ECONOMICS DEPARTMENT

COURSE SYLLABUS

College: School of Economics

Department: Economics
Course Code: Introduction to Macroeconomics (ECONTWO)
Pre-requisite: Introductory Microeconomics (ECONONE)
Instructor: Ma. Ella C. Oplas
Term/ Time/ Room Term 1, AY 2022-2023
(MH)9:15-10:45

COURSE DESCRIPTION:

This course introduces students to the basic concepts, school of thoughts, policies and tools in
macroeconomics. Upon learning the basics, students will be exposed to deeper discussions of
issues which include but not limited to macroeconomic goals; the implications of the covid-19
pandemic to the economy; and assess the actions taken by the Philippine government towards it.

School of Economics Expected Learning Outcomes (LOs):

Lasallian Graduate Attributes On the completion of the course, the student is expected to
(ELGAs) be able to do the following

Intellectual Inquisitiveness
Technical Proficiency
Critical Thinking
Agent of Positive Social
Change
Identify and analyze the different issues involving
unemployment and inflation, government budget deficits,
exchange rates and other policy concerns and provide the
necessary macroeconomic policy recommendations to
achieve the macroeconomic goals of a country.

Learning Outcome Required Output Due Date

Identify the different issues Group video presentation of

involving unemployment and
inflation, investment,
government budget deficits,
exchange rates and other
policy concerns and provide
the necessary policy tools to
achieve the macroeconomic
goals of a country.
assigned cases identifying a To be presented during the
key macroeconomic issue of last two weeks of the term
a topic and providing sound
policy tools necessary to
achieve the macroeconomic
goals of the country.

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RUBRIC FOR ASSESSMENT

Rubric for Written, Individual and Group Project

Learning Excellent Very Satisfactory Needs

Outcome/Criter (90-100) Satisfactory (70-79) Improvement
ia (80-89) (0-69)

Identification of Clearly Clearly Rudimentary Does not clearly

key issues recognizes the recognizes the problem identify the
basics of the basics of the identification. problem.
issue and issue and Identifies main Identifies an
subsidiary, includes some of problem but inappropriate
embedded or the subsidiary omits relevant problem or
implicit aspects issues. issues. Does not represents the
of the problem. identify the issue
Clearly relationship inaccurately.
addresses the between
relationship different aspects
among or issues.
subsidiary
issues. Identifies
not only the
basics of the
issue but also
recognizes
subtle nuances
of the issue.

Applies Provides Provides several Provides data(s) Provides

appropriate complete and appropriate but does not inappropriate
supporting appropriate data(s) to explain how it data(s) to
data(s) data(s) to support the supports the support the
support the issue at hand issue at hand issue at hand
issue at hand

Analysis of Detailed and Detailed and Provides broad Provides

Issues accurate accurate analysis of inadequate
analysis of analysis of issues without analysis of
issues and how issues discussion on its issues
it impacts on the impact on the
economy economy

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Provides Provides a clear Provides Provides limited Provides
solutions to the cut solution(s) to solution(s) to the solution(s) to the inadequate
issues the issues at issues at hand issues at hand solution(s) to the
hand and clearly and explains and explains issues at hand
explains why why such policy why such policy
such policy is is appropriate in is appropriate in
appropriate in solving the solving the
solving the problem problem
problem

Evaluation Examines the Notices the Identifies some Fails to draw

impact of other difference of conclusions. conclusions.
alternative other alternative Sees some Sees no
policies and policies. arguments. arguments.
clearly explains Formulates Identifies some Overlooks
the effect on conclusions. differences. differences.
solving the Paraphrases Repeats data.
problem data. Omits research.
Examines
conclusions.

Presentation Discusses Argues clearly. Misconstructs Omits argument.

issues Identifies issues. arguments. Misrepresents
thoroughly. Attributes Generalizes issues. Excludes
Provides clear sources. issues. Cites data. Draws
cut solution(s). Suggests sources. faulty
Shows solutions. Presents broad conclusions.
intellectual Incorporates solutions. Does not cite
honesty. information. Overlooks some sources.
Justifies information.
decisions.

COURSE ASSESSMENT/EVALUATION: (PASSING RATE: 70%)

Recitation 10%

Class Activity (total 8) 40%

Current Events Reporting 20%

Group Project (video + class 30%

presentation)

Total 100%

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LEARNING PLAN

WK DAY SESSION ACTIVITIES REFERENCES

1 09/05 Course Brief

09/08 Introduction to Macroeconomics Chapter 20

Case, K., Fair, R. and
Oster, S. (2012).
Principles of Economics
(10th edition). Pearson
Publishing.

2 09/12 RESEARCH BREAK

09/15 Macroeconomic Goal 1: Low Unemployment

Class Activity 1: In or out? Chapter 22

Case, K., Fair, R. and
SUBMISSION OF CONCEPT PAPER: GROUP Oster, S. (2012).
PROJECT Principles of Economics
(10th edition). Pearson
Publishing.

3 09/19 THEME: LOW UNEMPLOYMENT

1. Ordinario, Cai (November 4, 2021) Rising
“Overemployed” Stirs Concern. Business
Mirror Downloaded from
https://businessmirror.com.ph/2021/11/04/risin
g-overemployed-numbers-stir-concern/

2. Ordinario, Cai (July 8, 2022) With 6% May

jobless rate, creating work vital. Business
Mirror. Downloaded from:
https://www.pressreader.com/philippines/busin
essmirror/20220708/282046215804200

09/22 Macroeconomic Goal 2: Sustained Growth Chapter 21

Case, K., Fair, R. and
Class Activity 2: Getting familiar with the Oster, S. (2012).
ABCs of Economic Growth Principles of Economics
(10th edition). Pearson
Publishing.

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4 09/26 THEME: SUSTAINED GROWTH

3. Ordinario, Cai (April 25, 2022) FIES: Informal

Sector’s Share in Income Lower. Downloaded
from
https://businessmirror.com.ph/2022/04/25/fies-
informal-sectors-share-in-income-lower/

4. Simeon, Louise Maureen (January 28, 2022)

Economy beats forecasts, expands by 5.6 in
2021. BusinessMirror. Downloaded from:
https://www.philstar.com/business/2022/01/28/
2156807/economy-beats-forecasts-expands-
56-2021

5. Rosales, Elijah Rosales (February 25, 2022)

Economists bat for full reopening. Philippine
Star. Downloaded from
https://www.philstar.com/business/2022/02/25/
2163158/economists-bat-full-reopening

0929 Macroeconomic Goal 3: Stable Prices Chapter 22

Case, K., Fair, R. and
Class Activity 3: Minimum Wage Rate Oster, S. (2012).
Proposal: Yay or Nay? Principles of Economics
(10th edition). Pearson
Publishing.

5 10/03 THEME: STABLE PRICES

6. Oplas, Jr. Bienvenido (August 29, 2022) SMC

Petition for Power Increase. My Cup of Tea.
Businessworld. Downloaded
from:https://www.bworldonline.com/opinion/20
22/08/29/471194/abs-tv5-partnership-smc-
rate-hike-petition-and-budget-2023/

7. Ordinario, Cai (June 7, 2022) Slowing Poverty

War Seen on 5.4% Inflation. BusinessMirror.
Downloaded from
https://businessmirror.com.ph/2022/06/07/slow
ing-poverty-war-seen-on-5-4-inflation/

8. Nicolas, Bernadette (July 26, 2021) Financial

Reforms laid good foundation, the rest of
CTRP needed in recovery effort.
Businessmirror. Downloaded from:
https://businessmirror.com.ph/2021/07/26/fina
ncial-reforms-laid-good-foundation-but-rest-of-
ctrp-needed-in-recovery-effort/

5
 10/06 RESEARCH BREAK 2 (Concept Paper Consultation with Professor)

6 10/10 School of Thoughts

SUBMISSION OF FINAL CONCEPT PAPER:

GROUP PROJECT

10/13 THEME: SCHOOL OF THOUGHTS

9. Oplas, Bienvenido, Jr (July 11, 2022) The SC

on Meralco rate hike, Bidenflation and Peso
depreciation. Businessworld. My Cup of Liberty.
Downloaded from
https://www.bworldonline.com/opinion/2022/07
/11/460486/the-sc-on-meralco-rate-hike-
bidenflation-and-peso-depreciation/

10. Kennedy, Simon (July 11, 2022) Abenomics

After Abe in Japan and the World. Bloomberg.
Downloaded from:
https://www.bloomberg.com/news/newsletters/
2022-07-11/what-s-happening-in-the-world-
economy-the-legacy-of-abenomics

11. France-Presse, Agence (2022) Thaksin’s

“Little Girl” Takes Shinawatra brand to new
Thai Generation. The Manila Times. Asia and
Ocieania. Downloaded from
https://www.manilatimes.net/2022/06/14/news/
world/thaksins-little-girl-takes-shinawatra-
brand-to-new-thai-generation/1847288

7 10/17 Fiscal Policy 1: (Revenue – Expense) Chapter 24-25

Case, K., Fair, R. and
Class Activity 4: Philippine National Oster, S. (2012).
Accounting Principles of Economics
(10th edition). Pearson
Publishing.

10/20 Fiscal Policy 2: (Debt)

Class Activity 5: To borrow or not to borrow?

8 10/24 THEME: FISCAL POLICY

6
 12. Nicolas, Bernadette (May 26, 2022) Delaying
PIT Cuts, New Taxes to Fuel Inflation.
Businessmirror. Downloaded from:
https://businessmirror.com.ph/2022/05/26/dela
ying-pit-cuts-new-taxes-to-fuel-inflation/

13. Rosales, Elijah Felice (March 28, 2022) Debt

Challenge awaits next administration.
Philippine Star. Downloaded from:
https://www.philstar.com/business/2022/03/28/
2170281/debt-challenge-awaits-next-
administration

10/27 Monetary Policy: The Role of Money Chapter 24

Case, K., Fair, R. and
Oster, S. (2012).
Principles of Economics
(10th edition). Pearson
Publishing.

9 11/07 Monetary Policy: Instruments Chapter 25-26

Case, K., Fair, R. and
Class Activity 6: Three Little Pigs went to Oster, S. (2012).
market Principles of
Economics (10th
edition). Pearson
Publishing.

11/10 THEME: MONETARY POLICY

14. Rosales, Elijah Felice (2022) BSP targets 1-

digit bank reserve ratio. Philippine Star.
Downloaded from:
https://www.philstar.com/business/2022/06/14/
2188130/bsp-targets-1-digit-bank-reserve-ratio

15. Agcaoili, Lawrence (July 10, 2022) BSP

extends P11.6 Billion Rediscount loans in H1.
Philippine Star. Downloaded from
https://www.philstar.com/business/2022/07/10/
2194253/bsp-extends-p116-billion-rediscount-
loans-h1

10 11/14 Exchange Rate Policy Chapter 35

Case, K., Fair, R. and
Class Activity 7: Towards Single Currency or Oster, S. (2012).
not? Principles of Economics
(10th edition). Pearson
Publishing.

7
 11/17 THEME: EXCHANGE RATE POLICY

16. Oplas, Jr. Bienvenido (July 11, 2022) FEF

Forum. Downloaded from:
https://www.bworldonline.com/opinion/2022/07
/11/460486/the-sc-on-meralco-rate-hike-
bidenflation-and-peso-depreciation/

17. Caraballo, Mayvelin (July 8, 2022) Peso falls

to nearly 17-year low. Manila Times.
Downloaded from
https://www.manilatimes.net/2022/07/08/busin
ess/top-business/peso-falls-to-nearly-17-year-
low/1850175

11 11/21 RESEARCH BREAK 3

11/24 Applied Cases: Group Video Presentation

Group #8 President Marcos (Pre-Martial Law)
Group #7 President Marcos (Post-Martial Law)

12 11/28 Applied Cases: Group Video Presentation

Group #6 President Aquino
Group #5 President Ramos

12/01 Applied Cases: Group Video Presentation

Group #4 President Estrada
Group #2 President GMA (Impeachment)

13 12/05 Applied Cases: Group Video Presentation

Group #2 President GMA
Group #1 President Aquino

GUIDELINES FOR CURRENT EVENTS REPORTING

1. Current events article will be assigned to the students;
2. Students are supposed to research about their assigned event in relation to the
theme. (e.q. the implication of Japanese aging population to Low Unemployment
Goal).
3. Students are to prepare a 5-minute video (vlog format with student appearing on the
video) responding to the following questions
a. What is the current event about? Provide short background.
b. What is the current state of the event? (Provide status)
c. What is the implication/link of your event to the theme?
d. What was done and what were the key results of reforms done?
e. Your assessment. (Personal analysis. Refrain from copying other opinions. I
want yours)
f. What are your conclusion and recommendation to the stakeholders in the
case?

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 g. What are your recommendations to PBBM based on your assessment and
conclusion?

GUIDELINES FOR GROUP PROJECT

1. Students will be group into 8 groups representing the past presidents of the
Philippines:
a. Pre-Martial Law Marcos
b. Post Martial Law Marcos
c. Cory Aquino
d. Fidel V Ramos
e. Joseph “Erap” Estrada
f. Gloria Macapagal Arroyo
g. Benigno Noynoy Aquino
h. Ferdinand Marcos Jr.

2. Students are supposed to research about their assigned president in relation to

their Fiscal, Monetary and Exchange Rate Policies.
3. Students are to prepare a 20-minute video (vlog format with student appearing on
the video) responding to the following questions
a. What are the key reforms implemented by your president during his/her
term? president in relation to their Fiscal, Monetary and Exchange Rate
Policies.
b. In terms of macroeconomic goals, how were the key economic initiatives
your president? How would you rate his/her excellency? Fail, Fair or
Success?
c. Your assessment. (Personal analysis. Refrain from copying other opinions. I
want yours)
d. What are your conclusion and recommendation to the stakeholders in the
case?
e. What are your recommendations to PBBM coming from your assessment
and conclusion?

MAIN REFERENCE:
Case, K., Fair, R. and Oster, S. (2012). Principles of Economics (10th edition). Pearson
Publishing.

SUPPLEMENTARY REFERENCES:
1. The Rising Toll of Student Debt More than Graduates Can Sustain.
https://www.mckinsey.com/industries/public-and-social-sector/our-insights/the-rising-toll-of-
student-debt-more-than-graduates-can-sustain
2. Castell, M., Dacuycuy, L., Dumlao, S., Taningco, A. and Tullao, T. (2013). The International
Discussions on the Credit Rating Agencies and Enhancing Infrastructure to Strengthen the
Regional Credit Rating Capacity. Submitted to the ASEAN+3 Research Group.
(http://www.asean.org/wp-
content/uploads/images/2013/economic/de%20la%20salle%20university%20-
%20angelo%20king%20institute%20dlsu%20-%20aki.pdf)

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2. Castell, M., Dacuycuy, L., Taningco, A. and Tullao, T. (2012). Roles and Functions of the
Banking Sector in the Financial System of the ASEAN+3 Region. Submitted to the ASEAN+3
Research Group. February 2012. (http://www.asean.org/wp-
content/uploads/images/archive/documents/ASEAN+3RG/2012/Roles%20and%20Functions%2
0of%20the%20Banking%20Region_Angelo%20King%20Institute_Final.pdf)
3. Castell, M., and Dacuycuy, L. 2009. Exploring the use of Exchange Market Pressure and
RMU Deviation Indicator for Early Warning System (EWS) in the ASEAN+3 Region. January
2009. (http://www.philjol.info/index.php/BER/article/view/790)

Newspaper Articles
1. Rosales, Elijah Felice (June 29, 2022) Weak peso may limit government financing options.
Philippine Star. Downloaded from
https://www.philstar.com/business/2022/06/29/2191563/weak-peso-may-limit-government-
financing-options
2. Nicolas, Bernadette (July 29, 2022) Better loan access to farmers: Agri-Agra bill lapses into
law. BusinessMirror Downloaded from https://businessmirror.com.ph/2022/07/29/better-loan-
access-to-farmers-agri-agra-bill-lapses-into-law/
3. Rosales, Elijah Felice (June 6, 2022) Hard to pall all fiscal reforms in transition plan, says
Salceda. Downloaded from: https://www.philstar.com/business/2022/06/06/2186253/hard-pass-
all-fiscal-reforms-transition-plan-says-salceda
4. Oplas, Jr. Bienvenido (February 14, 2022) Harm Reduction – Beer, Diet Coke and Vapes My
Cup of Tea. Downloaded from:https://www.bworldonline.com/opinion/2022/02/14/429853/harm-
reduction-beer-diet-coke-and-vapes/
5. Ordinario, Cai (March 16, 2022) Can Targeted Aid Keep Pinoys from Poverty?
BusinessMirror. Downloaded from
https://www.pressreader.com/philippines/businessmirror/20220316/281492164796946

CLASS POLICIES, TEACHING METHODOLOGY AND TECHNIQUES

Methodology - The course employs a participatory type of methodology allowing dynamic

exchange/sharing of ideas in an atmosphere where everyone assumes the role of learners and
learning facilitators. It will utilize the following methods: lecture–discussion, workshops and
small group discussions, film showing, interviews with different groups. All lecture-discussion
will be done synchronously in ZOOM:

https://zoom.us/j/96152529913?pwd=OUN4UGpRcHNEMll6L3diTUF6bVNWdz09
Meeting ID: 961 5252 9913
Passcode: OPLAS

1. Lecture-discussion – There is no single prescribed textbook for this course. Students will
have to rely on lectures and read assigned material so they active participation in the class
discussion. Other reading materials will be added to the list as may be necessary.

Each topic will end with a class activity either synchronous or asynchronous.

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2. Current Events Reporting – Students will be randomly assigned with a topic and reporting
schedule. Main references will be provided but students are expected to supplement with
other materials.

3. Video Presentation – Students are expected to substantially research on the topic

assigned to their group and convert their report to a 20-minute video presentation.

a. Week 2 – Research Break for asynchronous research and group meeting

b. Week 2 – Submission of Concept Paper (Minimum of 1000 words) online. Paper
will be reviewed, returned with comments. Online consultation per group will be
scheduled after.
c. Week 6 – Submission of Final Concept Paper. Groups are expected to submit their
revised concept paper (online) the following session. The Final Concept Paper will
be used as reference in assessing the final product of the group.
d. Week 11-13 – Presentation and Class Discussion

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INDICATIVE TIMELINE OF TOPICS AND ACTIVITIES

Activities Topics (week) # of hours

1. Lecture and Class Overview of Macroeconomics 3

Discussion

Macroeconomic Goals 4.5

School of Thoughts 1.5

Macroeconomic Policies and Tools 9

2. Class Activity 8 synchronous and asynchronous 12

3. Video Presentation Applied Cases 6

4. 4th Hour Class Consultation 2

Research, Video Development, 4

Report Writing

TOTAL 42

Noted by:

__________________________ _______________________
Chair, Department of Economics Dean, School of Economics

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