Within the Post-graduate studies at the Faculty of Economics, students are offered further improvement and specialization in the chosen field of business and economy. The study programs of the second cycle of studies are designed to respond to the current needs of the trade market within the framework of the domestic economy but also on the worldwide level.
By finishing these studies, you gain the title Masters in Economic sciences (in the chosen field) after which you gain opportunities for career advancement or employment in attractive domestic and international companies
Accounting and auditing (60 ECTS)
The structure of the study program in Accounting and Auditing allows second-cycle students to gain in-depth and advanced knowledge of designing and using analytical tools to interpret problems, challenges, and risks in the management process, as well as developing a critical understanding of the economic, social, and political factors that affect the structure, the processes, functioning, and the culture in the organization.
Students of this cycle of studies acquire extended knowledge in the field of financial reporting, functioning of the accounting system, accounting methods and techniques of cost management, accounting methods for the realization of business combinations, methods of consolidation, accounting aspects of tax calculation, analysis of financial statements, evaluation of business activities performed, audit methods and procedures, functioning of internal control, etc.
The study program lasts 1 year, i.e. two semesters and carries 60 ECTS credits according to the European Credit Transfer System.
Upon completion of the one-year studies of the second cycle of this program, students acquire the title: Master of Economic Sciences in Accounting and Auditing
Admission requirement: Bachelor’s degree with at least 240 ECTS from the first cycle of (undergraduate) studies that last 4 years.
Some of the core courses in the Accounting and Auditing second-cycle study programme include:
COMPULSORY:
- Financial Reporting
- Management Accounting
- Advanced Auditing
- Financial Statement Analysis
ELECTIVE:
- Cost Accounting
- Taxation and Tax Accounting
- Corporate Financial Reporting
- Public-Sector Auditing
- Contemporary Management
- Corporate Finance
- Budgetary Accounting
- Accounting for Financial Institutions
- Accounting Information Systems and Technologies
- Accounting Practices and Decision-Making in the Logistics Sector
- International Financial Reporting
- Internal Auditing
- Pricing Policy
During the study of the Accounting and Auditing program, students will gain the following applicable knowledge and skills:
Students from the second cycle of studies of the study program Accounting and Auditing, will improve the acquired knowledge and skills, acquire an appropriate research dimension and expertise in a given area of economics, improved with specific knowledge and skills in accounting, finance and auditing, thereby increasing the quality of accounting and auditing practice in organizations, and thereby implicitly will increase their competitiveness and organizational performance.
Upon finishing these postgraduate studies in the field of Accounting and Auditing, students will be richer in knowledge of modern accounting and auditing practices, will develop their research skills in the field, as well as will be able to apply and transfer the acquired knowledge in the business practice at a highly professional level.
The employment opportunities after completing this program are predominantly focused on the financial sectors of companies as well as the financial industry as a whole and are great.
The structure of the created study program in Accounting and Auditing, for the second cycle, as well as each specific course program (their goals and content) is in accordance with the study programs of several world’s famous universities, which is a guarantee for the profiling of professional personnel, who will easily find their place, both in the domestic and international labor market.
Professional staff in the field of accounting and auditing is necessary not only in the business sector, but also in the government, in the non-profit sector, and in general, in all social spheres – and with multidimensional employability.
Master students with improved knowledge of the complex world of accounting and auditing, in addition to universities, will find their places in senior positions in organizations in the business sector, the non-profit sector, accounting bureaus, audit houses, government institutions, public enterprises, and in general, in all organizations that apply accounting as a concept in their functioning.
Finance (60 ECTS)
The Finance study program provides second-cycle students improvement of the basic knowledge of financial theory, financial analysis, and financial research, which they acquired in the first cycle of study. The gained knowledge and skills can be applied to a wide range of careers in finance, including banking, government finance, risk management, international finance, corporate finance, actuarial occupations, financial planning, and more.
The study program lasts 1 year, i.e. two semesters and brings 60 ECTS credits according to the European Credit Transfer System.
By finishing these one-year second cycle studies, the students gain the title: Master of science in Finance
Condition of enrollment: gained diploma with at least 240 ECTS of first cycle graduate studies that last 4 years.
The structure of the Finance study programme comprises core compulsory courses, elective courses, and the preparation of a Master’s thesis.
Compulsory courses:
- Corporate Finance
- Financial Markets
- Public Finance 2
- Advanced Banking
- Empirical Finance
Some of the elective courses, which allow students to develop more specialised expertise, include:
- Investment Banking
- International Finance
- Corporate Taxation
- Capital Market Analysis
- Behavioural Finance
- Local Finance 2
- Financial Innovation and Engineering
- Financial Economics
- Financial Management in the Public Sector
- Pricing Policy
- Financial Statement Analysis
- Portfolio Management
Students enrolled in the Finance degree program acquire the following applicable knowledge and skills during their studies:
Financial Analysis: Ability to analyze financial data and assess the financial condition of organizations. Assess investment opportunities, identify trends and patterns in financial data, and make informed decisions based on financial analysis.
Financial Management: Financial management skills, including budgeting, forecasting, and financial planning. Cash flow management, optimizing resource allocation, and making strategic financial decisions.
Investment Management: Investment strategies, including portfolio management, risk assessment, and asset valuation. Analysis of investment opportunities, development of investment portfolios, and investment recommendations.
Quantitative analysis: Quantitative analysis skills, including statistical analysis and modeling. Use of data analysis tools to identify patterns and trends in financial data and make predictions about future financial performance.
Communication: Strong communication skills, including written and verbal communication, as well as the ability to present financial information to stakeholders
Upgrading fundamental knowledge in finance: the use of the previously listed skills in deepening knowledge in the financial theory and practice section, as well as acquiring creative skills to solve contemporary financial challenges.
Research work: application of advanced knowledge and skills to achieve significant progress in the field of scientific research.
Employment opportunities after completing this program are numerous and dispersed across all financial sectors of companies, financial institutions, investment funds, non-financial institutions, government institutions, and the financial industry. Students with the best results in the second cycle of studies also have opportunities for employment as assistants at some of the research institutions in the country.
Financial Analyst: Employed by investment banks, corporations, or other financial institutions. Responsible for analyzing financial data, evaluating investment opportunities, and making recommendations to clients or senior management.
Investment Banker: At investment banks, corporations, or other financial institutions. Responsible for advising clients on mergers and acquisitions, undertaking securities offerings, and providing strategic financial advice.
Actuary: In insurance companies, pension societies, investment funds. These professionals possess analytical and business skills in mathematics, statistics, probability and finance, which they apply to the analysis of financial uncertainty and risks for the purposes of complex financial and social systems around the world.
Capital Manager: In banks, investment firms, or other financial institutions. Responsible for managing clients’ investments, advising on financial planning, and developing investment strategies.
Tax Expert: In Consulting Bureaus, Public Revenue Administration, Ministry of Finance. These individuals possess knowledge and skills in the field of fiscal and tax policy, which are essential for improving the legal solutions by which tax matters are regulated and applied.
Risk Manager: Employed by banks, insurance companies, or other financial institutions. Responsible for identifying and managing risks associated with financial investments, loans, or other financial products.
Corporate Financial Analyst: In corporations or other businesses. Responsible for analyzing financial data, preparing financial statements, and advising management.
International Economics and Business (60 ECTS)
The International Economics and Business study programme is designed for students who wish to acquire advanced knowledge and practical skills for understanding and managing contemporary economic and business processes in national, regional, and global environments. The programme integrates economic theory with business practice, with a particular focus on the functioning of the global economy, international trade, international finance, global supply chains, and the strategic management of business processes.
Through a modern and interdisciplinary approach, students develop the ability to analyse the impact of global economic trends, economic policies, financial markets, international institutions, and geoeconomic changes on company performance and competitiveness. The programme enables students to develop competencies for making informed business decisions, managing risks, analysing international markets, and designing strategies for companies’ entry, positioning, and development in global markets.
The knowledge and skills acquired enable graduates to pursue careers in domestic and international companies, multinational corporations, financial institutions, public-sector organisations, international organisations, and consultancy firms, as well as to continue their academic and research development.
The study programme is delivered over 1 year, i.e. two semesters, and carries 60 ECTS credits under the European Credit Transfer and Accumulation System.
Upon completion of the one-year second-cycle academic studies in this programme, students are awarded the title: Master of Science in Economics in the field of International Economics and Business.
Admission requirement: completion of first-cycle (undergraduate) studies comprising at least 240 ECTS credits and lasting 4 years.
The structure of the International Economics and Business study programme (one-year programme) comprises core compulsory courses, elective courses, and the preparation of a Master’s thesis.
Compulsory courses:
- International Business
- Advanced Business Economics
- International Finance
- International Transport and Global Supply Chain
- Global Economy
Some of the elective courses include:
- Theories of the Firm 2
- Industrial Relations and International Organisations
- International Transport Documentation
- International Trade
- International Macroeconomics
- International Corporate Finance
- International Development
- International Financial Reporting
- International Marketing
- Strategic Management
- Accounting Practices and Decision-Making in the Logistics Sector
- International Financial Markets and Institutions
- Public Finance 2
During their studies in the International Economics and Business programme, students acquire the following applicable knowledge and skills:
International Economic Analysis: the ability to analyse and interpret complex economic processes at both microeconomic and macroeconomic levels and assess their impact on national and global economies.
International Business: understanding how companies operate in an international business environment, developing strategies for international market entry and expansion, and making decisions in conditions of global competition.
International Finance: analysis of international financial markets, financial flows, investments, and risks associated with operating in global markets.
International Trade and Logistics: understanding the mechanisms of international trade and managing processes related to global supply chains, transport, and logistics.
Analytical and Quantitative Skills: collecting, processing, analysing, and interpreting economic and business data using contemporary methods and techniques.
Strategic Thinking and Decision-Making: the ability to identify opportunities and risks in the global business environment and develop appropriate strategies for sustainable growth and competitiveness.
Communication and Research Skills: presenting and defending arguments effectively, applying scientific research methods, and solving complex economic and business problems.
International Perspective: developing the ability to understand different economic, institutional, and business environments and their impact on the operations of organisations.
Completion of the International Economics and Business study programme opens up a wide range of opportunities for professional development in both domestic and international business environments.
Business Analyst: analysing economic and business data, identifying opportunities and risks, and preparing recommendations to support business decision-making.
International Business Manager: developing and implementing strategies for companies’ entry into and growth in foreign markets.
Economic Analyst: analysing macroeconomic and microeconomic trends and assessing their impact on companies and the broader economy.
International Trade Manager: managing import and export processes, international business transactions, and relationships with foreign partners.
Supply Chain and Logistics Manager: planning and optimising global supply chains, transportation, and logistics processes.
Financial Analyst: analysing international financial markets, investment opportunities, and financial risks.
Corporate Financial Analyst: analysing financial performance and preparing strategic financial recommendations for companies operating in domestic and international markets.
International Business Consultant: advising companies on entering new markets, internationalisation, business model development, and the management of international business challenges.
Economic and Business Researcher: conducting economic and business analyses and research in companies, institutions, research organisations, and international organisations.
Marketing management (60 ECTS)
The study program Marketing Management provides students with the acquisition of knowledge in various areas of business with a focus on marketing and management of marketing processes in organizations. The program offers opportunity for the student to gain knowledge that is necessary for the functioning of a business entity, starting from its structuring, its functioning to its overall development.
The importance of the program lies in the fact that offers opportunities for the students to get involved in the work of the companies from various industries, while applying the acquired knowledge and skills related to the planning and implementation of marketing tools in various marketing strategies and plans. The acquired knowledge and skills offer opportunities for students to engage in the labor market in various fields such as the private sector and the public administration, the non-governmental markets, and apply and implement the acquired skills.
The study program lasts 1 year, i.e. two semesters and carries 60 ECTS credits under the European Credit Transfer System.
Upon completion of one-year academic studies of the second cycle of this program, students acquire the title: Master of Science in Marketing Management
Admission requirement: Bachelor’s degree with at least 240 ECTS from the first cycle of (undergraduate) studies (lasting 4 years).
The structure of the study program Marketing Management (one-year studies) includes compulsory subjects, optional courses and the preparation of a master thesis.
Compulsory courses:
- Strategic Marketing
- Marketing Management
- Business Communication and the Social Media
- Strategic Management
Some of the optional courses are the following:
- Market research
- Brand management
- Marketing channels and retail
- Innovation and competitiveness
- Project Management
- Integrated marketing communications
- E-business
- Consumer behavior
- International Finance
- International Business Marketing
You can view the full structure of the study program at the following link, while the course program for each course here.
During these studies in the field of Marketing and Management, students will gain the following applicable knowledge and skills:
Knowledge of consumer psychology: The ability to assess consumer behavior in given situations.
Marketing and sales: Knowledge of developing marketing strategies, market analysis, and managing sales activities.
Analytical skills: Ability to investigate, collect, interpret information, and draw conclusions.
Forecasting and Planning: The ability to anticipate and plan for the next events and events included in a marketing plan.
Leadership skills: Motivating, leading, and encouraging others on the team.
Critical thinking: the ability to interpret, evaluate, and analyze facts and information that are available, to evaluate or decide whether something is right or wrong
Problem solving: The ability to identify the source of a problem and find an effective solution.
Organizational skills: Ability to coordinate others in a team and create a working atmosphere.
Technical skills: Using social media marketing, being able to use a Content Management System (CMS)
Communication skills: The ability to communicate with people inside and outside the company.
Completing the Marketing Management program opens a wide range of career and job opportunities in a variety of positions and industries.
Marketing Manager: Develop strategies to promote products and services.
Operations Manager: Manages production, production, and operational processes.
Brand Manager: Managing and developing the brand’s image and presence in the market.
Market Research Analyst: Analyzing market conditions to identify potential sales opportunities.
Digital Marketing Coordinator: Creating campaigns, coordinating them, and setting budgets.
Sales Representative: Ongoing engagement with existing and potential customers, as well as sharing information with them.
Promotion and Sales Manager: Planning, directing, and coordinating advertising policies and programs to generate interest in specific products and services.
MBA - Management (60 ECTS)
The MBA – Management degree program is designed to provide students with a comprehensive understanding of business, business operations, strategic thinking, leadership, and communication skills – critical to a successful career in management. Completing the program not only increases business knowledge and managerial skills, it also creates a wide range of career opportunities across a variety of industries. Master’s students are well-prepared to take on leadership and managerial roles, whether they are companies, startups, non-profit organizations, or government bodies.
The study program lasts 1 year or two semesters and carries 60 ECTS credits according to the European Credit Transfer System.
Upon completion of the one-year academic studies of the second cycle of this program, students acquire the title: Master of Science in MBA Management
Admission requirement: Bachelor’s degree with at least 240 ECTS from the first cycle of (undergraduate) studies that last 4 years.
The structure of the MBA – Management study program includes compulsory courses, optional courses and master thesis preparation:
Compulsory courses:
- Modern management
- Project Management
- Marketing Management
- Strategic Management
Part of the optional courses are the following:
- E-business
- Human Resource Management
- Leadership
- Organizational behavior
- Entrepreneurship
- Business communication and the social media
- Financial Management
- Methodology and organization of scientific research work
During the MBA program, students are will gain the following applicable knowledge and skills:
Strategic thinking and planning: Ability to develop and implement long-term business strategies.
Leadership and Team Management: The ability to lead, motivate, and manage teams to achieve business goals.
Operations Management: Skills to optimize business processes, manage production, and increase efficiency.
Project Management: The ability to plan, prepare, and supervise projects to achieve goals within a given budget and timeframe.
Human Resource Management: Understanding the recruitment, training, development, and keeping the employees.
Business Ethics and Corporate Responsibility: Awareness of ethical practices and corporate responsibility in business.
Data Analytics and Decision Making: Skills to analyze data and use information to make informed business decisions.
Global Perspective and Cultural Awareness: Understanding Global Markets and Cultural Differences in Business.
Innovation and entrepreneurship: Ability to create and implement new ideas and lead entrepreneurial initiatives.
Networking and communication skills: Developing professional relationships and effective communication in business environments.
Technology Awareness and IT Management: Understanding Information Technologies and Their Application in Business.
Negotiation skills: Ability to effectively negotiate and reach agreements in business activities.
Completing an MBA program in management opens up a wide range of career and job opportunities in a variety of positions and industries.
General Manager: Supervising the day-to-day operations of the company and making sure that business goals are met.
Operations Manager: Manages production, production, and operational processes.
Project Manager: Leading projects from initiation to completion, ensuring that budget and time constraints are met.
Management Consultant: Advising companies on business strategies, operations, and management practices.
Strategic Consultant: Providing highly strategic advice to improve business performance.
HR Manager: Manages recruitment, employee relations, and workplace policies.
Marketing Manager: Develop strategies to promote products and services.
Market Research Analyst: Analyzing market conditions to identify potential sales opportunities.
Product Manager: Leading product development and product lifecycle management.
Supply Chain Manager: Manages logistics, supply chain operations, and inventory.
Nonprofit Manager: Leading and managing nonprofit organizations and civic associations.
Public Sector Manager: Managing projects and operations in government institutions and agencies.
IT Consultant and Manager: Specializing in advising businesses on how to use information technology to achieve their goals.
Business Founder: Launching and managing new business ventures.
MBA - Management (Two years studies - 120 ECTS)
The MBA – Management (two-year study) program provides a comprehensive understanding of business, business operations, strategic thinking, leadership skills, problem solving, and communication – necessary for a successful career in management. The program combines theoretical knowledge with practical aspects, preparing master students for complex business environments and fostering organizational success.
The study program lasts 2 years, i.e. four semesters and brings 120 ECTS credits according to the European Credit Transfer System.
Upon completion of two-year academic studies of the second cycle of this program, students gain the title: Master of Science in MBA Management
Admission requirement: Bachelor’s degree with at least 180 ECTS from the first cycle of (undergraduate) studies that last 3 years.
The structure of the MBA study programme (two-year programme) comprises core compulsory courses, elective courses, and the preparation of a Master’s thesis.
Compulsory courses:
- Contemporary Management
- Project Management
- Strategic Management
- Human Resource Management
- Investment Management
- Marketing Management
- E-Business
- Market Research
Some of the elective courses include:
- Leadership
- International Business
- Entrepreneurship
- Change Management
- Business Communication and Social Media
- Integrated Marketing Communications
- Financial Management
During the MBA program, students will gain the following applicable knowledge and skills:
Strategic thinking and planning: Ability to develop and implement long-term business strategies.
Marketing and sales: Knowledge of developing marketing strategies, market analysis, and managing sales activities.
Leadership and Team Management: The ability to lead, motivate, and manage teams to achieve business goals.
Operations Management: Skills to optimize business processes, manage production, and increase efficiency.
Project Management: The ability to plan, prepare, and supervise projects to achieve goals within a given budget and timeframe.
Human Resource Management: Understanding the recruitment, training, development, and keeping the employees.
Financial Analysis and Management: Understanding financial statements, budgeting, investment, and financial resource management.
Business Ethics and Corporate Responsibility: Awareness of ethical practices and corporate responsibility in business.
Data Analytics and Decision Making: Skills to analyze data and use information to make informed business decisions.
Global Perspective and Cultural Awareness: Understanding Global Markets and Cultural Differences in Business.
Innovation and entrepreneurship: Ability to create and implement new ideas and lead entrepreneurial initiatives.
Networking and communication skills: Developing professional relationships and effective communication in the business environment.
Technology Awareness and IT Management: Understanding Information Technologies and Their Application in Business.
Change management: Ability to lead and manage organizational change and innovation.
Negotiation skills: Ability to negotiate effectively and reach agreements in business acts.
Completing an MBA program in management opens up a wide range of career and job opportunities in a variety of positions and industries.
General Manager: Supervising the day-to-day operations of the company and making sure that the business goals are met.
Operations Manager: Manages production, production, and operational processes.
Project Manager: Leading projects from initiation to completion, ensuring that budget and time constraints are met.
Management Consultant: Advising companies on business strategies, operations, and management practices.
Business Development Manager: Identifying new business opportunities and partnerships.
Strategic Consultant: Providing highly strategic advice to improve business performance.
HR Manager: Manages recruitment, employee relations, and workplace policies.
Marketing Manager: Develop strategies to promote products and services.
Brand Manager: Managing and developing the brand’s image and presence in the market.
Market Research Analyst: Analyzing market conditions to identify potential sales opportunities.
Product Manager: Leading product development and product lifecycle management.
Supply Chain Manager: Manages logistics, supply chain operations, and inventory.
Nonprofit Manager: Leading and managing nonprofit organizations and civic associations.
Public Sector Manager: Managing projects and operations in government institutions and agencies.
IT Consultant and Manager: Specializing in advising businesses on how to use information technology to achieve their goals.
Business Founder: Launching and managing new business ventures.
Technology Startup Consultant: Advising tech startups on business strategies.
Previous accreditations
For more information contact the referents for second cycle of studies:
Katerina Hadzi-Vasileva
Phone: +389 32 550 076
E-mail: katerina.hadzivasileva@ugd.edu.mk
Address: Krste Misirkov. Fax.201,
Stip, 2000, R. Macedonia