Colegio de San Juan de LetranIntramuros, Manila

College of Business Administration and AccountancyEconomics Area

First Semester, School Year 2007-2008

I. Course Code : Econ101

II. Course Title : PRINCIPLES OF ECONOMICS with TLR

III. Course Credit : 3 units

IV. Course Description : This course provides a comprehensive coverage of all major topics in economics. Attention is given to establish student’s understanding of key economic principles with particular emphasis on the Phil. Economic system, its growth and development. The course covers the foundation of economics, demand and supply analysis, the concept of elasticity, the theory of production and the fundamental concept of micro and macroeconomics with the use of simple graphical and mathematical illustration. Likewise, the course involves topics on taxation and agrarian reform with discussion on issues and problems related to its implementation.

V. Course Rationale : Students are provided with clear exposition and analysis of the principles of economics, focusing on the core theories and applications of the subject. Thus, attention is given to establish student’s understanding of key economic principles, and then illustrate each of these principles with relevant applications.

VI. Course Objectives :

A. General Objective : At the end of the course, the students are expected to have appreciated the fundamental concepts of economics, and its application not only to a broader treatment, but also to personal exploits as well, performed task based on the fundamentals of economics and have related the basic economics concepts in view of the current economic problems.

B. Specific Objectives : At the end of the semester, the students should be able to:

1. Cognitive : Demonstrate how a market is driven by individual decision; Explain how a business operates, and the different types of organizations.

2. Affective : Utilizes appropriate economic concepts and principles in evaluating economic problems, issues and other related economic concerns

Appreciate the importance of economics as an indispensable tool for their course.

3. Psychomotor : Operate different equation in economics Graph various equations

VII. Course Outline

Specific Objectives

Subject Matter ValuesIntegrated

TeachingMethod

InstructionalMaterials

Evaluation TimeFrame

ExpectedOutput

Explain the do’s and don’ts in the classroom during the semester.

Orientation SociabilityCooperationCompliance

Discussion Whiteboard markerOHPAcetates

Observation First Session

Internalize the classroom policies.

Discuss the foundation of economics.

Nature of Economics Definition of

Economics Economic Structure Branches of

Economics Economic Activities Economics Systems Circular flow of

economic activities Production possibilities

curve

Efficient resource allocationAppreciation

Lectures/discussionQuestion & answerSituational

Reference booksTextbooksBooks / Visual Aids

Quiz and RecitationHomework

1st & 2nd weeks

Participate in the discussion of foundations of economics.

Analyze the concepts of demand and supply.

Compute the equilibrium price and

Demand and Supply Analysis

Function Schedule Curves Determinants

PatienceCompromiseAccuracy and carefulness

LecturesDiscussionGraphical illustrationMathematical Computations

Reference booksGraphicalIllustrations Problem solvingExercises

Quiz and recitation

Set workBoard work

3rd &4th weeks

Identify the difference between demand and supply.

quantity.Analyze the changes in demand and supply

Discuss the concepts of elasticity and its application and compute for the values.

Interpret the results of elasticity

The price elasticity of demand and supply

Definition Types Formula and

computation

Attentiveness, carefulness, and accuracy

Lectures Problem SolvingBoard worksDiscussion

Reference books/ textbooks

Board work, seatwork, quiz and recitation

5th & 6th weeks

Compute the percentage response of buyers and sellers to price changes.

Explain how business attains profit or losses through economic viewpoint.

Graph the different outputs and determine the stages of production.

The Theory of Production

Definition of terms Formula and

computation of products

Law of Diminishing Returns

Stages of Production

AccuracyPatience

Values of fairness and integrity

LecturesGraphical Illustration

Reference books/ textbooks OHP

Quiz, board work, graphical representation

7th & 8th weeks

Read and analyze graphical and mathematical representations of production curves.

Link the Production and Cost Honesty Lecture/ Reference books/ Quiz, board 9th week Identify the

behavior of production through its cost.

Definition Computation

Sense of appreciation

discussion textbooksOHP

work, recitation types of market through graphical, and mathematical interpretations

Community Service IntegrationEnable the students to utilize resources wisely and economically for sustainable future Apply the knowledge acquired by the students to adopted community.

Production – Cost Relationships

Wise use of resources

Graphical Illustrations

Reference books/ textbook

Recitation 10th week Awareness of students on the utilization of resources for economic development and growth

Introduce the measurement of economic performance

Types of market structure Board Work OHP Long Quiz 11th & 12th

weeksAcquire mastery in the computation of different kinds of cost in relation to production.

MIDTERM EXAMINATION

Explain the differentapproaches and components of GNP accounting

GNP and its Concepts Approaches Components of GNP Measurement of GNP

Importance of linkage

Discussion/ Question & answer

Books OHP Recitation, board work, quiz

13th week Enthusiastic to compute the aggregate supply and demand and relate it to the real economic situation of the country.

Promote genuine human development at the center of socio-economic change and depression.

Unemployment and inflation

Definition Types Causes and effect

Productivity and economic equity

LecturesComputationProblem Solving

Reference booksOHP

Quiz & Recitation Board work

14th week Determination of socio-economic solutions to unemployment problems and curbing inflation.

Introduce the concepts of taxation

Fiscal Policy and Taxation

Tools of Fiscal policy Issues

PerseveranceImportance of GNP to economic performance

Lecture and group dynamic

Reference books OHPExercises

Quiz & Recitation

15th Week Recognize the importance of taxation in the operation of government and the economy.

Discuss the general information about Philippine monetary

Monetary Policies Define money and its

characteristics Concepts Government Programs

Honesty Sense of Appreciation

Importance of linkage

LecturesReporting and discussion

Reference booksExercises

Recitation 16th week Submit a reaction paper about the Philippine monetary system.

system.

Community Service Integration

To enable the students toanalyze the problems, prospects of agrarian reform as a tool for economic development for the adopted community.

Agrarian Reform

Definition Concepts Problems Prospects and issues CARP Basic Provisions

Honesty Integrity Values of fairness

IndependenceSelf Reliance

LecturesDiscussion

Lecture/ Discussion Computation Recitation

Reference books

Books HandoutsNewspapers

Quiz / Recitation

RecitationDiscussion

17th week Internalize the significance of agrarian reform program as the backbone of economic recovery.

FINAL EXAMINATION 18th week

VIII. Grading System :Midterm Grade: Pre-final Grade:Class Standing - 30% Class Standing - 30%Quizzes - 30% Quizzes - 30%Mid-term Exams - 40% Mid-term Exams - 40%

100% 100%

Final Grade = (Mid-term Grade + Pre-Final Grade) / 2

IX. References:Main References: Villegas, Bernardo M. and Victor A. Abola, Basic Economics, UAAP, c2004

Other References: Pagoso, Cristobal M., Manuel, Dela Cruz M.Principles of Economics. Rizal: Nelson Publication, 2004Frank, Robert H. Principles of Economics. BOSTON: Irwin McGraw-Hill, 2001.Mankiw, Gregory N. Principles of Economics. Forth Worth: Dryden Press, c1998.Miranda, Gregorio S. Introductory Economics. Manila: L & G Business House, 2001.O’ Sullivan, Arthur. Economics: Principles and Tools. New Jersey: Prentice Hall, 1998.Samuelson, Paul A., Nordhaus, William D. Economics. Boston: Irwin, c1998.Slavin, Stephen L. Economics. Chicago: Irwin, 1996.Mc Aleece, Dermot. Economics for Business. Great Britain: Prentice Hall, 2001

Online References: http://william-king.www.drexel.edu/top/prin/txt/EcoToC.html - Principles of Economicshttp://www.mises.org/etexts/menger/principles.asp - Principles of Economicshttp://mason.gmu.edu/~tlidderd/menger/ - Principles of Economics by Carl Merger