Master academic studies in Economics and Business Management
Structure of the curriculum
The Economics and Business Management master study program lasts one year (2 semesters), cosists of 60 ECTS and belongs to the field of social and humanities, the field of Economic Sciences. Upon completing this study program, student obtain master of economics degree.
This master study program has ten modules: Economic Policy and Development; International Economy; Innovation and Technological Entrepreneurship; Marketing; International Management; Management in the Public Sector; Management in Tourism; Accounting and Business Finance; Risk and Insurance and Finance and banking and it results in the academic title of master of economics.
The conditions for enrolling in this study program and other essential elements of the study program and the study regime are prescribed by the Statute of the Faculty of Economics University in Kragujevac, the Rulebook on the Faculty's study rules and the Rulebook on student enrollment in the study program of the University of Kragujevac.
Teaching methods will depend on the type of teaching, and they can be active teaching, independent work of students, colloquiums, exams, study research work and the preparation of a master thesis. Active teaching is achieved through lectures, exercises, consultations and mentoring. Teaching is achieved through constant contact of students with professors and associates. Lectures, exercises and consultations are held every week in the semester according to the schedule.
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. A total of five courses are studied, three of which are compulsory, and the remaining two are chosen from a basket of elective courses, the size of which depends on the module. It is planned that the first semester consists of four courses, and in the second one there should be fifth course and professional practice. After passing the exams, the student is obliged to write and defend a master thesis.
The purpose of this study programme
This study program has a clearly defined purpose and role in the educational system, accessible to the public.
The purpose of the master study program Economics and Business Management is to enable students, through further scientific and professional education, to deepen their knowledge in the areas of: economic policy and development, international economy, marketing, management, tourism and hotel management, accounting and business finance, finance, banking and insurance, within which micro and macro economic decisions are made, important for the functioning of the economic system and economic entities; economy of growth and development; monetary policy and public finance; institution of the financial market and financial instruments; banking and electronic payment system.
The knowledge acquired in this study program provide students with the opportunity to successfully master techniques and skills for competently solving key problems faced by business entities, banks and other financial institutions, state institutions, profit and non-profit organizations, in which future master economists will be professionally engaged.
The purpose of this study program is that, on the basis of deepened and improved theoretical, methodological and applied knowledge, students will be able to perform the most complex analytical, project and managerial activities in the organizations and institutions in which they will be employed, in the complex conditions of global economic processes and accelerated technological development.
The study program of master academic studies provides quality fundamental, theoretical-methodological, scientific-professional and professional-applied knowledge for further scientific and professional training of students, as well as for their successful inclusion in the educational and scientific process of doctoral academic studies.
The Faculty of Economics of the University of Kragujevac has defined the basic tasks and objectives within the Quality Assurance Strategy, with which the purpose of this study program at the master academic studies is fully aligned.
Objectives of the this study programme
The master study program Economics and Business Management has clearly defined objectives. Its objectives derive from the basic objectives and tasks of the Faculty and are determined by the purpose of this study program. The skills and specific knowledge offered by this study program are more closely defined in one of the ten modules: Economic Policy and Development; International Economy; Innovation and Technological Entrepreneurship; Marketing; International Management; Management in the Public Sector; Management in Tourism; Accounting and Business Finance; Risk and Insurance and Finance and banking. The objectives are:
- Deepening theoretical, methodological and applied knowledge in the field of economic policy, macroeconomics, economic growth and development, institutional economics, international finance, financial institutions and instruments, banking and stock exchange operations, accounting, innovation, entrepreneurship, marketing and management;
- Enabling students to understand and further study the key open questions of contemporary economic theory and economic practice;
- Training students for the competent application of acquired theoretical and applied knowledge in solving specific problem situations faced by business entities, banking and financial institutions, state and local government bodies in their functioning, in which future master economists will be engaged;
- Enabling students of master academic studies to acquire knowledge and techniques during their studies, and above all during the preparation and presentation of the final master thesis, for independent theoretical and practical analysis of relevant problems of contemporary economic science and practice;
- Acquiring knowledge necessary for the continuation of students' education within doctoral academic studies.
The Faculty of Economics of the University of Kragujevac has defined the basic tasks and objectives within the Quality Assurance Strategy, with which the objectives of this master study program are fully aligned.
Competencies acquired within this study programme
By completing the master study program Economics and Business Management, the student acquires general and subject-specific abilities that are in the function of quality performance of professional, scientific and artistic activities.
Students who complete this study program will possess general competencies related to the ability to: analytical reasoning, planning and organizing, solving problem situations, applying knowledge in practice, flexible adaptation to new situations, independent work and project management.
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 this master study program.
Students supplement the knowledge acquired during undergraduate academic studies in order to apply the acquired knowledge and skills to solve specific problems in the business environment at the level of economic entities, as well as to prepare for further scientific and research work.
The Economic Policy and Development module: Students acquire academic knowledge and practical skills that enable them to successfully solve complex problems at the level of companies, banks, state and local government bodies and other profit and non-profit organizations. Acquired specific knowledge about the functioning of the economy in modern conditions provides the students of master academic studies with the competencies to actively participate and contribute to solving specific economic problems. Students are trained for independent qualitative and quantitative analysis of the growth and development of the national economy, as well as for successful assessment and forecasting of the current and future trends of the domestic economy. Students acquire competencies for performing complex economic tasks in various public institutions and private companies. Students are trained to independently monitor current theoretical and practical economic trends, which is a requirement for engaging in complex analytical activities in the work of state bodies, local government bodies, for work at faculties and scientific research institutes, as well as for further scientific advancement within doctoral academic studies.
The International Economy module: Students acquire academic knowledge and practical skills that enable them to successfully solve complex problems in the field of international economic relations, foreign trade and international business. Students are trained to work and perform more complex jobs in multinational companies and domestic business entities that do business with foreign countries. Students who complete this 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 government bodies, etc.
Innovation and Technological Entrepreneurship module: Students acquire academic knowledge and practical skills that enable them to navigate successfully in an environment that is subject to increasingly dynamic and complex changes. Students acquire professional competencies that enable them to recognize technological possibilities, that is, the development of ideas, knowledge and new technologies through the appearance of new products and services on the market. In this way, students are trained to perform complex and creative jobs in companies that are ready to adapt to changes, i.e. to change and innovate.
Marketing module: In addition to general economic-financial, statistical-methodological and business management competencies, students acquire academic knowledge and practical skills that enable them to successfully solve more complex situations when it comes to business organization, evaluation and use of market research results, sales, procurement, distribution, product development, promotion, situational analysis and marketing planning. In this way, students are trained to perform more complex tasks within the analysis and planning of marketing activities, sales, market representation, commercial, product or brand development, promotional activities, etc.
International Management module: Students acquire academic knowledge and practical skills that enable them to perform more complex tasks at an international level in the field of strategic management, human resource management, logistics, planning, quality management, market research, as well as for the creative use of modern information and communication technology. Students who complete this module will be able to perform tasks: planning, organizing, controlling business processes, human resources management, quality management, financial management, international business management, in profit and non-profit organizations, state and international institutions, etc.
Management in the Public Sector module: Students acquire academic knowledge and practical skills that enable them to successfully perform managerial and analytical tasks in the public sector. The specificity of the public sector requires a special study of its organization, management, financing, public relations so that students acquire the necessary knowledge to understand its role, organization, legal structure and way of functioning in general. Students who complete this module will be qualified to perform complex professional and managerial tasks in the public sector.
Management in the Tourism module: Students acquire academic knowledge and practical skills that enable them to successfully perform managerial and analytical tasks in the field of business economics, with a special emphasis on tourism and other complementary activities, i.e. the sphere of creating a tourist product, its promotion, sale and application of modern information and communication technology in tourism and hotel industry. Students who complete this module will be qualified 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 sectors. The acquired knowledge enables students to solve specific problems in the management of hotel companies, tourist destinations and other organizations that are directly or indirectly related to the field of tourism.
Accounting and Business Finance module: Students acquire academic knowledge and practical skills that enable them to successfully perform highly specialized jobs in the field of accounting, auditing, financial management in all economic sectors: financial sector (banks, insurance companies, investment and pension funds), profit sector (production, trade and service business entities), auditing firms, public sector, etc. Students who complete this module will be able to perform the following tasks: management of accounting and managerial 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.
Risk and Insurance module: Students acquire academic knowledge and practical skills that enable them to successfully manage risk when performing business activities, understand the organization and functioning of the insurance market, as well as to perform activities in institutions and on the insurance market. Students are trained to work in insurance companies as well as in other institutions that distribute insurance offers. Students who complete this module are qualified to perform following jobs: economists in insurance companies, insurance brokers and representatives, actuarial jobs, banking jobs, financial expert jobs in insurance companies, professional associate in the procedure of processing and liquidating insurance claims, etc.
Finance and Banking module: Students acquire academic knowledge and practical skills that enable them to solve more complex problems in the field of monetary system and monetary policy, banking business, organization and functioning of the financial market, stock market business and activities of institutional investors. Students are trained for a competent theoretical and practical understanding of the key relationships of financial and real sectors of the modern economy. The competence of the students is manifested through their ability to professionally and responsibly manage relevant transactions on the financial market, with the aim of successful business operations of the subjects in which they perform responsible work. Students who complete this module are qualified to perform following jobs: portfolio managers, economists in international financial organizations, actuarial jobs, banking jobs, stock broker jobs, financial inspectors, financial experts, professional associates in state administration and local self-government bodies, etc.