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Applied economics

Applied economics
Luisito C. Abueg
Renz Adrian T. Calub

Note: This file is a preview of the book “Applied economics”, a textbook for senior high
school (Grade 12). This file contains the table of contents, together with the list of
references.

The book is set to be launched in 2020. For further information, please send your
enquiries to dcs.opm@oup.com.

Luisito C Abueg and Renz Adrian T Calub

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Applied economics

Table of Contents

UNIT 1 From theory to policy: an overview of the economic discipline

1.1 Revisiting economics as a social science
1.2 Microeconomics and macroeconomics
1.3 Economics as an applied science
1.3.1 Normative versus positive economics
1.3.2 Needs versus wants
1.3.3 Scarcity, opportunity costs, and allocation
1.3.4 Ten principles of economics
1.4 A snapshot of the Philippine economy
1.4.1 Population
1.4.2 Economic growth
1.4.3 Labor and employment
1.4.4 Exchange rate, remittances, and foreign income
1.4.5 Public debt

UNIT 2 Fundamentals of supply and demand and its applications

2.1 Elements of supply and demand
2.1.1 Consumer and demand
2.1.2 Firm and supply
2.1.3 Markets and equilibrium
2.2 Price elasticity of supply and demand
2.3 Factors affecting supply and demand
2.3.1 Shifts in the demand curve
2.3.2 Shifts in the supply curve
2.4 Taxes, price and quantity controls
2.4.1 Quantity taxes
2.4.2 Price ceilings
2.4.3 Quotas and quantity restrictions
2.5 Application of supply and demand
2.5.1 Wages and labor
2.5.2 Exchange rates
2.5.3 Housing and real estate
2.6 Economics of costs
2.7 Market power
2.7.1 Perfect competition
2.7.2 Monopoly
2.7.3 Competition among the few

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UNIT 3 Economics of industry and business

3.1 Aspects of industry performance
3.1.1 Market structure
3.1.2 Inputs and cost
3.1.3 Competitive environment
3.1.4 Identification of business opportunities
3.2 Business strategies and practices
3.2.1 Price discrimination
3.2.2 Predatory pricing
3.2.3 Vertical integration
3.2.4 Advertising
3.3 Types of industries
3.3.1 Agriculture
3.3.2 Manufacturing
3.3.3 Retail and services
3.3.4 International trade

UNIT 4 Socioeconomic studies, and the business environment

4.1 Review of the macroeconomy
4.2 Linkages of the domestic economy
4.2.1 Households
4.2.2 Business sector
4.2.3 Financial sector
4.2.4 Government
4.3 The international and global economy
4.3.1 Economic and financial crises
4.3.2 The Association of Southeast Asian Nations
4.2.3 International institutions
4.4 Issues in businesses and investments
4.4.1 Education and labor
4.4.2 Information and communication technology
4.4.3 Incentives to businesses
4.4.4 A look at microenterprises
4.5 Towards a conducive investment climate

Luisito C Abueg and Renz Adrian T Calub

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Applied economics

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