BASIC EDUCATION DEPARTMENT SENIOR HIGH SCHOOL
SY 2019-2020 COURSE DESCRIPTION
IN
APPLIED ECONOMICS
SUBJECT DESCRIPTION
This course deals with the basic principles of applied economics, and its application to contemporary economic issues facing the Filipino entrepreneur such as prices of commodities, minimum wage, rent, and taxes. It covers an analysis of industries for identification of potential business opportunities. The main output of the course is the preparation of a socioeconomic impact study of a business venture.
FIRST QUARTER
Introduction to Economics
• Revisiting economics as a Social Science Economics as an Applied Science
• Economic problem
• Economic choices
• Productive resources
• Goods and services
• Economic theory
• Goal of economic theory
• Marginal analysis
• Market participants Opportunity Cost and Choice
• Opportunity Cost
• Choose Among Alternatives
• The Opportunity Cost of College Economic Questions and Economic Systems
• The 3 Economic Questions
• The Economic System
• Adam Smith and the Invisible Hand
• Production Possibility Frontier (PPF) and its importance
• Unemployed Resources and Inefficiency
The Philippine Socioeconomic Development in the 21st Century
• The Socio-economic Development Program of the Philippines
• The Philippine Agenda 21
• Meaning of Sustainable Development
• Decision-Making: Major Group Involvement
The Philippine Socioeconomic Development in the 21st Century
• Seven Dimension in Development
• The Philippine Agenda 21 Visions The Demand Curve
• Law of Demand
• Demand Schedule and Demand Curve Elasticity of Demand
• Computing Elasticity of Demand
• Determinants of Demand Elasticity Changes in Demand
• Changes That Shift the Demand Curve
• The Role of Time in Demand The Supply Curve
• Law of Supply
• Elasticity of Supply Shifts of the Supply Curve
• Determinants of Supply
• A Movement Along a Supply Curve Versus a Shift of a Supply Price, Quantity, and Market Equilibrium
• Market Equilibrium
• Market Exchange
Market Efficiency and the Gains from Exchange
• Competition and Efficiency
• Disequilibrium
• Consumer Surplus
Comparative Advantage and Specialization
• Comparative Advantage
• Specialization Wage Determination
• Why Wages Differ?
• The Minimum Wage
Foreign Trade, Foreign Aid, and Economic Development
• Foreign Trade and Migration
• Foreign Aid
Foreign Exchange Rates
• The Market for Foreign Exchange
• Who Buys Foreign Exchange?
• Exchange Rate Systems Public Goods and Taxation
• Public Goods
• Tax Principles
• Other Revenue Issues
• TRAIN Law
Contemporary Economic Issues Facing the Filipino Entrepreneur
• Three Challenges for the Filipino Entrepreneurs
• Current Problems of Filipino Entrepreneurs
• Unemployment Status in the Philippines Second Quarter
Perfect Competition and Monopoly
• Perfect Competition
• Monopoly
• Monopoly and Efficiency
Monopolistic Competition and Oligopoly
• Monopolistic Competition
• Oligopoly
Enhancing Economic Utility
• Utility Means Satisfaction
• Utility as a Marketing Tool
Understanding Consumers and Competitors’ Behavior
• Consumer Decision Making
• Responding to Competition Benefits of Trade
• Comparative Advantage
• Other Reasons for Trade
• Philippine Imports and Exports
Trade Restrictions and Free-Trade Agreements
• Trade Restrictions
• Free-Trade Agreements Sole Proprietorship and Partnership
• Sole Proprietorship
• Partnerships
Corporations and Other Organizations
• Incorporating
• Advantages and Disadvantages
• Other Organizations
Environment Analysis and Importance of Business Environment
• Objectives of Environmental Analysis
• Process of Environmental Analysis
• Techniques of Business Environment Analysis
• The SWOT Techniques
• Internal and External Factors of SWOT
Environment Analysis and Importance of Business Environment
• Techniques of Business Environment Analysis
• The SWOT Techniques
• Internal and External Factors of SWOT Economics of Public Choice
• Representative Democracy
• Bureaus Versus Firms Poverty
• Poverty and Unemployment in the Philippines
• Unplanned Results of Conditional Cash Transfer The Evolution of Fiscal Policy
• Fiscal Policy and Potential Output
• The US Fiscal Policy and the Great Depression Living Standards and Labor Productivity Growth
• Standard of Living
• Philippine Labor Productivity Unemployment
• Types of Unemployment
• The Cost and Measure of Unemployment
Socioeconomic Impact of Business to Consumers, Suppliers, and Households
• Effects of Business on Consumers
• Selecting the Right Suppliers
• Factors Affecting Household Spending Globalization and Developing Country Business
• What is Globalization?
• Positive and Negative Effects of Globalization Reference:
K to 12 DepEd Curriculum Guide
