Science Day connected traditional science and new technologies - from econometrics to decentralized science

The Faculty of Economics marked the World Science Day for Peace and Development by organizing a series of events on November 10 and 11, 2025, dedicated to the promotion of science, open knowledge and innovation in modern society.

During the two-day program, students, professors and researchers had the opportunity to participate in lectures and workshops that combined theoretical knowledge, modern research approaches and the application of new technologies.

Welcoming those present during the opening of the Day of Science, the vice-dean for scientific research assistant professor Jovan Đurašković reminded that it is the fourth time that we celebrate this important day with the same goals - the promotion of scientifically sound knowledge, fostering research interest and creating the need for continuous training, especially among young researchers.

"Science frees man from delusions, it emancipates him and acts in the function of community development. That's why science is truly valuable only when it goes beyond our framework - when it improves society and makes it freer," concluded vice dean Đurašković.

The Science Day celebration program began with a guest lecture by Professor Christopher F. Baum from Boston College on the topic "Hypothesis testing in OLS regression". Professor Baum, one of the world's leading experts in the field of econometrics and the author of several reference books that are used worldwide, explained to the students the key concepts and modern methods of hypothesis testing in linear regression models. Special emphasis was placed on the practical application of these methods in economic research with the use of Stata software, to the development of which Professor Baum made a significant contribution.

On the second day of the program, Professor Baum held an intensive workshop entitled "Instrumental variables methods in applied econometric research", intended for students, teachers and researchers interested in advanced techniques of applied econometrics. Through concrete examples and practical tasks, the participants had the opportunity to deepen their understanding of working with data and analysis with the help of instrumental variables, which aroused great interest from the academic community.

On the same day, the workshop "DeSci ecosystem in the making - new models, new possibilities" was held, led by Filip Milenković, serial founder, innovator and pioneer of the decentralized science movement (DeSci) in the region. Milenković presented the participants with contemporary trends and challenges in the development of decentralized scientific infrastructure, opportunities brought by Web3 and blockchain technologies, as well as models of open cooperation in science.

The workshop was organized within the Erasmus+ project Web3 Innovation Hub, whose coordinator is the Faculty of Economics. The project aims to strengthen innovative and entrepreneurial capacities in higher education through the development of skills in the field of Web3 technologies, green blockchain solutions and decentralized scientific community (DeSci).

By marking the World Day of Science for Peace and Development, the Faculty of Economics of the University of Montenegro once again confirmed its commitment to the promotion of science, open knowledge and innovation, and encouraging dialogue about the role of science and technology in the sustainable development of society.