Syllabus in Economics with Land Reform and Taxation, Page 1 of 7

The Fisher Valley College No. 5, M. L. Quezon St., Hagonoy, Taguig City Phase 2, Bgy. Pinagsama, Taguig City Phone: 839-1903/394-6695 Website: www.fishervalleycollege.edu.ph _____________________________________________________________________________

COURSE SYLLABUS
1st Semester, A.Y. 2013-2014

COURSE TITLE : ECONOMICS WITH LAND REFORM AND TAXATION COURSE CREDITS : 3 units CLASS SCHEDULE : Monday, 10:00-1:00; Friday, 4:00-7:00; Saturday, 1:00-4:00; 4:00-7:00 CLASS WEBSITE : http://tfvc2014.weebly.com COURSE INSTRUCTOR: Marlon B. Raquel CONTACT NUMBER : 839-1903 (Main Campus); 394-6695 (C5 Annex) EMAIL ADDRESS : raquel.marlon@yahoo.com

COURSE DESCRIPTION: This course covers a comprehensive study of economics and the economics of land reform and taxation. Topics include important concepts in economics, circular flow of economic activities, demand and supply, theory of production, theory of cost and profit, different economic systems, national income accounting, monetary policy, international trade, cooperatives, globalization, and measuring and forecasting demand. The last part of the course deals with the Comprehensive Agrarian Reform Program (CARP) and principles of taxation.

LEARNING OBJECTIVES: At the end of the semester, the student should be able to: 1. Appreciate 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; 2. Demonstrate how a market is driven by individual decision; 3. Utilize appropriate economic concepts and principles in evaluating economic problems, issues and other related economic concerns; and 4. Operate different equations in economics and graph various equations.

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COURSE OUTLINE: 1ST WEEK INTRODUCTION Getting to Know Each Other Course Orientation and Discussion of Syllabus ECONOMICS: AN INTRODUCTION Basic Terms in Economics Economic Resources Types of Economic Systems The Economizing Habit and the Tools of Economics National Development Goals THE CIRCULAR FLOW OF ECONOMIC ACTIVITIES Economic Model of Production Economic Model of Income and Consumption The Circular Flows of Physical Goods and Money Income Inflows and Outflows 3RD WEEK DEMAND AND SUPPLY The Market The Law of Demand Shifts in Demand Curve Supply Shifts in Supply Curve Market Equilibrium Shifts in Demand and Supply Elasticity of Demand and Supply THEORY OF PRODUCTION Production Function The Law of Diminishing Returns Production Isoquant The Isocost Line The Least-Cost Combination Returns to Scale 4TH WEEK THE THEORY OF COST AND PROFIT Cost Concepts Imputed and Opportunity Costs Fixed and Variable Costs Marginal and Average Cost Total and Marginal Cost The Shutdown Price

2ND WEEK

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5TH WEEK
6TH WEEK

PRELIMINARY EXAMINATION
PURE COMPETITION Pure and Perfect Competition A Note on Profits Profit Maximizing Output Loss Minimizing Case The Breakeven Price The Shutdown Price Long-Run Adjustments An Evaluation of a Competitive Market MONOPOLY The PLDT Story Short-run Equilibrium Profit Maximization: Total Curve The Long Run Price Discrimination The Welfare Effects of Pure Competition Monopolies in Philippine Setting IMPERFECT COMPETITION Monopolistic Competition Short-run Equilibrium Adjustments: Open Entry Welfare Effects of Monopolistic Competition Oligopoly Collusion vs. Independent Action The Centralized Cartel The Kinked Demand Curve The Profitability of Oligopolies The Welfare Effects of Oligopoly

7TH WEEK

8TH WEEK

NATIONAL INCOME ACCOUNTING GNP Accounting: Meaning, Purpose, and Limitations GNP Accounting: Expenditure Approach GNP Accounting: Income Approach Factor Contribution by Sector Gross domestic product vs. gross national product Current vs. Real GNP

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9TH WEEK

MONEY AND MONETARY POLICY Functions of Money Money Supply Banks and Money Supply Functions of Bangko Sentral ng Pilipinas Monetary Policies INTERNATIONAL TRADE The Need for Trade Evolution of the Market Economy Is There a World Economy? Mercantilism Trade Practices and Policies Balance of Payments Some of Our Trade Problems

10TH WEEK
11TH WEEK

MIDTERM EXAMINATION

GLOBALIZATION Philippines 2000 What is APEC? Peoples Assembly Labor Women Food Security Features of Globalization Present in the Philippines The Crisis of Globalization COOPERATIVES History of Cooperatives The Cooperative Development Authority Cooperative Principle Types of Cooperatives Kinds of Cooperatives General Steps in Forming a Cooperative MEASURING AND FORECASTING DEMAND Need for a Forecast Defining the Market Measuring Current Market Demand Forecasting Future Demand Forecasting Models

12TH WEEK

13TH WEEK

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Qualitative Techniques Choosing the Appropriate Forecasting Technique

14TH WEEK
15TH WEEK

PRE-FINAL EXAMINATION

THE COMPREHENSIVE AGRARIAN REFORM PROGRAM Land Reform Before 1972 Coverage of CARP Creation of Support services Land Distribution Funding the Agrarian Reform Law TAXATION PART 1 Fiscal Policy Sources and Uses of Public Funds Taxation: A Tool Principles of taxation Burden of Taxation Income Distribution The Uses of Fiscal Policy TAXATION PART 2 Definition of: Income, Income Tax, Gross Income, and Taxable Income Personal and Additional Exemptions Computation of Individual Income Tax Filing of Returns and Payment

16TH WEEK

17TH WEEK

18TH WEEK

FINAL EXAMINATION

COURSE REQUIREMENTS AND GRADING SYSTEM: The College issues two grades for the semester midterm grade and final grade as per Article X, Section B of the College Student Handbook. I will be using the following grading system in the computation of your grades. Midterm Grade: Prelim Exam (Written Exercises) Midterm Exam Critique Essays Online Assignments Final Grade: 30% Midterm Grade 30% Pre-final Exam (Written Exercises) 20% Final Exam 20% Research Paper 100% Online Assignments

40% 20% 20% 10% 10% 100%

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Major Examinations: Four major examinations will be given throughout the semester. These are prelim, midterm, pre-final, and final exams. A combination of multiple-choice questions (MCQ), essay questions, and other types of tests will be given. The examinations will be conducted during examination weeks. Each exam is equivalent to 100 points. The passing score is 50 points. I will be using the following formula in determining the equivalent percentage for your scores: Grade = (Score /No. of Items) x 50 + 50 for example, (50/100) x 50 + 50 = 75%

Critique Essays: From time to time, you will be instructed to write a news analysis or reaction paper on certain economic issues that dealt with the Philippine economy at large. You need to make a compilation of these critique essays in a portfolio. This is an individual work. In writing your essays, use the following guidelines. 1. Use 8.5 x 11 bond paper. 2. There should be one inch in all margins. 3. It must be double-spaced all throughout the essay EXCEPT for quotations or excerpts which must be single-spaced. 4. Use Times New Roman (12-point font size) only. 5. The critique paper must be printed in black ink ONLY. 6. Each critique essay must have a minimum of 300 words. This is equivalent to 1 page. Submit your portfolio during the midterm examination day. Late submission will not be accepted. Do not copy from websites. It will be you who will analyze issues, not other people. Research Paper: The class will be divided to several groups with at least five (5) members in each group. Each group will write a research paper which will be presented orally on the 2 nd week of October. A Powerpoint presentation is required together with the final output of your research. Each group will focus on ONE TOPIC only. The following are good examples of topics to work on in your research paper: 1. Assessment of Economic Policies of Taguig City Mayor Lani Cayetano 2. Flat Rate Tax? Perceptions from TFVC Working Students 3. Survival of the Fittest: The Case of 7-Eleven and Mini-Stop Shops 4. A Rising Asian Tiger: Analysis of Philippine Economy 5. Other topics To do this, each group needs to prepare questionnaires, conduct surveys and/or interviews, and use simple statistical techniques to analyze the data gathered.

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Online Assignments: An assignment will be given every two weeks. You need to visit our class website at www.tfvc2014.weebly.com for instructions and details. Please be reminded of the deadlines of submission. To avoid the rush, submit your answers BEFORE the deadline, NOT on the due date of submission. I will inform you in class once the questions are posted online. Answers submitted through email or handed down to me in class (printed copy) will not be credited. All answers need to be submitted on the website itself. Familiarize yourself with computers, websites, and other technology-based stuff. You are provided with internet card by the school which is included in your school fees. Visit the Computer Laboratory for available time so that you can do your assignments if you dont have your own computer and internet. Also, you need to have an email account and a Facebook account because you will use them during the submission of your online assignments. Attendance: While attendance is not a component of your grade, your attendance will be checked regularly. You need to affix your signature on the attendance sheet that will be provided to you before the class discussion starts. Please take note that the maximum allowable absences are four (4) sessions only. On your fifth absence, you will be dropped from this course regardless of the reason for absence EXCEPT if you or your family member is sick. In this case, you need to present a medical certificate.

TEXTBOOKS: Nayve, Benito, and Virgilio Pagoso (2008). Principles of Economics. Paraaque City: Nelson Publication REFERENCES: Aban, Benjamin (2006). Law of Basic Taxation in the Philippines. Manila: National Book Store De Leon, Hector S. (2005). Textbook on Agrarian Reform and Taxation. Quezon City: Rex Book Store De Leon, Hector S. (2008). Textbook on the Philippine Constitution. Quezon City: Rex Book Store, Inc. Websites: www.gov.ph, www.neda.gov.ph, www.econ.upd.edu.ph, www.census.gov.ph Newspapers, video materials, etc . www.pids.gov.ph, www.nscb.gov.ph,