Since the present is both fruit of the past and seed of the future, it is necessary that we look not only ahead of us, towards tomorrow, but we continuously need to look back, and see yesterday. Therefore, for discussing economic perspectives of Kosovo and Metohia it is inevitable to shed light upon economic history of ancient Serbian province. For this reason, the objective of analysis in this study is economy of Kosmet during Nemanjić era the first period for which relatively reliable data exist. Beside introduction and conclusion, composition of the article consists of two parts. In the first part hierarchy of social structure and economic relations are presented. Ruler with remaining ecclesiastical and secular landed gentry (those that inherit land and those who have benefit of given land) portray the privileged class. On the other side, peasants (serves, cattle breeders serves in better position, craftsmen, townsmen and slaves) make the subordinate class, which is obligated towards feudal lords to give feudal rent in labor (unpaid forced labor), natural (tenth) and monetary form. The second part of the paper is dedicated to consideration of economic structure in observed period, i.e. agriculture, handicrafts, mining, domestic and foreign trade. In that context material and spiritual progress of Kosovo and Metohia and whole Serbia during Nemanjić period is highlighted. Today about that testify, in spite of ravages of time and enemies, as well as Serbian negligence, saved architectural monuments, primarily monasteries Pećka patrijaršija, Gračanica and Dečani.