Aim of the course is to provide knowledge and practical skills in preparation, research and evaluation of economic objects and usage of the results of this analysis for business management decisions. Topics cover qualitative and quantitative methods for analysis of an economic object by means of expert methods, forecasting models, spatial decision making and other approaches.
- Teacher: Mārtiņš Danusēvičs
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.
- Teacher: Jānis Priede
CREDITS 6 ECTS - 64 Contact Hours
The primary objective is to give the student an understanding of basic business principles. Global business, entrepreneurship, management, marketing, information technology, and financial management will be discussed.
- Teacher: Waleed Gumaa
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.
- Teacher: Nataļja Točelovska
CREDITS 3 ECTS - 32 Contact Hours
This course is designed to introduce students to the basic concepts and tools of mathematics and statistics. Topics include collection, processing and presentation of data, statistical measures of central tendency and dispersion, normal distribution, binomial distribution, sampling distribution, confidence intervals, hypotheses testing, correlation, univariate and multivariate regression, forecasting, and the interpretation of the outcomes of statistical tests.
- Teacher: Mārtiņš Danusēvičs
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.
- Teacher: Paolo Paesani
CREDITS 3 ECTS - 32 Contact Hours
Strategic vision and action are necessary to enhance a company’s competitive superiority, achieve superior performance, and improve its value. Business strategy introduces, explains, and analyses the activities needed to develop, select, implement, and evaluate a firm’s competitive strategy. This course is designed to illustrate development, implementation, and reformulation of business strategy. Emphasis is placed on the need for awareness of, and accommodation to, changes in an organisation's internal and external environments.
- Teacher: Waleed Gumaa
CREDITS 3 ECTS - 32 Contact Hours
Being the continuation of the Business Accounting, this course further expands into concepts of Financial Accounting, as well as first insight into management accounting being key in the day-to-day business life. No matter which career path shall the students pursue knowledge obtained in this course will make them sophisticated users of financial information equipped for decision-making process, be it investment, corporate, performance assessment and valuation of companies.
Students will dive into financial statements preparation, analyzing the correlation between different indicators, measuring and interpreting different ratios and measurements to evaluate the performance of the company. The focus of the second part of the course shifts towards broader questions regarding organisation strategy, where management accounting plays a crucial role in performance reporting and evaluation, costing, budgeting and forecasting.
Course evaluation is based on the group case study and final in-class closed-book exam, accounting for 50% of the final evaluation each
- Teacher: Olga Bondare
This course provides a thorough introduction to the fundamental principles of Financial Economics, structured around three core pillars: Time Value of Money, Financial Markets and Investments, and Corporate Finance.
The course begins with the foundation of modern finance - the Time Value of Money. Students develop the analytical tools required to evaluate cash flows, including annuities, perpetuities, interest rates, and the weighted average cost of capital (WACC). These concepts form the basis for all subsequent valuation and investment decisions.
The second part of the course focuses on Financial Markets and Investment Analysis. Students examine the structure of financial markets, their participants, and regulatory environment. The course covers bonds and stocks, including valuation techniques, yield measures, risk and return, portfolio construction, and an introduction to derivatives. Behavioural Finance is incorporated to contrast classical financial models with real-world investor behaviour. A guest lecture expands the discussion to alternative investments.
The third part of the course concentrates on Corporate Finance and Firm Valuation. Students apply discounted cash flow techniques to capital budgeting decisions using NPV, IRR, and Payback Period methods. The course emphasizes cash flow estimation, taxation effects, and free cash flow calculations. Theoretical foundations of capital structure are examined through Modigliani–Miller propositions, leading to an integrated understanding of firm value and financing decisions. A guest lecture provides practical insights into corporate finance applications.
The course combines lectures and problem-solving seminars. Lectures introduce theoretical frameworks, while seminars focus on quantitative applications and analytical reasoning. Two mid-term tests and a final exam assess both conceptual understanding and computational proficiency. Whether you plan to work in banking, corporate finance, consulting, entrepreneurship, or simply want to make smarter financial decisions in your own life, this course equips you with essential financial thinking skills.
- Teacher: Tarass Buka
- Teacher: Nataļja Točelovska
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.
- Teacher: Valters Kaže
CREDITS 3 ECTS - 32 Contact Hours
International Economics explains what motivates international trade and flows of money across borders and how this affects exchange rates, interest rates and economic activity. The course covers the following topics: 1) Global interdependence and global production, 2) International trade, absolute and comparative advantage, intra-industry trade, 3) Trade policy, 4) Balance of payments, 5) Foreign exchange market and exchange rates, 6) Capital movements, speculation and international currency crisis, 7) International economic and monetary integration and the European Monetary Union.
- Teacher: Paolo Paesani
CREDITS 3 ECTS - 32 Contact Hours
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.
- Teacher: Sergejs Koleda
CREDITS 3 ECTS - 32 Contact Hours
Strategic vision and action are necessary to enhance a company’s competitive superiority, achieve superior performance, and improve its value. Applied Business Strategy continues from the Business Strategy Course and continues with a deeper understanding of why certain strategies are implemented and the impact they could have. The course explores new models that are particular to conglomerates and large businesses with multiple business units.
- Teacher: Waleed Gumaa
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.
- Teacher: Waleed Gumaa
CREDITS 3 ECTS - 32 Contact Hours
Human Resource Management (HRM) is a driving force behind a successful business and is an essential part of business strategy. The course provides basic knowledge and understanding of human resource role, management processes and functions in a company according to HRM theory, experience in Latvia and abroad as well as up to date human resource trends. It presents the principles of human resource management system building, its correlation and development trends.
The course will explore theoretical and practical aspects of human resource management, focusing on the role HRM plays in assisting organizations to develop competitive advantage and adapt to the current requirements of the employment market. The course objective is to help students acquire the skills and practice in planning and execution of different human resource management processes.
During the course, the students will develop critical understanding of HRM, its scope, main models, role and functions – talent supply and development, performance management, reward management, and employee relations. Students will be exposed to matters of broader business context such as strategy development and deployment, creating and transforming organization culture and development of personal resources. The course provides theoretical review of each subject matter and is supplemented with practical exercises such as discussions, business examples and case studies.
CREDITS 3 ECTS - 32 Contact Hours
The course provides and introductory insight into the legal, financial and organisation aspects of venture capital industry. The students get introduced to the concepts of intellectual property and its market value, raising capital, investment funds, specific traits of venture capital-backed businesses, as well as means of intellectual property protection. It explains the rationale behind modern vc-backed company valuations (why are some ventures valued billions without generating any cash anyway?), venture capital investment into early stage/start-up businesses and emphasizes the modern shift towards viewing the intellectual property assets as the major drivers for company’s value.
The course is focused on offering practical knowledge on VC and, while not differentiating between seminars and lectures, rests on and urges active student participation throughout all sessions.
- Teacher: Sergejs Jakimovs