.
Basics of Economics
Study Course Description
Course Description Statuss:Approved
Course Description Version:3.00
Study Course Accepted:03.10.2022 10:56:39
| Study Course Information | |||||||||
| Course Code: | SVUEK_057 | LQF level: | Level 6 | ||||||
| Credit Points: | 2.00 | ECTS: | 3.00 | ||||||
| Branch of Science: | Clinical Medicine; Public Health | Target Audience: | Public Health | ||||||
| Study Course Supervisor | |||||||||
| Course Supervisor: | Anita Kokarēviča | ||||||||
| Study Course Implementer | |||||||||
| Structural Unit: | Department of Public Health and Epidemiology | ||||||||
| The Head of Structural Unit: | |||||||||
| Contacts: | Riga, 9 Kronvalda boulevard, svek rsu[pnkts]lv, +371 67338307 | ||||||||
| Study Course Planning | |||||||||
| Full-Time - Semester No.1 | |||||||||
| Lectures (count) | 4 | Lecture Length (academic hours) | 2 | Total Contact Hours of Lectures | 8 | ||||
| Classes (count) | 8 | Class Length (academic hours) | 3 | Total Contact Hours of Classes | 24 | ||||
| Total Contact Hours | 32 | ||||||||
| Study course description | |||||||||
| Preliminary Knowledge: | Mathematics and statistics. | ||||||||
| Objective: | To develop an understanding about the main issues, which are within the scope of economics at micro and macro levels. | ||||||||
| Topic Layout (Full-Time) | |||||||||
| No. | Topic | Type of Implementation | Number | Venue | |||||
| 1 | Introduction to economics.The main goals of economics, problems. The main goals of the economy, problems. Evaluation of socio-economic factors. Economic situation in Europe and Latvia (concept of national development, employment, GDP, education, health care, tax policy). | Lectures | 1.00 | auditorium | |||||
| 2 | The object of economic theory. The main goals of economics, problems. Manufacturing resources, factors. The common and the different in microeconomics and macroeconomics. The caracteristics of economic systems. The traditional economy, command economy, free market economy, mixed economy. Latvian economic system and its characteristics. | Lectures | 1.00 | auditorium | |||||
| Classes | 1.00 | auditorium | |||||||
| 3 | The role of the state in the economy. Fiscal and monetary policy. Money, its types, functions. Demand of money, its supply. Inflation, its types. Latvian banking system. Latvian central bank and commercial bank functions. Securities Market. Stock Exchange. | Lectures | 1.00 | auditorium | |||||
| Classes | 1.00 | auditorium | |||||||
| 4 | Market mechanism. Objectives of market participants. Market structures. Market equilibrium. Consumer behavior in the market. Needs, benefits, utility. Individual and aggregate demand and supply, its volume. Factors influencing supply and demand, flexibility. | Lectures | 1.00 | auditorium | |||||
| Classes | 1.00 | auditorium | |||||||
| 5 | Source of income, distribution of income. Poverty. Taxes, their types, calculation. State budget – its creation, approval. The revenue and expenditure, their control. EU budget – its components, distribution. | Classes | 1.00 | auditorium | |||||
| 6 | Employment relationship. Types of contracts (employment contract, company contract, collective agreement). Remuneration and taxes (rates, calculation). | Classes | 1.00 | auditorium | |||||
| 7 | International economic integration. Globalization and its impact on the national economy. Latvia and globalization. | Classes | 1.00 | auditorium | |||||
| 8 | Presentations of reports on economic topics. | Classes | 2.00 | auditorium | |||||
| Assessment | |||||||||
| Unaided Work: | Participation in lectures and seminars, individual work with study materials and literature sources, preparation of presentations on the course topics. | ||||||||
| 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): | Exam (Written) | ||||||||
| Final Examination (Part-Time): | |||||||||
| Learning Outcomes | |||||||||
| Knowledge: | Students will be able to: • elucidate the basic problem of economics; • define the main economic goals and problems; • estimate the role of the state in economics; • name and characterize the types of unemployment; • name and characterize the main instruments of state economic policy. | ||||||||
| Skills: | Students will be able to: • distinguish the common and distinctive features of micro and macro economics; • evaluate the strengths and weaknesses of various economic systems; • analyze the behavior of market subjects; • evaluate the socioeconomic situation in Latvia; • compare the economic indicators of Latvia and other countries. | ||||||||
| Competencies: | The students will be able to apply their knowledge and to: • discuss the influence of globalization on the national economy; • analyze Latvian banking system, tax policy and budget; • formulate and articulate the influence of fiscal and monetary policy on the socioeconomic situation in the country. | ||||||||
| Bibliography | |||||||||
| No. | Reference | ||||||||
| Required Reading | |||||||||
| 1 | Nešpors, V. 2015. Mikroekonomikas teorijas pamati. Rīga: RTU. | ||||||||
| 2 | Bikse V. 2015. Makroekonomika. Liepāja: LiePa. | ||||||||
| Additional Reading | |||||||||
| 1 | Krugman, Paul R. 2018. Macroeconomics. New York, NY : Macmillan Education. | ||||||||
| 2 | Šteinbuka, I. (zin. red.). 2021. Latvijas tautsaimniecība pandēmijas ēnā un pēckrīzes izrāviena iespējas. Rīga: LU Akadēmiskais apgāds. | ||||||||
| Other Information Sources | |||||||||
| 1 | http://www.em.gov.lv/ | ||||||||
| 2 | http://www.fm.gov.lv/ | ||||||||
