Course code Ekon1023

Credit points 3

Microeconomics

Total Hours in Course81

Number of hours for lectures16

Number of hours for seminars and practical classes16

Independent study hours49

Date of course confirmation19.06.2019

Responsible UnitInstitute of Economics and Finance

Course developer

author lect.

Baiba Kizika

Mg. oec.

Replaced course

Ekon1024 [GEKO1024] Microeconomics

Course abstract

The course deals with microeconomic analysis. It intoduces students to household consumption theories, market laws, and motivations of producers. It deals with various types of competition and their indications and provides an understanding of efficient use of resources and of conditions for resourse markets.

Learning outcomes and their assessment

Students will be able to demonstrate:
Knowledge of
basic microeconomic problems under constrained resources, the formation of production cost and the operation of a firm and the operation of a firm and decision-making under various market competition conditions. Test.
Skills to
assess the market situation and the effects of demand and non-price supply factors on market equilibrium, perform an assessment of production costs as well as revenue and profit. Test; plan the completion of the assignments given within certain time limits, engage in group work and take responsibility for the results and analysis of the group work.
Competences to

independently formulate and analyse microeconomic relationships, justify decisions, if necessary, and perform an additional analysis, assess the economic efficiency of resource use for a firm and consumer behaviour under constrained conditions. Discussions, practical assignments.

Course Content(Calendar)

1. Basic economic questions and basic problems – 5 h (2 h lectures, 3 h practicals)
2. Market: supply and demand – 3 h (3 h lectures)
3. Determination of market equilibrium – 5 h (2 h lectures, 3 h practicals)
4. Test 1 – 1 h
5. Nature and types of elasticity – 3 h (1 h lecture, 2 h practicals)
6. Consumption theory: needs – 2 h (1 h lecture, 1 h practical)
7. Production – 2 h (2 h lectures)
8. Classification of production costs – 7 h (3 h lectures, 4 h practicals)
9. Complete and incomplete markets – 3 h (2 h lectures, 1 h practical)

10. Test 2 – 1 h

Requirements for awarding credit points

Two tests must be passed within the time specified. The student must participate in practicals and discussions as well as group work. An examination must be taken at the final stage of the course.

Description of the organization and tasks of students’ independent work

The student must watch a film about the basic problem of economics – limited resources, have an understanding of changes in market equilibrium and perform an analysis of non-price factors of supply and demand as well as independent calculations of production costs, income and profit/losses.

Criteria for Evaluating Learning Outcomes

The final mark consists of the following pieces of assessment: two tests 20% each and an examination 60%.

Compulsory reading

1. Bikse V. Ekonomikas teorijas pamatprincipi: Mācību līdzeklis. Rīga: SIA Izglītības soļi, 2007., 454 lpp.
2. Dzelmīte M., Volodina M. Mikroekonomika. Rīga: SIA Izglītības soļi, 2004., 241 lpp.

3. Nešpors V. Mikroekonomikas teorijas pamati. Rīga, RTU, 2015., 244 lpp.

Further reading

1. Gods U. Mikroekonomika. Rīga, Biznesa augstskola Turība, 2008., 432 lpp.

2. Plotkāns A. Cita ekonomika. Rīga, SIA Dienas Grāmata, 2010., 190 lpp.

Periodicals and other sources

1. Dienas Bizness: nedēļas laikraksts: Latvijas biznesa avīze. Rīga: Diena: Dagens Industri, 2005-. ISSN 1407-2041.
2. Forbes. Rīga: SK Media. ISSN 1691-6018
3. Kapitāls: žurnāls lietišķiem cilvēkiem: krāsains biznesa un ekonomikas žurnāls. Rīga: Lietišķās informācijas dienests. ISSN 1407-2505.
4. Uzņēmumu datu bāzes [tiešsaiste] Pieejams: www.lursoft.lv
5. Ekonomikas ministrijas mājas lapa [tiešsaiste] Pieejams: www.em.gov.lv
6. Latvijas Investīciju un attīstības aģentūras mājas lapa [tiešsaiste] Pieejams:www.liaa.lv

7. Centrālās statistikas pārvaldes mājas lapa [tiešsaiste] Pieejams:www.csb.lv

Notes

General study course for the ESAF first-level professional programme Business Studies