Course code VadZ2028

Credit points 4

Economic Management Studies

Total Hours in Course160

Number of hours for lectures16

Number of hours for seminars and practical classes48

Independent study hours96

Date of course confirmation15.01.2019

Responsible UnitInstitute of Business and Management Science

Course developer

author Uzņēmējdarbības un vadībzinātnes institūts

Aina Dobele

Dr. oec.

Prior knowledge

Ekon1012, Microeconomics

Ekon1024, Microeconomics

Ekon2079, Simple-entry Accounting

Ekon2120, Basics of Accounting

Ekon2135, Tax Accounting

VadZ1004, Organizing of Agricultural Processes

Course abstract

The course provides students with an understanding of the substance, processes and factors of economic management. Students acquire the knowledge of the classification of production resources and the role and use of the resources in an agricultural enterprise. The course builds up the knowledge of techniques for calculating business profitability and of production costs as well as of the role and calculation of contribution margins and skills in drawing up a production plan and assessing the performance of the plan in an agricultural enterprise.

Learning outcomes and their assessment

Knowledge
1. Students will be able to: demonstrate the knowledge of the substance of economic management and the role of it in business - Discussions in classes, an examination
2. Demonstrate the knowledge of the nature and classification of production resources and the efficient use of the resources by agricultural holdings - Test with calculations
3. Demonstrate the knowledge of economic costs and the substance and importance of contribution margins for agricultural holdings - Test with calculations
4. Demonstrate the knowledge of the place and role of agriculture and agricultural enterprises in the national economy - Discussions in classes, an examination
Skills
1. Independently identify and assess the factors affecting the type of farming for agricultural holdings - Group work
2. Calculate profitability (contribution margin) for an agricultural enterprise for every kind of agricultural production - Test with calculations
3. Perform an economic assessment of production costs - Test with calculations
4. Draw up a production plan for an agricultural holding by use of a computer application - Practical assignments, group work
5. Responsibly and flexibly plan their independent studies - Independent work
6. Communicate with agricultural holding managers to acquire information - Independent work
7. Communicate and present the results of their work - Practical assignments, group work
8. Independently deal with sources of information - Independent work
9. Apply information technologies for calculation - Practical assignments
Competence
1. Independently draw up a production and a financial plan for an agricultural enterprise - Practical assignments
2. Calculate the economic efficiency of resource use for an agricultural holding for its total production and individual kinds of production - Tests, practical assignments

3. Comprehend the situation and find solutions to the development of an agricultural enterprise under changing economic conditions - Examination

Course Content(Calendar)

1. Basics of management theory. Management principles. Management and entrepreneurship, similarities and differences. Economic units. (Lecture - 2 hours)
2. Agriculture as an economic sector. (Lecture - 1 hour)
3. Agricultural enterprise. (Lecture - 1 hour)
4. Extensive, intensive and rational manufacture. (Lecture - 1 hour)
5. Production specialization and diversification in an agricultural enterprise. (Lecture-1 hour, practical work - 4 hour)
6. Division of productive resources, their nature and importance in farming (Lecture- 1 hour)
7. Natural (land) resources. Analysis of land use patterns on a farm. (Lecture- 1 hour, practical work - 2 hours)
8. Capital, its essence and division – fixed capital, working capital, its characteristics. (Lecture- 1 hour)
9. Human resources. Labour and work. Productivity and labour intensity. (Lecture- 1 hour)
10. Production costs and their formation. Economic and accounting profit generation in a company. (Lecture- 1 hour, practical work - 4 hours)
11. Calculation of opportunity costs. (Practical work– 2 hours)
12. First test. (1 hour)
13. Determining the profitability of farming. Gross margin, its calculation. (Lecture- 3 hours, practical work - 4 hours)
14. Break even point (Lecture- 1 hour, practical work - 1 hour)
15. Conditions for the establishment of a production plan for the crop sector. (Practical – 6 hours)
16. Conditions for the establishment of a production plan for the crop sector. (Practical – 2 hours)
17. Livestock movement schedule. (Practical work – 4 hours)
18. Second test. (1 hour)
19. Development of a production plan with a computer program for the farm. (Practical work - 12 hours)
20. Presentation and analysis of the production plan. (Practical work - 6 hours)

Examination – all the topics (for full-time students- during individual studies and tests, for part time students- during the examination period).

Requirements for awarding credit points

Examination.
The final mark consists of the following pieces of assessment:
• two tests (maximum 20 points; 10 points each);
• development and presentation of a production plan for an agricultural holding (30 points);
• examination for all the topics (40 points);
• activity during lectures (5 points);
• registered lecture attendance (5 points).
A score of 10 is equal to one point on a 10 - point marking scale.

A production plan must be developed and defended before taking the examination.

Description of the organization and tasks of students’ independent work

Studies of various information materials and communication with farm managers (representatives) on the development of a production plan for an agricultural holding.
Development and presentation of a production plan.
Preparing for tests.

Preparing for the examination.

Criteria for Evaluating Learning Outcomes

The examination mark is cumulative.

Compulsory reading

1. Saimniekošanas mācība: mācību līdzeklis. A.Dobele, L.Mihejeva, K.Špoģis, A.Vedļa, U.Viekals, A.Asejeva, I.Upīte. Ozolnieki: LLKC. 1999. 344 lpp.
2. Auziņa A., Dobele A., Mihejeva L., Upīte I. Praktikums lauksaimnieciskajā komercdarbībā. Rīga: KIF Biznesa Komplekss. 2000. 168 lpp. [Izdevumu sērija: Lauku uzņēmējs]
3. Dobele A. Saimniekošanas mācība: metodiskie norādījumi un darba burtnīca Ekonomikas un sabiedrības attīstības fakultātes studentiem. Jelgava: LLU. Elektroniskais resurss e-studijās.
4. Hoff K. G. Biznesa ekonomika. Kjells Gunnars Hofs sadarbībā ar Rasmu Alsiņu. Rīga: Jāņa Rozes apgāds. 2011. 603 lpp.

Further reading

1. Pilvere I., Nipers A., Sisenis L., Krieviņa A. Minimālās platības saimniecību ilgtspējīgai saimniekošanai lauksaimniecībā un mežsaimniecībā: zinātniska monogrāfija. Jelgava: Latvijas Lauksaimniecības universitāte, 2016. 112 lpp.
2. Bobiţ D. M. Entrepreneurship in rural areas through the production and exploitation of medicinal and aromatic plants: manual. D.M.Bobiţ, M. Ciufu, V. Ghinea, L. Līcīte, A. Muška [un vēl 4 autori]. Jelgava: Latvijas Lauksaimniecības universitāte, 2018. 255 p.
3. Kučinskis J. Kooperācijas attīstība Latvijā un pasaulē: idejas, vēsture, perspektīvākie attīstības virzieni. Rīga: AS Lauku Avīze, 2004. 335 lpp.
4. Popluga D., Muška A., Paula L., Līcīte L. Education in rural entrepreneurship: thraugh producing and valorizing herbs that are endangered or available only from spontaneous flora. Jelgava: Latvijas Lauksaimniecības universitāte, 2018. 33 p.
5. Pilvere I., Nipers A. Lauksaimniecības un meža zemes Latvijā: izmantošanas potenciāla analītisks izvērtējums: zinātniska monogrāfija. Jelgava: Latvijas Lauksaimniecības universitāte, 2015. 245 lpp.

Periodicals and other sources

1. Lauksaimniecības bruto seguma aprēķini. Periodisks izdevums. LLKC, Ozolnieki.
2. AgroPols: informatīvs lauku politikas biļetens-aktīvam lauku saimniekam. Rīga: Latvijas Valsts agrārās ekonomikas institūts, 2001 -. ISSN 1407-8996.
3. Saimnieks LV: lauksaimniecības nozares komercžurnāls. Rīga: Saimnieks LV. ISSN 1691-1598
4. Latvijas Avīze. Rīga: Lauku Avīze, 2003. ISSN 1691-1229
5. Agro Tops. Rīga: Aģentūra Agro apgāds. ISSN 1407-5164
6. Praktiskais Latvietis. Rīga: AS Latvijas mediji, ISSN 1407-3358
7. Lauku Lapa. Ozolnieki: Latvijas Lauku konsultāciju un izglītības centrs.
8. Latvijas Lauku konsultāciju un izglītības centrs. Pieejams: http:// www.llkc.lv
9. Lauku atbalsta dienests. Pieejams: http://www.lad.gov.lv
10. Latvijas Zemkopības ministrija. Pieejams: http://www.zm.gov.lv

Notes

Restricted elective course (Part B) for the ESAF academic bachelor programme Economics.

Field professional specialization course for the ESAF professional bachelor programme Entrepreneurship and Business Management