical and practical knowledge of commercial law.

11. Contents of the course: General commercial law, public company, limited company (shares), limited liability company, joint stock company; linking companies, status changes, termination of the company; general trade agreements, sales contracts, contracts for commercial services, contracts for transport contracts for construction; draft and check, international trade agreements, methods of payment in international trade, dispute resolution in international commercial transactions.




3+2+2


3 hours


2 hours



1 hours


16.3. Consultations




10 scores


26












Self evaluation

Addition number 3


1. Title of the course International Financial Reporting Standards

2. Code 4ЕК122012




22.

Literature

22.1.


Ordinal number


1. Milan Ilieski Commercial Law Faculty of Economics - Stip

2010

2. Aleksandar Nikolovski, Snezana Plavsik

Commercial Law Faculty of Economics - Skopje

2005

3. Aleksandar Nikolovski, Snezana Plavsik

International Trade Law

Faculty of Economics - Skopje

2004

22.2.


Ordinal number


1. Whaley J Douglas Problems and Materials on Commercial Law, eight edition

Aspen publishers

2005

2. Houtte Van Hans The Law of International Trade

Sweet & Maxwell, London

1995

27



8. Teacher Assistant professor Olivera Gjorgieva-Trajkovska Assistant Blagica Jovanova


/

10. Course objectives(Competencies): This subject discipline provides detailed, analytical explanations and extensive illustrations of all accounting standards issued by International Accounting Standards Committee. It should enable successful solution of many practical problems in applying IFRS in the recording of transactions and preparation of financial reports by commercial entities. Through detailed explanations of the theory of IFRS students can more easily understand generally accepted accounting principles and rules.

11. Contents of the course: Introduction to International Financial Reporting Standards, Presentation of Financial Statements: Balance Sheet, Income Statement, Statement of changes in equity; Statement of cash flows; Determining the fair value; Financial instruments; Supplies; Recognition of revenues; Property, plant and equipment; Intangible assets; Long-term and current liabilities; Leasing; Business combinations and consolidated financial statements.




2+1+1


2 hours


1hour



1 hour


16.3. Consultations




10 scores












28


Self evaluation

Addition number 3


1. Title of the course Analysis of Financial Statements

2. Code 4ЕК122212






8. Teacher Assistant professor Olivera Gjorgieva-Trajkovska Assistant Zlatko Bezovski


/

10. Course objectives(Competencies): The course is to assist students in understanding the meaning of the analysis of financial statements of enterprises, and it’s importance for the management and owners, on the one hand, and for creditors and other external users, on the other side. Students will be able to collect, process and use data analysis, able to calculate and interpret various financial ratios (for liquidity, profitability, solvency), and to use results obtained from the analysis for making business decisions.


22.

Literature

22.1.


Ordinal

number


1. International Accounting Standards Board

International Financial Reporting Standards

Pricewaterho use Coopers

2. Rules of conduct accounting

Official zurnal of RM

2009

3. Ankarath, N., Ghosh, T.P.

Understanding IFRS Fundamentals

John Wiley & Sons, Inc., Hoboken, New Jersey

2010

22.2.


Ordinal number


1. Slobodan Markovski, Blazo Nedev

International Accounting-Comparative Accounting Systems

Faculty of economics, Skopje

1997

2. Frederick D. Choi, Gary K. Meek

International Accounting

/

2007

29

Introduction to the analysis; Data sources for analytical examination and their expression; Methods of analysis; Types of analysis; Analysis of Financial Statements; Introduction to financial statements and other forms of financial reporting; Balance Sheet; Income Statement; Statement of cash flows; Analysis of financial statements in terms of inflation; Analysis of financial statements for specific industries; Analysis of operation of enterprises; Analysis of organizational and economic situation of the enterprise; Analysis of operations phased-functions.




2+1+1


2


1



1


16.3. Consultations




10 scores













Self evaluation

22.

Literature

22.1.


Ordinal

number


1. Fridson, Martin and Alvarez, Fernando

Financial statement analysis – a practitioner’s guide

John Wiley & Sons, New York,

2002

2. Tracy, John A.:

How to read a financial report :

John Wiley &

1999

30

Addition number 3


1. Title of the course Financial mathematics

2. Code 2FI103712





6. Academic year / term Second year/ IV term

7. ECTS credits 8

8. Teacher Assistant professor Tatjana Pacemska


10. Course objectives(Competencies): The main objective of the course is to provide knowledge to students in connection with the calculation of simple and complex interest rate and calculation of tariffs within the actuarial mathematics. Understanding and overcoming these estimates of future graduates will enable to actively participate in solving similar problems and tasks in practice: in banks, businesses, insurance companies and other financial institutions.

11. Contents of the course: Classic accounts in commercial mathematics; Chain bill, arbitrage of goods and foreign currencies; Models for calculating the interest; Periodic investments; Periodic income; Models of amortization of loans; Models for calculating mathematical reserves for separate species insurances.




3+2+2


3 hours

15.2. Practical (laboratorial, auditorium), seminars,

2 hours

wringing vital signs out of the numbers, 5th ed,

Sons Inc, New York,

22.2.


Ordinal number


1. Epstein, B.J, Jermakowicz, Е.K.:

Interpretation and Application of International Financial Reporting Standards

John Wiley & Sons, Inc., Hoboken, New Jersey,

2010

2. Saso Arsov

Financial Management

Faculty of Economics, Skopje

2008

3.

31

team working



1 hours


16.3. Consultations




10 scores













Self-evaluation

Attachment No.3

Course Syllabus for first cycle studies

22.

Literature

22.1.


Ordinal

number


1. Janev Drage Mathematics for Economists


2008

2. Janev Drage, Naumov Kire, Ivanovski Kire

Applied mathematics Faculty of Economics - Skopje

2008

22.2.


Ordinal number


1. Kočović, Jelena i Antić, Tatjana R

Collection of solved tasks of Financial and Actuarial Mathematics

Faculty of Economics -Belgrade

2008

32

1. Title of the subject Enterprise Economics

2. Code 4EK102912

3. Study program FINANCIAL MANAGEMENT

4. Organizer of the Curs (unit or institute, department, division)


5. Degree (first, second, third cycle)

First

6. Academic year / semester Second/Fourth 7. Number of ECTS credits

6

8. Teacher Assistant Professor PhD Margarita Matlievska

9. Preconditions for subject enrolling

/

10. Objectives of the curriculum (competencies): This course should help students to understand the theoretical foundations of enterprise theory and practical enterprise economic activity with an aim to find the principles of their most efective functioning and development. It includes the way of applying methods and techniques of economic analysis for evaluating the enterprise economic success.

11. Contents of the curriculum: The enterprise economics as a scientific discipline, Enterprise - basic economy entity, Starting a business, Role of enterprise location, Enterprise management, Labor payment, Costs management, Managing the enterprise efficiency and effectiveness, Enterprise economy quality management, Income management, Economic aspects of the enterprise functions, Strategy of enterprise growth and its development.

12. Learning methods: Method of oral and written exposure

13. Total time on disposal 156

14. Distribution of time 2+2+1

15. Forms of teaching activities 15.1. Lectures-theory 2

15.2. Exercises (laboratory, auditory), seminars, team work

2

16. Other forms of activities 16.1. Lectures preparation

16.2. Exercises preparation 1

16.3. Consultations

17. Method of assessment


33

17.2. Seminar paper / project (presentation: written and oral)

10 pints


18. Criteria for evaluation (score / grade)







19. Requirement for signature and passing the final exam

At least 60% success from the two colloquia or the written exam

20. Lectures language Macedonian, English

21. Method of monitoring the quality of teaching

Self-evaluation

22.

Literature:

22.1.

Compulsory literature:

No. Author Title Editor Year

1. Margarita Matlievska

Enterprise Economics, Internal Script

2010

2. Dimitar Bojadzioski, Olgica Blazeska

Enterprise Economics,

Third Edition

Faculty of Economy, Skopje

2009

22.2.

Additional literature:


1. Milenko Nikolik, Nikola Malenkovik,

Dragana Pokrajicik, Blagoja Paunovik

Enterprise Economics

Faculty of Economy, Белграде

Belgrade

2003

2. R.Jones, Gareth Organization Theory, Design

Prentice Hall, New

2004

34

AttachmentNo.3 Subject program for first cycle studies

1. Title of the subject Financial Markets and Institutions

2. Code 4EK110512


4. Organizer of the study program (unit or institute, department, division)

Faculty of Economics University “Goce Delcev” - Stip

5. Degree (first, second, third cycle) First

6. Academic year / semester Second/Fourth 7. Number of ECTS credits

6

8. Teacher Assistant Professor PhD Krste Sajnoski

9. Prerequisites for subject enrolling

10. Objectivesofthe curriculum(competencies): After studying this subject, the students should have the following knowledge: understand the basis and the practical significance of the basic principles of the finances; to know the characteristics and types of different financial instruments; to know the types and characteristics of the financial markets; to know the types and characteristics of the different financial institutions. In the last ten years have occurred fundamental, revolutionary changes on the financial markets and institutions in the world. Macedonian financial markets and institutions have also been through drastic changes in their own way. This subject will introduce the students with the main directions and content of those changes.

11. Contentsofthecurriculum: Introduction in the financial system; Financial markets; Financial instruments; Financial institutions; Financial innovations; Financial regulation; Measurement of the interest rates; Determinants of the interest rates; Money market; Stock market; Bonds market; Market of derivative financial instruments; Institutional structure of the financial markets; Commercial banks; Other deposit institutions; Non-bank financial institutions; Managing with the financial institutions.




15. Forms of teaching activities 15.1. Lectures - theory 2 hours


1 hours

16. Other forms of activities 16.1. Lectures learning 1 hours

16.2. Exercises preparation

16.3. Consultations



17.2. Seminar paper/project (presentation: written and oral)

10 points


18. Criteria for evaluation (score /grade)

to 50 points 5 (five) (F)


and Change York

35






At least 60% success from the three colloquiaor the written exam



Self-evaluation

Addition number 3


1. Title of the course Banking

2. Code 4EK111512





6. Academic year / term Third year / V term

7. ECTS credits 8

8. Teacher Ass. Prof. Violeta Madzova


10. Course objectives(Competencies): By studying this module, students will gain a thorough knowledge of the origin and occurrence of money, functions of money, the value of money, monetary standards, monetary aggregates, and most modern monetary theories and policies. Also, students will gain knowledge about the institutional organization and functioning of the banking

22.

Literature

22.1.



1. Petkovski Mihail

Financial markets and institutions

Faculty of economics-Skopje

2004

22.2.



1. Frederic Mishkin

Financial Markets and Institutions

Addison-Wesley, New York

2004

2. Atack, Jeremy & Neal, Larry

The Origins and Development of Financial Markets and Institutions

Cambridge University Press

2009

36

sector, especially the functioning of commercial banks , focusing on all types of

banking operations. 11. Contents of the course:

Notion of banks, role of banks, the role of central banks, banking systems in some countries banking system in Macedonia today, Principles of banking operations; Passive , active, neutral and own banking, operations, banking crises, International banking




3+2+2


3


2



1


16.3. Consultations




10 scores













Self evaluation

22.

Literature

22.1.


Ordinal

number


1. Ljube Trpeski Banking and bank operations

Sken point 2009

2. Goran Petreski Bank management UKIM Skopje 2008

3.

37

Appendix number 3


1. Title of the subject Financial management

2. Code 4EK140212



Faculty of Economics University “Goce Delchev”- Shtip

5. Level (first, second, third cycle) First

6. Study year / semester Third / V 7. Number of EKTS Credits

8



10. Goals of the study program: The intention of the lectures is to give the students basic knowledge from the area of management with financial assets in the enterprise, to enable them to understand the process of financial decision making and to explain the influence that financial decisions have regarding the establishment of the net worth of the company.

11. Content of the study program: Enterprise, capital and financial management ; Financial analysis and financial planing; Basic financial concepts; Long term financial decisions; Short term financial decisions; Cost of capital, leverage and dividend





3


2

16. Other forms of activities 16.1. Studying for the lectures 1


1

16.3. Consultation

22.2.


Ordinal number


1. Rose, Peter Commercial bank management, Fourth edition,

Irwin/McGraw-Hill, New York,

1999

2. Milutin Cirovic Banking Beograd 2001

3.

38




10 points


18. Criteria for grading (points/ grade)








Achieved success from 60% from the three colloquies or the written exam

20. Language of the lectures Macedonian, English


Self-evaluation

Addition number 3


1. Title of the course Foreign exchange system

2. Code 4EK11112

3. Curriculum FINANCIAL MANAGEMENT




22.

Literature

22.1.

Basic Literature

Ord. num


1. Risto Fotov Financial management

Faculty of Economics-Shtip

2010

2. James C. Van Horne, John M. Wachowicz, Jr

Fundamentals of Financial Management, 10th edition

Prentice Hall, New Jersey

1998

3.

22.2.


Ord. num


1. Arsov Saso Financial management


2008

2. Ross, Stephen, R. Westerfield, J. Jaffe

Corporate Finance

McGraw-Hill Irwin,

1999

3.

39

6. Academic year/term Third year/ V term 7. ECTS credits 6

8. Teacher Assistant professor Krste Sajnoski Assistant M.A Emilija Miteva-Kacarski


Economics

10. Course objectives(Competencies): Provide depth knowledge about the relationship between national and foreign economies, and explore the relations between currencies in the world and their consequences.

11. Contents of the course: The course will cover the following topics: Definition and objectives of the foreign exchange system and foreign exchange policy; Currencies and currency systems, Foreign currencies and exchange rates, Foreign exchange market and foreign exchange, Foreign currency restrictions and currency controls, Balance of payments and its balance, International and regional systems of payment, Principles and features of the exchange system of RM, Establishment and maintenance of the exchange rate and convertibility rate as a means and goal, Foreign exchange market in the Republic of Macedonia, Politics of the balance of payments of the Republic of Macedonia, Basic features and institutions of foreign exchange and credit relations with foreign countries.





2 hours


2 hours


1 hours


16.3. Consultations















Self evaluation

40

Addition number 3


1. Title of the course International trade

2. Code 4EK103212





6. Academic year/term Third year/ V term 7. ECTS credits 4

8. Teacher PhD Jovan Pejkovski Assistant M.A Emilija Miteva-Kacarski


International economics

10. Course objectives(Competencies): The subject discipline will help students for studying of the basic issues of foreign trade.

11. Contents of the course: The course will cover the following topics: Economic conception and international exchange, Economic transactions in foreign trade, International trade regulation, World Trade Organization, Multilateral preferential trade agreements, Qualitative instruments of foreign trade system, Quantitative measures and instruments of foreign trade system, Exchange System, Foreign Trade System of the Republic of Macedonia, Characteristics of foreign trade of the Republic of Macedonia, Balance of payment of RM





2 hours


1 hours


1 hours

22.

Literature

22.1.


Ordinal number


1. Tihomir Jovanovski The Economics of Foreign Exchange


1995

22.2.


Ordinal number


1. Milutin Cirovic Foreign exchange rates

Beograd 2000

41


16.3. Consultations















Self evaluation

Addition number 3


1. Title of the course Economics of Public Sector

2. Code 4ЕК101612





6. Academic year / term Third / V 7. ECTS credits 4

8. Teacher Full professor Ljubomir Kekenovski

22.

Literature

22.1.


Ordinal

number


1. PhD Irena Kikerkova International trade Faculty of economics, Skopje

2008

22.2.


Ordinal number


1.

42


Principles of Economy

10. Course objectives(Competencies): The course Economics of public sector is organized to help students in understanding the meaning, essence and operation of the economics of the public sector. Given that the direction in overcoming certain programs, increasingly, is specialized in the content that this discipline has largely made a move, specifically, to process those particular issues and problems that will directly enable the practical application in the hiring of university economists. Starting from the fact that it was applied scientific discipline, which should provide practical knowledge in the operation, the state and its bodies, and other institutions and corporations tied to issues of public finance, but more specific approach to defining issues of everyday operations of public finances, special attention is paid to the persistence of certain activities to exhibit functional so they can be of benefit to all participants in a particularly significant financial impact.

11. Contents of the course: Features of public finances; Economic role of the state public sector Fiscal functions; Public satisfying social needs, public choice and fiscal policy, structure and politics of public expenditure; Evaluation of public expenditure; structure and policy of public revenue; Taxes - elements principles, classification and analysis, modern tax system, taxation purposes, tax incidence, Effects of substitution, stimulation, and stabilization; Budget and Financial Policy, Budget principles, budget deficits, Fiscal policy and stabilization principles of stabilization policy, Economics of public debt, international financial adjustment; fiscal system of Macedonia, public expenditure policy, tax system and policy scope and structure of public funding.




2+1+1


2


1



1


16.3. Consultations




10 scores











43



Self evaluation

Addition number 3


1. Title of the course Bank Managment

2. Code 4ЕК140312



Faculty of Economics University “Goce Delcev”-Stip


6. Academic year / term Third year / VI term

7. ECTS credits 8

8. Teacher Ass. Prof. Violeta Madzova


10. Course objectives(Competencies):

By studying this module, students will gain a thorough knowledge of the basic types of banking risks, and ways in which banks deal with them to overcome them, the credit analysis tools, to learn the techniques of asset management and liabilities, to acquire skills to analyze the performance of the bank, especially the relationship between profitability and risk profile; to the principles of international regulation regarding capital adequacy, and the role of financial derivatives to reduce financial risks .


Basic financial statements of banks, financial indicators of banks, credit analysis and credit policy, strategies for managing liquidity, Deposit and non deposit

22.

Literature

22.1.


Ordinal

number


1. Ljubomir Kekenovski Economics of Public

Sector

Economic

faculty-Skopje

2010

22.2.


Ordinal number


1. Joseph Stieglitz Economics of Public Sector

Translation 2010

44

sources , capital and bank risk management assets and liabilities, Main trends in international banking, Off-balance sheet activities and banking services.




3+2+2


3


2



1


16.3. Consultations




10 scores













Self evaluation

22.

Literature

22.1.


Ordinal

number


1. Goran Petreski Bank management UKIM Skopje 2008

2. Violeta Madzova Credit risk management in Macedonian banking

Nam Press 2010

3.

22.2.


Ordinal numb


45

Appendix number 3


1. Title of the subject Insurance

2. Code 4EK112212




5. Level (first, second, third cycle) first

6. Study year / semester Third/Sixth 7. Number of EKTS Credits

6



10. Goals of the study program: Having into consideration that insurance is in essence economic activity, the purpose of the lectures in this subject is to help students understand the meaning and essence of economic and other parts of the insurance as a process. In that direction, the goal of this subject is all questions from this area to be elaborated adequately and more analytically, as insurance is micro economical scientific discipline and synthesis of large number of economical, juristic and mathematical elements.

11. Content of the study program: Definition, function and classification of the risk; Forms and phases of managing the risk, Term, role, meaning and function of the insurance; Elements and technical organization of the insurance; Types of insurance; Insurance and reinsurance; Insurance of property; Insurance of people; Pension insurance; Health insurance.





2


2

16. Other forms of activities 16.1. Studying for the lectures


1

16.3. Consultation



er

1. Rose, Peter Commercial bank management, Fourth edition,

Irwin/McGraw-Hill, New York,

1999

2. Ljube Trpeski Banking and bank operations

Sken Point 2009

3.

46


10 points


18. Criteria for grading (points/ grade) up to 50 points 5 (five) (F)


from 61 to70 points 7 (seven) (D)





Achieved success from 60% from the three colloquies or the written exam

20. Language of the lectures Macedonian,


Self-evaluation

Addition number 3


1. Title of the course Management

2. Code 4EK131212



Faculty of Economics "Goce Delcev" University- Stip


6. Academic year / term Third year/ VI term

7. ECTS credits 6

8. Teacher prof. Trajko Miceski


Fundamentals of Economics

22.

Literature

22.1.

Basic Literature

Ord. num Author Title Editor Year

1. Fotov Risto Insurance Faculty of Economics, Skopje

2006

2. Nikolovski А.

Insurance in the business


2005

22.2.


Ord. num


1. Marovic, Boris i Avdalovic

Insurance and managing the risk

Faculty of Economics , Subotica

2004

2. Vogan, Emet Ј, Vogan -Tereza М.

Basics of the risk and the insurance

London, New York : Routledge : Taylor &Francis,

2009

47

10. Course objectives(Competencies): The intent of the course is to assist students in understanding the basic functions and levels of management (planning, organizing, coordinating, motivating and control), the role of managers, recognizing the future horizons of management development and modern trends in the organization board of directors

11. Contents of the course: Management and managers; character of management, development of management thought, global changes in environment; management processes (planning, organizing, coordinating, motivating and controlling), Decision making; Corporate Social Responsibility and Ethics, Small Business and Entrepreneurship, Corporate Governance




2+2+1


2


2



1


16.3. Consultations




10 scores













Self evaluation

22.

Literature

22.1.


Ordinal

number


48

Addition number 3


1. Title of the course Managerial accounting

2. Code 4EK120212





6. Academic year / term Fourth year/ VII term

7. ECTS credits 8

8. Teacher Assistant professor Aleksandar Kostadinovski Teaching assistant Blagica Jovanova


10. Course objectives (Competencies): Subject discipline provides a comprehensive review of the work of the accounting manager, including the strategic and annual planning, financial reporting and managing all aspects of the accounting department. The increased workload and rising costs require from accounting expanding the scope of his role in the processing of accounting transactions and presenting financial statements, i.e it should possess significant managerial and analytical skills in order accounting departments and other departments in the enterprise to operate more effectively and efficiently.

11. Contents of the course: Accounting management within the accounting system; Internal Control; Operational and strategic planning; Sales analysis; Cost analysis of sales; Measurement and cost control of direct materials, measurement and control the cost of direct labor; Target coverage costs; Fixed and variable costs; Allocation and control of indirect costs; Cash management; Control of cash and investments; Receivables management; Systems of inventory management; Capital planning; Debt management; Activity accounting; Performance measurement; Tax versus external accounting, Financial analysis, Selection of an accounting information system.




3+2+2

1. B. Suklev Management, fifth edition


2008

2.

3.

22.2.


Ordinal number


1. John R. Schermerhorn, Jr.

Management, 9th edition

John Willey & Sons, Inc.

2008

2.

3.

49


3


2




16.3. Consultations




10 scores










42 points from partial exams, prepared paper work and attendance at lectures and tutorials.



Self evaluation

22.

Literature

22.1.


Ordinal

number


1. Markovski Slobodan, Nedev Blazo

Managerial Accounting


2003

2. Horngren, Charles T., Srikant M. Datar, George M. Foster

Cost Accounting Prentice Hall, New York,

2005

22.2.


Ordinal number


1. Anderson, J.M.R & Bragg, S.M.

The controller’s function-the work of the managerial accountant

John Wiley & Sons, Inc., Hoboken, New Jersey

2005

50

Addition number 3


1. Title of the course Investment Management

2. Code 4EK140912




5. Cycle of studies (I, II, IIIcycle) I cycle of studies

6. Academic year / term Fourth /VII Term

7. ECTS credits 8

8. Teacher Ass. Professor Janka Dimitrova

9. Preconditionsof the enrollment of the course

10. Course objectives(Competencies): Scope of the program is to provide theoretical and applicable knowledge in the field of investments and the investment process, preparation of investment studies, especially the economic study, evaluation and selection of investment projects and analyze the risks associated with investing.

11. Contents of the course: Investment as an economic category; structural analysis of investments, investment and economic development; determinants of investment, sources of investment; investment process, analysis of relevant factors for the feasibility of investment projects, financing of investment projects and the cost of capital; projecting the cash flows the project; economic efficiency of investments; period of return and rate of return on investments, net present value and the index of profitability of the project, internal rate of profitability, investment criteria in various cases of investment, risk assessment of the efficiency of investment projects

12. Learning methods:Oral and writing method of presentation



3+2+2


3


2



1


16.3. Consultations



17.2. Seminar work/ project ( presentation:written and oral)

10 scores


18. Evaluation criteria (scores/ under50scores 5 (five) (F)

2. Noreen, E.W., Brewer P.C., Garrison R.H.

Managerial Accounting

Irwin Professio-nal Pub

2005

51

grade) from51to 60scores 6 (six) (E)

from61to70scores 7 (seven) (D)

from71to80scores 8 (eight) (C)

from81to90scores 9 (nine) (B)

from91to100scores 10 (ten) (A)





Self evaluation

Addition number 3


1. Title of the course International financial management

2. Code 4EK140112





6. Academic year / term Fourth / VII 7. ECTS credits 6

8. Teacher Assistant professor Olivera Gjorgieva-Trajkovska Assistant Ilija Gruevski


Fundamentals of economics

22.

Literature

22.1.


Ordinal

number


1. Nestorovski, Metodija

Economics of Investment


2005

2. Nestorovski, Metodija

Investment Management


2003

22.2.


Ordinal number


1. Nikola, Klusev

Investments Matica Makedonska, chosen publications, Skopje

2001

2. Bodi, A.Kejn, A.J.Markus

Investments Tabernakul Translation

52

10. Course objectives(Competencies): The aim of the course is to enable students to understand the different forms of performing international business; introduce them with multinational companies and factors that influence their operating –economic, political and financing; to understand the term exchange rate, exchange rate systems; to introduce to several theories of international business; to interpret various aspects of exposure to exchange rate risk that companies encounter in international business and operations.

11. Contents of the course: Multinational company and multinational financial market; Exchange rates and foreign exchange market; Stock futures and currency options; Measuring of the accounting exposure of exchange rate; Management of accounting exposure to currency risk; Measurement of economic exposure to foreign exchange risk; Management with economic exposure to foreign exchange risk; International finance and international financial markets; The cost of capital for foreign investments; Capital budgeting for multinational company; International portfolio management; Measuring and managing political risk.




2+2+1


2


2




16.3. Consultations




20 scores













Self evaluation

22. Literature

53

Addition number 3


1. Title of the course Econometrics

2. Code 2FI104612




"Goce Delcev" University- Stip


6. Academic year / term Fourth year/ VII term

7. ECTS credits 4

8. Teacher prof. Trajko Miceski


Marketing research

10. Course objectives (Competencies): The students should get the basic knowledge and skills of econometric analysis. They should be able to apply it to the investigation of economic processes, and also understand the econometric methods, approaches, ideas, results and conclusions met in the majority of economic books and articles. In the course the students should study traditional econometric methods. At the same time the students should understand essential differences between the time series and cross sections data and those specific econometric problems met in the work with these types of data. The considered methods and models should be mastered practically on real economic data bases with modern econometric software.

11. Contents of the course: Introduction to Econometrics; Simple Linear Regression Model (SLR); Multiple Linear Regression Model; Non-linear Regression Model; Dummy variables,; Autocorrelation; Heteroscedasticity; Simultaneous systems; Time Series,; Multicollinearity; Introduction to Software package MICROFIT 4.0; Solving tasks with econometric software package

22.1.


Ordinal number


1. SHAPIRO, Alan

Foundations of Multinational Financial Management

Wadswort INC, New York

2008

2. Madura. J.

International financial management

Thomson- South Western

2003

3.

22.2.


Ordinal number


1. Block, S.B., Hirt, G.A.,

Fundamental of Financial Management

Global Comunications - translation

2008

2.

3.

54

MICROFIT 4.0 (Simple Linear Regression Model (SLR); Multiple Linear Regression Model)




2+1+1


2


1




16.3. Consultations




10 scores













Self evaluation

22.

Literature

22.1.


Ordinal

number


1. T. Miceski, D. Josheski K. Cabuleva

Econometric, Workbook


(in press)

2. T. Miceski, D. Josheski K. Cabuleva

Econometrics handbook for MICROFIT 4.0


(in press)

3.

55

Addition number 3


1. Title of the course International finance

2. Code 4ЕК112012





6. Academic year / term Fourth / VII 7. ECTS credits 4

8. Teacher Prof d-r Riste Temjanovski


10. Course objectives(Competencies): The aim is to introduce the issues, problems, and acquire profound knowledge of the specifics in the field of international finance.

11. Contents of the course: Concept, definition of international finance, international finance and international financial markets, international capital market, international money market, foreign exchange market and exchange rates, balance of payments, International Monetary System, Goals and Objectives of the International Monetary Fund-IMF, International Liquidity and indebtedness, international payment system, Types of foreign exchange, international financial institutions




2+1+1


2


1




16.3. Consultations

22.2.


Ordinal number


1. V. Bucevska Using EViews for Principles of Econometrics


2009

2. Z. Mladenovic, A.Nojkovis

Econometric, Workbook

Faculty of Economics, Belgrade

2009

3.

56




10 scores













Self evaluation

Attachment No.3

Course Syllabus for first cycle studies

1. Title of the subject Credit Policy

2. Code 4EK141112

3. Study program Financial management

4. Organizer of the Curs (unit or institute, department, division)


5. Degree (first, second, third cycle) First

6. Academic year / semester Fourth / eighth 7. Number of ECTS credits

6

8. Teacher Assistant Professor PhD Violeta Madzova

9. Preconditions for subject enrolling /

10. Objectives of the curriculum (competencies): The purpose of this course is to familiarize students with basic concepts in the area of credit

22.

Literature

22.1.


Ordinal number


1. Fotov R. International finance EURM 2010

2. Krugman, Paul, Maurice, Obstfeld

International Economics

Addison - Wesley, Boston

2003

22.2.


Ordinal number


1. Madura. J. International financial management

Thomson- South Western

2003

2. Hill, Charles International business Magor 2010

57

policy, certain types of loans, the cost of credit, understanding the consequences that changes in different variables (interest rate) have the economic movements, credit risk, assessing credit ability.

11. Contents of the curriculum: The importance of credit in the economy; credit potential of banks; market bank loans, types of loans, procedure for approval and monitoring of loans, credit risk policies and credit risk management, credit information system, determination of cost of credit; Instruments for Provision of loans.



14. Time distribution 2+2+1



2



16.3. Consultations



17.2. Seminar paper / project (presentation: written and oral)

10 points













Self-evaluation

22.

Literature:

22.1.



1. Assistant Professor PhD Violeta Madzova

Credit Policy (script) UGD-Stip 2012

2.

3.

22.2.



1. Prof. Ph.D. Goran Petreski

Management of banks 2008

58

Attachment No.3

Subject program for first cycle studies

1. Title of the subject Securities and portfolio management

2. Code 4EK140512


4. Organizer of the study program (unit or institute, department, division)


5. Degree (first, second, third cycle)

First

6. Academic year / semester Fourth/Eight 7. Number of ECTS credits

6

8. Teacher Assistant Professor PhD Krste Sajnoski

9. Prerequisites for subject enrolling

/

10. Objectives of the curriculum (competencies): The course should help students to understand the process of investing in securities. It includes the analysis of yields and risks of different types of securities, and the use of such analysis in the professional management of portfolios of securities, ie for the purposes of the portfolio management. In this case, investment in securities is put into market context, ie in the context of stock markets for long-term securities, as well as institutional context, in the context of the institutional investors’ influence on securities, primarily investment funds.

11. Contents of the curriculum: Securities: concept and types, issuance and registration, trading of securities, (stock) market participants, authorized securities, prohibited actions dealing with securities; Securities and Exchange Commission (status, organization, responsibilities); Macedonian Stock Exchange: determining the value of securities; Models of determining yield and risk of individual securities; Characteristics of portfolio management: portfolio optimization; International diversification: capital market efficiency; portfolio strategies and global concepts of portfolio management.






2



16.3. Consultations



17.2. Seminar paper / project (presentation: written and 10 pints

2. Assistant Professor PhD Violeta Madzova

Managing credit risk in the macedonian banking

NAMPRESS 2010

3.

59

oral)













Self-evaluation

Addition number 3


22.

Literature:

22.1.



1. Д-р Мирослав Шукаров, д-р. Зоран Ивановски

Хартии од вредности портфолио менаџмент

Three 2005

2. Prof. Burton G. Malkiel, PhD

Random walk on Wall Street

W.W.Norton&Company

1999

3. Law for securities

22.2.



1. Jordan,R.,Warren,W.,Walt, S

Negotiable Instruments, Payments and Credits

Foundation Press

2000

2. Popovic, Sasa Portfolio analiza – kvantitativni aspekti investiranja u hartije od vrijednosti

Podgorica 2000

3. Brentani, Christine Portfolio Management in Practice

2004

60

1. Title of the course Strategic Management

2. Code 4ЕК135412





6. Academic year / term Fourth year/ VIII term

7. ECTS credits 4

8. Teacher Prof. Trajko Miceski


10. Course objectives(Competencies): The subject is conceptualized to enable students evaluation and application of key elements of strategic analysis, choosing the right strategy within a flexible plan, and to stimulate thinking about the problems associated with implementation of formulated strategy.

11. Contents of the course: The nature of strategic management, managers and strategic management; Assess the external environment, internal environment assessment, strategy formulation, analysis and choice of strategy, execution of strategy, assessment and control strategy, technology and strategy, Strategic management and small business; International strategic management




2+1+1


2


1



1


16.3. Consultations




10 scores












61


Self evaluation

Addition number 3


1. Title of the course Customs Policy

2. Code 4EK111412




5. Cycle of studies (I, II, IIIcycle) I cycle of studies

6. Academic year / term Fourth / VIII Term

7. ECTS credits 4

8. Teacher Ass. Professor Janka Dimitrova

9. Preconditionsof the enrollment of the course

Fundamentals of Economy

10. Course objectives(Competencies): The study of Customs policy and customs system RM The subject has the character of applied discipline, which has a high degree of application

11. Contents of the course: Tariffs as a form of public revenue, customs as an instrument of regulation of international trade, role of tariffs within the protective policy, the effects of tariffs under the protective policy, Institutes of the customs system, customs procedures for import, customs regimes, customs content tariff., structure and character of the customs tariff,

22.

Literature

22.1.


Ordinal

number


1. B. Suklec; Lj. Drakulevski

Strategic Management


2001

2.

3.

22.2.


Ordinal number


1. W. Hill, Charles; R. Jones, Gereth

Strategic Management, An Integrated Approach

Houghton Mifflin Company, Boston

2004

2. M. Grant, Robert Conteporary Strategic Analysis

Blackwell Publishing, Malden, MA

2005

3.

62

customs policy effects on the economy, instruments of customs policy and customs system

12. Learning methods:Oral and writing method of presentation



2+1+1


2


1




16.3. Consultations



17.2. Seminar work/ project ( presentation:written and oral)

20 scores



under50scores 5 (five) (F)

from51to 60scores 6 (six) (E)

from61to70scores 7 (seven) (D)

from71to80scores 8 (eight) (C)

from81to90scores 9 (nine) (B)

from91to100scores 10 (ten) (A)





Self evaluation

22.

Literature

22.1.


Ordinal

number


1. Zivko Atanasovski Jovanka Biljanoska

Customs System and Customs Policy

Ohrid 2006

2. Veljakovic, D Externally - trade and exchange system

Ohrid 2000

3.

22.2.


Ordinal number


63

1. Pelevic, M International economy relations

Beograd 2000

2. Zivko Atanasovski Public finances Faculty of Economics, Skopje

2004

3.

Documents

Total ECTS for I semester - UGDarhiva.ugd.edu.mk/pdf/sprogrami_en/ekonomski_en... · inflation, unemployment, savings, investments, ... 12. Learning methods: Oral and writing method