Six Decades of Experience, Youth and Knowledge
The Faculty of Economics in Titograd was founded in 1960, by Decision of the National Assembly of the Republic of Montenegro, passed on May 31st. Fourteen years later, it participated in foundation of the University "Veljko Vlahović", in April 1974, making it not only a member but also a founder. We talked with the Dean, Nikola Milovic, PhD, about development of the first faculty in Montenegro and its role in modern Montenegrin society.
UMNE: The Faculty of Economics of the University of Montenegro celebrates 60 years of its existence. How do you assess its role in developing higher education system in Montenegro, but also its overall social role?
DEAN MILOVIĆ: It is generally accepted that knowledge is a condition for success of a society, and that based on the availability of knowledge and the manner of its application, society can be divided into developed and underdeveloped. We are proud of the fact that for a full six decades, the Faculty of Economics has been contributing to the development of modern Montenegrin society and our country by investing in intellectual capital. Education and values acquired here had been guiding many generations of economists, the greatest Montenegrin statesmen and businessmen, and they were passed on to them by academics, rectors, professors and associates of the Faculty.
The place of the Faculty of Economics in social structures is evidenced by the fact that the first dean, Mirceta Djurovic, PhD, was the first rector of the University of Montenegro and president of the Montenegrin Academy of Sciences and Arts, and that two other professors of this Faculty were also rectors of the University of Montenegro. Numerous awards have been recorded in its rich history, among which a special place belongs to the prestigious Oktoih award.
During 60 years of hard work and exceptional results, supported by the fact that more than 12.000 students graduated from the Faculty of Economics, this institution has retained a prestigious place in the higher education system and made a significant contribution to creating an environment for Montenegrin economy. We are deeply convinced that, with the exceptional support of state institutions and our partners, we will continue to educate generations of dedicated and successful young people who will become one of key resources and comparative advantage of our state.
UMNE: Thanks to which fundamental principles did the faculty manage to achieve such a long and successful tradition? DEAN MILOVIĆ: For all these decades, the idea that has been built into foundations of the Faculty is the acquisition of quality theoretical and practical knowledge in the field of economics. Among fundamental principles as basis for a successful development of the Faculty is monitoring changes in society and environment, and constant innovation of curricula in accordance with needs of economics and achievements in its development. Thus, the process of building curricula went through as many as eight development phases, which is the reason why today the Faculty of Economics is a modern higher education institution with study programs created according to model of the most developed European and world educational institutions. Highly qualified teaching staff is engaged at all levels of studies at the Faculty of Economics and transfers knowledge to new generations, respecting the high standards of the modern teaching process. In addition, having in mind developed network of partner institutions from the public and private sector, as well as the process of obtaining international accreditation, the Faculty of Economics maintains the position of a leader in the education of economists and managers in Montenegro.
UMNE: Which aspect of educational experience at the Faculty of Economics do you think is the most attractive for future students who want to enroll? DEAN MILOVIĆ: Since foundation of the Faculty of Economics until today, more than 12.000 students have obtained a bachelor's degree, slightly more than 1.200 postgraduate master's degrees, and 763 of them have obtained a postgraduate specialist applied studies degree. In its rich history, the Faculty of Economics has produced 100 doctors of science. These are data we proudly point out, and we are even more pleased with the interest of new generations to study at our faculty, being certain grounds for the future of Montenegro and national economy, which needs young, educated and professional economists and managers. Educating the future of Montenegro, our goal is to transfer knowledge with useful value in the economic environment. Modern teaching processes that affirm the combination of theoretical knowledge and practice acquired in the business environment is a characteristic by which we are recognizable in the system of higher education in Montenegro.
In addition, the Faculty of Economics has established a good practice of organizing various activities with leading lecturers from the region and the world. On the eve of the 60th anniversary of its founding, we recorded the first visit of Nobel Prize winner for economics, Norwegian economist Finn Kidland, and the study year that began with this historic lecture ended with a lecture by world-renowned and recognized analyst of international political economy and author of the bestseller The End of History and the Last man, Professor Francis Fukuyama. During the previous three years alone, more than 70 guest lecturers were held at the Faculty of Economics, the aim of which is to provide students with additional knowledge and enable the acquisition of skills necessary for the growth and development of personal and professional competencies.
UMNE: Is cooperation with business environment and public sector a factor that you consider important for further development of the Faculty of Economics?
DEAN MILOVIĆ: Close cooperation with domestic economy and public sector is a great space for achieving synergetic effects of all stakeholders - students gain practical knowledge, which encourages entrepreneurship and innovation, businesses get appropriate professional staff, the faculty improves its curricula in accordance with modern needs of knowledge society and economics.
We are continuously expanding our network of contacts with representatives of public sector, the business community and professional associations in order to shape better profile of the future economist. Highest representatives of the Government of Montenegro, local governments, state-owned companies, businessmen, representatives of professional associations and non-governmental organizations participate in events and thematic lectures at the Faculty of Economics, thus introducing students to the challenges of their future profession. An important segment of this cooperation is the professional student internship in partner institutions, thanks to which more and more of our students acquire useful knowledge and skills that enable them a better starting position on the labor market.
UMNE: What are priorities of the Faculty of Economics in order to improve quality of studies and its position on the international map of educational institutions?
DEAN MILOVIĆ: In an effort to keep pace with the time, needs and requirements of the labor market, the priority directions of our activities in the coming period concern the internationalization of the Faculty and international accreditation, launching and implementing a study program in English, and strengthening the recognition of the Faculty of Economics in the European Research Area. . We especially want to strengthen the internationalization and the overall quality of the offer of the Faculty of Economics through international accreditation. In this way, the Faculty of Economics became the first unit within the University of Montenegro to begin a process aimed at systemically ensuring the quality of higher education. Launching a study program in English, as one of the most important goals, will be realized through connecting related study programs in order to launch interdisciplinary studies, as well as launching joint study programs with strategic partners from abroad. In the previous period, we successfully implemented a dual degree program with the partner Sophia Antipolis University in Nice (France), and an agreement was signed on the implementation of a dual degree program with the University of Belgrade and the London School of Economics in London. We strive to increase the recognition of the Faculty of Economics in the European research process through the implementation of international projects and programs within international cooperation, and to that end we have signed memoranda of cooperation with more than 40 higher education institutions in the region, Europe and the world.
UMNE: How will this date be celebrated, which is important not only for the Faculty of Economics but also for the higher education system in our country?
DEAN MILOVIĆ: Unfortunately, due to circumstances brought by the pandemic caused by the Covid 19 virus, in order to preserve health and maintain a favorable epidemiological situation in Montenegro, we decided to postpone the Ceremonial Academy on the occasion of the 60th anniversary of the Faculty of Economics. It will be an opportunity to remember the most important personalities and events from the rich history of the Faculty of Economics accompanied by representatives of the state, diplomatic corps, business partners, professors, associates and students who, each in their own way contributed to our every step!