Global Entrepreneurship, Economics and Management in Timisoara
The main aim of the Master is to deliver theoretical and technical knowledge in economics and business research with analytical and quantitative tools, integrating theoretical knowledge with its application to real economic problems.
Field of study
The university study cycle
Accreditation status
Form of education
Language of instruction
- 2 Years / Onsite
- Intakes: Jul, Sept
Overview
Taught completely in English, it offers fields of specializations in areas of Entrepreneurship & Business (with emphasis of innovation) as well as Applied economics.
The specialized and multi-disciplinary nature of innovation process within the area of finance and management demands skills that are essentially based on statistical, mathematical and financial knowledge, but that also require a good understanding of accountancy, economics and the law.
The objectives and the profile of competencies developed in accordance with the needs identified on the labor market and with the national qualifications framework are summarized below and in detail in the subject sheets of the curriculum.
One day in class, your professor might show a social media post from a politician or celebrity. You and your classmates analyze, critique, and discuss that post from different angles, such as its medium, its message, its meanings both expressed and implied, the credibility of the messenger, and the cultural impact of the message. Then you write your own social-media post in response.
Career Opportunities
- process improvement specialist
- industrial strategy specialist
- innovation manager
- process improvement manager
- specialist in planning, control and reporting of economic performance
Program Learning Outcomes
a) Knowledge:
• designing, applying, testing and validating quantitative and qualitative models specific to the research carried out in the fields of economics and business administration;
• knowledge of the conceptual foundation and factual support mechanisms for the creation and development of an economy based on innovation and entrepreneurial spirit;
• deepening and understanding the concepts, theories, methods and tools used in the innovation economy;
• understanding the nature, institutional aspects, mechanisms, role and importance of innovation processes;
• understanding and using mechanisms specific to industrial organizations;
• acquisition of advanced knowledge regarding the existing processes, mechanisms and structures both at microeconomic and macroeconomic level, which characterize contemporary economies.
b) Skills:
• the practice of using methods and techniques specific to the application of medium and advanced level econometric instruments;
• developing the capacity for critical and constructive reflection on the social and ethical consequences of innovative activities and the rigorous, efficient and responsible improvement of work strategies in complex economic-social environments and in conditions of significant decision-making autonomy;
• developing the capacity, skills and knowledge necessary for self-involvement in innovative processes;
• the assimilation of the methods of analysis of the institutional framework and the socioeconomic transformation processes that are specific to “post-industrial” societies, as well as the existing connections between them and the mechanisms specific to various types of markets;
• the assimilation of the methods of studying the factors subsequent to the processes of sustainable economic growth as well as the public policies-support for them;
• the assimilation of specific research techniques and methods for “spatial economy” and “regional development”;
• mastering the techniques and methods specific to research in the field of social networks;
• acquiring the specific tools that facilitate the operationalization of research involving big data.
c) Responsibility and autonomy:
• applying the principles and rules of an ethical nature involved in the conduct of the research activity;
• coordination and implementation of advanced economic growth policies in economic environments characterized by turbulence and uncertainty;
• the responsible configuration of a system for evaluating the impact of innovation on dynamic economic systems;
• responsible and autonomous application of principles, rules and mechanisms specific to organizational performance;
• adapting the rules for the elaboration of scientific works to the standards required by accessing the flow of scientific publications existing internationally.
Admission process calendar
- Registration period: Until July 17, 14:00
- Date of display of preliminary results: July 18, 17:00
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Date of taking the language skills test – July: 19-22 July
- Deadline for certification of documents according to the original – July: July 22, 16:00
- Date of results listing: July 23, 2024, 16:00
- Filing appeals period: July 23, 16:00 – July 24, 16:00 (online at the email address admitere.feaa@e-uvt.ro)
- Date of display of results after appeals: July 24, 23:00
- Seats confirmation period: July 24 – 26, 12:00
- Listing results after confirmations: July 26, 23:00
- Listing results after confirmations: July 26, 23:00
- Seats confirmation period (second stage of confirmations): until July 27, 15:00
- Date of display of results after confirmations (second stage): July 27, 19:00
- Final results listing: July 27, 23:00
- Date of the admission test (s) (day, hour): 19-22 July
Schedule of the admission process for the September session (valid if seats remain available after the first admission session)
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September registration period: Until September 09, 14:00
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Date of posting of candidates registered in September: September 09, 20:00
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Date of taking the admission test (s) September: 10 September
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Deadline for certification of documents according to the original – September: September 10, 16:00
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September results listing: September 11, 21:00
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Appeals period: September 11, 21:00 – September 12, 21:00(online at the email address admitere.feaa@e-uvt.ro)
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Display of results after September appeals: September 12, 22:00
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September place confirmation period: September 12 – 14, 14:00
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September final results listing: September 14, 23:00
Framing the study program in fields of science
The fundamental field: Social Sciences
The branch of science: Economics
Wide domain according to the international classification ISCED F-2013: 04 Business, administration and law
Restricted domain according to the international classification ISCED F-2013: 041 Business and administration
Detailed field according to the international classification ISCED F-2013: 0413 Management and administration
Location
Timisoara, Romania
Qualification details
The name of the qualification acquired through the study program: Global entrepreneurship, economics and management
Qualification level format *: 7
Awarded title: Master in Management
Program details
Duration of the study program: 2 years
Number of credits **:120
Maximum number of students that can be enrolled: 30
Seats financed from the state budget: 12
Paid places: 18
Annual tuition fee:
EU students 4000 lei (€804)
Non-EU students €1980
Contact us
Strada Florimund Mercy nr 2, ap 12, Timisoara, Romania
Description of the exam test (s)
(1) Admission to master’s degree studies at the Faculty of Economics and Business Administration is carried out according to this regulation based on the online admission test marked with ADMIS/RESPINS and the dossier competition, by fields and programs studies. Knowledge specific to the field of study is verified through written and/or oral tests based on a bibliography containing specialized works or a topic that will be displayed on the own web page (www.startfeaa.ro) / UVT admission platform.
(2) For university master’s study programs organized in a foreign language, respectively International Corporate Finance (in English), Management of business organizations (in English), Business management in European contexts (In French), Global Entrepreneurship, Economics and Management (in English), the admission process also contains a language proficiency test that will follow the verification of general knowledge of communication in the respective language, eliminatory, conducted online, with the help of electronic means that ensure direct audio and video communication with the candidate in the admission process , marked with accepted/rejected. Possession of internationally recognized diplomas/certificates, such as:
CAE – Cambridge Certificate in Advanced English;
IELTS – International English Language Testing System;
TOEFL – Test of English as a Foreign Language;
DALF – Advanced Diplomas of the Langue Française,
is equivalent to taking and passing the language skills test for candidates enrolled in university master’s study programs in foreign languages. Candidates from countries where the official language is English or French or those who have followed an undergraduate university study program in English or French are considered admitted to the language proficiency test for admission to the university master’s study program in that language . Candidates declared rejected in the language skills test remain registered for the admission competition to the master’s degree university study programs in Romanian, according to the options selected during registration.
(3) The incentive of excellence is awarded (without the MA being able to exceed 10) for prizes obtained at national AFER Olympics or at national and international student competitions / competitions (including the FEAA student scientific communication competition), but also for articles published in journals. indexed in international databases or in international conference volumes.
(4) The classification of the candidates is made in the descending order of the averages obtained at the admission competition and within the limits of the places approved for each university study program.
(5) The general average or the general scores obtained by the candidates in the admission competition are valid for the establishment of the classification order only within the Faculty of Economics and Business Administration, according to the present regulation.
(6) The order of classification resulting from the admission competition will also be used for the allocation of places financed by study grants, which will go to the best ranked eligible candidates for each master’s university study program.
(7) In the case of equal environments, the division shall be made according to the following criteria, in order:
1 – the general average of the years of undergraduate university studies;
2 – the average from Test 1 for the evaluation of the fundamental and specialized knowledge within the bachelor’s exam.
List of required documents
- ID card;
- Birth certificate – for UVT graduates of undergraduate university studies from the current year, the document is not mandatory, it can be taken from the existing file for the cycle of university undergraduate studies;
- Marriage certificate – if appropriate;
- Bachelor’s degree or diploma equivalent to it, accompanied by the supplement to the diploma, or certificate of completion of undergraduate university studies, accompanied by the transcript, for candidates who graduated from undergraduate university studies in the current year; UVT graduates of undergraduate studies in the current year do not need to upload the certificate of completion of undergraduate studies and the transcript on the admission platform in order to apply for master’s studies in the same year, the results of the final examination of undergraduate studies , respectively the average of the years of undergraduate university studies, being taken over in the candidate’s file directly by the admission committees of the UVT faculties;
- Medical certificate issued by the family doctor, not older than 90 days from the date of its presentation at the document collection office, certifying whether the candidate is fit to enroll in university studies and, if applicable, the conditions chronic conditions suffered by the candidate (neuropsychiatric, psycho-pathological, pulmonary, dermato-venereal, disability (type, degree), etc.). Specific learning disorders (dyslexia, dysgraphia, dyscalculia, etc.) or any special educational requirements will be attested by a diagnostic certificate;
- Certificate certifying completion of another master’s university study program (completed or not at the time of submission of the file), in which the funding regime in which each year of studies was completed (with funding from the state budget/with a fee) , if it is/was carried out at a state higher education institution in Romania) and, if applicable, the years and semesters of studies in which the student benefited from the scholarship, respectively its type – if appropriate.
Global Entrepreneurship, Economics, and Management
In an era of rapid globalization, entrepreneurship, economics, and management have become the cornerstones of modern business. These interconnected disciplines shape the way organizations and economies function, evolve, and thrive in a competitive global landscape. By fostering innovation, understanding market dynamics, and implementing efficient strategies, individuals and organizations can harness these fields to achieve sustainable growth and create meaningful impact.
Entrepreneurship: Driving Global Innovation
Entrepreneurship is the engine of economic development and innovation. It represents the process of identifying opportunities, taking risks, and creating value through new ventures. Global entrepreneurship, in particular, plays a pivotal role in addressing worldwide challenges by introducing innovative solutions.
Key Characteristics of Global Entrepreneurs
- Vision and Innovation: Entrepreneurs often identify unmet needs and innovate solutions that transcend borders.
- Adaptability: Operating in global markets requires understanding diverse cultures, regulations, and consumer behaviors.
- Networking: Building international partnerships and alliances is essential for expanding market reach.
Impact on the Global Economy
- Job Creation: Startups and small businesses generate significant employment opportunities worldwide.
- Technological Advancements: Entrepreneurs drive innovation in industries such as technology, healthcare, and green energy.
- Economic Resilience: Diverse entrepreneurial ecosystems contribute to the economic stability of nations.
Programs like the Global Entrepreneurship Monitor (GEM) and initiatives such as startup incubators help aspiring entrepreneurs gain the skills and resources needed to succeed in the international arena.
Economics: Understanding Market Dynamics
Economics, the study of how societies allocate resources, provides the foundation for understanding global markets. With the interconnected nature of today’s economies, knowledge of international trade, finance, and policy is crucial for effective decision-making.
Global Economic Trends
- Globalization: The increasing interdependence of markets has amplified cross-border trade and investment.
- Digital Economy: Advancements in technology have transformed how businesses operate and compete.
- Sustainability: Economic policies now prioritize sustainable growth to address climate change and resource scarcity.
Economic Principles in Global Business
- Supply and Demand: Understanding these fundamentals helps businesses anticipate market changes.
- Comparative Advantage: Countries specialize in producing goods where they have a competitive edge, facilitating international trade.
- Monetary Policies: Exchange rates, interest rates, and inflation significantly affect global business operations.
By mastering economic principles, businesses can navigate complexities such as trade regulations, currency fluctuations, and economic crises, ensuring stability and growth.
Management: Orchestrating Success in a Global Context
Management is the art and science of organizing resources, guiding teams, and achieving organizational goals. In a globalized world, effective management requires cultural sensitivity, strategic planning, and the ability to adapt to dynamic environments.
Key Areas of Global Management
- Strategic Management: Setting long-term goals and aligning resources to achieve them.
- Cross-Cultural Leadership: Managing diverse teams across different cultural contexts.
- Operations Management: Streamlining processes to improve efficiency and productivity.
Challenges in Global Management
- Cultural Differences: Understanding cultural norms and values is essential to avoid miscommunication and foster collaboration.
- Regulatory Compliance: Navigating different legal systems and trade regulations requires specialized knowledge.
- Technological Integration: Adopting the latest technologies is crucial to stay competitive in global markets.
Innovations in Management Practices
- Agile Methodologies: Emphasizing flexibility and responsiveness to market changes.
- Sustainability-Focused Management: Incorporating environmental and social governance (ESG) criteria into decision-making.
- Data-Driven Decision Making: Leveraging analytics and artificial intelligence to optimize strategies.
With these practices, managers can lead organizations to adapt and thrive in an ever-evolving global marketplace.
The Synergy Between Entrepreneurship, Economics, and Management
Entrepreneurship, economics, and management are interdependent fields that collectively drive global progress. Entrepreneurs rely on economic insights to identify market opportunities, while management provides the framework to execute ideas effectively. Together, they form a cycle of innovation, implementation, and growth.
For instance:
- Economic Insights Fuel Entrepreneurship: Understanding market trends helps entrepreneurs identify gaps and innovate solutions.
- Entrepreneurship Drives Economic Growth: New businesses contribute to GDP growth, job creation, and technological advancements.
- Management Ensures Sustained Success: Effective management practices maintain organizational stability and scalability.
Global Case Studies
- Silicon Valley, USA:
A hub for global entrepreneurship, Silicon Valley exemplifies how innovation, supported by sound economic policies and effective management, can transform an entire region into an economic powerhouse. - Germany’s Mittelstand:
These small and medium-sized enterprises demonstrate the value of long-term management strategies and specialization, making Germany a leader in global trade and manufacturing. - Singapore’s Economic Miracle:
Through strategic economic planning and fostering a business-friendly environment, Singapore has become a global hub for finance and innovation.
Preparing for the Future
As globalization accelerates, professionals in entrepreneurship, economics, and management must equip themselves with the skills to navigate complex global challenges.
Key Skills for Success
- Analytical Thinking: To interpret economic data and anticipate market trends.
- Cultural Competence: To collaborate effectively in diverse teams.
- Innovative Mindset: To identify opportunities and create impactful solutions.
- Leadership Abilities: To inspire and guide teams toward achieving goals.
Educational Opportunities
Programs focusing on international business, global management, and entrepreneurial studies provide a strong foundation for aspiring professionals. Many universities also offer exchange programs, internships, and industry collaborations to provide real-world exposure.
Why Choose UVT and GlobalStudent?
For international students, GlobalStudent is the ideal partner to navigate the challenges of studying abroad. From visa assistance to part-time job placement, GlobalStudent ensures that students can focus on their studies and make the most of their time at UVT.
Conclusion
How to Apply?
- You Apply
Tell us a little about yourself and we’ll help with the rest. Our convenient online application tool only takes 10 minutes to complete.
- We Connect
After you submit your application, an admissions representative will contact you and will help you to complete the process.
- You Get Ready
Once you’ve completed your application and connected with an admissions representative, you’re ready to create your schedule.