Course Title

Investment Management

Code

МЕ 519

Professor

Prof.Sasho Arsov, PhD (Full Professor)

Course objectives (competencies): Upon completion of the course students should be able to: 

• To gain a broader knowledge of the economic theories of investments and their relation to monetary aggregates, savings and development 
• To study the methodological instruments for preparation of analysis of the sources of investments and preparation of investment balance sheets 
• To be able to prepare macroeconomic analyzes and investment projects
•  To acquire theoretical and methodological knowledge for assessing the economic efficiency of investment projects.

Course content: 

1. Investments as an analytical economic theory – analytical value in the macroeconomic analysis of development. Investments as a methodological toolkit in economic analysis.
2. Motives and determinants of investing. Theories of volume and dynamics of investment (classical theory, accelerator theory, theories of rational expectations, Tobin’s theory, motives for investing in managerial theories).
3. Investment and growth – investment functions.
4. Sources of investment financing (basic and additional domestic and foreign, optimization of the cost of invested funds).
5. Foreign direct investment – modern processes, determinants, development effects and policies.
6. Investment balance, capital account, balance of the international investment position of the country.
7. Assessment of the economic effectiveness of investments. Capital ratios – methodological and application aspects.
8. Benefit-Cost analysis when evaluating projects of wider social significance (development, infrastructure and public sector projects).
9. Country risk and investment climate.