Page 1 of 9

THE FISHER VALLEY COLLEGE

A Christ-Centered Institution
Taguig City


Course Syllabus
ECONOMICS WITH LAND REFORM AND TAXATION
3 Units












COURSE DESCRIPTION:

This course covers a comprehensive study of economics and the economics of land reform and
taxation. Topics include important concepts in economics, circular flow of economic activities,
demand and supply, theory of production, theory of cost and profit, different economic systems,
national income accounting, monetary policy, international trade, cooperatives, globalization,
and measuring and forecasting demand. The last part of the course deals with the
Comprehensive Agrarian Reform Program (CARP) and principles of taxation. Current events
will be dealt with in every session.

COURSE OBJECTIVES:

At the end of the semester, the student should be able to:

1. Appreciate the fundamental concepts of economics, and its application not only to a broader
treatment, but also to personal exploits as well, performed task based on the fundamentals
of economics and have related the basic economics concepts in view of the current economic
problems;
2. Demonstrate how a market is driven by individual decision;
3. Utilize appropriate economic concepts and principles in evaluating economic problems,
issues and other related economic concerns; and
4. Operate different equations in economics and graph various equations.

COURSE OUTLINE:

One (1) semester is equivalent to eighteen (18) weeks, or its equivalent of normally six (6)
school days a week, or one hundred (100) days (CHED Memorandum Order No. 40, Series of
2008).

1
ST
WEEK INTRODUCTION
Getting to Know Each Other
Course Orientation and Discussion of Syllabus
CLASS SCHEDULE: EMAIL ADDRESS: tfvcdbaa@gmail.com
CLASS WEBSITE: www.tfvc2014.weebly.com
BH301 Wednesday 7:00-10:00
BM207 Wednesday 10:00-1:00 A204 Friday 3:00-6:00
BS302 Thursday 7:00-10:00 BC302 Saturday 4:00-7:00

COURSE INSTRUCTOR: Prof. Marlon B. Raquel TELEPHONE NUMBER: (02) 394-6695

Page 2 of 9

2
ND
WEEK ECONOMICS: AN INTRODUCTION
Basic Terms in Economics
Economic Resources
Types of Economic Systems
The Economizing Habit and the Tools of Economics
National Development Goals

THE CIRCULAR FLOW OF ECONOMIC ACTIVITIES
Economic Model of Production
Economic Model of Income and Consumption
The Circular Flows of Physical Goods and Money Income
Inflows and Outflows

3
RD
WEEK DEMAND AND SUPPLY
The Market
The Law of Demand
Shifts in Demand Curve
Supply
Shifts in Supply Curve
Market Equilibrium
Shifts in Demand and Supply
Elasticity of Demand and Supply

THEORY OF PRODUCTION
Production Function
The Law of Diminishing Returns
Production Isoquant
The Isocost Line
The Least-Cost Combination
Returns to Scale

4
TH
WEEK THE THEORY OF COST AND PROFIT
Cost Concepts
Imputed and Opportunity Costs
Fixed and Variable Costs
Marginal and Average Cost
Total and Marginal Cost
The Shutdown Price

5
TH
WEEK PRELIMINARY EXAMINATION

6
TH
WEEK PURE COMPETITION
Pure and Perfect Competition
A Note on Profits
Profit Maximizing Output
Loss Minimizing Case
The Breakeven Price
The Shutdown Price
Long-Run Adjustments
An Evaluation of a Competitive Market
Page 3 of 9


7
TH
WEEK MONOPOLY
The PLDT Story
Short-run Equilibrium
Profit Maximization: Total Curve
The Long Run
Price Discrimination
The Welfare Effects of Pure Competition
Monopolies in Philippine Setting

IMPERFECT COMPETITION
Monopolistic Competition
Short-run Equilibrium
Adjustments: Open Entry
Welfare Effects of Monopolistic Competition
Oligopoly
Collusion vs. Independent Action
The Centralized Carte
The Kinked Demand Curve
The Profitability of Oligopolies
The Welfare Effects of Oligopoly

8
TH
WEEK NATIONAL INCOME ACCOUNTING
GNP Accounting: Meaning, Purpose, and Limitations
GNP Accounting: Expenditure Approach
GNP Accounting: Income Approach
Factor Contribution by Sector
Gross domestic product vs. gross national product
Current vs. Real GNP

9
TH
WEEK MONEY AND MONETARY POLICY
Functions of Money
Money Supply
Banks and Money Supply
Functions of
Bangko Sentral ng Pilipinas
Monetary Policies

INTERNATIONAL TRADE
The Need for Trade
Evolution of the Market Economy
Is There a World Economy?
Mercantilism
Trade Practices and Policies
Balance of Payments
Some of Our Trade Problems

10
TH
WEEK MIDTERM EXAMINATION


Page 4 of 9

11
TH
WEEK GLOBALIZATION
Philippines 2000
What is APEC?
Peoples Assembly
Labor
Women
Food Security
Features of Globalization Present in the Philippines
The Crisis of Globalization

12
TH
WEEK COOPERATIVES
History of Cooperatives
The Cooperative Development Authority
Cooperative Principle
Types of Cooperatives
Kinds of Cooperatives
General Steps in Forming a Cooperative

13
TH
WEEK MEASURING AND FORECASTING DEMAND
Need for a Forecast
Defining the Market
Measuring Current Market Demand
Forecasting Future Demand
Forecasting Models
Qualitative Techniques
Choosing the Appropriate Forecasting Technique

14
TH
WEEK PRE-FINAL EXAMINATION

15
TH
WEEK THE COMPREHENSIVE AGRARIAN REFORM PROGRAM
Land Reform Before 1972
Coverage of CARP
Creation of Support Services
Land Distribution
Funding the Agrarian Reform Law

16
TH
WEEK TAXATION PART 1
Fiscal Policy
Sources and Uses of Public Funds
Taxation: A Tool
Principles of Taxation
Burden of Taxation
Income Distribution
The Uses of Fiscal Policy

17
TH
WEEK TAXATION PART 2
Definition of: Income, Income Tax, Gross Income, and Taxable Income
Personal and Additional Exemptions
Computation of Individual Income Tax
Filing of Returns and Payment
Page 5 of 9


18
TH
WEEK FINAL EXAMINATION


COURSE REQUIREMENTS:


Note: Submissions of academic papers and assignments beyond the deadlines
will not be entertained/accepted/approved!


Major Exams Four (4) major exams are usually given in a semester prelim, midterm, pre-
final and final exams. However, in this class no prelim and pre-final tests will be given; only
midterm and final exams will be administered to you. There are other requirements you need to
submit in lieu of the prelim and pre-final exams which will be discussed below.

Read the instructions carefully and follow them. A student must be able to understand,
distinguish, and synthesize the ideas studied in class. All answers must be written in a direct,
comprehensive, and concise manner. In case of essays, long paragraphs, flowery words,
convoluted sentences, and flattery will not impress the instructor. Remember that the exam is
YOUR exam; it is meant to test your knowledge, not the instructors.

No prelim exam will be given. In lieu of this, you are required to submit THREE (3) CRITIQUE
ESSAYS on three articles dealing with Philippine businesses and overall economy. Each essay
must contain a minimum of 500 words. Look for essays (opinions, news, editorials) in different
news sites, print them out, submit them to me for approval, and write your critical analysis on
the articles.

There are three important components of your article review:
1. Summary of the news article one paragraph
2. Analysis on the points raised in the articles
3. Conclusion one paragraph

STYLE OF WRITING/ STANDARD FORMAT FOR ACADEMIC PAPERS (RESEARCH
PAPERS AND CRITIQUE ESSAYS)

I want to reiterate (I always remind you in the class regarding this matter) several
important points when you prepare and submit academic papers such as critique essays
and research papers. These are the following:

1. Use 8.5" x 11" (short) white bond paper.
2. Use Times New Roman as your font type.
3. Use 12-point font size.
4. Double spacing is required for the entire essay except for quotations.
5. One inch in all margins is required.
6. Do NOT use sliding folder.
7. Prepare a Title Page of your paper (See the attached sample title page).

Deadline of submission: JULY 19, 2014 SATURDAY UNTIL 7:00 P.M.

Page 6 of 9

For the midterm exam, a combination of different types of tests will be given such as multiple-
choice questions, enumeration, true-or-false questions, essays, etc. This will be a 100-point
test. The midterm exam will be administered on DURING THE REGULAR MIDTERM
EXAMINATION WEEK.

No exam will be given during the pre-final period, too. The class will be divided into several
groups with five (5) members each.

Examples of research topics/titles:

1. A Comparative Study on the Economic Growth and Development among South Signal,
Central Signal, and North Signal Villages in Taguig City
2. A Closer Look at Ayalas Development Plan for FTI Complex in Taguig City
3. A Rising Tiger: Analysis of Philippine Economy
4. A Study on the Employment Status of TFVC Alumni Who Graduated in 2013 & 2014
5. Survival of the Fittest: The Case of Mini-Stop and 7-Eleven Convenience Stores

Deadline of submission: SEPTEMBER 20, 2014 SATURDAY UNTIL 7:00 P.M.

For the final exam, questions will be composed of multiple-choice and essay questions.
Coverage includes but not limited to the questions on short quizzes and the midterm exam.
Final examination will be conducted DURING THE REGULAR FINAL EXAMINATION WEEK.

Short Quizzes There will be several short quizzes to be given for the entire semester. All
questions are objective type. Questions could be enumeration, multiple choice, or true-or-false.
No essay or definition of terms will be given. Each quiz consists of not less than 10 items but not
more than 20 items. They will be given right after the lecture-discussion but the topics covered
are those that have been discussed already and current events. This type of test will measure
your memory and your knowledge about current events.

Online Assignments Four assignments will be given to you throughout the duration of the
course. Assignments will be available two weeks before the deadline on our class website at
http://tfvc2014.weebly.com. Look for the link with the heading ASSIGNMENT, i.e, Assignment
No. 1, Assignment No. 2, Assignment No. 3 and Assignment No. 4 then click Economics with
Land Reform and Taxation. Deadlines of submission are indicated below.

Assignment 1 12 July 2014, 11:59PM
Assignment 2 9 August 2014, 11:59PM
Assignment 3 6 September 2014, 11:59PM
Assignment 4 4 October 2014, 11:59PM

Class Participation Class participation will measure your involvement during discussions.
This class is not designed for a one-way process; this is a two-way communication. Therefore,
recitation is of vital importance. If there is something that is not clear to you, you better ask. You
are free to disagree with me or your classmates even at the middle of my lecture. Exercise your
freedom of expression.





Page 7 of 9

GRADING SYSTEM:

Midterm Period: Final Period:
Critique Essays 30% Midterm Grade 40%
Midterm Exam 30% Research Paper 20%
Class Performance 30% Final Exam 20%
(Quizzes, Assignments) Class Performance 20%
Class Standing 10% (Quizzes, Assignments)


FINAL GRADE = Midterm Grade (40%) + Final Period Grade (60%)


CLASSROOM POLICIES:

The moment you enrolled in the college, you agree to submit yourself to the school policies.
Academic institutions are not social clubs; we have rules to follow.

Attendance It is your responsibility to come to class on our schedule and on time. I will be
checking your attendance regularly. Inform me early if you will be late or if you will leave early.
Anyone who gets a perfect attendance will receive additional 25 points on their midterm and
final exam scores. Perfect attendance means being present in all class sessions. Those with
excused absences will not be given the bonus grade.

A student who has incurred 11 hours of absences in a 3-unit subject during the regular
semester shall be dropped from the roll and given a failing grade (Article VIII, College Student
Handbook: The Fisher Valley College). The 5
th
absence will qualify you to receive a W/F
(withdrawal failure) mark. Necessary warnings will be given to you with excessive absences and
names of students who have incurred 4 or more absences will be reported to the Associate
College Director so that necessary notice can be given to the parents/guardian (No. 4, Policy
Guidelines for Faculty).

Three (3) tardiness marks would mean one (1) day of absence. A student who leaves the
classroom and stay out for the duration of the class period without the professors permission
shall be marked absent (Article VIII, College Student Handbook: The Fisher Valley College).
However, don't use this as an excuse for you to come to class late. This time allowance has
been designed for working students and those who have children to take care of before going to
school. Unavoidable circumstances like traffic are also given consideration.

Cellphone and Other Electronic Gadgets Policy I strongly discourage you using your
cellphones, laptops, and other similar gadgets while we are having class discussions. It does
not only distract me; it is also annoying to your classmates who are listening to my lectures. You
are expected to demonstrate respect to everyone and avoid disruptive behaviors.

Make-up Exams I do not give make-up exams EXCEPT for serious illness or death in the
family. Do not make other commitments on the scheduled dates of examinations. If you have
your examination permit signed by the authorized school authorities and you fail to take the
exam, you will get a grade of 50% or 5.0 on that particular exam. Failure to take the final
examination because of unpaid tuition fee, on the other hand, would mean an INC grade. There
is NO EXEMPTION.

Page 8 of 9

Academic Integrity You are expected to maintain academic integrity at all times. Avoid
cheating during quizzes and examinations. When you cheat, you are making a contribution to
the degradation of the quality of your college education. Plagiarism will not be tolerated as well.
In every academic paper you submit, make sure that you cite properly the authors/institutions of
your references. Claiming something as your own when you actually copied it from someone is
a clear violation. Hiring someone to do your assignments, research papers, or other related
works is also an offense to academic integrity. Any violation committed will have a
corresponding disciplinary action as outlined in the College Student Handbook.

Index Cards - You are required to submit a index card no later than the 3
rd
class meeting
containing the following information:

Front:
a. Last Name, Given Name, Middle Name
b. Student Number, Course, and Section
c. Address (Provincial and Metro Manila)
d. Contact Information (Cellular Phone and Email Address)

Include a 1 x 1 recent photo PASTED (NOT STAPLED) on the upper right corner of the
index card.

Back:
a. All exams, quizzes, and assignments


If you follow all these policies and submit all course requirements, you will surely survive in this
course.


TEXTBOOK:

Nayve, Benito, and Virgilio Pagoso (2008). Principles of Economics. Paraaque City:Nelson
Publication


REFERENCES:

Aban, Benjamin (2006). Law of Basic Taxation in the Philippines. Manila: National BookStore

De Leon, Hector S. (2005). Textbook on Agrarian Reform and Taxation. Quezon City: RexBook
Store

De Leon, Hector S. (2008).Textbook on the Philippine Constitution. Quezon City: RexBook
Store, Inc.

Websites:www.gov.ph, www.neda.gov.ph, www.pids.gov.ph, www.nscb.gov.ph,
www.econ.upd.edu.ph,www.census.gov.phNewspapers, video materials, etc .

Other books that deal with economics topics

Newspapers, websites, movies, and articles/research papers
Page 9 of 9


ARTICLE TITLE 1 BY JUANA DELA CRUZ
ARTICLE TITLE 2 BY MARIA PALAKAIBIGAN
ARTICLE TITLE 3 BY PEDRO PENDUKA





Critique Essays Presented to
Prof. Marlon B. Raquel, Course Instructor
The Fisher Valley College




In Partial Fulfillment of the Requirements for
Economics with Land Reform and Taxation Course





By






JUAN Z. MASIPAG
BACHELOR OF SCIENCE IN ACCOUNTANCY 2






THE FISHER VALLEY COLLEGE
TAGUIG CITY





July 19, 2014