Tarptautinis verslas ir komunikacija

Annotation

This course serves as an introduction to communication studies. It will cover the main theoretical concepts of communication as well as provide the conditions for skills training. It will as well introduce students to the further communication-related courses to be delivered in later years of studies (as foreseen in the Bachelors study programme International Business and Communication) such as international, intercultural business communication and strategic organizational communication. Communication is still a multifaceted process with unveiled ever-changing factors. Be it interpersonal, mass or global, whether it takes place between two people, in small groups, organizations or states, theories and models will prove an insufficient tool for the 21st century decision makers, who will definitely need a wholesome kit of well-chosen sets of knowledge and practical skills to face the challenge of a globalized world.

Course aim

To acquaint students with human communication fundamentals through the analysis of the interconnection between language, thought and the world itself; to help students grow in awareness of each man‘s role as a social being, an essential communicator in a globally connected world; to raise awareness of the impact that verbal and non-verbal communication may have on communication quality and effectiveness.

Learning outcomes

• The student is able to explain and apply the key terms, definitions and concepts relating communication.
• The student can analyse the impact of verbal and non-verbal communication on communication quality and effectiveness.
• The student can assess the role of the human factor over technological progress and mass communication devices.
• The student can compare and contrast the major interpersonal, intercultural, organizational and global communication concepts and apply them in the assessment of practical everyday life situations.
• The student can evaluate the impact that culture and communication has on international business and multicultural organizations.
• The student can recognize and the underlying  communication phenomena in real and fictional situations.
• The student can participate in teamwork and display teamwork results in written or oral form, to be able to argue decisions.
• The student can argue decisions, can question and respond to criticism and different opinions in debates and discussions

Effective management of global supply chain is one of the most important competitive advantage in every organisation. In this course, students will get a knowledge about possibilities to enhance relationship between supplier and customers. by getting lowest cost as possible.

The course aims to introduce students to the main concepts of law, ethics, corporate social responsibility and sustainable development. The course will not follow any ideology, but will discuss various approaches. Moreover, a focus will be put on the stakeholder theory – the role of employees, consumers and society in a globalized World.

The operations, contracts, finances, and marketing practices businesses depends on all need to be well thought out as well as fully compliant with business law regulations. These regulations are varied and complex, and different laws may apply to businesses depending on its structure.

Course Description

Those who complete a basic course in logical argumentation will have the skills needed to construct convincing arguments and to judge and evaluate the arguments of others. These are critical skills which enable clear, meaningful, and effective communication. Logic encourages clarity and rationality of thought, which is a valuable tool not only for academic accomplishment, but also for real world applications. In addition to covering how to make logical arguments, this course will cover how to recognize widespread logical fallacies. The difference between inductive and deductive logic will be addressed, which are essential for understanding academic research.

Aims and Objectives

• Communicate effectively, which may include various academic, professional, or civic situations;
• Construct valid/strong arguments;
• Provide a solid basis for the Bachelor thesis writing process.

Learning Outcomes

Students will be able to:

• Identify basic principles of rhetoric and develop an understanding of written texts as arguments generated for particular purposes, audiences, and rhetorical contexts;
• Construct and analyse deductive and inductive type arguments;
• Identify and avoid the use of logical fallacies;
• Effectively refute arguments;
• Develop original arguments for a range of academic purposes.

Course Description

Academic works such as paper, term paper, report, thesis and final thesis, annotation, abstract, review as well as their presentation belong to the area of scientific works; therefore, they have to meet general requirements of structure and content. Academic works have to be in high quality of scientific style. This course presents the structure of academic works, and analyzes scientific texts (composing sentences, paragraphs, and the whole text, referring and quotation, etc.). First part of this course is about theoretical requirements of academic writing and the second is about practical training in writing. During the lectures, students also learn how to finalize their academic work under the requirements of ISM University of Management and Economics.

Course Aim

This is a basics course in academic work writing skills for students in the bachelor’s degree programme of studies in economics, management and business administration. Objectives of the course are: 

• Communicate effectively in specific writing situations, which may include various academic, professional, or civic situations;
• Understand and respond appropriately to the critical elements that shape communication situations, such as audience, purpose, and genre;
• Critique their own writing and provide effective and useful feedback to enable other students to improve their writing;
• Demonstrate critical and evaluative thinking skills in locating, analyzing, synthesizing, and using information in writing activities.

Learning outcomes

• Knowledge and its application. Students will identify basic principles of rhetoric and develop an understanding of written texts as arguments generated for particular purposes, audiences, and rhetorical contexts.
• Research skills. Students will be able to employ analytical reading to summarize, paraphrase, draw evidence from, synthesize, and respond to the scholarship of others.
• Special abilities. Students will learn to find and evaluate print and electronic source materials appropriate for academic research projects. Students will be able to develop original arguments for a range of academic purposes and demonstrate critical thinking skills and using information in writing activities.
• Social abilities.  Students will be able to critically evaluate their own and others’ work and collaborate effectively with other writers throughout the writing process.
• Personal abilities.  Students will be able to organise their learning process and work autonomously on writing projects. They should also demonstrate understanding of academic responsibility and integrity.

Course annotation

It is a practical course which is designated for practical application of knowledge and skills that were acquired during the studies. The major focus in the course is on practical managerial and business aspects that are usually not evident to students because of the lack of practical experience in business.

During the internship students work in selected company. There are two ways of finding a company for an internship:

1. Place of internship is found by a student.
2. ISM Career centre supports in finding an internship place.

While working in a company student gets knowledge on the factors that affect international activity of a company. Therefore they collect general information on a company and implement strategic analysis for the entire company or selected product/brand/branch in the foreign market. Students submit internship report to Study department on appointed time and present (defend) it in class on appointed time.

Overall volume of internship is 15 credits (405 academic hours). Out of them:

1. 360 hours are internship in company;
2. 10 academic hours as in-class consultations and feedback on reports;
3. 35 hours are student‘s self-study.

Goals of the internship

1. To increase students‘ understanding about international business practice.
2. To consolidate specialization knowledge that was acquired during the studies.
3. To provide practical skills that are necessary in analysing company’s situation.

Learning outcomes

• To implement analysis of internal and external company factors.
• To collect data on a company which operates in local or foreign market for the analysis.
• To be pursue PESTEL analysis, SWOT and TOWS analysis, consumer needs, market size, positioning analysis for the company (product, brand, branch).
• To identify strategic position and suggest strategic guidelines for the company (product, brand, branch).
• To present findings in written form, reasoning proposed decisions.
• To assess a written report on a company.

Course annotation

This course provides an introduction to analysis of economic behavior. The ability to predict market outcomes is indispensable not only for a sound business strategy but also for a meaningful public policy. The main focus of the course is on optimal decision making, understanding determinants of demand and supply, market equilibrium, strategic behavior, and welfare analysis. Introduction to choice under uncertainty and the general equilibrium analysis is also covered.

Aims of the course

The course should teach an analytical approach to the functioning of the market mechanism, economic behavior of market participants, market environment impact on competition, and business strategies. Students should acquire the skills and the ability to apply microeconomic analysis and optimization methods to a large variety of economic problems.

Learning outcomes

• Understand the main theories in microeconomics.
• Analyze and model microeconomic phenomena.
• Evaluate governmental policy as it relates to microeconomics.
• Graphically model microeconomic situations.
• Relate real economic experiences to theory.
• Identify economic situations at the firm and personal level.
• Develop researching skills.

Annotation

This course is the basic macroeconomics course. During it main topics of macroeconomics will be covered. In lectures and seminars students will learn about economic indicators, goods, financial and labour markets, aggregate demand and supply, economic growth, open economy and exchange rate mechanisms, financial and monetary policy. Students in the course not only will learn Macroeconomic concepts and analyze theoretical Macroeconomic models but also will try to solve practical macroeconomics problems in Lithuania and EU.

Aim of the course

This is a course in intermediate macroeconomics, designated for students with knowledge in basic economics. Its objective is to present theoretical knowledge and practical skills required for studying the overall economic structure of a country. Students will know how to analyze the most important macroeconomic phenomena, and the impact of governmental macroeconomic policies on participants in the economy. This course trains skills in comprehension and analysis of macroeconomics policies.

Learning outcomes

• Understand the main theories in macroeconomics.
• Analyze and model macroeconomic phenomena.
• Evaluate governmental fiscal and monetary policy.
• Graphically model macroeconomic situations.
• Relate real economic experiences to theory.
• Identify economic situations at the national and global level.
• Develop researching skills.

The Final Bachelor Thesis (FBT) is an independently prepared thesis, which summarizes the knowledge, abilities, and skills acquired in the course of studies and serve as a substantiation of the international business qualification awarded.

Students have to write the FBT about the same company in which the Internship was taken before. This shall ensure the practical approach of the FBT. Any exception has to be confirmed by the Program Director (PD) and is only granted in the following cases:

• A student does the internship in a consulting company (advertising agency, audit company, market research company, etc.), and analyzes the activity of company’s clients or solves a problem on request of clients. The situation should be clearly described in the FBT, reasons why the internship place and company under analysis do not match have to be explained.
• A student is not able to conduct an empirical research on the company which has been the place of the internship (due to bankruptcy of the company, inability to pursue the relationship with the company or the Academic Thesis Supervisor (ATS) rejects the company as a possible stakeholder for the thesis). In this case an internship which will be done/ was done in another company can act as the case for the FBT. A certificate that the company is aware and agrees that the FBT is written on its data has to be provided.

Due to the International scope of the study program, an international aspect has to be an essential element of the FBT. Generally speaking – internationalization is defined as business that covers aspects of more than one (national) market. The nationality of the student, the country of origin of the company or the country where the company is legally registered is hereby irrelevant. In case the topic fails to fulfil any of the requirements – permission from the PD has to be obtained. Examples of “international aspects” are:

Foreign market entrance; Assessments of new geographical market; Introduction of a product in a new market; Internal and external communication aspects, which involve two or more international markets/ business units; Comparative brand attitudes among markets; Global or regional brand portfolio management; Adaptation of global strategy to a specific national market, International human resource management.

A relevant problem of a company/institution should be analyzed in the FBT. Aim of the work is to provide solutions to this relevant problem. The FBT is prepared during the seventh semester of studies and grants 15 ECTS credits.

Learning outcomes

• To be able to define the research problem and the main goals of a Thesis in a concise way  Be able to integrate the theoretical knowledge obtained ​in the bachelor studies.
• Be able to apply the knowledge to identify a business relevant problem. To be able to perform a review of academic literature, relevant to the problem-area and the main goals of a thesis.
• To be able to prepare and conduct (on an individual basis) an empirical research in order to suggest managerial solutions. Be able to present a testable hypothesis, consistent with assumptions derived from literature review.
• Be able to collect quantitative and/ or qualitative data and perform appropriate empirical analysis to solve the research problem.
• Be able to formulate, select, analyze and generalize the information relevant for managerial solutions.  Be able to demonstrate proficiency in academic writing, proper literature citation and compilation of a reference list.
• Demonstrate ability to present findings of the thesis to an academic community of peers and defend the thesis in front of a faculty panel.

Course description

This is an introductory course of statistical data analysis, designed for the students of the Economics and Politics program. The material covered in the course includes methods of data collection, analysis, presentation of results as well as the use of statistical data analysis software, SPSS^®. The course encompasses methods of descriptive statistics, statistical estimates, data comparison hypothesis testing, correlation as well as regression analysis. During the laboratory sessions students will learn to use the statistical data analysis software, SPSS^®, types of data, user tools, as well as procedures for data analysis and presentation. Statistical methods and SPSS^® software will be applied to the analysis of concrete economic and political data.

Course aim

The goal of the course is to provide students with the theoretical knowledge and practical skills necessary for the analysis of economic and political data.  At the end of the course the students should be able to identify and apply the key methods of data analysis, carry out the analysis using specialized software, and to interpret the results.

Learning outcomes

• To understand the basic terminology used in statistics.
• To understand the basic principles of descriptive statistics.
• To understand the basic concepts of probability.
• To understand the basic principles of inferential statistics.
• To be able to utilize the correct statistical test based on sample, and hypothesis.
• To understand the difference between parametric and nonparametric tests.
• To be able to apply basic descriptive statistics to an available data base.
• To be able to apply the appropriate basic inferential statistics to the decision making process.
• To be able to make generalizations about a population based on a sample from that population.
• To be able to apply statistical techniques to evaluate basic business hypothesis.

Course description

This course presents the underlying framework and concepts of financial accounting in the context of how accounting fits into the overall business environment of contemporary society. Financial accounting is the basic means of recording and reporting financial information in a business. Students will learn how accounting functions as an information development and communication system that supports economic decision making and provides value to entities and society. Students will discover the uses and limitations of financial statements. The course covers accounting principles in accordance with international standards for accounting, standard accounting procedures, and accounting methods that are specific to certain features of business.

Course objectives  

The aim of this course is to provide knowledge and practical skills required to understand and analyze the financial information of a company. The course adopts a decision-maker perspective of accounting by emphasizing the relation between accounting data and the underlying economic events that generated them. The course focuses initially on how to record economic events in the accounting records and how to prepare and interpret the primary financial statements that summarize a firm’s economic transactions.

Learning outcomes

• To identify the essential accounting features, goals and be able to implement them. To be able to read, understand and examine the data in the annual report, to explain the key components in the financial statements.
• To understand accounting process and its organization procedures, to explain the difference between cash-based and accrual accounting.
• To be able to account income, expenses, long-term and short term assets, equity, and liabilities. To apply financial statements correction factors. To be able to distinguish after-balance events and to show them in the financial statements. To record business transactions using financial accounting practices.
• To be able to select accounting policy distinguishing all three aspects: organizational, technical and methodological. To prepare financial statements from the source data based on accounting transactions.
• To prepare financial statements and acquire knowledge and practical skills in keeping accounting in the companies.

Aims of the course

To provide students the fundamental knowledge of current marketing theory and to put backgrounds for market oriented thinking, both strategically as well as tactically. It also aims to train skills in analysing business situations, written and oral presentations. the course is that students will be able to analyze various business situations.

Learning outcomes

• To name major marketing concepts, analyse marketing evolution and its current role in business.
• To analyze and research micro and macro environments, by determining the major marketing threats and opportunities for acting of new business establishment or product.
• To identify market opportunities and propose products or services that meet consumer expectations to the market.
• To name the major segmentation criteria, to identify market segment on the basis of custom segmentation principles, to select target market and the most appropriate market coverage method.
• To adapt marketing mix elements for target market having regard to micro and macro environment, product life cycle and company’s resources.
• To draw basic annual marketing budgets.
• To work in a team, to present work results in written or oral form, to argue decisions.

Annotation

The course covers topics on limit, differential, and integral calculus as the basis for modelling of various phenomena in economics, management, and engineering.

Aims of the course

This course aims to develop skills for mathematical modeling of basic economical, managerial, and engineering problems.

Learning outcomes

• Ability to operate the main concepts, laws, and techniques of differential and integral calculus.
• Ability to apply these concepts, laws and techniques in economical and managerial analysis and engineering.

Summary

This is a practical course dealing with the mathematical models supporting decision making in various fields of social sciences and practical environment, i.e. management, economics, and politics. In particular, what-if analysis, forecasting, optimization, multi-criteria decision making and data analysis are dealt in the course. Computer spreadsheets are used all over the course.

Objectives

• To develop structural and algorithmic mindset in dealing with operational issues.
• To develop necessary skills for problem formulation, setting goals and parameters of the problem, choosing relevant model, translating it into the spreadsheet, and justifying alternative solutions of the problem.
• To develop skills of data analysis.
• To develop skills of using computer spreadsheets.

Learning outcomes

• To be able to develop a mathematical model for relevant  problems in economics, finance, business and politics.
• To be able to select relevant methods for the analysis of mathematical models, to draw quantitatively justified conclusions and to choose the best alternative.
• To be able to analyze the mathematical model by means of the computer spreadsheet.
• To be able to analyze big arrays of data by means of the computer spreadsheet.

Annotation

The ability to formulate the right questions and choose the most efficient tools for seeking answers, as well as to intelligently interpret the information gathered and presented by others, is indispensable for those who want to succeed in today’s highly complex business environment. This course will equip students with both the understanding of principles that guide quality research and the tools needed to implement those principles in formulating a research project, selecting appropriate methods, collecting and analyzing data, and presenting their findings. We will focus on the practical application of the concepts and methods discussed in the course by conducting students’ own research projects and critically analyzing the research of others.

Course Aims

The main goal of this course is to impart knowledge and skills necessary for conducting and evaluating business research. The course will begin with the introduction to the fundamental principles that underlie approaches to research and the practical implications of these principles, including formulation of research questions, concepts of validity and reliability, and issues of research ethics. We will then proceed to unpack the main qualitative and quantitative methods used in business research. Conducting their own research projects will help develop students’ practical research skills, and analysis of published research and other students’ research projects will sharpen their ability to critically evaluate the information coming from research conducted by others. Presentation of their own research findings and discussion of others’ research will also serve to refine the students’ presentation and communication skills. Students who have successfully completed the course and all its assignments will be able to define the research question, formulate the research design, choose the appropriate methods for data collection and analysis, present and apply their findings, and critically evaluate other researchers’ output. Finally, the skills and knowledge gained in this course will also be employable during the preparation of BA theses.

Learning outcomes

• To understand the purpose of research.
• To identify and understand potential ethical, empirical and analytical problems plaguing the research process and ways to overcome them.
• To identify a business problem/ need, translate it into a research question, and design an appropriate way to answer it.
• To formulate testable hypotheses and choose the most appropriate tools for testing them.
• To identify and understand the main qualitative and quantitative methods of business research, their advantages and disadvantages and appropriate application areas.
• To understand and be able to design an experiment as a research method.
• To develop skills in choosing suitable case studies, sampling, measurement, questionnaire design, conducting interviews and surveys, leading focus groups.
• To develop skills of quantitative data analysis and interpretation of its results.
• To communicate research findings and their implications in a clear and well organized way, both orally and in writing.
• To critically evaluate the quality of other people’s research findings and the process used to obtain them.

Course aim

The course aims to introduce students to the main concepts of international business. In the new millennium, the drive of most businesses is to „go global.“  The trade and investment barriers have been easing and we are witnessing the emerging of more companies into international markets. However, with such expansion, there are opportunities as well as challenges that students of international studies need to understand.  In this course, students will familiarize themselves with various controllable and uncontrollable business environments and will develop an understanding of managing international businesses in such environments. Furthermore, students through various cultural dimensions will be able to understand the multicultural aspects of international businesses as well as the ethical responsibilities of international firms.

Learning outcomes

• Identify dynamics and direction of international trade and foreign direct investment
• Compare and contrast various trade theories that explain the benefit and challenges of international trade and foreign direct investment
• Examine the role of International organizations and institutions that affect international business operations
• Explain multicultural aspects of international business and the cultural dimensions that indicate the cultural behavior of international business organizations
• Identify objectives of international business assignments and explain the role of expatriates in today’s global business environment
• Examine the ethical and social responsibilities of multinational firms in foreign business operations

Aims of the course

Negotiation practice itself is undergoing much change. This involves changing patterns of doing business. It requires application of effective bargaining, conflict management and negotiation intervention.In present times, international negotiation requires abilities to appropriately deal with, many new urgent issues on the global agenda and different actors and new emerging norms. As result being innovative while generating ideas for making better agreement is a skill which every individual need to possess

Learning outcomes

• Equipped with practical skills needed to be successful in the international negotiation and diplomacy arena;
• Able to communicate, cooperate, compete, and engage in negotiation with people from their own and other cultures;
• Assess and analyse ethical dilemmas at negotiation;
• Able to develop relationships and value diversity of cultures, especially in the context of problem; solving and negotiations and at a range of levels, from  the interpersonal to business to international diplomacy;
• Able to evaluate the potential outcomes of problem solving or negotiation with members of their own culture or another culture;
• Able to better solve conflicts, negotiate and bargain in the way so that individuals and groups from diverse backgrounds can work effectively together in multicultural environment;
• Establish and maintain contacts that will lead to creating relationships, and reach agreements.

Course description

This course provides a balanced analysis of international communication strategy and execution applicable to modern business organizations. The first half of the course focuses on key concepts of strategic organizational communication, branding, cross cultural business communication and global communication issues affecting business organizations. The second half focuses on international and intercultural skills and strategies regarding change- and crisis communication, the challenges the global leaders will face in the 21st century global marketplace and the urgent need for competent global communicators.

Course Aim

The course is intended to provide core knowledge of strategic organizational communication and cross cultural business communication and develop necessary skills for planning and managing the communication process in a a company that must operate in a global market. Also the course provides some negotiation theory and practice. After the graduating from the course students are expected to have theoretical and practical knowledge of strategic organizational communication, and cross cultural business communication, and intercultural negotiation. Several different teaching approaches are utilized to provide students with multiple ways to learn the material. These are classroom lectures, case discussions, analysis and evaluation of real world communication cases, analysis and research of real companies and the impact of communication management on company performance.

Learning outcomes

• To name and apply major strategic organizational communication and cross cultural business communication concepts.
• To be able to analyze and research main issues of international organizational communication.
• To be able to analyze international communication management aspects in organizations as an essential instrument of successful company performance.
• To be able analyze external and internal communication processes and the need for global communication competence and management.
• To name main concepts of intercultural negotiations strategies and styles and national profiles.
• To be able to analyze needs an aspects of a company’s communication strategy, and provide recommendations for professional communication management.
• To be able to work in a team, to present work results in written or oral form, to be able to argument decisions.

Course Description

This course aims to provide students with a strategic perspective of the role of marketing in international context. It explores how daily lives of global consumers are shaped by products from all over the world. Subsequently, the course discusses how international brands should consider the diversity of their consumers into consideration, when designing their products and services, in order to enhance their international competitiveness. Special emphasis is put on the application of emerging marketing paradigms – including experiential and transformational marketing – at international scales.

Learning outcomes

• Understand global forces and major trends that shape international markets
• Understand how marketing and branding decisions should reflect world market characteristics
• Identify and classify potential opportunities to serve international markets
• Develop effective marketing plans to systematically guide the internationalization endeavors of firms
• Apply emerging paradigms (i.e. experiential and transformational marketing) to the context of international branding

Course Description

Organizational Behavior is the multidisciplinary field that seeks knowledge of behavior in organizational settings by systematically studying individual, group, and organizational processes. Organizational Behavior has four essential characteristics: (1) the use of the scientific method that informs research; (2) a focus on three levels of analysis; (3) a multidisciplinary perspective that borrows from psychology, sociology, and quality management; and (4) an orientation toward improving organizational effectiveness and the quality of life at work. The dynamic nature of organizations and significant environmental forces have given rise to rapidly developing topics that promise to ensure that OB will continue to be an interesting field of study.

Course Objectives

The module aims to introduce students to the major organizational concepts and be ready to systematically evaluate and solve problems related to organizational behavior.

Learning outcomes

• Knowledge and its application. Demonstrate and apply critical understanding of the contemporary OB knowledge.
• Research skills. Gain skills how to synthesize theoretical knowledge of OB and undertake a sustained piece of empirical research.
• Special abilities. Be able to analyze the organizational capability to perform successfully and provide recommendations for management opportunities.
• Social abilities. Adhere to the principles of professional ethics and citizenship participating in discussions on relevant academic issues. Be able to lead the team and be accountable for its performance.
• Personal abilities. Develop personal and professional abilities, critical thinking, and creativity.

Course description

This course provides a balanced analysis of e-commerce theory and business strategies. The first half of the course focuses on e-commerce models and their applicability in practice. Second half of the course aims to investigate how businesses are using e-commerce tools to achieve success. Mainly HBR articles and case studies will be used as reading materials. Students will be encouraged to apply newly developed skills to develop individual or team projects.

Course aim

The course is intended to provide knowledge for students to discuss critical issues that determine the success of e-commerce projects. Students will be able to identify different e-commerce models and apply them in practice. E-marketing and its effect on customers will be also touched during this class. Therefore by the end of the course students will be able to come up with ideas and initiatives to better plan, develop, manage and operate effective and efficient e-businesses.

Learning outcomes

• Provide students with basic understanding of e-commerce concepts, its evolution.
• Enhance students abilities to analyze and research e-commerce cases, to identify major demand-side threats and opportunities for acting of new business establishment or product.
• Enable students to identify e-commerce opportunities.
• Enable students to start own e-commerce projects.
• Expand students understanding about the role of social marketing.
• To be able to work in a team, to present work results in written or oral form, to be able to argue decision.

Annotation

This is an introductory course in finance. Course objective is to provide students with the basic knowledge in finance and to form the background for the further related studies. Course presents students with an overview of financial concepts, terminology, and principles, introduces to the financial management methods applicable to the personal and business practices (including SMEs and companies). Course covers basic financial theories, and their relevance to the financial management and investments. Introduction to finance course combines theory with practical examples, using case discussions and simulations.

Aim of the course

The course objective is to introduce students to the main elements, methods and principles of finance. It will provide basic knowledge and skills applicable to personal and managerial finance. Course starts with the general overview of finance, introduces to financial concepts, instruments, and techniques used in financial decision making. The first part of the course focuses on basic financial data, financial statements, cash flow, also main financial concepts as time value of money, risk and return, interest rates. The second part of the course deals with financial management.

Learning outcomes

• Explain financial system elements and their activities and functions via systemic approach.
• Explain and analyse saving and investing, financial assets, interest rate concepts and their importance in financial market.
• Analyze financial markets and their environment.
• Analyze financial planning process elements in household finance: personal financial life cycle, financial statements and ratios.
• Apply concepts of time value of money to solve various problems.
• Analyze goals of the firm and role of the financial manager in financial decision making.
• Prepare and explain financial statements: Balance sheet, Income statement, Cash flow statement. Evaluate proforma financial statements and budgets.
• Understand and evaluate relationships among financial decisions. Understand difference between short and long financing decisions.
• Work in teams, present work results in writing and oral presentation.

Annotation

This course is an introduction into the contemporary debate on the changing patterns of the international economy and challenges the world is facing. The course deals with three major aspects of the global economy, firstly the trans-national economic flows, such as trade in goods and services, migration, financial transactions and investment. The problems are discussed before the background of international micro- and macro-economy. The aspects covered are balance of payments dynamics, exchange rate regimes, national income accounting, terms of trade, etc. Secondly the course deals with the downsides of economic globalisation such as the underlying reasons for crises and their effects on the economy, poverty and environmental degradation. Thirdly the course looks at the actors in the global economy: international organizations, national governments, non-governmental organisations, multinational corporations and regional integration initiatives. Hereby the motives, interest and interaction of the actors is scrutinised and furthermore the development of the global economic governance system is discussed.

Aims of the Course

The International Economics and Trade course aims to equip students with necessary analytical tools for analyzing and critically assessing the current dynamics of the international economy and challenges the nation states face in their pursuit of economic welfare. In particular, this course aims to:

• Introduce students to various conceptualizations and theories of (economic) globalization phenomena;
• Analyze global trade and finance governance structures and assess their policies and role in international economics;
• Examine strategies and techniques of trans-national corporations in global economy;
• Discuss the key issues and future challenges for the globalized world economy of the 21st century;
• Identify and exemplify causes and consequences of change in international labour, trade and financial flows;
• Provide the underpinnings of the global financial system;
• Discuss the causes and policy actions surrounding economic crises;
• Give an oral presentation on a selected topic on International economics & trade.

Course description

Strategic management course focuses on the concept of strategy development and implementation by exploring the functions and nature of general management. Strategic management concepts and techniques are studied. The course serves as an opportunity to develop skills for strategic thinking and analysis, understanding of the major strategic problems of an organization, formulating business level strategies. The pedagogical approach includes lectures, computer simulation, practices, group and individual work by students. This course integrates all the knowledge acquired from various functional courses, coupled with new strategic management techniques learned, to chart the future direction of different organizations into a coherent view of organisation. As such it requires use of materials and knowledge gained during previous studies various disciplines of management.

Course aims

To provide students the fundamental knowledge of strategic management concepts and techniques; to enable students to identify key problem in complex, comprehensive situation. The major responsibility of students in this course to make objective strategic decisions and present well supported recommendations for future action while justifying them through oral and written communication.

Learning outcomes

• To develop an understanding of the elements of the Strategic Management process, research and theories.
• To be able to analyze micro and macro environments; implement an industry analysis and be able to apply strategic evaluation tools to understand how a business is operating.
• To be able to describe and to analyze the impact of economic, social, political, and cultural variables which affect a business operation.
• To learn how to apply the Strategic Management process to real life business cases and develop recommendations to help firms create and sustain competitive advantage.
• To be able to summarize the options available for the company, to defend the recommendations. Evaluate the strategic rationale for each alternative and assume the risks of an organization.
• To be able to work in a team, to present work results in written or oral form, to be able to argue decisions.

Course description 

This is an introductory course of basic micro- and macroeconomic concepts, as well as of fundamentals of management theory. Topics include supply and demand theories, market structures/ factors, the determinants of business strategy and various aspects business organization. The course will have a focus on international economics and global business behavior. It will stress on preparing students for a successful career, using economic and business concepts in a market oriented society. It shall also serve as a foundation upon which students can build advanced studies in economics.

Course aim

The objective of Principles of Economics for Business and Management syllabus is to provide students with a basic understanding of how the economy as a whole works. The participants shall be exposed to basic economic concepts, in order to gain a framework for viewing and interpreting the economic and business world around them. This course acts as prerequisite for the Microeconomic and Macroeconomic courses. 

Learning outcomes

• Define and explain how basic concepts of microeconomics (such as elasticity, scarcity or choice) can be used to explain the behaviour of individuals, household or firms.
• Represent supply and demand, in graphical form, including the downward/upward slope of the curves and what shifts/moves along the curves.
• To understand the importance of market structures, on the question of the stability and failure of markets.
• Describe and explain how basic macroeconomic policies (such as fiscal or monetary) can be used to analyse the economy as a whole.
• Explain basic management, business and marketing principles to be able to continue studies on a higher level.
• To understand the role of PESTLE factors on the SWOT of corporations, in the domestic and the international business environment.