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Engrade Wikis Course Syllabus Economics01 (Principles of Economics /w LRT)

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Course Syllabus Economi

Course Syllabus SocSc02

Econ01 Chapter 4 - Elas

Econ01 Chapter 5 - Theo

Econ01 Chapter 6 - Theo

Econ01 Chapter 7 - Cost

Econ01 Chapter 8 Th

Econ01 Chapter 9 In

Econ01 Chapter 10 N

Econ01 Chapter 11 M

Econ01 Chapter 12 P

Econ01 Chapter 13 P

General Objectives

At the end of the course, the students are expected to: 1. Concretize the Philosophy, Vision, and Mission, and the Mission Statement of the College of Business Administration both in the classroom and outside of school premises; 2. Discuss macroeconomics concepts and principle; and 3. describe how the economy works through macroeconomics concepts and principle.

Value Aims
Within the semester and during their life time, the students should be able to exhibit the following: 1. Awareness of the importance of making sound economic decisions in all aspects of life that will benefit not only them but society as well; 2. Ability to appreciate the value of creativity and innovativeness in productive endeavors that will help country attain industrialization and economic progress; 3. Understanding of the need to pay taxes and support government efforts for the promotion of the general welfare of the citizenry.

Module 1
Learning Strategies - Lecture - Discussions - Independent Reading - Data Analyses - Group Dynamics - Library Works

No. of Weeks - 4

Specific Objectives: At the end of the module, the students are expected to: 1. Gain new perspective regarding CCP's Philosophy, Vision and Mission, and the College objective; 2. Define economics and discuss the foundation of economics; 3. Describe how the economy works through macroeconomics concepts and principle; 4. Discuss the ecnomic flow; 5. Discuss the law governing demand and supply; 6. Identify equilibrium price and quantity as affected by demand and supply; 7. Discuss the concept of utility and the method of analyzing consumer demand; and 8. Compute price elasticity of demand and supply.

Introduction to the Study of Economics & Foundation of Economics

- Introduction - Foundation of Production - Factors of Production - Economics as a Discipline - Defined - Economics as a Social Science - Division of Economics - Basic Economic Problems

- Economic System - Positive Economics versus Normative Economics

Methodology of Economics
- Methods of Economics - Economic Theories - Components of a Theory

Theory of Demand and Supply

- Market - Demand - Supply - Market Equilibrium

Prelim Examinations Module 2

Learning Strategies - Lecture Discussions - Independent Reading - Data Analyses - Group Dynamics - Library Work/ Research - Internet Researches

No. of Weeks - 4

Specific Objectives:

At the end of the module, the students are expected to: 1. Know the relationship between input and output; 2. Compute production cost; 3. Be able to determine the categories of production activities 4. Be able to analyze the procdution process

Elasticity
- Introduction to Price Elasticity of Demand - Coefficient of Elasticity as an Absolute Value - Determinants of Price Elasticity - Price Elasticity of Supply - Cross Elasticity of Demand - Income Elasticity of Demand

Theory of Consumer Behavior

- Consumer Behavior Assumptions - The Utility Theory of Demand - Law of Diminishing Marginal Utility - Maximum Utility - Maximum Utility - One Commodity - Maximum Utility - Various Commodities - Indifference Preference Theory - Indifference Curve - Indifference Map - Marginal Rate of Substitution - Budget Line - Consumer Equilibrium

Theory of Production
- Production Function - Short - Run Production - Law of Diminishing Marginal Returns - Stages of Production - Long - Run Production - Production Isoquant - Marginal Rate of Technical Substitution (MRTS) - Best Factor Combination and Profit Maximization - Isocost - Best Input Combination - Production and Return to scale

Midterm Examinations Module 3

Learning Strategies - Lecture Discussions - Independent Reading - Data Analyses - Group Dynamics - Library Work/ Research - Internet Researches

No. of Weeks - 4

Specific Objectives: At the end of the module, the students are expected to:

1. Discuss the Business Cycle; 2. Understand and discuss the causes of inflation; 3. Discuss the economic implications of the consumer price index; 4. Discuss certain procedures to maintain full employment and a reasonably stable price level that constitute monetary policy; 5. Learn and discuss the benefits afforded by international trade; and 6. Appreciate the importance of agrarian reform and taxation in the study of economics in the Philippines setting.

Cost of Production
- Short - Run and Long - Run - Cost of Production in the Short - Run - Average Cost - The U-Shape Cost Curve - Average Variable Cost, Average Total Cost, and Marginal Cost Curve - Long - Run Average Cost Curve

The Firm and Profit Maximization

- Introduction - Revenue - Profit - Profit Maximization - Total Cost - Total Revenue Approach - Marginal Cost - Marginal Revenue Approach - Characteristics of Market Situations

Introduction to Macroeconomics
- Importance of Macroeconomics - History of Macroeconomics - Focus of Macroeconomics - Goal of Macroeconomics

National Income Accounting

- Important Points in GNP Definition - Computation of GNP - Other Income Accounts - Nominal vs Real GNP - Limitation of GNP

Macroeconomics Issues: Inflation and Unemployment

- Demand - Pull Inflation - Cost - Push Inflation - Effects of Inflation - Unemployment Terminologies - Types of Unemployment

Pre-Final Examinations Module 4

- Lecture Discussion - Independent Reading - PowerPoint Presentations - Group Dynamics

No. of Weeks - 4

Specific Objectives: At the end of the module, the students are expected to: 1. Understand the concept of a market; and 2. Compare similarities and distinguished differences of the various market structures.

Pure Competition
- Pure Competition - The Demand Curve of a Competitive Firm and Industry - The Short - Run Supply Curve of the Competitive Firm and Industry - Short - Run Industry Supply Curve - Price and Output Determination in the Short - Run - Price and Output Determination in the Long - Run

Pure Monopoly
- Feature of Monopoly - Monopolist Demand Curve - No Monopolist Supply Curve - Monopolist's Cost - Price and Output Determination in the Short - Run - Marginal Revenue and Marginal Cost Approach - Monopoly and Price Determination - Condition of Price Discrimination - Price and Output in Price Discrimination

Monopolistic Competition
- Characteristics of Monopolistic Competition - Competitive Condition and Market Monopoly - Equilibrium Price and Output in the Short - Run - Equilibrium Price and Output in the Long - Run - Excess Capacity in Monopolistic Competition

Oligopoly
- Features of Oligopoly - Price and Output of Oligopoly - Price Rigidity - Kinked Demand Curve - Collusion - Preventing Collusion - Anti - Trust Law in the Philippines - Anti - Trust in the Oil Industry

The Comprehensive Agrarian Reform Program Final Exam Textbook

- Castaeda, Sherwin Prose C., Princiiples of Economics, 1st Edition c2007, Mutya Publishing House Inc.