Macroeconomics Department

The mission of the Macroeconomics Department is to foster scientific excellence through the development and application of modern macroeconomic methods and models. Through its research, the Department seeks to contribute to the scientific community, strengthening the Institute’s reputation as a leading research organisation in the field of macroeconomics.

The Department’s research focuses on analysing foreign direct investment flows and capital movements, as well as examining economic shocks and crises and their effects on economic dynamics. Particular attention is devoted to sectoral and regional analyses, competitiveness and trade policy, with an increasing emphasis on the development and implications of “green” macroeconomics.

The research topics of the Macroeconomics Department are highly relevant for understanding the development dynamics of Serbia and other small open and transition economies. Foreign direct investment represents a key source of capital, technology, and international integration, particularly in economies with limited domestic accumulation, while the analysis of economic shocks and crises enables a better assessment of system resilience in the context of global energy, financial, and geopolitical disruptions. Sectoral analysis is important due to the need for “smart industrialisation” and identifying sectors with the greatest development potential, while green macroeconomics is becoming a central development issue for both Serbia and the region, as the transition to a low-carbon economy affects industrial structure, international trade, and investment needs. Competitiveness, trade policy, and capital mobility determine the ability of the economy to integrate into European value chains and sustain stable growth under conditions of openness, technological change, and EU regulatory requirements. Overall, these topics enable a comprehensive understanding of long-term economic challenges and policies that are crucial for sustainable growth, resilience, and international integration of Serbia and the region.

The Department’s research is applicable in public policy design, strategic economic planning, and decision-making support in Serbia and the region. Analyses of foreign direct investment enable public institutions to more precisely define policies for attracting and retaining investors, identify sectors with the greatest potential for productivity and export growth, and optimise incentives so that the contribution of FDI is sustainable and long-term. Research on economic shocks and crises is used to develop macroeconomic stability mechanisms, improve energy and financial policies, and strengthen the resilience of small open economies to global disruptions. Sectoral analyses have direct application in industrial policy, regional development, and strategic guidance of public and private investment, while research in the field of green macroeconomics supports energy transition planning. Analyses of competitiveness, trade policy, and capital mobility are applicable in designing export strategies, the improvement of the institutional framework for investment, and the development of policies aligned with EU requirements and global markets.

The Department carries out its activities through the implementation of national and international scientific research and expert projects, as well as through applied and theoretical research, the results of which are published in the form of scientific papers, monographs, analytical reports, and evidence-based public policy documents. An important segment of the Department’s work includes organising and participating in scientific conferences, workshops, and professional events, developing cooperation with domestic and international research institutions, as well as strengthening the visibility of research results within the academic, professional, and wider public community.