Contemporary Economies

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Course Contemporary Economies (VVEIM23401) annotation

During the course of Advanced economics, the following issues are analyzed variety, differences and content of modern and contemporary economic trends, such as: wellbeing economics; institutional economics; circular economy; digital economy; knowledge economy, studying the intangible resources, transaction cost influent; analyzes assessment indicators of relevant advanced economic areas. The main problems occurring in advanced economies are analyzed, the possible solutions of these problems are discussed. 

Aim of course

To provide theoretical and practical knowledge about the advanced economies, to develop a modern understanding about the application of this knowledge, as well as about the scientific cognition and research on the problems and phenomena of economic development.  

Learning outcomes: Student will know and understand the theories of advanced economics, their scope and specifics to solve the modern problems of economic functioning. Student will be able to recognize and analyze the main areas of advanced economics in the context of interdisciplinary research. Student will be able to carry out responsible research in the fields of advanced economics, using economic analysis methods, present research results. Student will be able to carry out responsible research in the fields of advanced economics, using economic analysis methods, present research results. Student will be able to independently develop competence through lifelong learning; advanced economics area data collection and analysis. Individual work technical know-how. 

Basic knowledge and skills required to study this course (if applicable): Mathematics. 

Faculty and course volume in credits: A 6-credit course of study for the Master's degree in the Faculty of Business Management.

Course content

List of the Course lecture topics:

Global economy. Globalization: essence, causes, benefits. International economic structure and development Contemporary approaches to advanced economies: the essence and priorities of the studies; 

Advanced economies: definition and characteristics; requirement of economic changes; variation of modern economic theories and concepts; smart, sustainable and inclusive growth: EU initiatives and objectives

Wellbeing economics. Quality of life. Subjective and objective indicators of quality of life, their measurement and development in country

Institutional economics. Assumptions of institutional economics development, research object. Limited rationality. Formal and informal institutes. Stakeholders. Clustering 

Transactional cost theory. Transactional cost types. Control mechanism of transactional cost 

The concept of intangible resources. intellectual capital. Different types of intangible resources, their specifics and importance to the economy

Intangible resource indicators and their evaluation

Sustainable development and circular economy. Principles of circular economy. Production, consumption, recycling, production cycle. Green supply and consumption

Digital Economy. Content of Digital Economic, Indicators and their change

The content of the Knowledge economy; Knowledge society

Knowledge creation and effects to economic processes

World Bank Knowledge Economy Index

Scientific Colloquium "Advanced economies and Lithuania" 

List of the Course exercise topics:

Contemporary approaches to advanced economies: diversity and comparative analysis

Identification of subjective and objective indicator of quality of life 

Evaluation of transaction cost; clustering case analysis 

Indicator of digital economy grow, their dynamics

Green purchasing, ecological consumer: reason issues

Knowledge society, how to use knowledge: group discuss

Indicator of intangibles resources and intellectual capital

Upon completion of the course with a positive assessment, a Certificate of Completion will be issued, which is transferable to any higher education institution. Upon completion of the course module without a final assessment, a certificate of completion of the course is issued.

The cost of the course is 469,00 Eur.