The University of Montenegro was founded in 1974 and is the oldest institution of higher education in Montenegro. It has 19 faculties and three institutes, with an academic community consisting of around 17,000 active students at all levels of study, and more than 1,000 academic, professional and other staff. It is the most comprehensive higher education institution that provides education in the fields of social sciences, humanities, as well as technological, natural, and medical sciences. Since 2004, teaching at the University of Montenegro has been organized in accordance with the principles of the Bologna Declaration. Teaching is organized in accordance with the curricula of reputable universities of the European Higher Education Area, which, along with numerous agreements and programs, enables students, teachers, and administrative staff to have unrestricted mobility. Studies are carried out in three cycles, basic, master, and doctoral studies. The model according to which they are implemented is 3+2+3. It is the only state university in Montenegro. As a central institution of science, culture and art, it continuously strengthens ties with the economic, social and international environment, through productive cooperation with business and the public sector. The Faculty of Economics, as an organisational unit under the auspices of the UoM, represents one of the most significant educational and scientific research institutions that provides highly skilled personnel in the economic profession in Montenegro. In addition to educational activity, scientific and research activity have been recognized, as well as professional activity carried out through cooperation with the economy and business community along with other actors of economic policy. In this way, apart from the educational element, the Faculty of Economics is recognized as one of the important partners in the implementation of key economic reforms in Montenegro. In undergraduate and master's studies, candidates are enrolled at the expense of the State Budget. Its outreach activities include project work, courses for knowledge innovation, professional development and training of personnel, consulting, scientific and expert discussions, academic and professional cooperation with other institutions, publishing professional and scientific publications, etc.