Undergraduate studies - Economics and Tourism

COURSE CODE	COURSE TITLE	ECTS
OEK1	Fundamentals of Economics	7

Basic info

Undergraduate

1st

Obligatory

Tourism, Management in Tourism, Tour Operators & Tour Guiding, Hotel Management

Winter

Serbian

Course description

Introduction to economics, Basis of economic analysis and economic laws, Market and competition, Elasticity of demand and supply, Preferences, Consumer's choice and risks, Production and organization, Production costs, Perfect competition, Market power and price determination, Monopoly and oligopoly, Monopolistic competition, Production factors market, Externalities, public services, shared resources and taxes; Basis and goals of macro economy, Macroeconomic aggregates, Revenue, expenditure, savings and investment, Macroeconomic balance, Unemployment- population, Money, inflation and deflation, Economic growth and economic cycles, Financial system, Banks, money supply and monetary policy, International trade, globalization and economic transition.

References

1. Dr Z. Milenković, Osnovi ekonomije, VTS, Beograd, 2011
2. Paul A. Samuelson & William D. Nordhaus: Ekonomija, MATE d.o.o Zagreb, 2000
3. S.Pindyck & D.Rubenfild : Mikroekonomija, MATE, 2005

Classes per week

4+1

Grading (max. points 100)