IMP RTANCE OF

ECONOMICS
Economics
Studying economics aims to
Economics helps understand
improves problem- and addres
us identify the the problem s
solving, analytical, s of scarcit
policy measures which is w y,
communication, and hen human
that encourage wants for g
persuasion skills that oods and
prosperity and services ex
are critical for success ceed the
avoid inefficiency. available s
in present labor market. upply.

Th e s t u d y of
econ o m i cs do e s
not d ic ta t e t h e
Economics provides
answ e r s , b u t it ill fin d n e w
You w basis on everyday
n il lu m i na t e o f t h in kin g
ca ways events and issues.
fe r e n t c ho ic es. p e r s o n a l
dif abou t
an d b u s in e s s
c is io n s , a s w e ll
de
c u r r e n t e v e n t s
m as
all y ev e r y m a jo r p r o b l e
o li t i c s. Becoming an
Vi rt u
lo b al a nd p
w o rld t od a y , f ro m g economist is
facing th e a
r ld po v e rt y , t o t he sound profe
warm in g t o w o ssional
a n d A fg h a n i s ta n ,
conflic t s in S y r ia choice.
o m ic d im e n s io n . T o
ha s a n e c o n Marinduque State College

to t h o s e p ro ble m s , School of Governance

pro v id e s o lu tio n s Bachelor of Public Administration
u n d e r st a n d th e m .
we nee d to fir s t
 IMP RTANCE OF
ECONOMICS
SOURCES
Indradeep Gosh (2018); The Importance of Studying Economics in Today's World;
Financial Express; Retrieved https://www.financialexpress.com/education-
2/the-importance-of-studying-economics-in-todays-worl/1192135/

Rice University (n.d.) Retrieved

https://opentextbc.ca/principlesofeconomics/chapter/1-1-what-is-economics-and-
why-is-it-important/

Tejvan Pettinger (2019);; Economicshelp.org; Retrieved

https://www.economicshelp.org/blog/33/economics/the-importance-of-
economics/

Course Hero (n.d.); Retrieved https://www.coursehero.com/file/p3uel3d/A-basic-

understanding-of-economics-makes-you-a-well-rounded-thinker-When-you/

Lumen (n.d.); Retrieved

https://courses.lumenlearning.com/zelixeco201v2/chapter/welcome-to-
economics/

Marinduque State College HIde Yasu Y. Nakajima

School of Governance
Bachelor of Public Administration Faculty, SGov
EFFECTS F THE PANDEMIC
ON PHILIPPINE
ECON MY
A global economic recession
Macroeconomic impact
extremely affects the
includes a severe
Philippine economy.
reducation in GDP growth

A sharp drop in private consumption growth causes

a huge contraction in various economic activities

Potential trade deficit due to

Millions of
suspension of restrictions
unemployed adults
during the pandemic
in the Philippines
(currently at
around 7.3 million)
Since China is a top trade partner of
the Philippines is 2019, lesser demand
from China leads to a lower exports of
Marinduque State College
electronic data processing, bananas,
School of Governance
Bachelor of Public Administration
copper, and travel goods.
EFFECTS F THE PANDEMIC
ON PHILIPPINE
ECON MY
Unemployment and Quarantine and lockdown
underemployment rates protocols leads to a major
rise up in tourism and cut in jobs across all
aviation sectors. industries in PH

Delayed and probable shut down of on-going government and

commerical projects due to insufficient funds and labor workforce.

Limited access of essential resources

due to lowered and controlled
production of goods and services

Thousands of Filipino
Investing after the pandemic
families will be pushed
is confusing and risky due to
down into poverty.
severe recession economic
downfall of PH economy
Marinduque State College
School of Governance
Bachelor of Public Administration
EFFECTS F THE PANDEMIC
ON PHILIPPINE
ECON MY
Micro, small, and
medium enterprises
(SMEs) are at risk of a
temporary or even a
permanent closure
Closure of schools,
colleges,and universities
to avoid widespread
contagion of COVID-19
An estimated 7.6 million
families experiences
involuntary hunger as of
September 2020
Marinduque State College
School of Governance
Bachelor of Public Administration
Permanent closure of
big companies directly
affects all employees
and constituents
Students face distance
learning which compromises
the quality and utilization
of education.
Exponential increase of
death cases in the PH
A total of $7.76 billion of
loans, grants, and
assitance in response to
COVID-19 crisis
 EFFECTS F THE PANDEMIC
ON PHILIPPINE
ECON MY
SOURCES
https://voxeu.org/article/impact-covid-19-education
https://www.usnews.com/news/world/articles/2020-06-09/philippines-students-face-distance-
learning-until-covid-19-vaccine-found
https://www.neda.gov.ph/wp-content/uploads/2020/03/NEDA_Addressing-the-Social-and-
Economic-Impact-of-the-COVID-19-Pandemic.pdf
http://www.europe-solidaire.org/spip.php?article52772
https://rappler.com/newsbreak/in-depth/what-philippine-economy-could-be-like-after-coronavirus
https://www.worldmeters.info/coronavirus/country/philippines/
https://www.bworldometers.info/coronavirus/country/philippines/
https://www.bworldonline.com/looking-at-the-economy-amid-covid-19/
https://www.flandersinvestmenttrade.com/export/niews/coronavirus-situation-philippines
https://econ.upd.edu.ph/dp/index.ph/dp/article/view/1525
https://business.inquirer.net/296718/ph-output-losses-due-to-covid-19-lockdown-highest-in-
asean-5-says-uk-think-tank
https://cnnphilippine.com/business/2020/6/5/unemployment-April-2020-COVID-19.html?
fbclid=lwAR3SQWed2TCe89BZIYJUStxhECJV9101Ba5G9wu3E12XI-sqylZMQp95tl8
http://www.sws.org.ph/swsmain/generalArtclSrchPage/?
page=1&srchprm=&arttyp=6&stdtrng=&endtrng=&swityp-
https://business.inquirer.net/301506/covid-19-foreign-loans-grants-hit-7-76-billion
https://www.rappler.com/nation/hunger-philippines-sws-survey-september-2020

Marinduque State College

School of Governance
Bachelor of Public Administration
 Eko and Miya on the ‘New Normal’

(Zoom convo)

MIYA: Huy, Eko! Ano na nga palang nangyari dun sa negosyo mo?

EKO: Negosyo natin. Investor ka 'di ba?

MIYA: Kaya nga nagtatanong eh.

EKO: Eto na nga, kakausapin dapat kita dahil baka kailangan nating
mag-iba ng business model.

MIYA: Uy, bakit may pa-jargon ka diyan?

EKO: Hehe, yan advantage ng nasa bahay lang. Nagkaroon ako ng

oras makapag-aral online.

MIYA: Eh ano ba yung business model?

EKO: Ito yung paraan kung paano kikita ang isang negosyo – kung
sino ang bibili, bakit, at saan kukuha ng supplies.

MIYA: Ahh. So bakit mo papalitan yung business model natin?

EKO: Dahil may nagbago.

 MIYA: Nagbago ang alin?

EKO: Hello?! Nasa gitna kaya tayo ng pandemic. Kahit pa

nagrelax na ang lockdown, hindi pa rin gaanong lumalabas
ang mga tao. Sarado pa rin kasi ang ibang establishments.

MIYA: So ano na ang bagong negosyo mo?

EKO: Negosyo nga natin. Naisip ko ang food delivery

business eh.

MIYA: Eh ang dami dami nang—

EKO: Oo. Pero dahil nga sa mga pangyayari ay tumaas ang

demand sa deliveries. At dahil hindi pa bukas ang mga
restaurant, hotel, at mall ay malaki ang opportunities sa
ganitong uri ng negosyo.

MIYA: Hmmm. Okay.

EKO: Ito oh, may projections na ako. [shares screen]

MIYA: Nice! Promising ha.

 EKO: May sense ‘di ba? Nag-iba na kasi ang mundo.

MIYA: Oo, ibang iba na nga. Naks naman! Alam na alam mo

na ang ginagawa mo ah.

EKO: Hahaha! New normal na kasi. Magandang mag-

invest sa bagong learnings at skills sa panahong ito.

MIYA: Alam mo, tama ka diyan. Hmm, ano kaya ang ‘new
normal’ ko?

EKO: Baka yung laging pagsusuot ng mask? Hindi mo ako

tinigilan diyan nung nagkita tayo sa grocery eh.

MIYA: Ah oo! Makakatulong ang pagsusuot ng mask para

maprotektahan ang sarili laban sa virus at polusyon na
nasa paligid natin. Ang dami ko na ngang nabili online eh,
may iba’t-ibang kulay at designs pa. Hehehe.

EKO: Oh ‘di ba nga, tapos idedeliver na lang sa’yo.