History

Faculty of Economics in Banja Luka de facto and de jure started its work in the academic year 1975/76 with the enrollment of the first generation, when 250 new students were enrolled. On 30 September 1975 the Council of the Faculty was constituted, and the first Dean of the Faculty was elected. The responsibility and honour of being the first Dean of the Faculty of Economics was awarded to Prof. Jovan Rodić, PhD, who was previously elected to a teaching position at the Faculty of Economics in Sarajevo. It was a responsible and difficult obligation, to establish a faculty without basic material and human resources. There was no space, personnel, financial resources, nothing but enrolled students. But when there are students, responsible professors will work in order to make up for the lack of other conditions in the implementation of the teaching process.

Students of first generations had a tremendous respect for Prof. Jovan Rodić, PhD, and other teachers and associates, because they were aware of the benefits of studying in their city as well as of the correct relationship of teaching and other staff towards students. This relationship is still respected today between teachers and students, which has become, in a way, a code of relations at the Faculty.

University generations

Our Faculty is one of the mid-generation members of the University of Banja Luka. All its members can be divided into three generations, viewed by the year of establishment of some of its higher education organizations. The first generation includes faculties established well before the University itself (Technical Faculty, Teacher Training College, Higher School of Economics and Commerce). The second generation includes faculties established immediately before or after the establishment of the University - in addition to our Faculty, this generation includes the Faculty of Law, Faculty of Mechanical Engineering and Faculty of Medicine. The third generation includes faculties established after 1991.

First phase of development (1975-1991)

The period that began with the establishment, and continued with personnel and material and financial strengthening of the organization, and solving spatial issues. Until the summer semester of 1976/77, the Faculty worked in the premises of the elementary school "Georgi Stojkov-Rakovski", afterwards using the premises of the former College of Economics and Commerce as a tenant. With the closing of that college in 1980, the Faculty became its legal successor and the owner of the building in which we are today.

Second phase - the war period (1991-1995)

This period was characterized by the termination of scientific and professional contacts with faculties of the former SFR Yugoslavia (except Serbia), pronounced fluctuation of students and staff, a material and financial crisis, complete isolation from contemporary scientific trends, and the fact that almost the entire male student population was present in the units of the Republic of Srpska Army rather than in the students' benches. Nevertheless, the teaching process was not interrupted for a single day - exams were regularly held according to schedules known in advance for the entire academic year.

Third phase - post-war recovery

The financial situation of the Faculty improved significantly. The necessary renovation of the building was carried out, two computer classrooms with 120 seats were equipped, and all offices were equipped with personal computers. The Faculty opened up to cooperation with European and American faculties of the same orientation and became involved in the international TEMPUS project. The Institute of Economic Science was registered as a legal entity.

Fourth phase (since 2006)

This phase begins with the adoption of the Law on Higher Education in late 2006, by which the University was established as an integrated institution in accordance with the Bologna process. In 2007 a complete reconstruction of the Faculty building (3,200 m²) was carried out, and in 2008 the fourth floor (1,000 m² of new space) was built, with a panoramic elevator and the "Student's Club". Today the Faculty has 4,054.73 m² of space.

Postgraduate and doctoral studies

Starting from the 1979/80 academic year, when the first generation of future Magisters of Science was enrolled, 1,178 students have been enrolled in 14 Magister postgraduate programmes to date, of whom 320 completed their studies. The first Magister thesis was defended on 23 October 1982 (candidate: Nada Adamović, MSc). The first doctoral dissertation defence took place on 26 December 1986 (first doctoral candidate: Aleksandar Kresojević, MSc). From its foundation until today, 88 candidates have earned their PhD degrees at this Faculty.

Over the past 45 academic years the Faculty has implemented 8 curricula. 167 teachers and assistants have been involved in delivering these curricula - starting with 12 teachers and 5 teaching assistants in the first academic year (1975/76).

International cooperation

Today, the Faculty of Economics has signed agreements on technical and business cooperation with the faculties of economics of the universities in Mostar, East Sarajevo, Tuzla, Zenica, Sarajevo, Belgrade, Niš, Kragujevac, Podgorica, Kosovska Mitrovica, Subotica and Priština, the Polytechnic "Marko Marulić" from Knin, the Business Economics Academy from Čačak, as well as the Associations of Accountants and Auditors of the Republic of Srpska and the Republic of Serbia. The Faculty has also signed Cooperation and Partnership Agreements with ISCTE Business School in Lisbon, the College of Economics and Management - FOM in Essen, and the International College for Business of the University of Applied Sciences Fontys in Venlo.

21,364 students have enrolled at the Faculty so far. Of that number, as of 29 February 2020, 6,142 graduated. 1,130 students are currently studying at the Faculty in all three study cycles.

Achievements and values

• Tradition and modernity - 45 years of existence and successful work.
• A modern curriculum, as well as teaching methods and student assessment, modelled on the highest quality educational institutions of this type in Europe and the world - the Faculty has been a pioneer in implementing the provisions of the Bologna Declaration in the RS and BiH.
• Coverage with the Faculty's own teaching staff at the first cycle of studies is 100%.
• Since the 2010/2011 academic year, 793 students have been enrolled in the one-year master's programme (4+1), where lectures are also held by eminent experts from faculties of economics in Belgrade, Zagreb, Podgorica, Sarajevo, Mostar, East Sarajevo, Bijeljina, Brčko, Niš and Kragujevac.
• Full adherence to the schedule of lectures and exam periods for the entire academic year, published on the Faculty's website and notice board at the start of the year.
• No architectural barriers - a panoramic elevator gives students with disabilities access to amphitheatres and classrooms.
• The journal "Acta Economica" was ranked, in the Ministry of Science and Technology's re-ranking of 31 January 2014, as the first journal in the field of economic sciences in the Republic of Srpska, with the character of a leading scientific journal of national importance.
• The behaviour and relationship between staff and students are regulated by the Code of Conduct for Employees and Students of the Faculty of Economics.
• On 1 November 2010, the President of the Republic of Srpska, Academician Rajko Kuzmanović, PhD, presented the Faculty with its highest award - the Order of Njegoš, 1st Class, on the occasion of 35 years of successful work and existence.