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Faculty of Economics

Prior to organising the university education of economists in Banja Luka, the College of Economics and Commerce had operated in the city, established in 1960, with 189 first-generation students. It had three departments: production, commerce and bookkeeping and finance. Likewise, the first traces of university education of economists in Banja Luka date back to 1972, when the Centre for Marxist Education and Political Studies “Veselin Masleša” from Banja Luka prepared a study on the need to establish the Faculty of Economics. The predecessor of today’s Faculty was the Department of the Faculty of Economics in Sarajevo, established in Banja Luka on 1 November 1974. Namely, the first lectures for 169 enrolled students began there, 100 of whom passed all exams from the first academic year to October 1975. The Faculty of Economics of the University of Banja Luka was established on 6 February 1975 by the decision of the Municipal Assembly of Banja Luka issued at the joint session of the Council of Associated Labour, Social and Political Council and the Council of Local Communities. The Faculty of Economics in Banja Luka started operating after enrolling the first generation of students in the academic year 1975-76, when 250 new students were admitted. The Faculty Council was constituted on 30 September 1975.

The Faculty operated at the premises of “Georgi Stojkov Rakovski“ Primary School until the summer term of the academic year 1976-77, and thereafter used part of the premises of the then College of Economics and Commerce, as a tenant. When this college closed at the end of August 1981, the Faculty became the one and only user of this building, in which it has been located up to date. The Faculty of Economics started operating with three professors and four teaching assistants in the academic year 1975-76, and after a constant staff development every year it can now almost fully cover the teaching process in undergraduate studies with its own staff.

Prior to organising the university education of economists in Banja Luka, the College of Economics and Commerce had operated in the city, established in 1960, with 189 first-generation students. It had three departments: production, commerce and bookkeeping and finance. Likewise, the first traces of university education of economists in Banja Luka date back to 1972, when the Centre for Marxist Education and Political Studies “Veselin Masleša” from Banja Luka prepared a study on the need to establish the Faculty of Economics. The predecessor of today’s Faculty was the Department of the Faculty of Economics in Sarajevo, established in Banja Luka on 1 November 1974. Namely, the first lectures for 169 enrolled students began there, 100 of whom passed all exams from the first academic year to October 1975. The Faculty of Economics of the University of Banja Luka was established on 6 February 1975 by the decision of the Municipal Assembly of Banja Luka issued at the joint session of the Council of Associated Labour, Social and Political Council and the Council of Local Communities. The Faculty of Economics in Banja Luka started operating after enrolling the first generation of students in the academic year 1975-76, when 250 new students were admitted. The Faculty Council was constituted on 30 September 1975.

The Faculty operated at the premises of “Georgi Stojkov Rakovski“ Primary School until the summer term of the academic year 1976-77, and thereafter used part of the premises of the then College of Economics and Commerce, as a tenant. When this college closed at the end of August 1981, the Faculty became the one and only user of this building, in which it has been located up to date. The Faculty of Economics started operating with three professors and four teaching assistants in the academic year 1975-76, and after a constant staff development every year it can now almost fully cover the teaching process in undergraduate studies with its own staff.

The conditions in which the Faculty has existed and survived suggested that experts should be educated in the field of contemporary business, such as: management, entrepreneurship, banking, marketing, accounting, auditing, business finance, insurance, human resources, business informatics, international economics, etc. The Faculty also provided the necessary knowledge for scientific research in different fields of contemporary economics. Over the 45 academic years, the Faculty has continuously innovated the curricula in line with the development of theory and practice in the field of economics. The Faculty of Economics would introduce each next higher level of education into the process only after a reliable assessment was made that it had its own scientific staff, that was able to meet the demanding level of postgraduate studies and writing of master’s theses and doctoral dissertations in the field of economic sciences. As of 1975, the teaching process has been carried out according to the curricula that have been continuously innovated and presented in detail in previous monographs and on the website of the Faculty of Economics. In the academic year 1979-80, the first generation of students enrolled in postgraduate studies. The studies were conducted in the field of organisation and management, export marketing, financial management, transition and reconstruction of the economy, the global economy and the European Union.

As for the undergraduate studies, the teaching process was carried out under the Law on Universities until the academic year 2007-08. Since then, it has been conducted under the Law on Higher Education. Classes are taught in accordance with the curriculum that is completely based on the adopted principles of the Bologna Declaration, thus opening a new page in the history of education at the Faculty of Economics, University of Banja Luka. As of the academic year 2014-15, classes in the first-cycle studies have been taught within the new study programme – Economics and Business Management, where the first three years are common, and students have the opportunity to choose one of five majors when enrolling in the fourth year of study. Classes in the first-cycle studies have been conducted since the academic year 2018-19 within the Business Informatics Study Programme.

Classes in the postgraduate studies were taught under the Law on Universities from 1979 to the academic year 2009-10. Students enrolled until that year take exams and work on their master’s theses in accordance with the conditions and rules of study under the Law on Universities. As for the second-cycle studies, the classes have been conducted since the academic year 2010-11 within the Economics Study Programme. There are also other study programmes: Finance, Banking and Insurance, Finance and Audit of the Public Sector, International Economics, Business Economics and Actuarial Science, as well as Cultural Heritage and Cultural Tourism Management, and Tourism and Hotel Management. Students who complete their second-cycle studies are awarded the academic title of Master of Economics.

As of the academic year 2014-15, classes at the second-cycle studies have been taught within the MBA (Master of Business Administration) Study Programme, fully tailored in accordance with global trends in education, and regional and global labour market needs. These are one-year studies in English, created in accordance with the international curriculum, in cooperation with renowned professors from partner universities: Ancona (Italy), Kingston, Stirling, Richmond, Edinburg (Great Britain), Vienna University of Economics and Business WU (Austria).

Classes in the third-cycle studies started as of 2015-16, within the Economics Study Programme.

Phone +387 51 430 010
Fax +387 51 430 053 
Website www.ef.unibl.org
Email info@ef.unibl.org
Address 4 Majke Jugovića, Banja Luka, 78000
Dean Dr. Milenko Krajišnik, Associate Professor
Vice-Dean for Teaching Dr. Dragan Gligorić, Associate Professor
Vice-Dean for Science, Research and International Cooperation Dr. Goran Popović, Full Professor

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