MACROECONOMICS (3 ECTS) – spring semester
Macroeconomics deals with the economy as a whole. It ignores individual units and many of the problems which they face. By concentrating on the economy in the aggregate, macroeconomics is concerned with the total output of the economy and the general price level, and not the output and price levels of a single firm or industry. The course of Macroeconomics covers both theory and practice so the students understand how to produce information that is useful in day-to-day decision making.
To provide comprehensive coverage of the principles and practice of Macroeconomics;
To explain why problems (full employment, price stability, economic growth and external balance) arise in the economy and how these problems can be dealt with.
1. National Income Accounting
2. Aggregate Demand and Aggregate Supply
3. The Business Cycle
6. Government Budget and National Debt
7. Fiscal Policy
8. Banking System and Money
9. Monetary Policy
10. Net Exports
MANAGEMENT ACCOUNTING (3 ECTS) – spring semester
Management Accounting produces information for managers within an organization. It is a process of identifying, measuring, analyzing, preparing, interpreting and communicating information that helps managers fulfil organizational objectives. Thus it is an essential tool that enhances a manager’s ability to make effective economic decisions. The course of Management Accounting covers both theory and practice, so the students understand how to produce information that is useful in day-to-day decision making.
To choose relevant subject matter and present it clearly and accessibly using examples drawn from actual business life in order to help the students understand Management Accounting concepts in a real-company context.
1. Managerial accounting, business organization, and professional ethics
2. Introduction to costs behaviour and costs-volume relationships
3. Measurement of cost behaviour
4. Introduction to budgets and preparing the master budget
5. Flexible budgets and variance analysis
6. Cost allocation
7. Accounting for overhead costs
8. Job-costing and process-costing systems
QUALITY MANAGEMENT (6 ECTS) – spring semester
Quality Management is organized into two parts: Quality Management philosophy and concepts; and tools and techniques. Quality is an ability to satisfy or even exceed the needs and expectations of the customers. Quality Management is a management approach to a long-term success through customer satisfaction. The participation of all members of an organization in improving the processes, products, services, and the culture they work in is the basis of Quality Management.
To provide comprehensive coverage of the principles and practice of Quality Management;
To choose relevant subject matter and to present it clearly and accessibly, using examples drawn from actual business life in order to help the students understand Quality Management concepts in a real-company context.
1. Quality Definition
2. History of Quality Management
3. Quality Improvement Methodology
4. Customer Satisfaction
5. ISO 9000
MANAGEMENT (6 ECTS) – spring semester
Management is one of the most rapidly changing human sciences. How organizations are managed has a major impact on their efficiency, whatever their mission is. Whether they are businesses providing adequate products to the marketplace while earning a profit for their owners or social welfare agencies committed to maintaining the well-being of some people, the achievements and failures of organizations affect the lives of everyone.
To provide comprehensive coverage of the principles and practice of Management.
To choose relevant subject matter and to present it clearly and accessibly, using management material and tasks to help students understand Management concepts in a real-company context.
1. Management and Organizations
2. The Evolution of Management
3. Planning Process
4. Organizing Process
7. Organization Culture
8. Decision Making
INTERNATIONAL LOGISTICS (3 ECTS) – spring semester
The subject provides the concept of international logistics, its main goals and objectives as well as its role in company‘s international business activities. The following topics are included and analyzed: possible mission of the participants of the international logistics channel, types of logistical collaboration, scope of services of logistics companies according to „PL“ classification, problems of logistical customer service and ways of their elimination, warehousing structures in the European domestic market, development tendencies of logistics centres, their application and latest information technologies optimizing the movement of the flow of goods, selection criteria of transport services, advantages and disadvantages of different types of transport, pricing methods of transport services, legal system for management of transportation of different kinds of cargo
Be able to plan and organize the company’s material flow in the international market analyzing the expediency of the selection of the type of logistics services and suppliers, problems of logistic services and the influence of logistics processes on company activities.
1. Concept of International logistics, its role and importance in company activities.
2. Logistical collaboration and planning of logistical customer service.
3. Inventory management.
4. Importance of warehouses in the system of logistics and warehousing solutions.
5. Objectives, importance and features of international transport services.
INTERNATIONAL ECONOMICS (3 ECTS) – spring semester
The course of International Economics embraces the conception and development rates of international economics, peculiarities of different countries economics; it evaluates peculiarities of payment balance, introduces the international currency system, different modes of currency exchange rate (analyses their advantages and disadvantages); a considerable attention is paid to the international movement of production factors, distinguishing peculiarities of work force and capital movement. The course also analyses the importance of foreign investment to national economics and activities of an entity; it discusses international economic agreements, and activities of international economic and financial organizations.
To provide students with knowledge and practical skills thus enabling them to understand the principle of functioning of international economics as a coherent system and its importance to entities; principles of currency functioning, international movement of production factors and international sources of funding for successful activities of an entity in international markets.
1. Conception if international economics.
2. Payment balance.
3. International currency relations.
4. International work force movement.
5. International capital movement.
6. International economic agreements and organizations.
ANALYSIS OF COMPANY ACTIVITIES (6 ECTS) – spring semester
The subject provides the concept of analysis of company activities with the emphasis on its importance and necessity for achieving company goals. The course includes the overview of the sources of analysis of company activities and their selection criteria, techniques and methods of analysis of company activities. Based on the methods of analysis of company activities, it also develops the abilities and skills to assess business environment, conditions and possibilities of company activities, determine the company‘s operational efficiency, financial results and the financial situation, conduct the analysis of bankruptcy possibility and business prospects, find and provide the means for increasing operational efficiency and improving performance.
To develop abilities and skills to conduct the analysis of company activities and provide targeted information to users as well as assure sufficient level of knowledge and acquisition of cognitive and practical skills.
1. Theoretical basics of analysis of company activities.
2. Sources and techniques of analysis of company activities. Types of analysis of company activities.
3. Company performance analysis.
4. Analysis of company‘s operational efficiency.
5. Company solvency analysis.
6. Cash flow analysis.
7. Environmental factors of company activities and their analysis.
8. Analysis of labour indicators.
9. Prediction of company activities. Results of the analysis of company activities, generalization, conclusions and proposals.
10. Independent work.
CORPORATE FINANCE (6 ECTS) – spring semester
The subject of Corporate Finance provides the concept, development and theoretical basics of finance. The following topics are reviewed and analyzed: environment of company‘s finance management – financial markets and institutions; the role of accounting, financial accountability and analysis in company‘s finance management; basic elements of financial management with the emphasis on the relationship between the time value of money, risk and profitability; the essence, principles, trends and methods management of the financial performance/result, capital, crediting, current and fixed assets, investment and their constituent parts correspondingly.
Provide theoretical knowledge and practical skills necessary for making company‘s strategic, tactical and operative financial decisions based on analytical assessment as well as plan, implement and control company‘s financial activities.
1. Essence, goal and principles of finance management.
2. Finance management environment: financial markets and institutions.
3. Accounting, financial accountability and analysis in corporate finance management.
4.Elements of finance management: risk and the time value of money.
5. Financial performance management.
6. Capital structure, securities and dividends.
8. Current assets management.
9. Fixed assets management.
10. Investment management.