Aim of the course 

This course introduces students to communication theories and the research methods associated with each. Of particular emphasis is the application of these theories to personal, professional, and mediated settings. At the end of the course, students should be able to use the terminology associated with communication theories and apply them to communication events. Students should demonstrate spoken and written communication competence, analyze communication phenomenon from different perspectives as well as apply knowledge of communication theories to “real world” issues.

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.

Aim of the course

This course introduces students to supply chain management, with a particular focus on its global nature and its impact on sustainability. Key functional areas of supply chain management including sourcing and procurement, production and inventory maangement, transportation, warehousing and reverse logistics are covered in an integrated framework. The course also introduces students to supply chain performance measurement and risk management, and to the role of supply chain strategies in supporting business goals.

Supply Chain Management has eveolved into a critical business function. The aim of this course is to familiarise students with the fundamental concepts of supply chain activities and the decisions managers face in sourcing, planning, making and delivering their goods and services effectively and efficiently. The course provides students with the language, concepts, and tools to deliver value to stakeholders with sustainable supply chain actions.

Learning outcomes

• Ability to understand the role of supply chain management as a key function in corporate strategy. Impact of supply chain management on sustainability.
• Ability to understand and discuss the main concepts and  terminology of supply chain management.
• Ability to model and analyze key problems in supply chain including procurement, production and logistics.
• Ability to see an organization as a system of interrelated processes.

Aim of the course

The course aims to introduce students to the main concepts of law, ethics, corporate social responsibility and sustainable development. The recent Global Financial Crisis and COVID-19 pandemic increased the spotlight on ethical matters and has raised the question of how the economic and social environment have to be designed in order to contribute to the needs of the society. Whereby the idea of self-regulation and corporate social responsibility plays an important role in Anglo-Saxon Countries, regulation by the state is emphasized more in the European Context. Most business representatives prefer the idea of strengthening the concept of Corporate Social Responsibility (CSR) as it shifts decision-making power from the state towards corporations. On the other hand, NGOs and representatives by the society favor a more active role by the government. 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.

Learning outcomes

• Introduce students to the core concepts of business ethics and social responsibility in practice.
• Discuss and analyse issues within the area of ethics in economics and business.
• Assess and analyse ethical dilemmas.
• Develop a general orientation in social and moral business dilemmas of our times.
• Understand ethics as a key of the soft skills elements in an international context.
• Apply critical thinking and problem-solving skills in a changing environment.
• Demonstrate knowledge and ability to evaluate and assess ethical theories by appealing to realistic scenarios.
• Explain the relevance of modern ethical theory towards business managers and economists as a tool that guarantees that business serves primarily the interests of society.

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.

Aim of the course

• 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

• 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.

Aim of the course

The course aims at providing training in the principles of academic writing and presentations. The syllabus is a combination of theoretical knowledge and practical skills. By the end of this course, the students will be able to understand the core concepts and requirements of writing academic texts and apply the requirements in writing course assignments, and giving presentations.

Learning outcomes

• Students will identify basic principles of rhetoric and develop an understanding of written texts as arguments generated for particular purposes, audiences, and rhetorical contexts.
• Students will be able to employ analytical reading to summarize, paraphrase, draw evidence from, synthesize, and respond to the scholarship of others.
• 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 and oral presentations.
• Students will be able to critically evaluate their own and others’ work and collaborate effectively with other writers throughout the writing process.
• Students will be able to organize their learning process and work autonomously on writing projects. They should also demonstrate understanding of academic responsibility and integrity.

THE AIM OF THE COURSE

 This course aims to develop skills for mathematical modelling of basic economic, financial, managerial and engineering problems.

Learning outcomes

• Ability to operate the main concepts, laws, and techniques of linear algebra, linear programming, differential and integral calculus.
• Ability to apply these concepts, laws and techniques in economic, financial, managerial analysis and engineering.
• Analytical thinking, active learning and learning strategies, complex problem-solving, critical thinking and analysis, initiative (see Annex II).

Aim of the course

The course is designed for practical application of knowledge and skills that were acquired during studies. The major focus in the course is on managerial and business elements that are usually not evident to during classes. Students are expected to apply a number of carious managerial tools to a specific company situation and draw reasonable solutions out the analysis.

During the internship students work in a 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 Center provides support in finding an internship

While working in a company, students get 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 the internship report to the Study department on appointed time and present (defend) it in class on appointed time.

Overall scope of internship is 15 ECTS (405 academic hours). These consist of:

• 360 academic hours in a company;
• 10 academic hours in-class lectures, consultations and feedback on a report;
• 35 hours are student‘s self-study: preparation of an internship

Learning outcomes

• To perform analysis of internal and external company factors.
• To collect data on a company which operates in local or foreign market for the analysis.
• To pursue PESTEL analysis, consumer needs, market assessment, positioning analysis for the company (SBU); to frame findings into SWOT analysis.
• To suggest strategic guidelines for the company (SBU): to transform SWOT into TOWS and suggest particular actions.
• To present findings in written form, reasoning proposed decisions.
• To familiarize with company’s practical activities, to assure everyday fluent tasks’ completion as assigned by direct supervisor in the company.

Aim 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.

Aim of the course

This is a course in 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.

Aim of the course

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.

Aim of the course 

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.

Aim of the course

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 prepare financial statements and acquire knowledge and practical skills in keeping accounting in the companies.
• 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 four aspects: organizational, technical, methodological, ethical.

Aim 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.

Aim of the course

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 and multi-criteria decision making are dealt in the course. Computer spreadsheets are used all over the course.

Learning outcomes

• 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 visualization.
• To develop skills of using computer spreadsheets.

Aim of the course

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

• The student is able to understand the purpose and scope of empirical research.
• The student can identify and understand potential ethical, empirical and analytical problems plaguing the research process and ways to overcome them.
• The student is able to identify a business problem/ need, translate it into a research question, and design an appropriate way to answer it.
• The student is able to formulate empirically testable hypotheses and choose the most appropriate tools for testing them.
• The student is able to identify and understand the main qualitative and quantitative methods of business research, their advantages and disadvantages and appropriate application areas.
• The student develops skills in choosing suitable case studies, sampling, measurement, questionnaire and interview guide design, conducting interviews and surveys, leading focus groups, processing and analyzing collected data.
• The student is able to communicate research findings and their implications in a clear and well organized way, both orally and in writing.
• The student is able to critically evaluate the quality of own and other people’s research findings and the process used to obtain them.
• The student is able to work as a member of a research team, communicate, share tasks, and keep themselves and teammates accountable for their performance throughout the process of conducting research.

Aim of the course

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

• Introduce students to internal and external forces influencing international businesses.
• 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.
• Explain multicultural aspects of international business and the cultural dimensions that indicate the cultural behavior of international business organizations.
• Analyze objectives of international business assignments and explain the role of expatriates in today’s global business environment.
• Examine the role of International organizations and institutions that affect international business operations.
• Explain intellectual property rights and other legal forces.
• Examine assessment techniques and entry modes into international markets.

Aim of the course

Professional success and management of organizations, in any context, require agreement and collaboration with other people. While this is true for any type of transaction anywhere, it is even truer when the people who interact in order to reach an agreement are from different cultures. Because of a faster and more intense globalization, the ability of reaching agreements, effectively collaborate, and resolve conflicts within a multicultural context, is more and more needed today. Organizations of any industry and sector, today, are increasingly embracing diversity in all aspects and this requires cultural intelligence, sensitivity, communication and negotiations skills to reach synergy and mutually beneficial outcomes. Success in diverse and dynamic environments partly depends on how well each of us knows how to negotiate. These negotiations are very peculiar because they include more variables and may entail complex cross-cultural dynamics. International negotiations, indeed, require a different series of frameworks that have be to be mastered in order to succeed in the global arena. Negotiating internationally requires intercultural awareness, effective cross-cultural communication skills, and specific techniques. Some of the concepts covered in this course are: basic principles of international negotiations, negotiation styles, cultural differences, values and etiquettes, cross-cultural dynamics, conflict analysis and resolution.

Learning outcomes

• Introduce students to the core concepts of cross-cultural communication and negotiations in international contexts.
• Discuss and analyse issues related to international negotiation situations, causes and effects.
• Assess and analyse cross-cultural negotiations situations, problems and solutions.
• Develop a set of effective cross cultural communication skills, and specific techniques for international negotiations and conflict resolution.
• Understand cross-cultural communication and negotiation as a key element in the set of required soft skills needed in international cooperation.
• Apply critical thinking and problem-solving skills in a changing environment.
• Demonstrate knowledge and ability to evaluate and assess international negotiation theoretical concepts, strategies and techniques to be applied in real-life scenarios.

Aim of the course 

This course provides a balanced analysis of international communication challenges, strategies and practices crucial to modern business organizations which operate in an increasingly globalized environment. The course will familiarize students with the core principles of corporate communication, public relations, stakeholder approach to management and the set of competences and skills required from communication professionals and communication savvy leaders in order to solve internal and external business communication and client communication issues.

• 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 have 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.

Aim of the course

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.

Aim of the course

During this course students will address the key themes of the subject material as well as ethical dilemmas in organizations via theoretical study discussions in seminars. Organizational behavior module will be analyzed and discussed in three levels: individual, group, and organization. At individual level the elements of personality, social perception, learning, motivation and attitudes, theories and their application possibilities in the management of our own and other people’s working behavior will be analyzed. At group and organizational levels, the processes occurring in workgroup that influence the relationships of group members and their work results, personal and organizational means of improving group performance will be discussed. The last part is dedicated to show relations between organizational behavior and human resource management practices.

Learning outcomes

• Knowledge and its application. Describe the main organizational behavior theories and apply them to the practical issues.
• Analysis. Analyze a company as an integral unit, which strives for certain goals in a market and social environment.
• Research skills. Conduct the analysis of a company internal and external situation by employing data analysis frameworks: SWOT, PESTEL, etc.
• Special abilities. Apply a systematic, critical and constructive thinking in problem identification and solving.
• Social abilities. Communicate and work effectively in an intercultural and interdisciplinary group.
• Personal abilities. Demonstrate independent learning skills necessary to continue studies on a higher level.

Aim of the course

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.

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.

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.

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.

Aim 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 global economy and challenges the nation states face in their pursuit of economic welfare.

Learning outcomes

• Distinguish various conceptualizations and theories of the (economic) globalization phenomenon.
• Analyze global trade and finance governance structures and assess their policies and role in a global economy.
• Examine strategies and techniques of trans-national corporations in a global economy.
• Determine the key issues and future challenges for the globalized world economy of the 21st century.
• Identify causes and consequences of change in international labor, trade and financial flows.
• Recognize the underpinnings of the global financial system.
• Debate the causes and policy actions surrounding economic crises.

Aim of the course 

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 an organisation. As such it requires the use of materials and knowledge gained during previous studies various disciplines of management.

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.

Aim of the course

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. 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, 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.