Jasna Tonovska was born on 25 February 1989 in Skopje. She is an Assistant Professor at the Department of Foreign Trade at the Faculty of Economics – Skopje, Ss. Cyril and Methodius University, where she has been employed since January 2021 and appointed to her current position in April 2026.

She completed her entire university education at the Faculty of Economics – Skopje. She graduated from the Financial Management programme with a GPA of 9.84, as the third-best student of her generation and recipient of the award for best undergraduate thesis. She obtained her Master’s degree in Monetary Economics, Finance and Banking with a thesis on the effects and challenges of the euro for the Macedonian economy. She completed both her Master’s and doctoral studies with a GPA of 10.

Prior to her academic career, she spent eight years at the National Bank of the Republic of North Macedonia – External Sector Division – where she directly participated in the preparation of regular balance of payments projections, analysis of the international investment position, assessment of external debt sustainability, and monitoring of the real effective exchange rate. In parallel, she pursued advanced training at the International Monetary Fund, the Banque de France, the Swiss National Bank and the Joint Vienna Institute, in the areas of international capital flow management, external vulnerabilities and macroeconomic diagnostics.

She obtained her doctorate in April 2025 with the dissertation “Volatile International Capital Flows: Drivers, Effects and Policies” – a study analysing the determinants, macroeconomic effects and policy responses to the volatility of international capital flows. The empirical analysis was conducted on a broad international sample of advanced and developing economies, applying advanced econometric techniques and introducing an analytical framework that integrates determinants related to digital and financial infrastructure.

The National Bank of the Republic of North Macedonia awarded her the first prize in the Annual Young Researchers Award for 2025 in the field of macroeconomics and banking, for the paper “The Volatility of International Financial Flows: Implications for the Macedonian Economy.”

She is the author of over 30 scientific papers, including publications in journals indexed in Web of Science, Scopus and EBSCO. She is a regular participant at international conferences and recipient of the Best Paper Award at EMAN 2022. She is an active member of the international research project USE IPM (Horizon WIDERA 2022). In 2022, she was awarded the Go Styria scholarship for a one-month research stay at the University of Graz.

At the Faculty of Economics, she introduced and teaches the course Transnational Companies and the Global Economy at the International Trade department.

Her research and teaching interests lie in the field of contemporary international economics – transnational companies, global value chains, and digital trade.