Undergraduate academic studies in Economics and business management
Structure of the curriculum
Undergraduate study programme in Economics and business management lasts four years (8 semesters), and cosists of 240ECTS in the field of humanities, resulting in a Bachelor of Economics degree.
The objective of the study program is the education and training of experts for jobs that require basic knowledge in the field of economics. The outcome of the learning process is in accordance with the law that establishes the national qualification framework so that the graduate student possesses academic and professional knowledge related to theories, principles and processes including evaluation, critical understanding and application in the field of economics and business management. In this way, a graduated student will be able to solve complex problems in non-standard conditions, apply successful communication skills in interaction and cooperation with others from different social groups, as well as use equipment, instruments and devices that are relevant to the mentioned field.
There are seven modules within the study program: Economic Policy and Development; International Economy and Business; Finance, Banking and Insurance; Management; Marketing; Tourism and Hospitality and Accounting and Business Finance. The choice of modules is made after the first year of study.
The content of the study program, study rules, rights and obligations of students and other issues of importance for the implementation of the study program are printed every year as a separate publication, which is available to the public even in electronic form.
Enrollment of candidates is done on the basis of a competition announced by the University of Kragujevac and conducted by the Faculty of Economics.
The conditions for enrolling in the study program and other most important elements of the study program and the study regime are prescribed by the Statute, the Rulebook on the Faculty's study rules and the Rulebook on student enrollment in the study program of the University of Kragujevac. Also, the conditions for transferring from other study programs within the same or related fields of study are defined. Teaching methods depend on the type of teaching (1) active teaching, (2) independent work of students, (3) colloquiums, (4) exams, (5) study research work, (6) preparation of final thesis, etc.
Active teaching is realized through lectures, exercises, consultations, mentoring. It is realized through constant contact of students with teachers and associates. Lectures, exercises and consultations are held every week of the semester according to the schedule.
The study program defines a list of compulsory and optional courses with outline content. The final thesis and each courses are expressed through a point value that is in accordance with the European Credit Transfer System (ECTS). They are grouped into academic-general educational (AO), theoretical-methodological (TM), scientific-professional (NS) and professional-applicative (SA) courses. Exams and evaluation of students are carried out in the manner and according to the procedure established by the general act of the Faculty of Economics of the University of Kragujevac.
In the first year of study there are eight courses to be studied and all eight are compulsory. In the second year, there are eight s courses to be studied, five of which are compulsory, and three elective courses are chosen by the student from a basket of elective courses, the size of which depends on the module. In the third year, there are eight courses, six of which are compulsory, and two electives are chosen by the student from a basket of elective courses, the size of which depends on the module. In the fourth year, there are seven courses to be studied plus professional practice, five of which are compulsory, and two courses are chosen by the student from a basket of optional courses, the size of which depends on the module. In each semester, except for the last one, there are four teaching courses. The last semester consists of three courses, professional practice and final thesis.
The purpose of this study programme
The purpose of the Economics and Business Management study program, at the level of undergraduate academic studies, is to profile knowledge and competence in the domain of economic policy and development, international economy, marketing, management, tourism and hotel management, accounting and business finance, finance, banking and insurance. The emphasis is on combining and harmonizing macro and micro approaches, combining and harmonizing comparative, international, national, sectoral, branch and business approaches to the study of modern economic disciplines, topics and problems.
The Economics and Business Management study program follows dynamic changes in the environment, meeting the needs for new competencies, knowledge and skills required for economist graduates, in order to successfully perform work in companies, financial institutions, the public sector and other profit and non-profit organizations.
The program continuously monitors modern achievements in the field of quantitative and qualitative microeconomic and macroeconomic analysis. The modern teaching program provides the education of economists, experts in planning and analysis of complex economic systems, financial experts, experts in economic policy at the level of individual economic branches (industry, agriculture, finance, etc.), trains them for international finance, for consulting jobs, for work in both private companies and public companies, as well as for their own entrepreneurial ventures.
The purpose of the study program is to prepare students for complex economic practice according to internationally recognized standards, as well as for further education and professional development.
The study program is designed so that the student acquires complex knowledge from general to individual and specific within seven study modules: Economic Policy and Development, International Economy and Business, Finance, Banking and Insurance, Management, Marketing, Tourism and Hospitality and Accounting and Business Finance.
In addition to the creation of competent educational profiles, in accordance with the requirements of the labor market, the purpose of this study program is to prepare students for further training in master and doctoral academic studies in the field of economics and business management.
Within the Quality Assurance Strategy, the Faculty of Economics of the University of Kragujevac has defined basic tasks and objectives, with which the purpose of the Economics and Business Management study program is fully aligned.
Objectives of the this study programme
The objectives of the Economics and Business Management study program, at the level of undergraduate academic studies, are focused on the education of experts whose competencies will be general knowledge with a broad and versatile insight into practical tasks within the framework of economics and business management. The student should be able to recognize, formulate and analyze problems in the field of economics and business management, which means that the student must develop an analytical and creative approach to solving practical and theoretical problems. This general objective and orientation of the program are gradually and hierarchically realized depending on the elective module, cycle and level of education. On the other hand, the objective of the program is to provide students with the necessary competencies to perform economic and analytical work in companies, institutions, profit and non-profit organizations, both domestically and internationally.
The study program provides students with the acquisition of basic theoretical and practical knowledge in the areas of: economic analysis at the macroeconomic and microeconomic level of economic policy, economic theory (modern economic theories, methodological procedures of economic analysis), macroeconomics (macroeconomic aggregates, macroeconomic models, macroeconomic analysis, economic growth and development), microeconomics (functioning of labor, goods and capital markets, formation of prices in market structures, business behavior of companies, financial institutions, etc.), economic policy and economic system (institutions of market economy, instruments and methods for creating economic policy, the influence of various economic system mechanisms and institutions on economic development), acquiring knowledge and skills in the field of strategic management; acquisition of basic knowledge in the field of marketing as a market-oriented business philosophy (understanding of the concept and strategy of modern research, creation, planning, monitoring and control of market success based on the principle of the business philosophy of marketing); acquisition of basic knowledge in the field of management (understanding, analysis and solving current problems in managerial practice; application of various tools and techniques of effective management, understanding of concepts, techniques and tools used in planning, organizing, leading and controlling international business processes; understanding the impact of global, legal, sociocultural, ecological and ethical influences of the international environment on the company's operations); acquisition of theoretical and practical knowledge in the field of accounting and auditing (application of accounting and auditing methods, techniques and procedures in business practice; mastering the techniques of functioning of the accounting system, mastering accounting methods for the realization of business combinations, consolidation methods, analysis of financial reports, techniques, creation of a business plan , application of auditing methods and procedures for analyzing the functioning of the internal control system; expanding knowledge in the field of accounting systems of a specific nature such as accounting in trade, tourism, banking, insurance companies), acquiring knowledge in the field of tourism and hotel management.
By attending the study program, the student acquires knowledge and skills in the field of economics and business management, which should make him capable of working individually, as well as in a team, to solve specific problems in the aforementioned field. After the end of the first cycle, the student can decide to build a career through the acquisition of concrete business experience, as well as to continue his studies at master academic studies.
Within the Quality Assurance Strategy, the Faculty of Economics of the University of Kragujevac has defined basic tasks and objectives, with which the objectives of the Economics and Business Management study program are fully aligned.
Competencies acquired within this study programme
By completing the Economics and Business Management study program, the student acquires the following general abilities:
- ability to think logically, formulate assumptions, draw conclusions in a formal and formalized manner;
- ability to lead complex projects independently and with full responsibility;
- ability to communicate at a professional level, team work - organization, control and training others;
- ability for professional advancement and the manifestation of a positive attitude towards the importance of lifelong learning and personal and professional development;
- ability to follow and understand contemporary trends, both in the profession and in the social environment;
- ability to analyze and evaluate various concepts, models and principles of theory and practice, application of knowledge in practice and improvement of existing practice;
- ability of critical and self-critical thinking and approach;
- ability to present the results of this/her work;
- ability to solve problems even in non-standard conditions;
- ability to respect professional ethics.
Competences that the student acquires upon completion of the study program of undergraduate academic studies in Economics and Business Management refer to: the adoption of methodological, quantitative and qualitative scientific disciplines that provide insight into the real assumptions of economic development and economic-theoretical analysis; mastering the skills necessary to perform highly specialized, managerial and analytical tasks from a very broad area of macroeconomics, microeconomics and economic development; understanding the nature and characteristics of banking business and the ability to analyze and solve financial problems; the possibility of professional communication with the market and EU institutions, as well as with the immediate economic environment; solving complex problems of organization and management, using literature in accordance with the need to expand own knowledge; combining acquired theoretical and practical knowledge and skills in order to analyze and solve concrete economic problems; understanding relationships in the broader context of economic, environmental and ethical issues.
Students will also possess subject-specific, i.e., professional competencies that are specified in more detail in the description of the learning outcomes of the modules within the Economics and Business Management study program.
- The Economic Policy and Development module provides students with the acquisition of appropriate competencies in the field of economic analysis and policy, which enable them to be qualified for analytical work in companies and financial institutions, work in consulting firms, work on the formulation and management of projects in the state administration, work on the formulation of objectives and economic policies measures (at the local and national level), etc. Students who complete the Economic Policy and Development module will be able to work as an economist-analyst in public sector companies, work in forecasting macroeconomic trends, work in banks, insurance companies, state administration and local self-government bodies, associations, to do scientific research work activities, etc.
- The International Economy and Business module ensures the acquisition of knowledge in the field of international economic relations, foreign trade and international business. Students are trained to work in multinational companies, domestic business entities that do business with foreign parners, etc. Students who complete the International Economy and Business module are qualified to work as: economists in multinational companies, economists in domestic companies and companies engaged in foreign trade, professional associates in state administration and local self-government bodies, etc.
- The Finance, Banking and Insurance module ensures the acquisition of knowledge in the field of monetary system and monetary policy, banking business, organization and functioning of the financial market, stock exchange business, insurance and activities of institutional investors. Students are trained to work on commodity and financial exchanges, in banks and other financial organizations, brokerage and dealer houses, investment funds, insurance companies, state administration, tax administration, etc.
- Students of the Accounting and Business Finance module will be fully qualified to perform highly professional accounting, auditing, and financial management tasks in all economic sectors: financial sector (banks, insurance companies, investment and pension funds), profit sector (production, trade and service economic entities ), audit houses, public sector and others. Students who complete the Accounting and Business Finance module will be able to perform the following tasks; management of accounting activities in commercial and non-commercial organizations: internal audit work; external audits; state audits; making financial and investment decisions; investment advisor; portfolio manager; financial analysis; company valuations, etc.
- By completing of the Marketing module, students acquire basic knowledge in marketing, supported by complementary basic knowledge in economics, statistics, business, and management. In addition to general economic-financial, statistical-methodological and business management competencies, the student acquires the following abilities: the ability to organize, evaluate and use the results of market research, the ability to solve problems in the field of sales, procurement, distribution, product development, promotion, the ability to analyze situations and marketing planning. Students who complete the Marketing module will be qualified to perform the following jobs: marketing analyst and planner, sales manager, market representative, commercialist, product or brand development manager, market representative abroad, manager of promotional activities, etc.
- By completing of the Management module, students will be able to perform activities with quality in the areas of: strategic management, marketing, finance and accounting, production, human resource management, logistics, planning, trade, tourism, quality management, market research, as well as for creative use of modern information and communication technologies. Students who complete the Management module will be able to perform tasks: planning, organizing, controlling business processes, human resources management, quality management, financial management and international business management, in profit and non-profit organizations, state and international institutions, etc.
- The Tourism and Hotel Management module provides students with the knowledge and skills needed to perform management and analytical work in the field of business economics, with an emphasis on tourism and other complementary activities. Students who complete the Tourism and Hotel Management module are trained for analytical, managerial, research and practical jobs in companies or institutions that are directly or indirectly related to the field of tourism, but also in companies of other activities.
By completing the undergraduate academic studies, the student is issued a diploma confirming the completion of studies and the acquisition of the academic title of backelor of economics in accordance with the law.