BASIC ECONOMICS Revised: 02/16/2023

LESSON TIMETABLE

MODULE 1.2: NATURE AND SCOPE OF ECONOMICS

COURSE/SUBJECT : BASIC ECONOMICS

DURATION : THREE (3±) Hours Lecture: ________ laboratory

DURATION CONTENT/TOPIC STRATEG REFRENC EVALUATIO
Y/ E/ TOOLS N OUTPUT
ACTIVITY

30± mins. Introduction: Lecture Laptop

• Opening Prayer Discussion Module
(Optional) Power
• Introducing the Point
instructor Presentation
•
Leveling/Motiva
tio n
• Articulating the
desired learning
outcomes for the
session

3± hours Presentation Lecture Laptop Oral

• Definitions of Discussion Module Recitation
Economics Power
• What is Point
Economics? Question Presentation
• What is a and Answer
resource?
• Walstad And
Bingham/ Mcconnel
And Brue
• Samuelson And
Nordhaus
• Collin
• Parkin and Bade

30 min Application Recitation Laptop 15-item

• Reinforcement Module Objective
• Recap of Learning lecture Power Type of
insights Point Written Test
• Assessment Presentation
• Closing Prayer
(Optional)

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 BASIC ECONOMICS Revised: 02/16/2023
SESSION PLAN

PROGRAM/YEAR LEVEL : ABM 12 A and B

MODULE : Nature and Scope of Economics

SUB-MODULE : Definitions of Economics

COURSE/SUBJECT : BASIC ECONOMICS

DURATION : THREE (3±) Hours Lecture; ________ laboratory

LEARNING OUTCOMES (LOs):

At the end of the lesson, the students will

Cognitive:

➢ appreciate the importance of taxation as means of supporting the government in

sustaining its programs and projects as opposed to common notion on taxation as
a burden.
➢ realize the necessity for land reform program as means of state's pursuit of social
justice.
➢ instill in the students’ human values and cultural refinement through the humanities
and social sciences.
➢ understand other political and governmental systems, their ideological basis and
compare these with the Philippine system;
➢ understand the basis of the agrarian laws in the economic perspective and
evaluate the significance of land reform to the landless poor.

Psychomotor:

➢ have critical studies and discussions of the basic economic principles and
processes i.e. resources, market, money etc.

➢ describe and evaluate selected economic policies and issues in relation to how
these affect the Filipino nation and the lives of the people.

Affective:

➢ inculcate high ethical standards in the students through its integration in the
learning activities.
➢ identify and internalize citizen's economic rights and responsibilities to develop
their sense of nationalism and love of country.

.
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 BASIC ECONOMICS Revised: 02/16/2023
LEARNING AIDS:
• Laptop / Computer
• Module
• Powerpoint Presentation

REFERENCES:
• Carnaje, Gideon P. Applied Economics, 2016. Philippines: Vibal Groups,
Inc.
• Altares, Priscila S., Antonio Rolando I CoPo, Tibardi A. Gabuyo, et al..
Mathematical Amalysis for Business and Economics. 2007. Philippines:
Rex Book Store.
• Bello, Amelia L., et al. Basic Economics. 2009. Quezon City: C & E
Publishing. • Hyman, David N. Basic Economics: Anotated Instructor’s
Edition, 1994. USA: Richard D. Irwin, Inc.
• Sicat, Gerardo P. Basic Economics Vol 2. Macroeconomics, 2003. Pasig
City: Anvil Publishing, Inc.
• Tucker, Irvin B. Economics for Today, 2008. USA: Thomson South-
Western
•
Basic Economics

III. BASIC STATISTICAL ANALYSIS IN ECONOMICS

STATISTICAL ANALYSIS IN ECONOMICS

➢ “Statistics is the language of Science” -Karl Pearson

➢ The field of statistics is the science of learning from data.
➢ Statistical knowledge helps you use the proper methods to collect the data,
employ the correct analyses, and effectively present the results.
➢ Statistics is a crucial process behind how we make discoveries in science,
make decisions based on data, and make predictions.
➢ Statistics allows you to understand a subject much more deeply. (Source:
statisticsbyjim.com)
➢ In this module we will recall the basic terms on statistics, the importance of
statistics in the modern society especially in research.
➢ The lessons will only cover the essential part of statistics which are
commonly used in conducting a research study.

DATA

➢ Data consist of information coming from observations, counts,

measurements, or responses.
➢ Sometimes data are presented graphically.
➢ You can observe it frequently it business presentation, research papers,
news reports about polls, etc.

STATISTICS

➢ Statistics is the science of collecting, organizing, analyzing and interpreting

data in order to make decisions.
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Variables

➢ are the characteristics or attributes that you are observing, measuring and
recording data for- some examples include height, weight, eye colour, dog
breed, climate, electrical conductivity, customer service satisfaction and
class attendance, just to name a few.
➢ As the word suggests, the value of a variable varies from one subject (i.e.
person, place or thing) to another.
➢ Examples of variables include faculty ranks, educational attainment, salary,
and sex.
➢ LEVELS OF DATA MEASUREMENT
Data can be classified into four levels of measurement. They are (from
lowest to highest level): Nominal scale level. Ordinal scale level. Interval
scale level. Ratio scale level.

A categorical data is data which is grouped into categories, such as data for a
'gender' or 'smoking status' variable while continuous data is data which is
measured on a continuous numerical scale and which can take on a large number
of possible values, such as data for a ‘weight’ or ‘distance’ variable.

Discrete data measures counts or numbers of events, such as data for a ‘class
attendance’ variable, and while it is numerical data it is not measured on a
continuous numerical scale- so it doesn’t fit neatly into either of the classifications
above. It is usually treated as continuous data, but if there are only a small
number of values (such as for a ‘number of children under three in family’
variable) you might choose to treat them as categories instead.

One final thing to note is that any continuous data can always be turned into
categorical data, by simply creating categories out of it.

Continuous data for an ‘age’ variable could be turned into categorical data by
creating categories of 11-20 years old, 21-30 years old, 31-40 years old, etc., for
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example, and this can be useful if you want to analyze your continuous data using
statistics and statistical tests designed for categorical data.

You can’t go the other way around though and turn categorical data into
continuous data, so if you have the choice then for maximum flexibility it is
preferable to collect continuous data.

Prepared by: Reviewed by: Approved by:

Jeric P. David, LPT Reynald Suarez, LPT Michel B. Diwa, MBA

Instructor OIC-Principal, SHS OIC for Academic Affairs

BASIC ECONOMICS Revised: 02/16/2023