SPECIALIZATION: FINANCE
Finance specialization is created to enhance the valuation principles taught in the first year of study to solve complex issues in asset management faced by fund managers and risk management faced by finance managers. The specialization also teaches financial reporting methods on securities, continuing operations, M&A, discontinued operations, fair value measurement, and other areas.
Finance specialization of the MBA program for those who write dissertation lasts for 4 semesters within 2 academic years. The course requirement is 8 core courses (60 credits), 4 electives (30 credits) and a capstone project (30 credits), total 120 ECTS (European Credit Transfer System) credits.
Note 1: For those who do not write dissertation – 8 courses 60 credits) and 8 electives (60 credits), total 120 ECTS (European Credit Transfer System) credits.
Note 2: The dissertation is written on a voluntary basis and can be submitted to the PhD programs.
Courses are taught in fall, spring and summer semesters two times a week. University is located in Istiglaliyyat Street 6, AZ1001, Baku Azerbaijan.
Contacts: e-mail: [email protected], tel.: + (99412) 497 62 67
Baccalaureates having a minimum of 2 years of work experience with different backgrounds (economics, commerce, mathematics, engineering, medicine etc.) are eligible to join the MBA program. Eligible international students are accepted to the program based on a contract signed between both parties (university and potential student). Local students are required to pass a uniform state attestation exam before applying to the MBA program. All students are required to provide a proof of English language skills along with academic eligibility.
The MBA program seeks to improve students for their leadership skills, prepare them to master systematic knowledge, capabilities and management skills, enhance their professional competence, investigate complex business information, learn analytical thinking and decision-making skills, nourish student’s entrepreneurial mind, teach them business ethics, presentation and time management skills, This program prepares students to occupy top positions in organizations with different cultures. Case studies, presentations, time management skills, group/individual projects, and business games along with theoretical approach complement a rigorous MBA program in the Azerbaijan State University of Economics. The program also aims at teaching students with change management skills peculiar to non-government, not-for-profit and commercial organizations along with proactive thinking style to project scenarios in regulatory environments. Students will be graded through midterm, class attendance, participation, home works, and final examinations.
Along with full time faculty members of the Azerbaijan State University of Economics (UNEC) the MBA program benefits from scientific and practical potential of professors and lecturers with top academic and managerial background whether in public, government, or private. The program also invites academicians from high ranked universities around the globe and takes advantage of their scientific knowledge and practical potential.
Magistrates who maintain excellent, good, or satisfactory academic standing throughout and graduate from the MBA program of UNEC receive their MBA degree with all the rights and privileges related to this degree.
FINANCE COURSES:
FIRST SEMESTER:
This subject teaches future managers how to be effective leaders in an enterprise. As future leaders, students acquire necessary leadership and management skills for how to make decisions and allocate resources in everyday life.
Here teams, individuals and networks are investigated in the context of:
- Determinants of group culture;
- Managing of the subordinate activity of individuals;
- Establishing productive relationships with peers and seniors who are outside the official authority of the manager.
A look at the activities of successful leaders:
- Establish a vision of the future;
- Develop vision-based organization;
- Encourage and reward employees to achieve the vision;
- Develop effective organizations to achieve superior performance in business;
- Present strategic career management.
The main aim of the course is to understand the concepts and methods of microeconomics which will help students to make optimal managerial decisions.
The topics of this course are: supply and demand, empirical methods for demand analysis, consumer choice, production, costs, firm organization and market structure, competitive firms and markets, monopoly, pricing with market power, oligopoly and monopolistic competition, game theory and business strategy, strategies over time, managerial decision making under uncertainty, asymmetric information, government and business, global business.
After successfully completing the course, students will be prepared to use supply and demand analysis to predict the likely impacts of events on markets for goods and services, understand the role of prices in the markets, calculate various elasticities, understand the different costs of production, calculate the equilibrium conditions for cost minimization or profit maximization, understand economies of scope and economies of scale, understand and explain different pricing strategies that arise from market power, and use game theory to describe possible firm behavior in an oligopolistic industry.
The aim of the course is to develop competency and the ability to use statistical techniques in conducting business research and project work. The emphasis of the course is more on interpretation of results and understanding of the strengths and limitations of different statistical measures in business area.
The topics of this course are: introduction to statistics, frequency distributions, central tendency measures, variability measures, z scores, probability distributions, sampling, hypothesis testing, t statistic, correlations, one-sample tests of hypothesis, two-sample tests of hypothesis, regression, chi-square, using software package (Excel, Tableau, Eviews) for analyzing, research project.
After successfully completing the course, students will:
- Identify basic statistical applications for business research;
- Explain how to implement quantitative/qualitative approaches to business research;
- Identify types of statistical methods and strategies, and select data collection and analysis approaches for different research interests;
- Integrate fundamental statistical theories and concepts with functions of various statistic programs in the context of an analysis project’s overall design.
This course provides the underlying principles and concepts of financial accounting, accounting techniques and the preparation of basic financial statements. The main goal of this course is for students to obtain the ability to demonstrate technical proficiency in the use of double-entry techniques, including the preparation and interpretation of basic financial statements for sole traders, partnerships, companies and simple groups of companies.
On the successful completion of this course students will learn about:
- The frameworks of accounting regulation;
- Context and purpose of financial reporting;
- Qualitative characteristics of financial information;
- Double-entry and accounting systems;
- Recording transactions and events;
- Accounting issues related to depreciation, goodwill, intangible assets, equity, debt etc.;
- Preparing a trial balance (including identifying and correcting errors);
- Preparing basic financial statements for incorporated and unincorporated entities;
- Preparing simple consolidated financial statements;
- Interpreting financial statements.
SECOND SEMESTER:
The goal of this course is to give students the tools they need to develop their strategy-making abilities.
- this course covers the following topics:
- Concepts and techniques for crafting and executing strategy;
- Charting a company’s direction;
- Evaluating a company’s external environment;
- Evaluating a company’s resources, capabilities, and competitiveness;
- The five generic competitive strategies;
- Strengthening a company’s competitive position;
- Strategies for competing in international markets;
- Corporate strategy;
- Ethics, corporate social responsibility, environmental sustainability, and strategy;
- Building an organization capable of good strategy;
- Managing internal operations;
- Corporate culture and leadership.
Students’ will learn:
- The business environment in which a company operates and how to maintain competitive advantage;
- How to create the best possible product mix and functional activities in order to provide clients with higher value;
- How to strike a balance between the chances and dangers brought on by erratic and dynamic changes in the competitiveness of an industry;
- Gain expertise over a variety of analytical techniques and the capacity to adopt an integrated point of view;
- Use these tools to do in-depth research on markets and rivals, forecast competitor behavior, and examine how businesses create and maintain competitive advantage over time;
- Competitive positioning, analyzing comparative costs, and managing problems like cannibalization, network externalities, and globalization are all given special consideration.
This course focuses on the developing the analytical skills for making corporate investment with regards to financial decisions and risk analysis. Key concepts and applications include: time value of money, the concept of present value, discounted cash flow analysis, risk-return tradeoff, cost of capital, capital asset pricing model (CAPM), investment and financial decisions in the international context, including exchange rate/interest rate risk analysis, and issues of corporate governance and control, retirement savings, mortgage financing, capital budgeting, dividend policy, asset valuation, discounted cash flow (DCF) analysis, net present value, internal rate of return, payback period.
By the end of this course, you should be able to:
- Evaluate corporate projects and make decisions based on financial data considering the time value of money concepts and the risk and return;
- Analyze a firm’s financial statements and value the firm;
- Understand how investment and financing decisions impact the value of a firm;
- Evaluate risk and return;
- Analyze and interpret financial data by calculating financial ratios;
- Develop complex spreadsheet models in Excel.
This subject explores the role and importance of marketing in the company and other organizations, embraces marketing plans/strategies, marketing research, market segmentation, retailing, advertising, pricing, internet marketing and how to build effective marketing.
The main objective of this course is to improve students’ skills:
- Assess market opportunities by customers, competitors, collaborators and the strengths and weaknesses of a company;
- Develop effective marketing strategies to achieve organizational objectives;
- Design a strategy implementation program to maximize its chance of success;
- Critically examine, justify and defend students’ ideas and build upon recommendations in quantitative and qualitative manner;
- Assist in a better appreciation and understanding of the role of marketing in a business organization specifically, and in our society at large;
- Enhance your knowledge of marketing theories, principles, strategies and concepts and provide opportunities to apply them to real marketing situations;
- Provide opportunities to analyze marketing activity within the company;
- Make marketing decisions in the context of general management;
- Control the elements of the marketing—product policy, channels of distribution, communication, and pricing – to satisfy customer needs profitably.
Marketing management is relevant to majors in all functional areas of business. While marketing managers develop and implement marketing strategy, managers in other functional areas (finance, management, accounting, and operations) need to comprehend how marketing strategies impact operations.
Entrepreneurial ventures and startups rarely succeed without a great marketing strategy. Without comprehending the sources of income, it is impossible to value a firm and its stocks and bonds, plan its financing needs, or define its credit rating. Chiefly the revenues from the customers are a direct consequence of the firm’s marketing strategy.
This course teaches students to develop the skills and concepts needed to guarantee the ongoing contribution of a firm’s operations to its competitive position. It promotes them to understand the complex processes underlying the development and manufacture of products as well as the creation and delivery of services.
This course covers the following topics:
- Operations and productivity;
- Process analysis;
- Cross-functional and cross-firm integration;
- Product development;
- Project management;
- Forecasting;
- Design of Goods and Services;
- Managing Quality
- Supply Chain Management Analytics;
- Demand management;
- Information technology;
- Technology and operations strategy and etc.
THIRD/FORTH SEMESTER:
In this course students will develop the knowledge and skills expected of a finance manager, in relation to investment, financing and dividend policy decisions. The syllabus for Financial Management is designed to equip candidates with the skills that would be expected from a finance manager responsible for the finance function of a business. The syllabus of the course, therefore, starts by introducing the role and purpose of the financial management function within a business. Before looking at the three key financial management decisions of investing, financing, and dividend policy, the syllabus explores the economic environment in which such decisions are made.
The next section of the syllabus is the introduction of investing decisions. This is done in two stages – investment in (and the management of) working capital and the appraisal of long-term investments.
The next area introduced is financing decisions. This section of the syllabus starts by examining the various sources of business finance, including dividend policy and how much finance can be raised from within the business. It also looks at the cost of capital and other factors that influence the choice of the type of capital a business will raise. The principles underlying the valuation of business and financial assets, including the impact of cost of capital on the value of business, is covered next. The syllabus finishes with an introduction to the risk and the main techniques employed in managing such risk.
On successful completion of this exam, candidates should be able to:
- Discuss the role and purpose of the financial management function
- Assess and discuss the impact of the economic environment on financial management
- Discuss and apply working capital management techniques
- Carry out effective investment appraisal
- Identify and evaluate alternative sources of business finance
- Discuss and apply principles of business and asset valuations
- Explain and apply risk management techniques in business.
This course introduces the students to the business concepts and methods used to report managerial performance information to internal users and managers in order to assist them in making sound business decisions in managing the firm. Students will learn different ways of managing finance within an organization with the aim of enhancing business performance. The main areas of management accounting are: costing, planning, decision making, control and performance evaluation.
On successful completion of this course, students should be able to:
- Explain the nature, source and purpose of management information;
- Conduct cost accounting by identifying the cost of producing an item in order to, for example, assist in deciding on a selling price;
- Explain and apply cost accounting techniques such as activity based costing, target costing, life cycle costing, throughput accounting etc.;
- Prepare budgets for planning and control;
- Compare actual costs with standard costs and analyze any variances;
- Compare the performance of managers or departments against budgets or targets.
The main goal of this course is to teach students the concept of legal regulation of business and to develop their existing knowledge in this field. Overall, the course teaches students the basics of legal theory, law of obligations, labor, and corporate law; and instils the skills in working with contracts, comparing the financing of different types of companies, and establishing, managing and liquidating companies.
During the course, students will listen to lectures, participate in team work, make audio-visual presentations, be evaluated according to their activities and take an exam. As a result, the course will provide students with theoretical and practical knowledge, develop their critical thinking skills and prepare them as professionals ready to apply the knowledge they learn. Also, at the end, students will be able to successfully pass the ACCA BL “Corporate and Business Law” exam.
Financial reporting is a demanding ACCA paper covering all the fundamentals of financial reporting. Before starting this course you should already be familiar with financial accounting course in the part of accounting for inventories, non-current assets and preparing simple statements of profit or loss, statements of financial position and statements of cash flows. You should also know the basic ratios. This course takes your financial reporting knowledge and skills up to the next level. New topics are consolidated financial statements, long-term contracts, biological assets, financial instruments and leases. Students will develop knowledge and skills in understanding and applying international financial reporting standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyze and interpret those financial statements.
On successful completion of this paper students should be able to:
- Be aware of the conceptual framework and the regulatory framework of accounting and financial reporting;
- Prepare financial statements which conform with IFRS;
- Prepare consolidated financial statements;
- Analyze and interpret financial data by calculating financial ratios.
This course aims to develop a clear understanding the knowledge and skills expected of a portfolio manager, in relation to the process of portfolio management, establishing objectives, industry and company analysis, constructing and managing a portfolio, measuring and evaluating risks, returns and portfolio performance.
Investments and portfolio management is designed to provide students with the investment management tools necessary to know how financial markets price assets and different financial instruments. The focus is on understanding the role of portfolio manager within an organizational context and developing a broad range of financial-investment analysis skills.
In each of the topics in this course, the focus is on the application of numerical investment management and analysis techniques, but students are also expected to interpret their results and discuss non-financial issues that might impact on the investment decision.
This course is intended to help you understand the role of securites and financial markets in global business environment that you can face in the future. It also helps you to develop a series of applications of principles from finance and economics that explore the connection between financial markets, financial institutions and the economy. On the financial markets side, we will learn the term structure of interest rates, bonds, stocks, principals of derivatives, and currencies. On the institutions side, we will learn commercial banks, investment banks, mutual funds, the Federal Reserve Systems and their role in the economy.
On successful completion of this course, students will learn about:
- Asset classes and financial instruments;
- Trading with securities;
- Mutual funds and other investment companies;
- Fixed income securities: defining elements;
- Fixed income markets, fixed income valuation;
- Asset backed securities;
- Understanding fixed income risk and return;
- Security analysis and equity valuation exchange rates;
- Valuation of futures and options;
- Derivative markets, derivative pricing and valuation;
- Alternative investments.
This course introduces the student to the internal and external audit as a way of examination or inspection of various books of accounts by an auditor followed by physical checking of company’s resources to make sure that all departments are following documented system of recording transactions. It is done to ascertain the accuracy of financial statements provided by the organization.
The course first introduces governance and professional ethics relating to audit and assurance. It then leads into planning the audit and performing risk assessment. The course then covers evaluating internal controls, audit evidence, and a review of the financial statements. In addition to final review procedures, the final section concentrates on reporting, including the form and content of the auditor’s report.
On successful completion of the course, students should be able to:
- Explain the concept of audit and assurance and the functions of audit, including auditor’s ethics and professional conduct;
- Define the auditor’s role and the terms of engagement which is usually in the form of a letter which is duly signed by the client;
- Plan the audit which would include details of deadlines and the departments the auditor would cover;
- Assess the risk of material misstatement (whether arising from fraud or other irregularities) and plan an audit of financial statements;
- Identify, if the work and evidence obtained by the auditor meets the objectives of audit engagements(audit yoxlamasi) and the application of the International Standards on Auditing (ISAs);
- Provide reporting the results in the form of auditor’s report, as the last and most important element of an audit.
The course aims at enabling students having a solid understanding in the context of international finance. It also includes the analysis of different and wide range of issues in the field including the crucial role of international finance for a multinational corporation (MNC). Among the crucial topics covered in the course are national income accounting, balance of payments, exchange rates, interest rates, money supply and demand, inflation rate and exchange rate dynamics.
Aggregate demand, output and asset market equilibriums, macroeconomic policies and the current account and topics related to trade policies are further addressed during the course. Students are also expected to be provided with the skills required for, international investment management, cross-border acquisitions, international capital budgeting, and multinational cash management and trade financing.
On successful completion of the course, students will learn:
- National income accounting and the balance of payments;
- Exchange Rates and the Foreign Exchange Market;
- Money, Interest Rates, and Exchange Rates;
- Price Level and the Exchange Rate in the Long Run;
- Output and the Exchange Rate in the Short Run;
- Financial Globalization: Opportunity and Crisis;
- Developing Countries: Growth, Crisis, and Reform;
- Labor Productivity and Comparative Advantage;
- Trade Policy in Developing Countries and etc.
This course covers advanced theoretical and applied treatment of major issues in Corporate Finance.
The first part of the course is an in-depth exploration of advanced theories used to understand financial markets in the context of corporate borrowing and lending. Implicitly, we will discuss financing frictions that differentiate the functioning of perfect capital markets with imperfect capital markets. We then build on these theories to understand security design and the process of security issuance in equity markets. Next, we consider the role of corporate control, and the interaction of control rights and cash flow rights. Finally, we evaluate corporate risk management and hedging.
The second part of the course will focus on the real-world applications of corporate finance tools to address issues commonly faced by corporate managers, investors, and entrepreneurs. We will focus on a particular issue facing practitioners. Specifically, we will explore individual case studies of problems such as capital budgeting, the design of optimal capital structures, and the valuations of start-ups, mergers, and private equity buyouts. We will also discuss the relevance of these tools for careers in finance, consulting, and other sectors.
By the end of the course, students will be comfortable working with:
- Advanced theoretical models of corporate finance;
- Be able to apply these tools to perform corporate valuations;
- Prepare capital budgets;
- Determine optimal capital structures.
Digital finance is the term used to describe the impact of new technologies on the financial services industry. It includes a variety of products, applications, processes and business models that have transformed the traditional way of providing banking and financial services.
While technological innovation in finance is not new, investment in new technologies has substantially increased in recent years and the pace of innovation is exponential. We now interact with our bank using mobile technology. We make payments, transfer money and make investments using a variety of new tools that were not there few years ago. Artificial intelligence, social networks, machine learning, mobile applications, distributed ledger technology, cloud computing and big data analytics have given rise to new services and business models by established financial institutions and new market entrants.
All these technologies can benefit both consumers and companies by enabling greater access to financial services, offering wider choice and increasing efficiency of operations. They can also contribute to bringing down national barriers and spurring competition in areas such as:
- Online banking, online payment and transfer services;
- Peer-to-peer lending;
- Personal investment advice and services;
- Demonstrate up-to date, applicable knowledge regarding the impact and implications of the changing regulatory landscape on financial markets, instruments and institutions;
- Demonstrate up-to date, applicable knowledge on the fundamental technological concepts regarding digital transformation in Finance, such as blockchains, smart contracts, cryptography, (truly) distributed architectures and systems engineering.
By now, many of us are aware of different fintech initiatives. Many of them adapt to, and co-exist with the financial sector and its traditional infrastructure. Digitalized routines of societal and economic interactions drive the development of advanced analytics. Adding to it all, the blockchain technology offers the opportunity to rethink systematically the way we design, use, and embrace financial services. The Digital Transformation in Finance study track offers you an inter-disciplinary learning environment, if you are curious to learn about the challenges of the future of Finance, and if you are interested in seeking for technology-intensive alternatives to the problems that characterise the traditional financial infrastructure.
Upon successful completion of the course, you shall be able to:
- Demonstrate in-depth knowledge of contemporary, state-of the art academic knowledge regarding digital transformation in Finance, including among others theoretical representations of, and empirical findings related to blockchains and their financial applications;
- Demonstrate up-to date, applicable knowledge regarding the impact and implications of the changing regulatory landscape on financial markets, instruments and institutions;
- Demonstrate up-to date, applicable knowledge regarding the impact and implications of digitisation on households, including among others the effect of digitisation on financial inclusion, on debt management and on retirement planning;
- Demonstrate up-to date, applicable knowledge on the fundamental technological concepts regarding digital transformation in Finance, such as blockchains, smart contracts, cryptography, (truly) distributed architectures and systems engineering.
Green Finance is a broad term that refers to financial investments flowing into sustainable environmental projects and initiatives. This course focuces on the main green investment targets such as climate change, financing of industrial pollution control, water sanitation, biodiversity protection, financial flows to the projects and programs that contribute to reducing and avoiding greenhouse gas emissions (GHGs). For the banking sector, green finance is defined as financial products and services throughout the lending decision making, ex-post monitoring and risk managament processes, provided to promote environmentally responsible investments and stimulate low-carbon technologies, projects, industries and businesses. Throughout the course, students will be provided with combination of formal lectures, practicals, seminars, in-class activities and guest lectures from external organizations, including environmental organizations, provide a view of the current state of enviromental economics and green finance management.
On successful completion of this course, students will learn about:
- The role of public -private partnerships and green investment banks in boosting low-carbon investments;
- A “cap and invest” strategy for managing the intergenerational burdens of financing energy transitions;
- Managing of carbon pricing to promote green energy projects;
- The role of Central Bank in climate change and green finance;
- Differences between green bonds versus conventional bonds;
- Financial strategies to accelerate green growth;
- To discuss opportunities, challenges, and enabling conditions for countries to benefit from growing sustainable investment opportunities;
- To identify opportunities for the public and private sectors to issue green bonds and green loans.
The main goal of this course is to enable students to gain deep understanding of the concepts of corporate governance, professional ethics and corporate social responsibility, and to develop the basic knowledge and skills required in the modern business environment. The course is designed to provide students with knowledge of the economic, financial, managerial and environmental implications of ethical behavior in a business environment.
The content of the course includes an analysis of the social and environmental responsibilities of business to various stakeholders, including employees, customers, community, environment, shareholders and the state, current corporate governance models and principles, legal regulatory rules and norms related to corporate governance issues.
Applying case analysis, role-plays, simulations, discussions and other interactive learning methods in studing moral and ethical issues and dilemmas, equality, the principle of justice and controversial ethical issues in the modern corporate governance environment helps to develop students’ ability to analyze problems and come out with comprehensive decisions.
This course addresses the issues faced by managers who wish to turn opportunity into viable organizations that create value, and empowers students to develop their own approaches, guidelines, and skills for being entrepreneurial managers.
The course teaches students how to:
- Identify potentially valuable opportunities;
- Obtain the resources necessary to pursue an opportunity and to create an entrepreneurial organization;
- Manage the entrepreneurial organization once it has been established;
- Grow the business into a sustainable enterprise;
- Create and harvest value for the organization’s stakeholders.
This course enables new approaches to improve efficiency and efficacy of business models, advantages and components and the role of of an Information System, IT management practices (e.g., intelligent supply chain management, IT in business process management, etc.), data analyses in Microsoft Excel and Access, Enterprise resource planning in SAP. (System Analysis Program).
The objective of the course provides students integrate their learning from functional areas, decision making process in an organization and role of Information Systems to have a vintage point in this competitive world.
This course helps students with an overview of the utilization of business application software and problem-solving using that software.
This course includes the following topics:
- Information systems in global business today;
- Global e-business and collaboration;
- Information systems, organizations, and strategy;
- Ethical and social issues in information systems;
- IT infrastructure and emerging technologies;
- Foundations of business intelligence: databases and information management;
- Telecommunications, the internet, and wireless technology
- Securing information systems;
- Achieving operational excellence and customer intimacy: enterprise applications;
- E-commerce: digital markets, digital goods;
- Managing knowledge and artificial intelligence;
- Enhancing decision making;
- Building information systems.
- Managing projects;
- Managing global systems.
The aim of this course consists of theoretical knowledge and practical skills providing the ability to develop managerial decisions based on the application of various methods in the international environment as well as studying the process of making economic and managerial decisions, analyzing situations requiring decisions, studying simple and complex decision-making methods, the usage of essential quantitative/qualitative methods and tools for effective decision making.
Students will learn:
- Identifying problem relevant literature based on critical approach;
- Choosing research approaches and strategies ;
- Ethics in business research;
- Choosing samples from population;
- Quantitative research methods: collecting and analyzing quantitative data;
- Qualitative research methods: collecting and analysing qualitative data;
- Practical issues in conducting interviews, focus groups, participant observation;
- Forecasting trends on the basis of optimization models, simulation and group decision techniques;
- Presenting research reports.
Thesis work (Capstone) – Topics related to Finance
Business administration
Business organization and administration (on finance)
Business organization and administration ( on international business)
Business organization and administration ( on marketing)
Business organization and administration (on securities)
Business organization and administration (general purpose)
Business organization and administration (human resource management)
Business organization and administration (on management)
Business organization and administration (on accounting)
Business organization and administration (banking and insurance administration)
Business organization and administration (on health management)
Business organization and administration (on sports management)
Business organization and administration (on engineering and management risks)
Business organization and administration (tourism and hospitality management)
Business organization and administration (on project management)
Business organization and administration (on social media marketing)
Business organization and administration (on business and data analytics)
Business organization and administration (on risk management)
Business organization and administration (on business and data analytics)
Business organization and administration (on risk management)
Business organization and administration (management of international logistics and supply chain management)
Business organization and administration (on business and data analytics)
Business organization and administration (on risk management)
Business organization and administration (on international logistics and supply chain management)
SPECIALIZATION: BUSINESS ORGANIZATION AND ADMINISTRATION (on higher education management)
Higher Education Management specialization examines to explore the systems and policies of higher education; to learn and apply effective leadership and management skills and strategies to facilitate positive social change; to research institutions of higher education from a systemic, organizational perspective; to study how politics, and policies impact institutional effectiveness, student learning and development, and the organization’s overall development and impact; to develop the leadership skills required to address the needs of a dynamic higher education landscape, domestically and internationally.
Higher education management specialization of the MBA program for those who write dissertation lasts for 4 semesters within 2 academic years. The course requirement is 8 core courses (60 credits), 4 electives (30 credits) and a capstone project (30 credits), total 120 ECTS (European Credit Transfer System) credits.
Note 1: For those who do not write dissertation – 8 courses 60 credits) and 8 electives (60 credits), total 120 ECTS (European Credit Transfer System) credits.
Note 2: The dissertation is written on a voluntary basis and can be submitted to the PhD programs.
Courses are taught in fall, spring and summer semesters two times a week. University is located in Istiglaliyyat Street 6, AZ1001, Baku Azerbaijan.
Contacts: e-mail: [email protected]; tel.: + (99412) 497 62 67
Baccalaureates having a minimum of 2 years of work experience with different backgrounds (economics, commerce, mathematics, engineering, medicine etc.) are eligible to join the MBA program. Eligible international students are accepted to the program based on a contract signed between both parties (university and potential student). Local students are required to pass a uniform state attestation exam before applying to the MBA program. All students are required to provide a proof of English language skills along with academic eligibility.
The MBA program seeks to improve students for their leadership skills, prepare them to master systematic knowledge, capabilities and management skills, enhance their professional competence, investigate complex business information, learn analytical thinking and decision-making skills, nourish student’s entrepreneurial mind, teach them business ethics, presentation and time management skills. This program prepares students to occupy top positions in organizations with different cultures. Case studies, presentations, time management skills, group/individual projects, and business games along with theoretical approach complement a rigorous MBA program in the Azerbaijan State University of Economics. The program also aims at teaching students with change management skills peculiar to non-government, not-for-profit and commercial organizations along with proactive thinking style to project scenarios in regulatory environments. Students will be graded through midterm, class attendance, participation, home works, and final examinations.
Lecturers/Professors of the MBA Program:
Magistrates who maintain excellent, good, or satisfactory academic standing throughout and graduate from the MBA program of UNEC receive their MBA degree with all the rights and privileges related to this degree.
Along with full time faculty members of the Azerbaijan State University of Economics (UNEC) the MBA program benefits from scientific and practical potential of professors and lecturers with top academic and managerial background whether in public, government, or private. The program also invites academicians from high ranked universities around the globe and takes advantage of their scientific knowledge and practical potential.
HIGHER EDUCATION MANAGEMENT COURSES:
FIRST SEMESTER:
This course intends to exercise leadership abilities of students that will create the proper environment in where people can work together to encounter challenges and value opportunities into remarkable success. İt will be about organizational behaviors which leader will employ to transform values into actions, visions into realities, barriers into innovations. This course provides a practical guide for improving leadership abilities that is based on quantitative and qualitative research. The course will show the relationship between leadership and management, how make decisions and allocate resources on a daily basis.
On successful completion of this paper candidates should be able to:
- Know their environment, university and department;
- Know the new higher education landscape;
- Avoid cognitive bias and developing a flexible mindset;
- Plan strategically and according to Teaching Excellence Framework (TEF);
- Review course portfolios and subject areas;
- Improve student outcomes and staff experience;
- Assess and mitigate risk;
- Wide participation and social mobility.
The central aim of the course is to assist students in viewing the education “industry” and its educational processes through the perspective of economics. Several economic analysis tools are used to address the relationship between higher education and economic growth, consumption, investment, employment, and capital. In addition, students will study about a number of areas related to higher education policy, including economic and non-economic benefits of higher education, theories of cost growth, economic impact of higher education, production functions of higher education, theories of organizational behavior in higher education, economic and non-economic aspects of internationalization of higher education, the economic benefits, the role of higher education in national skills training systems, commercialization of higher education, higher education in the era of knowledge economy, the role of higher education in promoting innovation ecosystems.
On successful completion of this paper candidates should be able to:
- Define costs and benefits of student investment in higher education with a five-stage model of college choice process;
- Master private and social returns to higher education;
- Determine demand and supply in higher education;
- Describe the role of government in higher education;
- Analyze higher education revenues and expenditures;
- Determine competitivness of higher education institutions;
- Evaluate the link between labor market and higher education institutions;
- Describe the importance of education for sustainable development in higher education;
- Analyze social impact of higher education economics.
This course introduces strategic planning and budgeting within the organization and administration of higher education providing effective strategies for students as current change-oriented leaders. Both practical and effective guidance on details and complexities of the institutional structure are given, such as functional activities and contingency planning. the aim of this course is to assist higher education administrators in leading their institutions to excellence.
On successful completion of this paper candidates should be able to:
- Understand the range of postsecondary institutions and programs;
- Define key leadership positions and performance expectations;
- Determine the role of internal governance, committees, and advisory groups;
- Manage human resources in universities effectively;
- Understand student governance and involvement in institutional leadership;
- Manage resources effectively and efficiently;
- Set innovative strategic planning for the institution;
- Comprehend the nature and role of budget processes;
- Manage academic program resources;
- Overview accreditation;
- Understand issues that shape higher education;
- İdentify purpose, value and unintended consequences of social media in higher education;
- Develop strategic plan for crisis management.
This course provides the underlying principles and concepts of financial accounting, accounting techniques and the preparation of basic financial statements. The main goal of this course is for students to obtain the ability to demonstrate technical proficiency in the use of double-entry techniques, including the preparation and interpretation of basic financial statements for sole traders, partnerships, companies and simple groups of companies.
On the successful completion of this course students will learn about:
- The frameworks of accounting regulation;
- Context and purpose of financial reporting;
- Qualitative characteristics of financial information;
- Double-entry and accounting systems;
- Recording transactions and events;
- Accounting issues related to depreciation, goodwill, intangible assets, equity, debt etc.;
- Preparing a trial balance (including identifying and correcting errors);
- Preparing basic financial statements for incorporated and unincorporated entities;
- Preparing simple consolidated financial statements;
- Interpreting financial statements.
SECOND SEMESTER:
This course introduces students applied terminology, analytical perspectives, and methodological advances from the fields of measurement, assessment, and evaluation to facilitate informed decision making. By knowing the methods and processes by which evidence collected and analyzed future decision makers will engage in more professional judgement.
On successful completion of this paper candidates should be able to:
- Organize classroom-level assessment and student learning outcomes assessment at the program and institutional levels;
- Define perennial challenges of accountability and overcome them;
- Use national, regional, and local data for administrative decision-making;
- Determine benchmarking in higher education;
- Apply theories and technical aspects of educational measurement in proper settings;
- Construct and develop test;
- Create test and assessments for decision-making;
- Use different approaches to evaluation in higher education.
This course provides insights of emerging research and practice at dynamic intersection of the fields, such as individuals, organizations, industries, regions, and nations are involving creativity and invention to students to achieve and sustain growth. It introduces conceptual profile of the series Innovation, Technology, and Knowledge Management.
On successful completion of this paper candidates should be able to:
- Meet entrepreneurial development needs of higher education institutions;
- Embed in the economic and social system;
- Master managing and positioning of a private business school;
- Master strategic management for growing business schools;
- Change curriculum: The Influence of global and local pressures on the ‘new’ challenge;
- Master globalization, regional development, and the evolving local university role.
This course focused on developing students’ abilities to market university programs in order set their university brand. By combining theoretical and methodological aspects of branding with the views in different contexts and across range of higher institutions students will develop abilities, such as managing their own brands.
On successful completion of this paper candidates should be able to:
- Create brand identity;
- Organize culture in higher education branding: Branding the core values and beliefs;
- Brand leadership and brand support: Influencing employees through internal branding;
- Compete in higher education;
- Corporate brand communication and design;
- Measure higher education brand performance and brand impact;
- Build a trustworthy university brand: An inside-out approach;
- Scale development in higher education: University corporate brand image, student satisfaction and student behavioral intention;
- Evaluate branding scales in higher education.
This subject intends to develop students’ knowledge and skills as future curriculum leaders and provide a set of conceptual tools; to provide a practical, theoretically sound, evidence-informed approach to developing, implementing, evaluating, and continually improving educational experiences in the business administration. This course is designed for students who will be future curriculum developers and who will be responsible for the educational experiences of business professional students in the future.
On successful completion of this paper candidates should be able to:
- Understand nature of curriculum;
- Master curriculum theory and policy;
- Plan curriculum, improve the program studies and field of study;
- Master processes for developing new courses and units;
- Manage, develop and implement curriculum;
- Respond to current and future business needs of society in the curriculum;
- Mitigate costs of education and training;
- Aim to improve the business ability of the local community, including underserved populations by addressing the issue in curriculum;
- Train the number of business administrators to meet societal needs by addressing the issue in curriculum;
- Practice student-centered approach;
- Effectively use technology and information effectively to assist in accomplishing all the above ;
- Construct educational interventions based on the best evidence available;
- Enhance interdisciplinary education;
- Effectively integrate advancing technologies into business professional curricula, such as simulation, virtual reality, and interactive electronic interfaces;
THIRD/FORTH SEMESTER:
This course provides an understanding of the integration of economics, innovation and higher education related to internationalization and competitiveness to students in order to identify basic problems.
On successful completion of this paper candidates should be able to:
- To measure internationalization of higher education;
- Determine social impacts of university research;
- Master productivity versus creativity;
- Define stagnation and emerging Market Economies;
- Master data-intensive computing and future of research;
- Explore network behavior using cluster analysis.
This course introduces a new approach to future managers how to support the number of new students they enrolled as demand decreased. It not only focuses on the number of new students enrolled, but also retention and graduation rates, creating direct ties between institutions’ academic and enrollment management efforts. It develops students’ abilities to demonstrate that they are using research and data to make the best decisions for their institutions.
On successful completion of this paper candidates should be able to:
- Set the context to be successful in strategic enrollment management organizations;
- Understand student college choice, markets and market niches, admission and recruitment marketing;
- Make proper admission decisions;
- Master financial aid and its effects on student enrollments and institutional finance;
- Determine budgets, aid and enrollments;
- Deliver effective admission operations;
- Think strategically in enrollment organizations;
- Plan strategic enrollment.
This course introduces research methods and methodology in higher education in order to develop students’ statistical and empirical abilities to be professionals in their fields.
On successful completion of this paper candidates should be able to:
- Master research objectives and process;
- Formulate research problem;
- Design appropriate research;
- Collect data;
- Recognize different sample surveys;
- Understand experimental design;
- Master models and modelling;
- Analyze data;
- Work with multivariate analysis;
- Validate and communicate research findings.
This course intends to bridge the gap between theory and practice and students’ academic and experiential learning. In the internship, students will involve in self-assessment of strengths, weaknesses, areas of particular interest and will assume responsibility for their professional development by planning. This course is a successful internship program for students who wish to do work experience in universities, and materials are obtained from a variety of sources.
On successful completion of this paper candidates should be able to:
- To experience the realities of educational administration by applying classroom knowledge to administrative situations;
- To obtain practical experience in applying administrative skills, techniques, and theory by working with a professional administrator;
- To obtain additional experience and confidence in his/her professional abilities;
- To provide authentic administrative assistance in the work setting;
- To introducing the intern to modern workplace equipment and actual workplace problems;
- To give young people access to experiences that require more knowledge and skills than ordinary “student jobs.”;
- To give educators and employers the chance to work together in preparing students for success in the workplace;
- To help educators connect the classroom to the modern workplace;
- To help students understand the importance of their classroom instruction;
- To provide on-the-job experience to list on the student’s resume;
- To give students the opportunity to have a real-world experience in a career field in which they have an interest;
- To allow employers to build alliances with local schools. Together, employers and educators can deliver a powerful message regarding the importance of education.
This course focuses on the concepts of ethics and culturally competent practices from the perspectives of higher education professionals in different roles; extends beyond traditional and narrow concepts of academic integrity to broader interpretations of applied ethics in education, including corruption and ethical questions relating to instruction, assessment, and educational leadership; seeks to promote social justice, diversity, equity, and inclusion.
On successful completion of this paper candidates should be able to:
- Reflect techno ethically on the evolving organizational culture of university;
- Redefine the social construction of cool in terms of social justice;
- Discover the impacts of self-knowledge on ability to teach ethically;
- Eliminate stereotypes through cultural experiences (cross cultural experiences);
- Develop cultural competency for new student affairs professionals;
- Understand quality assurance in education;
- Define research ethics and integrity;
- Understand admissions fraud;
- Analyze fake and fraudulent credentials;
- Develop publication ethics;
- Apply educational technology ethics (e.g., surveillance tech, machine learning, and understand artificial intelligence, as they are used in education);
- Reflect on biomedical ethics in educational contexts;
- Understand university ethics.
This course provides main concepts of public relations so that students can climb the pyramid of Bloom’s taxonomy from recall to evaluation. Public relations writing, multimedia production or campaigns will focus on students’ texts, trainings and online resources as they go deeper into creating public relations tactics and programs on their own. Further, it provides help to students in the application of the knowledge and tools used successfully in the private sector to organize, implement, and maintain an integrated marketing program that achieves their particular goals.
On successful completion of this paper candidates should be able to:
- Master principles and models of public relations;
- Manage relationships;
- Develop strategy, using skills, such as research, planning, implementation and evaluation;
- Master writing and surfing in social media and mobile;
- Marketing Communication;
- Building Community Partnerships.
This course provides explanation of the law as it applies to higher education. It will cover student loan debt, student safety, internet speech, affirmative action, discrimination, issues relating to new technology, non-faculty employees, campus police.
On successful completion of this paper candidates should be able to:
- Understand the nature of law, function, structure and process of the court;
- Define legal structure of higher education;
- Understand student fees and tuition;
- Know contractual relationship between student and university;
- Master student dismissals and procedural due process of law;
- Master liberty and property interests of students in grading and dismissals;
- Manage student speech, expression, and association;
- Master electronic communication and students press;
- Manage faculty contracts, tenure, and collective bargaining;
- Master the concepts of defamation, student records, and the federal family education rights and privacy act;
- Understand state action and students at private colleges.
This course provides students with abilities in human resource management and practicing them with a full and practical introduction to modern human resource management concepts and techniques.
On successful completion of this paper candidates should be able to:
- Develop human resource management strategy and analysis;
- Master job analysis and talent management process;
- Master testing and selection employee;
- Know how to interview candidates;
- Train and develop employees;
- Manage careers and retention;
- Establish strategic pay plans;
- Know how pay for performance and financial incentives;
- Define benefits and services;
- Build positive employee relations;
- Master safety, health and risk management;
- Manage global human resources and human resources in small and entrepreneurial firms.
This course provides students with key skill areas, such as developing projects, collaborating across organizational lines, securing resources, delivering new services and other vital skills which they can utilize in work setting.
On successful completion of this paper candidates should be able to:
- Understand concept how higher education can be changed;
- Master renovation and experience;
- Setting projects;
- Acquire collaborative solutions;
- Publish in professional manner;
- Innovative eye in software development;
- Design projects in creative manner;
- Media and consolidation;
- Master the learning theater project;
- Acquire efficiencies in educational research.
This course provides comprehensive activity-based models that can help future university leaders to reshape their institutions through better resource management. It will help faculty to close the gaps and do a significantly better job of controlling costs and improving academic performance.
On successful completion of this paper candidates should be able to:
- Master AR models;
- Master Pilbara’s Full-Function AR Model;
- Acquire predictive models and scenario planning;
- Master comprehensive program review.
This course provides resource to students for developing and managing the grant process from start to finish; with advice ranging from the strategic (how to decide if an opportunity is worth the effort it will take to apply, how to think about funding at different career stages) to the mundane (how to set up e-mail alerts with opportunities from specific agencies, how to set the line spacing in a proposal). Students get advice on each component of the proposal—cover letters, abstracts, budgets, budget justifications—including sample text, case studies, and common mistakes.
On successful completion of this paper candidates should be able to:
- Identify potential sponsors;
- Tap into campus support that is already in place;
- Prepare to write a targeted grant proposal that can generate results;
- Knowing the roles of grant-funded projects in academia;
- Planning your research agenda;
- Working with funding opportunities databases;
- Learn how to strategically discuss with institutional leadership;
- Be grant writing consultants;
- Solve legal and compliance issues;
- Know requirements for successful collaboration;
- Find and cultivate partnerships;
- Justify budget;
- Work with tools for finding funding;
- Manage the proposal work;
- Develop your proposal.
This course focused on providing students new budget responsibilities in academic affairs to comprehend the language and the processes of budget management in higher education. It will also focus on budget models in higher education and the factors involved in developing and implementing an institutional budget.
On successful completion of this paper candidates should be able to:
- Master fiscal context and manage budget;
- Identify differences between public and private institutions;
- Master primary elements of the budget: revenue and expenses;
- Understand budgets, purposes, types and decision making;
- Manage the budget cycle;
- Determine problems and pitfalls in budget management;
- Manage budget fluctuations.
This course introduces the students to the business concepts and methods used to report managerial performance information to internal users and managers in order to assist them in making sound business decisions in managing the firm. Students will learn different ways of managing finance within an organization with the aim of enhancing business performance. The main areas of management accounting are: costing, planning, decision making, control and performance evaluation.
On successful completion of this course, students should be able to:
- Explain the nature, source and purpose of management information;
- Conduct cost accounting by identifying the cost of producing an item in order to, for example, assist in deciding on a selling price;
- Explain and apply cost accounting techniques such as activity based costing, target costing, life cycle costing, throughput accounting etc.;
- Prepare budgets for planning and control;
- Compare actual costs with standard costs and analyze any variances;
- Compare the performance of managers or departments against budgets or targets.
This subject explores the role and importance of marketing in the company and other organizations, embraces marketing plans/strategies, marketing research, market segmentation, retailing, advertising, pricing, internet marketing and how to build effective marketing.
The main objective of this course is to improve students’ skills:
- Assess market opportunities by customers, competitors, collaborators and the strengths and weaknesses of a company;
- Develop effective marketing strategies to achieve organizational objectives;
- Design a strategy implementation program to maximize its chance of success;
- Critically examine, justify and defend students’ ideas and build upon recommendations in quantitative and qualitative manner;
- Assist in a better appreciation and understanding of the role of marketing in a business organization specifically, and in our society at large;
- Enhance your knowledge of marketing theories, principles, strategies and concepts and provide opportunities to apply them to real marketing situations;
- Provide opportunities to analyze marketing activity within the company;
- Make marketing decisions in the context of general management;
- Control the elements of the marketing – product policy, channels of distribution, communication, and pricing – to satisfy customer needs profitably.
Marketing management is relevant to majors in all functional areas of business. While marketing managers develop and implement marketing strategy, managers in other functional areas (finance, management, accounting, and operations) need to comprehend how marketing strategies impact operations.
Entrepreneurial ventures and startups rarely succeed without a great marketing strategy. Without comprehending the sources of income, it is impossible to value a firm and its stocks and bonds, plan its financing needs, or define its credit rating. Chiefly the revenues from the customers are a direct consequence of the firm’s marketing strategy.
This course enables new approaches to improve efficiency and efficacy of business models, advantages and components and the role of of an Information System, IT management practices (e.g., intelligent supply chain management, IT in business process management, etc.), data analyses in Microsoft Excel and Access, Enterprise resource planning in SAP. (System Analysis Program).
The objective of the course provides students integrate their learning from functional areas, decision making process in an organization and role of Information Systems to have a vintage point in this competitive world.
This course helps students with an overview of the utilization of business application software and problem-solving using that software.
This course includes the following topics:
- Information systems in global business today;
- Global e-business and collaboration;
- Information systems, organizations, and strategy;
- Ethical and social issues in information systems;
- IT infrastructure and emerging technologies;
- Foundations of business intelligence: databases and information management;
- Telecommunications, the internet, and wireless technology
- Securing information systems;
- Achieving operational excellence and customer intimacy: enterprise applications;
- E-commerce: digital markets, digital goods;
- Managing knowledge and artificial intelligence;
- Enhancing decision making;
- Building information systems.
- Managing projects;
- Managing global systems.
The aim of this course consists of theoretical knowledge and practical skills providing the ability to develop managerial decisions based on the application of various methods in the international environment as well as studying the process of making economic and managerial decisions, analyzing situations requiring decisions, studying simple and complex decision-making methods, the usage of essential quantitative/qualitative methods and tools for effective decision making.
Students will learn:
- Identifying problem relevant literature based on critical approach;
- Choosing research approaches and strategies ;
- Ethics in business research;
- Choosing samples from population;
- Quantitative research methods: collecting and analyzing quantitative data;
- Qualitative research methods: collecting and analysing qualitative data;
- Practical issues in conducting interviews, focus groups, participant observation;
- Forecasting trends on the basis of optimization models, simulation and group decision techniques;
- Presenting research reports.
