Welcome

Angelicans!
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 Introduction to
Economics
Lesson 1
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 ● Often referred to as Science
● Comes from the Greek word
What is
“oikonomus”
management of
Economi
household
cs?
● Finding the reason and solution
to the problem
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 National Level

● Country operates its affairs What is

● Making ends meet according to Economi
the needs of its constituent cs?
● Doing the best for the welfare
of its citizens
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 • Economics is n
ecessary due to ma
need to maximize s n’s
atisfaction and
minimize expenditu
res.
For business – to m
aximize profit at
minimizes cost

It is essential for go
vernment in order to
provide quality sta
ndard of living for it
citizens. s
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 ● To aid man acquire basic
knowledge of
Why should applications of
you study economic concepts in
Economics? our daily life.
● To make people have
basic knowledge of
society so that traditions
and decisions of man
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may focus towards its

 ● To help man understand
that no country can live
Why should alone and that it needs
you study help and support of other
countries as part of its
Economics? global affairs.
● To equip man in finding
solution to day-to-day
problems and apply wise
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decisions concerning
family, community,
national, and international
 Five Stages of Economic
Development
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 1. Hunting and Fishing Stage

2. Pastoral Stage Five

Stages
3. Agricultural Stage

4. Handicraft Stage

5. Industrial Stage
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 ● Early people look for their daily
food to through hunting and
Hunting
fishing.
and
● Family was the basic unit of
Fishing
society
Stage
● They created weapons and
clothing from the animals they
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killed
● “people preferred to stay from
 ● People started to domesticate
animals Pastoral
● They wandered from one place Stage
to another
● Barter as an economic practice
of exchange was practiced
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 ● Men started to grow crops
● Invented tools and raised
Agricultu
awareness on the system of
ral Stage
cultivating land
● They had to stay in one place
● Barter was still evident as the
means of exchange
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 ● People started to specialized in
their work, mass-produced their
crops and started to trade.
● Useful things were formed by
Handicra
hands using basic tools ft Stage
● Started to live in bigger
communities called towns
● People were divided into classes
(rulers, priests, farmers and
artisan)
● Business grew and productions
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prospered
 ● Influenced greatly by Industrial
Revolution in the 18th Century
● The rise of the factory system
● Cities grew wider – bigger Industrial
population – demanding faster Stage
production of goods – to supply
the increasing needs of man
● System of exchange between
countries became more
progressive bringing advanced
system in banking
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 The Development of
Philippine Economics
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 Pre-Colonial

Agriculture Fishing was Proficient in

was the an important ship building-
main industry, balangay,
source of mining was praus,
livelihood common and caracoa and
gold was virey and
among the weaving, tuba
minerals making were
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mined industries too

 Trade with Asians (Pre-Colonial)

Filipinos Farming Trade started

carried out villages in Binondo,
trade by were turned Manila later
means of into expanded
barter commercial southwards to
centers Jolo, Sulu
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 Spanish Occupations

● Encomiend ● Bandala ● Royal Introduction of expanded

a system System Compan new machines public works
● Galleon ● Tobacco y of the accelerated systems, and
Trade monopoly Philippin productions of improved
Mercantilis es agricultural inter-island
m ● Many goods, shipping
ports
were
opened
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for
trading
 American Period

● Economy, ● Observan ● Erection of

commerc ce of factories
e and Free which
trade Trade increased
develope policies employme
d nt
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 Japanese Occupation

● Agricultur ● Production
al lands of rice was
were lessened
neglected while
production
in general
was
stagnant
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 Post-War Economy

Rehabilitati Collaboratio The Bell Free Trade Parity Rights

on and n with Japs Trade Act between was passed
constructio was a big was Phil-Am
n of the problem introduced until 1954
infrastructu followed by
re imposition
of taxes
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 President Manuel A. Roxas (1946-1948)

Parity Rights The

gave Rehabilitation
special Finance
privileges to Corporation
the set aside
Americans P300 million
to use, worth of
exploit, budget to
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develop and start

utilize all of rehabilitation
our natural after war
 President Elpidio R. Quirino (1948-1953)

● Continued Utilize the

observanc Rehabilitation
e of Parity Finance
Rights Corporation
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 President Ramon F. Magsaysay (1953-
1957)

● Social ● Reparatio
Security was n
given Agreeme
emphasis nt was
signed
with
Japan.
Payment
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were in
goods in
spite of
 President Diosdado Macapagal(1961-1965)

● Retail ● Land
trade was Reform
nationaliz Program
ed was
enacted
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 President Ferdinand E. Marcos(1965-1986)

● Party ● Stronger ● The ● Banking ● Economic

Rights Land Philippine liberalizati growth
came to Reform Economic on was financed
an end Program Zone was observed by
and Labor confined created and massive
Code was to rice and implement foreign
enacted corn lands ed debts
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 President Corazon C. Aquino(1986-1992)

● Comprehens
● Privatizati ● Wage ● National ● PCGG was
ive Agrarian
on of Rationalizat Health created to
Reform
Gov’t ion Act Insurance recover ill-
Program was
controlled allowed the Program gotten
implemente
and setting of (PhilHealth wealth
d covering
owned minimum ) covering
all
corporatio wages at all workers
agricultural
n the regional was
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lands
level implement
ed
 President Fidel V. Ramos (1992-1998)

● Military ● Central ● The ● Philippine ● Build-

Bases Bank of the Philippine entry into Operate-
were Philippines Economic World Trade Transfer
converte was Zone Organizatio Law was
d to replaced by Authority n further implement
economi Bangko increased liberalized ed
c zones Sentral ng foreign trade policy
Pilipinas investors
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 President Joseph Estrada (1998-2001)

● Past ● Anti-
administratio dumping
n policies Act was
were implement
adopted ed
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 President Gloria Arroyo

● Reforms ● Promotion ● Increase ● Roll-on, ● BPO or

in the of lending foreign Roll-off outsourcing
energy programs trade with sector
sector to micro, Asia boomed
were small and Pacific
institute medium Economic
d enterprise, Cooperatio
n (APEC)
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member
economies
 President Simeon Aquino (2010-2016)

Private and
● Improved ● Fight
Public Sectors
Tax Partnerships against
Collectio to address corruption
n, Run challenges was one
After Tax facing of the
Evaders education, many
(RATE) infrastructure, agenda of
the
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agriculture,
health, administra
defense and tion
 President Rodrigo Roa Duterte

● Golden ● The ● Improve ● Strengthen ● Continue and

Age of inflation social implement maintain
Infrastruct rate of protection ation of the current
ure the programs, Responsibl macroecono
through country including e mic policies,
“Build, soared the Parenthood including
Build, governme and fiscal,
Build” nt’s Reproducti monetary,
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Condition ve Health and trade

al Cash Law policies
Transfer
 Is Economic Related to
Other Subjects?
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 ● Genetic engineering and
cloning are scientific
innovations that can
Natural boost productivity in
businesses but must be
Science
carefully monitored for
environmental and
human impact.
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 ● Aids man to be familiar
with how to interpret
data, charts, graphs,
Mathematics and compute.
and Statistics
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 Historical Background of
Countries
● Explains the present
economic system.
● Traces economic,
History
political, and cultural
aspects.
● Provides insight into the
current government.
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 Geography Impact on
Country's Resources
● Focus on natural
resources.
● Climate and
Geography
temperature influence
daily life.
● Government laws
influenced by
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topography and
 Economic Influence on
Society Sectors
● Family, school, church,
and media heavily
influenced by economic
Sociology
situations.
● Science aids in
understanding these
effects and adjusting to
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changes.
 Political Science and
Economic Settings
● Political institutions or
systems like democracy,
Political monarchy, communism,
dictatorship, and
Science
republic govern
societies.
● These systems set rules
for an orderly society.
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● Political systems guide

resource allocation and
 • Economics is a
social science that
and why people, m explains how
ay it be as a group
individuals, behave or
the way they do.
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 As a science, economics uses methods composed of scientific approaches to
explain the issues in our economy. These methods are:

1. Observation noting economic phenomena that happened in the past as well as

the present. In this method, economists can evaluate the causes and effects of
economic occurrences in the country.
2. Economic analysis using their logical thinking, economists use facts and
events to come up with economic assumptions. If for instance, government
tax in the country increases, the planners of the government can estimate the
government income.
3. Statistical analysis involves gathering various organized data and factual
information which will used to illustrate the economic situation.
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4. Experiment. The essential method used by economists in describing market

behavior. They interview people to collect and interpret their reactions,
 Microeconomics Macroeconomics
Pertains to the economic Pertains to the economic
behavior of individual or small behavior of the whole or
units like buyers, firms, and bigger units of the economy
the owners of productions like government.
such as land labor, labor, and
capital. These small and Example:
individual units represent • The level of employment for
small units of one whole the fiscal year
economy.
• The total expenditures of
Example: the whole banking industry
• The monthly salary of Mr.
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Dela Cruz
• The weekly profit and
expenses of Banco de Oro
 Different Types of
Economics
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 ● As individuals, normal is the
daily battle with day-to-day
economic challenges like Individua
spending allowances for the
day and making ends meet.
ls
Economics impacts individuals
variedly depending on their
status in life. The rich and the
poor have distinctive ways on
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how they deal with their daily

economic challenges.
 ● Economics is the most evident Househol
in the households. The family ds
makes up the members of the
household who try their best to
find resources to meet their
daily needs.
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 ● The main goal of each industry Business
is to meet the needs and wants
of each individual consumer
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 ● Involves leaders of our country
as implementators of economic
policies and procedures to
maintain balance and order in
the economy.
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 Thank you!❤️
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