Basics of Economics and Business (SUUK_226)
About Study Course
Objective
To develop understanding of the key issues facing the economy, both at micro and macro level, and to promote the acquisition of basic knowledge of the importance of entrepreneurship in the economy, business forms, legal aspects, work organization and financial planning.
Prerequisites
Secondary school level in basic economics, mathematics and statistics.
Learning outcomes
Students will know and understand the essence of economics and entrepreneurship, the role of the state in economics, will be able to describe the main economic goals and problems, will be able to name the main legal acts regulating entrepreneurship, explain the need of accounting, define basic accounting principles
Students will be able to compare common and different in micro and macro economics, evaluate the advantages and disadvantages of economic systems, analyze the behavior of market subjects, compare economic indicators of Latvia and other countries, explain the role of the state in economy, advantages and disadvantages, preparation of business plan, SWOT and PEST analysis.
Students will be able to evaluate the Latvian banking system, tax policy and budget, logically formulate and explain the impact of fiscal and monetary policy on the socio-economic situation in the country, evaluate the business environment in Latvia and its role in business promotion, assess risks and make decisions to mitigate and eliminate them.
