ECONOMICS

 Economics focuses on the behaviour and interactions

of economic agents and
how economies work. Microeconomicsanalyzes basic
elements in the economy, including individual agents
and markets, their interactions, and the outcomes of
interactions. Individual agents may include, for
example, households, firms, buyers, and
sellers. Macroeconomics analyzes the entire economy
(meaning aggregated production, consumption,
savings, and investment) and issues affecting it,
including unemployment of resources (labour, capital,
and land), inflation, economic growth, and the public
policies that address these issues (monetary, fiscal,
and other policies). See glossary of economics.
 Branches of economics. The two
main branches of economics are
microeconomics and macroeconomics.
Macroeconomics is about the economy in
general. For example, if a country's wealth
goes up or if millions of people become
unemployed, those are things that
macroeconomists study.
General
economic rules
All people have to decide between their options.
 The cost of goods is what a person gives up for the goods.
 When a person gives up something (like money) to get a
good, they also give up other things that they could have
gotten instead. This means that the true cost of something
is what you give up to get it. This includes money, and the
economic benefits ("utility") that you didn't get because
you can no longer buy something else.This is
called opportunity cost.
 People react to encouragements ("incentives"). Making an
option more attractive will make more people choose it.
 Trade can make everyone better off.
 Markets are usually good for the organisation of economic
life. In the free market, goods will be shared by people and
companies making small decisions. The “invisible hand” of
the market (Adam Smith) states that if everyone tries to get
what they want, everyone will be as well-off as they could
possibly be.
 Sometimes prices do not fully show the cost or benefit to
society. For example, air pollution is bad for society, and
education is good for society. The government can put a tax
(or do something to reduce sales) on items that are bad for
society. It can also support (like giving money for) items
that are good for society.
 The living standard of a country depends on the skills to
produce services and goods. Productivity is the amount of
the produced goods divided by total working hours.
 When there is an increase in the total money supply, or
when the cost to produce things rises, prices go up. This is
called inflation.
 HISTORY OF
ECONOMICS
 The 18th century
is the century from 1701 to 1800.
Lots of things happened in the 18th century.
In warfare, pikes weren't used anymore and the most
popular type of gun was a Flintlock Musket. The most
important war was the seven years war. England united
with Scotland and conquered India,
the USA got independence from Britain and the first
fleet arrived in Australia. At the end of
the century France had a revolution which would lead
to Napoleon becoming the ruler of France in the next
century.
 Physiocracy
is (or was) a government basing its economical policies
on natural order. The economists thought that wealth came
mostly from agriculture. It is also an economic theory
developed by the physiocrats.
Classical economics
is the first modern school of economic thought. Its main
developers include Adam Smith, Jean-Baptiste Say, David
Ricardo, Thomas Malthusand John Stuart Mill.
Austrian School
is a school of economic thought based on the actions of the
individual person.[1][2][3][4] It started in late 19th and early
20th century Vienna, Austria.[5] It is referred to as Austrian
economics, because the primary economists were
Austrian although its followers are from all over the world
today.
 Neoclassical economics
is an economic theory that argues for markets to
be free. This means governments should generally not
make rules about types of businesses, businesses'
behaviour, who may make things, who may sell things,
who may buy things, prices, quantities or types of
things sold and bought. The theory argues that
allowing individual actors (people or businesses)
freedom creates better economic outcomes. These
outcomes may be a higher average standard of living,
higher wages, better average life-expectancies, and
higher GDP.
 Welfare economics
is a field of economics that looks at the problem of
allocating resources. It uses techniques
from microeconomics to assess general well-being.
From this assessment, it tries to find
an allocation of productive factors as to desirability
and economic efficiency within an economy, often
relative to competitive general equilibrium.[1] It
analyzes social welfare in terms of economic activities
of the individuals that compose the theoretical society
considered.
THE ECONOMIC
BASICS
The basic definition of scarcity
is slightly philosophical—
humans have unlimited
desires but the means of
production being finite and
limited (labor, land and
capital), various trade-offs are
to be made to allocate the
resources in the most efficient
way possible.
Economics Basics – Demand
& Supply

 It is perhaps one of the most fundamental tenets and

provides a fundamental framework in which to assess the
actions of an economy.

Definition of Demand: Demand is the quantity of a good
(or service) the buyers are willing to purchase at a
particular price.

Definition of Supply: Supply is the quantity of a good the
sellers are willing to deliver at a particular price. Meanwhile
price is a result of the constant tug-of-war between the
demand and supply.

 Economics Basics – Cost,
efficiency and scarcity
 Going by the geeky definition, opportunity cost is the value
of the next-highest-valued substitute use of that resource.
For instance you may forego going to the physics class for a
session of LAN gaming, but the risk of not understanding
subsequent lectures and flunking the semester is the
opportunity cost you should be aware of. Every entity has a
different point-of-view regarding this opportunity cost as
the needs and resources of entities keep shifting with time

 Economic efficiency is the measure of output obtained with

a given set of inputs, i.e. least amount of wastage.
Technological ability usually decides the upper limit for the
maximum efficiency which can be achieved.

 Economic Growth

 Economic growth means an increase in real GDP –

which means an increase in the value of national
output/national expenditure.
 Economic growth is an important macro-economic
objective because it enables increased living standards,
improved tax revenues and helps to create new jobs.

 Causes of economic growth

 Costs/benefits of economic growth
 Policies to improve economic growth
 Different types of economic growth
 Recessions (negative economic growth
 PHILIPPINE
HISTORY
 The history of the Philippines from 1521 to
1898, also known as the Spanish colonial
period, was a period during which Spain
controlled the Philippine islands as the
Captaincy General of the Philippines,
initially under New Spain until Mexican
independence in 1821, which gave Madrid
direct control over the area.
 The history of the Philippines from 1521 to 1898, also
known as the Spanish colonial period, was a period
during which Spain controlled the Philippine islands as
the Captaincy General of the Philippines, initially
under New Spain until Mexican independence in 1821,
which gave Madrid direct control over the area. It was also
known as Spanish East Indiesto the colonialists. It started
with the arrival in 1521 of European explorer Ferdinand
Magellan sailing for Spain, which heralded the period
when the Philippines was a colony of the Spanish Empire,
and ended with the outbreak of the Philippine
Revolution in 1898, which marked the beginning of
the American colonial era of Philippine history.
 Magellan
 lthough the archipelago may have been visited before
by the Portuguese (who conquered Malacca City in 1511
and reached Maluku Islands in 1512), the earliest
documented European expedition to the Philippines
was that led by Ferdinand Magellan, in the service of
the king of Spain. But before they go to Samar and
Leyte they went to Cebu but they did not pass,sighted
the mountains of Samar at dawn on the 16th March
1521, making landfall the following day at the small,
uninhabited island of Homonhon at the mouth of
the Leyte Gulf.
The Manila Galleons were also known in New Spain
as "La Nao de la China" (The China Ship) on their
return voyage from the Philippines because they
carried mostly Chinese goods, shipped from
Manila.[2]
The Mexico Galleon trade route was inaugurated in
1521 after Augustinian friar and navigator Andrés de
Urdaneta discovered the tornaviaje or return route
from the Philippines to Mexico. The first successful
round trips were made by Urdaneta and by Alonso
de Arellano that year. The route lasted until 1815
when the Mexican War of Independence broke out.
The Manila galleons sailed the Pacific for 900 years,
bringing to the Americas cargoes of luxury goods
such as spices and porcelain, in exchange for silver.
Malacañan Palace (colloquially "Malacañang"; Filipino: Palasyo ng Malacañang (or Malakanyang), pronounced [paˈlɐ̞ʃo näŋ maläkɐˈɲäŋ]; Spanish: Palacio de Malac

Malacañan Palace (colloquially

"Malacañang"; Filipino: Palasyo ng
Malacañang (or
Malakanyang), pronounced [paˈlɐ̞ʃo
näŋ maläkɐˈɲäŋ]; Spanish: Palacio
de Malacañán, pronounced [paˈla.θjo
ðe malakaˈɲan]) is the official
residence and principal workplace of
the President of
the Philippines located in the capital
city of Manila. The Palace is in fact a
complex of buildings built largely
in Bahay na
Intramuros (Spanish for "within the
walls") is the 0.67 square kilometers
(0.26 sq mi) historic walled area within the
modern city of Manila, the capital of
the Philippines. It is administered by
the Intramuros tAdministration (IA), which
was created hrough the Presidential Decree
No. 1616 signed on April 10, 1979.[2] IA is
tasked to rebuild, redevelop, administer
and preserve the remaining pre-war
buildings, structures and fortifications of
Intramuros.
"Maynila" and "Maynilad" redirect here. For
the TV series, see Maynila (TV series). For
related water companies, see Maynilad
Water Services and Manila Water.
This article is about the capital city of the
Philippines. For the region, see Metro
Manila. For other uses, see Manila
(disambiguation).
PHILIPPINE HISTORY SUMMARY
 The Philippines is named after King
Philip II of Spain (1556-1598) and it was a
Spanish colony for over 300 years. Today
the Philippines is an archipelago of 7,000
islands. However it is believed that during
the last ice age they were joined to
mainland Asia by a land bridge, enabling
human beings to walk from there.

The Philippines in the 19th Century
 In 1872 there was a rebellion in Cavite but it was quickly
crushed. However nationalist feeling continued to grow
helped by a writer named Jose Rizal (1861-1896). He wrote
two novels Noli Me Tangere (Touch me Not) and El
Filibusterismo (The Filibusterer) which stoked the fires of
nationalism.
 In 1892 Jose Rizal founded a movement called Liga Filipina,
which called for reform rather than revolution. As a result
Rizal was arrested and exiled to Dapitan on Mindanao.
 Meanwhile Andres Bonifacio formed a more extreme
organisation called the Katipunan. In August 1896 they
began a revolution. Jose Rizal was accused of supporting
the revolution, although he did not and he was executed on
30 December 1896. Yet his execution merely inflamed
Filipino opinion and the revolution grew.
 The Philippines in the 20th
Century
 the Thomas and they did increase literacy.
 In 1935 the Philippines were made a commonwealth and were
semi-independent. Manuel Quezon became president. The USA
promised that the Philippines would become completely
independent in 1945.
 However in December 1941 Japan attacked the US fleet at Pearl
Harbor. On 10 December 1941 Japanese troops invaded the
Philippines. They captured ManiAmerican rule in the
Philippines was paternalistic. They called their policy
'Benevolent Assimilation'. They wanted to 'Americanize' the
Filipinos but they never quite succeeded.
 However they did do some good. Many American teachers were
sent to the Philippines in a ship called la on 2 January 1941. By 6
May 1942 all of the Philippines were in Japanese hands.

 The Philippines in the 21st
Century
 Today the Philippines is still poor but things are
changing. Since 2010 the Philippine economy has
grown at about 6% a year. Today there is reason to be
optimistic for the future. Today the population of the
Philippines is 103 million.

 Philippine history trivia facts
 8 Amazing Facts From Philippine History You
Never Learned in...
 There were three other martyr priests aside from
“Gomburza.”
 The first American hero of World War II was killed in
combat in the Philippines.
 Philippines' leper colony had their own “Leper
Money. ...
 Before martial law, there was the Colgante Bridge
Tragedy.
 ENTREPRENEURSHIP
 Entrepreneurship is the act of creating a business or businesses while building
and scaling it to generate a profit.
 However, as a basic entrepreneurship definition, it’s a bit limiting. The more
modern entrepreneurship definition is also about transforming the world by
solving big problems. Like initiating social change, creating an innovative
product or presenting a new life-changing solution.
 What the entrepreneurship definition doesn’t tell you is that entrepreneurship
is what people do to take their career and dreams into their hands and lead it in
the direction of their own choice. It’s about building a life on your own terms.
No bosses. No restricting schedules. And no one holding you back.
Entrepreneurs are able to take the first step into making the world a better
place, for everyone in it.

An entrepreneur is a person who sets up a business with the aim to make a
profit.
 This entrepreneur definition can be a bit vague but for good reason. An
entrepreneur can be a person who sets up their first online store on the side or a
freelancer just starting out.

 The Princeton Review's Top Schools
for Entrepreneurship Studies for 2019
 University of Michigan.
 University of Houston (TX)
 Babson College (MA)
 Brigham Young University (UT)
 Northeastern University (MA)
 Baylor University (TX)
 Washington University in St. Louis (MO)
 University of Maryland.
 The Top Skills Every Entrepreneur Needs

 Resiliency.
The ability to weather the ups and downs of any
business since it never goes exactly the way the
business plan described it. This skill enables the
entrepreneur to keep going when the outlook is bleak.
Focus.
After setting a long term vision, knowing how to “laser
focus” on the very next step to get closer to the
ultimate goal. There are so many distracting forces
when trying to build a business that this skill is not
easy to master.
 Invest for the long-term.
Most entrepreneurs are not patient and focus only on
what comes next, rather than where the company
needs to go. Overnight success may take 7 to 10 years.
Entrepreneurs need to stop, pause and plan on a
quarterly basis.
Find and manage people.
Only by learning to leverage employees, vendors and
other resources will an entrepreneur build a scalable
company. They need to learn to network to meet the
right people. Entrepreneurs strive to guarantee they
will get honest and timely feedback from all these
sources.
 Sell.
Every entrepreneur is a sales person whether they want
to be or not. They are either selling their ideas,
products or services to customers, investors or
employees. They work to be there when customers are
ready to buy. Alternately, they know how to let go and
move on when they are not.
 Learn. Successful entrepreneurs realize they don’t
know everything and the market is constantly
changing. They stay up to date on new systems,
technology, and industry trends.
 Self-reflection.
Allow downtime to reflect on the past and plan for
the future. Always working only leads to burnout
physically and emotionally.
 Self-reliance:
While there is a lot of help for the entrepreneur, in
the end, they need to be resourceful enough to
depend on themselves
Entrepreneurial Skills Training
 for Youth. ... Enterprise development which provides
supports and services that incubate and help youth
develop their own businesses, such as helping youth
access small loans or grants and providing more
individualized attention to the development of viable
business ideas
 Entrepreneurial Skills Training for
Youth
 Entrepreneurship education
that provides an introduction to the values and basics of starting
and running a business, such as developing a business plan and
simulations of business start-up and operation.
 Enterprise development
which provides supports and services that incubate and help youth
develop their own businesses, such as helping youth access small
loans or grants and providing more individualized attention to the
development of viable business ideas.
 Experiential programs
that provide youth with experience in the day-to-day operation of a
business.

 Entrepreneurship development is the process of
improving the skills and knowledge
of entrepreneursthrough various training and
classroom programs. The whole point
of entrepreneurship developmentis to increase the
number of entrepreneurs.

 Business Ideas for College Students
 Blogger. Blogging can offer great opportunities for
college students. ...
 Virtual Assistant. ...
 Tutor. ...
 YouTube Personality. ...
 Social Media Manager. ...
 Social Media Influencer. ...
 Social Media Consultant. ...
 Podcaster.
 College can be a great time to explore
entrepreneurship. And there are plenty of
different business opportunities that college
students can start without a lot of upfront
expense or time commitment. Here are 50
potential small business opportunities for
college students.