Business Courses

CREDITS 3 ECTS - 32 Contact Hours

Objective of the course is to introduce the students to motivation of the consumers and producers, process of the economic decision making, explain the laws of supply and demand and analyze the main affecting variables, elasticity, different types of market, price setting and profit maximization.

CREDITS 3 ECTS - 32 Contact Hours

This course develops students’ ability to measure, record and communicate the financial information of the company. Being the first course in Accounting (and followed by Financial Accounting), Business Accounting provides an important base for the upcoming studies of the students. The course starts with recording accounting transactions and learning the principles and concepts of accounting, followed by preparing the financial statements, making adjustments to the financial statements and identifying the interconnection between the financial statements. The content of the course could be divided into two parts: recording the basic accounting transactions and preparing basic financial statements; and making adjustments to the financial statements. The two parts of the course are divided by the case study. The first part of the course is taught in a simpler and slower pace to establish a profound understanding of the basics of accounting. The second part of the course fully relies on the knowledge base as provided during the first part- the development and amount of studying material in the second part of the course are increasing fast. The students are strongly encouraged to study intensively from the very beginning of the course.

The course contains lectures and seminars. The lectures will cover the theoretical material and will be followed by practical seminars when the problems will be solved and solutions discussed and analysed.

The problems covered during the seminar are stated in the course outline of this course. To prepare for the upcoming seminar, students need to read the chapters stated in the course outline together with the review questions. The only way of learning accounting properly is to solve as many exercises as possible. During this course, we will combine both theory and problem solving to ensure the best grade for the course.

CREDITS 3 ECTS - 32 Contact Hours

Macroeconomics describes how economic systems work and explores issues such as: economic growth, business cycle, inflation, unemployment, investment, international trade and international capital mobility. Macroeconomics also analyses the interdependence between banks, financial markets and the real economy. The course will present all major macroeconomic variables and how they interact in the context of the global economy plus how the government via fiscal policy and the central bank via monetary policy can influence these variables. Latvia and economic policy in Latvia will be used extensively via examples.

CREDITS 3 ECTS - 32 Contact Hours

Being the continuation of Business Accounting, this course provides further knowledge in Financial Accounting, as well as the first insight into Management Accounting being key in the day-to-day business life. The course starts with the revision of the conceptual framework of accounting and the preparation of financial statements. The course further develops the aspect of analyses of the financial statements by adding the third financial statement- the cash flow statement as well as ratio analysis. The second part of the course introduces the internal focus of accounting- management accounting. The main aspect of the management accounting: costing and budgeting are in focus of the second part of the course. The two parts of the course are divided by the mid-term exam.
The course contains lectures and seminars. The lectures cover the theoretical material and are followed by practical seminars when the problems are solved and solutions discussed and analysed.
To prepare for the upcoming seminar, students need to read the chapters stated in the course outline. The lecture readings are stated in the course outline of this course. During this course, we will combine both theory and problem solving to ensure the best grade during the exam. Whatever career path students might be willing to choose knowledge obtained in this course will make them sophisticated users of financial information equipped for the decision-making process.

CREDITS: 3 ECTS | 75 Total Hours (32 Contact Hours + 43 Independent Studies)

The course is designed explicitly for non-marketing stream students to provide a concise yet comprehensive overview of the key marketing concepts and practices and hands-on tools used in activities performed by marketing managers. Topics include identifying market opportunities, consumer insights, strategic marketing planning, product/service development and management, managing marketing mix and distribution channels, and planning and executing promotional programmes.

The Risk Management course is designed to develop key risk management competencies that are essential within corporate and business environments. This course will equip students with knowledge and tools to enable them to apply practical skills in risk identification and management. The course provides an overview of how risk management frameworks work in practice and what challenges in managing the risk the companies are facing.

CREDITS 3 ECTS - 32 Contact Hours

A competent project manager must be able to handle four critical project components at the same time - resources, time, money, and scope - while also understanding how these elements are intrinsically connected. Each aspect is critical to the success of a project, and changes in one will always have an influence on the others. For example, an expansion in project scope may necessitate more resources, a larger budget, or a longer timeframe. To achieve success, the project manager must skilfully balance these aspects, ensuring that changes to one area are strategically coordinated with the others in order to preserve overall project health and meet objectives.

Managing these issues is a simultaneous activity that demands ongoing attention throughout the project's lifespan. The lifecycle, which includes initiation, planning, execution, monitoring, and closure, offers an organised framework for handling these components from beginning to end. Proper training provides project managers with the tools and strategies they need to traverse each phase successfully. It emphasises the significance of proactive issue resolution, clear communication, and constant monitoring to keep all aspects under control and stakeholders aligned.

Furthermore, initiatives have developed into crucial elements of the business process, functioning as vehicles for achieving strategic objectives, encouraging innovation, and providing value. Organisations are increasingly relying on well-executed projects to be competitive and operationally efficient. As a result, the function of the project manager is more important than ever, needing not only technical skill but also the ability to efficiently integrate projects into larger corporate goals.

To achieve these objectives, project managers must use practical tools such as Gantt charts, resource allocation software, and budgeting systems to efficiently manage resources, time, money, and scope. They must also be adaptive, since unforeseen obstacles frequently necessitate quick decisions and plan recalibration. Project managers may assure project success by using a comprehensive, lifecycle-driven strategy and communicating clearly with all stakeholders. This includes satisfying both organisational goals and stakeholder expectations.