University of Santo Tomas

Faculty of Arts and Letters

Legal Management

Thinking like an economist: A reflection paper by a future lawyer about the course of

applied economics

In Partial Fulfillment for the course of Applied Economics

Trizia Mari Oliver

2021
 Ancora imparo is a latin term that means “I am still learning” and that is the phrase that I

live by. Learning is tough but it’s the best asset that you can have as a person. The opportunity

of having this course as one of my subjects this semester, honestly, has been very helpful for me

as it broadens my vision. At first thought, studying economics would seem like it only covers

businesses, money and anything about market ventures. However, with this course, I was able to

comprehend that it enables people to analyze behavior of other people behind their everyday

actions. We have studied how some factors affect the way people and government responds to

the emerging threat and opportunities, and assess how to evaluate alternatives and make a better

choice. Economics may appear to be obtuse but this discipline has a very powerful implications

to the ever-changing world.

To be honest, I have little interest on economics since it is very hard to understand.

However, as we go through each of the topics, it made me realize that as future lawyers we have

to acquire the skills that this subject is teaching us – understanding fundamental issues so that

we can analyze and make better frameworks for the public. I have to hone my analyzation skills

in order to serve the public well and give good service for my clients. With this, it is not only my

job to learn how the law works but also what is beyond it. To be able to do that, I have to also give

importance to this subject because of the fundamental insights it brings.

I would like to use this opportunity to be able to focus more on the general things that I

have learned through this subject. We have talked and discussed about how markets work,

tradeoffs, public finance, GDP, scarcity, and other concepts. With that being said, all of these

summarizes to one thing – enhancement of reasoning and logical thinking. The diversity of these

topics helped me understand more about how society works.

 All of the activities we have made in this semester (i.e. discussion board, kahoot quizzes,

podcast) has affected the way I work and the way I think. Just like how we study our topics, as

future lawyer, I have to understand that every situation requires a careful consideration of the

facts and how these affect the outcome. Moreover, reflecting on our course made me think that

neither economics nor law can be practiced in isolation. They are both always integrated and

associated to one another.

To sum it all up, the interaction and interdependence of both economics and field of law

will shape the way I view the world. It is vital for me to be able to become an agent of change. In

our generation, it is necessary for us to know the implications of what we have discussed in our

class and apply it to the challenges that we encounter every single day to be able to make better

choices. Throughout the semester, the abilities and skills that I have acquired, will help me not

only in reaching my goal to be a lawyer, but also to overcome and prepare for the “real world”.

Learning and reaching competency requires failure and discovery to be able to assess the things

that I lack. Without a doubt, finishing this course gives me an advantage as it effectively sharpen

my comprehension to specific situations. Just like studying law, the concepts that was taught in

our class never cease to amaze me, and that made me aware of how important economics is.