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Economics and Analytics
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Summary of the Profile
Objective(s) of a study programme:
To provide the latest knowledge of economics and develop competencies to address applied economic problems at the national and international levels, assess the impact of economic policies, apply contemporary economic theories and research methods, critically analyse economic processes, and make decisions in the public and private sectors.
Description of the study programme: https://admissions.ktu.edu/programme/m-economics-and-analytics/
Learning outcomes:
Knowledge and its application:
Able to apply and evaluate the economic and other social sciences theories, in complex and uncertain circumstances, by taking social and ethical responsibility in professional activities and their changes.
Have economic knowledge based on fundamental and applied research and able to simulate the original ideas in economic research.
Able to apply economic theories by critically evaluating the impact of macroeconomic policy and its instruments and solving the problems of multidisciplinary and/or business functional areas in the global or unknown environment.
Able to apply modern economic and interdisciplinary research methods, is able to analyse their limitations, caused of environment changes.
Research skills:
Able to rise research ideas and hypotheses, critically evaluate proposals and formulate economic arguments, gather and apply research methods in applied and multidisciplinary research.
Able to apply advanced data analytics methods, econometric models, and artificial intelligence tools to solve complex economic and business problems.
Able to analyse alternatives and make decisions when managing complex macroeconomic situations and business functional areas and acting under uncertainty.
Able to initiate, organize and perform fundamental and applied research independently and able to interpret and apply theirs results in professional and scientific activity.
Special abilities:
Able to evaluate strategically when making economic decisions under uncertainty, combining multidisciplinary knowledge in accordance with the principals of social responsibility.
Able to analyse and forecast the consequences of economic activities in micro- and macro- levels in the national and global environment.
Able to analyse large and diverse datasets and interpret model results within a broader macroeconomic context.
Social skills:
Able to communicate effectively, smoothly and powerfully with the experts of economics and others by orally and in writing at least in one foreign language, develop and provide socially responsible proposals and discuss relevant economic problems.
Able to work in multidisciplinary team, generate new ideas and absorb, select and implement ideas of other team members, in accordance with professional ethics in the national as well as international context.
Able to perform and manage project activities based on creativity and integrity by solving problems in a changing environment.
Able to integrate theoretical economic knowledge with practical analytical solutions, critically evaluate assumptions and model limitations, and develop sustainable, long-term value-creating decisions.
Personal abilities:
Able to use economic knowledge to make decisions independently in complex and uncertain situations.
Able to expand purposefully own understanding in the economics, choose independently the direction of professional activity taking into account the challenges of modern economics.
Able to develop skills to solve economic problems in a professional, innovative and socially responsible manner with request of strategic, critical and systematic thinking.
Able to evaluate and select critically the most appropriate use of national and international sources of information, ensure the confidentiality of the information.
Activities of teaching and learning:
The studies include classroom work (lectures, practical work, laboratory work, seminars, outgoing visits to enterprises, etc.) and individual work for mastering theoretical material, preparation for classroom work, intermediate and final assessments and performing other activities. The studies of each study module are completed by the assessment of the student’s knowledge and skills – an examination or another final assessment; the study programme is completed by the final degree project and its defence.
Methods of assessment of learning achievements:
The applied cumulative assessment system of the learning outcomes ensures constant and involving work of students during the entire semester of studies; the final evaluation of the study module consists of the sum of the grades of intermediate assessments and the final assessment multiplied by the weighting coefficients (percentages of components).
Study subjects (modules):
Applied Data Analytics, Financial Economics, Industrial Economics, Macroeconomic Forecasting, Macroeconomic Policy, Behavioural Economics, Data Mining and Modelling, Development Economics, Forecasting of Univariate Economic and Financial Time Series, International Economics and Trade, Forecasting of Multivariate Economic and Financial Time Series, Research Analytics Project, Scientific Research Design, Master’s Degree Final Project.
Electives: Challenge-Based Project 1, Strategic Management, Economic Valuation of Innovations, Circular Economy, Challenge-Based Project 2.
Study programme abstract:
A graduate has comprehensive theoretical and practical knowledge of economics, is capable of coordinating economic decision-making processes, addressing challenges related to macroeconomic policy evaluation, international trade, and tax policy, applying data analytics and forecasting methods, developing sustainable economic development scenarios at both national and international levels, conducting fundamental and applied economic research, and effectively communicating research results.
Access to professional activity:
The graduate has a wide range of possibilities to pursue a career in business or public organisations in Lithuania and abroad or establish and manage a private business.
Access to further study:
S/he has access to the third cycle studies.
