Faculty of Business and Economy. South East European University. in collaboration with partner universities in the Tempus project no.

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1 Faculty of Business and Economy South East European University in collaboration with partner universities in the Tempus project no TEMPUS-2008-UK-JPHES Masters Programme in Entrepreneurship and Local Economic Development (ELED) Aim The aim of this study programme is to provide high quality specialist education in entrepreneurship at Masters level and to contribute to the creation of an entrepreneurial environment in the Republic of Macedonia by training the specialists needed by the labour market. The programme will make use of professors from universities involved in the Tempus Project in which SEEU is a partner. Objectives The development of the Macedonian economy is closely linked to the development of entrepreneurship and the SME sector. Although the subject of SMEs is studied in many business and management courses at higher education institutions, there are no study programmes concentrating on entrepreneurship, its different dimensions and its role in local economic development. As a result, there is a shortage of specialists in this area. Furthermore, public institutions at national and regional levels, which are expected to facilitate the work of entrepreneurs, are also short of specialists with a broad vision of the future direction of the Macedonian economy. The objective of this study programme is to respond to this need by providing the students with: The theoretical and empirical knowledge of entrepreneurship The analysis of different dimensions of entrepreneurship The problems of economic development in a transition country such as the Rep of Macedonia The analysis of local economic development issues and related policy measures The legal environment of entrepreneurship at national, European and international levels The impact of globalisation and membership of the European Union on local economic development The experience of being taught by professors from EU partner universities in the Great Britain, Germany, Italy, Belgium, Sweden, Slovenia and Greece, and learning the different teaching and learning practices in EU universities The knowledge of the latest literature on entrepreneurship and local economic development in English language journals and books

2 The ability to engage in independent research at an advanced level. Support from the EU Tempus Project This Masters programme is academically and financially supported by the Tempus Project No TEMPUS-2008-UK-JPHES. The aim of the Tempus project is to support the establishment of academic and vocational programmes in entrepreneurship and the development of an entrepreneur-friendly environment. The project will support professors from EU partner universities and some of the universities in the region to contribute to the teaching of the subjects on this Masters programme. The partner universities involved in this Tempus Project are: Staffordshire University, UK (Coordinator) Vrije Universiteit Brussel, BE Otto-Friedrich-Universität Bamberg, DE University of Macedonia, EL Universita Politecnica delle Marche, Ancona, IT Vaxjo University, SE University of Ljubljana, SI University of the West of England, UK University of Wolverhampton, UK South East European University Faculty of Economics, State University of Tetovo Faculty of Economics Prilep, University of Bitola Faculty of Economics, "Goce Delcev" University - Stip Faculty of Economics, University of Tirana Faculty of Economics and Agribusiness, Agricultural University of Tirana Faculty of Economics, University of Elbasan Faculty of Economics, University of Prishtina, Kosovo AAB-Riinvest University, Prishtina, Kosovo Admission Requirements Applicants for this study programme should have completed a bachelor s degree in economics, business administration, management, finance, accounting or equivalent with good grades. Graduates of other disciplines with good grades may be accepted on the programme but may be asked to complete undergraduate courses macroeconomics, microeconomics, mathematics and statistics (or a combination of these courses depending on their previous studies). Applicants may be asked to take part in a written or oral examination and the best candidates will be selected. Applicants must have a working knowledge of the English language as courses will be taught in English and Macedonian and reading lists will also include material in English. Length of the programme The programme consists of three semesters of coursework and one semester for writing a Masters thesis. Management of the Programme

3 The Masters programme will be managed by a Management Board made up of the staff teaching on the programme and the Coordinator of the Tempus Project. There will be a Programme Director who would be in charge of the day to day operation of the programme. The Board will operate under the jurisdiction of the Faculty of Economics and Business Administration, South East European University. Number of Students The number of students will be decided by the Management Board each year. It is expected that the first cohort will consist of students. Teaching, Learning and Assessment The Masters programme will employ a range of teaching and learning strategies relevant to individual modules with emphasis on students independent learning. Assessments will also take a variety of forms depending on the expected knowledge, skills and competencies to be tested. They consist of traditional examinations, projects, assignments and group work. The assessment for each module will be decided by the team of professors teaching that module. Structure of the programme The programme consists of 12 modules and a thesis, with a total credit value of 120 ECTS. There are eight compulsory modules and four optional modules (90 credits) and the thesis (30 credits). The components of the Masters programme are: Compulsory Subject ECTS 1. Managerial Economic Economics of Development and Transition Entrepreneurship LED in SEE countries (esp. Macedonia) EU Integration and SME Development Research Methods International Business Management of SMEs 7.5 Total Compulsory courses 60 Optional Subjects (4 from the following list) ECTS 1. Macroeconic Business Environment and SME Development EU and International Business Laws and Regulations Active Labour Market Policy and LED Financial Accounting for SMEs Management Information System Market Research for SMEs Marketing for SMEs Business Ethics and CSR EU and International Business Laws and Regulations 7.5 Total Optional courses 30

4 Masters Dissertation 30 Total for the Masters programme 120 Indicative Content of Modules The brief indicative content of each module is as follows: Managerial Economics. The application of microeconomics principles to issues of concern to management: demand, costs, pricing, optimisation, market structure and the impact of government actions. Salvatore, D., Managerial Economics in a Global Economy (Oxford University Press, 2006) Teaching staff: Dr. F. Besimi (SEEU); Prof. M.Jegers (Ljubljana) Economics of Development and Transition. A review of theories and models of economic development; main policy issues in development economics: poverty, inequality, low growth, migration, human capital development, environment. Main issues facing transition economies and their interaction with development problems. Indicative textbooks: Todaro, M. and Smith, S., Economic Development, 10 th ed. (Prentice Hall, 2009); Gross, D. and Steiherr, A., Economic Transition in Central and Eastern Europe (CUP, 2006) Teaching staff: Prof. M. Shukarov (SEEU); Prof. James Korovilas (University of Bristol) Entrepreneurship. Theory of entrepreneurship and the role of entrepreneur in economic development from Schumpeter to modern times; entrepreneurship and SMEs; the importance of entreneurship for economic growth and employment; characteristics/profile of entrepreneurs; entrepreneurship in transition econies; entrepreneurship and innovation; technological entrepreneurship; business environment and entrepreneurship. Birley, S. and Muzyka, D., Mastering Enterprise (Financial Times Pitman, 2003); Potter, J. and Miranda, G., Clusters, innovation and entrepreneurship (OECD, 2009); Bateman, M., Fiti, T. and Hadzivasilieva- Markovska, V., Entrepreneurship, 2 nd ed. (St Cyril and Methodius University, 2007) [in Macedonian] Teaching staff: Prof. Gada Rexhepi (SEEU); Prof. Marc Goldstein (Brussels)

5 LED in SEE countries. A survey of local economic development issues in SEE countries; the role of institutions; creation of supply chains, clusters and other vehicles for LED; unemployment and the heritage of socialism and its impact; human capital. Bartlett, W., Bateman, M. and Vehovec, M., Small Enterprise Development in South-East Europe: Policies for Sustainable Growth (Kluwer, 2006); Entrepreneurship and Local Economic Development: Programme and Policy Recommendations (OECD, 2003) Teaching staff: Prof. A. Bexheti (SEEU); Dr. Milford Bateman (UK) EU Integration and SME Development. The process of EU integration; theories of economic integration, static and dynamic effects of integration; single markets in goods, services and factors; EU enlargement and the impact of enlargement on both current and future member states; the EU SME charter; the impact of EU integration on SMES. Indicative textbooks: Hitiris, T. European Union Economics (Harvester Wheatsheaf, 2003) Teaching staff: Dr. V. Ramadani/Mr. L. Eshtrefi (SEEU); Prof. G. Canullo (Ancona) Research Methods. Quantitative and qualitative research methods and their application in economics and business research; surveys and their analysis; case studies; regression analysis; use of statistical software packages such as SPSS and Microfit; regression analysis. Teaching staff: Prof. M. Baseska-Gjorgiijoska (Prilep); Prof. G. Pugh (Staffordshire) International Business. Globalisation of production and distribution; principles of international trade; FDI; the impact of multinational companies on firm performance and on the host economy; WTO and its implications. Rugman, A., Collinson, S., International Business, 5 th (Prectice Hall, 2009) ed. Teaching staff: Prof. S. Xhaferi (SUT); Prof. P. Gashi (Prishtina and Staffordshire) Management of SMEs. The management of operations, marketing, finance, human resource and electronic commerce in small businesses; the exploration of the influence of networks in the dynamics of internationalisation of small and medium enterprises. Carter, S. and Jones-Evans, D., Enterprise and Small Business Management: Principles, Practice and Policy (Financial Times/Prentice Hall, 2000)

6 Teaching staff: Prof. M. Matlievska (Stip); Mr. J. O Neil (Staffordshire) Macroeconic Business Environment and SME Development. The role of macroeconomic environment, government macroeconomic policies, general business environment (including the legal and institutional framework), regulations and financial institutions on the development of SMEs with special emphasis on transition countries. Hoshi, I., Balcerowicz, E. and Balcerowicz, L., Barriers to Entry and Growth of New Firms in Early Transition, (Kluwer Academic Publishers, 2002) Teaching staff: Prof. P. Pollozhani (SUT); Prof. H. Wenzel (Bamberg) EU and International Business Laws and Regulations. The relevance of the legal environment to new firms; EU economic laws and regulations (competition laws, labour and social policy regulations, intellectual property rights); topics in interntional business law. Teaching staff: Prof.Pollozani (SUT) Mr. Devi Williams (Staffordshire) Active Labour Market Policy and LED. Analysis of unemployment in transition countries; active labour market policies (job creation schemes, training, reducing information asymmetry, etc.) and their potential impact; experience of ALM policies in other transition countries. Teaching staff:); Dr. A. Hoti (Prishtina) Prof. D. Nikoloski (Prilep)/Dr. N. Mojsoska (Staffordshire, part time) Financial Accounting for SMEs. Understanding the role of accounting and finance in small business; Capital Requirements and sources of finance (bank finance, local/ Central Government Initiatives); business planning and cash flow management; understanding financial statements. Teaching staff: Prof. P.Nikolovski (Prilep)/ Prof. E. Iseni (SUT); Mr. J. O Neil (Staffordshire) Management Information System.

7 Teaching staff: xx Market Research for SMEs. The role of information in marketing; market research process; sources of data; collection and quantitative analysis of data; marketing research methods (surveys, questionnaires, etc.); presentation of research results. Wilson, A., Marketing Research: An Integrated Approach, 2 nd ed. (Pearson Education, 2006) Teaching staff: Marketing for SMEs. The application of techniques of marketing to SMEs with limited resources; utilising modern technology, e-marketing and interactive marketing tools including mobile, SMS, web and ; interactive marketing as concept and function; strategies and new business models customer centred planning. Chaffey, D., Mayer, R., Johnston, K., and Ellis-Chadwick, F., Internet Marketing, 2nd Edition, (FT Prentice Hall,2003); Mohammed, R., Fisher, R., and Jaworski, B., Internet Marketing Building advantage in a networked economy (McGraw Hill, 2002) Teaching staff: Business Ethics and CSR. Perspectives on business ethics; ethical issues in business; individuals and ethical issues; corporations and ethical issues; corporate social responsibility; corporate governance and ethical issues; international business, globalisation and ethical issues; ethical codes and standards. Fisher, C. and Lovell, A., Business Ethics and Values (FT Prentice Hall, 2009) Teaching staff: xx; Dr. D. Douglas (Staffordshire)