ATENEO DE MANILA UNIVERSITY

Loyola Schools

COURSE SYLLABUS

Course Number EC 102 Title Basic Economics, Agrarian Reform & Taxation
Department/Program Economics School Social Sciences
Semester/SY Summer/2013-2014 Instructor Neil Adrian S. Cabiles, PhD

A. Course Description

EC 102 deals with the behavior and performance of the economy as a whole as well as the roles
and functions of the market, the state, households and firms. It will also discuss the relations or
interactions of the said agents. The course shall use basic macro and microeconomic concepts
and methodologies in its discussions. At the macro level, the main topics will be the national
income (output), employment, agrarian reform, government fiscal policy, general price level,
trade and economic growth and development. At the micro level, the main focus will be on
supply and demand, elasticity and market structures and inefficiency.

B. Course Objective

1. To introduce the students to key concepts in economics;

2. To familiarize the students with economic analyses that integrates economic theories
and concepts with facts about the Philippine economy; and
3. To familiarize the students with pressing economic issues in the Philippines and the
rest of the world.

C. Course Outline

I. Introduction, Basic Concepts and Historical Overview

1.1 Long Live the Queen: Economics a Field of Study
1.2 The “Holy Economic Trinity”: Basic Economic Problems
1.3 Who’s Got the Power?: Markets and Government in a Modern Economy

II. Basic Microeconomics

2.1 Economics’ Sweethearts: Demand and Supply
2.2 A Love Story in Economics (Part1): Equilibrium in the Competitive Market
2.3 A Love Story in Economics (Part2): Applications of Demand and Supply Analysis
2.4 He Said, She Said: Elasticity of Demand and Supply
2.5 Meet the Parents (Part1): Introduction to Consumer Behavior
2.6 Meet the Parents (Part2): Introduction to Firm Behavior
2.7 The Break up: Imperfect Market Structures

III. Basic Macroeconomics

3.1 Nosebleed at the Business Section: Overview of Macroeconomics
3.2 Saan, Kailan at Magkano?: National Output and Income
3.3 Paris Hilton vs. Warren Buffet: Consumption and Investment
3.4 Economic Lavapalooza: Fundamentals of Aggregate Demand and Supply

IV. Introduction to Fiscal Policy

4.1 Playing Big Brother: Fiscal Policy
 4.2 April Fools: Government Taxation and Expenditure
4.3 Maxing Out the Credit Card: Government Deficit and Debt

V. Introduction to Monetary Policy

5.1 La Perra and Banco-rupto: Money and Banking
5.2 To You Do We Fly, Oh Poor Banks in Need: Central Banking and Monetary Policy

VI. Introduction to International Economics

6.1 Love thy Neighbor: International Trade and Macroeconomy
6.2 What’s your Specialty?: Comparative Advantage and Protectionism
6.3 Is It Weak or Strong? Up or Down?: International Trade and Exchange Rates

VII. Introduction to Development Economics

7.1 Satisfaction not so Guaranteed: Strategies to Economic Development
7.2 The Never Ending Stories: Contemporary Economic Issues

D. Reference Texts

Main text: Samuelson, Paul A. and William D. Nordhaus. Economics. New York: Mc Graw-Hill
Book Company, 2001 (17th ed.)

Supplementary text: Mankiw, Gergory (2004). Principles of Economics. Ohio: Thomson South-
Western Company.

E. Lecture Notes

Lectures Notes to be discussed in class maybe accessed through the following homepage:

https://sites.google.com/site/nascabiles/

F. Course Requirements

1st Exam 30%

2nd Exam 30%
Quizzes 30%
Class Participation 10%

G. Grading System

A Excellent 92-100
B+ Very Good 83-91
B Good 74-82
C+ Satisfactory 65-73
C Fair 56-64
D Passing 47-55
F Failing Below 46
H. Class Policies

1. Attendance in the classes will be checked. A student late for 15 minutes after the
second bell shall be marked absent. The rules on the number of allowable absences
(breaching of which will lead to a grade of W) will apply.
2. Absence during exams and/or quizzes will be reflected as a grade of F.
3. The student is responsible for all forgone lectures/discussions/information, that result
from his/her tardiness or absence from class.
4. Requests for make-up exams and/or quizzes will not be accommodated unless if:
a. The student is unable to fulfill such requirement/s at the set date because of
official university business.
b. The student is unable to fulfill such requirement/s at the set date because of grave
reason/s. (Proof of which must be presented.)
5. Requests for make-up work to improve class standing will not be entertained. All
grades will be based on the Course Requirements given in Section F.

I. Consultation Details

Consultation hours will be from Monday to Thursday and from 1:30 to 2:30PM at the
Economics Department (Rm. 409, Ricardo & Dr. Rosita Leong Hall, School of Social
Sciences). Students who wish to consult but have conflicts in their schedules with the
hours set, may ask for an appointment. Contact details for appointments (as well as for
other matters): 426-6001 loc. 5220-5222, 426-5661, ncabiles@ateneo.edu.