Course ID 17ССА10
  • Banking and Stock Trading
Number of classes 3+3
Semester 1
Status Core
Course objective is the acquisition of knowledge of financial instruments for public sector. The course objective is that after completing the learning process, students are introduced to methods and possibilities of financing public bodies, the state and lower legal units, as well as funds for providing compulsory social security services. The goal is for students to know how to link the financing of these entities with the political process and the political cycle. Also, the goal is for students to be able to describe the basic budget determinants as a separate public financial instrument, through the study of budgetary principles, the budget cycle (adoption, execution and control of the budget) and the basis of treasury operations. In addition, the goal is for students to know how to define, describe, and analyze extrabudgetary funding instruments after completing their learning process, with a particular focus on the problem of financing compulsory social security and possible directions for reforming the intergenerational distribution system.
Upon completing the learning process within the courseFinancial Instruments for Public Sector, students will be able to:
• define and describe the budget process and the budget cycle;
• analyze ways of financing publicexpenditures;
• identify and analyze the problems of the reform of the compulsory social security system;
• distinguish between productive and unproductive expenditures and their impact on the functioning of the entire economy as well as on individual sectors of the economy - enterprises and households.
Theoretical training
• The concept of the public sector and the specifics of the public sector economy (with particular reference to public goods and problems encountered in their delivery);
• Formulating policies and preparing the budget and its execution and control;
• Public procurement management and public-private partnership as a means to reduce public expenditures;
• Multi-year planning and investment programming;
• Extrabudget financial instruments (their adoption, financing and spending, their impact on the public and private sectors).
Practical training
• Сase studies;
• Practice classes/exercises (including analysis of existing legal solutions in the Republic of Serbia);
• Seminar papers.
Stiglic, J. (2013). Ekonomija javnog sektora. Beograd: Ekonomski fakultet Univerziteta u Beogradu.

Аранђелковић, М. (2010). Буџетско право. Ниш: Правни факултет у Нишу.

Ракоњац-Анитћ, Т. (2012). Пензијско и здравствено осигурање. Београд: Економски факултет Универзитета у Београду.

Релевантни законски прописи Републике Србије
Lectures and practice classes, case studies, discussions, presentation of examples from professional practice, creation and presentation of seminar papers.
Assessment (maximum number of points 100)
Exam Requirements 65 points Final exam  35 points
Attendance 5 Written exam 35
Ongoing assessment 40 Oral exam  
Class participation 10    
Practice: 10    

Practice classes