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Agrarian and Regional Economics

Course developers

Course abstract

The course consists of 4 blocks: micro and macroeconomics, agrarian economics, regional economics, and business. The course is designed so that doctoral students, after completing this course, would have the highest level knowledge, as well as new and expanded understanding on the most important micro- and macroeconomic processes; content of agrarian economics and newest topicalities in the context of bioeconomy, common agricultural policy, land use and production efficiency improvement; content of regional economics and causes and consequences of regional economic differences, opportunities for driving regional economic development, the harmonization of interests of regional development and institutional provision; trends and challenges of sustainable entrepreneurship, as well as topical issues in the field of business finance. As a result of the course the doctoral students develop skills of evaluation and synthesis of information in various fields of economics, as well as develop basis of specialized theoretical knowledge that is necessary for the development of qualitative research work.

Learning outcomes and their assessment

Knowledge – the highest level knowledge of the latest micro and macroeconomic processes, as well deep understanding of the regularities in contact with other economic sectors; advanced and specialized knowledge of theoretical and practical aspects of agrarian economics and the latest developments in this field; the highest level understanding of the content of regional economics and the most important challenges in this field; demonstrate a thorough knowledge and critical understanding of entrepreneurial and financial matters and the latest developments in this field.
Knowledge is assessed by the following methods: problem case studies, discussions in a group, an examination; problem-solving, group work.
Skills – aggregate, analyse and synthesise, critically assess and systemise information on the problems researched by agrarian and regional economics, micro and macroeconomics as well as management.
Skills are assessed using the following method: an examination.
Competences - critically assess the complex nature of matters and regularities of agrarian and regional economics, micro and macroeconomics as well as management, which creates a specialized theoretical basis for further research; define and generate innovative and original solutions to problems and challenges in the field of agrarian and regional economics, which creates the basis for the development of new ideas in research.
Competences are assessed by the following methods: case studies, discussion, examination, group work.

Course Content(Calendar)

Agrarian economics
1. Characteristics of recent development trends of the agrarian sector primary sphere.
2. Characteristics of recent development trends of the agrarian sector secondary sphere.
3. Development perspectives of the agrarian sector, its place and significance in the economy of Latvia.
4. Possibilities and problems for the efficient use of agricultural sector resources.
5. Role of bioeconomy in development of agrarian sector.
6. Characteristics of agricultural goods market and its possible development in Latvia, the EU and the world.
7. Evaluation and development of financial instruments available for the development of agriculture in Latvia.
8. Financial instruments affecting rural development and their problematic aspects in Latvia.
9. Assessment of indirect support instruments in agriculture (tax credits, refunds and customs duties - tariffs etc.), their development trends.
10. Agricultural and rural development policy in Latvia, its legal and regulatory framework and institutional system.
11. Characteristics of unconventional agricultural sectors, their place and significance in rural socio-economic development.
12. Cooperation trends in the development of agrarian sphere in Latvia.
13. Recent development trends of the EU Common Agricultural Policy and its synergy with other policies in the EU and Latvia.
14. Problematic aspects and development trends of the EU Common Agricultural Policy funding.
15. Possible development of the EU Common Agricultural Policy after 2013.
16. Solvency assessment of the agriculture sector commercial companies, problems and solutions.
17. Credit worthiness evaluation of the agriculture sector commercial companies, problems and solutions.
18. State aid financial instruments for the agrarian sphere business companies, their application methods, problems and solutions.
19. Financial risks of agriculture and forestry sector enterprises, their assessment methods and possibilities for diversification.
Regional economics
1. The notion of regional science and regional economics. Theories and concepts of regional economics.
2. The institutional framework of regional economics. The role of state and local governments in the establishment and development of regional policy and regional economy.
3. The European Union’s regional policy. Aims, principles and objectives of the EU regional policy.
4. Financial basis of regional development. Funding of local, national, the European Union and community initiative programmes, their interrelation.
5. Economic assessment of the use of the EU Structural Funds for regional development, risks and improvement of monitoring mechanisms.
6. The regional development implementation policy in Latvia. Specially supported areas. Decentralised and polycentric development.
7. The role of tax and duty system in the regional economy, methods for assessment of its impact, problems and solutions.
8. Legal regulation of territorial economic development in Latvia and the European Union. The most important legal and regulatory enactments and their analysis.
9. Administrative territories, statistical and planning regions of Latvia. The administrative territorial reform in Latvia. The impact of reform on the territorial development, its evaluation.
10. Socio-economic development indicators of Latvia’s regions, their change trends and correlations (+ Territorial development index. Methodology for determination of the territorial development index, its application possibilities).
11. Stratification of territorial units in Latvia and in the world. Fragmentation indexes of the development factors. Regional competitiveness.
12. Strategy and planning of the regional development. Regional and territorial development planning documents.
13. The role of public and private partnership in the regional economy. Networking between local authorities, higher education and research institutions, social partners and companies.
14. The concept of sustainable development in regional economy. Key dimensions of sustainable territorial development and the main problems from a regional economic perspective.
Microeconomics and macroeconomics
1. Economic rationalism and its expression in consumer behaviour.
2. Inflation, its types and impact on the economic development.
3. Concepts of modern inflation and correlation between inflation and unemployment.
4. The asymmetry of information in the new economy.
5. Economic growth theories and characteristics of the economic growth in the countries of different income level.
6. Correlation between the economic cycle and innovation.
7. Development trends of production factors market.
8. The world market impact on the national economy.
9. Macroeconomic models, their historical, contextual and comparative analysis.
10. The role of government in the market economy.
11. A company’s loss from the supply operation of the monopoly, its regulation by the state.
12. Monetary policy and instruments for its implementation. The Maastricht criteria and their performance assessment in Latvia.
13. Basic principles of the fiscal policy, the state budget and the government debt. Trends in the European Union countries.
14. Directions of the fiscal policy and possibilities of its application for the promotion of regional development and economic growth.
15. The comparative advantages of export and import in the national economy.
16. The structure of modern export nowadays. Differences in the developed and developing countries.
17. The impact of international lending on the national economy.
18. Characteristics of the Latvian long-term development strategy.
19. Stability of socio-economic systems and their influencing factors.
Business
1. Business sustainability development trends and problems in the regions of Latvia.
2. Business process planning methods, their characteristics and assessment of possibilities for their practical application.
3. The role of government and the state aid for sustainable business development.
4. The diversity of the forms of business, their pros and cons and development forecasts.
5. SME development problems and opportunities for the promotion of their development.
6. The main factors causing business crisis, their causes and consequences.
7. Insolvency and possibilities for its solution.
8. Recent trends and methods of risk management, evaluation of the advantages and disadvantages of their practical application.
9. Anti-risk measures, their development trends and forecasts for the future.
10. Co-operation and integration of sustainable business development.
11. Trends and forecasts for the development of competitiveness success.

Requirements for awarding credit points

An examination should be passed.

Description of the organization and tasks of students’ independent work

The PhD student is preparing for the exam independently by performing a profound research of the exam questions received both in the theoretical aspect and the situation assessment of Latvia and the EU, and in case of necessity – in the world.

Criteria for Evaluating Learning Outcomes

The assessment of the study course consists of an examination mark. In order to pass the exam, the PhD student conducts in-depth research on three questions - one from the microeconomic and macroeconomic block, and the other two from the topic in which the PhD student is developing the dissertation. In the exam, the PhD student demonstrates not only theoretical skills, but also the ability to collect, summarize, analyze and systematize information on the questions asked.
The exam is graded on a 10-point scale, if the grade is less than 4, the exam is not passed.

Compulsory reading

1. Capello R. Regional Economics 2nd Revised edition. New York: Routledge, 2016. 354 p.
2. Bikse V. Makroekonomika: teorija un politika. Liepāja: Liepājas Universitāte, LiePa, 2015. 269 lpp.
3. Jaunzems A. Mikroekonomika: teorija un analīze. Ventspils: Ventspils Augstskola, 2013. 899 lpp.

Further reading

1. Williamson S.D. Macroeconomics 6th edition. Harlow: Pearsons Education Limited, 2018. 729 pp.
2. Kutuzova O. Finanses un kredīts. Rīga: Turība Biznesa Augstskola SIA, 2012. 248. lpp.
3. Siltumnīcefekta gāzu emisiju samazināšanas iespējas ar klimatam draudzīgu lauksaimniecību un mežsaimniecību Latvijā: Monogrāfija. Galv. Red. P. Rivža. Jelgava: LLU, 2018, 304 lpp.
4. Roorda N. Fundamentals of Sustainable Development. 2nd edition. New York: Routledge, 2017. 382 p.

Periodicals and other sources

1. Kapitāls: žurnāls lietišķiem cilvēkiem, krāsains biznesa un ekonomikas žurnāls. Rīga: SIA Izdevniecība IKK. ISSN 1407-2505
2. AS Attīstības finanšu institūcija ALTUM - https://www.altum.lv/lv/pakalpojumi/uznemumiem/
3. Bioekonomikas zināšanu centrs - https://biobs.jrc.ec.europa.eu/
4. Eiropas Komisija - https://ec.europa.eu/research/bioeconomy/index.cfm
5. Latvijas Investīciju un attīstības aģentūra - http://www.liaa.gov.lv/lv/fondi/2014-2020
6. Latvijas Republikas tiesību akti - www.likumi.lv
7. Latvijas Lauskaimniecības universitāte - http://www.llu.lv/lv/bioekonomika
8. Ziemeļeiropas bioekonomika - http://www.norden.org/en/theme/nordic-bioeconomy
9. Reģionālās attīstības indikatoru modulis - www.raim.gov.lv
10. Latvijas Republikas Zemkopības ministrija - www.zm.gov.lv

Notes

Science sub-field special course for PhD programme “Agrarian and regional economy”