This paper attempts to empirically estimate equilibrium exchange rate level of Serbian dinar. In that purpose reduced form equilibrium real exchange rate approach (ERER) is used, developed by IMF's Consultative Group on Exchange Rate Issues (CGER).The research was made by using ARDL approach in the single-country analysis. It has been started from dynamic model which has described relation between real effective exchange rate and a set of fundamental variables. Bound test has been provided due to determination of the long-term relationship existence between variables. F-statistics has been used for long-term relationship testing between dependent variable and set of indicators. Since assumptions were met, least squares method was used for coefficient estimation. The results have shown constant dinar's overvaluation over medium term. JEL: C33, F31, F41, O24, Q10CGER approach consists of three complementary methodologies: the method of 1 Brankica Pažun Ph.D., Assistant Professor, Alfa University, Faculty of Engineering Management, Vojvode Mišića Boulevard no. 43, macroeconomic balance (MB), the method of external sustainability (ES) and the method of reduced equations of the equilibrium real exchange rate (ERER). The prolonged and significant real exchange rate deviation from the equilibrium level (specifically, in terms of overvaluation can lead to a deterioration of the current account and trade balance, speculation, foreign debt increasing, investment decline, productivity and overall economic growth decreasing.(Pazun et al., 2014) As the equilibrium exchange rate level cannot be directly monitored, there are different methodologies for assessing equilibrium exchange rate and, depending on model, these concepts often yield conflicting results (Bussiere et al., 2010). Particularly, there has been challenge in emerging countries and developing economies, such as Serbia, with structural problems, data unavailability, and high macroeconomic volatility. (Pazun et al., 2014) Rezime Ovaj rad pokušava empirijski da oceni ravnotežni nivo deviznog kursa. U tu svrhu se koristi redukovana forma pristupa ravnotežnog realnog deviznog kursa (ERER), razvijena od strane MMF konsultativne grupe za pitanja deviznog kursa (CGER). U sprevedenoj single-country analizi koristio se ARDL pristup. Pošlo se od dinamičkog modela kojim se predstavio realni efektivni devizni kurs, odnosno redukovana relacija između zavisne realnog efektivnog deviznog kursa i skupa fundamentalnih promenljivih. Kako bi se utvrdilo postojanje dugoročne veze između promenljivih, koristio se granični test (bound test). Koristila se F -statistika za testiranje dugoročne relacije između realnog efektivnog deviznog kursa i samih fundamenata. Obzirom da su bile ispunjene odgovarajuće pretpostavke, sprovedena je ocena koeficijenata metodom najmanjih kvadrata. Rezultati su pokazali konstantnu precenjenost dinara na srednji rok. Ključne reči: ARDL, prilagođavanje, ravnotežni realni devizni kurs, ERER, Srbija JEL: C33, F31, F41, O24, Q10 8 Docent, dr Brankica Pažun, Alfa...

Cloud technology is a system that enables the use of IT resources more efficiently, simply and cheaply. The cost-effectiveness of applying this technology is reflected in the optimization of operating costs, the optimization of capital investments, as well as the reduction of costs. Electronic education as a system began to "live" in the late 20th century in the form of IT applications. Nowadays, these applications are in a new environment - Cloud Computing. The amount of data that needs to be processed grows and has a tendency to accelerate. This huge amount of data is necessary to store, transfer and process in a unit of time this requires the development of certain systems. The given systems that enable the management of the given resources are big data systems, internet of things, cloud platforms, virtualization, artificial intelligence, 5g, etc. The platform structure that carries these systems is cloud computing. The use of cloud computing as a new technology for the realization of e-learning enhances educational and research systems, in terms of storage and flow capacity, data processing speed and availability of information with the aim of a better educational environment with greater controllability, is more economical, efficient and safer in relation to the traditional concept. The paper presents the impact of ICT and cloud computing on educational systems, which should be part of new trends due to the advantages that given technology brings.

During the last two decades there is a growing awareness of the importance of introducing organic agricultural production in Serbia due to issues of health, environmental protection and need for more sustainable agriculture. There is a need for education of small farmers on the possibilities of organic production and significance of information technologies for education, production and marketing. This paper aims to examine the perception on the possibilities of organic production and ICT use concerning their level of education. The study has included 143 farmers from Raška district, municipality Kraljevo. The statistical ANOVA analysis has been done by using the software package SPSS18 to explore an impact the education has on the perception of small farmers on the use of information technologies in education, production, and marketing of agricultural products. The results show statistically significant difference in the perception of small farmers on the usage of information technologies regarding their level of education.

Artificial intelligence, Big data, Cloud system, Information technology, Internet of things.The application of contemporary information technologies in the tourism industry enables the management of the tourism sector in a dynamic business environment. The observed tourism systems generate large amounts of data, which are managed using a set of synchronized concepts such are artificial intelligence systems, big data systems, internet of things and cloud platforms, big data concept. Mentioned systems are becoming an integral part of the business, i.e., they offer new opportunities that become an integral part of the service. By applying the given technologies, both companies and users of tourist services benefit, and productivity and business efficiency of tourist systems increase. The aim of the paper is to identify the current and future changes in the tourism industry by information technology concepts implementation.