Study program / study programs: INFORMATION TECHNOLOGY

Type and level of studies: APPLIED, UNDERGRADUATE


Status predmeta: Elective

ECTS credits: 6

Course objective

The objective of the course Fundamentals of Economics is to provide an introduction and fundamental knowledge of economics as a science and its principles, the main categories of macroeconomics and microeconomics, including public and monetary finance, as well as business finance and business accounting with practical examples.

Course outcome

The students will learn how to understand the basic categories in the science of economics: production, distribution, exchange and consumption, human needs, the basics factors of production, productivity, intensity level, division of labor, national wealth, domestic product and domestic income, production of goods, amortization and accumulation, inflation and devaluation, law of value, circulation of capital, economic reproduction, forms and types of organizations, types of assets, what are liabilities, how to calculate cost price, basic principles of running a business. The students will be introduced to the basic principles of accounting, assets, liabilities and equity, balance sheet, profit and loss statement, what are the basic tasks of the finance department, business leverage and financial leverage, the role of financial institutions, the role of Central Securities Depository of Serbia, the principles of Belgrade Stock Exchange, taxes and their types, characteristics of the Serbian tax system, monetary base, currency depreciation and appreciation. 

Course content

  • The concept and subject matter of economics (concept, subject matter, definition and tasks of economics)
    The emergence and development of economics (the emergence of economic thought, the directions of the development of economic thought)
  • The basic economic categories (production, distribution, exchange, spending, social reproduction, personal needs, labor, means of labor, objects of work, labor productivity,  accumulation, personal and material spending, investments, the production of goods, goods, the value of goods, money and the circulation of money, inflation and devaluation, the law of value, surplus value, capital and the circular movement of capital, primary and secondary distribution, the forms of appropriation, rent and profit, the forms of exchange, the market, supply and demand, market equilibrium
  • Macroeconomics (company, complex forms of companies, company’s assets: material, non-material and monetary assets and fixed and current assets, the value of assets, business expenses: the concept and classification of expenses, calculating the cost price, the principles of business, supply and demand management, company financing, financial analysis, financial control and auditing, financial markets: financial institutions, money marker, capital market, stock market operations, central security register, securities commission, foreign exchange market)
  • The basics of accounting (concept, subject matter, tasks and structure, bookkeeping, accounting planning, accounting control, accounting analysis, assets and liabilities, balance sheet and income statement, balance sheet changes, balance sheet breakdown, closing sheet)
  • Macroeconomics (public finance, tax principles, tax system, excise: the emergence and development of money, monetary theories, monetary categories, monetary mass, aggregate monetary demand, money circulation, the value of money, inflation and deflation, devaluation and revaluation)