Contemporary Economics Systems
Instructor: Славиша Ковачевић, PhD, Full Professor
Starting from the assumption that students have mastered the basic economic categories in previous years, students will study economic systems which differ among each other according to the following characteristics: the right of ownership of the means of production, the mechanism of transmission of information relevant to production decisions, decision-making level and motivation of business entities. They will study specific systems, large and small (territorial), developed, developing as well as transition countries.
| Code : | О17МСЕС |
|---|---|
| Status: | C |
| Semestar: | 8th |
| Number of classes per week: | 4+2 |
| ЕECTS: | 6 |
| Teachers: |
Славиша Ковачевић,
PhD Full Professor |
| Prerequisites: | |
| Learning Outcomes (gained knowledge): | After completion of the course students will have basic knowledge of facts, principles and concepts in modern economic systems. It is expected that they will expand their knowledge of economic categories, successfully examine the similarities and differences between certain types of economic systems and be able to compare and analyze the success of ones and failure of others in similar circumstances and at similar levels of development. |
| Subject Contents: | Concept and definition of the economic system; Types and models of economic systems; The main determinants of the economic system (ownership, decision making, motivation, coordination mechanism); Measuring the difference in economic systems; Comparative analysis of the performance of modern economic systems (economic growth, efficiency, stability, openness, distribution, standard and quality of life); Economic system and economic policy; Functioning of the market economy; Characteristics of the market system; Institutions of a modern market economy; Versions of developed market capitalism; Illiberal model of the German and Japanese capitalism; China - from central planning to the "one country, two systems"; The transition process - from the USSR to the Commonwealth of Independent States; Economic collapse of the "socialist" economies - methods of market transformation and economic stabilization; The role of the state and political transformation: transition countries, East Asia, Latin America; Characteristics of the world economy; Globalization and transition. |
| Teaching Methods and Learning Activities: | Lectures i.e. systematic transfer of knowledge from the literature, interactive teaching. Exercises, illustrations, discussions with students, discussing cases from practice. Preparation and presentation of seminar paper with the mandatory application of the methodology for the preparation of professional papers, consultations. |
| Literature: | Bajec, J.; Joksimović, Lj. (2006). Contemporary Economic Systems. Belgrade: Faculty of Economics; Vukmirica, V. (2012). Economics and Contemporary Economic Systems. East Sarajevo: Institute for Textbook Publishing and Teaching Aids. |
| Types of Assessment for the subject: | Colloquium I (0-20 points); Colloquium II (0-20 points); Final exam (0-50 points); Attendance (2point); Class activities (seminar papers, discussions, case studies) (0-8 points) |
| Special Remarks for the subject: |