Master academic studies in Financial management of public administration

Structure of the curriculum

The Financial management of public administration master study program lasts one year (2 semesters), consists 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.

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 of the 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.

The purpose of this study programme

The purpose of the Financial management of public administration master study program is to educate students in the field of financial management of public administration at the level of master academic studies, which ensures deepening of knowledge in the following areas: assessment of intended investments and selection of sources of financing in public administration, assessment of the effects of decisions made in public administration, analysis of financial reports and financial conditions of public administration, internal and external supervision of public administration, budgeting and control, managerial accounting in public administration, financial reporting of public administration, public administration accounting, project financing in public administration, management in public administration, electronic administration and public policy analysis.

The knowledge acquired in this study program provides students with the opportunity to successfully master modern business concepts, methods, solving standards, information technologies, techniques and skills for solving key problems faced by public administration in modern conditions.

The purpose of this study program is that, on the basis of deepened and improved methodological, theoretical and applied knowledge, students will be able to perform complex analytical, project and managerial activities in the field of financial management, accounting, internal and external control and auditing, performance management, budgeting and control, financial reporting, financial analysis and project financing in public administration. All these problems are discussed in the broader context of public policy analysis, public administration management and electronic administration.

The purpose of this study program is to provide students with quality fundamental, theoretical-methodological, scientific-professional and professional-applied knowledge for their further effective scientific improvement and inclusion in the educational and scientific process of doctoral academic studies, but also the necessary basis for efficient and effective involvement in solving real problems faced by the public administration in Serbia.

Objectives of the this study programme

The objectives of the study program of the master academic studies Financial management of public administration arise from the basic objectives and tasks of the Faculty and are determined by the purpose of the study program. The objectives of the study program are to deepen the knowledge and develop the skills of students in accordance with modern achievements in the field of financial management of public administration, which refer to:

• analysis of the financial environment of organizations of public administration,
• financial management of intended investments, analysis of costs and benefits of investment projects and sources of public administration funding,
• short-term financial management in public administration,
• analysis of financial reports and financial conditions of public administration,
• internal and external supervision, as well as internal and external control and auditing in public administration,
• principles, functions and process of budgeting, budget control and performance management in public administration,
• regulatory framework and financial reporting process of public administration,
• application of regulations and cash basis in public administration accounting,
• financing and increasing the efficiency of project implementation in public administration,
• approaches to management and analysis of stakeholders and challenges for the success of public administration organizations,
• concepts, technologies and models of electronic administration, as well as the application of electronic administration systems and services,
• the process of creating and evaluating public policies, theories and models of public policies, and analyzing the motives and expectations of actors in the process of creating public policies,
• training students for independent and team work in solving various problems in public administration and training students for independent studio research work as a basis for further academic and research processes within doctoral academic studies.

Competencies acquired within this study programme

Students who complete the master academic studies Financial management of public administration will possess general competencies related to: the ability to analyze and synthesize, plan and organize, the ability to solve problems, management skills, the ability to work independently and in a team, the ability to communicate, the ability to apply knowledge in practice, the ability to flexibly adapt to new situations, the ability to manage projects, effective communication at the national and international level and a systemic approach to risk management.

 Students will also possess subject-specific, that is, professional competencies that are specified in more detail within the description of learning outcomes within this 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 public administration organizations, as well as to prepare for further scientific and research work.

Through this study program, students acquire knowledge and academic skills that enable them to solve specific problems in organizations of state administration, local government, state audit and inspectorate. Students are trained to apply modern concepts of financing and evaluation of investment projects, analysis and selection of sources of financing, internal and external supervision, budgeting and control, financial reporting, accounting and analysis of financial reports and financial conditions of public administration.