Bachelor of Science in Applied Economics
Degree Codes: Program- BSAEC Plan -BSAEC


Rationale

The applied economics program is designed to equip students with knowledge in economic theory and skills for undertaking economic analysis. The program is for those who are interested in understanding how economic analysis can resolve issues encountered within the business environment. Students are expected to: understand the importance of formal economic and econometric modeling frameworks and strategies emphasizing on the increasingly dominant role of mathematics and logic, achieve effective communication in conveying the essential aspects of economic policy and its implications through applied research, develop problem solving skills needed for business and integrate the core La Sallian values to transform oneself into a vital resource for God and country. Aside from incorporating mathematical and logical rigor, the curriculum encompasses important fields like corporate planning, financial economics, international trade and finance and money and banking.

It takes 9 trimesters and 1 summer term to finish the program. To successfully complete the program, students should be able to hurdle 159 units of formal academic coursework as well as comply with other academic requirements set by the department. Aside from this academic requirement, students will take up 12 units of non-academic subjects mainly in the interest of achieving a wholistic student development. Students in this program need to write a  thesis that conforms with standards prescribed by the department. Students are also required to undertake practicum work in any private corporation or government entity and must demonstrate ability by writing a research paper. Four course electives in economics designed for those who belong to the applied economics track are required.

Course Descriptions
 

Basic Subjects

Basic Microeconomics (ECONONE)
3 units
The course introduces students to basic microeconomics. It focuses on individual decision-making units like the consumer and suppliers. It is also deals with trends that affect particular business firms, workers, or regions in the economy.

Basic Macroeconomics (ECONTWO)
3 units
This course is an introduction to macroeconomics, the study of aggregate (or national) economic behavior and the economy as a whole. It provides concepts and tools necessary to read the newspaper critically for economic content, while providing a foundation for future economics courses.

Computer Package 1 for Economics majors (COMP1AE)
3 units
This course reviews students of the basic computer concepts as well as the Internet. The course provides an initial description of Microsoft Windows environment and an application of MS Office (latest) such as Word, Excel and PowerPoint. All exercises will focus on applications in Economics.

Mathematical Economics 1 (MATECO1)
3 units
The course discusses introductory concepts on mathematics for economists including the foundations and applications of one-variable calculus, exponential functions and logarithms. It also tackles linear algebra, systems of linear equations, matrix algebra and the determinant, and Euclidean spaces. The course covers mathematical theories with economic applications.

Mathematical Economics 2 (MATECO2)
3 units
The course deals with the theories and economic applications of calculus of several variables and optimization. It specifically covers limits, the different functions of several variables, implicit functions, total derivatives, differentials, higher-order derivatives, and constrained and unconstrained optimization.

Mathematical Economics 1 Laboratory (LBYECO1)
0.5 units
This course is the computer laboratory counterpart of MATECO1 - Mathematical Economics 1 lecture. It is designed to provide students with the basic skills and knowledge of the software Mathematica that will aid them in understanding the various Mathematical Economic tools and techniques.

Mathematical Economics 2 Laboratory (LBYECO2)
0.5 units
This course is the computer laboratory counterpart of MATECO2 - Mathematical Economics 2 lecture. It is designed to provide students with the basic skills and knowledge of the software Mathematica that will aid them in understanding the various Mathematical Economic tools and techniques.

Econometrics Laboratory (LBYEMET)
1.5 units
This course is the computer laboratory counterpart of ECONMET - Econometrics lecture. It is designed to provide students with the basic skills and knowledge of various Econometric softwares such as EVIEWS and STATA. Morevoer, it is a computer application of the Econometric tools and techniques.

Econometrics 2 Laboratory (LBYMET2)
0.5 units
This course is the computer laboratory counterpart of ECOMET2 (Econometrics 2). It is designed to equip students with the skills on how to use the Stata software to create panel data regression models, dynamic econometric models, etc.

Major Subjects

Intermediate Macroeconomics 1 (MACREC1)
3 units
The course deals with the analysis of the overall behavior of the economy. Using a framework that defines equilibrium based on the goods market, the financial markets, and the labor market, the course will explain the determination of equilibrium output, prices, and interest rates in the short run and medium run. It will also analyze how monetary and fiscal policies affect these macroeconomic variables.

Microeconomics 1 (MICREC1)
3 units
This course is the first of a two-course Intermediate Microeconomic Theory sequence. It aims to provide students with the central concepts of decision-making and optimization in a competitive market framework. It concentrates on the theories of consumer decision-making, production and costs, and the partial equilibrium competitive model.

Economic Statistics (ECOSTAT)
3 units
A study of the foundations of statistics, probability theory and distributions, hypothesis testing, estimation and introduction to regression techniques. Applications of these statistical methods in the pursuit of economic analysis are considered.

Intermediate Macroeconomics 2 (MACREC2)
3 units
This course will discuss certain macroeconomic issues that are concerned with economic growth and the role of expectations. It will also present the dynamics of the open macroeonomy, focusing on exchange rates, the IS-LM model, among others.

Microeconomics 2 (MICREC2)
3 units
This course is the second of a two-course Intermediate Microeconomic Theory sequence. It examines partial equilibrium analysis of price determination in the market for goods under imperfectly competitive structures (monopoly, oligopoly, and monopolistic competition). It also analyzes the efficiency of a competitive model of market interdependence as well as the limits to optimal market allocation due to externalities and public goods. Special topics on optimal allocation and price determination, decision-making under uncertainty, and the economics of information are also taken up.

Econometrics (ECONMET)
3 units
A study of econometric methods for students who have had a term's work in economic statistics. The course includes a study of the classical linear regression model and the basics of econometric theory covering among others autocorrelation, multicollinearity, and heteroscedasticity.

International Economics (INTECON)
3 units
A study of the theory and practice of international trade and developmental factors in national economics that affect international business operations. Topics include: comparative advantage, factor endowments, trade restrictions, customs unions, contribution of foreign investment to development.

Development Economics (ECONDEV)
3 units
A course involving a digression of development theories and growth models. Economic explanations of various problem in development and policy alternatives are taken. Experiences of developed and fast growing economies are considered for the exposition of various development paths.

Public Finance (PUBFINA) for AB-Economics majors
3 units
A course which analyzes the economic considerations of the government's role in the economy. Instruction is geared towards providing an adequate framework for evaluating policy interventions made by the government.

Industrial Organization (ECOIORG) for BS Economics majors
3 units
This course considers the different economic principles, concepts and consequences in the market interaction of firms. Interactions are considered within horizontal, vertical, conglomerate and network externalities relations. Implied anti-trust policies will also be considered as part of the analysis.

Methods of Research (METRESE)
3 units
This is a hands-on learning course where students are 1) familiarized with a general approach for conducting a basic scientific research project and 2) expected to implement the process of doing research in economics with the end result of producing an extensive review of related literature and mini-thesis proposal.

Econometrics 2 (ECOMET2)
3 units
This course is a sequel to Introductory Econometrics (ECONMET) and focuses on the theory and applications of advanced single equation and basic simultaneous equations econometric models. Topics to be covered include qualitative response regression models, panel data regression models, dynamic econometric models and the basics of simultaneous-equation models. The course will culminate in the discussion of the various tools and techniques used in time series econometrics.

Thesis Writing 1 (THSECO1)
3 units
Thesis proposal stage writing wherein the students get to meet their panel advisers to present their proposal.

Thesis Writing 2 (THSECO2)
3 units
Continuation of thesis writing and final defense.

Practicum (PRCECON)
3 units
This course is the practical application of the theories and models discussed in the major subjects. Students get to be exposed in the corporate world and prepare a research paper related to their assigned work.

Electives

Prerequisites: MACREC2 & MICREC2

Corporate Planning (CORPLAN)
3 units
A course focusing on the processes of systematic corporate decision-making and planning for the future. It discusses the various stages of planning including formulation of objectives, identification of resources, identification, selection of alternative courses of action, and evaluation of decisions.

Development Planning (DEVPLAN)
3 units
A course in the use of economy-wide planning with emphasis on less developed countries. The course considers economics aggregates such as total output, savings, investment, government spending, and foreign transactions, and explores sectoral relationships in the economy.

Energy and Resource Economics (ENRECON)
3 units
An introduction to economic geography of the Philippines. It covers the distribution, utilization, exploitation, and conservation of the different natural resources of the Philippines. It is also intended as an introduction to the analysis of supply and demand for energy resources.

Economic Model Building and Forecasting (ECOFORE)
3 units
A course introducing students to procedures in the development, maintenance, and utilization of univariate and multivariate forecasting models. The course includes a survey of time-series analysis tools, numerical procedures for the solution of linear and non-linear forecasting models together with their dynamic properties.

International Finance (INTEFIN)
3 units
A course which focuses on different theories, approaches, and practices relating to balance of payments adjustments, international capital movements, international liquidity, exchange rate determination, and optimum currency areas including contemporary international problems and monetary arrangements.

Introduction to Managerial Economics (MANAGEC)
3 units
A study of how the theory of consumer behavior, firm and market structures can be used to guide management decision making. Applications are made under different market situations. Emphasis on the use of mathematical tools are given.

Money and Banking (MONBANK)
3 units
A study of the role of money and financial institutions in the economy. The course includes discussion of monetary policy, money and income determination, inflation, exchange rate management, interest rate determination and financial development.

Project Analysis (PRANALY)
3 units
An introduction to cost-benefit analysis of projects. Topics include identification and measurement of costs and benefits, valuation, shadow pricing, and investment criteria for comparing costs and benefits. Different methodoligies in statistics, econometrics and operations research are given extensive application in this course.

Special Topics in Economics (SPECTOP)
3 units
This course covers a wide range of special topics for BS Economics majors.

Urban Economics (URBANEC)
3 units
A study of the allocation of space and locations in urban setting. Key concepts, theories and techniques of urban economics are also presented. Economic aspects of urban problems are analyzed and relevant policy implications are considered.