Entrepreneurship and Economics
Course code
old course code
Course title in Estonian
Ettevõtlus ja majandus
Course title in English
Entrepreneurship and Economics
ECTS credits
approximate amount of contact lessons
Teaching semester
autumn - spring
Assessment form
lecturer of 2019/2020  Spring semester
Indrek Saar (inglise keel) tavaline kursus
Kristo Krumm (eesti keel) tavaline kursus
Jakub Dostal (inglise keel) tavaline kursus
lecturer of 2020/2021  Autumn semester
lecturer not assigned
Course aims
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.
Independent work
Indicative volume of independent work: 14 weeks, 8 hours per week.
Independent work with study materials and solving written tasks.
Learning outcomes in the course
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.
Assessment methods
Written assignment: expanding on the concept of the business plan and answering questions concerning economy.
Anneli Kommer, Kristo Krumm, Indrek Saar
Replacement literature
Kerem, K.; Randveer, M. Mikro-ja makroökonoomika põhikursus, 2001;
D.Eerma, R.M.Wrobel. Majanduspoliitika alused. TÜ kirjastus 2012
Stabiilsusprogramm http://www.fin.ee/el-majanduskoordinatsioon-euroopa-semester