Institute of Economics

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    Theoretical approach of macroeconomic policy measures for solving economic consequences of covid-19
    (Institute of Economics - Skopje, 2020-06)
    Djambaska, Elizabeta
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    COVID-19 is a virus that cause health problems to the population and spread very fast in the world as a pandemic. At the same time when the health and human lives are affected, economy is also impacted by an outbreak. The primary effect of the corona crisis, that defers it from some previous ones, is that the initial economic shocks occur simultaneously on supply and demand side. The shocks initially are caused by the state measures taken for the virus spreading i.e. the state decree for restrict or prohibit human movement, tourist travel, the work of business entities in some activities was completely reduced, in others significantly limited. Hence, one of the first sectors impacted by an outbreak is the public and private health system, then tourism, trade, transport, agriculture, constructions and industry. Indirectly and in very short time the functioning of the whole economy is threatened. The main question is, are the government interventions in the economy necessary and which measures are appropriate to manage the economic consequences from the pandemic. This paper discusses about the theoretical approach of the macroeconomic measures that government can use on both supply and demand side in the economy, for solving the imbalance. Important part of the paper is the short review of some ongoing macroeconomic policy measures in the EU countries and in North Macedonia, as an active response to the pandemic effects.
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    Barriers to employee skills development: Comparative analysis of firms in North Macedonia
    (Institute of Economics - Skopje, 2021-12)
    Piperkova, Irina
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    Djambaska, Elizabeta
    The 21st century race for talents has positioned skills development and utilization as one of businesses’ primary concerns. Indeed, firms’ sustainability in today’s turbulent and competitive environment depends, among other, on the skillsets of their employees. Businesses face various obstacles in their quest for acquiring and developing adequate employee skills. The main aim of this paper is to present key obstacles to developing employee skills in firms in North Macedonia, based on organizational size and business activity. An insight into the barriers to employee skills development would help firms implement corrective measures to achieve appropriate employee skill development and utilization. Lack of applicants’ adequate skills in the recruitment process, lack of employees’ motivation to upgrade their skills and insufficient employee training are perceived as one of the most significant barriers to employee skills development.
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    Selecting appropriate forecast method on the basic of forecast accuracy-pharmaceutical company case study
    (Economic Development, Journal of the Institute of Economics – Skopje, 2018-06)
    Micajkova, Vesna
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    Georgieva Svrtinov, Vesna
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    Esmerova, Emanuela
    Forecasting is an essential discipline in planning and running a business. Companies make forecast regarding sales, production cost and financial requirement of the business. Sales forecast is the most important since it is a foundation of all other forecasts. Companies’ success depends, to a large extent, on the accuracy of this forecast. Therefore using the most appropriate forecast method is very important. The purpose of this paper is to provide an overview of three sales time-series forecasting methods: moving average, exponential smoothing and regression analysis and to present an approach for the most appropriate forecast method selection. The methods are presented using data of Alkaloid AD Skopje sales revenue for time period from 2001 to 2015. The most appropriate forecast method was determined on the basis of forecast accuracy which was measured through: Mean Absolute Deviation (MAD), Mean Absolute Percentage Error (MAPE) and Mean Square Error (MSE).
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    Importance of the agricultural sector for the economic development of the Republic of North Macedonia
    (Institute of Economics-Skopje, University "Ss. Cyril and Methodius", Republic of North Macedonia, 2019-07-03)
    Djambaska, Elizabeta
    ;
    This paper analyse the role and importance of the agricultural sector for the economic development of the Republic of North Macedonia. The focus of the research is on the indicators that present the agricultural sector as real GDP and gross added value in the agricultural sector in the Republic of North Macedonia, for the period from 2000 to 2016. General conclusion is that GDP growth in the Republic of North Macedonia in the analysed period arise from the household production and gross investment. Also, agriculture is one of the four dominant sectors beside trade, industry and construction that contribute to economic growth in the Republic of North Macedonia. The share of the agriculture, forestry and fishing sector in the real GDP in the Republic of North Macedonia is around 13%. The largest contribution from agriculture to the GDP of the Republic of North Macedonia arise from the Southeast, Pelagonia and Polog region. Therefore, measures and activities for stimulating economic growth should mostly be directed towards these regions. The relative share of the gross value added of agricultural production in the Republic of North Macedonia is around 10% of GDP and it considered to be important sector for economic development.
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    Provision of public goods and services in the Republic of Macedonia
    (Institute of Economics-Skopje, University “Ss. Cyril and Methodius”, Republic of Macedonia, 2018-12-20)
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    Djambaska, Elizabeta
    The paper reviews the process of providing public goods and services in the Republic of Macedonia. Considering the theoretical knowledge about this process, the article focuses on the principles for provision of public goods and services and the quantitative and qualitative indicators which measure the effectiveness and efficiency. They are all part of the Principles of Public Administration adopted in the European Union. The results of the research show that the public administration in the Republic of Macedonia is in a continuous process of reforms. These reforms tend to increase the efficiency in provision of public goods and services. Many researches conducted in the country has confirmed that there is an evident need for further improvement of this process and that it should be made in accordance with the citizens’ needs. The paper also observes some general recommendations and measures for better provision of public goods and services and for more efficient quality control of services.