ATENEO DE MANILA UNIVERSITY

LOYOLA SCHOOLS

COURSE SYLLABUS

COURSE NUMBER: EC 102

TITLE: Basic Economics, Agrarian Reform, and Taxation
DEPARTMENT: Economics
SCHOOL: Social Sciences
SEMESTER AND SCHOOL YEAR: First Semester, SY 2018-2019
NUMBER OF UNITS: 3
FACULTY: Jessalaine M. Bacani
SCHEDULE & VENUE: TTh/1400-1530/CTC 304 (Section C)
MWF/0800-0900/SEC-A205A (Section D)
TTh/1530-1700/CTC 301 (Section V)

A. Course Description

This course is concerned with the behavior and performance of the economy, the roles and functions of
the market, State, households and firms, and their interaction. In order to promote an understanding of the
economy, basic macroeconomic and microeconomic concepts and methodology are discussed.

B. Learning Outcomes

Upon completing the course, the students must be able to:

Content
1. Define all key concepts and principles covered in this course.
2. Identify the methodology used in the study of economics.
3. Apply demand and supply models to explain real-world events including the effects of
government policies.
4. Compare and contrast the different market structures.
5. Identify conditions leading to market failures.
6. Evaluate Philippines macroeconomic fundamentals and determine their policy implications.
7. Analyze how monetary, fiscal, and trade policies affect household and firms.

Skills
8. Graph demand and supply curves in different market situations and compute equilibrium
price and quantity values.
9. Compute and interpret elasticity coefficients.
10. Compute and interpret macroeconomic indicators.

Attitude
11. Express concern on the effects of market failures and share examples on how these can be
addressed.
12. Advocate efficiency in the use of resources in everyday activities.
13. Show continual desire to help alleviate some of the socio-economic problems in the country.
C. Course Outline and Planned Schedule

1. Introduction (MWF: August 15, 23 (Monday schedule) | TTh: August 16, 28)
1.1 What is economics?
1.2 Economics as a discipline
1.3 Ten principles of Economics
1.4 Why study economics?

2. The Theory of Supply and Demand (MWF: August 23, 24, 29, 31, Sept 3 | TTh: August 28, 30, Sept 4,
6)
2.1 The demand curve
2.2 The supply curve
2.3 Market equilibrium
2.4 Elasticity

Quiz 1 (MWF: Sept 5, TTh: Sept 6)

3. Basic Microeconomics (MWF: September 10, 12, 14, 17, 19, 21, 24, 26, 28, October 1, 3 | TTh:
September 11, 13, 18, 20, 25, 27, October 2)
3.1 Consumer behavior
3.2 Firm behavior
3.3 Market structures
3.4 Market failures

Midterm Review (MWF: October 5 | TTh: October 4)

Midterm Exam (MWF: October 8| TTh: October 9)

4. Basic Macroeconomics (MWF: October 10, 12, 15, 17, 19, 22, 24, 26, 29, 31, November 5 | TTh:
October 9, 11, 16, 18, 23, 25, 30, November 6)
4.1 Measuring economic activity and welfare
4.2 Measuring the cost of living
4.3 Production and growth
4.4 Savings, Investment, and the Financial System
4.5 Unemployment
4.6 Aggregate Demand and Aggregate Supply
4.7 Macroeconomic policies

Quiz 2 (MWF: November 7 | TTh: November 8)

5. Introduction to International and Development Economics (MWF: November 9, 12, 14, 16, 19, 21, 23,
26, 28 | TTh: November 13, 15, 20, 22, 27, 29)

5.1 International trade

5.2 Exchange rates
5.3 Economic growth and development
5.4 Agrarian reform and agricultural development

Concluding lecture (MWF: December 3 | TTh: December 4)

Final Review (MWF: December 5 | TTh: December 6)
Final Exam (2nd week of December)
D. Required Reading

Bautista, Cristina et al. 2013. Economics and Society. Quezon City: Ateneo de Manila University
Press.

Mankiw, N. Gregory. 2012. Principles of Economics. Singapore: Cengage Learning Asia Pte. Ltd.

E. Suggested Readings

Case, Karl, Fair, Ray, and Sharon Oster. 2011. Principles of Economics. Boston: Prentice Hall.

F. Assessment Methods (or Course Requirements):

Assessment Methods Weight Expected Learning Outcomes

Content Skills Attitude
1 2 3 4 5 6 7 8 9 10 11 12 13
Quiz 1 10% ✓ ✓ ✓ ✓ ✓ ✓
Midterm 35% ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Quiz 2 10% ✓ ✓ ✓
Comprehensive Final Exam 40% ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Class Participation 5% ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

G. Grading System

Grade %
A 92-100
B+ 87-91
B 83-86
C+ 79-82
C 75-78
D 70-74
F Below 70

H. Classroom Policies

1. Loyola Schools rules and regulations, as stipulated in the Bulletin of Information and the Student
Handbook (e.g. “Section E. Offenses Involving Dishonesty” under the Code of Discipline for Students in
the Student Handbook), must be followed.

2. Students are not allowed to use any electronic gadgets inside the classroom once the class begins. In case
of emergencies, students may quietly step out of the class to use their phones/laptops. Anyone caught using
an electronic device will be asked to step outside of the class.

3. Students displaying behavior that disrupts the class will receive a warning from the instructor at the end
of the class. Students who repeat the offense after the warning will be asked to step outside of the class.
4. Quizzes will be announced at least a week before the day of the quiz. Major exams will be announced at
least two weeks before the day of the exam.

5. Make-up for quizzes and major exams are given only under serious reasons judged by the instructor. In
case of make-up quizzes or exams, the instructor may still apply necessary penalties on the exam grade.

6. No extra work will be assigned to any student to raise his or her grade. However, some bonus points may
be given due to participation in certain school events, such as talks and seminars relevant to the course.

I. Consultation Hours

T-Th 12:30-13:50 or by appointment