Globalization and Financial Management

The goal of the subject is to familiarize students with the process of globalization of world economies and business conditions that business entities in modern times are faced with, and to understand the basic characteristics of the modern development trends in economic and monetary sphere. There is the tendency to understand the impact of the development of world economy on Bosnia and Herzegovina and the Republic of Srpska, as well as to become familiar with the principles of international financial management.

Students are trained to perform the business operations in the modern conditions of globalization and changes that are occurring in the global economy, such as the development of modern technologies and financial and economic crises. The students get a clear idea of the content, significance and functionality of education in financial management, globalization and modern trends in the global economy, monetary policy, international monetary system, international currency markets and the impact of world economy on Bosnia and Herzegovina and the Republic of Srpska, in order to obtain best possible results in the course of their future work engagements. The students are trained for engaging in international business arrangements, working for international organizations and major international companies and for carrying out significant state, political and economic responsibilities.

Contemporary trends in the global economy; Main characteristics of the contemporary global economic order; Bretton Woods International Monetary System; Contemporary international monetary system; Regional monetary cooperation; European Economic and Monetary Union; Euro – the current position and prospects; Globalization of the world economy; Characteristics of the globalization process and its effects; The role of financial markets in the globalization process; Position of enterprises in globalization; The world economy and Bosnia and Herzegovina; Characteristics of world economic growth: growth, structure, unemployment and megatrends; International financial management; Analysis of conditions in international financial market; Determinants of changes in the exchange rates.

Lectures, discussions, seminar papers, case studies and consultations. Independent research and analysis of the experiences of developed countries, international organizations, multinational companies, institutions in the field of monetary and economic policy. Writing a pre-exam paper from the studied field. Visits to national and international institutions specialized in the topics listed in the contents of the subject and writing papers based on the independent research work.

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)

Mikerević, D. (2011). International Financial and Currency Markets. Banja Luka: Faculty of Economics, University of Banja Luka and Finrar; Jovanović Gavrilović, P. (2010). International Business Financing. Belgrade: Faculty of Economics; Huntington, S. (2000). The Clash of Civilizations and the Remaking of World Order. Podgorica: CID.