Course code EkonP196
Faculty Faculty of Education, Psychology and Art, 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 2EKOP196-EN-PLK: Microeconomics 2EKOP196-EN-NLN: Microeconomics 2EKOP196: Microeconomics
Course annotation The purpose of the course is to give students knowledge of the motivation of the consumer and the manufacturer, in the economic decision-making process, relevant relationships, terms and to demonstrate the interaction of these decisions and the coordination of plans on the market.

The aim of the course is to show the main factors affecting demand and supply, the nature and flexibility of their effects, as well as different market models, price formation and profit maximisation opportunities.


The language of instruction are Latvian and English.

Course responsible lecturer Jānis Priede
Results Knowledge:
1. explain the mechanisms of the market
2. explain market behavior of consumers and producers
3. explain the types of market competition

Skills:
4. analyze the main factors influencing demand and supply
5. Analyze manufacturers' optimal choice of resources
6. analyze problems related to market competition

Competence:
7. calculate and evaluate market equilibrium and price elasticities
8. calculate production costs

9. assess and determine profit maximization opportunities in different types of markets
Course plan 1. Introduction to microeconomics L2; S2
2. Household goods demand L2; S2
3. Consumer goods supply L2; S2
4. Demand and supply elasticity L2; S2
5. Market equilibrium L2; S2
6. Household consumption theory L4; S4
7. Production theory L2; S2
8. Cost theory L4; S4
9. Perfect competition market L4; S4
10. Monopoly L4; S4
11. Monopolistic competition and oligopoly market L4; S4

L - lecture;
S - seminar
Requirements for obtaining credit points Interim assessment:
1. Practical assignments - 25%
2. Tests - 45% (3 tests - each 15%)
Final assessment:

3. Written exam - 30%
Study programmes Secondary Education Teacher of Economics in
Business Administration
Economics
Financial Management
Business Administration
Secondary Education Teacher of Economics
E-Business and Logistics Management Systems
Insurance and Finance
International Economics and Commercial Diplomacy
International Economics and Commercial Diplomacy
Accounting, Analysis and Audit
Modern Language and Business Studies