| Code | IV0015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | Quantitative Methods for Economics | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Status | Compulsory/Courses of Limited Choice; Courses of Free Choice | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Level and type | Undergraduate Studies, Professional | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Field of study | Mathematics and Statistics | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Faculty | Faculty of Engineering Economics and Management | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Academic staff | Astra Auziņa-Emsiņa, Māris Buiķis, Velga Ozoliņa, Vladimirs Ņikišins, Una Pentjuša, Evija Liepa-Hazeleja | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Credit points | 4.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Parts | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Annotation |
The study course provides insight into economic - mathematical methods and models and decision making process. Within the course, students learn forecasting methods by using time series, models for examining economic relationships, models of linear programming, simulation and elements of the queuing theory.. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Contents |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Goals and objectives of the course in terms of competences and skills |
The aim of the study course is to provide knowledge about important quantitative methods used in economics and their application in the analysis of economic situations and management problems and in the decision-making process. The tasks of the study course: 1) to create an understanding of the importance of quantitative methods in the decision-making process; 2) to teach how to choose the appropriate method for a specific situation, taking into account the available data and the characteristics of the situation; 3) to develop skills of creating a model for analysing the given situation; 4) to promote the ability to obtain a model solution using an appropriate computer program, to evaluate the quality of the created model; 5) to improve the ability to analyse and understand the obtained results and be able to apply them in decision-making; 6) to develop the ability to carry out solutions independently or in a group. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Learning outcomes and assessment |
Is able to list and characterise the main quantitative methods, which are used in economics. Can name the method, which corresponds to characterisation or describes a particular method. - Quiz, exam questions. Activity, participation in practical works. Knows what model is and is able to construct a model, which corresponds to a particular method. Can define a model, develop it in accordance with a particular method, using the given information and data. - Quiz, practical works tests, exam. Is able to use the model for obtaining results. Can obtain results, using the appropriate algorithm and software. - Practical works, tests, exam. Is able to analyse the obtained results and explain the meaning of the obtained results. - Quiz, practical works, tests, exam . Is able to interpret the values of indicators, which are used for the characterisation of a particular model or situation. Can to evaluate the correspondence of a particular indicator to definite criteria. - Quiz, practical works, tests, exam. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Evaluation criteria of study results |
Quizzes. Tests - 15%
Practical works - 20% Activity, participation in practical works - 15% Exam - 50% |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Course prerequisites | Mathematics, information science, economics. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Course planning |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||