Course code

RIM6048.YK

old course code

Course title in Estonian

Majanduspoliitika alused

Course title in English

Foundations of Economic Policy

ECTS credits

6.0

Assessment form

Examination

lecturer of 2025/2026 Spring semester

Rünno Lumiste (language of instruction:Estonian)

lecturer of 2026/2027 Autumn semester

Not opened for teaching. Click the study programme link below to see the nominal division schedule.

Course aims

Gaining an overview of government intervention practices and theoretical justifications in the field of economics. The course also provides insights into economic policies in Estonia and the European Union.

Brief description of the course

The course covers the following topics: fundamentals of economic functioning and prevailing relationships in the economy, sustainable economic development, the role of the public sector in the economy; the nature, necessity, objectives, and instruments of economic policy; theoretical justifications for economic policy; market failures as a basis for government intervention in the economy; the connections between economic policy and the political environment, public choice theory; implementation of economic policy in various areas: fiscal policy, monetary policy, labor market policy, trade policy, education policy, social policy, environmental policy, healthcare policy, industrial policy, entrepreneurship policy; implementation of economic policy in Estonia and the European Union.

Learning outcomes in the course

Upon completing the course the student:
- has knowledge of the main economic processes and problems in society;
- understands the role of government and objectives and instruments of economic policy in organizing economic life in various spheres of society.

Teacher

Rünno Lumiste

Study programmes containing that course

Philosophy, Politics and Economics (HFPMB/26.HT)
Politics and Governance (RIPGB/26.YK)
Public and Business Management (RIHKB/26-o.YK)
Politics and Governance (RIPGB/25.YK)
Public and Business Management (RIHKB/25-o.YK)
Public and Business Management (RIHKB/25-t.YK)
Politics and Governance (RIPGB/24.YK)
Public and Business Management (RIHKB/24-t.YK)
Public and Business Management (RIHKB/24-o.YK)
History (AIAJB/00.HT)