KINGFISHER SCHOOL OF BUSINESS AND FINANCE

Senior High School

APPLIED ECONOMICS

4 Units (80 hours, 3 Sessions per Week)

SCHEDULE TOPICS STUDENT EVALUATION ACTIVITIES (Formative/Summative) TIMEFRAME CODE

a. Overview of the Course Orientation:

b. Levelling of Expectations a. Classroom Rules
c. Dos and Don'ts b. Course Coverage/Topics
d. Grading System/Basis of Measuring Performance c. Basis for Measuring Performance
WEEK 1.1 1 hr 20 mins

Levelling of Expectations:
ACTIVITY: What I Expect to Gain from Studying Applied
Economics
QUARTER 3

WEEK 1.2 Diagnostic Exam 1 hr 20 mins

Chapter 1 - Introduction to Applied Economics

WEEK 1.3 1.1 Economic Problem - Making the 'Right' Choices REFLECTION: Why should I study Applied Economics 1 hr 20 mins ABM-AE12-Ia-d
1.2 Key Economic Principles (Mankiw)
1.3 Thinking Like an Economist ACTIVITY: Graphing Exercise
1.3.1 Scientific Method and Assumptions TAKE-HOME:
WEEK 2.1 1 hr 20 mins ABM-AE12-Ia-d
1.3.2 Economic Model #1 - Circular Flow Model a. Circular Flow Diagram
1.3.3 Economic Model #2 - Prod'n Possibilities Frontier b. Prod'n Possibilities Frontier
1.4. Interdependence and Gains from Trade
1.4.1 A Parable for the Modern Economy REFLECTION #1: Should the Philippines actively engage in trade
WEEK 2.2 1 hr 20 mins ABM-AE12-Ia-d
1.4.2 Comparative Advantage : The Driving Force of Specialization with the United States, China and EU?
1.4.3 Application of Comparative Advantage
SCHEDULE TOPICS STUDENT EVALUATION ACTIVITIES (Formative/Summative) TIMEFRAME CODE

QUIZ #1 - Chapter 1 1 hr
WEEK 2.3
Review and Discussion of Quiz #1 20 mins

Chapter 2 - Applied Economics ACTIVITY: Case Study

2.1 Market Forces of Supply and Demand
WEEK 3.1 2 Ways to Reduce the Quantity of Smoking Demanded 1 hr 20 mins ABM-AE12-Ie-h
2.1.1 Markets and Competition
2.1.2 Demand
2.1 Market Forces of Supply and Demand (cont'd) ACTIVITY: In-Class Demo
2.1.3 Supply A Market Example
WEEK 3.2 1 hr 20 mins ABM-AE12-Ie-h
2.1.4 Demand and Supply Together
2.1.5 How Price Allocate Resources
SEATWORK:
a. Competitive Markets
WEEK 3.3 1 hr 20 mins ABM-AE12-Ie-h
b. Demand
c. Supply
2.2 Elasticity and its Application
2.2.1 The Elasticity of Demand
WEEK 4.1 1 hr 20 mins ABM-AE12-Ie-h

2.2 Elasticity and its Application (cont'd) ACTIVITY: In-Class Demo

2.2.2 The Elasticity of Supply Ranking Elasticities
WEEK 4.2 1 hr 20 mins ABM-AE12-Ie-h
2.2.3 Three Applications of Elasticity of Demand and Supply

SEATWORK:
a. Demand Elasticity
WEEK 4.3 1 hr 20 mins ABM-AE12-Ie-h
b. Supply Elasticity
SCHEDULE TOPICS STUDENT EVALUATION ACTIVITIES (Formative/Summative) TIMEFRAME CODE

2.3. Supply, Demand and Government Policies ACTIVITY: Case Study

2.3.1 Controls on Prices - Price Floors and Price Ceilings Who Pays the Luxury Tax
WEEK 5.1 1 hr 20 mins ABM-AE12-Ie-h
2.3.2 Taxes

2.3. Supply, Demand and Government Policies (cont'd) SEATWORK:

2.3.3 Elasticity and Tax Incidence a. Price Floors and Price Ceilings
WEEK 5.2 1 hr 20 mins ABM-AE12-Ie-h
b. Taxes

QUIZ #2 - Chapter 2 Pt. 1 1 hr

WEEK 5.3 ABM-AE12-Ie-h
Review and Discussion of Quiz #2 Chap 2 Pt 1 20 mins

2.4. Consumers, Producers, and the Efficiency of Markets ACTIVITY: In-Class Demo
2.4.1 Consumer Surplus Value of a Time Machine
WEEK 6.1 1 hr 20 mins ABM-AE12-Ie-h
2.4.2 Producer Surplus

2.4. Consumers, Producers, and the Efficiency of Markets (cont'd) SEATWORK:

2.4.3 Market Efficiency and Market Failure a. Consumer Surplus
WEEK 6.2 1 hr 20 mins ABM-AE12-Ie-h
b. Producer Surplus
c. Total Surplus
2.5 The Costs of Taxation SEATWORK:
2.5.1 The DWL of Taxation a. Taxes
WEEK 6.3 1 hr 20 mins ABM-AE12-Ie-h
2.5.2 The Determinants of DWL b. Deadweight Loss
2.5.3 Deadweight Loss & Tax Revenue as Taxes Vary c. Welfare Analysis - Consumer Surplus & Producer Surplus
2.6 International Trade ACTIVITY: Case Study
2.6.1 The Determinants of Trade Trade Agreements and the World Trade Organization
WEEK 7.1 1 hr 20 mins ABM-AE12-Ie-h
2.6.2 The Winners and Losers from Trade
2.6.3 The Arguments for Restricting Trade
SEATWORK:
a. International Trade Exports 1 hr
WEEK 7.2 ABM-AE12-Ie-h
WEEK 7.2 ABM-AE12-Ie-h
b. International Trade Tariffs 20 mins

SCHEDULE TOPICS STUDENT EVALUATION ACTIVITIES (Formative/Summative) TIMEFRAME CODE

QUIZ #3 - Chapter 2 Pt. 2 1 hr

WEEK 7.3 ABM-AE12-Ie-h
Review and Discussion of Quiz #3 Chap 2 Pt 2 20 mins

2.7 Externalities
2.7.1 Externalities and Market Efficiency
WEEK 8.1 1 hr 20 mins ABM-AE12-Ie-h
2.7.2 Public Policies toward Externalities
2.7.3 Private Solutions to Externalities
2.7 Externalities (cont'd) ACTIVITY: Case Study
Why is Gasoline Taxed So Heavily
WEEK 8.2 1 hr 20 mins ABM-AE12-Ie-h

2.8 Public Goods and Common Resources ACTIVITY: Case Study

2.8.1 The Different Kinds of Goods Are Lighthouses Public Goods
WEEK 8.3 1 hr 20 mins ABM-AE12-Ie-h
2.8.2 Public Goods Why the Cow is not Extinct
2.8.3 Common Resources
2.9 The Design of the Tax System
2.9.1 Taxes and Efficiency
WEEK 9.1 1 hr 20 mins ABM-AE12-Ie-h
2.9.2 Taxes and Equity
2.9.3 Trade-Off between Equity and Efficiency
2.9 The Design of the Tax System (cont'd) SEATWORK:
a. Taxes and DWL
WEEK 9.2 1 hr 20 mins ABM-AE12-Ie-h
b. Welfare Analysis
c. Fiscal Policy - Government Revenue

QUIZ #4 - Chapter 2 Pt. 3 1 hr

WEEK 9.3 ABM-AE12-Ie-h
WEEK 9.3 ABM-AE12-Ie-h
Review and Discussion of Quiz #4 Chap 2 Pt 3 20 mins

SCHEDULE TOPICS STUDENT EVALUATION ACTIVITIES (Formative/Summative) TIMEFRAME CODE

REFLECTION PAPER #1
Is the Tax Reform Program TRAIN Pro-Poor or Not?
WEEK 10 THIRD QUARTER EXAM

QUARTER 4

WEEK 11.1 Review of Third Quarter Exam 1 hr 20 mins

Chapter 3 - Industry and Environmental Analysis ACTIVITY: In-Class Demo

3.1 The Costs of Production Growing Rice on a Chalkboard
WEEK 11.2 1 hr 20 mins ABM-AE12-IIa-d
3.1.1 What are Costs
3.1.2 Production and Cost
3.1 The Costs of Production (cont'd) ACTIVITY: In-Class Demo
3.1.3 The Various Measures of Cost Average and Marginal Grades
WEEK 11.3 1 hr 20 mins ABM-AE12-IIa-d
3.1.4 Cost in the Short Run and in the Long Run

3.1 The Costs of Production (cont'd) SEATWORK:

a. Implicit/Explicit Cost; Accounting/Economic Profit
WEEK 12.1 1 hr 20 mins ABM-AE12-IIa-d
b. Marginal Product
c. Production and Cost
3.2 Firms in Competitive Markets ACTIVITY: In-Class Assignment
3.2.1 What is a Competitive Market A Profitable Opportuniuty?
WEEK 12.2 1 hr 20 mins ABM-AE12-IIa-d
WEEK 12.2 1 hr 20 mins ABM-AE12-IIa-d
3.2.2 Profit Maximization and the Competitive Firm's Supply Curve
3.2.3 The Supply Curve in a Competitive Market
3.2 Firms in Competitive Markets (cont'd) SEATWORK:
a. Perfect Competition - short run
WEEK 12.3 1 hr 20 mins ABM-AE12-IIa-d
b. Perfect Competition - long run
c. Production and Cost

SCHEDULE TOPICS STUDENT EVALUATION ACTIVITIES (Formative/Summative) TIMEFRAME CODE

3.3 Monopoly ACTIVITY: Case Study

3.3.1 Why Monopoly Arise Monopoly Drugs vs Generic Drugs
WEEK 13.1 1 hr 20 mins ABM-AE12-IIa-d
3.3.2 How Monopolies Make Production and Pricing Decisions
3.3.3 The Welfare Cost of Monopolies
3.3 Monopoly (cont'd) In-Class Demo
3.3.4 Price Discrimination Price Discrimination and Time Travel
WEEK 13.2 1 hr 20 mins ABM-AE12-IIa-d
3.3.5 Public Policy Toward Monopolies
3.3.6 The Prevalence of Monopolies
3.3 Monopoly (cont'd) SEATWORK:
a. Perfect Competition - short run
WEEK 13.3 1 hr 20 mins ABM-AE12-IIa-d
b. Perfect Competition - long run
c. Production and Cost
3.4 Monopolistic Competition ACTIVITY: Case Study
3.4.1 Between Monopoly and Perfect Competition Advertising and the Price of Eyeglasses
WEEK 14.1 1 hr 20 mins ABM-AE12-IIa-d
3.4.2 Competition with Differentiated Products
3.4.3 Advertising
3.4 Monopolistic Competition (cont'd) SEATWORK:
a. Efficient Scale
WEEK 14.2 1 hr 20 mins ABM-AE12-IIa-d
b. Excess Capacity
c. Externalities
3.5 Oligopoly ACTIVITY: Case Study

WEEK 14.3 1 hr 20 mins ABM-AE12-IIa-d

 3.5.1 Markets with Only a Few Sellers The Microsoft Case
WEEK 14.3 1 hr 20 mins ABM-AE12-IIa-d
3.5.2 The Economics of Cooperation
3.5.3 Public Policy toward Oligopolies
3.5 Oligopoly (cont'd) SEATWORK:
a. Cartels
WEEK 15.1 1 hr 20 mins ABM-AE12-IIa-d
b. Game Theory - Dominant Strategy
c. Nash Equilibrium

SCHEDULE TOPICS STUDENT EVALUATION ACTIVITIES (Formative/Summative) TIMEFRAME CODE

QUIZ #5 - Chapter 3 Pt. 1 1 hr

WEEK 15.2
Review and Discussion of Quiz #5 Chap 3 Pt 1 20 mins

3.6 Labor Markets - The Markets for the Factors of Production

3.6.1 The Demand for Labor
WEEK 15.3 1 hr 20 mins ABM-AE12-IIa-d
3.6.2 The Supply for Labor
3.6.3 Equilibrium in the Labor Market
3.6 Labor Markets - The Markets for the Factors of Production (cont'd) ACTIVITY: Case Study
Productivity and Wages
WEEK 16.1 1 hr 20 mins ABM-AE12-IIa-d

3.7 Earnings and Discrimination ACTIVITY: Case Study

3.7.1 Some Determinants of Equilibrium Wages Is Emily More Employable than Lakisha
WEEK 16.2 1 hr 20 mins ABM-AE12-IIa-d
3.7.2 The Economics of Discrimination

3.8 Income Inequality and Poverty REFLECTION PAPER #2

WEEK 16.3 1 hr 20 mins ABM-AE12-IIa-d

 3.8.1 The Measurement of Inequality Can A New Player in the INFO-TECH Industry Improve the
WEEK 16.3 1 hr 20 mins ABM-AE12-IIa-d
3.8.2 The Political Philosophy of Redistributing Income Quality of Internet Service in the Country
3.8.3 Policies to Reduce Poverty

WEEK 17 FOURTH QUARTER EXAM

WEEK 18.1 Review of Fourth Quarter Exam 1 hr 20 mins

SCHEDULE TOPICS STUDENT EVALUATION ACTIVITIES (Formative/Summative) TIMEFRAME CODE

Chapter 4 - Socio-Economic Impact Study

4.1 Measuring a Nation's Income ACTIVITY: Case Study
4.1.1 The Measurement of GDP The Real GDP over Recent History
WEEK 18.2 1 hr 20 mins ABM-AE12-IIe-g
4.1.2 The Components of GDP
4.1.3 Real vs Nominal GDP
4.1 Measuring a Nation's Income (cont'd) ACTIVITY: In-Class Demo
4.1.1 The Measurement of GDP GDP and Well-Being
WEEK 18.3 1 hr 20 mins ABM-AE12-IIe-g
4.1.2 The Components of GDP
4.1.3 Real vs Nominal GDP
4.2 Measuring the Cost of Living ACTIVITY: In-Class Demo
4.2.1 The Consumer Price Index Create a Student Price Index
WEEK 19.1 1 hr 20 mins ABM-AE12-IIe-g
4.2.2 Correcting Economic Variables for the Effects of Inflation

4.3 The Monetary System ACTIVITY: In-Class Demo

4.3.1 The Meaning of Money Money Creation
WEEK 19.2 1 hr 20 mins ABM-AE12-IIe-g
4.3.2 The Bangko Sentral ng Pilipinas
4.3.3 Banks and the Money Supply
 4.4 Money Growth and Inflation ACTIVITY: In-Class Demo
4.4.1 The Classical Theory of Inflation The Inflation Fairy
WEEK 19.3 1 hr 20 mins ABM-AE12-IIe-g
4.4.2 The Cost of Inflation

4.5 Socio-Economic Impact Study ACTIVITY: Socio-Economic Impact Study

4.1.1 Conditional Cash Transfer - 4Ps Program
WEEK 20 1 hr 20 mins ABM-AE12-IIe-g
3.5.2 K to 12 Program
3.5.3 Tax Reform for Acceleration and Inclusion (TRAIN)
TOTAL 80 hours

Main Textbook:
Mankiw, N. Gregory (2015) . PRINCIPLES OF ECONOMICS. Cengage Learning Asia Pte Ltd. 1st Philippine Reprint

Prepared by:

RAUL E. SERAFICA
Subject Teacher

APPROVED:

AUGUSTUES P. LAMBINO
Academic Dean