Basics of Economics and Business

Study Course Description

Course Description Statuss:Approved

Course Description Version:3.00

Study Course Accepted:11.04.2022 09:56:04

Study Course Information
Course Code:		SUUK_226		LQF level:		Level 5
Credit Points:		2.00		ECTS:		3.00
Branch of Science:		Economics; Other economic and management sub-sectors		Target Audience:		Sports Trainer
Study Course Supervisor
Course Supervisor:		Anita Kokarēviča
Study Course Implementer
Structural Unit:		Department of Sports and Nutrition
The Head of Structural Unit:
Contacts:		Riga, 3 Cigorinu Street, suukrsu[pnkts]lv, +371 67611559
Study Course Planning
Part-Time - Semester No.1
Lectures (count)		6	Lecture Length (academic hours)		2	Total Contact Hours of Lectures		12
Classes (count)		6	Class Length (academic hours)		2	Total Contact Hours of Classes		12
Total Contact Hours								24
Study course description
Preliminary Knowledge:
Secondary school level in basic economics, mathematics and statistics.
Objective:
To develop understanding of the key issues facing the economy, both at micro and macro level, and to promote the acquisition of basic knowledge of the importance of entrepreneurship in the economy, business forms, legal aspects, work organization and financial planning.
Topic Layout (Part-Time)
No.	Topic			Type of Implementation		Number	Venue
1	Subject of economic theory. Main goals and problems of economy. Production resources, factors. Common and different in microeconomics and macroeconomics.			Lectures		1.00	auditorium
				Classes		1.00	auditorium
2	Characteristics of economic systems. Market mechanism. Demand and supply.			Lectures		1.00	auditorium
				Classes		1.00	auditorium
3	Essence of national economic policy and tools for its implementation. Fiscal and monetary policy.			Lectures		1.00	auditorium
4	Latvian banking system. Taxes. Budget.			Classes		1.00	auditorium
5	Impact of globalization on national economies. International relations.			Lectures		1.00	auditorium
6	Nature and functions of business. Determinants of business form. Legislation.			Lectures		1.00	auditorium
7	Comparison of business forms. Advantages of Business Planning. Internal and external environmental factors analysis. Content, scope, presentation of business plan.			Classes		1.00	auditorium
8	Impact of internal and external environment on business. State aid to promote entrepreneurship. Accounting for economic transactions in a company.			Lectures		1.00	auditorium
9	Introduction to Accounting. Financial accounting, management accounting. Annual report of the company, its components (balance sheet, profit and loss statement, cash flow statement, management report). Notes to the balance sheet items.			Classes		1.00	auditorium
10	Analysis of company financial ratios. Risk management. Decision-making.			Classes		1.00	auditorium
Assessment
Unaided Work:
Participation in lectures and seminars, individual work with study materials and literature sources, preparation of presentations on the course topics. At the end of the course please fill in the evaluation questionnaire.
Assessment Criteria:
Cumulative assessment that consists of assessment of the independent work completed during the course – 50% and exam grade – 50%. To be able to take the exam, student has to have a positive assessment in all the independent work completed during the study course. To receive a final grade, examination is mandatory. The assessment of independent work in case of an unsuccessfully passed exam does not increase the final assessment grade.
Final Examination (Full-Time):
Final Examination (Part-Time):		Exam (Written)
Learning Outcomes
Knowledge:		Students will know and understand the essence of economics and entrepreneurship, the role of the state in economics, will be able to describe the main economic goals and problems, will be able to name the main legal acts regulating entrepreneurship, explain the need of accounting, define basic accounting principles
Skills:		Students will be able to compare common and different in micro and macro economics, evaluate the advantages and disadvantages of economic systems, analyze the behavior of market subjects, compare economic indicators of Latvia and other countries, explain the role of the state in economy, advantages and disadvantages, preparation of business plan, SWOT and PEST analysis.
Competencies:		Students will be able to evaluate the Latvian banking system, tax policy and budget, logically formulate and explain the impact of fiscal and monetary policy on the socio-economic situation in the country, evaluate the business environment in Latvia and its role in business promotion, assess risks and make decisions to mitigate and eliminate them.
Bibliography
No.	Reference
Required Reading
1	Bikse V. Makroekonomika. 2015. Liepāja: LiePa, 269 lpp
2	Nešpors V. 2015. Mikroekonomikas teorijas pamati. Rīga, RTU, 244 lpp
3	Leibus I. 2019. Uzņēmuma darbības uzsākšana, grāmatvedība un nodokļi. Rīga: Lietišķās informācijas dienests, 176 lpp.
4	LR Komerclikums.
Additional Reading
1	Kjells G. H., Alsiņa R. 2019. Biznesa ekonomika 3.izd. Rīga: RTU, 603 lpp.
2	Drukers P. F. 2014. Efektīvs vadītājs. Rīga: Zoldnera izdevniecība, 224 lpp.
3	Babris S. u.c. 2020. LEAN risinājumi efektīvākam biznesam. Rīga: Madris, 192.lpp.
Other Information Sources
1	http://www.em.gov.lv/
2	http://www.fm.gov.lv/
3	https://www.vid.gov.lv
4	https://www.lnb.lv/en/node/173
5	Biznesa skices