Strategic Plan | EPOKA University

Strategic Plan

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Faculty of Economics and Administrative Sciences › Department of Economics ›

Department of Economics

I. Introduction

Established in 2008, the department is engaged in equipping undergraduate and graduate students with critical thinking and preparing them to face public debates in interdisciplinary fields of study. Economics department offers the three cycles of study as Bachelors, Master’s and Doctorate (PhD) degree programs.

1. Mission: The mission of the Department of Economics consists of three interrelated components: 1. providing the highest quality instruction to our undergraduate and graduate students; 2. conducting leading-edge research in economics; 3. providing leadership and service to our professional communities.

2. Context: Based on the provision of the Law no. 80/2015 “On Higher Education and Scientific Research in Higher Education in the Republic of Albania” and in the framework of the conduct of the Institutional Review (Re-accreditation) of Epoka University as well as the beginning of the preliminary work on the drafting of the 2018-2022 Strategic Plan of Epoka University, Economics Department prepared its Strategic Plan for 2017-2022.

3. Vision: The Department of Economics aims at the qualification of new staff with general knowledge alert to the challenges in economy and able to work in the administration of local and foreign private companies.

4. Sources: This strategic plan foresees that the department will draw upon the human, financial, and material resources of the department and the University, investing in the improvement of its staff, and exploring grant funding and sponsorship for research and other activities.

5. Achievements from the last period: The Department of Economics has seen a number of achievements since its inception in 2008. The bachelor study program was accredited in 2011 and the Master of Science and PhD study programs in 2016. The number of students enrolled in the department has shown an increasing trend.

II. Priority Areas– Themes

The Economics Department provides an outstanding education to a great many students, consistently ranking the graduates in the top of the Epoka university ranking. At the same time, almost all the graduates from bachelor programs continue further master studies and a considerable number of them follow a master’s degree abroad Albania. Rapidly growing application numbers, rapidly growing market need for research, and good position of Epoka University in Albania all speak to the high standing that the department has with external constituencies. The department will need to take some further steps in the next five years to acquire the support it needs to build upon its top-tier status.

Specific goals for the Theme 1

Goal 1.1. Attract high-quality and diverse academic staff. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, F.3 Human Resources, G.20 Continue to attract qualified national and international staff.)

Goal 1.2. Increase the participation of academic staff in trainings in their areas of expertise. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, D Training & Lifelong learning, G.10 Life-long learning units expand the supply in training opportunities, G.11 Increase the visibility of the University)

Goal 1.3. Extend the global reach of the department by expanding international activities in teaching, learning, and research. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, F.3 Human Resources, G.5 Expand the international dimension of teaching & learning)

Goal 1.4. Continue providing leadership at the university level for investments in high-performance computing facilities, visualization and networks. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, F.8 Institutional Communication, G.38 Expand Epoka’s digital infrastructure to all other areas of management)

Goal 1.5. Ensure that our instructional technologies are modern and versatile, particularly when used in an active-learning environment or when used for distance and distributed learning. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, F.8 Institutional Communication, G.38 Expand Epoka’s digital infrastructure to all other areas of management)

Goal 1.6. Increase the productivity of our faculty and staff by making greater use of information technology. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, F.8 Institutional Communication, G.38 Expand Epoka’s digital infrastructure to all other areas of management)

Measures in order to reach mentioned goals under Theme 1.

Measure 1.1. Increase the faculty size by minimum two new members by 2022.

Measure 1.2. Achieve a 25% increase in the number of trainings received by the academic staff relevant to their areas of expertise.

Measure 1.3. Provide annual faculty development training sessions on active-learning teaching methods for faculty members and graduate teaching assistants.

Since 2009 the students’ enrolments for the Economics Department of Epoka University have substantially increased. Starting form 2013, the department has been involved in students’ exchange. In the 2013-2014 academic year the Department welcomed 2 incoming students, in 2014-2015 academic year the Department welcoed 3 incoming students, whereas in 2015-2016 academic year the Department welcomed 1 incoming student and sent 6 students abroad. Diversifying the class and creating additional opportunities for international experiences will remain priorities for the department.

Specific goals for the Theme 2

Goal 2.1. Increase by Undergraduate Student Enrollment and Success. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, A. Teaching & Learning, G.1 Improve quality of study programs by launching innovative and multi-disciplinary study programs)

Goal 2.2. Increase Retention and Graduation Rates for Undergraduate Students. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, A. Teaching & Learning, G.6 Increase student performance)

Goal 2.3. Increase Diversity. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, A. Teaching & Learning, G.5 Expand the international dimension of teaching & learning)

Goal 2.4. Equip our undergraduates with skills that will put them in high demand for internships. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, A. Teaching & Learning, G.2 Tailor programs to labor market demand, G. 3 Improve the curriculum, G.6 Increase student performance)

Measures in order to reach mentioned goals under Theme 2.

Measure 2.1. Open two new profiles under the department of economics.

Measure 2.2. Increase by 25% the number of B.S. degrees awarded

Measure 2.3. Increase by 10% the annual percentage of students involved in international experiences.

Measure 2.4. Increase by 50% the number of graduating students who have had a co-op or internship

Measure 2.5. Advisory meetings with interested students on graduate studies.

Since 2013 the department has recruited several graduate students, but the number has been low. To draw even with other highly ranked peers and to support a rapidly expanding research portfolio, the department needs to grow its graduate student population, particularly at the Ph.D. level. The department needs to greatly increase its resources for graduate teaching assistantships. As for its undergraduate students, diversifying the graduate student population and creating additional opportunities for international experiences are priorities.

Specific goals for the Theme 3

Goal 3.1. Increase Graduate Student Enrollment and Success. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, A. Teaching & Learning, G.6 Increase student performance; F.3 Human resources, G.20 Continue to attract qualified national and international staff)

Goal 3.2. Increase Retention and Graduation Rates for Graduate Students. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, A. Teaching & Learning, G.6 Increase student performance; E. Student Development G. 13 Increase the quality of student outreach and development programs)

Goal 3.3. Offer research opportunities that feature applications to critical national needs, cross-disciplinary knowledge and global economic skills. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, F.6 Community and Social Involvement G.29 Increase involvement in the region; F.7 International Networking and mobility, G.33 Continue to broaden and deepen its network of partners)

Goal 3.4. Increase our competitiveness for domestic graduate students. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators A. Teaching & Learning, G.6 Increase student performance; E. Student Development G. 13 Increase the quality of student outreach and development programs)

Goal 3.5. Seek more externally funded fellowships for our graduate students. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, F.7 International Networking and mobility, G.33 Continue to broaden and deepen its network of partners, G.34 Increase faculty involvement in international and national projects)

Measures in order to reach mentioned goals under Theme 3.

Measure 3.1. Increase by 10% recruits from other universities, state and regional public administration, and international institutions.

Measure 3.2. Increase the number of prospective graduate students that visit the open days on campus.

Measure 3.3. Increase by 10% funding available to support students as research assistants.

Measure 3.4. Refine once in two years the content and presentation of the graduate program to help with recruiting.

Even though the PhD students’ enrolment in the Economics Department started in 2012-2013, their numbers over the years have been modest. In the last year the University offered PhD students funding opportunities for their research. In the next five years we should do more to attract students and researchers. The department will, unquestionably, be a major contributor to the university's goal of making advancement in the field of economics and increasing the number of projects, conference participations and research publications.

Specific goals for the Theme 4

Goal 4.1. Engage in interdisciplinary research, especially through the other departments and research centers of Epoka University. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, A. Teaching & Learning, G.6 Increase student performance; B. Research and Project, G.8 Intensify the engagement of the research centers and emphasize their research profile; E. Student Development G. 13 Increase the quality of student outreach and development programs)

Goal 4.2. Engage in multi-organizational and multi-national research. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, B. Research and Project G.7 Increase the quality and quantity of research and project development, G.8 Intensify the engagement of the research centers and emphasize their research profile)

Goal 4.3. Encourage faculty, staff and students to be active in their professional communities. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, B. Research and Project G.7 Increase the quality and quantity of research and project development, G.8 Intensify the engagement of the research centers and emphasize their research profile; C. Community service G.9.1 Epoka University will offer services in those areas that the university has demonstrated expert knowledge, G.9.2 Students at Epoka are civically engaged and aware of the problems of their community)

Goal 4.4. Encourage faculty, staff and students to share the results of their scholarship with a broad audience. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, F.7 International Networking and mobility, G.33 Continue to broaden and deepen its network of partners, G.34 Increase faculty involvement in international and national projects)

Measures in order to reach mentioned goals under Theme 4.

Measure 4.1. Include service activities in merit, tenure, promotion and other evaluation deliberations at the department level.

Measure 4.2. Increase by 10% funding opportunities for new and current activities.

Measure 4.3. Continue to provide departmental support for research and creative activities.

Measure 4.4. Increase by 25% common publications and presentations with PhD students.

Measure 4.5. Maintain the strength and breadth of disciplines in the department by recruiting strong faculty in targeted areas of economics.

The academic staff of the Economics Department has shown a good performance in conference participations, paper publications and other academic activities. There are numerous published papers and research activities by a collaboration of academic staff and the students from the three cycles of study. However, the department needs to make some efforts to support the staff to increase the research productivity and to encourage faculty publication in highly ranked journals.

Specific goals for the Theme 5

Goal 5.1. Encourage and support faculty to increase research productivity and quality. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, F.7 International Networking and mobility, G.33 Continue to broaden and deepen its network of partners, G.34 Increase faculty involvement in international and national projects)

Goal 5.2. Attract and retain quality faculty and strengthen the reputation of the department. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, F. 5 Quality Assurance, G. 24 Ensure an efficient and effective provision of highest quality in teaching and research)

Goal 5.3. Incorporate the three main pillars, teaching, research and contribution to society by increasing the social activities that include academia, businesses/NGOs and governmental bodies. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, F.7 International Networking and mobility, G.33 Continue to broaden and deepen its network of partners, G.34 Increase faculty involvement in international and national projects; F.8 Institutional Communication, G.36 Be in continuous communication with the public)

Goal 5.4. Orient thesis topics/research topics toward the concrete needs and gaps in the Albanian market and beyond. (Reference to Epoka University Framework Strategy 2018-2022, Action Plan and Indicators, F.6 Community and Social Involvement G.29 Increase involvement in the region)

Measures in order to reach mentioned goals under Theme 5.

Measure 5.1. Recruit PhD qualified faculty and faculty holding academic titles such as “Assoc. Prof. Dr.” or “Prof. Dr.”.

Measure 5.2. Reduce teaching loads by 25% for faculty with high levels of research productivity and graduate student direction.

Measure 5.3. Develop and implement faculty professional development plans for faculty with low research productivity.

Measure 5.4. Increase by 10% faculty participation in research institutes.

Measure 5.5. Increase by 25% faculty participation in multidisciplinary and interdisciplinary activities.

Measure 5.6. Continue to support travel to professional meetings and conferences.

Measure 5.7. Increase by 25% the number of agreements with different economic actors such as governmental institutions, businesses, etc.