Course code Ekon3149

Credit points 3


Total Hours in Course81

Number of hours for lectures16

Number of hours for seminars and practical classes16

Independent study hours49

Date of course confirmation22.02.2023

Responsible UnitInstitute of Economics and Finance

Course developer

author Ekonomikas un finanšu institūts

Sandija Zēverte-Rivža

Dr. oec.

Course abstract

Students acquire knowledge and understanding of the creative and digital economy globally, in the EU and Latvia. Students learn the stages of economic development and the concept of digital transformation; they study the aspects of elaboration of innovative products and processes and their introduction into the market and an enterprise. Students get to know the aspects of intellectual property protection in the field of creativity and digitalization. The course provides a comprehensive overview of digital tools used overall and specific digital solutions applied in the particular sectors of the bioeconomy, public administration and society, thus allowing the students to understand advantages and risks to the employment of various digital tools.

Learning outcomes and their assessment

Demonstrate knowledge of economic development trends related to digitalisation – discussion, test.
Demonstrate knowledge of digital technology development trends, digital technologies and their application - group assignment, presentation, test.
Demonstrate knowledge of use of digitalization technologies in entrepreneurship, public administration and society - group assignment, presentation, test (about the field trip).
Demonstrate knowledge of intellectual property protection and cyber security - discussion and practical work in class.
Ability to identify trends and regularities in the creative economy and digitalisation – discussions in classes, individual and group assignments, presentations.
Ability to identify the potential of digitalization in entrepreneurship, public administration and society – discussions in classes, test (about the field trip), individual and group assignments, presentations.
Ability to constructively analyse the use of digitalization solutions in entrepreneurship, public administration and society – discussions in classes, test, individual and group assignments, presentations.
Ability to practically apply the knowledge gained in the course – test (about the field trip).
Ability to independently structure their own learning to complete the assignments given – individual and group assignments, presentations.
Ability to work in a team and take initiative – group assignment, presentation.
Knowledge and abilities to develop a useful strategy and proposals for the introduction of digital technologies into entrepreneurship, public administration and society – discussions in classes, group assignment, test (about the field trip), individual assignment, presentations.
Abilities to assess the advantages, risks and economic effects of digitalisation – discussions in classes, group assignment, test (about the field trip), individual assignment, presentations.

Course Content(Calendar)

In full-time studies:
1. Economic development, stages of development and their characteristic features, trends and conditions of modern economic development. The directions of economic development determined by the current market situation. Knowledge-based economy, added value. The importance of creativity in overall economic development. Digitization and digital transformation. (Lectures 2 hours; practical work 2 hours)
2. Creativity and digitization – creation of new products and business models by introducing digital solutions. Creative economy, trends and topicality of creative economy in the world, EU and Latvia. Involvement of creative industries in the creation of new digital products and services in other sectors of the national economy. Digital solutions for increasing economic efficiency, competitiveness and exportability. (Lectures 2 hours; practical work 2 hours)
3. Digitization and digital technologies, their classification and application. Cloud computing, artificial intelligence, Internet of Things (IoT), augmented reality, etc. technologies. Examples of the use of digital technologies in economic sectors. (Lectures 2 hours; practical work 2 hours)
4. Digitization and digitization solutions in business, administration and society, examples of good practice and technological development. The use of digital technologies in the world, in the EU and in Latvia for the provision of various functions in primary production, processing and product realization, as well as in administrative work and communication. Conditions and economic motivation for the development and implementation of products, processes and services based on the use of digital technologies. (Lectures 2 hours; study tour 2 hours)
5. Integration of digital technologies and systems. Creating traceable chains, using blockchains in the bioeconomy. Benefits and key issues. Digitization in food production, food chain integration, food safety and traceability, incl. use of blockchains. The role of digitization in overcoming the challenges of food production. (Lectures 2 hours; practical work 2 hours)
6. Use of sensors, robots and drones. Big data, its collection, analysis, importance of data mining in various industries and monetization. General digitization trends and the specifics of the implementation of digitization technologies in business, administration and society. (Lectures 4 hours; practical work 1 hour, test 1 hour)
7. Benefits and risks of digitization. Conditions and motivation for the development and implementation of new products, aspects of the protection of intellectual property rights in the field of digitization. Copyrights, patents, designs, trademarks, etc. types of intellectual property protection. Cyber security, data management and data security. (Lectures 2 hours; practical work 4 hours)

In part-time studies:
All topics indicated for full-time studies are implemented, but the number of contact hours is 1/2 of the indicated hours for full-time studies.

Requirements for awarding credit points

Group assignment and a presentation of the assignment, test about the field trip and test about digital transformation and digital technologies, individual assignment and its presentation.

Description of the organization and tasks of students’ independent work

Independent work individually and in a group is elaborated according to the directions provided in e-study system for this study course and presented during the practical work.

Criteria for Evaluating Learning Outcomes

10 points corresponds to 1 grade in a scale of 10. Total maximal amount of points is 100 and they are distributed as follows: Group assignment, a presentation 30 points; test about the field trip 10 points; test about digital transformation and digital technologies 30 points; individual assignment and presentation 30 points.

Compulsory reading

1. Industry 4.0. Current Status and Future Trends. (2020) Red. Ortiz J.H. IntechOpen, p.134. Pieejams:
2. Park S., Gonzalez-Perez M., Floriani D. (2021) The Palgrave Handbook of Corporate Sustainability in the Digital Era. Switzerland: Palgrave Macmillan, p. 872, ISBN: 978-3-030-42414-5
3. Koukios E., Sacio-Szymańska A. (2021) Bio # Futures: Foreseeing and Exploring the Bioeconomy. Switzerland: Springer Nature Switzerland AG, p. 644, ISBN: 978-3-030-64968-5

4. Howkins J. (2013) The Creative Economy: How People Make Money from Ideas. Penguin UK, p. 288, ISBN-10‏: ‎ 0141977035

Further reading

1. 25 stāsti par bioekonomikas inovācijām Baltijas jūras reģionā. (2020) RDI2CluB, 48 lpp., ISBN: 978-9934-8940-0-8. Pieejams:
2. Trendov N.M., Varas S., Zeng M. (2019) Digital Technologies in Agriculture and Rural Areas. Briefing paper. Food and Agriculture Organization of the United Nations, p. 26. Pieejams:

3. Furseth Peder I. (2016) Innovation in an advanced consumer society: value-driven service innovation. Oxford: Oxford University Press, p. 190.

Periodicals and other sources

1. Digital Transition, European Comission. Pieejams:
2. Latvijas Republikas Patentu valde. Pieejams:
3. European Patent office. Pieejams:

4. Autortiesību un komunicēšanās konsultāciju aģentūra / Latvijas Autoru apvienība. Pieejams:


Restricted elective course for the ESAF academic bachelor programme Economics, specialization Sustainable Economy and Territorial Development.