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COURSE SYLLABUS 1.
Course Code
: SS121
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Course Title
: General Economics with Taxation and Land Reform and Entrepreneurship
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Pre-requisite
: none
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Co-requisite
: none
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Credit / Class Schedule : 3 units
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Course Description
: The course is the study of Economics as an essential aspect of life covering basic economic problems, prevailing economic systems, prices of goods and services and economic growth. Integrated in this course, is the study of the basics of taxation, the various types of national internal revenue taxes and the Land Reform Program of the Philippines and Entrepreneurship.
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Program Outcomes and Relationship to Program Educational Objectives Program Educational Objectives 1 2 3 4
Program Outcomes An ability to apply knowledge of mathematics, science, and engineering An ability to design and conduct experiments, as well as to (b) analyze and interpret data An ability to design a system, component, or process to meet (c) desired needs (a)
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(d) An ability to function on multi-disciplinary teams (e)
An ability to identify, formulate, and solve engineering problems √
(f) An understanding of professional and ethical responsibility (g) An ability to communicate effectively The broad education necessary to understand the impact of (h) engineering solutions in a global and societal context A recognition of the need for, and an ability to engage in life(i) long learning
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A knowledge of contemporary issues
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An ability to use the techniques, skills, and modern engineering tools necessary for engineering practice.
Course Objectives and Relationship to Program Outcomes: Course Objectives a b
The students should be able to:
Program Outcomes c d e f g h i
1. Gain a clear understanding of Economics and its significance to our lives.
2. Appreciate the goal of Economics which is social justice.
3. Analyze how prices are affected by the interaction between supply and demand of goods and services.
4. Learn the value of a sound business idea. 5. Realize the importance of Taxation in the existence of sovereign state.
6. Comprehend and compute the different types of national internal revenue taxes.
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7. Understand the Agrarian Reform problems in the Philippines and appreciate the Comprehensive Agrarian Reform Program (CARP) under R.A. No. 6657.
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9.
Course Coverage : Week 1
Topic
Methodology
Orientation Economics Defined Nature of Economic Choice Types of Economic Systems
Lecture and Discussion
3
4
Lecture
Income Flow The Concept of Equilibrium The Effect of Savings & Investments Flow in a Market with Gov’t. & Foreign Countries Market Defined How a Market Functions Market Demand Non-Price Determinants of Demand Effect of Changes in Non-Price Determinants of Demand Market Supply Non-Price Determinants of Supply Effect of Changes in Non-Price Determinants of Supply Market Equilibrium
Lecture
Assignment Recitation
Recitation
Seatwork
Lecture and Discussion With graphical illustration of the Law of Supply and Demand
QUIZ
Assignment
Elasticity Defined Elasticity of Demand Price Elasticity of Demand
QUIZ
Lecture with graphical illustrations of flow of the production process Analysis of prevailing economic situations and Graphical illustrations of the Circular flow of Goods & income of household firms
Implications of Price Elasticity of Demand Cross Elasticity of Demand Determinants of Demand Elasticity Elasticity of Supply
Recitation
readings
Stock & Flow Concepts The Circular Flow of Goods, Services and Income The Production Process The Flow of Goods Among Producing Firms Good & Income Flow Among Household & various types of Producers
Classification of Supply Elasticity Determinants of Supply Elasticity
Recitation
Analysis of newspaper
The Economic Resources Economic Goals Divisions of Economics 2
Assessment
Lecture Lecture with Graphical illustration of the elasticity of supply and demand
Recitation
Newspaper and magazine readings
Homework
Lecture and Discussion
QUIZ
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5
The Concept of Production Transforming Input into Outputs Production Functions Analysis of the Production Process Production with one variable Input Cost of Products Production with two variable Inputs Kinds of Market Structure Output of Price under Pure Competition Price and Output Determination under Monopoly Price and Output Determination under Oligopoly Price Determination under Monopolistic Competition
MIDTERM 6
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Cost of production
Homework
Definition of Taxation Importance and Purposes of Taxation Definition of Tax Essential Characteristics of Tax
Lecture and Discussion
Recitation
Theory and Basis of Taxation Nature of the Power of Taxation Basic Principles of a Sound Tax System
Discussion
Recitation
Classification of Taxes Taxes Distinguished from other Terms Limitations on the Power of Taxation Tax Evasion and Tax Avoidance: Definition and Distinction
Analysis of tax
Recitation
Kinds of Taxes Under Existing Laws Kinds of National Revenue Taxes Definition of: Income, Income Tax, Gross Income, and Taxable Income
Discussion
QUIZ
Computation of Individual Income Tax
Exercises on the computations of Income Tax
Lecture and Discussion
Recitation
Definition and Nature of Estate And Inheritance Taxes Definition and Kinds of Donation or Gift Tax Tax Imposed on Net Gift
Seatwork
EXAMINATION
Personal and Additional Exemptions Computation of Individual Income Tax Filing of Returns and Payment of Tax
Use of chart to show the
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Value-added Tax: Definition and Nature Rates and Bases of the VAT Overseas Communication Tax Amusement Tax Definition and Nature of Excise Tax Documentary Stamp Tax Travel Tax Energy Tax Meaning of Land Reform Meaning of Agrarian Reform Components of Agrarian Reform: Land Tenure Structure, Production Structure, Structure of Supporting
Discussion
Recitation
Discussion
QUIZ
Lecture and Discussion
Seatwork
Services 9
Reading of newspapers and magazines
Aspects of Agrarian Reform: Economic, Socio-cultural Biblical, Moral, Legal, and Political Implementation of Agrarian Reform The Philippine Agrarian Problem: A Historico-political Survey of Agrarian Problems and Agrarian Legislations Necessity of Agrarian Reform in the Philippines Objections to Agrarian Reform
10
Lecture and Discussion
Recitation
QUIZ
Role of the Farmer in Agrarian Reform Role of the Landlord in Agrarian Reform
Discussion
Assignment
Selected Constitutional Provisions Relevant to Agrarian Reform
Discussion
Recitation
The CARP (Comprehensive Agrarian Reform Program) Republic Act No. 6657 Need for CARP Objectives of the CARP The CARL (Comprehensive Agrarian Reform Law) 11
Discussion
Oral Report
F I N A L
Lecture and Discussion
Recitation
E X A M I N A T I O N
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10. Course Outcomes and Relationship to Course Objectives/ Program Outcomes
Course Outcomes
Course Objectives
A student completing this course should at the minimum be able to:
Program Outcomes
1 2 3 4 5 6 7 a b c d e f
Meaning of demand and supply
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Different forms of business organizations and the social responsibilities of Management
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Definition, importance, and purpose of taxation
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Different filing systems of the various kinds of national internal revenue taxes
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Different aspects of agrarian reform
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Necessity of agrarian reform in the Philippines Constitutional Provisions relevant to agrarian reform
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Appraise the value of the course.
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Analyze and evaluate the prevailing economic system
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Analyze the price system and the regulatory function of the government.
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Understand the explanation of economic development and growth. Analyze the limitations on the power of taxation.
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Develop the ability to compute the individual income tax. Discriminate insights into the Philippine agrarian problem. Develop an appreciation for the provisions of the Comprehensive Agrarian Reform Program (CARP) — R.A. No. 6657.
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11. Contribution of Course to Meeting the Professional Component: Engineering topics – 10% General education component -90 % 12. Textbook: Medina, Roberto G., Principles of Economics , Quezon City, Rex Bookstore, 2003 13. Course
Evaluation
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The minimum requirement for a passing grade is 60% final grade average from the following : Quizzes 30 % Recitation 20 % Oral Proficiency 10 % Seatwork/Homework 10 % Co-curricular Activities 5% Midterm Examination 10% Pre-Final Examination 15%
TOTAL
100 %
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Aside from academic deficiency, other grounds for a failing grade are: Cheating during examinations More than 20 % of the total number of meetings in a quartermester Failure to take the final examination with no valid excuse.
14. Other References: rd
a. De Leon, Hector S., Textbook on Agrarian Reform and Taxation (with Cooperatives), 3 Edition, Quezon City, Rex Bookstore, Inc., 2000. b. Fajardo, Feliciano R., Economics, Third Edition, Rex Bookstore, Inc., reprinted March 2004. c. Pagoso, Introductory Economics, Revised Edition, Rex Bookstore, Inc. th d. Nollado, Jose, Principles of Agrarian Reforms, Cooperatives and Taxation, 16 and Revised National Bookstore Inc., 1991. 15. Course Materials Made Available: Course goals and instructional objectives Course schedule for lectures and exams End of course self-assessment report 16. Committee Members: Prof. Remedios V. Trajano – Social Science Cluster leader Dr. Nestor M. Asuncion – Group Leader, General Economics with TLR and Entrepreneurship Prof. Benigno Agapito – Member
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