SMJER - International Business (na engleskom jeziku)

Compulsory courses::
ECTS
Lectures
Seminares
Practice
Type
Big data analytics
6
30
0
30
Compulsory
Course objectives
The digitalization of business and the proliferation of social media contribute to the creation of big data. The objective of the course is to give students the general understanding of the concept of big data, to reveal the hidden informations by different methods of predictive analytics, and to present examples of the application of big data analytics in practice.

Course content
The concept of big data analytics. Characteristics of big data. Examples of big data analytics in practice. Data preprocessing. Introduction to data mining. Supervised and unsupervised learning. Decision trees for classification. Decision trees for regression. Mining of association rules. Cluster mining. Deployment of the model. Ensemble of the models. Introduction to text mining. Selected text mining methods. Selected methods for web data extraction.

Ana Štambuk , PhD, Associate Professor
Chair: 88/IV
E-mail: (051) 355 132
Phone: ana.stambuk@efri.hr
Business in the international environment
6
30
0
30
Compulsory
Course objectives
Course objective is to present terms from international business sector, basic types of entrance to foreign markets and business operations that are realized in international environment to students. This course will help students to clarify existing theoretical and practical cognitions from international business and provide them basics for application of these knowledge, and resolving of real world problems and challenges, that enterprises in international environment face with in this context.

Course content
1. Drivers and effects of globalization on business
2. Multinational companies and their role
3. Introduction to entrance to foreign markets
4. Foreign direct investments
5. Technology transfer and licensing
6. Franchising
7. Strategic alliances
8. Tied trade
9. Investment projects abroad
10. Long term production cooperation/Business-technical cooperation
11. Other services in international business
12. Financing and insurance of export
13. Doing business in particular foreign markets
14. Foreign market analysis process
15. Creation of business strategy in international market

Heri Bezić , PhD, Full Professor
Chair: 60/III
E-mail: heri.bezic@efri.hr
Phone: (051) 355 148
Davorin Balaž , MEcon, Assistant
Chair: 60/III
E-mail: davorin.balaz@efri.hr
Phone: (051) 355 148
Cross cultural communication and business negotiation
6
30
30
0
Compulsory
Course objectives
Objective of this course is to meet students with basic concepts, approaches, behaviors and situations in business negotiation. This course will provide students practical and theoretical knowledge, basics for their application and resolving specific problems companies face with in each business segment. Focus will be especially on communication skills and understanding cultural influences on business negotiation and business customs of particular countries

Course content
1. Theoretical framework of business negotiation
2. Negotiation principles and basic rules
3. Internal negotiation and negotiation between different groups and organizations
4. Identifying negotiation subject
5. Negotiation planning and preparation. Hierarchical approach. Negotiation power. Increasing negotiation power
6. Cross cultural negotiation strategies
7. Factors of successful negotiation
8. Negotiation zone. Concessions.
9. Contemporary business trends. Business protocol
10. Negotiation tactics and effective tactic choice. Multiple tactics usage.
11. Impact of cross cultural differences on negotiation.
12. Successful negotiation closure.
13. Usage of intermediaries and arbitation
14. Negotiation with international institutions and its specifics
15.Negotiation techniques in particular situations

Heri Bezić , PhD, Full Professor
Chair: 60/III
E-mail: heri.bezic@efri.hr
Phone: (051) 355 148
Decision Theory
3
15
15
0
Compulsory
Course objectives
- Develop analytical thinking skills for decision making of economic, financial or managerial nature
- Enable students to successfully combine quantitative methods with standard decision making process in situations that should be made under uncertainty and risk conditions.
- Introduction to adequate analytical packages for solving concrete problems.

Course content
During the course, students will be introduced with basic concepts in normative, descriptive and prescriptive decision theories. Through each decision theory, students will be introduced in details with concepts and methods that will manage easier decision making.

Topics that will be lectured are:

DECISION THEORY
- Basic concepts
- Historical development of decision theory
- Classification of Decision theory
- Normative decision theory
- Descriptive decision theory
- Prescriptive decision theory
MATRIX GAMES
- Classification of games
- Zero-sum games
- Saddle point and minimax theorem
- Solution of mixed strategies games
- Garaphical solving
- Solving matrix game using dominance
- Games against the nature
- Game theory and etics
DECISIONS UNDER IGNORANCE, UNCERTANITY AND RISK
- Preference ordering
- The Maximin rule
- The Minimax regret rule
- The optimism-pesimism rule
- Expected monetary value(EMV)
- Expected oportunity loss (EOL)
PSIHOLOGICAL ASPECTS OF DECISION MAKING
- Personal values and ethics in decision making process
- Emotions in decision making process
- Psihological traps
Heuristics in decision making process and their limitations
- Basics of multicriterial decision making process

Economics and International Trade Policy
6
30
30
0
Compulsory
Course objectives
To deepen the knowledge in the field of international trade policy, its instruments, measures and mechanisms that significantly affect the competitive position of the national economy, but also its individual subjects, and upgrading basic knowledge on issues of international trade and monetary relations as well as globalization, regionalism and multilateralism. This knowledge represents a basis for mastering the content related to the position of a particular country and the Republic of Croatia in the international economic and business environment.

Course content
- The position of countries in the global economy and international trade
- Analysis of international trade and international competitiveness; key indicators of international trade and competitiveness
- Development of foreign trade concepts
- International trade policy - basic concepts; analysis of customs tariff protectionism
- International trade policy - analysis of non-tariff protectionism and international trade agreements
- Determinants of contemporary international trade, global institutions, international trade agreements and changes in global trade flows
- Economic globalization, liberalization and regionalization of international trade - effects on economic structure, competitiveness, trade and business internationalization
- Global supply chains, the importance of economic geography and economic diplomacy
- Enterprises in the global economy, the importance of multinational companies and the global role of ethics in business
- The Common Trade Policy of the EU
- Contemporary trade policies: American, Japanese, British etc.
- Controversies in international trade: technology and the digital economy, labour and migrations, environment and security, inequality and poverty
- Trade policies of developing countries and the position of fast-growing economies
- Macroeconomic policy in the open economy and problems related to foreign exchange policy
- Financial globalization, international investment and financial crises.


Exchange rate policies and instruments
6
30
30
0
Compulsory
Course objectives
The basic goal of the course is to enable students in macro and micro analysis of exchange rate policies and their instruments in order to effectively manage them. Additional objectives are: to identify the institutional structure of exchange rate policies as well as transmission mechanisms, to evaluate the choice of exchange rate regimes, to evaluate the effectiveness of macro and micro exchange rate policy instruments and to train students in applying methods and techniques of financial derivatives in exchange rate risk management.

Course content
1st learning outcome
- introduction: concept and definition of exchange rate policies, micro and macro exchange rate policy management
- institutional structure of exchange rate policy: domestic and international institutions and markets
- concepts and exchange rate taxonomy: nominal and real exchange rate, cross exchange rates, etc.

2nd learning outcome
- exchange rate regimes
- exchange rate regimes choice theory
- exchange rate regimes: performance analysis

3rd learning outcome
- exchange rate policy theories: exchange rate determinants, fundamental analysis, monetary and portfolio exchange rate theory
- contemporary exchange rate theories
- exchange rate market (foreign and domestic): analysis of characteristics and participants
- instruments of macro exchange rate management and exchange rate strategy
- analysis of macro exchange rate management instruments: examples
- micro exchange rate management: exchange rate risk management
- currency risk: exposure and measurement
- currency risk hedging methods
- internal and external methods of protection
International accounting
6
30
30
0
Compulsory
Course objectives
The objectives of the course International Accounting are:
- To acquaint students with different accounting regulations in world practice and the necessity of their convergence and harmonization.
- To acquaint students with the peculiarities of accounting and financial reporting of international corporations;
- Train students in compiling consolidated financial statements of related companies - residents of different countries;
- To acquaint students with the accounting systems of selected countries.

Course content
- The concept and role of international accounting,
- International business as an imperative to harmonize accounting systems,
- Standardization and convergence of accounting and statistical reporting systems (ESA, GFS, SNA),
- International vs. national financial reporting standards (IFRS / IAS, US GAAP, EU Directives, HSFI),
- International organizations - creators of accounting standards,
- Accounting for international transactions, exchange rate differences and reporting currency,
- Financial reporting of international corporations,
- Accounting for the acquisition of shares in non-resident enterprises,
- Accounting for international joint ventures,
- International business combinations, goodwill and non-controlling interest,
- Consolidation of financial statements - purpose, methods and techniques,
- Consolidated balance sheet,
- Consolidated income statement,
- Transfer pricing and income taxation,
- Accounting systems of selected countries.

International Logistics
6
30
30
0
Compulsory
Course objectives
Students should acquire basic knowledge of theoretical and practical phenomena of international logistics.

Course content
The Concept, Development and Importance of Studying International Logistics, International Logistics and Competitiveness Advantage (LPI index), International Logistics, Logistics Chains and Logistics Networks, Outsourcing of Logistics Activities, Logistics Processes in International Business, International Transport and Infrastructure, Intermodal and Multimodal Transport, Multimodal Transport Operators, Planning of Warehouses and Distribution Centres in the Logistics Network, Inventory Management on Global Market,
Logistic Aspects of Packaging for Exports, Logistics Intermediaries in International Business, Activities of International Freight Forwarders and Other Logistics Operators, International Trade Terms – INCOTERMS, International Trade and Transport Documents.
International marketing
6
30
30
0
Compulsory
Course objectives
Provide students with knowledge of marketing strategies and activities in the international market.

Course content
Basics of the international marketing. Culture as a determinant of the international environment. Other
factors of the international environment. International marketing research. Consumers in
international markets. Foreign markets entry strategies. Strategies of expansion and globalization on foreign markets. Market segmentation and positioning. Creating a brand for international markets.
Product in international marketing. Pricing in foreign markets. Distribution in international markets. Promotional mix of international marketing. International marketing plan. Trends in international marketing, ethics and social responsibility.
Quantitative Methods for Business Decisions
6
30
0
30
Compulsory
Course objectives
Through applications to specific economic systems, students will learn about the possibilities of applying selected analytical methods, modelling and simulation as a basis for optimal and efficient decision making.

Course content
Modelling in business decision making: Model - analytical, deterministic, stochastic, simulation. Modeling and optimization of business decisions.
Analytical methods. Deterministic - linear programming. The problem of linear programming and its dual. Standard problem of maximum and minimum. Basic theorems of linear programming. Canonical and general problem of linear programming. Graphical method for solving linear programming problems. Linear programming in software tools. Solution sensitivity analysis. Possibilities and limitations of applying linear programming to practical problems.
Data envelopment analysis. Basic CCR and BCC models. Window analysis.
Stochastic - econometric model: basic concepts. Simple linear regression model. Model evaluation. Least squares method. RFU, RFP. Testing the statistical significance of regression parameters. Testing the statistical significance of the regression model. Multiple regression model. Transformation of nonlinear regression models. Application of regression models. Forecasting by regression models analysis. Violation of model assumptions - multicollinearity, heteroskedasticity and autocorrelation errors.
Alemka Šegota , PhD, Full Professor
Chair: 34/II
E-mail: alemka.segota@efri.hr
Phone: (051) 355 161
Petra Medvedova , PhD
Chair:
E-mail:
Phone:
Research Methodology
3
15
15
0
Compulsory
Course objectives
To provide basic knowledge about the methodology of scientific research as well as about writing of scientific and professional papers and to induce the students into scientific research.

Course content
Methodology as "meta science". Special features of economic science. Objectives of science: explanation and truth. What is knowledge? Taxonomy of science. The place of economics in the system of sciences. Formation of scientific theory and scientific knowledge. Theories, hypotheses and models. Models in economics. Inference in sciences: induction and deduction. The language of scientific theory: the role of mathematics and econometrics. Confirmation, verification and falsification of theory. Indicators, factors, and determinants. A descriptive theory, an explanatory theory and a proof theorem. Deductive nomological, inductive statistical and causal mechanical models of explanation. Correlation and causality: "Post hoc ergo propter hoc" error. Determining variables and testing hypotheses: observation, measurement and statistical experiment. Descriptive and inferential statistics. Basic groups of methods of inferential statistics: time series analysis, univariate, bivariate and multivariate statistical analysis and panel analysis. A critical review of research methods used in scientific research examples.

Davor Mance , PhD, Assistant Professor
Chair: 87/IV
E-mail: davor.mance@efri.hr
Phone: (051) 355 144
Risk management in international business
6
30
30
0
Compulsory
Course objectives
The objective of this course is to provide students with the knowledge and understanding of modelling trends in the field of risk management in the international markets. The course gives a theoretical, practical and analytical base for measuring and managing risks in global business. Furthermore, the aim is to introduce students to the latest methods and econometric models in risk modelling as well as advanced statistical and mathematical methods used in this field.
The aim of this course, apart from providing students with theoretical knowledge, is to provide them with practical competences that are essential to international business. The main focus of the course is on quantitative modelling and backtesting of models used in international risk management.

Course content
1. The concept of risk and risk management
2. Theoretical introduction to risk management
3. Financial crises
4. Duration
5. Duration gap
6. Modern portfolio theory
7. FX risk
8. Interest rate risk
9. Risk measurement methods
10. Value at Risk method
11. Application of the value at risk method in measuring FX risk
12. Application of the value at risk method in measuring interest rate risk
13. Liquidity risk
14. Operational risk
15. Strategic risk

Saša Žiković , PhD, Full Professor
Chair: 38/II
E-mail: sasa.zikovic@efri.hr
Phone: (051) 355 125
Wolfgang Hardle Karl , PhD, Full Professor
Chair: 38/II
E-mail:
Phone: (051) 355 125
Elective course 1:
ECTS
Lectures
Seminares
Practice
Type
Business communication skills in German 1
3
15
15
0
Elective
Course objectives
Improving language competencies, acquiring the language structures needed for oral and written communication in certain business situations with companies coming from German-speaking areas, acquiring expert terminology, mastering the business context and cultural differences in German-speaking countries, deepening the awareness of the intercultural aspects of communication in German in an international business environment, developing team spirit through research and preparation of seminar papers, as well as through the evaluation of verbal and non-verbal elements of their colleagues’ oral presentations, role play and problem solving activities.

Course content
The basics of the communication process. Basic patterns of verbal and non-verbal communication. Cultural differences in international business communication. Making a simple presentation in a foreign language. Business correspondence. Language structures, collocations, phrases and idioms related to the field of study.
Topics and language structures: Small talk; Receiving phone calls; Phone call rejection; Education; Company history; Past tense (Präteritum); Presentations; Home-Office; Complaints; Dependent clauses; Service activities; Economic activities; Reflexive verbs; Business trips; Orientation; Contacting business partners; Economy in German-speaking countries. Companies in German-speaking countries.
Kornelija Čakarun , MA Lecturer
Chair: 81/IV
E-mail: kornelija.cakarun@efri.hr
Phone: (051) 355 157
Daniela Kružić , MA Lecturer
Chair: 80/ IV
E-mail: daniela.kruzic@efri.hr
Phone: (051) 355-189
Business communication skills in Italian 1
3
15
15
0
Elective
Course objectives
Improving language competencies, acquiring the language structures needed for oral and written communication in certain business situations with companies coming from Italian-speaking areas, acquiring expert terminology, mastering the business context and cultural differences in Italian-speaking countries, deepening the awareness of the intercultural aspects of communication in Italian in an international business environment, developing team spirit through research and preparation of seminar papers, as well as through the evaluation of verbal and non-verbal elements of their colleagues’ oral presentations, role play and problem solving activities.

Course content
The basics of the communication process. Basic patterns of verbal and non-verbal communication. Cultural differences in international business communication. Making a simple presentation in a foreign language. Business correspondence. Language structures, collocations, phrases and idioms related to the field of study.
Topics and language structures: Organization of the fair; Invitation; Behaviour during the fair; Advertising; Italian fairs; Business trip; Transport; Brands; Product types; Inquiry; Offer; Order; Adjectives; Types of communication; Telephone conversation; Delivery; Complaint; Formal communication (giving orders); Abbreviations in the written communication; Italian economy; Italian companies.

Daniela Kružić , MA Lecturer
Chair: 80/ IV
E-mail: daniela.kruzic@efri.hr
Phone: (051) 355-189
Corporate Social Responsibility
3
15
15
0
Elective
Course objectives
Introducing students to advanced concepts of Corporate Social Responsibility (CSR) as a business platform, with application of CSR models in companies, associations and organizations to ensure long-term sustainability within essential aspects of doing business.

Course content
- Development and theoretical foundations of Corporate Social Responsibility (CSR).
- Social sustainability and business ethics.
- Concept of the Triple Bottom Line (TBL).
- Stakeholder Theory.
- Stakeholder Management.
- Social Entrepreneurship.
- Integration of financial, environmental and social aspects of business performance.
- Relevance of CSR reporting.
- Data sources used for integrated business performance.
- Relationship between financial results and non-financial business risks.
- Aspects of Sustainable Value Added creation (SVA).
- Analysis of Sustainable Value Added.
- Stakeholder distribution of sustainable value.
- Managerial paradigm of integrated business valuation.
Goran Kutnjak , PhD, Full Professor
Chair: 94/IV
E-mail: goran.kutnjak@efri.hr
Phone: (051) 355 103
Global Value Chains Analysis
3
15
0
15
Elective
Course objectives
The objective of the course is to familiarize students with the concept of global value chains and their importance in economics. It will also enable students to use quantitative methods to analyze the degree of integration, position and movement within global value chains. Special attention will be paid to the length of the chain and the specifics of the chain of individual industries.

Course content
The course contains the following thematic units:
- Fragmentation of production, vertical specialization
- The emergence and development of global value chains
- The effects of global value chains on the economic competitiveness of countries
- Integration of countries (companies) into global / regional value chains
- Moving through the supply chain of values
- Position in the chain - upstream and downstream position in the global value chain
- Global vs. regional value chains
- Specifics of regional value chains
- Chain length - specifics of the agricultural and food and beverage industries
- Chain length - specifics of the chemical industry, motor vehicle industry, computer industry and other electronics
- Chain length - specifics of the financial and other services industry
- Croatia in global value chains
- Workforce structure and global value chains
- Intangible assets in global value chains
- Protection of intellectual property in global value chains

Industrial Organization
3
15
15
0
Elective
Course objectives
The Industrial Organization course will provide students with a deeper understanding of market structure, market efficiency and interaction between different players in these markets (businesses, consumers, regulators, competition authorities, etc.).

Course content
1. Introduction
2. Historical background for theory development
3. Market structure and strategic behavior of firms
4. Market performance (social effects of limiting choices)
5. Defining markets and measuring market concentrations
6. Rivalry in oligopolistic conditions; related action
7. Dominant position - concept and determinants
8. Doctrines related to the public response to the dominant position of firms
9. Pricing strategies and market segmentation
10. Vertical and horizontal differentiation of products and services
11. Price competition (price policy)
12. Sales efforts (promotional activities)
13. Differentiation of supply and sales channels
14. Research and development as a model of differentiation; technology-based strategies
15. Protected information (economic and social side of intellectual property protection)
Danijela Sokolić , PhD, Associate Professor
Chair: 36/II ili 68/III
E-mail: danijela.sokolic@efri.hr
Phone: (051) 355 196
Information Systems for Decision–Making Support
3
15
15
0
Elective
Course objectives
The aim of the course is to make students familiar with the possibilities and functioning of the information system in the function of decision support and accordingly, consider, explain and apply methods and concepts of using the information system in business decision making and computer-supported models in decision problem solving.

Course content
1. Introduction to the Program, Mission of the Course, Literature, Teaching Contents and Activities, Seminar work, Midterms, Final Exam.
2. Information systems and decision making. Definition, structure, and relationship between information systems and decision making.
3. Business decision making - definition, structure, phases, assignments, functions and features.
4. Stages of the decision-making process and support of information systems.
5. Methods, concepts and examples of using information systems to decision-making support.
6. Types of information systems in business decision making. Intelligent and interorganizational information systems.
7. Analytical modeling and design of decision problem in business.
8. Use and relationship between formulas, functions and tools in analytical modeling.
9. Solver and mathematical programming in the Excel spreadsheet interface
10. Solver as a development tool in designing and solving business decision models.
11. Solver and binary programming in the design of a dimensional model of assignment problem
12. Model of assignment problem in solving project selection problems
13. Case Studies. Application of decision support systems in problem analysis, modeling and solving a decision problem.
14. Visual Basic for Applications (VBA) in modeling and programming a decision problem.
15. Thematic discussions in discussion groups (Google Groups).


Integrated business processes
3
15
0
15
Elective
Course objectives
The first objective is to show students and teach them how to apply the latest advances in information solutions developed by SAP (SAP S/4HANA), so that they can use their full potential by applying the acquired knowledge to optimise business processes and in that way be competitive in the labour market.
The second objective is to present the flow of documentation and to record individual transactions ranging from the process of inquiry and procurement of materials, through production and sales to accounting. The prerequisite for understanding SAP is knowledge of economics of business and analysis of individual business processes. SAP software solutions provide a database that is important for monitoring the entire business process, that is used for the needs of analysing and reporting on a business results of a company.

Course content
- Introduction to SAP S/4HANA, “Global Bike” Concept for University, SAP FIORI and SAP GUI
- Lectures, case studies and exercises according to the listed parts
- Material management: organisational units and master data
- Production planning: organisational units, master data
- Production process: Sales planning, Schedule of main products, Planning of required materials, Order
- Going through the production process
- Sales and distribution: Organisational units, master data, Order process
- Financial Accounting: Organisational structure, master data, Processes, Reporting
- Managerial Accounting / Controlling: organisational structure, master data, procedures and reporting

Ivan Uroda , PhD, Assistant Professor
Chair: 47/II
E-mail: ivan.uroda@efri.hr
Phone: (051) 355 151
International Business Environment
3
15
15
0
Elective
Course objectives
Apply the acquired knowledge of remote business environment analysis methodology to the examples of different economies to understand the extent of variability, number and complexity of factors that determine business in different geographical areas and national economies.

Course content
- Development of theoretical approaches to the business environment;
- Theories of the firm as an open system - interpretation of the meaning of the business environment;
- Business environment in institutional theory, economic organization theory and resource dependence theory;
- Business environment in the model of population ecology and in the theory of structural contingency;
- Paradigm of bounded strategic choice as a framework for interpreting the interaction between the firm and the business environment;
- Application of the methodology PEST in the analysis of the business environment of a given economy;
- Modeling the uncertainty of the business environment using an objective approach;
- Modeling the uncertainty of the business environment using a perceptual approach;
- Measuring the quality of the business environment of economies;
- Composite indices as a basis for comparing the quality of the business environment of economies;
- Corporate economics as the prevailing model of corporate functioning in the international business environment;
- Ecological-social-market economy as the model for achieving long-term sustainable growth in international business;
- Trends in the international business environment and implications for business;
- Diversity of business regulation in specific business environments;
- Specifics of cultural dimensions in international business environment and impact on business.
International commercial law
3
15
15
0
Elective
Course objectives
Acquisition of knowledge about specific institutes of international commercial contracts, especially sale of goods contract. In addition, the obligations law elements of sale of goods contracts are analysed. Emphasis is placed on the international legal sources that are applied in a particular case, as well as the relationship of these international legal sources to national law. The development of European Union law and its impact on the development of a sale of goods contract is also discussed. The goal is to provide the student with a complete picture of an international trade transaction cantered on an international sales of goods contract.

Course content
- The course consists of 4 main thematic units:
A) Subject and sources of international commercial law or lex mercatoria,
1. International commercial law or lex mercatoria; 2. Legal sources of international commercial law, 3. Organizations with important role in creation / unification of international commercial law; 4. Concept and meaning of lex mercatoria, 5. UNIDROIT Principles of international commercial contracts;

B) Influence of European Union law on development of commercial sale of goods contract
1. Principles of European Contract Law (PECL); 2. Legal sources of European Union which influence commercial sale of goods contracts

C) Formation of the sale of goods contracts
1. Negotiations under international and national legal sources; 2. Application of general business conditions; 3. Battle of forms; 4. Offer and counter-offer; 5. Revocable and irrevocable offers; 6. Precontractual liability

D) Analysis of the UN Convention on Contracts for the International Sale of Goods (CISG)
1. Application of the CISG; 2. Interpretation of the CISG; 3. Interpretation of the parties’ intent under the CISG; 4. Formation of the contract under the CISG; 5. Fundamental breach of the contract under the CISG; 6. Termination of the contract under the CISG; 7. Delivery of goods under the CISG 8. Conformity of the goods under the CISG; 9. Buyers’ rights in case of the breach of the contract; 10. Sellers’ rights in case of the breach of the contract; 11. Transfer of risk over the goods; 12. Indemnity; 13. Vis majeure and impossibility to fulfil the contract.
Labor Economics
3
15
15
0
Elective
Course objectives
The aim of the course is to adopt basic theories that help to understand how decisions involving work are made. The course focuses on the study of the labor market, labor market institutions (e.g. trade unions), public policies related to labor markets (e.g. immigration or minimum wage), wage structure (e.g. income inequality) and the economics of human resource management (e.g. incentive wages).

Course content
1. Introduction to labor economics
2. Labor Supply
3. Labor demand
4. Labor Market Equilibrium
5. Factors influencing the structure and dynamics of the labor market
6. The role of education and training in the labor market
7. Wage structure
8. Labor mobility
9. Labor market discrimination
10. Labor market regulation
11. The problem of unemployment: level, structure and dynamics of development.
12. Labor unions
13. Labor market flexibility
14. National labor maket
15. European labor markets



Danijela Sokolić , PhD, Associate Professor
Chair: 36/II ili 68/III
E-mail: danijela.sokolic@efri.hr
Phone: (051) 355 196
Pharmacoeconomics
3
15
0
15
Elective
Course objectives
The aim of the course is to provide students with an insight into the field of pharmacoeconomics, its basic determinants and tools. The course deals with cost-effectiveness assessments of health technology using economic evaluations - from measuring and evaluating health outcomes to measuring and calculating intervention costs and interpreting evaluation results.

Course content
1. Introduction - why pharmacoeconomics?
2. Drug policy, regulatory framework and drug market organization
3. Economic evaluations of health technologies and economic theory. Decision-making based on the results of economic evaluations
4. Types of economic evaluations
5. Budget impact analysis
6. Sensitivity analysis and interpretation of results
7. Distributive justice in health care or how to modify decision-making based on cost-effectiveness
8. HTA - health technology assessment
9. Application of HTA and economic evaluations in healthcare decision-making - EU experiences and application in Croatia
10. Measurement and estimation of direct costs of health technologies
11. Measurement and estimation of indirect costs of health technologies
12. Measuring health outcomes
13. Evaluating health outcomes
14. Outcomes of health technologies, clinical trials and actual efficacy of drugs
15. How to improve the drug policy, regulatory framework and organization of the drug market in Croatia and the EU?

Ana Bobinac , PhD, Assistant Professor
Chair: 92/IV
E-mail: ana.bobinac@efri.hr
Phone: (051) 355 158
Transport and Maritime Economics
6
15
15
0
Elective
Course objectives
Students should acquire basic economic knowledge about the elements and processes of production of transport services in transport and maritime affairs and the role of transport and maritime affairs in economic growth and development.

Course content
Theoretical Determinants of Transport and Traffic, Transport Systems, Modes of Transport, Transport Infrastructure, Transport Suprastructure, Transport Policy, Contemporary Transport Technologies, Transport Costs, Transport System and the Environment, Maritime Affairs, Specifics of the Maritime Market, Maritime Market and Global Economy, Role and Importance of Ports in Economic and Transport System, Maritime Trade, Transport Corridors.
Elective course 2:
ECTS
Lectures
Seminares
Practice
Type
Business communication skills in German 2
3
15
15
0
Elective 2
Course objectives
Improving language competencies, acquiring the language structures needed for oral and written communication in certain business situations with companies coming from German-speaking areas, acquiring expert terminology, mastering the business context and cultural differences in German-speaking countries, deepening the awareness of the intercultural aspects of communication in German in an international business environment, developing team spirit through research and preparation of seminar papers, as well as through the evaluation of verbal and non-verbal elements of their colleagues’ oral presentations, role play, problem solving activities and negotiation.

Course content
Rules of communication: verbal and non-verbal communication (A2 level). Cultural differences in international business communication. Public appearance and presentations. Negotiation. Business correspondence. Language structures, collocations, phrases and idioms related to the field of study and in accordance with the level of language competency (A2).
Topics and language structures: Marketing; Advertising; Inquiry; Offer; Forms of politeness (Konjunktiv II); Order; Business attire; Complaint; Job interview; CV; Job application; Economic sectors, companies and products; Dependent clauses; Business ideas; Legal forms of companies; Business advice; Telephone communication; Fairs.

Kornelija Čakarun , MA Lecturer
Chair: 81/IV
E-mail: kornelija.cakarun@efri.hr
Phone: (051) 355 157
Daniela Kružić , MA Lecturer
Chair: 80/ IV
E-mail: daniela.kruzic@efri.hr
Phone: (051) 355-189
Business communication skills in Italian 2
3
15
15
0
Elective 2
Course objectives
Improving language competencies, acquiring the language structures needed for oral and written communication in certain business situations with companies coming from Italian-speaking areas, acquiring expert terminology, mastering the business context and cultural differences in Italian-speaking countries, deepening the awareness of the intercultural aspects of communication in Italian in an international business environment, developing team spirit through research and preparation of seminar papers, as well as through the evaluation of verbal and non-verbal elements of their colleagues’ oral presentations, role play, problem solving activities and negotiation.

Course content
Rules of communication: verbal and non-verbal communication (A2 level). Cultural differences in international business communication. Public appearance and presentations. Negotiation. Business correspondence. Language structures, collocations, phrases and idioms related to the field of study and in accordance with the level of language competency (A2).
Topics and language structures: Job interview; CV; Job application; Advantages and disadvantages; Education system; Economic sectors, companies and products; Legal forms of companies; Business counselling; Organizational structure of the company; Circular letter; Marketing; Advertising; Inquiry; Offer; Complaint; Business attire.
Daniela Kružić , MA Lecturer
Chair: 80/ IV
E-mail: daniela.kruzic@efri.hr
Phone: (051) 355-189
Comparative Tax Systems
3
15
15
0
Elective 2
Course objectives
The course is aimed at students who already have some basic knowledge of theoretical fundamentals of taxation and features of the Croatian tax system. The objective of the course is to deepen students’ knowledge in the field of tax systems and policies of developed countries and (post)transition countries, with emphasis on EU countries – both current and future ones; furthermore. The students should acquire the ability to critically consider the tax system of Croatia in the context of international taxation trends. It is our intention that students gain the ability to cope with tax systems on the international market and in public sector institutions dealing with tax issues. For the students who do not have sufficient prior knowledge of taxation, the short repetition will be organized.

Course content
Part 1: Tax systems in international perspective: especially tax systems of developed countries (OECD) and (post-)transition countries (after the presentation of the relevant tax topic, the related international comparison is given):
- Taxes as percentage of GDP and tax structure (OECD/EU, Asia, Africa, Latin America, USA);
- Tax base: income or consumption;
- Personal income tax (taxation of labour income, taxation of capital income (saving), flat tax, dual income tax);
- Integration of personal income tax and corporate income tax (corporate tax systems)
- Corporate income tax (tax base and rates, investment tax incentives)
- Social security contributions
- VAT (basic elements, rates, exemptions, effects and trends) and retail sales tax
- Excises
- Property taxes: net wealth taxes and real estate taxes
- Inheritance and gift taxes
- Environmental taxes
Part 2: International taxation
- Definition, concepts and reasons for the occurrence of international double taxation
- Avoidance of international double taxation (different methods and techniques)
- Basic concepts and elements of the OECD model of double tax treaties
- Fundamentals of international tax planning
- Croatian taxpayers and international taxation

Digital business communication channels
3
15
15
0
Elective 2
Expected learning outcomes
Use Microsoft Office tools at an advanced level
Create and present digital content
Define and explain the basic elements of the communication process, verbal and nonverbal communication and digital technologies and business communication channels

Course content
1. Introductory lecture, presentation of the course
2. The concept and importance of business communication
3. Communication process and ways digital channels communication
4. Digital channels of verbal communication
5. Digital channels of nonverbal communication
6. Application of Digital Technologies for Communication skills: listening, speaking, writing
7. Meetings, discussions, consultations, negotiations in a digital environment
8. Presentation and public speaking using digital technologies
9. Business conversation and business correspondence in digital business communication channels
10. Meetings, discussions, consultations, negotiations using digital technologies
11. Presentation and public speaking in the digital world
12. Internal communication using digital technology
13. Intercultural communication and digital communication channels
14. Business etiquette in the digital world
15. Digital business communication channels in the future
Zvonko Čapko , PhD, Full Professor
Chair: 46/II
E-mail: zvonko.capko@efri.hr
Phone: (051) 355 152
Doing Business on the EU Market
3
15
15
0
Elective 2
Expected learning outcomes
Upon completion of the course the students will be able to:
- Analyse different aspects of the European economic integration that directly affect businesses in the EU;
- Identify the possibilities and limitations of the Internal Market and specific EU legislation affecting European businesses, working conditions and financing of entrepreneurial activities;
- Use a meaningful set of specific methods, tools and indicators to assess the European business environment and compare possible forms of entrepreneurial business in a competitive and dynamic European (and global) environment.

Course content
- Characteristics of the European economy and business environment in the EU
- Implications of the functioning of the Internal Market and common EU policies on the European enterprises
- European financial markets and cross-border investments
- Doing business in the conditions of a Monetary Union
- Development of the European industry and clustering in the EU
- Encouraging productivity and competitiveness in the EU
- Theories and methodology of comprehensive analysis of the European business environment and strategic approach of companies
- Legal and business environment of European micro, small and medium enterprises
- Lobbying in the EU
- European market entry strategies and the principles of "European corporations"
- Encouraging entrepreneurship, innovation and training in the EU Internal Market
- EU Budget and possibilities of financing entrepreneurship through EU funds
- Specifics of business in individual EU Member States
- Business frameworks for European companies outside the EU
- Case study analysis of business on the European Internal Market
EU Business Policies and the Internal Market
3
15
15
0
Elective 2
Expected learning outcomes
Upon completion of the course the students will be able to:
- Distinguish the main institutions and instruments for the implementation of the European (micro) economic policies, and consider the factors that affect the business aspects of regional economic integration;
- Explain the basic concepts related to the European Internal Market and its fundamental "freedoms", as well as to present aspects of specific common policies or issues of market integration in the EU;
- Critically evaluate the fundamental principles of the development of the European integration in the field of common actions, such as agriculture, competition, taxation, industry and transport.

Course content
- Historical and institutional frameworks of the EU
- Specifics of decision-making in the field of EU common policies
- The EU funding system
- Microeconomic analysis of European integration
- Preferential liberalization and the foreign trade position of the EU
- The European Internal Market and fundamental concepts of economic policies in the EU
- The evolution of market integration and "fundamental freedoms" in the EU
- European services market and freedom of establishment
- Specifics of financial integration in the EU
- Common Agricultural Policy in the EU – CAP
- Location effects, economic geography and regional policy
- EU competition and state aid policy; consumer protection in the EU
- Tax harmonization in the EU
- European industry, technological development and innovation
- European transport, energy and fisheries policy.
International financial markets
3
15
15
0
Elective 2
Course objectives
The objective of the course is to provide students with the knowledge of the elements of the financial system and modern processes in international financial systems. Special emphasis is placed on international financial markets, financial instruments, and international institutions.

Course content
- Introduction to international financial markets
- Concept, functions and types of financial markets: primary, secondary, tertiary, quaternary markets; short-term and long-term markets; debt and equity markets; stock exchanges and over-the-counter markets
- Efficiency of the securities market
- Foreign exchange markets: basic functions and operations in the foreign exchange market
- Financial instruments: stocks and bonds
- Financial innovation
- International financial markets: participants and structure of international markets
- Euro money market, euro deposits, euro banks
- Offshore business and financial centers
- International capital market: market for Eurobonds, Eurocredits, foreign bonds
- Institutions of the international financial system: IMF, World Bank, European Investment Bank, European Bank for Reconstruction and Development, Council of the Europe Development Bank
- Modern processes in the financial system: processes of financial globalization, deregulation, securitization and conglomeration
- Financial crises
- International capital markets (Euronext, NASDAQ, London Stock Exchange, Paris Stock Exchange, Tokyo Stock Exchange)
- National financial markets: capital markets in post-transition, capital market in the Republic of Croatia



Elective course 3:
ECTS
Lectures
Seminares
Practice
Type
Business aspects of Database Management Systems
3
15
0
15
Elective 3
Course objectives
Course objectives of the course Business aspects of Database Management Systems are to teach students how to elaborate a theory related to the business aspects of database management systems, parts of database management systems by using models of database management systems and how to use Oracle’s database management system in developing solutions for business.

Course content
- introductory considerations related to business aspects of database management systems
- theory related to business aspects of database management systems
- examples of companies that use business aspects of database management systems
- theory of advanced normalisation of data and tables and theory of model of database management systems
- selected ethical issues related to business aspects of database management systems
- future tendencies of progress of database management systems
- examples of business aspects of Oracle database management system in data conceptualisation
- examples of business aspects of Oracle database management system in data modelling
- examples of business aspects of Oracle database management system in defining database requirements
- examples of business aspects of Oracle database management systems in translating from diagrams to databases
- examples of business aspects of Oracle database management system in creating database objects
- examples of business aspects of Oracle database management system in establishing connections between data
- examples of business aspects of Oracle database management system in advanced normalisation of data and tables
- examples of business aspects of Oracle database management system when using SQL
- examples of business aspects of Oracle database management system in creating graphical user interfaces for databases

Ivan Uroda , PhD, Assistant Professor
Chair: 47/II
E-mail: ivan.uroda@efri.hr
Phone: (051) 355 151
Energy markets
3
15
15
0
Elective 3
Course objectives
The objective of this course is to provide students with knowledge and understanding of current and structural changes in energy markets and the regulatory framework of reforms that are changing the energy business environment in order to understand the specifics of energy markets. Understanding trends in energy is necessary for a critical examination of business models that ensure competitiveness in the time of rapid technological, organizational, and financial changes.

Course content
1. oil market - market analysis (supply, demand, prices) in the short and long term, reserves, end of oil era?
2. coal market - market analysis (supply, demand, prices) in the EU and worldwide, the growing role of coal in developing countries
3. natural gas market - analysis of the natural gas market (supply, demand, prices), gas as a transition fuel, gas in synergy with hydrogen
4. LNG market - supply, demand, prices
5. renewable energy market - market analysis, incentive schemes
6. electricity market - market analysis (prices, market models)
7. hydrogen as an energy source – the change in the energy paradigm
8. four packages of energy laws and reforms
9. the role and objectives of the regulatory energy agency
10. restructuring in the energy sector and unbundling of energy activities
11. privatization - models and experiences
12. results of reforms in the energy sector - analysis of selected countries
13. energy markets in the Republic of Croatia
14. energy strategy until 2030 with a view to 2050 - what awaits us?
15. energy poverty - the situation in the Republic of Croatia and in the EU, legislation


Local finance
3
15
15
0
Elective 3
Course objectives
Students should be familiarized with the concepts related to the functioning and financing of the lower levels of the public sector, especially the local units (cities and municipalities) of the public sector. To this end, they must be familiarized with the technique of preparation and items of local budgets, types of revenue of local units, and ways of financing local public expenditures. To achieve these goals, students must also acquire knowledge of fiscal decentralization and the problems of fiscal inequality of local self-government units.

Course content
- The concept and basic features of fiscal federalism
- Fiscal decentralization: trends, advantages, disadvantages
- Powers and responsibilities of local public authorities
- Decentralized functions and their financing
- Budgeting techniques and types of local government budgets
- Budgeting process of local units
- Revenues of local public authorities
- Local (own) and joint taxes
- Non-tax revenues of local authorities
- Fiscal inequalities and imbalances of local units
- Financing of local units - debt and borrowing
- Financing of local units - alternative financing models
- Asset management of local units
- The Croatian system of fiscal federalism and comparison with other EU Member States
- Local economy in the Republic of Croatia
Saša Drezgić , PhD, Full Professor
Chair: 93/IV
E-mail: sasa.drezgic@efri.hr
Phone: (051) 355 129
Compulsory courses::
ECTS
Lectures
Seminares
Practice
Type
Business in the international environment
6
30
0
30
Compulsory
Course objectives
Course objective is to present terms from international business sector, basic types of entrance to foreign markets and business operations that are realized in international environment to students. This course will help students to clarify existing theoretical and practical cognitions from international business and provide them basics for application of these knowledge, and resolving of real world problems and challenges, that enterprises in international environment face with in this context.

Course content
1. Drivers and effects of globalization on business
2. Multinational companies and their role
3. Introduction to entrance to foreign markets
4. Foreign direct investments
5. Technology transfer and licensing
6. Franchising
7. Strategic alliances
8. Tied trade
9. Investment projects abroad
10. Long term production cooperation/Business-technical cooperation
11. Other services in international business
12. Financing and insurance of export
13. Doing business in particular foreign markets
14. Foreign market analysis process
15. Creation of business strategy in international market

Heri Bezić , PhD, Full Professor
Chair: 60/III
E-mail: heri.bezic@efri.hr
Phone: (051) 355 148
Davorin Balaž , MEcon, Assistant
Chair: 60/III
E-mail: davorin.balaz@efri.hr
Phone: (051) 355 148
International accounting
6
30
30
0
Compulsory
Course objectives
The objectives of the course International Accounting are:
- To acquaint students with different accounting regulations in world practice and the necessity of their convergence and harmonization.
- To acquaint students with the peculiarities of accounting and financial reporting of international corporations;
- Train students in compiling consolidated financial statements of related companies - residents of different countries;
- To acquaint students with the accounting systems of selected countries.

Course content
- The concept and role of international accounting,
- International business as an imperative to harmonize accounting systems,
- Standardization and convergence of accounting and statistical reporting systems (ESA, GFS, SNA),
- International vs. national financial reporting standards (IFRS / IAS, US GAAP, EU Directives, HSFI),
- International organizations - creators of accounting standards,
- Accounting for international transactions, exchange rate differences and reporting currency,
- Financial reporting of international corporations,
- Accounting for the acquisition of shares in non-resident enterprises,
- Accounting for international joint ventures,
- International business combinations, goodwill and non-controlling interest,
- Consolidation of financial statements - purpose, methods and techniques,
- Consolidated balance sheet,
- Consolidated income statement,
- Transfer pricing and income taxation,
- Accounting systems of selected countries.

Quantitative Methods for Business Decisions
6
30
0
30
Compulsory
Course objectives
Through applications to specific economic systems, students will learn about the possibilities of applying selected analytical methods, modelling and simulation as a basis for optimal and efficient decision making.

Course content
Modelling in business decision making: Model - analytical, deterministic, stochastic, simulation. Modeling and optimization of business decisions.
Analytical methods. Deterministic - linear programming. The problem of linear programming and its dual. Standard problem of maximum and minimum. Basic theorems of linear programming. Canonical and general problem of linear programming. Graphical method for solving linear programming problems. Linear programming in software tools. Solution sensitivity analysis. Possibilities and limitations of applying linear programming to practical problems.
Data envelopment analysis. Basic CCR and BCC models. Window analysis.
Stochastic - econometric model: basic concepts. Simple linear regression model. Model evaluation. Least squares method. RFU, RFP. Testing the statistical significance of regression parameters. Testing the statistical significance of the regression model. Multiple regression model. Transformation of nonlinear regression models. Application of regression models. Forecasting by regression models analysis. Violation of model assumptions - multicollinearity, heteroskedasticity and autocorrelation errors.
Alemka Šegota , PhD, Full Professor
Chair: 34/II
E-mail: alemka.segota@efri.hr
Phone: (051) 355 161
Petra Medvedova , PhD
Chair:
E-mail:
Phone:
Elective course 1:
ECTS
Lectures
Seminares
Practice
Type
Business communication skills in German 1
3
15
15
0
Elective
Course objectives
Improving language competencies, acquiring the language structures needed for oral and written communication in certain business situations with companies coming from German-speaking areas, acquiring expert terminology, mastering the business context and cultural differences in German-speaking countries, deepening the awareness of the intercultural aspects of communication in German in an international business environment, developing team spirit through research and preparation of seminar papers, as well as through the evaluation of verbal and non-verbal elements of their colleagues’ oral presentations, role play and problem solving activities.

Course content
The basics of the communication process. Basic patterns of verbal and non-verbal communication. Cultural differences in international business communication. Making a simple presentation in a foreign language. Business correspondence. Language structures, collocations, phrases and idioms related to the field of study.
Topics and language structures: Small talk; Receiving phone calls; Phone call rejection; Education; Company history; Past tense (Präteritum); Presentations; Home-Office; Complaints; Dependent clauses; Service activities; Economic activities; Reflexive verbs; Business trips; Orientation; Contacting business partners; Economy in German-speaking countries. Companies in German-speaking countries.
Kornelija Čakarun , MA Lecturer
Chair: 81/IV
E-mail: kornelija.cakarun@efri.hr
Phone: (051) 355 157
Daniela Kružić , MA Lecturer
Chair: 80/ IV
E-mail: daniela.kruzic@efri.hr
Phone: (051) 355-189
Business communication skills in Italian 1
3
15
15
0
Elective
Course objectives
Improving language competencies, acquiring the language structures needed for oral and written communication in certain business situations with companies coming from Italian-speaking areas, acquiring expert terminology, mastering the business context and cultural differences in Italian-speaking countries, deepening the awareness of the intercultural aspects of communication in Italian in an international business environment, developing team spirit through research and preparation of seminar papers, as well as through the evaluation of verbal and non-verbal elements of their colleagues’ oral presentations, role play and problem solving activities.

Course content
The basics of the communication process. Basic patterns of verbal and non-verbal communication. Cultural differences in international business communication. Making a simple presentation in a foreign language. Business correspondence. Language structures, collocations, phrases and idioms related to the field of study.
Topics and language structures: Organization of the fair; Invitation; Behaviour during the fair; Advertising; Italian fairs; Business trip; Transport; Brands; Product types; Inquiry; Offer; Order; Adjectives; Types of communication; Telephone conversation; Delivery; Complaint; Formal communication (giving orders); Abbreviations in the written communication; Italian economy; Italian companies.

Daniela Kružić , MA Lecturer
Chair: 80/ IV
E-mail: daniela.kruzic@efri.hr
Phone: (051) 355-189
Elective course 2:
ECTS
Lectures
Seminares
Practice
Type
Comparative Tax Systems
3
15
15
0
Elective 2
Course objectives
The course is aimed at students who already have some basic knowledge of theoretical fundamentals of taxation and features of the Croatian tax system. The objective of the course is to deepen students’ knowledge in the field of tax systems and policies of developed countries and (post)transition countries, with emphasis on EU countries – both current and future ones; furthermore. The students should acquire the ability to critically consider the tax system of Croatia in the context of international taxation trends. It is our intention that students gain the ability to cope with tax systems on the international market and in public sector institutions dealing with tax issues. For the students who do not have sufficient prior knowledge of taxation, the short repetition will be organized.

Course content
Part 1: Tax systems in international perspective: especially tax systems of developed countries (OECD) and (post-)transition countries (after the presentation of the relevant tax topic, the related international comparison is given):
- Taxes as percentage of GDP and tax structure (OECD/EU, Asia, Africa, Latin America, USA);
- Tax base: income or consumption;
- Personal income tax (taxation of labour income, taxation of capital income (saving), flat tax, dual income tax);
- Integration of personal income tax and corporate income tax (corporate tax systems)
- Corporate income tax (tax base and rates, investment tax incentives)
- Social security contributions
- VAT (basic elements, rates, exemptions, effects and trends) and retail sales tax
- Excises
- Property taxes: net wealth taxes and real estate taxes
- Inheritance and gift taxes
- Environmental taxes
Part 2: International taxation
- Definition, concepts and reasons for the occurrence of international double taxation
- Avoidance of international double taxation (different methods and techniques)
- Basic concepts and elements of the OECD model of double tax treaties
- Fundamentals of international tax planning
- Croatian taxpayers and international taxation

Digital business communication channels
3
15
15
0
Elective 2
Expected learning outcomes
Use Microsoft Office tools at an advanced level
Create and present digital content
Define and explain the basic elements of the communication process, verbal and nonverbal communication and digital technologies and business communication channels

Course content
1. Introductory lecture, presentation of the course
2. The concept and importance of business communication
3. Communication process and ways digital channels communication
4. Digital channels of verbal communication
5. Digital channels of nonverbal communication
6. Application of Digital Technologies for Communication skills: listening, speaking, writing
7. Meetings, discussions, consultations, negotiations in a digital environment
8. Presentation and public speaking using digital technologies
9. Business conversation and business correspondence in digital business communication channels
10. Meetings, discussions, consultations, negotiations using digital technologies
11. Presentation and public speaking in the digital world
12. Internal communication using digital technology
13. Intercultural communication and digital communication channels
14. Business etiquette in the digital world
15. Digital business communication channels in the future
Zvonko Čapko , PhD, Full Professor
Chair: 46/II
E-mail: zvonko.capko@efri.hr
Phone: (051) 355 152
Doing Business on the EU Market
3
15
15
0
Elective 2
Expected learning outcomes
Upon completion of the course the students will be able to:
- Analyse different aspects of the European economic integration that directly affect businesses in the EU;
- Identify the possibilities and limitations of the Internal Market and specific EU legislation affecting European businesses, working conditions and financing of entrepreneurial activities;
- Use a meaningful set of specific methods, tools and indicators to assess the European business environment and compare possible forms of entrepreneurial business in a competitive and dynamic European (and global) environment.

Course content
- Characteristics of the European economy and business environment in the EU
- Implications of the functioning of the Internal Market and common EU policies on the European enterprises
- European financial markets and cross-border investments
- Doing business in the conditions of a Monetary Union
- Development of the European industry and clustering in the EU
- Encouraging productivity and competitiveness in the EU
- Theories and methodology of comprehensive analysis of the European business environment and strategic approach of companies
- Legal and business environment of European micro, small and medium enterprises
- Lobbying in the EU
- European market entry strategies and the principles of "European corporations"
- Encouraging entrepreneurship, innovation and training in the EU Internal Market
- EU Budget and possibilities of financing entrepreneurship through EU funds
- Specifics of business in individual EU Member States
- Business frameworks for European companies outside the EU
- Case study analysis of business on the European Internal Market
EU Business Policies and the Internal Market
3
15
15
0
Elective 2
Expected learning outcomes
Upon completion of the course the students will be able to:
- Distinguish the main institutions and instruments for the implementation of the European (micro) economic policies, and consider the factors that affect the business aspects of regional economic integration;
- Explain the basic concepts related to the European Internal Market and its fundamental "freedoms", as well as to present aspects of specific common policies or issues of market integration in the EU;
- Critically evaluate the fundamental principles of the development of the European integration in the field of common actions, such as agriculture, competition, taxation, industry and transport.

Course content
- Historical and institutional frameworks of the EU
- Specifics of decision-making in the field of EU common policies
- The EU funding system
- Microeconomic analysis of European integration
- Preferential liberalization and the foreign trade position of the EU
- The European Internal Market and fundamental concepts of economic policies in the EU
- The evolution of market integration and "fundamental freedoms" in the EU
- European services market and freedom of establishment
- Specifics of financial integration in the EU
- Common Agricultural Policy in the EU – CAP
- Location effects, economic geography and regional policy
- EU competition and state aid policy; consumer protection in the EU
- Tax harmonization in the EU
- European industry, technological development and innovation
- European transport, energy and fisheries policy.
International financial markets
3
15
15
0
Elective 2
Course objectives
The objective of the course is to provide students with the knowledge of the elements of the financial system and modern processes in international financial systems. Special emphasis is placed on international financial markets, financial instruments, and international institutions.

Course content
- Introduction to international financial markets
- Concept, functions and types of financial markets: primary, secondary, tertiary, quaternary markets; short-term and long-term markets; debt and equity markets; stock exchanges and over-the-counter markets
- Efficiency of the securities market
- Foreign exchange markets: basic functions and operations in the foreign exchange market
- Financial instruments: stocks and bonds
- Financial innovation
- International financial markets: participants and structure of international markets
- Euro money market, euro deposits, euro banks
- Offshore business and financial centers
- International capital market: market for Eurobonds, Eurocredits, foreign bonds
- Institutions of the international financial system: IMF, World Bank, European Investment Bank, European Bank for Reconstruction and Development, Council of the Europe Development Bank
- Modern processes in the financial system: processes of financial globalization, deregulation, securitization and conglomeration
- Financial crises
- International capital markets (Euronext, NASDAQ, London Stock Exchange, Paris Stock Exchange, Tokyo Stock Exchange)
- National financial markets: capital markets in post-transition, capital market in the Republic of Croatia



Elective course 3:
ECTS
Lectures
Seminares
Practice
Type
Business aspects of Database Management Systems
3
15
0
15
Elective 3
Course objectives
Course objectives of the course Business aspects of Database Management Systems are to teach students how to elaborate a theory related to the business aspects of database management systems, parts of database management systems by using models of database management systems and how to use Oracle’s database management system in developing solutions for business.

Course content
- introductory considerations related to business aspects of database management systems
- theory related to business aspects of database management systems
- examples of companies that use business aspects of database management systems
- theory of advanced normalisation of data and tables and theory of model of database management systems
- selected ethical issues related to business aspects of database management systems
- future tendencies of progress of database management systems
- examples of business aspects of Oracle database management system in data conceptualisation
- examples of business aspects of Oracle database management system in data modelling
- examples of business aspects of Oracle database management system in defining database requirements
- examples of business aspects of Oracle database management systems in translating from diagrams to databases
- examples of business aspects of Oracle database management system in creating database objects
- examples of business aspects of Oracle database management system in establishing connections between data
- examples of business aspects of Oracle database management system in advanced normalisation of data and tables
- examples of business aspects of Oracle database management system when using SQL
- examples of business aspects of Oracle database management system in creating graphical user interfaces for databases

Ivan Uroda , PhD, Assistant Professor
Chair: 47/II
E-mail: ivan.uroda@efri.hr
Phone: (051) 355 151
Energy markets
3
15
15
0
Elective 3
Course objectives
The objective of this course is to provide students with knowledge and understanding of current and structural changes in energy markets and the regulatory framework of reforms that are changing the energy business environment in order to understand the specifics of energy markets. Understanding trends in energy is necessary for a critical examination of business models that ensure competitiveness in the time of rapid technological, organizational, and financial changes.

Course content
1. oil market - market analysis (supply, demand, prices) in the short and long term, reserves, end of oil era?
2. coal market - market analysis (supply, demand, prices) in the EU and worldwide, the growing role of coal in developing countries
3. natural gas market - analysis of the natural gas market (supply, demand, prices), gas as a transition fuel, gas in synergy with hydrogen
4. LNG market - supply, demand, prices
5. renewable energy market - market analysis, incentive schemes
6. electricity market - market analysis (prices, market models)
7. hydrogen as an energy source – the change in the energy paradigm
8. four packages of energy laws and reforms
9. the role and objectives of the regulatory energy agency
10. restructuring in the energy sector and unbundling of energy activities
11. privatization - models and experiences
12. results of reforms in the energy sector - analysis of selected countries
13. energy markets in the Republic of Croatia
14. energy strategy until 2030 with a view to 2050 - what awaits us?
15. energy poverty - the situation in the Republic of Croatia and in the EU, legislation


Local finance
3
15
15
0
Elective 3
Course objectives
Students should be familiarized with the concepts related to the functioning and financing of the lower levels of the public sector, especially the local units (cities and municipalities) of the public sector. To this end, they must be familiarized with the technique of preparation and items of local budgets, types of revenue of local units, and ways of financing local public expenditures. To achieve these goals, students must also acquire knowledge of fiscal decentralization and the problems of fiscal inequality of local self-government units.

Course content
- The concept and basic features of fiscal federalism
- Fiscal decentralization: trends, advantages, disadvantages
- Powers and responsibilities of local public authorities
- Decentralized functions and their financing
- Budgeting techniques and types of local government budgets
- Budgeting process of local units
- Revenues of local public authorities
- Local (own) and joint taxes
- Non-tax revenues of local authorities
- Fiscal inequalities and imbalances of local units
- Financing of local units - debt and borrowing
- Financing of local units - alternative financing models
- Asset management of local units
- The Croatian system of fiscal federalism and comparison with other EU Member States
- Local economy in the Republic of Croatia
Saša Drezgić , PhD, Full Professor
Chair: 93/IV
E-mail: sasa.drezgic@efri.hr
Phone: (051) 355 129
Compulsory courses::
ECTS
Lectures
Seminares
Practice
Type
Cross cultural communication and business negotiation
6
30
30
0
Compulsory
Course objectives
Objective of this course is to meet students with basic concepts, approaches, behaviors and situations in business negotiation. This course will provide students practical and theoretical knowledge, basics for their application and resolving specific problems companies face with in each business segment. Focus will be especially on communication skills and understanding cultural influences on business negotiation and business customs of particular countries

Course content
1. Theoretical framework of business negotiation
2. Negotiation principles and basic rules
3. Internal negotiation and negotiation between different groups and organizations
4. Identifying negotiation subject
5. Negotiation planning and preparation. Hierarchical approach. Negotiation power. Increasing negotiation power
6. Cross cultural negotiation strategies
7. Factors of successful negotiation
8. Negotiation zone. Concessions.
9. Contemporary business trends. Business protocol
10. Negotiation tactics and effective tactic choice. Multiple tactics usage.
11. Impact of cross cultural differences on negotiation.
12. Successful negotiation closure.
13. Usage of intermediaries and arbitation
14. Negotiation with international institutions and its specifics
15.Negotiation techniques in particular situations

Heri Bezić , PhD, Full Professor
Chair: 60/III
E-mail: heri.bezic@efri.hr
Phone: (051) 355 148
Decision Theory
3
15
15
0
Compulsory
Course objectives
- Develop analytical thinking skills for decision making of economic, financial or managerial nature
- Enable students to successfully combine quantitative methods with standard decision making process in situations that should be made under uncertainty and risk conditions.
- Introduction to adequate analytical packages for solving concrete problems.

Course content
During the course, students will be introduced with basic concepts in normative, descriptive and prescriptive decision theories. Through each decision theory, students will be introduced in details with concepts and methods that will manage easier decision making.

Topics that will be lectured are:

DECISION THEORY
- Basic concepts
- Historical development of decision theory
- Classification of Decision theory
- Normative decision theory
- Descriptive decision theory
- Prescriptive decision theory
MATRIX GAMES
- Classification of games
- Zero-sum games
- Saddle point and minimax theorem
- Solution of mixed strategies games
- Garaphical solving
- Solving matrix game using dominance
- Games against the nature
- Game theory and etics
DECISIONS UNDER IGNORANCE, UNCERTANITY AND RISK
- Preference ordering
- The Maximin rule
- The Minimax regret rule
- The optimism-pesimism rule
- Expected monetary value(EMV)
- Expected oportunity loss (EOL)
PSIHOLOGICAL ASPECTS OF DECISION MAKING
- Personal values and ethics in decision making process
- Emotions in decision making process
- Psihological traps
Heuristics in decision making process and their limitations
- Basics of multicriterial decision making process

Economics and International Trade Policy
6
30
30
0
Compulsory
Course objectives
To deepen the knowledge in the field of international trade policy, its instruments, measures and mechanisms that significantly affect the competitive position of the national economy, but also its individual subjects, and upgrading basic knowledge on issues of international trade and monetary relations as well as globalization, regionalism and multilateralism. This knowledge represents a basis for mastering the content related to the position of a particular country and the Republic of Croatia in the international economic and business environment.

Course content
- The position of countries in the global economy and international trade
- Analysis of international trade and international competitiveness; key indicators of international trade and competitiveness
- Development of foreign trade concepts
- International trade policy - basic concepts; analysis of customs tariff protectionism
- International trade policy - analysis of non-tariff protectionism and international trade agreements
- Determinants of contemporary international trade, global institutions, international trade agreements and changes in global trade flows
- Economic globalization, liberalization and regionalization of international trade - effects on economic structure, competitiveness, trade and business internationalization
- Global supply chains, the importance of economic geography and economic diplomacy
- Enterprises in the global economy, the importance of multinational companies and the global role of ethics in business
- The Common Trade Policy of the EU
- Contemporary trade policies: American, Japanese, British etc.
- Controversies in international trade: technology and the digital economy, labour and migrations, environment and security, inequality and poverty
- Trade policies of developing countries and the position of fast-growing economies
- Macroeconomic policy in the open economy and problems related to foreign exchange policy
- Financial globalization, international investment and financial crises.


Exchange rate policies and instruments
6
30
30
0
Compulsory
Course objectives
The basic goal of the course is to enable students in macro and micro analysis of exchange rate policies and their instruments in order to effectively manage them. Additional objectives are: to identify the institutional structure of exchange rate policies as well as transmission mechanisms, to evaluate the choice of exchange rate regimes, to evaluate the effectiveness of macro and micro exchange rate policy instruments and to train students in applying methods and techniques of financial derivatives in exchange rate risk management.

Course content
1st learning outcome
- introduction: concept and definition of exchange rate policies, micro and macro exchange rate policy management
- institutional structure of exchange rate policy: domestic and international institutions and markets
- concepts and exchange rate taxonomy: nominal and real exchange rate, cross exchange rates, etc.

2nd learning outcome
- exchange rate regimes
- exchange rate regimes choice theory
- exchange rate regimes: performance analysis

3rd learning outcome
- exchange rate policy theories: exchange rate determinants, fundamental analysis, monetary and portfolio exchange rate theory
- contemporary exchange rate theories
- exchange rate market (foreign and domestic): analysis of characteristics and participants
- instruments of macro exchange rate management and exchange rate strategy
- analysis of macro exchange rate management instruments: examples
- micro exchange rate management: exchange rate risk management
- currency risk: exposure and measurement
- currency risk hedging methods
- internal and external methods of protection
International Logistics
6
30
30
0
Compulsory
Course objectives
Students should acquire basic knowledge of theoretical and practical phenomena of international logistics.

Course content
The Concept, Development and Importance of Studying International Logistics, International Logistics and Competitiveness Advantage (LPI index), International Logistics, Logistics Chains and Logistics Networks, Outsourcing of Logistics Activities, Logistics Processes in International Business, International Transport and Infrastructure, Intermodal and Multimodal Transport, Multimodal Transport Operators, Planning of Warehouses and Distribution Centres in the Logistics Network, Inventory Management on Global Market,
Logistic Aspects of Packaging for Exports, Logistics Intermediaries in International Business, Activities of International Freight Forwarders and Other Logistics Operators, International Trade Terms – INCOTERMS, International Trade and Transport Documents.
Research Methodology
3
15
15
0
Compulsory
Course objectives
To provide basic knowledge about the methodology of scientific research as well as about writing of scientific and professional papers and to induce the students into scientific research.

Course content
Methodology as "meta science". Special features of economic science. Objectives of science: explanation and truth. What is knowledge? Taxonomy of science. The place of economics in the system of sciences. Formation of scientific theory and scientific knowledge. Theories, hypotheses and models. Models in economics. Inference in sciences: induction and deduction. The language of scientific theory: the role of mathematics and econometrics. Confirmation, verification and falsification of theory. Indicators, factors, and determinants. A descriptive theory, an explanatory theory and a proof theorem. Deductive nomological, inductive statistical and causal mechanical models of explanation. Correlation and causality: "Post hoc ergo propter hoc" error. Determining variables and testing hypotheses: observation, measurement and statistical experiment. Descriptive and inferential statistics. Basic groups of methods of inferential statistics: time series analysis, univariate, bivariate and multivariate statistical analysis and panel analysis. A critical review of research methods used in scientific research examples.

Davor Mance , PhD, Assistant Professor
Chair: 87/IV
E-mail: davor.mance@efri.hr
Phone: (051) 355 144
Compulsory courses::
ECTS
Lectures
Seminares
Practice
Type
Big data analytics
6
30
0
30
Compulsory
Course objectives
The digitalization of business and the proliferation of social media contribute to the creation of big data. The objective of the course is to give students the general understanding of the concept of big data, to reveal the hidden informations by different methods of predictive analytics, and to present examples of the application of big data analytics in practice.

Course content
The concept of big data analytics. Characteristics of big data. Examples of big data analytics in practice. Data preprocessing. Introduction to data mining. Supervised and unsupervised learning. Decision trees for classification. Decision trees for regression. Mining of association rules. Cluster mining. Deployment of the model. Ensemble of the models. Introduction to text mining. Selected text mining methods. Selected methods for web data extraction.

Ana Štambuk , PhD, Associate Professor
Chair: 88/IV
E-mail: (051) 355 132
Phone: ana.stambuk@efri.hr
International marketing
6
30
30
0
Compulsory
Course objectives
Provide students with knowledge of marketing strategies and activities in the international market.

Course content
Basics of the international marketing. Culture as a determinant of the international environment. Other
factors of the international environment. International marketing research. Consumers in
international markets. Foreign markets entry strategies. Strategies of expansion and globalization on foreign markets. Market segmentation and positioning. Creating a brand for international markets.
Product in international marketing. Pricing in foreign markets. Distribution in international markets. Promotional mix of international marketing. International marketing plan. Trends in international marketing, ethics and social responsibility.
Risk management in international business
6
30
30
0
Compulsory
Course objectives
The objective of this course is to provide students with the knowledge and understanding of modelling trends in the field of risk management in the international markets. The course gives a theoretical, practical and analytical base for measuring and managing risks in global business. Furthermore, the aim is to introduce students to the latest methods and econometric models in risk modelling as well as advanced statistical and mathematical methods used in this field.
The aim of this course, apart from providing students with theoretical knowledge, is to provide them with practical competences that are essential to international business. The main focus of the course is on quantitative modelling and backtesting of models used in international risk management.

Course content
1. The concept of risk and risk management
2. Theoretical introduction to risk management
3. Financial crises
4. Duration
5. Duration gap
6. Modern portfolio theory
7. FX risk
8. Interest rate risk
9. Risk measurement methods
10. Value at Risk method
11. Application of the value at risk method in measuring FX risk
12. Application of the value at risk method in measuring interest rate risk
13. Liquidity risk
14. Operational risk
15. Strategic risk

Saša Žiković , PhD, Full Professor
Chair: 38/II
E-mail: sasa.zikovic@efri.hr
Phone: (051) 355 125
Wolfgang Hardle Karl , PhD, Full Professor
Chair: 38/II
E-mail:
Phone: (051) 355 125
Elective course 1:
ECTS
Lectures
Seminares
Practice
Type
Corporate Social Responsibility
3
15
15
0
Elective
Course objectives
Introducing students to advanced concepts of Corporate Social Responsibility (CSR) as a business platform, with application of CSR models in companies, associations and organizations to ensure long-term sustainability within essential aspects of doing business.

Course content
- Development and theoretical foundations of Corporate Social Responsibility (CSR).
- Social sustainability and business ethics.
- Concept of the Triple Bottom Line (TBL).
- Stakeholder Theory.
- Stakeholder Management.
- Social Entrepreneurship.
- Integration of financial, environmental and social aspects of business performance.
- Relevance of CSR reporting.
- Data sources used for integrated business performance.
- Relationship between financial results and non-financial business risks.
- Aspects of Sustainable Value Added creation (SVA).
- Analysis of Sustainable Value Added.
- Stakeholder distribution of sustainable value.
- Managerial paradigm of integrated business valuation.
Goran Kutnjak , PhD, Full Professor
Chair: 94/IV
E-mail: goran.kutnjak@efri.hr
Phone: (051) 355 103
Global Value Chains Analysis
3
15
0
15
Elective
Course objectives
The objective of the course is to familiarize students with the concept of global value chains and their importance in economics. It will also enable students to use quantitative methods to analyze the degree of integration, position and movement within global value chains. Special attention will be paid to the length of the chain and the specifics of the chain of individual industries.

Course content
The course contains the following thematic units:
- Fragmentation of production, vertical specialization
- The emergence and development of global value chains
- The effects of global value chains on the economic competitiveness of countries
- Integration of countries (companies) into global / regional value chains
- Moving through the supply chain of values
- Position in the chain - upstream and downstream position in the global value chain
- Global vs. regional value chains
- Specifics of regional value chains
- Chain length - specifics of the agricultural and food and beverage industries
- Chain length - specifics of the chemical industry, motor vehicle industry, computer industry and other electronics
- Chain length - specifics of the financial and other services industry
- Croatia in global value chains
- Workforce structure and global value chains
- Intangible assets in global value chains
- Protection of intellectual property in global value chains

Industrial Organization
3
15
15
0
Elective
Course objectives
The Industrial Organization course will provide students with a deeper understanding of market structure, market efficiency and interaction between different players in these markets (businesses, consumers, regulators, competition authorities, etc.).

Course content
1. Introduction
2. Historical background for theory development
3. Market structure and strategic behavior of firms
4. Market performance (social effects of limiting choices)
5. Defining markets and measuring market concentrations
6. Rivalry in oligopolistic conditions; related action
7. Dominant position - concept and determinants
8. Doctrines related to the public response to the dominant position of firms
9. Pricing strategies and market segmentation
10. Vertical and horizontal differentiation of products and services
11. Price competition (price policy)
12. Sales efforts (promotional activities)
13. Differentiation of supply and sales channels
14. Research and development as a model of differentiation; technology-based strategies
15. Protected information (economic and social side of intellectual property protection)
Danijela Sokolić , PhD, Associate Professor
Chair: 36/II ili 68/III
E-mail: danijela.sokolic@efri.hr
Phone: (051) 355 196
Information Systems for Decision–Making Support
3
15
15
0
Elective
Course objectives
The aim of the course is to make students familiar with the possibilities and functioning of the information system in the function of decision support and accordingly, consider, explain and apply methods and concepts of using the information system in business decision making and computer-supported models in decision problem solving.

Course content
1. Introduction to the Program, Mission of the Course, Literature, Teaching Contents and Activities, Seminar work, Midterms, Final Exam.
2. Information systems and decision making. Definition, structure, and relationship between information systems and decision making.
3. Business decision making - definition, structure, phases, assignments, functions and features.
4. Stages of the decision-making process and support of information systems.
5. Methods, concepts and examples of using information systems to decision-making support.
6. Types of information systems in business decision making. Intelligent and interorganizational information systems.
7. Analytical modeling and design of decision problem in business.
8. Use and relationship between formulas, functions and tools in analytical modeling.
9. Solver and mathematical programming in the Excel spreadsheet interface
10. Solver as a development tool in designing and solving business decision models.
11. Solver and binary programming in the design of a dimensional model of assignment problem
12. Model of assignment problem in solving project selection problems
13. Case Studies. Application of decision support systems in problem analysis, modeling and solving a decision problem.
14. Visual Basic for Applications (VBA) in modeling and programming a decision problem.
15. Thematic discussions in discussion groups (Google Groups).


Integrated business processes
3
15
0
15
Elective
Course objectives
The first objective is to show students and teach them how to apply the latest advances in information solutions developed by SAP (SAP S/4HANA), so that they can use their full potential by applying the acquired knowledge to optimise business processes and in that way be competitive in the labour market.
The second objective is to present the flow of documentation and to record individual transactions ranging from the process of inquiry and procurement of materials, through production and sales to accounting. The prerequisite for understanding SAP is knowledge of economics of business and analysis of individual business processes. SAP software solutions provide a database that is important for monitoring the entire business process, that is used for the needs of analysing and reporting on a business results of a company.

Course content
- Introduction to SAP S/4HANA, “Global Bike” Concept for University, SAP FIORI and SAP GUI
- Lectures, case studies and exercises according to the listed parts
- Material management: organisational units and master data
- Production planning: organisational units, master data
- Production process: Sales planning, Schedule of main products, Planning of required materials, Order
- Going through the production process
- Sales and distribution: Organisational units, master data, Order process
- Financial Accounting: Organisational structure, master data, Processes, Reporting
- Managerial Accounting / Controlling: organisational structure, master data, procedures and reporting

Ivan Uroda , PhD, Assistant Professor
Chair: 47/II
E-mail: ivan.uroda@efri.hr
Phone: (051) 355 151
International Business Environment
3
15
15
0
Elective
Course objectives
Apply the acquired knowledge of remote business environment analysis methodology to the examples of different economies to understand the extent of variability, number and complexity of factors that determine business in different geographical areas and national economies.

Course content
- Development of theoretical approaches to the business environment;
- Theories of the firm as an open system - interpretation of the meaning of the business environment;
- Business environment in institutional theory, economic organization theory and resource dependence theory;
- Business environment in the model of population ecology and in the theory of structural contingency;
- Paradigm of bounded strategic choice as a framework for interpreting the interaction between the firm and the business environment;
- Application of the methodology PEST in the analysis of the business environment of a given economy;
- Modeling the uncertainty of the business environment using an objective approach;
- Modeling the uncertainty of the business environment using a perceptual approach;
- Measuring the quality of the business environment of economies;
- Composite indices as a basis for comparing the quality of the business environment of economies;
- Corporate economics as the prevailing model of corporate functioning in the international business environment;
- Ecological-social-market economy as the model for achieving long-term sustainable growth in international business;
- Trends in the international business environment and implications for business;
- Diversity of business regulation in specific business environments;
- Specifics of cultural dimensions in international business environment and impact on business.
International commercial law
3
15
15
0
Elective
Course objectives
Acquisition of knowledge about specific institutes of international commercial contracts, especially sale of goods contract. In addition, the obligations law elements of sale of goods contracts are analysed. Emphasis is placed on the international legal sources that are applied in a particular case, as well as the relationship of these international legal sources to national law. The development of European Union law and its impact on the development of a sale of goods contract is also discussed. The goal is to provide the student with a complete picture of an international trade transaction cantered on an international sales of goods contract.

Course content
- The course consists of 4 main thematic units:
A) Subject and sources of international commercial law or lex mercatoria,
1. International commercial law or lex mercatoria; 2. Legal sources of international commercial law, 3. Organizations with important role in creation / unification of international commercial law; 4. Concept and meaning of lex mercatoria, 5. UNIDROIT Principles of international commercial contracts;

B) Influence of European Union law on development of commercial sale of goods contract
1. Principles of European Contract Law (PECL); 2. Legal sources of European Union which influence commercial sale of goods contracts

C) Formation of the sale of goods contracts
1. Negotiations under international and national legal sources; 2. Application of general business conditions; 3. Battle of forms; 4. Offer and counter-offer; 5. Revocable and irrevocable offers; 6. Precontractual liability

D) Analysis of the UN Convention on Contracts for the International Sale of Goods (CISG)
1. Application of the CISG; 2. Interpretation of the CISG; 3. Interpretation of the parties’ intent under the CISG; 4. Formation of the contract under the CISG; 5. Fundamental breach of the contract under the CISG; 6. Termination of the contract under the CISG; 7. Delivery of goods under the CISG 8. Conformity of the goods under the CISG; 9. Buyers’ rights in case of the breach of the contract; 10. Sellers’ rights in case of the breach of the contract; 11. Transfer of risk over the goods; 12. Indemnity; 13. Vis majeure and impossibility to fulfil the contract.
Labor Economics
3
15
15
0
Elective
Course objectives
The aim of the course is to adopt basic theories that help to understand how decisions involving work are made. The course focuses on the study of the labor market, labor market institutions (e.g. trade unions), public policies related to labor markets (e.g. immigration or minimum wage), wage structure (e.g. income inequality) and the economics of human resource management (e.g. incentive wages).

Course content
1. Introduction to labor economics
2. Labor Supply
3. Labor demand
4. Labor Market Equilibrium
5. Factors influencing the structure and dynamics of the labor market
6. The role of education and training in the labor market
7. Wage structure
8. Labor mobility
9. Labor market discrimination
10. Labor market regulation
11. The problem of unemployment: level, structure and dynamics of development.
12. Labor unions
13. Labor market flexibility
14. National labor maket
15. European labor markets



Danijela Sokolić , PhD, Associate Professor
Chair: 36/II ili 68/III
E-mail: danijela.sokolic@efri.hr
Phone: (051) 355 196
Pharmacoeconomics
3
15
0
15
Elective
Course objectives
The aim of the course is to provide students with an insight into the field of pharmacoeconomics, its basic determinants and tools. The course deals with cost-effectiveness assessments of health technology using economic evaluations - from measuring and evaluating health outcomes to measuring and calculating intervention costs and interpreting evaluation results.

Course content
1. Introduction - why pharmacoeconomics?
2. Drug policy, regulatory framework and drug market organization
3. Economic evaluations of health technologies and economic theory. Decision-making based on the results of economic evaluations
4. Types of economic evaluations
5. Budget impact analysis
6. Sensitivity analysis and interpretation of results
7. Distributive justice in health care or how to modify decision-making based on cost-effectiveness
8. HTA - health technology assessment
9. Application of HTA and economic evaluations in healthcare decision-making - EU experiences and application in Croatia
10. Measurement and estimation of direct costs of health technologies
11. Measurement and estimation of indirect costs of health technologies
12. Measuring health outcomes
13. Evaluating health outcomes
14. Outcomes of health technologies, clinical trials and actual efficacy of drugs
15. How to improve the drug policy, regulatory framework and organization of the drug market in Croatia and the EU?

Ana Bobinac , PhD, Assistant Professor
Chair: 92/IV
E-mail: ana.bobinac@efri.hr
Phone: (051) 355 158
Transport and Maritime Economics
6
15
15
0
Elective
Course objectives
Students should acquire basic economic knowledge about the elements and processes of production of transport services in transport and maritime affairs and the role of transport and maritime affairs in economic growth and development.

Course content
Theoretical Determinants of Transport and Traffic, Transport Systems, Modes of Transport, Transport Infrastructure, Transport Suprastructure, Transport Policy, Contemporary Transport Technologies, Transport Costs, Transport System and the Environment, Maritime Affairs, Specifics of the Maritime Market, Maritime Market and Global Economy, Role and Importance of Ports in Economic and Transport System, Maritime Trade, Transport Corridors.
Elective course 2:
ECTS
Lectures
Seminares
Practice
Type
Business communication skills in German 2
3
15
15
0
Elective 2
Course objectives
Improving language competencies, acquiring the language structures needed for oral and written communication in certain business situations with companies coming from German-speaking areas, acquiring expert terminology, mastering the business context and cultural differences in German-speaking countries, deepening the awareness of the intercultural aspects of communication in German in an international business environment, developing team spirit through research and preparation of seminar papers, as well as through the evaluation of verbal and non-verbal elements of their colleagues’ oral presentations, role play, problem solving activities and negotiation.

Course content
Rules of communication: verbal and non-verbal communication (A2 level). Cultural differences in international business communication. Public appearance and presentations. Negotiation. Business correspondence. Language structures, collocations, phrases and idioms related to the field of study and in accordance with the level of language competency (A2).
Topics and language structures: Marketing; Advertising; Inquiry; Offer; Forms of politeness (Konjunktiv II); Order; Business attire; Complaint; Job interview; CV; Job application; Economic sectors, companies and products; Dependent clauses; Business ideas; Legal forms of companies; Business advice; Telephone communication; Fairs.

Kornelija Čakarun , MA Lecturer
Chair: 81/IV
E-mail: kornelija.cakarun@efri.hr
Phone: (051) 355 157
Daniela Kružić , MA Lecturer
Chair: 80/ IV
E-mail: daniela.kruzic@efri.hr
Phone: (051) 355-189
Business communication skills in Italian 2
3
15
15
0
Elective 2
Course objectives
Improving language competencies, acquiring the language structures needed for oral and written communication in certain business situations with companies coming from Italian-speaking areas, acquiring expert terminology, mastering the business context and cultural differences in Italian-speaking countries, deepening the awareness of the intercultural aspects of communication in Italian in an international business environment, developing team spirit through research and preparation of seminar papers, as well as through the evaluation of verbal and non-verbal elements of their colleagues’ oral presentations, role play, problem solving activities and negotiation.

Course content
Rules of communication: verbal and non-verbal communication (A2 level). Cultural differences in international business communication. Public appearance and presentations. Negotiation. Business correspondence. Language structures, collocations, phrases and idioms related to the field of study and in accordance with the level of language competency (A2).
Topics and language structures: Job interview; CV; Job application; Advantages and disadvantages; Education system; Economic sectors, companies and products; Legal forms of companies; Business counselling; Organizational structure of the company; Circular letter; Marketing; Advertising; Inquiry; Offer; Complaint; Business attire.
Daniela Kružić , MA Lecturer
Chair: 80/ IV
E-mail: daniela.kruzic@efri.hr
Phone: (051) 355-189
Compulsory courses::
ECTS
Lectures
Seminares
Practice
Type
Undergraduate studies Graduate studies Postgraduate studies Study Programs in English

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