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D. COURSE LEARNING OUTCOMES

For alignment to the Core Curriculum Learning Outcomes, see Annex.

SYLLABUS FOR UNDERGRADUATE COURSES
MAJOR, CORE CURRICULUM and ELECTIVES
By the end of this course, students should be able to:
A. COURSE INFORMATION
COMPETENCE COURSE LEARNING OUTCOMES
[KNOWLEDGE. SKILLS. ATTITUDE]
COURSE NUMBER ECON 110 NO. OF 3
UNITS
1. Know, understand and Knowledge
COURSE TITLE Principles of Economics
analyze economic topics CLO 1: Define all key concepts and principles covered in this course.*
and issues using basic CLO 2: Identify the methodology used in the study of economics.
PREREQUISITE/S None economic concepts and CLO 3: Apply demand and supply models to explain real-world events including
methodologies learned in the effects of government policies.
DEPARTMENT/ Economics SCHOOL Social Sciences this course. CLO 4: Compare and contrast the different market structures.
PROGRAM CLO 5: Identify conditions leading to market failures.
CLO 6: Evaluate Philippine macroeconomic fundamentals and determine their
SCHOOL YEAR 2023-24 SEMESTER 2nd sem policy implications.
CLO 7: Analyze how monetary, fiscal and trade policies affect households and
firms.
INSTRUCTOR/S Cristina M. Bautista, Ph.D.
Skills
VENUE Room K-302 SECTION N SCHEDULE N: 2:00-3:30 T-F CLO 8: Graph demand and supply curves in different market situations and
(Sec N & O1) O1 O1: 3:30-5:00 T-F compute equilibrium price and quantity values.
CLO 9: Compute and interpret elasticity coefficients.
CLO 10: Compute and interpret macroeconomic indicators.
B. COURSE DESCRIPTION
2. Critically assess a Knowledge
An introduction to the basic concepts and methods in microeconomics and macroeconomics. Topics newspaper article or CLO 1, 3, 5, 6, 7
include the methodology of economics, supply and demand analysis, modeling the behavior of other layman’s writings
households and firms, types of markets, the role of the government, and the performance of the about economics. Attitude
economy as a whole. CLO 11: Express concern on the effects of market failures and share examples
on how these can be addressed.
CLO 12: Advocate efficiency in the use of resources in everyday activities.
CLO 13: Show continual desire to help alleviate some of the socio-economic
WHERE IS THE COURSE SITUATED problems in the country.
WITHIN THE FORMATION STAGES
IN THE FRAMEWORK OF THE LOYOLA SCHOOLS CURRICULA 3. Be able to have a Knowledge
reasonably intelligent CLO 1, 3, 5, 6, 7
FOUNDATIONS: Exploring and Equipping the Self idea on how a
Attitude
government can solve
CLO 11, 12, 13
ROOTEDNESS: Investigating and Knowing the World economic problems like
√
recession,
DEEPENING: Defining the Self in the World unemployment, inflation,
financial crisis,
bankruptcies, and assess
LEADERSHIP: Engaging and Transforming the World
the strengths and
weaknesses of an
economic policy of the
C. PROGRAM LEARNING OUTCOMES
government.
For alignment to the Program Learning Outcomes, see Annex.
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4. Provide concrete Knowledge Module 4 - Market Failures CLO 5, 4.5

actions that supplements
the basic theories of
economics to help
alleviate poverty and
other economic/ social
problems.
Note: * A list of key concepts and principles will be put in Canvas.
CLO 1, 3, 5, 6, 7 11, 12,
• Abuse of market power: Monopoly and oligopoly
13
Attitude • Externalities: Failure to consider external costs and
CLO 11, 12, 13 external benefits
• Public goods and common resources: Problem of free
riders and the tragedy of the commons
• Asymmetric information: Problem of hidden actions
(moral hazard) and hidden characteristics (adverse
selection)

E. COURSE OUTLINE and LEARNING HOURS

Mod 1, 2, 3, 4 - Long Test 1 (onsite): Before Holy Week 1.5
Course Outline CLOs Estimated contact
Small group research and oral reporting 4.5
(class) hours & other
learning hours
Module 5 – Macroeconomics: The Aggregate Variables CLO 1, 6
Module 0 – Preliminaries 1.5 6, 7, 10,
• Business cycles and socioeconomic well-being 12, 13
• Aggregate output, expenditure, and income
Module 1 – Introduction: Economics as a Discipline CLO 1, 3 • Unemployment and underemployment
2, 12 • Inflation
• Definition, historical background, and continuing
relevance of Economics
• What is and what ought to be: Theory, data and policy Module 6 – Macroeconomic Policies CLO 7, 6
analysis
• Basic questions: What, how and for whom to produce
12, 13
vis-à-vis economic goals of efficiency, equity and • Money and banking: Money, savings, role of banks
sustainability • Central bank and monetary policies: Money supply and
• Resource constraints faced by individuals, households, inflation, interest rate
firms and governments • Fiscal policies: Taxation, government spending, deficit
• Measuring benefits and costs: Total, average and management
marginal

Module 7 – International Trade CLO 1, 6

Module 2 – Market, Government and Efficiency
• Modelling demand and supply in a competitive market
• Market adjustments: Factors affecting demand and
supply
• Government price intervention: Price ceiling, price floor,
price support, taxation (indirect taxes)
• Measuring market efficiency: Consumer surplus and
producer surplus
• Measuring responsiveness of buyers and sellers:
Elasticity
CLO 1, 3, 6 7, 12, 13
8, 9, • Efficiency in trade: Theory of comparative advantage
(application of opportunity cost)
• Trade policy arguments: Free trade vs. protectionism
• Factors affecting exports and imports
• Instruments of trade policies: Tariff and non-tariff
measures
• Regional integration
Mod 5, 6, 7 - Long Test 2 (onsite): Final exam week 1.5

Estimated contact (class) hours 45

Module 3 – Market Structures and Market Power CLO 1, 4 4.5 Estimated learning hours outside the classroom 45
(assignments, exercises, readings, Canvas activities)
• Perfectly competitive market
• Monopoly Total hours = 90
• Oligopoly
• Monopolistic competition Note: Specific schedules will be put in Canvas, guided by the Academic Calendar released by the Office of the
University Registrar.

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paper, the write-up is of information about the It contains most but The content did not
very high quality webinar/research: who, not all the meet most of the
F. ASSESSMENTS AND RUBRICS reflecting the student’s what, when, where, and necessary basic expectations.
effort to discuss why. information.
substantive and It explains two or three The paper missed
interesting information. significant messages It simply lists down most of the basic
ASSESSMENT TASKS ASSESSMENT CLOs (even though there are findings or key information and
It captures and highlights more than three). messages like a discussed very
WEIGHT the overall value of the plain summary minimal significant
discussion. It focuses on the without much findings.
Long Test 1 (Module 1, 2, 3, 4) 30 % CLO 1-5, 8, 9 It clearly elaborates the speaker’s/author’s consideration of the
salient and interesting viewpoint and refrains nature of the The student did not
Schedule: Midterm – before the Holy Week messages of the from reacting or showing requirement and its follow most of the
speaker/s by providing judgement. It quotes the supposed instructions. For
Long Test 2 (Module 5, 6, 7) 30 % CLO 1, 6, 7, 10 supportive details. speaker/ author for readership. example, it looks
Schedule: Final exams week emphasis. more like a
It explicitly mentions the reaction/ reflection
relevance of the topic to paper rather than a
Short quizzes 15 % CLO 1 – 13
students and/or news or feature
University community. article.
Assignment 1 (Individual): Writing a news/feature article on 10 % CLO 1 – 13
It says something about
an economics-related webinar or a Filipino-authored the organizer or .
economic paper. publisher.
Form, style Exceeded expectations. Expectations: The paper does not Minimum
and In addition to the meet all the compliance.
Due: May be submitted any time during the semester, on or organization expected form, style and The paper demonstrates expectations but
before May 11. (How it is organization of the paper, concise and disciplined satisfies the The output needs
presented) the flow of ideas and the writing. essentials. substantial editing
Assignment 2 (Small groups): Research and oral report 15 % CLO 3, 4, 5, 8, language used reflect the to meet the
11 student’s extra It has an organized flow, Generally organized expectation.
effort to keep the reader taking into consideration but the flow and
Due: Weekly reporting starts after LT1 interested in the story. the recommended writing structure can be The lay-out and
. guidelines for the further polished. form is too plain. It
It has a semblance of structure. does not show any
Total 100 % professional lay-out, with The paper needs creative effort.
appropriately chosen It has a lead statement some more editing
image or design, that that provides the most of grammatical and,
RUBRICS shows just the right important message, typing errors.
creativity without followed by supporting
Note: There are no specific rubrics for the long tests and short quizzes These are graded based on overdoing it. messages. There is some effort
to be creative.
whether the answers (e.g., computation, graph, or concept) are correct or not, based on theory and It has minimal or no typo,
applications. spelling, grammatical
errors.
Assignment 1: Writing a news or feature article on an economics-related webinar or research study Everything fits in one
(journal, discussion or working paper, policy brief, or book chapter). page.
Objectives:
There is an appropriate
• To give the student an opportunity to listen to experts, or read papers by experts, image or design to attract
from the academe, business, and government sectors as they discuss applications of interest of readers.
concepts and principles related to microeconomics and development. Note: There are in-between grades, B+ (91) and C+ (81) . No submission means F = 0.
• To understand what economists do.
Assignment 2: Group Research
• To practice how to communicate, in written form, salient information from an
Objectives:
economic research for a broader audience.
• To experience how to do applied economic research.
• To communicate findings from an economic research through oral presentation.
RUBRICS FOR ECONOMIC NEWS WRITING
CRITERIA RATING: RATING RATING RATING
Excellent = A (100) Above satisfactory = B Satisfactory = C Pass = D (69) RUBRICS FOR THE RESEARCH PRESENTATION
(86) (76) CRITERIA RATING: RATING RATING RATING
Content (What Exceeded expectations. Expectations: The paper does not Minimum Excellent = A Above satisfactory = B Satisfactory = C (76) Pass = D (69)
it says) meet all the compliance. (100) (86)
In addition to the The paper contains all expected content. Content: Exceeded Expectations: Minimum
expected content of the the necessary basic Theory and expectations. compliance.

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application
Formative (non-graded) and summative (graded) tests on concepts and CLO 1 – 10
The presentation The presentation reflected The presentation The presentation
reflected high very good research reflected fairly needed more applications
quality and supported by interesting satisfactory research content. The
extensive and relevant data from effort. discussion needed Individual and small group problem sets: Graphing, analysis of graphs, CLO 1 – 10
research done. credible publications/ It is supported by data. more depth. computation (graded and non-graded]
The presenters websites. Research was very
demonstrated The presenters explained The presenters limited. Individual essay: Choice of (1) reading a Filipino-authored paper or (2) CLO 1 – 13
very clear clearly and correctly explained some watching an Economics-related webinar and writing a news/feature
understanding of relevant concepts and portions adequately, The presenters article about the paper/webinar.
economic principles. They used others not as well. discussed some
concepts and authentic examples, They used examples concepts and
Small group research and report: Factors affecting the demand and CLO 3, 4, 5, 8. 11
principles evident contextualized in the but with limited principles, without
in the way these Philippines. relevance. adequately and supply of a particular good, service or resource
were explained clearly explaining
and in the clarity The presentation also The presentation did these
of examples used. provided an opportunity for not provide an H. REQUIRED READINGS
question-and-answer. opportunity for
question-and-answer.
Concern Exceeded Expectations: Minimum Steven A. Greenlaw, David Shapiro and Daniel MacDonald (Senior Contributing Authors), et al.
for society expectations. The presentation raised compliance. 2022. Principles of Economics. Houston: OpenStax, Rice University. Produced by OpenStax under
The presentation awareness to a
The presentation raised awareness to a problematic socio- The presentation
Creative Commons Attribution 4.0 International License. It is an open-source textbook. Publish date:
examined current problematic socio- economic condition. It hardly mentioned Dec 14, 2022 (with Web version updates)
government and economic condition. showed indirect concern and https://openstax.org/details/books/principles-economics-3e
private sector It clearly showed concern concern to the issues sensitivity to others,
efforts to address and sensitivity to issues that affect the well- particularly the Selected chapters, or sections thereof, for each module will be put in Canvas.
a socioeconomic that affect the well-being of being of the marginalized sectors.
problem, and households and small marginalized sectors. It did not mention any I. SUGGESTED/ SUPPLEMENTARY READINGS
suggested firms/producers, especially It discussed at least recommended action
concrete ways to the marginalized sectors. one recommendation to needed to address a
further It covered a few address a socioeconomic You may also use standard textbooks, the most common of which are authored by (1) Samuelson
Improve the recommendations for socioeconomic problem. and Nordhaus, (2) N. Gregory Mankiw, and (3) Case, Fair and Oster. You may use any of the recent
response. government or private problem.
sector to address a editions (last five years). Be guided by the list of key concepts and principles indicated for each
problem. module.
Delivery of the Exceeded Expectations: Minimum
presentation expectations. The presentation compliance.
The presentation was was delivered in a fairly Recommended sources for Assignment 1:
High quality delivered in an engaging satisfactory way, but The presentation
presentation. and interesting way. with limited effort to lacked the expected Publications, policy brief, discussion/ working papers in Ateneo Center for Economic Research and
The presentation It was well-organized and make it interesting. diligence in Development (ACERD) in the Economics Department http://www.ateneo.edu/ls/soss/economics
reflected the flowed smoothly. It was fairly organized. preparation.
commitment of It was supported with It could have been
each member to suitable, clear, creative improved with added The presenters Publications, policy brief, discussion/ working papers in Philippine Institute for Development
excel in delivering visuals. creativity. delivered their parts Studies (PIDS) https://www.pids.gov.ph/
his/her part, It was within the time limit. with little mastery,
leading to a fully The presenters confidence and Selected webinars related to microeconomics organized by ACERD, PIDS, Institute of Philippine
engaging tele- The presenters showed proper proper disposition.
radio or mini- connected well with the disposition and had For example, most Culture, The World Bank, Philippine Economic Society, Asian Development Bank, Asian Institute
webinar viewers/ listeners. They some connection with read their part of Management, UN Sustainable Development Networks Solutions, among others. Invitations to
experience for the showed proper disposition the viewers/ listeners, continuously, without these webinars will regularly be forwarded to students.
viewers/listeners. and confidence in their although not sustained. trying to connect with
It showed the roles. the others, such as
students’ proper eye contact. Specific articles on current issues to be indicated in the Canvas modules will usually come from:
creativity.
Note: There are in-between grades, B+ (91) and C+ (81) . No submission means F = 0. The Economist magazine.

G. TEACHING and LEARNING METHODS The “Eaglewatch” column in Business Mirror. Written by Economics faculty members of Ateneo de
Manila University

TEACHING & LEARNING METHODS and ACTIVITIES CLOs

Useful websites: Philippine Competition Commission, Philippine Statistics Authority, National
Lecture-discussion on theory and applications CLO 1 – 13
Economic and Development Authority, Bangko Sentral ng Pilipinas, Tariff Commission
Supplemented by video-watch in class or in Canvas

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L. CONSULTATION HOURS
J. GRADING SYSTEM

Grade range Letter Short description: NAME OF FACULTY EMAIL DAY/S TIME
mark Student Handbook 2022, p.21, and LS Undergraduate Bulletin of Information T-F 1:00 – 1:30/ 5:00 – 5:30
(2020), pp. 77-78
https://www.ateneo.edu/ls/bulletin-of-information W: 9:00 – 11:00
Cristina M. Bautista cbautista@ateneo.edu Tues, Wed, Fri Or by appointment
92 – 100 A Excellent: High degree of academic performance
87 – below 92 B+ Very good
82 – below 87 B Good: Above satisfactory performance
77 – below 82 C+ More than satisfactory
v.5 August 2023
70 – below 77 C Satisfactory fulfillment of the requirements
Strategy and Quality Management Office (SQMO)
60 – below 70 D Passing: Fulfillment of the minimum requirements
Below 60 F Failure: Non-fulfillment of the minimum requirements

K. CLASS POLICIES

Standard University and Loyola Schools Policies

1. Undergraduate Academic Policies, Second Semester SY 2023-2024
https://drive.google.com/file/d/1Vdsj32ak18vaen_xSQBVE0tfFt6UEX-q/view

2. Student Handbook
Undergraduate Student Handbook, 2023 edition

3. Gender Policy and Safe Spaces. The Ateneo de Manila University does not discriminate based
on sex, gender, marital or parental status, sexual orientation, or gender identity or expression.
The course is a safe space and will adhere to school and national policies. See Gender Policy
and Code of Decorum and Administrative Rules on Sexual Harassment, Other Forms of Sexual
Misconduct, and Inappropriate Behavior.

Specific Class Policies

1. Be honest. Be patient. Be helpful.
2. Our class meetings are primarily onsite, with possibility of utilizing online synchronous Zoom
meetings or asynchronous work for reasonable circumstances. Schedules will be posted on
Canvas at least one week in advance unless there are unforeseen conditions.
3. Use of generative artificial intelligence (AI):
2.1 My default policy is not to encourage the use of generative AI.
2.2 The graded assessments are designed in such a way that the students will most likely find no
need to resort to this tool on top of the standard references. If ever deemed helpful, the
students must honestly disclose the use of this tool through accurate reference citation or
description of how and to what extent it was used.
2.3 Some students, on their own, desire to use generative AI to review or enrich their learning. If
so, be advised to responsibly cross-check information against more reputable sources such
as textbooks and peer-reviewed publications.
4. Deductions for late submission of assignments: One point after the submission due time, and one
point for every day thereafter.
5. Outside the classroom, you may communicate with me through Canvas message. If urgent, you
may send a copy via email. Individual or group consultations are done in school. Zoom-
consultation will be allowed if at least 2 students are present.
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ANNEX : LEARNING OUTCOMES Alignment of ECON110 to the Program Learning Outcomes

For Economics and Management Economics Majors
FOR AB ECONOMICS MAJORS:
*PROGRAM LEARNING OUTCOMES PLO1 PLO2 PLO3 PLO4 PLO5 PLO6 PLO7 PLO8 PLO9
*This section does not apply to a student who is not a major of the program under which this course
is administered ✓ ✓ ✓ ✓ ✓ ✓ ✓

Alignment of AB ECO, AB ECO-H and AB MEC Programs to the

FOR AB ECONOMICS(HONORS) MAJORS:
Core Curriculum Learning Outcomes
PLO1 PLO2 PLO3 PLO4 PLO5 PLO6 PLO7 PLO8 PLO9
The Ideal Ateneo Graduate: A Person of
Conscience Competence Compassion Commitment
✓ ✓ ✓ ✓ ✓ ✓ ✓
CCLO CCLO CCLO CCLO CCLO CCLO CCLO CCLO
1 2 3 4 5 6 7 8 FOR AB MANAGEMENT ECONOMICS MAJORS:
X X X X X X PLO1 PLO2 PLO3 PLO4 PLO5 PLO6 PLO7 PLO8 PLO9

✓ ✓ ✓ ✓ ✓ ✓
Alignment of ECON110 to the
Core Curriculum Learning Outcomes
Program Learning Outcomes (PLOs) – Source: Economics Department website
The Ideal Ateneo Graduate: A Person of
Conscience Competence Compassion Commitment AB Economics Program Learning Outcomes
1. Explain economic theories.
CCLO CCLO CCLO CCLO CCLO CCLO CCLO CCLO
2. Apply quantitative methods in economic analysis.
1 2 3 4 5 6 7 8
3. Critique current and proposed government policies affecting the economy and businesses particularly
X X X X those with implications for social welfare and efficiency.
4. Articulate evidence-based proposals or alternatives for government and business policies.
5. Acquire the knowledge and skills necessary for pursuing graduate studies.
6. Compose analytical and empirical economic papers grounded in critical thinking.
Core Curriculum Learning Outcomes (CCLOs)
7. Generate project proposals for wealth creation, human capital, equity and poverty reduction.
LEGEND: 8. Develop intuitive and quantitative skills to improve graduates’ employability in the academe, business,
CCLO 1 Demonstrate effective communication skills (listening and speaking, reading and writing) in
government, and non-government organizations
English and Filipino. 9. Develop sensitivity to issues of economic growth, wealth and income distribution, poverty, and the
environment
CCLO 2 Evaluate information and issues in various spheres of life using mathematical reasoning and
statistical tools to process and manage data. AB Economics-Honors Program Learning Outcomes
CCLO 3 Propose ways to address pressing social and ecological problems using appropriate critical 1. Explain economic theories
approaches and scientific thinking 2. Apply theory, econometrics and quantitative methods in economic analysis.
CCLO 4 Develop a creative and moral imagination that is responsive to contemporary global realities 3. Critique current and proposed government policies affecting the economy and businesses particularly
and challenges, but also deeply rooted in local histories, conditions, norms, and institutions. those with implications on social welfare and the efficiency
CCLO 5 Internalize the significance and value of her/ his unique existence and purpose in life in light 4. Articulate evidence-based proposals or alternatives for government and business policies.
of Christian faith. 5. Acquire the knowledge and skills necessary for pursuing graduate studies in quantitative economics
CCLO 6 Discern life choices with a keen awareness of ethical dilemmas and considerations.
6. Compose analytical and empirical economic papers grounded in critical thinking.
7. Generate project proposals for wealth creation, human capital, equity and poverty reduction
CCLO 7 Exemplify a commitment to enhancing human life and dignity, especially those who are 8. Develop intuitive and quantitative skills to improve graduates’ employability in the academe, business,
excluded and in greatest need. government, and non-government organizations
CCLO 8 Practice a vision of leadership and committed citizenship rooted in Christian humanism. 9. Develop sensitivity to issues of economic growth, wealth and income distribution, poverty, and the
environment

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AB Management Economics Program Learning Outcomes

1. Explain economic and management theories.
2. Apply quantitative methods in economic and business analysis.
3. Evaluate the implications on the economy and firm management of current and proposed government
policies as well as their effect on organizational efficiency and consumer welfare.
4. Analyze internal business processes including organizational, financial and marketing systems that affect
the efficiency and the provision of social and economic benefits to the community and the wider market.
5. Acquire the knowledge and skills necessary for pursuing graduate studies
6. Compose economic and business policy papers grounded in critical thinking
7. Generate project and business proposals to raise employment of capital and labor that will improve the
welfare of marginalized communities and the entire Philippine society.
8. Develop intuitive and quantitative skills to improve graduates’ employability in the academe, business,
government, and non-government organizations
9. Develop sensitivity to issues of economic growth, wealth and income distribution, poverty, and the
environment.
Econ 110 v.1 09/2020

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