The study program in Economics is created in compliance with the Law on Higher Education and the Bologna Declaration—undergraduate academic studies within the study program last four years (8 semesters) and correspond upon their completion to 240 ECTS credits. After completing undergraduate academic studies, students can enrol in graduate academic studies (Master's) for one year (2 semesters, 60 ECTS credits).
The study program in Economics consists of seven modules Economics and Public Administration; Accounting, Auditing and Financial Management; Finance, Banking and Insurance; Enterprise Management; Marketing; International Management and Tourism Management. The study program comprises disciplines systematized into academic-general education, theoretical-methodological, scientific-professional and professional-applicative, which are present in the modules in the appropriate proportion. Modern standards of higher education design the teaching process. Its performance includes theoretical and practical teaching methods, with the support of modern information technology.
The educational goal of the study program is to master a set of economic knowledge and skills, for their application in specific economic areas, depending on the chosen module of the studies. The undergraduate student earns the Bachelor with Honours of Economics degree upon completing undergraduate academic studies.
After completing the honorous degree programme in Economics, as a fundamental outcome of academic studies, the economics graduate should be knowledgeable about the current achievements in theoretical and business economics to understand the essential relationships, processes and causal links at different levels of the development of economic life (microeconomic, sectoral, regional, national, international), to use the methods of economic and statistical analysis, to be competent in practically applying solutions to problems in the economy, to use the instruments of economic science expertly for this purpose. Depending on the focus of the study program in Economics, these outcomes are supplemented with modular-specific outcomes.
Upon completing undergraduate academic studies, as an outcome of education, an economics graduate from the Economics and Public Administration module comprehends and understands relevant concepts, solutions and instruments in economic theory and analysis and management in the public sector, which he can apply through creative work engagement. The economics graduate is qualified to competently participate in solving problems emerging from the operation of the economy and public administration, public resource management, defining public policies, the relationship between the state and the market, the problems of developed and developing countries, as well as for engaging in pedagogical and publishing work in the field of economics.
The outcome of education on the Accounting, Auditing and Financial Management module is knowing and understanding all relevant concepts, solutions and instruments for implementing accounting and auditing functions, as well as financial management, which can be creatively applied in different management environments. A graduate student can competently participate in various forms of accounting processing of economic flows generation of external financial and specialized internal reports; internal audit, external audit of financial statements; financial management and organization of the accounting information system.
After completing Finance, Banking and Insurance module studies, the graduate comprehends the concepts, solutions and instruments related to public finance, monetary economy, banking, insurance and financial markets, which he/she can creatively apply through his/her professional engagement. The graduate is qualified for professional participation in the business processes of consulting companies, broker-dealer companies, banks, investment funds and insurance companies, financial markets (foreign exchange, money and capital markets), and stock exchanges, as well as for analysis of financial statements, evaluation of companies and their creditworthiness, analytical examination of tax and other public duties, income and expenditure of budgetary and extra-budgetary institutions.
Students graduating from the Enterprise Management module acquire and understand the concepts, solutions and instruments related to the management of companies of different ownership and sector structures and sizes and can apply them to varying levels of business management. The economics graduate in this field is competent to perform tasks in the domain of business process management, resource management, and measuring business performance.
Students graduating from the Marketing module acquire and understand all relevant concepts, solutions and instruments related to the functioning of marketing approaches in different business environments. In this module, economics graduates develop competencies for professional engagement in the domain of market-oriented business activities, synchronized and organized market performance, market research, development of products, services and ideas, creation of a recognizable corporate image, development of strong and valuable brands, implementation of sales and distribution activities.
Students graduating from the International Management module acquire and understand all relevant concepts, solutions and instruments related to the international business of business entities and can apply them in business practice. The graduate from this module can competently work in foreign trade, foreign exchange and customs operations, international trade in services, capital transfer, international finance, international commerce and financial organizations, and international economic integration.
Students graduating from the Tourism Management module acquire and understand all concepts, solutions and instruments related to the functioning of the tourism sector. A graduate of this module is competent in hotel management, hospitality, agency business, informational and propaganda support for tourism activities, and tourism development policy.
The Economics program in the first year of study (volume of 60 ECTS) is standard for all modules. The courses Foreign Language 1,2,3,4 (scope 4x2 ECTS), Informatics (scope 7 ECTS), Professional Internship (3 ECTS), Course paper and the Bachelor’s final paper (1 ECTS) are standard for all modules. 79 ECTS credits out of 240 ECTS credits are standard to all modules, approximately 33% in percentage terms.
Within each module, the economics program contains 36 teaching disciplines, divided into 24 compulsory, 8 elective disciplines and 4 courses related to a foreign language (one of the 2 foreign languages offered, English or French, can be chosen). The share of compulsory/required disciplines in the total curriculum for each module is 77.8%, and the percentage of electives is 22.2%. Represented according to the number of ECTS points, compulsory/required disciplines carry 75% of ECST points. In comparison, electives take 23.3% (professional internship and the Bachelor’s final paper within the syllabus are added to calculate the total number of ECTS points). The first two semesters are standard for all modules. Each discipline is taught for one semester with a load of 6 classes per week, except Foreign languages 1, 2, 3 and 4, which are taught for one semester with a load of 2 classes per week. Courses in the first semester, standard for all modules, carry 8 ECTS points, while all other courses carry 7 ECTS points, except foreign languages 1, 2, 3 and 4, which carry 2 ECTS points each. Professional intership in the seventh semester carries 3 ECTS points. The Bachelor’s final paper carries 1 ECTS point.
Candidates with appropriate secondary education can enrol in this degree program. An enrollment candidate for the first year of study takes an entrance exam. The list of candidates considered for admission is determined based on the general success achieved in secondary education and the results achieved in the entrance exam. The highest expected passing score is 60 points. Success in secundary education carries a maximum of 40 points. The Faculty establishes a merit list for fully-funded candidates and self-funded candidates. The place in the merit list determines whether the candidate can be enrolled in the first year of study.

As one of the respected domestic educational and scientific-research institutions in economics, the Faculty of Economics in Niš bears a special responsibility in forming the human resources needed to stimulate the economic development of Southeastern Serbia. Sustainable economic development, based on effective inclusion in the modern division of labour, represents a formidable task for the domestic economic profession. The Faculty of Economics formed the study program with seven modules to comprehensively answer the mentioned challenge.
The purpose of the study program in Economics is to make highly educated cadres competent for inclusion in modern economic flows and to raise the efficiency and competitiveness of economic entities contributing to the sustainable development of the region of Southeastern Serbia and the entire domestic economy. The purpose of education in this study program is to prepare students for a higher level of education, Master's studies in economics.

The Economics study program equips the graduate with general and modular-specific competencies. The general competencies that a graduate student acquires relate to advanced academic knowledge in the field of theoretical and business economics, the ability to analyze, synthesize, evaluate, but also to separate factual from value judgments, critical (and self-critical) reflection on economic reality, communication skills (interpersonal, intradisciplinary but also interdisciplinary), use of relevant theoretical and software solutions, as well as readiness to manage complex projects, cadres training, improvement of existing knowledge (from economic but also complementary disciplines), application of ethical standards and permanent learning. Furthermore, the study program presents the purpose of the individual modules and modular-specific competencies, the types of business entities where they can be applied and the groupings of specific occupations they cover.

The Economics and Public Administration module aims to form an economic cadres focused on the field of general economic theory and analysis and relevant aspects of the public sector. Module-specific competencies in the Economy and Public Administration module refer to a set of knowledge, skills, abilities and attitudes in microand macroeconomic analysis, economic research methodology, public sector economics, and economic policy. They can be effectively applied in state bodies, institutions and companies, institutions responsible for social planning, development and investments, and significant economic systems. The jobs for which an economics graduate is qualified are:

• economics careers in public sector companies of all activity profiles,
• careers in consulting, analysis and forecasting of macroeconomic trends,
• economics careers in state administration bodies at the republic, regional and local levels
• economics careers in state agencies,
• economics careers in trade unions and employers' associations.
• careers of economics commentator, editing in publishing in the field of economics, and scientific research work in the field of economics.

The purpose of the Accounting, Auditing and Financial management module is to educate economists to perform tasks in the field of accounting, auditing and financial management. Module-specific competencies in the Accounting, Auditing and Financial Management module refer to a set of knowledge, skills, abilities and attitudes related to the areas of preparation and compilation of external financial statements; preparation and compilation of specialized internal statements; internal audit, financial management, external audit of financial statements and accounting information system organization.

• careers in the domain of financial and management accounting in commercial and non-commercial organizations;
• internal audit;
• external audit;
• state audit;
• making financial and investment decisions;
• jobs of an investment advisor;
• financial and accounting analysis;
• company valuations;

The Finance, Banking and Insurance module aims to educate economists in highly specialized managerial and analytical jobs in finance. Module-specific competencies in the Finance, Banking and Insurance module include integrated knowledge, skills, abilities and attitudes in the areas of operations of consulting companies, broker-dealer companies, banks, investment funds and insurance companies; financial markets (foreign exchange, money and capital markets), stock exchanges; analysis of financial statements, evaluation of companies and their creditworthiness, analytical interpretation of tax and other public duties, income and expenditure of budgetary and extra-budgetary institutions. Economics graduates can use the knowledge, skills and abilities acquired in this module in institutions that participate in various roles in the financial market: commercial banks, companies, the National Bank, other institutions of financial mediation and insurance, and state administration. The following professions cover the abovementioned job characteristics:

• economic affairs in companies dealing with banking, insurance;
• portfolio management careers;
• careers of financial experts and risk managers;
• actuarial work;
• careers in assessing insurance risk and damage; insurance brokers and agents,
• careers of dealers and brokers at work on the stock exchange;
• careers of financial inspectors (primarily for banks and insurance companies);
• economics careers in regional and international financial institutions;
• careers of expert associates in the SEC, finance ministries, labour and social affairs.

The purpose of the Enterprise Management module is the education of economic cadres trained for business management. Modular-specific competencies in the Enterprise Management module include integrated knowledge, skills, abilities and attitudes in business process management, resource management, and business performance measurement. Economics graduates can creatively apply the knowledge gained in the module in profit and non-profit organizations with different ownership profiles, state, international and non-governmental organizations. The set of jobs that economics graduates can perform includes the following:

• tasks of planning, organizing, leading and controlling business processes;
• tasks of organizing the structure and process;
• human resource management tasks;
• performance measurement careers;
• quality management careers;
• project management careers;
• organizational development, restructuring, business consulting jobs.

The Marketing module aims to educate economists who specialize in marketing. Module-specific competencies in the Marketing module include integrated knowledge, skills, abilities and attitudes in the area of market-oriented business activities, synchronized and organized market performance, market research, development of products, services and ideas, creation of a recognizable corporate image, development of strong and valuable brands, performing sales and distribution activities, which can find their application in production-oriented companies, financial institutions, service activities. The set of jobs that an economist with these qualifications can perform is:

• market and marketing researcher;
• sales officer;
• market representative, commercialist;
• marketing analyst and planner;
• sales price analyst;
• product manager or brand manager;
• market manager;
• promoter and market sales representative abroad;
• media planner, propagandist, PR manager.

The International Management module aims to educate economists specializing in the international aspect of business operations. Module-specific competencies in the International Management module include a set of knowledge, skills, abilities and attitudes in the field of foreign trade, foreign exchange and customs operations, international trade in services, capital transfer, international finance, international trade and financial organizations, international economic integration applied in organizations dealing with foreign trade, companies and banks, state institutions. The set of jobs that an economics graduate can perform includes the following professions:

• economist in foreign trade companies;
• economist for international business issues in companies and banks;
• economist of customs operations;
• manager in freight forwarding companies;
• associate in state institutions for economic relations with foreign countries.

The Tourism Management module aims to train cadres qualified to perform economically relevant jobs in the field of tourism. Modular-specific competencies in the Tourism Management module include a set of knowledge, skills, abilities and attitudes in the field of hotel management, catering, agency business, information and propaganda support for tourism activities, and tourism development policy, which are applicable in public and private tourism enterprises, cultural institutions with tourism potential, state bodies responsible for tourism. The set of jobs economics graduates can perform are:

• manager of a travel agency/tour operator;
• tour operator product manager, managers in hotels and other tourist companies;
• officer for analysis and calculations in tour, hotel companies and other tourist and related companies;
• hotel manager;
• planner, analyst and associate in tourism enterprises, associations and the public sector.

The study program in Economics aims to educate experts with appropriate competencies and academic skills, as well as to develop creative abilities and specific practical skills necessary for the performance of tasks in particular fields of activity of the  economics graduate that is the focus of 7 individual modules:
Economics and Public Administration. Students are trained to apply economic-theoretical analysis to specific economic problems and acquire the academic knowledge necessary for creatively solving economic issues in public institutions, large economic systems, etc. Learning the methodology of economic research and the tools of quantitative and qualitative analysis enables:
    - analysis of complex issues in the economy and public administration;
    - understanding how public institutions manage public resources;
    - creation and analysis of public policies.
Accounting, Auditing and Financial Management. The goal of the module is to develop competencies for performing highly specialized jobs in the field of accounting, auditing and financial management:
     - preparation and compilation of external financial statements,
   - preparation and compilation of internal statements to direct and systematically control the business and     financial processes of companies and other organizations,
     - financial management,
     - internal and external auditing of financial statements, etc.
Finance, Banking and Insurance. The module ensures knowledge acquisition in public finance, monetary theory and policy, financial institutions operating, markets and instruments. Competences necessary for performing highly specialized, managerial and analytical jobs in a wide area of finance are developed (in commercial banks, the National Bank of Serbia, state administration, in financial services). The module enables mastering the knowledge necessary for:
     - work on all segments of the financial market,
     - mastery of financial instruments and financial engineering,
     - analysis of financial statements, assessment of economic value and creditworthiness of companies, etc.
Enterprise Management. The module aims to help students acquire knowledge and skills in management theory, management as a process, business process management, corporate management, etc. Acquiring this knowledge enables the acquisition of managerial skills for managing enterprises in the private and public sectors and non-profit organizations. Students develop abilities to:
       - collection, analysis and use of information in the decision-making process,
       - solving complex problems of enterprise management,
       - coordinating business activities and solving crises and conflicts, etc.
Marketing. The module equips students with practical and creative work on developing and implementing marketing strategies and solving marketing problems. The following abilities and skills are developed:
      - ability to manage and think creatively in the business environment,
      - ability to develop and implement business strategies,
      - ability to realize and apply the results of market research,
      - negotiation skills,
      - market communication and creating good relations with the public
International Management. The module develops academic knowledge and competencies in the field of international business. Students are trained to examine the impact of global factors of the international environment on business operations by learning and adopting instruments, techniques and tools for planning, organizing and controlling international business processes. Competences acquired in the module enable knowledge of:
      - the theoretical concept of international trade and internationalization of business,
      - sources and factors of international competitiveness,
      - principles and techniques of currency management in international business,
      - management of international financial risks.
Tourism Management. The module aims to provide knowledge in the field of tourism, as well as economic and non-economic activities that participate in tourism development. Students are trained to perform jobs in tourism's private and public sectors (hotel management, agency business, business associations, tourism management bodies, informative and propaganda activity, pedagogical activity) and complementary activities. The module enables:
       - acquaintance with the geographical foundations and complex regional aspects of tourism in the country   and the world,
       - acquiring knowledge about development processes and decision-making methods and criteria in tourism.

Students who graduate from the study program in Economics obtain the title of economics graduate and earn a higher education diploma of the first degree, 6.2 level.
The knowledge, skills, abilities and attitudes of graduates of the study program in Economics (240 ECTS) manifest in the following:
•    Knowledge - An economics graduate possesses academic or professional knowledge related to theories, principles and processes, including evaluation, critical understanding and application in the field of study and work.
•    Skills -  An economics graduate solves complex problems in learning and/or working in unforeseen situations, applies successful communication skills in interaction and cooperation with others from different social groups and uses equipment, instruments and devices relevant to the field of study and/or work.
•   Skills and Viewpoint - Proactive in solving problems in unpredictable situations. The economics graduate leads medium-complex projects independently and with full responsibility, applies the ethical standards of his profession, and organizes, controls, and trains others to work. Analyzes and evaluates simple concepts, models and principles of theory and practice improving existing practice. The graduate demonstrates a positive mindset towards the importance of permanent learning in personal and professional development.4.1. Опис општих и предметно-специфичних компетенција студената
The general competencies of graduates of the Economics study program are:
- knowledge and understanding of economic facts, concepts, principles, theories and policies;
- identifying cause-and-effect relationships between economic phenomena and scopes to assess the social implications of specific economic activities;
- data collection and selection, data processing using appropriate scientific research methods and procedures, analysis and interpretation of results based on critical and self-critical thinking to improve existing practice;
- developing communication skills, confidence in solving problems, independence and responsibility in work and stimulating teamwork based on the principle of ethics.
Studying theoretical foundations, methodological procedures, and practical experiences in economics and management will enable students to acquire the necessary knowledge and skills to successfully perform highly specialized, managerial and analytical jobs in the private and public sectors. Graduates possess advanced academic and/or professional expertise that can be successfully applied in economics, specifically in public administration, accounting, auditing, finance, banking, insurance, management and marketing. By applying the acquired knowledge and skills, an economics graduate can solve complex economic problems with high independence and responsibility using ethical standards. Furthermore, economics graduates can organize, control and train workers for jobs in all areas of economics and management. Based on the economic theory and practice analysis, the economics graduate can improve existing and contribute to developing new solutions. Academic knowledge provides a sound basis for further training to successfully respond to the challenges of developing economic theory and practice in modern conditions.

Learning outcomes
The competencies of a graduate of the study program in Economics are based on acquiring knowledge about state-of-the-art achievements of economic-theoretical analysis, as well as evaluation, critical understanding and application of that knowledge in the field of study and work. Students will master the necessary skills for solving complex problems in research and work, successful communication and the use of appropriate equipment and instruments.
Modern teaching programs educate economists - experts in enterprising and creative solving of economic problems, modelling and analysing complex economic systems through responsible management of complex projects and analysing and evaluating various concepts, models and principles of theory and practice. The acquired knowledge from the teaching disciplines of this study program represents a quality basis for continuing the permanent learning process with the aim of personal and professional development.
Students who complete their academic studies in Economics will be qualified to perform the following careers:
-     Economist-analyst careers,
-     Economics careers in public enterprises,
-     Careers in analysising and forecasting of macroeconomic trends,
-     Economics careers in state administration bodies,
-     Economics careers in banks,
-     Economics careers in insurance organizations,
-     Economics careers in statistical services,
-     Economic consulting careers,
-     Economics careers in educational organizations,
-     Economist careers in healthcare organizations,
-     Scientific research careers in institutes and faculties,
-     Economics teacher careers.