Bachelor of Arts major in Economics
Degree Codes: Program- ABECO Plan – ABECO
The AB Economics program is designed to equip students with knowledge in economic theory and skills for undertaking economic analysis. The program is designed for students who prefer a multidisciplinary approach to economics. It is for those who are keen in understanding how economic analysis is relevant in explaining and resolving pressing economic issues of social importance. 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.
It takes 9 trimesters and 1 summer term to finish the program. To successfully complete the program, students should be able to hurdle 162 units of formal academic coursework as well as comply with the academic requirements set by the two departments. Aside from this academic requirement, students will take up 12 units of non-academic subjects mainly in the interest of enabling a wholistic student development. Students in this program need to write two independent theses that conform with standards prescribed by each department. Students are also required to undertake practicum work in any private corporation or government entity and must demonstrate research ability by writing a research paper. Three course electives in economics designed for those who belong to the economics track are required.
Bachelor of Arts major in Economics
Course Descriptions
BASIC SUBJECTS
COMP1AE Computer Applications for Applied Economics 1
3 units
This course aims to introduce students to basic computer concepts. It is designed to provide students with a broad understanding of the World Wide Web/Information Technology (IT), and provides an initial description of the Microsoft Windows XP environment and usage of the Microsoft Office suite.
Pre-requisite: none
Pre-requisite to: none
ECONONE Introduction to Microeconomics
3 units
The course aims to give an understanding and appreciation of the basic theories and concepts in economics and their applications to current national and international economic concerns. In addition, this course exposes the students to alternative tools of economics analysis and how they are used to solve the problems of a country.
Pre-requisite: COMALGE
Pre-requisite to: ECONTWO
ECONTWO Introduction to Microeconomics
3 units
This course is an introduction to macroeconomics, which will provide students with sufficient understanding of the definition and determinants of aggregate variables in the economy. After a quick review of the fundamental principles of economic analysis, including graphing and theoretical concepts, the rest of the term will focus on learning the tools of macroeconomics, exploring the role of fiscal policy in stabilizing the economy, and studying functions of money and how it can be used as a policy tool in achieving a country’s macroeconomic goals. Armed with the basics, the succeeding sessions will be devoted to deeper discussions of issues involving unemployment and inflation, government budget deficits, exchange rates, the open economy and other current policy concerns.
Pre-requisite: ECONONE
Pre-requisite to: MACREC1, MICREC1 and ECONDEV
LBYECO1 Basic Mathematica 1
1 unit
This course supplements the discussions in MATECO1, which aims to discuss how to solve problems in economics using Mathematica. Being familiar with statistical softwares such as Mathematica will open more learning opportunities and save a lot of time for students.
Pre-requisite: COMP1AE and ECONONE
Pre-requisite to: LBYECO2
LBYECO2 Basic Mathematica 2
1 unit
This course supplements the discussions in MATECO2 aims to discuss how to solve problems in economics using Mathematica. Solving problems manually is not always the best way to achieve learning, especially when problems are hard to do manually.
Pre-requisite: MATECO1, LBYECO1 and ECONTWO
Pre-requisite to: LBYEMET
MATECO1 Mathematical Economics 1
3 units
This course represents the first in a sequence of two mathematical economics courses. The course discusses introductory concepts on the foundations and applications of one-variable calculus and its essential extensions to the multivariate case. In essence, this course highlights how mathematics, in its formalized form, can be integrated into problems in economics like comparative static analysis and highlight and emphasize essential model construction features that will ultimately lead to an enhanced capability to formal model building. This course should be taken simultaneously with LBYECO1 (Basic Mathematica 1).
Pre-requisite: BUSMATH
Pre-requisite to: MATECO2 and LBYECO1
MATECO2 Mathematical Economics 2
3 units
The course deals with the more advanced theories and economic applications of calculus of several variables and optimization. It specifically covers the different functions of several variables, implicit functions, total derivatives, differentials, higher-orders derivatives, and unconstrained and constrained optimization. Building upon the skills learned from its predecessor, MATECO1, this course emphasizes on the logic of mathematical reasoning provided by proofs. This course should be taken simultaneously with LBYECO2 (Basic Mathematica 2).
Pre-requisite: MATECO1
Pre-requisite to: MICREC1, MACREC1 and ECOSTAT
MAJOR SUBJECTS
ECOIORG Industrial Organization
3 units
This course considers the different economic principles, concepts and consequences of inter-market agents’ relations. These Interactions are considered within the context of horizontal, vertical, conglomerate and network perspectives. The anti-trust implications of inter-market agents’ relations using these perspectives are likewise considered.
Pre-requisite: MACREC2 and MICREC2
Pre-requisite to: none
ECONDEV Economic Development
3 units
The course is designed to provide students with a thorough understanding of the concepts and principles of development economics and equip them of tools necessary to analyze, evaluate and interpret contemporary Philippine economic development issues. The course includes a rigorous discussion of the models of economic growth and development as well as a critical analysis of these models particularly in the context of the experience of less developed countries. It will also look into current policy controversies in developing countries and alternative forms of financing economic growth. Issues concerning trade orientation, trade reform and its effects on growth and development will be discussed along with financial reform and its effects on savings, investment and growth. The course examines the critical problems and issues that these countries face as they try to develop, and the government policies that are implemented to address these issues. Classes are conducted principally through class discussions and lectures.
Pre-requisite: MACREC2 and MICREC2
Pre-requisite to: THSECO1
ECOSTAT Economic Statistics
3 units
This course is an introductory subject in statistical data analysis. Emphasis is given to the understanding of basic statistical tools and techniques as used by practicing economists. This course also prepares the students for the rigors of empirical courses like econometrics and economic research.
Pre-requisite: ECONTWO and MATECO2
Pre-requisite to: ECONMET and LBYEMET
ECONMET Introduction to Econometrics
3 units
This course uses basic econometric theory to enable students to appreciate the applications of this quantitative method in support of economic analysis. Relying mainly on statistical inferences, the course allows students to understand economic behavior, effects on market agents and measure probable impacts of different policies and scenarios.
Pre-requisite: ECOSTAT
Pre-requisite to: METRESE
ECOMET2 Advanced Econometrics
3 units
This course is meant to provide Economics majors the opportunity to specialize on advance econometric modeling tools and techniques frequently used in the empirical literature.
Pre-requisite: ECONMET and LBYEMET
Pre-requisite to: none
INTECON International Economics
3 units
The course deals with the economic basis of the global trade in goods and services. It covers various economic theories explaining the causes, pattern and gains from trade. In evaluating the gains from international trade, the course will analyze the effects of trade on production, consumption, employment, income distribution, economic growth, and social welfare. It will also cover the basis and implications of various commercial policies that can hinder the free flow of goods and services internationally. The course will also feature causes, trends, and potential impact of international factor movements, particularly labor migration and capital flows. Finally, the course will present various avenues for regional economic integration.
Pre-requisite: MACREC2 and MICREC2
Pre-requisite to: INTEFIN
LBYEMET Laboratory for Econometrics
1.5 units
This course supplements the discussions in ECONMET, aims to discuss the use of software packages for data management and econometric analysis. You will be introduced to using EXCEL, EVIEWS, GRETL, MATHEMATICA, STATA, and many other software packages that are convenient, powerful, and practical.
Pre-requisite: ECOSTAT
Pre-requisite to: LBYMET2
LBYMET2 Advanced Econometrics Laboratory 2
1 unit
This course is a supplement to Advanced Econometrics (ECOMET2) that allows hands-on demonstration of the estimation techniques to be learned in ECOMET2. This course uses Stata as the software to implement the estimation techniques and tests. It also provides an opportunity for students to conduct a study and apply the techniques learned on real-world data.
Pre-requisite: ECOMET and LBYEMET
Pre-requisite to: none
MACREC1 Macroeconomics 1
3 units
The course deals with the analysis of overall behavior of the economy. It will strive to explain trends or fluctuations in important macroeconomic aggregates like output, employment and prices. It will also cover important theoretical underpinnings behind different paradigms in macroeconomics as in Keynesian and classical models. Using basic aggregate demand and aggregate supply framework, the course will explain the determination of equilibrium output, prices, interest rates under a closed economy and open economy model. It will use microeconomic foundations to explain behavior of macro variables like consumption, investment, government spending etc. Towards the end, special topics like theory of economic policy and inflation-unemployment trade-off will be discussed. Discussion of theories will be related to recent developments in the economy which have important policy implications.
Pre-requisites: ECONTWO and MATECO2
Pre-requisite to: MACREC2
MACREC2 Macroeconomics 2
3 units
This course will elucidate on core concepts and special topics in macroeconomics. It will deal with the analysis of the behavior of economic aggregates like output, employment, prices interest rates, exchange rate and balance of payment under more complex assumptions. It will tackle open economy macroeconomic models, explain the existence of hyperinflation and high unemployment, expound on the existence of business cycles and on the concept of long-run economic growth. It will give some attention to the role of expectations in accounting for intertemporal choices of household, firm, government sector and foreign sector. It will strive to give an understanding of workings of financial markets and how current global financial crisis came to fore. In the end, it is hoped that students will be well equipped to analyze and understand with greater depth current macroeconomic problems within the local and international context.
Prerequisite: MATECO2 and MACREC1
Prerequisite to: ECONDEV, INTECON, METRESE and ECOIORG/PUBFINA
METRESE Methods of Research
3 units
This course initiates students into the experience of proposing a “discovery-based” economic research problem (as opposed to other forms of research, e.g., “action”, “pedagogical”, etc.). Through lectures, workshops, and group presentations, they are expected to produce a properly formatted research proposal containing an abstract, as well as introductory, review, theory and method chapters that are to be presented to their prospective thesis panelists.
Pre-requisite: MACREC1, MICREC1 and ECONMET
Pre-requisite to: THSECO1
MICREC1 Intermediate Microeconomic Theory I 3 units
This course is the first of a two-course Intermediate Microeconomic Theory sequence where it provides students with the central concepts of decision-making and optimization in a competitive market framework. Simple mathematical models are used to develop these concepts. It concentrates on the theories of consumer decision-making, production and costs, and the partial equilibrium competitive model. At the intermediate level, the course will provide students with a more theoretical treatment of topics that they have been exposed to in previous basic principles of economics courses.
Pre-requisite: ECONTWO and MATECO2
Pre-requisite to: MICREC2
MICREC2 Intermediate Microeconomic Theory II
3 units
This course is the second of a two-course study of Intermediate Microeconomic Theory. This course examines partial equilibrium analysis of price determination in the market for goods under imperfectly competitive structures (monopoly, oligopoly and monopolistic competition). We then analyze the efficiency of a competitive model of market interdependence (e.g., general equilibrium and welfare). Moreover, we will become familiar with the limits to optimal market allocation (market failures) due to externalities and public goods. Finally, special topics on optimal allocation and price determination in the market for production inputs (labor and capital services), decision-making under uncertainty, and the economics of information are taken up.
Prerequisite: MICREC1
Prerequisite to: INTECON, ECONDEV, METRESE and ECOIORG/PUBFINA
PUBFINA Public Finance
3 units
The course focuses on the microeconomic implications of government activity, that is, how it affects the allocation of existing resources and the distribution of income. It focuses not only with the positive aspects (the analysis of the impact of government taxes and spending activities) but more so with the normative aspects (an evaluation of the desirability of a policy). It also introduces the student to the framework and tools used in the economic analysis of government policies and illustrate their application to some of the tax and expenditure programs of governments.
Pre-requisite: MACREC2 and MICREC2
Pre-requisite to: none
OPERRES Operations Research
3 units
The course tackles the relevance and applicability of quantitative tools in managerial decision-making. Specifically, it trains students to construct mathematical models of problem situations calling for executive action.
Pre-requisite: MACREC2 and MICREC2
Pre-requisite to: none
PRCECON Economics Practicum
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. Students who are enrolled in the program are required to render at least two hundred (200) hours of practicum training with an organization that is based in the Philippines and are expected to submit a progress report on a periodic basis.
Prerequisite: THSECO2
Prerequisite to: none
THSECO1 Thesis Writing 1
3 units
This course discusses the thesis proposal stage writing process where students meet their panel advisers to present their research proposal.
Pre-requisite: METRESE, INTECON and ECONDEV
Pre-requisite to: THSECO2
THSECO2 Thesis Writing 2
3 units
This course is a continuation of Thesis Writing 1 where students meet regularly with their panel advisers to present their thesis.
Pre-requisite: THSECO1
Pre-requisite to: none
AB ECONOMICS ELECTIVES
AGRIECO Agricultural Economics
3 units
The course provides a complex approach to the agricultural food sector and to its role in the economy and in the society. It discusses the major characteristics of agriculture at microeconomic, macroeconomic and international levels. Also, the course helps to understand the complex problem of agricultural and rural development, and encourages the students to create new alternatives for the development of the Philippine agriculture and rural life.
Prerequisite: MACREC2 and MICREC2
Prerequisite to: none
COMPRES Comparative Economic Systems
3 units
This course discusses the different mechanisms for organizing economic units in different societies and decision making in response to economic problems. It concentrates on problems in production and distribution as well as understanding the limitations of different economic systems.
Pre-requisite: MICREC2, MACREC2 and ECONDEV
Pre-requisite to: none
ECONHIS Philippine Economic History
3 units
This course is designed to provide students with a thorough understanding of the concepts and principles of development economic as they apply to Philippine economic history. It provides a rigorous discussion of the models of economic growth and development as well as a critical analysis of these models particularly in the context of the experience of less developed countries. It also examines the critical problems and issues that the country faces as it tries to develop, and the government policies that are implemented to address these issues.
Pre-requisite: MACREC2, MICREC2 and ECONDEV
Pre-requisite to: none
GRWECON Growth Economics
3 units
This course explores the modern theories of economic growth. It seeks to answer three basic questions about economic growth and development: (a) Why are developed economies so rich and developing economies so poor? (b) What is the engine of economic growth that allows economies to grow on a sustained basis over a century or longer? (c) How is it that some economies are able to undertake rapid transformations from being poor to being rich? Conversely, how is it that other economies wallow in low or negative growth over long periods?
Pre-requisite: MICREC2 and MACREC2
Pre–requisite to: none
INTECOR International Economic Relations,br/> 3 units
This course covers the contemporary issues confronting the economic relations among nations. It focuses on the discussion of global economic issues and trade relations of the Philippines with the major market. Also, it covers the leading contemporary issues in international trade and finance.
Prerequisite: MICREC2 and MACREC2
Prerequisite to: none
LABOREC Labor Economics
3 Units
This course introduces how the labor market works and focuses on the behavior of profit-maximizing firms and utility-maximizing workers in the labor market, and the implied equilibrium of labor demand and supply. Other topics covered in the course include investment in education and training, migration and turnover, and inequality and gender in the labor market.
Pre-requisite: MICREC2 and MACREC2
Pre–requisite to: none
POLECON Political Economy
3 units
This course deals with the interactions of the economic, social and political units which either directly or indirectly influence the allocation of resources into their most productive utilization. It discusses the historical account of the major schools of thought, and the corresponding personalities involved in the development of political economic theory.
Pre-requisite: MICREC2 and MACREC2
Pre–requisite to: none
SPECTO Special Topics in Economics
3 units
Other special topics for AB Economics major will be discussed in this course.
Pre-requisite: MICREC2 and MACREC2
Pre-requisite to: none
Updated: July 24, 2013