The goal of the subject is to show the way in which our national economy functions. It is necessary for the students to understand the trends of certain macroeconomics variables: inflation, unemployment; macroeconomics models (fiscal policy, investments, monetary policy, IS-LM model, model of open economy).

Reference books:

1. dr Miroljub Labus:"Osnovi ekonomije", Beograd, 1991.
2. dr Mate Babic:"Makroekonomija", Zagreb, 1998.
3. dr Veselin Vukotic:" Makroekonomski racuni i modeli", CID, Podgorica, 2000.
4. Gregory Mankiw:"Macroeconomics", IV izdanje, 1999.

Introduction of a new basis of institutional economics and understanding how important is the impact of institutions on economic behaviour. New Institutional Economy (NIE): history, politics and development, NIE and transition in Eastern European countries.

Reference books:

1. dr Steve Pejovich:"Economic Analysis of Institutions and System"
2. John Harriss:"The New Institutional Economics and Third World Development" London, 1995.
3. dr Aleksandra Jovanovic:"Uvod u ekonomsku analizu prava", Beograd, 1998.
4. dr Veselin Vukotic:"Elementi za shvatanje neoinstitucionalne ekonomije", predavanje na postdiplomskim studijama u Sarajevu, 1998.
5. Richard Couse:"The problem of Social Cost", Jurnal of Law and Economics", Vol.3,1993.

This course deals with the theory of public choice – making a frame for analysing the problem of public choice. Thematically, it is related to property rights and it externalises, questions like: public goods, local public goods and fiscal federalism, voting mechanism etc.

Reference books:

1. James Bukenen:" Theory of public choice"
2. Dragan Lakicevic:"Teorija javnog izbora", u pripremi

The aim of this subject is to emphasise the principle of organisation of the banks and banking activities, management of the banks, new role of commercial banks, relations between banks and companies, legal aspect of bank activities, and bank activities themselves. Evaluation of investment projects, relations between business banks and the Central bank, banks and financial markets, and institutions of financial market.

Reference books:

1. dr Ivan Ribnikar:"Bankarstvo", Ljubljana, 1994.
2. dr Mladjen Sljivancanin:"Banka finansijsko preduzece", Podgorica, 1999.
3. Steve Hanke, Zeljko Bogetic:"Crnogorska marka", Podgorica, 1999.

Understanding of entrepreneurship; organisation forms of entrepreneurship, corporation, business plan, entrepreneurial finances; lifetime circle of the entrepreneurial idea; the importance of innovation; the way in which entrepreneurial ideas are developed; institutions and mechanisms of entrepreneurship development, privatisation, restructuring of companies and internal entrepreneurship. Financial restructuring of companies.

Reference books:

1. Piter Draker: Inovacije i preduzetnistvo, 1985.
2. Dr Veselin Vukotic: Preduzetnistvo i biznis, Ekonomski fakultet, 1996.
3. Dr Veselin Vukotic: Privatizacija, Beograd, 1993.
4. Dr Veselin Vukotic: Biznis plan, Novi Sad, 1995.
5. Dr Dejan Eric: Finansijsko restrukturiranje preduzeca, Beograd, 1995.
6. Dr Mirko Vasiljevic: Trgovacko pravo, Beograd, 1993.
7. Dr Miroslav Glas: Unutrasnje preduzetnistvo, JUGEA, Bled, 1990.
8. Lee Jacoca: Autobiografija, "Naprijed", Zagreb, 1989.

The aim of the subject is to provide students with knowledge in the area of international business and to expand their business horizons to a global perspective. The following issues will be addressed: global competition, management in international environment, multi-national companies and technology transfer, balance of payment, long-term investments and financial risks, international financial institutions, the basis of international law. Problem of standardisation. International financial markets.

Reference books:

1. D. Salvatore, International Economics, Prentice Hall (Parts III and IV);
   last edition
2. Ch Kindleberger, A Financial History of Western Europe, Oxford University
   Press; 1993
3. E. Pentecost, Exchange Rate Dynamics, E.Elgar, 1993
4. IMF Institute, Approaches to Exchange Rate Policy, IMF, 1994
5. S. Edwards, "The determinants of choice between fixed and flexible
   exchange-rate regimes, NBER WP 5756, Sept. 1996
6. F. Caramazza, J. Aziz, "Fixed or Flexible?", IMF, Economic Issues, April
   1998.
7. B. Eichengreen et al., "Liberalizing Capital Movements", IMF, Economic
   Issues, 17, February 1999.
8. P. de Grauwe, "The economics of convergence: towards monetary union in
   Europe", Weltwirtschaftliches Archiv, 1996.

In situation where we can not directly compare our practice with the practice of the developed markets of Western Europe, USA and Japan, strategy is the only logical solution. Initiating development of market practice is the most rational and the cheapest approach. Overcoming existing marketing inferiority requires foundation of constructive and partner co-operation with developed market economies. Therefore different solution have been offered for overcoming the problems that businessmen have in international business.

Reference books:

1. Dr Branko Rakita: Medjunarodni marketing, Beograd, 1998.
2. Dr Predrag Jovanovic Gavrilovic: Poslovne finansije, Beograd, 1993.

This subject is important for understanding marketing philosophy of financial experts. Special emphasis is put on investment decision making; stages in product development and marketing of banks. The subject is practical.

Reference books:

1. agreed upon with professor from abroad
2. F.Kotler: Marketing (odabrani djelovi)
3. Dr Bozo Mihailovic: Marketing i investiciono odlucivanje, Beograd 1990.
4. dr Bozo Mihailovic: Marketing, Knizevne novine, Beograd, 1998

Reference books:

1. Brealy Richard, A. Mayers, Stewart C.:» Principles of Corporate Finance», Mc Graw Hill, 1988.

The aim of this course is to help students master the skills of using mathematical methods in economics and quantitative methods in social sciences. The course includes:

Reference books:

1. Foreign books.

The main aim is expected utility theory; extensive and normal form games; solution concept including dominant strategy; Hash, perfect and proper equilibrium; Repeated games, Games with communication; Bayesian games, bargain: co-operative game theory and core; The Shapley value; Social choice; Groves mechanism.

Reference books:

This course introduces stochastic methods that are used in the modern theory of finance. They include results of the theory of probability, micro economic theory, stochastic calculus; the portfolio selection problem; inter-temporal capital asset pricing models, option pricing; risk analysis; and term structure of interest rates.

Reference books:

This course provides the basic concepts and computations of contemporary econometric methodologies needed to derive a sound econometric model. The methodologies described will include general–to–specific modelling; non – stationary; co-integration and vector auto-regression modelling. Basic issues in estimating models with the regional assumptions and Kalman filter approach.

Reference books:

1. Foreign books