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ECON 12 Reaction Paper
ECON 12 Reaction Paper
The Russia-Ukraine conflict has triggered turmoil in the financial markets, and drastically increased
uncertainty about the recovery of the global economy.
Russia is the world’s 3rd oil producer, the 2nd natural gas producer and among the top 5 producers of steel,
nickel and aluminum. It is also the largest wheat exporter in the world (almost 20% of global trade). On its
side, Ukraine is a key producer of corn (6th largest), wheat (7th), sunflowers (1st), and is amongst the top
ten producers for sugar beet, barley, soya and rapeseed.
On the day the invasion began, financial markets around the world fell sharply, and the prices of oil, natural
gas, metals and food commodities surged.
Source: Coface for Trade
GROUP 1 GROUP 2
•In your opinion, what is the impact of the war at the
•In your opinion, what is the impact of microeconomic level, specifically on households?
the war at the microeconomic level,
specifically on firms? •Provide examples that will support your answer/s.
Finally, consumer prices rose a seasonally adjusted 1.03% over the previous month in October, accelerating
from the 0.60% rise seen in September. October's result was the highest reading since January 2021.
Source: Central Bank of the Philippines (BSP) and Focus Economics calculations .
GROUP 3 GROUP 4
•In your opinion, what is the impact of the
•In your opinion, what is the impact of the increasing inflation rate at the microeconomic
increasing inflation rate at the level, specifically on households?
microeconomic level, specifically on firms?
•Provide examples that will support your answer/s.
•Provide examples that will support your
answer/s.
Group Presentation
The Philippine peso has been hitting record low after record low. This will be among the main drivers of
accelerating domestic inflation which will burden Filipinos with rising prices of basic needs on top of their
floundering incomes and earnings.
The government says the peso’s fall is due to external factors. The United States (US) Federal Reserve
is particularly blamed for its aggressive interest rate hikes since the start of the year. Saying that so many
other currencies are also weakening against the dollar, the government basically wants to justify inaction –
because the peso’s fall is like a natural calamity that we have no control over.
Source: Africa, Sonny, (2022 October 6). PH Peso: Catch Me I’m Falling. https://www.ibon.org/ph-peso-catch-me-im-falling /
GROUP 6
GROUP 5
•In your opinion, what is the impact of the
•In your opinion, what is the impact of the depreciating peso at the microeconomic level,
depreciating peso at the microeconomic specifically on households?
level, specifically on firms?
•Provide examples that will support your answer/s.
•Provide examples that will support your
answer/s.
INSTRUCTIONS
• Form a group with a MAXIMUM of 10 members per group.
• Choose a topic from the list above and make a report
about the said topic.
• No group shall report the same topic.
• Submit a video recording with 15 minutes maximum
duration for your ORAL PRESENTATION.