Course code Ekon2368
Faculty Faculty of Business, Management and Economics, Faculty of Humanities
Credit points, number of lectures
Credit points ECTS Credit points Total number of auditorium hours Number of lecture hours Number of seminars and practical work hours Number of student independent work hours
4 6 64 32 32 96
E-courses 2EKO2950-LV-PLK: Theory of Finances 2EKO2950-EN: Theory of Finances 2EKO2950-LV-NLK: Theory of Finances
Course annotation The aim of the study course is to acquire the essence of finance and its role in the economy. Get acquainted with financial relations spheres and terminology. To study the financial relations' analysis and evaluation as well as practical application - planning and accounting skills. Explain the impact of financial instruments on economic development, the peculiarities of their application in different economic conditions. To get acquainted with the state budget, as the main element of the financial system, to find out the main financial institutions in Latvia. Clarify the concept of financial holding, financial policy, non-core and civil insurance, corporate finances, state and municipal finances and household finance, the use and essence of their theoretical basis. Acquire skills, critically evaluate and be able to use financial instruments to achieve various goals.

Main tasks:
1) to understand the financial system
2) to be able to use acquired knowledge for the acquisition of further courses.

The languages of instruction are Latvian and English.
Course responsible lecturer Elvīra Zelgalve
Results Knowledge
1. Students have gained an in-depth understanding of the finances of the state, commercial companies and households, their theoretical concepts and practical manifestations, as well as knowledge of the Latvian financial system.
2. At the end of the study course students have acquired theoretical and practical knowledge, which will allow them to use in the next academic training and professional work.
3. To gain a comprehensive understanding and deepen theoretical knowledge of finance, its essence and necessity.
4. Acknowledges the essence, content of the financial system, analysis of the current situation, its necessity and its use.
5. Is able to assess the finances of state, korporative and households and identify the necessary tools and opportunities for problem solving.
6. Acquire the necessary knowledge in order to be able to analyze and evaluate the development of the budget opportunities in the company, its progress towards business excellence.

7. Students are better able to orient themselves in financial problems and solve them in Latvia.
8. To formulate the results of their research, students are able to clearly present and reasonably defend their views
9. Is able to identify and eliminate financial risks.
10. Students are able to master other subjects of the program more successfully and explain their interrelationships.
11. Students are able to independently analyze and evaluate the state, company and household budget, find the most appropriate solutions, and apply the acquired skills in practice.

12. Students are able to independently compare, analyze and evaluate financial systems, problems and find possible solutions.
13. Students understand the financial plans, the significance of the data obtained, their practical application.
14. Students can clearly understand the results of their research and justify their opinions.

15. Competence is tested in tests, examination, as well as assessment of students in self-contained practical work presentations.
Course plan No. Topic Planned amount in hours
1. Financial system: nature and content L6+S4=10
2. State and municipal finances L6+S6=12
3. Corporate Finance L4+S6=10
4. Insurance Finance L6+S6=12
5. Household Finance L4+S4=8
6. International Finance L6+S6=12
Total L32+S32 =64

L - lecture,
S - seminar
Requirements for obtaining credit points Lecture attendance required, attendance of workshops (practical classes) - obligatory
Mid-term assessment:
1) 1st test 15% of the final grade
2) 2nd control work 15% of final evaluation
3) Independent work 10% of final evaluation
4) Activity in seminars 30% of final evaluation
Final assessment;

Course exam (written) - 30% of the final grade
Study programmes Business Administration
Financial Management
Business Administration
E-Business and Logistics Management Systems
Accounting, Analysis and Audit
International Economic Relations
Modern Language and Business Studies