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Economic Research

Course developers

Prior knowledge

Ekon1012, Microeconomics

Filz1025, Philosophy

Course abstract

The course provides students with theoretical knowledge of the evolution of economic thought from ancient times to nowadays, an understanding of past and present views and their evolution, the techniques that inspire individuals to do research. The course provides an understanding and knowledge of the key principles of organising research work. Students build up basic skills in producing student research papers, beginning from choosing a research topic or problem, then defining a research aim and specific research tasks, selecting research methods, designing the structure of the research through to representing the research results. Students learn the basics of scientific and methodological matters and acquire practical skills needed for further research.

Learning outcomes and their assessment

Knowledge
• Demonstrate the knowledge of history of economic theory and modern economics. Assessment method - tests.
• Demonstrate the knowledge and understanding of sources of economic thought and cognitive methods from ancient times to nowadays. Assessment methods - discussions, practical assignments.
• Demonstrate the knowledge of types of scientific research and how to practically apply it. Assessment method - test.
• Demonstrate the knowledge of how to organise and present economic research. Assessment method - examination.
Professional skills
• Assess differences in economic conditions across various historical periods, problems, contradictions, development and the key factors. Assessment methods - discussions, practical group assignments.
• Formulate an economic research topic or problem, a research object and a research subject, independently formulate a research aim and specific research tasks and create a research plan. Assessment methods - practical group work, a test.
• Draw research conclusions and proposals and ethically and responsibly write bibliographical references and citations. Assessment methods - practical individual and group work, a test.
Soft skills
• Responsibly plan the completion of the assignments given. Assessment method - independent work.
• Present the results of the independent work done. Assessment method - presentation.
• Effectively work in a team. Assessment method - practical group work.
Competences
• Comprehend the most important concepts, theories and regularities of economics and how to apply them. Assessment methods - independent work, a presentation, an examination.

• Independently acquire, select and analyse information and demonstrate the knowledge of scientific ethics as well as independently structure their own research papers. Assessment methods - independent work, a presentation.

Course Content(Calendar)

List of lecture topics
1. Nature of science.
2. Economic thought and economic theory (concept).
3. Economic thought of ancient times.
4. Medieval economic thought.
5. Origins of the economic belief system.
6. Mercantilism.
7. Economic system of physiocrats.
8. System of classical political economy.
9. Multi-factor economic concept.
10. Economic concept of marginalism.
11. National economy concept.
12. Concepts of effective demand and supply.
13. Concepts of economic statics and economic dynamics.
14. Social market economy and welfare concepts.
15. Economic thought in Latvia.
16. Science.
17. Basic principles of scientific methodology.
18. Research progress.
19. Basics of scientific research methodology.
20. Scientific research methods.
21. Application of scientific research methods.
22. Methods of data acquisition.
23. Methods of processing the research results obtained.
24. Methods of processing research results.
25. Literature review.
26. Research results, conclusions.
27. Conclusion of research work.
28. Research work during studies.
29. New quality of science today
30. Parapsychology - science or a set of cognitions.
31. Economic and social aspects of science.
32. Institutional infrastructure and legal base of science in Latvia.

List of seminars
1. The contribution of Aquinas Thomas in medieval economic thought. Assessment of mercantilism practice in England, France, territory of Latvia (2 hours).
2. Contribution of Francois Kane, Adam Smith, David Ricard, John Stewart Mille to the development of economic thought (2 hours).
3. Contribution of Karl Marx, Karl Menger, Leon Valras, William Jackson to economic theory (2 hours).
4. Contribution of Alfred Marshall, Irving Fisher, Joanna Robinson, John Bates Clark to Economic Theory (2 hours)
5. Contribution of John Meinard Keynes, Milton Friedman, Vasily Leontyev, John Hicks to Economic Theory (2 hours).
6. The representatives of the New Latvian, New Power and their influence on the formation of economic theory in the 19th century. In Latvia. Contribution of Kārlis Ulmanis, Kārlis Baložs in the Formation of Economic Thought in Latvia (2 hours).
7. Analytical assessment of the Nobel Prize in Economics (1 hour).

List of practical work
1. Analysis of economics of ancient thinkers (1 hours).
2. Test 1 (1 hour).
3. Test 2 (1 hour).
4. The problem. Subject. Research subject and research object (1 hour).
5. Aim and tasks of the thesis. Possible structure of research work (1 hour).
6. Test 3 (1 hour).
7. Sources of scientific literature. Primary and secondary sources. Bibliographic references (1 hour).
8. Database and information search in databases. LLU Subscribed Databases (1 hour).
9. Reference and Bibliography Tools (Mendeley) (1 hour).
10. Structure of scientific publications. Analysis of structure (1 hour).
11. Features of the scientific working language. Academic writing style (1 hour).
12. Research results, conclusions and suggestions (1 hour).
13. Test 4 (1 hour).
14. Defense of independent work. Presentation structure and presentation (1 hour).
15. Presentation tools (1 hour).
16. Awards in science. Awards and scholarships for students (1 hour).
17. Investments in science, their indicators and dynamics (1 hour).
18. Single European Research Area, its opportunities (1 hour).

19. Scientific achievements of Latvia (1 hour).

Requirements for awarding credit points

During the study course student have to pass 4 tests, 2 independent works and an exam at the end of the course.

Description of the organization and tasks of students’ independent work

Within the framework of the study course there are 2 independent works - 1 independent work on the topic in the history of economic thought, 1 independent work on the topic in science topicalities. For each independent work the student prepares a presentation. In addition, during the whole course the student independently prepares for the tests and an exam.

Criteria for Evaluating Learning Outcomes

The final grade in the study course is accumulated - from 4 tests (weight in the final grade - 40% or 10% for each test), 2 individual papers (weight in the final grade - 20% or 10% for each independent work) and examination (weight in the final grade - 40%). 10% corresponds to one point on a 10-point grading scale.

Compulsory reading

1. Krilovs L. Ekonomiskās domas retrospekcija. Zinātniskā monogrāfija. Rīga: RTU Izdevniecība, 2014, 220 lpp.
2. Fusfeld D.R. The Age of the Economist. 8th ed. The University of Michigan - Addison - Wesley Educational Publishers Inc. 1999, 250 p.
3. Kristapsone S. Zinātniskā pētniecība studiju procesā: Otrais, aktualizētais izdevums. Rīga: SIA Biznesa augstskola Turība. 2014, 350 lpp.

4. Mārtinsone K. (sast.) Ievads pētniecībā: stratēģijas, dizaini, metodes. Rīga: RAKA. 2011, 284 lpp.

Further reading

1. Krilovs L. Ekonomiskās domas vēsture: Lekciju konspekts, III daļa. Rīga: RTU, 2009, 105 lpp.
2. Krilovs L. Ekonomiskās domas vēsture. Lekciju konspekts. II daļa. Rīga: RTU izdevniecība, 2008, 44 lpp.
3. Krilovs L. Ekonomiskās domas vēsture. Lekciju konspekts. I daļa. Rīga: RTU izdevniecība, 2003, 216 lpp.

4. Zinātniskā rakstīšana un pētījumu rezultātu izplatīšana. Mārtinsones K., Piperes A. redakcijā. Rīga: RSU, 2018, 301 lpp.

Periodicals and other sources

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Notes

Compulsory study course for the academic bachelor study program “Economics”