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Length of study: 2 semesters

Form of study: part-time

For specialists and non-specialists

Director: Assoc. Prof. Marina Stefanova, PhD, mstefanova@feb.uni-sofia.bg, office 201


Tuition fees in Sofia University for the academic 2023 / 2024 year


Application requirements: Bachelor's or master's degree. Bachelors with specialties other than fields 3.8. Economy and 3.7. Business Administration, will study six additional economic disciplines for the acquisition of a Master's degree within Responsible and Sustainable Governance.

For admission to the programme, all candidates shall pass an oral interview. The final score is formed by the average grade from the diploma, the grade from the state exam (defense of the thesis) and the grade from the interview.

For additional inquiries, you can contact the head of the master programme "Responsible and Sustainable Governance" Assoc. Prof. Marina Stefanova, PhD, e-mail: mstefanova@feb.uni-sofia.bg


Important! The lectures on special subjects are held modularly - a total of 3 weeks in the winter semester and 2 weeks in the summer semester, from Monday to Friday, from 09:00 to 18:15 (one week in October, December, January, March and May) .



As a member in various prestigious organizations, the Faculty of Economics and Business Administration collaborates at national and international level to support the education and professional realization of the students from the master's program "Responsible and Sustainable Governance".



UNGC (UN Global Compact) and the Global Compact Network Bulgaria

The UN Global Compact is a platform for knowledge exchange and dialogue with the active participation and support of companies, specialized UN organizations, business associations, non-governmental and trade union organizations to promote corporate social responsibility and ethical business standards.

Through their commitment to universally accepted values ​​and by minimizing the negative effects of their economic activities, organizations can contribute to making globalization a positive force for achieving the UN Sustainable Development Goals.

Profile of Sofia University "St. Kliment Ohridski” on the UNGC website



PRME - Principles of Responsible Management Education

Principles for Responsible Management Education (PRME) is a UN-supported initiative established in 2007 as a platform to increase the sustainability profile of universities around the world and to provide business students with the understanding and ability to make a difference for the future. With over 650 participants worldwide, PRME has become the largest organized initiative of the United Nations and academia worldwide teaching business disciplines.

Profile of the Faculty of Economics and Business Administration in PRME



United Nations Sustainable Development Solutions Network

The International Network for Sustainable Development Solutions is a global UN initiative that brings together a diverse group of international leaders in science, business, politics and civil society. The SDSN Black Sea Regional Working Group, to which Sofia University also belongs, has committed universities and research centers to work together for the common good of the people of the countries around the Black Sea to achieve the UN Sustainable Development Goals.


More about the Master Programme:

In recent years, the concept of sustainable development has been at the heart of international development and explicitly pronounced as a global Agenda for the period 2015-2030 by the United Nations within the Sustainable Development Goals. In addition, the European Green Deal drew the roadmap for sustainability of the EU economy. Since then, business plays an active role in the overall social transformation and it includes planning, implementation and reporting of activities and projects based on the three pillars of sustainable development - economic growth, social welfare and environmental protection.

This new paradigm is reflected in every manifestation of the public, corporate and public sectors and envisages large-scale in size, horizon and effect reforms and investments in all sectors of the economy. These changes require a new young generation of well-trained professionals and managers. For a number of reasons, there are not enough functioning centers in the country, nor a history or ambition in the formal education of such specialists.

The Master's programme "Responsible and Sustainable Governance" aims to fill this extremely important niche and to take leader’s academic, research and business positions in it. Its creation is in accordance with the policy and strategy of the Faculty of Economics and Business Administration at Sofia University "St. Kliment Ohridski” for bringing the master's programmes closer to the practice and servicing its needs by well-trained specialists.

In particular, the Programme aims to prepare an entirely new specialists in sustainable business development, corporate social responsibility and their realization within the Bulgarian public, business and civil sectors.



The Master's program "Responsible and Sustainable Governance" is implemented with the active assistance and provision of guest lectures by leading experts among the members of the Global Compact Network Bulgaria, the Bulgarian Association of CSR Specialists, the Bulgarian Stock Exchange and the Association of Investor Relations Directors in Bulgaria. Leading responsible companies from all industries support it.

UniCredit Bulbank is an official partner of the program.




The Master Programme builds on the bachelor's degree in specialties from all professional fields. It is structured in a way that allows high quality training at master's level. Its design ensures coverage of all major application of sustainable development in the practice - business modeling, corporate compliance, management of natural and human capital, investment and reporting on social progress.

The Programme starts with two introductory courses on sustainable development, which cover topics for sustainability and sustainability management at the level of public and corporate sector. Some of the key courses are dedicated to sustainable leadership, social and environmental entrepreneurship, sustainable finance. Courses with a strong practical orientation such as corporate compliance and public-private partnership, responsible communications, systems and standards for corporate social responsibility management are also available.

Last but not least, students can choose from specialized courses related to topics such as social change and impact management, modern tools for operational business management, and more.

In addition to exams as a traditional approach to assessing student progress, the educational process also foresees solving practical problems, incl. within structured assignments, practical work on a personal project, as well as participation in the preparation of critical analyzes on specific company assignments.



In the theoretical and applied aspect:

  • Know the technology for design of state sustainable development policy, strategies and programs and to promote the implementation of the concept of sustainable development at national, sectoral, municipal and corporate level.
  • Know the legal and regulatory framework of responsible management in Bulgaria, Europe and the world.
  • Have knowledge about the place of sustainable development, balanced management of human, natural and financial capital, incl. and non-financial reporting.
  • Know the context and frameworks of sustainable development, investment, production and consumption.
  • Have knowledge of the processes related to the transformation of business models, new concepts such as circular and solidarity economy, the subjects of social enterprises and responsible investors.
  • Know methods and approaches for risk and responsibility management, innovation implementation and change management.
  • Discover and manage the processes and applications of sustainable development in growing leaders, managing teams and organizing stakeholders.
  • Know the economic, social and environmental aspects of sustainable development.
  • Know the impact of sustainable leadership on the transformation of companies and increase of their competitiveness.
  • Be aware of the prospects for the Bulgarian business and civil sector in the context of the regional and European market and community.
  • Know the basic elements of responsible management - human rights, labor practices, environmental protection, customer relations, anti-corruption behavior, social investment, supply chain management, and more.


In the practical aspect:

  • Apply the theoretical knowledge and shared practical experience to solve problems in practice.
  • Prepare thematic analyzes, mappings and diagnostics of the organization.
  • Formulate goals and strategies, to draft plans and to practice various types of control.
  • Carry out effective communication.
  • Plan and organize their own work effectively.
  • Be able to use various sources of information and work with them independently.


Possible realization of the graduates:

Graduates of the master's program can be realized professionally as specialists and managers in corporate sustainability and responsibility in companies from any industry, as experts, managers and consultants in public administration and the non-governmental sector, as lecturers and researchers and others.

In the public sector, experts in corporate social responsibility are sought in the central administration, incl. line ministries (economy, finance, energy, labor and social policy, environment, tourism and regional development).

In the private sector, professionals in the field of sustainable development and management are particularly valued in mining, energy, light and heavy industry, ICT and banking. This activity is formed as a separate managerial position and the current lack of trained staff creates increased demand from all large and medium enterprises. Specialists in corporate social responsibility are also in demand in the civil sector and are easily found in larger non-governmental organizations.



Marina Stefanova

Chief Assist. Prof. Marina Stefanova is director of the Master's programme "Responsible and Sustainable Governance", consultant on the "Business for Results" program of UNICEF in Bulgaria. Chairman of the Bulgarian Association of Corporate Social Responsibility Specialists (BAKSOS). Member of the SC of the Association of the investor relations directors in Bulgaria and the Bulgarian Food Bank. Founder and director of the multimedia information-educational programme "CSR AdviceBox" of "Kauzi" Foundation. Member of the Advisory Council on corporate social responsibility at the Ministry of Labor and Social Policy. More information about Ch. Assist. Prof. Marina Stefanova can be found here.



Atanas Georgiev

Assoc. Prof. Dr. Atanas Georgiev is Dean (since 2019) of the Faculty of Economics and Head of the Department of Economics and Management by Industries. Director of Master's programmes "Energy markets and services" and "Facility management". Member of the SC of the Bulgarian National Committee in the World Energy Council and member of the SC of Electro mobiles Industrial Cluster. Publisher of Facilities and Utilities magazines. More information about Assoc. Prof. Atanas Georgiev can be found here.



Evgenii Kanev

Evgenii Kanev, PhD, is a managing partner of the investment consulting company Maconis. He was managing director for Europe of the American company Tello Corporation and director of Corporate finance at KPMG Bulgaria. In his long career as an investment consultant, he has led a large number of merger and acquisition projects, business valuations and financing in a number of countries in Eastern Europe and Ireland. He holds a Master's degree in Business Administration from Illinois State University (USA) and a Diploma in Finance and Accounting from the Association of Chartered Certified Public Accountants (ACCA).



Elitsa Barakova

Elitsa Barakova is the executive director of BCause Foundation - an organization that seeks change in the lives of people and communities through development of philanthropy and social investment. Elitsa is a member of the National Council of the UN Global Compact Network Bulgaria, co-chair of the HR and CSR Committee in the American Chamber of Commerce and participates in the work of two permanent working groups - on CSR and Social Economy at the Ministry Labor and Social Policy. She has studied at Sofia University and has additional specializations at the School for International Training (Vermont, USA), Advocacy Institute and others.



Zhelyu Vladimirov

Prof. D.Sc. Zhelyu Vladimirov holds a PhD in Economics and teaches lectures in humanr resource management, organizational change and development, and innovation management. He served two terms as vice-dean of the Faculty and one term as vice-rector of Sofia University. He specialized in Paris (EHESS - 1987), Spain (IISL - 1996), Greece (Athens University of Economics and Business - 2002), USA (George Washington University - 2006), United Kingdom (Surrey, 2013-2015). More information about Prof. Zhelyu Vladimirov can be found here.



Justine Toms

Justin Toms, PhD, is a digital nomad and one of the Internet pioneers in Bulgaria. Long-term university lecturer, serial online entrepreneur, author of books. She specializes in digital media and communications, and dedicates her work to educate, encourage and support people with talents in these fields. She is author of 15 books, numerous articles and analyzes on the topic of digital. She is the founder of one of the first Bulgarian web agencies ABC Design and Communication (www.abcbg.com), creator of the media group Az Media, including the sites Az-jenata.bg, Az-deteto.bg, creator and conceptual leader of the competition for the best digital presence BG Site.



Maria Trifonova

Assistant in the Department of Economics and Industry Management at Sofia University. Her main competencies are in the field of renewable energy and its market integration, the national and European decarbonisation policies, as well as socio-economic aspects of the energy transition. As a research associate at the Center for the Study of Democracy, she is involved in various applied research projects in the field of socio-economic aspects of the transition in the coal regions, offshore wind and energy transition. Guest researcher at the European Council on Foreign Relations. She is a member of the Network of Scientists Researching the Transition to Sustainability, as well as the Bulgarian Committee of the World Energy Council, where she contributes to the work of the international working groups on hydrogen and the humanization of the energy transition. More information about Assistant Professor Trifonova can be found here.



Marcellin Yovogan

Assoc. Prof. Dr. Marcelen Yovogan is Head of the Department of Finance and Accounting and Deputy Dean for International Affairs and University Cooperation. Member of the Management Board of the Scientific Research Fund at Sofia University, the Scientific Commission of the International Financial Management Association, Florida, USA, as well as the European Finance Association, Brussels, Belgium. Since 2016, he is a member of an expert group at NEAA. More information about Assoc. Prof. Marcelen Yovogan can be found here.



Peter Nachev

Petar Nachev is the director of the Living Standard, Demographic Policy and Social Investments Directorate at the Ministry of Labor and Social Policy. PhD student at SWU "Neofit Rilski" with the topic "Theory of money and types of regulations." In the public sector, he works consecutively in the structures of the Ministry of Health, the Council of Ministers and the National Assembly of the Republic of Bulgaria. He has graduated from the University of Montpellier (France) with a master's degree in Banking and Finance. He specialized twice at the National School of Administration in Paris.



Plamen Dimitrov

Dr. Plamen Dimitrov is a psychologist and existential psychotherapist with 37 years of international experience in the field of psychological and organizational counseling, crisis intervention, creation and implementation of corporate programs for psychosocial support of employees (Employee Assistance Programs), team and organizational recovery, strengthening and development. He has additional qualifications such as RODC registered organization development consultant, advanced organizational consulting, group dynamics and applied business psychology, existential analysis, counseling and psychotherapy (New School of Counseling and Psychotherapy, UK).



Savina Mihailova

Assoc. Prof. Dr. Savina Mihailova-Goleminova is a lecturer in financial and tax law. She has specialized in IFBD (Amsterdam, the Netherlands) and Oxford University (United Kingdom). Member of the Sofia BAR Association and the International Fiscal Association (IFA). Representative of the Bulgarian branch of IFA in IFA WIN. More information about Assoc. Prof. Savina Mihailova-Goleminova can be found here.



Tsvetan Davidkov

Prof. Dr. Sc. Tsvetan Davidkov is a lecturer at Sofia University "St. Kliment Ohridski". He teaches courses in fundamentals of management, entrepreneurship, organizational behavior, national and organizational cultures, etc. He has specialized in teaching management knowledge, business communications, entrepreneurship and small business, project management, quality systems, distance learning in the UK, the Netherlands, Belgium, Germany, Sweden, Ireland, the Czech Republic and Hungary and others. More information about Prof. Tsvetan Davidkov can be found here.