This document outlines the course description, objectives, content, and references for a course on Principles of Economics, Taxation, Land Reform, and Cooperatives. The three unit course covers economic principles, taxation concepts and computations, agrarian reform, and cooperatives. It aims to help students understand and apply these topics to maximize resource use and improve quality of life. The course content is divided into ten parts that cover topics such as basic economics, microeconomics, macroeconomics, taxation, income/poverty/healthcare, land reform, cooperatives, and current economic issues.

1. Principles of Economics, Taxation and Land Reform with Cooperatives
Course Description:
A three unit course that deals with the study of the Principles of Economics, Taxation, Land and
Agrarian Reform and Cooperatives. It focuses on the application of the concepts of Economic principles
to maximize utilization of limited resources for the production of goods and services in order to satisfy
man’s unlimited wants. The course also relates the fundamental principles of Economics, Taxation,
Agrarian Reforms and Cooperatives and its application to the improvement of man’s quality of life.
General Objectives: Upon the completion of the course the students are expected to:
1. Demonstrate knowledge, skills and positive attitudes to the concepts and principles of Economics as
applied to real life situations;
2. Identify and differentiate the components or divisions of Economics.
3. Manifest understanding of the fundamental principles of Economics and relate them to current
economic problems and issues in the country.
4. Discuss the different support programs of the government in relation to redistribution of lands
5. Identify their roles and responsibilities in the achievement of the economic goals of the government,
i.e. poverty alleviation, sustainable development and attainment of higher standard of living among
its citizens.
6. Analyze the importance of taxation, its aspects, and classification.
7. Demonstrate the correct computation of income taxation.
8. Apply the principles of cooperativism.
9. Practice honesty and truthfulness in computing income taxation.
Part I.
SPECIFIC OBJECTIVES:
1. Discuss the relationship between economics and health
2. Explain the importance of the discipline of Economics and health to national development
3. Enumerate the different economic and health problems in the country
4. Present probable solutions to address current economic problems.
5. Find out how factors of health affect individualism society.
COURSE CONTENT: Introduction to Basic Economics
A. The Concept of Economics
1.Definition of Economics
2.Fundamental / Basic Economic Problem
3.Elements of Economics
B. The Concept of Health
1.Definition of Health
2.Determinants of Health
3.Health System Models
4.Health Resources
5.Government Health Objectives
C. Essentials of Health and Economics
1.Epidemiology
2.Expenditures in Health Care Delivery System
3.Access to Health Care

2. Principles of Economics, Taxation and Land Reform with Cooperatives
Part II.
SPECIFIC OBJECTIVES:
1. Define Economics as a subject in social science
2. Discuss the principles of Economics and show its conformity to real life cases and situations
3. Determine the scientific process of resolving the economic issues and problems
4. Use the scientific approaches in solving economic problems and other issues
COURSE CONTENT: Introduction to: Principles and Concepts of Economics
A. Relationship of Economics with other Social Science subjects
B. Divisions of Economics
1. Microeconomics
2. Macroeconomics
C. Fundamental Institutions of the Present Economic System
D. Using the scientific approaches in solving economic problems.
1. Observation
2. Formulation of hypothesis
3. Testing the hypotheses
4. Making value judgments
5. Forming generalization
6. Conclusion
7. Application
Part III.
SPECIFIC OBJECTIVES:
1. Broaden the student’s viewpoint on issues that actually exist in the economy.
2. Identify the available economic resources for the satisfaction of human wants and needs.
3. Motivate students to identify specific needs; to identify the available resources in the
surroundings to satisfy their needs.
4. Be able to match these resources with needs in the solution of specific economic problems.
5. To ask relevant economic questions / problems.
6. Recognize the need for analytical thinking in the discussion of the different economic problems.
COURSE CONTENT: The Economic world
A. Different Economic Systems
B. Man’s Economic Needs, Resources and Problems
1. Land
a. Kinds & uses
b. Labor
c. Capital
d. Entrepreneurial Ability
e. Foreign Exchange
C. Four Fundamental Economic Questions / Problems
1. What to produce?
2. How to produce?
3. How much to produce?
4. For whom to produce?

3. Principles of Economics, Taxation and Land Reform with Cooperatives
Part IV.
SPECIFIC OBJECTIVES:
1. Define demand and supply
2. Enumerate the determinants of demand and supply
3. Explain how demand and supply affect consumers and producers.
4. Discuss the role and importance of the price system.
5. Identify different types of market structure.
COURSE CONTENT: Basic Principles in Microeconomics
A. Prices of Goods and Services
1. Law of Demand
2. Law of Supply
3. Law of Supply and Demand
4. Profit Maximization
5. Analysis and Criticisms of the Price System
B. Production
1. Factors of Production
2. Law of Diminishing Returns
3. Cost of Production
4. Cost Minimization
C. Market Structures
1. Perfect Competition
2. Monopolistic Competition
3. Oligopoly
4. Monopoly
D. Factor Markets and Income Distribution
1. Factor Payments
a. Wage
b. Rent
c. Interest
d. Profit
2. Income Distribution
E. Business Organizations
1. Single Proprietorship
2. Partnership
3. Corporations
Part V.
SPECIFIC OBJECTIVES:
1. Understand the relationship between the two approaches in computing the value of GNP
2. Discuss the value of money and its influence to the various sectors of the economy.
COURSE CONTENT: Basic Principles in Macroeconomics
A. National Income Accounts
1.Measures of Income and Output
a. Gross National Product
b. Income approach
c. Expenditure approach

4. Principles of Economics, Taxation and Land Reform with Cooperatives
d. Service group approach
e. Net National Product
f. National Income
g. Personal Income
h. Disposable Personal Income
i. Gross Domestic Product
2.Nominal and Real GNP
2.1 Price Indexes
a. Wholesale Price Index
b. Consumer Price Index
c. GNP Implicit Price Index
2.2 Base Period
Part VI.
SPECIFIC OBJECTIVES:
1. Explain the importance of an efficient tax collection system to the delivery of health care
service, economic welfare.
COURSE CONTENT: Basic Taxation
A. Definition of Taxation
B. Importance & Function of Taxation
C. Principles of Income Taxation
D. Classification of Taxes
E. Forms of Escape from Taxation
F. Computation of Taxes
G. Other Government Taxes
Part VII.
SPECIFIC OBJECTIVES:
1. Describe how nation’s income distributed
2. Identify the determinants of income differences
3. Distinguish approaches in measuring and addressing poverty
4. Recognize reasons for rising cost of health care
COURSE CONTENT: Income, Poverty and HealthCare
A. Income
B. Poverty
C. Health Care
Part IX.
SPECIFIC OBJECTIVES:
1. Understand the Phil Agrarian structure
2. Explain how agrarian reform may be viewed as a development tool of growth and equity
3. Evaluate the features of CARP as a program to alleviate poverty among rural poor
households

5. Principles of Economics, Taxation and Land Reform with Cooperatives
COURSE CONTENT: Cooperatives
A. Meaning of Cooperative
B. Objectives of Cooperative
C. Principles of Cooperative
D. Organization of Cooperative
E. Purposes of the Cooperative
F. Types of Cooperative
G. Steps in Organizing a Cooperative
H. Why cooperatives fail
Part X.
SPECIFIC OBJECTIVES:
1. Distinguish between General and Institutional Economics
2. Understand global issues affecting the people’s livelihood and health care in national
3. Describe how a better quality of life may be attained.
COURSE CONTENT: Current and Global Economic Issues
A. WTO, APEC and 21st
Century Global Program (Agenda 21)
1. Trends in Trade Liberalization
a.Tariffs and quotas
b.Anti-dumping laws
c.Intellectual property rights
B. Sustainable Development areas/concerns
1. Values Integration
a.Economic
b.Social
c.Ecological
d.Cultural
e.Science and technology
f. Education
2. Role of Women
3. Gender Sensitivity
4. Population

6. Principles of Economics, Taxation and Land Reform with Cooperatives
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Economics, Problems, and Policies Boston: Mcgrawhill, 2005Lipsey, Richard, et al.
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Economics. New York. John Wiley and sons, Inc, 1996Fajardo, Feliciano,
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Principles of Microeconomics. Boston, Massachusetts: Houghton Mifflin Co., 1995Amacher, Ryan C.
Principles of Economies: Ohio South Western Co., 1993Villegas, Bernardo.
An Introduction to Economics, Manila: Sinagtala, Publications, 1993Boyes, William and Michael Melvin.
Economics. Boston: Houghton Miffin Co, 1991.Dornbusch, Rudiger and Stanley Fisher.
Macroeconomics, 5th Edition: New York Mcgrawhill, 1990.Amacher, Ryan C.
Principles of Economies: Ohio South Western Co., 1993Sicat, Gerardo.
Economics, Manila; National Bookstore, 1983
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EconomicsGlobalization101 : A Student's Guide to Globalization, Source:
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