LEON GUINTO MEMORIAL COLLEGE, INC.

443 Mabini street, Zone 2 Población Atimonan, Quezon

(Recognized by the Government)
No. 010 s.1986

teaching minds… changing lives… moving forward…

Course Title ECONOMIC DEVELOPMENT

Course Code ECON 103
School Year &
2ND SEMESTER SY 2024 – 2025
Semester
Name of Faculty
DONALD PAR VILLAMARZO
Member
Leon Guinto Memorial College, Inc. is a community that provides equal opportunity for learners to
LGMC Vision actively participate in their development as responsible leaders in their chosen fields of endeavor
and cultivates a culture of service to mankind for the greater glory of God.
Leon Guinto Memorial College, Inc. aims to maintain a standard of education that will harness the
LGMC Mission
full potential of each student based on their skills set and aptitudes.
Leon Guinto Memorial College, Inc. believes that education aims at the total development of
LGMC Philosophy individuals, imbued with knowledge and skills and Filipino values for the enhancement of nation
building.
This course provides an in-depth understanding of economic development, focusing on theories,
policies, and practices relevant to the Philippine setting. It examines the country's economic
Course Description
growth, challenges, and strategies for sustainable development, with an emphasis on poverty
alleviation, inequality, and globalization.
By the end of this course, students should be able to:
1. Understand the theories and concepts of economic development.
2. Analyze the economic development challenges and opportunities in the Philippines.
3. Evaluate the role of government policies, institutions, and international trade in economic
Learning Outcomes
development.
4. Explore sustainable development strategies and their application in the Philippine context.
5. Develop critical thinking and problem-solving skills through case studies and real-world
applications.
Course Outline: WEEK 1: GENERAL ORIENTATION OF THE SUBJECT ECONOMIC DEVELOPMENT
WEEK 2-3: INTRODUCTION TO ECONOMIC DEVELOPMENT
1. Definition and measurement of economic development
2. Differences between economic growth and economic development
3. Key indicators of development (GDP, GNI, HDI, etc.)
4. Philippine economic development overview
Readings:
Todaro, M. P., & Smith, S. C. (2020). Economic Development (13th ed.). Pearson.
Philippine Statistics Authority (PSA). (2023). Philippine Development Report. [Online]
Available: https://psa.gov.ph
WEEK 4-5: THEORIES OF ECONOMIC DEVELOPMENT
1. Classical and neoclassical theories
2. Structural change theory
3. Dependency theory
4. Endogenous growth theory
5. Application of theories to the Philippine context
Readings:
Ray, D. (1998). Development Economics. Princeton University Press.
Balisacan, A. M., & Hill, H. (Eds.). (2003). The Philippine Economy: Development,
Policies, and Challenges. Oxford University Press.
WEEK 6-7: PHILIPPINE ECONOMIC HISTORY AND STRUCTURE
1. Pre-colonial, colonial, and post-colonial economic systems
2. Marcos era and economic policies
3. EDSA Revolution and economic reforms
4. Contemporary economic structure (agriculture, industry, services)
 Readings:
De Dios, E. S. (2016). The Philippine Economy: No Longer the East Asian Exception?.
Philippine Review of Economics.
National Economic and Development Authority (NEDA). (2023). Philippine Development
Plan 2023-2028. [Online] Available: https://neda.gov.ph
WEEK 8-9: POVERTY, INEQUALITY, AND HUMAN DEVELOPMENT
1. Poverty and inequality in the Philippines
2. Human Development Index (HDI) and its components
3. Government programs for poverty alleviation (4Ps, CCT, etc.)
4. Challenges in achieving inclusive growth
Readings:
World Bank. (2023). Philippines Economic Update. [Online]
Available: https://worldbank.org
Asian Development Bank (ADB). (2023). Poverty in the Philippines: Causes, Constraints,
and Opportunities. [Online] Available: https://adb.org
WEEK 10-11: SUSTAINABLE DEVELOPMENT AND ENVIRONMENTAL ECONOMICS
1. Sustainable Development Goals (SDGs) and the Philippines
2. Environmental challenges (climate change, deforestation, pollution)
3. Green economy and renewable energy initiatives
4. Case studies on sustainable development projects in the Philippines
Readings:
United Nations Development Programme (UNDP). (2023). Sustainable Development
Goals in the Philippines. [Online] Available: https://undp.org
Department of Environment and Natural Resources (DENR). (2023). Philippine
Environmental Policies. [Online] Available: https://denr.gov.ph
WEEK 11-12: Globalization and the Philippine Economy
1. Impact of globalization on the Philippine economy
2. Role of OFWs and remittances
3. Trade policies and international agreements (ASEAN, WTO, RCEP)
4. Challenges and opportunities in a globalized economy
Readings:
Bautista, R. M., & Teeson, G. (2003). The Philippine Economy: On a Flight of a Swan.
Philippine Institute for Development Studies (PIDS).
Bangko Sentral ng Pilipinas (BSP). (2023). Overseas Filipino Remittances Report. [Online]
Available: https://bsp.gov.ph
WEEK 13-14: FUTURE DIRECTIONS AND POLICY RECOMMENDATIONS
1. Emerging trends in economic development (digital economy, AI, etc.)
2. Policy recommendations for inclusive and sustainable growth
3. Role of youth and civil society in economic development
Readings:
Philippine Institute for Development Studies (PIDS). (2023). Policy Notes and
Development Research. [Online] Available: https://pids.gov.ph
NEDA. (2023). AmBisyon Natin 2040. [Online] Available: https://neda.gov.ph
WEEK 15-16 :Final Review and Case Study Presentations
1. Review of key concepts and theories
2. Case study presentations on local economic development
3. Group Presentation - Assignment: Present a policy analysis on a local development issue
WEEK 17: FINAL EXAM AND COURSE WRAP-UP
Assessment and Prelim Exam : 30%
Evaluation: Midterm Exam : 30%
Final Exam : 40%
Total : 100%
Required Texts and Online References:
Online Resources: 1. Philippine Statistics Authority (PSA): https://psa.gov.ph
2. National Economic and Development Authority (NEDA): https://neda.gov.ph
3. Bangko Sentral ng Pilipinas (BSP): https://bsp.gov.ph
4. World Bank Philippines: https://worldbank.org
5. Asian Development Bank (ADB): https://adb.org
6. Philippine Institute for Development Studies (PIDS): https://pids.gov.ph
Prepared by:

DONALD PAR VILLAMARZO _______________________

Faculty Member Date Submitted

Reviewed and checked by:

JORGE C. ANDANAR, CPA

Dean, College of Business and Accountancy

Received and noted by:

JUNE ERNEST M. TESORIO

College Department Head

Approved by:

MYLENE P. LACUESTA
Vice President for Academic Affairs