Professional Documents
Culture Documents
SYSTEM
POLITICAL SYSTEM
A political system refers to the section of the society which deals with matters and
issues related to distribution of resources and conflict resolution. The system
comprises of institutions, organizations, rules, principles, and behaviours related to
conflict resolution, ie court system, executive, parliament, behaviours like voting.
• Fiscal Policy: Policies that relate to government spending or taxation. Since the
economy is measured as GDP = Consumer Spending + Investment +
Government expenditure + Net Exports, changes to fiscal policy directly effect
GDP.
• Monetary Policy: Policies that relate to the money supply. The government can
increase or decrease the money supply by buying or selling government bonds.
By increasing the money supply, the interest rate for loans will decrease,
encouraging companies to invest more. This can lead to lower unemployment
rates in the short run
Note: Monetary Policy is not as effective in the long run since market will adapt to new money supply.
POLICIES THAT INDIRECTLY IMPACTS ECONOMICS
INCLUDE:
The second highest official, Vice-President. The vice-president is second in line to succession
should the president resign, been impeached or die in office. The vice-president is usually a
member of the president's cabinet but not always. If there is a vacancy in the position of Vice
President, the President will appoint any member of Congress which is usually a party member
as new Vice President. The appointment will be validated by a three-fourths vote of Congress
voting separately.
2. LEGISLATIVE
THE BICAMERAL PHILIPPINE LEGISLATURE WHEREIN MEMBERS OF BOTH ARE ELECTED BY POPULAR VOTE, THE TWO CHAMBER
CONGRESS, CONSISTS OF THE FOLLOWING:
•Senate
•House of Representative
• SENATE
Senate or Senado or upper chamber consists of 24 seats wherein one-
half are elected every three years and members elected at large by
popular vote to serve six-year terms. They can be reelected but they
are no longer eligible to run for a third consecutive term. The Senate
is elected at large.
• HOUSE OF REPRESENTATIVE
House of Representatives or Kapulungan ng mga Kinatawan or lower chamber consists of 212 members
representing districts plus 24 sectoral party-list members and members elected by popular vote to serve three-
year terms. The Constitution prohibits the House of Representatives from having more than 250 members.
206 are elected from the single-member districts. The remainder of the House seats are elected for sectoral
representatives elected at large through a complex "party list" system, hinging on the party receiving at least
2% to 6% of the national vote total. The district and sectoral representatives are elected with a term of three
years. They can be re - elected but they are no longer qualified to run for a fourth consecutive term. The
House of Representatives may decide on to pass a resolution for a vacancy of a legislative seat that will pave
way for a special election. The winner of the special election will serve the unfinished term of the previous
district representative and will be considered as one elective term. The same rule applies in the Senate
however it will only apply if the seat is vacated before the regular legislative election.
3. JUDICIAL
The judiciary branch of the government is headed by the Supreme
Court, which has a Chief Justice as its head and 14 Associate Justices,
all selected by the president on the recommendation of the Judicial
and Bar Council and they shall serve until 70 years of age. Court of
Appeals which is Sandigan-bayan is a special court for hearing
corruption cases of government officials.
• The Philippines is a republic with a presidential form of government
wherein power is equally divided among its three branches:
executive, legislative, and judicial.
• One basic corollary in a presidential system of government is the
principle of separation of powers wherein legislation belongs to
Congress, execution to the Executive, and settlement of legal
controversies to the Judiciary.
ECONOMY OF THE PHILIPPINES
The economy of the Philippines is the world's 36th largest economy
by nominal GDP according to the 2019 estimate of the International
Monetary Fund's statistics, it is the 13th largest economy in Asia, and
the 3rd largest economy in the ASEAN after Indonesia and Thailand.
The Philippines is one of the emerging markets and is the sixth richest
in Southeast Asia by GDP per capita values, after the regional
countries of Singapore, Brunei, Malaysia, Thailand and Indonesia.
The Philippines is primarily considered a newly industrialized country,
which has an economy in transition from one based on agriculture to one
based more on services and manufacturing. As of 2017, GDP by
purchasing power parity was estimated to be at $1.980 trillion.