SANTO TOMAS COLLEGE OF AGRICULTURE, SCIENCES BACHELOR OF SCIENCE IN AGRIBUSINESS

AND TECHNOLOGY

GOAL
The program commits to provide the
graduates the following:
1. Graduates convey ideas and
information efficiently;
2. Graduates adhere professional
ethics and standards; and
3. Graduates strengthen the problem-
solving and decision-making
abilities.

Course syllabus in IC 110 – GENERAL ECONOMICS

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BACHELOR Of SCIENCE IN AGRIBUSINESS
 Republic of the Philippines
Region XI
Commission on Higher Education
SANTO TOMAS COLLEGE OF AGRICULTURE, SCIENCES AND TECHNOLOGY
Feeder Road 4, Brgy. Tibal-og, Santo Tomas, Davao del Norte, 8112, Philippines

COURSE SYLLABUS IN IC 110 – GENERAL ECONOMICS

VISION
The Bachelor of Science in Agribusiness (BSAB)
VISION
INSTITUTIONAL GOALS of Santo Tomas College of Agriculture, Sciences
The Santo Tomas College of Agriculture,
Sciences and Technology (STCAST) as a 1. Provide a quality, industry-needed and and Technology (STCAST) envisions in providing
premier local institution in Southeast Asia. tailor-fit educational program graduates who are equipped with knowledge,
2. Espousing and Educational and cultural skills, attitude and values to adequately meet the
MISSION excellence growing demands of human power in agriculture
1. Infuse wholesome values (Core 3. Instituting sufficient human and financial through Agribusiness industry.
Values) to the teaching and non- resources and compliant facilities
teaching staff of STCAST. 4. Institutionalizing research culture across
MISSION
2. Equip graduates with knowledge, disciplines The program aims to provide the students the
skills and attitude towards global 5. Establish collaboration among following:
competitiveness. stakeholders and members where 1. Improve one’s communication skills and
respect, values, support are paramount strategies;
6. Implement programs for community 2. Develop entrepreneurial attitudes, skills
VALUES improvement and development. and professionalism work ethics,
Efficiency, Excellence, acquisition of knowledge; and
Perseverance, Humaneness, 3. Enhance the decision-making ability to get
Integrity
the most from experience.

Course syllabus in IC 110 – GENERAL ECONOMICS

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BACHELOR Of SCIENCE IN AGRIBUSINESS
 I. COURSE INFORMATION

Course Code : IC 110 Course Title : General Economics

Credit Units : 3 Number of Hours : 54 hours
Pre-requisite : None Academic Year/Semester: 2nd Semester/2020-2021
Instructor : Genner A. Raz

COURSE DESCRIPTION

This course deals with the behavior and performance of the economy as a whole as well as the roles and functions of the market, the state, households and firms. It will
also discuss the relations or interactions of the said agents. The course shall use basic macro and microeconomic concepts and methodologies in its discussions. At the
macro level, the main topics will be the national income (output), employment, agrarian reform, government fiscal policy, general price level, trade and economic growth and
development. At the micro level, the main focus will be on supply and demand, elasticity and market structures and inefficiency.

COURSE OUTCOMES
On the completion of the course, student is expected to be able to do the following:
 Introduce the students to key concepts in economics;
 Familiarize the students with economic analyses that integrates economic theories and concepts with facts about the Philippine economy; and
 Familiarize the students with pressing economic issues in the Philippines and the rest of the world.

Course Outline and Timeframe

SUGGESTED TEACHING
WEEK TOPICS
Getting to know each other
STCAST VMG & PROGRAM VMG
Course Orientation
1 - Course syllabus
- Class Policies
I. Introduction to Economics
Lesson 1: Why study Economics
Lesson 2: Definition of Economics and Other
Key Concepts
Lesson 3: Relationship of Economics to
Other Sciences
Lesson 4: Divisions of Economics
Lesson 5: The Methodology of economics
I. Introduction to Economics
Lesson 6: The Fundamental or Basic
Economic Problems of Every Society
2 Lesson 7: Common Economic Goals of
Countries
Lesson 8: Types of Economic System
Lesson 9: Production Possibilities Frontier
(PPF)
II. Market Analysis: Demand,
Supply, and Market Equilibrium
3
INTENDED LEARNING OUTCOMES LEARNING ACTIVITIES ASSESSMENT TASKS
 Orient students on the STCAST and Program’s -Orientation -Self Introduction
vision, mission and goal, course content, -Oral Recitation -Graded Oral Recitation
-Online Discussion -Learning Assessment
grading system and class policies
 Explain the importance, definitions and divisions
of economics
 Define the basic economic terms
 Explain the relationship of economics to other
sciences
 Characterize the division of Economics
 Explain the methodology of economics
Online Discussion Learning Assessment
 Identify the basic economic problems
 Describe the common economic goals of
countries
 Characterize the types of economic system
 Define the concept of demand and supply Online Discussion Learning Assessment
 Explain the different factors that influence the
demand and supply
 Lesson 1: The Concept of Demand
Lesson 2: The Concept of Supply
Lesson 3: Market Equilibrium
Lesson 4: Changes in Market Prices
Lesson 5: Demand and Supply Elasticity
Concepts
Lesson 6: Market Structures
III. Theory of the Firm: Production,
Costs and Profits
Lesson 1: The Production Concept
4 Lesson 2: The Production Function
Lesson 3: Cost of Production
Lesson 4: Profit Maximization/Loss
Minimization: Case of Perfect Competition
5 MIDTERM EXAMINATION
IV. National Income Accounting
Lesson 1: Importance of National Income
6 Accounting
Lesson 2: Gross National Product (GNP) and
Gross Domestic Product (GDP): Two
Indicators of Aggregate Output/National
Income
Lesson 3: Nominal versus Real GNP
Lesson 4: Real GNP per capita or per capita
GNP at constant prices
Lesson 5: Limitations/Shortcomings of GNP
 Illustrate the market equilibrium condition
 Explain how changes in demand and supply
about corresponding changes in market prices
 Differentiate the types of demand and supply
elasticity
 Apply the concepts of demand and supply in
different market structures.
 Explain the production, cost and profit functions Online Discussion Learning Assessment
 Explain the concepts of short-run, long-run and
the law of diminishing marginal productivity
 Differentiate fixed and variable inputs and costs
 Illustrate how the output of production changes
with changes in the amount of the variable input
at each stage in production
 State the conditions for profit maximization and
loss minimization principles
 Explain the concept of returns to scale
 Analyze the economic aspect of a business
 Explain the importance of national income Online Discussion Learning Assessment
accounting
 Define the basic national income accounts
 Explain the importance of national income
measurement
 Describe the different measures of output and
income
 Distinguish the difference between nominal and
real GNP
 Compute the GNP per capita
 Explain the conceptual problems and limitations
of the GNP as a measure of economic growth
 Calculate GNP and other relevant economic

V. Money, Prices and Banking
Lesson 1: Money and its Role
Lesson 2: Price and Inflation
Lesson 3: Money and the Central Bank
7 Lesson 4: The Money Creation Process
Lesson 5: Policies Used by the Government
to Regulate the Money Supply
8-9 VI. Introduction to International
Economics
Lesson 1: International Economics and its
Major Fields
Lesson 2: International Economic
Issues/Problems
Lesson 3: Consumer and Producers’ Surplus
9 FINAL
Required Readings
Principles of Economics, 7th edition / N. Gregory Mankiw, N.
Business Economics / Cruz, Milagros / 2017
Applied Economics . Dinio, Rosemary / 2017
Introductory Microeconomics, 4th edition / Pagoso, Cristobal / 2014
Suggested Readings
Applied Economics / Leano, Roman / 2016
Course Requirements
accounts from a given set of data
 Determine the role and importance of money Online Discussion Learning Assessment
 Identify the types of money
 Explain the role prices
 Analyze the role of central banks
 Explain the money creation process
 Identify policies that regulates money supply
 Determine the meaning and scope of Online discussion Learning Assessment
international economics
 Explain the two sub-fields and areas of
concerns of international economics and their
relevance to the domestic economy
 Analyze the current international economic
issues/problems
 Illustrate consumer and producers’ surplus
EXAMINATION
Classroom Policies
S – Self-Discipline Students
T – Turn-off gadgets during classes
C – Come to school on time
A – Abide policies and regulations prescribe by the college
S – Serve the school and community through proper disposal of garbage
T – Temperate in words and actions in and out of the class
Grading System
A - Attendance A – Examination - 40%
B - Class Participation B - Class Participation - 20%
C - Assignments and Quizzes C - Assignments and Quizzes - 30%
D - Periodical Examination D – Projects, Deportment, and Attendance - 10%
100%
Consultation Hours
8:00 AM – 5:00 PM MONDAY - gennerraz24@gmail.com - BSAB Faculty Room

Course Prepared by Recommending Approval Approved

IC110 – GENERAL GENNER A. RAZ LARRY L REGIDOR, MSA MARK ANGELO I. TABAJONDA, DBM
ECONOMICS BSAB – Instructor BSAB Program Head OIC College President