Course code

RIM6101.YK

old course code

Course title in Estonian

Ettevõtlus ja majandus

Course title in English

Entrepreneurship and Economics

ECTS credits

6.0

Assessment form

assessment

lecturer of 2025/2026 Spring semester

Rünno Lumiste (language of instruction:English, 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

​​Acquire basic knowledge of economics and entrepreneurship that supports students' informed participation in economic life.

Brief description of the course

The nature of economics. Scarcity of resources and opportunity cost. Economic systems. Market demand and supply. Rational choice. The role of the firm in the economy. Forms of entrepreneurship, including social entrepreneurship. Being an entrepreneur: risks, advantages, and responsibilities. Principles of business planning. Economic policy and the role of government in the economy. The national economy and the circular flow of income and expenditure. Gross Domestic Product (GDP), business cycles, and economic growth. Unemployment and inflation. Money and monetary policy. Fiscal policy.

Learning outcomes in the course

Upon completing the course the student:
- knows the basic economic terms and concepts and understands the mechanisms of how the economy functions;
- is familiar with the main economic indicators, is able to find relevant data and analyze it;
- understands the nature of entrepreneurship and is able to assess business opportunities.

Teacher

Indrek Saar, Rünno Lumiste

The course is a prerequisite

Study programmes containing that course

Philosophy, Politics and Economics (HFPMB/26.HT)
Law (AKOB/26-o.YK)
Politics and Governance (RIPGB/26.YK)
Social Work (STSTB/26-t.YK)
Sociology (RASLB/26-t.YK)
Sociology (RASLB/26-o.YK)
Social Pedagogy (STSPB/26-o.YK)
Public and Business Management (RIHKB/26-o.YK)
Politics and Government (RIRIB/26-t.YK)
Politics and Government (RIRIB/26-o.YK)
Social Work (STSTB/26-o.YK)
Liberal Arts in Social Sciences (KKLSB/26.YK)
Social Pedagogy (STSPB/26-t.YK)
Law (AKLB/26.YK)
History (AIAJB/26.HT)
Sociology (RASLB/25-o.YK)
Politics and Government (RIRIB/25-o.YK)
Politics and Governance (RIPGB/25.YK)
Social Work (STSTB/25-o.YK)
Social Pedagogy (STSPB/25-o.YK)
Public and Business Management (RIHKB/25-o.YK)
Social Work (STSTB/25-t.YK)
Politics and Government (RIRIB/25-t.YK)
History (AIAJB/25.HT)
Social Pedagogy (STSPB/25-t.YK)
Law (AKLB/25.YK)
Law (AKOB/25-o.YK)
Public and Business Management (RIHKB/25-t.YK)
Liberal Arts in Social Sciences (KKLSB/25.YK)
Sociology (RASLB/25-t.YK)
Recreation Management (TSRKB/25.LT)
Social Pedagogy (STSPB/24-o.YK)
Politics and Government (RIRIB/24-o.YK)
Sociology (RASLB/24-t.YK)
History (AIAJB/24.HT)
Social Work (STSTB/24-o.YK)
Politics and Governance (RIPGB/24.YK)
Liberal Arts in Social Sciences (KKLSB/24.YK)
Law (AKOB/24-o.YK)
Social Work (STSTB/24-t.YK)
Sociology (RASLB/24-o.YK)
Recreation Management (TSRKB/24.LT)
Law (AKLB/24.YK)
Politics and Government (RIRIB/24-t.YK)
Public and Business Management (RIHKB/24-o.YK)
Public and Business Management (RIHKB/24-t.YK)
Social Pedagogy (STSPB/24-t.YK)
Politics and Governance (RIPGB/23.YK)
Law (AKLB/23-hel.YK)
Social Work (STSTB/23-o.YK)
Law (AKLB/23.YK)
Politics and Government (RIRIB/23-o.YK)
Liberal Arts in Social Sciences (KKLSB/23.YK)
Public and Business Management (RIHKB/23-t.YK)
Recreation Management (TSRKB/23.LT)
Sociology (RASLB/23-t.YK)
Public and Business Management (RIHKB/23-o.YK)
Politics and Government (RIRIB/23-t.YK)
History (AIAJB/23.HT)
Social Work (STSTB/23-t.YK)
Sociology (RASLB/23-o.YK )
Law (AKOB/23-o.YK)
Law (AKOB/22-o.YK)
Law (AKLB/22.YK)
Politics and Governance (RIPGB/22.YK)
Politics and Government (RIRIB/22.YK)
Sociology (RASLB/22.YK)
Public and Business Management (RIHKB/22-o.YK)
History (AIAJB/22.HT)
Law (AKOB/22-t.YK)
Social Work (STSTB/22.YK)
Public and Business Management (RIHKB/22-t.YK)
Liberal Arts in Social Sciences (KKLSB/22.YK)
Law (AKLB/22-hel.YK)
Politics and Governance (RIPGB/21.YK)
Law (AKOB/21.YK)
Politics and Government (RIRIB/21.YK)
Sociology (RASLB/21.YK)
Law (AKLB/21.YK)
Law (AKLB/21-hel.YK)
History (AIAJB/21.HT)
Liberal Arts in Social Sciences (KKLSB/21.YK)
Public and Business Management (RIHKB/21.YK)
Social Work (STSTB/21.YK)
Teacher of Computer Science (IFIOM/22.DT)
Environmental Management (MLKSB/21.LT)
Sociology (RASLB/20.YK)
History (AIAJB/20.HT)
Law (AKOB/20.YK)
Politics and Governance (RIPGB/20.YK)
Teacher of Computer Science (IFIOM/21.DT)
Social Work (STSTB/20.YK)
Environmental Management (MLKSB/20.LT)
Law (AKLB/20.YK)
Politics and Government (RIRIB/20.YK)
Public and Business Management (RIHKB/20.YK)
Liberal Arts in Social Sciences (KKLSB/20.YK)
Public and Business Management (RIHKB/19.YK)
Law (AKLB/19.YK)
History (AIAJB/19.HT)
Liberal Arts in Social Sciences (KKLSB/19.YK)
Law (AKOB/19.YK)
Politics and Government (RIRIB/19.YK)
Politics and Governance (RIPGB/19.YK)
Sociology (RASLB/19.YK)
Social Work (STSTB/19.YK)
Primary School Teacher (KAKLI/17.HR)
Environmental Management (MLKSB/19.LT)
Teacher of Computer Science (IFIOM/20.DT)
Politics and Governance (RIPGB/18.YK)
Law (AKOB/18.YK)
Law (AKLB/18.YK)
Liberal Arts in Social Sciences (KKLSB/18.YK)
Sociology (RASLB/18.YK)
Public and Business Management (RIHKB/18.YK)
History (AIAJB/18.HT)
Social Work (STSTB/18.YK)
Teacher of Computer Science (IFIOM/19.DT)
Environmental Management (MLKSB/18.LT)
Politics and Government (RIRIB/18.YK)
History (AIAJB/17.HT)
Politics and Government (RIRIB/17.YK)
Environmental Management (MLKSB/17.LT)
Public and Business Management (RIHKB/17.YK)
Social Work (STSTB/17.YK)
Sociology (RASLB/17.YK)
Law (AKLB/17.YK)
Law (AKOB/17.YK)
Politics and Governance (RIPGB/17.YK)
Journalism (KOAB/17.FK)
Liberal Arts in Social Sciences (KKLSB/17.YK)
Sociology (RASLB/16.YK)
Law (AKLB/16.YK)
Social Work (STSTB/16.YK)
Environmental Management (MLKSB/16.LT)
Liberal Arts in Social Sciences (KKLSB/16.YK)
Public and Business Management (RIHKB/16.YK)
Journalism (KOAB/16.FK)
History (AIAJB/16.HT)
Politics and Governance (RIPGB/16.YK)
Politics and Government (RIRIB/16.YK)
Law (AKOB/16.YK)
History (AIAJB/00.HT)