Economy | Faculty of Technical Sciences

Subject: Economy (17.S002A)

Native organizations units: Department of Industrial Engineering and Engineering Management

Type of studies	Title
Undergraduate Academic Studies	Traffic and Transport Engineering (Year: 1, Semester: Winter)

General information:

Category	Academic-general educative
Scientific or art field	Teorijska i primenjena ekonomija
ECTS	3

The most important objective of the course is to educate students to be able to adapt to the demands of the traffic market. A student, a future engineer, acquires the knowledge of economics which is necessary for the successful realization of their aims (within enterprises of different form) during the transitional and post-transitional period in Serbia. The educational objective is conceived in combining the engineering and economic dimensions of traffic engineer`s work in an appropriate manner. It is necessary to consider the fact that the transition processes happen within a larger globalization context, and therefore the educational objective is related to student`s ability to function at a global level. Further on, the educational objective is related to developing the capabilities of traffic engineering students to refresh and renew their knowledge of economics in the future market so as to be able to survive and successfully realize their tasks at the dynamic modern markets.

Practical knowledge of economics which enables a future engineer to apply economic categories in all aspects of traffic and coordinate technical processes with economic demands. Positive outcome is reflected in the development of abilities to perceive the interconnections between the economic and technical aspects of the engineering profession. Economic knowledge here primarily means handling the notions of costs and benefits, cost and profit and assumes also managerial knowledge in relation to modern organizations in traffic and traffic infrastructure. This means that the acquired knowledge in a comprehensive way prepares the students for life in the areas of economics and market.

Characteristics of the traffic market Supply and demand in traffic Price forming in traffic, price of service in traffic Economic dimensions of technology in traffic Costs in traffic, calculating costs and benefits Monopoly/oligopoly in traffic, state and traffic Economic dimensions and organization principles in traffic Forms of enterprise in traffic Modularity as an economic principle in traffic Economic aspects of management, traffic engineer as an entrepreneur Economic dimensions of leadership forms in traffic Manager in traffic as creator of expectations Control of traffic managers Transaction costs in traffic Managerial decisions and transaction costs Network paradigm in traffic Economic aspects of innovation and entrepreneurship in traffic: Schumpeter Transition aspects and traffic Necessity of transition of technological domain in traffic Technological and economic transition in traffic Historical types of privatization and traffic Globalization processes in traffic economy Managerial strategy within the globalization process

Teaching method includes lecture and practice classes and consultations. In the lecture classes the method of dialogue, as well as student participation method, are used. In the practice classes the students practice the acquired knowledge and in consultations they ask questions so that the more difficult problems are explained in mutual interaction and students are able to concentrate on the topics which are most relevant for their interest.