Economic transitions

Pre-requisites: Students can attend lectures, but only take the final exam if they have passed the exam for «Fundamentals of Economics».

Course objectives: The goal of this course is for students to be introduced to the complex and often controversial processes of transition which comprise the basis for analyzing complete spectra of value-oriented, sociological and political changes in modern societies.

Course description: Through this course, students will be introduced to the contemporary transitional developments that occurred in ex-socialist countries during the 90's, which became the basis from which these countries globalized their economies and which created the complex issues surrounding joining and participating in the international economy. We will examine models of privatization not only in Serbia, but also other ex-Yugoslavian republics and ex-socialist countries, along with the models of privatization that were imitated from developed countries. The process of privatization will be compared and contrasted with the experiences and development of business and entrepreneurship in developed countries – including how they responded and acted during times of transition. Along with that, we will survey transitions in the financial sector, which acted as a key segment of the process of privatization and is the dependent factor in relation to the financing and development of new private businesses and corporations.

Learning Outcomes: Students will be familiar with the broad spectrum of economic currents and macroeconomic mechanisms that are necessary to be able to thoroughly study and understand the value of the process of privatization and entrepreneurship in ex-socialist countries.

Economic transitions

Pre-requisites: Students can attend lectures, but only take the final exam if they have passed the exam for «Fundamentals of Economics».

Course objectives: The goal of this course is for students to be introduced to the complex and often controversial processes of transition which comprise the basis for analyzing complete spectra of value-oriented, sociological and political changes in modern societies.

Course description: Through this course, students will be introduced to the contemporary transitional developments that occurred in ex-socialist countries during the 90's, which became the basis from which these countries globalized their economies and which created the complex issues surrounding joining and participating in the international economy. We will examine models of privatization not only in Serbia, but also other ex-Yugoslavian republics and ex-socialist countries, along with the models of privatization that were imitated from developed countries. The process of privatization will be compared and contrasted with the experiences and development of business and entrepreneurship in developed countries – including how they responded and acted during times of transition. Along with that, we will survey transitions in the financial sector, which acted as a key segment of the process of privatization and is the dependent factor in relation to the financing and development of new private businesses and corporations.

Learning Outcomes: Students will be familiar with the broad spectrum of economic currents and macroeconomic mechanisms that are necessary to be able to thoroughly study and understand the value of the process of privatization and entrepreneurship in ex-socialist countries.

Literature/Reading:

• Zec, M i B. Živković, TRANZICIJA REALNOG I FINANSIJSKOG SEKTORA, Institut ekonomskih nauka, Beograd, 1997.
• WORLD DEVELOPMENT REPORT, World Bank, Washington D.C., 1996, 1997, 1998, 1999, 2000.
• TRANSITION REPORT, European Bank for Reconstruction and Development, 1994, 1995, 1996, 1997, 1998, 1999, 2000.
• Erić, D., FINANSIJSKA TRŽIŠTA I INSTRUMENTI, Naučna knjiga, 1997.
• 3. La Porta, R., F.L. de Silanes, A. Shleifer, R.W. Vishny, LAW AND FINANCE, NBER Working Paper, July 1996.
• 4.Mishkin, F.S., THE ECONOMICS OF MONEY, BANKING AND FINANCIAL MARKETS, Addison-Wesley Longman Inc, United States, 2002.
• Bajec, J. i Lj. Joksimović, SAVREMENI PRIVREDNI SISTEMI, Ekonomski fakultet, 2001.