POINTERS TO REVIEW  Collective effort that cannot be done

ECONOMIC SYSTEMS individually.

2. LEGAL
ADMINISTRATION CAN BE UNDERSTOOD  Law in action
AS: (APIF)  Regulation
1. Activity - as old as society. Originated  King’s largesse
during Wilson’s essay 1887. It can be either  Theft
internal or external. 3. MANAGERIAL
2. Process – occurs in both public and  Executive function in the
personal organizations. government.
3. Institution – refers to the person who run  Management specialty
the government during their prescribed  Art, not science/vice versa
terms of office. 4. OCCUPATIONAL
4. Function – running the government by  Occupational Category
the executive authorities through the  Essay contest
enforcement of laws and implementation of  Idealism in action
policies.  Academic field
 Profession
TWO TYPES OF ADMINISTRATION
(a) PUBLIC TWO VIEWS OF ADMINISTRATION
(b) PERSONAL 1. INTEGRAL – PA composes all types of
operation undertaken by people from the
PA ACCORDING TO VARIOUS SCHOLARS lowest to the highest.
1. Woodrow Wilson – government in action. 2. MANAGERIAL – focuses primarily on
2. L.D White – all the operations having for planning, organizing, controlling, directing,
their purpose the fulfillment or and coordinating of government operations.
enforcement of public policy.
3. Frank Marini – occupational sector, POSDCORB (Luther Gulick, 1937)
enterprises and activities having to do with a. Planning
formulation and implementation of policy. b. Organizing
4. Ferrel Heady – political setting c. Staffing
5. Percy McQueen – the operation of d. Directing
government whether local or central. e. Coordinating
6. Luther Gullick – science of administration f. Reporting
which has to do with the government; g. Budgeting
especially on the executive branch.
PA MODELS
4 CATEGORIES OF PA 1. OLD PUBLIC ADMINISTRATION
1. POLITICAL - 2. NEW PUBLIC MANAGEMENT
 What government does. 3. NEW PUBLIC GOVERNANCE
 Direct and indirect.
 A phase in the public policy cycle.
 Implementing the public interest. ECONOMIC SYSTEMS

Economics – social science concerned with
description and analysis of the production,
distribution and consumption of goods and
services.
FUNDAMENTAL CONCEPTS
1. Income – the amount of wealth
accumulated plus savings and the value of
the personal consumption.
2. Demand – refers to a customer’s desire
to purchase goods and services willing to
pay a specific amount.
3. Supply – the total amount of a specific
good or service available to consumers.
LAW OF SUPPLY AND DEMAND
The law of demand holds that the demand
level for a product or a resource will decline
as its price rises and rise as the price drops.
The law of supply says higher prices boost
supply of economic good while lower ones
tend to diminish it.
NOTE: The major goal of Least Developed
Countries (LDC) is economic growth and
economic development.
Economic Growth – increase in the
production of economic goods and services
compared to one period to another.
PHASES OF ECONOMIC GROWTH
1. Expansion – employment, income,
industrial production, sales, and GDP all
increase.
2. Peak – when economic expansion hits
ceiling.
3. Contraction – element of expansion
decrease.
4. Trough – economic contraction hits nadir.
Economic development – economic growth
accompanied by changes in output
distribution and economic structure.
THE ECONOMIC SYSTEM
1. Primitivism
2. Feudalism
3. Capitalism
4. Socialism
5. Communism
Laissez – Faire – opposes any government
intervention in business affairs; free-market
Market – theory – using the forces of supply
and demand to determine the appropriate
prices and quantities for most goods and
services in the economy.
Command Economy – central government
dictates the level of production of goods
and controls their distribution and prices.
Mixed Economic System – capitalism and
socialism.
CLASSIFICATION OF DEVELOPMENT
1. Developing
2. Underdeveloped
3. Less Developed Countries