Globalization and Transition Processes

The goal of the subject is to provide students with the necessary knowledge in the field of globalization of the world economy and transition processes through which the countries of Central and Eastern Europe are passing. Globalization as a new view of the world takes on increasing connectivity, integration and interdependence of countries in economic, social, technological, political and cultural terms. The economic dimension of globalization makes intensive process of integration of trade and financial flows and somewhat slower process of integration of the labor market. Globalization has contributed to the progress of many countries and people that live far better than before. Unfortunately, for many developing countries, globalization has not brought the expected economic benefits. The transition of Central and Eastern Europe countries towards a market economy and democratic society is a part of the global processes. When the transition started in the early nineties of the last century, it brought big challenges and hopes; however, high expectations and hopes of a quick economic boom let down the majority of countries in transition.

Familiarization with global trends in the world economy allows students to gain knowledge that will enable easier and faster integration into the modern world trends for them. It is essential for young people to learn about contemporary international economic trends and to recognize in their future activities the true path that leads them to success.

Key thematic areas that this subject includes are: the concept and dimensions of globalization; globalization of commodity and financial flows and labor markets; the impact of globalization on the development of developing countries; globalization – arguments for and arguments against; transition of Central and Eastern Europe countries - roads and results; experiences of transition of the People's Republic of China and India.

Lectures, exercises, discussions, seminar papers, case studies and consultations. During the lectures the numerous questions and problems in the field of globalization of the world economy and the transition process will be analyzed, with the active role of students to freely express their views and opinions..

Continuous evaluation of knowledge through testing, presentations of seminar papers and oral exam. Colloquium I (0-20 points); Colloquium II (0-20 points); Final exam (0-50 points); Attendance (2point); Class activities (seminar papers, discussions, case studies) (0-8 points)

Stiglitz, E. J. (2004). The contradictions of globalization. Belgrade: SMB-x; Steger, B. M. (2007). Globalization. Sarajevo: Šahinpašić; Giddens, A. (2009). Europe in the global age. Belgrade: Clio; Mohamad, M. (2002). Globalization and the New Realities. Sarajevo: Ljiljan; Pelević, B.; Vučković, V. (2008). International Economics. Belgrade: Faculty of Economics; Cerović, B. (2010). Transition - ideas and achievements. Belgrade: Faculty of Economics; Žarković, V. (2012). Privatization in the Central and Eastern Europe. Banja Luka: Faculty of Economics, University of Banja Luka.