lecturer of 2021/2022 Autumn semester
Kristo Krumm (language of instruction:Estonian) ordinary course
lecturer of 2021/2022 Spring semester
Kristo Krumm (language of instruction:Estonian)
Rünno Lumiste (language of instruction:English)
To create preconditions for understanding knowledge related to entrepreneurship and economics, to support students’ development so that they could participate in the social discussion on economic issues, and understand the role of entrepreneurship and entrepreneurs in the society.
Brief description of the course
Scarcity of resources, opportunity cost, market, demand and supply
The role of an enterprise in economy.
Starting a business, life cycle, being an entrepreneur, risks and advantages.
Business plan, role in starting a business, main parts of a business plan
Different needs for submitting a business plan, bank, Unemployment Insurance Fund, private investor
National economy, revenue and expenditure cycle, total demand and aggregate supply.
Money and monetary policy. Economic cycles, GDP, unemployment and inflation.
Government’s role in economy. Revenue and expenditure in the state budget.
Fiscal policy in Estonia.
Learning outcomes in the course
Upon completing the course the student:
- understands the nature of entrepreneurship and entrepreneur, the role and principles of drawing up a business plan;
- knows the basic concepts in economics and understands the underlying operational mechanisms of economy;
- is able to navigate in main macroeconomic indicators and to join the discussion on economy.