Economics for Filipinos

Edition: Print


Economics for Filipinos
by Dr. Bernardo Villegas and Mr. Louie Molina

Economics for Filipinos, as it is aptly named, acknowledges the Filipinos’ need for a deeper understanding of economic principles that are relevant to their reality, whether they realize it or not. The book introduces economics as an interaction of individual choices—a concept that is relatable to all. The authors, both seasoned economics educators, go by Nobel laureate Paul Samuelson’s time-honored principle that “to be a good economist, you must be a good political economist.” Hence, the book takes on a multifaceted approach, where basic economics principles are supplemented by the authors’ helpful insights and observations on current issues related to economics in the country and across the globe. Importantly, the text never takes for granted the relevance of economics in real-life situations, and always aims to show the reader its principles at play in the big picture.

While Economics for Filipinos covers all the bases at length, non-economics majors may still appreciate the book’s in-depth look at economic processes, as well as its approach at economics as a social science.



Foreword by Ruben M. Nayve, Jr., PhD

Unit I - Economics and the Filipino Citizen

Chapter 1 - Economics as a Social Science

Chapter 2 - Needs and Wants, and Goods and Services

Chapter 3 - Consumption and the Filipino Consumer

Chapter 4 - Production and Economic Resources

Chapter 5 - Scarcity, Choice, and Allocation

Chapter 6 - Economic Systems

Chapter 7 - The Market Economy in the Philippines

Unit II - Microeconomics

Chapter 8 - Consumers Demand for a Product

Chapter 9 - Producers Supply of a Product

Chapter 10 - The Law of Supply and Demand

Chapter 11 - Competition and Entrepreneurship

Chapter 12 - Market Structure I: Competition Among the Many

Chapter 13 - Market Structure II: The Absence of Competition

Chapter 14-  Market Structure III: Competition Among the Few

Unit III - Macroeconomics

Chapter 15 - The National Economy

Chapter 16 - The Measurement of National Income

Chapter 17 - Monetary Sector

Chapter 18 - Fiscal Sector

Chapter 19 - The External Sector

Chapter 20 - Economic Growth and Development

Chapter 21 - Economic Development and Beyond


Key Features:

  • Unit Opener
  • Chapter Opener
  • Lesson Proper
  • Marginal Notes
  • Key Ideas
  • Review Questions
  • Web Resources and Links



BERNARDO M. VILLEGAS is known to generations of students as teacher and author of textbooks in economics. He served as the first dean of the School of Economics of the University of Asia and the Pacific. He was one of the framers of the 1987 Philippine Constitution. He sits in the board of various foundations and some of the leading corporations in the country. He obtained his PhD in Economics from Harvard University and his AB Liberal Arts-BS Commerce from De La Salle University. Currently, he writes a regular column for the Manila Bulletin and is Director for Research of the Center for Research and Communications Foundation which he co-founded.

LUIS M. MOLINA has taught economics to graduate, undergraduate and high school students for close to two decades. He served as the first college secretary of the School of Economics of the University of Asia and the Pacific (UA&P). He also served as consultant of the Department of Education (DepEd) in the drafting of learning and teaching resources for economics under the K to 12 curriculum. He took undergraduate studies in geodetic engineering from University of the Philippines-Diliman, graduate studies in industrial economics from the UA&P, and professional studies on teaching proficiency from Philippine Normal University. Currently, he heads the Center for Economics Education of the Research, Education, and Institutional Development Foundation

480 pages

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