Course code Ekon2117
Credit points 2
Total Hours in Course80
Number of hours for lectures16
Number of hours for seminars and practical classes16
Independent study hours48
Date of course confirmation19.06.2019
Responsible UnitInstitute of Economics and Finance
Mg. oec.
Ekon1023, Microeconomics
The course focuses on analyses of economic problems at national economy level to build up an understanding of macroeconomic indicators and principles, taking into account the matters of monetary and fiscal policies, GDP formation principles and the consequences of macroeconomic disequilibrium
Students will be able to demonstrate:
KNOWLEDGE of
macroeconomic indicators, key macroeconomic problems and relevant regularities; transactions contributing and not contributing to GDP, GDP calculation approaches, nominal and real GDP – a test; aggregate demand and supply in the economy, the types of macroeconomic equilibrium and the consequences of disequilibrium; the types of fiscal and monetary policies and policy instruments for regulating economic processes - discussions and group work.
SKILLS to
independently select, critically compare economic indicators and draw reasoned conclusions; graphically represent a macroeconomic equilibrium and identify the consequences of disequilibrium, perform real and nominal GDP calculations – a test;
come up with reasoned assertions and critically analyse a current situation, make forecasts of urgent economic problems and identify relevant regularities; comprehend fiscal and monetary policy instruments, policy making and its role in regulating economic processes.
COMPETENCES to
independently analyse macroeconomic indicators, express the opinion on problems and regularities in the national economy; describe macroeconomic processes, analyse and calculate key economic indicators and identify relevant regularities at macroeconomic level – a presentation.
1. Introduction – 2 h (1 h lecture, 1 h practical)
2. Basic macroeconomic indicators - 5 h (3 h lectures, 2 h practicals)
3. Test – 1 h
4. Macroeconomic equilibrium and stability – 4 h (2 h lectures, 2 h practicals)
5. Employment and unemployment – 3 h (2 h lectures, 1 h practical)
6. Inflation – 3 h (2 h lectures, 1 h practical)
7. Fiscal policy – 3 h (2 h lectures, 1 h practical)
8. Banking and money – 3 h (2 h lectures, 1 h practical)
9. International economic relations – 2 h (1 h lecture, 1 h practical)
10. Economic growth – 2 h (1 h lecture, 1 h practical)
11. Presentation 4 h (4 h practicals)
A test must be passed and a report must be presented and defended within the time specified. The student must take an active part in group work and discussions during practicals.
A comparison of economic indicators for Latvia and EU Member States, an assessment of the macroeconomic situation and a comparison of basic economic indicators. Fiscal and monetary policies.
The final mark consists of the following pieces of assessment: a test 20%, a presentation 20%, discussions and group work 10% and an examination 50%.
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3. McConnell, Campbell R. Macroeconomics: principles, problems, and policies. New York: McGraw-Hill/Irwin, 2012., 499 p.
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9. Sordet, Bernard. Iespējamā Eiropa /Bernard Sordet ; no franču valodas tulkojusi Kristīne Našeniece. Rīga: Mansards, 2014., 213 lpp.
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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.
General study course for the ESAF first-level professional programme Business Studies