IV0008 Economy of European Countries

Code IV0008
Name Economy of European Countries
Status Compulsory/Courses of Limited Choice; Courses of Free Choice
Level and type Undergraduate Studies, Academic
Field of study Economics
Faculty Faculty of Engineering Economics and Management
Academic staff Ilze Judrupa
Credit points 4.0
Parts 1
Annotation The study course includes topics on the economic development of European countries. Students gain knowledge about the classification of countries and the characteristics of economic development of different groups of countries. By completing the study course, students gain an understanding of the factors that determine the economic development opportunities of countries and improve their skills in assessing the level of economic development of countries and future forecasts..
Contents
Content Full- and part-time intramural studies Part time extramural studies
Contact hours Independent work Contact hours Independent work
Economic sectors and country classification options 4 6 2 8
Macroeconomic models for assessing the economic development of countries. Methods of calculating indices. Forecasting economic development 8 16 4 20
The development of Western European (WE) countries after World War II, the formation of the EU. Economic development models of WE countries, factors determining economic development and their analysis 16 22 8 30
Geopolitical changes and integration directions of Central and Eastern European (CEE) countries after World War II. Economic development models of CEE countries, factors determining economic development and their analysis 14 18 6 26
Total: 42 62 20 84
Goals and objectives
of the course in terms
of competences and skills 		The aim of the study course is to promote students’ understanding of the economic development models of European countries and to develop their skills in assessing national economic development. Tasks: 1) to develop the ability to create a country classification system and group countries according to certain criteria; 2) to improve the ability to compare the economic development of European countries using the main macroeconomic models and to assess the socio-economic consequences of the economic policy implemented in the country; 3) to develop the ability to identify, analyze and compare the factors influencing the economic development of different groups of countries; 4) to develop an understanding of the goals of the economic policy of European countries and their impact on the development of the national economy.
Learning outcomes
and assessment 		Is able to obtain, process, analyze and use information that allows the development of a country classification system - Homework No.1 - presentation on the country classification system developed by the student
Is able to apply macroeconomic principles to assess the socio-economic consequences of economic policies implemented in the country, using MS Excel to calculate macroeconomic indicators, construct graphs and make forecasts. - Classwork - an assignment with mathematical calculations on Germany's chosen economic development policy and its compliance with economic theory Final assessment
Able to identify, analyze and compare factors influencing the economic development of European countries by calculating the economic development index - Homework No.2 - calculation of the economic development index and interpretation of results Final assessment
Is able to describe national economic development models, their characteristics in the European countries and understand the impact of the economic policies implemented by countries on the development of the national economy - Homework no.3 - preparing a presentation on the economic development model, economic policy and analysis of economic development indicators of one European country Final assessment
Evaluation criteria of study results
Homework no.1 - Prezentation of classification system of countries - 10%
Classwork - an assignment with mathematical calculations on Germany's chosen economic development policy - 25%
Homework No.2 - calculation of the economic development index and interpretation of results - 25%
Homework no.3 - essay on the comparison of economic development in Northern and Southern Europe: similarities and differences - 10%
Final assessment - presentation on the economic development of one European country: economic development model, analysis of indicators, calculation of the development index, advantages and disadvantages in comparison with other European countries - 30%
 
Course prerequisites Peliminary knowledge of macroeconomics and econometrics is preferred
Course planning
Part CP Hours Tests Tests (free choice)
Lectures Practical Lab. Test Exam Work Test Exam Work
1 4.0 22.0 20.0 0.0 * *