The latvian academy of culture

The Name of the Course: The Fundamentals of Economics

The Scope of the Course: 64 academic hours.

4 credit points. The form of assessment: an examination.

The Author of the Course: Lecturer Gatis Ķepītis, Mg.MSc.

Preconditions for the Acquisition of the Course: There are no preconditions for the acquisition of the course.

The Contents of the Course: To give the students basic knowledge about the basic notions of economics and their co-relations, acquaint the students with the most common terminology, so that they are able to follow and analyze the processes of economic character in Latvia and the world independently.
Thematic Planning:

Theme	Week	Type of classes and hours
The basic tasks of economics. Introduction to economics.		L2
The development and the basic tasks of economics.		L2
Supply and demand, the creation of prices.		L2
Expenditure, production and outlet.		L2
Money, its functions and types.		L2
Rate of interest.		L2
Banking system and financial market.		L2
International commerce.		L2
Rate of exchange.		L2
The flow of capital and investments.		L2
The main problems of economics.		L2
Inflation.		L2
Labour market and the problem of unemployment.		L2
The business cycles.		L2
The role of the state in economics.		L2
A test.		P2
Economics as a functioning system.		L2
The functions of the Central Bank.		L2
Monetary policy.		L2
The state budget and fiscal policy.		L2
Legislation regulating economics.		L2
Monopoly and competition, activities of protection of the market.		L2
Privatization and the public sector.		L2
The economic administration of the state and its institutions.		L2
International economic organizations.		L2
The pension system.		L2
Macroeconomic statistics.		L2
Regional policy.		L2
Competition of economic branches in Latvia and the world.		L2
Economic cooperation of the Baltic states.		L2
The social environment of economics.		L2
Short-term and long-term effects in economics.		L2

Requirements for the Acquisition of Credit Points: A successfully passed test and examination.

Literature:

Ekonomikas pamati, Dž. F. Stenleiks, Rīga: Zvaigzne ABC, 1997

Pārejas ekonomika: No plāna uz tirgu, A.J. Isaksens, K.B. Hamiltons, T. Gilfasons, Rīga: Zinātne, 1992

Ekonomika, Dace Vilne, Inta Birzniece, Rīga: Junior Achievement - Latvija, 1999

Tirgus, cenas, konkurence, Georgs Lībermanis, Rīga: Kamene, 1998

Peļņa kā uzņēmējdarbības motīvs, Georgs Lībermanis, Rīga: Kamene, 1999

Nauda. Inflācija, Georgs Lībermanis, Rīga: Kamene, 1999