Ekonomika, Journal for Economic Theory and Practice and Social Issuses

10-20

Authors: Mirko Savic Ph.D, Jovan Zubovic Ph.D, Danica Drakulic Ph.D

In recent decades there is constant growth of female enrolment in the higher education in Europe, but it is generally observed that such trend is not reflected in the labour market. The goal of this paper is to present the Absorption Index (AI) as an indicator for dynamic comparison of female participation in tertiary education and their later participation in work force. The main purpose for introducing this indicator is to identify the countries with successful labour markets when it comes to the employment of women with tertiary education. The general conclusion is that the growth of female students is faster than employment growth and as a consequence there is increasing number of unemployed female with tertiary education in the labour market. Key words: Female Tertiary Education, Employment, Absorption Index

28-40

Authors: Dragan Mihajlović Ph.D, Biljana Ilić MSc, Jovan Vetović

The paper is an attempt to highlight the importance of the period after 1950, which contributed to the strong economic and commercial development of the country, the former Yugoslavia, and within it, Republic of Serbia. The characteristic of that period, by the aspects of manager positions are that leaders in that period have managers realistic plans, a clear vision, human and social approach to employees, permanent control of the achiving of approved plans, as well as a sense of entrepreneurship. Purpose of the paper is not only a systematic view of a successful period, but also pointing to the importance of successful management of a system, which is translated into a new and higher system. Considering the fact that modern society is characterized by high complexity, turbulence, dynamism and rapid changes, the main objective of this paper is to point out the fact that such an experience can serve as a tool for economic development of a society in the present circumstances. Keywords: economic development, business development, plans, vision, experience.

50-59

Authors: Slavko Bozilovic Ph.D, Vuk Miletic MSc

To achieve a high level of business efficiency at construction companies is a great challenge of modern managenebt, which implies high level of performances and results compared tothe competition, and also in comparison with the best in their branch - grupation. This means showing the long-term trend of improvement, breakthroughs and innovations in all aspects of the business, the existence and application of TQM techniques and activities. Creating the product of high level quality in increasingly demanding market is a necessary precondition for construction company survival, whereby it is important to increase the pressure on control of quality cost, and business operations with continuous monitoring of changes in an environment and the demand for their products. In this context, the quality in construction business viewed from the aspect of quality of object which is manifesting in their functionality, in economical aspect, also aesthetically, energy efficiency and security. Quality is especially considering in relation to level of satisfaction of all participants in the construction - the customer, investor, contractor and end-user facilities. Key words: quality management, construction companies, quality, environment, world-class production.

83-89

Authors: Petar Veselinovic Ph.D, Borivoje Rosic MSc, Marija Stojanovic

In the second half of the twentieth century, there was a strong development of science, as well as the advance and spreading of technology, which have been recognized as key factors in determining the power and competitiveness of the national economy. One of the main reasons of certain countries coming to their wealth is the level of development of technology. The sole development of sci-ence and technology is not enough, but the development of a country depends on the socio - economic system, on its size, on the level of economic development, and on its capabilities to include a larger or smaller number of people in the field of scientific research and development process, as well as on the investments in those fields. Knowledge and modern technology are key factors of competitiveness of the economy to international markets and the increase of exports of technology products and services in international trade. Investments in human capital and technology contribute to economic growth and are a significant factor for innovation - driven national economy. Keywords: competition, intellectual capital, innovation, education, knowledge management

94-98

Authors: Ljubisa Stojimirovic Ph.D, Aleksandra Stojkovic MSc, Tomislav Nikolic MSc

It is common for political parties and certain individuals that during the election campaign they try to use a negative campaign in order to achieve a certain advantage over their rivals. What are the effects of such campaigns, whether they are successful or even counter-productive. The authors of these paper present specified case in order to show the result of such a campaign. Key words: campaigns, political marketing, parties, the media, voters...

107-116

Authors: Jovica Markovic Ph.D, Jovana Mutibaric MSc, Marko Caric Ph.D

Until the early 1920s, the classical theory of price included two main models, perfect competition and monopoly. However, E. Chamberlin and J. Robinson introduced a new theory of monopolistic competition in 1933. At the time of global economic crisis, when only the most powerful companies survive, the model of monopolistic competition is hardly sustainable. In fact, the most widespread market model in highly developed world economies has been replaced by monopoly. Supply reduction due to the bankruptcy of many companies, combined with demand decline as a result of the austerity measures, and on the other hand growing need for higher budget inflows, lead to the price hikes in all industries. All mentioned result lead to an extreme market model – the monopoly; even in countries that were known as market economies and by its monopolistic competition. Furthermore, it is well known that employment level is lower in economies that are not competitive. That fact additionally contributes to conclusion that the sustainability of the monopolistic competition is almost impossible during the crisis, considering that we have witnessed high unemployment rates in some EU countries (e.g. Spain, Greece, Italy, Portugal and Ireland). The subject of this paper is to explore sustainability of the market model of monopolistic competition in conditions of the global economic crisis, transitional economies and the reform, under which is a public sector of the Republic of Serbia. The aim of the paper is to determine are there any opportunities for the survival of the mentioned market model in terms of re-industrialization, which is inevitable companion of globalization. Key words: monopolistic competition, global economic crisis

126-139

Authors: Nebojša Gijić Ph.D , Bojan Zdravković MSc, Adriana Jović – Bogdanović MSc

Global companies are strongly pressed by the need to simultaneously and equally efficiently manage globally, since the whole world for them is a single market, and locally, due to the fact that the world market makes a number of different and poorly connected markets. The global market today is extremely open and competitive and applicable to the entire world, in the presence of a large number of market operators. The goals and directions of globalization ( and its "conductors" embodied in the powerful multinationals and high-profit industries, such as military, cosmetic, pharmaceutical, etc. ), are increasingly turning to the demolition of the existing state borders and national, customs and trade barriers. And it is, and being an axiom of modern global business. Keywords: market, large cities, globalization, management, companies

148-157

Authors: Radovan Damnjanović Ph.D, Milan Mihajlović MSc

The research performed in this paper refers to the model that would be used to analyze the effects of the implementation of Planning, Programming, Budgeting and Execution Process (PPBE) on the budget of the Republic of Serbia defence system. The aim of this model is to overcome certain shortcomings of budgeting of the Ministry of Defence by using multicriteria optimization methods during allocation of financial resourcestoprogrammes, projects and activities. The purpose of the model is to facilitate the decision- making process, solving a certain problem – in this case the problem of optimal allocation of financial resources approved by the budget of the Ministry of Defence, with the best possible effects. It enablesstudy, analysis and evaluation of certain situations which would otherwise be difficult or impossible to investigate. In a specifically defined environment, while recognizing international experiences in implementation of PPBE, the model is actually a methodology for solving the abovementioned problem. It may be defined as a process for creating a model of an actual system and conducting experiments, which enables understanding of the system behavior and/or evaluation of different strategies for system functioning. Key words: allocation of financial resources, budgeting, PPBE, multicriteria optimization.

167-173

Authors: Milan Petković MSc, Svetislav Stanković Ph.D

Free trade and protection of competition on the market do little to benefit a large number of people a monopolized market provides a great benefit a few individuals. Without competition there is no free market. While in terms of general social interest competition is usually a desirable phenomenon in the market, from the point of view of the individual undertaking it is undesirable evil, because it forces them to work harder, and at the same time it reduces the profit. Key words: competition law, anti-trust policy, The Competition Commission

182-191

Authors: Jelena Ilic Cvetkovic MSc

In this dissertation, we aim to clarify the concept of calculating risk and return portfolio. Possible outcomes of the investment are usually distinguished from permanent investors' expectations, and it is very important to have a complete picture of the observed variables. The level of the average deviation from the expected yield potential is really important in making the decision on entry into a particular investment because it determines the amount of surprises that may arise from these investments. The yield of the company achieves or does not achieve, depending on the success of a combination of many factors . The starting idea of previous expenditure generated over at least return rate of time preference values for the abandonment of potentially favorable alternative uses in real life, manifests itself as a theoretical construct that accepts that there is the risk-free investment yield for which the risk is zero , and that the minimum return to the investor still counting . However , the problem is that all investors are the same. There are investors who still think of the risk-free rate and investors who do not think about the risk but only on yield and the best yield alternatives. Of course , in any case the risk is an unavoidable component that expects investors . An investor who prefers high- risk class is always exposed to the danger that the result will not make any refund nominal investment, nor any yield.. Keywords : Identification of yield, average yield , recovery , recovery time , return rate , the discount rate

201-207

Authors: Perica Jankovic MSc

The financial crisis is a result of irresponsible business policy of the relevant state institutions for the financial market control (the US Federal Reserve and the US Security and Exchange Commission) and the lack of competence of rating agencies, as well as fundamental weaknesses that have existed for years in the area of financial control and regulation in the United States. The mentioned weaknesses originate in the idea of unlimited liberalization of financial markets, with minimal regulation and weak business control of the investment banks and funds. Key words: regulatory bodies, rating agencies, hypothecary crisis.