· AZERBAIJAN STATE OIL AND INDUSTRY UNIVERSITY / BA PROGRAMS SYLLABUS Course unit title English 1...

APPENDIX 10: MODULE DESCRIPTIONS

AZERBAIJAN STATE OIL AND INDUSTRY UNIVERSITY / BA PROGRAMS

SYLLABUS

Course unit title English 1

Course unit code ENGL 1101

Type of course unit Compulsory

Level of course unit First cycle Bachelor

Year of study 1st year

Semester when the course

unit is delivered

1st Semester

Number of ECTS credits

allocated

5

Name of lecturers Aghayeva Ulker

Class information Location: Rooms

Time:

Contact: [email protected]

Office hours- upon students’ appointment

Learning outcomes of the

course unit

Course Description

This course is intended for use by students preparing for a career in business.

Language enhancement activities combine some of the most stimulating recent

ideas from the world of business with a strongly task- based approach.. While

authentic language has been maintained a vocabulary study is included to each

chapter treating both the technical and sub technical terms that are used in the

readings. This course will further give the students the opportunity to speak on

general topics, to communicate in business environment and to understand texts on

business and finance in English speaking world. The course includes integrated

activities in a form of texts, letters, forms, contracts, tests etc. Role plays and case

studies are regular features of each unit. Throughout the course, students are

encouraged to use their own experience and opinions in order to maximize

involvement and learning.

The exercises fulfill a lot of purposes. They reinforce and consolidate what has

been heard, said, written and seen, thus teaching four main skills of language:

listening, speaking, reading and writing. Collaborating with a partner or working

as a member of small students group will consider

different topics in business while improving their vocabulary and four above

mentioned skills.

Grammar section is intended to give practical aid to students. There are optional

extra components, including a Business Grammar and Usage book, a DVD-ROM

and a series of special subject books to develop vocabulary and reading skills.

Learning Outcomes of the Course:

After completing this course, students should be able to:

broaden and expand students proficiency and knowledge in English,

provide material for the students to revise, consolidate and extend their

command of English grammar and vocabulary ;

develop students reading skills to enable them to skim the text for

main idea, to scan the text for specific information, to interpret it for

inferences, attitudes and styles, to deduce meanings from the context;

develop the students writing skills to enable them to respond to input

applying information to a special task, to elicit, to select ,to summarize

information in a range of writing activities, such as essay, articles, reports;

develop the students listening skills to enable them to understand and

apply specific information from the input

develop students ability to apply knowledge of the language system

Mode of delivery (face-to-

face, distance learning)

Face-to-face

Prerequisites and co-

requisites

None

Recommended optional

programme components

NA

Recommended or required

reading

1. Chris Redston and Gillie Cunningham Face 2 Face. Second Edition.

Intermediate. Student’s book. Cambridge University Press. 2013.

2. Chris Redston and Gillie Cunningham Face 2 Face. Second Edition.

Intermediate. Workbook. Cambridge University Press. 2013.

Planned learning activities

and teaching methods

Classroom and case study discussions and brainstorming, feedback and

presentation sessions, discussion sessions

Language of instruction English

Work placement(s)

Course contents:

1 Be happy! Love it or hate it.

Vocabulary and speaking: Weekend activities. Likes and

dislikes. Reading: The secret of happiness. Listening. Help with

grammar. Writing.

Join the club! Nice to meet you.

Vocabulary and speaking: adjectives (1): feelings; prepositions

with adjectives. Skills: listening: an informal conversation.

Reading: a magazine article.

Unit1-A, B, C, D. [1,2]

2 Slow down! Street food.

Vocabulary: collocations (1): work. Listening and speaking.

Reading: Street food blog.

Unit 2 A, B. [1,2]

3

Sleepless nights. What’s the matter?

Vocabulary: sleep; gradable and strong adjectives; adjectives;

adverbs. Skills: Listening: a TV interview; Reading: a

newspaper article. Real world: showing concern, giving and

responding to advice.

Unit 2 C, D.

4

The tourist trade. Lonely planet.

Vocabulary and speaking: phrasal verbs (1): travel. Phrases with

travel, get and go on. Listening. Reading: The world’s greatest

travellers.

Voluntourism. A trip to India.

Vocabulary: Word building (1), suffixes for adjectives and

nouns. Skills: Listening: a radio interview; Reading: holiday

blogs. Real world: asking for and making recommendations.

Unit3- A, B, C, D [1,2]

5

Musical experiences. Modern adventurers.

Vocabulary: collocations (2): music; adjectives (2): character.

Skills: Listening, reading.

Unit 4-A, B, C, D [1,2]

6

Unusual days out. It’s only a game!

Vocabulary: guessing meaning from the context. Skills:

Reading: a magazine article; Listening: a radio discussion. Real

world: softening opinions and making generalisations.

Our new home. A load of old junk.

Vocabulary: homes; phrasal verbs (2). Reading: Just get rid of

it!

Listening and speaking.

Unit 4- [1,2]

Unit 5-A, B. [1,2]

7 Birthdays. Things I need.

Vocabulary: verb patterns (1). Materials.Skills: Reading: a

magazine article.

Real world: explaining what you need.

Unit 5-C, D. [1,2]

8 Midterm

9

Make up your mind. Fear of failure.

Vocabulary: make and do; reflexive pronouns. Reading: How to

measure success. Speaking and listening.

Touch wood. The village festival.

Vocabulary: synonyms. Skills: Listening: an informal

conversation; reading: a magazine article.

Unit 6- A, B, C, D [1,2]

10 Have a go! What would you do?

Vocabulary: goals and achievements; computers (1)

Skills: speaking and reading: about reality TV show.

Listening: Internet.

Social networking. Can you tell me?

Vocabulary: computers (2). Skills: Reading: a magazine

article. Listening: an informal conversation. Real world: indirect

and direct questions.

Unit 7-A, B, C, D [1,2]

11

Angry planet. Recycle! Dangers at Sea. A hiking trip.

Vocabulary and speaking: bad weather and natural

disasters; containers; world building (2): prefixes and

opposites. Skills: Listening: a TV news report. Reading: a

newspaper article.

Real world: warnings and advice.

Unit 8-A, B, C, D[1,2]

12 Get healthy! Good news, bad news. Human

behavior. At the doctor’s.

Vocabulary: health, collocations (3): the news; body

movements and responses; connecting words. Skills:

Reading: a magazine article. Listening: a TV interview.

Real world: what doctors say; what patients say.

Unit 9-A, B, C, D[1,2]

13 The anniversary. Who’s that?

Vocabulary and speaking: contacting people; describing

people. Skills: Listening: successful language.

I do! Do you mind?

Vocabulary: phrasal verbs (3) Skills: Reading: a

magazine article; Listening: a radio interview. Real

world: asking for, giving and refusing permission.

Unit 10-A, B, C, D [1,2]

14

• Any messages? How did it go?

Vocabulary: things people do at work; adjectives (3): jobs.

Skills: Listening and speaking: a radio interview. Reading: what

not to ask in an interview.

• Undercover. It’s my first day.

Real world: checking information. Vocabulary: verb patterns:

reporting verbs. Skills: Reading: a review; Listening: A Tv

programme.

Unit 11-A, B, C, D [1,2]

15 I wish! Important moments. Superheroes.

Vocabulary: informal words and phrases; phrases with get.

World building. Word families. Skills: Listening: a radio

interview. Reading: a magazine article.

Unit 12-A, B, C[1,2]

Final Examination

Workload Calculation

Activities Number Duration

(hour)

Total Workload

(hour)

Course duration in class 14 3 42

Preparation for Midterm Exam 1 15 15

Individual or Group Work 14 4 56

Midterm Exam 1 2 2

Homework 5 2 10

Preparation for the Final Exam 1 20 20

Final Exam 1 3 3

Total Workload 149

Total Workload/30(h) 5

ECTS Credit of the Course 5

AZERBAIJAN STATE OIL AND INDUSTRY UNIVERSITY / BA PROGRAMS

SYLLABUS

Course unit title English 2

Course unit code ENGL 1201



Year of study First year


unit is delivered

2nd Semester


allocated

5

Name of lecturers Ulker Aghayeva

Class information Location: Room:

Time:




course unit

Course Description

This course is intended for use by students preparing for a career in business.

Language enhancement activities combine some of the most stimulating

recent ideas from the world of business with a strongly task- based approach.

While authentic language has been maintained a vocabulary study is included

to each chapter treating both the technical and sub technical terms that are

used in the readings. This course will further give the students the opportunity

to speak on general topics, to communicate in business environment and to

understand texts on business and finance in English speaking world. The

course includes integrated activities in a form of texts, letters, forms,

contracts, tests etc. Role plays and case studies are regular features of each

unit. Throughout the course, students are encouraged to use their own

experience and opinions in order to maximize involvement and learning.

The exercises fulfill a lot of purposes. They reinforce and consolidate what

has been heard, said, written and seen, thus teaching four main skills of

language: listening, speaking, reading and writing. Collaborating with a

partner or working as a member of small students group will consider

different topics in business while improving their vocabulary and four above

mentioned skills.

Grammar section is intended to give practical aid to students. There are

optional extra components, including a Business Grammar and Usage book, a

DVD-ROM and a series of special subject books to develop vocabulary and

reading skills.



broaden and expand students proficiency and knowledge in English,

provide material for the students to revise, consolidate and extend

their command of English grammar and vocabulary ;

develop students reading skills to enable them to skim the text for

main idea, to scan the text for specific information, to interpret it for

inferences, attitudes and styles, to deduce meanings from the context;

develop the students writing skills to enable them to respond to input

applying information to a special task, to elicit, to select ,to

summarize information in a range of writing activities, such as essay,

articles, reports;

develop the students listening skills to enable them to understand and

apply specific information from the input

develop students ability to apply knowledge of the language system

Mode of delivery Face-to-face


requisites

ENGL 1101



NA


reading

1. David Cotton, David Falvey, Simon Kent: Market Leader- Business

English Course Book, Intermediate. Financial Times Publishing. Pearson.

Longman,2018

2. John Rogers: Market Leader- Upper Intermediate Business English

Practice File,Financial TimesPublishing . Pearson. Longman, 2010

3. 504 Absolutely Essential Words,Murray Bromberg,Julius Liebb, Arthur

Traiger .Barrons Educational Series,2012



Classroom and case study discussions and brainstorming, feedback and



Work placement(s) ASOIU

Course contents:

1

Unit 1: Brands Vocabulary & speaking: Brand management.

Listening: Successful brands.

Practice file.

Writing: emails.

Lesson 1. Essential Words

Unit1 p.6-8 [1]

p.1-3 [2]

p.1-3 [3]

2

Unit 1. Brands

Reading: Building luxury brands.

Language review. Practice file

Skills: taking part in meetings.

Case study: Hudson Corporation


Unit 2. Travel

Vocabulary and speaking: British and American

English.

Listening: Hyatt Hotels

Practice file.


Unit 1

p. 9-13 [1]

p. 5-6 [2]

p. 4-6 [3]

Unit 2

p. 14-16 [1]

p. 8, 9 [2]

p. 7-9 [3]

3

Unit 2. Travel

Reading: What business travellers want.

Language review. Practice file

Skills: Telephoning: making arrangements

Case study: Business travel services


Unit 2

p. 16-21 [1]

p.10 [2]

p. 10-12 [3]

4

Unit 3. Change

Vocabulary and speaking: Describing change.

Reading: Mercedes, shining star.

Practice file.

Writing: Practice file.


Unit 3. Change

Listening: Helping companies to change.

Language review. Practice file.

Skills: Managing meetings

Case study: Acquiring Asia Entertainment


Unit 3

p. 22-25 [1]

p. 12

p. 14-15 [2]

p. 13-15 [3]

Unit 3

p. 25-29 [1]

p. 13. [2]

p. 16-18 [3]

5

Unit 4. Organisation

Vocabulary and speaking: Company structure

Reading: A successful organisation.


Writing: email completing.


Unit 4

p. 36-39[1]

p. 16, 17 [2]

p. 21-23 [3]

6 QUIZ

Unit 4. Organisation Listening: Analysing company organisation

Skills: Socialising.

Case study: InStep’s relocation.


Unit 5. Advertising

Vocabulary and speaking: Advertising media and

methods.

Reading: A new kind of campaign.

Listening: How advertising works.


Unit 4

p. 40-43 [1]

p. 24-26 [3]

Unit 5

p. 44-45 [1]

p.27-29 [3]

7

Unit 5. Advertising

Skill: Starting and structuring presentations


Case study: Alpha Advertising


Unit 5

p. 48-51[1]

p. 20-22 [2]

p. 30-32 [3]

8 MIDTERM EXAM

9 Unit 6. Money

Vocabulary and speaking: Financial terms

Listening: Managing investments

Reading: An inspirational story

Practice file.


Unit 6. Money

Language review: Describing trends

Skills: Dealing with figures

Case study: make your pitch

Practice file.


Unit 6

p. 52-55 [1]

p.24[2]

p.33-35 [3]

Unit 6

p. 56-59[1]

p.25, 26[2]

p.36-38 [3]

10

Unit 7. Cultures

Vocabulary and speaking: Cultural differences. Idioms.

Listening: cultural awareness.

Reading: Culture shock.



Unit 7

p. 66-69 [1]

p.28.[2]

p. 41-43 [3]

11

Unit 7. Cultures.

Language review: advice, obligation and necessity.

Skill: Social English

Case study: Business culture briefing

Writing: Practice file


Unit 7

p. 70-73 [1]

p.29-31[2]

p. 44-46 [3]

12

Unit 8. Human Resources

Vocabulary and speaking: Employing the right people.

Reading: Women at work

Listening: Finding a job.



Unit 8

p.74-77[1]

p. 32[2]

p.47-49 [3]

13

• Unit 8. Human Resources


Skills: Getting information on the telephone.

Case study: Fast Fitness.

Writing: practice file.


• Unit 9. International markets

Vocabulary and speaking: Free trade.

Reading: Trade between China and the US.

Language review.

Listening and speaking: Negotiating



Unit 8

p. 78-81[1]

p. 33 [2]

p.34-35[2]

p.50-52[3]

Unit 9

p. 82-87[1]

p. 36-37[2]

p. 53-55[3]

14

• Unit 10. Ethics

Vocabulary and speaking: Right or wrong

Reading: The ethics of resume writing.

Listening: helping environmental research

Skills: Considering options


Unit 10

p.96-103[1]

p. 40-43 [2]

15

Unit 11. Leadership

Vocabulary, listening and speaking: Qualities of

leadership.

Reading: Leading l’Oreal

Skills: Presenting

Case study: Lina sports.


Unit 12. Competition

Vocabulary and speaking: Competition idioms.

Unit 11

p. 104-11[1]

p. 44-47[2]

Unit 12

p. 112-116[1]

p. 48-50 [2]

Reading: Head-to head competition.

Listening: The competition Commission

Language review.

Writing. Practice file.

Final Examination



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2

Homework 5 2 10


Final Exam 1 3 3

Total Workload 149



AZERBAIJAN STATE OIL AND INDUSTRY UNIVERSITY

BA PROGRAMS

SYLLABUS

Course unit title

Introduction to Financial Accounting

Course unit code ACC 1201

Type of course unit

(compulsory, optional)

Compulsory

Level of course unit

(according to EQF:

first cycle Bachelor,

second cycle Master)

First cycle / Bachelor

Year of study (if

applicable)

1st year

Semester/trimester

when the course unit

is delivered

2nd semester

Number of ECTS

credits allocated

6

Name of lecturer(s)

Karimli Nigar


Time:

Office hours: upon students’ appointment


Learning outcomes of

the course unit

Course Description

The goal of the course is to develop knowledge and understanding of the underlying

principles and concepts relating to financial accounting and technical proficiency in the

use of double-entry accounting techniques including the preparation of basic financial

statements. Upon completion, students will:

• Explain the context and purpose of financial reporting

• Define the qualitative characteristics of financial information

• Demonstrate the use of double-entry and accounting systems

• Record transactions and events

• Prepare a trial balance (including identifying and correcting errors)

• Prepare basic financial statements for incorporated and unincorporated entities.

• Prepare simple consolidated financial statements

• Interpretation of financial statements



requisites

None

Recommended

optional programme

components

MS Office

Language of

instruction

English

Work placement(s) –

Recommended or

required readings

Required readings:

1. ACCA - BPP F3 Financial Accounting, BPP Learning Media Ltd,2009

2. Henry Dauderis David Annand. Introduction to Financial Accounting,

Second Edition, CreateSpace Independent Publishing Platform, 2017

3. J. David Spiceland, James F. Sepe, Lawrence A. Tomassini,

Intermediate Accounting, Irwin;2006

4. Carl S. Warren, James M. Reeve, Jonathan Duchac: (selected chapters)

Fundamentals of Corporate Finance Standard Edition 11th, McGraw-

Hill/Irwin,2008

Planned learning

activities and teaching

methods

Lectures, class discussions, task solutions, assignments, quizzes and exams

Course contents

1.

The context and purpose of financial reporting

a) The scope and purpose of financial statements for

external reporting

b) Users’ and stakeholders’ needs

c) The main elements of financial reports

d) The regulatory framework (legislation and

regulation, reasons and limitations, relevance of

accounting standards)

e) Duties and responsibilities of those charged with

governance.

Ch. 1, 2 [1]

2.

The qualitative characteristics of financial information

Reviewing Spreadsheet Models on:

Balance Sheet, Income and Cash Flow Statements;

Ch. 3 [1]

3.

The use of double-entry and accounting systems

a) Double-entry book-keeping principles including the

maintenance of accounting records and sources of

accounting information

Ch. 4 [1]

4.

The use of double-entry and accounting systems

Ledger accounts, books of prime entry, and journals


T-Accounts

Ch. 5 [1]

5.

Recording transactions and events

a) Sales and purchases

b) Cash

c) Inventory

d) Tangible non-current assets

e) Depreciation

Ch. 8, 9 [1]

6.

Recording transactions and events

a) Intangible non-current assets and amortisation

b) Accruals and prepayments

c) Receivables and payables

d) Provisions and contingencies

e) Capital structure and finance costs

Quiz 1

Ch. 10, 11, 12, 13 [1]

7.

Control accounts and reconciliations

a) Preparing a trial balance

b) Trial balance

Ch. 6, 14 [1]

8. Midterm examination

9.

Preparing a trial balance

a) Bank reconciliations

Suspense accounts

b) Correction of errors


Trial Balance

Ch.15,16 [1]

https://www.amazon.com/Carl-S.-Warren/e/B001IGOG6O/ref=dp_byline_cont_book_1

https://www.amazon.com/s/ref=dp_byline_sr_book_2?ie=UTF8&text=James+M.+Reeve&search-alias=books&field-author=James+M.+Reeve&sort=relevancerank

https://www.amazon.com/s/ref=dp_byline_sr_book_3?ie=UTF8&text=Jonathan+Duchac&search-alias=books&field-author=Jonathan+Duchac&sort=relevancerank

10.

Preparing basic financial statements

a) Statements of financial position

b) Statements of profit or loss and other comprehensive

income

Ch. 17,20, 23,24,25

[1]

11. Preparing basic financial statements

a) Disclosure notes

b) Events after the reporting period

Ch. 13 [1]

12. Preparing basic financial statements

a) Statements of cash flows

b) Incomplete records.

Ch 18,23 [4]

13.

Interpretation of financial statements

Quiz 2

a) Introduction to Ratio Analysis

b) Liquidity Ratios: Analyzing: Short-term Cash Needs

c) Profitability Ratios: Analyzing Returns on Business

Activity

Ch 13 [2]

14.


a) Market Ratios: Analysis of Financial Returns to

Investors

b) Overall Analysis of Big Dog’s Financial Statements

Ch 13 [2]

15.


a) Horizontal and Vertical Trend Analysis

(Review spreadsheet solutions on Ratio Analysis II: Du-

Pont Chart)

Ch 13 [2]

Final exam



(hour)

Total Workload

(hour)

Course duration in class 14 3

42


Individual or Group Work 14 4.5 63

Midterm Exam 1 2 2

Paper/Project (including preparation

and presentation) 1 15

15

Homework 3 5 15


Final Exam 1 3 3

Total Workload 178

Total Workload/30(h) 5.93



BA PROGRAMS

SYLLABUS

Course unit title

Management Accounting

Course unit code

ACC 2201



Year of study 2nd year

Semester/trimester


is delivered

4th semester

Number of ECTS

credits allocated 6

Name of lecturer

Mirzoyev Yalchin


Time:



(050)7249942


the course unit

Course Description:

Running a profit maximizing firm, managers must decide what to

produce, in what quantities, and how to manufacture the products. They must

decide how to sell the product, as well as advertising, distribution, and

product positioning. However it’s not quite so simple. How are future

revenues and costs estimated? Similarly, when deciding which investment

projects to accept, capital budgeting analysts require data on future cash

flows. How are these numbers derived?

The internal accounting system includes budgets, data on the costs of

each product and current inventory, and periodic financial reports. In many

cases these accounting reports are the only formalized part of the information

system providing the knowledge for decision making. This course focuses on

how internal accounting systems provide knowledge for decision making.

Learning Outcomes:

On successful completion of the course, students should be able to:

Develop appropriate financial and non-financial performance measures for

effective planning, evaluation and control of organizations’ business

processes;

Evaluate the appropriateness of alternative costing systems and methods by

considering the unique context of specific product and service

organizations;

Structure and model business problems to evaluate alternatives, conduct

sensitivity analysis on assumptions, and analyze outcomes to determine

causes of variances.



requisites ACC 1201

Recommended

optional programme

components

MS Excel

mailto:[email protected]

Recommended or

required readings

Required readings:

1. Drury Colin, Management and Cost Accounting, Cengage Learning, 10th Edition,

2018.

2.Jerold L. Zimmerman, Accounting for Decision Making and Control, McGraw-Hill

Education, 8th Edition, 2013.

Planned learning


methods

Lectures, class discussions, task solutions, assignments, quizzes and exams.

Note: Plagiarism is not acceptable. All research papers are checked by special program

tool – TURNIITIN.

Language of

instruction

English


Course contents

1. Introduction to the course. Process Costing Systems.

• Flow of production and costs in a process costing system;

• Process costing when all output is fully complete;

Partially completed output and losses in process.

Ch. 5 [1]

p.102

Ch. 1 A, B [2]

p.26,31

2. Process Costing Systems cont’d

• Beginning and ending work in progress of uncompleted

units;

• Process costing in service organizations;

• Batch/operating costing.

Problem Solving/Excel Modeling:

{Problem 1-2 One Cost System Isn’t Enough, p.21 [2]}

{Review Problem 5.12 Process Costing, p.124 [1]}

Ch. 5 [1]

p.112

Ch. 1 D, E [2]

p.46,51

3. Activity-Based Costing (ABC)

• The need for a cost accumulation system in generating

relevant cost information for decision-making;

• Types of cost systems;

• A comparison of traditional and ABC systems;

• Volume-based and non-volume-based cost drivers;

• Activity hierarchies.


{Self-Study Problem Kiddo Inc., p.546 [2]} {RP IM11.5

Comparison of traditional product costing with ABC

(CIMA: Management Accounting Techniques), p.275 [1]}

Ch. 11 [1]

p.251

Ch. 11 B [2]

p.524

4. Activity-Based Costing (ABC) cont’d

Analyzing Activity-Based Costing

• Activity-based costing profitability analysis;

• Resource consumption models;

• Cost versus benefits considerations;

• Periodic review of an ABC database;

• ABC in service organizations.


{P 11-9 O’Reilly Manufacturing, p.554 [2]}

Ch. 11 [1]

p.260

Ch. 11 C [2]

p.535

5. Financial Information for Pricing Decisions

• The role of cost information in pricing decisions;

• A price-setting firm facing short/long-run pricing decisions;

• A price-taking firm facing short/long-run product mix

decisions;

• Establishing target mark-up percentages;

• Reasons for using cost-plus pricing;

• Customer profitability analysis.


{P 2-11 Penury Company, p.65 [2]} {RP 10.13 Calculation of

an optimal selling price, p.245 (ACCA: Financial

Information for Management) [1]}

Ch. 10 [1]

p.227

Ch. 2 B-E [2]

p.31-52

6. Dealing with Risk and Uncertainty in Decision-Making

• Risk and uncertainty;

• Probability distributions and expected value;

• Measuring the amount of uncertainty;

• Attitudes to risk by individuals.


{P 3-7 Northern Sun Inc., p.125 [2]} {RP 12.17 (CIMA P1:

Performance operations), p.293 [1]}

Ch. 12 [1]

p.278

Ch. 3 D [2]

p.106

7. Dealing with Risk and Uncertainty in Decision-Making cont’d

• Decision tree analysis;

• Buying perfect and imperfect information;

• Maximin, maximax and regret criteria;

• Risk reduction and diversification.


{P 3-21 Toledo Stadium, p.129 [2]}

Ch. 12 [1]

p.285

Ch. 3 E [2]

p.106

8. Midterm Exam

9. Scarce Resources and Use of Linear Programming Techniques

• Linear programming;

• Graphical method.


{Problem 1: Resource Constraints, Cost Minimization} {RP

25.11 Optimal output and calculation of shadow prices

using graphical approach (ICAEW: Management

Accounting), p.669 [1]}

Ch. 25 [1]

p.655

10. Scarce Resources and Use of Linear Programming Techniques

cont’d

• Simplex method;

• Uses of linear programming.


{Problem 2: Resource Constraints, Return Maximization}

Ch. 25 [1]

p.662

11. Budgeting Processes and Purposes

Ch. 15 [1]

p.358

• The strategic planning, budgeting and control process;

• The budget period;

• Stages in the budgeting process;

• Sales budget;

• Production budget and budgeted inventory levels.


{P 6-6 Ice Storm, Mathews & Peat, p.279 [2]} {RP 15.19

Material purchases budget (CIMA P1: Performance

operations), p.387 [1]}

Ch. 6 A [2]

p.240

12. Alternative Budgeting Techniques

• Cash budgets;

• Activity-based budgeting;

• Zero-based budgeting;

• Criticisms of budgeting.


{P 6-11 Coating Department, p.282 [2]}

Ch. 15 [1]

p.376

Ch. 6 C [2]

p.255

13. Standard Costing and Variance Analysis

• Operation of a standard costing system;

• Establishing cost standards;

• Variance analysis;

• Material variances;

• Wage rate variance;

• Total labour variance.


{P 12-18 Software Associates, Performance Report, p.603

[2]} {RP IM17.4 Computation of fixed overhead variances

(ACCA Paper 8: Managerial Finance), p.455 [1]}

Ch. 17 [1]

p.423

Ch. 12 A-D [2]

p.572-591

14. Variance Analysis (Fixed Overhead Variances, Mix and

Yield/Quantity Variances) cont’d

• Fixed overhead expenditure or spending variance;

• Sales variances;

• Volume variance;

• Direct materials mix and yield variances;

• The investigation of variances.


{P 13-8 Western Sugar, p.629 [2]}

Ch. 18 [1]

p.439,463

Ch. 13 B, C [2]

p.613,621

15. Divisional Financial Performance. Transfer Pricing

• Divisional organizational structures;

• Alternative divisional profit measures;

• Return on investment;

• Determining which assets should be included in the

investment base;

• Transfer pricing;

• Market-based transfer prices;

• Cost plus a mark-up transfer price;

• Marginal/variable cost transfer prices.


Ch. 19,20 [1]

p.484,509

Ch. 5 A, B [2]

p.182,196

{P 5-16 Sunstar Appliances, p.223 [2]} {RP 20.15 (CIMA:

Management Accounting – Decision Making), p.533 [1]}

Final Exam


Activities Number

Duration

(hour)

Total

Workload

(hour)




Midterm Examination 1 3 3

Homework 6 6 36


Final Examination 1 3 3

Total Workload 175


ECTS Credit of the Course

6


BA PROGRAMS

SYLLABUS

Course unit title Advanced management accounting




Year of study Third year


unit is delivered

6th semester


allocated

6

Name of lecturer Tahir Garayev

Class information

Location: Room:

Time:


Contact:


course unit

Course Description

The module aims to increase students'' knowledge of the theory and practice of

management accounting and to build on study of this topic in earlier years,

especially to extend and complement the material covered in the second year

Management Accounting (ACFI 203). An important part of the module is

reviewing of the various theoretical approaches which have been adopted or

proposed for the development of management accounting and management

decision-making. Also, detailed materials on the practice of management

accounting will be provided and explored in lectures and workshops. The

module thus presents management accounting in a broad context of

organisational management and control. The module is also based on the

notion that the primary aim of a business organisation is to identify and pursue

a successful long-term competitive strategy. Keeping in mind this notion the

module explores the links between management accounting practices and

business strategy.


After completing ACC 3201, students should be able to:

Understand, analyse and evaluate issues in theory and practice in

management accounting;

Examine the factors that influence the design of organisations and

their management accounting control systems;

Evaluate the different approaches to planning and performance

measurement;

Identify the important behavioural, ethical and social responsibility

issues associated with management accounting control systems;



requisites

ACC 2201

FIN 2201



EXCEL


reading

1. Merchant, Kenneth A., Wim A. Management control systems , Van der

Stede 2012

2. CIMA P2-Advanced Management Accounting, BPP Learning Media

2014

Additional information will be distributed either electronically or delivered in

printed forms.



Classroom lecturing, assignment, discussion sessions, presentation.


Work placement(s) NA

Course contents:

1. Management Accounting Control Systems – Development, control types and

effectiveness

Chapter 1[1]

2. Management Accounting Control Systems - Effective incentives + rewards

Chapter 2 [1]

3. Performance Management – traditional approaches

Chapter 3 [1]

4. Performance Management - Balanced perspectives

Chapter 4[1]

5. Performance Management - Balanced perspectives (cont.)

Chapter 4 [1]

6. Introduction to the assignment

Chapter 6 [1]

7. Strategic Management Accounting - Activity based environments

Chapter 8[1]

8. Midterm Exam

9. Strategic Management Accounting - Activity based environments

(cont.)

Chapter 8[1]

10. Strategic Management Accounting - Investing for future capabilities Chapter 11[1]

11.

Strategic Management Accounting - Managing a total quality approach

Chapter 9 [1]

12. Strategic Management Accounting – approaches to pricing Chapter 7[1]

13. Strategic Management Accounting – approaches to pricing(cont.) Chapter 7 [1]

14. S&TI in PM - Behavioural + eth ical issues, social responsibility + sustainability

Chapter 10[1]

15. Future Role of Management Accounting Control Systems

Chapter 14[1]

FINAL EXAM

Workload calculation


(hour)

Total Workload

(hour)




Midterm Exam 1 2 2


and presentation) 2 8 16

Homework 3 6 18


Final Exam 1 3 3

Total Workload 178




BA PROGRAMS

SYLLABUS

Course unit title Capital markets




Year of study 3rd year

Semester/trimester when

the course unit is delivered 6th semester

Number of ECTS

credits allocated 6

Name of lecturer Rovshan Guliev

Class information

Location: Room:

Time:




course unit

Course description:

Traditional capital markets might be described simply as the meeting place

where providers and users of capital interact through the medium of money or

its proxies. Today’s capital markets in Europe and America continue with the

above basic function and have become increasingly more sophisticated to

serve the needs of an array of specialized investment sources including private

equity funds, hedge funds, sovereign wealth funds. Meeting these specialized

needs has entailed the rapid development of new financial products and

resulted in highly-rewarding new roles for finance industry professionals. To

aid in the analysis and sale of these new products, computers handle vast

databases of market data while accompanying analytics support decision-

making in a financial world approaching information overload.


After completing ACC 3200, students should be able to:

explain the basic concepts about capital market

solve the problems arising in capital market.

analyze the process required for capital market

prepare the evaluation rapport on capital markets.



requisites FIN 2201, FIN 3101




readings Required readings:

1. Roy E. Bailey.The Economics of Financial Markets, Cambridge

University Press, New York, 2005.






Course contents

1. Asset markets and asset prices Capital markets

Asset price determination: an introduction

The role of expectations

Performance risk, margins and short-selling

1.5 Arbitrage

1.6 The role of time

1.7 Asset market efficiency

[1], Ch. 1

2. Asset market microstructure Financial markets: functions and participants

Trading mechanisms

Industrial organization of financial markets

Trading and asset prices in a call market

Bid–ask spreads: inventory-based models

Bid–ask spreads: information-based models

[1], Ch. 2

3. Predictability of prices and market efficiency Using the past to predict the future

Informational efficiency

Patterns of information

Asset market anomalies

Event studies

[1], Ch. 3

4. Decision making under uncertainty The state-preference approach

The expected utility hypothesis

Behavioural alternatives to the EUH

The mean-variance model

Solutions of problems (Software commands for MS Excel.)

[1], Ch. 4

5. Portfolio selection: the mean-variance model Mean-variance analysis: concepts and notation

Portfolio frontier: two risky assets

Portfolio frontier: many risky assets and no risk-free asset

Portfolio frontier: many risky assets with a risk-free asset

Optimal portfolio selection in the mean-variance model


[1], Ch. 5

6. The capital asset pricing model Assumptions of the CAPM

Asset market equilibrium

The characteristic line and the market model

The security market line

Risk premia and diversification

Extensions

[1], Ch. 6

7. Arbitrage Arbitrage in theory and practice

Arbitrage in an uncertain world

State prices and the risk-neutral valuation relationship

Quiz 1

[1], Ch. 7

8. Midterm examination

9. Factor models and the arbitrage pricing theory Factor models

APT

Predictions of the APT

[1], Ch.8

10. Empirical appraisal of the CAPM and APT The CAPM

Tests of the CAPM: time series

Tests of the CAPM: cross-sections

Sharpe ratios and Roll’s criticism

Multiple-factor models and the APT


[1], Ch.9

11. Present value relationships and price variability Net present value

Asset price volatility

Behavioural finance, noise trading and models of dividend growth

Extreme asset price fluctuations


[1], Ch.10

12. Intertemporal choice and the equity premium puzzle Consumption and investment in a two-period world with certainty

Uncertainty, multiple assets and long time horizons

Lifetime portfolio selection

The equity premium puzzle and the risk-free rate puzzle

Intertemporal capital asset pricing models

[1], Ch.11

13. Bond markets and fixed-interest securities What defines a bond?

Zero-coupon bonds

Coupon-paying bonds

Bond valuation

Risks in bond portfolios

Immunization of bond portfolios

Quiz 2

[1], Ch.12

14. Term structure of interest rates Yield curves

Index-linked bonds

Implicit forward rates

The expectations hypothesis of the term structure

Allowing for risk preferences in the term structure

Arbitrage and the term structure

[1], Ch.13

15. Futures, Swaps, and Options markets

Futures Markets

Swaps Markets

Options markets

[1], Ch.14-20

Final



(hour) Total Workload (hour)




Midterm Exam 1 3 3



12

Homework 5 7 35

Preparation for the Final Exam 1

14 14

Final Exam 1 3 3

Total Workload 178




BA PROGRAMS

SYLLABUS

Course unit title Accounting theory




Year of study Second year


unit is delivered

3rd Semester


allocated

6

Name of lecturer Tahir Garayev

Class information

Location: Room:

Time:




course unit

Course Description

This module aims to increase students'' knowledge of the theory of accounting

and its relevance to the study of accounting practice.

The module develops knowledge of Year 1 accounting modules and

complements the material covered in the second year module Financial

Reporting. In addition some of the theoretical material covered in Accounting

Theory will provide links to modules in Management Accounting and Financial

Reporting.

More specifically, the aim of Accounting Theory is to examine the market for

accounting information; processes and effects of regulating financial reporting;

the incentives, which drive managers’ choices of alternative accounting policies;

capital markets’ response to accounting information; explore the critical

perspectives of accounting and consider selected issues in financial reporting.


After completing ACC2101, students should be able to:

possess knowledge of a range of theoretical models which are useful in

understanding and explaining current accounting practices and

regulation.

understand the regulations applied to financial reporting,

should be aware of the literature relating to theoretical models in

accounting and be able to use theory to understand and evaluate the

regulatory institutions of financial reporting

make links between financial reporting and other aspects of accounting.

understand and explore the critical perspectives of accounting



requisites

ACC1201



EXCEL


reading Required readings:

1. Jamie Elliot, Barry Elliot, Financial accounting and reporting, Pearson,


2017

2. Craig Deegan, Financial accounting theory, McGraw Hill, 2014


printed forms.






Course contents:

1. An Overview of Accounting Theories:

What do we mean by ‘theory’?

Why it is important for accounting students to study accounting theory?

Can we prove a theory?

A brief overview of theories of accounting

Evaluating theories—considerations of logic and evidence

Key factors that influence the ‘research process’

Cases and solutions of problems (Software commands for MS Excel.)

Chapter 1&2 [1]

Chapter 1[2]

2. The Financial Reporting Environment:

An overview of the development and regulation of accounting practice

Rationales for regulating financial accounting practice

The role and implications of professional judgement in accounting


Chapter 6 [1]

Chapter 2[2]

3. The Regulation of Financial Accounting:

What is regulation?

An overview of the ‘free-market’ perspective, including discussion about

market-related incentives

Arguments in favour of regulation together with a consideration of the

potential effects of excessive regulation

Theories of regulation, in particular public interest theory, capture theory,

and economic interest group theories of regulation

Pro-regulation perspective


Chapter 3[2]

4. Normative Theories of Accounting: the case of accounting for changing prices

and assets values:

Evidence of international differences in accounting prior to recent

standardisation initiatives

Arguments to suggest why the efforts of the IASB will not ultimately lead

to international standardisation in financial accounting practice

The pros and cons of countries using different accounting methods

Overview of the IASB and its globalisation activities: new section

Cases and solutions of problems

Chapter 10 [1]

Chapter 6[2]

5. Normative Theories of Accounting: the case of conceptual framework:

The meaning of ‘measurement’

Pros and cons of commonly used measurement bases

Factors to consider when choosing between alternative measurement bases

Explanation and evaluation of various normative theories for accounting

for changing prices

Fair value accounting


Chapter 7 [1]

Chapter 6[2]

6. Motivations for accounting choice by managers: Positive Accounting Theory

Positive Accounting Theory defined: origins and development

An overview of agency theory and its relevance to Positive Accounting

Theory

Chapter 1&2&3

[1]

Chapter 7 [2]

Efficiency or opportunistic perspectives relating to accounting method

selection

The use of accounting-based bonus schemes to motivate managers

The role of accounting-based contracts in controlling conflicts of interest

between managers and creditors


7. Positive Accounting Theory: Example of a Debt Contract

An overview of the meaning of political costs and the implications for

accounting choice

Criticisms of Positive Accounting Theory

Relevance of Positive Accounting Theory to current efforts of the IASB

and FASB to determine ‘best’ approaches to measurement


Chapter 7&8 [2]

8. Midterm Exam

9. Positive Accounting Theory: Discussions on Empirical Research Findings

Disclosures in company annual reports on social and environmental issues

Managerial attitudes towards the role of corporate reporting in

legitimation strategies

Overlapping areas of Stakeholder Theory, Legitimacy Theory and

Institutional Theory


Chapter 4[1]

10. Evolution of the International Accounting Standards:

The role of the United States in the international standardisation of

financial accounting and discussion of revised views about whether the US

will

ultimately commit to IFRS

Reasons to support and oppose the global standardisation of financial

accounting standards

Obstacles to the global standardisation of financial accounting


Chapter 6&7[1]

Chapter 4[2]

11. The incorporation of social and environmental factors within financial

reporting:

Managerial attitudes towards the role of corporate reporting in

legitimation strategies

Overlapping areas of Stakeholder Theory, Legitimacy Theory and

Institutional Theory

Relationships between media, corporate legitimacy and corporate

disclosure policies

Apparent needs for development in the respective theories


Chapter 9&11[1]

Chapter 9[2]

(Text book)

12. Capital markets reaction to accounting information

Evidence about how, and why, capital markets react to some accounting

information, but not other accounting information

The assumptions inherent in capital markets research

The implication for capital markets research when we relax key

assumptions about market efficiency: discussion of new research


Chapter 10 [2]

13. Critical Perspectives of accounting

The critical perspective defined

Critical accounting research versus social and environmental accounting

research

The possible impact of critical accounting research on social practice

Chapter 12 [2]

14. Critical Perspectives of accounting (cont.)

Role of the state versus role of accounting in supporting existing social

structures

The subjectivity of accounting reports

A critical reflection of the role of critical accounting researchers in

actually creating changes to those systems that they criticise and oppose


Chapter 12[2]

Chapter 12[1]

15. Overview of passed lectures


Prep for exam

Additional evaluation

Chapter13,17

[1]

FINAL EXAM



(hour)

Total Workload

(hour)


42



Midterm Exam 1 2 2



Homework 3 5 15


Final Exam 1 3 3

Total Workload 175




BA PROGRAMS

SYLLABUS

Course unit title International Business Environment

Course unit code BUS 1201





unit is delivered

2nd Semester


allocated

6

Name of lecturers Naila Gasimova

Class information

Location: Room:

Time:




course unit

Course Description

In this course, students will be provided with a solid foundation for analysing

the major characteristics of the international business environment, knowledge

and analytical capabilities to understand the implications for organisations for

strategy and operations arising from internationalization.

The main aim of this course is to provide students with the knowledge and

skills to enable them to analyse the challenges and opportunities that arise for

organisations from the internationalisation process and to be able to assess how

to manage effectively international business activities; to provide knowledge

about the effects of international locations for the major areas of management

including strategy, HRM, corporate governance and finance and thereby to

provide useful insights on how internationalisation affects these management

functions.


After completing BUS 1201, students should be able to:

understand the major characteristics of the international business

environment and analyse changes in these characteristics;

apply theories and evidence on the characteristics of foreign locations

for practical issues in the management of international strategies;

understand how diversity in foreign locations impacts on operational

aspects such as HRM systems, marketing processes and knowledge

acquisition;

understand how diversity of moral and ethical norms in foreign

locations affects key issues in corporate governance and corporate

social responsibility.



requisites

None




reading

1. Charles W. L. Hill, International Business:Competing in the Global

Marketplace 10th Edition, 2014

2.The New rules of Globalization, Harvard Business Review, 2014

3. Ian Worthington and Chris Britton, The Business Environment1.

Leicester Business School, De Monfort University, fifth edition, 2015






Course contents:

1. Introduction to International Business Environment:

Definition and meaning of international business

Scope of international business

Special benefits and difficulties in international business

Case Study

Chapter 1[1,2]

2. International Economic Environment:

International Monetary Fund (IMF)

World Bank

United Nations Conference on Trade And Development

Case study

Chapter 2[2]

3. Organisations Engaged in International business

Multinational Corporations

MNCs Critics and Defenders

MNCs, Host and Home Societies

Case study

Chapter 3 [1,2]

4. Nature of International Business Environment

Political Environment

Legal Environment

Technological Environment

Case study

Chapter 4[1,2]

5. Foreign Investment and FDI

The role of foreign investment and capital inflows and overheating

Foreign Direct Investment (FDI)

Foreign Portfolio Investment (FPI)

Chapter 5 [1,2]

6. International markets and globalisation:

The importance of the market to business and market structure

Globalisation.

Curbing trade union power

Case study

Chapter 6 [1,2]

7. Issues:

Corporate responsibility and the environment

Government intervention

Case study

Chapter 7[1,2]

8. Midterm Exam

9. Monitoring change:

Analysing the business environment: broad approaches

Why Expand Globally? External Factors Impacting Expansion

Framework for analyzing the international business environment

Case study

Chapter 8[1]

10. Components of International Business Environment:

Political risk

Intellectual Property Rights

Intellectual property protection

Case study

Chapter 9[1,2]

11. Counterfeiting

Home country legislation

Factors Influencing Intellectual Property Violations

Case study

Chapter 10 [2]

12. Marketing Intermediaries

International environment

Global Corporation

Case study

Chapter 11[1]

13. Corporate responsibility and the environment

Environmental management: an issue of corporate responsibility

Business response to environmental concerns

The interaction of business and society

Case study

Chapter 12, 13

14. The technological environment: e-business

Business applications 1: business-to-business (B2B) commerce

Potential problems and limitations of B2B

Chapter 14[1,3]

15. Monitoring change:

The need to monitor change, limitations to environmental analysis,

Chapter 15 [1]

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2



Homework 3 6 18


Final Exam 1 3 3

Total Workload 176




BA PROGRAMS

SYLLABUS

Course unit title Business analysis



Level of course unit First Cycle Bachelor

Year of study Third Year


unit is delivered

5th Semester


allocated

6

Name of lecturers Rana Zulfugarova

Class information

Location: Room:

Time:




course unit

Course Description

This course provides a frame of reference for using models in support of

decision making in an enterprise, then introduces some of the most commonly

useful modeling approaches and principles. Topics covered include model

components, simulation, optimization, time series and causal forecasting,

decision analysis, Monte Carlo simulation, and quality management.


After completing BUS 3101, students should be able to:

apply methods of Decision Making

apply Time Series Forecasting Methods for solving problems in

business and economics.



requisites

High School Algebra II or equivalent



EXCEL


reading

1. Anderson, Sweeney, Williams, Camm, Martin Selected Chapters on

Business Analysis,Pearson, 2nd Edition, 2004

2. S. Christian Albright, Wayne L. Winston, Business Analytics: Data

Analysis & Decision Making, Cengage Learning, 2016


printed forms.



Lecture with discussion, computer projections (power point), answering and

asking questions.



Course contents:

mailto:zulfugarova.rena@

1. Introduction to the Course

Overview of Modeling for Decision Making

Define basic modeling terms

Types of models

LAB. Basic Excel formulas and functions

LAB. Spreadsheet model MS Excel

Chapter 1 [1]

2. Overview of the modeling process

Types of models, data collection, analysis, and interpretation.

Chapter 1 [1]

3. Profit Models and Simulation

Analyze a business situation to identify revenues, costs, and other

parameters relevant to the modeling process.

LAB. Draw an influence diagram to map the relationships between

different variables of interest.

LAB. Build a basic profit model both with a spreadsheet and without.

Chapter 1 [1]

4. Profit Models and Simulation

Breakeven and Crossover analyses.

LAB. Find the price that maximizes profit, given a demand function,

algebraically and graphically, both with a spreadsheet and without.

Chapter 2,9 [1]

5. Building a spreadsheet simulation

Compare and contrast Simulation with other types of modeling.

LAB. Use random numbers from a random number table or a spreadsheet

function.

Chapter 2,9 [1]

6. Time Series Forecasting

Define the types of forecasting

Quantitative (causal and time series) and Qualitative

Chapter 13[1]

Chapter 12[2]

7. Forecasting methods for time-series data

•Naïve

•Moving Averages

LAB. Build a Naïve and Moving Averages models

Chapter 13 [1]

Chapter 12[2]

8. Midterm


Simple Exponential Smoothing

Regression (Simple, Quadratic, Logarithmic)

Classical Decomposition (Trend and Seasonality)

LAB. Creating a Simple Exponential Smoothing and Regression (Simple) models

Chapter 13 [1]

Chapter 12[2]


• Classical Decomposition (Trend and Seasonality)

LAB. Creating a Simple Exponential Smoothing and Regression (Simple) models

Chapter 13 [1]

11. Forecasting methods for time-series data:

Compute Bias, MAD , MAPE , Standard Error, and R-Squared (for

regression only) for each of the forecasting methods.

LAB. Calculate errors

Chapter 13 [1]

12. Decision Analysis

Basic concepts

Differentiate between Decision making under ignorance, risk, and

certainty.

LAB. Compute payoff matrix for a given business scenario.

Chapter 8 [1]


Define the criteria for choosing the best decision.

Determine the best decision using the MAXIMAX, MAXIMIN, Laplace-

Chapter 8 [1]

Bayes, MINIMAX-Regret criteria


Compute Expected Value (EV), EV under Perfect Information (EVUPI),

EV of Perfect Information (EVPI), Expected Opportunity Loss(EOL).

Chapter 8 [1]


Construct a decision tree.

Define decision nodes, chance nodes, branches, payoffs, probabilities,

pruning of branches.

LAB. Compute posterior probabilities using Bayes’ Theorem, and incorporate

them into analysis.

Chapter 8 [1]

FINAL EXAM



(hour)

Total Workload

(hour)


42



Midterm Exam 1 3 3



Homework 3 6 18


Final Exam 1 3 3

Total Workload 178




BA PROGRAMS

SYLLABUS

Course unit title PRINCIPLES OF MICROECONOMICS

Course unit code ECON 1101




Semester/trimester

when the course unit is

delivered

1st semester

Number of ECTS

credits allocated

6

Name of lecturer Zakir Pashayev


Time:



Learning outcomes

of the course unit

Course overview

This course is an introductory undergraduate course that teaches the fundamentals of

microeconomics. For some, it may be the only course they take in the subject, and it

provides a solid foundation for economic analysis and thinking that can last throughout

their education and subsequent professional careers. For other students, it may provide a

foundation for many years of study in economics, business, or related fields. This course

begins with an introduction to supply and demand and the basic forces that determine an

equilibrium in a market economy. Next, it introduces a framework for learning about

consumer behavior and analyzing consumer decisions. We then turn our attention to

firms and their decisions about optimal production, and the impact of different market

structures on firms' behavior. The final section of the course provides an introduction to

some of the more advanced topics that can be analyzed using microeconomic theory.

These include international trade, the impact of uncertainty on consumer behavior, the

operation of capital markets, equity vs. efficiency trade-offs in economic policy and

social insurance.

By the end of the course, you will be able to understand introductory microeconomic

theory, solve basic microeconomic problems, and use these techniques to think about a

number of policy questions relevant to the operation of the real economy.

Learning outcomes

At the end of this course, students should be able to:

Understand consumer behavior.

Understand firm behavior.

Analyze different types of market structures (monopoly, oligopoly and a

competitive market).

Understand how to apply economic principles to a range of policy questions.


Prerequisites and

co-requisites

None

Recommended

optional programme

components

Recommended or

required readings

Required readings:

1. Robert S. Pindyck. Microeconomics. Pearson; 9th edition, 2017

2. Michael R. Baye. Managerial Economics and Business Strategy. 7th McGraw-Hill;

2010

Planned learning


methods


Language of

instruction

English


Course contents

1 Introduction

Overview: themes, types of markets, economic measurement, economic analysis Chapter 1 [1]

2 The basics of supply and demand

Demand and Supply

Equilibrium

Government interventions

Chapter 2[1]

3 Elasticities of demand

Price elasticity of demand

Price elasticity of supply

Determinants of elasticities

Chapter 2 [1]

4 Consumer preferences

Consumer behavior - consumer preference

Utility functions, deriving marginal rate of substitution (MRS)

Budget constraints

Utility maximization

Chapter 3 [1]

5 Optimization, revealed preference, and deriving individual deman

Optimization: corner solutions

Deriving individual demand curves

Normal vs Inferior goods

Chapter 3 [1]

6 Substitution and income effects, individual and market demand, consumer

surplus

Substitution effect

Income effect

From individual to market demand curve

Consumer surplus

Chapter 4 [1]

7 Production and Cost

Production theory (SR and LR)

Cost types (SR and LR)

The cost of production and profit maximization

Chapter 6 [1]

8 Midterm exam

9 Introduction to Market Structures

Characteristics of:

Perfect Competition

Monopoly

Monopsony

Monopolistic Competition

Oligopoly

Chapter 10 [1]

10 Perfect Competition

Profit maximization

Analysis of competitive markets

Chapter 8,9 [1]

11 Monopoly

Single price monopoly

Profit maximization

Sources of monopoly

Market power

Chapter 10 [1]

12 Price Discrimination

Perfect price discrimination

Nonlinear PD

Group PD

Bundling

Two-part tariff

Peak load pricing

Chapter 11 [1]

13 Oligopoly and Monopolistic Competition

Oligopoly models

Profit maximization

Monopolistic competition curves and Profit maximization

Chapter 12 [1]

14 Game theory basics

Nash equilibrium

PSNE

Chapter 13 [1]

15 Game theory basics

MSNE

Backward induction

Chapter 13 [1]

Final exam






Homeworks 14 4 56

Midterm Exam 1 4 4

Reading 4 7 28


28 28

Final Exam 1 4 4

Total Workload 176




BA PROGRAMS

SYLLABUS

Course unit title Skills for Professional Economists

Course unit code ECON1102


Level of course unit First cycle / Bachelor


Semester/trimester when the course

unit is delivered

1st semester

Number of ECTS credits allocated 6

Name of lecturer Samira Mammadova

Class information

Location: Room:

Time:



Learning outcomes of the course unit

Course Description

The class will be divided into seminar or workshop groups for

discussion and this module aims to provide students with an

understanding of some of the skills required of the professional

economist in the current business environment, and the opportunity

to acquire and apply those skills.

Course Objective:

During this course students learn methods and communicative

aspects of solving complex tasks in a group.

Students learn how to organize themselves as components of the

group and take responsibility for personal part of the task.

Learning Outcomes:

Students will be able:

to develop an understanding of the importance of written

and verbal communication from personal and business

perspectives.

to gain experience in working with others and in developing

effective relationships

to build confidence in being able to present in front of others

to gain an awareness of the commercial issues facing

organizations

to develop an awareness of digital capabilities relevant to

economists

to develop an understanding of scientific programming skills


prerequisites and co-requisites none

recommended optional programme

components

MS Office

recommended or required reading 1. Scott McLean. Communication for Business Success, Flat

World Knowledge, Inc. 2010


planned learning activities and

teaching methods

Team work, case study discussions and brainstorming, presentations,

exams.

language of instruction

English

course contents:

1 The best way to Communicate.

• Defining communication

• The communication process

Chapter 1

[1]; Chapter 1 [2]

2 Understanding your audience.

• Self-understanding

• Perception and its differences

• Getting to know your audience

• Listening and reading as an approach for better understanding

Chapter 3

[1]; Chapter 2 [2]

3 Effective business writing.

• Oral VS. Written communication

• Style and principles of written communication

• Barriers to effective written communication and methods to overcome

them

Chapter 4

[1]; Chapter 4 [2]

4 Feedback in the Writing Process.

• Forms of feedback

• Types of research (qualitative and quantitative)

Chapter 8

[1]; Chapter 5

[2]

5 Developing business presentation.

• First steps in building business presentation: topic, sources

• Public speaking, obstacles in presenting and methods to overpass

them

Chapter 10

[1]; Chapter 6 [2]

6 Presentations to inform and to persuade.

• Function of presentation to inform (difference between exposition and

interpretation) and types

• Define the concepts of multiple intelligences and learning styles, and

identify different types of intelligence and learning styles that audience

members may have.

• Demonstrate an understanding of the importance of persuasion;

Describe similarities and differences between persuasion and motivation.

• Six principles of persuasion, components of an argument

Chapter 13, 14

[1]

7 Business presentation in action.

• Presentations usage over internet (media interviews, viral messages and

VoIP), publicly (ceremonies, awards, celebrations, meetings)

Chapter 15

[1]

8 Midterm exam

9 Intrapersonal Business communication.

• Interpersonal communication and conflicts in work sphere

• Understanding and respect of interpersonal needs

Chapter 16

[1]

10 Interpersonal Business communication.

• Social penetration theory

• Self-concept and dimensions of Self

Chapter 16 [1]

11 Negative news and crisis communication.

• Building Crisis communication plan

• Delivering negative news at press conferences

Chapter 17

[1]

12 Intercultural business communication

• Managements styles

• Assignment abroad

Chapter 18

[1]

13 International business communication

• Managements styles

• Assignment abroad

Chapter 18

[1]

14 Group communication,

• Group life cycles and Members Roles

• Group problem solving

Chapter 19

[1]

15 Teamwork and Leadership

• Define teamwork and explain how to overcome various challenges to

group success.

• Describe the process of leader development.

• Describe several different leadership styles and their likely influence on

followers.

Chapter 19

[1]

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2



Preparation for quizes 3 5 15


Final Exam 1 3 3

Total Workload 180




BA PROGRAMS

SYLLABUS

course unit title

Principles of Macroeconomics

course unit code

ECON 1201

type of course unit Compulsory

level of course unit First cycle / Bachelor

year of study

1st year

semester/trimester when the course

unit is delivered

2nd year

number of ECTS credits allocated

6

name of lecturer

Samira Mammadova

class information

Location: Room:

Time:



learning outcomes of the course unit

Course Description

Introduction of the economy as a whole including such topics as

economic organization, national income accounting, economic

growth and fluctuations, inflation, labor market, money and

monetary policy, government and public economy, international

trade. Course covers the use of theoretical tools to explain the

determinants and measurements of the level and change in aggregate

macroeconomic variables. One of the goals of this course is to

provide a basic knowledge of most important macro economic

theories

Course Objective:

1.To introduce students to intermediate macroeconomic concepts

and ideas.

2.To promote critical thinking in areas of macroeconomic theory and

policy.

3.To understand macroeconomic variables and interpret them.

4.To understand the role of government in economy.

5.To evaluate impact of policies on economy.

Learning Outcomes:

At the end of the course, students will be able to:

1.Analyze macroeconomic outcomes.

2.Identify and describe the major institutions through which

macroeconomic policies are implemented.

3.Explain and manipulate the AD/AS models.

4.Describe causes and results of Business Cycles.

5.Understand how the internationalization of economy has changed


the outcomes.

6.Understand how external developments can affect domestic

economy.

mode of delivery Face-to-face

prerequisites and co-requisites none


components

Microsoft Excel

recommended or required reading 1. McConnell, Brue and Flynn. Economics: Principles,

Problems & Policies (McGraw-Hill Series in Economics),

McGraw-Hill Education; 20th edition, 2014;

2. William B. Walstad, Robert C. Bingham. Study Guide to

Accompany Economics (McGraw-Hill) 14th Edition, ,1998

Additional information will be distributed either electronically or

delivered in printed forms.


teaching methods

Lectures, case study discussions and brainstorming, reading material

from e-book, quizzes, presentations, exams.


English

course contents:

1 Introduction to macroeconomics

Performance and policy

Modern economic growth

Uncertainly, Expectations and Shocks

Categorizing Macroeconomic Models Using Price Stickiness

Chapter 23

[1]

2 Supply, Demand and Market Equilibrium

The Demand curve

The Supply curve

Market Equilibrium

Circular flow model

Lab. Demand and Supply analysis; Determining Market equilibrium;

Determining Efficient allocation

Chapter 2,3

[1]

pp. 31-35[2]

3

Measuring Domestic Output and National Income

Gross Domestic Product

The Expenditures Approach

The Income Approach

Nominal GDP versus Real GDP

Lab. Calculation GDP using different approaches

Chapter 24

[1]

pp. 71-73[2]

4 Long-Run Economic Growth

Modern Economic Growth

Institutional Structures That Promote Growth

Ingredients of Growth

Production Possibilities Analysis

Accounting for Growth

Lab. Determining the economic growth

Chapter 25

[1]

pp.22-25[2]

5

Business Cycles

The Business Cycle

Phases of Business Cycle

Cyclical Impact

Lab. Calculation the GDP gap.

Chapter 26

[1]

pp. 85-87[2]

6

Unemployment, and Inflation

Unemployment

Meaning, Measurement, Types, and Redistribution Effects of Inflation

Lab. Determining the Unemployment and Inflation rate.

Chapter 26

[1]

pp. 82-85[2]

7 Basic Macroeconomic Relationships

The Income-Consumption and Income-Saving Relationships

The Interest-Rate–Investment Relationship

The Multiplier Effect

Lab. Calculation the APC, APS, MPC, MPS, Multiplier

Chapter 27

[1]

pp.95-98[2]

8 MIDTERM EXAM

9 The Aggregate Expenditures Model

Consumption, Saving and Investment

Changes in Equilibrium GDP and the Multiplier

Lab. Different types of calculation Equilibrium GDP

Chapter 28

[1]

pp.104-106[2]

10 The Aggregate Expenditures Model

Open economy condition

Equilibrium versus Full-Employment GDP

Lab. Determination recessionary and inflationary gap

Chapter 28

[1]

pp. 108-110[2]

11 Aggregate Demand and Aggregate Supply

Aggregate Demand, Changes in Aggregate Demand

Aggregate Supply, Changes in Aggregate Supply

Equilibrium and Changes in Equilibrium

Lab. Calculation the productivity and per unit production cost

Chapter 29

[1]

pp.120-123[2]

12

Fiscal Policy

Expansionary Fiscal Policy

Contractionary Fiscal Policy

Evaluating Fiscal Policy

Lab. Determining the G and T for Discretionary Fiscal Policy

Chapter 30

[1]

pp.135-138[2]

13 The Public Debt

Built-In Stability

Debt and GDP

Crowding-out Effect

Lab. Determining Progressive, Proportional and Regressive Tax Systems

Chapter 30

[1]

pp. 135-138[2]

14 Money and Banking

The Functions of Money

The Components of the Money Supply

Recent Developments in Money and Banking

Lab. Calculation the Reserve Ratio

Chapter 31

[1]

pp. 144-145[2]

15

Monetary policy

Interest rates

Tools of Monetary Policy

Monetary Policy, Real GDP, and the Price Level

Lab. Calculation the interest rate.

Chapter 33

[1]

pp. 146-148[2]

FINAL EXAM

Workload calcvulation


(hour)

Total Workload

(hour)




Midterm Exam 1 3 3





Final Exam 1 3 3

Total Workload 173




BA PROGRAMS

SYLLABUS

course unit title

Macroeconomics

course unit code

ECON 2101

type of course unit Compulsory

level of course unit First cycle / Bachelor

year of study

second

semester/trimester when the course

unit is delivered

third

number of ECTS credits allocated

6

name of lecturer(s)

Samira Mammadova

class information

Location: Room:

Time:



learning outcomes of the course unit

Course Description

To further extend the study of macroeconomic theory at the

intermediate level by analysing business-cycle fluctuations in closed

and open economies. To extend the study of macroeconomic theory

to the intermediate level. To analyse the classical and Keynesian

macroeconomic models, and their policy implications, in order to

provide a context for subsequent developments in modern

macroeconomics associated with monetarism, new classical and new

Keynesian economics.

Course Objective:

1.To introduce students to intermediate macroeconomic concepts

and ideas.

2.To promote critical thinking in areas of macroeconomic theory and

policy.

3.To understand macroeconomic variables and interpret them.

4.To understand the role of government in economy.

5.To evaluate impact of policies on economy.

Learning Outcomes:

Students will be able to understand how employment, output,

interest rate and the price level are determined in the classical model

Students will be able to understand the origin of economic growth in

the short run and in the long run

Students will be able to understand the effects of fiscal and monetary

policies

Students will be able to understand the effects of fiscal and monetary

policies under different exchange-rate regimes



prerequisites and co-requisites ECON 1201


components

Microsoft Excel

recommended or required reading 1. Walter J. Wessels. Economics (Business Review Books) Third

Edition;

2. McConnell, Brue and Flynn. Economics: Principles, Problems

& Policies (McGraw-Hill Series in Economics) XXI Edition.

3. Constantine Ziogas. IB Skills and Practice / Economics

(Oxford University press).

Additional information will be distributed either electronically or

delivered in printed forms.


teaching methods

Lectures, case study discussions and brainstorming, reading material

from e-book, quizzes, presentations, exams.


English

course contents:

1 The level of macroeconomic activity

Explain, using a diagram, the circular flow of income between

households and firms in a closed economy with no government.

Identify the four factors of production and their respective payments

(rent, wages, interest and profit) and explain that these constitute the

income flow in the model.

Outline that the income flow is numerically equivalent to the

expenditure flow and the value of output flow.

Explain how the size of the circular flow will change depending on the

relative size of injections and leakages.

Lab. Explain, using a diagram, the circular flow of income in an open

economy with government and financial markets, referring to leakages/

withdrawals (savings, taxes and import expenditure) and injections

(investment, government expenditure and export revenue).

Chapter 13 [1]

2 National Income, its Production, Distribution and Allocation.

Distinguish between GDP and GNP/GNI as measures of economic activity.

Distinguish between the nominal value of GDP and GNP/GNI and the real

value of GDP and GNP/GNI.

Distinguish between total GDP and GNP/GNI and per capita GDP and

GNP/GNI.

Examine the output approach, the income approach and the expenditure

approach when measuring national income.

Evaluate the use of national income statistics, including their use for making

comparisons over time, their use for making comparisons between countries and

their use for making conclusions about standards of living.

Explain the meaning and significance of “green GDP”, a measure of GDP that

accounts for environmental destruction.

Lab. Calculate nominal GDP from sets of national income data, using the

expenditure approach. Calculate GNP/GNI from data . Calculate real GDP,

using a price deflator.

Chapter 13

pp.101[3]

3

Inflation, its causes and effects.

Discuss the possible consequences of a high inflation rate, including greater

uncertainty, redistributive effects, less saving, and the damage to export

competitiveness.

Discuss the possible consequences of deflation, including high levels of cyclical

unemployment and bankruptcies.

Chapter 6 [1]

pp.119[3]

Explain, using a diagram, that demand-pull inflation is caused by changes in the

determinants of AD, resulting in an increase in AD.

Explain, using a diagram, that cost-push inflation is caused by an increase in the

costs of factors of production, resulting in a decrease in SRAS.

Lab. Discuss, using a short-run Phillips curve diagram, the view that there is a

possible trade-off between the unemployment rate and the inflation rate in the

short run.

4

Unemployment: natural rate of unemployment its causes and characteristics.

Discuss possible economic consequences of unemployment, including a loss of

GDP, loss of tax revenue, increased cost of unemployment benefits, loss of

income for individuals, and greater disparities in the distribution of income.

Discuss possible personal and social consequences of unemployment, including

increased crime rates, increased stress levels, increased indebtedness,

homelessness and family breakdown

Lab. Describe, using examples, the meaning of frictional, structural, seasonal

and cyclical unemployment.

Chapter 13[1]

pp. 116[3]

5

Economic growth

The meaning of Growth. Human capital. Physical capital.

Research and Development. The Rule of Law.

How Economic Policy Affects Growth. The Downsides to Economic

Growth.

Lab. Explain the long-term growth trend in the business cycle diagram as the

potential output of the economy.

Chapter 19[1]

pp. 104[3]

6 Introduction to Economic Fluctuations: Aggregate Demand and Supply in the

short and long run.

The meaning of aggregate demand. The AD curve. Explain why the AD curve

has a negative slope. The components of AD. The components of AD.

The meaning of aggregate supply. Alternative views of aggregate supply.

Shifting the aggregate supply curve over the long term. Short-run

equilibrium.

Chapter 14[1]

pp. 114[3]

7 Aggregate Supply and the Short-Run Trade-off Between Inflation and Unemployment.

Equilibrium in the monetarist/new classical model. Equilibrium in the Keynesian model.

The Inflation-Unemployment Trade-Off.

Lab. Use the multiplier to calculate the effect on GDP of a change in an

injection in investment, government spending or exports.

Chapter 16[1]

pp. 114[3]

8 MIDTERM EXAM

9 Consumption, Saving, and Investment.

Consumption Function.

Investment Function. Shifts in Investment.

Determinants of Consumption.

Determinants of Investment.

Factors Shifting the Total Spending Curve.

The Keynesian Model.

Lab. Determining the change in Real GDP by autonomous increase of spending

Chapter 9[1]

pp.154[1]

10 Equity in the distribution of income.

The meaning of equity in the distribution of income. Indicators of income

equality/inequality.

Poverty. The role of taxation in promoting equity.

Other measures to promote equity. The relationship between equity and

efficiency.

Lab. Calculate the marginal rate of tax and the average rate of tax from a set of

data.

Chapter 20[1]

11

The Effect of Spending and Taxation

Types of Fiscal Policy.

The Effect of Spending.

The Effect of Taxation

Fiscal policy and short-term demand management.

Limits of an Active Fiscal Policy.

Lab. Explain the mechanism through which contractionary fiscal policy can help

an economy close an inflationary gap.

Chapter 11[1]

pp. 129[3]

12 The supply of money

Interest rate determination and the role of a central bank.

Measuring Money. Balance sheets and Banks.

Money Creation. Taylor’s Rule.

Lab. Explain that central banks are usually made responsible for interest rates

and exchange rates in order to achieve macroeconomic objectives.

Chapter 12[1]

pp.131[3]

13 Money and Aggregate Demand

The Quantity Theory of Money.

The Long-run Neutrality of Money.

The Short-run Effects of Money: The Monetarist Model

Keynesian Model of the Short-run effects of Money.

Lab. Construct a diagram to show the potential effects of tight (contractionary)

monetary policy, outlining the importance of the shape of the aggregate supply

curve.

Chapter 13[1]

pp. 133[3]

14

Development economics

Economic growth and economic development.

Common characteristics of economically less developed countries.

Diversity among economically less developed nations.

Measuring development. Domestic factors and economic development.

Lab. Compare and contrast the GDP per capita figures and the GNI per capita

figures for economically more developed countries and economically less

developed countries.

Chapter 27[1]

pp.176[3]

15 International trade and development.

International development goals

Foreign direct investment and economic development. Advantages and

disadvantages of FDI for economically less developed countries.

Lab. Explain the reasons why MNCs expand into economically less developed

countries.

Chapter 30[1]

pp.186[3]

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2





Final Exam 1 3 3

Total Workload 176




BA PROGRAMS

SYLLABUS

Course unit title Management Economics 1



Level of course unit First cycle Bachelor program



unit is delivered

3rd semester


allocated

6

Name of lecturers Aygul Dadasheva

Class information

Time:




course unit

Course Description

This module introduces students to the economic approaches to the study of

organisations. It also shows how economics can be applied to strategic

management, mergers and acquisitions, and corporate governance.


After completing ECON 2102, students should be able to:

Management Economics as a pluralistic discipline with particular

emphasis on Demand Theory.

Use of computer packages using Regression techniques, to estimate

demand.

Elementary forecasting techniques.

Decision-making under risk and uncertainty

Sequential decision-making



requisites

MATH 1101



MS Office


reading

1. S.Charles Maurice, Christopher R. Thomas. Managerial Economics

7e;

2. Keast, Sarah; Towler, Michael. Rational decision-making for managers: an

introduction. 2009.


printed forms.






Course contents:

1

Managers, Profits, and Markets

Introduction

Managerial Economics and Economic Theory

Chapter 1 [1]

2

Maximizing Profit

Economic profit vs. accounting profit

Market structure and managerial decision making

Present value (Software commands for MS Excel.)

3 Elasticity and demand

Elasticity and total revenue

Factors affecting demand elasticity

Calculating demand elasticity

Marginal revenue, demand, and elasticity

LAB. Elasticity of demand, total revenue (Software commands for MS Excel.)

Chapter 6 [2]

4

5

Basic estimation techniques

The simple linear regression model

The Multiple Regression Model

Nonlinear regression analysis

Regression Equation (Software commands for MS Excel)

Chapter 4 [1]

6

7

DEMAND FORECASTING

Qualitative forecasting techniques

Time-series forecasts of sales and price

Seasonal (or cyclical) variation

Econometric models

Forecasting sales (Software commands for MS Excel.)

Chapter 7 [1]

8 Midterm Exam

9 Introduction to Decision Making

Uncertainty and Risk in Decision-taking

Probability

Sequential Decisions

Robustness Analysis

Decision Tree Analysis

Chapter 1,8,9 [2]

10

11

Managerial Decisions in Competitive Markets

Characteristics of Perfect Competition

Demand Facing a Price-Taking Firm

Profit Maximization in the Short Run

Profit Maximization in the Long Run

Profit-Maximizing Input Usage

Average and Marginal Cost Curves, Economic Profit (Software commands for

MS Excel.)

Chapter 11[1]

12

13

Managerial Decisions for Firms with Market Power

Measurement of Market Power

Barriers to Entry

Profit Maximization Under Monopoly: Output and Pricing Decisions

Profit-Maximizing Input Usage

Implementing the Profit–Maximizing Output and Pricing Decision

Multiplant Firms

Average Variable Cost Function, Estimated Marginal Cost Function (Software

commands for MS Excel.)

Chapter 12[1]

14

15

Decisions Under Risk and Uncertainty

Distinctions Between Risk and Uncertainty

Measuring Risk with Probability Distributions

Decisions Under Uncertainty

Expected Profit (Software commands for MS Excel.)

Chapter 15 [1]

FINAL EXAM



(hour)

Total Workload

(hour)


42



Midterm Exam 1 2 2



Quiz (including preparation and

presentation) 2 5 10


Final Exam 1 3 3

Total Workload 178




BA PROGRAMS

SYLLABUS

Course unit title

Microeconomics for Business Economics

Course unit code

ECON 2103




Semester/trimester


is delivered

3rd semester

Number of ECTS

credits allocated 6

Name of lecturer Mirzoyev Yalchin


Time:



+994507249942


the course unit

This course provides the study of how individuals and firms make

themselves as well off as possible in a world of scarcity and the

consequences of those individual decisions for markets and the entire

economy. It’s examined how individual consumers and firms make decisions

and how the interaction of many individual decisions affects markets. The

field of microeconomics is often called price theory to emphasize the

important role that prices play. It explains how the actions of all buyers and

sellers determine prices and how prices influence the decisions and actions of

individual buyers and sellers.

Learning Outcomes:

On successful completion of the course, students should be able to:

• Reason about economic topics, and provide logical analysis of specific

economic problems;

• Demonstrate economic analysis of topics which start from individual

choices;

• Analyze individual consumption behavior;

• Understand the implications of profit maximization for firms;

• Combine the knowledge of consumption and production behavior to

provide a general equilibrium analysis of economic activities.



requisites

Prerequisites: MATH 1101

Recommended

optional programme

components

MS Excel

Recommended or 1. Jeffrey M. Perloff: “Microeconomics”, Pearson, 6th Edition, 2012.


required readings:

2. Robert S. Pindyck, Daniel L. Rubinfeld: “Microeconomics”, Pearson, 8th

Edition, 2013.

Optional readings:

3. Hal R. Varian: “Intermediate Microeconomics: A Modern Approach”, W. W.

Norton & Company, 9th Edition, 2014

4. Maurice S. Charles, Christopher R. Thomas: “Managerial Economics”, 12th

Edition, 2013;

5. Saul Estrin, Laidler David, Michael Dietrich: “Microeconomics”, Prentice Hall,

5th Edition, 2008

Planned learning activities and teaching methods Lectures, class discussions, task

solutions, assignments, quizzes and exams.

Note: Plagiarism is not acceptable. All research papers are checked by special program

tool – TURNIITIN.

Language of

instruction

English


Course contents

1. Introduction. Supply and Demand

• Microeconomics: The Allocation of Scarce Resources;

• Who Makes the Decisions;

• The Demand Curve;

• The Demand Function;

• The Supply Curve;

• The Supply Function;

• Using a Graph to Determine the Equilibrium;

Using Math to Determine the Equilibrium

Problem Solving with Spreadsheet Excel Modeling

{P 36 Equilibrium Price, p.41 [1]} {P 40 Additional Factors

Analysis, p.41 [1]}

Ch. 1,2 [1]

p.1,9

2. Applying the Supply-and-Demand Model

• How Shapes of Supply and Demand Curves Matter;

• Price Elasticity of Demand;

• Elasticity Along the Demand Curve;

• Demand Elasticity and Revenue;

• Other Demand Elasticities;

• Elasticity of Supply;

• Elasticity Along the Supply Curve.


{P 35 Income Elasticity of Demand, p.72 [1]} {P 38 Price Change,

p.72 [1]}

Ch. 3 [1]

p.42

3. Consumer Choice

• of Consumer Preferences;

• Utility Function;

• Utility and Marginal Rates of Substitution;

• Effect of a Change in Income on the Opportunity Set;

• Constrained Consumer Choice.


{P 41 Budget Line, MRS, Optimal Bundle, p.110 [1]}

Ch. 4 [1]

p.73

4. Applying Consumer Theory

• Indifference Curves and a Rotating Budget Line;

• Price-Consumption Curve;

Ch. 5 [1]

p.111

• How Changes in Income Shift Demand Curves;

• Consumer Theory and Income Elasticities;

• Income and Substitution Effects with a Normal Good;

• Income and Substitution Effects with an Inferior Good.


{P 34 Marginal Rate of Substitution, Marginal Rate of

Transformation, Optimal Choice, p.150 [1]}

5. Firms and Production

• The Ownership and Management of Firms;

• What Owners Want;

• Production;

• Production Functions;

• Short-Run Production: One Variable and One Fixed Input;

• Long-Run Production: Two Variable Inputs;

• Isoquants;

• Productivity and Technical Change.


{P 26 Average and Marginal Product, p.183 [1]} {P 31 Return to

Scale, p.183 [1]}

Ch. 6 [1]

p.151

6. Costs

• The Nature of Costs;

• Opportunity Costs;

• Short-Run Costs;

• Long-Run Costs;

• Why Costs Fall over Time;

• Cost of Producing Multiple Goods.


{P 26 Average Fixed Cost, Marginal Cost, Average Variable Cost,

Average Cost, p.224 [1]} {P 30 Long Run Cost, p.225 [1]}

Ch. 7 [1]

p.184

7. Competitive Firms and Markets. Applying the Competitive Model

• Perfect Competition;

• Price Taking;

• Deviations from Perfect Competition;

• Profit Maximization;

• Competition in the Short and Long Runs;

• Consumer Welfare;

• Competition Maximizes Welfare.


{P 35 Profit Maximizing Condition, p.268 [1]} {P 37 Producer

Surplus, p.315 [1]}

Ch. 8,9 [1]

p.226,270

8. Midterm

9. General Equilibrium and Economic Welfare

• General Equilibrium;

• Trading Between Two People;

• Competitive Equilibrium;

• Comparative Advantage.


{P 24 General Equilibrium, p.351 [1]} {P 28 Marginal Rate of

Substitution, p.351 [1]}

Ch. 10 [1]

p.316

10.

Monopoly

• Monopoly;

• Marginal Revenue;

• Choosing Price or Quantity;

• Market Power;

Ch. 11 [1]

p.353

• Market Power and the Shape of the Demand Curve;

• Lerner Index;

• Sources of Market Power.


{P 23 Marginal Revenue Function, p.390 [1]}

11.

Oligopoly and Monopolistic Competition

• Market Structures;

• Cartels;

• Why Cartels Form;

• Why Cartels Fail;

• Cournot Model.


{P 19 Duopoly Cournot Equilibrium, p.479 [1]} {P 30 Collusive

Equilibrium, p.480 [1]}

Ch. 13 [1]

p.436

12.

Interest Rates, Investments, and Capital Markets

• Comparing Money Today to Money in the Future;

• Interest Rates;

• Using Interest Rates to Connect the Present and Future;

• Stream of Payments;

• Choices over Time;

• Investing;

• Capital Markets, Interest Rates, and Investments.


{P 11 Time Value of Money, Present Value, p.570 [1]}

Ch. 16 [1]

p.542

13. Uncertainty

• Uncertainty;

• Degree of Risk;

• Probability and Expected Value;

• Variance and Standard Deviation;

• Decision Making Under Uncertainty;

• Expected Utility.


{P 15 Probability, p.602 [1]} {P 16 Expected Value, p.602 [1]} {P 18

Variance, p.603 [1]}

Ch. 17 [1]

p.573

14. Uncertainty

• Risk Aversion, Neutrality, and Preference;

• Avoiding Risk;

• Investing Under Uncertainty;

• Behavioral Economics of Risk;

• Difficulty Assessing Probabilities.


{P 20 Risk Aversion, p.603 [1]} {P 29 Decision Tree, p.604 [1]}

Ch. 17 [1]

p.580

15. Asymmetric Information

• Problems Due to Asymmetric Information;

• How Ignorance About Quality Drives Out High-Quality Goods;

• Market Power from Price Ignorance;

• Tourist-Trap Model;

• Advertising and Prices.


{P 21 Transaction Cost, Equilibrium, p.664 [1]}

Ch. 19 [1]

p.637

Final


Activities Number

Duration

(hour)

Total

Workload

(hour)




Midterm Examination 1 3 3

Homework 6 7 42


Final Examination 1 3 3

Total Workload 180


ECTS Credit of the Course

6


BA PROGRAMS

SYLLABUS

Course unit title Microeconomics






unit is delivered

4th Semester


allocated

6

Name of lecturers Nigar Kerimli

Class information

Location: Room:

Time:




course unit

Course Description

This module aims to provide a solid foundation of intermediate level

microeconomic theory. It develops and extends three of the topics introduced in

Principles of Microeconomics, namely, Consumer Theory, Producer Theory and

General Equilibrium. It prepares the students for the more advanced modules in the

second and third year like Microeconomics 2 and Game Theory.

Learning Outcomes:

On successful completion of the course, students will have developed

skills in:

demonstrating a thorough understanding of the core concepts and models

used in consumer theory, producer theory and general equilibrium and an

ability to apply these to arrange of markets and settings.

thinking and applying themselves analytically to problems in the above-

mentioned topics.

gaining problem-solving skills using verbal, diagrammatic and

mathematical methods to problems in the above topics.

having a critical perspective regarding the assumptions underlying

microeconomics models.



requisites

MATH 1101




reading

Required readings:

1. Serrano, Roberto; Feldman, Allan. A short course in intermediate

microeconomics with calculus, 2013.

2. Varian, Hal R. Intermediate Microeconomics with Calculus. A Modern

Approach. 9th edition.

Optional readings:

3. Nicholson and Christopher Snyder, Microeconomic Theory: Basic

Principles and Extensions, 11th Edition. South-Western

4. Gibbons, Robert. Game Theory for Applied Economists. Princeton, NJ:

Princeton University Press, 1992.

5. Hull, John C. Options, Futures, and Other Derivatives, Ninth Edition,

Prentice Hall.



Classroom lecturing, case study discussions and brainstorming, feedback and

presentation sessions, discussion sessions, Software commands for Excel, quizzes

and exams


Course contents:

1 INTRODUCTION

a) Introducing Key Concepts

b) Competitive markets

c) Demand and elasticities

Chapter 1 [1]

2 THEORY OF THE CONSUMER

a) The Consumer’s Preference Relation

b) The Marginal Rate of Substitution

c) The Consumer’s Utility Function

d) Utility Functions and the Marginal Rate of Substitution

Spreadsheet Models on:

A. Supply, demand and price policies (ch 1 {3})

B. Iso-elastic supply and demand functions (ch 4 {3})

Chapter 2, [1]

3 THE BUDGET CONSTRAINT AND THE CONSUMER’S OPTIMAL

CHOICE

a) The Standard Budget Constraint, the Budget Set, and the Budget Line

b) Shifts of the Budget Line

c) Odd Budget Constraints

d) Income and Consumption over Time

e) The Consumer’s Optimal Choice: Graphical Analysis, Utility

Maximization Subject to the Budget Constraint

Chapter 3[1]

Chapter 2 [1]

4 DEMAND FUNCTIONS

a) Demand as a Function of Income

b) Demand as a Function of Price

c) Demand as a Function of Price of the Other Good

d) Substitution and Income Effects

e) The Compensated Demand Curve


A. Shifts of the supply curve (ch 1 {9})

B. Implications of structural policies over time (ch 10 {3})

C. Optimal structural policies (ch 11 {3})

Chapter 4[1]

Chapter 6[1]

5 SUPPLY FUNCTIONS FOR LABOR AND SAVINGS

a) Choice between Consumption and Leisure

b) Substitution and Income Effects in Labor Supply

c) Other Types of Budget Constraints

d) Taxing the Consumer’s Wages

e) Saving and Borrowing: The Intertemporal Choice of Consumption

Distribution of Assignment 1 (to be finished in 1.5 weeks)

Chapter 6[1]

6 PREFERENCES a) Consumer Preferences

b) Assumptions about Preferences

c) Indifference Curves

d) Perfect Substitutes


A. Microeconomic foundations (ch 13 {3})

B. Formulation of a four-market model (ch14{3})

C. Optimal structural policies (ch 11 {3})

Chapter 3[2]

7 UTILITY FUNCTIONS AND INDIFFERENCE CURVES

a) Indifference Curves from Utility Perfect Substitutes

b) Quasilinear Preferences

c) Cobb-Douglas Preferences

d) Marginal Utility

e) Marginal Utility and MRS

Chapter 4[2]

8 MIDTERM EXAM

9 CONSUMER CHOICE

a) Optimal Choice

b) Consumer Demand

c) Estimating Utility Functions

d) Implications of the MRS Condition

e) Choosing Taxes


A. Model framework for a 12-market model (ch 15 {3})

B. Optimisation approach (ch16 {3})

Chapter 5[2]

10 REVEALED PREFERENCE

a) The Idea of Revealed Preference

b) From Revealed Preference to Preference

c) Recovering Preferences

d) The Weak Axiom of Revealed Preference

e) The Strong Axiom of Revealed Preference

Chapter 7[2]

11 SLUTSKY EQUATION

a) The Substitution Effect

b) The Income Effect

c) Use of the Slutsky Equation

Distribution of Assignment 1 (to be finished in 1.5 weeks)

Chapter 8[2]

12 CONSUMER’S SURPLUS

a) From Consumer’s Surplus to Consumers’ Surplus

b) Quasilinear Utility

c) Interpreting the Change in Consumer’s Surplus

d) Benefit-Cost Analysis

Chapter 14[2]

13 COST MINIMIZATION

a) Cost Minimization

b) Revealed Cost Minimization

c) Returns to Scale and the Cost Function

d) Long-Run and Short-Run Costs

Chapter 20[2]

e) Fixed and Quasi-Fixed Costs

Case Study

The Cost Minimization of Refuse Collection Operations

14 PARTIAL EQUILIBRIUM ANALYSIS: MARKET STRUCTURE

a) Perfectly Competitive Markets

b) Monopoly and Monopolistic Competition

c) Game Theory

Case study

Monopolistic competition and oligopoly

Chapter 11, 12,

14[1]

Chapter 24, 25,

28[2]

15 WELFARE ECONOMICS

a) Aggregation of Preferences

b) Social Welfare Functions

c) Welfare Maximization

d) Individualistic Social Welfare Functions

Chapter 23[2]

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2



Homework 3 7 21


Final Exam 1 3 3

Total Workload 179




BA PROGRAMS

SYLLABUS

Course unit title Management Economics 2






unit is delivered

4th semester


allocated

6

Name of lecturers Aygul Dadasheva

Class information

Time:




course unit

Course Description

This module introduces students to the economic approaches to the study of

organisations. It also shows how economics can be applied to strategic

management, mergers and acquisitions, and corporate governance.



understand how organisations achieve co-ordination,

understand informational problems for markets and organisations,

analyze goals and decision-making within the firm using behavioural

theories, analyzing and presenting data obtained,

understand agency relations between owners, managers and

employees,

analyze the effects of transactions costs on choosing between markets

and organisations and organisational forms,

understand the contribution of economics to strategic management,

mergers and acquisitions, agency problems of corporate governance,

describe the resource-based view of the firm.



requisites

ECON 2102



MS Office


reading

1. Douma, S. W.; Schreuder, H. Economic approaches to organizations.

Pearson; 5 edition. 2013.

2. S.Charles Maurice; Christopher R. Thomas. Managerial Economics.

McGraw Hill Higher Education; 9th edition, 2015


printed forms.






Course contents:

1 Markets and organizations

Introduction

The economic problem

The division of labor

Specialization

Coordination

Markets and organizations

Chapter 1 [1]

2 Markets

Introduction

Market interaction: analysis of demand and supply

Demand. Generalized demand function.

The law of demand

Supply. Generalized supply function

Demand and supply functions (Software commands for MS Excel.)

Chapter 2 [2]

3 Markets

Introduction

Market Equilibrium

Changes in Market Equilibrium

Competitive markets

Equilibrium price and quantity (Software commands for MS Excel)

Chapter 2 [2]

4 Organizations

Introduction

The world of organizations

Organizational coordination

Types of organizations

The rise of the Internet and the digitization of organizations

Chapter 3 [1]

5 Information

Introduction

Coordination and information

Hidden information

Information as an economic good

Chapter 4[1]

6 Game theory

Introduction

The prisoner’s dilemma

Coordination games

Auctions

Chapter 5[1]

7 Theory of Consumer Behavior

Introduction

Consumer preferences and utility

The consumer’s budget constraint

Substitution and income effects

Market demand curves

Consumer’s indifference curve, consumer’s indifference map (Software

commands for MS Excel. )

Chapter 6[2]

8 Midterm Exam

9 Empirical Demand Analysis

Introduction

Direct methods of Demand Estimation

Chapter 7 [2]

Specification of the Empirical Demand Function

Demand estimation: market determined vs. manager determined prices

Estimated market demand, empirical demand (Software commands for MS

Excel. )

10 Breakeven Analysis & Limiting Factors

Introduction

Breakeven analysis and contribution

Breakeven Point

The contribution/sales (C/S) ratio

Limiting factors

C/S and breakeven point, the margin of safety (Software commands for MS Excel.

)

Chapter 20 [3]

11 Behavioral theory of the firm

Introduction

The firm as a coalition of participants

Organizational goals

Organizational expectations

Organizational choice

Chapter 7 [1]

12 Agency theory

Introduction

Separation of ownership and control

Managerial behaviour and ownership structure

Entrepreneurial firms and team production

Applying agency theory

Chapter 8 [1]

13 Production and cost in the short run

Introduction

Some basic concepts of production theory

Production in the short run

Summary of short-run production

The nature of economic costs

Summary of short run cost

Explicit and implicit costs, variable costs (Software commands for MS

Excel. )

Chapter 3[2]

14 Economic contributions to business/competitive

strategy

Introduction

Industry analysis

Competitor analysis

Competitive strategy

Resource-based view of the firm

Chapter 11[1]

15 Evolutionary approaches to organizations

Introduction

Giraffes

Organizations and giraffes

Organizational ecology

Chapter 12 [1]

FINAL EXAM



(hour)

Total Workload

(hour)


42



Midterm Exam 1 2 2



Quiz (including preparation and



Final Exam 1 3 3

Total Workload 176




BA PROGRAMS

SYLABBUS

Course unit title Industrial Organization






unit is delivered

Fifth semester


allocated

6

Name of lecturers Natig Mammadov

Class information

Location: Room:

Time:

Office hours: upon students’ appointment.



course unit

Course Description

To apply the tools of microeconomics to the analysis of firms, markets and

industries in order to understand the nature and consequences of the process of

competition. These tools will also be applied to the evaluation of relevant

government policy. This will extend knowledge and skills of microeconomic

analysis by covering recent advances in theory as well as empirical analysis of

relevant microeconomic topics.

Course Objectives

* Familiarize students with key questions in the field of industrial organization

and regulation and their relevance.

* Introduce them to basic economic and strategic models of industrial

organization using game theoretic solution concepts such as Nash equilibrium and

subgame perfect equilibrium.

* Enable them to solve for the "equilibrium" in various models of markets

including oligopolistic markets, markets with dynamic interaction, markets with

price discrimination and markets with vertical interaction.

* Create the ability to use strategic thinking to predict market outcomes in simple

settings.

Course Learning Outcomes

1. Students will be able to use economic principles, concepts and techniques

to discuss and analyse government policy and economic performance

with reference to standard frameworks in Industrial Organisation.

2. Students will be able to apply standard frameworks, including verbal,

graphical, mathematical and statistical representations of economic

concepts and models, to explain and evaluate the effects of a range of

competitive behaviours by firms and how they are influenced by

economic incentives.

3. Students will be able to analyse current issues and problems in business

and industry.

4. Students will be able to compare, contrast and critically evaluate

alternative schools of thought in Industrial Organisation with reference to

empirical evidence.

5. Students will be able to conduct competent applied economic research by

locating, selecting and analysing information relevant to the study of

Industrial Organisation.



requisites

ECON 2102, ECON 2103



Microsoft Office


reading

The Textbook:

1. Lipczynski, John; Wilson, John O. S.; Goddard, John A. Industrial

organization: competition, strategy, policy. Pearson 4th edition. 2013.

2. Cabral Luis M. B. Introduction to industrial organization. The MIT Press, 2017

3. Paul R. Ferguson, Glenys J. Ferguson. The Structure-Conduct-Performance

Paradigm. In: Industrial Economics. Palgrave, London. 1994.

Supplementary materials: Lectures delivered by the Teacher

Course reading is composed of articles, laws as well as book chapters. Additional

information will be distributed either electronically or delivered in printed forms.






Course contents:

1 Introduction to İndustrial Organization

What is industrial organization?

What are the different approaches studying industrial organization?

Chapter 1 [1]

Chapter 1 [2]

(p 5-27 [1])

(p 3-29 [2])

2

The Structure-Conduct-Performance Paradigm

The Basic Elements of Structure-Conduct-Performance

The Effect of Concentration on Price

Concentration and the Extent of Suboptimal Capacity

Chapter 2 [3]

(p 13-37 [3])

3 Traditional Oligopoly Model

Classical Models of Oligopoly

Cournot’s Duopoly Model

Bertrand’s Duopoly Model

Edgeworth Duopoly Model

Chamberlin’s Oligopoly Model

Chapter 7 [1]

Chapter 8 [2]

(p 123-148 [1]) (p

143-169 [2])

4

Entry and Exit

Entry-Exit-System

Barriers to Entry and Exit

Cost advantages and entry barriers

Chapter 12 [1]

Chapter 10 [2] (p

213-237 [1]) (p 179-

199 [2])

5

Cartels: theory and evidence

Characterizing internal cartel stability

A new empirical analysis of recent firm level fines

Chapter 8 [1]

Chapter 9 (p 151-71

[1]) (p 149-178 [2])

6 The Economics of Product Differentiation

Product Differentiation

Product Differentiation - a Key Concept in Economics and Management

Product Differentiation and Economic Progress

Chapter 16 [1]

Chapter 14 [2] (p

305-325 [1]) (p 253-

297 [2]

7 The Economic Theory of Product Differentiation

Spatial models of imperfect competition

Symmetric preferences, the Chamberlinian paradigm

Product diversity and product selection: market equilibria and social optima

Product quality and market structure

Chapter 15 [1]

Chapter 15 [2] (p

287-304 [1]) (241-

252)

8 MIDTERM EXAM

9 Vertical integration and vertical restraints

The double-marginalization problem

The free-rider problem

Competition between suppliers

Vertical restraints and public policy

Chapter 20, 21 [1]

Chapter 13 [2] (p

395-427 [1]) (p 237-

252 [2])

1

0

Diversification vs Concentration Strategies

Diversification vs Concentration Strategies and Firm Performance

Moderating Effects of the Market, Product and Firm Factors

Chapter 16 [1]

Chapter 7 [2]

(p 305-318 [1]) (p

111-122 [2]

1

1

Measures of Concentration and Diversification

Concentration based on Gini

Application to measuring economic development

Chapter 23 [1]

Chapter 14 [3]

(p 465-487 [1]) (p

297-328 [3])

1

2

The Economics of Advertising

Advertising: Persuasion and Welfare

Advertising and Search Goods

Advertising and Product Quality Information

Advertising and Market Structure

Chapter 17 [1]

Chapter 15 [3] (p

319-331 [1]) (p 329-

345 [3])

1

3

Innovation

Background to Innovation Deals

Key Steps towards Business İnnovation

The Essentials of İnnovation

Innovation Deals in practice

Chapter 16 [2]

Chapter 16 [3]

(p 305-321 [2]) (p

347-367 [3])

1

4

Innovation Process

Stages of the Innovation Process

Idea Generation and Mobilization

Advocacy and Screening

Experimentation

Chapter 17 [2]

Chapter 17 [3] (p

323-347 [2]) (p 369-

381 [3])

Commercialization

Diffusion and Implementation

1

5

Technology Policy

Economic theory and government technology policy

Appropriability and Policy

The New Economics of Technology Policy

Chapter 24 [1]

Chapter 19 [3] (p

489-503 [1]) (p 397-

5013 [3])

FINAL EXAM

Workload


(hour)

Total Workload

(hour)




Midterm Exam 1 2 2



Homework 3 6 18


Final Exam 1 3 3

Total Workload 177




BA PROGRAMS

SYLLABUS

Course unit title Competition and Regulation






unit is delivered

5th semester


allocated

6

Name of lecturer Natig Mammadov

Class information

Location: Room:

Time:




course unit

Course Description

To apply the tools of microeconomics to the analysis of firms, markets,

consumers and regulators in order to understand the nature and consequences

of the process of competition and regulation. These tools will also be applied

to the evaluation of competition and government policy. This will extend

knowledge and skills of microeconomic analysis by covering recent advances

in theory as well as empirical analysis of relevant microeconomic topics.

Course Objectives

Use economic principles, concepts and techniques to discuss and analyse:

the power and limitations of competition as a force for market

regulation;

government policy to regulate market power to protect firms,

consumers and employees.

Apply standard frameworks, including verbal, graphical, mathematical and

statistical representations of economic concepts and models, to explain and

evaluate the effects of a range of behaviours by firms and regulators and how

they are influenced by economic incentives.


Upon successful completion, students will have the knowledge and skills to:

1. Identify and analyse current issues and problems in regulation and

propose solutions.

2. Compare, contrast and critically evaluate regulation of different

industries and market failures.

3. Communicate effectively orally and in writing and in accordance

with project specifications

4. Conduct independent research in applied economics

5. Deliver a professional quality formal presentation by exhibiting:

clarity and appropriate pace; logical structure; credibility; effective

use of visual aids/technology



requisites

ECON 2102



Microsoft Office


reading

The Textbook:

1. Sherman, Roger. Market Regulation. Prentice Hall. 2008

2. Motta, Massimo. Competition policy: theory and practice .

Cambridge University Press. 2004.

3. Lipczynski, John; Wilson, John O. S.; Goddard, John A. Industrial

organization: Competition, Strategy, Policy. Pearson Education. 4th

edition. 2013

Supplementary materials: Lectures delivered by the Teacher

Course reading is composed of articles, laws as well as book chapters.


printed forms.






Course contents:

1 Introduction to Competition & Regulation

The rationale for regulation

Chapter 1 [1]

(p 21-38 [1])

2

Market structure – competition as a market regulator

Market failure – problems for competition as regulator

Regulatory basics: Strategies, incentives & enforcement

Who regulates the regulators?

Chapter 5 [1]

Chapter 1 [3]

(p 117-135

[1]) (p 3-19

[3])

3 Introduction to UK, EU & US competition policy

Regulating monopolies, mergers & restrictive practices (antitrust)

Understanding the legal framework

Chapter 1 [2]

Chapter 2 [1]

(p 7-29 [2]) (p

39-49 [3])

4 Relevant institutions & their roles

Rules & remedies

Evaluating competition policy

Chapter 2 [1]

Chapter 3 [2]

(p 31-51 [[1])

(p 63-77 [2])

5 Price discrimination & other restrictive practices

Predatory pricing

Chapter 6 [2]

Chapter 18-19

[3] (p 125-159

Vertical restraints & tying

Restrictive practices

[2]) (p 520-

565 [3])

6 Issues in Competition Policy: Mergers, Market Definition and Market Power

Will a merger increase market power? The ‘SSNIP’ test.

Market definition: approaches in US & EU competition policy

Product markets and geographical markets

Chapter 5 [2]

Chapter 17 [3]

(p 017-123

[2]) (p 499-

519 [3])

7 Evidence on market definition:

Own-price elasticities

Cross-price elasticities and diversion factors

Price parallelism studies

Consumer surveys

Chapter 2 [2]

Chapter 12 [1)

(p 31-59 [2])

(p 231-257

[1])

8 MIDTERM EXAM

9 Evidence from related markets: does market power increase prices?

Supermarket case study

Relation to market share tests

Market definition and abuse of dominant position cases

Chapter 11 [1]

Chapter 12 [3]

(p 257-281

[1]) (p 315-

353)

10 Privatisation, Regulation & Competition

Network industries – economies of scale & scope

Efficient pricing strategies

RPI-X & rate of return regulation

Chapter 3 [1]

Chapter 8 [2]

(p 51-68 [1])

(p 191-217

[2])

11 Privatisation, regulation & de-regulation of UK network industries

Telecoms & Energy

Regulation of Externalities: Environment & Health & Safety

Standard setting

Chapter 7 [2]

Chapter 21 [3]

(p 161-187

[2]) (p 593-

620 [3])

12 Alternative policy instruments

Regulating risk

Valuation of non-market goods

Chapter 12-13

[1]

(p 283-297

[1]) (p 299-

327 [1])

13 Financial Regulation

Financial Regulation Law and Legal Definition

The Goals of Financial Regulation

The Strategies of Financial Regulation

Chapter 22 [3]

(p 623-636)

14 Banking regulation

Banking regulation and supervision

General principles

Instruments and requirements

Chapter 22 [3]

(p 623-636)

15 Self-Regulation

Regulation in the wake of the recent financial crisis

Regulatory reform in the wake of the financial crisis

Chapter 8 [1]

Chapter 19 [1]

(p 237-249

[1]) (p 419-

437 [1])

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2



Homework 3 6 18


Final Exam 1 3 3

Total Workload 178




BA PROGRAMS

SYLLABUS

Course unit title International Economic Relations




Year of study Fourth year


the course unit is delivered

7th Semester


allocated

6

Name of lecturers Anar Mammadov


Days/Time:

Office hours: upon students’ appointments



course unit

Course description:

The main goal of the course is to build up the understanding of the theory and

policy of the contemporary global economics. The focus of the course is not only

on traditional theories of international economics, i.e. on international trade,

finance and growth, but on modern trends of the global economic development and

on the latest empirical research in the most important spheres of the global

economics. Global economy currently faces damage due to economic,

environmental, and political crises, crashes on financial markets, etc. Such

problems of sustainable development as climate change, water scarcity or food

insecurity become an integral part of global economy. As coping with them

requires international cooperation these problems are at the centre of world

economy and international relations agenda.

Course Aims:

The aim of this module is to provide a detailed coverage of the nature and

determinants of the pattern of world trade and financial, capital and labour flows.

The module also aims to provide students with a critical appreciation of why

conflicts arise between nations due to international economic activity and what

policy options are most appropriate for countries both individually and

cooperatively to adopt. Throughout the module emphasis will be placed upon the

role of theory in enhancing understanding of the patterns and nature of trade flows

(in the context of both goods and services) in the context of the key issues in

international economic relations.

Course Objectives:

The objective of the course is to offer students an introduction to the theory of

international trade. The course will cover the most important international

economic relations issues, and will often refer to current issues of international

trade politics and globalization. Among the treated questions are: Why do countries

trade? Does international trade deepen wage inequality? Is growth in emerging

economies bad for Western countries? How does trade affect competition? What


are the consequences of protectionism? Although the course will emphasize the

understanding of past and current events in the world economy, we will heavily

rely on formal economic modelling to help us understand these events.

Learning Outcomes:

Upon completion of this course, students should be able to:

Students will be able to explain why countries gain from trade and what

pattern of trade flows exist using classic trade theories.

Students will be able to explain why countries engage in trade protection,

as well as predict and analyze the consequences that arise in case such

protection is applied

Students will be able to explain how key flows of goods, services, money

and physical capital are valued. They will be able to use real and nominal

exchange rates, understand, explain and apply the concept of PPP.

Students will be able to explain the reasons why trade blocs are formed and

analyze and explain their costs and benefits. They will also be able to

distinguish between trade blocs among countries of similar as well as

different development levels.

Students will be able to explain why conflicts arise in the areas of labour

migration and environmental pollution and suggest policy responses which

may be used to correct such problems

Students will be able to explain the causes and consequences of financial

crises and how financial contagion can spread from one country to another

Students will be able to explain the links between trade and capital flows

and economic development using examples of the Latin American and East

Asian countries



requisites

Students must have good command of English language in order to be able to

participate in class discussions and understand the course materials

IT skills



-


reading

Required:

1. Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz, International Economics:

Theory and Policy. 9th Edition. Pearson, 2015

2. James Gerber, International Economics, 7th Ed., Pearson, 2015

3. Robert Gilpin and Jean M. Gilpin, Global Political Economy: Understanding the

International Economic Order, Princeton University Press, 2001

Recommended (additional reading):

1. Frederic Mishkin, The Economics of Money, Banking, and Financial Markets,

10th ed., Columbia University, 2013

2. Grinblatt-Titman: Financial Markets and Corporate Strategy, Second Edition,

The McGraw-Hill Companies, 2002

3. International Financial Markets: A Diverse System is the Key to Commerce,

Anjan Thakor, Olin School of Business, Washington University in St.Louis, 2015

4. Financial Markets of Eastern Europe and the Former Soviet Union, François-Eric

Perquel, Cambridge Gresham Books/Woodhead Publishing Limited, 1998



Lectures, presentations, class discussions, quizzes (for review sake), additional

readings, exams

Language of instruction

English

Work placement(s)

-

Course Contents:

1 Intro to the Global Economics

What is global economics about?

Definitions and the origins

Global trends in the post-international economics

Objective economic necessity to be part of the global economy

Case Study: Azerbaijan in the context of global economic relations

Chapter 1 [1]

Chapter 1 [2]

2 International Finance and Globalisation: An Overview

Reasons for Globalisation

Impact of globalization on global financial and capital markets

Case Study: Azerbaijan as a Financial Hub – What makes International

Finance special?

Chapter 21 [1]

Chapter 10 [3]

3

Global Governance and International Organisations

In the absence of a world government, how do institutions,

NGOs, and international organisations work to manage

transnational governance?

Global economics with national governance?

Theoretical concepts of global governance

National, regional and international facets of governance

TNC as governance actors

Case Study: Multinational TNCs Presence: Impacts, Advantages and

visible Shortcomings

Chapters 2, 8 and 12 [2]

4 Developing Countries: Growth, Crisis, and Reform

The gap between rich and poor

Indicators of economic welfare in four groups of countries

Structural features of developing countries

Developing country borrowing and debt

The problem of default

The problem of original sin

Case Study: Economic Populism in Peru, 1985-1990

Chapter 22 [1]

5 Financial Instruments, Financial Markets, and Financial Institutions

International financing and international financial markets

Funds flows through the financial system

Corporate sources and uses of funds

National capital markets as international centres

The Euromarkets

Case Study: the Euromarkets as international Centres

Chapter 10 [3]

Additional reading:

Chapter 1 [2]

6 Financial Markets vs. Capital Markets

Characteristics of financial and capital markets

Role and structure of markets

Financial instruments employed

Underlying vs. derivatives

Case Study: Dotcoms phenomenon and its consequences for the global

markets

Chapter 21 [1]

Additional reading:

Chapter 7 [1]

7 International Equity Market, Lending, and Foreign Debt

Instruments employed in equity markets

International lending and its impact on economic processes

globally

Foreign debt: advantages and disadvantages

Sovereign debt

Case Study: Kenya’s Domestic Debt

Additional reading: [3]

8 MIDTERM EXAM

9 Institutionalisation of Financial Relations

Formation of resources and their redistribution

Trends in development of a global financial market

Integration and financial innovations

Problem Solving: Problematic of Integration

Chapter 1 [6]

10 National Income Accounting and the Balance of Payments

National income: definition, methods of calculation and issues

Balance of Payments: statement

Contents, importance, and causes of disequilibrium in Balance

of Payments

Case Study: Balance of Payments of Azerbaijan; the Economics of

Financial Inflows to Developing Countries

Chapter 13 [1]

Additional reading:

Chapter 18 [1]

11 Main Types of Financial Risks

Types of risks

Estimating techniques

Issues in global financial risk management

Problem Solving: Issues in Risk Management and Ways of Solution

Chapter 15 [1]

12 Risks of Stock Market and Financial Crises

Stock markets in developing and developed countries

Causes of financial crises and outcomes of financial markets

Causes of global crises 2008 and 2011

Methods of regulation of financial markets

Problem Solving: Market Imperfections, and their Affect on the

Global Markets

Chapter 18 and 22 [1]

Additional reading:

Chapter 10 [1]

13 Reasons of Payment Crisis and Resolutions of Payment Crises

Problems of financial markets in CIS and developing countries

Priorities

Ways of solution

Case Study: The Debt Crisis of the 80s: Underlying Reasons,

Development and Consequences

Chapter 22 [1]

Additional reading:

Chapter 9 [1]

14 Globalisation. MNCs

Global financial market

Financial architecture of global economy

MNCs in global financial market system

Integration processes in global financial markets

Azerbaijan in global financial market system

Case Study: Do the WTO Rules Against Industrial Policies Hurt

Developing Countries?

Chapter 21 [1]

Chapter 11 [3]

15 Features of the Modern Development of Financial Markets in CIS

Countries

Problems and issues in transition period

Financial deficits and proficits in CIS economies

Debt obligations of CIS countries

Additional reading:

Chapter 1 to 7 [4]

Trends in modern development on financial markets

Case Study: International Financial Management on example of

Enron, WorldCom and Global Crossing

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 3 3

Compulsory Reading 1 15 15

Additional Reading 1 5 5


Final Exam 1 3 3

Total Workload 186




BA PROGRAMS

SYLLABUS

Course unit title Economics of Developing Countries


Type of course unit Elective


Year of study 3-4


unit is delivered

5-8


allocated

6

Name of lecturers Rovshan Guliev

Class information

Location: Room:

Time:




course unit

Course Description

The purpose of a course is formation at students of knowledge of features of

economy of developing countries. We will be focused on the problems

interfering development of economies of the remaining countries. As such,

problems represent a wide range, we plan to analyze with you main of them,

both universal, and specific. You will examine theoretical generalizations of

the economic regularities concerning developing countries; will seize

professional knowledge and understanding of the modern social and economic

processes happening in the developing societies.



Measure Economic Development.

Interconnect Development with:

Environment;

Education;

Health;

Poverty;

Inequality;

International Trade.

Understand the Role of Human Capital, FDI and Infrastructure as ‘Engines

of Development’.

Diagnose the Problems Interfering Development;

Distinguish Problems of Endogenous and Exogenous Character;

Offer Reasonable Ways of Elimination Endogenous Problems and

Mitigation of The Consequences of Exogenous Threats.



requisites

ECON 2101




reading

1. E. Wayne Nafziger. Economic Development. Cambridge University Press.

Fourth Edition, 2005

2. Hendrik Van Den Berg. Economic Growth and Development. McGraw-

Hill UK. 2001

3. David Forsyth, Mozammel Huq, Anthony Clunies-Ross. Development

Economics. McGraw-Hill Education, 2009.

4. Yujiro Hayami. Development Economics. Published to Oxford Scholarship

Online: October 2005.


printed forms.






Course contents:

1. The Meaning and Measurement of Economic Development

Growth and Development

Problems with Using GNP to Make Comparisons over Time,

Problems in Comparing Developed and Developing Countries’ GNP

Purchasing-Power Parity (PPP)

Measurement Errors for GNP or GDP Adjusted for Purchasing Power

“Basic-Needs” Attainment

Chapter 2 [1]

2. Economic Development in Historical Perspective

An Evolutionary Biological Approach to Development, Ancient and

Medieval Economic Growth

Beginnings of Sustained Economic Growth

Capitalism and Modern Western Economic Development

Economic Modernization in the Non-Western World

Economic Growth in Europe and Japan after World War II

Recent Economic Growth in Developing Countries The Convergence

Chapter 3 [1]

3. Characteristics and Institutions of Developing Countries

Varying Income Inequality

Inadequate Technology and Capital

A Dual Economy

Rapid Population Growth

Low Literacy and School Enrollment Rates

An Unskilled Labor Force

Chapter 4 [1]

4. Theories of Economic Development

The Classical Theory of Economic Stagnation,

Balanced Versus Unbalanced Growth

Baran’s Neo-Marxist Thesis

Dependency Theory

The Neoclassical Growth Theory

The New (Endogenous) Growth Theory

Chapter 5 [1]

5. Poverty, Malnutrition, and Income Inequality

Poverty as Multidimensional

Global and Regional Poverty

Early and Late Stages of Development

Low-, Middle-, and High-Income Countries

Slow and Fast Growers

Chapter 6 [1]

Income Equality versus Growth

Poverty, Inequality, and War

6. Population and Development

World Population Throughout History

Population Growth in Developed and Developing Countries

World Population: Rapid but Decelerating Growth

The Demographic Transition

Is Population Growth an Obstacle to Economic Development?

Strategies for Reducing Fertility

Chapter 8 [1]

7. Employment, Migration, and Urbanization

Dimensions of Unemployment and Underemployment

Underutilized Labor

Labor Force Growth, Urbanization, and Industrial Expansion

Disguised Unemployment

Policies for Reducing Unemployment

Chapter 9 [1]

8. Midterm Exam

9. Education, Health, and Human Capital

Investment in Human Capital

Economic Returns to Education

Noneconomic Benefits of Education

Secondary and Higher Education

Education via Electronic Media

Planning for Specialized Education and Training

Achieving Consistency in Planning Educated People

Chapter 10 [1]

10. Capital Formation, Investment Choice, Information Technology, and

Technical Progress

Capital Formation and Technical Progress as Sources of Growth

Components of the Residual

Computers, Electronics, and Information Technology

Investment Criteria

Differences between Social and Private Benefit–Cost Calculations

Shadow Prices

Chapter 11 [1]

11. Entrepreneurship, Organization, and Innovation

Entrepreneur as Innovator

Entrepreneur as Gap-Filler

Functions of the Entrepreneur

Family as Entrepreneur

Multiple Entrepreneurial Function

Achievement Motivation, Self-Assessment, and Entrepreneurship

Theory of Technological Creativity

Chapter 12 [2]

12. The External Debt and Financial Crises

Definitions of External Debt and Debt Service

Origins of Debt Crises

Capital Flight

The Crisis from the

Resolving the Debt Crises

The Policy Cartel

Chapter 16 [1]

13. International Trade

Arguments for Tariffs

Path Dependence and Comparative Advantage

The Application of Arguments For and Against Free Trade to Developed

Countries

Shifts in the Terms of Trade

Import Substitution and Export Expansion in Industry

Chapter 17 [1]

14. Natural Resources and the Environment: Toward Sustainable Development

Sustainable Development

Importance of Natural Resources

Land, Natural Resources, and Environmental Resources

Petroleum

Dutch Disease

Resource Curse

Poverty and Environmental Stress

Chapter 13 [1]

15. Development Planning and Policy Making: The State and the Market

State Planning as Ideology for New States

Afro–Asian Socialism

Dirigiste Debate

Scope of the Chapter

Input–Output Tables and Other Economic Data

Public Policies Toward the Private Sector

Public Expenditures

Chapter 18 [1]

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2



Homework 3 5 15


Final Exam 1 3 3

Total Workload 179




BA PROGRAMS

SYLLABUS

Course unit title Game Theoretical Approaches to Microeconomics




Year of study 3-4

Semester/trimester


delivered

5-8

Number of ECTS

credits allocated

6

Name of lecturer Zakir Pashayev


Time:



Learning outcomes

of the course unit

Course overview

This is the study of strategic interactions, i.e. situations where outcomes depend not

only on our own actions but also how others react to our actions. This module

complements those in core macro and microeconomics and offers more insight into

strategic decisions and competitive behavior in general.

Learning outcomes

At the end of this course, students should be able to:

Distinguish between types of games

Explain game theoretical concepts

Conduct advanced microeconomic analysis by formulating a game and its

associated solution concepts and deriving solutions to games

Apply games in a range of economic, business and social contexts

Explain the importance of game theoretic approaches in economic analysis


Prerequisites and

co-requisites

MATH 1101

Recommended

optional program

components

MS

Recommended or

required readings

Required readings:

1. Pindyck,Microeconomics ,8th edition, 2017

2. William Spaniel , Game Theory 101,2011

Planned learning


methods


Language of

instruction

English


Course contents

1 Introduction to Market Structures

Competitive Markets

Monopoly

Oligopoly

Ch. 10-

12, [1]

2 Bertrand, Cournot and Stackelberg Models

Cournout Duopoly Model

Bertrand Price Competition

First mover advantage

Ch. 12,

[1]

3 Game Types and Prisoners’ Dilemma

Introduction to Strategic Games

Dominated Strategies

Game: Prisoners' Dilemma

Iterated Elimination of Dominated Strategies

Ch. 1-2,

[2]

4 Application of Prisoners’ Dilemma in Oligopolistic Markets

Use best response method

Optimal solution vs Surplus maximization

Cartels and Cooperation

In-class

EXCEL

exercise

Ch. 3-4, [2]

5 Best Responses and Nash Equilibrium

Best Responses

Nash Equilibrium in Pure strategies

Nash bargaining solution

Auctions

Ch. 3-4,

[2]

6 Mixed Strategies

Probability distributions

Rules of probabilities

MSNE

Ch. 4-6,

[2]

7 Mixed Strategies cont.

3x3, 4x4… matrices

Elimination in MS

Dominant strategy in MS

Ch. 4-7,

[2]

8 Midterm exam

9 Backward Induction

Stackelberg competition

Pirates game

Voter’s game

Ch. 9-10,

[2]

10 Backward induction application in Investment Decisions (Real Options)

Subgame Perfect Nash Equilibrium

Game: Strategic Investment

Forward Induction

Ch. 9-10,

[2]

11 Static Games of Incomplete Information

Static Bayesian Games

Bayesian Nash Equilibrium

Game: Cournot competition with cost uncertainty

Ch. 11-14,

[2]

12 Applications of Bayesian Games

Harsanyi’s Purification Theorem

Second-Price Auction with incomplete information

First-Price Auction with incomplete information

Ch. 15-17,

[2]

13 Dynamic Games of Incomplete Information

Perfect Bayesian Equilibrium

Information Unravelling and Signaling

Game: Job Market signaling

Ch. 15-19,

[2]

14 Dynamic Games of Incomplete Information

Game: Job Market signaling

Ch. 15-19,

[2]

15 Final Review Sessions

Final exam


GAME THEORETICAL APPROACHES TO MICROECONOMICS

ECTS allocated based on Student Workload





Home works 14 4 56

Midterm Exam 1 3 3

Lab sessions 5 7 35


26 26

Final Exam 1 3 3

Total Workload 178




BA PROGRAMS

SYLLABUS

Course unit title Health Economics




Year of study 3-4


unit is delivered

5-8


allocated

6

Name of lecturers Rovshan Guliev

Class information

Location: Room:

Time:




course unit

Course Description

The purpose of a course is obtaining by students of a complex of practical

knowledge and practical skills in the field of health care economy, which will

allow them to develop and competently realize the actions promoting

improvement of quality of medical care and effective use of resources of

health care. Students will achieve knowledge by economic assessment of

activity of medical institutions; will be formed skills for developing the

evidence-based plan of a research of vocational training of experts and

improvement of knowledge in the field of health care economy.



Apply the tools of microeconomics in health care management.

Identify and manipulate the determinants of demand and supply in health

care services market.

Identify health care labor markets.

Understand the mechanisms of health Insurance markets.

Manage the economic processes in pharmaceutical industry.

Understand the mechanisms and economy of Social Insurance and

government health care activity.



requisites

MATH 1101

ECON 2103




reading

1. Sherman Folland, Allen C. Goodman, Miron Stano. The Economics of

Health and Health Care, 1993

2. Lanis Hicks, Economics of Health and Medical Care, 2012

https://www.amazon.com/s/ref=dp_byline_sr_book_1?ie=UTF8&text=Lanis+Hicks&search-alias=books&field-author=Lanis+Hicks&sort=relevancerank

3. Luke Slawomirski, Ane Auraaen, Niek Klazinga, The Economics Of

Patient Safety Strengthening a value-based approach to reducing patient harm

at national level, 2017






Course contents:

1. Microeconomic Tools for Health Economics

Scarcity and the Production Possibilities Frontier

Practice with Supply and Demand

Consumer Theory: Ideas Behind the Demand Curve

Individual and Market Demands

Elasticity

Production and Market Supply

The Firm Supply Curve Under Perfect Competition

Monopoly and Other Market Structures

Chapter 2 [1]

2. Statistical Tools for Health Economics

An Evolutionary Biological Approach to Development,

Hypothesis Testing

Difference of Means

Regression Analysis

Multiple Regression Analysis

Statistical Inference in the Sciences and Social Sciences

Chapter 3 [1]

3. Economic Efficiency and Cost-Benefit Analysis

Varying Income Inequality

Economic Efficiency

Cost-Benefit Analysis: Background

Cost-Benefit Analysis: Basic Principles

Valuing Human Life

Cost-Effectiveness Analysis

Cost-Utility Analysis, QALYs, and DALYs

QALYs Revisited: Praise and Criticism

Chapter 4 [1]

4. Production of Health

Scope of the Chapter

The Production Function of Health

The Historical Role of Medicine and Health Care

The Production of Health in the Modern Day

How Does Health Care Affect Other Measures of Health?

The Role of Schooling

Chapter 5 [1]

5. The Production, Cost, and Technology of Health Care

Production and the Possibilities for Substitution

Costs in Theory and Practice

Technical and Allocative Inefficiency

Technological Changes and Costs

Diffusion of New Health Care Technologies

Chapter 6 [1]

6. Demand for Health Capital

The Demand for Health

Labor–Leisure Trade-Offs

The Investment/Consumption Aspects of Health

Investment over Time

Chapter 7 [1]

The Demand for Health Capital

Changes in Equilibrium: Age, Wage, and Education

Empirical Analyses Using Grossman’s Model

Obesity—The Deterioration of Health Capital

7. The Organization of Health Insurance Markets

What Is Insurance?

Risk and Insurance

The Demand for Insurance

The Supply of Insurance

The Case of Moral Hazard

Health Insurance and the Efficient Allocation of Resources

The Income Transfer Effects of Insurance

Chapter 11 [1]

8. Midterm Exam

9. The Physician’s Practice

Investment in Human Capital

A Benchmark Model of the Physician’s Practice

Physician Agency and Supplier-Induced Demand

Modeling Supplier-Induced Demand

Diffusion of Information and Small Area Variations

Other Physician Issues and Policy Puzzles

Chapter 15 [1]

10. Health Care Labor Markets and Professional Training

The Demand for and Supply of Health Care Labor

Factor Productivity and Substitution Among Factors

Health Manpower Availability and the Meaning of Shortages

Medical Education Issues and the Question of Control

Licensure and Monopoly Rents

Other Physician Labor Issues

Chapter 16 [1]

11. The Pharmaceutical Industry

Structure and Regulation

The Production of Health and Substitutability

Drug Pricing and Profits

Research and Development (R&D) and Innovation

Cost Containment

New Drugs and Health Care Spending

Chapter 17 [2]

12. Government Intervention in Health Care Markets

Economic Rationale for Government Intervention

Forms of Government Intervention

Government Involvement in Health Care Markets

Government Failure

Chapter 19 [1]

13. Government Regulation: Principal Regulatory Mechanisms

Objectives of Regulation

Regulation of the Hospital Sector

Prospective Payment

The Theory of Yardstick Competition and DRGs

Regulation of Physician Payment

Antitrust

Chapter 20 [1]

14. Social Insurance

Social Insurance Policies and Social Programs

Historical Roots of Social Insurance

Chapter 21 [1]

The Patient Protection and Affordable Care Act (PPACA) of 2010

Medicare and Medicaid in the United States

Public Insurance and Health

The Effects of Medicare and Medicaid

Criticisms of the U.S. Health Care System

15. Health System Reform

Goals of Reform

Ensuring Access to Care

Competitive Strategies

Health System Reform and International Competitiveness

Quality of Care

The Patient Protection and Affordable Care Act (PPACA) of 2010

Chapter 23 [1]

FINAL EXAM


Activities Number Duration (hour) Total Workload (hour)




Midterm Exam 1 2 2

Paper/Project (including preparation and presentation) 2 8 16

Homework 3 5 15


Final Exam 1 3 3

Total Workload 179




BA PROGRAMS

SYLLABUS

Course unit title Law and Economics




Year of study 3-4


unit is delivered

5-8


allocated

6

Name of lecturer Matin Firuzi

Class information

Location: Room:

Time:




course unit

Course Description

In this course, you will get acquaintance with the economic analysis of the law

of property, torts, contracts, the legal process and crimes. The main aim of this

course is to give students an understanding of application of elements of Law

in Business and Economics, how business people should interact with each

other in accordance with the main principles of law of particular country or

accepted international law concepts. A course includes the explanation of the

analytical core, discussions of empirical legal studies and behavioral law and

economics. Furthermore some graph and tables are intended to provide a

visual representation. They are used to show patterns and relationships

between human behavior and future impact on any business case.


After completing ECON 5011, students should be able to answer to questions

and understand the following topics:

What is the economic analysis of law?

The primacy of efficiency over distribution in analyzing private law.

Why should lawyers study economics? Why should economists study

law?

Property law from standpoint of economics and standpoint of law

Economic approach to the tort law

An economic theory of contract law

A theory of legal processes

Basic understanding of crime and punishment and its economic side



requisites

ECON 2103



EXCEL


reading

1. Robert B. Cooter, Thomas Ulen, Law and Economics, 6th Edition, 2016


printed forms.

Planned learning activities Classroom lecturing, assignment, discussion sessions, presentation.




Course contents:

1. 1. An Introduction to Law and Economics

Economic Analysis of Law

General information

Some Examples

Chapter 1 [1]

2. A Brief Review of Microeconomic Theory

Overview: The Structure of Microeconomic Theory

Some Fundamental Concepts: Maximization, Equilibrium,

and Efficiency

Mathematical Tools

The Theory of Consumer Choice and Demand

The Theory of Supply

Market Equilibrium

Game Theory

The Theory of Asset Pricing

General Equilibrium and Welfare Economics

Decision Making Under Uncertainty: Risk and Insurance

Profits and Growth

Behavioral Economics


Chapter 2 [1]

3. A Brief Introduction to Law and Legal Institutions

The Civil Law and the Common Law Traditions

The Institutions of the Federal and the State Court Systems in the

United States

The Nature of a Legal Dispute

How Legal Rules Evolve

Chapter 3 [1]

4. An Economic Theory of Property

The Legal Concept of Property

Bargaining Theory

The Origins of the Institution of Property: A Thought

Experiment

An Economic Theory of Property

How are Property Rights Protected?

What Can be Privately Owned?—Public and Private Goods

What May Owners Do with Their Property and

On Distribution?

Chapter 4 [1]

5. Topics in the Economics of Property Law

What can be Privately Owned?

How are Property Rights Established and Verified?

What May Owners Do with Their Property?

What are the Remedies for the Violation of Property Rights?

Chapter 5 [1]

6. An Economic Theory of Tort Law

Defining Tort Law

An Economic Theory of Tort Liability

Chapter 6 [1]

7. Topics in the Economics of Tort Liability

Extending the Economic Model

Chapter 7[1]

Computing Damages

An Empirical Assessment of the U.S. Tort Liability System

Cases and solutions of problems (Software commands for MS

Excel.)

8. Midterm Exam

9. An Economic Theory of Contract Law

Bargain Theory: An Introduction to Contracts

An Economic Theory of Contract Enforcement

An Economic Theory of Contract Remedies

Economic Interpretation of Contracts

Relational Contracts: The Economics of the Long-Run

Cases and solutions of problems (Software commands for MS

Excel.)

Chapter 8 [1]

10. Topics in the Economics of Contract Law

Remedies as Incentives

Formation Defenses and Performance Excuses

Appendix: Mathematical Appendix

Chapter 9 [1]

11. An Economic Theory of the Legal Process

The Goal of the Legal Process: Minimizing Social Costs

Exchange of Information

Settlement Bargaining

Trial and appeals

Chapter 10 [1]

12. Topics in the Economics of the Legal Process

Complaints, Lawyers, Nuisances, and Other Issues in the Legal

Process

An Empirical Assessment of the Legal Process

Chapter 11 [1]

13. An Economic Theory of Crime and Punishment

The Traditional Theory of Criminal Law

An Economic Theory of Crime and Punishment

Chapter 12 [1]

14. Topics in the Economics of Crime and Punishment

Crime and Punishment in the United States

Does Punishment Deter Crime?

Efficient Punishment

The Death Penalty

Chapter 13 [1]

15. Topics in the Economics of Crime and Punishment

The Economics of Addictive Drugs and Crime

The Economics of Handgun Control

Explaining the Decline in Crime in the United States

Chapter 13 [1]

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 3 3



Homework 3 6 18


Final Exam 1 3 3

Total Workload 178




BA PROGRAMS

SYLLABUS

Course unit title Issues in Development Finance

Course unit code ECON5018



Year of study 3-4

Semester when the course unit

is delivered

5-8


allocated

6

Name of lecturers Anar Mammadov

Class information

Location: Room:

Time:




course unit

Course Description

In this course, you will learn the theoretical foundations to understand and

critically evaluate recent developments in the areas of microcredit, relationship of

finance and growth, overseas development assistance, foreign direct investment

and Islamic Finance. The module provides students with ample opportunities to

engage with the current empirical literature focused on these areas and seeks to

enable students to apply theoretical concepts to real problems in these areas.


Students should be able to:

understand the fundamental principles and concepts of finance and their

application and relevance in the context of development and development

finance

critically evaluate the impact of different sources of finance such as

foreign aid, FDI and microfinance

critically evaluate financial issues in a clear international context

develop a critical awareness of the ethical issues involved in financial

decisions and topics covered in the module


Prerequisites and co-requisites ECON1101; ECON1201



EXCEL


reading

1. P.K. Rao, Development Finance,Springer, 2003

2. Miles, Haney and Berens , The Architecture of Financial Markets, “Real

Estate and the Financial Markets” from Miles, Mike E., Haney, Richard L.,

and Gayle Berens, Real Estate Development: Principles and Practice.

Washington, DC: Urban Land Institute, 1995

3. Moorad Choudhry, The Bond and Money Markets: Strategy, Trading,

Analysis, Butterworth- Heinemann, 2003

4. Krugman, Paul and Obstfeld, Maurice, International Economics: Theory and

Policy, Sixth edition, Addison-Wesley, 2002



printed forms

Planned learning activities and

teaching methods



Work placement(s) N/A

Course contents:

1. Markets, Institutions and Transaction Costs:

Contracts, Agency and Transaction Costs

Asymmetric Information (AI)

Credit Rationing

Risk Management

Value-at-Risk (VAR)

Capital Assets Pricing Model (CAPM)


Ch. 1 [1]

2. Finance, Economic Growth and Development:

Capital Growth and Economic Growth

Financial Institutions and Economic Growth

Ch. 2 [1]

3. Global Financial Architecture. The Architecture of Financial Markets:

Capital Adequacy and Financial Soundness

Credit Ratings and Financial Management

Definition of Credit Ratings

Capital Adequacy Guidelines

Ch. 4 [1]

4. Global Capital Market, Growth, Debt Issues, and Financial Crises:

Definition of Capital Market

Debit Issues

Financial Crises: Causes, Nature, Solution Methods


Ch. 1 [1]

5. International Bond Markets

Overview of government bond markets

Bond Markets in Different Countries

Ch. 13 [3]

6. Structured Finance:

Structured Finance: Definition, Peculiarities

Instruments of Structured Finance

Ch. 8 [1]

7. Microfinance: Microcredit and Inverted Banking:

Social Collateral and Inverted Banking

Rural Credit Markets

The Design of Rural Credit Institutions

Ch.3 [1]

8. Midterm Exam

9. Sovereign Debt Management:

External Debt and Economic Growth

Debt Relief Policies

Sovereign Debt Restructuring


Ch. 7 [1]

10. Finance and Sustainable Development:

International Financial Institutions

The IMF

Ch.7[4]

11. Islamic Finance

Essence of IB

Peculiarities of IB

Ch. 20-21[4]

12. Development Finance Practices by Bilateral and Multilateral Development

Institutions. Overseas Development Assistance:

Official Development Assistance

External Aid and Economic Growth

Ch. 2 [1]

13. Foreign Direct Investment:

FDIs

Developing Countries and Capital Markets

Observations

Ch. 1 [1]

14. Various Issues of Finance and Economic Development:

Several Issues of Finance and Economic Development

Group Discussions

Ch.12 [4]

15. Financial Crises, Poverty Alleviation and Other Related Topics

Financial Crises: Causes, Nature, Ways of Mitigation

The World Bank and IMF Role

Ch. 3 [2]

FINAL EXAM







Midterm Exam 1 3 3



Homework 7 6 42


Final Exam 1 3 3

Total Workload 178




BA PROGRAMS

SYLLABUS

Course unit title Introduction to Finance

Course unit code FIN 2101


Level of course unit 1st cycle Bachelor


Semester/trimester


delivered

3rd semester

Number of ECTS

credits allocated

6

Name of lecturer Anar Mammadov


Time:



Learning outcomes

of the course unit

Course description:

The path-breaking advances in finance theory and practice over the past decades have

profoundly changed the financial world. These changes are further accelerated by the

extensive globalization of financial markets and the rapid development in financial

technologies in recent years. This course provides a rigorous introduction to the

fundamentals of modern financial analysis and their applications to business challenges in

basic security analysis, asset allocation and investment management.

Students taking this module should expect to learn the nature and workings of financial

markets and their use by corporations, investors and others. They will acquire skills in

modern valuation techniques, including the pricing of fixed-income securities, equities,

foreign exchange and derivatives. They will learn about the principles of finance,

including arbitrage, market efficiency, asset pricing models including CAPM, and

portfolio theory. From the point of view of investors, individual as well as institutional, we

will consider the principles of security valuation, portfolio selection and management, and

risk control. By the end of the module, students should be acquainted with the key ideas

of modern finance.


After completing students should be able to:

understand the meaning of time value money and how to evaluate the trade-

off between dollars today and dollars in the future

apply basic time value methodology to general valuation and integrated cash

flow applications;

apply the conceptual relationship between the expected return and the relevant

risk of individual assets and portfolios of assets;

apply the traditional evaluation techniques of capital budgeting analysis in

business and personal capital investments;

understand the concept of cost of capital and financial leverage and apply

those concepts in the determination of the optimal capital structure;

understanding weighted cost of capital (WACC)

understand the dynamics of behavioral finance and its influence on individual

and corporate financial decision-making

understand the current financial environment in which business decisions are

made


Prerequisites and

co-requisites

• ACC 1201

Recommended

optional programme

components

Recommended or

required readings

Required readings:

1. Ross, Westerfield, and Jordan, Fundamentals of Corporate Finance, 10th

(Standard) ed., McGraw-Hill/Irwin series, 2013

2. Brealey, Richard Arthur; Myers, Stewart Clay; Marcus, Alan J., Principles of

Corporate Finance, 10th ed., 2012

Recommended (additional reading):

3. J. Berk and P. DeMarzo, Corporate Finance, Pearson, 3rd Global Ed., 2013

4. Glen Arnold,Corporate Financial Management, Pearson, 5th ed., 2012

5. Ross Fundamentals of Corporate Finance McGraw-Hill/Irwin, 6th ed., 2002

6. E.Brigham, J.Houston, Fundamentals of Financial Management, 11th ed., Thomson

South-Western, 2006

Planned learning


methods


Language of

instruction

English


Course contents

1 Introduction

What is Finance?

Corporate Finance and the Financial Manager

Financial Management Decisions

[1], Ch. 1, p.

2-4

2 Goals and Governance of the Firm / Financial Markets and Institutions

Corporate Investment and Financing Decisions

Goals of the Corporation

Shareholders vs. Managers: Views on Maximization of Market Value

Agency Problems and Corporate Governance

[1], Ch. 1, p.

4-12

3 Financial Statements and Ratios

Standardized Financial Statements

Balance Sheet, P&L Report (Income Statement), Operating Cash Flow

Change in Net Working Capital, Sources and Uses of Cash

Ratio Analysis. Profitability, Liquidity, Activity and Solvency Ratios


[1], Ch. 2, p.

21-39, Ch.

3, p. 48-66

4 Time Value of Money

Future Values vs. Present Values

Future Value and Compounding

Present Value and Discounting

[1], Ch. 5, p.

123-138

Determining the Discount Rate

The Opportunity Cost of Capital


5 Net Present Value and other Investment Criteria

IRR vs. NPV

NPV Profile

Mutually Exclusive Projects

Non-Conventional Cash Flows

Acceptance and Rejection Rules for each Capital Budgeting Criteria

[1], Ch. 9, p.

267-290

6 Bond Valuation

Fixed-Income Securities: Bonds and Bond Valuation; Bond Features, Interest Rate

Risk, Default and Credit Risk, Debt or Equity? Long-Term Debt, Government,

Corporate and Mortgage Bonds, Floating and Zero Coupon Bonds

[1], Ch. 7,

p.123-223

7 Equity Markets and Stock Valuation

Shareholder Rights; Stock Valuation, Common Stock vs. Preferred Stock, Cumulative

versus Non-cumulative, Preferred Stock and Bonds similarities

[1], Ch. 8, p.

234-250

8 Midterm examination

9 Introduction to Risk, Return and the Opportunity Cost of Capital

The Relationship between Risk and Return

Capital Asset Pricing Model (CAPM)

Measuring and Calculating Portfolio Risk


[2], Ch. 7, p.

156-170

10 Risk, Return and Capital Budgeting

Portfolio Management

Company and Project Costs of Capital

Project Authorizations and the Problems of Biased Forecasts/Postaudits

Analyzing Project Risks: Systematic and Unsystematic Risk

The Capital Investment Process

[1], Ch. 13,

p. 416-426

11 Cost of capital

Company and Project Cost of Capital

Weighted Average Cost of Capital (WACC)

WACC Assumptions

[1], Ch. 9,

p. 214; [2],

Ch. 13, p.

438

12 Derivatives markets and instruments

Distinguishing between Exchange-Traded and Over-the-Counter Derivatives

Forwards and Futures

Basics of Derivative Pricing and Valuation

[2], Ch. 26,

p. 652-660

13 Options

Understanding options

Calls, Puts, and Shares

Options Value at a Glance

[2], Ch. 6,

p. 651

14 Financial Leverage and Capital Structure

Capital Structure Question – Debt or Equity financing?

Effect of Financial Leverage

Bankruptcy liquidation vs. Reorganization

[1], Ch. 14,

p. 450-454

15 Financial Leverage and Capital Structure

Cost of Equity or Debt?

Bankruptcy Costs

Optimal Capital Structure

[1], Ch. 14, p.

450-454

Final Exam







Midterm Exam 1 2 2



Homework 7 6 42


Final Exam 1 3 3

Total Workload 179




BA PROGRAMS

SYLLABUS

Course unit title INTRODUCTION TO NATURAL LANGUAGE PROCESSING

Course unit code MATH 5002



Year of study 3-4

Semester when the course unit is

delivered

5-8


Name of lecturer Rafig Aliyev

Class information

Location:

Time:


Office hours: upon appointment

Learning outcomes of the course unit

Natural Language Processing (NLP) is the engineering art and science

of how to teach computers to understand human language. NLP is a type

of artificial intelligence technology, and it's now ubiquitous -- NLP lets

us talk to our phones, use the web to answer questions, map out

discussions in books and social media, and even translate between human

languages. Since language is rich, ambiguous, and very difficult for

computers to understand, these systems can sometimes seem like magic -

but these are engineering problems we can tackle with data, math, and

insights from linguistics.

This course will introduce NLP methods and applications including

probabilistic language models, machine translation, and parsing

algorithms for syntax and the deeper meaning of text. During the course,

students will:

(1) learn and derive mathematical models and algorithms for NLP;

(2) become familiar with key facts about human language that motivate

them, and help practitioners know what problems are possible to solve;

and

(3) complete a series of hands-on projects to implement, experiment with,

and improve NLP models, gaining practical skills for natural language

systems engineering.


Prerequisites and co-requisites Statistics

Programming

Recommended optional programme

components

Recommended or required reading

Textbooks:

1. Jurafsky and Martin (JM), Speech and Language Processing, 2nd

edition, Kindle Edition (2014).

2. Manning and Schütze (MS), Foundations of Stat NLP. The MIT Press,

England (2001 )

Recommended additional reading:


3. Jacob Eisenstein. Introduction to Natural Language Processing

(Adaptive Computation and Machine Learning series) The MIT Press

(2019)

4. Noah A. Smith. Linguistic Structure Prediction (Synthesis Lectures on

Human Language Technologies), Morgan & Claypool Publishers; 1st

edition (2011)

5. Kevin P. Murphy. Machine Learning: A Probabilistic Perspective

(Adaptive Computation and Machine Learning series). The MIT Press 1st

Edition; (2012)

6. Emily M. Bender Linguistic Fundamentals for Natural Language

Processing: 100 Essentials from Semantics and Pragmatics (Synthesis

Lectures on Human Language Technologies) ; Morgan & Claypool

(2019)


teaching methods

Classroom lecturing, case study discussions and brainstorming, feedback

and presentation sessions, discussion sessions, Software commands for

Excel


Course contents:

1. Introduction and Overview

Welcome, motivations, what is Natural Language Processing, hands-on

demonstrations. Ambiguity and uncertainty in language. The Turing test.

Course outline and logistics. Questionnaire.

[1,2] Ch 1

2. Regular Expressions

Chomsky hierarchy, regular languages, and their limitations. Finite-state

automata. Practical regular expressions for finding and counting language

phenomena. A little morphology. In class demonstrations of exploring a

large corpus with regex tools.

Assignment: Install Python. HW#1

[1] Ch 2

3. Programming in Python

An introduction to programming in Python. Why Python? Variables,

numbers, strings, arrays, dictionaries, conditionals, iteration. The NLTK

(Natural Language Toolkit), with demonstrations.

Refer to online

programming

resources, and

Learning

Python

4. String Edit Distance and Alignment

Key algorithmic tool: dynamic programming, first a simple example, then its

use in optimal alignment of sequences. String edit operations, edit distance,

and examples of use in spelling correction, and machine translation.

Assignment: HW#1; HW#2

[1] Ch 3.11

5. Information Theory

What is information? Measuring it in bits. The "noisy channel model." The

"Shannon game"--motivated by language! Entropy, cross-entropy,

information gain. Its application to some language phenomena.

Assignment: HW#3

[1] Ch 4.10-

4.11

.

6. Language modeling and Naive Bayes

Probabilistic language modeling and its applications. Markov models. N-

grams. Estimating the probability of a word, and smoothing. Generative

models of language. Their application to building an automatically-trained

email spam filter, and automatically determining the language (English,

French, German, Dutch, Finnish, Klingon?).

Assignment: HW#4 Choice: Building a spam filter, or language id

[1] Ch 4.1-4.9

7. Probabilistic Context Free Grammars

Weighted context free grammars. Weighted CYK. Pruning and beam search

[1] Ch 12

8. MIDTERM EXAM

9. Maximum Entropy Classifiers

The maximum entropy principle, and its relation to maximum likelihood.

The need in NLP to integrate many pieces of weak evidence. Maximum

entropy classifiers and their application to document classification, sentence

segmentation, and other language tasks.

[1] Ch 6.6-6.7

10. Machine Translation

Probabilistic models for translating French into English. Alignment,

translation, language generation. IBM Model #1.

IBM Model #2, and Expectation Maximization. MT evaluation.

[1] Ch 24

11. Lexical Semantics [1] Ch 24,

Section 1

12. Unsupervised Language Discovery

Automatically discovering verb sub-categorization.

13. Topic Models and Language in Social Networks

Topic models. Language modeling integrated into social network analysis.

14. Pragmatics [1] Ch 21.3

15. Information Extraction & Reference Resolution

Building a database of person & company relations from 10 years of New

York Times. Building a database of job openings from 70k company Web

pages. Various methods, including HMMs. Models of anaphora resolution.

Machine learning methods for co-reference.

[1] Ch 22

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 3 3



13

Homework 3 4 12


Final Exam 1 3 3

Total Workload 181




BA PROGRAMS

SYLLABUS

Course unit title FUZZY LOGIC AND CONTROL SYSTEMS




Year of study 3-4


unit is delivered

5-8


allocated

6

Name of lecturer Rafig Aliyev

Class information

Location:

Time:




course unit

Course Description

This course presents some fundamental knowledge of fuzzy sets, fuzzy logic, fuzzy

decision making and fuzzy control systems. The aim is to equip graduate students

with some state-of-the-art fuzzy-logic technology and fuzzy system design

methodologies, thereby better preparing them for the rapidly evolving high-tech

information-based financial market and modern industry.

Learning Outcomes

On successful completion of this course, students will b able to :

understand basic knowledge of fuzzy sets and fuzzy logic;

apply basic knowledge of fuzzy information representation and processing;

apply basic fuzzy inference and approximate reasoning;

understand the basic notion of fuzzy rule base;

apply basic fuzzy system modeling methods;

apply basic fuzzy PID control systems;

understand the basic notion of computational verb controllers.



requisites

None




reading

Textbooks:

1.Lotfi Zadeh and Rafik A.Aliev. Fuzzy Logic Theory and Applications, World

Scientific Press , 2019.

2.Negnevitsky, Michael Artificial Intelligence: A Guide to Intelligent Systems (1st

Edition). Harlow: Pearson Education Ltd., 2002.

3.Kruse, Rudolf., Gebhardt, J., and Klawonn, F. Foundations of Fuzzy Systems.

New York: John Wiley and Sons.,1994.

Planned learning activities Classroom lecturing, case study discussions and brainstorming, feedback and


and teaching methods presentation sessions, discussion sessions, Software commands for Excel


Course contents:

1 Introduction to fuzzy sets

The uncertain and inexact nature of the real world: ideas and examples;

fuzzy membership functions; fuzzy numbers and fuzzy arithmetic

Operations on Fuzzy sets and fuzzy numbers

[1] Ch 1

[3] Ch 2

2 Introduction to fuzzy logic

Basic concept and properties of fuzzy logic versus classical two-valued logic

Logic operations

[1] Ch 2

3 Fuzzy inference

Fuzzy inference principles; fuzzy decision making; approximate reasoning

Fuzzy TOPSIS +AHP

[1] Ch 2

4 Fuzzy rule base

If-Then rules; general format of fuzzy rule base; establishment of fuzzy rule base

Mamdani inference

[2] Ch 4

5 Fuzzy decision-making Multi-objective optimization, performance evaluation, decision-making

Fuzzy Investment problem

[1] Ch 13

6 Fuzzy modeling Static fuzzy modeling; dynamic fuzzy modeling

Zadeh’s “fast way” problem

7 Extensions of Fuzzy sets

Geometrical reasoning

[1] Ch 1

8 MIDTERM EXAM

9 Extensions of Fuzzy sets

Operations on intuitionistic fuzzy numbers

[1] Ch 1

10 Fuzzy Expert Systems

ESPLAN

[1] Ch 17

[2] Ch 4

11 Fuzzy Clustering

FCM

12 Control Systems

Temperature control system

[3] Ch 4

13 Basic Fuzzy Control Principle

Motor central in Matlab

[3] Ch 4

14 Fuzzy PID Controllers Design Methods and Applications

Fuzzy control of pH reactor

[3] Ch 4

15 Computational Verb Controllers

Online turning of a PID controller

[3] Ch 4

FINAL EXAM

Worload calculation


(hour)

Total Workload

(hour)




Midterm Exam 1 3 3



13

Homework 3 4 12


Final Exam 1 3 3

Total Workload 181




BA PROGRAMS

SYLLABUS

Course unit title Financial Management






is delivered

4th Semester


allocated

6

Name of lecturers Ibrahimov Elnur

Class information

Location: Room:

Time:




course unit

Course Description

The module aims to introduce students to the modern theory of finance and

financial management. Theoretical concepts like the net present value,

decision making under uncertainty, portfolio selection and the capital asset

pricing model are introduced. These concepts serve as prerequisites for

investment and financing decisions which are exemplified by an analysis of

valuation of firms, capital structure decisions and dividend policy. More

specifically, the topics covered are the value and capital budgeting, portfolio

theory, models of security valuation, efficient markets, long-term financing,

company dividend decisions, capital structure, and interactions of investment

and financing decisions. In all cases contemporary examples will be used to

make theory come to life.


After completing FIN 2201, the students should be able to:

Facilitate understanding of the main themes of modern financial

management

Equip students with the tools and techniques of financial management

Enable students to interpret and critically examine financial

management issues and controversies

Provide the necessary knowledge to allow students to progress to

studying in the subsequent years in the field of advanced business


Prerequisites and co-requisites MATH 1101, ACC 1201, FIN 2101



EXCEL


reading

1. James C. Van Horne, John M. Wachowicz, Jr., Fundamentals of Financial

Management, thirteenth edition, Prentice Hall, 2008

2. Glen Arnold, Corporate Finance Management , Harlow: Pearson,2012


printed forms.


teaching methods




Course contents:

1. The Role of Financial Management

Explain why the role of the financial manager today is so important.

Identify the goal of the firm and understand why shareholders’ wealth

maximization is preferred over other goals.

Demonstrate an understanding of corporate governance.

Understand the basic responsibilities of financial managers and the

differences between a “treasurer” and a “controller.”

Ch 1 [1]

2. An introduction to equity markets

Describe the scale of stock market activity around the world and explain

the reasons for the widespread adoption of stock exchanges as one of the

foci for a market-based economy;

Explain the functions of stock exchanges and the importance of an

efficiently operated stock exchange;

Demonstrate a grasp of the regulatory framework for the UK financial

system;

Give an account of the stock markets available to UK firms and describe

alternative share trading systems;

Ch 9 [2]

3. The time value of money, dividend discount model and the market and

valuation of bonds

Describe how the interest rate can be used to adjust the value of cash flows

– both forward and backward – to a single point in time.

Calculate both the future and present value of:(a) an amount invested

today; (b) a stream of

equal cash flows (an annuity); and (c) a stream of mixed cash flows.

Use interest factor tables and understand how they provide a shortcut to

calculating present

and future values.

Value bonds, preferred stocks, and common stocks.


Ch 2 [1,2]

4. Valuation and Investment Decision Rules

Describe and explain at least three potential problems that can arise with

internal rate of return in specific circumstances;

Calculate net present value and internal rate of return;

Show an appreciation of the relationship between net present value and

internal rate of return;


Ch 2,[2]

5. Tools of Financial Analysis and Planning

Explain why financial statement analysis is important to the firm and to

outside suppliers of capital;

Ch 6,[2]

Define, calculate, and categorize (according to liquidity, financial

leverage, coverage, activity, and profitability) the major financial ratios

and understand what they can tell us about the firm;

Use ratios to analyze a firm’s health and then recommend reasonable

alternative courses of action to improve the health of the firm;


6. Risk versus Return

Present a sensitivity graph and discuss break-even NPV;

Adjust for risk by varying the discount rate;

Discuss the limitations, explain the appropriate use and make an accurate

interpretation of the results of the four risk techniques described in this

chapter.


Ch 7,[2]

7. The Capital Asset Pricing Model and Factor Models

Describe the fundamental features of the Capital Asset Pricing Model

(CAPM);

Show an awareness of the empirical evidence relating to the CAPM and

the reasons why the academic community and practitioners are turning

away from using the CAPM;

Explain the key characteristics of multi-factor models, including the

arbitrage pricing theory (APT) and the three-factor model;

Ch 8,[2]

8. Midterm

9. Capital Budgeting and Estimating Cash Flows

Justify why cash, not income, flows are the most relevant to capital

budgeting decisions.

Explain how tax considerations, as well as depreciation for tax purposes,

affect capital budgeting cash flows.

Summarize in a “checklist” the major concerns to keep in mind as one

prepares to determine relevant capital budgeting cash flows.

Ch 12, [1].

10. Funds Analysis, Cash-Flow Analysis, and Financial Planning

Understand the importance of using probabilistic information in

forecasting financial statements and evaluating a firm’s condition.

Explain the difference between the flow of funds (sources and uses of

funds) statement and the statement of cash flows – and understand the

benefits of using each.

Develop forecasted balance sheets and income statements.

Ch 7, [1].

11. Capital Structure and the weighted average cost of capital

Explain how a firm creates value, and identify the key sources of value

creation.

Calculate the costs of the individual components of a firm’s overall cost of

capital: cost of debt, cost of preferred stock, and cost of equity.

Calculate the firm’s weighted average cost of capital (WACC) and

understand its rationale, use, and limitations.\


Ch 10, [2].

12. Intermediate and Long-Term Financing

Understand the characteristics of the capital market and the difference

between a primary and a secondary market.

Describe the three primary methods used by companies to raise external

long-term funds –public issue, privileged subscription, and private

Ch 19, [1].

placement.

Explain the role of investment bankers in the process of issuing new

securities, including traditional underwriting, best efforts offering, shelf

registration, and standby arrangements.

13. Market Efficiency

Discuss the meaning of the random walk hypothesis and provide a

balanced judgement of the usefulness of past price movements to predict

future share prices (weak-form efficiency);

Provide an overview of the evidence for the stock market’s ability to take

account of all publicly available information including past price

movements (semi-strong efficiency);

State whether stock markets appear to absorb all relevant (public or

private) information (strong-form efficiency);

Ch 13, [2].

14. Dividend Policy

Explain the rationale and conclusion of the ideas of Miller and

Modigliani’s dividend irrelevancy hypothesis, as well as the concept of

dividends as a residual;

Describe the influence of particular dividend policies attracting different

‘clients’ as shareholders, the effect of taxation and the importance of

dividends as a signaling device;

Outline the hypothesis that dividends received now, or in the near future,

have much more value than those in the far future because of the

resolution of uncertainty and the exceptionally high discount rate applied

to more distant dividends;

Ch 19, [2].

15. An introduction to FX markets, risk, hedging using forward, futures, trading

and hedging using futures

Explain the nature of options and the distinction between different kinds

of options, and demonstrate their application in a wide variety of areas;

Show the value of forwards, futures, FRAs, swaps, caps and floors

markets by demonstrating transactions which manage and transfer risk.

Consider methods of dealing with the risk that assets, income and

liabilities denominated in another currency, when translated into home-

currency terms, are distorted;

Describe techniques for reducing the impact of foreign exchange changes

on the competitive position of the firm.

Ch 21, [2].

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 3 3



Homework 3 6 18


Final Exam 1 3 3

Total Workload 178




BA PROGRAMS

SYLLABUS

Course unit title BUSINESS FINANCE



Level of course unit 1st cycle Bachelor



delivered

Fifth semester


allocated

6

Name of lecturer Elmır Safarli

Class information

Location: Room:

Time:



Learning outcomes of the course

unit

Course Description

The objective of the course is to teach Business Finance by introducing the

fundamental and advanced concepts of modern theory and application of principles of

business finance. Furthermore the course aims to equip the students in applying the

theory of corporate finance in corporate financial decision-makings.

Learning Outcomes of the Course


Understand principles of business finance,

Analyze and evaluate appropriate business strategies, practices, and theories

that inform and guide organizations to ensure sustainability.

Develop a marketing plan for a new or existing product or service by

integrating marketing concepts, strategies, research, and distribution principles.

Demonstrate an understanding of the principles of accounting in order to ensure

alignment with organizational goals and strategies.

Devise a capital budgeting strategy based on the principles of capital budgeting,

capital structure, cost of capital, corporate financing, and asset valuation.

Apply the theory of corporate finance in business financial decision-makings


Prerequisites and co-requisites FIN 2201



NA


reading

1. F. Brigham, Michael C. Ehrhardt, Financial Management: Theory & Practice

Eugene, Cengage Learning, 2016

2. Ross,Westerfield and Jaffe, Corporate Finance: Core Principles and Applications,

McGraw-Hill Education, 2013

3. Richard A. Brealey, Stewart C. Myers, Franklin Allen, Principles of Corporate

Finance, McGraw Hill, 2010


teaching methods



Work placement NA

Course contents:

1 Introduction to business finance,

The Role of Managerial Finance , The Financial Market Environment , Financial

statements

Chapter 1,2 [1]

2

Ratio analysis: Du Pont analysis systems

Ratio analysis ın balance sheet and income statements, calculatıon of profıtabılıty

ratıos,current ratıos, deb ratıos, lıquıdıty ratıos

Chapter 3 [1]

3 Time value of money, Decision making for future investments

Theories of Future value, Present value, net present value, Dıscountıng, Perpetuıty,

annuıty,

Chapter 3, 4 [1]

4

Investment rules, Investment evaluation methods

Payback method, Dıscounted Payback method, Valuatıon of Mutual exclusıve

projects,IRR, Profıtabılıty ındex

Chapter 10 [1]

Chapter 6 [2]

Chapter 5 [3]

5 Bonds and evaluations

Pure Dısount bonds, Level coupon bonds, Consols, Interest rates and Bond Prıces,

DıvıdendDıscount Model, Valuatıon of bonds

Chapter 5 [1]

6 Risk and uncertainty in business

Risks,calculation of betta,Types of risks

Chapter 10,11 [2]

Chapter 7 [3]

7 Stocks and Evaluations

Stocks, Dividends and evaluations Chapter 7 [1]

Chapter 5 [2]

Chapter 4 [3]

8 Midterm Exam

9 Capıtal Structure Policies

• Mıller and Modiglianı theorems, trade off and pecking orders theorıes, agency costs,

sıgnallıng theory, market tımımg,

Chapter 15 [1]

Chapter 16 [3]

10 CAPM Model Chapter 6 [1]

Chapter 10 [2]

11 Long Term Finacial decision making

Issuıng Securıtıes to the publıc, Long term debt,Leasıng, IPO, Bonds ratınngsi

Chapter 5 [2]

12 Short term financial decisin making Sources and uses of cahs, Calculatıon of cash cycle, Cash Management,Short term

bank borrowıngsi credıt management

Chapter 7 [2]

13 Foreign exchange markets, Exchange rates and ınterest rates,

Foreign exchange markets, Exchange rates and ınterest rates,

Chapter 32 [2]

14 Interest rate parity,Internatıonal Capıtal Budgetıng,Internatıonal Fınancıal Decısıons

Chapter 32 [2]

15 CASH MANAGEMENT

Chapter 28 [2]

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2

Homework 10 3 30


Final Exam 1 3 3

Total Workload 177




BA PROGRAMS

SYLLABUS

Course unit title

Financial risk management

Course unit code

FIN 3201




Semester when the

course unit is

delivered

6th semester

Number of ECTS

credits allocated

6

Name of lecturer

Leyla Hasanova

Class information

Location: Room:

Time:




the course unit Course Description:

This course will provide students with a comprehensive overview of the main types of risk

that have such a substantial impact on international firms and financial institutions.

Students will develop basic knowledge and understanding of the role of financial system in

the economy, financial markets, financial Institutions. The course will focus on three key

areas that pervade through all types of risk: risk identification, risk quantification and risk

management

Learning outcomes

Students will be able to:

Understand how risk management contributes to value creation

Understand how the global market for credit operates

Explain the causes of the recent global credit crisis

Forecast the financial risks that financial institutions and corporations could face in

the international market.

Analyse the effects of interest rate volatility on risk exposure

Measure the risks that arise from financial markets - such as credit risk, market risk,

liquidity risk etc. using different valuation techniques

Become familiar with the concept of capital adequacy and also with the Basel

Accords

Students will be able to examine several aspects of sovereign lending and the

underlying risks



requisites

FIN 3101


Recommended

optional programme

components

NA

Recommended or

required readings

Required readings:

1. A.Saunders, M.M.Financial Institutions Management: A Risk Management Approach,

2013

2. Frederic S. Mishkin “The Economics of Money, Banking and Financial Markets, 2015

Additional information will be distributed electronically

Optional readings:

Hull, John C., Risk Management and Financial Institution (4th edition) ,2015

Christoffersen, P.F. Elements of Financial Risk Management, Academic Press,

London, 2003

Planned learning


methods

Lectures, exercises, class discussions, case study discussions, assignments, passing quizzes

and exams

Language of

instruction

English


Course contents

Unit Topic Textbook and chapter

1

2

An overview of financial system:

The structure and functions of financial markets

A brief overview of financial instruments: Debt and Equity

securities. Derivatives.

The nature of financial intermediation

The financial services industry

Lab/Tutorial: Review selected end-of-chapter problems and discussion

of thinking questions.

Chapter 2; p.17 [2]

Part 3 [2]

3

Introduction to Risk Management: Why Manage Risk?

Understand the meaning of risk

What Is Financial Risk?

Risks of financial Intermediation.



Chapter 7 [1]

4

Measuring risk: Interest rate risk I

The level and movement of interest rates

The repricing model

Rate-sensitive assets

Rate-sensitive liabilities

Weaknesses of the Repricing model



Chapter 8 [1]

5

Measuring risk: Interest rate risk II

Duration

A general formula for Duration

Features of Duration

The economic meaning of duration

Chapter 9 [1]

Duration and Interest rate risk



Quiz

6

Measuring risk: Market risk I

The basics of market risk

Risk Metrics approach

DEAR (Daily earnings at risk)

Modified Duration


of thinking questions

Chapter 10 [1]

7

Measuring risk: Market risk II

Historic or back simulation

Foreign Exchange Risk

Chapter 10 [1]

8 Midterm Examination

9

Measuring risk: Market risk II

Equity Market Risk

Combined (Portfolio) Risk



Chapter 10 [1]

10

Measuring risk: Credit risk I

Individual loan risk

Types of loans

Calculating return on loan

Measurment of credit risk



Chapter 11 [1]

11

Measuring risk: Credit risk II

Simple models of loan concentration risk

Loan portfolio Diversification and modern portfolio theory



Chapter 12 [1]

12

Measuring risk: Liquidity risk

Causes of Liquidity risk

Liquidity risk and depository institutions

Liquidity risk and life insurance companies

Investment funds



Chapter 17 [1]

13

Measuring risk: Sovereign risk

Credit risk VS Sovereign risk

Country risk evaluation



Chapter 15 [1]

14 15

Capital Adequacy

Capital and insolvency risk

Capital adequacy in the commercial banking

Capital requirements for other FIs

Chapter 20 [1]

Final Examination



(hour)

Total Workload

(hour)




Midterm Exam 1 3 3


and presentation) - - -

Homework 6 6 36


Final Exam 1 3 3

Total Workload 180




BA PROGRAMS

SYLLABUS

Course unit title Business Essentials




Year of study 3-4


unit is delivered

5-8


allocated

6

Name of lecturers Gunel Aghajanova

Class information

Location:

Time:

Contact: mailto:[email protected]



course unit

Course description:

This course consists of four parts. In the first part we will deal with acknowledging

the Contemporary Business World and managing it. This involves Business

environment, the main Business ethics, entrepreneurship as well as ventures and

ownerships. The second part is devoted people in organisation. Main topics are

employee behaviour and motivation, Leadership and Human resource Management.

The third part deals with principles of marketing,developing,pricing and promoting

products. The fourth part includes Information Technology for Business and

financial system and issues.

Course Objectives:

1. To introduce students Business Environment and Global context of

Business

2. To study classical management theories and modern approaches

organisation and business

3. To study employee behaviour and Labor relations

4. To study the Marketing principles

5. To study the basics of Information technology and Accounting

6. To study Financial system and issues for Business

Learning Objectives:

1. Understand internal and external Business environment.

2. Learn various business ethics

3. Learn about people within organization

4. Learn how to distribute and promote the product

Understand money and role of finance in Business area

Learning Outcomes:

After successfully completing the course, students should be able to:

Learn about big and small businesses,established and new businesses,broad-

based, successful and unsuccessful businesses,global and domestic

businesses.

Identify key elements of enterpreneurship and new ventures.

Have leadership skills and employee behaviours wthin the company

Determine role of banking in business area


Discuss the basic elements financial management and investigating

Prepare business plan

Make a more choice while selecting their future educational path

Mode of delivery (face-to-

face, distance learning)

Face-to-face


requisites None



-


reading

Required textbooks:

1) Karen Collins "An Introduction to Business" Virginia College, 2008

Optional:

2) Stephen J. Skripak Fundamentals of Business Virginia Tech Blacksburg

Virginia, 2016

3) Dennis E. Schlais, Richard N.Davis, Kristi A.Schlais Introduction to Business,

Association Global Views, 2011

4) Ronald J. Ebert, Ricky W. Griffin Business Essentials , Prentice Hall, 2014

Course reading is mainly composed of book chapters and articles. Additional

information will be distributed either electronically or delivered in printed forms..





Work placement(s)

Course contents:

1. Foundation of Business

Introduction. Business Environment

[1] Chapter 1

p. 14-47

[2] Chapter 1-2

p.24-51

2. Business Ethics and Social Responsibility

[1]:Chapter2

p.56-101

[2] Chapter 3

p.57-79

3. The Challenges of Starting a Business

Enterpreneurship, New Ventures and Business Ownership

[1] Chapter 5

p.207-232

[2] Chapter 6

p.135-147

4. The Challenges of Starting a Business

Business Plan

[1] Chapter 5

p.241-249

5. Managing the Business

Management Process,types of managers

Strategic management:Setting goals and formulating strategy

[1] Chapter 6

p.264-297

[2] Chapter 7 p. 159-

181

6. Managing the Business

Operations Management and Quality

[2] Chapter 9

p.200-229

7. People in Organization

Employee behaviour and motivation

[1] Chapter 7

p.313-368

[2] Chapter 10

p.232-240

8. Midterm Exam

9. People in Organization

Leadership and Desicion making

Human Resources management and Labor relations

Teamwork and Communication

[1] Chapter 8

p.374-431

[2] Chapter 11 p.241-

263

10. Principles of Marketing

What is the marketing

Advertising

[1] Chapter 9

p.438-448

[2] Chapter 13 p.283-

290

11. Principles of Marketing

Identifying 4P's( Price, Product, Promotion, and Place)

[1] Chapter 9

p.448-486

[2] Chapter 13 p.290-

299

12. Career Development [1] Chapter 7 p.339-

360

[2] Chapter 11

p.254-269

13. Hosbitality and Tourism

[2] p.229-358

14. The Role of Accounting in Business

The Role of Accountants and Accounting Information

Fields of Accounting

[1] Chapter 12

p. 595-653

[2] Chapter 16

p.360-381

15. Financial system and Issues in Financial Management

Understanding Money

Role of Banking

Managing Business Finances

[1] Chapter 13 p.653-

702

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 3 3



Homework 3 5 15


Final Exam 1 3 3

Total Workload 180




BA PROGRAMS

SYLLABUS

Course unit title Behavioral finance




Year of study 3-4


unit is delivered

5-8


allocated

6

Name of lecturers Tahir Garayev

Class information

Location: Room:

Time:




course unit

Course Description

This module aims to:

Provide students with knowledge and understanding of theoretical and empirical

limitations of and challenges to the efficient markets hypothesis; Present the

psychological foundations of Behavioral Finance and how they impact upon

investors’ rationality and arbitrage; Provide the opportunity for students to

critically evaluate behaviorally induced market puzzles; Present key behavioral

trading patterns from a theoretical perspective and outline their empirical

design.


After completing FIN 5016, students should be able to:

Understand the key concepts and issues in behavioral finance

Possess a good command of the key theoretical and empirical literature

in behavioral finance

Have practiced skills of problem-solving and critical thinking

Be familiar with the main implications (theoretical and empirical) of

Behavioral Finance findings

Development of key skills in terms of written communication (eg by

completing formative class questions and assignment; through a

summative assignment and examination)

Development of key skills in terms of planning and time-management

(e.g. preparing for classes; observing assignment deadlines), problem-

solving, critical thinking and analysis, numeracy (e.g. by applying their

extant quantitative knowledge in understanding behavioral finance

issues) and initiative (e.g. searching relevant literature and information

in preparation of seminars and summative assignment)



requisites

None



EXCEL

Recommended or required 1. M.Pompian, Behavioral finance and Wealth management, Wiley, 2006


reading

2. R.Thaler, Advances in behavioral finance , Princeton University Press,

2005

3. A. Shleifer, Inefficient markets, Oxford University Press, 2000






Course contents:

1. Efficient Market Hypothesis and its limitations; ch.1,[1]

2. Limits to Rationality 1: biases and heuristics; ch.2,[1]

3. Limits to Rationality 1: biases and heuristics; ch.2,[1]

4. Limits to Rationality 2: behavioral decision making; ch.3, [1]

ch.1,[3]

5. Limits to Rationality 2: behavioral decision making; ch.3,[1], ch.1 [3]

6. Limits to Arbitrage and the noise trader hypothesis; ch.2,[3]

7. Limits to Arbitrage and the noise trader hypothesis; ch.2,[3]

8. Midterm

9. Behavioral Puzzles: Theory and Empirical Evidence; ch.3,[3]

10. Behavioral Puzzles: Theory and Empirical Evidence; ch.3,[3]

11. Overreaction, Underreaction and how to profit from them; ch.5,[3]

12. Feedback Trading: Theory and Empirical Identification; ch.5,[3]

13. Herd Behavior: Theory and Empirical Identification; ch.6,[3]

14. Speculative Bubbles and Financial Crises; ch.6,[3]

15. Behavioral Finance and Financial Regulation; ch.8,7,[1-3]

Final



(hour)

Total Workload

(hour)


42



Midterm Exam 1 2 2



Homework 3 4 12


Final Exam 1 3 3

Total Workload 176



AZERBAIJAN STATE OIL AND INDUSTRY

UNIVERSITY/ BA PROGRAMS

SYLLABUS

Course unit title Finance and markets




Year of study 3-4


delivered

5-8


allocated

6

Name of lecturer Elmır Safarli

Class information

Location: Room:

Time:




unit

Course Description

The module builds on the foundations of the existing finance modules and aims to give

students a solid grounding in terms of understanding the recent global financial crisis

and a wide range of risk management tools available to financial managers. Particular

emphasis is placed on the issue of risk measurement.

Learning Outcomes of the Course


• Understand how risk management contributes to value creation

• Understand how the global market for credit operates

• Explain the causes of the recent global credit crisis

• Overview the risks facing a modern corporation

• Analyze the effects of interest rate volatility on risk exposure

• Examine market risk, which results when companies actively trade bonds, equities and

other securities

• Examine how credit risk adversely impacts a financial institution’s profits


Prerequisites and co-requisites FIN 2201

FIN 3101



NA


reading

1. Anthony Saunders, Marcia Millon Cornett, Financial Institutions management:

A Risk Management Approach , McGraw-Hill Education, 9 edition, 2017

2. Frederic Mishkin ,Stanley Eakins, Financial Markets and Institutions, Pearson

Education, 2014


teaching methods



Work placement NA

Course contents:

1 Why Are Financial Intermediaries Special?

Introduction, Financial Intermediaries' Specialness, Specialness and Regulation

Chapter 1 [1]

2

Depository Institutions

Commercial Banks, Savings Institutions, Credit Unions, Global Issues: Europe, Japan, and

China

Chapter 2, [1]

3 Insurance Companies

Life Insurance Companies, Property–Casualty Insurance

Chapter 3, [1]

4

Interest Rate Risk

The Level and Movement of Interest Rates , The Repricing Model, Weaknesses of the

Repricing Model

Chapter 8, [1]

5 Interest Rate Risk II

Duration: A Simple Introduction, Features of Duration, The Economic Meaning of Duration,

Duration and Interest Rate Risk

Chapter 9, [1]

6 Market Risk

Calculating Market Risk Exposure, The Risk Metrics Model , Historic (Back Simulation)

Approach

Chapter 10,[1]

7 Credit Risk: Individual Loan Risk

Credit Quality Problem, Calculating the Return on a Loan, Measurement of Credit Risk, Chapter 11,[1]

8 Midterm Exam

9 Credit Risk: Loan Portfolio and Concentration Risk

• Simple Models of Loan Concentration Risk, Loan Portfolio Diversification and Modern

Portfolio Theory (MPT),

Chapter 12 , [1]

10 Foreign Exchange Risk

Foreign Exchange Rates and Transactions, Sources of Foreign Exchange Risk Exposure,

Foreign Currency Trading, Foreign Asset and Liability Positions

Chapter 14,[1]

11 Sovereign risk,

Credit risk versus sovereign risk, Country risk evaluation

Chapter 15,[1]

12 Liquidity risk Chapter 17,[1]

13 Liability and Liquidity Management

Liquidity asset management, Portfolio analysis, Return risk

Chapter 18, [1]

14 Capital adequacy,

Capital insolvency risk, capital adequacy in financiak markets Chapter 20,[1]

15 Futures, Forwards, Optıon Chapter 23-24,[1]

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 3 3


and presentation) - - -

Homework 10 3 30


Final Exam 1 3 3

Total Workload 174




BA PROGRAMS

SYLLABUS

Course unit title International Political Economy




Year of study 3-4


unit is delivered

5-8


allocated

6

Name of lecturers Nigar Huseynova

Class information

Location: Room:

Time:




course unit

Course Description

This module aims to familiarize students with rational choice and public

choice theories and arguments, and with their applications in open economies

and international political economy; theoretical concepts such as the Coase

theorem, the Arrow impossibility theorem, and economic populism; key

concepts of the New Institutional Economics and related applications to the

theory of the firm; a modern economics’ view of globalization; and the

application of international political economy concepts to Latin America.

The module also aims to deepen students'' understanding and awareness of the

meaning and importance of national cultures, the relationship between rent

seeking and protectionism; corruption; essential aspects of multinational

corporations, foreign direct investment, and regulation; specific characteristics

of the Argentine and Mexican economic policies and institutions and Chilean

‘exceptionalism’; and the possibility of applying ideas developed in this

module to other geographical, national, regional and historical contexts.

Learning outcomes

Students will understand the concepts of rational choice and public choice in

order to study aspects of a globalised world, which is in key respects different

from that of elementary textbook models

Students will gain a deep understanding of international business and the

international political economy, in a way compatible with rigorous approaches

to economic analysis

Students will become familiar with theoretical concepts from rational choice

and public choice theories, with emphasis on theories and models which apply

to open economies in a context of globalisation

Students will be able to apply these theoretical concepts in order to study some

aspects of the political economy of international business.

Students will be able to apply theoretical concepts to a Latin American case

study.

Students will be able to produce and deliver a coherent presentation.



requisites

ECON 2101




reading

Required textbooks:

1. Timothy C. Lim, Ph.D International Political Economy – An Introduction to

Approaches, Regimes, and Issues, 2014

Optional readings:

1.Christoph Engel “ Bargaining in the Absence of Property Rights”: An

Experiment, 2015






Course contents:

1. Introduction

The Social World as an Open System Defining International Political Economy:

The First Step Putting the Global in International Political

Political Economy and the State-Market Dichotomy

Defining International Global Political Economy

The Significance of Power

Chapter 1[1]

2. Globalization

What Is Globalization (and Why Is It Important)?

Why Do Scholars Disagree?

Economy Globalization: A Reprise

The Social World as an Open System

Lab : Populism case study

Chapter 1[1]

3. The Coase Theorem

What does Coase Theorem mean?

What is a Coasian solution?

What does transaction cost mean?

Would firms exist if transaction costs were zero?

pp:1-30 [1]

4. Foundational Theories of IPE: An Unconventional Introduction to

Mercantilism, Liberalism, and Marxism

The Three Major Perspectives of IPE: Still Going Strong?

Discussion: What is the realist perspective? What is the liberal view? What is

living and what is dead in Marxist theory? What are critical theories and how do

they view IPE?

Lab : Who’s Counting?

Chapter 2 [1]

5. Bureaucracy, dictatorship

The role of governments in Economy

Chapter 4 [1]

6. Contemporary Theories of International Political Economy

Hegemonic Stability

Theory Post-Hegemonic

Theories Two-Level Games and IPE

Constructivist Approaches to IPE

Chapter 3 [1]

7. Politics, Economics, and Cross-Border Trade

The Long History of Cross-Border Trade Basic Concepts and Data on Cross-

Border Trade

Cross-Border Trade: A Still Contentious Debate

The Rise of “Free” Trade in the 20th Century,

Part I The Rise of “Free” Trade in the 20th Century,

Chapter 4 [1]

Part II Regional

Trade Agreements

Lab : Tax Havens

8. Midterm

9. Rent seeking and protectionism;

Interest groups

Lobbying

Chapter 6 [1]

10. Institutions and culture

Lab : Populism case study

Chapter 4 [1]

11. Crises and the Global Financial System

The Global Financial System: The Basics

Constructing Global Financial System

Lab : Life & Debt

Chapter 5 [1]

12.

Multinational corporations

Transnational Production: Definitions, Concepts, and Basic Data Explaining the

Transnational Production Structure

Transnational Production, FDI, and Economic Development

Transnational Production and State-Firm Interactions

Lab : States & MNCs: Apples to Oranges?

Chapter 8 [1]

13. Foreign direct investment

The role of foreign investment in local economy

Chapter 6 [1]

14. Inequality, Poverty, and Exploitation in the Global Economy

Inequality, Poverty, and Exploitation: An Overview

Basic Concepts and Data on Inequality, Poverty, and Exploitation

Why Does Poverty Exist?

Chapter 7 [1]

15. The Significance and Relevance of Global Governance Chapter 8 [1]

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2




Final Exam 1 3 3

Total Workload 178

Total W orkload/30(h) 5.9



BA PROGRAMS

SYLLABUS

Course unit title International Development

Course unit code INT5003


Level of course unit First cycle/ Bachelor

Year of study 3-4


is delivered

5-8


allocated

6

Name of lecturers Nigar Huseynova

Class information

Location:

Time:



course unit

Course Description

International Development offers a coherent and interdisciplinary

grounding in the core aspects of international development theory,

policy and practice. It aims to blend theory and practice and seeks to

explain policy behaviour through an integrated approach, drawing on a

range of disciplinary perspectives. International Development is both a

course in its own right and an umbrella structure that houses a range of

more specialised master's courses, each of which explores a key

dimension of international development under four broad thematic

headings:

global political economy;

governance and management;

poverty and inequality;

the environment. Learning Outcomes

Understand in some depth alternative theoretical perspectives

associated with international development;

Describe and critically assess major economic and social issues

that persist in developing world;

Suggest remedies and define obstacles associated with

international development;

Critique remedies and policies using some of the contrasting

viewpoints associated with development studies;

Improve students'' citation and referencing skills;

Show an awareness of the relationships between economic and

policy concepts and actual policies;

Critically assess the role of international trade strategy and

regional trade blocks in the development process;

Critically assess the international role of the Global Governance

Institutions;

Understand other issues central to international development Mode of delivery Face-to-face

Prerequisites and co-requisites BUS 1201




reading

Required readings:

1. Benjamin M. Friedman Moral Consequences of Economic Growth,

Penguin Random House, 2006

2. William Easterly. White Man’s Burden: Why the West’s Eforts to Aid

the Rest Have Done So Much Ill and So Little Good. New York: Penguin,

2007

3.Andrew Heywood “Global Politics”, Red Globe Press, 2014


teaching methods




Course contents:

1. Defining International Development Chapter 1[1]

2. Historical Context Chapter 2[1]

3. Historical Context Chapter 8 [1]

4. Measuring Development

Case – Development, Science, and Innovation in Africa

Chapter 1 [1]

5. Classical Theories of Development Chapter 2 [3]

6. Evolution of the World Economy and Global Governance

Case A Case Study of the Post-2015 Development Negotiations

Chapter 17, 18

[1]

7. Strategies of Development Chapter 2–3

[2]

8. Midterm Examination

9. Aid and Development: Foreign finance, Investment and Aid Chapter 5 [2]

10. Poverty Inequality and Development

Case: Urban Poverty in China

Chapter 15[3]

Chapter 6[2]

11. Trade, Corporate Social Responsibility and International Development Chapter 4[3]

12. Economic Development and State Regimes Chapter 4[2]

13. Ethical Dimensions Chapter 14[1]

14. Problems and Challenges of Development

Case – Understanding Development taking Gender Seriously

Chapter 20[1]

15. Revision, Presentations, Spare class

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2



Homework 4 6 24


Final Exam 1 3 3

Total Workload 172

Total Workload / 30(h) 5.7



BA PROGRAMS

SYLLABUS

Course unit title MATHEMATICS FOR ECONOMICS AND BUSINESS






unit is delivered

1st Semester


allocated

6

Name of lecturers Akif Vali Alizadeh


Time:


Contact: [email protected], [email protected]


course unit

Course Description

This module introduces students to the application of mathematics to

economics, management and accounting. The material will show how

mathematical methods can be applied to problems in market analysis,

compound interest, investment appraisal and agent optimisation (eg consumer

utility maximisation and firm profit maximisation). The module design takes

account of students differing mathematical backgrounds in conjunction with

the need to prepare all students for second and third year courses.


After completing MATH 1101, students should be able to:

Students will be able to develop a good grasp of basic mathematical

techniques in the study of supply and demand curves;

Students will become familiar with the basic techniques of calculus

and their applications to economics: the analysis of profit, revenue etc;

Students will develop a working knowledge of the basic mathematics

of finances




requisites

None




reading

Required readings:

1. Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen. Calculus,

for business, economics, life sciences, and social sciences, Pearson

2010

Recommended readings:

2. Larry J. Goldstein. Brief Calculus & Its Applications, Pearson

Education, 2013


printed forms.






Course contents:

1. Introduction to mathematics for economics, management and

accounting

2. Linear Equations and Inequalities, Graphs and Lines Chapter 1[1]

3. Linear functions - graphs, simultaneous equations, supply and

demand analysis

Chapter 2.1[1]

4. Elementary Functions: Graphs and Transformations Chapter 2.2[1]

5. Non-linear functions - quadratic and polynomial functions, exponents Chapter 2.3-2.4[1]

6. The exponential and logarithmic functions with economic

applications

Chapter 2.5-2.6[1]

7. Differentiation - rules for differentiation Chapter 3[1]

8. Midterm Exam

9. Application of differentiation to economics - marginal analysis and Chapter 3.7[1]

elasticity

10. Optimisation (unconstrained) - maxima and minima, Absolute

Maxima and Minima

Chapter 5.1-5.5[1]

11. Minimising costs, maximising revenue and maximising profit Chapter 5.6[1]

12. Mathematics of Finance - geometric series, interest, growth,

compounding, discounting and present value

13. Integration, Antiderivatives and Indefinite Integrals, Integration by

Substitution, Differential Equations; Growth and Decay, The Definite

Integral

Chapter 6[1]

14. Functions of Several Variables, Partial differentiation - differentiating

functions with at least two independent variables, partial elasticities,

homogeneous functions and unconstrained optimisation

Chapter 8.1-8.3[1]

15. Maxima and Minima Using Lagrange Multipliers Chapter 8.4[1]

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2



Homework 3 6 18


Final Exam 1 3 3

Total Workload 176




BA PROGRAMS

SYLLABUS

Course unit title Corporate Governance

Course unit code MGS 3201





unit is delivered

6th semester


allocated

6

Name of lecturer Natig Mammadov

Class information

Location: Room:

Time:

Office hours: upon students’ appointment.



course unit

Course Description

Corporate governance refers to the mechanisms that solve two principal-agent

(PA) problems, which are present in large corporations where ownership of

residual cash flow and control are in different hands.

One such PA problem arises between the owners of capital and managers,

and another between the small, dispersed owners and large, concentrated

blockholders of the firm. The objective of the course is to present the main

questions and answers related to corporate governance, the theories

describing them and the empirical work.

Course Objectives

This course aims to introduce the basics of corporate governance, importance

of practicing corporate policies, the need of sound and transparent

governance structure of the firm, and appropriate handling of the governance

issues in a company. The core concepts of corporate governance include

understanding of general governance structure of a firm, the internal and

external corporate documents, the description and role of major governing

bodies, rights of the corporate authorities and shareholders, corporate

transactions, information disclosure, control and audit procedures, and

implications of charter capital.

After studying this course the students should be able to:

Understand what good directors need to know to provide good

governance.

Value both shareholder and other stakeholders’ rights and

responsibilities.

Adhere to sound principles of directorship and management.

Understand the significance of board committees, their composition

and responsibilities.

Implement best practices on corporate governance.

Understand corporate governance practices in the world


On successful completion of this module, the learner will be able to:

provide a range of definitions of corporate governance

identify issues usually addressed by corporate governance structures

summarise recent scandals and abuses and the regulatory reaction

identify the other drivers of corporate governance, such as capital

markets, shareholders and rating agencies.



requisites

FIN 2101



Microsoft Office


reading

Required readings:

1. 1. Brian Coyle Corporate Governance 5E, ICSA Publishing Ltd, 2015

2. 2. Trina Hill Csqs Corporate Governance, ICSA Publishing Ltd; 3rd New

edition edition, 2017

3. 3. David Crowther, Shahla Seifi, Corporate Governance and International

Business, BookBoon 2011


printed forms.






Course contents:

1 Introduction to Corporate Governance

Organizational Choices and Their Consequences

Control and Direction Processes

Regulatory Compliance

Active Ownership and Investment in a Company

Chapter 1 [1]

Chapter 1 [3]

(p 11-19 [1])

(p 11-17 [3]

2

History of Corporate Governance

Corporate Growth Places Emphasis on Developing Corporate Governance

The 1980s Brought a Corporate Governance Reform Counter-Reaction

The “Deal Decade” Leads to Shareholder Activism

Chapter 1 [2]

Chapter 2 [3]

(p 13-27 [2])

(p 19 – 29 [3])

3 Relevant theories of Corporate Governance

Agency Theories

Stewardship Theories

Resource-Dependence Theories

Chapter 2 [1]

Chapter 3 [3]

(p 21-29 [1])

(p 31-38 [3])

Stakeholder Theories

4 Corporate Collapses

Understanding Corporate Collapse

The Reasons Behind a Corporate Collapse

Corporate planning and Corporate Collapse

Chapter 3 [1]

Chapter 3 [2]

(p 31-42 [1])

(p 29-39 [2])

5 Corporate Failures

Understanding the causes of corporate failure

Regulatory, Accounting and Ethical Failure

Major Corporate Governance Failures

Chapter 4 [1]

Chapter 5 [2]

(p 43-59 [1])

(p 71-82 [2])

6 Implementation Good Corporate Governance

Building a Strong Board of Directors

Foster Loyalty and Trust

Streamline Processes

Definition of Governance Cloud

Chapter 5 [1]

Chapter 5 [3]

(p 63-81 [1])

(p 73-91 [3])

7 Corporate governance frameworks

Corporate Governance Principles

Building Blocks and Fundamental Elements of Effective

Corporate Governance

Chapter 6 [1]

Chapter 6 [2]

(p 85-97 [1])

(p 83-94 [2])

8 MIDTERM EXAM

9 The Board of Directors

Board Governance Structure

The Role of the Board of Directors in Corporate Governance

Appropriate Board Composition

Articulating Long-Term Plans to Shareholders and Stakeholders

Chapter 7 [1]

Chapter 9 [3]

(p 101-119

[1]) (p 129-

147 [3])

10 Board Operations

Non-executive Board Chair

Conflicts of interest

Assessments of effectiveness

Chapter 9 [1]

Chapter 9 [2]

(p 129-147

[1]) (p 125-

149 [2])

11 Directors'' remuneration

Remuneration Committees

Responsibilities of the Remuneration Committee

Components of Directors' Remuneration Package

Performance-related Elements of Remuneration

Chapter 10 [1]

Chapter 11 [2]

(p 149-167

[1]) (p 161-

189 [3]

12 Board Committees

Audit Committee

Nomination Committee

Remuneration Committee

Disclosure Committee

Chapter 11 [1]

Chapter 12 [3]

(p 169-188

[1]) (p 193-

211 [3])

13 Shareholders and Institutional Investors

Shareholder Rights and Institutional Investors

The Difference Between Institutional and Non-Institutional Investors

Institutional Investors as Shareholders

Chapter 12 [1]

Chapter 13 [3]

(p 193-217

[1]) (p 213-

231 [3])

14 The Professional "Gatekeepers"

The Role of a Gatekeeper

Gatekeepers and Outside Salespeople

Breaching the Gatekeeper

Chapter 14 [1]

Chapter 15 [3]

(p 235-258

[1]) (p 277-

302 [3])

15 Corporate Governance and Criminal Law

The Intersection of Corporate Governance and Criminal Law

The Changing Role of Criminal Law in Controlling Corporate Behavior

Criminal Sanctions as a Matter In Corporate Governance

Chapter 15 [1]

Chapter 15 [2]

(p 263-279

[1]) (p 307-

329 [2])

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2



Homework 3 6 18


Final Exam 1 3 3

Total Workload 180




BA PROGRAMS

SYLLABUS

Course unit title Corporate Reporting and Analysis

Course unit code MGS 3202





unit is delivered

Sixth semester


allocated

6

Name of lecturers Muslum Mammadov

Class information

Location: Room:

Time:




course unit

Course Description:

In this course, you will learn about corporate reporting and the analysis of

them. The course will teach and give an understanding of how various

financial reporting: should be prepared, should be treated and which

assumptions can be made by correct analyzing of them.


Students should be able to prepare financial statements and correctly

analyze them.

Got an understanding of the accounting profession, as well as an

appreciation of the role of auditing in enhancing the credibility of

publicity reported information.

Understand the: rules and regulations applied to financial reporting.

Should be able to: make links between financial reporting and other

aspects of accounting, explore the critical perspectives of accounting.



requisites

FIN 2101



EXCEL


reading

Required readings:

1. B. Elliott and J. Elliott – Financial Accounting and Reporting

17 edition, Pearson 2015.

Additional information will be distributed either electronically or delivered

in printed forms.



Classroom lecturing, assignment, discussion sessions, presentation, laboratory

works



Course contents:

1

Preparation of Financial Statements:

Accounting and reporting on a cash flow basis

Accounting and reporting on an accrual accounting basis


Chapter 1[1]

Chapter 2[1]


2 Preparation of Financial Statements:

Preparation of financial statement of comprehensive income, changes in

equity and financial position

Annual report: additional financial disclosures

Statements of cash flows

Chapter 3[1]

Chapter 4[1]

Chapter 5[1]

3 Part 2 – Income and Asset Value Measurement System:

Income and asset value measurement: an economist approach

Accounting for price level changes


Chapter 6[1]

Chapter 7[1]

4 Part 2 – Income and Asset Value Measurement System:

Accounting for price level changes

Revenue recognition

Quiz

Chapter 7[1]

Chapter 8[1]

5 Part 3 – Regulatory Framework – An Attempt to Achieve Uniformity:

Financial reporting – evolution of global standards

Concepts – evolution of an international conceptual framework

Ethical behavior and implications for accountants

Quiz

Chapter 9[1]

Chapter 10

[1]

Chapter 11

[1]

6 Part 4 – Statement of Financial Position – Equity, Liability and Asset Measurement

and Disclosure:

Share capital, distributable profits and reduction of capital

Liabilities

Chapter

12[1]

Chapter

13[1]


and Disclosure:

Financial instruments

Employee benefits

Taxation in company accounts

Chapter

14[1]

Chapter

15[1]

Chapter

16[1]

8 Midterm


and Disclosure:

Property, plant and equipment (PPE)

Leasing

Intangible assets

Chapter

17[1]

Chapter

18[1]

Chapter

19[1]


and Disclosure:

Inventories

Construction contracts

Chapter

20[1]

Chapter

21[1]

11 Part 5 – Consolidated Accounts:

Accounting for groups at the date acquisition

Preparation of consolidated statements of financial position after the date

acquisition


Chapter

22[1]

Chapter

23[1]

12 Part 5 – Consolidated Accounts:

Preparation of consolidated statements of income, changes in equity and

cash flows

Accounting for associates and joint arrangements

Introduction to accounting for exchange differences


Chapter

24[1]

Chapter

25[1]

Chapter

26[1]

13 Part 6 – Interpretation:

Earnings per share

Review of financial statements for management purposes

Chapter

27[1]

Chapter

28[1]

14 Part 6 – Interpretation:

Analysis of published financial statements

An introduction to financial reporting on the internet

Chapter

29[1]

Chapter

30[1]

15 Part 7 – Accountability:

Corporate governance

Sustainability – environmental and social reporting

Chapter

31[1]

Chapter

32[1]

Final Exam



(hour)

Total Workload

(hour)




Midterm Exam 1 3 3

Paper/Project (including preparation and


Homework (assignments, lab works) 8 2.5 20


Final Exam 1 3 3

Total Workload 174




BA PROGRAMS

SYLLABUS

Course unit title Global Strategic Management

Course unit code MGT 4101



Year of study 4th year


delivered

7th semester


allocated

6

Name of lecturer Zulfugar İbrahimli

Class information

Location: ____ Room: ______

Time: _______




unit

Course description:

Modern global economy consists of markets, firms, consumers,

governments, and other actors that are more connected to each other than

at any time in previous decades. In such a situation multinational

enterprises should to do business, leverage the opportunities and

simultaneously prepare themselves to meet the new challenges.

Analyzing, formulation and implementing global strategy is always

challenging, because the MNE has to contend not only with multiple

geographies, fast-changing technologies, and an unforgiving competitive

landscape, but also with the diverse social, economic, and political

contexts in which it operates. Therefore, well defined strategies are

crucial for successfully competing in global markets.

Global Strategic Management course focuses on identifying and

understanding the sources of superior firm performance in the global

connected economy. The course provides an overall direction to the

organization, whilst defines its relationship with both the external and

internal environment. The course is designed specifically to introduce

students with key strategy concepts and simultaneously help them to

integrate and apply their prior learning to various business situations. The

course serves as an opportunity to develop skills for strategic thinking

and analysis, leadership, communication, teamwork, and cross-functional

integration.

Learning Outcomes:

The primary objectives of the course are:

to provide an integrative framework that will allow students to

synthesize knowledge from other business courses into a

comprehensive understanding of competitive advantage;

to provide students with a basic understanding of the nature and

dynamics of the strategy formulation;

to encourage students to think critically and strategically;

to help students acquire practical experience in dealing with

strategic issues;

to explore conceptual frameworks and models which will assist

students to analyze competitive situation and strategic dilemmas

and gain insight into global strategic management;

On completion of this course, students will be able to:

Demonstrate understanding of the strategy concept;

Understand the external business environment and

context in which organisation’s strategies are formed and

implemented

Identify the internal resources and capabilities that

organisations rely on to develop competitive advantages

in relation to the external business environment

Evaluate an organization’s strategy from different

perspectives

Formulate and implement organisational strategies taking

into account the competitive and contextual environment.

Select and use relevant strategic management literature

and frameworks

Critically analyse an organization’s competitive internal

and external environment and draw implications for

strategy design and implementation

Formulate business, corporate and network level strategic

analysis and understand the tools and methods used

Distinguish between different levels of strategies, identify their

role on firm performance, and recommend appropriate actions

for real-world scenarios.


Prerequisites and co-requisites MNG 2201


programme components ‒


reading Required readings

1. Peng W.M. Global Strategic Management, Cengage Learning

Inc; 3rd edition edition, 2015;

2. Rothaermel F. T. Strategic Management, McGraw-Hill

Education; 3rd edition, 2016;

3. Jain V.K. Global Strategy: Competing in the Connected

Economy, Routledge, 1 edition, 2017;

4. Dicken P. Global Shift Mapping: The Changing Contours of the

World Economy, The Guilford Press, 6th Edition, 2011;

Recommended readings

5. Porter M. E. Competitive advantage: Creating and Sustaining

Superior Performance, NY: Free Press, 2000;


teaching methods

Classroom lecturing, case analysis and discussions, presentations,

teamwork reports, group exercise.


English

Course contents:

1 1. Lecture: Foundations of global strategy, Generic

business strategies, and Ansoff growth matrix

Case analysis and discussions

Chapter 1,2 [1]

Chapter 6 [2]

2 2. Lecture: Global business environment, industry

structure and competitive forces


Chapter 2 [1]

Chapter 3 [2]

3 3. Lecture: The resource-based view of the firm,

dynamic capabilities and core competencies


Chapter 3 [1]

Chapter 4 [2]

4

4. Lecture: The institutional paradigm in international

business, cultural and global strategy


Chapter 4 [1]

5 5. Lecture: How to enter a foreign market: market

entry strategies


Chapter 5 [1]

Chapter 4 [3]

6 6. Lecture: Entrepreneurship, international business,

and internationalization of new ventures


Chapter 6 [1]

7 7. Lecture: Global Competition and Innovation-

Driven Growth


Chapter 7 [2]

8 Midterm

9

8. Strategic alliances, joint ventures and networks

9. Case analysis and discussions

Chapter 7 [1]

10

Dynamic competition in global markets and interactions of

competing firms


Chapter 8 [1]

11

10. Lecture: Changing nature of global production,

logistics and distribution; Global Factory


Chapter 3,13 [4]

12 Lecture: Merger and acquisitions, corporate diversification,

and international business restructuring

Chapter 9 [1]

13

Lecture: Corporate governance, Business Ethics and Social

Responsibility in the multinational enterprise


Chapter 11 [1]

14 Lecture: Emerging economies and global strategy

Case analysis and discussions:

Chapter 6 [3]

15 Group/Report presentations

Final Exam



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2



Homework 3 6 18


Final Exam 1 3 3

Total Workload 178




BA PROGRAMS

SYLLABUS

Course unit title Critical Perspectives in Management

Course unit code MGT 5015



Year of study 3-4


unit is delivered

5-8


allocated 6

Name of lecturers Farida Huseynova

Class information

Location: Room:

Time:



course unit

Course Description

This course examines how field of management is undergoing a revolution.

Demand on today’s managers go well beyond the techniques and ideas

traditionally taught in management courses. Today’s managers need different

skills to engage workers’ hearts and minds as well as take advantage of their

physical labor. The emerging paradigm focuses on leadership, on harnessing

people’s creativity and enthusiasm, finding shared vision and values, and sharing

information and power.

Course Expectation The course premise is that managers act and react to external global stimuli. A

primary learning task is for you to analyze actual and potential effects of

management. Teamwork, collaboration, participation, and learning are guiding

principles that help managers and employees maneuver the difficult terrain of

today’s complex global environment anticipate global effects on individuals and

organizations. Thus learning objective is to understand how managers respond to

or anticipate global shifts. It shapes your world, and has implications for your

career, your future as a manager, and your opportunities as a citizen.

Learning Outcomes

After completing MGT 5015, students should be able to answer to questions and

understand the following topics:

understand recent developments of epistemological and methodological

alternatives

Explain the rise of managerialism associated with the hegemony of the

New Right

Challenge the dominance of current orthodoxy in management thought);

Develop a critique of prominent and influential studies of managerial work



requisites

None



NA


reading

Required reading:

1.Richard L.Daft, Management, fifth edition, Cengage Learning,2000

Slides and materials on the topics will be sent to students’ e-mails. Additional

materials for class discussions and lectures related to the theme will be distributed

in class.



Active class participation is compulsory for students. All of the topics play a

critical role in the successful transition of first year students to University

community. It not only helps the students reach the real goal of this course

learning, but also allows the Program to be perceived by others positively.

In order to learn, the students need to be actively involved and engaged with the

course content. This course should be filled with discussions, activities, and

assignments. Because we learn best when engaged with others, you will frequently

work with a partner or in small group. The students’ success in this course depends

largely on their commitment and hard work.

Smart goals

The students have to identify their goals and strategies for success and understand

the steps necessary to achieve these goals. They will be asked to create three (3)

SMART goals. Throughout the semester, they will be expected to reflect on their

progress towards achieving their goals.


Work placement(s)

Course contents:

1. Introduction Management

The definition of Management

The Four Management Functions

Management skills

Management types

Chapter 1 [1]

2. Historical Foundations of the learning Organization

Management and Organization

The learning Organization

Classical Perspective

Humanistic Perspective

Chapter 2 [1]

3. The Environment of Management

The External Environment

The Organization-Environment Relationship

The Internal Environment: Corporate culture

Chapter 3 [1]

4. Managing in a Global Environment

A Borderless World

The International Business Environment

The Economic Environment

The Legal-Political Environment

Chapter 4 [1]

5. Managerial Ethics and Corporate Social Responsibility

What is Managerial Ethics?

Criteria for Ethical Decision Making

What is Social Responsibility?

Chapter 5 [1]

6. The Environment of Enterpreneurship and Small-Business Management

What is Entrepreneurship?

Entrepreneurship and the Environment

Who are Entrepreuners?

Chapter 6 [1]

7. Organizational Planning and Goal Setting

Overview of Goals and Plans

Goals, Plans, and Performance

Criteria for Effective Goals

Chapter 7 [1]

8. Midterm Exam

9. Strategy Formulation and Implementation

Thinking Strategically

The Strategic Management Process

Formulating Corporate-Level Strategy

Chapter 8 [1]

10. Managerial Decision Making

Types of Decisions and Problems

Decision-Making Models

Decision-Making Steps

Chapter 9 [1]

11. Fundamentals of Organizing

Organizing the Verical Structure

Departmentalization

Management in Practice: Experiential Exercise

Chapter 10 [1]

12. Using Structural Design to Achieve Strategic Goals

The Horizontal Organization

Traditional versus Learning Organizations

Factors Affecting Structure

Chapter 11 [1]

13. Change and Development

The Learning Organization

Model of Planned Organizational Change

Initiating Change

Implementing Change

Chapter 12 [1]

14. Human Resource Management

The Strategic Role of HRM

Environmental Influences on HRM

The Changing Nature of Careers

Attracting an Effective Workforce

Chapter 13 [1]

15. Managing Diverse Employees

Valuing Diversity

The Changing Workplace

Affirmative Action

New Responses to Cultural Diversity

Chapter 14 [1]

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 2 2



Homework 2 5 10


Final Exam 1 3 3

Total Workload 178


ECTS Credits of the Course 6


BA PROGRAMS

SYLLABUS

Course unit title Fundamentals of Marketing

Course unit code MKT 1101





delivered

1st semester


allocated

6

Name of lecturer Khatira Dovlatova

Class information

Location: Room:

Time:




unit

Course Description

This course introduces the students to the fundamental concepts, tools and activities that

comprise the marketing function. It overviews the development of marketing thought as

well as contemporary issues in marketing. Topics include the marketing concept and

orientation, segmentation and positioning, buyer behaviour analysis and marketing mix-

product, price, promotion, distribution-decisions.

Course Learning Outcome

Students will be able to demonstrate an understanding of the fundamental concepts and

terminology used in marketing.

Students will be able to identify and apply appropriate marketing tools.

Students will be able to make marketing decisions by critically thinking the information

provided to them (i.e. by evaluating arguments).

Students will be able to develop their analytical reasoning and problem solving skills in

a marketing management setting, especially with respect to understanding social,

political, economic and competitive environments, their inter-relationships, and their

influences on marketing actions, and evaluating marketing decision variables in the

design of marketing strategies, and showing awareness of the ethical components of

marketing decision making.

Students will be able to develop a foundation for further study in marketing and other

business areas.

Students will be able to practice interpersonal communication and writing skills

consistent with contemporary marketing management and business practices. More

specifically, students will be able top produce quality marketing plans, and deliver a

quality professional presentation of their marketing plan to the class using appropriate

technology.


Prerequisites and co-requisites None



NA


reading

Required readings:

1. Charles W., Hair, Joe F., McDaniel, Carl… Marketing Lamp Hair McDaniel 11e

Marketing 11th Edition by Lamb, Suoth-Western College/West,2010.

2. Kotler, P,. and Armstrong, G., Principles of Marketing 14 Edition, Pearson Education

Limited, 2012

Additional information will be distributed either electronically or delivered in printed

forms.


teaching methods



Work placement

Course contents:

1 An Overview of Marketing

• What is Marketing ?, Needs, Wants and Demand, Offerings and Brands, Design a Customer

Driven Marketing

Chapter 1[2]

(p.4-34)

2 Strategic planning

• What is Marketing Plan ?, Writing the Marketing Plan, Cost Competitive Advantage

Chapter 2[1]

(p.34-50)

3 The Marketing Environment

• Analyzing the Marketing Macro and Micro Environment , Demographic, Cultural, Economic,

Social, Political enviroment,Responding to the Marketing Enviroment

Chapter 3[2]

(p.64-94)

4 Marketing Research

• Define the problem, the decision alternatives, and the research, Develop the Research Plan,

Gathering Secondary Data

Chapter 4[2]

(p.98-118 [2])

5 Consumer buying behaviour in decision

• Factors influencing Consumer buying decision, Organizational Buying Behaviour, Factors

influencing the buying process and the buying centre

Chapter 5 [2]

(p.134-157[2])

6 Business to Business Marketing

• What is Business Marketing?, B2B versus Consumer Marketing: Similarities and

Differences, Types of Businesses

Chapter 6[2]

(p.166-255 [2])

7 Segmenting and Targeting Markets

• Geographic Segmentation, Demographic Segmentation, Psychographic Segmentation,

Benefit Segmentation, Usage- Rate Segmentation

Chapter 8[1]

(p.260-283 )

8 Midterm Exam

9 Product Concepts

• Convenience Products, Benefits of Branding , Packaging Functions Chapter 10 [1]

(p.336-359)

10 Developing and Managing Products

• Categories of New Products, New – Product Strategy, Idea Generation, Idea Screening,

Business Analysis, Development, Test Marketing, Commercialization

Chapter 11[1]

(p.361-386)

11 Pricing Concepts

• What is Price? Staus Quo Pricing Objectives, The Relationship of Price to Quality

Chapter 19 [1]

(p.629-660)

12 Marketing distribution channels

• The Importance of Channels, Channel Functions and Flows, Selecting Channel Members

Chapter 12[1]

(p.338-371)

13 Retailing

• Ownership, Product Assortment, Department stores, Convenience Stores,Restaurants Chapter 15 [1]

(p.484-501)

14 Advertising and PR

• Identifying Product Benefit, Executing the Message, Media Scheduling

Chapter 17 [1]

(p.554-590)

15 Sales Promotion and Personal Selling

• The Objectives of Sales Promotion, Contests and Sweepstakes, Point- of- Purchase-

Promotion

Chapter 18 [1]

(p.592-611)

FINAL EXAM



(hour)

Total Workload

(hour)




Midterm Exam 1 3 3


and presentation) - -

-

Homework 10 3 30


Final Exam 1 3 3

Total Workload 178




BA PROGRAMS

SYLLABUS

Course unit title International Marketing

Course unit code MKT4101





unit is delivered

7th semester


allocated

6

Name of lecturer Elnur Guliev

Class information

Location: Room:

Time:




course unit

Course Description

This module aims:

to introduce students to the international environment for marketing;

to build an appreciation of how they might go about building international

activities;

to introduce students to the concept of global marketing management;

to develop an understanding of the key types of international transitions.


Students will be able to identify the major changes in the international trading

environment and their impact on the marketing activities of global businesses.

Students will be able to develop marketing strategies appropriate to

industrialized, developing and lesser developed economies, and identify and

explain the relevant sources of information and analysis necessary to support

the appropriate strategy. Students will be able to critically evaluate the mix

decisions that need to be taken to support global marketing activity, Problem

solving skills:

Commercial awareness

Organizational skills

Communication skills

International awareness

Team work



requisites

MNG 2201



EXCEL


reading

Required readings: 1.Essentials of Global Marketing by Hollensen, Svend; Hollensen,

Svend, 2008


printed forms.





Work placement(s) N/A

Course contents:

1. The international marketing imperative

The strategic importance of Global marketing

Differences between international and domestic marketing

Forces Affecting Global Integration and Global Marketing

Competitive Advantage, Globalization, and Global Industries

Ch. 1[1]

2. The international marketing environment: cultural/social, political/legal,

financial and economic

The Global Economic Environment

The Global Trade Environment

Social and Cultural Environments

The Political, Legal, and Regulatory Environments

Group discussions

Case Study; IKEA catalogue: Are there any cultural differences

Ch. 2[1]

3. Consumer trends impacting upon international marketing activities

International market selection: SMEs versus LSEs

Building a model for international market selection

The global product/market portfolio

Case study: Red Bull: The global market leader in energy drinks is

considering further market expansion

Ch. 3[1]

4. Global strategic planning

The Empirical Rule

The role of marketing research and opportunity analysis

The role of international marketing research

International marketing segmentation

The international marketing information system Quiz 1 (Units: 1,2,3)

Ch. 4[1]

5. Export and market entry processes Class discussions

Ch. 5[1]

6. The global marketing mix

The alternative views of globalization

Alternative strategic responses

International marketing management for global firms

Ch. 6[1]

7. Contemporary debates in marketing

Case Study; Zippo Manufacturing Company: Has product diversification beyond Ch. 7[1]

8. Midterm

9. International communications and promotion

External determinants of channel decisions

Managing and controlling distribution channels

The communication process

Communication tools

Case Study: De Beers: Forward integration into the diamond industry value

chain Quiz 2 (Units: 6,7)

Ch. 8[1]

10. Marketing analysis, planning, implementation and control

The role of marketing communications

The fundamental challenges for international marketing communications

International marketing communications strategy

Case Study; Google to dominate online ads?

Ch. 10[1]

11. Pricing for international markets

Domestic vs international pricing

The factors affecting international pricing decisions

Developing pricing strategies

Problems of pricing and financing international transactions

Problems in multi-national pricing

Ch. 11[1]

12. Competitive Advantage

Analysis of national competitiveness (the Porter diamond)

Competition analysis in an industry

Value chain analysis

Ch. 12[1]

13. Cross-cultural sales negotiations

Cross-cultural negotiations

Intercultural preparation

Knowledge management and learning across border

Case Study: Mecca Cola: Marketing of a ‘Muslim’ cola to the European market

Ch. 13[1]

14. Organization and control of the global marketing program

Organization of global marketing activities

The global management account (GAM) organization

Controlling the global marketing program

Case Study: iPhone: Apple’s entry into the global mobile phone business

Ch. 14[1]

15. Course review and revision

FINAL EXAM



(hour)

Total Workload (hour)



Homework 3 10 30





Midterm Exam 1 3 3

Final Exam 1 3 3

Total Workload 178



AZERBAIJAN STATE OIL AND INDUSTRY

UNIVERSITY / BA PROGRAMS

SYLLABUS

Course unit title International Management

Course unit code MNG 2201





delivered

4th semester


Name of lecturer Zulfugar Ibrahimli

Class information

Location: Room:

Time:




unit

Course description:

The aim of International management course is to weapon students with

necessary theoretical knowledge and practical tools, that will navigate them

in solution of complex tasks in international business environment. The

primary purpose of the course is to prepare students for careers in a

dynamic global environment wherein they will be responsible for effective

strategic, organizational, and interpersonal management. The course guides

students as to what actions to take, and how to develop the skills necessary

to design and implement global strategies, to conduct effective cross-

national interactions, and to manage daily operations in foreign subsidiaries.

Learning Outcomes:

After completing the Course, students should be able to:

1. Understand cultural context of global business operations;

2. Develop the knowledge and skills needed to manage effectively in

different cultures;

3. Apply management concepts and techniques in a multinational

environment;

4. Learn basic principles and frameworks of international strategies

formulation

5. Enhance understanding of what determines the success and failure of

companies around the globe.


Prerequisites and co-requisites None



-

Recommended or required reading Required readings:

1. Peng M. Global Business, Cengage Learning, 4th edition, 2016;

2. Fred L., Doh. J., International management: culture, strategy, and

behavior, McGraw-Hill/Irwin, 8th edition, 2010;

Recommended readings:

3. Morschett D., Schramm-Klein H., Zentes J. Strategic

International Management. Text and Cases, Springer Gabler,

3rd ed, 2015; 4. Alan M. Rugman, and Thomas L. Brewer ,The Oxford Handbook

of International Business, Oxford University Press, 2005


teaching methods

Classroom lecturing, case analysis and discussions, presentations, teamwork

reports


English

Course contents:

1 Introduction to International Management: Why businesses go

international


Chapter 1[2]

2 Global trade and foreign direct Investment Chapter 1[2]

3 Creating global business: motivations, strategies, entry modes, and

financing expansion


Chapter 1[2]

4 Evaluation of International Business Environment


Chapter 2[2]

5 International Strategic Management: Formulation of Global and

Regional Strategies


Chapter 2[2]

6 Organizing and Managing International Firms


Chapter 5[2]

7 Global Human Resources Management


Chapter 14[2]

8 Midterm

9 The Cultural Context of International Business


Chapter 4[2]

10 Cultural Diversity, Organizational Culture and Effective

management


Chapter 6[1]

11 Business Groups, Conglomerates and Emerging Market MNCs


Chapter 9[2]

12 International Business and Governments: Political Risk, and

Government Relations


Chapter 10[2]

13 International Business Failure: Understanding and Learning from

Failures


Chapter 11[2]

14 Social Responsibility, Legal, Financial and Ethical Issues


Chapter 11[2]

15 Report presentations

Final Exam



(hour)

Total Workload

(hour)




Midterm Exam 1 3 3



Homework 3 6 18


Final Exam 1 3 3

Total Workload 178




BA PROGRAMS

SYLLABUS

Course unit title Statistics for Economics and Business

Course unit code STAT 1201





delivered

2nd Semester


allocated

6

Name of lecturers Rena Zulfugarova

Class information

Location: Room:

Time:




unit

Course Description

In this course, you will learn basic statistical techniques that you will need in

econometrics and economics. The main aim of this course is to give students

an understanding of how statistics operates in Business and Economics, to

provide both a foundation for further study and a broadly based introduction to

statistics, to enable students to summarize, present and analyze data from a

sample, to enable students to understand and apply the practice of statistical

inference to sample data to estimate full population variable parameter, to

enable students to work comfortably with variables as probability distributions,

introducing some common and practicably useful probability distributions.


After completing STAT 1201, students should be able to:

apply the basis of data analysis

summaries, describe and present raw data

estimate the mean of a population (and other statistics)

formulate and test hypotheses about values in the population based on

random samples

identify and model relationships between two variables

carry out basic statistical computations and graphical analysis

apply statistical methods for solving problems in business and

economics.


Prerequisites and co-requisites MATH1101



MS Excel


reading

Required readings:

1.David Moore, The Basic Practice of Statistics, Fifth Edition, W. H.

Freeman, 2009

2. David M. Levine, David F., Stephan Timothy, C. Krehbiel, Mark L.

Berenson, STATISTICS FOR MANAGERS USING Microsoft Excel,

Pearson, 2010

mailto:zulfugarova.rena@

3.Statistics for business and economics, Newbold, Paul; Carlson, William

Lee; Thorne, Betty Published, 2013

Additional information will be distributed either electronically or delivered

in printed forms.


teaching methods




Course contents:

1. Introduction to the Statistics and Statistical fundamentals:

Types of Statistics

Types of Variables

Raw data, arrays, population, sample, frequency distributions

LAB. Basic Excel formulas and functions and Spreadsheet model MS Excel

Chapter 1[1]

Chapter 4[2]

2. Displaying Distributions with Graphs:

Bar charts, Pie charts

Histograms, Stem plots, Time plots

LAB. Construction and graphing Bar, Pie Charts, Histogram, Stemplots, Time

plots (Software commands for MS Excel, PHStat. )

Chapter 1 [1,3]

Chapter 2[2]

3. Describing Distributions with Numbers:

Measuring center: The Mean

The Weighted Mean

The five-number summary and Box-plots

LAB. Descriptive Statistics (Software commands for MS Excel, PHStat.)

Chapter 2 [1,3]

Chapter 3[2]

4. Density curves and Normal distributions:

The Empirical Rule

Normal Distribution and Normal Curve

Standardized value - Z-score

LAB. Areas under the Normal Curve, Finding value of an Observation. (Software

commands for MS Excel, PHStat)

Chapter 3[1]

Chapter 6[2]

Chapter 5[3]

5. Correlation & Least Squares Regression:

Correlation Analysis

The Coefficient of Correlation

The Regression Model

LAB. Regression analysis (Software commands for MS Excel, PHStat).

LAB. Construction and graphing Scatter plots, Correlation analysis (Software

commands for MS Excel, PHStat)

Chapter 10 [2]

Chapter 11 [3]

6. Sampling designs and design of experiments

Simple Random Samples.

Other Sampling Designs.

LAB. Creating simple random samples (Software commands for MS Excel,

PHStat)

Chapter 8 [1]

Chapter 7 [2]

Chapter 6 [3]

7. Probability

Randomness and Probability.

General Rules of Probability.

LAB. Determining Probability (MS Excel, PHStat)

Chapter 12[1]

Chapter 4[2]

Chapter 3[3]

8. Midterm Exam

9. Conditional Probability:

Bayes’ Rule

Independence

Multiplicative Rules

LAB. MS Excel commands for Bayes’ Rule & Independence

Chapter 12[1]

Chapter 4[2]

10. Some discrete probability Distribution:

Binomial Distribution

Poisson Distribution

LAB. Binomial Distribution & Poisson Distribution (Software commands for MS

Excel, PHStat)

Chapter 13[1]

Chapter 5[2]

11. Estimating with Confidence

Statistical confidence

Confidence Intervals for the mean µ

LAB. Computing the confidence interval estimate for the mean (σ known and

unknown (Software commands for MS Excel, PHStat)

Chapter 8 [2]

12. Tests of Significance

Stating Hypotheses

P-value and Statistical Significance

LAB. Testing hypothesis for means (Software commands for MS Excel, PHStat)

Chapter 6[1]

Chapter 5 [2]

13. Inference for decision making

The Payoff Table and Decision Trees

Criteria for Decision Making

Chapter 5 [2]

14. Inference for the mean of a population

Comparing two means

Inference for a proportion of a population

Chapter 7[1]

Chapter 9 [2]

15. Data analysis for Two-Way Tables

Expected counts

The chi-square distributions

LAB. Chi-square tests & normality tests

Chapter 9[1]

Chapter 5 [2]

FINAL EXAM



(hour)

Total Workload

(hour)


42



Midterm Exam 1 3 3



Homework 3 6 18


Final Exam 1 3 3

Total Workload 177




BA PROGRAMS

SYLLABUS

Course unit title Bachelor's Thesis

Course unit code BW 4201





the course unit is delivered

8th semester


allocated

14


Time:


Contact:


course unit

Course Description:

The aim of the course is to develop the ability to conduct and report scientific

investigations by integrated and advanced independent work. The ability to make

scientific investigations includes the ability to discover possibilities, identify

problems, collect relevant information, formulate problems, and solve them with

the aid of scientific methods. To do this, many skills are required, such as

methodological knowledge, the ability to think in terms of models – making

conscious and explicit simplifications – and the ability to recognize and treat

problems from different perspectives. The ability to report scientific work means

being able to write lucid and interesting reports, as well as making oral

presentations. Both the work itself and how it is presented should be adapted to the

problem and the user.

Learning outcomes: After completion of the course the student should be able to:

• understand different science-theoretical and methodological starting-points

• independently and critically examine different theoretical and empirical

phenomena

• discover and handle problems and alternatives considering different perspectives

and methodological frames of reference

• execute, in practice, scientifically based surveys and investigations

• present arguments orally and in writing in an objective, interesting, and

convincing manner.



requisites

All compulsory courses of the programme

Permission from Supervisor and Director of BA Programs

Grading system: The grading scale comprises Fail, Pass, Pass with Distinction.

To obtain the Pass grade the student must fulfill all the learning outcomes.

To obtain Pass with Distinction the thesis should also be characterized by excellent

theoretical, methodological and analytical qualities.

Assessment: Students’performance in the course will be evaluated mainly on the basis of the

final thesis, but class participation and thesis defence are also taken into account. In

order to pass the Bachelor‘s Thesis course, students need to complete all

compulsory course elements and to hand in an approved thesis within the

prescribed time limit.

Choosing a Topic Students should begin thinking of possible thesis topics, or at least specific areas of

interest, preferably in the sixth semester. Ideally, the topic should be related to the

student’s area of specialization (guided electives in addition to the core required

coursework) and should also fit with the student’s intellectual interests and career

aspirations.

Thesis Supervisor and

Committee

Students should consult with appropriate professor or professors whose expertise

relates most closely to the proposed topic concerning the feasibility of the topic and

the willingness of the professor or professors to direct the thesis. The Director of

BA programs can assist in identifying potential thesis supervisors.

Thesis Proposal

Students submit a formal thesis proposal no later than the beginning of their third

semester. The proposal should explain the problem/issue to be addressed in the

thesis, identify preliminary research materials, specify the contribution the thesis is

intended to make, and provide a preliminary plan for research, writing, and other

activities.

The committee members should approve the proposal and make suggestions for

further research and writing as well as plans. A copy of the proposal will be

maintained in the student’s file.

Academic Integrity

The University takes cheating and plagiarism seriously, and disciplinary action will

be taken against any student suspected of being involved in any sort of cheating

and/or plagiarism. The disciplinary action takes the form of warnings or limited

suspensions.

Plagiarism is taking someone else’s work and passing it off as your own.

Plagiarism includes taking phrases, sentences, or paragraphs from someone else’s

writing and using them in your own writing without providing true attribution of

their source. Avoiding plagiarism, of course, does not mean neglecting to conduct

solid research. It is appropriate to read what scholars and experts have written

about an issue before you form your own conclusions about it. However, you must

ensure that you understand the literature. At a minimum, students should rephrase

the literature’s content, rather than quoting it verbatim. This practice also helps to

ensure student understanding of the issue, as you cannot write intelligently unless

you know your subject.

Another way to avoid plagiarism is to ensure that you utilize a large number of

sources, so that your knowledge goes beyond that of any particular book or article.

The internet now provides students with the opportunity to purchase term papers or

otherwise copy someone else’s work. Turning in any work that is not your own is a

violation of academic integrity.


Defense: Mandatory thesis defense will be open to all faculty from all institutions, some of

whom may participate via teleconferencing or other media. Students will briefly

present their work (15 minutes), followed by a question-and-answer session, during

which anyone in attendance may pose questions to the presenting team. Questions

may relate to the thesis or to general knowledge that should have been obtained in

the BA program. With the permission of the students, videotapes of the defenses

will be made, so that those unable to participate during the session may see the

results. All students must be present throughout the defense.

Plagiarism check All the theses are to be checked through TURMITIN Program

Week 1 (or earlier) Prepare work schedule.

Meet with supervisor and committee.

Begin technical work

Week 2-6 Complete technical work

Iteratively submit sections to supervisor for review

Week 7-10 Prepare thesis draft

Week 11-12 Revise thesis draft

Week 13 Initial defense

Week 14 Final defense

Week 15 Final revision

Week 16 Present thesis into archive

· AZERBAIJAN STATE OIL AND INDUSTRY UNIVERSITY / BA PROGRAMS SYLLABUS Course unit title English 1...

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