Projects in progress


On commission by the WIKANA Company the Institute for Financial Research and Analyses is preparing expertise on the principles of property tax in Poland. The expertise will cover:

  • Issues of property tax and their sections; 
  • Issues of land tax including agricultural and forested areas;
  • Problems in taxation of buildings;
  • Principles of calculating and optimising easement fees and planned rental leases ;
  • Principles of property tax as apport/all possible concepts and forms;
  • Issues of taxation on income from chargeable transfer of property;
  • Issues of property taxation in the context of optimising taxation;
  • Specifics of taxation on trustee property;
  • Issues of taxation on purchase, sales and transfer of property;
  • Taxation on rentals, tenancy, sub-rentals, and leasing of property;
  • Property tax as apport in physical person and capitalised companies;
  • Issues related to registry of real estate and perspectives for growth on the market in Poland


The Institute for Financial Research and Analyses has undertaken the preparation of investment materials for the magnezite plant ROPCZYCE S.A. The informational teaser will be enhanced with a presentation for investors based on the state-of-the-art application Prezi.


The Institute for Financial Research and Analyses organized the first conference in the cycle Forum of Financial Ideas under the title ‘Financial education yesterday, today and tomorrow. Are Poles ready for investing?’ The conference was held December 13, 2011 in the Listing Room of the Warsaw Stock  Exchange and at the Center for International Education in Kielnarowa which is part of the campus of the University of Information Technology and Management in Rzeszow. The two locations were connected by a video bridge.

Several distinguished persons from the world of finance appeared at the conference. Speakers included:

  • Prof. dr hab. Krzysztof Opolski (University of Warsaw)
  • Prof. Javed Ghulam Hussain (Birmingham City University)
  • Dr Lidia Adamska (Member of the Board at the Warsaw Stock Exchange)
  • Dr Ryszard Petru (Head of the Association of Polish Economists)
  • Piotr Kuczyński (Head Analyst at Xelion Doradcy Finansowi)
  • Marcin Mróz (Head Economist at BNP Paribas Bank Polska SA)
  • Fiona Harvey (Market Director - Performance & Emerging Markets, CIMA)
  • Łukasz Tarnawa (Head Economist at BOŚ Bank SA)

After the speakers presented there was a panel discussion. Discussion was on the responsibility of economic commentators and their impact on the world markets. A great deal of attention was devoted also to the process of teaching, noted were the mistakes made in the teaching process, the need to learn the skill of selecting and analyzing the facts was emphasized as was their efficient verification.

During the conference the Financial Laboratory which belongs to the Institute for Financial Research and Analyses in Rzeszow was also presented as were the educational programs offered by the Institute.

Photos from the event: Gallery.


The aim of the project is to carry out a study with analysis of the effectiveness of automatic transaction systems. The first result of the project will be a publication in English on the construction of transaction systems based on MQL4.


The project foresees the design of automated transcation systems, their implementation and testing based on a transaction platform within the Meta Trader 4 environment. Tests of the efficiency of the systems will made for various markets:

1)    Currency market – categorised in main pairs of currency and main pairs on emergin markets,
2)    CFD for market indices (WIG20, S&P500, NASDAQ100, Dax30 etc.),
3)    CFD on goods,
4)    Equity DMA.



Within the framework of the 'Index Plus' program of the Ministry of Science and Higher Education the editors of 'e-Finanse' began in mid-December 2010 work on the project titled 'Internationalisation and Enhancement of the Financial Quarterly e-Finanse'.


The project aims to make the achievements of Polish researchers more widely known abroad. Enhancing the publication and opening it up to the world has been made possible by financing of efforts to reach and interest reviewers and new program council members from outside of Poland. This is all possible within the 'Index Plus' program which will also make it possible to upgrade 'e-Finanse' from an ICT perspective.


The expected results of the project are primarily to increase interest in Polish research abroad, which should lead to increased readership of 'e-Finanse' and a higher position for the quarterly among international rankings.



The main goal of the project is to enhance the quality of public services provided by five territorial governmental entities at the commune level involved in the project; these are in Rymanow, Iwonicz-Zdroj, Solina, Busk-Zdroj and Solec-Zdroj. The specific project objectives are to not only raise the qualifications of staff in these offices but also to strengthen the organisational capabilities of the entities participating in the project and to improve communication between local government and citizens. The project foresees achievement of these aims through a flexible (dedicated) system of training for local public administration staff, systemic enhancement of strategic management capabilities of these local public entities, improvement in the area of external and internal communication of participating offices, and the implementation of innovative solutions such as the balanced scorecard performance evaluation tool.


The project responds to the needs of territorial local authorities as diagnosed in empirical studies, and its offer is of a dedicated nature. The proposed solutions are thus designed to ensure the effectiveness of reaching the desired objectives thanks to which these public entities, the project beneficiaries, will truly strengthen their potential by their reorientation towards the market.


Project Team: Institute for Financial Rese

arch and Analyses (IFRA), Institute of Economics IG WSIiZ




The project is to create a financial laboratory in which students and other interested participants could learn and increase their knowledge on investing in financial markets. It also aims to provide academic staff the tools and data necessary for advanced financial research. Currently there exists only one such laboratory in all of Central-Eastern Europe (at the University of Gdansk). This project aims to develop a laboratory which is more state-of-the-art; in addition it is planned to integrate with the results of other development projects and tasks (such as the Financial Radar).


The Laboratory is located in the Centre for International Education at the UITM campus in Kielnarowa. This professionally equipped room in the style of a broker’s dealing room makes innovative research and educational activities possible. It has 24 workstations with special computer terminals equipped with dual LCD monitors and the TMS Brokers transaction platform installed.


The Laboratory also has specialist lighting equipment for displaying financial information (such as a data wall) provided by Dysten, the same company which supplied such equipment to the Warsaw Stock Exchange and the TVN television station. Soon it will have additional equipment such as a ticker. See for yourself how on target the the financial laboratorium will look.






The project aims to raise the vocational qualifications of company managers and staff career through participation in post-graduate studies. The project’s target group is 300 business managers or employees throughout Poland, as well as owners of micro and small-sized entities.

Classes will take place through the use of state-of-the-art didactic methods and ICTs, in well-equipped classrooms that include computer laboratories (for use in simulations, prognosis, etc) and will be of a workshop nature or managerial game structure, supported by a dedicated internet platform (for e-discussion forums, blogs, chatroom) encouraging participants to independent study with the learning materials outside of the classroom. Part of the course will be lead by practitioners with training experience. Rather than an expansive theoretical structure, emphasis will be on creative problem solving, increasing analytical capabilities, developing creativity in a vocational context, innovative methods of idea generation, effective teamwork, and ways to break the barriers to creative thinking. This will be facilitated by innovative teaching methods - managerial games, a didactic e-platform (chatroom, discussion forums, electronic knowledge resources and databases), case studies, tasks using specialist computer programs and workshops. Both board and managerial games will also be used.





We present an analytical report
IFRA vol. 1, nr 2

"Financial knowledge in actual activity of local goverment units"


see other reports of the IFRA...








  •  Financial Internet Quarterly


  • Financial Laboratory





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Institute for Financial Research and Analyses
University of Information Technology and Management in Rzeszów
35-225 Rzeszów
ul. Sucharskiego 2, pokój 248

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