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Econ 101 - Session 1
Econ 101 - Session 1
Econ 101 - Session 1
Hugo
Course Description
The objective of this course is to provide a basic
comprehension of the complexities of economics in the
international, national, regional and household settings.
The subject covers the basic economic principles in
efficiently analyzing ones own economic problems and
follow intelligently the economic issues of the day.
Course Methodology
Assigned
Course Outline
Session 1
Introduction to course, Administrative requirements, etc.
Sessions 2 to 5
Basic Economic Concepts: Defining Economics and its Nuances
The Market Mechanism: Demand and Supply; and, Market
Equilibrium
Sessions 6 to 8
A Framework of How the Economy Works;
Macroeconomic Instruments and Objectives;
National Output, Unemployment and Inflation
Aggregate Supply and Demand
Sessions 9 to 13
Monetary Policy
Fiscal Policy
To be an informed citizen
To
learn
a
way
of
thinking
3 Fundamental Concepts
Opportunity Cost
1.
3 Fundamental
Concepts
2.
Marginalism (extra, additional)
3 Fundamental Concepts
Opportunity Cost
1.
1.
3 Fundamental Concepts
s
1.
2.
3.
Opportunity Cost
Marginal
Efficient Markets
- A market in which profit opportunities are eliminated almost
instantaneously
To understand society
Past and present economic decisions
Current state of physical environment
Buildings, roads
To be an informed citizen
Government budget and support for PPP
New Centennial Water Source Kaliwa Dam Project
Implementing agency: MWSS
The NCWS Project aims to increase Metro Manilas raw water supply, (i) to meet future potable
water demand and (ii) as a redundant water source thereby reducing the dependence on the
Angat Dam Reservoir. In the short and medium-run, the main purpose of the Project is to ensure
water security.
To be an informed citizen
Operation & Maintenance of LRT Line 2
Implementing Agency: DOTC
The LRT Line 2 Operation and Maintenance Project will infuse private sector
efficiencies into the operations of the LRT Line 2 to provide better service levels
to the riding public.
To be an informed citizen
Why do the government fund for these instead of
other activities?
Is this a good idea?
Production
Prices
Income
Employment
Microeconomics
Production/output
in individual
industries and
businesses
How much steel
How much office
space
How many cars
Prices of
individual goods
and services
Price of medical
care
Price of gasoline
Food prices
Apartment rents
Distribution of
income and wealth
Wages in the auto
industry
Minimum wage
Executive salaries
Poverty
Employment by
individual
businesses and
industries
Jobs in the steel
industry
Number of
employees in a
firm
Number of
accountants
Aggregate price
level
Consumer prices
Producer prices
Rate of inflation
National income
Total wages and
salaries
Total corporate
profits
Employment and
unemployment in
the economy
Total number of
jobs
Unemployment
rate
Macroeconomics National
production/output
Total industrial
output
Gross domestic
product
Growth of output