I would like to know you…

• In the index card, WRITE YOUR…• NAME• NICKNAME• COURSE AND YEAR• CONTACT NUMBER• EMAIL ADDRESS

WHAT IS YOUR TARGET GRADE FOR INTECOM?

WHAT MUST YOU DO TO GET THIS?

1. Pair up with someone you do not know.

2. After a minute or two getting to know each other, each person makes up a sentence with words starting with the letter of the OTHER person's

name.

DETTE ---Dette eats two tons of egg pies!

3. Think of a VERB or ACTION WORD that starts with the same letter as your pet name/nickname.

DANCING DETTE

3. Two pairs (4 students) come in front of the class

4. Each student does the action and yells out the action-name.  Everyone in the group

then repeats the action and the action-name.

5. The student then reads the sentence name.

COURSE SYLLABUS

• Is a CONTRACT between you (students) and DLS-CSB through me (Instructor)

• A CONTRACT contains the course’s objectives, reading, lectures, testing and grade & other requirements

• Sign the CONTRACT/course syllabus to signify agreement

Prof Bernadette Raymundo

Economics…a Course For

The Game Of Life

PROF. BERNADETTE E. RAYMUNDO

• To LOOK is one thingto SEE what you look at is anotherto UNDERSTAND what you see is a

thirdto LEARN from what you

understand is still something elsebut to ACT on what you learn is all

that really matter!

LOOKTurn one’s eyes toward something,

glance or gaze

SEE

Perceive mentally, ascertain, recognize, aware or identify

UNDERSTAND

Know the significance, implications or rationale

LEARN

Own or acquire the knowledge & skill through study and instruction

ACT

Putting knowledge into action, reality via thoughts, words, deeds

OBJECTIVES• Emphasize…

1.Why is economics important

2.What are the 3 benefits of studying

ECONOMICS…

ECONOMICS as a subject lacks

general appeal.

Agree/Disagree why?

47 / 55% 39 / 45%

It is intimidating/ boring / not affected or interested in what’s happening in the economy /

It’s complicated/ technical / difficult /because of the math

Discusses the bad things about the economy/ Economy not improving/ changing

Minor subject/not important

Need to be more hands on/ should teach how to survive

It is an interesting, informative, & important subject

Everyone encounters economics everyday/ is affected by the economy/ needed to be successful in business

It can explain the country’s problems / help one in using resources specially money

Intelligent people love it

ECONOMICS lacks appeal Because…• It talks about bad or gloomy

things• People do not like the message• That is why it’s called a “dismal

science”

ECONOMICS…

Needs to discuss gloomy things, to…• Understand the root causes of the

crises• Think of appropriate strategies and

solutions• Prevent crisis from recurring by

developing early warning systems

ECONOMICS lacks appeal It is out of touch with reality; incredible assumptionse.g., ceteris paribus, two good economy, no idle

resources

Because economic processes are complex, we need

assumptions to make the world easier to understand by

ignoring some details.

ECONOMICS lacks appeal Because…• It uses lots of mathematics and jargons

Allows economists to be precise, clear and specific

ECONOMICS lacks appeal Because…• Economists are unpopular or party

poopers

Economists warn about difficult choices and

tradeoffs

The Economists

PARTY POOPERS…OH YEAH!

PARTY POOPERS…NAH..!

REAL ECONOMISTS …in action

• UP ECONOMISTS• DR. FELIPE MEDALLA• WINNIE MONSOD • ETC…• LA SALLE ECONOMIST• RALPH RECTO

Life and Works…(write references

/sources)

(handwritten in one whole yellow

pad)

Do you know that

ECONOMICS…is practical &

useful subject? Oh…Come on…!

WHAT’S IN IT FOR ME?

WIIFM

WHAT’S IN IT FOR ME??

1. It will make you a wise decision maker or an intelligent participant in the economy

Learn the economic WAY of thinking... To think like an economist.

IS A WAY OF THINKING

Thinking is… a mental activity with the purpose of solving a problem, making a decision, fulfilling a

desire and searching for answers

Economics is a method rather than a doctrine, an apparatus of the mind, a technique of thinking

which helps its possessor to draw correct conclusion.

(John Maynard Keynes)

THE ECONOMIC WAY OF THINKING means…

• Making RATIONAL CHOICES

Life is not a series of chances

But a series of choices!

WHEN PEOPLE ACT IN THEIR BEST INTERESTS …

IT CAN EXPLAIN MANY THINGS ABOUT PEOPLE

Choices that are best for the individual who makes them

Uses the available information to make the best choice

As consumer

As student/worker

Study or work ,

Study or work ,

Marry now or later or never

aS investor ,

aS a businessman

,

Should I put up this business ?What will I produce / sell ?

How many will I produce / sell ?Etc..etc..etc!

aS a policymaker ,

How should government use the country’s resources? –EDUCATION, HEALTH, NATIONAL DEFENSE, HOUSING

How do we provide jobs to those who are jobless?How do we minimize or eliminate poverty in the

country?

Economics • Aims to help man in his quest for a

better life…• Constantly asks questions – why,

will it work, who gains/loses?• Economic tools are available to

help us make good choices in all areas of life

• Understand how others also make choices

Economics • Will train you to think critically

and quantitatively and enable you to see the big pictures

• Gain self confidence/ analytical skills useful in a wide range of jobs

• not being fooled by economists or charlatans

WHAT’S IN IT FOR ME?

WIIFM_2

WHAT’S IN IT FOR ME??_2

2. It will help you understand “WHAT’s going on around you”

Better grasp of local and international issues

WHAT’S GOIN ON?

AIDS/DENGUE

Teachers and policemen are paid with low salaries while athletes are

earning millions

Nursing graduates need to pay hospitals (5K) just to take them as

volunteer nurses

Is there a need to increase the MRT & LRT fares?

Economics • Makes us see the connections

between things or events• Trains you to see much

more...makes the invisible visible• Little knowledge will help you

understand business news

WHAT’S IN IT FOR ME?

WIIFM_3

WHAT’S IN IT FOR ME??_3

3. It will help you understand the WHY’s (potential gains and limitations) of economic program

Acquire a “social conscience”

WHAT PNoy iS doing?

Is he doing enough to fight corruption? Poverty?

Is he hiring the right men to work for him?

Economics • makes us informed and active

citizen...backbone of democracy• Since our problems are econo mics in

nature, we must be involved in providing or participating in economic programs

• Few understand economics which may be the reason why our economy is underperforming

BENEFITS OF STUDYING ECONOMICS

• Learn a new WAY of thinking• Understand WHAT’S going on• Understand the WHY’S of

government policies and actions

WWW.econ

The fear of the lord is the beginning of wisdom and knowledge of the HOLY

ONE is understandingProv. 9:10

If any one lacks wisdom, he should ask GOD, who gives generously to all without finding fault, and it will be

given him.James 1:5

WHY do WE HAVE TO MAKE A CHOICE?

One-minute paper – short personal reflection (5 sentences)