LICEO DE MASBATE
Quezon St., Masbate City Tel/Fax.: (056) 333-2272
Living and Sharing the Catholic Faith!
OUTCOME-BASED COURSE SYLLABUS
PROGRAM:
VISION:
A highly esteemed and responsive Catholic educational
institution committed to transformation of persons to a Life of
Integrity, Compassion, Excellence and Optimum Service of the
church and society.
MISSION:
In the service of the church with Mary, the school commits
to:
 Offer a gospel-centered and holistic education which
will nurture Christian values, reflective of Masbateño
and Filipino culture.
 Promote academic excellence in search for truth, justice,
peace and progress in accordance with laws, rules and
policies set by the Catholic Church.
 Participating in the evangelizing mission of the church
through relevant and dynamic instructional program
that will foster collaboration and improvement among
the various sectors of the school as a vital instrument
responsive to local, national and global challenges.
COURSE NAME: BASIC ECONOMICS with
TAXATION AND AGRARIAN REFORM
COURSE CREDITS: 3 units
COURSE NUMBER: SocSci 4, SS2/SS3B
COURSE DESCRIPTION:
This introductory course deals with the fundamental
economic principles and theories which are essential to the
understanding of the nation’s economic growth and development
and how the aforesaid principles and theories will be relevant to the
student as a member of society. It shall also include the general
principles underlying the system of taxation in the Philippines as
well as the history of agrarian reform, implementation of
Comprehensive Agrarian Reform Program (CARP) and the land
exemptions and inclusions under CARP.
COURSE OBJECTIVES:
At the end of the semester, the students should be able to:
 First, have a basic knowledge of the nation’s economic
condition through proper understanding of the economic
principles.
 Second, appreciate the relevance of taxation as a necessary
means to enable the State to carry its mandate into effect
and perform the functions of the government as opposed to
the common notion that the payment of taxes are
burdensome and;
 Lastly, understand the necessity of agrarian reforms as a
means to obtain social justice
I. BASIC ECONOMICS
CHAPTER 1: Introduction To Economics
A. Definition of Economics
B. The History behind the word
C. Why Study Economics?
D. Career Opportunities for Economists
E. The Economic Method
F. Limitations to Economic Model
G. Approaches to Economics
H. Microeconomics vs. Macroeconomics
CHAPTER 2: The Central Concept Of Economics
A. The Central Concept of Economics
B. Production Possibilities Curve and Frontier
CHAPTER 3: Decision Making in Economics
A. Basic Economic Questions
B. Basic Economic Activities
C. Factors of Production and their corresponding
payments
D. Common Economic Goals of Countries
E. Economic Systems
CHAPTER 4: Demand Concepts
A. Basic Concepts in Demand
B. Non-price determinants in Demand
C. Elasticity of Demand
D. Income Elasticity and Cross
E. Elasticity Shifts in Demand
CHAPTER 5: Supply Concepts
A. Basic Concepts in Supply
B. Non-price determinants in Supply
C. Elasticity of Supply
D. Shifts of Supply
CHAPTER 6: Equilibrium Analysis
A. Basic Concepts in Equilibrium Analysis
CHAPTER 7: Market Structures
A. Market Structures
B. Characteristics of Market Structures
1.1 Types of Business Organization
a. Legal Forms of Business Organization
b. Major Characteristics of the Legal Forms
c. Specific Characteristics
CHAPTER 8: Production and Cost Concepts
A. Basic Production Concepts
B. The Production Function
C. Costs Associated with Production
D. Accounting Cost Concepts
E. Economic Cost Concepts
CHAPTER 9: Revenue and Profit Concepts
A. Revenue and Profit Concepts
B. Breakeven Analysis
C. Marginal Revenue and Maximum Profit
CHAPTER 10: Introduction to Macroeconomics and National
Income Accounting
A. Macroeconomics and Microeconomics
B. Common Economic Goals and Major Issues of
Countries
C. Inflation
D. Deflation
E. Labor Force and Unemployment
F. Circular Flow of income
Gross National Product and National Income Accounts
II. TAXATION
General Principles
A. Definition and Concept of Taxation
B. Nature of Taxation
C. Theory and Basis of Taxation
D. Characteristics of Taxation
E. Importance of Taxation
F. Purposes of Taxation
G. Process of Taxation
H. Principles of a Sound Tax System
I. Scope and Limitation of the Power of Taxation
J. Power of taxation compared with other powers:
1. Police Power
2. Power of Eminent Domain
K. Doctrines in Taxation
L. Meaning and Characteristics of Tax
M. Classification of Taxes
N. Distinction of Taxes from other related items
 III. AGRARIAN REFORM Salao, Ernesto C., LL.B., LL.M. 2015. The National Internal
IV. The Comprehensive Agrarian Reform Program (CARP) Revenue Code of the Philippines, Fourth Edition. Quezon City,
V. CARP Beneficiaries Rex Book Store, Inc.
VI. The Agrarian Reform Community Development
Strategies Mamalateo, Atty. Victorino C.2014. Reviewer on Taxation, Third
VII. Brief Historical Background of the Philippine Agrarian Edition. Quezon City, Rex Book Store, Inc.
Reform Program
VIII. R.A. 6657 vis-à-vis R.A. 8371 www.dar.gov.ph
IX. Two ways of Land Titling
X. The Program under Comprehensive Agrarian Reform
XI. Major Programs and Achievements of CARP Prepared by:
XII. The Agrarian Reform Community (ARC)
XIII. Carp Coverage LIZA MARIE L. SABADO (SIGNED)
Retention Limits Instructor

COURSE REQUIREMENTS: Approved by:

A. MIDTERM GRADE
Prelim. Examination 25%
Midterm Examination 25% RECOLITO C. CANTRE, Ph.D. (SIGNED)
Class Standing 50% Vice President for Academic Affairs
100% Dean – College of Education
B. FINAL GRADE
Semi-Final Exam 25%
Final Examination 25%
Class Standing 50%
TOTAL 100%

Final Grade=Midterm Grade + Final Grade

2

REFERENCE:
Azarcon, Marzo, Navarro, Ressureccion, Paca, Degay, Sison and
Rojo. Principles of Economics with Taxation and Agrarian
Reform, 2nd Edition

Aban, Atty. Benjamin B. 2011. Law of Basic Taxation in the

Philippines, Revised Edition. Quezon City. National Book Store