EFFECTS OF THE COVID-19 PANDEMIC TO THE GLOBAL ECONOMY

A Study
Presented to the
Senior High School Department
of Asian College of Technology - Bulacao
Talisay City

In Partial Fulfillment
of the Requirements for the Subject
APLD 03 - Practical Research 2

by

RHEA ANGELYN ATTA

HOLY CHRISTIAN QUEROBIN
JOHN PAUL CAÑETE

ROWE V. ABALAYAN, LPT

Research Instructor

December 2020

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 ACKNOWLEDGEMENT

We extend our deepest gratitude to our APLD 3 teacher, Ms. Rowe V. Abalayan,
for aiding us in making our Research Paper and guiding us throughout our investigation
in this project. To our parents who supported us morally and financially.

And lastly, to our God the Father who gave us the strength and capability in
making this project a successful one. Also, for His guidance from above in everything
we do for the accomplishment of our project.

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 DEDICATION

We dedicate this project first and foremost to God Almighty, our creator, our
strong pillar, our source of inspiration, wisdom, knowledge and understanding. He has
been the source of our strength throughout this program and on His wings only have we
soared.

We also dedicate this study to all the people who lost their jobs and to all who
lost their loved ones during this pandemic. To the front liners who fought with their lives
to save others during this battle. To our families who have encouraged us all the way
and whose encouragement has made sure that we give it all it takes to finish that which
we have started. Thank you. our love for you all can never be quantified. God bless you.
 

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 TABLE OF CONTENTS

ACKNOWLEDGEMENT …………………………………………………………………..….1
DEDICATION………………………………………………………………………………….. 2
CHAPTERS
CHAPTER 1 - THE PROBLEM AND ITS BACKGROUND………………………. 4 - 11
CHAPTER 2 - REVIEW OF RELATED LITERATURE AND STUDIES………...12 - 13
CHAPTER 3 - RESEARCH METHODOLOGY…………………………………...14 - 17
REFERENCES………………………………………………………………………………. 18
CURRICULUM VITAE………………………………………………………………......19 - 21

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 Chapter 1

THE PROBLEM AND ITS BACKGROUND

Introduction

The coronavirus disease 19 (COVID-19), which originated in Wuhan, China, is

a highly transmittable and pathogenic viral infection caused by severe acute respiratory
syndrome coronavirus 2 (SARS-CoV-2). On March 11, 2020, the World Health
Organization (WHO) characterized COVID-19 as a pandemic, pointing to over 3 million
cases and 207,973 deaths in 213 countries and territories.

The infection has not only become a public health crisis but has also affected
the global economy. Significant reductions in income, a rise in unemployment, and
disruptions in the transportation, service, and manufacturing industries are among the
consequences of the disease mitigation measures that have been implemented in many
countries. It has become clear that most governments in the world underestimated the
risks of rapid COVID-19 spread and were mostly reactive in their crisis response. As
disease outbreaks are not likely to disappear in the near future, proactive international
actions are required to not only save lives but also protect economic prosperity.

COVID-19 may be that a “wake-up” call for global leaders to intensify

cooperation on epidemic preparedness and provide the necessary financing for
international collective action. There has been ample information on the expected
economic and health costs of infectious disease outbreaks, but the world has failed to
adequately invest in preventive and preparedness measures to mitigate the risks of
large epidemics.

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Background of the Study

According to Borrell (2020) Covid-19 will reshape our world. We don’t know
yet when the crisis will be over. But we can be sure that by the time it does, our world
will look very different.

The only thing certain about the current global economic outlook is that it is
uncertain - whether it be when the pandemic will be ‘over’, or the comparative impact of
the immediate health crisis and subsequent economic dislocation.

But with uncertainty comes either paralysis or opportunity - getting a best

estimation of the timing and path to economic recovery is essential to making strategic
decisions for the future.

The global economy is engulfed in a health crisis. We have seen

governments around the world respond to the health and economic crisis in a swift, but
largely uncoordinated manner which is unsurprising given there is a no ‘one size fits all’
policy response to this situation.

At one end of the policy response spectrum has been an approach that has
sought to minimize the economic damage of COVID-19 by allowing the virus to go
through the population (relatively) unchecked, with the consequence of such an
approach being a poorer health outcome with stress on the health system. An
alternative approach has been to adopt a government-engineered deliberate slowdown
in the economy to manage the health risks. This approach has generally involved
closing borders, introducing social distancing and quarantine measures, and prohibiting
specific activities.

This particular study attempts to determine the effects of Economic Recession

due to Covid-19 Pandemic in the residences of Talisay City.

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Theoretical Background

Gills (2020) points out that humanity now faces a ‘triple conjunction’ of global
crises: climate change and ecological breakdown; a systemic crisis of global capitalism
and neoliberal economic globalisation; and the current global Coronavirus pandemic.

(Stewart et al., 2020) says that the UK government, concerned about its
expanding airline and tourist business, was advising that trips to Italy were generally
safe after the Italian lockdown started, and similarly for Spain, and on the 12th March
stated ‘It’s not the current position of the UK, based on medical and scientific advice,
that we should halt flights.

have to combine looking at minimising the health effects of the virus outbreak
and the economic impacts of this health crisis […] The business community here really
thinks that the Swedish government and the Swedish approach is more sensible than in
many other countries. (Savage, 2020)

Meanwhile, an article in the Wall Street Journal entitled ‘Coronavirus

vindicates capitalism’ tried to claim that the high Italian death rate was due to their
government’s health system and the America corporate capitalist model would respond
far better (Strassel, 2020).

These theories support the claim that the current pandemic that we are
facing right now has not only affected the health of the people but also affected the
economy.

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Conceptual Framework

The major concept of this study is focused on the effects of Economic

Recession due to Covid-19 Pandemic in the residences of Talisay City.

Figure 1; shows the relationship of input variables which contain the extent
of the Covid-19 pandemic-related factors. While in the process contains the Survey,
Data Gathering, Data Analysis, Data Interpretationand output variable contains the
analysis of Covid-19 Pandemic-related factors

Input Process Output

Covid-19
Pandemic-related Survey
factors Data Gathering An Analysis of Covid-19
Disruption of human Data Analysis Pandemic-related factors
activities Data Interpretation
Implementation of
lockdown
Unemployment

FIGURE 1. A conceptual paradigm shows the relationship of Global Economic

Recession in Covid-19 pandemic-related factors.

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Statement of the Problem

The study attempts to determine the effects of Economic Recession due to

Covid-19 Pandemic in the residences of Talisay City.

1. What is the extent of the covid - 19 related factors in terms of:

1.1 Disruption of human activities

1.2 Implementation of lockdown

1.3 Unemployment

2. On what level did the pandemic had affected the economy?

3. How greatly is an individual affected by the lockdowns?

4. How did the government handle the crisis?

5. Did the government take good care of those in need?

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Significance of the Study

The result of the study will merit the following:

Employees - They are the most affected in this recession because they worked in

industries that were impacted the most by the COVID-19 lockdown.

Researchers - This study would help future researchers considering tackling other

factors that might affect graduating students’ preferences for certain effects of economic

recession due to the pandemic.

Students - The result of the study would provide students with useful and reflective

insights on the effects of economic recession due to the pandemic.

Teachers - The findings of the study brief teachers of the effective economic recession

due to the pandemic in Talisay City will findings the unemployed due to the pandemic.

Parents - This study would inform parents concerning the economic recession.

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Scopes and Limitation

This study is limited only to residences of Talisay City who experienced the
3-month lockdown during the pandemic.

Determining the effects of Economic Recession due to Covid-19 Pandemic in

the residences of Talisay City was the focus of this research. The information needed
will be gathered using the checklist style research-made questionnaire. All information
and conclusions drawn from this study were obtained only to this particular group of
people.

Definition of Terms

SARS-CoV-2 - The virus that causes a respiratory disease called coronavirus disease
19 (COVID-19). SARS-CoV-2 is a member of a large family of viruses called
coronaviruses. These viruses can infect people and some animals. SARS-CoV-2 was
first known to infect people in 2019. The virus is thought to spread from person to
person through droplets released when an infected person coughs, sneezes, or talks.

WHO - is a specialized agency of the United Nations responsible for international public
health. The WHO Constitution, which establishes the agency's governing structure and
principles, states its main objective as "the attainment by all peoples of the highest
possible level of health."

Pandemic - is defined as “an epidemic occurring worldwide, or over a very wide area,
crossing international boundaries and usually affecting a large number of people”. The
classical definition includes nothing about population immunity, virology or disease
severity.

COVID-19 - affects different people in different ways. Most infected people will develop

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mild to moderate illness and recover without hospitalization.

Global Economy - refers to the interconnected worldwide economic activities that take
place between multiple countries. It refers to the exchange of goods and services
between different countries, and it has also helped countries to specialise in products
which they have a comparative advantage in.

Epidemic - is the rapid spread of disease to a large number of people in a given

population within a short period of time. For example, in meningococcal infections, an
attack rate in excess of 15 cases per 100,000 people for two consecutive weeks is
considered an epidemic.

Unemployment - occurs when a person who is actively searching for employment is

unable to find work. Unemployment is often used as a measure of the health of the
economy.

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 Chapter 2

REVIEW OF RELATED LITERATURE AND STUDIES

This chapter presents the review of related literature and studies of the
sub-topics of this research; Disruption of human activities, implementation of lockdown
and unemployment.

DISRUPTION OF HUMAN ACTIVITIES

Dr. Ding (2013) said that physical inactivity is recognised as a global pandemic
that not only leads to diseases and early deaths, but imposes a major burden to the
economy.

Physical inactivity costs the global economy INT67.8 billion in 2013, with Australia
footing a bill of more than AUD $805 million. At a global and individual country level
these figures are likely to be an underestimate of the real cost, because of the
conservative methodologies used by the team and lack of data in many countries.
Lawson (2013)

IMPLEMENTATION OF LOCKDOWN

Baldwin and de Mauro (2020) stated that a desire to flatten the curve is exactly
why governments around the world are taking what might seem like extreme steps. The
harsh reality is that we have no 21st century tools to fight COVID-19. There is no
vaccine or treatment. All we have is the methods that were used to control epidemics in
the early 20th century. Those, as we shall see, tend to be very economically disruptive.

Grigoli (2020) stated that lockdowns impose short-term costs but may lead to a
faster economic recovery as they lower infections and thus the extent of voluntary social
distancing.

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UNEMPLOYMENT

Blustein (2020) stated that the advent of this period of global unemployment
is connected causally and temporally to considerable loss of life and illness, which is
creating an intense level of grief and trauma for many people.

Joe Pinker (2020) stated that work has always been a domain where
individuals experience distress and marginalization. However, in the current pandemic
and into the unforeseeable future, this will only exponentially increase.

Allan (2020) stated that longitudinal studies can examine how precarious work
creates vulnerabilities in different domains, which in turn predict outcomes of the
COVID-19 pandemic, including unemployment and mental health.

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 Chapter 3
RESEARCH METHODOLOGY

This chapter presents the research design, research procedure, the subject of
the study, determination of sample, research instrument and statistical treatment of
data.

Research Design

This study determined the effects of Economic Recession due to Covid-19

Pandemic in the residences of Talisay City. The descriptive – correlation method was
used in this study.

In a descriptive method, Calmorin (1994) as cited by Bagayana (2006), wrote the

study focuses on the present condition. The purpose is to find new truth, which may
come in different forms such as increased quantity of knowledge, a new generalization,
or increased insights into factors, which are operating, the discovery of a new causal
relationship, a more accurate formulation of the problem to be solved and many others.

Since this study measured data that already exists and the number of respondents
is not large, the descriptive – correlation method of studies is best suited. As mentioned,
the student-related factors in terms of interest and study habits, and the teacher-related
factors in terms of personality traits, teaching skills and instructional materials were
generated using researcher – made questionnaires.

Subject of the Study

The respondents in this study were the fifty (50) randomly selected residents of
Talisay City.

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Research Instrument

The main tool used in this study was a researcher – made questionnaire
checklist. A questionnaire-checklist was constructed for the respondents. The
questionnaire – checklist consisted of the levels of how greatly the pandemic affected
the respondents’ lives.

Part 1 on the questionnaire – Respondent’s rate on how the pandemic affected then and
their family’s lives. These were given one set of five checkboxes each. The five
checkboxes were ranked as:

5 - greatly affected
4
3 - neutral
2
1 - not affected at all

Part 2 respondent’s rate to the local government’s action during the pandemic. Each
statement was given one set of five checkboxes. Again the five checkboxes were
ranked as:

5 - great
4
3 - neutral
2
1 - poor

Research Procedure

The original title proposed by the researcher was checked, revised and
rechecked by the researcher’s adviser to maintain conformity on the subject of

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research. The questionnaire-checklist that aims to draw out proper responses on the
objectives of this study was constructed. This questionnaire – checklist made by the
researcher and was presented to, analyzed and checked by the research adviser to
ensure the validity of responses it would elicit.

The researchers asked for the respondents’ permission before conducting the
survey.

Data gathered from answered questionnaires were checked, classified , tabulated

and analyzed according to the research design described in this chapter using Microsoft
Excel and prepared for final presentation to the experts of different fields of
specialization.

Statistical Treatment of Data

To interpret the date effectively, the researcher will employ the following statistical
treatment. The Percentage, Weighted Mean and T-test are the tools use to interpret
data.
Percentage
This will be used to determine the frequency counts and percentage distribution of
personal related variables of the respondents.

Formula:

% is the percentage
F is the Frequency
N is the total number of respondents
50 is a constant value

Average Weighted Mean

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This will be used to determine the assessment of the respondents with regards to their
personal profiles. Formula:

X is the weighted mean F is the frequency

x is the weight of each item N is the number of cases 50

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 REFERENCES

https://voxeu.org/article/economic-consequences-covid-19-multi-country-analysis
https://www.worldbank.org/en/news/feature/2020/06/08/the-global-economic-outl
ook-during-the-covid-19-pandemic-a-changed-world
https://www.investopedia.com/special-economic-impact-of-pandemics-4800597

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PERSONAL INFORMATION

Name: Rhea Angelyn A. Atta

Birthdate: October 21, 2001
Age: 19 years old
Civil Status: Single
Birth Place: Tinaogan, Bindoy, Neg. Or.
Mother: Ranilyn A. Atta
Occupation: Housewife
Father: Angelo Francis G. Atta
Occupation: Unemployed
Provincial Address: Tinaogan, Bindoy, Neg. Or.
City Address: Deca Homes 1, Dumlog, Talisay City, Cebu
Contact Number:09756535860
E-mail Address: rheaangelynatta@gmail.com

EDUCATIONAL BACKGROUND

ELEMENTARY
San Nicolas Elementary School
Cebu City, Cebu
S.Y. 2007-2010
Tinaogan Central School
Tinaogan, Bindoy, Neg. Or
S.Y. 2011 - 2015

JUNIOR HIGH SCHOOL

Demetrio L. Alviola National High School
Tinaogan, Bindoy, Neg. Or
S.Y. 2015 - 2019

SENIOR HIGH SCHOOL

Asian College of Technology-Bulacao Campus
Bulacao, Talisay City, Cebu
TVL Track – Information and Communications Technology
S.Y. 2019 – 2021

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PERSONAL INFORMATION

Name: Holy Christian G. Querobin

Birthdate: April 8, 2001
Age: 19 years old
Civil Status: Single
Birth Place: Cebu City
Mother: Rowena Querobin
Occupation: Housewife
Father: Joseph Nelson Querobin
Occupation: N/A
City Address: 20 Avocado St. Mambaling, Cebu City
Contact Number: 09373746551
E-mail Address: holychristian2018@gmail.com

EDUCATIONAL BACKGROUND

ELEMENTARY
Mambaling Elementary School
Tabada St., Cebu City
S.Y. 2008-2015

JUNIOR HIGH SCHOOL

Don Vicente Rama Memorial National High School
Macopa St. Basak, Cebu City
S.Y. 2015-2019

SENIOR HIGH SCHOOL

Asian College of Technology-Bulacao Campus
Bulacao, Talisay City, Cebu
TVL-ICT Computer Programming
S.Y. 2019-2021

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PERSONAL INFORMATION

Name:John Paul Canete

Birthdate: September 20, 2002
Age: 18 years old
Civil Status: Single
Birth Place: Toledo City
Mother: Vevira Canete
Occupation: Housewife
Father: Leonardo Canete
Occupation: N/A
City Address: Bulacao Riverside, Cebu City
Contact Number: 09373746551
E-mail Address: canetejohn890@gmail.com

EDUCATIONAL BACKGROUND

ELEMENTARY
Bulacao Community School
Bulacao, Cebu City
S.Y. 2008-2015

JUNIOR HIGH SCHOOL

Bulacao Community High School
Bulacao, Cebu City
S.Y. 2015-2019

SENIOR HIGH SCHOOL

Asian College of Technology-Bulacao Campus
Bulacao, Talisay City, Cebu
TVL-ICT Computer Programming
S.Y. 2019-2021

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