Page 1 of 19
GRADE COMPONENTS
The final grade of each student will be a weighted average of his/her individual
work and participation in group work. Typically, the composition of this grade will be as
follows:
Class reports and presentations
MPM Applied Economics
35%
Page 2 of 19
Peer evaluation
Term paper
Total
25%
40%
100%
GRADING CRITERIA
The following Quality Point Index (QP) applies to all courses within this Program:
4.0
3.5
3.0
2.5
2.0
1.5
1.0
Excellent/Outstanding
Superior
Very Satisfactory
Above Average
Average
Pass
Fail
98-100
95-97
92-94
89-91
86-88
85
84 and below
TERM PAPER
Instead of a final examination, the professor will assign students to do individual
term papers on any Economics-related topic. The paper should be the product of
research (library as well as Internet) and thus should have adequate references
included. The professor may present a list of pre-approved topics. The paper is due on
the last day of class. Individual presentations of term paper topics will be scheduled on
the last two days of the term.
Term papers should include a title page, table of contents, chapter headings,
pagination, references, and a bibliography. Appendices and exhibits are optional. The
page setup should be the standard short bond (8.5 x 11), with double spacing. Fonts
should be 12 points and limited to any of the following in MS Word: Arial, Book Antiqua,
Calibri, Tahoma, Times New Roman, Trebuchet, or Verdana.
The Word and Powerpoint electronic files shall be submitted to a class
coordinator who will save the entire collection in one CD for submission. No hard copies
will be submitted. The class members may arrange for individual copies of the same CD
for future reference.
COURSE REQUIREMENTS:
1. ATTENDANCE:
This course will meet once a week for four hours at a time, for a total of eight
sessions spread over two months. The highly accelerated pace requires students to
take a great deal of responsibility for their own learning outcomes. While in class,
MPM Applied Economics
Page 3 of 19
SPECIAL ACCOMMODATIONS
If a student is in need of course adaptation or special considerations due to
certain disability or other problems or constraints, the same should be discussed with the
instructor ASAP.
MPM Applied Economics
Page 4 of 19
Submitting spurious reports copied from previous materials other than his/her
own.
Plagiarism.
In understanding what constitutes Plagiarism, see the following sites:
http://www.engl.niu.edu/conskills/students/plagiaris/Plagiarism.html
http://www/ehhs.cmich.edu/~mspears/plagiarism.html
MATERIALS OF INSTRUCTION
1. Textbook:
2. Reference:
Salvatore, Dominick
MANAGERIAL ECONOMICS IN THE GLOBAL ECONOMY 4TH
Edition
McGraw-Hill, Inc.
Keat, Paul and Young, Philip (2000)
MANAGERIAL ECONOMICS 3rd Edition
Prentice Hall International, Inc.
1.
Web References
http://www.geocities.com/vanderboon/Economiclinks.html
http://www.stats.bls.gov
Page 5 of 19
http://william-king.www.drexel.edu/top/prin/txt/Intro/Ch1ToC.html
Page 6 of 19
http://www.quickmba.com/econ/micro/indcon.shtml
http://www.themanager.org/Knowledgebase/Economics/index.htm
http://www.bris.ac.uk/Depts/Economics/Growth
http://www.neda.gov.ph/
http://www.econlib.org/
http://www.argmax.com/
http://rsqe.econ.lsa.umich.edu/forecast/table.html
http://www.aeaweb.org/
http://www.federalreserve.gov/
http://www.iie.com/
http://www.gtnews.com/nav/emuset.html
http://netec.mcc.ac.uk/JokEc.html
http://www.aeweb.org/journal/jel.class_system.html
http://www.emgmkts.com/
http://www.helsinki.fi/WebEc/
Page 7 of 19
http://www.econdash.net/
http://gerdb.org/
http://www.economist.com/
http://www.economy.com/dismal/
http://www.economymodels.com/
http://www.pcastrd.dost.gov.ph/
http://directory.google.com/Top/Business/Resources/Associations
/Trade_Associations/
http://www.eh.net
http://multinationalmonitor.org/monitor/monitor.html
http://www.prb.org/
http://economics.about.com/
http://www.worldbank.org/data/countrydata/countrydata.html
Page 8 of 19
http://www.barrons.com/
http://fairmodel.econ.yale.edu/
http://www.cyveillance.com
http://econpapers.repec.org/
http://www.economy.com/
http://www.morganstanley.com/GEFdata/digests/digests.htm
Topic
Reading
Assignments
Page 9 of 19
C & F Chapters
1-10
C & F Chapters
17-19
C & F Chapters
11-14
C & F Chapters
20 - 24
C & F Chapters
15, 18,
C & F Chapters
25-27
Page 10 of 19
C & F Chapters
32-34
C & F Chapters
28-30, 35
Page 11 of 19
Session 1
Assignments to be completed prior to Session 1:
1. Read Chapters 1-10 of the textbook.
2. Write a one-page paper on the students assessment of how your organizations
and their clients take into consideration macroeconomic and microeconomic
theories and principles when making decisions
3. Bring a recent copy of any economic magazine or publication and be ready to
discuss a relevant news item or article illustrating the concepts of economics.
Learning Objectives:
At the end of this session, learners are expected to competently:
1. Articulate the course format, expectations, and requirements
2. Differentiate the various fields of economics
3. Identify and explain key economic concepts that influence personal lives,
businesses, and economies
4. Apply economic concepts to real-world situations
5. Identify and resolve ethical issues in economics
6. Apply microeconomic theory with emphasis on:
a. Behavior of consumers with respect to utility, price, and income
b. Costs and output decisions of the firm
c. Behavior of profit-maximizing firms
Activities:
1. Introduction of students and facilitator
2. Submission of papers on organizational application of economic theories and
principles
3. Discussion of a relevant news item/article
4. Groupings for class presentations and reactions
5. Selection of topics for the individual term paper and explanation of format and
content requirements
6. Discussion of basic microeconomic principles, concepts, and tools of analysis
and their application to managerial decision-making
Page 12 of 19
Session 2
Assignments to be completed prior to Session 2:
1. Read the assigned chapters and readings.
2. Visit the Case and Fair Web page and other websites for additional resources
and be ready to discuss them.
3. Be prepared to present and discuss assigned topics.
Learning Objectives:
At the end of this session, learners are expected to competently:
1. Classify the different types of market structures and the factors that create them
2. Analyze how they work and how profit-maximizing firms in them behave with
respect to output, costs, pricing, and revenues.
3. Cite real-life examples of each type of market structure
Activities:
1. Group presentations and discussion of assignments
Group
Topic
1
Perfect competition
Describe each market
structure and how a firm in it
2
Monopolistic competition
maximizes profits, and give
3
Oligopoly
real-life examples of industries
4
Monopoly
and firms for each structure.
2. Discussion of economic articles.
Page 13 of 19
Session 3
Assignments to be completed prior to Session 3:
1. Read the assigned chapters and readings.
2. Visit the Case and Fair Web page and other websites for additional resources
and be ready to discuss them.
3. Be prepared to present and discuss assigned topics.
Learning Objectives:
At the end of this session, learners are expected to competently:
1. Understand the targets of the Medium Term Philippine Development Plan with
respect to growth, price stability, and employment for 2004-2010, and how these
will be achieved.
2. Explain the role of monetary policy and how the Bangko Sentral ng Pilipinas
exercises its mandate within its framework of inflation-targeting
3. Explain the role of fiscal policy and how the government plans its revenues and
expenditures, and how these affect the economy as a whole.
4. Explain the logic behind privatization and the Build-Operate-Transfer programs.
Activities:
1. Group presentations and discussion of assignments
Group
Topic
2
Describe the targets of the Philippines Medium Term
Development Plan (as created by NEDA) with respect to
growth, price stability, and employment. How will these
targets be met?
3
Describe the BSPs framework of inflation targeting. How
does the BSP control money supply? What has been the
BSPs track record in maintaining price stability?
4
Describe and analyze the Consolidated Public Sector Fiscal
Position in the post-Marcos period. What were the causes of
the CPSFPS deterioration?
1
What is privatization? What is Build-Operate-Transfer? How
did these contribute to the alleviation of the fiscal deficit?
What were their risks and disadvantages, if any?
2. Discussion of economic articles
Page 14 of 19
Session 4
Assignments to be completed prior to Session 4:
1. Read the assigned chapters and readings.
2. Visit the Case and Fair Web page and other websites for additional resources
and be ready to discuss them.
3. Be prepared to present and discuss assigned topics.
Learning Objectives:
At the end of this session, learners are expected to competently:
1. Explain how the primary measures of economic performance, GDP and
GNP/GNI, are derived and what they mean.
2. Describe Philippine GDP/GNP performance and compare it against those of its
ASEAN neighbors.
3. Explain the per capita income record of the Philippines compare it against those
of its ASEAN neighbors.
4. Understand both sides of the population debate, and decide which, at the
Philippines current level of development, is more valid.
Activities:
1. Group presentations and discussion of assignments
Group
Topic
3
Describe how the Phil. government measures GDP and GNP.
What accounts for the biggest difference between the two
measures?
4
Describe the Philippines GDP and GNP growth rates over
the last 10 years. Compare with those of our ASEAN
neighbors over the same period.
1
Describe the Philippines per capita income and its growth
rates over the last 10 years. Compare with those of our
ASEAN neighbors over the same period.
2
Describe the Philippines population size and growth rates
over the last 10 years. Compare with those of our ASEAN
neighbors over the same period. Is population an asset or a
liability for the Philippines?
2. Discussion of economic articles
Page 15 of 19
Session 5
Assignments to be completed prior to Session 5:
1. Read the assigned chapters and readings.
2. Visit the Case and Fair Web page and other websites for additional resources
and be ready to discuss them.
3. Be prepared to present and discuss assigned topics.
Learning Objectives:
At the end of this session, learners are expected to competently:
1. Describe the historical employment and unemployment situation in the
Philippines in comparison with its ASEAN neighbors and identify the underlying
causes
2. Compare Philippine labor productivity against those of its ASEAN neighbors and
analyze the implications of the differences seen
3. Explain the Consumer Price Index, its significance, and how it is computed
4. Describe the historical inflation performance of the Philippines vis--vis its
ASEAN neighbors and identify the underlying causes
Activities:
1. Group presentations and discussion of assignments
Group
Topic
4
Describe the Philippines employment and unemployment
rates over the last 10 years. Compare with those of our
ASEAN neighbors over the same period. Analyze for causes.
1
Describe the Philippines labor productivity levels over the last
10 years. Compare with those of our ASEAN neighbors over
the same period. Analyze for causes.
2
Explain the Consumer Price Index, its significance, and how it
is computed by the National Statistics Office.
3
Describe the Philippines inflation rates over the last 10 years.
Compare with those of our ASEAN neighbors over the same
period. Analyze for causes.
2. Discussion of economic articles
Page 16 of 19
Session 6
Assignments to be completed prior to Session 6:
1. Read the assigned chapters and readings.
2. Visit the Case and Fair Web page and other websites for additional resources
and be ready to discuss them.
3. Be prepared to present and discuss assigned topics.
Learning Objectives:
At the end of this session, learners are expected to competently:
1. Explain the Principle of Comparative Advantage and how it results in mutually
beneficial trade among economies
2. Understand both sides of the Free Trade vs. Protectionism debate and decide
which will be more beneficial for the country in the long run
3. Describe the Philippines historical international trade performance (Balance of
Trade and Balance of Payments), its principal exports and imports and their
historical development, and its principal trading partners
4. Explain the features of both the fixed and the floating exchange rate schemes
and the Bretton Woods Accord that created the post-WWII monetary exchange
system
5. Explain the phenomenon of globalization and its driving forces, its effects on
production, trade, investments, human resources, and the environment, and the
opportunities and risks that the Philippines faces in participating in international
economic agreements such as AFTA, WTO, and APEC.
Activities:
1. Group presentations and discussion of assignments
Group
Topic
1
What is the Principle of Comparative Advantage, and how
does it apply in international trade? What are the arguments
for Protectionism? For Free Trade? What had been the
Philippines economic performance under the protectionist
policies of the post-World War II administrations?
2
Describe the Philippines Balance of Trade and Balance of
Payments over the last 10 years. What are our principal
exports and imports? Which are our principal export markets
and import sources?
3
What was the Bretton Woods Accord? What was its role in
creating the post-World War II monetary exchange system?
4
What is globalization? What are its driving forces? What are
its effects on production, trade, investments, human
resources, and the environment? What are the opportunities
and risks that we face in participating in international
economic agreements such as AFTA, WTO, and APEC?
2. Discussion of economic articles
MPM Applied Economics
Page 17 of 19
Session 7
Assignments to be completed prior to Session 7:
1. Read the assigned chapters and readings.
2. Visit the Case and Fair Web page and other websites for additional resources
and be ready to discuss them.
3. Be prepared to present and discuss assigned topics.
Learning Objectives:
At the end of this session, learners are expected to competently:
1. Explain what economic development means and identify its critical success
factors
2. Explain the UN Millennium Development Goals, how their attainment is
measured, and how they apply to the Philippines
3. Describe the incidence of poverty in the Philippines, in comparison over time with
its ASEAN neigbors, and identify its causes
4. Explain the role of education and other forms of investment in human capital in
overcoming poverty, and describe RPs educational investments vis--vis those
of its ASEAN neighbors
5. Explain the role of science and technology in overcoming poverty, and describe
RPs investments in S & T vis--vis those of its ASEAN neighbors
Activities
1. Group presentations and discussions of assignments
Group
Topic
2
Explain the UN Millennium Development Goals, how their
attainment is measured, and how they apply to the
Philippines. Is the Philippines likely to achieve all the Goals?
3
Describe the incidence of poverty in the Philippines over the
last 10 years. Compare with those of our ASEAN neighbors
over the same period. Analyze for causes.
4
Explain the role of education and other forms of investment in
human capital in overcoming poverty, and describe RPs
educational investments vis--vis those of its ASEAN
neighbors over the last 10 years.
1
Explain the role of political governance and its institutions in
determining the direction and speed of economic
development. Is the Philippine political system a help or a
hindrance in the countrys development?
3. Start of presentation of individual term papers (2nd half of the session)
Page 18 of 19
Session 8
Assignments to be completed prior to Session 8:
1. Be prepared to present your individual term paper
2. Submit the required electronic files to the class coordinator on or before the
deadline.
Learning Objectives:
At the end of this session, learners are expected to competently:
1. Demonstrate the application of economic principles and theories in a particular
context or industry
Activities:
1. Presentation of individual term papers
2. Submission of the CD containing the compilation of all term papers and
presentations.
Page 19 of 19