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Assist. Prof. Dr. Daniela Pastarmadzhieva


The purpose of the course is to give students knowledge about the relation between the political participation of citizens and the stability in the state. The societies are becoming more and more divided and the democracy ensures the opportunity of participation of each person and each social group. Sometimes their demands oppose to one another which may lead to political instability. In this sense this course reviews the role of citizens in a democratic political system and how their participation may affect the stability of the system. PhD students will be acquainted with the factors which determine the political stability of a democratic country. The concepts of political culture will be reviewed and the different views on how it should be studied. Students will be acquainted with the role of the historical background on the current participation of the citizens and the impact of the political knowledge, political competence and the values of societies.


Main topics

1. Democracy and the participation of citizens

2. Factors of political stability

3. The concept of political culture

4. Fragmentation of societies – subcultures and/or cleavages

5. Historical background and civic participation

6. Political knowledge and political competence

7. Political values of the societies




Prof. Dr. Hab. Marta Sugareva

The purpose of the course is to outline the main trends and specific features of the population reproduction in the European countries after World War II. The populations of Europe have experienced different paths of their political and socio-economic development, and this have influenced also their demographic developments. The accent of the course is on the East-West differences. The trends of fertility, mortality, migrations, and the changes in family forms and behaviors will be overviewed and discussed. The recent demographic situation and trends in Europe will be analyzed in the light of specific historical background of the countries, and the most acute problems and policies will be outlined and discussed in the course.


Main topics

1.     Population dynamics as the result of natural growth and international migrations

2.     Trends of fertility in Europe

3.     Trends of mortality in Europe

4.     Demographic ageing. Typology of the countries by the level of demographic ageing.

5.     Family transformations. Second Demographic Transition in Europe.

6.     Modelling the demographic future. Demographic Projections.

7.     The role of policy in the demographic processes.




Assoc. prof. Stanimir Kabaivanov, PhD

The purpose of this course is to present new ways of addressing a wide range of corporate finance research problems which include complex real options. Covered topics are not limited to typical cases but also include more complex scenarios that require decomposition of the available options. Monte Carlo simulations are discussed not only as a powerful valuation method but also as a standalone risk assessment approach.


Main topics

1.     Introduction to real options and the importance of flexibility.

2.     Analytic solutions for typical real option types.

3.     Advanced option types – properties and valuation methods.

4.     Use of exotic option types in real options analysis.

5.     Introduction to Monte Carlo and mathematics behind it.

6.     Simulation approach for derivative pricing and risk assessment.

7.     Specific issues with Monte Carlo methods – estimation and callibration.

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