BLESSED MOTHER COLLEGE

Tiano corner Kalambaguhan Streets,

Cagayan de Oro City
College of Business Administration
SY 2010-2011

COURSE SYLLABUS

Course Short Title : Econ 1

Course Descriptive Title : Introduction to Economics w/ LRT
Course Credit : 3 Units

I. Course Description : This course provides students with accurate understanding

of the basic principles and concepts of economics towards a
second decision making. It also covers taxation and
agrarian reform in the Philippines.

II. Course Objectives : Upon successful completion of Filipino 1, the student will
be able to:
Identify concepts of economics, agrarian reform and
taxation.

Value the importance of agrarian reform and tax

system in the promotion of social and economic progress of
the people and country.

III. Course Content : PRELIM

1. Introduction
1.1 Definition and Goals of Economics
1.2 Economics in Relation to Other Social Sciences
1.3 Branches of Economics
1.4 The Scientific Methods of Economics
1.5 Historical Contributions in the Development of
Economic Thought: Ancient, Medieval, Classes,
Neo-classical and Modern Periods
2. The Economic System
2.1 The 3 Basic Economic Problem
2.2 Money as Resource or Factors of Production
2.3 The Economic Style
2.4 Selected Countries Under Various Economic
System
2.5 Significance of Economic Systems
2.6 The Three ISMS: Capitalism, Communism and
Socialism
 2.7 The Circular Flow of Economy
2.8 The Law of Scarcity
2.9 Production Possibilities Frontier
3. Elements of Demand and Supply
4. Concepts of Elasticity
4.1 Types of Elasticity
4.2 Price Elasticity
4.3 Elasticity of Downward Sloping Straight Line
4.4 Other Measurement of Elasticity

MIDTERM
1. An Overview of Microeconomics
1.1 The Concept of Choice and Utility
1.2 Taste and Preference
1.3 The Law of Diminishing Marginal Utility
1.4 The Consumer Equilibrium
1.5 The Indifference Curve
1.6 The Budget Constraints
1.7 Finding Consumer Equilibrium Subject to the
Budget Constraints
1.8 Income Consumptions Curve and the Engel Curve
1.9 The Price Consumption Curve
1.10 Income and Substitution Effect
2. Concept of Production
2.1 Theory of Production
2.2 The Production Function
2.3 The Short-run Versus Long-run Analysis of
Production
2.4 Production with One Variable Inputs
2.5 Production with Two Variable Inputs
2.6 Finding Producers Equilibrium
3. Analysis of Cost, Profit and Total Reverence
3.1 Accounting Versus Economic Cost
3.2 Implicit Versus Explicit Cost
3.3 Short-run Cost Analysis
3.4 Long-run Cost Analysis
3.5 Long-run Marginal Cost
3.6 Profit Analysis

SEMI-FINAL
1. Market Structure
1.1 Perfect Market
1.2 Imperfect Market
2. Measuring the Economy
2.1 Measuring Income and Output
2.2 The Gross National Product
 2.3 Philippine GNP Active Account
2.4 GNP Versus GDP
2.5 Real GNP Versus Nominal GNP
3. Consumption and Saving
3.1 Consumption
3.2 The Marginal Prosperity to Consume MPC
3.3 The Average Prosperity to Consume APC
3.4 The Savings Function
3.5 The Marginal Prosperity to Save MPS
3.6 The Leverage Prosperity to Save APC
3.7 The Multiplier
4. Aggregate Expenditure Model
4.1 Keynesian Economics Versus Classical Economics
4.2 The Initial Aggregate Expenditure Model
4.3 Adding Gross Investment Component to the Model
4.4 Adding Government Spending to the Aggregate
Expenditure Model without Taxation
4.5 Effect of the Imposition of Tax
4.6 Adding Net Export: Component to the Model
4.7 Equilibrium GDP
4.8 Computing for the Government Multiplier
4.9 The Classical Equilibrium: Aggregate Demand and
Aggregate Supply
4.10 The Keynesian Model of Income
Determination
4.11 The Keynesian Consumption Function
5. Business Cycle, Unemployment, and Inflation
5.1 Business Cycle
5.2 Unemployment
5.3 Okeene’s Law
5.4 Inflation
5.5 Phillips Curve and Stagflation
5.6 Theotetical Bases of International Trade
5.7 The Need for Trade Protection of Developing
Nation
5.8 The Foreign Exchange Market
5.9 The Foreign Exchange Rate
5.10 Demand and Supply in the Foreign
Exchange Market
5.11 The Balance of Payment
6. Monetary and Final Policy
6.1 Monetary Policy
6.2 Fiscal Policy

FINAL
1. Agrarian Reform
 1.1 Agrarian Reform in the Philippines
1.2 Land Reform Versus Agrarian Reform
1.3 Principles Behind Agrarian Reform
1.4 Coverage of Agrarian Reform
1.5 Procedure of Land Acquisition
1.6 Voluntary Land Transfer
1.7 Kinds of Tenant Practices
1.8 Land Distribution of CARP
1.9 Payment by Beneficiaries
1.10 Prohibited on Awarded Lands
1.11 Funding Sources of CARP
1.12 Government Funding for Support Services
to Beneficiaries
1.13 Government Agencies Involved in the
Implementation of CARP
2. Taxation
2.1 Concepts of Taxation and Income Taxation
2.2 Definition of Taxation
2.3 Concept of Taxation
2.4 Principles of Theories of Taxation
2.5 Tax Structure
2.6 Significance of Taxation
2.7 Essential Characteristics of Tax
2.8 Basic Principles of a Sound Tax System
2.9 Classification of Taxes
2.10 Distinction of Tax from Other Terms
2.11 Entities Exempted from Taxation
2.12 Kinds of Taxes Under Existing Law
2.13 Classification of Taxpayers
2.14 Tax Remedies of the Government
2.15 Income Taxation
2.16 Classification of Income Tax
2.17 Classification of Individual Taxpayers
2.18 Who Skill Fine
2.19 Basic Personal Exemptions
2.20 Allowable Deductions from Gross Income
2.21 Computation of Income Tax
2.22 Revised Withholding Tax Table

IV. Course Requirement : 1. Attendance in Classes

2. Participation in Class Discussions
3. Submission of Term Paper
4. Oral and Written Report
5. Passing Grade for Quizzes and Major Exams

V. Course Grading System :

 Class Standing - 50%
Term Exam - 40%
Conduct - 10%
100%

Class Standing Comprises:

1. Quizzes - 40%
2. Simulation Project - 20%
3. Class Participation - 20%
4. Assignment - 10%
5. Attendance - 10%
100%

VI. Course Reference : Economies: Its Concepts and Principles With Agrarian
Reform and Taxation
By Gabay, Bon Kristoffer G., Remotion, Roberto M. Jr.,
Uy, Edgar Allan M.

Prepared by:

Angelica Guzman-Omlas, MBA