AGUSAN COLLEGES, INC.

Butuan City

JOURNAL NO. 3

Name: CRESTINE JOY M. ALAO Date: FEB.20,2022

Another meeting, another lessoned unlocked. In this meeting, all I have

to do is listened and cooperate to the different reporters who are assigned to
report.
A tax is an important financial source for the country. It plays an
important role in case of economic crisis. It is a compulsory amount of money
that collected from individual and business based on their income and returns,
to attain government goals. Government imposes charges on their citizens and
to the different businesses as a means of raising revenue, which is then used
to meet their budgetary demands. In these modern economies taxes are the
most important sources of governmental revenue. 
My take away learning in the third group of reporters is all about how
importance is taxation to the nations. I learned that taxes are mandatory
contribution collected by governments and as an individual I have the
responsibility to pay the tax because I am one of the citizens in these nations.
Taxes has the great help to the government that people can contribute for the
government. Without taxes, governments would be unable to meet the
demands of their societies. Taxes are crucial because governments collect this
money and use it to finance social projects. This also includes financing
government and public projects as well as making the business environment
in the country for conducive for economic growth. I realized also in this
meeting, that taxes are vital in the society, health, education, governance and
to the other important sectors such as; infrastructures development,
transportation and housing. Taxes helps raises the standard of living of a
country. I must also bear in minds that as an individual I must pay the tax,
because if don’t pay taxes governments unable to meet the demands of the
society or country. One of the beneficiaries of the tax I /we pay to the
government is for education. Education is one of the most deserving recipients
of tax money. Governments put a lot of importance in development of human
capital and education is central in this development. Money from taxes is
channeled to funding, furnishing, and maintaining the public education
system in order to improve the educational system of the country.
In the new set of reporters, I learned from them what are the role of
economy in education.
As I know that, Education in every sense is one of the fundamental
factors of development. No country can achieve sustainable economic
development without substantial investment in human capital. Education
enriches people’s understanding of themselves and world. It improves the
quality of their lives and leads to broad social benefits to individuals and
society. Education raises people’s productivity and creativity and promotes
entrepreneurship and technological advances. In addition, it plays a very
crucial role in securing economic and social progress and improving income
distribution.
Thus, education is for all, every citizen has the right to be educated.
Because, education is a foundation of economic development, and serves as
the groundwork on which much of our economic and social wellbeing is built.
It is the key to increasing economic efficiency and social consistency.
Moreover, we must Ensure that all citizens are educated and numerate, that
may possess a wide range of problem-solving skills beyond the basic level. I
/we must bear in minds that there is no country has achieved constant
economic development without considerable investment in human capital. In
addition, Education is indispensable to economic development. No economic
development is possible without good education. A balanced education system
promotes not only economic development, but productivity, and generates
individual income per capita.
 AGUSAN COLLEGES, INC.
Butuan City

JOURNAL NO. 4

“Learning is a constant process of discovery- a process without end.”

Bruce Lee

Today is the fourth day of meeting. Additional topic to learned and

unlocked. This day, I will not only listen but I will also do the reporting that
was assigned to me.

The things that I learned at this meeting is all about what are the school
sources of revenues and how to measure the economy of the country.

As I/we know that economics provides a framework for understanding

the actions and decisions of individuals, businesses and governments. 
Economics gives us the knowledge on how to build a good and progressive
nations. So, the big question is? How do we measure the economy of our
country? How do we know if the country is progressive or not?

Based from the reporter, Economy of a country is measure by the

country’s Gross Domestic Product in one year. Thru this computation I/we
can say that our economy is progressive or not. I /we can know if the
country’s is growing well, if their goods and services and the market values of
goods and services produced in that specific year is high, so for that the
economic growth is progressive. But, in this time of pandemic our economy is
being affected. Because many establishments and business are closed. By
this, our products and services went down. Our economy is the process of
recovering from its downfall. I have learned also that, in computing economy
there are two approaches that I can use such as the; expenditure and the
income approach. By those methods of measuring economy, I /we can foretell
if our economy is doing well.

Another lessons that I learned in this day is all about the sources of
government income for education. I found out that there are five sources of
income such as; From the Central, Local Bodies Funds, Private, Grant-aid and
from the state.

Another take away learning I learned is the importance of teacher

training. And how government funded for this training. One of the primarily
responsibilities of the government is to support the trainings of teachers in
order to help the teacher to become skillful and knowledgeable to his field of
works. Teacher plays a vital role in the society; teacher is the backbone of the
society because they help in shaping the future of the nation which is the
learner. But how can teacher provide good education to the learners or how
can a teacher produce a globally competitive learner if he/she don’t have the
proper training and a knowledge? For this, the government funded the
trainings for teacher to improve teachers’ skills and knowledge and to gain
deeper understanding and to know how to become an effective teacher and a
good manager in his/her respective classroom. I learned also that Education
really affects the economic growth of a country. In order to help our country’s
economy, we need to improve human capital in order for us to produce a
globally competitive learner and in order for the student to land a good job.

In general, education is as a critical component of a country’s human

capital and increases the efficiency of each individual worker and helps
economies to move up the value chain beyond manual tasks or simple
production processes. Because I know that thru education people understand
the world. Also, they can improve the quality of their lives that can leads to
broad social benefits to individuals and can contribute to the economic growth
of our country.