Eastern Samar State University

COLLEGE OF BUSINESS MANAGEMENT AND ACCOUNTANCY

Borongan City, Eastern Samar

COURSE SYLLABUS

Course Code: Soc. Sci. 325 Course Title: Basic Economics Semester: Second School Year: 2015-2016
Program: Bachelor of Science in Hotel, Resort & Restaurant Management Department: HRRM
Pre-Requisite//Co-Requisite: None No. of Units: 3 Total No. of Hours: 54
University Vision: University Mission: University Core Values:

A synergistic multi-campus University producing The University shall primarily provide advanced education, higher Excellence
competent, value laden and globally competitive professional and technological instruction in the fields of Agriculture,
graduates who are proactive in promoting the socio- Arts and Sciences, Business and Industry, Computer and Information Integrity
economic prosperity of the country Technology, Education, Engineering, Environmental Sciences,
Fisheries, Forestry, Law and Criminal Justice, Medicine and Allied Accountability
Sciences, and other related fields of studies. It shall intensify its
research, extension and production functions and provide progressive
leadership in its areas of specialization.

College Goals: Program Objectives:

The College of Business Management and This four-year program addresses the needs of the Hotel, Resort and Restaurant industries and
Accountancy shall aim to achieve the following: their sub-sectors. It envisions developing the students competencies in:
1. Acquiring professional skills and competencies in Hotel, Resort and Restaurant
1. To provide common foundation of knowledge and Management for creative and responsive development of human resource.
understanding concerning modern business 2. Demonstrating world-class skills in hospitality industry in a cross-cultural dimension.
through a core program consisting of general 3. Inculcating in the learners value for an efficient, self-reliant, confident, honest, resourceful
education and business courses; and competitive Filipino hotel, resort and restaurant worker.
2. To prepare business graduates for global
competitiveness
3. To conduct researches in the field of business and
diffuse findings through instruction and extension;
4. To inculcate to the students moral, ethical and
spiritual values to make them functional ad law-
abiding members of the society.
Course Description:

In this course, students learn the various economic questions, economic methods, and the market as well as basic economic concepts such as elasticity,
price regulation and consumer choice. General topics include basic market analysis, consumer behavior, theory of the firm, general equilibrium, production and
the firms economic policies, market structures monopolistic competition, monopoly and oligopoly, and welfare economics. It also covers a study of national
economic issues and measures of performance. The focus is on national income accounting and determination. Students are introduced to problems pertaining
to unemployment and inflation, expenditure decisions, aggregate demand management, trade balances, income distribution, fiscal and monetary policies and
the global environment (international trade, globalization of markets, foreign exchange controls, trade restrictions, regional and international trade agreements,
etc.).

Program Outcomes/ Objectives: Course Outcomes:

1. Convey ideas clearly both oral and written in English.
2. Prepare, analyze and evaluate reports, proposals and concept papers.
3. Demonstrate the values of fairness, transparency, accountability, hard
work, honesty, patience, diligence, innovativeness and risk taking
4. Develop the ability to access, retrieve and disseminate information using
IT.
5. Perform quality work.
6. Understand the concepts and principles of good interpersonal relations.
7. Develop a wholesome personality.
8. Conduct environmental scanning.
At the completion of the course, the students are expected to:
LO1: Discuss basic economic principles and processes;
LO2: Describe and evaluate economic policies in terms of their effects
on national development;
LO3: Analyze socio-economic problems that the country is facing based
on economic theories and concepts;
LO4: Explain the socio-economic importance of land reform in uplifting
the lives of the Filipinos; and

LO5: Discuss the vital role of taxation in financing the projects and
programs of the government.
 COURSE LEARNING PLAN
Topics Time LO1 LO2 LO3 LO4 LO5 Teaching and Learning Outcome-Based References
Allotment Activities Assessment(s)
Introduction
What is Economics? Lecture-discussion 1, 3, 6, 10
Methodologies of Term Paper Oral recitation
Economics 1.5 hours /
History of Economics
Contributors in the
Development of
Economic Thought

The Economic System

The Three Basic Lecture-discussion
Economic Problems with active Quiz 1, 2, 3, 6
Goods and Services participation from Assignments
The Four Economic 3 hours / / students Graded recitation
Systems
The Three ISMS

Demand and Supply

Demand Schedule 1, 2, 3, 6, 8
Demand Curve 3 hours / / Class discussion Construction of
Law of Demand with presentation of tables and
Supply Schedule graphs and tables graphs
Supply Curve Lecture Seat work
Law of Supply Reading Assignment
Market Equilibrium assignment
Concept of Elasticity
What is Elasticity?
Types of Elasticity 4.5 hours / / / Lecture-discussion Oral recitation 1, 9
Price Elasticity of Interpretation of graphs Practice problems
Demand and curves (individual seat
Price Elasticity of work
Supply Quiz
Other Measurements of
Elasticity

PRELIMINARY EXAMINATION
Consumer behavior
Factors affecting
Consumer Behavior PowerPoint presentation Oral recitation 1, 3, 6
The Concept of Choice 6 hours / / / Lecture-discussion Interpretation of
and Utility Construction of graphs graphs and tables
Total Utility and and tables
Marginal Utility
The Law of Diminishing
Marginal Utility
Consumers
Equilibrium
The Indifference Curve
and Budget Constraints

Concept of Production,
Cost and Profit
Inputs and Outputs of Lecture discussion Construction of 1, 2, 9
Production 6 hours / / / tables and graphs
Production in the Short Quiz
and Long Run
The Production
Function
Total Product, Average
Product and Marginal
Product
 The Cost of Production
Implicit and Explicit
Costs
The Various measures
of Cost
Economic Profit vs.
Accounting Profit

MID-TERM EXAMINATION

The Market Structure

Perfect Market Lecture-discussion Oral Recitation 1,7, 9, 10
Imperfect Market 4.5 hours / / Informal Class debate Research Work
Monopoly (Library)
Oligopoly
Monopolistic
Competition

Measuring the Economy

Gross Domestic 3 hours / / Lecture-discussion Oral recitation
Product (GDP) Discussion groups 1, 4
Gross National Product
(GNP)
Measures of Income
and Output

Business Cycle, Lecture-discussion Oral recitation 1, 9

Unemployment and 4.5 hours / / / Discussion groups Quiz
Inflation Use of diagrams, graphs Case Studies
Business Cycle and charts
Unemployment and its
Types
Inflation
Cause of Inflation
Hyperinflation
 PRE-FINAL EXAMINATION

Monetary and Fiscal Policy

The Philippine 4.5 hours / / / Lecture-discussion Differentiate real 1, 9
Monetary Policy Discussion groups money from fake
The Bangko Sentral Presentation of ones
ng Pilipinas Philippine Money (Bills Oral Recitation
Objectives and and Coins) Reading
Functions of the Assignment
BSP Long Quiz
Monetary Tools of
the BSP
Fiscal Policy
Types of Fiscal
Policy
The Components of
Fiscal policy
Major Functions

Land Reform and Taxation 3 hours

Land reform in the / / / Lecture-discussion Oral Recitation 1, 9
Philippines Discussion groups Reading
Land Reform vs. Assignment
Agrarian Reform
Procedure of Land
Acquisition
Taxation

Globalization and the 4.5 hours / / Lecture-discussion Oral Recitation 9, 10

emergence of BRICS
Globalization of
markets
International Trade &
Agreements
Trade Restrictions
BRICS
FINAL EXAMINATION
References:
1. Gabay, B.K., Remotin Jr., R.M., & Uy, E.A. (2007). Economics: Its concepts and principles. Manila: Rex Bookstore.
2. Mankiw, N.G. (2007). Principles of microeconomics. Thomson South-Western
3. Klein, G., & Bauman, Y. (2010). The cartoon introduction to economics: Volume One: Microeconomics. New York: Hill & Wang.
4. Mandel, M. (2011). Economics: The basics. (2nd Ed). New York: McGraw-Hill/Irwin.
5. Marcelino, R.B.N., et.al. (2010). Principles of economics with taxation and agrarian reform law. Mandaluyong: National Bookstore.
6. Pagoso, C., Dinio, R., & Villasis, G. (2006). Introductory to microeconomics. Manila: Rex Bookstore.
7. Parkin, P. & Bade, R. (2003). Microeconomics. (5th Ed). Toronto: Pearson Education Canada, Inc.
8. Sowell, T. (2011). Basic economics: A common sense guide to the economy. (4th Ed). New York: Basic Books.
9. Yahoo: Wikipedia, the Free Encyclopedia
10. Google: http://www.economicsonline.co.uk

Class Policies: Grading System:

Class Attendance There will be 4 rating periods: Preliminary, Mid-Term, Pre-Finals

and Finals.
Students shall faithfully observe prompt and regular attendance in all class
sessions.
Time lost by late enrollment is considered lost by absence. 1. The grades for each rating period shall be computed as follows:
A student, who for unavoidable cause(s), absents himself/herself from class
must obtain an excuse slip from the College Dean to be presented to the 60% - Class Standing
instructor concerned not later than the second class session following the 40% - Major Examination
students return. Grade for the corresponding rating period
In case of absence due to illness, a medical certificate must be obtained
from the attending physician or university physician and must be presented 2. Midterm Grade = (Preliminary + Midterm)/2
to the instructor not later than the second class session following the
students return. 3. Final Grade = (Pre-Finals + Finals)/2
An excuse for an absence is for time missed only.
Regardless of scholastic standing, a student is automatically dropped from 4. Average Grade = (Midterm Grade + Final Grade)/2
the subject and given a grade of 5.0 when he/she has been absent for more
than 20% of the required number of hours.
If majority of the absence is excused for valid reasons, and the student
wishes to continue his/her studies, the instructor may give him/her a special .
requirement duly approved by the program head and the College Dean,
otherwise he/she is merely dropped from the rolls by putting the mark WP
(withdrawn with permission) in the Report of Grades. (Source: Student
Handbook)
Conduct of Major Examinations/Removal

Examination/Completion/Special Examination
Major examinations will be conducted as scheduled in the Academic
Calendar of the University.
As stipulated in the Student Handbook, conditional and incomplete grades
obtained during the first semester must be removed/complied within one
month after the submission of the Report of Grades. On the other hand,
conditional and incomplete grades obtained during the second semester,
must be removed/complied on the last working day of June of the same
year.
Students who are to take removal examination or have incomplete grades
will be notified through a text message or by posting an announcement in
the CAS Bulletin Board.
A special examination may be given only for meritorious cases like
illness/hospitalization supported by a medical certificate from the attending
physician or University Physician or fortuitous events like earthquake,
typhoons, fire or death in the immediate family. A written request has to be
submitted and approved by the Dean before the Instructor concerned gives
such special examination. (Source: Student Handbook)

Course Requirements

Assignments, projects and other course requirements shall be submitted on

set deadline. Late submission of said requirements would mean a
deduction ( 5 points for every day beyond the set deadline) in the students
grade for that requirement only.
Students are obliged to take quizzes and major examinations on the
specified schedule.

Class Discipline

Students are expected to arrive for class on time and to remain in class
until the end of the class session.
All students are expected to behave with academic honesty. Any form of
cheating will be punished accordingly.
 Students should participate actively or get involved in group dynamics and
other group assignments.
Gadgets like cellular phones, iPad, tablets, laptop/netbook computers, etc.
must be turned off during the entire class session and during
examinations/quizzes.
Eating during the class is prohibited.
Students must wear the complete prescribed uniform.

Revisions of the Syllabus

This syllabus may be revised as a result of presentation to the students, and in the
exigency of socio-political events and regulatory bodies.

Prepared by: Checked by: Approved:

MARIA KRISTINA A. LORENZO PROF. EVELYN S. BAQUILOD DR. ALIROSE A. LALOSA

Instructor I Program Head, HRRM Dean, College of Bus. Mgt. & Accountancy
Date: Date: Date: