Brief Contents v | Preface to the First Edition viii
279 | E Rem Refl Soc Lea | In 297 Ch Ent 301 Cha Disc
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CONTENTS CONTENTS Agriculture and Rural Development Learning Objectives 88 | Looking Back 89 | Introduction 89 | Modernization and Industrialization of Agriculture 89 | Export Promotion 91 | Infrastructure Development 91 | Genetically Modified Organisms CONTENTS Cost of Living Learning Objectives 66 | Looking Back 67 | Introduction 67 | Basket of Goods and Services 68 | Consumer Price Index 69 | Economic Crashes 70 | Cost of Living Allowance 71 | Standard of Living 71 | ASEAN in Numbers 73 | Lorenz Curve and the Gini Index 73 | MSG RECVD 77 | Activity 77 | Remember 81 | Chapter Exercises 82 | Reflective Discussions 85 |References 87 92 | Green Revolution 92 | Sustainable Agriculture 93 | Ocean, Seas, and Marine Resources 94 | Ecotourism 95 | MSG RECVD 97 | Activity 97, 103 | Remember 107 | Chapter Exercises 108 | Reflective Discussions 111 | References 112 Industrialization Learning Objectives 113 | Looking Back 114 | Introduction 114 | The First Labor Markets Learning Objectives 136 | Looking Back 137 | Introduction 137 | Demand for Labor 137 | Supply of Labor 139 | Demand and Supply of Labor 140 | Shifting of Demand and Supply 141 | Individual Earnings and Wages 142 | Minimum Wage 142 | International Immigration 144 | Labor Market Discrimination 144 | Human Development Index 145 | MSG RECVD 146 | Activity 147 | Remember 150 | Chapter Exercises 151 | Reflective Discussions 155 | References 156 | Introduction 137 | Demand for Labor 137 | Supply of Labor 139 | Demand and Supply of Labor 140 | Shifting of Demand and Supply 141 | Individual Earnings and Wages 142 | Minimum Wage 142 | International Immigration 144 | Labor Market Discrimination 144 | Human Development Index 145 | MSG RECVD 146 | Activity 147 | Remember 150 | Chapter Exercises 151 | Reflective Discussions 155 | References 156 Labor Markets Learning Objectives 136 | Looking Back 137 Labor Markets Learning Objectives 136 | Looking Back 137 | Introduction 137 | Demand for Labor 137 | Supply of Labor 139 | Demand and Supply of Labor 140 | Shifting of Demand and Supply 141 | Individual Earnings and Wages 142 | Minimum Wage 142 | International Immigration 144 | Labor Market Discrimination 144 | Human Development Index 145 | MSG RECVD 146 | Activity 147 | Remember 150 | Chapter Exercises 151 | Reflective Discussions 155 | References 156 12 12 12 Financial Systems Learning Objectives 157 | Looking Back 158 | Introduction 158 | Financial Institutions 159 | Financial Systems in Economic Financial Systems Learning Objectives 157 | Looking Back 158 | Introduction 158 | Financial Institutions 159 | Financial Systems in Economic Development 161 | MSG RECVD 165 | Activity 166 | Remember 169 | Chapter Exercises 170 | Reflective Discussions 173 | References 174 Development 161 | MSG RECVD 165 | Activity 166 | Remember 169 | Chapter Exercises 170 | Reflective Discussions 173 | References 174 Development 161 | MSG RECVD 165 | Activity 166 | Remember 169 | Chapter Exercises 170 | Reflective Discussions 173 | References 174 12
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Economic Growth and Development Learning Objectives 1 | Looking Back 2 | Introduction 3 | Economic Growth 3 |
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Foreign Aid and Remittances Learning Objectives 228 | Looking Back 229 | Introduction 229 | Foreign Aid 229 | Concepts of Foreign Aid 230 | Marshall Plan 231 | Peace and Security 231 | Public Health 232 | Remittances 232 | Inter- Governmental Nonprofit Organizations 233 | MSG RECVD 234 | Activity 234 | Remember 240 | Chapter Exercise 241 | Reflective Discussions 242 | References 243 Health 232 | Remittances 232 | Inter- Governmental Nonprofit Organizations 233 | MSG RECVD 234 | Activity 234 | Remember 240 | Chapter Exercise 241 | Reflective Discussions 242 | References 243 Health 232 | Remittances 232 | Inter- Governmental Nonprofit Organizations 233 | MSG RECVD 234 | Activity 234 | Remember 240 | Chapter Exercise 241 | Reflective Discussions 242 | References 243 National Economic Policy Learning Objectives 245 | Looking Back 246 | Introduction 246 | Basic Macroeconomic Concepts 246 | Taxation and Economics 248 | Environment and Economics 250 | Healthcare and Economics 251 | Education and Economics 254 | MSG RECVD 255 | Activity 256 | Remember 264 | Chapter Exercises 265 | Reflective Discussions 269 | References 270 National Economic Policy Learning Objectives 245 | Looking Back 246 | Introduction 246 | Basic Macroeconomic Concepts 246 | Taxation and Economics 248 | Environment and Economics 250 | Healthcare and Economics 251 | Education and Economics 254 | MSG RECVD 255 | Activity 256 | Remember 264 | Chapter Exercises 265 | Reflective Discussions 269 | References 270 National Economic Policy Learning Objectives 245 | Looking Back 246 | Introduction 246 | Basic Macroeconomic Concepts 246 | Taxation and Economics 248 | Environment and Economics 250 | Healthcare and Economics 251 | Education and Economics 254 | MSG RECVD 255 | Activity 256 | Remember 264 | Chapter Exercises 265 | Reflective Discussions 269 | References 270 Cooperatives Learning Objectives 272 | Looking Back 273 | Introduction 273 | Legal Framework 274 | Types of Cooperatives 276 | Economic Impact 276 | ASEAN Plan for Farmer Cooperatives Development 277 | Advantages and Disadvantages 277 | Cooperative Finance 278 | Annual Cycle of Financial Activities in a Cooperative 279 | MSG RECVD 281 | Activity 281 | Economics Case Study Report 286 / Remember 290 | Chapter Exercise 291 | Reflective Discussions 291 | References 294 Cooperatives Learning Objectives 272 | Looking Back 273 | Introduction 273 | Legal Framework 274 | Types of Cooperatives 276 | Economic Impact 276 | ASEAN Plan for Farmer Cooperatives Development 277 | Advantages and Disadvantages 277 | Cooperative Finance 278 | Annual Cycle of Financial Activities in a Cooperative 279 | MSG RECVD 281 | Activity 281 | Economics Case Study Report 286 / Remember 290 | Chapter Exercise 291 | Reflective Discussions 291 | References 294 Social Enterprise Development Learning Objectives 295 | Looking Back 296 | Introduction 296 | The Social Economy 297 | Example Initiatives 298 | Challenges 299 | Experiences in Social Enterprise Development 299 | MSG RECVD 301 | Activity 302, 307 | Remember 310 | Social Enterprise Development Learning Objectives 295 | Looking Back 296 | Introduction 296 | The Social Economy 297 | Example Initiatives 298 | Challenges 299 | Experiences in Social Social Enterprise Development Learning Objectives 295 | Looking Back 296 | Introduction 296 | The Social Economy 297 | Example Initiatives 298 | Challenges 299 | Experiences in Social Foreign Aid and Remittances Learning Objectives 228 | Looking Back 229 | Introduction 229 | Foreign Aid 229 | Concepts of Foreign Aid 230 | Marshall Plan 231 | Peace and Security 231 | Public Foreign Aid and Remittances Learning Objectives 228 | Looking Back 229 | Introduction 229 | Foreign Aid 229 | Concepts of Foreign Aid 230 | Marshall Plan 231 | Peace and Security 231 | Public FDI 219 | MSG RECVD 221 | Activity 221 | Remember 224 | Chapter Exercise 225 | Reflective Discussions 226 | References 227 Foreign Trade Learning Objectives 193 | Looking Back 194 | Introduction 194 | History of Foreign Trade 195 | Concepts of Foreign Trade 195 | Gains from Trade 196 | Risks of Foreign Trade 197 | Effects of Foreign Trade 198 | Trading in the ASEAN 199 | Asian Trading with the Philippines 200 | Philippines' Bilateral and Multilateral Trade Agreements in Asia 201 | MSG RECVD 202 | Activity 203 | Remember 206 | Chapter Exercises 207 | Reflective Discussions 209 | References 212 Foreign Direct Investments Learning Objectives 214 | Looking Back 215 | Introduction 215 | Foreign Direct Investment 215 | Forms and Types 216 | Advantages and Disadvantages 217 | Pragmatic Approach to FDI 217 | FDI in the Philippines 218 | ASEAN
Productivity 5 | O-Ring Theory of Development 7 | Solow Model 8 | Economic Development in the Philippines 9 | Economic Growth and the World 11 | Rule of 70 13 | MSG RECVD 13 | Activity 14 | Remember 19 | Chapter Exercises 20 | Reflective Discussions 22 | References 23 Poverty and Inequality Learning Objectives 25 | Looking Back 26 | Introduction 26 | Absolute and Relative Poverty 27 | Poverty and the World 27 | Measuring Poverty 28 | Poverty Incidence 29 | Poverty Trap 31 | Poverty Reduction 33 | MSG RECVD 35 | Activity 36 | Remember 38 | Chapter Exercises 39 | Reflective Discussions 41 | References 42 5
Economic Development
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CONTENTS
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Pea Lea 316 316
Dedication iii | Acknowledgments iv | Brief Contents v | Preface to the First Edition viii Dedication iii | Acknowledgments iv | Brief Contents v | Preface to the First Edition viii 4 Dedication iii | Acknowledgments iv | Brief Contents v | Preface to the First Edition viii 4
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Dev 321 Acti Exe Ref
Cost of Living Learning Objectives 66 | Looking Back 67 | Introduction 67 | Basket of Goods and Services 68 | Consumer Price Index 69 | Economic Crashes 70 | Cost of Living Allowance 71 | Standard of Living 71 | ASEAN in Numbers 73 | Lorenz Curve and the Gini Index 73 | MSG RECVD 77 | Activity 77 | 6 7 7 7
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Economic Growth and Development Learning Objectives 1 | Looking Back 2 | Introduction 3 | Economic Growth 3 | Economic Growth and Development Learning Objectives 1 | Looking Back 2 | Introduction 3 | Economic Growth 3 | Productivity 5 | O-Ring Theory of Development 7 | Solow Model 8 | Economic Development in the Philippines 9 | Economic Growth and the World 11 | Rule of 70 13 | MSG RECVD 13 | Activity 14 | Remember 19 | Chapter Exercises 20 | Reflective Discussions 22 | References 23 Productivity 5 | O-Ring Theory of Development 7 | Solow Model 8 | Economic Development in the Philippines 9 | Economic Growth and the World 11 | Rule of 70 13 | MSG RECVD 13 | Activity 14 | Remember 19 | Chapter Exercises 20 | Reflective Discussions 22 | References 23 Economic Growth and Development Learning Objectives 1 | Looking Back 2 | Introduction 3 | Economic Growth 3 | 3 Productivity 5 | O-Ring Theory of Development 7 | Solow Model 8 | Economic Development in the Philippines 9 | Economic Growth and the World 11 | Rule of 70 13 | MSG RECVD 13 | Activity 14 | Remember 19 | Chapter Exercises 20 | Reflective Discussions 22 | References 23
Cost of Living Learning Objectives 66 | Looking Back 67 | Introduction 67 | Basket of Goods and Services 68 | Consumer Price Index 69 | Economic Crashes 70 | Cost of Living Allowance 71 | Standard of Living 71 | ASEAN in Numbers 73 | Lorenz Curve and the Gini Index 73 | MSG RECVD 77 | Activity 77 | Industrial Revolution 114 | The Second Industrial Revolution 115 | The Third Industrial Revolution 116 | The Fourth and Fifth Industrial Revolution 118 | The Modes of Industrialization 119 | Costs of Industrialization 120 | Deindustrialization 121 | Urbanization and the World 121 | MSG RECVD 123 | Activity 124 | Remember 81 | Chapter Exercises 82 | Reflective Discussions 85 |References 87 Agriculture and Rural Development Learning Objectives 88 | Looking Back 89 | Introduction 89 | Modernization and Industrialization of Agriculture 89 | Export Promotion 91 | Infrastructure Development 91 | Genetically Modified Organisms Cost of Living Learning Objectives 66 | Looking Back 67 | Introduction 67 | Basket of Goods and Services 68 | Consumer Price Index 69 | Economic Crashes 70 | Cost of Living Allowance 71 | Standard of Living 71 | ASEAN in Numbers 73 | Lorenz Curve and the Gini Index 73 | MSG RECVD 77 | Activity 77 | Remember 81 | Chapter Exercises 82 | Reflective Discussions 85 |References 87 Remember 81 | Chapter Exercises 82 | Reflective Discussions 85 |References 87 Agriculture and Rural Development Learning Objectives 88 | Looking Back 89 | Introduction 89 | Modernization and Industrialization of Agriculture 89 | Export Promotion 91 | Infrastructure Development 91 | Genetically Modified Organisms Agriculture and Rural Development Learning Objectives 88 | Looking Back 89 | Introduction 89 | Modernization and Industrialization of Agriculture 89 | Export Promotion 91 | Infrastructure Development 91 | Genetically Modified Organisms 92 | Green Revolution 92 | Sustainable Agriculture 93 | Ocean, Seas, and Marine Resources 94 | Ecotourism 95 | MSG RECVD 97 | Activity 97, 103 | Remember 107 | Chapter Exercises 108 | Reflective Discussions 111 | References 112 92 | Green Revolution 92 | Sustainable Agriculture 93 | Ocean, Seas, and Marine Resources 94 | Ecotourism 95 | MSG RECVD 97 | Activity 97, 103 | Remember 107 | Chapter Exercises 108 | Reflective Discussions 111 | References 112 Industrialization Learning Objectives 113 | Looking Back 114 | Introduction 114 | The First Industrial Revolution 114 | The Second Industrial Revolution 115 | The Third Industrial Revolution 116 | The Fourth and Fifth Industrial Revolution 118 | The Modes of Industrialization 119 | Costs of Industrialization 120 | Deindustrialization 121 | Urbanization and the World 121 | MSG RECVD 123 | Activity 124 | Reflection 127 / Remember 128 | Chapter Exercises 129 | Reflective Discussions 132 | References 133 Reflection 127 / Remember 128 | Chapter Exercises 129 | Reflective Discussions 132 | References 133 92 | Green Revolution 92 | Sustainable Agriculture 93 | Ocean, Seas, and Marine Resources 94 | Ecotourism 95 | MSG RECVD 97 | Activity 97, 103 | Remember 107 | Chapter Exercises 108 | Reflective Discussions 111 | References 112 Industrialization Learning Objectives 113 | Looking Back 114 | Introduction 114 | The First Industrial Revolution 114 | The Second Industrial Revolution 115 | The Third Industrial Revolution 116 | The Fourth and Fifth Industrial Revolution 118 | The Modes of Industrialization 119 | Costs of Industrialization 120 | Deindustrialization 121 | Urbanization and the World 121 | MSG RECVD 123 | Activity 124 | Industrial Revolution 114 | The Second Industrial Revolution 115 | The Third Industrial Revolution 116 | The Fourth and Fifth Industrial Revolution 118 | The Modes of Industrialization 119 | Costs of Industrialization 120 | Deindustrialization 121 | Urbanization and the World 121 | MSG RECVD 123 | Activity 124 | Reflection 127 / Remember 128 | Chapter Exercises 129 | Reflective Discussions 132 | References 133 10 Industrialization Learning Objectives 113 | Looking Back 114 | Introduction 114 | The First 9 9 9 10 10 8 8 8 Financial Systems Learning Objectives 157 | Looking Back 158 | Introduction 158 | Financial Institutions 159 | Financial Systems in Economic Development 161 | MSG RECVD 165 | Activity 166 | Remember 169 | Chapter Exercises 170 | Reflective Discussions 173 | References 174
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4 A Nation’s Wealth Learning Objectives 44 | Looking Back 45 | Introduction 45 | Gross Domestic Product 46 | Components of Gross Domestic Product 47 | Uses of Gross Domestic Product 48 | Real versus Nominal GDP 49 | GDP Deflator 50 | GDP per Capita 51 | Other Measurements of a Nation’s Income/Wealth 52 | Gross National Happiness 53 | Genuine Progress Indicator 54 | MSG RECVD 55 | Activity 55 | Remember 57 | Chapter Exercises 58 | Reflective Discussions 62 | References 64
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Poverty and Inequality Learning Objectives 25 | Looking Back 26 | Introduction 26 | Absolute and Relative Poverty 27 | Poverty and the World 27 | Measuring Poverty 28 | Poverty Incidence 29 | Poverty Trap 31 | Poverty Reduction 33 | MSG RECVD 35 | Activity 36 | Remember 38 | Chapter Exercises 39 | Reflective Discussions 41 | References 42 5 Poverty and Inequality Learning Objectives 25 | Looking Back 26 | Introduction 26 | Absolute and Relative Poverty 27 | Poverty and the World 27 | Measuring Poverty 28 | Poverty Incidence 29 | Poverty Trap 31 | Poverty Reduction 33 | MSG RECVD 35 | Activity 36 | Remember 38 | Chapter Exercises 39 | Reflective Discussions 41 | References 42 5 vi Poverty and Inequality Learning Objectives 25 | Looking Back 26 | Introduction 26 | Absolute and Relative Poverty 27 | Poverty and the World 27 | Measuring Poverty 28 | Poverty Incidence 29 | Poverty Trap 31 | Poverty Reduction 33 | MSG RECVD 35 | Activity 36 | Remember 38 | Chapter Exercises 39 | Reflective Discussions 41 | References 42 5
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Reflection 127 / Remember 128 | Chapter Exercises 129 | Reflective Discussions 132 | References 133 Labor Markets Learning Objectives 136 | Looking Back 137 Labor Markets Learning Objectives 136 | Looking Back 137 | Introduction 137 | Demand for Labor 137 | Supply of Labor 139 | Demand and Supply of Labor 140 | Shifting of Demand and Supply 141 | Individual Earnings and Wages 142 | Minimum Wage 142 | International Immigration 144 | Labor Market Discrimination 144 | Human Development Index 145 | MSG RECVD 146 | Activity 147 | Remember 150 | Chapter Exercises 151 | Reflective Discussions 155 | References 156 | Introduction 137 | Demand for Labor 137 | Supply of Labor 139 | Demand and Supply of Labor 140 | Shifting of Demand and Supply 141 | Individual Earnings and Wages 142 | Minimum Wage 142 | International Immigration 144 | Labor Market Discrimination 144 | Human Development Index 145 | MSG RECVD 146 | Activity 147 | Remember 150 | Chapter Exercises 151 | Reflective Discussions 155 | References 156 | Introduction 137 | Demand for Labor 137 | Supply of Labor 139 | Demand and Supply of Labor 140 | Shifting of Demand and Supply 141 | Individual Earnings and Wages 142 | Minimum Wage 142 | International Immigration 144 | Labor Market Discrimination 144 | Human Development Index 145 | MSG RECVD 146 | Activity 147 | Remember 150 | Chapter Exercises 151 | Reflective Discussions 155 | References 156 Financial Systems Learning Objectives 157 | Looking Back 158 | Introduction 158 | Financial Institutions 159 | Financial Systems in Economic Remember 186 | Chapter Exercises 187 | Reflective Discussions 189 | References 190 Financial Systems Learning Objectives 157 | Looking Back 158 | Introduction 158 | Financial Institutions 159 | Financial Systems in Economic Development 161 | MSG RECVD 165 | Activity 166 | Remember 169 | Chapter Exercises 170 | Reflective Discussions 173 | References 174 Remember 186 | Chapter Exercises 187 | Reflective Discussions 189 | References 190 Remember 186 | Chapter Exercises 187 | Reflective Discussions 189 | References 190 Development 161 | MSG RECVD 165 | Activity 166 | Remember 169 | Chapter Exercises 170 | Reflective Discussions 173 | References 174 Financial Systems Learning Objectives 157 | Looking Back 158 | Introduction 158 | Financial Institutions 159 | Financial Systems in Economic Finance and Development Learning Objectives 176 | Looking Back 177 | Introduction 177 | Role of Finance 177 | Finance and Development Learning Objectives 176 | Looking Back 177 | Introduction 177 | Role of Finance 177 | Finance and Development Learning Objectives 176 | Looking Back 177 | Introduction 177 | Role of Finance 177 | | Introduction 137 | Demand for Labor 137 | Supply of Labor 139 | Demand and Supply of Labor 140 | Shifting of Demand and Supply 141 | Individual Earnings and Wages 142 | Minimum Wage 142 | International Immigration 144 | Labor Market Discrimination 144 | Human Development Index 145 | MSG RECVD 146 | Activity 147 | Remember 150 | Chapter Exercises 151 | Reflective Discussions 155 | References 156 Financial Systems Learning Objectives 157 | Looking Back 158 | Introduction 158 | Financial Institutions 159 | Financial Systems in Economic Labor Markets Learning Objectives 136 | Looking Back 137 Labor Markets Learning Objectives 136 | Looking Back 137 Development 161 | MSG RECVD 165 | Activity 166 | Remember 169 | Chapter Exercises 170 | Reflective Discussions 173 | References 174 Finance and Development Learning Objectives 176 | Looking Back 177 | Introduction 177 | Role of Finance 177 | Finance and Governance 179 | Microfinance 179 | Microcredit 180 | Microsavings 180 | Islamic Finance 181 | MSG RECVD 183 | Activity 183 | Finance and Development Learning Objectives 176 | Looking Back 177 | Introduction 177 | Role of Finance 177 | Finance and Development Learning Objectives 176 | Looking Back 177 | Introduction 177 | Role of Finance 177 | Finance and Development Learning Objectives 176 | Looking Back 177 | Introduction 177 | Role of Finance 177 | Finance and Governance 179 | Microfinance 179 | Microcredit 180 | Microsavings 180 | Islamic Finance 181 | MSG RECVD 183 | Activity 183 | Activity 203 | Remember 206 | Chapter Exercises 207 | Reflective Discussions 209 | References 212 Remember 186 | Chapter Exercises 187 | Reflective Discussions 189 | References 190 Remember 186 | Chapter Exercises 187 | Reflective Discussions 189 | References 190 Finance and Governance 179 | Microfinance 179 | Microcredit 180 | Microsavings 180 | Islamic Finance 181 | MSG RECVD 183 | Activity 183 | Remember 186 | Chapter Exercises 187 | Reflective Discussions 189 | References 190 Finance and Governance 179 | Microfinance 179 | Microcredit 180 | Microsavings 180 | Islamic Finance 181 | MSG RECVD 183 | Activity 183 | Activity 203 | Remember 206 | Chapter Exercises 207 | Reflective Discussions 209 | References 212 Foreign Direct Investments Learning Objectives 214 | Looking Back 215 | Introduction 215 | Foreign Direct Investment 215 | Forms and Types 216 | Advantages and Disadvantages 217 | Pragmatic Approach to FDI 217 | FDI in the Philippines 218 | ASEAN FDI 219 | MSG RECVD 221 | Activity 221 | Remember 224 | Chapter Exercise 225 | Reflective Discussions 226 | References 227 Foreign Trade Learning Objectives 193 | Looking Back 194 | Introduction 194 | History of Foreign Trade 195 | Concepts of Foreign Trade 195 | Gains from Trade 196 | Risks of Foreign Trade 197 | Effects of Foreign Trade 198 | Trading in the ASEAN 199 | Asian Trading with the Philippines 200 | Philippines' Bilateral and Multilateral Trade Agreements in Asia 201 | MSG RECVD 202 | Foreign Trade Learning Objectives 193 | Looking Back 194 | Introduction 194 | History of Foreign Trade 195 | Concepts of Foreign Trade 195 | Gains from Trade 196 | Risks of Foreign Trade 197 | Effects of Foreign Trade 198 | Trading in the ASEAN 199 | Asian Trading with the Philippines 200 | Philippines' Bilateral and Multilateral Trade Agreements in Asia 201 | MSG RECVD 202 | Activity 203 | Remember 206 | Chapter Exercises 207 | Reflective Discussions 209 | References 212 Activity 203 | Remember 206 | Chapter Exercises 207 | Reflective Discussions 209 | References 212 Foreign Direct Investments Learning Objectives 214 | Looking Back 215 | Introduction 215 | Foreign Direct Investment 215 | Forms and Types 216 | Advantages and Disadvantages 217 | Pragmatic Approach to FDI 217 | FDI in the Philippines 218 | ASEAN Foreign Direct Investments Learning Objectives 214 | Looking Back 215 | Introduction 215 | Foreign Direct Investment 215 | Forms and Types 216 | Advantages and Disadvantages 217 | Pragmatic Approach to Foreign Direct Investments Learning Objectives 214 | Looking Back 215 | Introduction 215 | Foreign Direct Investment 215 | Forms and Types 216 | Advantages and Foreign Direct Investments Learning Objectives 214 | Looking Back 215 | Introduction 215 | Foreign Direct Investment 215 | Forms and Types 216 | Advantages and FDI 219 | MSG RECVD 221 | Activity 221 | Remember 224 | Chapter Exercise 225 | FDI 219 | MSG RECVD 221 | Activity 221 | Remember 224 | Chapter Exercise 225 | Reflective Discussions 226 | References 227 Foreign Trade Learning Objectives 193 | Looking Back 194 | Introduction 194 | History of Foreign Trade 195 | Concepts of Foreign Trade 195 | Gains from Trade 196 | Risks of Foreign Trade 197 | Effects of Foreign Trade 198 | Trading in the ASEAN 199 | Asian Trading with the Philippines 200 | Philippines' Bilateral and Multilateral Trade Agreements in Asia 201 | MSG RECVD 202 | Activity 203 | Remember 206 | Chapter Exercises 207 | Reflective Discussions 209 | References 212 Foreign Trade Learning Objectives 193 | Looking Back 194 | Introduction 194 | History of Foreign Trade 195 | Concepts of Foreign Trade 195 | Gains from Trade 196 | Risks of Foreign Trade 197 | Effects of Foreign Trade 198 | Trading in the ASEAN 199 | Asian Trading with the Philippines 200 | Philippines' Bilateral and Multilateral Trade Agreements in Asia 201 | MSG RECVD 202 | Activity 203 | Remember 206 | Chapter Exercises 207 | Reflective Discussions 209 | References 212 Activity 203 | Remember 206 | Chapter Exercises 207 | Reflective Discussions 209 | References 212 Foreign Direct Investments Learning Objectives 214 | Looking Back 215 | Introduction 215 | Foreign Direct Investment 215 | Forms and Types 216 | Advantages and Disadvantages 217 | Pragmatic Approach to FDI 217 | FDI in the Philippines 218 | ASEAN Remember 186 | Chapter Exercises 187 | Reflective Discussions 189 | References 190
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Foreign Aid and Remittances Learning Objectives 228 | Looking Back 229 | Introduction 229 | Foreign Aid 229 | Concepts of Foreign Aid 230 | Marshall Plan 231 | Peace and Security 231 | Public | Introduction 229 | Foreign Aid 229 | Concepts of Foreign Aid 230 | Marshall Plan 231 | Peace and Security 231 | Public Health 232 | Remittances 232 | Inter- Governmental Nonprofit Organizations 233 | MSG RECVD 234 | Activity 234 | Remember 240 | Chapter Exercise 241 | Reflective Discussions 242 | References 243 Health 232 | Remittances 232 | Inter- Governmental Nonprofit Organizations 233 | MSG RECVD 234 | Activity 234 | Remember 240 | Chapter Exercise 241 | Reflective Discussions 242 | References 243 Health 232 | Remittances 232 | Inter- Governmental Nonprofit Organizations 233 | MSG RECVD 234 | Activity 234 | Remember 240 | Chapter Exercise 241 | Reflective Discussions 242 | References 243 National Economic Policy Learning Objectives 245 | Looking Back 246 | Introduction 246 | Basic Macroeconomic Concepts 246 | Taxation and Economics 248 | Environment and Economics 250 | Healthcare and Economics 251 | Education and Economics 254 | MSG RECVD 255 | Activity 256 | Remember 264 | Chapter Exercises 265 | Reflective Discussions 269 | References 270 National Economic Policy Learning Objectives 245 | Looking Back 246 | Introduction 246 | Basic Macroeconomic Concepts 246 | Taxation and Economics 248 | Environment and Economics 250 | Healthcare and Economics 251 | Education and Economics 254 | MSG RECVD 255 | Activity 256 | Remember 264 | Chapter Exercises 265 | Reflective Discussions 269 | References 270 Cooperatives Learning Objectives 272 | Looking Back 273 | Introduction 273 | Legal Framework 274 | Types of Cooperatives 276 | Economic Impact 276 | ASEAN Plan for Farmer Cooperatives Development 277 | Cooperatives Learning Objectives 272 | Looking Back 273 | Introduction 273 | Legal Framework 274 | Types of Cooperatives 276 | Economic Impact 276 | ASEAN Plan for Farmer Cooperatives Development 277 | Advantages and Disadvantages 277 | Cooperative Finance 278 | Annual Cycle of Financial Activities in a Cooperative 279 | MSG RECVD 281 | Activity 281 | Economics Case Study Report 286 / Remember 290 | Chapter Exercise 291 | Reflective Discussions 291 | References 294 Advantages and Disadvantages 277 | Cooperative Finance 278 | Annual Cycle of Financial Activities in a Cooperative 279 | MSG RECVD 281 | Activity 281 | Economics Case Study Report 286 / Remember 290 | Chapter Exercise 291 | Reflective Discussions 291 | References 294 Social Enterprise Development Learning Objectives 295 | Looking Back 296 | Introduction 296 | The Social Economy 297 | Example Initiatives 298 | Challenges 299 | Experiences in Social Enterprise Development 299 | MSG RECVD 301 | Activity 302, 307 | Remember 310 | Development Goals of the United Nations 321 | History 321 | MSG RECVD 323 | Activity 324 | Remember 327 | Chapter Exercise 328 | Reflective Discussions 329 | References 331 Development Goals of the United Nations 321 | History 321 | MSG RECVD 323 | Activity 324 | Remember 327 | Chapter Exercise 328 | Reflective Discussions 329 | References 331 vii Chapter Exercise 311 | Reflective Discussions 312 | References 313 Chapter Exercise 311 | Reflective Discussions 312 | References 313 Chapter Exercise 311 | Reflective Discussions 312 | References 313 Chapter Exercise 311 | Reflective Discussions 312 | References 313 Cooperatives Learning Objectives 272 | Looking Back 273 | Introduction 273 | Legal Framework 274 | Types of Cooperatives 276 | Economic Impact 276 | ASEAN Plan for Farmer Cooperatives Development 277 | Advantages and Disadvantages 277 | Cooperative Finance 278 | Annual Cycle of Financial Activities in a Cooperative 279 | MSG RECVD 281 | Activity 281 | Economics Case Study Report 286 / Remember 290 | Chapter Exercise 291 | Reflective Discussions 291 | References 294 Cooperatives Learning Objectives 272 | Looking Back 273 | Introduction 273 | Legal Framework 274 | Types of Cooperatives 276 | Economic Impact 276 | ASEAN Plan for Farmer Cooperatives Development 277 | Enterprise Development 299 | MSG RECVD 301 | Activity 302, 307 | Remember 310 | Enterprise Development 299 | MSG RECVD 301 | Activity 302, 307 | Remember 310 | Health 232 | Remittances 232 | Inter- Governmental Nonprofit Organizations 233 | MSG RECVD 234 | Activity 234 | Remember 240 | Chapter Exercise 241 | Reflective Discussions 242 | References 243 National Economic Policy Learning Objectives 245 | Looking Back 246 | Introduction 246 | Basic Macroeconomic Concepts 246 | Taxation and Economics 248 | Environment and Economics 250 | Healthcare and Economics 251 | Education and Economics 254 | MSG RECVD 255 | Activity 256 | Remember 264 | Chapter Exercises 265 | Reflective Discussions 269 | References 270 National Economic Policy Learning Objectives 245 | Looking Back 246 | Introduction 246 | Basic Macroeconomic Concepts 246 | Taxation and Economics 248 | Environment and Economics 250 | Healthcare and Economics 251 | Education and Economics 254 | MSG RECVD 255 | Activity 256 | Remember 264 | Chapter Exercises 265 | Reflective Discussions 269 | References 270 Cooperatives Learning Objectives 272 | Looking Back 273 | Introduction 273 | Legal Framework 274 | Types of Cooperatives 276 | Economic Impact 276 | ASEAN Plan for Farmer Cooperatives Development 277 | Advantages and Disadvantages 277 | Cooperative Finance 278 | Annual Cycle of Financial Activities in a Cooperative 279 | MSG RECVD 281 | Activity 281 | Economics Case Study Report 286 / Remember 290 | Chapter Exercise 291 | Reflective Discussions 291 | References 294 | Introduction 229 | Foreign Aid 229 | Concepts of Foreign Aid 230 | Marshall Plan 231 | Peace and Security 231 | Public Peace Economics and Development Learning Objectives 315 | Looking Back 316 | Introduction 316 | Peace Economics 316 | Peace 317 | Peace Dividends 318 | Demographic Dividends 319 | Transnational Crime and Terrorism 320 | Social Development Goals of the United Nations 321 | History 321 | MSG RECVD 323 | Activity 324 | Remember 327 | Chapter Exercise 328 | Reflective Discussions 329 | References 331 Peace Economics and Development Learning Objectives 315 | Looking Back 316 | Introduction 316 | Peace Economics 316 | Peace 317 | Peace Dividends 318 | Demographic Dividends 319 | Transnational Crime and Terrorism 320 | Social Peace Economics and Development Learning Objectives 315 | Looking Back 316 | Introduction 316 | Peace Economics 316 | Peace 317 | Peace Dividends 318 | Demographic Dividends 319 | Transnational Crime and Terrorism 320 | Social Foreign Aid and Remittances Learning Objectives 228 | Looking Back 229 | Introduction 229 | Foreign Aid 229 | Concepts of Foreign Aid 230 | Marshall Plan 231 | Peace and Security 231 | Public Foreign Aid and Remittances Learning Objectives 228 | Looking Back 229 Foreign Aid and Remittances Learning Objectives 228 | Looking Back 229
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A Nation’s Wealth Learning Objectives 44 | Looking Back 45 | Introduction 45 | Gross Domestic Product 46 | Components of Gross Domestic Product 47 | Uses of Gross Domestic Product 48 | Real versus Nominal GDP 49 | GDP Deflator 50 | GDP per Capita 51 | Other Measurements of a Nation’s Income/Wealth 52 | Gross National Happiness 53 | Genuine Progress Indicator 54 | MSG RECVD 55 | Activity 55 | Remember 57 | Chapter Exercises 58 | Reflective Discussions 62 | References 64 A Nation’s Wealth Learning Objectives 44 | Looking Back 45 | Introduction 45 | Gross Domestic Product 46 | Components of Gross Domestic Product 47 | Uses of Gross Domestic Product 48 | Real versus Nominal GDP 49 | GDP Deflator 50 | GDP per Capita 51 | Other Measurements of a Nation’s Income/Wealth 52 | Gross National Happiness 53 | Genuine Progress Indicator 54 | MSG RECVD 55 | Activity 55 | Remember 57 | Chapter Exercises 58 | Reflective Discussions 62 | References 64 Cost of Living Learning Objectives 66 | Looking Back 67 | Introduction 67 | Basket of Goods and Services 68 | Consumer Price Index 69 | Economic Crashes 70 | Cost of Living A Nation’s Wealth Learning Objectives 44 | Looking Back 45 | Introduction 45 | Gross Domestic Product 46 | Components of Gross Domestic Product 47 | Uses of Gross Domestic Product 48 | Real versus Nominal GDP 49 | GDP Deflator 50 | GDP per Capita 51 | Other Measurements of a Nation’s Income/Wealth 52 | Gross National Happiness 53 | Genuine Progress Indicator 54 | MSG RECVD 55 | Activity 55 | Remember 57 | Chapter Exercises 58 | Reflective Discussions 62 | References 64 CONTENTS Allowance 71 | Standard of Living 71 | ASEAN in Numbers 73 | Lorenz Curve and the Gini Index 73 | MSG RECVD 77 | Activity 77 | Remember 81 | Chapter Exercises 82 | Reflective Discussions 85 |References 87 Agriculture and Rural Development Learning Objectives 88 | Looking Back 89 | Introduction 89 | Modernization and Industrialization of Agriculture 89 | Export Promotion 91 | Infrastructure Development 91 | Genetically Modified Organisms 92 | Green Revolution 92 | Sustainable Agriculture 93 | Ocean, Seas, and Marine Resources 94 | Ecotourism 95 | MSG RECVD 97 | Activity 97, 103 | Remember 107 | Chapter Exercises 108 | Reflective Discussions 111 | References 112 Industrialization Learning Objectives 113 | Looking Back 114 | Introduction 114 | The First Industrial Revolution 114 | The Second Industrial Revolution 115 | The Third Industrial Revolution 116 | The Fourth and Fifth Industrial Revolution 118 | The Modes of Industrialization 119 | Costs of
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13 Finance and Governance 179 | Microfinance 179 | Microcredit 180 | Microsavings 180 | Islamic Finance 181 | MSG RECVD 183 | Activity 183 | Finance and Governance 179 | Microfinance 179 | Microcredit 180 | Microsavings 180 | Islamic Finance 181 | MSG RECVD 183 | Activity 183 | Finance and Governance 179 | Microfinance 179 | Microcredit 180 | Microsavings 180 | Islamic Finance 181 | MSG RECVD 183 | Activity 183 | 13 13
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tion iii | Acknowledgments iv | nts v | Preface to the First Edition viii
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Foreign Trade Learning Objectives 193 | Looking Back 194 | Introduction 194 | History of Foreign Trade 195 | Concepts of Foreign Trade 195 | Gains from Trade 196 | Risks of Foreign Trade 197 | Effects of Foreign Trade 198 | Trading in the ASEAN 199 | Asian Trading with the Philippines 200 | Philippines' Bilateral and Multilateral Trade Agreements in Asia 201 | MSG RECVD 202 | Foreign Trade Learning Objectives 193 | Looking Back 194 | Introduction 194 | History of Foreign Trade 195 | Concepts of Foreign Trade 195 | Gains from Trade 196 | Risks of Foreign Trade 197 | Effects of Foreign Trade 198 | Trading in the ASEAN 199 | Asian Trading with the Philippines 200 | Philippines' Bilateral and Multilateral Trade Agreements in Asia 201 | MSG RECVD 202 | Foreign Trade Learning Objectives 193 | Looking Back 194 | Introduction 194 | History of Foreign Trade 195 | Concepts of Foreign Trade 195 | Gains from Trade 196 | Risks of Foreign Trade 197 | Effects of Foreign Trade 198 | Trading in the ASEAN 199 | Asian Trading with the Philippines 200 | Philippines' Bilateral and Multilateral Trade Agreements in Asia 201 | MSG RECVD 202 |
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k 2 | h 3 | Development evelopment owth and MSG RECVD | Chapter ns 22 | Back 26 | elative Poverty Measuring 9 | Poverty | MSG RECVD | Chapter ns 41 |
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Chapter Exercise 311 | Reflective Discussions 312 | References 313 Enterprise Development 299 | MSG RECVD 301 | Activity 302, 307 | Remember 310 | Enterprise Development 299 | MSG RECVD 301 | Activity 302, 307 | Remember 310 | Social Enterprise Development Learning Objectives 295 | Looking Back 296 | Introduction 296 | The Social Economy 297 | Example Initiatives 298 | Challenges 299 | Experiences in Social Social Enterprise Development Learning Objectives 295 | Looking Back 296 | Introduction 296 | The Social Economy 297 | Example Initiatives 298 | Challenges 299 | Experiences in Social Advantages and Disadvantages 277 | Cooperative Finance 278 | Annual Cycle of Financial Activities in a Cooperative 279 | MSG RECVD 281 | Activity 281 | Economics Case Study Report 286 / Remember 290 | Chapter Exercise 291 | Reflective Discussions 291 | References 294 Peace Economics and Development Learning Objectives 315 | Looking Back 316 | Introduction 316 | Peace Economics 316 | Peace 317 | Peace Dividends 318 | 316 | Introduction 316 | Peace Economics 316 | Peace 317 | Peace Dividends 318 | Development Goals of the United Nations 321 | History 321 | MSG RECVD 323 | 316 | Introduction 316 | Peace Economics 316 | Peace 317 | Peace Dividends 318 | Demographic Dividends 319 | Transnational Chapter Exercise 311 | Reflective Discussions 312 | References 313 Peace Economics and Development Learning Objectives 315 | Looking Back 316 | Introduction 316 | Peace Economics 316 | Peace 317 | Peace Dividends 318 | Demographic Dividends 319 | Transnational Crime and Terrorism 320 | Social Peace Economics and Development Learning Objectives 315 | Looking Back Peace Economics and Development Learning Objectives 315 | Looking Back Enterprise Development 299 | MSG RECVD 301 | Activity 302, 307 | Remember 310 | Social Enterprise Development Learning Objectives 295 | Looking Back 296 | Introduction 296 | The Social Economy 297 | Example Initiatives 298 | Challenges 299 | Experiences in Social Chapter Exercise 311 | Reflective Discussions 312 | References 313
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FDI 219 | MSG RECVD 221 | Activity 221 | Remember 224 | Chapter Exercise 225 | Reflective Discussions 226 | References 227 Foreign Direct Investments Learning Objectives 214 | Looking Back 215 | Introduction 215 | Foreign Direct Investment 215 | Forms and Types 216 | Advantages and Disadvantages 217 | Pragmatic Approach to FDI 217 | FDI in the Philippines 218 | ASEAN
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2025 Higher Education Learning Solutions for the Business and Accountancy Program 91 16
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