| Course title | Business Economics |
| Course code | VadZ4062 |
| Credit points (ECTS) | 6 |
| Total Hours in Course | 162 |
| Number of hours for lectures | 32 |
| Number of hours for seminars and practical classes | 32 |
| Independent study hours | 98 |
| Date of course confirmation | 19/11/2019 |
| Responsible Unit | Institute of Business and Management Science |
| Course developers | |
| Mg. paed., pasn. Laura Joma |
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| Prior knowledge | |
| Ekon1024, Microeconomics Ekon2108, Management of Innovation Ekon2121, Macroeconomics Ekon2128, Globalization of Business Ekon3080, Market Analysis and Forecasting Ekon3115, Marketing Ekon3116, Financial Management Soci2036, Sociology VadZ1018, Business Information Management VadZ2028, Economic Management Studies VadZ2031, Entrepreneurship Legislation |
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| Course abstract | |
| Students acquire knowledge of the nature of business, the business environment, business resources, small and medium-sized businesses and business analysis methods. Students build up an understanding of the role of capital and investment in business development, gain practical skills in starting a business, planning and identifying opportunities for development. Students also acquire skills to plan and forecast enterprise performance according to the goal set and taking into account the economic environment, the labour market situation and other factors and risks. | |
| Learning outcomes and their assessment | |
| 1.Demonstrate the knowledge and understanding of business economics and analysis – Examination
2.Demonstrate the knowledge and understanding of the concepts of businessperson, entrepreneur, entrepreneurial ability and enterprise – Examination 3.Demonstrate the knowledge and understanding of opportunities to use government support instruments – Examination 4.Demonstrate the knowledge and understanding of business environment factors and the indicators and the methods for identification of the factors - Examination, independent work and practical assignments 5.Demonstrate the knowledge and understanding of the role of capital in planning business development opportunities - Examination, independent work and practical assignments 6.Demonstrate the knowledge and understanding of the forms of business cooperation and concentration - Examination, independent work and practical assignments 7.Demonstrate the knowledge and understanding of the factors affecting the start-up of a business in Latvia - Examination, independent work and practical assignments 8.Select and apply a proper method for an analysis of business environment factors - Independent work and practical assignments 9.Analyse and substantiate trends in business factors based on statistical data - Independent work and practical assignments 10.Analyse, describe and argue business development in Latvia - Independent work and practical assignments 11.Describe the environment for an enterprise and the factors affecting it - Independent work and practical assignments 12.Choose, describe and justify a location for a business - Independent work and practical assignments 13.Identify and describe business resources and their effects on innovation and growth in small and medium-sized enterprises - Independent work and practical assignments 14.Responsibly plan the completion of the assignments given - Independent work and practical assignment 15.Present their own or/and collective opinions - Independent work and practical assignment 16.Independently acquire, process and use information to create a presentation on a specific topic - Independent work and practical assignment 17.Analyse and assess the business environment and identify the factors affecting it - Examination, independent work and practical assignments 18.Plan and forecast the effective performance of an enterprise in line with the objectives set and the business environment - Examination, independent work and practical assignments 19.Perform an economic feasibility analysis for planning business development opportunities - Examination, independent work and practical assignments 20.Analyse the business environment by applying proper methods - Examination, independent work and practical assignments |
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| Course Content(Calendar) | |
| 1. The nature of the business economy and its analysis. (lecture – 2 hours, practical – 2 hours)
2. Business, business and susceptibility. (lecture – 2 hours, practical – 2 hours) 3. Company and business environment. (lecture – 2 hours, practical – 2 hours) 4. Business institutional environment. (lecture – 2 hours) 5. External environmental factors affecting business and their indicators. (lecture – 2 hours, practical – 4 hours) 6. Internal environmental factors affecting business and their indicators. (lecture – 2 hours, practical – 4 hours) 7. The role and support of public administrations in business. (lecture – 2 hours) 8. Organization, institution and company in the business environment. (lecture – 2 hours) 9. The role of sociological research in the analysis of the business environment. (lecture – 2 hours, practical – 1 hour) 10. Business start-ups and the factors that influence them. (lecture – 2 hours, practical – 2 hours) 11. Company location: nature, necessity. (lecture – 2 hours) 12. Opportunities for business development in Latvia. (lecture – 2 hours, practical – 3 hours) 13. Business resources. (lecture – 2 hours, practical – 1 hour) 14. The role of capital in planning business development opportunities. (lecture – 2 hours, practical – 4 hours) 15. Economic rationale for planning business development opportunities. (lecture – 2 hours, practical – 2 hours) 16. Cooperation between economic operators and the description of the forms of concentration. (lecture – 2 hours) |
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| Requirements for awarding credit points | |
| Exam. The Mark consist of:
•40% exam in the Moodle system on the theoretical substance acquired in the course of study; •20% independent and practical work and presentation of an analysis of environmental factors for enterprise X •15% independent and practical work and presentation of an analysis of the factors affecting the star-up of enterprise X •20% independent and practical work and presentation of development opportunities for enterprise X •5 % registered attendance. 10% are equal to one point on a 10-point marking scale. A mark of at least 4 has to be acquired in the practical works, seminar, test must be credited positive. |
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| Description of the organization and tasks of students’ independent work | |
| Studies of Internet materials on statistics, trends and economic theories in economic sectors. Preparing for the exam. |
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| Criteria for Evaluating Learning Outcomes | |
| The examination assessment shall be the accumulating mark from the assessments of the study course and the re-examination of the examination. | |
| Compulsory reading | |
| 1.Hofs K.G. Biznesa ekonomika. 3.izdevums. Rīga, SIA J.Rozes apgāds, 2019., 602 lpp.
2.Sekaran U., Roger B. Research methods for buisness. A skill- building approach. Fifth edition. A John and Sons, Ltd, Publications, 2010, 468 lpp. 3.Muška A. Uzņēmējdarbības pamatkurss. Rīga, KFI „Biznesa Komplekss”, 2005., 93 lpp. |
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| Further reading | |
| 1.Laikraksta „Latvijas Vēstnesis” mājaslapa // www.lv.lv
2.Latvijas Vēstnesis. Latvijas Republikas oficiālais izdevums. Pieejams: https://www.vestnesis.lv/ 3.Latvijas Ministru kabineta mājaslapa. Pieejams: http://www.mk.gov.lv; |
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| Periodicals and other sources | |
| 1.Scopus datubāze. Pieejams: https://www.scopus.com
2.Web of Science datubāzes. Pieejams: https://apps.webofknowledge.com 3.ScienceDirect Freedom Collection datubāze. Pieejams: https://www.sciencedirect.com |
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| Notes | |
| Field professional specialization course (Part B3) for the professional Bachelor study program “Entrepreneurship and Buisness Managment” specialization branche “Buisness Managment” | |