Undergraduate Course Descriptions
ECON 110
PRINCIPLES OF ECONOMICS
3 units
This is an introduction to the basic concepts and methods in mircoeconomics and macroeconomics. Topics include the methodology of economics, supply and demand analysis, modeling the behavior of households and firms, types of markets, the role of the government, and the performance of the economy as a whole.
ECON 111
INTERMEDIATE MICROECONOMIC THEORY
3 units
Pre-requisite: ECON 110
This is an analysis of the pricing processes in a market economy under varying competitive conditions, their role in the allocation of resources, and the functional distribution of national income.
ECON 112
INTERMEDIATE MACROECONOMIC THEORY
3 units
Pre-requisite: ECON 110
This is an analysis of the theory of national income determination and economic growth in alternative models of the national economy and the interaction and relation of aspects of these models to empirical aggregate analysis.
ECON 113
ECONOMICS OF MONEY AND BANKING
3 units
Pre-requisite: ECON 112
This is a systematic treatment of the determinants of money supply, volume of credit, and monetary theory. Topics include economic analysis of credit markets and financial institutions in the Philippines such as commercial banks, the Central Bank, rural banks, insurance companies, and agricultural credit cooperatives.
ECON 114
INTERNATIONAL FINANCE
3 units
Pre-requisite: ECON 112
This is an examination of open economy macroeconomics, including the concepts of balance of payments and national income, interest rate parity and purchasing power parity, exchange rate determination, finance and development, globalization, and policy
ECON 115
INTRODUCTION TO MATHEMATICAL ECONOMICS
3 units
Pre-requisites: ECON 111, ECON 112
This is an application of elementary mathematical techniques in economic analysis. Topics include economic models, static analysis, comparative static analysis, constrained and unconstrained optimization problems, duality theory, linear programming, and game theory.
ECON 116
STATISTICS FOR ECONOMISTS
3 units
Pre-requisites: None
This is an introduction to mathematical statistics in economic analysis. Topics include measures of central tendency and dispersion; probability theory; random variables and special distribution functions such as the binomial, Poisson, and normal distributions, hypotheses testing, correlation analysis, and simple and multiple linear regression models.
ECON 117.01
INTRODUCTION TO ECONOMETRICS I, LECTURE
3 units
Pre-requisite: ECON 111, ECON 112, and ECON 116 or equivalent
This is an introduction to basic empirical methods for the quantitive analysis of economic phenomena. Topics include estimation and inference using the classical linear regression model, detection and remedy of violations of the classical linear regression model assumptions, and basi time series analysis and forecasting*.
ECON 117.02
INTRODUCTION TO ECONOMETRICS I, LABORATORY
1 unit
Pre-requisite: ECON 111, ECON 112, and ECON 116 or equivalent
This is an introduction to software applications for multiple linear regression analysis, basic time series analysis, and forecasting*.
ECON 118.01
INTRODUCTION TO ECONOMETRICS II, LECTURE
3 units
Pre-requisite: ECON 117 or equivalent
This is a further introduction to empirical methods for the quantitative analysis of economic phenomena. Topics include basic discrete choice regression models, panel regression techniques, instrumental variable regression, and simultaneous system of equations*.
ECON 118.02
INTRODUCTION TO ECONOMETRICS II, LABORATORY
1 unit
Pre-requisite: ECON 117.1 or equivalent
This is an introduction to software applications for discrete choice regression models, panel regression techniques, instrumental variable regression, and simultaneous system of equations*.
ECON 121
DEVELOPMENT ECONOMICS
3 units
Pre-requisite: ECON 110
This is a study toward provoking and maintaining accelerated economic growth and equity in less developed countries. Emphasis is on the competing perspectives on development, the interaction of socio-cultural change and economic growth, outside participation in economic modernization, the role of the state, and the role of international specialization.
ECON 122
INTERNATIONAL ECONOMICS
3 units
Pre-requisite: ECON 111
This is an introduction to international trade theory and policy. The first part discusses the evolution of international trade theory from the classical trade theory to the new trade theory. The second part discusses international trade policy, economic integration theory, and international factor movements. The third part discusses contemporary trade, development, and global issues. The last part examines the Philippines’s trade policy and experiences in its bilateral/ regional relations.
ECON 123
INTERNATIONAL POLITICAL ECONOMY
3 units
Pre-requisite: ECON 110
This is an introduction to international political economy, integrating insights of economics and political science and focusing on the activities within particular states and the international arena. Topics include the ideologies of international political economy, the experience of developed and developing economies, and Philippine trade policies.
ECON 124.03
HISTORY OF ECONOMICS I
3 units
Pre-requisite: ECON 110
This is a survey of economic ideas from the early modern period to the early 20th century.
ECON 124.04
HISTORY OF ECONOMICS II
3 units
Pre-requisite: ECON 110
This is a survey on the developments of economic ideas in the 20th century to the present.
ECON 130
ECONOMIC HISTORY OF THE PHILIPPINES
3 units
Pre-requisite: ECON 110
This is an analysis of the colonial and contemporary economic policies and institutions of the Philippines.
ECON 131
ECONOMIC HISTORY OF MODERN JAPAN
3 units
Pre-requisite: ECON 110
This is a study of the processes and problems of economic growth, and the evolution of economic institutions since the Tokugawa period. Focus is also on contemporary economic policy and experience after the Meiji Restoration.
ECON 132
ECONOMIC HISTORY OF MODERN EUROPE
3 units
Pre-requisites: ECON 110
This is an analysis of significant processes and relationships in the economic development of Europe from the close of the Middle Ages to the present. Attention will be given to reciprocal relationships between the social and political context and the behavior of the economy over time. Focus is also on the contemporary economic policy and experience in Europe.
ECON 133
ECONOMIC HISTORY OF THE UNITED STATES
3 units
Pre-requisites: ECON 110
This is an examination of the major characteristics of the American economy from the late colonial period to the present. Special emphasis is given on the functional relationship between structural changes in the economy, and political demographic and social variables. Focus is also on the contemporary economic policy and experience in the United States.
ECON 134
COMPARATIVE ECONOMIC DEVELOPMENT IN SOUTHEAST ASIA AND EAST ASIA
3 units
Pre-requisite: ECON 110
This is a survey of economic development in Southeast Asia and East Asia in an effort to discover typologies of development. Focus is also on contemporary economic policy and experience in Southeast and East Asia.
ECON 140
INDUSTRIAL ORGANIZATION
3 units
Pre-requisite: ECON 111
This is a study of the ‘structure-conduct-performance’ paradigm of industrial organization economics, focusing on issues such as industry concentration, economies of scale, and alternative theories of the firm. Emphasis is on firm behavior. Topics include game-theoretic reinterpretations of oligopoly theories, limit pricing, and strategic entry deterrence
ECON 141
MANAGERIAL ECONOMICS
3 units
Pre-requisite: ECON 111
This is an application of general economic principles to the solution of business problems, with a view to developing an economic approach to management decisions. Relevant economic concepts such as imperfect competition, profits, demand, and cost are used as guiding principles in making managerial decisions
ECON 142
FINANCIAL ECONOMICS
3 units
Pre-requisite: ECON 111
This is a study of corporations as economic institutions for ordering the allocation of resources. Topics include short-term and capital financing, financial expansion and reorganization, emerging money and capital markets in the Philippines, and current programs for correcting dislocations in the financial structure of domestic firms.
ECON 143
OPTIONS, FUTURES, AND OTHER DERIVATIVES
3 units
Pre-requisite: ECON 110
This is a study of risk and its management with the use of financial instruments. The course discusses the different financial derivatives, from futures and options to more exotic instruments. Contract specifications, trading rules, pricing, and hedging strategies are discussed for each of the financial derivatives studies.
ECON 144
GAME THEORY FOR ECONOMISTS
3 units
Pre-requisite: ECON 115 or equivalent
This is an introduction to game theory with emphasis on non-cooperative game theory: static and dynamic games of complete and incomplete information. Other topics include the basics of cooperative game theory, theories of bargaining, and the limits of game-theoretic economic analysis.
ECON 145
ECONOMIC GEOGRAPHY OF THE PHILIPPINES
3 units
The course is a spatial and economic inventory, classification, and development of the land, physical, and socioeconomic resources of the Philippines. It is an integrated assessment of the country’s patrimony and their impacts to regional and national development.
ECON 146
LAW AND ECONOMICS
3 units
This course introduces the economic approach to the analysis of the law. Economic theories are used to assess the economic efficiency of laws and legal rules and to identify the best way to design rules that maximize social welfare. Economic concepts will be used in examining private laws like torts, property, contracts, criminal law, and intellectual property. It would also apply economic analyses to public international law and Philippines regulatory policies.
ECON 150
ECONOMICS OF PUBLIC FINANCE
3 units
Pre-requisite: ECON 110
This is an analysis of the role of government in allocating resources through its tax-expenditures program. Focus is on the national government and the use of fiscal policies to promote growth and maintain economic stability. Evaluation criteria are developed and applied to specific policies.
ECON 153
HEALTH ECONOMICS
3 units
Pre-requisite: ECON 110
This is an introduction to economic analysis as applied to the health sector. Topics include the relationships between health and development, current concerns on efficiency and equity of public and private systems, evaluation of health and health care, and pricing and government regulations.
ECON 154
ECONOMICS OF POPULATION
3 units
Pre-requisite: ECON 110
This is an examination of the factors that lead to population growth and its economic consequences. Using household consumption and production models, the existing conditions pertaining to the country’s demography are not only analyzed but the evolution of the different methodologies used are also considered.
ECON 155
ECONOMICS OF LABOR
3 units
Pre-requisite: ECON 111
This is a study of the institutional organization of labor markets and the major policy questions involved. Major topics include wage and employment theory, determinants of the level and structure of wage, technological change, unemployment; poverty and income distribution, inflation and income policy, and international trade and labor policy.
ECON 157
URBAN AND REGIONAL DEVELOPMENT
3 units
Pre-requisite: ECON 110
This is a study of the economies of industry location, land utilization, urban structure and regional expansions, emphasizing their independence and the contribution of public policy to locational objectives, methods, stability, and balance.
ECON 159
ECONOMICS OF NATURAL RESOURCES AND ENVIRONMENT
3 units
Pre-requisite: ECON 110
This is an analysis of the relationship and effects of economic activities on the environment but also the conceptual and policy tools to address environmental problems. Key topics include market failure and externalities, economic functions of the environment, and meaning, conditions, and constraints of sustainable development. Other topics include culture and values in resource management, market and non-market based approaches to environmental problems, valuation techniques of non-marketed goods, property rights and concept of environmental rights and justice, and importance of environmental education in promoting positive environmental attitudes.
ECON 160
ECONOMICS OF AGRICULTURAL DEVELOPMENT
3 units
Pre-requisite: ECON 110
This is an analysis of the transformation of a country’s agricultural sector to support industrial and service sectors. Topics include the problem and processes of evoking agricultural modernization, techniques of capturing gains in agricultural productivity for accelerated capital accumulation, and major policy implications involved.
ECON 161
PRIVATE ENTERPRISE AND PUBLIC POLICY
3 units
Pre-requisite: ECON 110
This is an economic analysis of public policy in the private enterprise system. Topics include the bases for defining the public and private sectors, the role of economic nationalism through public legislation, and the economic performance of industrial organizations characterized by varying degrees of government intervention.
ECON 170
COMPARATIVE ECONOMIC SYSTEMS
3 units
Pre-requisite: ECON 110
This is a comparative study of economic performance of various free and planned economies on the following major points: stability, resource utilization and growth of industrial and agricultural production, consumption, investment, foreign trade, and total output.
ECON 176
ECONOMICS OF THE PAPAL ENCYCLICALS
3 units
This is a consideration of Economics and its processes in relation to people and the larger society in which they work, in light of Catholic Social Teaching.
ECON 177
THEORY AND PRACTICE OF SOCIAL DEVELOPMENT
3 units
Pre-requisite: ECON 110
This is an introduction to concepts and tools for analyzing poverty and inequality and for examining social development concerns. The course examines how key economic concepts and methods of analysis can be applied in assessing and evaluating a range of social development projects to address marginalization and exclusion. Alternative methods of economic and social organization within the Philippine social policy arena are explored.
ECON 185.05
SPECIAL TOPICS IN ECONOMICS: RURAL DEVELOPMENT
3 units
This is an analysis of the agrarian situation within the framework of the logic of capitalism in relation to peripheral economies. Principles of project and resource management are also discussed as tools that can aid in the goal of rural development
ECON 185.10
SPECIAL TOPICS IN ECONOMICS: MARXIST POLITICAL ECONOMY
3 units
This is a workshop on the original text by Karl Marx. Focus is on economic theory.
ECON 185.13
SPECIAL TOPICS IN ECONOMICS: ECONOMICS OF HUMAN RESOURCES
3 units
Pre-requisite: ECON 110
This is an introduction to topics pertaining to human resources, including human capital and labor markets. Focus is on specific issues such as returns to education and other types of human investment, the distribution of earnings and income, population growth and poverty, and labor market policy.
ECON 185.20
SPECIAL TOPICS IN ECONOMICS: CONTEMPORARY ISSUES IN JAPANESE ECONOMY AND BUSINESS MANAGEMENT
3 units
This is a discussion of contemporary issues in Japan’s domestic economy and international economic issues involving Japan. Topics include factors behind the strong yen, impact of a strong yen, impact of an aging Japanese population, recession and recovery in Japan, and the role of Japan in Asia.
ECON 185.21
SPECIAL TOPICS IN ECONOMICS: TECHNOLOGY AND DEVELOPMENT
3 units
ECON 185.22
SPECIAL TOPICS IN ECONOMICS: PHILIPPINE-JAPAN RELATION
3 units
This is a survey of Philippine-Japan relations from the 16th century to the present. Topics include immigration, trade, investments, and cultural exchanges
ECON 185.26
SPECIAL TOPICS IN ECONOMICS: APPLIED MACROECONOMICS
3 units
The course is about Macroeconomic Theory and its application. The course was designed to introduce students to the applicative features of theory; its relevance to present day economic state of affairs. Theories will be discussed and explained for the purpose of determining whether or not these theories can still be used and/or utilized to explain present-day behaviors of economic agents as they interact and interrelate in the general macroeconomy.
ECON 185.33
SPECIAL TOPICS IN ECONOMICS: OTHER TOPICS IN MATHEMATICAL ECONOMICS
3 units
This course studies advanced mathematical techniques and their applications in economic theory and applied economic analysis. Two important areas of mathematical economics are covered: dynamic analysis and optimization (differential and difference equations, simultaneous dynamic equations), and linear optimization models (game theory and input-output economics).
ECON 185.39
SPECIAL TOPICS IN ECONOMICS: INPUT-OUTPUT ECONOMICS
3 units
Pre-requisite: ECON 115 equivalent
This is a study of input-output models of national economies using linear algebra as a tool for input-output analysis. This technique can be used for planning purposes and multiplier analysis.
ECON 185.42
SPECIAL TOPICS IN ECONOMICS: INTRODUCTION TO EUROPEAN ECONOMIC INTEGRATION
3 units
Pre-requisite: ECON 110
This is an analysis of economic theories and empirical studies on European economic integration through the adoption of common policies and the elimination of economic frontiers. Focus is on the relevant economic theories and empirical studies to understand the integration process.
ECON 185.48
SPECIAL TOPICS IN ECONOMICS: MODERN CHINESE ECONOMY
3 units
This is an introduction to the modern Chinese economy focusing on reforms undertaken to move from a centrally-planned to a market-oriented economy, and how it has increasingly integrated itself into the global economy.
ECON 185.52
SPECIAL TOPICS IN ECONOMICS: INFORMATION ECONOMICS
3 units
This is an introductory course in the economics of information. We relax the assumption frequently employed in microeconomics that all information is fully available to anyone and study the consequences of asymmetric information on efficiency and organizational/contract design.
ECON 185.54
SPECIAL TOPICS IN ECONOMICS: INTERNATIONAL ECONOMIC RELATIONS
3 units
Pre-requisite: ECON 110
This is an exploration of various economic topics relating to the open economy, including a survey of international trade theories. Topics include controversial issues in the debate over trade liberalization, the role of international bodies such as the World Bank, and the importance of factor movements.
ECON 185.57
SPECIAL TOPICS IN ECONOMICS: PROJECT/INDUSTRIAL ANALYSIS
3 units
Pre-requisite: ECON 116 or equivalent
This is an introduction to the history, theories, and methods of survey research. Focus is on the design, development, execution, and analysis of surveys. Survey sampling, question construction, questionnaire design, survey data analysis, and research ethics are covered. Topics include the theoretical and intellectual basis of surveys.
ECON 185.60
SPECIAL TOPICS IN ECONOMICS: ENVIRONMENTAL POLICY
3 units
The course deals with the selection and design of policy instruments for the environment. It covers the following topics: (1) the need for environmental and natural resource policy (2) categories of policy instruments and their effects, (3) criteria in selecting policy instruments, and (4) policy instruments for water, fisheries, forestry, agriculture, road transportation, pollution, climate change mitigation, and solid waste.
ECON 185.61
SPECIAL TOPICS IN ECONOMICS: SOCIAL, POLITICAL, AND ECOLOGICAL ECONOMICS
3 units
Pre-requisite: ECON 110
This is a historical map of economic thought including contemporary social, political, and ecological economics. Starting from the early classical works of the Physiocrats, Sismondi, John Stuart Mill, and Karl Marx, the development of these streams of thought are traced to provide fresh insights into modern problems.
ECON 185.63
SPECIAL TOPICS IN ECONOMICS: COMPARATIVE ECONOMIC THEORIES: NEOCLASSICAL VS. MARXIAN ECONOMICS
3 units
Pre-requisite: ECON 110
This is an introduction to the debates between capitalism and socialism. Students review the representative economic theory of capitalism (Neoclassical economics) and discover the representative economic theory of socialism (Marxian economics).
ECON 185.64
SPECIAL TOPICS IN ECONOMICS: MARITIME ECONOMICS
3 units
The course focuses on the application of economic principles to the maritime transport sector. The course will examine the major sectors of the shipping industry and their characteristics, recent trends and developments in each market and the various regulations governing their operations.
ECON 185.66
SPECIAL TOPICS IN ECONOMICS: WORKSHOP IN HAPPINESS ECONOMICS
3 units
Pre-requisite: ECON 110
This is an introduction to the economics and psychology of subjective well-being.
ECON 185.67
SPECIAL TOPICS IN ECONOMICS: TIME SERIES ANALYSIS AND GENERAL LINEAR MODELS
3 units
Pre-requisite: ECON 117.01, ECON 117.02
This course is a study of economic theories and empirical studies on European economic integration through the adoption of common policies and the elimination of economic frontiers. Focus is on the relevant economic theories and empirical studies to understand the integration process.
ECON 185.68i
SPECIAL TOPICS IN ECONOMICS: THE ECONOMY OF COMMUNION
3 units
This is an elective course with its genesis in Catholic social doctrine and the spirituality of unity. With its focus on reciprocity and respect for human dignity, it places the human person at the center of business and goes beyond corporate social responsibility or philanthropy. It considers all possible stakeholders—management, employees, customers, competitors, and broader community—as candidates for unity. The economic and relational life of the businesses are based on Gospel principles freely adopted by entrepreneurs, who freely commit their profits to three purposes: assistance to the poor, formation of persons in the culture of giving, and reinvestment in businesses.
ECON 185.69i
SPECIAL TOPICS IN ECONOMICS: LAW, ECONOMICS, AND PUBLIC POLICY
3 units
This course introduces basic insights from the field of Law and Economics and applies them to current socio-economic problems with emphasis on the formulation of public policy. This is relevant especially in a developing country context wherein the correct implementation of the legal framework is a key institutional driver of economic growth. Economic topics include market structures, property rights, externalities, public goods, collective action, rent-seeking and the contractual nature of the state. Law topics include political law, taxation law, property law, obligations and contracts, competition policy, environmental and financial regulation, labor law, and criminal law.
ECON 185.70
SPECIAL TOPICS IN ECONOMICS: SOUTH KOREAN ECONOMIC DEVELOPMENT
3 units
Pre-requisite: ECON 110
This course provides an overview of the economic development of South Korea from the end of World War II to the present time. It reviews South Korea’s economic development policies, culture, and social value system to explain its success and, more importantly, distill valuable learning insights for the Philippine economy.
ECON 185.71
SPECIAL TOPICS IN ECONOMICS: INTRODUCTION TO BEHAVIORAL ECONOMICS
3 units
Pre-requisite: ECON 111, ECON 112
This course introduces behavioral economics as a field of inquiry that combines psychology and economics. It seeks to present a better understanding of human judgement and decision-making under conditions of certainty and uncertainty, on how mental representations of economic processes affect judgement and decision-making etc. Topics introduce students to the applications in business, finance investment, social issues (e.g., health, poverty, etc.) and economic policies (e.g., taxation, etc.)
ECON 197
PRACTICUM
3 units
This is an application of knowledge and skills acquired in theory and methods courses to task or assignment in the context of a government agency, private corporation, school, or non-government organization. Students render two hundred hours of practicum training; and, at the end of their program, submit a report on their work and experience..
ECON 199.1
ECONOMIC RESEARCH I
3 units
Pre-requisite: ECON 117.01, ECON 117.02, ECON 118.01, ECON 118.02
This is a course applying research procedures and integrating theories and statistical analysis in the writing of a thesis.
*new course descriptions pending the approval of the LS Curriculum Committee
