Popović: A university progresses when it is led by scientific thought and shaped by the spirit of art
As we approach the 50th anniversary of the University of Montenegro, we reflect on the foundations upon which the UCG we know today was built, revitalizing memories of the efforts of its founders, and taking a deep look at the rich history and legacy of this institution. In this process, it is essential to also focus on the oldest higher education institution in Montenegro, the Faculty of Economics in Podgorica. The Faculty of Economics was established in 1960 by a decision of the Peoples Assembly of the Republic of Montenegro, passed on May 31, and was initially part of the University of Belgrade. After the establishment of the "Veljko Vlahović" University in April 1974, the Faculty, as one of the founders, became a member of it.
Over more than six decades, many figures from the political and public life of the country have been educated at the Faculty of Economics in Podgorica, while a certain number of its students have decided to continue their career path at this faculty. Among the distinguished professors who themselves studied at the Faculty of Economics in Podgorica, and then continued to pass on their knowledge to younger generations and invest it in the further progress of this educational institution, we highlight Prof. Dr. Saša Popović, a full professor.
Popović graduated from the Faculty of Economics in Podgorica in 1991. He completed his masters degree at the Faculty of Economics of the University of Belgrade in 1996, on the topic "Mathematical-Statistical Models for Analyzing Stock Transactions." He earned his Ph.D. from the University of Montenegro in 1999 with a dissertation entitled "Portfolio Analysis - Quantitative Aspects of Investing in Securities."
Since 1992, he has been permanently employed at the Faculty of Economics in Podgorica. He teaches at the undergraduate, masters, and doctoral levels of the faculty. His main area of expertise is finance. He teaches Financial Management, Portfolio Management, Stock Market Analysis, and Corporate Finance II. From 2016, he served as the Vice Dean for International Cooperation at the Faculty of Economics. From 2011 to 2018, he was the president of the Association of Economists of Montenegro.
He has received several scholarships, including the prestigious Fulbright scholarship (Columbia University, New York, 2001-02). He has collaborated with significant institutions, including Cohig & Associates, Denver, CO, USA (1995) and Lazard Asset Management, New York, NY, USA (2002). He is an associate member of the World Academy of Art and Science (WAAS).
He transfers his rich academic and professional experience to his students, encourages them to have an open mind, and inspires them to reach great professional heights in their future careers.
What role has the University of Montenegro played in your life and professional development?
PROF. DR. POPOVIĆ: The university has been the gravitational center of our intellectual aspirations, a space where we affirm and realize ourselves, a frame for the portrait of personal abilities, and much more. Ever since I was drawn to the University of Montenegro, I have been continuously connected to it. Initially through my studies, and later through my employment. Undoubtedly, my long association with this institution has played a significant role in my life.
After completing my studies, I had the opportunity to work with students, which continues to give me great satisfaction. I also had the chance to advance in my career through my work, to validate my research at numerous international conferences, and similar activities. In an intangible sense, I gained a sense of belonging to the academic community, which creates a feeling of fulfillment.
I received even more from the university than it offers by itself, which was realized through stays and advancements at foreign universities, such as Birkbeck College in London, Columbia University in New York, and others. Thanks to international student and teacher mobility programs, I have lectured at universities in several countries: France, Poland, Greece, Russia, Slovakia, Czech Republic, Romania, Bulgaria, and many others. Although hard work is a given during an academic career, the opportunities that the university can open are significant. In return, I have dedicated myself entirely to the university in a professional sense.
How much has the University inspired and directed you towards further goals?
PROF. DR. POPOVIĆ: I find true inspiration in the very nature of the university as an institution. This character is best explained by the etymology of the word "university." In the words universus and sveučilište, although of different roots, the same meaning is contained – the wholeness of knowledge, i.e., the need to explain the world and nature with a comprehensive approach. And if we were to play with words, we would get some interesting associations, for example, uni ver in Spanish means "one spring," uni vers in French means "one line," and uni versus in Latin means "one line." This raises associative questions: Can the scientific method truly bring spring to human and societal well-being? Are both a song and a scientific experiment the same challenge to the world? Do all sciences write with the same pen, along the same epistemological line? and so on.
Sciences are not the Truth, they are only truthful. Only through a multi and transdisciplinary approach to scientific problems can we step closer to the universal, the One. In this intertwinement of natural, social, humanistic, and artistic approaches to the world, I see great inspiration. Economists, for example, can learn from biologists how a plant optimizes its metabolism and survives in water-scarce conditions. From musicians, they can learn how changing just one tone in a chord changes a major to a minor and thus better understand how market sentiment indicators change. There is no big difference between the statics of a building structure and the principles of financial stability in a balance sheet. Juhani Palasmaa, a Finnish professor and architect says that architecture should be seen "with the eyes of the skin," to experience it with all the senses. Physicists would probably say that the opposite sides of the world are not east and west or north and south, but macro and micro. This way, we come to a richer understanding of the problems we study and more strongly stimulate creative impulses in us and our students.
What is the significance of the Faculty of Economics for Montenegrin society? How much have professors, students, and other staff contributed to the development of the economy and business in Montenegro over history?
PROF. DR. POPOVIĆ: At the Faculty of Economics, we have always proudly highlighted a detail from our institution’s biography – we are one of the founders of the University of Montenegro. Therefore, we have undeniable authorship in establishing scientific research infrastructure in Montenegro. For many years, we were the only higher education institution that educated economists at all three levels of study. Even today, we hold the most esteemed diploma in Montenegro in the fields of economics and business. Moreover, a large number of personalities from the countrys political and public life have been educated at our faculty. This is an institution that justifies its existence both in the education market and the knowledge market. We initiate development initiatives that increase the supply and quality of educational services and research projects. We are an open platform for public discussions on current issues in social and economic life.
How much has the Faculty of Economics developed and transformed since the time you were a student?
PROF. DR. POPOVIĆ: Today, it is a completely different institution compared to when I was a student. First, the social circumstances have changed, which also influenced the transformation of our institution—from one socio-economic system to another, privatization, technical progress, the information revolution, the internet, and much more.
At the faculty level, the changes include modernized working conditions, updated curricula, increased participation of young people in teaching and research who successfully fulfill their scientific research and pedagogical duties, speak foreign languages, and have international experience. We have strengthened ties with the economy and increased the level of internationalization of the faculty.
Earlier, students felt a stronger sense of belonging to their faculty rather than the university, probably due to the closeness to the institution where they spent their time. Or, perhaps because for a long time during Montenegro’s higher education history, there was only one—the state university. However, things have changed. Now, it is clear that what gives spirit, character, and quality to the entire system of higher education institutions is the distinctiveness of the university they belong to. Therefore, it is not surprising that the identity of students and teachers is mostly built on the identity of the university worldwide.
In your academic work, you have also dealt with a green approach to economics. How do you transfer these valuable findings to students and guide them towards a green economy?
PROF. DR. POPOVIĆ: Knowledge must be transmitted in an attractive way: scientifically grounded, intellectually provocative, critically illuminated, research-updated, and dialectically analyzed. In addition to all this, the charisma of the lecturer and an open mind of the students are necessary. I think the most important thing is to free students from the shame of ignorance. Young people should be allowed to make mistakes without feeling guilty, as this feeling blocks openness to new knowledge.
The need to achieve green development through the educational process could be better explained with a play on words, so instead of higher education for a green economy, say green education for a high economy. These are developmental trends imposed by previous mistakes in understanding economic development, ways of conducting economic activity, and the effects of technological progress.
I try to point out that a change in the developmental paradigm is necessary, based on the premise that resources are limited. Its not just that resources are limited, but also our ability to manage them effectively. Ill joke, because there is a little truth in every joke, and say: Let’s adopt artificial intelligence sooner, before this natural one destroys both us and nature. Often, when I talk about the green economy, I say: Look at the way your ancestors used resources, and you will understand what a green economy is. We must clearly point out that serial and mass industrial production have detached the producer from nature and made him a polluter.
As a former Vice Dean for International Cooperation at the Faculty of Economics, how do you evaluate the importance of mobility for the Faculty of Economics?
PROF. DR. POPOVIĆ: During that period, we doubled the mobility of students and teachers at our faculty. On the other hand, there was an increased interest of foreign students and teachers in coming to our faculty. I was particularly pleased when our students passed the exams at foreign faculties and when I noticed that they returned richer for new experiences and friendships. It often happened that they noticed the same shortcomings we have at other universities. After that, they are more cautious in drawing conclusions, becoming more tolerant of the different and the unknown. These are the less noticeable elements of academic mobility, but more significant for personal development and socialization than a grade on an exam. I believe that our new study program, which is entirely conducted in English, will contribute even more to the internationalization of the Faculty of Economics and the University.
What would you say to the University for its 50th birthday? What advice for the future would you give?
PROF. DR. POPOVIĆ: The University of Montenegro is in its serious years—serious in terms of its maturity and in terms of the demands that the new era imposes on it. Like a person, it is at an age when thoughts are synthesized, and experiences are valued. Accordingly, the recommendation is to establish a firm and reliable ethical code, care about academic integrity, continue with the enhancement of scientific research activities, with the introduction of modern pedagogical practices, and thereby contribute to a more prosperous future for Montenegro. The university, like society, progresses if it is led by scientific thought and shaped by the spirit of art!