Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ECONOMICS

Course:

ECONOMICS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
1	Obavezan	1	9	4+4+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	No prerequisites
Aims	Understanding of basic economic principles, categories and processes
Learning outcomes	Upon completion of this course student will be able to analyze and practically aplly basic principles of economic science, understand and analyze basic economic models, understand law of supply and demand in goods market and the market of factors od production, show that he is familiar with basic elements of public sector economics and intepret fundamental indicators of macroeconomic environment.
Lecturer / Teaching assistant	Professor Milivoje Radovic, PhD; Teaching assistants : Jovan Đurašković, PhD and Milena Radonjić, Msc
Methodology	Lectures and seminars; discussions and short oral tests of understanding the subject matter treated during lectures and seminars two preliminary exams (written) and final exam (oral)

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Economics basics.Economics and economic system.
I week exercises	Economics basics.Economics and economic system.
II week lectures	Ten Principles of Economics. Thinking like an economist.
II week exercises	Ten Principles of Economics. Thinking like an economist.
III week lectures	Interdependence and the Gains from Trade. The Market Forces of Supply and Demand.
III week exercises	Interdependence and the Gains from Trade. The Market Forces of Supply and Demand.
IV week lectures	Elasticity and Its Application. Supply, Demand and Government Policies.
IV week exercises	Elasticity and Its Application. Supply, Demand and Government Policies.
V week lectures	Consumers, Producers and the Efficiency of Markets. The Costs of Taxation.
V week exercises	Consumers, Producers and the Efficiency of Markets. The Costs of Taxation.
VI week lectures	International Trade (world price and comparative advantage, tariffs and import quotas)
VI week exercises	International Trade (world price and comparative advantage, tariffs and import quotas)
VII week lectures	Public Sector Economics. Externalities. Public Goods and Common Resources.
VII week exercises	Public Sector Economics. Externalities. Public Goods and Common Resources.
VIII week lectures	First preliminary exam (written)
VIII week exercises	First preliminary exam (written)
IX week lectures	Firm Behavior and the Organization of Industry (conceptually). Economic of Labor Markets. Earnings and Discrimination. Income Inequality and Poverty.
IX week exercises	Firm Behavior and the Organization of Industry (conceptually). Economic of Labor Markets. Earnings and Discrimination. Income Inequality and Poverty.
X week lectures	Macroeconomics – Measuring a Nation's Income. Measuring the Cost of Living.
X week exercises	Macroeconomics – Measuring a Nation's Income. Measuring the Cost of Living.
XI week lectures	Production of Output in the Long Run. Production and Growth. Saving, Investment and the Financial System.The Basic Tools of Finance. Unemployment and Natural Rate of Unemployment.
XI week exercises	Production of Output in the Long Run. Production and Growth. Saving, Investment and the Financial System.The Basic Tools of Finance. Unemployment and Natural Rate of Unemployment.
XII week lectures	Second preliminary exam (written)
XII week exercises	Second preliminary exam (written)
XIII week lectures	Money and Prices in the Long Run – The Monetary System. Money Growth and Inflation. Capital Market.
XIII week exercises	Money and Prices in the Long Run – The Monetary System. Money Growth and Inflation. Capital Market.
XIV week lectures	Short-run Fluctuations in the Economy.The Influence of Monetary and Fiscal Policy on Aggregate Demand. The Phillips Curve
XIV week exercises	Short-run Fluctuations in the Economy.The Influence of Monetary and Fiscal Policy on Aggregate Demand. The Phillips Curve
XV week lectures	Final exam (oral)
XV week exercises	Final exam (oral)

Student workload	Per week: 9 credits x 40/30 = 12 hours Structure: Lectures: 4 hours Seminars: 4 hours Individual work: 4 hours including tutorials Per semester: Subject workload 9 x 30 = 270 hours Structure: Classes and final exam: 12 x 16 weeks = 192 hours Preparation needed before start of semester (administration, enrolment and verification): 12 x 2 =24 hours Additional work for preparing and takng exams in re-sit period: 54 hours
Per week	Per semester
9 credits x 40/30=12 hours and 0 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 4 excercises 4 hour(s) i 0 minuts of independent work, including consultations	Classes and final exam: 12 hour(s) i 0 minuts x 16 =192 hour(s) i 0 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 12 hour(s) i 0 minuts x 2 =24 hour(s) i 0 minuts Total workload for the subject: 9 x 30=270 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 54 hour(s) i 0 minuts Workload structure: 192 hour(s) i 0 minuts (cources), 24 hour(s) i 0 minuts (preparation), 54 hour(s) i 0 minuts (additional work)
Student obligations	Lessons attendance is mandatory for students as well as participating in classes actively.
Consultations	Consultations take place within established terms which are published on website or by mail.
Literature	Gregory Mankiw, „Principi ekonomije“, 3rd edition Miroljub Labus, „Osnovi ekonomije“, Ekonomski fakultet Beograd
Examination methods	Two midterms which include essay questions and problems, final exam (30 points) and classroom participation (10 points)
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / MATHEMATICS

Course:

MATHEMATICS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
3	Obavezan	1	10	4+4+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	No conditionality
Aims	The subject is basic course which aims to enable students to understand the basic definitions, theorems, principles and methods of Mathematical Economics in order to help them in other to understand other quantitative disciplines such as Financial and Actuarial Mathematics, Microeconomics, Statistics, Operational Researches, …
Learning outcomes	After completion of this course the student will be able to: 1. Calculate the value of determinant and specify it properties. 2. Define the matrix, conduct basic arithmetic operations with matrices and specify their properties. 3. Determine and discuss solutions of system of linear equations and inequalities. 4. Define a vector and arithmetic operations with vectors. 5. Define the function and explain basic concepts of function of one variable, and to draw its graph. 6. Define a derivative of the function of one variable, interpret it economically and geometrically 7. Define and interpret the basic concepts of integral calculus and apply the definite integral to surfaces calculation and to solve economic tasks. 8. Define the function of more variable and explain basic concepts, as well as to apply partial derivatives to extreme values determination. 9. Interpret and explain theorems regarding the concepts learned. 10. Applies learned concepts and theorems on economic phenomenon and create a simpler mathematical- economic models.
Lecturer / Teaching assistant	prof. dr Vladimir Kašćelan, doc. dr Saša Vujošević, dr Julija Cerović, dr Milena Lipovina- Božović
Methodology	): A classical lecture and exercises. Discussion and clarification during lectures. Short oral test of understanding and knowledge of the subject matter of the lectures, with the active participation of students in solving problems. It is planned one test and final exam.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	The nature of Mathematical economics. Economics models. Equilibrium analysis in economics. Linear models and matrix algebra. Matrices. Vectors
I week exercises	The nature of Mathematical economics. Economics models. Equilibrium analysis in economics. Linear models and matrix algebra. Matrices. Vectors
II week lectures	Determinants. Inverse matrix. Cramer's rule. Application to market and National-income models. Leontief Input-Output models. Gaussian algorithm. Rank. Kronecker- Capelli theorem
II week exercises	Determinants. Inverse matrix. Cramer's rule. Application to market and National-income models. Leontief Input-Output models. Gaussian algorithm. Rank. Kronecker- Capelli theorem
III week lectures	Vector space. Linear dependence. Basis. Convex set. Hyperplane in the n-space. Linear inequality
III week exercises	Vector space. Linear dependence. Basis. Convex set. Hyperplane in the n-space. Linear inequality
IV week lectures	System of linear inequalities. Application to Linear programming. Limit of sequence. Euler's number
IV week exercises	System of linear inequalities. Application to Linear programming. Limit of sequence. Euler's number
V week lectures	The real function of a real variable. Elementary functions- characteristics and graphics. Inverse function. Composite function. Limit of function. Continuous function
V week exercises	The real function of a real variable. Elementary functions- characteristics and graphics. Inverse function. Composite function. Limit of function. Continuous function
VI week lectures	Economic functions. Derivative- definition and geometric interpretation. Rules of differentiation- derivation of sum, product and quotient. Chain rule. Application in economics- marginal function.
VI week exercises	Economic functions. Derivative- definition and geometric interpretation. Rules of differentiation- derivation of sum, product and quotient. Chain rule. Application in economics- marginal function.
VII week lectures	Elasticity. Differentials. Higher derivatives. Monotonic function. Growth rate. Mean- value theorems. L’Hopital’s rule
VII week exercises	Elasticity. Differentials. Higher derivatives. Monotonic function. Growth rate. Mean- value theorems. L’Hopital’s rule
VIII week lectures	Extreme values. Convexity. Inflection point. Characteristics of functions
VIII week exercises	Extreme values. Convexity. Inflection point. Characteristics of functions
IX week lectures	Graph. Graphing functions
IX week exercises	Graph. Graphing functions
X week lectures	Dynamics and Integration. Indefinite integrals
X week exercises	Dynamics and Integration. Indefinite integrals
XI week lectures	Definite integral- definition. Newton-Leibniz formula. Economic applications of integrals. Domar growth model. First- order differential equations. Equations with separated variable. Homogeneous differential equation.
XI week exercises	Definite integral- definition. Newton-Leibniz formula. Economic applications of integrals. Domar growth model. First- order differential equations. Equations with separated variable. Homogeneous differential equation.
XII week lectures	First and second order linear differential equations. Dynamics of market price.
XII week exercises	First and second order linear differential equations. Dynamics of market price.
XIII week lectures	Discrete time- difference equations. Economic application. Function of more than one variable. Partial derivatives.
XIII week exercises	Discrete time- difference equations. Economic application. Function of more than one variable. Partial derivatives.
XIV week lectures	Partial and cross-partial elasticity. Total differentials.Extreme values (free and constrained optimum). Lagrangean function. Economic application
XIV week exercises	Partial and cross-partial elasticity. Total differentials.Extreme values (free and constrained optimum). Lagrangean function. Economic application
XV week lectures	Homogeneous function.Economic application. Utility maximization and consumer demand. Least squares method.
XV week exercises	Homogeneous function.Economic application. Utility maximization and consumer demand. Least squares method.

Student workload	per week 10 ECTS x 40/30 = 13.33 hours Structure: 4 hours of lectures 4 hours of exercise 5.33 hours of independent work, including consultation per semester Total workload for the course: 10 ECTS x 30 = 300 hours Structure: Lessons and the final exam: 13.33 hours x 16 weeks = 213.33 hours Necessary preparations before the start of the semester (administration): 13.33 hours x 2 weeks = 26.66 hours Additional work for preparation and make-up examination: 60 hours
Per week	Per semester
10 credits x 40/30=13 hours and 20 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 4 excercises 5 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 13 hour(s) i 20 minuts x 16 =213 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 13 hour(s) i 20 minuts x 2 =26 hour(s) i 40 minuts Total workload for the subject: 10 x 30=300 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 60 hour(s) i 0 minuts Workload structure: 213 hour(s) i 20 minuts (cources), 26 hour(s) i 40 minuts (preparation), 60 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes
Consultations	Avaliable information at website and noticeboard.
Literature	1. Alpha C. Chiang Fundamental Methods of Mathematical Economics, Second edition, McGraw-Hill, 1974. 2. B.Laković V.Kašćelan S.Vujošević Matematika za ekonomiste- teorija i zadaci, III izdanje, Ekonomski fakultet, Podgorica, 2003.
Examination methods	Assessment methods: Test 50 points Final exam 50 points The exam is passed if the total score is at least 50 points in total. Marks A B C D E No. of points 90-100 80-89 70-79 60-69 50-59
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / SOCIOLOGY

Course:

SOCIOLOGY/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
4	Obavezan	1	5	3+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
5 credits x 40/30=6 hours and 40 minuts 3 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 6 hour(s) i 40 minuts x 16 =106 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 6 hour(s) i 40 minuts x 2 =13 hour(s) i 20 minuts Total workload for the subject: 5 x 30=150 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 30 hour(s) i 0 minuts Workload structure: 106 hour(s) i 40 minuts (cources), 13 hour(s) i 20 minuts (preparation), 30 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / LAW

Course:

LAW/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
5	Obavezan	1	6	3+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	Without specific conditions for the registration and listening of this subject
Aims	Introducing students with basic concept of law. Special attention to areas of law connected with economics – company law, obligation law, securities law, intellectual property law.
Learning outcomes	Describe and explain the social system, the legal system and the national legal system; connects and distinguishes legal norms, legal acts, institutions and branches of law; describes and explains the basic institutions of the obligation and business law; describes and explains the basic institutions of real-estate law; explains and compares the basic forms of business organization; different securities of other written documents and points to their importance in business relations; independently compiled and distinguishes the basic business contracts.
Lecturer / Teaching assistant	Mijat Jocović
Methodology	classic lectures, consultations, individual and group work with students, case studies, debates, essay.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Basic concepts of Law (legal norms, acts, branches of law, areas of law).
I week exercises	Basic concepts of Law (legal norms, acts, branches of law, areas of law) - examples in practice.
II week lectures	Subjects of law (natural and legal persons);
II week exercises	Subjects of law (natural and legal persons).
III week lectures	Company law (legal forms of conducting business activities).
III week exercises	Company law (legal forms of conducting business activities) - examples in practice. Case studies.
IV week lectures	Reorganization and liquidation of business activities. Objects of civil law.
IV week exercises	Reorganization and liquidation of business activities. Objects of civil law. Explanation through examples from practice. Essay and debate.
V week lectures	Real estate law –property, mortgage, pledge.
V week exercises	Real estate law –property, mortgage, pledge. Explanation through examples from practice.Case studies.
VI week lectures	Basic concept of Obligation law.
VI week exercises	Basic concept of Obligation law. Explanation through examples from practice.Case studies.
VII week lectures	Midterm exam
VII week exercises	Midterm exam
VIII week lectures	Basic concepts of contracts. Concluding and suspending of the contracts. Forms of contracts.
VIII week exercises	Basic concepts of contracts. Concluding of the contracts. Forms of contracts.Explanation through examples from practice.Case studies.
IX week lectures	Basic concepts of contracts. Changing persons in obligation and contract insurance.
IX week exercises	Basic concepts of contracts. Changing persons in obligation and contract insurance.Explanation through examples from practice.Case studies.
X week lectures	Basic concepts of contracts.Suspending and cancelling of the contracts.
X week exercises	Basic concepts of contracts.Suspending and cancelling of the contracts.Explanation through examples from practice.Case studies.
XI week lectures	Individual contracts.
XI week exercises	Individual contracts. Exercise - contract writing.
XII week lectures	Securities Law – basic concepts. Bill of exchange. Check.
XII week exercises	Securities Law – basic concepts. Bill of exchange. Check.Explanation through examples from practice.
XIII week lectures	Intellectual property law.
XIII week exercises	Intellectual property law.Explanation through examples from practice.Case studies.
XIV week lectures	Second test.
XIV week exercises	Second test.
XV week lectures	Final exam.
XV week exercises	Final exam.

Student workload	per week 6 credits x40/30=8h Structure: 3h lectures 2h exercises 3h Individual work Per semester lectures and final exam: 6 x 30 = 180h Structure: lectures and final exam: 8x 16 week= 128h preparation for semestar: 8 X2 =16 h Additional work: 36 sati
Per week	Per semester
6 credits x 40/30=8 hours and 0 minuts 3 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 3 hour(s) i 0 minuts of independent work, including consultations	Classes and final exam: 8 hour(s) i 0 minuts x 16 =128 hour(s) i 0 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 8 hour(s) i 0 minuts x 2 =16 hour(s) i 0 minuts Total workload for the subject: 6 x 30=180 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 36 hour(s) i 0 minuts Workload structure: 128 hour(s) i 0 minuts (cources), 16 hour(s) i 0 minuts (preparation), 36 hour(s) i 0 minuts (additional work)
Student obligations	Students are obliged to attend classes, work tests, participate in debates and write essays.
Consultations	Monday, 10-14. e-mail consultation.
Literature	Dr Snežana Miladinović – “Pravo za ekonomiste” – Ekonomski fakultet, Podgorica, 2012.
Examination methods	2 tests (max 50 2*25) activities in class (max 10) Final exam (max 40)
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / BUSINESS

Course:

BUSINESS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
8	Obavezan	2	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	There are no prerequisites
Aims	The course aims to provide students understand the business as a way of thinking and behavior. The main objective of this course is to enable students to understand the importance and role of business and entrepreneurship in today's business environment, as well as mastering the basic skills and key skills to start and successfully run their own business. The intention is to enable students to self-assessment of business opportunities, their market valorisation, assessment of their own entrepreneurship (business) skills, as well as the modeling of the business plan, which will create the preconditions for a successful entrepreneurial management, not only within small entrepreneurial ventures, but also the conditions concrete economic realities of large organizations.
Learning outcomes	After passing this exam, students will be able to: Describe the basic categories of business and entrepreneurship ventures; Explain the business through the ability of spotting opportunities and identify key tasks of business owners (entrepreneurs); Point out the features and characteristics of business owners (entrepreneurs) and describe the key factors of entrepreneurial process; Talk about the nature of business opportunities, sources of business ideas, methods for spotting opportunities and of making business decisions; Explain the innovation as business determinant, describe the process of the innovation and point out types of innovation; Analyze resources as a business determinant and describe the business (entrepreneurial) infrastructure; Develop a business plan model (the form and content of a concrete idea or company); Classify general and specific models of financing a business as well as possible variants in the creation of business through the international and national practices.
Lecturer / Teaching assistant	Boban Melović, Associate Professor
Methodology	Explication of theoretical postulates, case studies (foreign and domestic), essays, debates, practical workshops (business plan, etc..), discussions in class, etc..

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction to business - the basic categories and conceptual definition of business and entrepreneurial ventures; Historical development of entrepreneurship (business) - classical and contemporary theories;
I week exercises	Introduction to business - the basic categories and conceptual definition of business and entrepreneurial ventures; Historical development of entrepreneurship (business) - classical and contemporary theories;
II week lectures	Nature of business (entrepreneurship); The ability to identify business opportunities; Operations (tasks) of business owners; Business management; Entrepreneurial management and business stakeholders;
II week exercises	Nature of business (entrepreneurship); The ability to identify business opportunities; Operations (tasks) of business owners; Business management; Entrepreneurial management and business stakeholders;
III week lectures	Classification (types) of business owners (entrepreneurs); Entrepreneurship vs small business;Properties and characteristics of business owners (entrepreneurs); The objectives of the business; Business (entrepreneurial) skills; The influence of cultural f
III week exercises	Classification (types) of business owners (entrepreneurs); Entrepreneurship vs small business;Properties and characteristics of business owners (entrepreneurs); The objectives of the business; Business (entrepreneurial) skills; The influence of cultural f
IV week lectures	Business (entrepreneurial) process; Business ideas vs business opportunity; Factors entrepreneurial (business) processes; Myths about entrepreneurship;
IV week exercises	Business (entrepreneurial) process; Business ideas vs business opportunity; Factors entrepreneurial (business) processes; Myths about entrepreneurship;
V week lectures	Traditional career vs business (entrepreneurial) career; The process of initiating a business;
V week exercises	Traditional career vs business (entrepreneurial) career; The process of initiating a business;
VI week lectures	Business opportunity – nature of business opportunities; Innovation as a determinant of business; Sources of business ideas; Methods and techniques for detecting and analyzing business opportunities;
VI week exercises	Business opportunity – nature of business opportunities; Innovation as a determinant of business; Sources of business ideas; Methods and techniques for detecting and analyzing business opportunities;
VII week lectures	Entrepreneurial (business) risk; Business decisions; The process of innovation; Types of innovation in business; Preparation for the test
VII week exercises	Test
VIII week lectures	Resources as a determinant of business; Business (Entrepreneurship) infrastructure;
VIII week exercises	Resources as a determinant of business; Business (Entrepreneurship) infrastructure;
IX week lectures	Organization of business activities; Changes as a determinant of business; Control of resources in business; Contemporary forms of business organization; The life cycle of a business; Business and market - the relationship and hierarchy;
IX week exercises	Organization of business activities; Changes as a determinant of business; Control of resources in business; Contemporary forms of business organization; The life cycle of a business; Business and market - the relationship and hierarchy;
X week lectures	Business crisis - causes, consequences and possible solutions (solutions); Types of business crises;
X week exercises	Business crisis - causes, consequences and possible solutions (solutions); Types of business crises;
XI week lectures	Success factors for new business; Measuring success in business; Communicating in business; Motivation (reward system) in business; Business and Social Responsibility - business results and business ethics. Control of business activities;
XI week exercises	Success factors for new business; Measuring success in business; Communicating in business; Motivation (reward system) in business; Business and Social Responsibility - business results and business ethics. Control of business activities;
XII week lectures	A business plan; Creating a business plan - the form and content of the business plan; Enable students to independently develop business plans, preparing for competitions etc.
XII week exercises	A business plan; Creating a business plan - the form and content of the business plan; Enable students to independently develop business plans, preparing for competitions etc.
XIII week lectures	Initiating a new business; The choice of form of business ownership; Legal aspects of business management; Positioning of business on the market;
XIII week exercises	Initiating a new business; The choice of form of business ownership; Legal aspects of business management; Positioning of business on the market;
XIV week lectures	Financing business; Models of financing business (business enterprise); Support business development and entrepreneurship - international and national practices; Specific models of business development - Scientific and technological parks, business incuba
XIV week exercises	Financing business; Models of financing business (business enterprise); Support business development and entrepreneurship - international and national practices; Specific models of business development - Scientific and technological parks, business incuba
XV week lectures	Possible variations in the design of business; Buying an existing business; Starting a new business; Franchising as a model for developing business; Mergers and acquisitions as a model of growth management business; Going out of business - leaving busines
XV week exercises	Test

Student workload	Total hours for the course: 4 x 30 = 120 hours; Structure: Classes and the final exam: 5.3 x 16 weeks = 85.3 hours; Necessary preparations before the start of the semester (administration, admission, verification): 5,3x2 = 10,6 hours; Additional work for the preparation and examination of make-up exam: 24,1 hours.
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes regularly and take the planned tests, essays, seminars and practical works.
Consultations	After hours of lectures and during official terms for consultations published on the website of the Faculty.
Literature	Boban Melović PhD, Business and Entrepreneurship, Faculty of Economics, Podgorica, 2014, chrestomathy; Further reading: Dragan Lajović PhD and associates, Introduction to Business, Faculty of Economics, Podgorica, 2012, chrestomathy; Blagoje Paunovic,
Examination methods	Assessment structures formed on the basis of the following elements: Two colloquiums with 30 points. Essay / Debate - 10 points; Business Plan - 10 points. The final (oral) exam - 20 points.
Special remarks
Comment	Additional information may be obtained from professor.

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / INFORMATICS

Course:

INFORMATICS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
9	Obavezan	3	5	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	No
Aims	The familiarity with basic information technologies which find application in the economy.
Learning outcomes	After passing this exam student will be able to: 1. Appoint and define the business information technology (IT) 2. Analyze, integrate and discuss IT in business practice 3. Estimate and select the appropriate IT alternatives when deciding in business practice 4. Prepare verbal and written presentations in the field of business IT and apply accepted IT- glossary 5. Explain the flow of an algorithm and compose simple algorithms for solving economic problems 6. Explain and compose simple data models in business and use them to query 7. Apply MS Office tools in business and science at the basic level
Lecturer / Teaching assistant	Prof. dr Ljiljana Kašćelan, mr Zorana Popović, mr Tamara Đuričković, mr Vladimir Vulić, dr Dijana Kovačević
Methodology	Lectures, exercises (practical and computational part), consultations

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Informatics - concept and importance
I week exercises	Windows
II week lectures	Information systems- structure, activities and types
II week exercises	Word
III week lectures	Computer hardware - trends, types and concept of computer systems.
III week exercises	Word. Excel
IV week lectures	Computer peripherals: input, output, and memory technologies
IV week exercises	Excel
V week lectures	Computer networks -trends, types and advantages of application in business
V week exercises	Excel
VI week lectures	Computer network technologies
VI week exercises	Colloquium 1 (practical)
VII week lectures	Computer software - business application software
VII week exercises	Algorithms
VIII week lectures	Computer software - system software
VIII week exercises	Algorithms
IX week lectures	Computer software - programming languages and translators
IX week exercises	Make-up Colloquium 1 (practical)
X week lectures	Data organization - types of databases and applications, database management systems (DBMS)
X week exercises	Algorithms
XI week lectures	Organization of data - data models, ER diagrams and relational model
XI week exercises	Algorithms
XII week lectures	Organization of data – examples of data models in business
XII week exercises	Colloquium 2 (algorithms)
XIII week lectures	Organization of data- query language SQL
XIII week exercises	Organization of data- query language SQL
XIV week lectures	Organization of data - examples and tasks
XIV week exercises	Organization of data - examples and tasks
XV week lectures	Organization of data - examples and tasks
XV week exercises	Make-up Colloquium 2 (algorithms)

Student workload	per week: 5 ECTS x 40/30 = 6.67 hours Structure: 2 hours of lectures 2 hours of exercise 2.67 hours of independent work and consultation per semester: Total hours for the course: 5 ECTS x 30 = 150 hours Structure: Lessons and the final exam: 6.67 hours x 16 weeks = 106.72 hours Necessary preparations before the start of the semester (before semester): 6.67 hours x 2 weeks = 13.34 hours Additional hours for preparation and make-up examination: 29.94 hours
Per week	Per semester
5 credits x 40/30=6 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 2 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 6 hour(s) i 40 minuts x 16 =106 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 6 hour(s) i 40 minuts x 2 =13 hour(s) i 20 minuts Total workload for the subject: 5 x 30=150 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 30 hour(s) i 0 minuts Workload structure: 106 hour(s) i 40 minuts (cources), 13 hour(s) i 20 minuts (preparation), 30 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes, participate in discussion on the topic in order to get points for activities and work tests.
Consultations	The terms are highlighted on the website of the Faculty.
Literature	1. Lj. Kašćelan, Information Technology for Business Decisions Support, University of Montenegro, 2012 - e-format 2. JA O'Brien, GM Marakas: Introduction to Information Systems, McGraw-Hill / Irwin, 2010
Examination methods	Colloquium 1 (practical) ............................ 20 points • Colloquium 2 (algorithms) ......................... 30 points • Final exam (theory).................................... 35 points • Activity in class ......................... ...
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ACCOUNTING

Course:

ACCOUNTING/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
11	Obavezan	3	9	3+4+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	No prerequisities, but it is desirable that student has passed exams on Economics of enterprises and Business Law
Aims	To review basic accounting and double-entry bookkeeping system and to introduce students with the main communication business language – accounting. Teaching students the accounting technique of recording business transactions and preparing financial statements according to IAS and IFRS.
Learning outcomes
Lecturer / Teaching assistant	Ana Lalevic Filipovic, PhD, professor Tanja Lakovic, MSc, teaching assistant Selma Demirovic, MSc, teaching assistant
Methodology	Lectures, practical exercises, attendance and activities

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Development, structure, classification and modern concept of accounting
I week exercises	Development, structure, classification and modern concept of accounting
II week lectures	Instruments of accounting; Opening of business books (accounts) for newly established and existing companies
II week exercises	Instruments of accounting; Opening of business books (accounts) for newly established and existing companies
III week lectures	Accounting principles and regulations; Accounting aspect of value added tax
III week exercises	Accounting principles and regulations; Accounting aspect of value added tax
IV week lectures	Accounting aspect of fixed assets
IV week exercises	Accounting aspect of fixed assets
V week lectures	Accounting aspect of equity (own equity and liabilities)
V week exercises	Accounting aspect of equity (own equity and liabilities)
VI week lectures	Accounting aspect of material (purchases)
VI week exercises	Accounting aspect of material (purchases)
VII week lectures	Free week
VII week exercises	Free week
VIII week lectures	Accounting aspect of goods (purchases)
VIII week exercises	Accounting aspect of goods (purchases)
IX week lectures	Midterm exam 1
IX week exercises	Midterm exam 1
X week lectures	Accounting aspect of primary costs and expenses in financial accounting (concept, classifications, diference between costs, expenses and cash flow), Accounting aspect of operating expenses; Costs of material
X week exercises	Accounting aspect of primary costs and expenses in financial accounting (concept, classifications, diference between costs, expenses and cash flow), Accounting aspect of operating expenses; Costs of material
XI week lectures	Costs of goods sold, Salary costs, Depreciation
XI week exercises	Costs of goods sold, Salary costs, Depreciation
XII week lectures	Other operating costs; Prepayments and accrued income; Accruals and deffered income
XII week exercises	Other operating costs; Prepayments and accrued income; Accruals and deffered income
XIII week lectures	Accounting aspect of revenues (concept, classifications, bookkeeping)
XIII week exercises	Accounting aspect of revenues (concept, classifications, bookkeeping)
XIV week lectures	Accounting of the periodic financial result
XIV week exercises	Accounting of the periodic financial result
XV week lectures	Other business transactions and preparation for financial reporting (off balance-sheet positions, closing entries, mistakes in bookkeeping)
XV week exercises	Other business transactions and preparation for financial reporting (off balance-sheet positions, closing entries, mistakes in bookkeeping)

Student workload	per week 9 ECTS x 40/30 = 12 hours Structure: Lectures: 3 classes Exercises: 4 classes Individual student work: 5 hours per semester Total hours for course: 9 ECTS x 30 = 270 hours Structure: Teaching and final exam: 16 weeks x 12 h= 192 h Preparation before the start of semester: 2 weeks x 12 hours = 24 hours Additional work to prepare and take an exam in additional term: 327 – (192 + 24) = 54 hours
Per week	Per semester
9 credits x 40/30=12 hours and 0 minuts 3 sat(a) theoretical classes 0 sat(a) practical classes 4 excercises 5 hour(s) i 0 minuts of independent work, including consultations	Classes and final exam: 12 hour(s) i 0 minuts x 16 =192 hour(s) i 0 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 12 hour(s) i 0 minuts x 2 =24 hour(s) i 0 minuts Total workload for the subject: 9 x 30=270 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 54 hour(s) i 0 minuts Workload structure: 192 hour(s) i 0 minuts (cources), 24 hour(s) i 0 minuts (preparation), 54 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes, to take a part during classes and to take exams
Consultations	1.professor, Ana Lalevic-Filipovic, PhD: savana@t-com.me 2.teaching assistant Tanja Lakovic: tanjalakovic.me@gmail.com 3.teaching assistant Selma Demirovic: selmad@ac.me
Literature	• Malinic Slobodan, Lalevic Filipovic Ana: Racunovodstvo, Faculty fo Economics, Podgorica, 2009 • Lakovic Tanja: Zbirka zadataka iz racunovodstva, Faculty of Economics, Podgorica, 2009 • Sidney J. Gray, Belverd E. Needles: Finansijsko racunovodstvo – op
Examination methods	• Two tests with a maximum 30 points (Test is contained of exercises and theoretical questions. Exercises take a maximum 20 points and theoretical part a maximum 10 points.Student needs to achieve a minimum 15 points to pass a test (within minimum 15 poin
Special remarks
Comment	If student reaches minimum 47,5 point by two tests and final exam he need to reach minimum 2,5 point on attendance and activities during classes in order to pass an exam.

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / STATISTICS

Course:

STATISTICS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
13	Obavezan	2	10	4+4+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
10 credits x 40/30=13 hours and 20 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 4 excercises 5 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 13 hour(s) i 20 minuts x 16 =213 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 13 hour(s) i 20 minuts x 2 =26 hour(s) i 40 minuts Total workload for the subject: 10 x 30=300 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 60 hour(s) i 0 minuts Workload structure: 213 hour(s) i 20 minuts (cources), 26 hour(s) i 40 minuts (preparation), 60 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / DEVELOPMENT OF ECONOMIC THOUGHT

Course:

DEVELOPMENT OF ECONOMIC THOUGHT/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
14	Obavezan	4	7	4+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
7 credits x 40/30=9 hours and 20 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 3 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 9 hour(s) i 20 minuts x 16 =149 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 9 hour(s) i 20 minuts x 2 =18 hour(s) i 40 minuts Total workload for the subject: 7 x 30=210 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 42 hour(s) i 0 minuts Workload structure: 149 hour(s) i 20 minuts (cources), 18 hour(s) i 40 minuts (preparation), 42 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / FINANCIAL MATHEMATICS

Course:

FINANCIAL MATHEMATICS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
16	Obavezan	4	5	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	No conditionality
Aims	The subject aims to enable students to understand the basic definitions, theorems, principles and methods of financial mathematics, which are widely used in economics, e.g. in financial management, securities, banking business, insurance, ...
Learning outcomes	After completion of this course the student will be able to: 1. Define simple and complex proportion, division of given value, weighted average and apply the percentages to solve business mathematics tasks. 2. Define the anticipative and decursive method of interest calculation, nominal, relative and effective interest rate and apply these concepts in determining the prices of instruments in the money market. 3. Determine the annuity and to make a plan of repayment of consumer and investment loans. 4. Apply the equivalence principle and the methods of discounting and prolongation in testing the profitability of investments, as well as in evaluation of long-term bonds and shares. 5. Calculate the discount factor with a variable interest rate, applied it to periodic annuities and compare it with the discount factors in discrete and continuous case with a constant interest rate. 6. Calculate the discount factor in insurance-technical sense, define biometric functions and apply financial mathematics and probability to solve simple actuarial mathematics tasks. 7. Describe the types of life insurance and to calculate the net and gross premium for each of them.
Lecturer / Teaching assistant	prof. dr Vladimir Kašćelan, doc. dr Saša Vujošević, Tanja Mirotić
Methodology	A classical lecture and exercises. Discussion and clarification during lectures. Short oral test of understanding and knowledge of the subject matter of the lectures, with the active participation of students in solving problems. It is planned one test and final exam.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Classical calculations in economic mathematics: division, proportions, mixtures, percentage calculation
I week exercises	Classical calculations in economic mathematics: division, proportions, mixtures, percentage calculation
II week lectures	Depreciation of fixed assets. The concept of the time value of money – the equivalence principle. Interest calculation (decursive and anticipative method). Equivalent interest rates. Simple and compound interest. Discounting (present value) method and met
II week exercises	Depreciation of fixed assets. The concept of the time value of money – the equivalence principle. Interest calculation (decursive and anticipative method). Equivalent interest rates. Simple and compound interest. Discounting (present value) method and met
III week lectures	Nominal, relative and effective interest rate. Discounting short term bonds. Price determination of instruments in the money market
III week exercises	Nominal, relative and effective interest rate. Discounting short term bonds. Price determination of instruments in the money market
IV week lectures	Consumer loans. Streams of payments – periodic cash inflow and outflow. Investment loans
IV week exercises	Consumer loans. Streams of payments – periodic cash inflow and outflow. Investment loans
V week lectures	Conversion of the loan. Intercalary interest. Profitability of investments. Evaluation of long-term bonds. Determination of stock value
V week exercises	Conversion of the loan. Intercalary interest. Profitability of investments. Evaluation of long-term bonds. Determination of stock value
VI week lectures	Generalization of the theory of interest rates- effective and nominal interest rates. Theorem on accumulation factor.
VI week exercises	Generalization of the theory of interest rates- effective and nominal interest rates. Theorem on accumulation factor.
VII week lectures	Present value of discrete and continuous cash flows. Internal rate of return (IRR). Comparison of two investment projects
VII week exercises	Present value of discrete and continuous cash flows. Internal rate of return (IRR). Comparison of two investment projects
VIII week lectures	Effective interest rates on loans and deposits. The case of different active and passive interest rates. DPP discounted payback period. The impact of inflation
VIII week exercises	Effective interest rates on loans and deposits. The case of different active and passive interest rates. DPP discounted payback period. The impact of inflation
IX week lectures	Basic concepts of probability theory- classical definition, random variables and their expectation
IX week exercises	Basic concepts of probability theory- classical definition, random variables and their expectation
X week lectures	Test
X week exercises	Test
XI week lectures	Introduction to actuarial mathematics. Biometric functions. Mortality rate. Expected and probable life duration. Life annuities payable annual (single net premium)
XI week exercises	Introduction to actuarial mathematics. Biometric functions. Mortality rate. Expected and probable life duration. Life annuities payable annual (single net premium)
XII week lectures	Make-up test
XII week exercises	Make-up test
XIII week lectures	Life insurance (single net premium)- pure endowment, whole life insurance (annual case), endowment Life insurance on the fixed term.
XIII week exercises	Life insurance (single net premium)- pure endowment, whole life insurance (annual case), endowment Life insurance on the fixed term.
XIV week lectures	Case of more than one premium (net premiums). Annuities payable m times a year. Premiums payable m times per year
XIV week exercises	Case of more than one premium (net premiums). Annuities payable m times a year. Premiums payable m times per year
XV week lectures	Gross premium calculation.
XV week exercises	Gross premium calculation.

Student workload	per week 5 ECTS x 40/30 = 6.67 hours Structure: 2 hours of lectures 2 hours of exercise 2.67 hours of independent work, including consultation per semester Total workload for the course: 5 ECTS x 30 = 150 hours Structure: Lessons and the final exam: 6.67 hours x 16 weeks = 106.72 hours Necessary preparations before the start of the semester (administration): 6.67 hours x 2 weeks = 13.34 hours Additional work for preparation and make-up examination: 29.94 hours
Per week	Per semester
5 credits x 40/30=6 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 2 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 6 hour(s) i 40 minuts x 16 =106 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 6 hour(s) i 40 minuts x 2 =13 hour(s) i 20 minuts Total workload for the subject: 5 x 30=150 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 30 hour(s) i 0 minuts Workload structure: 106 hour(s) i 40 minuts (cources), 13 hour(s) i 20 minuts (preparation), 30 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes
Consultations	Available information on website and noticeboard.
Literature	Mandatory: B. Laković V. Kašćelan Privredna i finansijska matematika, II izdanje, Poslovna škola- Ekonomski fakultet Podgorica, 1997. Optional: 1. J. Kočović M. Pavlović Uvod u finansijsku matematiku, Ekonomski fakultet Beograd, 2010.
Examination methods	Test 50 points Final exam 50 points. The exam is passed if the total score is at least 50 points. Marks A B C D E Number of points 91-100 81-90 71-80 61-70 51-60
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / MANAGEMENT

Course:

MANAGEMENT/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
17	Obavezan	3	5	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
5 credits x 40/30=6 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 2 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 6 hour(s) i 40 minuts x 16 =106 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 6 hour(s) i 40 minuts x 2 =13 hour(s) i 20 minuts Total workload for the subject: 5 x 30=150 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 30 hour(s) i 0 minuts Workload structure: 106 hour(s) i 40 minuts (cources), 13 hour(s) i 20 minuts (preparation), 30 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ECONOMIC STATISTICS

Course:

ECONOMIC STATISTICS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
20	Obavezan	5	9	4+4+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	None
Aims	To introduce main macroeconomic issues to students, to learn how to measure macroeconomic activities, to understand interdependence among various macro variables using mathematics and econometric models
Learning outcomes	After passing this exam, students will be able to: 1.Quantify the value of the main macroeconomic aggregates; 2. Describe and analyze the basic macroeconomic problems and interdependence at the macro level; 3.Apply basic mathematical, statistical and econometric techniques and tools in the analysis of macroeconomic variables; 4.Create econometric models on a basic level, for the purpose of the analysis and creation of macroeconomic policy (fiscal and monetary policy); 5.Analyse and explain basic structural interdependence at the national level.
Lecturer / Teaching assistant	prof.dr Maja Bacovic dr Milena Lipovina Bozovic
Methodology	Lectures, exercises, tests

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Economic statistics, importance and relevance
I week exercises	Economic statistics, importance and relevance
II week lectures	Economic activities flows and methodological base of national accounts and macroeconomic models
II week exercises	Economic activities flows and methodological base of national accounts and macroeconomic models
III week lectures	Statistics of macroeconomic aggregates
III week exercises	Statistics of macroeconomic aggregates
IV week lectures	System of national accounts
IV week exercises	System of national accounts
V week lectures	Financial transactions, investments
V week exercises	Financial transactions, investments
VI week lectures	Macroeconomic models and integral market
VI week exercises	Macroeconomic models and integral market
VII week lectures	Preparation, test
VII week exercises	Preparation, test
VIII week lectures	Aggregate macroeconomic models, Consumption function, Investment
VIII week exercises	Aggregate macroeconomic models, Consumption function, Investment
IX week lectures	Fiscal policy, Open economy models
IX week exercises	Fiscal policy, Open economy models
X week lectures	Monetary models, IS-LM model, Mundel-Fleming model
X week exercises	Monetary models, IS-LM model, Mundel-Fleming model
XI week lectures	Aggregate supply
XI week exercises	Aggregate supply
XII week lectures	Input-output tables
XII week exercises	Input-output tables
XIII week lectures	Structural models and analysis
XIII week exercises	Structural models and analysis
XIV week lectures	Growth models
XIV week exercises	Growth models
XV week lectures	Preparation, test
XV week exercises	Preparation, test

Student workload	9 ECTS, 270 per semester, 12 per week
Per week	Per semester
9 credits x 40/30=12 hours and 0 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 4 excercises 4 hour(s) i 0 minuts of independent work, including consultations	Classes and final exam: 12 hour(s) i 0 minuts x 16 =192 hour(s) i 0 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 12 hour(s) i 0 minuts x 2 =24 hour(s) i 0 minuts Total workload for the subject: 9 x 30=270 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 54 hour(s) i 0 minuts Workload structure: 192 hour(s) i 0 minuts (cources), 24 hour(s) i 0 minuts (preparation), 54 hour(s) i 0 minuts (additional work)
Student obligations
Consultations	www.ekonomija.ac.me
Literature	Veselin Vukotić “Makroekonomski računi i modeli”, CID, 2001, 2006 Olivier Blanchard: Makroekonomija, Mate, Zagreb, 2005 Gregory Mankiw: Macroeconomics, sixth edition
Examination methods	Tests, says, final exam
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / MONETARY ECONOMICS

Course:

MONETARY ECONOMICS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
21	Obavezan	6	7	4+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes	Upon completion of this course, the student will be able to: 1. Explain economic and legal aspect of money, define money and credit and list functions of money and credit, look into the phenomenon and development of money, define and analyse monetary systems, interpret money supply and demand, sketch equilibrium on money market. 2. Analyse money supply and liquiditiy of macroeconomy, explain monetary aggregates, define structure and sectoral distribution of money supply, review optimal and necessary amount of money and speed of money flow. 3. Recognise creation 4. of money supply and concept of monetary base, analyse effects of imbalance of money supply, illustrate credit multiplication, calculate coefficients in multiplication sequences, categorise and explain financial innovations. 5. Look into basic characteristics and functions of money, briefly describe theories of money value, research into details theories of relation of money and prices, assess monetary (in)stability and (im)balance, explain the link among interest rate, inflation and domestic product. 6. Analyse causes and consequences of inflation, define and compare inflation and deflation, look into theories of inflation, formulate zone approach to inflation and deflation, compare anti-inflationary concepts, speak about consequences of deflation, explain Phillip’s curve. 7. Explain monetary system, point out and compare operational goals and indicators, analyse strategic choice and transmission mechanism of monetary policy, explain delay of measures of monetary policy and instruments of monetary policy. 8. Define and analyse foreign exchange market, foreign exchange and exchange rate, illustrate forming of exchange rate, analyse theories of forming exchange rate, explain change of intercurrency value of money, summarise types of currency convertibility. 9. Establish and provide argument for importance of international monetary system, defend and/or criticise functioning of international monetary (financial) institutions, speak about processes of European monetary and economic cooperation and functioning of EMU.
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
7 credits x 40/30=9 hours and 20 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 3 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 9 hour(s) i 20 minuts x 16 =149 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 9 hour(s) i 20 minuts x 2 =18 hour(s) i 40 minuts Total workload for the subject: 7 x 30=210 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 42 hour(s) i 0 minuts Workload structure: 149 hour(s) i 20 minuts (cources), 18 hour(s) i 40 minuts (preparation), 42 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / MARKETING

Course:

MARKETING/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
23	Obavezan	5	7	4+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	There are no prerequisites
Aims	Understanding basic theory and practice contemporary marketing and market operations for companies and organizations; The main objective of the course is to educate students how to effectively, efficiently and fairly achieve the mission, goals and strategies of the company in terms conditions of modern market economy; The role of marketing in contemporary business.
Learning outcomes
Lecturer / Teaching assistant	Božo Mihailović, Ph. D., Full professor Vladimir Đurišić, MSc
Methodology	Lectures and Exercises, Analysis of case studies, seminars, essays, discussions, consultations

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Marketing as business philosophy; mass marketing
I week exercises	Marketing as business philosophy; mass marketing
II week lectures	The new marketing age The fundmantal changes
II week exercises	The new marketing age The fundmantal changes
III week lectures	Markets and Marketing concept Relationships marketing concept
III week exercises	Markets and Marketing concept Relationships marketing concept
IV week lectures	Marketing environment Marketing information system
IV week exercises	Marketing environment Marketing information system
V week lectures	Market research The process of market research. Case study
V week exercises	Market research The process of market research. Case study
VI week lectures	Consumer behavior Market analysis and forecasting demand and sale
VI week exercises	Consumer behavior Market analysis and forecasting demand and sale
VII week lectures	Midterm exam Marketing mix
VII week exercises	Midterm exam Marketing mix
VIII week lectures	Product development
VIII week exercises	Product development
IX week lectures	New product and branding
IX week exercises	New product and branding
X week lectures	Price
X week exercises	Price
XI week lectures	Marketing channels
XI week exercises	Marketing channels
XII week lectures	Integrated marketing communications
XII week exercises	Integrated marketing communications
XIII week lectures	Marketing planning
XIII week exercises	Marketing planning
XIV week lectures	Organizations and control
XIV week exercises	Organizations and control
XV week lectures	International marketing Market aspects of purchase Midterm exam
XV week exercises	International marketing Market aspects of purchase Midterm exam

Student workload	per week 7 credits x 40/30 = 9,3o hours Structure: 4 hours of lectures 2 horus of exercise 3,30 of independent work including consultation per semester Total hours for the course: 7 x 30 = 210 hours Structure: Classes and the final exam: 9,30 x 16 weeks = 148,8 hours Necessary preparations before the start of the semester (administration, admission, verification): 8 x 2 = 16 hours Additional work for the preparation and examination re-sit period: 42,6 hours
Per week	Per semester
7 credits x 40/30=9 hours and 20 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 3 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 9 hour(s) i 20 minuts x 16 =149 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 9 hour(s) i 20 minuts x 2 =18 hour(s) i 40 minuts Total workload for the subject: 7 x 30=210 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 42 hour(s) i 0 minuts Workload structure: 149 hour(s) i 20 minuts (cources), 18 hour(s) i 40 minuts (preparation), 42 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes regularly and work planned tests. In addition, students are required to do practical and seminar
Consultations
Literature	Prof. dr Božo Mihailović, „Marketing, CPI, Podgorica, 2013 Ph. Kotler and oth.: Marketing Management, 2end ed., Pearson, 2012. Every textbook from marketing in Englesh Material from lectures and exercises
Examination methods	The structure of marks formed on the basis of the following elements: 1. Two tests - 25 points each (2 X 25 = 50 to points maximum) 2. Seminar with presentation (to 7 points) 3. Attendance and activity during classes (8 points) 4. Final (oral) or wr
Special remarks
Comment	Further information can be obtained from the subject teacher or via email

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / OPERATIONAL RESEARCH

Course:

OPERATIONAL RESEARCH/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
24	Obavezan	5	10	4+4+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	None
Aims	The course will provide a base for students of understanding how to use some of the most developed models of quantitative analysis for modeling and testing activities in economy and management
Learning outcomes
Lecturer / Teaching assistant	Associate professor Svetlana Rakočević, lecturer Tamara Backovic-Vulic, PhD, teaching assistant
Methodology	Lectures, tutorial, assignments and computer simulation

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Linear programming – introduction. Basic characteristics of linear programming models. The standard maximum problem. Applications of linear programming.
I week exercises	Linear programming – introduction. Basic characteristics of linear programming models. The standard maximum problem. Applications of linear programming.
II week lectures	Using the graphical method to solve linear programming problems. Using the simplex method to solve linear programming problems.
II week exercises	Using the graphical method to solve linear programming problems. Using the simplex method to solve linear programming problems.
III week lectures	Using the graphical method to solve linear programming problems – example. Non-standard maximum problem.
III week exercises	Using the graphical method to solve linear programming problems – example. Non-standard maximum problem.
IV week lectures	The minimujm problem – graphical and simplex method. Dual problem – formulation and solving methods.
IV week exercises	The minimujm problem – graphical and simplex method. Dual problem – formulation and solving methods.
V week lectures	Economic interpretation of dual problem – example. Simplex table – procedure for solving Linear programming problem.
V week exercises	Economic interpretation of dual problem – example. Simplex table – procedure for solving Linear programming problem.
VI week lectures	The Simplex table – example. Special cases in solving linear programming problems.
VI week exercises	The Simplex table – example. Special cases in solving linear programming problems.
VII week lectures	Dual simplex method. Integer linear programming – standard and mixed.
VII week exercises	Dual simplex method. Integer linear programming – standard and mixed.
VIII week lectures	Midterm exam.
VIII week exercises	Midterm exam.
IX week lectures	Postoptimal analysis – changing vector c, vector b and matrix A.
IX week exercises	Postoptimal analysis – changing vector c, vector b and matrix A.
X week lectures	Parameter linear programming – model formulation, graphical and analytical method.
X week exercises	Parameter linear programming – model formulation, graphical and analytical method.
XI week lectures	Linear-fractional programming – basic theorem, Charnes-Cooper and Marto's transformation.
XI week exercises	Linear-fractional programming – basic theorem, Charnes-Cooper and Marto's transformation.
XII week lectures	Transportation problem – basic theorem and finding initial solution.
XII week exercises	Transportation problem – basic theorem and finding initial solution.
XIII week lectures	Transportation problem – finding optimal solution using stepping stone method and modified distribution method. Open transport problem.
XIII week exercises	Transportation problem – finding optimal solution using stepping stone method and modified distribution method. Open transport problem.
XIV week lectures	Transportation problem using network programming. Game theory with pure strategies.
XIV week exercises	Transportation problem using network programming. Game theory with pure strategies.
XV week lectures	Game theory with mixed strategies. Solving matrix games.
XV week exercises	Game theory with mixed strategies. Solving matrix games.

Student workload	Per week: 10 ECTS credits x 40/30 = 13.33 hours Structure: 4 hours for lectures 4 hour of tutorial 5.33 hours of homework and consultancy. Per semester: Total workload per course 10ECTSx30 = 300 hours Structure: Lectures and final exam: 13.33x16 weeks= 213 hours Preparation before the start of semester (administration work): 13.33x2 weeks= 26 hours. Additional work to prepare and take the additional term for exams: 300-(213+26)=61 hours
Per week	Per semester
10 credits x 40/30=13 hours and 20 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 4 excercises 5 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 13 hour(s) i 20 minuts x 16 =213 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 13 hour(s) i 20 minuts x 2 =26 hour(s) i 40 minuts Total workload for the subject: 10 x 30=300 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 60 hour(s) i 0 minuts Workload structure: 213 hour(s) i 20 minuts (cources), 26 hour(s) i 40 minuts (preparation), 60 hour(s) i 0 minuts (additional work)
Student obligations	Taking lectures and exercises, making term papers, doing the homework
Consultations	Available information at website and notice board.
Literature	1.Rakočević S., Backović M., „Operaciona istraživanja“, Ekonomski fakultet, Podgorica, 2003 2. Rakočević S., „Operaciona istraživanja-zbirka zadataka“- Ekonomski fakultet, Podgorica, 1996 3.Levin R., Rubin D.,“ Quantitative Approaches to Manegement“ Mc
Examination methods	Assessment methods: I test .....................................................30% of final grade II test................................................... 30% of final grade To passed the test, student need to correctly do minimum 50% of every
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / FINANCIAL MANAGEMENT

Course:

FINANCIAL MANAGEMENT/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
26	Obavezan	7	5	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	None
Aims	Financial Management provides an overview of basic theoretical concepts necessary for understanding the management of firm finance.
Learning outcomes	After passing this exam, the student will be able to: 1. Define and present the basic theoretical concepts needed to understand and manage the company finances. 2. Explain structure of the financial statements and the procedure of financial decision making. 3. Evaluate financial position of a company. 4. Analyze the role of financial markets and its role in financing business. 5. Conduct the investment projects evaluation using capital budgeting techniques. 6. Forecasting financial statements.
Lecturer / Teaching assistant	Saša Popović, Ph.D., Ana Mugoša, M.Sc.
Methodology	Lectures and Exercises, Case studies

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction to Financial management: - Introduction with lecturers and study programme - The firm and its mission - Value, price and risk - Agency problem
I week exercises	Practical analysis of basic financial statements
II week lectures	Financial decisions and financial function: - Compilation and interpretation of Financial reports - Financial decisions - The role of Finance function
II week exercises	Liquidity and short-term financial equilibrium anaysis
III week lectures	Financial management function: - Financial function scope - The relation between financial and other functions inside the firm - The organization of financial function
III week exercises	Financial structure and long-term financial equilibrium anaysis
IV week lectures	Financial policy and funding rules: - Financial policy - Funding principles - Funding rules
IV week exercises	Practical analysis of assets activity ratios
V week lectures	Liquidity and liquidity policy: - Understanding and measuring liquidity
V week exercises	Practical analysis of profitability ratios
VI week lectures	Financial markets: - Relation between financial reports and financial markets - Money and Capital markets instruments - Capital market - Institutional and individual investors - Market efficiency
VI week exercises	Practical analysis of market ratios
VII week lectures	Sources of corporate funds: - External and internal sources of financing
VII week exercises	Practical preparation for the midterm exam
VIII week lectures	Midterm exam
VIII week exercises	Analytical interpretation of break-even point
IX week lectures	Crediting: - Types of credits - Interest rate – credit price - Interest rate calculation
IX week exercises	Forecasting Balance Sheet - minimal acumulation
X week lectures	Specific types of financing - Factoring - Forfeiting - Franchising - Leasing
X week exercises	Forecasting Balance Sheet - maximal acumulation
XI week lectures	Corporate Financial Planning - The process of financial planning - Compilation of planned financial reports - Breakeven point and financial planning
XI week exercises	Forecasting Income Statement
XII week lectures	Operating and financial risk - Leverage definition - Operational leverage - Financial leverage - Total leverage
XII week exercises	Quantitative analysis of operating, financial and total leverage
XIII week lectures	Definition and quantification of long-term investment effects, I part - Definition and quantification of long-term investment effects - Assessment of long-term investment profitability
XIII week exercises	Evaluation of long-term investment: practical analysis
XIV week lectures	Definition and quantification of long-term investment effects, II part
XIV week exercises	Software simulation of long-term investment process evaluation
XV week lectures	Strategy and tactics of financial management
XV week exercises	Endterm exam

Student workload	per week 5 ECTS x 40/30=6.66 hours Structure: 2 hours of lectures 2 hours of exercises 2.66 hours of individual work and consultations per semester Total course workload: 5ECTS x 30 =150 hours Structure: Lectures and Final exam: 6.66 x 16 weeks= 106 hours Necessary preparations before beginning of semester: (administration, enrollment and verification): 6.66x 2 weeks=13.3 hours Additional hours for preparation and examination in second exam term 30.7 hours
Per week	Per semester
5 credits x 40/30=6 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 2 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 6 hour(s) i 40 minuts x 16 =106 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 6 hour(s) i 40 minuts x 2 =13 hour(s) i 20 minuts Total workload for the subject: 5 x 30=150 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 30 hour(s) i 0 minuts Workload structure: 106 hour(s) i 40 minuts (cources), 13 hour(s) i 20 minuts (preparation), 30 hour(s) i 0 minuts (additional work)
Student obligations	Compulsory attendance to lectures and exercises.
Consultations	in scheduled term
Literature	Van Horne, J. C. i Wachowicz, J. M.: „Osnove finansijskog memanžmenta“, Data Status, Beograd, 2006. Rodić, J. i Filipović, M.: „Poslovne finansije“, Asimex, Beograd, 2006
Examination methods	Lecture activities 2 points Written exam I part po 25 points Written exam II part 25 points Final exam 48 points
Special remarks
Comment	• Lectures and exercises can be held in English. • For the purpose of this course we launched website www.finansije.net

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / MODEL OF GROWTH AND TECHNICAL PROGRESS

Course:

MODEL OF GROWTH AND TECHNICAL PROGRESS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
45	Izborni	6	2	2+0+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
2 credits x 40/30=2 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 0 excercises 0 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 2 hour(s) i 40 minuts x 16 =42 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 2 hour(s) i 40 minuts x 2 =5 hour(s) i 20 minuts Total workload for the subject: 2 x 30=60 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 12 hour(s) i 0 minuts Workload structure: 42 hour(s) i 40 minuts (cources), 5 hour(s) i 20 minuts (preparation), 12 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ECONOMETRICS

Course:

ECONOMETRICS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
46	Obavezan	7	5	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
5 credits x 40/30=6 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 2 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 6 hour(s) i 40 minuts x 16 =106 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 6 hour(s) i 40 minuts x 2 =13 hour(s) i 20 minuts Total workload for the subject: 5 x 30=150 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 30 hour(s) i 0 minuts Workload structure: 106 hour(s) i 40 minuts (cources), 13 hour(s) i 20 minuts (preparation), 30 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / INTERNATIONAL ECONOMICS

Course:

INTERNATIONAL ECONOMICS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
47	Obavezan	7	7	4+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	Economics-basic level
Aims	Understanding trends in the international economy, both theory and practice
Learning outcomes	Learning outcomes With the completion of this course, students will be able to: - Identify the causes of international trade, the effects of trade and distribution effects to the domestic and international level. - examine the various trade policy instruments and the consequences of their implementation (customs and quantitative measures) - Explain the functioning of international financial markets - Understand the motives that lead to increased international integration and regional integration, as well as the arguments of resistance to it. - Develop analytical skills that will help them theoretical knowledge and practical application analysis tablespoons of these problems in the international economy.
Lecturer / Teaching assistant	Prof. dr Danijela Jaćimović Mr. Vladimir Đurišić
Methodology	Lectures, exercises, case studies, essays, discussions.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction into the international economics and its effects on economic growth
I week exercises	The international economics and its effects on economic growth-discusion
II week lectures	Classic theories of foreign trade
II week exercises	Classic theories of foreign trade-math application
III week lectures	H-O-S theory and contemporary theories of foreign trade
III week exercises	H-O-S theory and contemporary theories of foreign trade-math application
IV week lectures	Tariff and non-tariff trade barriers
IV week exercises	Tariff and non-tariff trade barriers-discussion Montenegro examples
V week lectures	Institutional forms of international trade regulation
V week exercises	Montenegro membership in WTO-analysis of effects
VI week lectures	Student debate
VI week exercises	Student debate and preparation for the Test I
VII week lectures	Test I
VII week exercises	Test I
VIII week lectures	International Monetary System – history
VIII week exercises	Detail analyses of these concepts
IX week lectures	The international monetary system - present and future
IX week exercises	Detail analyses of these concepts
X week lectures	International capital flow and Multinational corporations
X week exercises	Case studies
XI week lectures	Balance of payments
XI week exercises	Montenegro Balance of payments-analysis
XII week lectures	Economic integration: Customs union and Free trade area
XII week exercises
XIII week lectures	Attempts to create economic integration - EU, NAFTA, MERCOSUR; ASEAN
XIII week exercises	CEFTA effects
XIV week lectures	The Origins and effects of European Integrations
XIV week exercises	Preparation for the Test II
XV week lectures	Test II
XV week exercises	Test II

Student workload	STUDENT WORKLOAD per week 7 credits x 40/30 = 9.31h Structure: 4 hours of lectures 2 hours of exercises 3.31 hours for independent work, including consultations per semester Total hours for the course: 7 ECTSx30 = 210 hours Structure: Teaching and final exam: 9.31x16weeks = 148 sati Necessary preparation before the start of the semester (administration, regisration, verification): 9.31x2= 18.62 hours. Additional work to prepare the Make-Up Exam: 43 hours
Per week	Per semester
7 credits x 40/30=9 hours and 20 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 3 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 9 hour(s) i 20 minuts x 16 =149 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 9 hour(s) i 20 minuts x 2 =18 hour(s) i 40 minuts Total workload for the subject: 7 x 30=210 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 42 hour(s) i 0 minuts Workload structure: 149 hour(s) i 20 minuts (cources), 18 hour(s) i 40 minuts (preparation), 42 hour(s) i 0 minuts (additional work)
Student obligations	Lectures, exercises, case studies, essays, discussions
Consultations	After clases
Literature	1.International Economics by Dominick Salvatore, translate: Faculty of Economics, Belgrade, 2009. 2. Introduction to the European Union by D. Jacimovic, Faculty of Economics, Podgorica, 2015. 3. All available sources on international economics
Examination methods	Test I....................... .24% Test II.........................30% Final exam.................30%, Esey ........................6% and
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ECONOMIC DEVELOPMENT

Course:

ECONOMIC DEVELOPMENT/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
48	Obavezan	7	6	4+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	No
Aims	The study of theory, policy and planning of economic development of contemporary economic systems, with special emphasis on the policy of economic development in Montenegro
Learning outcomes	With the end of the course "Economic development" student: • Knows and understands the issues and concepts of economic growth and economic development, the theory of economic development, goals, indicators, factors and strategies of economic development • knows and understands the development policy of contemporary market economies, development function of the key economic policies (monetary, fiscal, foreign trade, environmental, innovative), and a system of macro-economic management and development planning; • Has a knowledge and understanding of economic development of Montenegro through the development period and a critically analysis the internal and external limits of modern economic development of the country and the region; • Applies knowledge acquired from theory and policy of economic development in the analysis of a model of development and development policy in Montenegro; • Has knowledge and understanding of the European integration process of Montenegro as a framework for managing of the development policy; understands the importance of adjustment of macroeconomic management model to model of the EU economic governance; • Understand the process and reasons for joining the EU and has a critical observation of changes of Montenegro’s development policy and economic performances in that context (benefits and costs of integration into the EU macro-system); • Knows how to use professional literature in the field of economic development and European integration , correctly interprets the findings of published research through writing papers, essays and in a debate;
Lecturer / Teaching assistant	professor Gordana Djurovic, PhD. ; Milica Muhadinovic, assistant;
Methodology	Classical lectures and exercises. Talk and explanations during the lectures, together with the analysis of macroeconomic topics in economic development of Montenegro including seminars and student presentations on exercises. Two e-tests and the final exam is planned.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction to the course: economic growth and economic development
I week exercises	Introduction to the method of work and work plan; Plan of the semester;
II week lectures	Significant theories of the economic growth and the economic development;
II week exercises	The economic growth and the economic development; examples; disucssion;
III week lectures	Goals and indicators of the economic development;
III week exercises	Selected economic development indicators for different countries and group of countries; Selected ecological-economic indicators (ecological footprint, indicator of domestic material consumption, level of construction indicator, etc.)
IV week lectures	Factors of the economic development;
IV week exercises	Factors of the economic development - selected cases; discussion;
V week lectures	Economics cycles; Strategies of the economic development;
V week exercises	Cases of economic development strategies; Montenegro's development directions in medium term ; sector strategies; discussion;
VI week lectures	Development and underdevelopment; Poverty and development gaps;
VI week exercises	Poverty measurement; International statistics (UN, WB); Test;
VII week lectures	Spontaneous and planned/conscious macroeconomic regulations; Basis of the development theories of market economies;
VII week exercises	Annual economic policy programme; Macroeconomic guidelines; discussion;
VIII week lectures	Problems and policies: internal and external aspect; Developmen function of the fiscal policy; The role of monetary policy in shaping real economic flows;
VIII week exercises	Development dimension of the fiscal policy in Montenegro; Fiscal indicators; Monetary policy in Montenegro - specifics; discussion;
IX week lectures	Foreign trade policy in the function of shaping economic development performance;
IX week exercises	Foreign trade policy - strategic documents; Barriers to trade; discussion;
X week lectures	Innovation policy ; Environmental policy;
X week exercises	Sustainable development strategy of Montenegro; Scientific-research strategy of Montenegro; Innovation policy; discussion;
XI week lectures	Macroeconomic planning as a subsystem of macro-economic management ;
XI week exercises	Macroeconomic guidelines of Montenegro; Growth and competitiveness programme; Structural reforms; Test;
XII week lectures	Profile of economic development, economic structure and development policy of Montenegro;
XII week exercises	Swot analysis; Regional development strategy; Economic development throught development of clusters; presentation of seminars; discussion;
XIII week lectures	EU economic governance and reflection on Montenegro;
XIII week exercises	Economic reform programme in Montenegro and Western Balkans countries; Industrial policy in Montenegro;
XIV week lectures	Accession to the EU as development framework of the Region (FDI driven model, export driven model or EU guidelines led development model);
XIV week exercises	Accession talk with the EU in economic chapters; Preparation for the EU cohesion policy; discussion; presentation of seminars;
XV week lectures	European integrations of Montenegro, Pre-accession economic programes and strategic development documents; Financial aspects of integrations;
XV week exercises	Coordination of the EU accession process and development policy in country; Cost-benefit of european economic integrations; discussion; presentation of seminars; Correction of e-tests;

Student workload	Per week: working hours: 6 credits x 40/30 = 8 hours; Working hours structure: 4 hours for teaching, 2 hours for exercises, 2 hours for individual work, including consultations; Per semester: total working hours for the course: 6 ECTSx30 =180 hours; Working hours structure:Teaching and the final exam: 8x16 weeks = 128 hours Necessary preparation (administration before semester): 8x2= 16 hours. Additional hours for preparing correction of the final exam, including the exam taking: up to 36 hours
Per week	Per semester
6 credits x 40/30=8 hours and 0 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 2 hour(s) i 0 minuts of independent work, including consultations	Classes and final exam: 8 hour(s) i 0 minuts x 16 =128 hour(s) i 0 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 8 hour(s) i 0 minuts x 2 =16 hour(s) i 0 minuts Total workload for the subject: 6 x 30=180 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 36 hour(s) i 0 minuts Workload structure: 128 hour(s) i 0 minuts (cources), 16 hour(s) i 0 minuts (preparation), 36 hour(s) i 0 minuts (additional work)
Student obligations	Lessons attendance is mandatory for students, as well as participating in debates and doing e-tests; seminar optional, based on student's interest;
Consultations	Prof dr Gordana Đurović - Monday 16.30-18.30 h, Cabinet 207 / II floor; E-mail - gordana@t-com.me ; Milica Muhadinovic – Friday, 14-15 h, Cabinet 421/IV floor;
Literature	Cvetanović Slobodan, Đurović Gordana: Privredni razvoj, I i II dio , Ekonomski fakultet, Podgorica, 2014; Djurović Gordana, Upravljanje razvojem i evropske integracije, III dio, Ekonomski fakultet, Podgorica, 2014; Additional literature: Michael P. Todar
Examination methods	• Two e-tests, each carries 30 points (60 points in total, minimum 15 points per electronic test) , multiple-choice questions, to select one, • Activities on classes up to 11 points (seminar, presentation, discussion); • Final exam is oral and carries
Special remarks	No
Comment	Additional info about the course on E-mail of teacher: gordana@t-com.me

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ENTERPRENEURSHIP

Course:

ENTERPRENEURSHIP/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
49	Obavezan	8	6	4+4+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	Business
Aims	The main objective of the course is to enable students to understand the importance and the role of entrepreneurship in todays business environment, as well as mastering the basic knowledge and key skills to start and successfully run their own business. The intention is to train the students for independent assessment of business opportunities, their market valuation, assessment of their own entrepreneurial skills, as well as the modeling of a business plan, which creates prerequisites for successful entrepreneurial management not only in the context of small entrepreneurial ventures, but also the actual economic environment major organizations.
Learning outcomes	After passing the exam a student will be able to: - refine his/her way of thinking and broaden a set of entrepreneurial skills - evaluate and implement successful entrepreneurial strategies - assess and take innovative chances in launching and developing successful new businesses
Lecturer / Teaching assistant	Mirjana Kuljak Dragana Ćirović
Methodology	Lectures, workshops, exercises, tests, seminars, guest lecturers

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction to and anatomy of entrepreneurship; theories of entrepreneurship
I week exercises	Introduction to and anatomy of entrepreneurship; theories of entrepreneurship
II week lectures	Entrepreneurial thinking and the nature of entrepreneurship
II week exercises	Entrepreneurial thinking and the nature of entrepreneurship
III week lectures	Profile of successful entrepreneurs / Entrepreneurs - the great strength of small business
III week exercises	Profile of successful entrepreneurs / Entrepreneurs - the great strength of small business
IV week lectures	Entrepreneurial process
IV week exercises	Entrepreneurial process
V week lectures	Steps towards entrepreneurship
V week exercises	Steps towards entrepreneurship
VI week lectures	Nature of Business Opportunities
VI week exercises	Nature of Business Opportunities
VII week lectures	Resources in entrepreneurship
VII week exercises	Resources in entrepreneurship
VIII week lectures	Entrepreneurial business and entrepreneurial organizations
VIII week exercises	Entrepreneurial business and entrepreneurial organizations
IX week lectures	Enterprise Crisis - types, causes and effects
IX week exercises	Enterprise Crisis - types, causes and effects
X week lectures	The importance of the success of entrepreneurial ventures
X week exercises	The importance of the success of entrepreneurial ventures
XI week lectures	Business plan as an entrepreneurial tool
XI week exercises	Business plan as an entrepreneurial tool
XII week lectures	Initiating a new business
XII week exercises	Initiating a new business
XIII week lectures	Financing business, alternatives of business creation
XIII week exercises	Financing business, alternatives of business creation
XIV week lectures	Concluding lecture
XIV week exercises	Concluding exercises
XV week lectures	Final exam
XV week exercises	Final exam

Student workload	Weekly: 8 hours Structure: 4 hours for lectures 2 hours for exercises 2 hours of stand-alone work, including consultations. Per semester: Total load for subject 5x30 = 150 hours Structure: Teaching and final exam: 8x16nedelja = 128 hours Necessary preparation before the beginning of the semester (administration, enrollment, validation): 5x2 = 10 hours. Additional work for preparing and taking the exam in the correction period: 12 hours
Per week	Per semester
6 credits x 40/30=8 hours and 0 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 4 excercises 0 hour(s) i 0 minuts of independent work, including consultations	Classes and final exam: 8 hour(s) i 0 minuts x 16 =128 hour(s) i 0 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 8 hour(s) i 0 minuts x 2 =16 hour(s) i 0 minuts Total workload for the subject: 6 x 30=180 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 36 hour(s) i 0 minuts Workload structure: 128 hour(s) i 0 minuts (cources), 16 hour(s) i 0 minuts (preparation), 36 hour(s) i 0 minuts (additional work)
Student obligations	Workshops, homework, tests, presentations
Consultations	In a predetermined term for lecturers
Literature	Basic: • Doc. Dr. Dragan Lajovic and associates, Entrepreneurship, selected parts, hrestomatija, Faculty of Economics, Podgorica, 2012. • Material for the classes - selected parts of the latest literature on the business enterprise Supplementary: • E
Examination methods	A student has passed the course by cumulatively attaining minimum of 50 points. Points by activities: colloquium: 50 points; final exam: 50 points.
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / TECHNOLOGY AND INOVATIONS

Course:

TECHNOLOGY AND INOVATIONS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
50	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / PORTFOLIO MANAGEMENT

Course:

PORTFOLIO MANAGEMENT/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
52	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	None
Aims	Portfolio Management provides an overview of basic theoretical concepts and analytical procedures necessary for understanding and managing financial assets. After completing this course the students will be able to understand and to analytically judge the process of portfolio management, than they will be able to construct financial portfolio, to optimize it and to evaluate portfolio performances.
Learning outcomes	After passing this exam, the student will be able to: 1. Define the model for calculating return and risk of individual securities and financial portfolios. 2. Describe and solve the problem of the financial portfolio optimization. 3. Evaluate basic models of financial portfolio risk management. 4. Analyze and draw conclusions on capital markets efficiency. 5. Critically think about the concept of the capital market equilibrium and compare various forms of equilibrium models. 6. Give the arguments for specific portfolio strategy selection, and devise appropriate structure of the portfolio according to investors’ risk profile.
Lecturer / Teaching assistant	Saša Popović, Ph.D., Jelena Jovović
Methodology	Lectures and Practical Exercises, Case studies

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction to Portfolio Management
I week exercises	Practical check of basic statistical concepts and indicators knowledge
II week lectures	Models for risk and returns assessments
II week exercises	Quantitative analysis of securities risk and return models
III week lectures	Basic statistical concept and its portfolio implementation
III week exercises	Practical exercise - basic statistical concepts and indicators in portfolio management
IV week lectures	General characteristics of financial portfolio
IV week exercises	Risk and return of portfolio - calculation in Excel
V week lectures	Combination of two risky assets - example of basic financial portfolio
V week exercises	Qualitative and Quantitative analysis of two risky assets combination
VI week lectures	Graphical interpretation of probable portfolio outcomes
VI week exercises	Qualitative and Quantitative analysis of risky and risk-free assets combination
VII week lectures	Portfolio optimization
VII week exercises	Software simulation of portfolio optimization-minimum variance portfolio
VIII week lectures	Preparation for the midterm exam
VIII week exercises	Practical preparation for the midterm exam
IX week lectures	Midterm exam
IX week exercises	Software simulation of portfolio optimization-minimum variance portfolio
X week lectures	International diversification
X week exercises	Practical implementation of CAPM
XI week lectures	Capital market efficiency , Part I
XI week exercises	Practical implementation of CAPM
XII week lectures	Capital market efficiency , Part II
XII week exercises	Software simulation of CAPM
XIII week lectures	Capital Market equilibrium models
XIII week exercises	Software simulation of Capital Market equilibrium models
XIV week lectures	Portfolio strategies and Global concept of portfolio management
XIV week exercises	Practical examination and quantitative analysis of portfolio management global concept
XV week lectures	Preparation of the Endterm exam
XV week exercises	Endterm exam

Student workload	per week 4 ECTS x40/30=5 hours and 20 minutes Structure: 90 min. of lectures 90 min. of exercises 2 hours and 20 mins hours of individual work and consultations per semester Total course workload: 5 hours and 20 mins x 16= 85 hoursa and 20 mins. Total course workload: : 4 ECTSx30=120 hours Necessary preparations before begining of semester: (administration, enrollment and verification): 2x5h and 20 mins = 10 h and 40 mins. Additional hours for preparation and examination in second exam term: 24 h Structure: 85 h and 20 mins (Lectures) + 10h and 40 mins (Preparatory work) + 24h (Additional work)
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Compulsory attendance to lectures and excersises, case studies, and homeworks
Consultations	in scheduled terms
Literature	Popovic, Sasa: Portfolio analysis – quantitative aspects of investing in securities, Podgorica, 2000. Brentani, Christine: Portfolio Management in Practice, Butterworth-Heinemann Ltd., 2004.
Examination methods	Lecture activities 2 points Written exam I part 25 points Written exam II part 25 points Final exam 48 points
Special remarks
Comment	• For the purpose of this course computer room necessary. • Lectures and exercises can be held in English. • For the purpose of this course we launched a web site www.finansije.net

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / FISCAL POLICY

Course:

FISCAL POLICY/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
54	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / FISCAL POLICY

Course:

FISCAL POLICY/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
54	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / BANKING MANAGEMENT

Course:

BANKING MANAGEMENT/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
55	Obavezan	8	6	4+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	None
Aims	Understanding complex bank functioning in financial system and overall economy, based on the prerequisites of bank sustainability and risk management in bank business.
Learning outcomes	Upon completion of this course, the student will be able to: 1. Classify financial institutions, define financial and bank system, define bank based on different criteria, compare traditional and modern banking, briefly describe cooperative banking. 2. Point out functions of a modern bank, illustrate and interpret balance of payments and success of commercial and investment banks, look into and justify reasons of interest for bank operations, briefly describe organisational forms of banks. 3. Define liquidity, solvency and profitabiity, briefly describe strategies of managing liquidity, make a balance review of managing liquidity, illustrate calculation of profit rate, explain managing capital in banks. 4. Speak about legal aspect of banks, classify procedures and instruments in electronic banking, explain international bank operations, interpret and define significance of a banking brand, describe relevant methodology of ranking leading banks. 5. Critically assess organisational structures in banks, point out synergy effect in linking of banks, illustrate market and profit efficiency in restructuring, analytically value mergers and acquisitions in banking. 6. Analyse individual and system bank crises, explain causes of crises, interpret theoretical approach to bank crises, discuss indicators of bank crises from different sectors. 7. Present managing of banking risks, compare bank and trade books, show method of managing of interest rate risk, define and explain the model of facing market risk, reproduce the manner of measuring credit risk. 8. Classify and describe bank operations according to different criteria, point especially to significance of credit and deposit activities in banks, present managing of payment operations affairs in the country and abroad.
Lecturer / Teaching assistant	Dr Slobodan Lakić (professor), Jelena Jovović (assistant)
Methodology	Classical teaching methods

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Bank positioning according to intermediary and economic functions
I week exercises	Periodization of bank firm
II week lectures	Commercial banks balance sheet and statement of income analysis
II week exercises	Strategic management process of bank
III week lectures	Investment banking - fundamental apprroach
III week exercises	Efficiency of capital management
IV week lectures	Bank liquidity - policy and techniques of management
IV week exercises	Central bank functions and organization
V week lectures	Bank solvency and profitability
V week exercises	Electronic funds transfer. Electronic money
VI week lectures	Banks and financial markets
VI week exercises	Models of banking system. Islamic banking
VII week lectures	Concentration in banking - mergers and measures of concentration
VII week exercises	Bank marketing - concept and management
VIII week lectures	Banking brend. Legal aspect of bank functioning
VIII week exercises	Structure of international banking
IX week lectures	Interest rate risk. Off balance sheet risk. Liquidity risk
IX week exercises	Classification of passive bank businesses
X week lectures	Credit risk
X week exercises	Deposit businesses. Banks borrowings. Short term securities issuing.
XI week lectures	Bank crisis
XI week exercises	Financial i credit potential of bank
XII week lectures	Credit policy and management
XII week exercises	Classification of neutral banking businesses
XIII week lectures	Household and company credit. Credit securitization
XIII week exercises	Bank payment operations
XIV week lectures	Hedging in banking. Derivative markets and instruments.
XIV week exercises	Bank guarantee. International documentary acreditive
XV week lectures	Futures, forwards, option and swaps in banking business
XV week exercises	Factoring, forfaiting, leasing

Student workload
Per week	Per semester
6 credits x 40/30=8 hours and 0 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 2 hour(s) i 0 minuts of independent work, including consultations	Classes and final exam: 8 hour(s) i 0 minuts x 16 =128 hour(s) i 0 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 8 hour(s) i 0 minuts x 2 =16 hour(s) i 0 minuts Total workload for the subject: 6 x 30=180 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 36 hour(s) i 0 minuts Workload structure: 128 hour(s) i 0 minuts (cources), 16 hour(s) i 0 minuts (preparation), 36 hour(s) i 0 minuts (additional work)
Student obligations	None
Consultations	Once a week
Literature	Bankking - M. Ćirović; Additional papers - S. Lakić, D. Šehović, J. Jovović
Examination methods	Mid-term test Written exam
Special remarks	None
Comment	None

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / RISK AND INSURANCE

Course:

RISK AND INSURANCE/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
57	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	no
Aims	Introduction and understanding economic, mathematic and legal aspects of insurance
Learning outcomes	After completion of this course the student will be able to: 1. Define risk, appoint to the forms and to phases of risk management. 2. Define Insurance, appoint functions, elements and tasks of the technical organization of insurance. 3. Indicate the forms of organization of insurance companies, persons in insurance and insurance documents. 4. Describe and classify the types of property and life insurance. 5. Define coinsurance and reinsurance. 6. Explain the principles of property insurance, to calculate of insurance benefit, as well as the tariffs of non-life insurance. 7. Explain the pension and health insurance. 8. Describe guarantee and technical reserves in insurance and indicate the types of investments. 9. Calculate the net and gross premium for the different types of life insurance.
Lecturer / Teaching assistant	Vladimir Kašćelan, full professor and Milijana Novovic Buric, assistant professor
Methodology	lectures and exercises

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Risk as an basic element of insurance. Definitions and classifications of risks. Risk, uncertainty, hazard.
I week exercises	Risk as an basic element of insurance. Definitions and classifications of risks. Risk, uncertainty, hazard.
II week lectures	Risk management – phases and rules of risk management
II week exercises	Risk management – phases and rules of risk management
III week lectures	Role, functions and definitions of insurance. Elements and tasks of technical organization of insurance
III week exercises	Role, functions and definitions of insurance. Elements and tasks of technical organization of insurance
IV week lectures	Organizational structure of insurance company. Documents and persons in insurance.
IV week exercises	Organizational structure of insurance company. Documents and persons in insurance.
V week lectures	Basic elements of insurance ( risk, premium, sum insured, insurance case, insurance benefit)
V week exercises	Basic elements of insurance ( risk, premium, sum insured, insurance case, insurance benefit)
VI week lectures	Type of insurance. Reinsurance. Coinsurance. Simple and aggregate excess
VI week exercises	Type of insurance. Reinsurance. Coinsurance. Simple and aggregate excess
VII week lectures	Type of nonlife insurance. Principles of property insurance. Sum insured and insurance benefit. Doubleand multiply insurance.
VII week exercises	Type of nonlife insurance. Principles of property insurance. Sum insured and insurance benefit. Doubleand multiply insurance.
VIII week lectures	Test I
VIII week exercises	Test I
IX week lectures	Life insurance
IX week exercises	Life insurance
X week lectures	Make-up test I
X week exercises	Make-up test I
XI week lectures	Pension and health insurance
XI week exercises	Pension and health insurance
XII week lectures	Definitions and elements of insurance premium. Objectives and factors of determining insurance premium
XII week exercises	Definitions and elements of insurance premium. Objectives and factors of determining insurance premium
XIII week lectures	Nonlife insurance premium. Structure and calculation of nonlife premium.
XIII week exercises	Nonlife insurance premium. Structure and calculation of nonlife premium.
XIV week lectures	Life insurance premium. Mortality table. Actuarial basis of calculation of premium rates.
XIV week exercises	Life insurance premium. Mortality table. Actuarial basis of calculation of premium rates.
XV week lectures	Test II / Make-up test II
XV week exercises	Test II / Make-up test II

Student workload	per week 4 credits x 40/30 = 5,3 hours Structure: 2 hours of lectures 2 hours of exercises 1,3 hour of independent work including consultation per semester 4x30=120 hours Structure: Lectures and final exams: 5,3x16= 85,3 hours Preparation before the start of semester (administration, enrolment): 5,3x2 = 10,6 hours. Additional work - preparation for the corrective exam period: 24,1 hours
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes, take tests and exams
Consultations	After classes
Literature	Mandatory: V.Kašćelan M.Novović „Osiguranje i aktuarska matematika“, Univerzitet Crne Gore Podgorica, 2009. Additional: dr Boris Marović i dr Veselin Avdalović , «Osiguranje i uravljanje rizikom», II dopunjeno izdanje, Subotica 2004; J.Kočović P.Šulej
Examination methods	Test I - 30 points, Test II- 30 points, essay - 10 points, final exam -30 points Grade: A B C D E Points: 90-100 80-89 70-79 60-69 50-59
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / HUMAN RESOURCE MANAGEMENT

Course:

HUMAN RESOURCE MANAGEMENT/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
60	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / TRAFFICS MANAGEMENT

Course:

TRAFFICS MANAGEMENT/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
63	Izborni	4	2	2+0+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	For successful studying of this course certain knowledge of the basic economic disciplines and in the field of management is needed.
Aims	The leitmotif of teaching the subject Transport Management is to provide students with basic knowledge of transport management which, no doubt, is one of the most important economic activities in modern conditions.
Learning outcomes
Lecturer / Teaching assistant	Prof.dr Ljubinko Dedović
Methodology	Topics important both from the theoretical and practical points of view are to be studied. For their processing some preparation is necessary, which includes reading of appropriate texts. Theoretical preparation will allow class discussions on theoretical and practical issues in the field of transport economics.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	The importance of transport management
I week exercises	The importance of transport management
II week lectures	Defining the concept of transport. Forms and types of transport.
II week exercises	Defining the concept of transport. Forms and types of transport.
III week lectures	Traffic Market – Characteristics and specificity of transport services. Characteristics and specificities of the demand for transport services. Characteristics and specificities of the transport supply.
III week exercises	Traffic Market – Characteristics and specificity of transport services. Characteristics and specificities of the demand for transport services. Characteristics and specificities of the transport supply.
IV week lectures	Specificities of establishing balance in the transport market. The concept and characteristics of the transport market.
IV week exercises	Specificities of establishing balance in the transport market. The concept and characteristics of the transport market.
V week lectures	Modern transport policy – General framework for defining the transport policy. Transport regulation
V week exercises	Modern transport policy – General framework for defining the transport policy. Transport regulation
VI week lectures	Liberalization and deregulation of transport markets. The concept and scope of deregulation of transport markets.
VI week exercises	Liberalization and deregulation of transport markets. The concept and scope of deregulation of transport markets.
VII week lectures	Harmonization of economic conditions.
VII week exercises	Harmonization of economic conditions.
VIII week lectures	Midterm test
VIII week exercises	Midterm test
IX week lectures	European Union Transport Policy in the modern period
IX week exercises	European Union Transport Policy in the modern period
X week lectures	The cost prices of transport services and the factors on which they depend
X week exercises	The cost prices of transport services and the factors on which they depend
XI week lectures	Formation of prices and pricing policy in transport - general approach and principles of the formation of transport prices. Railway tariffs and tariff policies.
XI week exercises	Formation of prices and pricing policy in transport - general approach and principles of the formation of transport prices. Railway tariffs and tariff policies.
XII week lectures	Formation of prices and pricing policy in maritime transport. Pricing in air transport.
XII week exercises	Formation of prices and pricing policy in maritime transport. Pricing in air transport.
XIII week lectures	Transport as a factor in tourism development
XIII week exercises	Transport as a factor in tourism development
XIV week lectures	Transport Policy in Montenegro
XIV week exercises	Transport Policy in Montenegro
XV week lectures	Transport Policy in Montenegro
XV week exercises	Transport Policy in Montenegro

Student workload	Per week 2 ECTS x 40/30 = 2.66 hours Structure: 2 hours of lectures 0.66 hours of independent work Per semester Total workload for the course 2 ECTS x 30 = 60 hours Structure: Teaching and the final exam: 2.66 hours x 16 weeks = 42.66 hours Necessary preparation before the start of the semester (paperwork): 2.66 hours X 2 weeks = 5.32 hours Additional work for the preparation and taking the make-up exam: 12 hours
Per week	Per semester
2 credits x 40/30=2 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 0 excercises 0 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 2 hour(s) i 40 minuts x 16 =42 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 2 hour(s) i 40 minuts x 2 =5 hour(s) i 20 minuts Total workload for the subject: 2 x 30=60 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 12 hour(s) i 0 minuts Workload structure: 42 hour(s) i 40 minuts (cources), 5 hour(s) i 20 minuts (preparation), 12 hour(s) i 0 minuts (additional work)
Student obligations	Given that this is a course study involving active participation of students in class, it is necessary to regularly attend classes.
Consultations	After lessons
Literature	Dr Vladan Božić, Ekonomija saobraćaja, Ekonomski fakultet, Beograd, 2011. (Economics of Transport, Faculty of Economics, Belgrade 2011)
Examination methods	Assessment methods: Activity of students in class, their participation in discussions on specific topics, as well as the success in the midterm exams and the final exam are assessed separately. The final grade is the result of the student overall enga
Special remarks	Midterm test (written) and the final exam is oral. Based on all the tests the final score is obtained.
Comment	Additional information on the course: provided by the professor, prof. dr Ljubinko Dedović

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / INTERNATIONAL MARKETING

Course:

INTERNATIONAL MARKETING/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
68	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / INTERNATIONAL MARKETING

Course:

INTERNATIONAL MARKETING/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
68	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / SERVICE MARKETING

Course:

SERVICE MARKETING/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
74	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	For successful studying of Services Marketing a certain level of knowledge is required of basic economic disciplines, management and, in particular, marketing.
Aims	The leitmotif of teaching the subject Services Marketing is to provide students with a deeper and more useful knowledge of marketing management in service companies.
Learning outcomes
Lecturer / Teaching assistant	Prof.dr Ljubinko Dedović
Methodology	Topics important both from the theoretical and practical points of view are to be studied. For their processing some theoretical preparation is necessary.Theoretical preparation will allow class discussions on important and current topics. In addition, students will have the opportunity to present their thoughts on a variety of theoretical and practical problems in the area of marketing services through term papers, essays, case studies, or in some other way.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	The concept of service. Characteristics of services. The classification of services.
I week exercises	The concept of service. Characteristics of services. The classification of services.
II week lectures	Services marketing - some theoretical implications. The economic importance of services. Characteristics of the services market. Overview of the major features of service offerings. Services market demand
II week exercises	Services marketing - some theoretical implications. The economic importance of services. Characteristics of the services market. Overview of the major features of service offerings. Services market demand
III week lectures	Standard demand factors in services market. Contemporary environmental determinants of demand for services.
III week exercises	Standard demand factors in services market. Contemporary environmental determinants of demand for services.
IV week lectures	Directions of adjustment the process of marketing management by environment changes
IV week exercises	Directions of adjustment the process of marketing management by environment changes
V week lectures	Framework for the process of marketing management in service companies. Research and services market segmentation, positioning of a services company and market targeting (market research and marketing information system of a services company).
V week exercises	Framework for the process of marketing management in service companies. Research and services market segmentation, positioning of a services company and market targeting (market research and marketing information system of a services company).
VI week lectures	Research and service market segmentation, positioning of a services company and market targeting (Services market segmentation. Positioning of a service company and market targeting). Marketing planning in a services company (The planning stages. Defining
VI week exercises	Research and service market segmentation, positioning of a services company and market targeting (Services market segmentation. Positioning of a service company and market targeting). Marketing planning in a services company (The planning stages. Defining
VII week lectures	Review Midterm test I (written test)
VII week exercises	Review Midterm test I (written test)
VIII week lectures	Marketing planning in a service company (Quality of service. Service brand).
VIII week exercises	Marketing planning in a service company (Quality of service. Service brand).
IX week lectures	Marketing planning in a service company (Service development. Pricing. Distribution of service).
IX week exercises	Marketing planning in a service company (Service development. Pricing. Distribution of service).
X week lectures	Marketing planning in a service company (Service promotion). Implementation aspects of marketing management in a service company (Framework of marketing implementation in a service company).
X week exercises	Marketing planning in a service company (Service promotion). Implementation aspects of marketing management in a service company (Framework of marketing implementation in a service company).
XI week lectures	Implementation aspects of marketing management in a service company (Service management process. Physical environment as an implementing area).
XI week exercises	Implementation aspects of marketing management in a service company (Service management process. Physical environment as an implementing area).
XII week lectures	Implementation aspects of marketing management in a service company (Human factor management in the servuction system).
XII week exercises	Implementation aspects of marketing management in a service company (Human factor management in the servuction system).
XIII week lectures	Marketing control in a service company (Main framework of marketing control. Service offer control).
XIII week exercises	Marketing control in a service company (Main framework of marketing control. Service offer control).
XIV week lectures	Marketing control in a service company (Analysis of customer perceptions of service quality. Profit efficiency of a service company).
XIV week exercises	Marketing control in a service company (Analysis of customer perceptions of service quality).
XV week lectures	Profit efficiency of a service company.
XV week exercises	Test II (written test)

Student workload	Per week 4 creditsx 40/30 = 5.3 hours Structure: 2 hours of lectures 2 hours of practice 1.3 hours of independent work including consultations Per semester Total workload for the course 4x30 = 120 hours Structure: Teaching and the final exam: 5.3x16weeks= 85.3 hours Necessary preparation before the start of the semester (paperwork): 5.3x2= 10.6 hours. Additional work for the preparation and taking the make-up exam: 24.1 hours.
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Active participation in class (they are required to attend classes and take tests).
Consultations	After lessons
Literature	prof.dr Rade Kancir, Marketing usluga, Beogradska poslovna škola, Univerzitet za poslovne studije, Beograd, 2011. (Marketing services, Belgrade Business School, University of Business Studies, Belgrade, 2011)
Examination methods	All forms of student activities are assesed separately. Therefore, the grade is the result of their overall engagement. For each test 35 points max are awarded.......................................................................70 points An essay,
Special remarks	Midterm test (written) and the final exam is oral. Based on all the tests the final score is obtained.
Comment	Additional information on the course: provided by the professor, prof. dr Ljubinko Dedović.

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ORGANIZATION DEVELOPMENT

Course:

ORGANIZATION DEVELOPMENT/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
1481	Obavezan	8	4	4+1+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 1 excercises 0 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / LABOR MARKET

Course:

LABOR MARKET/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
2102	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	No prerequisites
Aims	Labor Economics is a field of economics that studies the organization, functioning and labor market outcomes, decisions of potential and present participants in the labor market and public measures related to the employment and payment of human resources. In this discipline, students will become familiar with microeconomic and macroeconomic aspects of labor economics and the effects of many economic phenomena in human choice between work and leisure.The aim of course is to help students to understand the basic mechanisms and factors of the labor market, as well as to learn the basic terminology and analytical resources in the field of labor economics.
Learning outcomes	Upon completion of this course, student will be able to give theoretical and practical interpretation of the basic processes and labor market trends, analyze microeconomic and macroeconomic aspects of the organization of work, analyze economic effects of collective bargaining and social dialogue,analyze functions of human resources management in private and public sector and offer effective solutions and to work effectively and efficiently in a team.
Lecturer / Teaching assistant	Professor Milivoje Radovic, PhD; Teaching assistant: Jovan Đurašković, PhD
Methodology	Lectures and seminars; discussions

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction to Labor Economics
I week exercises	Introduction to Labor Economics
II week lectures	Theory of individual labor supply
II week exercises	Theory of individual labor supply
III week lectures	Labor demand
III week exercises	Labor demand
IV week lectures	Determination of salaries and allocation of work
IV week exercises	Determination of salaries and allocation of work
V week lectures	Unemployment identification
V week exercises	Unemployment identification
VI week lectures	Unions and collective bargaining
VI week exercises	Unions and collective bargaining
VII week lectures	First test
VII week exercises	First test
VIII week lectures	State and labor market: employment, spending and taxation
VIII week exercises	State and labor market: employment, spending and taxation
IX week lectures	State and labor market: legal system and regulation
IX week exercises	State and labor market: legal system and regulation
X week lectures	Active and passive labor market policies
X week exercises	Active and passive labor market policies
XI week lectures	Employment and unemployment
XI week exercises	Employment and unemployment
XII week lectures	Labor market in transition economies
XII week exercises	Labor market in transition economies
XIII week lectures	Labor market in European Union
XIII week exercises	Labor market in European Union
XIV week lectures	Second test
XIV week exercises	Second test
XV week lectures	Final test
XV week exercises	Final test

Student workload	Per week: 4 credits x 40/30 = 5.32 hours Structure: Lectures: 2 hours Seminars: 2 hours Individual work:1.32 hours including tutorials Per semester: Subject workload 4 x 30 = 120 hours Structure: Classes and final exam: 5.32 x 16 weeks =85 hours Preparation needed before start of semester (administration, enrolment and verification): 5.32 x 2 =10.64 hours Additional work for preparing and taking exams in re-sit period: 24 hours
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Lessons attendance is mandatory for students as well as participating in classes actively.
Consultations	Consultations take place within established terms which are published on website or by mail: rmico@t-com.me, jocodj@gmail.com.
Literature	Campbell R. McConnell & Stanley L. Brue, “Suvremena ekonomija rada“, Mate d.o.o. Zagreb
Examination methods	1. Two midterms (each of them has 20 points – first test is e-test, second is written) 2. Classroom participation ( 5 points) 3. Research paper (25 points: 10 for written part, 15 for oral presentation) 4. Final exam (30 points) 5. Total points : 100
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / DEMOGRAPHIC ANALYSIS

Course:

DEMOGRAPHIC ANALYSIS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
2104	Izborni	6	2	2++0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
2 credits x 40/30=2 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 0 excercises 0 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 2 hour(s) i 40 minuts x 16 =42 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 2 hour(s) i 40 minuts x 2 =5 hour(s) i 20 minuts Total workload for the subject: 2 x 30=60 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 12 hour(s) i 0 minuts Workload structure: 42 hour(s) i 40 minuts (cources), 5 hour(s) i 20 minuts (preparation), 12 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ENTREPRENEURIAL FINANCES

Course:

ENTREPRENEURIAL FINANCES/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
2107	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	-
Aims	To develop an entrepreneurial approach to students in seeking alternative forms of financing business projects and ideas. To study the methods and techniques for determining the cost of capital, evaluating profitability of investment projects and risk assessment.
Learning outcomes	After the finalization of the course, students will be able to: 1. Recognize the contemporary trends of business 2. Prepare financial statements and explain the solvency analysis of firm 3. Analyze the business indicators 4. Define the financial market and its key segments 5. Analyze the work of institutional investors 6. Define and explain the instruments of money market and capital market 7. Calculate the price of financial instruments and explain the options of its trade 8. Analyze the stock exchange and stock exchange operations
Lecturer / Teaching assistant	Milijana Novovic Buric, assistant professor
Methodology	lectures and exercises

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	The aims of enterprises. Organizational forms and contemporary trends of business
I week exercises	The aims of enterprises. Organizational forms and contemporary trends of business
II week lectures	Financial reporting and evaluation of credit rating (business solvency)
II week exercises	Financial reporting and evaluation of credit rating (business solvency)
III week lectures	Vertical and horizontal analysis of financial statements, ratio analysis and analysis of market indicators
III week exercises	Vertical and horizontal analysis of financial statements, ratio analysis and analysis of market indicators
IV week lectures	Analysis of profitability and risk analysis
IV week exercises	Analysis of profitability and risk analysis
V week lectures	Average cost of capital
V week exercises	Average cost of capital
VI week lectures	Financial market and financial instruments
VI week exercises	Financial market and financial instruments
VII week lectures	Test 1
VII week exercises	Test 1
VIII week lectures	Money market- segments, organization and instruments of money market
VIII week exercises	Money market- segments, organization and instruments of money market
IX week lectures	Make-up Test 1
IX week exercises	Make-up Test 1
X week lectures	Capital market- segments, organization and instruments of capital market
X week exercises	Capital market- segments, organization and instruments of capital market
XI week lectures	Stock exchange
XI week exercises	Stock exchange
XII week lectures	Risk and risk management
XII week exercises	Risk and risk management
XIII week lectures	Institutional investors ( insurance companies, pension funds, investment funds)
XIII week exercises	Institutional investors ( insurance companies, pension funds, investment funds)
XIV week lectures	Methods for evaluating the profitability of investment projects with unequal economic lifetime
XIV week exercises	Methods for evaluating the profitability of investment projects with unequal economic lifetime
XV week lectures	Test II
XV week exercises	Make up Test II

Student workload	per week 4 credits x 40/30 = 5,33 hours Structure: 2 hours of lectures 2 hours of exercises 1,33 hour of independent work including consultation per semester 4x30=120 hours Structure: Lectures and final exams: 5,33x16= 85,28 hours Preparation before the start of semester (administration, enrolment): 5,33x2 = 10,66 hours. Additional work - preparation for the corrective exam period: 24,06 hours
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes
Consultations	available at web site of the Faculty
Literature	Strateški finansijski menadžment”, dr Dragan Mikerević, Finrar, Banja Luka, 2009. god. “Korporacijsko upravljanje”, dr Anđelko Lojpur, dr Milan Lakićević, Ekonomski fakultet podgorica, 2009. god. Materijali sa predavanja i vježbi Additional: Philip Ad
Examination methods	Test I - 25 points, Test II- 25 points, class activities -10 points, final exam -40 points
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / MICROECONOMICS

Course:

MICROECONOMICS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
2110	Obavezan	3	7	4+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	None
Aims	The main objective of this course is to help students to understand standard topics of traditional microeconomics theory such as basic of supply and demand, consumers behavior, production, cost of productions, market structure, game theory, etc. The intention is to enable students to learn basic terminology and analytic tools from the microeconomics and acquire the knowledge and intuition to discus about basic economics problems.
Learning outcomes
Lecturer / Teaching assistant	Professor Zdenka Dragašević, lecturer Dženana Đurković, teaching assistant
Methodology	Lectures and exercises with a lot of fresh, realistic and truly useful examples that could vividly demonstrate modern microeconomic theory at work. It is preferred that students are engaged in discussion, work they assignments on the board and ask a questions. It is provided a test and a final exam.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction: markets and prices.
I week exercises	Introduction: markets and prices.
II week lectures	The basic of supplay and demand
II week exercises	The basic of supplay and demand
III week lectures	Consumer behavior
III week exercises	Consumer behavior
IV week lectures	Example: Consumer’s optimal point Individual and market demand - income effect and substitution effect
IV week exercises	Example: Consumer’s optimal point Individual and market demand - income effect and substitution effect
V week lectures	Individual and market demand - Market demand, network externalities Example: Income and substitution effects
V week exercises	Individual and market demand - Market demand, network externalities Example: Income and substitution effects
VI week lectures	Example: Income and substitution effects Production - Production with one variable input
VI week exercises	Example: Income and substitution effects Production - Production with one variable input
VII week lectures	Production - Production with two variable inputs Example: One-factor production function
VII week exercises	Production - Production with two variable inputs Example: One-factor production function
VIII week lectures	Example: Two-factor production function
VIII week exercises	Example: Two-factor production function
IX week lectures	The cost of production - Cost in short run The cost of production - Cost in long run Colloquium (material ending with 8th week of teaching), 25th November 2023
IX week exercises	The cost of production - Cost in short run The cost of production - Cost in long run Colloquium (material ending with 8th week of teaching), 25th November 2023
X week lectures	Profit maximization and competitive supplay - Short run choice of production Profit maximization and competitive supplay - Long run choice of production
X week exercises	Profit maximization and competitive supplay - Short run choice of production Profit maximization and competitive supplay - Long run choice of production
XI week lectures	Example: The analysis of competitive markets The remedial colloquium, 9th December 2023
XI week exercises	Example: The analysis of competitive markets The remedial colloquium, 9th December 2023
XII week lectures	Market power: Monopoly Pricing with market power Game theory and competitive strategy - Elements of games,dominant strategy Game theory and competitive strategy - Sequential games,entry deterrence
XII week exercises	Market power: Monopoly Pricing with market power
XIII week lectures	Monopolistic competition and oligopoly - Part I Monopolistic competition and oligopoly - Part II
XIII week exercises	Monopolistic competition and oligopoly - Part I Monopolistic competition and oligopoly - Part II
XIV week lectures	Markets for factor inputs - Equilibrium in a competitive factor market Factor markets with monopsony and monopoly power Asimetric information and moral hazard
XIV week exercises	Markets for factor inputs - Equilibrium in a competitive factor market Factor markets with monopsony and monopoly power
XV week lectures	The final exam
XV week exercises	The final exam

Student workload
Per week	Per semester
7 credits x 40/30=9 hours and 20 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 3 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 9 hour(s) i 20 minuts x 16 =149 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 9 hour(s) i 20 minuts x 2 =18 hour(s) i 40 minuts Total workload for the subject: 7 x 30=210 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 42 hour(s) i 0 minuts Workload structure: 149 hour(s) i 20 minuts (cources), 18 hour(s) i 40 minuts (preparation), 42 hour(s) i 0 minuts (additional work)
Student obligations	Students are recommend to attend classes and do assignments and tests.
Consultations	After lectures and exercises.
Literature	Textbook: Mikroekonomija (peto izdanje), R.Pindyck, D.Rubinfeld, MATE, Zagreb Recommended References books: Mikroekonomija-moderan pristup, H.Varijan, Ekonomski fakultet, Beograd
Examination methods	The exam consists of a colloquium and a final exam. Colloquium (3 graphics with explanation, assignment) - 40 points Homework, quiz tests - 10 points Final exam (4 graphics with explanations, 10 short questions) - 50 points The student has the right to a remedial colloquium as well as a remedial final exam.
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / BUSINESS ANALYSIS OF STOCK EXCHANGE

Course:

BUSINESS ANALYSIS OF STOCK EXCHANGE/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
2114	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	None
Aims	Students are introduced with fundamental and actual problems related to Stock Exchange dealings. After completing this course students will be able to understand how to read Stocks Exchange reports; will be able to apply different tools for Stock Exchange analysis.
Learning outcomes	After passing this exam, the student will be able to: 1. Recognize different financial statements for various financial instruments. 2. Explain and classify the different types of stock market indicators. 3. Illustrate and explain main tools of securities technical analysis. 4. Analyze and calculate main ratios of securities fundamental analysis. 5. Compose Value Line Report for domestic and foreign companies.
Lecturer / Teaching assistant	Saša Popović, Ph.D., Jelena Jovović
Methodology	Lectures and Exercises, Group research, Case studies, Individual research

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction
I week exercises	Qualitative and Quantitative analysis of Stock Exchange basic terms: money and capital markets, stock exchange types and financial instruments
II week lectures	The history of Stock Exchange and trade of Securities
II week exercises	Analysis and practical check of knowledge related to process of Stock Exchange operations
III week lectures	How to read Stock Exchange reports
III week exercises	Qualitative and Quantitative analysis of ratios related to shares Stock Exchange reports
IV week lectures	The analysis of Stock Exchange Indicators
IV week exercises	Qualitative and Quantitative analysis of ratios related to bonds Stock Exchange reports
V week lectures	Weighting scheme in Stock Exchange Indicators
V week exercises	Derivation and calculation of Stock Exchange Indices in Excel
VI week lectures	Bond valuation
VI week exercises	Quantitative analysis of bonds valuation
VII week lectures	Bond valuation - II
VII week exercises	Valuation of bonds in Excel
VIII week lectures	Share valuation
VIII week exercises	Quantitative analysis of stock valuation
IX week lectures	Share price – Fundamental analysis (I part)
IX week exercises	Practical examination and analysis of stock price fundamental ratios
X week lectures	Share price – Fundamental analysis (II part)
X week exercises	Practical examination and analysis of stock price fundamental ratios
XI week lectures	Share price – Technical analysis (I part)
XI week exercises	Qualitative and Quantitative analysis of stock price technical indicators
XII week lectures	Share price – Technical analysis (II part)
XII week exercises	Midterm exam preparation
XIII week lectures	Midterm exam
XIII week exercises	Practical examination and preparation of Value Line report
XIV week lectures	Analysis of Stock Exchange reports
XIV week exercises	Software simulation of Value Line report
XV week lectures	Final Exam preparation
XV week exercises	Final exam

Student workload	per week 4 ECTS x 40/30=5.20 hours Structure: 1.3 hours of lectures 1.3 hours of exercises 2.2 hours of individual work and consultations per semester Total course workload: 4ECTS x 30 =120 hours Structure: Lectures and Final exam: 5.2 x 16 weeks= 85.20 hours Necessary preparations before beginning of semester: (administration, enrollment and verification): 5.2 x 2 weeks=10.40 hours Additional hours for preparation and examination in second exam term 85.20 hours + 10.40 hours + 24 hours
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Compulsory attendance to lectures and exercises, group research work and individual research.
Consultations	in scheduled terms
Literature	John M. Dalton, How the Stock Market Works, 2 nd edition, New York Institute of Finance
Examination methods	Written exam I part 60 points Written exam II part 40 points
Special remarks
Comment	• For the purpose of this course computer rook necessary. • Lectures and exercises can be held in English. • For the purpose of this course we launched website www.finansije.net

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / DATA BASES

Course:

DATA BASES/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
2116	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	No
Aims	Introduction to logic design, implementation and query of relational databases.
Learning outcomes	After passing this exam student will be able to: 1. Appoint, define and explain the concepts of the E-R and relational data model 2. Analyze and design E-R diagrams and relational data models in business 3. Explain and create queries through relational algebra on data models in business 4. Explain and create SQL queries on the data models in business 5. Define and explain the normal forms 6. Apply normalization process to the relational data model in business 7. Apply MS Access and use it to generate business data models, queries, forms and reports
Lecturer / Teaching assistant	Prof. dr Ljiljana Kašćelan, mr Tamara Đuričković
Methodology	Lectures and practical exercises in the computer room and consultation.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	The concept of the database. ER model - basic concepts.
I week exercises	Software package MS Access.
II week lectures	ER model - information structure and examples
II week exercises	Software package MS Access
III week lectures	Relational model
III week exercises	Creating a database in MS Access.
IV week lectures	Relational algebra
IV week exercises	Creating tables. Linking tables. Working with tables.
V week lectures	SQL -relational query language
V week exercises	Generating queries
VI week lectures	Examples
VI week exercises	Generation of screen forms
VII week lectures	Colloquium 1
VII week exercises	Generating reports
VIII week lectures	Functional dependencies
VIII week exercises	Example
IX week lectures	Decomposition of relational schema - the normal forms
IX week exercises	Example
X week lectures	Make-up Colloquium 1
X week exercises	Term project.
XI week lectures	Current trends of data modeling. Database Management Systems.
XI week exercises	Term project
XII week lectures	Examples
XII week exercises	Term project
XIII week lectures	Colloquium 2
XIII week exercises	Term project
XIV week lectures	Examples
XIV week exercises	Term project
XV week lectures	Make-up Colloquium 2
XV week exercises	Term project

Student workload	per week 4 credits x 40/30 = 5.33 hours Structure: Lectures: 2 hours Exercise: 2 hours Individual student work 1.33 hours. per semester Total hours for the course: 4 credits x30 = 120 hours Structure: Lessons and the final exam: 16 weeks x 5:33 hours = 85.28 hours Necessary preparations before the start of the semester (before semester): 2 weeks x 5.33 hours = 10.66 hours Additional work for the preparation and make-up examination: 24.06 hours
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes, participate in discussion on the topic in order to get points for activities and work tests.
Consultations	The terms are highlighted on the website of the Faculty.
Literature	1. Lj. Kašćelan, Information Technology for Business Decisions Support, University of Montenegro, 2012 - e-format 2. Silberschatz, A., Korth, H., Sudarshan, P. Databas e Systems Concepts, 6 th Edition, McGraw-Hill, 2010
Examination methods	Colloquium 1 ........25 points • Colloquium 2.........25 points • Term project .........20 points • Final exam ............25 points • The presence and activity in class ...... 5 points The exam is passed if the total score is at leas
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / INFORMATION SYSTEMS

Course:

INFORMATION SYSTEMS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
2121	Obavezan	4	5	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	No
Aims	The main objective of this course is to help students to understand standard topics of Information Systems
Learning outcomes	Understands the role and importance of business information systems; Recognizes stages in the development of information systems; Uses methodology of structured systems analysis for the user requirements specifications in the initial stages of development of information systems; Recognizes the basics of UML Recognizes the theoretical foundations of the various categories of information systems; Resolves numerous tasks by applying advanced Excel that follows the company's operations
Lecturer / Teaching assistant	Associate professor Biljana Rondović , PhD Dijana Kovačević, MsC Zorana Popović, MsC Tamara Đuričković
Methodology	lectures, exercises, seminars, tests, consultations, debate on exercises and during presentations on selected seminars in certain scientific areas

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Information Systems – definitions and Concepts
I week exercises	Excel
II week lectures	Information Systems – classification
II week exercises	Excel
III week lectures	Management Information Systems
III week exercises	Excel
IV week lectures	Decision Support System
IV week exercises	Excel
V week lectures	Artificial intelligence System
V week exercises	Excel
VI week lectures	preparing for the test
VI week exercises	preparing for the test
VII week lectures	Test 1 (L)
VII week exercises	Test 1 (E)
VIII week lectures	Information System-development options
VIII week exercises	Power Point
IX week lectures	Structured Analysis and System Specification
IX week exercises	Power Point
X week lectures	SSA methodology
X week exercises	Power Point
XI week lectures	SSA methodology
XI week exercises	Power Point
XII week lectures	Object Oriented Mathodology and System Specification
XII week exercises	Case Stady
XIII week lectures	Object Oriented Mathodology -UML
XIII week exercises	Case Stady
XIV week lectures	Object Oriented Mathodology -UML
XIV week exercises	Case Stady
XV week lectures	Test2(L)
XV week exercises	Taest 2 (E)

Student workload	5 credits x 40/30 = 6.67 hours Structure: 2 hours for lectures 2 hours for exercises 2.67 hours individual work with consultations
Per week	Per semester
5 credits x 40/30=6 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 2 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 6 hour(s) i 40 minuts x 16 =106 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 6 hour(s) i 40 minuts x 2 =13 hour(s) i 20 minuts Total workload for the subject: 5 x 30=150 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 30 hour(s) i 0 minuts Workload structure: 106 hour(s) i 40 minuts (cources), 13 hour(s) i 20 minuts (preparation), 30 hour(s) i 0 minuts (additional work)
Student obligations	Students are recommend to attend classes and do assignments and tests.
Consultations
Literature	Informacini sistemi u menadžmentu, N Balaban,Ž. Ristić, J. Djurković, J. Trninić 2.Uputstvo za napredno korištenje – Excel, Power Point 3. Skripte za SSA i UML 4. J..A. O’Brien: Introduction to Information Systems, E
Examination methods	Ocjena na ispitu se formira na osnovu rezultata teorijskog kolokvijuma (30%), praktičnog dela ispita (35%), prisustva i aktivnosti na času (5%) i završnog ispita (30%).
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ECONOMICS OF FIRM

Course:

ECONOMICS OF FIRM/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
2136	Obavezan	2	9	4+4+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
9 credits x 40/30=12 hours and 0 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 4 excercises 4 hour(s) i 0 minuts of independent work, including consultations	Classes and final exam: 12 hour(s) i 0 minuts x 16 =192 hour(s) i 0 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 12 hour(s) i 0 minuts x 2 =24 hour(s) i 0 minuts Total workload for the subject: 9 x 30=270 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 54 hour(s) i 0 minuts Workload structure: 192 hour(s) i 0 minuts (cources), 24 hour(s) i 0 minuts (preparation), 54 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / CONSUMER BEHAVIOR

Course:

CONSUMER BEHAVIOR/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
2845	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims	The main objective of the course is to educate students how research consumer behavior ,their goals and strategies in conditions of modern the market economy. Hence, in addition to theoretical explanations of the concept of understanding consumer behavior , discipline deals with the issue of analysing the business market strategy, and create optimal strategic response to the sustainable development of enterprises, i.e. providing a competitive advantage in the eyes of consumers. Keywords:, consumers, strategy, competition, Influneces, , critical success factors...
Learning outcomes
Lecturer / Teaching assistant	Božo Mihailović, Ph. D., Full professor Vladimir Đurišić, MSc
Methodology	Lectures and Exercises, Analysis of Case studies, seminars, discussions

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction to Consumer behavior- recapitulation of basic knowledge Introduction to Consumer behavior- recapitulation of basic knowledge
I week exercises	Introduction to Consumer behavior- recapitulation of basic knowledge
II week lectures	Basic goals ana reasons for resarch consumer behavior
II week exercises	Basic goals ana reasons for resarch consumer behavior
III week lectures	Understanding consumer« as bigger stage of consumer behavior.CRM
III week exercises	Understanding consumer« as bigger stage of consumer behavior.CRM
IV week lectures	Interdisciplinary of consumer behavior. Applications of Consumer behavior
IV week exercises	Interdisciplinary of consumer behavior. Applications of Consumer behavior
V week lectures	Motivation process and consumer behavior. Different phases
V week exercises	Motivation process and consumer behavior. Different phases
VI week lectures	Needs, motives ana behaviors ( actions)
VI week exercises	Needs, motives ana behaviors ( actions)
VII week lectures	Consumer behavior and marketing strategies Consumer behavior and marketing strategies
VII week exercises	Consumer behavior and marketing strategies
VIII week lectures	Midterm exam
VIII week exercises	Midterm exam
IX week lectures	Infleuneces of consumer behavior.Identifications and classifications.Basic analysis
IX week exercises	Infleuneces of consumer behavior.Identifications and classifications.Basic analysis
X week lectures	External influences: Demographic. Cross-cultural. Subcultural.
X week exercises	External influences: Demographic. Cross-cultural. Subcultural.
XI week lectures	External influneces: Economic. Social stratification..
XI week exercises	External influneces: Economic. Social stratification..
XII week lectures	Group influneces and values. Families and housholds
XII week exercises	Group influneces and values. Families and housholds
XIII week lectures	Internal influences. Perception. Learning, memory andpProduct positioning . Motivation, personality and emotion. Self-concept and lifestyle.
XIII week exercises	Internal influences. Perception. Learning, memory andpProduct positioning . Motivation, personality and emotion. Self-concept and lifestyle.
XIV week lectures	Consumer decision proccess Consumer protection in the world and in Montenegro. Basic analysis
XIV week exercises	Consumer decision proccess Consumer protection in the world and in Montenegro. Basic analysis
XV week lectures	Midterm exam
XV week exercises	Midterm exam

Student workload	per week 4 credits x 40/30 = 5,3o hours Structure: 2 hours of lectures 2 horus of exercise 1,30 of independent work including consultation per semester Total hours for the course: 4 x 30 = 120 hours Structure: Classes and the final exam: 5,30 x 16 weeks = 85,3 hours Necessary preparations before the start of the semester (administration, admission, verification): 5.3 x 2 = 10.6 hours Additional work for the preparation and examination re-sit period : 24.1, hours
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	To atend classes regulatorly and work planned everthing in this program
Consultations	after class
Literature	Maričić B.: Ponašanje potrošačaEkonomski fakultet, Beograd, 2011 ;Hawukins and oth. Consumer Bihavior – Building Marketing strategy, McGraw Hill Irwin 2010; Maricic B.: Ponšsanje potrošača , G. Zaltman- How Customer Think Material from lectures and exe
Examination methods	1. Assessment methods: Two tests - 20 points each (2 X 20 = 40 to points maximum) 2. Seminar with presentation (to 15 points) 3. Attendance and activity (translation) during classes (10 points) 4. Final (oral) or written exam (35 points)
Special remarks
Comment	Further information can be obtained from the subject teacher or via email bozom@ac.me

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / CONSUMER BEHAVIOR

Course:

CONSUMER BEHAVIOR/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
2845	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims	The main objective of the course is to educate students how research consumer behavior ,their goals and strategies in conditions of modern the market economy. Hence, in addition to theoretical explanations of the concept of understanding consumer behavior , discipline deals with the issue of analysing the business market strategy, and create optimal strategic response to the sustainable development of enterprises, i.e. providing a competitive advantage in the eyes of consumers. Keywords:, consumers, strategy, competition, Influneces, , critical success factors...
Learning outcomes
Lecturer / Teaching assistant	Božo Mihailović, Ph. D., Full professor Vladimir Đurišić, MSc
Methodology	Lectures and Exercises, Analysis of Case studies, seminars, discussions

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction to Consumer behavior- recapitulation of basic knowledge Introduction to Consumer behavior- recapitulation of basic knowledge
I week exercises	Introduction to Consumer behavior- recapitulation of basic knowledge
II week lectures	Basic goals ana reasons for resarch consumer behavior
II week exercises	Basic goals ana reasons for resarch consumer behavior
III week lectures	Understanding consumer« as bigger stage of consumer behavior.CRM
III week exercises	Understanding consumer« as bigger stage of consumer behavior.CRM
IV week lectures	Interdisciplinary of consumer behavior. Applications of Consumer behavior
IV week exercises	Interdisciplinary of consumer behavior. Applications of Consumer behavior
V week lectures	Motivation process and consumer behavior. Different phases
V week exercises	Motivation process and consumer behavior. Different phases
VI week lectures	Needs, motives ana behaviors ( actions)
VI week exercises	Needs, motives ana behaviors ( actions)
VII week lectures	Consumer behavior and marketing strategies Consumer behavior and marketing strategies
VII week exercises	Consumer behavior and marketing strategies
VIII week lectures	Midterm exam
VIII week exercises	Midterm exam
IX week lectures	Infleuneces of consumer behavior.Identifications and classifications.Basic analysis
IX week exercises	Infleuneces of consumer behavior.Identifications and classifications.Basic analysis
X week lectures	External influences: Demographic. Cross-cultural. Subcultural.
X week exercises	External influences: Demographic. Cross-cultural. Subcultural.
XI week lectures	External influneces: Economic. Social stratification..
XI week exercises	External influneces: Economic. Social stratification..
XII week lectures	Group influneces and values. Families and housholds
XII week exercises	Group influneces and values. Families and housholds
XIII week lectures	Internal influences. Perception. Learning, memory andpProduct positioning . Motivation, personality and emotion. Self-concept and lifestyle.
XIII week exercises	Internal influences. Perception. Learning, memory andpProduct positioning . Motivation, personality and emotion. Self-concept and lifestyle.
XIV week lectures	Consumer decision proccess Consumer protection in the world and in Montenegro. Basic analysis
XIV week exercises	Consumer decision proccess Consumer protection in the world and in Montenegro. Basic analysis
XV week lectures	Midterm exam
XV week exercises	Midterm exam

Student workload	per week 4 credits x 40/30 = 5,3o hours Structure: 2 hours of lectures 2 horus of exercise 1,30 of independent work including consultation per semester Total hours for the course: 4 x 30 = 120 hours Structure: Classes and the final exam: 5,30 x 16 weeks = 85,3 hours Necessary preparations before the start of the semester (administration, admission, verification): 5.3 x 2 = 10.6 hours Additional work for the preparation and examination re-sit period : 24.1, hours
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	To atend classes regulatorly and work planned everthing in this program
Consultations	after class
Literature	Maričić B.: Ponašanje potrošačaEkonomski fakultet, Beograd, 2011 ;Hawukins and oth. Consumer Bihavior – Building Marketing strategy, McGraw Hill Irwin 2010; Maricic B.: Ponšsanje potrošača , G. Zaltman- How Customer Think Material from lectures and exe
Examination methods	1. Assessment methods: Two tests - 20 points each (2 X 20 = 40 to points maximum) 2. Seminar with presentation (to 15 points) 3. Attendance and activity (translation) during classes (10 points) 4. Final (oral) or written exam (35 points)
Special remarks
Comment	Further information can be obtained from the subject teacher or via email bozom@ac.me

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / STRATEGIC MARKETING

Course:

STRATEGIC MARKETING/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
2846	Obavezan	8	6	4+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	There are no prerequisites. It is desirable that the student has passed the subject Marketing
Aims	The main objective of the course is to educate students how to effectively, efficiently and fairly achieve the mission, goals and strategies of the company in conditions of modern the market economy. Hence, in addition to theoretical explanations of the concept of strategic marketing management, discipline deals with the issue of analysing the business market strategy, and create optimal strategic response to the sustainable development of enterprises, ie providing a competitive advantage in the eyes of consumers. The ultimate goal is to help students master the principles, logic and strategic marketing skills, or to train students that, based on acquired knowledge and skills, apply long-term sustainable consumer-oriented strategy in organizations.
Learning outcomes	After passing this exam, students will be able to: Describe key categories and processes that are related to the implementation of marketing strategies and concepts in business; Explain the marketing strategy and discuss on strategic planning of marketing activities; Point out possible ways of identifying market opportunities; Discuss about the strategy of creating products, pricie, distribution and promotion (communication), in the case of a specific company; Explain the strategy of market segmentation, offer differentiation and the positioning of the product (in the case of a company); Analyze independently or in groups the role of the brand in the creation of marketing strategy company; Analyze the role of the marketing strategy in globalization of the world economy; Explain and classify basic types of control and audit of marketing activities.
Lecturer / Teaching assistant	Boban Melović, Associate Professor; Vladimir Đurišić, MSc
Methodology	Lectures, exercises, case studies, seminars, essays, practical work, consultations

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	The market orientation of the company; Value orientation of strategic marketing;
I week exercises	The market orientation of the company; Value orientation of strategic marketing;
II week lectures	Strategic planning of marketing activities; Marketing Strategy;
II week exercises	Strategic planning of marketing activities; Marketing Strategy;
III week lectures	Marketing strategy and competitive advantage; Identifying market opportunities;
III week exercises	Marketing strategy and competitive advantage; Identifying market opportunities;
IV week lectures	Strategic approach to new product development; Approaches to the strategy of the market sypply;
IV week exercises	Strategic approach to new product development; Approaches to the strategy of the market sypply;
V week lectures	Brand and marketing strategy;
V week exercises	Brand and marketing strategy;
VI week lectures	Strategic approach to pricing;
VI week exercises	Strategic approach to pricing;
VII week lectures	Strategies of marketing communications - introduction;
VII week exercises	First (midterm) test
VIII week lectures	Strategies of marketing communications;
VIII week exercises	Strategies of marketing communications;
IX week lectures	Strategies of maintaining and increasing market share;
IX week exercises	Strategies of maintaining and increasing market share;
X week lectures	The strategy of market segmentation;
X week exercises	The strategy of market segmentation;
XI week lectures	The strategy of supply differentiation;
XI week exercises	The strategy of supply differentiation;
XII week lectures	The strategy of positioning products;
XII week exercises	The strategy of positioning products;
XIII week lectures	Marketing and globalization of the world economy; Marketing strategies in the global economy
XIII week exercises	Marketing and globalization of the world economy; Marketing strategies in the global economy
XIV week lectures	Marketing strategies and structures;
XIV week exercises	Marketing strategies and structures;
XV week lectures	Control and Audit of Marketing Activities;
XV week exercises	Second (written) exam

Student workload	Total hours for the course: 6 x 30 = 60 hours; Structure: Classes and the final exam: 8 x 16 weeks = 128 hours; Necessary preparations before the start of the semester (administration, admission, verification): 8 x 2 = 16 hours; Additional work for the preparation and examination of make-up exam: 36 hours.
Per week	Per semester
6 credits x 40/30=8 hours and 0 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 2 hour(s) i 0 minuts of independent work, including consultations	Classes and final exam: 8 hour(s) i 0 minuts x 16 =128 hour(s) i 0 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 8 hour(s) i 0 minuts x 2 =16 hour(s) i 0 minuts Total workload for the subject: 6 x 30=180 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 36 hour(s) i 0 minuts Workload structure: 128 hour(s) i 0 minuts (cources), 16 hour(s) i 0 minuts (preparation), 36 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes regularly and work planned tests, essays, seminars and practical works.
Consultations	After hours of lectures and during official terms for consultations published on the website of the Faculty.
Literature	Basic: Milisavljević Momčilo, Strategijski marketing, Ekonomski fakultet, Beograd, 2010; Additional: Renko Nataša, Strategije marketinga, Sveučilište u Zagrebu, Zagreb, 2005; Aaker A. David, Strategic marketing management, John Wiley & Sons, Inc.,
Examination methods	The structure of marks formed on the basis of the following elements: Two tests - 20 points each (2 X 20 = 40 points); Seminar with presentation (10 points); Attendance and activity during classes (5 points); Essays that are written during classes -
Special remarks
Comment	Further information can be obtained from the subject teacher or via email bobanm@ac.me

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / MANAGERIAL INFORMATION SYSTEMS

Course:

MANAGERIAL INFORMATION SYSTEMS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
2872	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	No
Aims	The main objective of this course is to help students to understand standard topics of Management Information Systems and Electronic business
Learning outcomes	Understands the way how companies use technology and information systems to increase profitability Recognizes the importance of certain categories of information systems for planning, organization and control needs Understands the need for integration of information systems and platforms for e-commerce Solves dilemma which companies confront during Web performance Uses methodologies to estimate the quality of Management Information Systems Uses advanced tools for management purposes
Lecturer / Teaching assistant	Prof. dr Biljana Rondović, Dr Dijana Kovačević
Methodology	lectures, exercises, seminars, tests, consultations, debate on exercises and during presentations on selected seminars in certain scientific areas

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Information Systems , Management Information Systems
I week exercises	Information Systems , Management Information Systems
II week lectures	Information Technology and business processies/ Information Technology and business processies
II week exercises	Information Technology and business processies/ Information Technology and business processies
III week lectures	Digital Society and Management Information Systems/ Digital Society and Management Information Systems
III week exercises	Digital Society and Management Information Systems/ Digital Society and Management Information Systems
IV week lectures	Digital economy and its impact on industries/ Digital economy and its impact on industries
IV week exercises	Digital economy and its impact on industries/ Digital economy and its impact on industries
V week lectures	Impacts of e-business on business processes/ Impacts of e-business on business processes
V week exercises	Impacts of e-business on business processes/ Impacts of e-business on business processes
VI week lectures	Preparation for the test
VI week exercises	Preparation for the test
VII week lectures	Test
VII week exercises	Development Internet presentation
VIII week lectures	Electronic Business-definitions/Development Internet presentation
VIII week exercises	Development Internet presentation
IX week lectures	Electronic Business Models
IX week exercises	Development Internet presentation
X week lectures	Electronic marketplaces, Structures, mechanisms, impacts
X week exercises	Development Internet presentation
XI week lectures	E-business infrastructures
XI week exercises	Development Internet presentation
XII week lectures	E-business Security/ Development Internet presentation
XII week exercises	Development Internet presentation
XIII week lectures	E-business Security
XIII week exercises	Case Stady
XIV week lectures	E-business and regulatory issues
XIV week exercises	Case Stady
XV week lectures	Test 2
XV week exercises	Case Stady

Student workload	per week 4 credits x 40/30 = 5.33 hours Structure: 2 hours for lectures 2 hours for exercises 1.33 hours individual work with consultations
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Students are recommend to attend classes and do assignments and tests.
Consultations
Literature	N.Balaban, Ž.Ristić, J.Đurković, J. Trninić: Informacioni sistemi u Menadžmentu, Beograd 2002 Biljana Rondović, Saša Vujošević, Elektronsko Poslovanje , Podgorica, 2014. S.Huff, M.Wade, S.Schneberger "Cases in electronic commerce", Mc Graw-Hill Irwin,
Examination methods	I test ..................................................30% of the grade II test..................................................30 % of the grade Final exam.........................................30% of the grade Case Stady.........................
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ORGANIZATIONAL BEHAVIOUR

Course:

ORGANIZATIONAL BEHAVIOUR/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
2873	Obavezan	6	7	4+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
7 credits x 40/30=9 hours and 20 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 3 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 9 hour(s) i 20 minuts x 16 =149 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 9 hour(s) i 20 minuts x 2 =18 hour(s) i 40 minuts Total workload for the subject: 7 x 30=210 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 42 hour(s) i 0 minuts Workload structure: 149 hour(s) i 20 minuts (cources), 18 hour(s) i 40 minuts (preparation), 42 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / APPLIED DEMAND ANALYSIS

Course:

APPLIED DEMAND ANALYSIS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
3459	Izborni	6	2	2++0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
2 credits x 40/30=2 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 0 excercises 0 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 2 hour(s) i 40 minuts x 16 =42 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 2 hour(s) i 40 minuts x 2 =5 hour(s) i 20 minuts Total workload for the subject: 2 x 30=60 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 12 hour(s) i 0 minuts Workload structure: 42 hour(s) i 40 minuts (cources), 5 hour(s) i 20 minuts (preparation), 12 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / CAPITAL BUDGETING

Course:

CAPITAL BUDGETING/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
3460	Izborni	6	2	2++0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	None
Aims	The main objective of this course is to help students to understand basic concept and terminology of capital budgeting and techniques for making optimal decisions in the long run.
Learning outcomes
Lecturer / Teaching assistant	Assistant professor Zdenka Dragasevic, lecturer
Methodology	Lectures, consultations

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Defining the concept of capital budgeting. Characteristic of projects
I week exercises	Defining the concept of capital budgeting. Characteristic of projects
II week lectures	Financial efficiency. Types of investment projects.
II week exercises	Financial efficiency. Types of investment projects.
III week lectures	Importance and method of capital budgeting.
III week exercises	Importance and method of capital budgeting. Homework
IV week lectures	Capital budgeting rules
IV week exercises	Capital budgeting rules
V week lectures	The types of investment decisions
V week exercises	The types of investment decisions
VI week lectures	Project ranking
VI week exercises	Project ranking
VII week lectures	I test
VII week exercises	I test
VIII week lectures	Net present value
VIII week exercises	Net present value
IX week lectures	Assessment of project cash flows
IX week exercises	Assessment of project cash flows
X week lectures	Assessment of investment costs
X week exercises	Assessment of investment costs
XI week lectures	Capital budgeting under uncertainty and risk. Individual risk
XI week exercises	Homework. Capital budgeting under uncertainty and risk. Individual risk
XII week lectures	Market risk.
XII week exercises	Market risk.
XIII week lectures	Globalization of financial markets.
XIII week exercises	Globalization of financial markets.
XIV week lectures	International capital budgeting
XIV week exercises	II test
XV week lectures	Unconventional capital budgeting
XV week exercises	Final exam

Student workload	Per week: 2 credits x 40/30 = 3 hours Structure: 2 hours for lecture 1 hour of individual work, including consultations Per semester: Total hours per course: 2 x 30 = 60 hours Structure: Classes and final exam: 3 x 16 weeks= 48 hours Preparation before the semestar starts :2 x 2= 4 hours Additional work for the preparation and examination in correction term: 8 hours
Per week	Per semester
2 credits x 40/30=2 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 0 excercises 0 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 2 hour(s) i 40 minuts x 16 =42 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 2 hour(s) i 40 minuts x 2 =5 hour(s) i 20 minuts Total workload for the subject: 2 x 30=60 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 12 hour(s) i 0 minuts Workload structure: 42 hour(s) i 40 minuts (cources), 5 hour(s) i 20 minuts (preparation), 12 hour(s) i 0 minuts (additional work)
Student obligations	Attendance, active participation of students in the course of performing the lectures, making seminars with presentations.
Consultations	Available information at website and notice board
Literature	1. Orsag, S: Budzetiranje kapitala-procjena investicionoh projekata, 2002.
Examination methods	Assessment methods: Two tests with 20 points Two homeworks with 5 points Seminar paper 10 points Final exam 40 points Passing grade is obtained if a student cumulatively collects at least 51 points.
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ENGLISH LANGAUAGE UPPER-INTERMEDIATE-BUSINESS

Course:

ENGLISH LANGAUAGE UPPER-INTERMEDIATE-BUSINESS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
3934	Izborni	5	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / SMALL BUSINESS MARKETING MANAGEMENT

Course:

SMALL BUSINESS MARKETING MANAGEMENT/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
3989	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	There are no prerequisites. It is desirable that the student has passed the courses Marketing, Management and Business
Aims	The course aims to teach students principles and basic skills of marketing management in small and medium-sized enterprises (SME), or to train themto recognize the problem, analyze it, and propose a way to solve it, based on acquired knowledge and skills, and bring optimal business solutions (decision). Hence, in addition to theoretical explanations of marketing management in the SME sector, this disciplines deals with possibilities of applying benchmarking in the SME sector, and the analysis of the basic mistakes that must be avoided in marketing. The ultimate goal is to help students master the skill of making a quality marketing plan with all the necessary elements.
Learning outcomes	After passing this exam, student will be able to: - describe basic categories and specifics of marketing in the sector of small and medium-sized enterprises - differentiate between marketing in large and small enterprises and identify key determinants of "guerrilla marketing" (in the case of a specific company) - explain the development plan of "guerrilla marketing" and point out the process of market research in the SME sector - discuss about benchmarking as a model for improving the competitiveness of small and medium-sized enterprises, its types and process in the cases of a specific companies - explain marketing instruments (product, price, place (distribution) and promotion) in small business (in the case of a specific company) - indicate ways to avoid mistakes in the marketing of SME - describe process of developing a marketing plan and develop a model of a marketing plan in the case of a company
Lecturer / Teaching assistant	Mirjana Kuljak Dragana Ćirović
Methodology	Lectures, exercises, case studies, practical activities, seminars, debates, discussions, consultations

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction to marketing of small businesses Specificities of applying marketing in SME sector
I week exercises	Introduction to marketing of small businesses Specificities of applying marketing in SME sector
II week lectures	Marketing and entrepreneurship
II week exercises	Marketing and entrepreneurship
III week lectures	Benchmarking - concept, types, the implementation process, international and local examples
III week exercises	Benchmarking - concept, types, the implementation process, international and local examples
IV week lectures	Benchmarking – specificities applying benchmarking in SMEs
IV week exercises	Benchmarking – specificities applying benchmarking in SMEs
V week lectures	Marketing instruments in small business
V week exercises	Marketing instruments in small business
VI week lectures	I colloquium
VI week exercises	I colloquium
VII week lectures	Product in SMEs; Price policy in SMEs; Distribution and promotion in SMEs
VII week exercises	Product in SMEs; Price policy in SMEs; Distribution and promotion in SMEs
VIII week lectures	Ten deadly sins in marketing - how to avoid mistakes in the marketing of SMEs?
VIII week exercises	Ten deadly sins in marketing - how to avoid mistakes in the marketing of SMEs?
IX week lectures	Marketing Planning - Marketing Plan in SMEs
IX week exercises	Marketing Planning - Marketing Plan in SMEs
X week lectures	Entrepreneurial Marketing Plan - explanation of key features
X week exercises	Entrepreneurial Marketing Plan - explanation of key features
XI week lectures	Methods of making a marketing plan for SMEs
XI week exercises	Methods of making a marketing plan for SMEs
XII week lectures	Implementation and Control (audit) of the marketing plan in SMEs
XII week exercises	Implementation and Control (audit) of the marketing plan in SMEs
XIII week lectures	Best practice cases of SMEs - a case study analysis Presentation of practical works and seminars
XIII week exercises	Best practice cases of SMEs - a case study analysis Presentation of practical works and seminars
XIV week lectures	II colloquium
XIV week exercises	II colloquium
XV week lectures	Corrective colloquia
XV week exercises

Student workload	Total hours for the course: 4 x 30 = 120 hours; Structure: Classes and the final exam: 5.3 x 16 weeks = 85.3 hours; Necessary preparations before the start of the semester (administration, admission, verification): 5,3x2 = 10,6 hours; Additional work for the preparation and examination of make-up exam: 24,1 hours.
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes regularly and work planned tests. In addition, students are required to do practical and seminal works. The first colloquia will be held on 21.03.2018, and the second one on 25.04.2018. The first colloquia c
Consultations	After hours of lectures and during official terms for consultations published on the website of the Faculty.
Literature	Basic literature: Melović B., Marketing menadžment malog biznisa, chrestomathy, Faculty of Economics, Podgorica, 2014; Lajović D., Melović B., Marketing menadžment malog biznisa, chrestomathy, Faculty of Economics, Podgorica, 2008; Supplementary lite
Examination methods	Points and exam: - class activities: 10 points - seminar paper: 10 points - two colloquia: 2x25 points - final exam: 30 points
Special remarks
Comment	Further information can be obtained from the subject teacher or via the email.

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / MACROECONOMICS FOR ENTREPRENEURS

Course:

MACROECONOMICS FOR ENTREPRENEURS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
5098	Obavezan	8	4	4+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	None
Aims	To introduce main macroeconomic issues to students and understand its impact on business activities
Learning outcomes	After passing this exam, students will be able to: 1. Consider the impact of macroeconomic developments in the country on the business environment; 2. Analyze the impact of the measures of macroeconomic policies on the business activities of enterprises; 3. Use basic macroeconomic indicators in the process of business decision-making; 4. Use basic mathematical, statistical and econometric techniques and tools to analyze the impact of macroeconomic variables on business results; 5. Explain the effect of changes in international markets (commodity and financial markets) in the national business environment .
Lecturer / Teaching assistant	Prof.dr Maja Bacovic dr Milena Lipovina-Bozovic
Methodology	lectures, exercises, tests

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Macroeconomic environment for business, Indicators
I week exercises	Macroeconomic environment for business, Indicators
II week lectures	Investments
II week exercises	Investments
III week lectures	Financial system and interest rates
III week exercises	Financial system and interest rates
IV week lectures	Business activity, unemployment and inflation
IV week exercises	Business activity, unemployment and inflation
V week lectures	Government and business
V week exercises	Government and business
VI week lectures	Balance of payments and exchange rates
VI week exercises	Balance of payments and exchange rates
VII week lectures	Preparation, test
VII week exercises	Preparation, test
VIII week lectures	Fiscal policy and impact on business
VIII week exercises	Fiscal policy and impact on business
IX week lectures	Monetary policy and business
IX week exercises	Monetary policy and business
X week lectures	International economic policy
X week exercises	International economic policy
XI week lectures	Globalization
XI week exercises	Globalization
XII week lectures	Transaction costs
XII week exercises	Transaction costs
XIII week lectures	Rational expectations
XIII week exercises	Rational expectations
XIV week lectures	Knowledge and human capital
XIV week exercises	Knowledge and human capital
XV week lectures	Macroeconomic models
XV week exercises	Macroeconomic models

Student workload	5 ECTS, 8 hours per week, 150 hours per semester
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises -1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Lectures, exams, presentations, research paper
Consultations	www.ekonomija.ac.me
Literature	J..Sloman, K.Hindle: “Economic for Business”, Prentice Hall, England, 2007 Olivier Blanchard: Makroekonomija, Mate, Zagreb, 2005 Veselin Vukotić “Makroekonomski računi i modeli”, CID, 2001, 2006
Examination methods	test, paper
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / PUBLIC SECTOR ECONOMICS

Course:

PUBLIC SECTOR ECONOMICS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
5099	Obavezan	8	6	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	No prerequisites
Aims	Analysis of public sector, exploring and understanding the balance between private and public sector, the extent to which two sectors complement each other and the methods for state to pursue its goals more effectively
Learning outcomes	Upon completion of this course, student will be able to review the role and importance of the public sector and critically evaluate the role of the state in the economy, understand the methods of analysis and decision-making in the public sector and forms of organization of the public sector, to analyze how to improve the economic efficiency of the public sector in market economies, analyze economic effects of strategies and projects of the public sector and analyze the specific effects of the application of economic policies.
Lecturer / Teaching assistant	Professor Milivoje Radović, PhD; Teaching assistant:Milena Radonjić, Msc
Methodology	Lectures and seminars; discussions and short oral tests of understanding the subject matter treated during lectures and seminars two preliminary exams (written) and final exam (oral); homeworks and research papers.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	The public sector in mixed economy
I week exercises	The public sector in mixed economy
II week lectures	Market efficiency
II week exercises	Market efficiency
III week lectures	Market failure
III week exercises	Market failure
IV week lectures	Efficiency and equity
IV week exercises	Efficiency and equity
V week lectures	Public goods and publicly provided goods
V week exercises	Public goods and publicly provided goods
VI week lectures	Public choice
VI week exercises	Public choice
VII week lectures	First preliminary exam (written)
VII week exercises	First preliminary exam (written)
VIII week lectures	Public production and bureaucracy
VIII week exercises	Public production and bureaucracy
IX week lectures	Externalities and environment
IX week exercises	Externalities and environment
X week lectures	The analysis of expenditure policy
X week exercises	The analysis of expenditure policy
XI week lectures	Cost-benefit analysis. Health care
XI week exercises	Cost-benefit analysis. Health care
XII week lectures	Defense and technology. Social insurance
XII week exercises	Defense and technology. Social insurance
XIII week lectures	Welfare programs and the redistribution. Education.
XIII week exercises	Welfare programs and the redistribution. Education.
XIV week lectures	Second preliminary exam (written)
XIV week exercises	Second preliminary exam (written)
XV week lectures	Final exam (oral)
XV week exercises	Final exam (oral)

Student workload	Per week: 6 credits x 40/30 = 8 hours Structure: Lectures: 2 hours Seminars: 2 hours Individual work: 4 hours including tutorials Per semester: Subject workload 6 x 30 = 180 hours Structure: Classes and final exam: 8 x 16 weeks = 128 hours Preparation needed before start of semester (administration, enrolment and verification): 8 x 2 =16 hours Additional work for preparing and takng exams in re-sit period: 48 hours
Per week	Per semester
6 credits x 40/30=8 hours and 0 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 4 hour(s) i 0 minuts of independent work, including consultations	Classes and final exam: 8 hour(s) i 0 minuts x 16 =128 hour(s) i 0 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 8 hour(s) i 0 minuts x 2 =16 hour(s) i 0 minuts Total workload for the subject: 6 x 30=180 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 36 hour(s) i 0 minuts Workload structure: 128 hour(s) i 0 minuts (cources), 16 hour(s) i 0 minuts (preparation), 36 hour(s) i 0 minuts (additional work)
Student obligations	Students must attend lectures and seminars and participate actively.
Consultations	Consultations take place within established terms which are published on website or by mail.
Literature	J.E.Stiglitz, „Ekonomija javnog sektora“, Ekonomski fakultet Beograd, 2008
Examination methods	- Two midterms with multiple choice questions (each of them has 25 points) - Research paper (25 points) - Final exam (25 points)
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / THEORY AND ANALYSIS OF ECONOMIC POLICY

Course:

THEORY AND ANALYSIS OF ECONOMIC POLICY/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
5100	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / COMPARATIVE TAX LAW

Course:

COMPARATIVE TAX LAW/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
5101	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / PORTFOLIO ANALYSIS

Course:

PORTFOLIO ANALYSIS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
5109	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	None
Aims	Portfolio Analysis is designed to provide an overview of basic analytical skills in portfolio construction, management and protection. After completing this course students will be able to understand complex analytical concepts behind the portfolio management process.
Learning outcomes	After passing this exam, the student will be able to: 1. Recognize and describe concept of a rational investor. 2. Explain the statistical concepts of financial risks measurement. 3. Evaluate and forecast the relationship between expected return and risk of N securities portfolio, using statistical software. 4. Identify and assess value of financial instruments. 5. Make a selection of optimal portfolio in national and international context.
Lecturer / Teaching assistant	Saša Popović, Ph.D., Jelena Jovović
Methodology	Lectures and Exercises, Group research, Case studies, Individual research

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction
I week exercises	Practical check of knowledge related to basic statistical indicators
II week lectures	Notion of rational investor
II week exercises	Software simulation of basic statistical concepts in portfolio analysis
III week lectures	Return, risk and 3 sigma rule
III week exercises	Software simulation of risk and return models in portfolio analysis
IV week lectures	An Security Portfolio and Covariance matrix
IV week exercises	Portfolio of 3 securities - descriptive statistics in Excel
V week lectures	Analytical interpretation of two risky assets portfolio
V week exercises	Quantitative analysis of two risky asset portfolio - Excel
VI week lectures	Efficient frontier; Short-selling; Risk-free investing
VI week exercises	Quantitative analysis of risky and risk-free asset portfolio - Excel
VII week lectures	Preparation for midterm exam
VII week exercises	Practical preparation for midterm exam
VIII week lectures	Midterm exam
VIII week exercises	Software simulation of short selling and plotting Efficient Frontier of a n-asset portfolio
IX week lectures	Optimal portfolio selection
IX week exercises	Software simulation of portfolio optimization
X week lectures	International Diversification
X week exercises	Software simulation of portfolio optimization
XI week lectures	Tests of EMH
XI week exercises	Quantitative analysis of capital assests pricing model
XII week lectures	Capital market equilibrium models
XII week exercises	Quantitative analysis of APT model
XIII week lectures	Portfolio strategies
XIII week exercises	Portfolio optimization-case study
XIV week lectures	Portfolio selection and optimization
XIV week exercises	Portfolio optimization-case study
XV week lectures	Preparation for endterm exam
XV week exercises	Endterm exam

Student workload	per week 4 ECTS x 40/30=5.20 hours Structure: 1.3 hours of lectures 1.3 hours of exercises 2.2 hours of individual work and consultations per semester Total course workload: 4ECTS x 30 =120 hours Structure: Lectures and Final exam: 5.2 x 16 weeks= 85.20 hours Necessary preparations before beginning of semester: (administration, enrollment and verification): 5.2 x 2 weeks=10.40 hours Additional hours for preparation and examination in second exam term
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Compulsory attendance to lectures and exercises, group research work and individual research.
Consultations	in scheduled terms
Literature	Robert Strong, Portfolio Construction, Optimization and Protection, Cengage Learning, 2009. Sasa Popovic, Portfolio analiza – kvantitativni aspekti investiranja u hartije od vrijednosti, Modus, Podgorica, 2000.
Examination methods	Lecture activities 5 points Written exam I part 45 points Written exam II part 45 points Group research work 5 points
Special remarks
Comment	• For the purpose of this course computer rook necessary. • Lectures and exercises can be held in English. • For the purpose of this course we launched website www.finansije.net

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / STRATEGIC MANAGEMENT

Course:

STRATEGIC MANAGEMENT/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
5111	Obavezan	8	6	4+1+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
6 credits x 40/30=8 hours and 0 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 1 excercises 3 hour(s) i 0 minuts of independent work, including consultations	Classes and final exam: 8 hour(s) i 0 minuts x 16 =128 hour(s) i 0 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 8 hour(s) i 0 minuts x 2 =16 hour(s) i 0 minuts Total workload for the subject: 6 x 30=180 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 36 hour(s) i 0 minuts Workload structure: 128 hour(s) i 0 minuts (cources), 16 hour(s) i 0 minuts (preparation), 36 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / SMALL AND MEDIUM ENTERPRISES MANAGEMENT

Course:

SMALL AND MEDIUM ENTERPRISES MANAGEMENT/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
5112	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ACCAUNTING OF COSTS

Course:

ACCAUNTING OF COSTS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
6975	Obavezan	8	5	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	It is desirable that student has passed exams on Economics of enterprise and Accounting
Aims	The focus of this course is internal area if business. Its main feature is a calculation of cost impacts – essential information output. Cost accounting is dealing with inclusion, distribution and allocation of costs to their cost objects (holders) and cost centres. Cost accounting is a set of principles, methods and procedures for identification of costs and their use for the purposes of balancing, business decision-making, periodic planning and reporting, as well as for cost control and performance measurement. The relevant knowledge of this course should contribute to students to successfully implement cost accounting systems in particular company and to know how to use cost data for management purposes.
Learning outcomes
Lecturer / Teaching assistant	Ana Lalevic Filipovic, PhD, professor Selma Demirovic, MSc, teaching assistant
Methodology	Lectures and practical exercises with consultations.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	ACCOUNTING OF COMPANIES: ESSENCE, STRUCTURE, FUNCTION AND MODERN APPROACH The functioning of the Accounting Information System (AIS), Relations between Financial and Management Accounting, The concept of cost accounting.
I week exercises	ACCOUNTING OF COMPANIES: ESSENCE, STRUCTURE, FUNCTION AND MODERN APPROACH The functioning of the Accounting Information System (AIS), Relations between Financial and Management Accounting, The concept of cost accounting.
II week lectures	BASIS COST ACCOUNTING SYSTEMS The calculation of costs and outputs; Outputs and cost objects; Interim and final cost objects; Costs of production companies; Immediate cost drivers in production companies.
II week exercises	BASIS COST ACCOUNTING SYSTEMS The calculation of costs and outputs; Outputs and cost objects; Interim and final cost objects; Costs of production companies; Immediate cost drivers in production companies.
III week lectures	ORGANIZATIONAL, METHODOLOGICAL AND REGULATORY ASPECTS OF COST ACCOUNTING Concept and classifications of costs; Factors of the workflow process.
III week exercises	ORGANIZATIONAL, METHODOLOGICAL AND REGULATORY ASPECTS OF COST ACCOUNTING Concept and classifications of costs; Factors of the workflow process.
IV week lectures	COST ACCOUNTING SYSTEMS; COST ACCOUNTING SYSTEM BASED ON ACTUAL COSTS Selection of cost accounting systems; Methodology of cost accounting system based on actual costs; The calculation of the total actual costs using the drive list and bookkeeping accoun
IV week exercises	COST ACCOUNTING SYSTEMS; COST ACCOUNTING SYSTEM BASED ON ACTUAL COSTS Selection of cost accounting systems; Methodology of cost accounting system based on actual costs; The calculation of the total actual costs using the drive list and bookkeeping accoun
V week lectures	CALCULATION OF ACTUAL COST PRICE Aims and types of calculations; Methods of calculation; Disadvantages of the cost accounting system based on actual costs.
V week exercises	CALCULATION OF ACTUAL COST PRICE Aims and types of calculations; Methods of calculation; Disadvantages of the cost accounting system based on actual costs.
VI week lectures	STANDARD AND PLANNED COSTING SYSTEMS Standard costing: issues and problems; Standardization of costs.
VI week exercises	STANDARD AND PLANNED COSTING SYSTEMS Standard costing: issues and problems; Standardization of costs.
VII week lectures	Free week
VII week exercises	Free week
VIII week lectures	Midterm exam 1
VIII week exercises	Midterm exam 1
IX week lectures	DIRECT COSTING SYSTEM BASED ON VARIABLE COSTS Basis of a cost accounting system based on variable costs; Theoretical and methodological basis for a cost accounting system based on standard variable costs; Limitations and benefits of a standard variable c
IX week exercises	DIRECT COSTING SYSTEM BASED ON VARIABLE COSTS Basis of a cost accounting system based on variable costs; Theoretical and methodological basis for a cost accounting system based on standard variable costs; Limitations and benefits of a standard variable c
X week lectures	COST ACCOUNTING SYSTEM BASED ON STANDARD VARIABLE COSTS Concept, objectives and assumptions of standard variable cost accounting system;
X week exercises	COST ACCOUNTING SYSTEM BASED ON STANDARD VARIABLE COSTS Concept, objectives and assumptions of standard variable cost accounting system;
XI week lectures	MODERN COST ACCOUNTING SYSTEMS Activity-based costing
XI week exercises	MODERN COST ACCOUNTING SYSTEMS Activity-based costing
XII week lectures	MODERN COST ACCOUNTING SYSTEMS Target costing
XII week exercises	MODERN COST ACCOUNTING SYSTEMS Target costing
XIII week lectures	MODERN COST ACCOUNTING SYSTEMS Product life cycle costing
XIII week exercises	MODERN COST ACCOUNTING SYSTEMS Product life cycle costing
XIV week lectures	ACTUAL ISSUES AND FURTHER DEVELOPMENT OF COST ACCOUNTING Actual problems and perspectives of cost accounting in national accounting practice
XIV week exercises	ACTUAL ISSUES AND FURTHER DEVELOPMENT OF COST ACCOUNTING Actual problems and perspectives of cost accounting in national accounting practice
XV week lectures	Midterm exam 2
XV week exercises	Midterm exam 2

Student workload	per week 5 ECTS x 40/30 = 6.67 hours Structure: Lectures: 2 classes Exercises: 2 classes Individual student work: 1.67 hours per semester Total hours for course: 5 ECTS x 30 = 150 hours Structure: Teaching and final exam: 16 weeks x 6.67 h= 106.72 h Preparation before the start of semester: 2 weeks x 6.67 hours = 13.34 hours Additional work to prepare and take an exam in additional term: 30 hours
Per week	Per semester
5 credits x 40/30=6 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 2 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 6 hour(s) i 40 minuts x 16 =106 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 6 hour(s) i 40 minuts x 2 =13 hour(s) i 20 minuts Total workload for the subject: 5 x 30=150 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 30 hour(s) i 0 minuts Workload structure: 106 hour(s) i 40 minuts (cources), 13 hour(s) i 20 minuts (preparation), 30 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes and to take exams.
Consultations	Ana Lalevic Filipovic, PhD, professor: savana@t-com.me Selma Demirovic, MSc, teaching assistant: selmad@ac.me
Literature	• Malinic Slobodan: Racunovodstvo troskova, Kragujevac, 2009 • Stevanovic, Malinic, Milicevic: Upravljacko racunovodstvo, Beograd, 2008
Examination methods	• Two tests with a maximum 30 points (Test is contained of exercises and theoretical questions. Exercises take a maximum 20 points and theoretical part a maximum 10 points.Student needs to achieve a minimum 15 points to pass a test (within minimum 15 poin
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ADVANCED FINANCIAL REPORTS

Course:

ADVANCED FINANCIAL REPORTS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
6976	Obavezan	8	5	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	-
Aims	Understanding of International Accounting Standards and International Financial Reporting Standards through theory and practice.
Learning outcomes	Students will be able to: 1. Recognize and explain International Accounting Standards 2. Recognize and explain the International Financial Reporting Standards 3. Apply international standards 4. Evaluate whether the reporting was done in accordance with international standards
Lecturer / Teaching assistant	Milijana Novovic Buric, assistant professor, Tanja Lakovic, teaching assistant
Methodology	lectures and exercises

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Conceptual Framework for Financial Reporting
I week exercises	Conceptual Framework for Financial Reporting
II week lectures	International Accounting Standards 1, International Accounting Standards 34
II week exercises	International Accounting Standards 1, International Accounting Standards 34
III week lectures	International Accounting Standards 8
III week exercises	International Accounting Standards 1
IV week lectures	International Accounting Standards 16, International Accounting Standards 38
IV week exercises	International Accounting Standards 16, International Accounting Standards 38
V week lectures	International Accounting Standards 36
V week exercises	International Accounting Standards 36
VI week lectures	International Accounting Standards 37
VI week exercises	International Accounting Standards 1
VII week lectures	Test 1
VII week exercises	Test 1
VIII week lectures	International Accounting Standards 11
VIII week exercises	International Accounting Standards 11
IX week lectures	Make- up test 1
IX week exercises	Make-up Test 1
X week lectures	International Accounting Standards 23
X week exercises	International Accounting Standards 23
XI week lectures	International Accounting Standards 2
XI week exercises	International Accounting Standards 2
XII week lectures	International Accounting Standards 7
XII week exercises	International Accounting Standards 7
XIII week lectures	Ethics in accounting and financial reporting
XIII week exercises	Ethics in accounting and financial reporting
XIV week lectures	Seminar work presentation
XIV week exercises	Seminar work presentation
XV week lectures	Test II
XV week exercises	Make - up Test II

Student workload	per week 5 credits x 40/30 = 6,67 hours Structure: 2 hours of lectures 2 hours of exercises 2,67 hour of independent work including consultation per semester 5x30=150 hours Structure: Lectures and final exams: 6,67x16= 106,72 hours Preparation before the start of semester (administration, enrolment): 6,67x2 = 13,34 hours. Additional work - preparation for the corrective exam period: 29,94 hours
Per week	Per semester
5 credits x 40/30=6 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 2 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 6 hour(s) i 40 minuts x 16 =106 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 6 hour(s) i 40 minuts x 2 =13 hour(s) i 20 minuts Total workload for the subject: 5 x 30=150 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 30 hour(s) i 0 minuts Workload structure: 106 hour(s) i 40 minuts (cources), 13 hour(s) i 20 minuts (preparation), 30 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes
Consultations	Available at web site of the Faculty
Literature	Mandatory: International Accounting Standards International Financial Reporting Standards
Examination methods	Test I - 25 points, Test II- 25 points, class activities -20 points, final exam -30 points
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ACCOUNTING OF FINANCIAL INSTITUTIONS

Course:

ACCOUNTING OF FINANCIAL INSTITUTIONS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
6977	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	-
Aims	: to introduce students to the issues of financial reporting of financial institutions (banks and insurance companies). Preparing students for independent analysis of financial statements and accounting records of business transactions of the financial institutions.
Learning outcomes	Students will be able to: 1. Define financial markets, institutions and instruments 2. Define bank and explain banking operations 3. Explain the risk and insurance as a form of risk management 4. Interpret specifics of banking accounting 5. Interpret specifics of accounting of insurance companies 6. Apply accounting techniques in banking and insurance
Lecturer / Teaching assistant	Milijana Novovic Buric, assistant professor
Methodology	lectures and exercises

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Financial markets, money and capital markets
I week exercises	Financial markets, money and capital markets
II week lectures	Financial institutions
II week exercises	Financial institutions
III week lectures	Financial instruments
III week exercises	Financial instruments
IV week lectures	Basics of financial institutions accounting. Accounting concepts and principles.
IV week exercises	Basics of financial institutions accounting. Accounting concepts and principles.
V week lectures	Financial reporting. Elements of financial statements.
V week exercises	Financial reporting. Elements of financial statements.
VI week lectures	Internal control in financial institutions. Auditing board and external control of financial statements
VI week exercises	Internal control in financial institutions. Auditing board and external control of financial statements
VII week lectures	I test
VII week exercises	Free week
VIII week lectures	Accounting of banks
VIII week exercises	Accounting of banks
IX week lectures	Make-up I test
IX week exercises	Make up I test
X week lectures	Methodology of bank accounting
X week exercises	Methodology of bank accounting
XI week lectures	Accounting treatment of active, passive and neutral banking operations
XI week exercises	Accounting treatment of active, passive and neutral banking operations
XII week lectures	Specificity of insurance companies accounting
XII week exercises	Specificity of insurance companies accounting
XIII week lectures	Accounting treatment of revenue and expenses of insurance companies
XIII week exercises	Accounting treatment of revenue and expenses of insurance companies
XIV week lectures	Accounting treatment of the technical reserves of life and non-life insurance
XIV week exercises	Accounting treatment of the technical reserves of life and non-life insurance
XV week lectures	Test II
XV week exercises	Make-up Test II

Student workload	per week 4 credits x 40/30 = 5,33 hours Structure: 2 hours of lectures 2 hours of exercises 1,33 hour of independent work including consultation per semester 4x30=120 hours Structure: Lectures and final exams: 5,33x16= 85,28 hours Preparation before the start of semester (administration, enrolment): 5,33x2 = 10,66 hours. Additional work - preparation for the corrective exam period: 24,06 hours
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes
Consultations	available at web site of the Faculty of Economics
Literature	Mandatory: • Bankarsko računovodstvo, CID Ekonomski fakultet Beograd, 2008. god. • Računovodstvo osiguravajućih kompanija, CID Ekonomski fakultet Beograd, 1999. god. • Materijali sa predavanja i vježbi Additional: • Računovodstvo osiguravajućih druš
Examination methods	Test I - 25 points, Test II- 25 points, class activities -10 points, final exam -40 points
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / BUDGET ACCOUNTING

Course:

BUDGET ACCOUNTING/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
6978	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / CORPORATE ANALYSIS AND CONTROL

Course:

CORPORATE ANALYSIS AND CONTROL/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
6979	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	/
Aims	To enable students to acquire relevant theoretical and practical knowledge in the field of corporate governance necessary for understanding the relationships between owners, investors, management, and other stakeholders. Students need to master experiences from comparative practice in this area since this market institution is slowly evolving in transition countries.
Learning outcomes	After passing this exam, students will be able to: Analyze and critically discuss key concepts in the field of corporate governance and corporate social responsibility. Evaluate different models of corporate governance in comparative practice. Assess firm theories to explain the essence of the agency problem. Analyze internal and external mechanisms of corporate governance aimed at increasing economic efficiency. Evaluate and analyze control mechanisms within corporations. Analyze and interpret the competencies of different organs within a business entity.
Lecturer / Teaching assistant	Prof. Milan Lakićević, PhD Milica Vukčević, MSc
Methodology	Lectures, exercises, seminars, tests, consultations, debates during exercise classes, and examples from practice.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Registration, preparation, and enrollment for the semester.
I week exercises	Registration, preparation, and enrollment for the semester.
II week lectures	The concept and nature of a business entity. Business entity and stakeholders. Protection of third-party interests. Types of business entities. Modern corporation and corporate governance.
II week exercises	The concept and nature of a business entity. Business entity and stakeholders. Protection of third-party interests. Types of business entities. Modern corporation and corporate governance.
III week lectures	Joint-stock company - definition, types, and characteristics. Definition, significance, and role of corporate governance. Examples from comparative international and domestic business practices.
III week exercises	Joint-stock company - definition, types, and characteristics. Definition, significance, and role of corporate governance. Examples from comparative international and domestic business practices.
IV week lectures	Efects of corporate governance on company performance
IV week exercises	Effects of corporate governance on company performance
V week lectures	Models of corporate governance in comparative practice. Legal, economic, and social environment for the development of individual models. Convergence of corporate governance models.
V week exercises	Models of corporate governance in comparative practice. Legal, economic, and social environment for the development of individual models. Convergence of corporate governance models.
VI week lectures	Corporate governance in national theory and practice, Analysis of the corporate governance system in Montenegro. Regulatory framework. Soft law. Corporate governance and company law in transition countries.
VI week exercises	Corporate governance in national theory and practice, Analysis of the corporate governance system in Montenegro. Regulatory framework. Soft law. Corporate governance and company law in transition countries.
VII week lectures	The most significant theories of corporate governance include managerial capitalism, shareholder movement, stakeholder approach, agency theory, stewardship theory, and stakeholder concept.
VII week exercises	The most significant theories of corporate governance include managerial capitalism, shareholder movement, stakeholder approach, agency theory, stewardship theory, and stakeholder concept.
VIII week lectures	Corporate governance mechanisms - external mechanisms of corporate governance, and the first colloquium.
VIII week exercises	Corporate governance mechanisms - external mechanisms of corporate governance, and the first colloquium.
IX week lectures	Internal mechanisms of corporate governance.
IX week exercises	Internal mechanisms of corporate governance.
X week lectures	The organs of a joint-stock company and the distribution of power. The general meeting of shareholders and corporate governance. Examples from practice.
X week exercises	The organs of a joint-stock company and the distribution of power. The general meeting of shareholders and corporate governance. Examples from practice.
XI week lectures	Corporate governance and the role of minority shareholders - shareholder information, control mechanisms, the principle of equal treatment, property rights, ways of violation, and protection of shareholder rights in comparative business and legal practice.
XI week exercises	Corporate governance and the role of minority shareholders - shareholder information, control mechanisms, the principle of equal treatment, property rights, ways of violation, and protection of shareholder rights in comparative business and legal practice.
XII week lectures	Board of directors and corporate governance. Selection and operation. Responsibility of board members. Role of the chairman of the board of directors in comparative and domestic practice. Number of members and co-optation.
XII week exercises	Board of directors and corporate governance. Selection and operation. Responsibility of board members. Role of the chairman of the board of directors in comparative and domestic practice. Number of members and co-optation.
XIII week lectures	Executive, non-executive, and independent directors in a joint-stock company. Important theoretical legal documents and their practical significance. Revolution within the European Union. Committees of the board of directors and their role. Director remuneration - recommendations and practice.
XIII week exercises	Executive, non-executive, and independent directors in a joint-stock company. Important theoretical legal documents and their practical significance. Revolution within the European Union. Committees of the board of directors and their role. Director remuneration - recommendations and practice.
XIV week lectures	Duties towards the business entity. National and comparative experiences. Examples of best practices. Cases of breach of duties. Second colloquium.
XIV week exercises	Duties towards the business entity. National and comparative experiences. Examples of best practices. Cases of breach of duties. Second colloquium.
XV week lectures	Corrective colloquiums. Supervisory board and other internal control mechanisms in a joint-stock company.
XV week exercises	Corrective colloquiums. Supervisory board and other internal control mechanisms in a joint-stock company.

Student workload	Weekly: 4 credits x 40/30 = 5 hours and 20 minutes 1 hour and 30 minutes of theoretical lectures 1 hour and 30 minutes of practical exercises 2 hours and 20 minutes of independent work, including consultations During the semester: Teaching and final exam: 5 hours and 20 minutes x 16 = 85 hours and 20 minutes Necessary preparation before the start of the semester (administration, enrollment, verification): 5 hours and 20 minutes x 2 = 10 hours and 40 minutes Total workload for the subject: 4 x 30 = 120 hours Additional work for exam preparation in the retake exam period, including taking the retake exam from 0 to 30 hours (remaining time from the first two items to the total workload for the subject) 24 hours Load structure: 85 hours and 20 minutes (teaching), 10 hours and 40 minutes (preparation), 24 hours (additional work)
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Attendance at classes, active participation of students during exercises, seminar preparation with presentations during exercises.
Consultations	Professor: Tuesday (from 11:00 to 12:00, room 305) Assistant: Thursday (from 11:00 to 12:30, room 416)
Literature	 Dr Mijat Jocović – „Pravo privrednih društava“– Ekonomski fakultet, Podgorica, 2022.  Mallin, C. (2016). Corporate governance. Oxford university press.  Vasiljević, M.: Korporativno upravljanje, pravni aspketi, Pravni fakultet, Beograd, 2007.  Korporativno upravljanje, priručnik, IFC, Podgorica 2009
Examination methods	• Two colloquiums (maximum of 30 points each) • In-class activities, seminar papers, and homework assignments from 0 to 10 points • Final exam from 0 to 30 points A passing grade is obtained if a cumulative total of at least 50 points is achieved.
Special remarks	/
Comment	/

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / BUSINESS ANALYSIS

Course:

BUSINESS ANALYSIS/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
7210	Obavezan	6	10	4+4+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	/
Aims	Introducing basic financial statements based on IAS and IFRS, as well as basic methods and techniques of financial statement analysis, to make wise business and investing decisions.
Learning outcomes	• The student understands, interprets, and analyzes general-purpose financial statements. • Calculates indicators and uses information in financial reports to evaluate the financial and profitability position of the company. • The student applies methods of analysis (method of induction, method of deduction, method of comparison, method of choosing a unit of measure, etc.) and concludes the state or phenomenon that was the subject of analysis. • The student uses and applies IAS and IFRS, which define the conceptual framework for preparing and compiling financial statements and assessing balance sheet positions. • Plans and predicts the movement of financial indicators based on the data obtained from the analysis (performs synthesis).
Lecturer / Teaching assistant	Professor: prof. Milan Lakićević, PhD Teaching Assistant: Milica Vukčević, MSc
Methodology	Lectures and exercises. Checking of understanding and knowledge of the material will be organized through tasks and examples for independent work, as well as additional explanations of the material covered through consultations. The exam involves a colloquium and a final exam.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Corporate reporting, form and content of financial statements, users of financial statements, qualitative and quantitative characteristics of financial statements, and information to be published in financial statements.
I week exercises	Corporate reporting, form and content of financial statements, users of financial statements, qualitative and quantitative characteristics of financial statements, and information to be published in financial statements.
II week lectures	Balance theory. Static theory, dynamic theory, and organic balance theory. Types of balances.
II week exercises	Balance theory. Static theory, dynamic theory, and organic balance theory. Types of balances.
III week lectures	Basics of analysis: subject, objectives, and assignments of analysis, types, and methods of analysis. Classification and position sequence in the balance sheet.
III week exercises	Basics of analysis: subject, objectives, and assignments of analysis, types, and methods of analysis. Classification and position sequence in the balance sheet.
IV week lectures	Principles of balancing and assessment of balance positions.
IV week exercises	Principles of balancing and assessment of balance positions.
V week lectures	Asset position analysis: Fixed assets analysis; Analysis of wear and tear of fixed assets; Analysis of the efficiency of the use of fixed assets; Analysis of the degree of capacity utilization; analysis of technical equipment.
V week exercises	Asset position analysis: Fixed assets analysis; Analysis of wear and tear of fixed assets; Analysis of the efficiency of the use of fixed assets; Analysis of the degree of capacity utilization; analysis of technical equipment.
VI week lectures	Current assets analysis: Analysis of the structure and speed of turnover of current assets.
VI week exercises	Current assets analysis: Analysis of the structure and speed of turnover of current assets.
VII week lectures	Analysis of a company`s financial position: Financial equilibrium analysis.
VII week exercises	Analysis of a company`s financial position: Financial equilibrium analysis.
VIII week lectures	Analysis of a company`s financial position: Debt analysis; Analysis of preserving the real value of own capital, Analysis of reproductive capacity.
VIII week exercises	Analysis of a company`s financial position: Debt analysis; Analysis of preserving the real value of own capital, Analysis of reproductive capacity.
IX week lectures	Income statement: form, content, and methods of preparing an income statement.
IX week exercises	Income statement: form, content, and methods of preparing an income statement.
X week lectures	Income analysis, expenditure analysis, and business cost analysis
X week exercises	Income analysis, expenditure analysis, and business cost analysis
XI week lectures	Analysis of business results, profitability analysis, and analysis of the companys financial strength.
XI week exercises	Analysis of business results, profitability analysis, and analysis of the companys financial strength.
XII week lectures	Break-even analysis and business risk analysis.
XII week exercises	Break-even analysis and business risk analysis.
XIII week lectures	Analysis of the Cash Flow Statement.
XIII week exercises	Analysis of the Cash Flow Statement.
XIV week lectures	Analysis of creditworthiness. Models for predicting bankruptcy of companies.
XIV week exercises	Analysis of creditworthiness. Models for predicting bankruptcy of companies.
XV week lectures	Application of software for financial analysis, Colloquium
XV week exercises	Application of software for financial analysis, Colloquium

Student workload	Weekly 10 credits x 40/30=13 hours and 20 minutes 4 hour(s) of theoretical lectures 0 hour(s) of practical lecture 4 exercises 5 hour(s) and 20 minutes independent work, including consultations In the semester Classes and final exam: 13 hours and 20 minutes x 16 = 213 hours and 20 minutes Necessary preparation before the beginning of the semester (administration, registration, certification): 13 hours and 20 minutes x 2 = 26 hours and 40 minutes Total workload for the course: 10 x 30=300 hours Supplementary work for exam preparation in the make-up exam period, including taking the make-up exam from 0 to 30 hours (remaining time from the first two items to the total workload for the course) 60 hours and 0 minutes Load structure: 213 hours and 20 minutes (teaching), 26 hours and 40 minutes (preparation), 60 hours and 0 minutes (additional work)
Per week	Per semester
10 credits x 40/30=13 hours and 20 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 4 excercises 5 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 13 hour(s) i 20 minuts x 16 =213 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 13 hour(s) i 20 minuts x 2 =26 hour(s) i 40 minuts Total workload for the subject: 10 x 30=300 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 60 hour(s) i 0 minuts Workload structure: 213 hour(s) i 20 minuts (cources), 26 hour(s) i 40 minuts (preparation), 60 hour(s) i 0 minuts (additional work)
Student obligations	Students are required to attend classes, solve tasks that are given for independent practice and evaluation, and pass the colloquium.
Consultations	Professor: Tuesday (from 11:00 a.m. to 12:00 p.m., room 305) Assistant: Friday (from 5:00 p.m. to 8:20 a.m., room 416)
Literature	 J. Rodić, M. Andrić, G. Vukelić, B. Vuković: Analiza finansijskih izvještaja, Ekonomski fakultet Subotica, drugo dopunjeno i izmijenjeno izdanje, beograd oktobar 2017. godina Additional Literature:  K Škarić Jovanović, J. Poljašević: Primijenjena teorija i politike finansijskog izvjetavanja – zbirka zadataka, Ekonomski fakultet Banja Luka, Banja Luka 2013. godine  P. Bogetić: Analiza bilansa, Ekonomski fakultet Podgorica, 2000. godine.  K. Vasiljević: Teorija i analiza bilansa, Savremena administracija, Beograd, 1970. godina  J. Ranković: Teorija bilansa, Ekonomski fakultet Beograd, 2005. godinr.  G. Ruth: Analiza finansijskih izvještaja, Vijesti, 2006. godine.  IFRS Standardi, Savez računovođa i revizora Srbije, Beograd 2020. godine
Examination methods	Colloquium 60 points Final exam 40 points
Special remarks	/
Comment	/

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / PRINCIPLES OF STRATEGIC MANAGEMENT

Course:

PRINCIPLES OF STRATEGIC MANAGEMENT/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
7211	Obavezan	7	7	4+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims
Learning outcomes
Lecturer / Teaching assistant
Methodology

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures
I week exercises
II week lectures
II week exercises
III week lectures
III week exercises
IV week lectures
IV week exercises
V week lectures
V week exercises
VI week lectures
VI week exercises
VII week lectures
VII week exercises
VIII week lectures
VIII week exercises
IX week lectures
IX week exercises
X week lectures
X week exercises
XI week lectures
XI week exercises
XII week lectures
XII week exercises
XIII week lectures
XIII week exercises
XIV week lectures
XIV week exercises
XV week lectures
XV week exercises

Student workload
Per week	Per semester
7 credits x 40/30=9 hours and 20 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 3 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 9 hour(s) i 20 minuts x 16 =149 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 9 hour(s) i 20 minuts x 2 =18 hour(s) i 40 minuts Total workload for the subject: 7 x 30=210 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 42 hour(s) i 0 minuts Workload structure: 149 hour(s) i 20 minuts (cources), 18 hour(s) i 40 minuts (preparation), 42 hour(s) i 0 minuts (additional work)
Student obligations
Consultations
Literature
Examination methods
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ENLARGEMENT POLICY

Course:

ENLARGEMENT POLICY/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
8023	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	No
Aims	Development of the European integration through EU enlargement policy; comparative experiences of five enlargements of the EU; Western Balkans region and the EU enlargement policy; Accession negotiations; Pre-accession assistance; Cost-benefit analysis of the integration process; Post-accession obligations of Member States; European integration process of Montenegro.
Learning outcomes	• Knows and understands EU development through the waves of enlargement, EU Treaties which defines EU institutions and decision making process, such as the enlargement policy – an composite policy derived from the corps of common EU policies; • Has a knowledge and understanding of European integration process of Montenegro and the region; • Understand the process and reasons for joining the EU and has a critical observation of changes in that process; • Knows how to use a professional literature in the field of European integration, knows how to approach to databases on the EU institutions; correctly interprets the findings of published research through seminar, writing an essay on in a debates;
Lecturer / Teaching assistant	professor Gordana Djurovic, PhD. ; Milica Muhadinovic, assistant;
Methodology	Lectures, exercises, seminars, tests, consultations, debate on exercises and during presentations on selected seminars in certain scientific areas; Innovations during semester - visit to the EU delegation to Montenegro, such as some organisation and EU funded projects in Montenegro are included; Guest lecturers;

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction to the course: Occurrence of the EU and enlargement policy; Idea of the European integration;
I week exercises	Introduction to the method of work and work plan; Plan of the semester;
II week lectures	Enlargements waves to EU15;
II week exercises	"Fact and figures about EU"/check of knowledge on the EU; European values; discussion;
III week lectures	The fifth EU enlargement ;
III week exercises	Case study - Turkey; Iceland; CEE;
IV week lectures	Comparative experiences and lessons learned from 5th enlargement;
IV week exercises	Case studies; Selected new Member States; CEE countries;
V week lectures	The EU accession criteria;
V week exercises	"Enlargement +", "Enlargement fatique", Communication strategy;
VI week lectures	Politički, pravni i ekonomski aspekt pristupanja EU
VI week exercises	Recapitulation; Test;
VII week lectures	Stabilization and Association process of the Western Balkans countries;
VII week exercises	Case study Croatia;
VIII week lectures	Comparative experiences of the countries in the region in the EU integration process;
VIII week exercises	Case studies: Srbia, Macedonia, Bosnia and Herzegovina, Albania, Kosovo;
IX week lectures	European Integration of Montenegro – chronology;
IX week exercises	Responsibilities of the EU; Citizenship of the EU; Lobbying in the EU;
X week lectures	Stabilization and Association Agreement of Montenegro;
X week exercises	Trade libaraisation, regional economic integration - expected benefits and challenges;
XI week lectures	Accession negotiations with the EU, platform, structures and procedures;
XI week exercises	Harmonistioan of legislation; Importance of effective implementation of EU legislation to Montenegrin economy competitiveness growth
XII week lectures	EU pre-accession assistance as support for economic and democratic reforms in country;
XII week exercises	Harmonisation of the national development policy and EU pre-accession policy; Support to the European integration in the Region; Member States opinion on the future enlargement;
XIII week lectures	Cost-benefit analysis of the European integration process;
XIII week exercises	Four scenarios on EU future; Four scenarios on the enlargement policy towards the Western Balkanas region;
XIV week lectures	Strengthening of administrative capacities and European agenda of Montenegro;
XIV week exercises	Programme of economic reforms; Financial analysis on investment into the integration process;
XV week lectures	Post-accession obligations of a new member states and the EU borders;
XV week exercises	Presentation of seminars; discussion; Correction of test;

Student workload	Per week - 4 credits x 40/30 = 5,33 hours; Structure: 2 hours for teaching, 2 hours for exercises, 1.33 hours for individual work, including consultations; Per semester- Total working hours for the course: 4 ECTSx30 =120 hours; Working hours structure: Teaching and the final exam: 5,33x16 weeks = 85 hours; Necessary preparation (administration before semester):5,33x2= 10 hours; Additional hours for preparing correction of the final exam, including the exam taking: up to 25 hours
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Lessons attendance is mandatory for students, as well as participating in debates and doing a test; seminar optional, based on student's interest;
Consultations	Prof dr Gordana Đurović - Monday 16.30-18.30 h, Cabinet 207 / II floor; E-mail - gordana@t-com.me ; Milica Muhadinovic – Friday, 14-15 h, Cabinet 421/IV floor;
Literature	1. Đurović Gordana, Evropska unija i Crna Gora: politika proširenja, Ekonomski fakultet, Podgorica, 2012; 2. Đurović Gordana, Pristupni pregovori sa EU, inovacija udžbenika - dodatak, 2015;
Examination methods	Test (35 points) ; class activity (10) ; seminars, presentations and other forms of direct work with students (20); - final, oral, exam (35 points); Passing grade is obtained if a student cumulatively collects at least 50 points.
Special remarks	No
Comment	Additional info about the course on E-mail of teacher: gordana@t-com.me;

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / MACRO SYSTEM OF THE EUROPEAN UNION

Course:

MACRO SYSTEM OF THE EUROPEAN UNION/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
8024	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	Without specific conditions for the registration and listening of this subject
Aims	Introducing students with: EU legislation; the Lisbon Treaty; decision-making process in the EU; importance and policy of functioning of the EU institutions; structure and the competencies of the EU institutions
Learning outcomes
Lecturer / Teaching assistant	Mijat Jocovic
Methodology	lectures, exercises, seminars, tests, consultations, debate on exercises and during presentations on selected seminars in certain scientific areas

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	The idea of European unification.
I week exercises	The idea of European unification. Examples from practice.
II week lectures	Acquis Communitaire. Relation between EU law and national legislation.
II week exercises	Acquis Communitaire. Relation between EU law and national legislation. Case law.
III week lectures	Sources of the EU law - primary and secondary. Detailed clarification of their legal nature.
III week exercises	Sources of the EU law - primary and secondary. Detailed clarification of their legal nature. Debate.
IV week lectures	Lisbon Treaty and decision making process in the EU.
IV week exercises	Lisbon Treaty and decision making process in the EU. Essay.
V week lectures	Foreign and security policy. Justice, freedom and security.
V week exercises	Foreign and security policy. Justice, freedom and security. Case law.
VI week lectures	Debate and essay.
VI week exercises	Debate and essay.
VII week lectures	First test.
VII week exercises	First test.
VIII week lectures	EU commercial law.
VIII week exercises	EU commercial law. Case law.
IX week lectures	EU Institutions. European Council (structure, organization, competencies, decision making).
IX week exercises	EU Institutions. European Council (structure, organization, competencies, decision making). Case law.
X week lectures	Council (structure, organization, competencies, decision making).
X week exercises	Council (structure, organization, competencies, decision making). Seminar paper presentation.
XI week lectures	European Commision (structure, organization, competencies, decision making).
XI week exercises	European Commision (structure, organization, competencies, decision making).Seminar paper presentation.
XII week lectures	European Parliament (structure, organization, competencies).
XII week exercises	European Parliament (structure, organization, competencies).Seminar paper presentation.
XIII week lectures	European Central Bank.Advisory bodies of the EU. Economic and Social committee and the Committee of he Regions.
XIII week exercises	European Central Bank.Advisory bodies of the EU. Economic and Social committee and the Committee of he Regions.Essay.
XIV week lectures	The EU Court of Justice and Court of Audit.
XIV week exercises	The EU Court of Justice and Court of Audit. Case law.
XV week lectures	Final exam.
XV week exercises	Final exam.

Student workload	per week 4 credits x 40/30 = 5,33h Structure: 2h for lectures 2h exercises 1.33 Individual work. per semester Lectures and final exam 4x30 = 120h Structure: lectures and final exam: 5.33x16weeks= 85h preparation for semestar: 5.33x2= 10h. Additional work: 25h
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	seminar and debate
Consultations	Friday, 10-12.
Literature	Đurovic Gordana: Evropska unija i Crna Gora: politika proširenja, Ekonomski fakultet, Podgorica, 2012. Jean - Claude Piris, The Lisbon Treaty: A Legal and Political Analysis, Cambridge University Press, Cambridge, 2010. Paul Craig, Gráinne de Búrca, EU L
Examination methods	1 tests (max 30) activities in class (max 30) Final exam (max 40)
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / COHESION POLICY AND STRUCTURAL FUNDS OF THE EU

Course:

COHESION POLICY AND STRUCTURAL FUNDS OF THE EU/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
8025	Obavezan	8	4	2+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	No
Aims	The EU Budget: structure of revenues and expenditures, the procedure of adoption, implementation, monitoring. Multi-annual financial framework. Cohesion Policy and Coordination of the EU structural funds; Preparation for the EU cohesion poicy in Montenegro;
Learning outcomes	• Knows and understands EU development through development of the common EU budget, strengthening of structural funds, fulfillment of the economic, social and territorial cohesion goals of the EU as key integration set of goals; • Has knowledge and understanding of process of convergence of the European regions through integration on the EU internal market; links EU regional development and Montenegrin regional development through the process of policy adaptation; • Has knowledge about key Union programmes devoted to youth, education and mobility; understands the EU pre-accession assistance programming process and critically approach to analysis of its impact on encouraging of development of Montenegrin regions and local communities; • Understands key elements of process of preparation of the EU project proposals; knows how to develop project idea for smaller EU funded project; • Knows how to use professional literature in the field of cohesion policy and coordination of the EU structural funds; knows how to access to databases of EU institutions and Union programmes; process integration topics through seminars and essays;
Lecturer / Teaching assistant	professor Gordana Djurovic, PhD. ;
Methodology	Lectures, exercises, seminars, tests, consultations, debate on exercises and during presentations on selected seminars in certain scientific areas; Innovations during semester - visit to the EU delegation to Montenegro, such as some organisation and EU funded projects in Montenegro are included; Guest lecturers;

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Introduction to the course: From regional towards the EU cohesion policy; Economic, social and territorial cohesion in the EU;
I week exercises	Introduction to the method of work and work plan; Plan of the semester; seminars proposal; instruction for seminar preparations;
II week lectures	Budget of the EU; historical development; revenue and expenditure structure;
II week exercises	UK rebate; Analysis of the MFF EU (on the case of 2014-2020); Discussion;
III week lectures	The process of adoption, implementation and control of EU budget;Multi-annual financial framework - MFF;
III week exercises	Simulation of the EU budget/MMF adoption procedure; discussion
IV week lectures	Historical development of the EU regional policy and structural funds;
IV week exercises	ESF, ERDF, Cohesion fund ; funds in agriculture and fishery; - Computer lab - search of important web addresses;
V week lectures	Institutional framework of the EU regional policy;
V week exercises	EC Directorates and the cohesion policy
VI week lectures	Euro regions: differences in development and NUTS classification;
VI week exercises	Recapitulation; Test;
VII week lectures	Effects of the economic integration on the regional disparity; competition vs. solidarity and cohesion;
VII week exercises	Adriatic-Ionian macro-region; Danube region;
VIII week lectures	Pre-accession assistance of the EU; Union programmes;
VIII week exercises	Horizon 2020; Erasmus +; Other Union's programmes;
IX week lectures	Pre-accession assistance of the EU in Montenegro;
IX week exercises	IPA II - ICSP Montenegro, MCSP, sector approach;
X week lectures	Model of the project cycle: the programming of IPA funds; MFF;
X week exercises	IPA in Montenegro; priorities and model of co-financing; cases of IPA projects;
XI week lectures	Audit; Monitoring and evaluation; IPA II Management ;
XI week exercises	Indirect management of IPA; Project proposal; Examples;
XII week lectures	Lessons learned and challenges ahead in project implementation;
XII week exercises	Projekti predlog; Primjeri; Development od project idea (concept);
XIII week lectures	Macroeconomic development trends and regional disparities;
XIII week exercises	Pre-acession assistance and local economic development; Capacity building indicators;
XIV week lectures	Regional development of Montenegro in the context of overall economic development;
XIV week exercises	IPA programmes at local level - examples; Cross border cooperation projects;
XV week lectures	Montenegrin regions; Institutional framework for the regional policy;
XV week exercises	Discussion; Presentation of seminars; Correction of test;

Student workload	Per week; 4 credits x 40/30 = 5,33 hours; Structure: 2 hours for teaching, 2 hours for exercises, 1.33 hours for individual work, including consultations; Per semester: total working hours for the course: 4 ECTSx30 =120 hours; Working hours structure: Teaching and the final exam: 5,33x16 weeks = 85 hours Necessary preparation (administration before semester): 5,33x2= 10 hours. Additional hours for preparing correction of the final exam, including the exam taking: up to 25 hours
Per week	Per semester
4 credits x 40/30=5 hours and 20 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 1 hour(s) i 20 minuts of independent work, including consultations	Classes and final exam: 5 hour(s) i 20 minuts x 16 =85 hour(s) i 20 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 5 hour(s) i 20 minuts x 2 =10 hour(s) i 40 minuts Total workload for the subject: 4 x 30=120 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 24 hour(s) i 0 minuts Workload structure: 85 hour(s) i 20 minuts (cources), 10 hour(s) i 40 minuts (preparation), 24 hour(s) i 0 minuts (additional work)
Student obligations	Lessons attendance is mandatory for students, as well as participating in debates and doing test; seminar optional, based on student's interest;
Consultations	Prof dr Gordana Đurović - Monday 16.30-18.30 h, Cabinet 207 / II floor; E-mail - gordana@t-com.me ;
Literature	1. Đurović Gordana, EU i Crna Gora, ostvarivanje ciljeva ekonomske, socijalne i teritorijalne kohezije, Ekonomski fakultet, Podgorica, 2012; 2. Đurović Gordana, Pretpristupna podrška EU - IPA II, inovacija udžbenika, 2015;
Examination methods	Test (40 points), class activity (5, seminar papers, presentations, and other forms of direct work with students (15), final, oral, exam (40 points); Passing grade is obtained if a student cumulatively collects at least 50 points.
Special remarks	No
Comment	Additional info about the course on E-mail of teacher: gordana@t-com.me ;

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / ECONOMY OF THE EUROPEAN UNION

Course:

ECONOMY OF THE EUROPEAN UNION/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
8100	Obavezan	8	6	4+2+0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites
Aims	Learning about the most important theories of European integration, the significance, development and ways of implementation of the EU's common policies, policies with divided competences and policies that the Member states control; Learning about the European monetary union, common agricultural policy, customs union and the EU's development policy.
Learning outcomes	After passing this exam, the student will be able to: -define basic terms of the EU economy; -recognize the EU's position in modern economic processes; -differentiate EU's economic policy instruments; -connect the development of EU's economy with the development of the Montenegrin economy; -evaluate basic elements of economic policies and their coordination in the EU.
Lecturer / Teaching assistant
Methodology	Lectures, exercises, essays, exam, consultations, debates during exercises and presentation of essays from selected specific areas.

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	Theories of European integration; Size and strength of the EU economy
I week exercises
II week lectures	Development of the EU's common policies and competencies according to Lisbon treaty;
II week exercises
III week lectures	Economy of the EU: EU as a global player, level of development achieved
III week exercises
IV week lectures	Customs union and the foreign trade policy of the EU;
IV week exercises
V week lectures	Common agricultural policy;
V week exercises
VI week lectures	Common fisheries policy; Exam
VI week exercises
VII week lectures
VII week exercises
VIII week lectures	European monetary union;
VIII week exercises
IX week lectures	Social policy and employment in the EU;
IX week exercises
X week lectures	Environmental policy and consumer protection;
X week exercises
XI week lectures	Trans-European networks;
XI week exercises
XII week lectures	Science and research;
XII week exercises
XIII week lectures	Development strategy: Europe 2020;
XIII week exercises
XIV week lectures	Perspective of the EU's common policies;
XIV week exercises
XV week lectures	Convergence criteria and Montenegro; Final exam.
XV week exercises

Student workload	weekly 6 credits x 40/30= 8 hours Structure: 4 hours for lectures 2 hours of exercises, 2 hours of independent work, including consultations. Total exam load: 6x30=180 hours Structure: lectures and final exam - 8x16 weeks=128 hours. Necessary preparations before the semester begins (administration, enrollment, validation): 8x2=16 hours. Additional work on preparation and passing the exam in the additional term: 36 hours.
Per week	Per semester
6 credits x 40/30=8 hours and 0 minuts 4 sat(a) theoretical classes 0 sat(a) practical classes 2 excercises 2 hour(s) i 0 minuts of independent work, including consultations	Classes and final exam: 8 hour(s) i 0 minuts x 16 =128 hour(s) i 0 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 8 hour(s) i 0 minuts x 2 =16 hour(s) i 0 minuts Total workload for the subject: 6 x 30=180 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 36 hour(s) i 0 minuts Workload structure: 128 hour(s) i 0 minuts (cources), 16 hour(s) i 0 minuts (preparation), 36 hour(s) i 0 minuts (additional work)
Student obligations	Attending lectures, active participation during the exercises, writing essays and presenting them.
Consultations	Professor, office 413, nmilovic@ac.me Assistant, office 414, milicamuhadinovic@ac.me
Literature
Examination methods	Exam (35 points) - active participation during exercises (10) - essays,presentations and other types of work with students (20) - Final oral examination (35 points). The student passes the exam when he collects at least 50 points.
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points

Faculty of Economics / ECONOMICS (4 years, 240 ECTS credits) / INTRODUCTION TO THE ECONOMY OF THE EUROPEAN UNION

Course:

INTRODUCTION TO THE ECONOMY OF THE EUROPEAN UNION/

Course ID	Course status	Semester	ECTS credits	Lessons (Lessons+Exercises+Laboratory)
10924	Izborni	6	2	2++0

Programs	ECONOMICS (4 years, 240 ECTS credits)
Prerequisites	Economics (micro and macro)
Aims	Understanding the economical logic of European integration
Learning outcomes	On completion of this course, students will be able to: - Identify the theories of economic integration, the effects of integration and distribution of effects between Member States and third countries. - Examine the significant events in the history of European integration, the EU institutions and decision-making processes. - Explain the economic and socio-political aspect of integration. - Understand the political and institutional structure of major EU policies. - Develop analytical skills that will help them to theoretical knowledge application in practice and analysis of contemporary challenges of European integration.
Lecturer / Teaching assistant	prof. dr Danijela jaćimović
Methodology	Lectures, presentations of students research essays and discussions

Plan and program of work
Preparing week	Preparation and registration of the semester
I week lectures	European integrations: introduction
I week exercises
II week lectures	Economic integrations-effects
II week exercises
III week lectures	Analisis of different regional integrations
III week exercises
IV week lectures	First stepes in european integrations
IV week exercises
V week lectures	European economic community-foundations
V week exercises
VI week lectures	Mastriht, Amsterdam, Nice Trities
VI week exercises
VII week lectures	Chalanges of single market
VII week exercises
VIII week lectures	Debate
VIII week exercises
IX week lectures	Lisabon treaty
IX week exercises
X week lectures	Institutions of the European Union
X week exercises
XI week lectures	Financial institutions of the European union
XI week exercises
XII week lectures	Economic policy of the European Union
XII week exercises
XIII week lectures	Student presentations-EU policies
XIII week exercises
XIV week lectures	Student presentations-EU policies
XIV week exercises
XV week lectures	Student presentations-EU policies
XV week exercises

Student workload	per week 2 credits x 40/30 = 3 sati Structure: 2 hours for lectures 1 hour for independant work, including consultations per semester Total hours for the course: 2x30 = 60 hours Structure: Teaching and final exam: 3x16 weeks= 48 hours Necessary preparation before the start of the semester (administration, regisration, verification): 2x2= 4 hours. Additional work to prepare for the Make-Up Exam: 8 hours
Per week	Per semester
2 credits x 40/30=2 hours and 40 minuts 2 sat(a) theoretical classes 0 sat(a) practical classes 0 excercises 0 hour(s) i 40 minuts of independent work, including consultations	Classes and final exam: 2 hour(s) i 40 minuts x 16 =42 hour(s) i 40 minuts Necessary preparation before the beginning of the semester (administration, registration, certification): 2 hour(s) i 40 minuts x 2 =5 hour(s) i 20 minuts Total workload for the subject: 2 x 30=60 hour(s) Additional work for exam preparation in the preparing exam period, including taking the remedial exam from 0 to 30 hours (remaining time from the first two items to the total load for the item) 12 hour(s) i 0 minuts Workload structure: 42 hour(s) i 40 minuts (cources), 5 hour(s) i 20 minuts (preparation), 12 hour(s) i 0 minuts (additional work)
Student obligations	Lectures, presentations of students research essays and discussions
Consultations	Afeter classes, room 2017, email: danijelaj@ac.me
Literature	Introduction to the European Union by D. Jacimovic, Faculty of Economics, Podgorica, 2015. 2. European Union, by M. Prokopijevic, JP Sluzbeni glasnik, Belgrade, 2005 3. European institutions and Lisabon Treaty by D. Jacimovic, Uprava za kadrove,Podgor
Examination methods	Dabates, seminar papers and presentations
Special remarks
Comment

Grade:	F	E	D	C	B	A
Number of points	less than 50 points	greater than or equal to 50 points and less than 60 points	greater than or equal to 60 points and less than 70 points	greater than or equal to 70 points and less than 80 points	greater than or equal to 80 points and less than 90 points	greater than or equal to 90 points