PROFESSIONAL knowledge:
At the concept level:
1. Economic development processes in the world.
2. Economic development trends in the world and in Latvia.
3. Current economic development trends in the world and in Latvia.
4. Economic development processes in Latvia and in the world.
5. National economic development trends.
6. Development of economic and social processes in the world and in Latvia.
At the comprehension level:
1. History and tendencies of development of world economy and economy of Latvia.
2. Regularities of economic processes by analysing information on economic issues and developments at the level of the national economy, local government and organisation, planning and organising activities, strategies, changes and sustainable development of the organization.
3. Regularities of environmental factor development.
4. Socio-economic processes.
5. Impact of changes in supply and demand on the market.
6. Types, classification, probability and impact of risks.
7. Risk management process.
8. Regularities of world and Latvian economic processes.
9. Principles of economic policy making.
10. Impact of economic policy on the market and the economy as a whole.
11. Topicalities of socio-economic processes in Latvia and in the world.
12. Fiscal policy.
13. Budgeting at different levels.
14. The essence, principles, forms, methods, objects, regulatory enactments of accounting, chart of accounts.
15. Budget, its creation.
16. Basics of audit (inspection).
17. Factors affecting revenue and expenditure.
18. Forecasting methods and tools.
19. Qualitative and quantitative economic analysis methods.
At the application level:
1. Methods of analysis of basic macroeconomic indicators.
2. Methods of statistical analysis in economics.
3. Application of indicators characterising socio-economic processes.
4. Factor impact analysis methods.
5. Risk assessment methods.
6. Macroeconomic equilibrium theories.
7. Methods of analysis of macroeconomic indicators.
8. Scientific research methods.
9. Information technology, data analysis, processing and protection.
10. Composition, structure, formation of economic activity costs, their significance.
11. Choice of the optimal economic activity in conditions of limited resources.
12. Methods of preparation of functional and financial budgets and financial statements.
13. Budgetary control.
14. Application of analytical methods.
15. Analysis methods of qualitative and quantitative economics.
16. Modelling of economic processes.
17. Efficacy evaluation methods.
18. Scientific research methods.
19. Information selection and analysis methods.
20. Scientific research methods.
21. Economic theories.
22. Methods of statistical analysis in economics.
23. Logical methods of drawing conclusions.
24. Basic principles of argumentation.
GENERAL knowledge:
At the concept level:
1. Principles of multiculturalism in European society.
2. Principles of democracy.
3. Human rights.
At the comprehension level:
1. Occupational safety systems.
2. Organisation.
3. Basic principles of circular economy.
4. Social and political structure of society.
5. Social diversity and the principle of equality.
6. Principles of promoting sustainable development of society.
7. Regularities of macro and microeconomic processes.
8. Money circulation.
9. Currency, financial policy and pricing policy.
10. Types of production, production costs, wages.
11. Principles of sustainable development.
12. Techniques of effective communication.
13. Communication (including intercultural) in society (including multicultural society).
14. Argumentation techniques.
15. Opportunities and potential risks of using information technologies.
16. Electronic means of communication.
17. Security of electronic information.
18. Planning and decision making.
19. Diversity of language and communication in different contexts and environments.
At the application level:
1. Requirements of laws and regulations and standards regulating the field.
2. Measures for prevention of work environment risk factors.
3. Requirements of laws and regulations on civil and environmental protection.
4. Time planning.
5. Business communication.
6. General and professional ethics.
7. Intercultural communication.
8. Scientific research methods.
9. Basic principles of statistics.
10. Information processing methods.
11. Methods of quantitative and qualitative analysis in economics.
12. Preparation of reports and publications.
13. Analysis, processing and protection of information technology data.
14. Computer programs – spreadsheets, databases, information storage and management, etc.
15. Self-assessment mechanisms.
16. Study, career and work flow planning.
17. Time planning techniques.
18. Extensive and relevant vocabulary.
19. Functional grammar.
20. Professional terminology.
21. Basics of intercultural communication.

PROFESSIONAL skills:
1. To understand global economic trends.
2. To understand the regularities of economic development.
3. To analyse and evaluate the national macroeconomic and structural policy.
4. To understand the principles of state economic policy making.
5. To assess the factors influencing the macro and micro environment.
6. To understand the factors of the internal economic environment and their impact on socio-economic processes.
7. To understand the factors of the external economic environment and their impact on socio-economic processes.
8. To assess economic and financial risks and draw up a plan for their prevention in the field (responsibility) of their professional activity.
9. To assess the impact of the state economic policy on economic developments.
10. To assess how global economic trends and foreign economic policies affect a particular functional area.
11. To understand the development trends of economic processes.
12. To assess the factors influencing sustainable development and understand its preconditions.
13. To provide reasoned proposals for the improvement of economic activity in the field (responsibility) of own professional activity.
14. To orient in the requirements of laws and regulations in the field of finance, taxes and accounting.
15. To evaluate the economic and financial activities of legal and natural persons.
16. To calculate the cost and price of a product/service, determine labour costs and other cost items.
17. To organise transaction accounting and inventory.
18. To analyse annual reports (balance sheet, profit or loss statement, cash flow and other notes).
19. To perform calculations of financial analysis of companies and assess the financial position.
20. To plan and compile functional and financial budgets, evaluating the dynamics and structure of revenue and expenditure.
21. To be able to choose and use alternative sources of financing, evaluating the opportunities to attract resources, risks and their impact on the effectiveness of results.
22. To analyse and adjust functional and financial budgets by purposefully analysing the dynamics and structure of revenue and expenditure.
23. To apply financial and statistical information in business accounting, planning and analysis.
24. To ensure efficient use of finances by analysing, planning and adjusting cash flow.
25. To compile, analyse and adjust forecasts of economic processes.
26. To analyse and evaluate the results of economic activity and identify the factors influencing them.
27. To develop and apply a system of economic efficiency indicators.
28. To critically evaluate the current situation.
29. To process information in order to identify problems in the organisation.
30. To summarise and systematise the obtained results for further application for the improvement of economic processes.
31. Based on the research, to develop proposals for the improvement of economic processes and more efficient use of resources in the organisation.
GENERAL skills:
1. To understand the requirements of laws and regulations in the field.
2. To apply the necessary laws and regulations in order to solve the problem.
3. To apply filed-appropriate standards.
4. To organise the workplace in accordance with occupational safety requirements.
5. To observe occupational safety requirements.
6. To identify potential risks when performing work tasks.
7. To comply with civil and environmental protection requirements.
8. To observe the norms of communication culture and professional ethics.
9. To give a reasoned opinion and defend it.
10. To prepare and publish presentation materials.
11. To be tolerant of diversity of opinions.
12. To manage stress in the social communication process.
13. To think critically and creatively.
14. To understand the essence of economic processes and their regularities.
15. To know the research methods in the industry.
16. To collect, systematise and analyse data.
17. To process information by choosing the most appropriate solution.
18. To implement researches, to process and interpret their results.
19. To prepare a report of research results.
20. To prepare presentation materials and publications.
21. To argue own point of view.
22. To use information technology tools and services.
23. To communicate in cooperation networks via the Internet.
24. To search and compile the obtained information.
25. To provide electronic documentation and data storage.
26. To evaluate own professional experience.
27. To understand the learning needs for career development.
28. To systematically acquire new knowledge and experience.
29. To follow topicalities in the industry.
30. To apply the acquired knowledge in practice.
31. To plan time for continuing education.
32. To communicate orally and in writing in a variety of professional situations and environments.
33. To use professional terminology.
34. To present issues both in the professional environment and to the society.

PROFESSIONAL competences:
1. Ability to understand and analyse the regularities and tendencies of economic development in the world and in Latvia.
2. Ability to understand and analyse the state economic policy.
3. Ability to understand and explain changes in the economic environment.
4. Ability to explain differences between internal and external environmental factors.
5. Ability to critically evaluate the impact of both internal and external environmental factors on socio-economic processes.
6. Ability to explain the consequences of environmental change.
7. Ability to analyse and manage economic risks.
8. Ability to implement measures to prevent or reduce risks in the field (responsibility) of own professional activity.
9. Ability to understand the regularities of economic policy-making and critically evaluate its impact on the social and economic environment.
10. Ability to quantify the impact of economic policy on macroeconomic indicators.
11. Ability to understand the regularities of economic processes.
12. Ability to understand the preconditions of sustainable development and assess the factors influencing it.
13. Ability to make proposals scientifically for the improvement of economic processes in the field (responsibility) of own professional activity.
14. Ability to manage financial, tax and accounting issues.
15. Ability to orient in the requirements of laws and regulations in the field of finance, taxes and accounting.
16. Ability to perform financial analysis of business organisations and assess their financial condition.
17. Ability to plan and compile functional and financial budgets.
18. Ability to choose and use alternative sources of financing.
19. Ability to analyse and adjust functional and financial budgets, taking into account the current situation.
20. Ability to apply financial and statistical information in business accounting, planning and analysis.
21. Ability to ensure efficient use of finances.
22. Ability to forecast income and expenses.
23. Ability to apply economic models in problem analysis and solutions.
24. Ability to collect data and create databases.
25. Ability to perform quantitative and qualitative analysis of the achieved results.
26. Ability to apply efficiency assessment methods.
27. Ability to identify current problems that may arise at different levels of the economy.
28. Ability to process and critically evaluate information, formulate a problem.
29. Ability to collect, analyse and interpret economic data to solve economic problems.
30. Ability to systematise the results obtained during the research for practical application.
31. Ability to identify specific problems as a result of problem identification and research in order to increase the efficiency of economic processes in the organisation.
GENERAL competences:
1. Ability to comply with the requirements of laws and regulations related to the field.
2. Ability to comply with employment relationships.
3. Ability to perform work tasks in compliance with occupational safety requirements.
4. Ability to perform work tasks in compliance with the requirements of civil protection and environmental protection legislation.
5. Ability to ensure active and effective participation in the formation of social dialogue in society.
6. Ability to participate in building reputation of the company.
7. Ability to observe the basic principles of professional and general ethics and generally accepted norms of behaviour.
8. Ability to cooperate effectively in a team, performing professional work tasks.
9. Ability to apply scientific research methods and conduct applied research, prepare publications and present them.
10. Ability to use knowledge and methods to explain sustainable development issues and draw evidence-based conclusions.
11. Ability to prepare publications and present them.
12. Ability to conduct value-added research, interpret and analyse their results.
13. Ability to use information technologies in professional activities, incl. communication in the relevant field.
14. Ability to organise self and, by taking responsibility, to continue learning and educating self in the professional field, as well as to develop personal skills.
15. Ability to communicate, write, read, work and speak freely in one or more foreign languages, understanding and using professional terminology and concepts.