Principles of Economics

Description:

Introduction to economic theory and applications; economic systems; supply and demand; market efficiency; taxation; international trade; production; firm behavior and industry organization; national income; prince indices; financial system; labor market and unemployment; money growth and inflation; monetary and fiscal policy.

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Topics:

1. Introduction to Economics and Economic Systems
a. What is Economics?
b. Microeconomics and Macroeconomics
c. Understanding Economic Issues
d. Overview of Economic Systems
e. Scarcity

2. Supply and Demand
a. Supply, Demand, and Equilibrium in Market
b. Supply and Demand for Goods and Services
c. Equilibrium Prince and Quantity
d. Price Ceilings and Price Floors
e. Supply, Demand, and Efficiency

3. Elasticity
a. Price Elasticity of Supply and Demand
b. Polar Cases of Elasticity
c. Constant Elasticity
d. Elasticity and Pricing
e. Elasticity in Other Areas

4. Consumers, Producers, and Market Efficiency
a. Consumption Choices
b. Changes in Income and Prices
c. Labor-Leisure Choices

5. Costs of Taxation
a. What is Taxation?
b. History of Taxation in the Philippines
c. Types of Taxes
d. Structure and Procedures in Taxation
e. Sources of Tax Information
f. Government Spending
g. National Debt

6. International Trade
a. History and Development of International Trade
b. Imports and Exports
c. Reducing Barriers to International Trade
d. Philippine Economic Trading Partners

7. Externalities
a. Economics of Pollution
b. Command-and-Control Regulation
c. Market-Oriented Environmental Tools
d. Philippine Environmental Laws
e. International Environmental Issues
d. Relationship of Economic Output and Environmental Protection

8. Public Goods and Common Resources
a. Public Goods
b. Types of Economic Resources

9. Costs of Production
a. Short Run Costs
b. Long Run Costs
c. Output Decisions

10. Firm Behavior and Industry Organization
a. Competitive Markets
b. Monopoly
c. Oligopoly
d. Monopolistic Competition

11. National Income
a. Government Revenue

12. Price Indices
a. Price Index

13. Growth
a. Economic Growth
b. Labor Productivity
c. Components of Economic Growth
d. Economic Convergence

14. Saving, Investment, and the Financial System
a. Personal Finance
b. Management of Personal Wealth
c. Investment
d. Financial Capital

15. The Labor Market and Unemployment
a. Supply and Demand at Work
b. Issues in Labor Markets
c. Unemployment Rate
d. Patterns of Unemployment

16. Money, Money Growth, and Inflation
a. Money and its Functions
b. International Currency
c. Exchange Rates
d. Money and Banking
e. Inflation

17. Aggregate Demand and Aggregate Supply
a. Macroeconomic Perspective on Supply and Demand
b. Aggregate Demand and Aggregate Supply Model
c. Keynes' Law
d. Say's Law

18. Monetary Policy and Fiscal Policy
a. Philippine Banking System and Central Banks
b. Philippine Monetary Policy
c. Philippine Fiscal Policy
d. Impacts of Government Borrowing

ADDITIONAL TOPICS

19. Overview of Economic Status of Other Countries Around the World
a. Economic Superpowers
b. Third World Countries
c. Other Countries
i. East Asia
ii. South East Asia
iii. Middle East
iv. Africa
v. North and South America
vi. Europe
vii. Oceania

20. Agrarian Reform


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