guide Student s in Economics PhD program University of Prishtina Hasan Prishtina Faculty of Economics

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1 University of Prishtina Hasan Prishtina Faculty of Economics PhD program in Economics Student s guide Modernizing the 3rd cycle at the University of Prishtina and Developing a PhD Program at the Faculty of Economics

2 University of Prishtina Hasan Prishtina Faculty of Economics Modernizing the 3rd cycle at the University of Prishtina and Developing a PhD Program at the Faculty of Economics PhD program in Economics Student s guide Prishtina, 2016 Student s guide 1

3 University of Prishtina Hasan Prishtina Faculty of Economics Agim Ramadani Str. n.n Prishtina Republic of Kosovo Tel. +381(0) / Website: Project partners: Università degli Studi G.D Annunzio Chieti Pescara Johannes Kepler Univertät Linz Université Nice Sophia-Antipolis Ministry of Education, Science and Technology of Kosovo WUS Kosova Kosovar Accreditation Agency Kosovo Centre for International Cooperation on HE and Technology Program coordinator: Prof. Ass. Dr. But Dedaj 2 PhD program in Economics

4 Faculty of Economics Overview Faculty of Law - Economics started working in the school year 1961/62. On 24 June 1961, a Law for the foundation of the Faculty of Law - Economics in Prishtina was approved. From its foundation to the 2015/16 academic year, the Faculty of Economics was the place where over 35,000 students graduated with instruction in Albanian. Faculty of Economics currently organizes three forms of studies: Bachelor Master of Science PhD Vision Faculty of Economics as an academic unit of Prishtina University envisions: establishing and ensuring an institutional culture of quality development; cooperation with international institutions towards integration into scientific networks in the field of economics; conducting and implementing research projects through the Faculty of Economics Research Institute. Mission Faculty of Economics mission is to prepare professionals to contribute to overall economic progress and social development of Kosovo and beyond, and to advance global knowledge in the field of economics. This mission is consistent with the mission of the University as a public institution of higher education in Kosovo. Student s guide 3

5 This mission is intended to be achieved through: advances in education activities in Bachelor, Master and PhD studies ongoing reforms regarding curricula, teaching methodology, applying contemporary literature etc. intensive involvement in research enrolling highly qualified academic staff continuous academic staff training comprehensive infrastructure improvement becoming a leading regional center for the advancement of knowledge, thought and education in the field of economics thorough participation in regional and international community in higher education field PhD in Economics The launch of the first ever PhD Program in Economics instructed in English Language by Kosovar professors will help the institution to further increase its reputation, contribute to the internationalization of the UP, which traditionally has been the main catalyst of the overall socio-economic development of Kosovo. It will be a competitive program, which will prepare students not only for the Kosovar labor market but also for the European Higher Education Area, where also the Kosova Higher Education System belongs. The PhD Program in Economics is developed through the project Modernizing the 3rd cycle at the University of Prishtina and Developing a PhD Program at the Faculty of Economics, funded by the European Commission through TEMPUS program. 4 PhD program in Economics

6 Aim and profile The aim of the PhD Program in Economics is to prepare graduates to: conduct theoretical and empirical research in economics and publish on an international level; teach in the economic sciences; apply theoretical and empirical research methods to solve economic questions and develop these methods to make them applicable to new questions. Graduates of the PhD Program in Economics find career opportunities, among others: at universities; in research institutions and other post-secondary educational institutions; in research departments of the Central Bank of the Republic of Kosovo, of commercial banks, rating agencies, regional development organizations, market research institutions, and in other enterprises and commercial organizations; in research departments of international organizations; in research departments of public institutions, interest groups, and NGOs. Learning Outcomes Graduates of the PhD Program in Economics will be able to: write scientific publications according to the international standards of reviewed publications; Student s guide 5

7 integrate into international research network; develop independent research programs with scientific integrity; to successfully submit them to national and international research funding organization, and to carry them out; communicate about their special field in their scientific environment, with the scientific community, and with society in general. During the program implementation, the competences will be delivered through: teaching relevant research methods on the highest level; the critical introduction to international scientific discourse; teaching and training additional qualifications; applying new media in scientific communication, knowledge transfer, and academic teaching; writing publications. 6 PhD program in Economics

8 International Relations The newly developed PhD Program in Economics is similar to the study program of the Faculty of Economics of Johannes Kepler University Linz in Austria, and tailor made to the Kosovar context, as well as available capacities and resources. The proposed structure of the program including: courses, co-teaching, co-mentorship and mobility of students, is a result of the three study visits and workshops, which the staff of the Faculty of Economics conducted in the period June September 2014 at the following three partner universities of the project: University G. d Annunzio in Chieti, Italy; Johannes Kepler University Linz in Austria and University Nice Sophia Antipolis, in France. Taking into account the best practices of the EU partner countries as well as the financial possibilities in the project, the program structure has been developed. The TEMPUS project will support internationalization of the PhD Program in Economics through enabling implementation of co-teaching and co-mentorship with the academic staff of the EU three universities and the mobility of Kosovar students to the EU partner institutions. Student s guide 7

9 Co-teaching Integration of international perspectives into the courses and research is part of the culture which the Faculty is trying to grow and embed within the institution. The courses offered in PhD Program in Economics will be taught in a co-teaching form. In each course, there will be a Professor from the Faculty of Economics, as a main person responsible for the overall organization of the course. But each course will be taught in with a co-professor from the EU partner University. Each course will have maximum of 20 hours of teaching, by a professor from an EU partner University. 8 PhD program in Economics

10 Co-mentorship The PhD students will be mentored by a local professor and co-mentored by the international one. Each EU partner University will co-mentor 5 students. The co-mentorship approach will be based on the principles and understanding that teaching and research can best be supported and improved through mutual mentoring when two professors, one from Kosova and one from the EU project partner country work together as partners with a PhD candidate to explore and develop the research thesis / dissertation through a process of dialogue, reflection and self-discovery. Student s guide 9

11 Student Mobility The aim of internationalization of PhD studies at the Faculty of Economics is an important dimension for further development of teaching and research aspects. International mobility at the PhD level is an important part of this study program. In this way in the frame of the PhD Program in Economics, students may conduct a mobility of up to two months in one of the following project partner universities: University G. d Annunzio in Chieti, Italy; Johannes Kepler University Linz in Austria and University Nice Sophia Antipolis, in France. Each institution will host 5 students, in a period of 2 months. The travel costs and costs of stay will be financed by the TEMPUS Project no , and co-financed by the University of Prishtina. The students may conduct their research work in one of the three institutions. During the period of stay students may conduct part of their doctoral work: preparation of PhD thesis, do a research in library, or even may choose to attend a course (only the courses which are in the list of the PhD Program). After completion, the Faculty of Economics will automatically recognize the ECTS credits, in case a course has been elected and attended. 10 PhD program in Economics

12 Target Group and Criteria The doctoral program in Economics is aimed at recent Master graduates who have started their careers or are waiting to be employed; economic-profile employees or other related fields who have finished master studies and express willingness and interest to this program in order to advance their career. The doctoral program in Economics is primarily focused on students who have attained excellent scores during the Master studies. The program is designed in a way as to integrate students from other fields of Economy or students from the Faculty of Mathematics. According to UP s Regulation for doctoral studies, enrollment rights in the PhD program in Economics are granted to: Graduates before implementation of the Bologna Declaration based studies who must be Masters of Science in Economics; Graduates after implementation of the Bologna Declaration based studies who must be Master level Graduates (in Economics) having accumulated at least 300 ECTS credits. The program targets graduates of one of the departments of the Faculty of Economics or Faculty of Mathematics. There will be 15 students admitted in the program. Student s guide 11

13 Student Enrollment The selection of candidates for the PhD Program in Economics is done according to specific criteria set by the University of Prishtina Hasan Prishtina and the Economics Faculty and is equivalent with all other programs within the Faculty. The Program target graduates from the fields of economics and mathematics. In addition, as the study program is taught in the English Language, each candidate must have a proof of English Language knowledge. There will be an admittance test in a written form, which will be developed in cooperation with all project partners. 12 PhD program in Economics

14 Program Content PhD studies last not less than three years, six semesters respectively, but for justifiable reasons if decided by the PhD Studies Council, it may continue up to 5 years. During the study period, students attain a total of 180 ECTSs. In the first semester, the student collects 30 ECTS from the 3 compulsory courses. Each mandatory course counts for 10 ECTS. In the second semester, the student collects 30 ECTS from elective courses. Each elective course has 6 ECTS. Student s guide 13

15 Year 1; Semester 1 Compulsory Courses (3/3) Advanced Microeconomics Advanced Macroeconomic Statistics and Econometrics Advanced Theory of International Trade Applied Econometrics Behavioral Econometrics Economics of European Union Year 1; Semester 2 Elective Courses (5/11) Economics of Public Sector Advanced game theory Market and mechanism design Financial economics Industrial economics Environmental Economics Business Management Year 2; Semester 3 Remaining semester Evaluation and ratification of doctorate project proposal Scientific publication (at least one) of the parts of thesis in an international peer reviewed indexed journal Two presentations at scientific meetings of which one with an international character Completion and public defense of the PhD dissertation 14 PhD program in Economics

16 2.13 Overview of the PhD program in Economics First Year First Semester Nr. Subject Hour ECTS O-obligatory E-Elective 1 Advanced Microeconomics O 2 Advanced Macroeconomics O 3 Statistics and Econometrics O First Year Second Semester 1. Advanced Theory of International Trade E 2. Applied Econometrics E 3. Behavioral Economics E 4. Economics of European Union E 5. Industrial economics E 6. Economics of Public Sector E 7. Advanced game theory E 8. Market and mechanism design E 9. Financial economics E 10. Environmental Economics E 11. Business Management E Student s guide 15

17 Advanced Microeconomics Content of the course Conveying knowledge of microeconomic core concepts in a rigorous and particularly formal manner including the pertinent proofs. The course teaches how to construct formal models and prove propositions. The course offers in-depth treatment of selected topics across a wide area of the field. Some of the topics that will be discus in the class sessions: Course Outline1 Consumers, Producers, Competitive Markets, and Comparative Statics o Consumer Theory (2 weeks) Budget Preferences and Utility, o Demand; Revealed Preference; Aggregation; Consumer s Surplus, Producer Theory (3 weeks) o Technology o Profit Maximization; Cost Minimization o Monotone Comparative Statics Competitive Markets and Efficiency{Partial Equilibrium (1 week) o Competitive Equilibrium o The First Welfare Theorem 16 PhD program in Economics

18 Decisions and Games Decision Theory (2 weeks) o Expected Utility; Risk Aversion; Stochastic Dominance o Portfolio Choice and Insurance Demand o Subjective Probability Monopoly (1 week) An Introduction to Game Theory; Oligopoly Theory (3 weeks) o Strategic and Extensive Form Games (of Complete Information); Dominance; Rational-izability; Nash Equilibrium; Subgame Perfection; Perfect Bayesian Equilibrium o Static Oligopoly Models: Cournot; Bertrand-Edgeworth; Stackelberg o Strategic Moves; Strategic Complements and Substitutes (aka Super modular Games) o Repeated Games and Some Folk Theorems Course s objectives: The purpose of the course is to provide a self-contained analysis of the main building blocks of microeconomic theory, along with an introduction to some relevant mathematical notions such as concavity and super modularity. The expected outcomes: Having completed this module, students are acquainted with: Explain, construct and and apply the most common microeconomic methods of proof and analysis Analyse as well as critically reflect the scientific publications that employ these techniques. Student s guide 17

19 Develop, interpret and apply different variables by using different models, use these techniques with sufficient confidence and can independently apply them to their own scientific questions. Advanced Macroeconomics Content of the course Conveying knowledge of core models and techniques of theoretical macroeconomics as well as their empirical application. The course focuses on the use of recursive methods and dynamic programming for the construction and solution of macroeconomic models. Course s objectives The lectures will not be in the classical form of teaching, but in the form of student centred. The role of the professor will be as moderator and participant in the class. The teaching process is organized through lectures by applying interactive discussion. The course consists of assignments and case studies of actual situations dealing with concepts covered in class and engaging in meaningful and critical class discussion with the peers. The expected outcomes: Having completed this module, students will understand and will be able to: Identify, classify and point out the macroeconomic growth factors Differentiate, construct and interpret a different theoretical macroeconomic growth models 18 PhD program in Economics

20 Collect, classify and illustrate various macroeconomic variables and experiment different theoretical macroeconomic equilibrium models Analyse and illustrate the role of consumption and investments in generation of new jobs Classify, develop and propose different fiscal and monetary policies that accelerates economic growth Statistics and Econometrics Content of the course Teaching central theorems and proofs of advanced statistical theory. The course content is coordinated with the course Econometrics. Presentation of advanced methods of econometrics, In coordination with the Statistics, the following are taught: application of existing methods to economic questions, critical evaluation of methods, and the combination and/or adaption of individual procedures to solve concrete problems. Course s objectives The lectures will not be in the classical form of teaching, but in the form of student centred. The role of the professor will be as moderator and participant in the class. The teaching process is organized through lectures by applying interactive discussion. The course consists of assignments and case studies of actual situations dealing with concepts covered in class and engaging in meaningful and critical class discussion with the peers. The expected outcome Having completed this module, students are acquainted with the most common advanced statistical methods and can read as well as critically reflect on scientific publications that employ these Student s guide 19

21 methods as well as econometric methods and can critically reflect on scientific publications that employ these methods. They can use these methods with sufficient confidence and can independently apply them to their own scientific questions. Advanced Theory of International Trade Content of the course This is an advanced level course on international trade. The course will cover the following topics: Preliminaries: Two sector models; The Heckscher Ohlin Model; Many Goods and Factorsl; Trade in Intermediate Inputs and Wages; Increasing Returns and the Gravity Equation; Import Tariffs and Dumping; Import Quotas and Export Subsidies; Political Economy of Trade Policy; Trade and Endogenous Growth; Multinationals and Organization of the Firm; Descrete Choice Models. Course s objectives The goal in this class is to provide students with a thorough knowledge of modern trade theory. Starting from classical trade models, we will cover new trade theory based on increasing returns as well as trade policy questions, and introduce you to currently active research areas. This class is meant to enable students to start doing their your own research on topics in international trade, by concentrating on workhorse models of trade theory and giving students an overview of active research areas. 20 PhD program in Economics

22 The expected outcome Upon course completions students should be able to: - Point out the importance of international trade, and international trade organisations. - Define, recommend and grade different international trade models. - Evaluate and justify the impact of trade barriers in international market - Formulate the project reports and journal articles that make use of the concepts and methods that are introduced in the course - Asses and classify trade subsidiaries Formulate and propose different trade policies Applied Econometrics Content of the course This is an advanced level, Ph.D. course in Applied Econometrics. Topics to be studied include specification, estimation, and inference in the context of models that include then extend beyond the standard linear multiple regression framework. After a review of the linear model, we will develop the asymptotic distribution theory necessary for analysis of generalized linear and nonlinear models. Then we will turn to instrumental variables, maximum likelihood, generalized method of moments (GMM), and two step estimation methods. Inference techniques used in the linear regression framework such as t and F tests will be extended to include Wald, Lagrange multiplier and likelihood ratio and tests for nonnested hypotheses such as the Hausman specification test. Specific modelling frameworks will include the linear regression model and extensions to models for panel data, multiple equation models, and models for discrete choice Student s guide 21

23 Course s objectives This course aims to provide students with a range of important skills, which are of both academic and practical value, as they form an essential part of the intellectual training for an economist. These skills will be also very useful for a variety of other careers, as the analysis of data is central to many professions. In particular, the course aims to give students an awareness of the empirical approach to economics and the value that this can add to decision- making for consumers, firms and governments. By making use of econometric software packages, the course therefore aims to provide students with the tools they need to analyse data, correctly interpret results and understand the limitations of the data they have and the tests that are performed. The expected outcome By the end of this module, students should be able to: Appraise work in the area of applied economics. Summarize advance analysis and make use of empirical data in economics to solve a variety of problems. Make use of econometric software packages as tools of quantitative and statistical analysis to compute empirical results. Understand the assumptions behind the models that are used and the limitations of the results obtained. Understand the nature of uncertainty and the methods that can be used to deal with it. Develop a good intuitive and theoretical grasp of the dangers, pitfalls and problems encountered in undertaking applied modeling. Behavioral Econometrics Content of the course 22 PhD program in Economics

24 The first part of the course, on behavioral decision theory, studies models in which standard economic rationality assumptions are combined with psychologically plausible assumptions on behavior. It is considered whether the new models improve ability to predict and understand choice under uncertainty (and certainty), probabilistic judgment, and intertemporal choice. The second half, on behavioral game theory, studies how players model others decisions in initial responses to games; and how players learn to predict others decisions via learning in repeated play of analogous games. Course s objective This course is intended to allow students to become familiar with the literature in behavioral economics and political decision making. While this approach is based on the experimental data about human reasoning, students will be driven to test experimentally properties and assumptions on human decisions. The expected outcome Upon course completion, students should be able to: - Conduct their own research in the respective area of behavioral economics. - Prepare students to gain in-depth advanced understanding of the major aspects of behavioural decision-making under uncertainty, and applications to economics, politics and finance, as well as to Apply effectively the theories to ongoing debates, in order to raise their interest in carrying out research in this field. Student s guide 23

25 Economics of European Union Content of the course The course is an advanced level to the Economics of European Union. It is comprised of two parts. The first looks at the relevant microeconomic analysis for European integration trade and customs union theory, the integration of factor markets and economic growth and the second looks at the macroeconomic aspects of integration macroeconomic interdependencies, the theory of optimum currency areas and monetary and fiscal policy in a monetary union. Course s objectives The course has the following objectives: 1. The political-institutional viewpoint, with particular reference to the evolving political context, the progress of enlargement which has widened the membership of the EU from the original six members to the current 27 and the development of institutions embodying the different stages of integration; 2. The economic viewpoint, with particular reference to the benefits and costs of abating (both tariff and non-tariff) trade barriers, and to the role of the labor market; 3. The monetary and currency viewpoint, with particular reference to the benefits and costs of establishing a monetary union, the different stages of monetary integration, the strengths and weaknesses of institutions designed to implement the monetary union. 24 PhD program in Economics

26 The expected outcome Learning outcomes On completion of this module students should have acquired the following: Apply the advanced macro and micro principles to EU economic issues and problems. Identify, classify and define the key economic issues facing EU market economies and evaluate different possible policy responses; Assess the relevance of economic theory to an appraisal of economic problems, and expound possible solutions in an intelligible way. Develop and recommend simple mathematical, verbal and diagrammatic arguments in economics; Evaluate the EU-area economy to the extent of being able to assess critically and professionally media comment upon economic policy. Industrial Economics Conten of the course The course gives a deep insights about the Industrial organization that builds on the theory of the firm by examining the structure of (and, therefore, the boundaries between) firms and markets. Additionally, adds real-world complications to the perfectly competitive model, complications. It analyzes determinants of firm and market organization and behavior as between competition, monopoly including from government actions. Student s guide 25

27 Course s objectives This course aims to: - Provide students with the analytical skills required for understanding problems in industrial economics, including applications of game theory - Examine the key questions on the internal organization of firms - Analyze various aspects of strategic interaction between firms and the determinants of industrial structure Provide students with the ability to apply economic models of firm behaviour to analyse questions in business strategy, competition policy and regulation. The expected content At the end of the course students should be able to: Describe and explain the determinants of the size and structure of firms and the implications of the separation of ownership 26 PhD program in Economics

28 Develop specialized explanation regarding the pricing behavior by firms with market power and its welfare implications Conduct advanced application of analytical models of firm behavior and strategic interaction to evaluate various business practices Demonstrate substantial authority, innovation, autonomy, scholarly and professional integrity to recognize and explain the advanced determinants of market structure and the key issues in competition policy and regulation. Economics of Public Sector Content of the course This is and advanced course, which examines the role of the government as defined by economic theory in the creation of public policy. Under ideal market conditions, competition promotes economic efficiency, leaving little to no role for the government. Nevertheless, in many cases markets fail and government intervention may be necessary. The course will focus on concepts from micro and macroeconomics such as externalities, public goods, public education, income redistribution, welfare programs and tax policy to understand policy problems including issue from the local community. Course s objective The aim of the course is to analyze the impact of public policy on the allocation of resources and the distribution of income in the economy. In this course, students will learn how to interpret economic analyses and how to use the tools of microeconomics and empirical analysis to investigate and predict the effects of public expenditures, regulation and government revenue-raising activities. Student s guide 27

29 The expected outcome Upon course completion, students should know: Central concepts and models from the fields of public economics defined by the course topics Analytical approaches to the issues addressed Major actual policies and relevant examples of issues currently on the political agenda Skills Students should be able to: Explain the economic contents and trade-offs captured by the models Discuss the assumptions, relevance, and limitations of the models Identify and analyze policy problems in public economics Assess arguments appearing in the policy debate Competence Students should be able to: Read and understand reports and journal articles that make use of the concepts and methods that are introduced in the course Make use of the course content in applied exercises and their own academic work, for example in analyses that are part of the PhD s thesis 28 PhD program in Economics

30 Advanced Game Theory Content of the course This course is an advanced level to game theory and strategic thinking. Ideas such as dominance, backward induction, Nash equilibrium, evolutionary stability, commitment, credibility, asymmetric information, adverse selection, and signaling are discussed and applied to games played in class and to examples drawn from economics, politics, the movies, and elsewhere. Course s objectives Game theory is a way of thinking about strategic situations. One aim of the course is to teach students to some strategic considerations to take into account while making choices. A second aim is to predict how other people or organizations behave when they are in strategic settings. The new concepts, methods and terminology will be taught. A third aim is to apply these tools to settings from economics and from elsewhere. The course will emphasize examples. Several games in class will be played. The expected outcome Having completed this module, students are acquainted with the most common concepts of non-cooperative game theory and with the core concepts of cooperative game theory. Students can read as well as critically reflect on scientific publications that employ these concepts. They can use these concepts with sufficient confidence and can independently apply them to their own scientific questions. Student s guide 29

31 Market and Mechanism Design Content of the course This is a PhD level course on market and mechanism design. The aim of the course is to give PhD students a background in market design literature in conjunction with the theory of matching, exchange and allocation of discrete resources. Course s objectives The goal of the course is to prepare students to do cutting edge research, and solve industry and policy problems in market design. As such, more than 70% of the course covers recent papers and empirical work. This reflects view that many of the opportunities for high-impact research are in empirical work and investigating new markets. Because of the broad methodological scope of the field, the course takes a top-down perspective. Students will learn, in the context of applications, the main tools of auction theory, matching theory, and experimental economics. The expected outcome Upon course completion of the course students will get the most advanced and specialized skills and techniques, including synthesis and evaluation, required to solve critical problems in research related to Market and Mechanism Design. 30 PhD program in Economics

32 Financial Economics Content of the course This is an advanced level course related to modern financial analysis and their applications to business challenges in capital budgeting, project evaluation, corporate investment and financing decisions, and basic security analysis and investment management. Course s objectives It includes a critical discussion of the efficient markets theory, an overview of quantitative methods in finance, considers risk aversion in the context of utility theory, examines portfolio theory, the Capital Asset Pricing Model and multi-factor asset pricing models, covers bond pricing, duration and convexity, theories of the term structure of interest rates, the dividend discount and price-earnings models of share valuation, and introduces the top down approach to investment decisions. The emphasis is on a thorough coverage of modern finance theory as applied to investment analysis, balanced with a consideration of new developments in the discipline, and of the application of both old and new theoretical perspectives to understand the current environment for financial investment decisions. The expected outcome On successful completion of this course students will be able to: - Determine, differentiate and argue the efficient markets theory of financial markets and behavioral finance - Apply quantitative methods in finance - Summarize a risk aversion in the context of utility theory - Apply the theory of bond pricing, duration and convexity Experiment and apply portfolio theory, the Capital Asset Pricing Model and multi-factor asset pricing models Student s guide 31

33 Environmental Economics Content of the course Environmental Economics course is concentrated solely on environmental economics--the problems of earth, air, and water pollution from an economic perspective--with an emphasis on both government regulation and private-sector anti-pollution incentives. The course reaches into more detail on theory and analysis. Course s objectives This aim of the course is to provide students with advanced theoretical and empirical studies of the economic effects of national or local environmental policies around the world. Particular issues include the costs and benefits of alternative environmental policies that affects economical aspects. Further, the course will develop students skills and competence to critically reflect on scientific publications that employ these economic effects. They can use these methods with sufficient confidence and can independently apply them to their own scientific questions. The expected outcome By completing this course students will get the advanced knowledge and will be able to: - Formulate and apply different concepts from welfare economics and public economics to environmental policy issues, - Determine and propose the use of microeconomic theory to characterize the incentives faced by stakeholders in different regulatory regimes, - Experiment empirical analysis of environmental problems in line to benefit-cost analyses. 32 PhD program in Economics

34 - Analyze, formulate and point out a professional scientific statements and publications related to the international and local environmental economics. Business Management Content of the course The course includes approaches business operations from the entrepreneurial and management perspective. Finance, marketing, and human resources are some of the topics explored. An introductory chapter provides an overview of management, discusses the history of management, and compares management approaches and philosophies. An additional chapter focuses on data analysis and decision-making, demonstrating the importance of math, statistics, and quantitative decision-making. The course provides business management concepts and principles in a realistic, investigative, and enriching manner. All the functions of business management are covered extensively, including the use of technology and communication as tools of business. Course s objectives This is an advanced competency-based course trains students in business administration & management. This course will provide students with an understanding of the advanced theories and principles by which businesses are organized and managed in modern society. They will demonstrate competency by analyzing management functions, principles, and processes that contribute to the achievement of organizational goals. Student s guide 33

35 The expected outcome After taking this course, students should be able to: 1. Give advanced explanations related to the influence of personality, attitudes, perceptions, and attributions on organizational behavior. 2. Describe the motivational process and apply motivational theories to organizational scenarios. 3. Synthetize and evaluate group types, group development, group norms, and group decision-making techniques. 4. Identify tactics for handling stress, interpersonal communications, and conflict. 5. Have gained specialized skills to define characteristics, determinants, and methods of creating and sustaining organizational culture. 4. Analyze the impact that different cultural attitudes and values have on organizational behavior. 34 PhD program in Economics

36 PROJECT FACTS Short title: Project number: Contractor: Project webpage: MODPhD TEMPUS XK-TEMPUS-JPCR University of Prishtina Hasan Prishtina PROJECT CONSORTIUM Ministry of Education, Science and Technology of Kosovo K CIRT, Kosova Center for International Cooperation in Higher Education and Technology This project has been funded with the support from the European Commission. This publication reflects the views only of the author, and the Commission cannot be held responsible for any use which may be made of the information contained therein.