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Grading

To get the required passing score for each subject from the curriculum, the student must successfully (completely, timely, with quality and dedication) to perform the tasks set by professors. Final estimates are obtained based on the following criteria:

  • Attendance at lectures (10%)
  • Activity at lectures (10%)
  • Research activities (20%)
  • Successfully passed colloquia / final exam (60%)

 

According to the Law on Higher Education of the Republic of Macedonia and the European Credit Transfer System (ECTS), IBF assessment uses the following scale:

 

MACEDONIAN SCALE

ECTS
SCALE

DEFINITION

10

A

EXCELLENT - outstanding performance with only minor errors

9

B

VERY GOOD – above-average standard but with some errors

8

C

GOOD - generally sound work with a number of notable errors

7

D

SATISFACTORY - fair but with significant shortcomings

6

E

SUFFICIENT - performance meets the minimum criteria

5

FX

FAIL - more work required before the credit can be awarded

5

F

FAIL - considerable further work is required

 

 

The final assessment of the module is determined based on average results achieved by the final exam and planned activities that the student earned during the semester. The specific requirements of the modules are determined by the FBE, with special attention being given to students who are distinguished by their talent, commitment and action. Namely, for each module from the curriculum several thematic research activities are provided which students realize through team work under supervision of the professor. Depending on the demonstrated quality (depth and scope of research and knowledge), the best students will receive the highest grade.
If the student does not get 6 or higher grade it means that he/she did not pass the exam and will have to take the same exam again. The less successful students have the opportunity for additional training, consulting and various other extracurricular activities so as to pass the minimum required for passing grade.
For undergraduate studies in Business Economics, for each of the five available programs a corresponding (in this case maximum) number of credits and points have been anticipated. In accordance with the proposed allocation of credits, corresponding to the total scope of engagement of the professors and students, about 1500 – 1800 working hours on average have been planned for surmounting the entire curriculum (number of classes planned, lecturing- ex cathedra, exercises envisioned as modules for practical application and independent work of the students to learn the lessons).
Practically, the groups will be consisted of 25-30 students, with daily schedule of 4 classes lectures-ex cathedra, 2 classes of exercises (in appropriate combination of teaching and exercises through practical simulation in the modules, in order to be implemented) and 2-3 hours independent work of the students. Based on such dynamics and schedule of activities during each of the 6 semesters, the required number of 180 credits will be realized.
The grading of the students results will be done periodically, for each semester, through 2 colloquiums. and a final exam at the end of the semester. The final grade will be determined based on the previously mentioned criteria for attendance and activity at lectures, research activities and successfully passed colloquia / exam.
The students who will collect

  • From 50% to 60% of the number of points will get an average grade 6 for the studies
  • up to 70% of the number of points will get an average grade 7 for the studies
  • up to 80% of the number of points will get an average grade 8 for the studies
  • up to 90% of the number of points will get an average grade 9 for the studies
  • up to 100% of the number of points will get an average grade 10 for the studies

 

The following is planned according to the principal concept of the Integrated Business Faculty:

  • During the first academic year, all students (regardless of the program they select during the third year of studies) to acquire knowledge in the fundamentals of business economics, through appropriate representation of certain scientific disciplines (macroeconomics, mathematics, statistics, financial accounting, microeconomics, business law and English language).
  • During the second academic year, it is again planned for students to acquire a certain quantum of fundamental knowledge for all students (management accounting 1 and 2, managerial economics, corporate finance, integrated business approach). Apart from these, so called fundamental courses, compulsory for all students, a possibility for electives is planned i.e. the students can also study additional lessons in entrepreneurship, GIS 1, economics of regional integration and marketing basics.
  • During the third academic year, it is planned for students to specialize in the selected program. Therefore, suitable fundamental (compulsory) courses are anticipated for each program. However, in order to meet the individual interests of the students, an opportunity has been given for them to select another two courses from the list of elective courses for each respective program.

 

Following the successful completion of the planned activities during the three-year studies, students will also have to prepare a graduation paper. After the successful public presentation of the graduation paper, the students will acquire a diploma as:

  • Economist in Financial Management
  • Economist in Marketing Management
  • Economist in Sustainable Development - Environmental Economy
  • Economist in Regional and Local Business Development
  • Economist in Banking

Tuition

Undergraduate Studies 

1. The price of full time studies at the "Integrated Business Faculty" (IBF) is 500 € per year.
 
The payment should be done entirely, in denars according to the average foreign currency rate of the National Bank of the Republic of Macedonia on the date of payment.

The exam application fee in each regular examination session is 10 €. 
   
Verification of the semester: 
• from 1st to 20th December 50 € 
• from 1st to 20th May 50 € 
   
The payment for exam application and the verification of the term is done in denars according to the average foreign currency rate of the National Bank of the Republic of Macedonia on the date of payment.

 

2. The tuition for part time studies at the IBF is 600 € per year. 


The payment should be done entirely, in denars according to the average foreign currency rate of the National Bank of the Republic of Macedonia on the date of payment.

The exam application fee in each regular examination session is 10 €. 
   
Verification of the semester: 
• from 1st to 20th December 50 € 
• from 1st to 20th May 50 € 
   
The payment for exam application and the verification of the term is done in denars according to the average foreign currency rate of the National Bank of the Republic of Macedonia on the date of payment.

 

Specialized professional studies 


The tuition fee for specialized professional studies at the IBF is 1000 € per year. 

Payment can be made in full amount or in two instalments, in according to the average foreign currency rate of the National Bank of the Republic of Macedonia on the date of payment

Enrolment of students

"The Integrated Business Faculty" (IBF) has a policy of free admission which includes willingness to provide a place for each candidate who meets the requirements to be included in the academic program.


Undergraduate Studies

Eligibility for enrolment
Applicants who are enrolled at the IBF undergraduate studies should meet the following terms:

  • A four year secondary education recognized / validated diploma in the Republic of Macedonia.
  • Passed high school graduation exam, state graduation exam or final exam for those who have completed a professional high school.

Applicants who have completed four years high school or adequate education abroad are eligible to enrol upon validation of the diploma by the Ministry of Education and Science of Republic of Macedonia

Transfer of students from other local and foreign universities is done on the basis of submitted transcripts and curricula.

Candidates enrol as full-time and part-time students with self-financing of the studies.

Enrolment documents

  1. Completed application (available at this web site or at the Student’s office)
  2. Original transcript of secondary education (for students who have completed secondary education before 2008 or outside the Republic of Macedonia) and copy with notary certification
  3. Graduation diploma for candidates who have completed secondary education in 2008.2009, 2010 and 2011 and a copy with notary certification.
  4. Original transcripts and copies with notary certification.
  5. Birth certificate and copy.
  6. One picture 6x9.
  7. Certificate of full-time employment and a copy of Form M1/M2 or medical certificate for part-time study (documentation supplied by part-time students).

 

Specialized professional studies

Eligibility for enrolment
Candidates admitted to the specialist professional studies of IBF should meet the following terms:

  • completed undergraduate studies with 180 credits

Applicants who have completed undergraduate studies outside the Republic of Macedonia are eligible to enrol upon validation of the diploma by the Ministry of Education and Science of Republic of Macedonia.
Candidates are enrolled with self-financing of studies.
Enrolment documents

  1. Completed application (available at this web site or at the Student’s office)
  2. Original diploma for undergraduate studies and completed copy with notary certification
  3. Original certificate and a copy with notary certification.
  4. Birth certificate and copy.
One picture 6x9.

What is business economics and why study at Intergrated Business Faculty

To understand what is business economics and why to study business economics, we will first try to clarify four fundamental terms of economic science:

• scarcity,
• resources
• use of alternative resources and
• economic compromise

What is scarcity?
Scarcity simply means that people want more than what is available, or when something is rare and not in sufficient quantities to fully satisfy one's desire or need.
We want more than we have at the moment. Consumers want more clothes, comfortable homes and better cars, but their national budgets can not withstand it. Businessmen (the companies) want to spend more on ads and introduce modern production machinery, but their budgets do not allow it. The same applies to the state which usually wants to spend more than it collected through taxes. So, we all want to buy more than we have available money. Therefore, with the money that we have, we need to decide what to buy. Hence, we can say that business economics, similar to the general economy, is a science of choice. Its aim is to meet the highest level of customer satisfaction, and the highest level of firm’s profitability.

What are resources?
Resources are factors of production (means of production) which firms use to produce goods and services. Resources are: land, labor force including skills and abilities of workers, machinery, buildings, raw materials, money etc.).

What is alternative use?
Not only scarcity, but also alternative use is also in the centre of the business economics. If each resources had only one use than things would be simple. However, water for example, can be used for production of juices as well as ice-cream, and many other products. The same holds true for other resources: human resources, forests, oil, iron, etc. The main issue that each firm should ask is: What amount of resources should be allocated for each use? Every firm does that in this way or another, successfully or unsuccessfully. To do that successfully is the objective of the business economics.

Why study business economics at the Integrated Business Faculty?
Because the study of individual scientific disciplines is integrated at IBF that is business economics, in addition to the study of certain subjects is taught through the simulation of complex economic reality, with multidimensional combination of various aspects of business. The uniqueness of this integrated approach is due to the fact that it is the only one applied in the country, thus enabling students, upon graduation, to fit into everyday business activities at the workplace. This is proven by:
- High rate of employment (80%) of our graduates,
- High grades for students’ knowledge and responsibility by companies where internship was conducted.

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