INITAO COLLEGE
Initao, Misamis Oriental, Philippines
COLLEGE OF BUSINESS ADMINISTRATION
Course Plan in Basic Economics
Course Title Basic Economics Course Code : Econ 1
Credit Units 3 units Course Pre-requisites None
Course Description The course is designed to teach the fundamentals of economics in the micro spectrum in a very accessible manner which aims
open doors for greater learning. In particular, it intends to spur interesting thoughts and questions to help students develop critical
thinking and raise issues worthy insights to economic issues and concerns that affect individual and society as a whole.
Course Intended
Learning Outcomes
At the end of the semester, the students are expected to be able to:
1. Familiarize the basic tools of economic analysis – the demand and supply analysis as well as the concept of elasticity.
2. Grasp the concept on consumer behavior and utility maximization.
3. Acquire knowledge on production, cost, and revenue under a perfect market structure.
4. Acquire knowledge on the different types of market structure – monopoly, monopolistic competition and oligopoly.
Course Plan in Basic Economics
Preliminary Period
Essential Learning
Week Content Standards Declarative Knowledge Functional Knowledge Intended Learning Suggested Assessment
Outcomes (ILO) Teaching/Learning Tasks (ATs)
Activities (TLAs)
1 Orientation
Discussion on the Economics as the allocation Define the concepts of Become familiarize the Lecture-Discussion Oral Recitation
general definition of of scarce means of economics and illustrate concepts and meaning of Inductive Method
economics. The brief production toward the the allocation of scarce economics in micro setting.
history of economics. satisfaction of needs and resources to satisfy the
The scarcity of wants. needs and wants of
resources, factors of individual.
production and the
concept of opportunity
cost.
2 Discuss the four basic Four questions to address Illustrate the answers of Created an overview of the Lecture-Discussion Oral Recitation
questions on economics. the problem of scarcity; the four questions of concepts of economics as a Article Reading Assignment
The E’s in economics What to produce? How to economics and define the whole in answering the four Quiz
and the definition of produce? For whom to E’s of economics. questions of economics. Role Play
Microeconomics and produce? How much to
Macroeconomics. The b produce?
3 and 4 Discuss the Basic The Law of Supply and Define and illustrate the Application of the concepts Lecture-Discussion Oral Recitation
Analysis of Demand and Demand. Law of supply and of change in quantity Graphical Board-work
Supply and its method demand and its method demanded and change in Illustrations
of analysis. of analysis. demand. Application of the Inductive Method
concepts of change in
quantity supplied vs. change
in supply.
5 and 6 Discuss Market The meeting of supply and Define and discuss the Learn the concepts of Lecture-Discussion Oral Recitation
Equilibrium and demand results to what is concepts of market market equilibrium and Graphical Board-work
Disequilibrium. Price referred as market equilibrium and price disequilibrium and also the Illustrations
controls: Floor Price and equilibrium. Concepts on floor and ceiling. concepts of Price ceiling and Inductive Method
Price Ceiling Price floor and ceiling. Price floor of goods and Interactive-
services. Discussion
Term Exam
Course Plan in Basic Economics
Mid-Term Period
Essential Learning
Week Content Standards Declarative Knowledge Functional Knowledge Intended Learning Suggested Assessment
Outcomes (ILO) Teaching/Learning Tasks (ATs)
Activities (TLAs)
7 to 9 Discuss the Concepts The fundamentals on Price Define and illustrate the Familiarization on the Lecture-Discussion Quiz
on Elasticity elasticity of Demand, fundamentals on the 3 concepts of demand’s Inductive Method Board-work
Income Elasticity of elasticities of demand and elasticities and supply
Demand, Cross Price elasticity of supply and its elasticity and its coefficient
Elasticity, and Elasticity of interpretations of interpretations.
Supply and its respective coefficient.
interpretation on the
Elasticity Coefficient.
10 to Discuss the Consumer The aspects of consumer Illustrate and discuss the Able to have knowledge on Lecture-Discussion Oral Recitation
11 Choices and Utility taste and preferences in consumer taste and consumer taste and Inductive Method
Maximization Good and Services. preferences according to preferences and have deep Interactive
Maslow’s Hierarchy of Maslow’s Hierarchy of understanding on Economics Discussion
Needs and the Economics Needs. of Satisfaction and Rate of
of Satisfaction. Define the Economics of Substtitution.
The concepts of Marginal Satisfactions and Rate of
Rate of Substitution and the Substitution.
Purpose of Budget.
Term Exam
Course Plan in Basic Economics
Pre –Final Period
Essential Learning
Week Content Standards Declarative Knowledge Functional Knowledge Intended Learning Outcomes Suggested Assessment
(ILO) Teaching/Learning Tasks (ATs)
Activities (TLAs)
12 to Discuss the Production Aspects on Production, Explain and illustrate the Able to fully understand the Lecture-Discussion Oral Recitation
13 and Cost Input and Output including Production Concepts in Production Concepts in Interactive - Quiz
its Technology: Labor Economics, and the Economics and the Cost Discussion
Intensive or Capital Theory of Cost. Theory.
Intensive. The Production
Concepts and Theory of
Cost. Oral Recitation
Group Activity
14 to Discuss Profit, Loss and The Concept of Profit Explain and illustrate the Acquire understanding on Lecture-Discussion
15 Perfect Competition Maximization. concept of Profit the concept of Profit Inductive Method
Maximization. Maximization and the Long Quiz
Defined the Perfect aspects of Perfect
Competition and the Competition.
Perfect Competitor.
Term exam
Course Plan in Basic Economics
Final Period
Essential Learning
Week Content Standards Declarative Knowledge Functional Knowledge Intended Learning Suggested Assessment
Outcomes (ILO) Teaching/Learning Tasks (ATs)
Activities (TLAs)
16 Discuss Monopoly The characteristics and Define the characteristics To reflect that monopolistic Lecture-Discussion Reaction Paper
descriptions on a and descriptions on a market seen as inefficient Multimedia Writing
Monopolistic Market and Monopolistic Market. market. Presentation
its determinants.
17 Discuss Monopolistic Differentiation between Explain the To grasp the concept of Lecture-Discussion Quiz
Competition and Monopolistic Competitions characteristics of a Monopolistic Competition.
vs. Monopoly. Monopolistic
Competition.
18 Discuss Oligopoly Characteristics and Illustrate Oligopoly in To know the advantageous Lecture-Discussion Oral Recitation
description of Oligopoly. these aspects: non-price and disadvantageous of an
competition under Oligopolistic market.
Oligopoly; price
leadership-tacit collusion;
explicit collusion under
oligopoly; and price
fixing.
Term Exam
Basic Readings Microeconomics Simplified; Avila-Bato, Malveda, Marcelino Viray.2011
Extended Readings Journals and Periodic Publications
Internet
Course Assessment Interactive Discussion – Inductive Method
Performance based activities
Oral recitation
Written based activities
Written exam focused on the ILO
Course Policies Language of Instruction: English
Attendance: 54 hours (3 hours per week)
Checking of attendance and on time submission of assignments or paperwork activities.
Grading System QUIZZES 20%
PERFORMANCE TASK 20%
OUTPUT 20%
TERM EXAM 40%
TOTAL 100%
Course Title AY 2016-2017 Prepared by: Reviewed by: Approved BY:
Basic Economics
November,2016 Janus P. Jariolne RYAN I. SAYSON, MBM GRACE C. LAPINIG, Ph.D.
B. Economics Instructor Program Dean, BSHRM School Administrator
