econ a course for the game of life
TRANSCRIPT
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)