IET109 Fundamentals of National Economy

Code IET109
Name Fundamentals of National Economy
Status Compulsory/Courses of Limited Choice
Level and type Undergraduate Studies, Professional
Field of study Economics
Academic staff Maija Šenfelde, Juris Saulītis, Aleksandra Mihņenoka
Credit points 2.0 (3.0 ECTS)
Parts 1
Annotation The subject matter of economic theory. Market mechanism. Demand. Supply. Elasticity. Needs, utility. Production factors, productivity. Production costs. Profit. Microeconomic equilibrium and stability. Business cycles in national economy. Equilibrium in national economy. Money and inflation. Employment. Role of the government in economics. Forms of international economic relations and their development..
Goals and objectives
of the course in terms
of competences and skills
To give an insight into functioning of the national economy. The task is to understand the fundamental economic problems and to be able to evaluate the impact of the economic policy of the government on the national economy, every businessman and individual.
Learning outcomes
and assessment
Basic knowledge about functioning of the national economy and the role of the government, businessmen and individuals in it has been acquired. - 2 tests are to be written during the semester and a report on a topical issue of the national economy has to be handed in. Positive evaluation leads to a pass.
The final assessment. - Exam.
Course prerequisites Not needed

[Extended course information PDF]