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About Study Course

Credit points / ECTS:4 / 6
Course supervisor: Inna Dovladbekova
Study type:Full time
Course level:Bachelor
Target audience:Marketing and Advertising; Business Management
Language:English, Latvian
Branch of science:Economics; Other economic and management sub-sectors

Objective

To develop students' understanding of macroeconomic theory as an integral part of economic theory and the role of statistics in market conditions. To promote knowledge of the theoretical concept of macroeconomics, its categories and basic issues by providing information in both historical and contemporary contexts, to strengthen the knowledge of macroeconomic theory and politics with examples illustrating the application of macroeconomic principles in real life, public policy and business.

Prerequisites

Secondary Education. Mathematics. Basics of Economics.

Learning outcomes

Knowledge

On completion of the course students:
• can demonstrate knowledge of information – its role, types, acquisition possibilities, grouping, data processing methods;
• understand the macroeconomic concept of the functioning of a market economy and its practical implications in line with recent developments;
• know macroeconomic theories and their role in public policy and business;
• understand the cyclical development of the economy and methods of regulation according to modern theories;
• understand the role of international economic relations in the global economic system.

Skills

Students will be able to calculate, interpret and use macroeconomic indicators to assess the economic situation. Students will be able to carry out analysis of the macroeconomic equilibrium and its influencing factors, classify types and causes of unemployment and inflation, to reasonably discuss the use of fiscal and monetary policy instruments depending on the business cycle changes, to determine economic growth factors in the context of sustainable development. Students will be able to apply theoretical knowledge of macroeconomics for analysis of economic processes and business environment and for solution of topical problems, as well as for scientific research and professional work. Students will be able to reasonably discuss current issues of macroeconomics and their practical significance based on macroeconomic information analysis.
To answer logically and reasonably the questions on the topics covered, to analyse the theoretical questions discussed in the lectures; will be able to understand and systematically summarise the main theoretical questions and regularities of statistics.

Competence

Students will be able to classify information data sets, perform economic interpretation of matrices, explain functional research algorithm, define financial mathematics concepts.
Students will be able to analyse and interpret macroeconomic indicators, explain macroeconomic equilibrium research algorithm, characterise fiscal and monetary policy instruments and determine their application depending on the economic situation in the country, choose inflation and unemployment reduction tools, determine economic growth and living standard factors and indicators, to describe the competitive advantages of countries and their role in the global economy, to analyse exchange rate factors and international financial system concepts. Students will be able to analyse public policy and business environment using macroeconomic categories.

Study course planning

Planning period:Year 2021, Spring semester
Study programmeStudy semesterProgram levelStudy course categoryLecturersSchedule
International Business and Start-up Entrepreneurship2Bachelor’sRequired
International Business and Start-up Entrepreneurship2Bachelor’sRequired