IET103 Economics

Code IET103
Name Economics
Status Compulsory/Courses of Limited Choice
Level and type Undergraduate Studies, Professional
Field of study Economics
Academic staff Kristīne Gorbunova, Ilze Judrupa, Juris Saulītis, Gaļina Blagova, Normunds Balabka, Valentīna Strautmane, Indra Ruperte
Credit points 2.0 (3.0 ECTS)
Parts 1
Annotation Main problems being solved within the study of Economics. Supply and demand mechanism. Entrepreneurship, its organizing principles. Organizing principles of goods production. Resources and factors in business. Price and pricing. Business lending. Business investment. Economic system, its characteristics. Market types. Economic development cycles, their impact on economic activity of enterprises. National monetary and fiscal policy. Domestic and Gross National Product. Inflation, inflation types in economy. National, corporate and family budgets - budgeting principles. International economic relations..
Goals and objectives
of the course in terms
of competences and skills
The aim of the course: To master the skills and raise awareness about Economics. Tasks: 1. To promote student’s skills to navigate autonomously in economic processes, analyze them, summarize results and make conclusions. 2. To develop the skills to independently analyze the specific challenges in the economy and prepare presentation materials. 3. To acquaint the students with the mathematical methods used in economics and their application in practice.
Learning outcomes
and assessment
Students are able to independently analyze micro and macro economic processes. Able to independently select, process and analyze the data obtained necessary for research of social processes. Able to analyze economic indicators that characterize economic processes according to the goal set. - During the semester students complete one test, two border tests. In addition, they should complete eight practical tasks. Results are evaluated according to ten-grade scale. In conclusion, students pass a written exam.
Course prerequisites Not required

[Extended course information PDF]