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Economic Resources

Course developer

Course abstract

The course provides students with an in-depth knowledge of the kinds and interaction of resources and their role in entrepreneurship as well as the evolution of functions of resource use historically and economically. Students acquire skills in assessing the competitiveness of an enterprise’s resources and identifying the cost efficiency of resource use. Students will be able to independently apply the acquired knowledge in doing research studies on problems in use of economic resources, associating national and global economic processes.

Learning outcomes and their assessment

Knowledge
1. Students will be able to: demonstrate the knowledge and understanding of substance of economic resources and a differentiated management approach to be applied to various systems - Test, a report.
2. Demonstrate the knowledge of evolution of the role of economic resources and the shift in focus in the modern world – Test.
3. Demonstrate cognitive and selective knowledge of the availability and role of resources regionally, nationally and globally - Report, discussions in classes.
Skills
1. Independently identify an enterprise’s resources and assess their competitiveness as well as design a strategy based on resource-based competitive advantages - Practical assignments.
2. Integrate knowledge to examine and critically assess problems, differences and priorities concerning resource use and its role in the development of the country and its regions and enterprises - Report, discussions in classes.
3. Independently perform an economic assessment of resource use - Practical assignments with calculations, group work
4. Critically and analytically discuss relevant matters - Seminar classes.
5. Use research paper databases to acquire information - Independent work, a report.
6. Communicate, present and reasonably discuss complicated resource availability and use processes - Seminar classes.
Competence
1. Apply the acquired knowledge and research skills to assess whether resources are exploited in an economical and competitive way and according to the requirements of the new economy - Practical assignments.

2. Independently formulate and critically analyse problems concerning resource use in the national and global socio-economic context - Report, a presentation.

Course Content(Calendar)

1. Concept of economic resources and the evolution of economic theories. (Lecture - 2 hours)
2. Economic nature of production resources, the formation of economic costs. (Lecture - 1 hour, practicals - 2 hours)
3. Assessment of the competitiveness and use efficiency of resources. (Lecture - 2 hours, practicals - 2 hours)
4. Globalization of the economy and use of resources. (Lecture - 1 hour, seminar - 1 hour)
5. Natural resources, their constraints and trends in and problems of their use. (Lectures - 2 hours, seminars - 3 hours)
6. Types of capital and their role in economic activity. (Lecture - 1 hour, seminar - 1 hour)
7. Human resources: human capital, human potential and human resources, their characteristics. (Lectures - 2 hours, seminars - 2 hours)

8. Entrepreneurial ability, its role in the knowledge economy. (Lecture - 1 hour, seminar - 1 hour)

Requirements for awarding credit points

Formal test with a mark (a cumulative mark earned during the semester).
The cumulative mark consists of the following pieces of assessment:
• practical assignment – an assessment of the competitiveness of an enterprise’s resources (VRIO matrix) (20 points);
• multiple choice test (nature and role of economic resources in economic processes) (10 points);
• practical assignment – an economic assessment of use of an enterprise’s resources (economic profit calculation) (20 points);
• report (study on the topic chosen by the student; 8-10 pages in length) (30 points);
• presentation of and discussions on the study (20 points).

A score of 10 is equal to one point on a 10-point marking scale.

The report has to be submitted in printed format, before the deadline, and presented before the audience.

Description of the organization and tasks of students’ independent work

Studies of various information materials and the development of a report.
Development of a presentation of a study.

Criteria for Evaluating Learning Outcomes

The formal test mark is cumulative.

Compulsory reading

1. Brebbia C.A., Miralles I., Garcia J.L. Environmental and Economic Impact on Sustainable Development. UK: WIT Press, 2017. 250 p.
2. Ukolovs V., Mass A., Bistrjakovs I. Vadības teorija. Rīga: Jumava, 2006. 246 lpp.
3. Mankiw N. G. Principles of Economics. 2nd ed. Fort Worth: Harcourt College Publishers, 2001. 837 p.
4. Medvedevs R. Latvijas globalizācija un kopsavilkuma plāns: pasaules ekonomikas globalizācija un tās ietekme uz Latvijas ekonomiku. Rīga, 2009. 127 lpp.
5. Latvijas uzņēmumu konkurētspējas uzlabošanas izpētes starpdisciplinārie aspekti. R.Škapara un Ē.Šumilo redakcijā. Rīga: LU Akadēmiskais apgāds, 2017. 116 lpp.
6. Vide un ekonomika: Monogrāfija. Dz. Atstāja, Dž. Dimante, I. Brīvers I. u.c. Rīga: LU, 2011. 256 lpp.
7. Gratone L. Cilvēkresursu stratēģija. Rīga: SIA „J.L.V.”, 2004. 282 lpp.
8. Szoege H.M. Problems of Environmental and Natural Resources Economics. Warszawa, 2013. 135 p.
9. Drukers P.F. Efektīvs vadītājs. Rīga: Zoldnera izdevniecība, 2014. 224 lpp.

10. Čurkina I. Ekonomikas augsmes faktori Latvijā. Rīga: LZA EI, 2003. 168 lpp.

Further reading

1. Biotehonomika: mācību grāmata. D. Blumbergas redakcijā. Rīga: RTU Izdevniecība, 2016. 338 lpp. ISBN 978-9934-10-748-1
2. Cimdiņa A., Raubiško I. Cilvēks un darbs Latvijas laukos. Antropoloģisks skatījums. Rīga: LU izdevniecība Zinātne, 2012. 195 lpp. ISBN 978-9984-879-36-9
3. Darba alga un to ietekmējošie faktori. Rīga: LR Labklājības ministrija, 2006. 206 lpp.
4. Ehrenberg R.G., Amith R.S. Modern Labor Economics. Theory and Public Polisy. 8th edition. Boston, MA [etc.]: Addison Wesley, 2003. 587 p.
5. Garleja R. Darbs, organizācija un psiholoģija. Rīga: Izdevniecība RaKa, 2003. 200 lpp.
6. Giddens E. Runaway World: How Globalization is Reshaping Our Lives. London: Profile Books, 2002.
7. Globalization and National Financial Systems. Ed. by J.A. Hanson, P. Honohan, G. Majnoni. Washington D.C.: World Bank, 2003.
8. Klimats un ilgtspējīga attīstība. M. Kļaviņa un J. Zaļoksna redakcijā. Rīga: LU Akadēmiskais apgāds, 2016. 384 lpp.
9. Latvijas ekonomikas konkurētspēja un investīciju nozīme tā veicināšanā: Monogrāfija. E. Dubras red. Rīga: LU Akadēmiskais apgāds, 2009.168 lpp.
10. Perman R., Ma Y., McGilvray J. Natural Resource and Environmental Economics. London: Addison Wesley Longman Limited, 1996. 396 p.
11. Pilvere I., Nipers A. Lauksaimniecības un meža zemes Latvijā: izmantošanas potenciāla analītisks izvērtējums: zinātniska monogrāfija. Jelgava: Latvijas Lauksaimniecības universitāte, 2015. 245 lpp.
12. Resursu patēriņa novērtējums. Rīga: LRVM Latvijas Vides aģentūra, 2004. 92 lpp.
13. Schuler R. S. Managing Human Resources. 1995. 493 p.
14. Seitz W. D., Nelson G. C., Halcrow H. G. Economics of resources, agriculture, and food. New York [etc.]: McGraw-Hill, 1994. 477 p.
15. Stiglics Dž. J. Globalizācija un neapmierinātība ar to. Rīga: Biznesa augstskola Turība, 2010. 246 lpp.
16. Stīgers M. Globalizācija: ļoti saistošs ievads. Rīga: Satori, 2008. 175 lpp.

17. Vides zinātne. M. Kļaviņa redakcijā. Rīga: LU Akadēmiskais apgāds, 2008. 502 lpp.

Periodicals and other sources

1. Scopus datubāze [tiešsaiste]. Pieejams: https://www.scopus.com
2. Web of Science datubāzes [tiešsaiste]. Pieejams: https://apps.webofknowledge.com
3. ScienceDirect Freedom Collection datubāze [tiešsaiste]. Pieejams: https://www.sciencedirect.com
4. EBSCO eBook Academic Collection datubāze [tiešsaiste]. Pieejams: http://web.b.ebscohost.com/ehost/search/advanced?vid=0&sid=5b9d8f4e-5779-40cd-9b4b-5e20f3d1432b%40pdc-v-sessmgr02
5. EBSCOhost datubāzes [tiešsaiste]. Pieejams: http://search.ebscohost.com/
6. Wiley Online Journals datubāze [tiešsaiste]. Pieejams: https://onlinelibrary.wiley.com/
7. Dienas Bizness: nedēļas laikraksts: Latvijas Biznesa avīze. Rīga: Diena: Dagens Industri, 1992-. ISSN 1407-2041
8. Forbes. Rīga: SK Media. ISSN 1691-6018
9. Diena. Rīga: Diena, 1990-. ISSN 1407-1290

10. The Economist. London: Economist Newspaper Ltd. ISSN 0013-0613. Pieejams: http://www.economist.com/?sa_campaign=econsubs/europe/subspage/imglink

Notes

Compulsory course for the ESAF professional master programme Business Management and the academic master programme Economics