Digital
economy

Undergraduate Academic Studies -
Economics, Finance, and Business-
240 ECTS

Модул

Digital economy

Type of Study

Undergraduate Academic Studies

Title

Economics, Finance, and Business

ECTS Credits

240

Duration

8 semesters (4 years)

Professional title

Bachelor of Economics

The primary goal of the undergraduate program in Economics, Finance, and Business is to educate economists competent in handling complex tasks in financial institutions such as banks, insurance companies, brokerage firms, audit firms, and other financial organizations. This involves a high level of basic knowledge in the fields of economics, finance, and business, the ability to analyze and solve complex management problems, analyze financial statements, identify and manage risks according to the latest European standards, and more.

COURSES

1. Microeconomics

Semester: 1, Status: Mandatory, ECTS: 9

The main objective is to familiarize students with advancements in the theory of firms and standard methodological tools used in the analysis of complex phenomena in the modern business world. Students should understand the behavior of producers (firms) and consumers (households), which represent the basic units of the economy. The course aims to equip students with a foundational conceptual framework later used in other subjects.

Semester: 1, Status: Mandatory, ECTS: 9

The primary goal is to acquaint students with basic statistical methods of analysis in the fields of banking, insurance, and finance. This includes measures of central tendency, measures of dispersion, methods of correlation and regression analysis, techniques for testing statistical hypotheses, and methods of analyzing time series. The course aims to enable students to perform structural and dynamic analysis of economic and financial phenomena at macro and organizational levels.

Semester: 1, Status: Mandatory, ECTS: 5

The main objective is the development of language and communication skills, acquisition of linguistic corpus in the field of banking and finance for the purpose of mastering business communication skills and using professional literature in English.

Semester: 1, Status: Mandatory, ECTS: 8

The course aims to introduce students to key elements of the legal and institutional framework of business entities. This includes the analysis of legal relationships between business entities and the state (administrative-legal aspect), relationships between business entities (contractual and business law aspects), and the analysis of the structure of different forms of business entities (status aspect).

Semester: 2, Status: Mandatory, ECTS: 9

The goal is to provide insight into the entirety of the economic life of a nation or state, understanding that economic interests of individuals, companies, and society often differ. Students should recognize the general economic interest, principles, and laws governing flows, processes, and relationships within the economic system as a whole.

Semester: 2, Status: Mandatory, ECTS: 9

Introduction to the basics of management, the science and profession of management, and the most important management schools, ranging from scientific, administrative, behavioral, to modern situational approaches in the study of management. Students should understand and master basic techniques and methods of making business decisions in complex conditions of modern enterprises.

Semester: 2, Status: Mandatory, ECTS: 9

Introduction to the theoretical foundation, rules, and procedures of the structure and application of accounting methods. It includes the application of double-entry bookkeeping and the financial reporting system of economic entities. The course aims for students to see the importance of the financial accounting system as a kind of database, a crucial component of the accounting information system as a whole, and as a subsystem of the integral information system of the enterprise.

Semester: 2, Status: Mandatory, ECTS: 5

The main objective is the development of language skills and the acquisition of linguistic corpus in the fields of banking and finance for mastering business communication skills and using professional literature in English.

1. Monetary Economics

Semester: 3, Status: Mandatory, ECTS: 9

The course aims to provide basic knowledge of theoretical and empirical issues related to the role of money in the functioning of a market economy. Students will become familiar with fundamental elements of monetary economics, including the definition of money, money creation and demand, the central bank’s influence on the money supply, and the connection between changes in the money supply and changes in overall economic activity and price levels. The course also introduces theoretical foundations for analyzing the role of monetary policy within a specific market economy.

Semester: 3, Status: Mandatory, ECTS: 9

The objective of the Banking course is for students to understand the role and importance of central and commercial banking in modern financial structures. Students will learn about the role and significance of the central bank in the banking system of a given country, key segments of commercial banks’ activities such as collecting and disbursing funds, and conducting commission and other transactions. The course will also cover the basics of international financial and banking markets.

Semester: 3, Status: Mandatory, ECTS: 7

The course aims to introduce students to basic concepts and possibilities of modern information technologies. Students will gain essential knowledge necessary for further study of various aspects of information systems, including structure, databases, programming, information system development, etc. The course also provides knowledge equivalent to the ECDL (European Computer Driving Licence) certification.

Semester: 3, Status: Mandatory, ECTS: 5

The primary goal is to develop language skills and acquire language proficiency up to the level defined by the program minimum. This is aimed at mastering communication skills in the business environment in English and using professional literature in English.

Semester: 4, Status: Mandatory, ECTS: 9

The course aims to familiarize students with fundamental theoretical and practical issues in the field of public finance necessary for performing tasks in the private and public sectors. It enables understanding of the tax aspect of transactions as a necessary component for decision-making processes in the business environment. The course also helps students recognize and understand public expenditures that affect individuals’ lives and economic trends, emphasizing their significance for both legal and natural persons.

Semester: 4, Status: Mandatory, ECTS: 7

The main objective is to introduce students to basic principles and modern concepts of marketing. This includes concepts such as the value delivery concept, satisfaction and loyalty of consumers, market segmentation, marketing information systems, and more. The course covers basic marketing instruments (product, price, promotion or market communication, and distribution), basic market research techniques, and fundamental aspects of the marketing management process in banks, insurance companies, and business organizations.

Semester: 4, Status: Mandatory, ECTS: 9

The course aims to introduce students to the ways in which modern companies raise financial resources, allocate them, and make decisions in the field of finance. It equips students with the knowledge and techniques required for later careers to contribute to creating new value for owners. The course covers decision-making approaches in financial organizations and companies related to investment, financing, and asset management.

Semester: 4, Status: Mandatory, ECTS: 5

The primary goal is to develop language skills and acquire language proficiency up to the level defined by the program minimum. This is aimed at mastering communication skills in the business environment in English and using professional literature in English.

1. Information Systems Design and Development

Semester: 5, Status: Mandatory, ESPB: 8

The goal of this course is to familiarize students with contemporary theoretical and practical aspects of information system development. It aims to enable students to use the methodology of information system development with a focus on individual phases of system design (planning, design, programming, testing, implementation, maintenance). Students will be trained to apply analysis, design, and implementation methods for information systems using modern software tools. The course also focuses on logical design of information systems using appropriate conventional and object-oriented models and methods.

Semester: 5, Status: Mandatory, ESPB: 8

The objective of this course is to equip students with an understanding of database concepts and database management systems. It covers the application of database design and implementation techniques and their use in a business environment. Students will master techniques for designing database schemas using the ER model, translating the database schema into a relational model, SQL query language details, and data manipulation techniques in databases.

Semester: 5, Status: Elective, ESPB: 11-16

Semester: 5, Status: Elective, ESPB: 8

The course aims to introduce students to the basic functioning of financial markets and present parts of the financial market such as the money market, capital market, and foreign exchange market. It also focuses on providing an understanding of the entire financial industry, with a special emphasis on investment banks.

Semester: 5, Status: Elective, ESPB: 8

The objective is to teach students the basic types and forms of financial risks (commercial-banking, insurance, etc.) in modern banking theory and practice. This includes understanding strategies, policies, models, and instruments used by commercial banks in identifying, managing, and controlling risks.

Semester: 5, Status: Elective, ESPB: 6

The main goal is to prepare students, future entrepreneurs and managers, for successful business activities in entrepreneurial business. It covers understanding the complexity of the entrepreneurial process, from defining a business idea to its practical realization.

Semester: 5, Status: Elective, ESPB: 6

The aim is for students to gain knowledge of the basic concepts, goals, and tasks of human resource management (HRM). This includes understanding HRM practices in developed market economies and different theoretical approaches to the development and use of HRM function.

Semester: 5, Status: Elective, ESPB: 5

The basic goal is to develop students’ language abilities and acquire a language corpus in the field of banking and finance, for the purpose of mastering business communication skills and using professional literature in English.

Semester: 6, Status: Mandatory, ESPB: 7

The objectives of the course are for students to understand the role and significance of information systems for decision-making in financial and other business organizations. It covers the implications of developing new information systems in the context of organizational changes.

Semester: 6, Status: Mandatory, ESPB: 7

The aim is for students to learn basic models of financial mathematics based on interest calculations and the basics of actuarial modeling in tariff calculation processes. This includes using applied tools of financial and actuarial mathematics to solve various problems in the field of economics and finance.

Semester: 6, Status: Mandatory, ESPB: 6

The main objective is to familiarize students with the basic economic, technical-organizational, and legal aspects of insurance, as well as various types of life and non-life insurance. It covers fundamental knowledge related to insurance documents, basic risks subject to insurance, and basic elements of risk management in insurance.

Semester: 6, Status: Elective, ESPB: 13-14

Semester: 6, Status: Elective, ESPB: 7

The course aims to help students understand the basic types and organizational forms of commercial-banking institutions in modern banking theory and practice. It covers various types of credit and non-credit placements, investment of business banks, deposit modalities, capital structure, and capital adequacy.

Semester: 6, Status: Elective, ESPB: 7

The course aims to help students understand the basic types and organizational forms of commercial-banking institutions in modern banking theory and practice. It covers various types of credit and non-credit placements, investment of business banks, deposit modalities, capital structure, and capital adequacy.

Semester: 6, Status: Elective, ESPB: 7

The primary goal is to introduce students to the historical development of European integration, institutions, rules, legislative procedures, competencies, and sources of EU law. The course focuses on the legal regulation of relationships in the EU and highlights the importance of the growing regulation of financial institutions and the legal-regulatory aspects of EU digital law.

Semester: 6, Status: Elective, ESPB: 6

The aim is to enable students to successfully recognize the nature and scale of global financial trends and manage current and future changes in the international financial environment. It covers essential knowledge about supranational financial institutions underlying the international monetary system, as well as the phenomenon of growing and increasingly significant regional integrations, especially the E(M)U.

1. Digital Finance

Semester: 7, Status: Mandatory, ECTS: 8

The aim of this course is to familiarize students with the latest technologies and opportunities provided by the Internet, web technologies, and services in the fields of banking, payment systems, accounting, insurance, and electronic administration. It also aims to introduce the basic principles that have been established in the theory and practice of digital finance, e-business services, and electronic payment models. Additionally, the course aims to develop students’ abilities to apply theoretical knowledge to solve real-world problems.

Semester: 7, Status: Mandatory, ECTS: 8

The objective of this course is to create a conceptual framework for a better understanding of the forces governing marketing and business on the Internet. It aims to enable students to connect knowledge of new technologies with traditional marketing for a better understanding of the essence, advantages, and potential of digital marketing. The course prepares students to interpret and apply marketing concepts in the electronic environment, multichannel marketing, social networks, mobile devices, electronic communication, and to identify and understand modern trends in digital marketing.

Semester: 7, Status: Elective, ECTS: 14-16

Semester: 7, Status: Mandatory, ECTS: 8

The goal of this course is for students to understand the decision-making process at the executive and managerial levels in a financially and productionally globalized environment. It aims to recognize and minimize the negative impact of threats and maximize the benefits of production, trade, and financial internationalization. The course covers motivation for international trade, the effects of different trade policies on various market structures, trade finance, understanding and interpreting the balance of payments and exchange rates, currency risk hedging with derivatives, management of currency risks, policies of Foreign Direct Investments (FDI), Transnational Corporations (TNC), and analysis of country risks and currency crises.

Semester: 7, Status: Mandatory, ECTS: 8

The aim of this course is to provide students with insight into the basic theoretical and methodological concepts needed to understand the field of investment analysis in securities and portfolio management. It introduces a wide range of investment opportunities in modern financial markets and develops the analytical tools used in making important decisions related to investment under risk conditions.

Semester: 7, Status: Elective, ECTS: 7

The objective of this course is for students to understand the essence and key concepts of contemporary investment banking. It covers advanced techniques and methods for securities investment management, decision-making regarding the choice of adequate sources of financing, understanding the process and strategic aspects of mergers and acquisitions, and providing basic services in the field of investment banking.

Semester: 7, Status: Elective, ECTS: 7

This course introduces students to the complex issues of mergers and acquisitions (M&A) as a process of creating new business combinations between economic entities. It covers the strategic dimension of M&A as one of the strategic alternatives for the growth of companies and the management’s tendency to create value for owners. The course also addresses the complex financial issues of M&A, starting from the analysis and evaluation of companies, projections and estimates, to the ability to assess financial effects.

Semester: 8, Status: Mandatory, ECTS: 8

The goal of this course is to introduce students to the main aspects of data analysis, teach them to use software tools, manage and analyze data. It aims to familiarize students with industry best practices and research, enabling them to independently apply mathematical and statistical methods in market research, consumer behavior analysis, preparation and analysis of internet marketing campaigns, as well as the analysis of large data sets in financial institutions and other business organizations.

Semester: 8, Status: Mandatory, ECTS: 6

Understanding fundamental knowledge in the field of ethics and its application in the financial sector, especially in banking, investment, accounting, bookkeeping, and audit tasks. Familiarity with trends regarding the understanding and treatment of ethical issues in finance in the most developed market economies and transitional countries. Understanding models of ethical behavior in financial organizations and methods of adoption and implementation in the practice of professional conduct standards.

Semester: 8, Status: Elective, ECTS: 14

Semester: 8, Status: Elective, ECTS: 7

Introduction to the importance of strategic management as a contemporary integrative management discipline. Overview of the content and forms of strategic direction of companies in modern turbulent environments (vision, mission, and strategic goals). Familiarization with the basic components of the external and internal strategic environment of the company and the most important methods and techniques for their analysis. Development of the ability to recognize basic strategic situations that managers face in companies in developed market economies. Preparation of future managers to work in a complex and dynamic environment.

Semester: 8, Status: Elective, ECTS: 7

The aim of the course is for students to become acquainted with the regulatory framework of corporate governance in Serbia and internationally recognized principles, standards, and practices of corporate governance. It enables students to analyze the legal and regulatory framework and the specificities of corporate governance in Serbia. The course develops awareness of good corporate governance, recognizing the importance of good corporate governance practices for companies and the economy as a whole.

Semester: 8, Status: Elective, ECTS: 7

Introduction to financial and strategic restructuring of a corporation and understanding the consequences of this complex process on its functioning. Understanding the impact of corporate restructuring on its most important stakeholders: shareholders, creditors, investors, employees, clients, suppliers, the state, and the local community. Understanding and identifying potential sources and mechanisms for creating new value for the owners of the corporation through the restructuring process (changes in technological development, changes in legal regulations related to business conditions, changes in the competitive environment, changes in the monetary sphere, etc.).

Semester: 8, Status: Mandatory, ECTS: 7

The main objective of the course is to familiarize students with the techniques and methods of external audit of the financial statements of companies. One of the goals of this course is for students to understand the connection between auditing and Financial Accounting, Financial Reporting, and other financial accounting disciplines studied at the faculty. Another aim of this course is for students to master the sampling principles used in external and internal auditing and the assessment of the truth and reliability of the financial statements of companies.

Semester: 8, Status: Mandatory, ECTS: 3

Introduction of students to the organizational structure and working process in financial organizations (banks, insurance companies, investment funds, pension funds) and companies. Involvement of students in professional teams working on specific tasks relevant to the implementation of professional practice. Understanding the technology of work and business operations. Understanding the specifics of the operation of a specific organization. Acquiring practical knowledge in the field of business finance, banking management, operational management, human resources management, IT management, and marketing.