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All about enrolling on the link ef.unibl.org/upis/
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Published 17.05.2020 at 22:03
Online preparatory classes
Dear high school graduates,
we believe that you are in your homes with your families and that you are preparing to enroll in studies at the Faculty of Economics of the University of Banja Luka.
We offer the possibility of free online preparatory classes for all of you. All you need to do is sign up for the interested list by entering your Gmail email at https://forms.gle/FeoJo8J9RH5wRKUV9
Our lecturers will provide all applicants with all the information and materials that will help you prepare for the entrance exam: from presentations and video tutorials to possible dates for online consultations.
The planned date for online preparatory classes is the week from 22nd to 26th June 2020 (the week before the entrance exam) and some materials will be available online before that date.
All information about enrollment, study programs and the reasons why #ef_unibl #sigurnoNajboji (#ef_unibl is #certainlythebest) choice for your future can be found at https://ef.unibl.org/upis/. Also, there is a Guide with a Manual available to you where you can review exam questions as well as see examples of exams from previous years.
Until enrollment #ostaniteZdravi (#stayHealthy) and #ostaniteKodKuće! (#stayAtHome!)
Your Faculty of Economics of the University of Banja Luka
Published 10.05.2020 at 22:03
The life of an exchange student in Spain in the midst of a coronavirus pandemic
In the midst of the spread of the coronavirus, several of our students found themselves in countries across Europe on student exchanges. Many of us find it difficult to stay in our homes, and what it looks like when a pandemic finds you thousands of kilometers away from home, tells Miloš Kuzmanović, a student of the Banja Luka Faculty of Economics who is currently on an exchange in Spain.
Miloš, you are on a student exchange in Granada, Spain. Can you describe to us how you got there?
That's right. I arrived in Spain in mid-February to do a student exchange at the University of Granada. Coming here alone was not too strenuous. I flew from Zagreb to Madrid, where I had less than an hour to transfer to a direct flight to Granada. I have to admit that I did pretty well and that, thankfully, I got on that flight with no problems so my trip lasted only 5 hours.
What were your impressions of Spain and studying there before the coronavirus crisis started?
I can start by saying that I feel at home in Spain. People are very nice, friendly and always want to help you. Besides that, the south of Spain is bathed in the sun for most of the year, so in February I had the opportunity to feel the features of the Mediterranean climate and the rather high 30 degrees.
First of all, the studies at the University of Granada are very well organized and open a large number of opportunities for students. From the fact that it is possible to organize time and activities for the current semester in advance, to the possibility of free visits to cultural monuments, a large number of different discounts and the like. These are some of the things that are important for students, in addition to the teaching process itself, which is extremely high quality. It implies continuous work on various projects and a large number of practical activities, preparation of case studies and I would especially emphasize the following of current topics in the world related to the subject whose theory we are working on. I would especially like to mention this because I study economics, which in situations like this, undergoes great changes that are important to follow, so that conclusions can be made about them during the classes.
What did the beginning of the crisis look like? Were rigorous measures immediately introduced as in our country, or was the epidemic approached more relaxed in Spain?
At the beginning of March, the first case of an infected person was registered in Spain. Given that Granada is located in Andalusia, which is in the extreme south of Spain, no major changes were felt in the short term. Around 10th March, I began to notice that people were buying and wearing masks on the streets, as well as that there was a shortage of the same in pharmacies. There were no concrete measures until 15th March, when it was already evident that the virus had taken hold. Since that day, the most rigorous measures of movement ban have been introduced, with the possibility of going only to the supermarket or pharmacy when necessary.
The situation in Spain is one of the most critical in Europe. What measures are in force in Spain and do you have classes?
It is quite clear that the situation is the most critical because the number of patients has outgrown the case of Italy. The measures in force are the same as the ones I have listed and appeal to people to stay at home and go to supermarkets only when necessary. The Faculty was closed on 13th March, when it was already clear that certain restrictions on movement would be introduced. Classes have been organized immediately since 16th March or the first Monday since the mentioned measures came into force. It is maintained via the Internet, using modern online learning platforms, and so far, there have been no problems.
Are people disciplined and do they respect the measures?
People are very disciplined and they respect the measures, because it is in everyone's interest to overcome these circumstances as soon as possible. High fines have also been set for offenders ranging from € 500 to € 3,000 just for leaving without a clear reason or specific permission.
Do you follow what is going on at home?
Of course, I try to follow. I am in daily contact with my parents and friends, so I am familiar with the events. Personally, I emphasize more conversations on other topics because I think that if we only talk about pandemics and negativities, we are only creating an even bigger, unnecessary panic.
What was the reaction of your parents to your decision to stay in Spain despite the coronavirus pandemic?
As I mentioned earlier, the situation in Spain has become very serious in a very short time. The main places of infection became airports, so I wasn’t sure it would be a good decision to head back home. On the other hand, during that period, the borders of EU countries were closed to foreign citizens, which in fact means that I would have big problems finding a way to get home at all. The logical and only remaining decision was to stay here and wait to see if any of the competent institutions will address the circumstances that befell me, as well as other students from the Republic of Srpska who are doing student exchange or other related activities in Spain. My parents of course supported me and understood my decision.
What worries you the most about your specific situation?
In the week behind us, there is a noticeable decline in the number of patients, which is encouraging. There are also indications that the introduced restrictions, which should be in force by 26th April, will be gradually lifted. I experience the overall situation quite calmly and I am not very worried. I am sure that the Spanish government will act in the best possible way, depending on how the situation develops in the coming days.
Have you been offered help by our state?
I have. The Government of the Republic of Srpska has provided financial assistance to all university students from the Republic of Srpska who are engaged in some form of student exchange, internship or other activities. Fixed costs have not changed and in addition to everything we certainly have accommodation costs and other basic costs. In that sense, any help is welcome, and I would like to take this opportunity to publicly thank them.
How do you spend your days in isolation, if you are in the same?
I would say that I spend my days in isolation in the best possible way. In addition to regular activities, online lectures and commitments for the subjects I listen to, I have a lot of time for many other things. My day usually starts earlier and I try to read a lot of everything that I usually lack time for under normal circumstances. In addition, I learn Spanish and listen to a large number of podcasts.
I watch a movie or series from time to time. In such circumstances, my desire to experiment in the kitchen awoke. Sometimes I also cook 2 to 3 times a day. I train almost every day and my day fills up very quickly. I have to admit that sometimes I run out of time to do everything I imagined.
Have you thought about how you will get home if the coronavirus crisis lasts until the end of the exchange program?
I sincerely hope that the pandemic is coming to an end and that the situation will calm down soon. If that does not happen, I am in contact with the people in the Government in charge of the issue of students outside the Republic of Srpska, who have made themselves available to us regarding all doubts. I am convinced that we would find a common solution, but I repeat, I hope that the situation will calm down and that there will be no need to think about this issue.
Finally, do you have a message for the readers of this interview?
I would definitely tell everyone to stay at home and not endanger themselves and their loved ones. For all those who read the interview to the end, I can say that they were obviously very patient and persistent, and these are the two qualities that we desperately need to overcome this trouble. If we act responsibly and respect the measures that have been introduced, we can expect good results in a much shorter period of time. Dedicate yourself, do those things for which the established regime does not leave enough time. Read. Work on yourself or simply do whatever you want as long as you respect the restrictions imposed and do not endanger others. Caution is very necessary, but not panic.
#ef_unibl #sigurnoNajbolji #ostanitekuci #ostanitezdravi
Interviewed by: Nikola Vidović / Photo: Miloš Kuzmanović
Published 28.04.2020 at 17:24
Support for the campaign
The University of Banja Luka gives full support in the realization of the campaign "Let's buy domestic!" conducted by the Chamber of Commerce of the Republic of Srpska, and with the support of the Banja Luka companies "Metromedia" and "Nova oprema".
The goal of the campaign, which the Chamber is implementing within the project of promoting domestic production "Ours is better", is to further influence consumer awareness of the importance of buying domestic products, because by buying products from Srpska we strengthen our companies, keep existing and create new jobs, we set aside more money for pensions, hospitals, schools, which is extremely important at the time of the spread of the corona virus and its impact on the economy.
According to the letter sent by the Ministry of Agriculture, Forestry and Water Management to the universities in the Republic of Srpska, the preservation of jobs in Srpska is of exceptional importance at this difficult time.
More information about the campaign itself can be found on the website of the Chamber of Commerce of the Republic of Srpska.
Photo source: Chamber of Commerce of the Republic of Srpska
Published 10.04.2020 at 14:50
Psychological support for UNIBL students
On 7th April 2020 Faculty of Philosophy of the University of Banja Luka and Association of Psychologists of the Republic of Srpska signed a Memorandum of Understanding on the launch of a psychological support service for students of the University of Banja Luka during the epidemic crisis.
It is envisaged that students of the University of Banja Luka who are facing certain difficulties and challenges of a psychological nature can seek and obtain support from certified psychotherapists free of charge and in an easy way. Students can seek support daily from 9am to 10pm by phone on 065 464 555 or by email: psiholoska.podrska@ff.unibl.org after which the coordinator will connect them with a psychotherapist.
Given the circumstances we are currently exposed to, it is expected that many of us will experience anxiety, tension, fear; loneliness and helplessness; irritability, anger and aggression; problems with concentration and learning; problems in organizing and structuring time; physical signs of anxiety; inability to communicate with loved ones; difficulty in performing daily activities, etc. In such circumstances and with such or other difficulties, we encourage students to contact the service and seek psychological support. Problems of a psychological nature should not be ignored or avoided, they deserve attention as well as physical difficulties, and it is therefore important to seek the assistance of a specialist without prejudice and delay. The duration of this service will depend on the duration and consequences of the pandemic, but we are not limited to the duration of the emergency, since numerous psychological problems persist or even arise after a troubled external situation.
The decision to launch this service was supported by the governing bodies of the University of Banja Luka, the Faculty of Philosophy, which educates psychological staff, and the Association of Psychologists of the Republic of Srpska, which brings together and represents graduate psychologists.
Published 08.04.2020 at 21:35
Students of the fourth year of the Faculty of Economics visit the Management company of the Pension Reserve Fund of the Republic of Srpska
On 10th March 2020 students of fourth year from two modules: Accounting and Auditing and Financial Management, Banking and Insurance within their practical classes and exercises in the subject Analysis of Securities, visited the Management company of the Pension Reserve Fund of the Republic of Srpska a.d. Banja Luka. Students gained insight into the functioning of the PREF Management Company, its investment policy, its employee structure, and the role of the PREF in the Republic of Srpska capital market. Director of the PREF Management Company, Miloš Grujić, Ph.D., gave a lecture in which he presented the work of the Company so far, after which students were able to hear answers to questions of their interest, such as the future investment policy of PREF and opportunities for investments abroad. The Director promised the students professional help in future work, writing professional and scientific papers and research related to the field of work of PREF.
Published 30.03.2020 at 12:03
Free Internet for Students for Distance Learning
Students of the University of Banja Luka who do not have internet access will be provided with free internet access in the coming period for participation in the distance learning process.
In order to allow students free access to the Internet for participation in the distance learning process, they need to complete a form available at the University of Banja Luka website. Students can apply until Wednesday, 1st April 2020, and the form is available here.
Let us remind you, earlier the Minister for Scientific and Technological Development, Higher Education and the Information Society of the Republic of Srpska, Srđan Rajčević, issued Instruction No. 1902/616-7-1/20 of 16th March 2020 on facilitating the distance learning process, at the time the Order No. 19.02/616-7/20 of 10th March 2020 is in force. In order to enable all students to access the Internet for online teaching purposes, Minister Rajčević has reached an agreement with CEO of the company "M:tel" Marko Lopičić to provide free internet, in cooperation with this company, for students studying at higher education institutions in the Republic of Srpska who do not have Internet access.
Photo source: Youth Incorporated Magazine
Published 27.03.2020 at 17:51
Covid-19: Trigger for a new global crisis
According to several influential economic and political analysts, the Covid-19 project is an updated strategic framework for radically changing the course of the global economy. Regardless of the "producer" of the crisis, no one will be left aside.
Radical changes are inevitable, the results are already visible. Global capitalism is changing its long-spent form. This is supported by the fact that an event of this type has rarely ever attracted so much media attention. It is now clear that Covid-19 is just a continuation of the disruption in the global capital market since 2008, as well as all previous crises in the last thirty or more years. In other words, the great financial crisis that escalated in 2008 has never ended. The coronavirus only deepens and speeds up the previously started “business” of monetarists and large capital owners. In a brief analysis of the genesis of the current widespread crisis, two arguments are in focus.
First, the 2008 global crisis caused by the "irresponsible" behavior of bankers, apparently only temporarily, was mitigated by two key factors. (1) The Federal Reserve (Fed) of the United States of America (USA), through monetary policy measures, best reflected in the relatively easy access to "fresh" and cheap money, but not for all "free" market participants. Guided by the same strategy, central banks and governments of other influential economies and political conglomerates (e.g. EU, UK, Japan) have been bailing out financial markets in order to recover their vital mechanisms. The money was printed in trillions and placed in economic flows at an interest rate of about 0.3 percent. It is important to emphasize the fact that large corporations are the biggest beneficiaries of cheap money, despite their excessive liquidity. The stabilization of the world capital market through global executives, including financial institutions and large corporations, has come at the expense of real and sustainable development, neglecting the vital interests of society: education, employment, healthcare, protection of scarce natural resources... In the context of cheap money placement, weaker, less developed economies also pay a great price. The reason for this is precisely multinational corporations that use easily accessible financial capital for rapid expansion through vertical and horizontal integration into whose network they are "fishing" for weaker players in the interdependent market, thus controlling the global chain of production and supply. In this chain, a major role was played by China (the second key factor), which used the vertical specialization policy to make the most of the fragmentation phenomenon of international production. This is precisely the cause of the current collapse of many businesses around the world and the recession that follows.
Neither of these two factors could hardly have had the similar effect in the event of a new crisis as 10 years earlier, for the simple reason that Covid-19 had punctured the overblown bubble of an already unsustainable international economic order based on a concentration of economic interests. First of all, China, regardless of its capacities, cannot correct errors in the global production chain in the foreseeable future. In the present circumstances, China is a major source of procurement of medical equipment and is patiently awaiting its next opportunity. On the other hand, the US Federal Reserve is already proposing and implementing a full range of measures to support the flow of credit to US businesses and families. The long-term strategy is unknown, although there is no doubt that it will resort to similar policies implemented during the Great Recession of 2007-2009. Such measures may temporarily mitigate market distortions, but in these circumstances, it is difficult to predict their long-term effects. Low interest rate policies will certainly be re-proposed to emerge from the crisis, which economists argue can, to some extent, stabilize prices and ease layoffs in the short term.
The emergence of the virus in times of volatility in the global market is irresistibly reminiscent of the 1920s, which is further explained in argument number two. The results of empirical research show that the main problem of the global economy is the continuous devaluation of the dollar (especially in the last thirty years) as a key currency in international economic exchange. The dollar, as such, has enabled the rapid redistribution of world wealth on the one hand and the uncontrolled indebtedness of countries on the other. In the last thirty years, 1% of the world's population has accumulated or "earned" $ 21 trillion in wealth. At the same time, 50% of the bottom-line population lost $ 900 billion. According to Forbes Magazine, 20 people in the world own $ 1.31 trillion in equity. According to the US Federal Reserve, 3.75 billion people have a fortune of $ 1.3 trillion. In other words, the 20 richest people own as much wealth as half the world's population. To help us understand the genesis of the economic crisis, let's go back a hundred years...
Namely, governments, led by the example of the USA, in the 1920s enabled low interest rate policies to enrich a small number of individuals. The gap between rich and poor has been the largest in human history, resulting in mass protests around the world, the rise of political populism, and the victory of radical leaders whose key policies were based on nationalism and trade tariffs. As it was then, the popularity of Donald Trump, the current President of the United States, has increased significantly with the introduction of trade barriers. The availability of cheap capital leads to an unstoppable and unfounded increase in the value of the property. In the last 10 years alone, the value of the stock has increased fourfold. As in 1929, when the relative ratio of the total value of the capital market to GDP reached a value of 141%, this ratio is still high today, at 155%. If this ratio is greater than 100%, the value of the capital market (stock market value) is overestimated, and the reasons are the large consumption of unearned money, which has been expressed in recent decades. All this generates uncontrolled internal and external debt.
If we go back to interest rates ranging from very low (late 20s), very high in the aftermath of the Second World War (20% in the early 1970s) to again very low (below 1%) in recent decades, we can conclude that the circle is closed after 90-100 years, which means that the debt is also close to the limit of 100%. The example of the US as a world economic superpower, as President Trump calls it, clearly shows that the result of economic growth is uncontrolled borrowing. The US budget deficit in 2019 reached a dizzying $ 1.3 trillion. The history of financial operations teaches us that we cannot sustain economic growth indefinitely by debts.
In light of the above, everything that follows is simply difficult to predict, which is called, in the conditions of uncertainty, the Black Swan, a metaphor for an unpredictable and rare event that goes beyond what is usually expected and has potentially severe, above all, economic consequences. It is difficult to predict it using standard measurement methods. According to the predictions of Roman rulers, the Black Swan appears every 90 years, and their claim is based on the fact that everything in life is cyclical, has its beginning, development, decline and end. Human life follows the same path, spanning four generations of 22 years between each. Whether this is the case with the economy and the current crisis fueled by Covid-19 remains to be seen. In the end, it is not difficult to conclude that this circle in the context of the behavior of the global economy can be explained by movements in the interest rate and debt levels.
Prof. Jovo Ateljević, PhD, Full Professor
Published 27.03.2020 at 12:55
Resources of the Faculty of Economics for the benefit of society
A 3D printer owned by the Faculty of Economics of the University of Banja Luka has been activated for the purpose of printing face shields for the medical staff of the University Clinical Center Banja Luka (UKC). This is a 3D printer that was procured through the project Laboratory for the Electronic Business of the Faculty, with the financial support of the Ministry of Scientific and Technological Development, Higher Education and the Information Society of the Republic of Srpska.
Specifically, the supplier company, Infocom d.o.o. Banja Luka, on 3D printers, including a printer owned by the Faculty, prints face shields for the needs of UKC with the aim of facilitating the work and increasing the safety of the medical staff of UKC Banja Luka.
This is just one example of the use of 3D printers as state-of-the-art technology applicable in various business and work segments. The Faculty of Economics of the University of Banja Luka, hereby confirms its determination to contribute to the fight against the spread of the epidemic in the Republic of Srpska.
#ef_unibl #sigurnoNajbolji #ostanitekuci #ostanitezdravi
Published 25.03.2020 at 13:46
Google Classroom – 23rd March 2020
In accordance with the guidelines of the Ministry of Scientific and Technological Development, Higher Education and Information Society, as well as the Rector of the University of Banja Luka, classes in all subjects in the first, second and third cycle studies will be organized in the form of Distance Learning, starting from 23rd March 2020. The Faculty of Economics started this form of classes on 16th March 2020 through the mailing list and website of the Faculty, and from Monday, 23rd March 2020, we will be using Google Classroom in parallel.
Unfortunately, the society is in difficult situation but we need to use what we can in any hardship. In this case, we are forced to use this form of learning that has certain advantages that we would not have tried had we not been in this situation.
We will perform distance learning with the help of the Google platform – Classroom, which is a standard part of Google's online applications. You can find the instruction manual in the video: https://www.youtube.com/watch?time_continue=1&v=ye71VfdLb5g&feature=emb_logo
When you start the Google Classroom application, in the upper right corner you will find a "+" sign and, by clicking this button you have two options ("Join class" and "Create class") ----> select the option "Join class" and enter the code: (the teacher should paste the code here)
Important Note: Students can only join Google Classroom from an email address of the domain student.ef.unibl.org. For this purpose, the administrator of the Faculty has opened e-mail addresses for each student. So, each student will use a new Faculty account tied to a Google server that is accessed through gmail.com.
The username is in the uniform form of name.surname@student.ef.unibl.org, with a few exceptions due to duplicate names and surnames. English alphabet characters, that is, Latin characters without diacritics, were used to create usernames. The password is the last 8 digits of a student's Unique Master Citizen Number (JMBG). You can access your email address with the Faculty's domain through gmail.com.
For duplicates in the first cycle studies, the year of enrollment was added (e.g. danilo.vukovic19@student.ef.unibl.org, jovana.popovic19@student.ef.unibl.org, marija.popovic19@student.ef.unibl.org, nikolina.skrbic19@student.ef.unibl.org, jelena.ivanovic17@student.ef.unibl.org, nemanja.savic15@student.ef.unibl.org), and in the second cycle studies the letter 'm' was added (jovana.cumbom@student.ef.unibl.org, aleksandra.graonicm@student.ef.unibl.org). Students with double surname add a hyphen between the two surnames in the email address.
In accordance with the Rector's order, this form of learning is considered compulsory, that is, it is considered that you are provided with lectures. Of course, in the case of justifiable reasons (primarily of a health nature) - there is an understanding.
If there are any problems entering the platform, please feel free to contact our network administrator Milan Damjanović, B.Sc. in Electrical Engineering at milan.damjanovic@ef.unibl.org.
We wish you successful learning and good health!
#ef_unibl #sigurnoNajbolji#ostanitekuci#ostanitezdravi
Published 20.03.2020 at 09:43