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Hello 12 – Kowalski!

With great excitement, we welcome you all to the new and digital school year under this so-called “new normal”. COVID 19 may have given us some restrictions in mobility however, it taught us to become creative, adaptive and flexible in terms of education, livelihood, governance and leadership. Despite its negative implications and threats, may we choose to be resilient and positive in all our undertakings. Together, we can conquer this pandemic.

Herewith, is a slide presentation of our requirements in Applied Economics. Please browse through it so you may know what learning tools we will utilize, class activities to keep us engaged online, class rules and regulations, course contents among others.

Orientation for Applied Economics Online Class

Course Title: Applied Economics
Semester: 1st
Grade: 12
No. of hours: 80 hours/semester

Course Description:
This course deals with the basic principles of applied economics and its application to contemporary economic issues facing the Filipino entrepreneur such as prices of commodities, minimum wage, rent and taxes. It covers an analysis of industries for identification of potential business opportunities. The main output of the course is the preparation of a socioeconomic impact study of a business venture.

Course Objectives:
At the end of the course, students should be able to:

  • understand economics as an applied science and its utility in addressing economic problems of the country.
  • understand the law of supply and demand, and the factors affecting the economic situation.
  • analyze industries, its principles, tools and techniques leading to the identification of business opportunities.
  • evaluate various socioeconomic impacts of business on the following sectors: consumer, supplier, investors, government, household and international trade.

Course Content:

Chapter I – Introduction to Economics

  1. Revisiting Economics as a Social Science
  2. Economics as an Applied Science
  3. Basic Economic Problems and the Philippine Socioeconomic Development in the 21st Century

Chapter 2 – Applied Economics: Law of Supply and Demand

  1. Law of Demand
    a. Elasticity of Demand
    b. Changes in Demand
  2. Law of Supply
    a. Elasticity of Supply
    b. Shifts of the Supply Curve

Chapter 3 – Market Structures

  1. Perfect Competition
  2. Monopoly
  3. Oligopoly
  4. Monopolistic Competition

Chapter 4 – Application of Supply and Demand

  1. Prices of Basic Commodities
  2. Labor Supply, Population Growth and Wages
  3. Labor Migration and the Overseas Filipino Worker (OFW) Phenomenon
  4. The Philippine Peso and Foreign Currencies
  5. The Philippine Housing Shortage and the Real Estate Boom: Rent & Price Structure

Chapter 5 – Contemporary Economic Issues Facing the Filipino Entrepreneur

  1. Investment and Interest Rate
  2. Rentals
  3. Minimum Wage
  4. Taxes

Chapter 6 – Industry Analysis

  1. Agribusiness
  2. Manufacturing
  3. Retail and Services
  4. International Trade (Exports and Imports)

Chapter 7 – Micro Environmental Analysis

  1. Micro environmental Factors Affecting the Business
    a. Competition
    b. Customers
    c. Suppliers
    d. Competitors
    e. Substitutes

Chapter 8 – Macro Environmental Analysis

  1. Macro environmental Factors Affecting the Business
    a. Political Factors
    b. Economic Factors
    c. Socio-demographic Factors
    d. Technological Factors
    e. Environmental/Natural Factors
    f. Legal Factors

Chapter 9 – Identification of Business Opportunities

Chapter 10 – Socioeconomic Impact Study

  1. Consumer (New Products and Services)
  2. Suppliers & Investors (Capital, Income)
  3. Government (Tax Revenues, Poverty Alleviation, Basic Services)
  4. Households (Standard of Living, Employment)
  5. International Trade (Exports and Imports of Goods and Services

Course Requirements:

  1. Quizzes
  2. Written Tasks
  3. Midterm & Endterm Exams
  4. Case Analysis
  5. Final Project Paper – Socioeconomic Impact Study of a Business Venture

Performance Tasks:

A. Midterm
Scaffold
     1. Online Survey of Current Economic Situations in the Local, National and Global Settings
2. Activity on the Application of Supply and Demand

Big Task
      1. Case Analysis

 B. Endterm
Scaffold
      1. SWOT Analysis
2. PESTEL Analysis

Big Task
       1. Socioeconomic Impact Study of a Business Venture

Academic Performance Evaluation System:

Written Works………………………………….………………………….…25%
Performance Tasks……………………………………………..……………45%
Quarterly Assessment…………………………………………..…………30%
100%

References:
Rosete, M.A.L. (2017). Applied Economics: An Introduction. Abiva Publishing House, Inc.
Greene, C.L. & Sexton, R.L. (2015). Economics, Entrepreneurship and Taxation. Cengage Learning

Prepared by:

Ms. Jorend Mae P. Mationg, MBA
Subject Teacher

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