FACULTY OF BUSINESS ECONOMICS AND ENTREPRENEURSHIP IN BELGRADE

THE BOOK OF COURSES

Study programBUSINESS ECONOMICS AND ENTREPRENEURSHIP

- DISTANCE LEARNING (120 ECTS)

Master academic studies

Belgrade, 2016

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: THEORY AND PLANNING OF ECONOMIC DEVELOPMENTTeacher: Course status: compulsory ECTS: 7Condition: Student enrolled in the 1st semester, attended all classes and successfully completed all pre-exam assignments Course objective: Acquainting students with the development management of one contemporary and market oriented economy, through an analysis of the practice in the Republic of SerbiaCourse outcome: After passing the exam, students have acquired theoretical and practical knowledge, which enables them to actively and professionally participate in the economic development of the Republic of Serbia.Course content: Lectures: Definition, significance, determinants, objectives and indicators of the economic development. Factors of the economic development. Role of the State in forming and implementing adequate development strategy, with the Republic of Serbia taken as an example. Form and use of capital in the process of financing the development. Definition and division of capital. Rentability of capital use. Capital management in the market economy. Basic terms related to economic evaluation of capital. Financing economic development by using national savings. Forming national savings. Domestic, corporate and national savings. Interdependence of savings rate and dynamics of economic growth. Extern sources of financing economic development. Financing development by using foreign savings. Forms of engaging foreign savings. Foreign public capital as a financial development resource; External debt as a developmental barrier and ways of servicing debts.

Active learning classes. Further clarification of certain topics taught in lectures. Analysis and study-research work on the analysis of chosen cases from practice. Preparation of colloquia and exams. Evaluation of realized classes and the analysis of its results.

References:[1]. Kvrgic G., (2013), Theory and Planning of Economic Development, Faculty of Business Economics and

Entrepreneurship, Belgrade

Number of active teaching classes Lectures: 2 Active learning classes: 2Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments 40 points Final exam 60 pointsactive participation during lectures 10 Oral exam 60colloquium – first 15colloquium – second 15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: GROWTH AND DEVELOPMENT STRATEGIES OF ENTERPRISESTeacher:Course status: compulsoryECTS: 8Condition: Student enrolled in the 2nd semester, attended all classes and successfully completed all pre-exam assignmentsCourse objectives:Acquiring knowledge and developing capabilities to create and implement sustainable development strategy in a contemporary and turbulent market environment through acquaintance with tools and techniques used in contemporary strategic management.Course outcomes:After passing the exam, students have acquired knowledge and skills necessary for environment analysis, for making and implementing strategic decisions. They are trained to detect problems and chances present in an enterprise environment, to solve them adequately through a process of strategic management and to: create missions, visions, objectives and sustainable strategy of enterprises, define a plan and the way of implementing the chosen strategy, make choices among various alternative strategies, implement the chosen strategy and to plan, implement, control and evaluate the strategy. Course contentLectures. Development policies and enterprise strategy. Basic terms in strategic management. Basic characteristics of the global market and key forces which affect it. Significance and role of strategic management in contemporary and dynamic market operations of an enterprise. Defining phases in the process of strategic management. Group decision-making and role of enterprise authorities in conducting the strategy. Division and analysis of enterprise environment. The process of detecting chances and threats found in an enterprise environment. Analysis of possibilities and shortcomings of an enterprise. Modern tools and techniques used in strategic management. Defining various strategy types. Decision making and criteria used in choosing a strategy. Choice of enterprise performance indicators and the way of assessing them. Strategy control and evaluation.

Active learning classes. Classes are realized through an interactive work with students, where they can analyze case studies as well as current occurrences in strategic management and study-research work, team work on the analysis of chosen cases. Students are motivated to give their own examples about certain situations and to state situations and problems which can be found in strategic management. Preparation of colloquia and exams. Evaluation of realized classes and the analysis of its results. References[1]. Milosevic D., (2012), Growth and Development Strategy of Enterprises, Faculty of Business Economics and

Entrepreneurship, Belgrade.[2]. Coulter M., (2009), Strategic management in action, Data Status, Belgrade[3]. Dess G., Lumpkin G., Eisner A., (2007), Strategic management – theory and cases, Data Status, Belgrade

Number of active teaching classes Lectures: 3 Active learning classes: 3Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments 40 points Final exam 60 points

active presence during lectures 10 oral exam 60colloquium – first 15colloquium - second 15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: PROJECT MANAGEMENTTeacher:Course status: CompulsoryECTS: 8Condition: Student enrolled in the 1st semester, attended all classes and successfully completed all pre-exam assignmentsCourse objective Acquainting students with principles, functions, organization, planning, activities, budget, implementation and control of managing different types of projects and acquiring knowledge and skills necessary for defining project objectives and strategies so as to enable adequate support for their realization and sustainability and to affect the process of solving defined problems in the long run, mastering methods and techniques, as well as EU project methodologies and their application.Course outcomesAfter passing the exam, students have acquired theoretical and practical knowledge and skills necessary to define, craft, make partnership, application, implementation and project sustainability; for strategic thinking, team and research work and a successful application of theoretical and practical knowledge in this area.

Course contentLecturesIntroduction, definition, project types and defining projects; Project management functions (Establishing objectives, Planning, Organization, Control); Functional concept of project management; Management program; Project management organization; Managing human resources; Contact management; Project quality management: Process, Quality assurance system; Managing project risks, Risk assessment method; Managing project communications; Planning project realization; Monitoring and control of resources and costs, Operational planning system and monitoring project realization; Project realization reporting system; Project cycle; Methods and techniques of project management; structural diagrams, network planning, priority method, established value method, key events method, methods: PBS, WBC, OBS, standard computer programs for project management, Primavera Project Planner, Microsoft Project, managing more projects, portfolio and program management; Resource optimization; Cost assessment methods, Results simulation and closing projects; Specialized management areas in project management, New tendencies in the development of the management program; project management; Project oriented organization, Multi-project management; Virtual project management, Contingent approach to project management – Project Expeditor, project coordinator, matrix form, project form, Characteristics of project manager profession, GlossaryActive learning classes: (acquainting students with project documentation and call, applications, methods and techniques), study research work, team work on the analysis of chosen cases – project proposals, (EU projects from the structural EU funds, cross-border projects, regional projects, infrastructural projects) acquiring skills: analysis of problems for project ideas, applications, presentations, partnerships, managing time, activities, costs and team and group work. References [1]. Milosevic D., Tomic A., (2010), Project management – modern approach, Faculty of Business Economics and Entrepreneurship, Belgrade[2]. Jovanovic P., (2004), Project Management, Grafoslog, BelgradeNumber of active teaching classes Lectures: 3 Active learning classes: 3Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments 40 points Final exam 60 pointsactive involvement in classes 10 oral exam 60

colloquium – first 15colloquium – second 15Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: EU LAWTeacher:Course status: compulsoryECTS: 7Condition: Student enrolled in the 1st semester, attended all classes and successfully completed pre-exam assignmentsCourse objective: Mastering basics of the historical concept and occurrence of the European Union, through a historic genesis ofthe European Union until today, whereby special attention is paid to learning about the system and inter-functional connection of EU institutions, in the aim of acquiring new knowledge necessary in the process of harmonization and joining EU. Course outcomes: Upon passing the exam, students acquire basic knowledge which enables them to conduct jobs that have international character as well as active participation in the process of harmonization and joining EU.Course contentLectures. Historical beginnings of the European Union. Contracts on the beginning and development of the European Community – European Union. Regulations and legal sources of EU, with a special reference to the Maastricht Treaty. Learning about EU institutions in accordance with the Lisbon Treaty, with a special reference to the specificity of inter-functional connection of these institutions. Legal subjectivity and its effect as well as defining legal problems of EU.Active learning classes. Acquainting students with secondary EU legal sources, especially with regulations, absorption capacity, extension perspective, i.e. reorganization of the Union itself. Pointing out to practical problems in functioning of EU institutions, and problems which the Union is today faced with. Preparation of colloquia and exams. Evaluation of realized classes and the analysis of its results.Reference:[1].Radulovic Z., and Radulovic M., (2011), EU Law, Faculty of Business Economics and Entrepreneurship,

Belgrade

Number of active teaching classes Lectures: 2 Active learning classes: 2

Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments 40 points Final exam 60 pointsactive involvement in classes 10 oral exam 60colloquium – first 15colloquium - second 15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: ORGANIZATIONAL DESIGNTeacher:Course status: CompulsoryECTS: 8Condition: Student enrolled in the 1st semester, attended all classes and completed pre-exam assignmentsCourse objectiveAcquiring knowledge in how all organizational elements are designed and in accordance with the given environmental conditions.Course outcomeUpon passing the exam, students have acquired theoretical and practical knowledge and skills and they have been trained to design complete organizations, as well as to harmonize all elements with relevant environmental changes. Course contentLecturesDefinition of an organization. Theoretical basics of an organization. Organizational design. Mechanical and organic design. Internal factors of an organizational structure. External organizational factors. Term – organizational culture. Dimensions of an organizational culture. Organizational culture and performances of an organization. Managing organizational culture. Definition of an organizational structure. Elements of organizational structure. Mechanical and organic structures. Choice of organizational structure. Work division. Delegation of authorities. Job groupings – departmentalization, Coordination. Classic typology of an organizational structure. Hybrid models of an organizational structure. Contemporary tendencies in theory and practice. Term and types of organizational learning. Basic characteristics and elements of an organization that learns. Organizational design of an organization that learns. Classification of organizational changes theories. Models of managing changes. Implementation of changes.Active learning classes:Further analysis of certain topics taught in lectures. Study-research work within organizational models and design of organizational structures in various conditions. Preparation of colloquia and exam. Evaluation of realized classes and the analysis of its results.Reference[1]. Stankovic R., Radic V., (2013), Organizational design, Faculty of Business Economics and

Entrepreneurship, BelgradeNumber of active teaching classes Lectures: 3 Active learning classes: 3Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments points Final exam pointsactive involvement in classes 10 Oral exam 60colloquium – first 15colloquium - second 15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studies Course name: STRATEGIC MARKETINGTeacher:Course status: compulsoryECTS: 7Condition: Student enrolled in the 2nd semester, attended all classes and successfully completed all pre-exam assignments

Corse objective: Acquainting students with principles, functions, organization, planning, implementation and control of modern strategic marketing through acquisition of knowledge and skills necessary for defining marketing goals and strategies in order to enable better market position and competitiveness in the long run, mastering methods and techniques used in strategic marketing and their application; sketching the process necessary for the formulation of marketing strategies and plans and describing strategic decisions.Course outcome: After passing the exam, students have acquired knowledge, capabilities and skills necessary for creation and maintenance of successful marketing strategies, for strategic thinking, team and research work and the application of theoretical and practical knowledge from this area.

Course content:Lectures. Introduction, Strategic marketing of the 21st century, changes in competitive arena and strategies of competitive positioning, functions of strategic marketing: strategic marketing planning, creation of competitive strategic position, implementation, competitive analyses and market research in a changeable environment, development of marketing resources, capabilities; forecasting of future demand and market requirements, establishing current and future competitive position: principles and research of segmentation and positioning, models: five strengths of industrial competitiveness, product’s life cycle, strategic groups, SPACE analysis, advantage matrix, portfolio of analysis and planning, BCG matrix, multi-factorial approach to modeling, analysis of consumers, competitive benchmarking, selection of market goals, strategies of competitive positioning: use of organizational resources for the creation of competitive advantage, leadership in costs, differentiation, focus strategy, offensive and defensive strategies, competitiveness through extended marketing mix, new business models: internal marketing focus, inter-functional partnership, competitive advantage through corporate social businesses.

Active learning classes. Study-research work, team work on the analysis of chosen case studies (Yahoo and eBay, Xerox, Gillette, Boeing, Ballantyne, British Airways, Nokia), gaining skills: analysis, solving strategic problems, presenting strategies, management of time and work in a team and strategic groups. Reference:[1]. Avakumovic C., Avakumovic J. (2014), Strategic marketing, Faculty of Business Economics and Entrepreneurship, Belgrade[2]. Filipovic V., Kostic Stankovic M. (2012), Marketing Management , Faculty of Organizational Sciences, Belgrade[3].Rakita B., (2009),International Marketing, CID of the Faculty of Economy in BelgradeNumber of active teaching classes Lectures: 2 Active learning classes: 2Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments 40 points Final exam 60 points

active involvement in classes 10 oral exam 60colloquium – first 15colloquium - second 15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: FINANCIAL INSTITUTIONSTeacher:Course status: CompulsoryECTS: 8Condition: Student enrolled in the 2nd semester, attended all classes and successfully completed all pre-exam assignmentsCourse objectives:Acquisition of basic knowledge about financial institutions (banks, savings banks and credit cooperatives, insurance companies, pension funds, financial companies, investment banks, investment funds, brokerage firms) and acquisition of additional knowledge related to new trends in the industrial development of financial institutions in world and in our country, as well as to measuring models and managing credit and market risks (managing interest rate risks, exchange course of liquidity as well as operational and other non-financial risks).Course outcome:After passing the exam, students acquire theoretical and practical knowledge and skills which enable them to perform different bank jobs, in the domain of commercial investment banking; in non-banking financial institutions which manage different risks they are exposed to in the market; in institutions responsible for creating regulations and supervision of banks and in institutions responsible for surveillance over non-banking financial institutions which conduct business in the capital market. Course content:Lectures:Review of the financial system; Central bank and managing monetary politics (structure of the central bank, measurements, instruments and objectives); Industry of financial institutions (structure, banks, savings banks, credit cooperatives, insurance companies, pension funds, financial companies, investment banks, investment funds, brokerage firms); Managing financial institutions (interest rate risks, market risk, credit risk, exchange rate risk, operational risks, liquidity risk, asset and liability management, capital adequacy, hedging of financial derivatives, securitization).

Active learning classes:Further analysis of certain topics taught in lectures. Study-research work, review, analysis and discussion about examples from practice. Preparation of colloquia and exam. Evaluation of realized classes and the analysis of its results.Reference:[1]. Mishkin, F, S. Eakins, (2005), Financial markets and institutions, Mate, Zagreb.[2]. Saunders A, M. M. Cornett, (2013), Financial institutions management: A Risk Management Approach,

McGraw-Hill/Irwin. [3]. Rose, P., S. Hudgins, (2012), Bank Management and Financial Services, McGraw-Hill/Irwin.

Number of active teaching classes Lectures: 3 Active learning classes: 3Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments 40 points Final exam 60 pointsactive involvement in classes 10 oral exam 60colloquium – first 15colloquium - second 15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: INNOVATION MANAGEMENTTeacher:Course status: OptionalECTS: 7Condition: Course was elected by a student; student enrolled in the 2nd semester, pre-exam activities completedCourse objective:Acquainting students with the significance of innovations in general and gathering knowledge necessary for a successful management of innovations by business entities, in economies based on technological progress, with a special reference to EU innovative activities. Course outcome:After passing the exam, a student has the knowledge about the significance of innovations, key innovation concepts as well as the institutional framework in which they are being realized; student understands innovational process and the process of managing innovation realization and students can demonstrate their capability to manage innovations on the example of product innovation in a business entity and carrying out legal protection of innovation.Course contentLecturesDefining innovations; Innovations and technological progress; Innovations and competitiveness, Technological innovations (concept of a new product and new process); Innovational process (creation of ideas, invention realization, diffusion of innovations); Managing innovations and changes (conditions for successful innovating, standard procedures of management, integrated methods of management, creating managing capabilities, technological trajectories); Management of technological development; Management of ICT innovations; Measuring innovations (object and subject approach); Innovations and protection of intellectual property; Institutional support for innovations (institutional framework, institutions, financing); Innovation management in EU.Active learning classesFurther analysis of certain topics taught in lectures. Presentation and review of practical examples of successfully managed innovations, especially EU innovations. Preparations for colloquia and exam. Evaluation of realized classes and the analysis of its results.References[1]. Krstic M., (2013), Innovation Management, Faculty of Business Economics and Entrepreneurship, Belgrade.[2]. Krstic M., Skorup A., (2011), Theory of Innovations, Publishing Center for Industrial Management, KrusevacNumber of active teaching classes Lectures: 2 Active learning classes: 2Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments 40 points Final exam 60 pointsactive involvement in classes 10 oral exam 60first colloquium 15second colloquium 15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: CONTEMPORARY ECONOMIC SYSTEMSTeacher:Course status: OptionalECTS: 7Condition: Student enrolled in the 2nd semester, chose the course, attended all classes and successfully completed all pre-exam assignmentsCourse objective: Acquainting students with the effects of different economic-systemic mechanisms and instruments in the development of market economies and developing countries with a special reference to studying: lack of markets and country’s role, concept of competitiveness of national economies, and consideration of comparative analysis of the successfulness of modern economic systems as well as the possibility of affirmation of market economy in Serbia.Course outcome: After passing the exam, student is capable of different macro-economic analyses and making of conclusions about the effect of globalization process and the necessity of international coordination in the creation of economic systems, as well as of comparative analysis and evaluation of economic systems’ successfulness. Course content:Lectures. Economic Systems (ES) and comparative analysis. Concept and subject of comparative analysis of contemporary ES. Principle definition of ES. Grouping (typology) and evaluating a successful ES. Comparative analysis of the basic guidelines of ES. Economic policy (EP). Principle concept of EP. Objectives, types and instruments of EP. Economic system and policies. Market and State in a contemporary economy. Economic functions of the State. Principle specificities, areas and weaknesses of conducting economic functions in the State. Deficiencies of the market mechanism and role of the State. Monopolies and their regulation. External effects and State’s activity. Public goods and public spending. Relation between public and private sector. Production with drop-down expenses and increasing returns. Traditional and new macro-economic policy. Keynesian policies and restrictions. Results of economic policies based on monetarism. Theory of rational expectations and economic policy. Theory of economic supply and results of economic programs. Mixed ES. Models of mixed ES in contemporary capitalism. ES of developed countries: USA, Great Britain, Japan, Germany, France, Sweden. Economies in transition. Transition problems from centrally planned to market economy. Transformation of socialist economies. Elements of the transformational process. Institutional changes. Order of measures for the transition from planned to market economy. Transitional path of socialist countries. Transitional path of Serbia. Competitiveness of economy as an economic phenomenon. Different concepts of economic competitiveness. Porter’s original concept, methodological framework of the World Bank and World Economic Forum. Competitiveness of economies in the 21st century. The most and least competitive economies. Competitiveness of BRICS countries. Competitiveness of Serbia. Globalization as a dominant economic phenomenon. New economic order, regional integrations and the effect of globalization on economic systems. Active learning classes. Study-research work and case studies about specific economic systems; discussion about economic systems of certain countries and the following roundtable topics: comparison of developed countries and countries in expansion, of developed and transitional countries, of transitional and expanding countries, of countries first to come out of the transition process and the ones still in the process; effect of globalization on economic systems. References:[1]. Ivkovic D., Knezevic V., Karavidic S., (2014), Economic Systems – guidelines, characteristics, competitiveness, Faculty of Business Economics and Entrepreneurship, Belgrade [2]. Bajec J., Joksimovic J., (2010), Contemporary Economic Systems, Faculty of Economy, Belgrade[3]. Jergin D., Stanislav Dz, (2004), Commanding Heights, Narodna knjiga, Alpha, Belgrade Number of active teaching classes Lectures: 2 Active learning classes: 2Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments points Final exam pointsactive involvement in classes 10 oral exam 60first colloquium 15second colloquium 15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: FINANCIAL REPORTING AND MANAGEMENT CONTROL Teacher:Course status: CompulsoryECTS: 8Condition: Student enrolled in the appropriate semester, attended all classes and completed all pre-exam assignmentsCourse objective:To focus students on findings about key points of financial results of conducting business and control of fundamental business activities – to what extent goals and plans of an organization have been realized, how to use and save assets, whether information and financial reports are correct and in accordance with standards, laws and other regulations. Course outcome:After passing the exam, student is theoretically and practically enabled to manage business results within organizations, to identify measures and manage business risks; student has the ability to identify, measure, monitor and control and revise an economic society.Course contentLectures: Objectives of keeping financial records; users of information; International standards for keeping financial records; elements of financial record keeping; changes in the economy of an economic society; analysis of financial records; types of balance sheets; indicators of business successfulness; management control – function and process in contemporary management; development of management control; types and tasks of management control; management control in the function of managing capital; management control and risk management; internal control and internal revision; perspectives of management control and financial record keeping.

Active learning classes:Further analysis of some of the topics taught in lectures. Analysis of balance sheet, balance of success and indicators of liquidity of business results and the state of economic society’s assets. Study and research work. Preparing colloquia and exam. Evaluation of realized classes and the analysis of its results.References[1]. Karavidic S.,Ivkovic D., Vojteski-Klenjak D., (2013), Financial record keeping and management control,

Faculty of Business Economics and Entrepreneurship, BelgradeNumber of active teaching classes Lectures: 2 Active learning classes: 2Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments 40 points Final exam 60 pointsActive involvement in classes 10 Oral exam 60Colloquium – first 15Colloquium - second 15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Masteracademic studies, second level of studiesCourse name: PORTFOLIO MANAGEMENTTeacher:Course status: compulsoryECTS: 8Condition: Student enrolled in the appropriate semester, attended all classes and completed all pre-exam assignmentsCourse objective:Acquainting students with specificities of the portfolio analysis, acquisition of knowledge concerning characteristics and use of basic and derivative financial instruments and their use in financial enterprise management in a non-financial sector as well as acquisition of basic methods for evaluation of financial instruments, formulation and application of investment strategies.Course outcome:After passing the exam, students have theoretical and practical knowledge and skills which enable them for a profile of an investment analyst, and knowledge acquired in this course can represent a useful basis for further knowledge enhancement with the aim to gain certain international professional licenses: CFA, PRMIA, FRM etc.

Course content:Lectures:Environment of investing into securities; Macro and micro-structure of financial markets; Basic elements of portfolio theory; Typology and characteristics of investment strategies; Portfolio analysis and selection; Portfolio of securities; Assessing portfolio performances; Strategies for managing portfolio of bonds; Strategies for managing portfolio of shares; Futures and forwards: effect on portfolio performances; Optional strategies.

Active learning classes: Further analysis of certain topics taught in lectures. Numerical simulation of the model, study-research work by students and under teacher’s mentorship. Preparation for colloquia and exam. Evaluation of realized classes and the analysis of its results.References:[1]. Miletic S., (2012),Portfolio Management, Faculty of Business Economics and Entrepreneurship, Belgrade[2]. Z. Bodie, A. Kane, A.J.Marcus, (2009), Basics of investing, Data Status, Belgrade[3]. AmencN, V. Le Sourd, (2003), Portfolio Theory and Performance Analysis, Wiley Finance Series[4]. Relly, F., K. Brown, (2011), Investment Analysis And Portfolio Management, South-Western Cengage

LearningNumber of active teaching classes Lectures: 3 Active earning classes:3Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments 40 points Final exam 60 pointsActive involvement in classes 10 Oral exam 60Colloquium – first 15

15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: BUSINESS FINANCESTeacher:Course status: OptionalECTS: 7Condition: Student enrolled in the 2nd semester, chose the course, attended all classes and successfully completed all pre-exam assignmentsCourse objective: Students’ acquisition of theoretical and practical knowledge and skills in the area of business finances.

Course outcome:After passing the exam, student has theoretical, practical and applicative knowledge and skills necessary in the process of making financial decisions (analytical method of thinking) and student understands what effect those decisions have on creation of value, business results, growth and development of an organization.Course content:Lectures.Financial system and its structure, basic financial principles and rules, value of an economic society – companies, investment and financial decisions, creation of profit and value, managing financial risks and instruments used for managing financial risks, financial analysis and financial indicators.

Active learning classesCalculating key ratio indicators: liquidity ratio, total assets turnover, security ratio; business profit rate, Altman’s indicator of financial uncertainty (Z-score), flow statement of net current assets, cash flow statement, analysis of the break-even point, the expected twist on corporate bonds, the valuation of stocks, earnings sensitivity analysis due to changes in interest rates. Preparing tests and exams. Evaluation of realized classes and the analysis of its results.References:[1]. Karavidic S., Brzakovic T., Ivkovic D.,(2014), Business Finances, Faculty of Business Economics and

Entrepreneurship, Belgrade.Number of active teaching classes Other classesNumber of active teaching classes Lectures: 2 Active learning classes: 2Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (number of points 100)Pre-exam assignments 40 points Final exam 60 pointsactive involvement in classes 10 Oral exam 60colloquium – first 15colloquium - second 15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: NATIONAL ECONOMYTeacher:Course status: OptionalECTS: 7Condition: Course must be chosen by students; Completed pre-exam activities, Enrolled in semesterCourse objectivesThe objective is that students master relevant knowledge which refers to national economy, through observing basic conditions, limitations and problems in functioning of a country’s economy, as well as the possibility of improving its economic relations with the outside world.Course outcomeAfter passing the exam, student has acquired knowledge about the most significant potentials for the development of the Republic of Serbia which serve as relevant factors of economic development; student understands the mechanism of economic management through economic policies and students can demonstrate their competences on the example of identifying current economic system’s problems and the need for its improvement. Course contentLecturesPotentials for the development of the Republic of Serbia (RS). Population as a factor of economic development. Natural conditions and resources. Capital as a factor of economic development. Market and private property as main developmental support for the economy of the RS and the transition problem. Economy of the RS as a part of world economy. Economic policy as a reflection of macro-economic economic management. Economic development and human welfare. Unresolved economic problems of the Republic of Serbia and the possibility of solving them. Technical progress and economic development of the RS. Development of the most significant economic areas in the RS. Strategic approach to economic development of the RS. Active learning classesFurther clarification of certain topics taught in lectures and discussion with students by using a “roundtable” principle, especially about teaching units that deal with the most significant unresolved economic problems and with the possibility of solving them. Preparing colloquia and exams. Evaluation of realized classes and the analysis of its results.References[1]. S. Devetakovic, B. Jovanovic-Gavrilovic, G. Rikalovic, (2007),National Economy, Faculty of Economy,

Belgrade.Number of active teaching classes Lectures: 2 Active learning classes: 2Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments points Final exam pointsactive involvement in classes 10 Oral exam 60first colloquium 15second colloquium 15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: CORPORATE GOVERNANCETeacher:Course status: OptionalECTS: 7Condition: Student enrolled in the 3rd semester, chose the course, attended all classes and successfully completed all pre-exam assignmentsCourse objective: Acquainting students with the process which directs corporate and holding systems towards a better and sustainable growth and development, through a well-defined corporate management system which represents a precondition without which there cannot be an effective and efficient business.Course outcome: After passing the exam, student acquires theoretical and practical knowledge, which enable future economists-managers to efficiently manage large business systems. Course content:Lectures: Introduction to Corporate Governance (CG); Historical development of CG; enterprise theories in CG; CG definition; Term and significance of CG; Problem, objectives and basic hypotheses of research; Area of research and expected effects; Research methodology; Models of managing corporations; Models of CG in comparative law; Unicameral or single CG model; Bicameral or two-tier CG model; Japanese unicameral CG model; mixed CG model; Convergence or harmonization of different CG models; OECD principles and guidelines of CG; Reasons for adoption of OECD principles of CG and the ways of their occurrence, Analysis of OECD principles of CG; 1st principle – Ensuring the basis for an effective CG framework; 2 nd principle – The rights of shareholders and key ownership functions; 3rd principle – Equitable treatment of shareholders; 4th

principle – The role of interested parties in CG; 5 th principle – Disclosure and transparency of documents; 6 th

principle – The responsibility of the board; OECD guidelines for CG of enterprises in state ownership; Ownership role of the State; Unbiased treatment of shareholders; Relations with stakeholders; Transparency and disclosure; The responsibility of the board of state enterprises; Comparison of best CG practices in different states; Current trends in CG of the United Kingdom, Germany, Italy, France; Comparative overview of CG in EU and USA; management under the conditions of globalization; Basic mechanisms for achieving a good-quality CG; Guidelines for achieving a good-quality CG; Quality and evaluation of quality in CG; Role of international organizations and financial institutions in reform and implementation of a contemporary CG; types of procedures for dispute-solving in CG; types of disputes related to CG and conflict management; Role of experts in dispute-solving inside the board; Alternative dispute-solving technique in the board’s meetings; CG in the countries in transition; CG in Serbia. Active learning classes: Case studies of CG models (unicameral, bicameral, Japanese, mixed); Analysis and discussion about the characteristics of CG in certain countries; CG principles for corporations and public sector); roundtable concerning comparison of CG models; roundtable concerning the efficiency of Serbia’s public sector. Preparing colloquia and exams. Evaluation of realized classes and the analysis of its results.References:[1]. Ivkovic D., (2011), Corporate Governance, Faculty of Business Economics and Entrepreneurship, Belgrade [2]. S.C. Myers, A.J. Marcus, (2007),Fundamentals of Corporate Finances, Mate, Zagreb[3]. Gogan P., (2004), Integrations, acquisitions and restructuring of corporations, Prometej, Novi SadNumber of active teaching classes Lectures: 2 Active learning classes: 2Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments 40 points Final exam 60 pointsactive involvement in classes 10 Oral exam 60colloquium – first 15colloquium - second 15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: MANAGEMENT ACCOUNTING Teacher:Course status:optionalECTS: 7Condition: Course chosen by a student, student attended all classes and completed all pre-exam assignmentsCourse objective: Students acquire theoretical and practical knowledge and skills in management accounting, through understanding of the significance of management accounting for the process of business decision-making; acquainting students with the most significant areas of its application, as well as with instruments and tools which are available for conducting different economic-financial analyses.Course outcome:After passing the exam, student is capable of: understanding basic categories of management accounting , especially costs and their significance in traditional and strategic context of conducting business; applying instruments and tools of management accounting for the sake of making short-terms and long-terms (investment) decisions in terms of certainty, as well as in terms of risk and uncertainty; demonstrating competences on the example of evaluating and controlling organization’s performances, based on budget, as well as preparation of reports on financial businesses of business segments.Course content:Lectures:Introduction and basic concepts. Accounting systems and cost management (traditional and strategic approaches). Accounting decision-making (CVP analysis, concept of relevant costs and incomes, making decisions about selling prices, decision-making in terms of risk and uncertainty, decision-making about capital investments). Accounting responsibilities (budgeting process, preparation of main or master budget, budget-based control, enterprise segments’ performance assessment, integrated performance measures, transfer prices).Active learning classes:Further clarification of certain topics taught in lectures. Overview and application of tools and techniques of management accounting for solving problems from practice and assignments from school books. Preparing colloquia and exams. Evaluation of realized classes and the analysis of its results.

References:[1]. Sljivic S., Vojteski-KljenakD., Pavlovic M., (2014), Management Accounting, Faculty of Business

Economics and Entrepreneurship, Belgrade (in preparation)[2]. Dejan Malinic, Vlade Miicevic, Nikola Stevanovic. (2012), Management Accounting, Faculty of Economy,

BelgradeNumber of active teaching classes Lectures: 2 Active learning classes: 2Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments 40 points Final exam 60 pointsactive involvement in classes 10 Oral exam 60colloquium – first 15colloquium - second 15

Study program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesCourse name: METHODOLOGY OF SCIENTIFIC RESEARCHTeacher:Course status: compulsoryECTS: 15Condition: Knowing basic economic categories and methods of micro and macro economy as well as knowledge of statistics and mathematics, on the level of basic academic studies,

Course objective:Acquainting students with the problematic of contemporary science methodology in general, as well as with specificities of scientific research methods in the economy. Objective is to introduce students to the theory of scientific knowledge, logical forms of scientific thinking and scientific research theory. Course outcome:After passing the exam, student is enabled for scientific-research work: to independently define procedures of specific research based on which the student will make a project for scientific-research work; to conduct research; to independently apply descriptive statistics and statistics of making conclusions; to come up with appropriate conclusions and write down a research report.Course contentLectures. Basics ofscience and scientific theory. Economic science. Types of scientific research. Methodology and method definitions. Types of research drafts. Stages of scientific research. Methods and techniques for gathering data. Statistics in scientific-research work. Research sample. Scientific, professional and academic papers.

Active learning classes: Study-research work – formulation of problems related to research. Gathering relevant information. Application of adequate research method. Analysis and synthesis of relevant data. Review of solutions for checking. Concluding remarks.References[1]. Cukanovic-Karavidic M., Karavidic S.(2013), Methodology of Scientific Research, Faculty of Business Economics and Entrepreneurship, Belgrade

Number of active teaching classes Study-research work: 20Teaching methods:The classes are conducted with the help of specialized Distance Learning Management System. Lectures and exercises are realized in asynchronous mode, as a combination of tools available on platform, such as lesson, tasks, files, wiki, links, etc., according to a predetermined timing by the teacher. Consultations between teachers or assistants and students take place in synchronous or asynchronous mode, depending on the chosen form of communication available within the platform, such as messages, mail, forum, etc.

Final grade (maximum number of points 100)Pre-exam assignments points Final exam Pointsactive involvement in classes 10 Oral exam 60students’ independent work 30

Final paper specificationsStudy program: Business Economics and Entrepreneurship – distance learning (120 ECTS)Type and level of studies: Master academic studies, second level of studiesECTS: 15Condition: Student passed all study program examsFinal paper objectives: Final paper is a result of independent research work of students on master academic studies, whichis there to systemize the existing scientific knowledge. By writing final paper, students:

Prove they acquired knowledge and competences necessary for independent work in certain scientific or professional areas of courses studied within the study program framework.

Are acquainted with a specific area of scientific or professional discipline through a detailed analysis of one topic from that area;

are prepared for an independent research and practical work in certain areas, etc.Expected outcomes: Final paper should prove that student have competences and that they achieved learning outcomes while solving problems from scientific and professional areas which were a part of the study program content and that they are capable of using theoretical and practical knowledge acquired during their studies at the faculty.General content: Final paper represents students’ research work during which they are being acquainted with research methodology in the field of management, entrepreneurship, economics, finances, banking and insurance.Final (master) work contains: front page, content, introduction, main part, conclusion, references.Master thesis topic can be: Theoretical problems, applicative problem noticed in literature or practice, theoretical-applicative problem etc. Master thesis topic can be elaborated in two ways: students can gather, process, structure and present knowledge from books that is relevant for the topic of their work; students can apply knowledge gained from literature and show how a specific problem can be solved.Front page should contain basic data such as: in the header – name of the faculty, middle part – MASTER THESIS IN (COURSE NAME), title, name and booklet number of the candidate, name of the teacher who is student’s mentor, place and date (year of submitting the paper)Content contains basic parts through which master thesis was structured (subheadings), as well as page number for each subheading.Introduction should introduce readers to the topic, present the significance of the topic and the reason why a student chose to process that topic in particular, as well as an overview of the content.In the main part of the final paper, a student analyzes the topic of the paper. It contains an overview of theoretical (basic definitions) and practical (illustrative examples, original by default) results which refer to the given topic. This part of the text should be structured through several logical units marked with the appropriate headings and subheadings.Conclusion consists of results that a student gathered while writing final paper.In references section, students state the literature they used while writing the paper, which implies all published sources: books, articles, magazines, anthologies, company reports, internet sites etc.Methods: Students choose the topic of their master thesis in agreement with the teacher of the course in question – mentor from the list of approved topics. Final paper is submitted in three printed copies and one CD copy. Three-member Committee for final papers, which consists of faculty teachers, is appointed by the headmaster and on the proposal of the mentor. Mentor is a mandatory committee member and must be a teacher of the subject about which the student writes the final paper. Defense of the final paper is oral and public and conducted in school’s premises.Grade (maximum number of points 100): Defended final paper is marked with grades ranging from 6 to 10. Final paper grade goes into the student’s average final grade.