CAE 7: Managerial Economics

Module 1

Name: Villaroman, Ron Vincent B. Date: November 3,2021

Course/Year/Section: BSA 2 – 1 Professor: Prof. Romeo Mangahas

1. Explain how Economic Development is different from Economic Growth.

 Economic development is the future change in our community from which we

can gain. Assume we are in the midst of globalization. Many unexpected
situations occur from time to time that are beneficial to our lives and provide us
with new knowledge, such as what we are learning now in our educational
system. I went to the technical department. However, in ordinary life, many
occupations will be lost since they will be replaced by robots that can perform
tasks that humans can. From the human resources industry to the medical field.

• A country's production results in economic growth. Its status is updated on a

regular basis to determine whether it needs to change or stay to a product cycle.
Time is gold catchphrases abounds when it comes to speaking. It is critical to
prioritize quality; otherwise, there may be an issue that affects everyone.

2. Identify the economic development of the Philippine using the following

measure:

a. GNP

 In June 2021, the Philippines' GNP was reported at 102.277 USD billion,
according to CEIC Data.
 This is an increase over the previous month's figure of 92.765 USD billion.
 Philippines Gross National Product (GNP) data is updated quarterly, with 162
observations from Mar 1981 to Jun 2021, averaging 23.874 USD bn.
 The data peaked at 117.150 USD billion in December 2019 and peaked at 6.715
USD billion in September 1985.

https://www.ceicdata.com/en/indicator/philippines/gross-national-product

b. GDP

 The Philippine Gross Domestic Product (GDP) increased by 11.8 percent in the
second quarter of 2021, according to the Philippine Statistics Authority (PSA).
This was the biggest growth rate since the fourth quarter of 1988, when it was
12.0%. Manufacturing, with a 22.3 percent gain, Construction, with a 25.7
percent increase, and Wholesale and retail commerce; repair of motor vehicles
 and motorcycles, with a 5.4 percent increase, were the primary contributors to
the growth.
• Industry and Services grew by 20.8 percent and 9.6 percent, respectively, among the
key economic sectors. Agriculture, forestry, and fishing, on the other hand, shrank by
0.1 percent in the second quarter.

https://psa.gov.ph/national-accounts#:~:text=GDP%20posted%20double%20digit
%20growth,since%20fourth%20quarter%20of%201988&text=The%20Philippine
%20Gross%20Domestic%20Product,a%20growth%20of%2012.0%20percent.

c. HDI

 According to UNITED NATIONS DEVELOPMENT PROGRAMME, the following

information are based on the latest year.The Philippines scored 0.718 on the
Human Development Index (HDI), according to the UNDP's Human Development
Report 2020, titled "The Next Frontier: Human Development and the
Anthropocene." The study's grading scale has 1 as the highest score.Indonesia
and Bolivia were also tied for 107th position. The Philippine score a year ago was
0.711, enough for 111th place. Life expectancy, expected years of schooling,
mean years of schooling, and standard of living, as measured by per capita gross
national income, are the three fundamental characteristics of human
development measured by the HDI. For the Philippines, the projections were
71.2 years of life expectancy and 13.1 years of projected schooling, 9.4 years of
schooling on average, and a per citizen GNI of $9,778. Countries with a score of
0.800 are classified as "very high" in terms of human development, those with a
score of 0.700-0.799 are classified as "high," and those with a score of 0.550-
0.699 are classified as "medium." Countries with a score of less than 0.550 are
classified as having a low level of human development. Singapore was the
Southeast Asian leader, tied for 11th place with a score of 0.938. Brunei ranked
47th with a score of 0.838, followed by Malaysia, which was tied for 62nd with a
score of 0.810, and Thailand, which was tied for 79th with a score of 0.777.
Vietnam tied for 117th position with a score of 0.704. Norway topped the
rankings with a score of 0.957, while Ireland and Switzerland tied for second
place with a score of 0.955.