Principles of economics | Faculty of Technical Sciences

Subject: Principles of economics (17.IM1004)

Native organizations units: Department of Industrial Engineering and Engineering Management, Chair of Social Studies and Arts

Type of studies	Title
Undergraduate Academic Studies	Information Engineering (Year: 3, Semester: Summer)

General information:

Category	Academic-general educative
Scientific or art field	Teorijska i primenjena ekonomija Proizvodni i uslužni sistemi, organizacija i menadžment
ECTS	4

The most important educational goal is to enable the students to adapt to the new socio-economic processes. The students (the next engineer) appropriate the forms of economic knowledge that are indispensable for the realizing of the different purposes in the firms during the transition and post-transition in Serbia. The educational goal is that the engineer is enabled to combine the technical and economic dimensions of her work.

The appropriation of the practical knowledge that enables the engineer to apply the economic categories in different areas of life and to combine the technical and other processes with the economic criterion. The consequence of the education is reflects in capacities to arrange situations based on economic rationality.

The relationships between supply and demand. Costs, forms of costs. Structure of market. The elements of the treatment of monopolistic structures. Forms of prices and the principles of the forming of prices. Profit. Technology in the economic perspective. Technology and innovation. Analysis of the economic aspects of hierarchy in firms. Forms of firms. Manager as the creator of the expectation in the firm. Economics of idiosyncrasy. Transaction costs and innovativeness in firm.Economic aspects of innovation.

The lectures are based on the combination of the relevant theoretical and practical knowledge. The emphasis is put on the applicative-technical aspects of economizing that includes concrete case studies and treating of the concrete situations selected from the contemporary economies. The students will be enabled to understand the tendencies and laws of market economy and to apply this type of knowledge.

Authors	Title	Year	Publisher	Language
Perez, Carlota	Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages	2002	Cheltenham, Elgar	English
Carlota Perez	Paradigm Shifts and Socio-Institutional Change, Economic Development and Inequality	2004	Edward Elgar, Cheltenham, UK	English
Prencipe, Andrea	The Business of Systems Integration	2005	Oxford: Oxford University Press	English