Course ID 17МСА01
  • International Business and Finance
Number of classes 3+3
Semester 1
Status Core
The need to study economic integrations was intensified after the Second World War, when the countries of the world began economic recovery. A number of different types and forms of international integrations have emerged, from a simple reduction of customs rates to the formation of economic unions. It is precisely this diversity and complexity of economic integration that makes them subject for theoretical study. Every international integration has its own specificities that need to be understood and rules by which they operate that must be mastered in order to successfully operate in such markets, especially as a result of the constant formation, disappearance and changing of the form of existing integration. Therefore, the aim of this course is to bring students closer to this issue, in particular, current issues and to enable them to do business in such markets.
After mastering the material from this course, students will be trained to understand the causes of the emergence, development and ways of functioning of different types and forms of international integration, as well as the static and dynamic effects of creating integration. Considering the reference/dependence of domestic trade flows to the European Union, Euro-Asian integration, etc. students will acquire the necessary knowledge for doing business within these integrations, but also understand the rules and principles of the World Trade Organization whose membership Serbia is striving for.
Theoretical training
• Definitions, types and forms of international integration;
• World Trade Organization and economic integrations;
• Customs union, static and dynamic approach;
• Common markets (labor mobility, country of origin, FDI, TNCs);
• Economic Union (European Union, Eurasian Union);
• Integration groups (NAFTA, LAFTA, MERCOSUR, ASEAN, CEFTA;
• The effects of creating international integration.

Practical training
• Case study analysis and real life examples from the professional practice.
Салваторе, Д. (2014). Међународна економија. Београд: ЦИД Економског факултета.

Дамњановић, J., и Ђурић, Д. (2012). Међународно пословање. Нови Сад: Алфа-граф НС.

Jovanovic, М. (2015). Тhe Economics of International Integration, Second Еdition. Cheltenham: Edward Elgar.
Traditional lectures and exercises with the active participation of students. Presentations of short written essays and seminar papers by students. Debates on examples from practice. Analysis of case studies. Interactive work in the form of discussions and presentation of individual attitudes and conclusions about certain problems.
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    


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Practice classes