The Equilibrium Issue I (March 2021)

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IN THIS ISSUE INTRODUCTION FEATURES 3 Foreword 18 KUMUSTAHAN: Stories beyond by the Business Economics the Virtual Walls of the Department Chair Online Set-up by Charlize Keri B. Hernandez 4 The Equilibrium Staff 2 2 Seizing Constraints in the NEWS Normal and New Normal 7 The 2020 Economy in 3 0 What are the things I learned Retrospect while flying for 6 years? by The Equlibrium by Abbie Jun C. Abejay Managing Staff 3 2 Goals Reached Continuously 8 ARISE or CREATE Shift Rightward by Justine C. Hipolito by Jessa Mae E. Adriatico 1 0 Thesis in the Midst of a 3 4 A Poem for Frontliners Pandemic by Angelica Anne M. Quintana by Vien Blanch Z. Gaton 3 6 The Fallacy of Heroism EDITORIAL According to Children by Rianne Jill R. Motas 12 COLLAB TO ZOOM: THE METAMORPHOSIS OF THE ENTERTAINMENT ONLINE SET-UP by Rianne Jill R. Motas 4 0 WISH by Hans Angelo M. Enriquez 1 5 Deadline Reported 4 2 ECOKNOWMICS! cartoon by Pauline Alaiza B. Mercado

Foreword From the Department Chair With the unprecedented arrival of this pandemic, inevitably brought with it, extreme unrest in almost all shapes and sizes, which negatively affected everyone, in one way or the other. Consequently, all actions are done and decisions made to deliver outcomes, have always been surrounded by doubts and self-criticism. Therefore, this, unfortunately, has left one’s confidence at the ebb, unpleasantly probing the validity of each decision, leading to sleepless nights and tense nerves, with a constant stressful inquiry in mind, “Can it be done?” With the unprecedented arrival of this pandemic, inevitably brought with it, extreme unrest in almost all shapes and sizes, which negatively affected everyone, in one way or the other. Consequently, all actions are done and decisions made to deliver outcomes, have always been surrounded by doubts and self-criticism. Therefore, this, unfortunately, has left one’s confidence at the ebb, unpleasantly probing the validity of each decision, leading to sleepless nights and tense nerves, with a constant stressful inquiry in mind, “Can it be done?” Correspondingly, there are significant deliverables required from the department and with the weight of the pandemic lingering around, the realization of outcomes has been challenging. Nonetheless, the department must still bring to the table these expected outcomes, despite the psychological and emotional toll brought by the dreaded virus. Fortuitously, the unquestionable commitment and the untiring endurance of everyone involved in this project, as manifested for every virtual meeting lasting for hours, have completely paid off; thus, the new issue for Equilibrium has finally been digitally released. The Equilibrium is the official newsletter of the Business Economics department, created for the purpose of disseminating both academic and non-academic materials, pertinent to the needs of the students, faculty, parents, administrators, and the community at large. Likewise, it is a means to communicate the various important activities implemented during an academic year, relevant to substantiate the curricular promise, that is, preparing the students to be fully equipped with 21st century skills that emphasize both quantitative and qualitative research, with strong foundations in Mathematics, Statistics, and Econometrics. What’s more, as a medium, the Equilibrium intends to strengthen the relationship, between the college and the alumni, as evidenced by articles especially allotted for the latter dubbed as “Alumni Write up”, which focuses on their respective professional journey. With the physical restrictions enforced by the national government, the department, along with the dependable and hardworking editorial staff and executive board officers of UST Economic Society, has decided to release and publish this newsletter, for the first time, in its digital format, keeping in spirit the advocacy for a paperless workplace. The link is available for everyone. Enjoy your meaningful reading and expect another equally engaging issue. Business Economics Department Chair MARCH 2021 THE EQUILIBRIUM 3

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EDITORIAL BOARD STAFFERS Editor-in-Chief Managing Staff Jessa Mae E. Adriatico Audre Garett M. Balayan Managing Editor Pia C. Valenzua Maria Ranja Victoria M. Porras Patricia Margaret P. Layog Associate Editor Writer Vien Blanch Z. Gaton Charlize Keri B. Hernandez Chief Layout Artist Justice Nicole C. Hipolito Raziela Thea SD. Evangelista Rianne Jill R. Motas Chief Artist Artist Hans Angelo M. Enriquez Pauline Alaiza B. Mercado Layout Artist Mikaela Nicole S. Cabral Winona Miranda Reb J. Sumistrado Contributors Angelica Anne M. Quintana Abbie Jun C. Abejay MARCH 2021 THE EQUILIBRIUM 5



JANUARY - MARCH 01 THE Taal Volcano Inflation remained Nationwide lockdown rupture comfortably within due to COVID-19 BSP’s target range pandemic Public spending The Philippine peso ECONOMY IN accelerated in March appreciated Fixed investment The services sector The manufacturing RETROSPECT growth contracted by slowed from 7.1% in industry contracted by the first quarter of 4.3%, year-on-year 2019 to 1.4% in the 3.6%, year-on-year same period in 2020 QUARTER 02 APRIL - JUNE 40% of households 18.9% decrease in The agricultural sector ECQ/MECQ shut down GDP fell by 16.9%; the reporting a fall in imports managed to grow by 75% of the economy unemployment rate income 0.5% increase by 17.7% Hunger rate was at 30.7% Non-essential spending Loss of 0.28% points from GDP growth every week of in September contracted to 51% ECQ/MECQ in NCR and nearby regions which is equivalent to ₱ 2.1 billion pesos lost in wages a day during MECQ and 700 million pesos lost in wages a day during GCQ. GDP relaxed to -11.5% from Philippine economy is the 16.9% fall during the projected to contract by 7.3% second quarter in 2020 then growth returns to 6.5% in 2021 QUARTER JULY - SEPTEMBER 03 The unemployment rate The country’s overall fiscal decreased to 8.7% health remains sound REFERENCES Asian Development Bank. (2020, September 15). Philippines Economy to Decline Hunger rate fell to 15.7% in A forecast of 5.9% Foreign Direct Investments Further in 2020 Amid COVID-19, With Recovery in 2021. Retrieved from November 2020 from growth this 2021 in the country rose by 29% https://www.adb.org/news/philippine-economy-decline-further-2020-amid-covid- 30.7% in September and 6.0% in 2022 19-recovery-2021. to $6.4 billion in 2020 Magkilat, B. (2021, January 25). PH bucks trend, FDI rose 29% in 2020 – UNCTAD. Manila Bulletin. https://mb.com.ph/2021/01/25/ph-bucks-trend-fdi-rose-29-in-2020- unctad/. National Economic and Development Authority. (2020, December 17). 2020 YEAR- END STATEMENT OF ACTING SOCIOECONOMIC PLANNING SECRETARY KARL KENDRICK T. CHUA. Retrieved from https://www.neda.gov.ph/2020-year-end- statement-of-acting-socioeconomic-planning-secretary-karl-kendrick-t-chua/. National Economic and Development Authority. (2020, December A rebound is expected in 2021, just as the economy is further opened as the outbreak is contained. The QUARTER30). Losses and Setbacks in 2020 Offer Lessons to Recover Together in drawback is that a slower global recovery is to be 2021 - NEDA. Retrieved from https://www.neda.gov.ph/losses-and-set expected in the following year. backs-in-2020-offer-lessons-to-recover-together-in-2021-neda/. 04 OCTOBER - DECEMBER World Bank. (2020, June 1). Philippines Economic Update, June 2020: Braving the New Normal. World Bank, Washington, DC. © World Bank. Retrieved from https://openknowledge.worldbank.org/handle/10986/33879 License: CC BY 3.0 IGO. MARCH 2021 THE EQUILIBRIUM 7

by Justine Nicole C. Hipolito

D hit which affected a ue to the COVID - 19 CONT... and foreign corporations will benefit from this too; from the pandemic, many reduction of 30% to 25% corporate income tax. Hopefully, this act of businesses have been parliament will be able to greatly assist the Micro, Small, and Medium great number of Enterprises (MSMEs). Moreover, other agendas of the said bill are to workers (Filipwinoorskeinrscluded) around give fiscal and non-fiscal assistance to what the government the world. At this point, around 11 sees as the priorities and net operating loss carryover. million Filipino workers have lost Additionally, both House Bill No. 6815 their jobs and have experienced a and Senate Bill No. 1357 were already passed and officially reduction in their incomes. named Accelerated Recovery and Investments Stimulus for the Consequently, there have been Economy (ARISE) Philippines Act, and Corporate Recovery and Tax several bills proposed both in the Incentives for Enterprises (CREATE) Act, respectively. senate and congress, to aid the Correspondingly, the two bills are Filipino citizens. different from each other. On the one hand, ARISE focuses on First is the House Bill No. 6815, also stimulating the economy by fiscal Layout by: Thea Evangelista known as Accelerated Recovery spending and employment. On the and Investments Stimulus for the other hand, CREATE concentrates on Economy or more commonly cutting corporations’ corporate referred to as ARISE. This bill aims income tax. Similarly, people may to first, allot money for fiscal prefer one over the other; however, stimulus, second, ensure business whichever one picks, including why continuity, and third, create new such is chosen, is all about short-term jobs, subsequently perspectives; nonetheless, both protecting and supporting the have the same intention—to help workers. In addition, its scope Filipinos recover. includes the (a) construction of essential infrastructures, (b) References: AHK News. (2020, August 07). House Bill 6815: ARISE Philippines Act. Retrieved assistance to the most affected January 18, 2021, from https://philippinen.ahk.de/en/news/news-details/house-bill-6815-arise- sectors of the economy, and (c) philippines-actFriedrich Naumann Foundation. (2020, August 08). | ARISE Philippine Act: Flatten subsidies for both workers and the Curve, Not the Economy. Retrieved January 18, 2021, from students. https://www.freiheit.org/manila/arise-philippine-act-flatten-curve-not-economy | Lazo, N., & Rodriguez, B. (2020, December 15). 10.9 million Filipinos lost jobs, had lower incomes due to Second is the Senate Bill No. 1357, COVID-19 pandemic: ILO. Retrieved January 19, 2021, from https://news.abs- also known as Corporate Recovery cbn.com/business/12/15/20/109-million-filipinos-lost-jobs-had-lower-incomes-due-to-covid- and Tax Incentives for Enterprises 19-pandemic-iloLim, J. (2020, September 17). | ARISE, not CREATE! Retrieved January 19, 2021, or CREATE. The highlight of this bill from https://businessmirror.com.ph/2020/09/17/arise-not-create/P&A | Grant Thornton. (2020, is to reduce the country’s corporate December 10). Proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE). income tax, from 30% to 20%, for Retrieved January 19, 2021, from https://www.grantthornton.com.ph/newsroom/technical- domestic corporations, with total alerts/tax-alert/2020/proposed-corporate-recovery-and-tax-incentives-for-enterprises-act- assets (excluding land) of Php 100 create/ | Philippine News Agency. (2020, November 27). Passage of CREATE to hasten PH million and below, with a net economic recovery: NEDA. Retrieved January 19, 2021, from taxable income of not more than https://www.pna.gov.ph/articles/1123185Pricewaterhouse | Coopers. (2020, November 27). Tax Php 5 million. Also, other domestic Alert No. 91 [Senate Bill (SB) No. 1357 or The Corporate Recovery and Tax Incentives for Enterprises Act (CREATE)]. Retrieved January 19, 2021, from https://www.pwc.com/ph/en/tax- alerts/2020/tax-alert-91.html MARCH 2021 THE EQUILIBRIUM 8

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Reaseseaarcrchh11((CCOOM5020)) is the first of CONT... topic, the groups must Layout by: Thea Evangelista choose a topic that the members are the four output-based technical passionate about pursuing. Although courses to be undertaken by Business COVID-19 related topics are timely Economics students, before being and compelling, it may be a difficult deemed eligible for graduation. endeavor since data and related Output-based courses pertain to an literature of the subject are limited. actual, physical end-result, to Lastly, the selection of the thesis confirm that the student has adviser depends on whether the completed the course. Research 1 is group’s topic is in line with the to be taken by third year students expertise of its chosen Business this second term and will focus on Economics Faculty. On one hand, if their research proposals, in the first choice of the adviser will be preparation for Research 2. unable to cater to the group’s needs, the group will have to settle on their Asst. Prof. Marie Antoinette L. Rosete, next adviser of choice, or until a MDE, the course instructor of faculty member has agreed to take COM5020 for all the third year the group under his/her wing. On the Business Economics sections, allotted other hand, in the event that a group the first synchronous sessions to has not been accepted by any introduce the course and address Business Economics Faculty, Asst. various inquiries. Furthermore, she Prof. Rosete will be the group’s has outlined the required outputs of adviser by default. the course—an approved topic, the first three chapters of the research, The COVID-19 pandemic has brought defense, and complying with post- changes in the life of people, defense revisions. She then discussed especially those in the education the frequently asked questions sector. As learning has been remotely regarding the course. On forming conducted, it is inevitable for groups, a maximum of three challenges to arise throughout the members is allowed. Contrary to the process. Due to the unforeseen common practice of the previous events faced by the world, it is the batches that the group members first time for the Business Economics came from a single section, it is Department to experience conducting conventional for this batch that the theses through online methods. group members are scattered across Despite the hurdles, the Department the four sections. Asst. Prof. Rosete is looking forward to seeing these has warned the students to choose students prove that Business their group mates wisely, because Economics majors will be able to should conflicts arise within the utilize their skills and limited group, the output would also suffer. resources with efficiency. For example, should a group decide to go separate ways in the middle of MARCH 2021 THE EQUILIBRIUM 9 the term, disputes over custody of the thesis topic would be grueling, and in this case, neither would be able to keep it. With regards to the top

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THE METAMORPHOSIS OF THE ONLINE SETUP BY: RIANNE MOTAS After the first term, the list of pros and cons of online learning certainly got longer. For one, numerous reports and complaints had been tossed around within the first half of the academic year, regarding Blackboard Collaborate. These feedbacks were considered by the University with utmost importance, as its administrative body desired to provide more convenience to both the students and the faculty, with regards to “enriched virtual learning.” The aftermath of the first term was treated as a catalyst for change; despite Blackboard Collaborate being the preferred and prescribed platform for the University’s online discussions, for the latter part of last term, it decided to include Zoom as another alternative channel for synchronous sessions. 12 THE EQUILIBRIUM MARCH 2021

Adaptation in education is crucial, especially during these uncertain times. The transition affected students and course instructors alike. The College of Commerce and Business Administration professors expressed their approval regarding the transition from Blackboard Collaborate to UST Zoom as they deemed the latter platform more stable and convenient when it comes to internet connectivity. Asst. Prof. Al Faithrich C. Navarrete, PhD, the College Secretary of the College of Commerce and Business Administration voiced his preference for Zoom because of its functionality and features, saying that the platform mentioned above enhances online discussion. Zoom’s functionality, down to its steady connectivity, wins the favor of Sir Navarrete and the rest of the faculty of the Business Economics department, who is also in complete agreement with the new online discussion platform. However, most of the faculty still prefer Google Meet for its simplicity in design and integrated functions. MARCH 2021 THE EQUILIBRIUM 13

Adjusting is never easy as change can be uncomfortable most of the time. At the beginning of the school year, the College of Commerce and Business Administration students and other students of the University were briefed about the technicalities of Blackboard and Blackboard Collaborate. Nonetheless, the majority of the students were suffering from connectivity issues that caused them to miss discussions. Most favored the transition to UST Zoom as the platform did not require as much bandwidth as Blackboard Collaborate, making its accessibility and availability more suitable for the online setup. With fewer connectivity issues, the students now have one less problem off their plates while battling these challenging times. 14 THE EQUILIBRIUM MARCH 2021

The takeover of digital learning took a faster pace as Layout by: Mikaela Cabral education is now taking a shorter digital highway due to this cruel pandemic. The only solace that the University can offer is the accessibility and simplicity of the tools they prepare for students and faculty. The transition may be a nanoscopic event in the far future, but it provided the needed comfort for everyone today. MARCH 2021 THE EQUILIBRIUM 15





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The Business Economics Confluence 2019 BY: JESSA MAE E. ADRIATICO It is no longer uncommon for students to be lost, as they begin to wonder which path they should be walking towards their bright future. Some seem to have already brought the pieces of their identity together; however, some unlucky students are still tangled in knowing who they truly are, and what they exactly desire to be. Consequently, to guide those roving souls inhabiting the bodies of those passionate and striving students, the College of Commerce and Business Administration, in collaboration with the UST Economics Society, spearheaded the Business Economics Department’s confluence, accordant with the 2019 Commerce Week’s theme, “Convene and Converge Towards Responsive Business Leaders”. The seminar had three inspirational speakers, who broadened the students’ perspectives on the significance of recognizing and understanding one’s individuality. The first speaker, Mr. Aldrin Atienza, MBA, Sales and Marketing Manager of the Plastimer Industrial Corporation, educated the students as to why they are in the Business Economics program. For him, it is because of desperation, inspiration, and determination. Furthermore, he explained how Economics can be interspersed in his workplace along with his daily life. 24 THE EQUILIBRIUM MARCH 2021

Meanwhile, Mr. Roberto S. Tejuco, Jr., Assistant Vice President-Relationship Manager of the Security Bank Corporation, characterized business leaders as people who remodel people and produce more leaders. He stated that being reliable at all times and strong enough to overcome challenges are some of the characteristics a business leader should possess. He also emphasized the implication of knowing economic terms, theories, and laws in the workplace, which may help one formulate good decisions and judgments. Lastly, Mr. Ken Silverio Ucang, Managing Director of Heroes Volleyball Program and Heroes Active Plus, talked about his journey as an Economics student graduate and explained that one must know himself and create an opportunity out of it, along with having his own “me” to stand out. As students, we often land in a particular setting, wherein we are completely clueless because we do not have any definite ideas on what we want in life. Accordingly, we choose certain college degrees because we just happen to choose them, not knowing well if it will make us genuinely happy. In some cases, other people decide it for us; hence, making the situation harder. Indeed the confluence enlightened each one of us on the importance of loving what we are doing because things would not be easy, most especially if it is something we forced ourselves through. MARCH 2021 THE EQUILIBRIUM 25

by Vien Blanch Z. Gaton From rampant news about seabirds and marine animals ingesting plastic wastes from the ocean or getting entangled with different plastic waste materials to a study by Ellen MacArthur Foundation last 2016 saying that there will be more plastic than fish in the ocean by 2050, it is timely to discuss the importance of aquatic conservation. As an archipelagic country, the Philippines is surrounded by bodies of water which makes the topic more relevant to Filipino citizens like us. Last November 29, 2019, the UST Economics Society conducted a seminar that focused on enlightening the participants with the importance of the abundant aquatic resources that we have. In line with this, the invited speakers presented the topics assigned to them focusing on the impact of aquatic resources on the society and economy. They also emphasized how one can help in the conservation of the said resources. 26 THE EQUILIBRIUM MARCH 2021

Director for External and CONT... Mr. Marlito Guidote, Director for Government Relations, Oceana External and Government Relations of Oceana Philippines, enumerated Philippines suggestions which the youth can do to help in aquatic conservation, such as joining organizations advocating the protection of marine life and initiating home or community projects. Meanwhile, Ms. Rina Maria Rosales, the Vice President of Resources, Environment and Economics Center for Studies, Inc. (REECS), emphasized the value of the resources we are degrading, and that the role of Econo- mics is important in conservation of such resources. Vice President of REECS Lastly, Ms. April Jones-Balahan, an advocate of the Zero Waste Lifestyle, explained her less waste lifestyle journey. She stated that having a less waste lifestyle benefits not only the environment but our health and budget, as well. The topics, conforming to the theme of conservation of the aquatic resources, are timely and significant. The lessons imparted by the speakers are not only solutions to plastic pollution but also to throwaway culture, one of the prevailing problems we have in society. Advocate of the zero waste lifestyle The Philippines has rich and abundant natural resources, both on land and in water. As future economists, we must apply our learnings of efficient use and allocation of such resources. Also, as stewards of the environment, we must learn to give back to nature through helping in its conservation and practicing what was taught to us by the esteemed guest speakers from the seminar. MARCH 2021 THE EQUILIBRIUM 27

It is an established practice of the UST Economics Society (EcoSoc) to conduct seminars that feed the hunger for knowledge of the Business Economics Department, but with the onset of the COVID-19 pandemic, such customs are no longer feasible. However, as Business Economics majors, it is not in our nature to wait until the leaves turn green again; we optimize the resources available despite the constraints. As the University commenced the academic year in an Enhanced Virtual Mode, EcoSoc has conquered the new normal with its first Zoom webinar series entitled ICE: The Impact of COVID-19 to the Economy, a three-part webinar series discussing the economic situation of the Philippines and the current economic outlook in the health and education sectors amidst COVID-19 pandemic. The first session was held last October 3, 2020, with the keynote speaker, Dr. Jacqueline Frances F. Momville. Her talk spanned from the overview of the Philippine Health Care System to the building blocks of health wherein leadership and governance were underscored and to the social determinants of health and economy. Before concluding her discourse, she gave a response to the most pressing question of the hour: kalusugan o ekonomiya? She answered that healthcare performance is strongly dependent on the economy and good economic performance is also interlinked with good health outcomes. Therefore, health and the economy should be balanced. By: Ma. Ranja Victoria M. Porras Last October 23, 2020, the second session was conducted with the resource speaker Mr. Emmanuel Rentoy, Ph.D. He discussed the domino effeEcmt aofnuthe oversight of the Philippine education system to accommodate the unrelenting demands that the pandemic brought. Decreased enrollment rate and closure of public schools led to income loss, which then resulted in a reduction in teachers’ salaries. Although the Department of Education has responded to the crisis with distance learning methods, the discrepancy in terms of costs of telecommunication services is large between the Philippines and other countries. With this, he asserted that education during a pandemic is only for those who can afford it. 28 THE EQUILIBRIUM MARCH 2021

The last session was held last October 24, 2020, wherein Usec. Rosemarie G. Edillon, Ph.D. described the current situation of the Philippine economy. To build up the health system, economic activities were halted, but it came with a steep cost. However, NEDA has already created a strategic framework that would “recharge” the economy. As quarantine restrictions were eased, economic activities improved and the country is seeing signs of economic recovery. The webinar series also featured guest speakers from the Business Economics Department Faculty and students who imparted their insights on the particular discourse. Through the ICE Webinar Series, EcoSoc has actualized its pursuit of promoting academic excellence and upholding social consciousness. The webinar series was able to further the students’ understanding of economic concepts and their application to the present situation of the Philippines. As future economists, Business Economics students need to be well-versed in the mechanisms of the economy and the corresponding courses of action when faced with a crisis. The pandemic may have brought impediments to the conduct of several endeavours, but these barriers will not hinder EcoSoc from delivering the highest ideals of service to the Business Economics community. MARCH 2021 THE EQUILIBRIUM 29

I always thought that reaching a goal is a point-to- point, no-frills journey. There’s a beginning, a middle, and an end. Just like riding in an airplane – the aircraft takes-off, flies within the cruising altitude, then lands safely. Apparently, this is not always the case. As much as we want to make things simple, the universe doesn’t allow us. For six years I’ve been scheduling flights for the biggest airline in the country. In that six years, I learned a valuable life lesson while riding an airplane flying 35,000 ft. above sea level. Funny it may sound, but it made me realize that no matter how hard you try to plan or schedule, things will never go 100% as expected. There are factors and elements that you cannot control. There will always be delays and diversions. However, these things aren’t always bad as you thought. Delays are signs that there are things you need to fix and take into consideration before you start your journey. You can’t just jumpstart easily. That burning passion and determination will never be enough. 30 THE EQUILIBRIUM MARCH 2021

You have to wait and prepare yourself before you will be cleared for take-off. On the other hand, diversions are indications that you need to stop momentarily. You need to make a stopover to rest, refuel, and assess things before you continue. In every storm you go through, you need to take shelter and divert to a safe zone. Once the skies are clear, you may now resume flying. These are just some of the things I’ve learned while flying for 6 years; learnings that taught me to accept that I am vulnerable but resilient. Whenever I embark on a new journey, I always keep in mind that every delay is a sign to be better and diversions are indications to take care of my well-being. It has been a turbulent flying experience but purposeful. I will never get tired of 'cause I believe that someday, no matter how long the delays and how often the diversions, flight AJ 0129 will be able to reach its destination and land safety.

GOALS O N TINUOUS LY S H I F T RIGHTW AR D C by Jessa Mae E. Adriatico TtDwhiPnaeeoohtaCpnefRisnlynalihuttlpdeehuuranpatcedafnmmiertelneEusrqepnecrvah-nuitoeolEsaUtinnmzcnvponotosbeifemhsnntevtitpidtohpeuielsaesmed,rtc.ss1sehsUiFo.sc”ntiaeSmrwstsRldTsthtSpuelBysebonedu,ircanntelsitaitgceoeiinsioergtt-tpeysne2U2sam(de0sp0rJn1a,1toE8P8htadcsEi,,etnetSoaltehd)enntde,hsod2,htemJ“eneyCiuredelidlcnmats,isiotehsrd YOB VELASCO & KIARESTEL LLENO 2018 OF CHAMPION QUIZ BEE CLASH THE ECONOMISTS JPES CLASH KOAFRLTHREAYEMCU1ONSNDTOOMRI&USNTNSPEARJMPEUELPSA.QUCIAZRRBEEOEN 2018 SEAN\"LMUOBTAINOGNCSO,INJ2AMNPODETTIRHOUNNLSNI\"EMRBJOPUEP&S NICOLE TORRES CLASH KOAFTSTUHHEIREOC2ONYNDAOMMRAIUNSNATNSE&RJJPUOEPSSHUQAUIVZEDBEEOE 2018 DEBATE 2018 Suonoivnpeaer2sfrtfinteoydrr,,maRcunaondnnntcuienenru, -qtinhUugepeysttthiriteoelepnirarinoebus“lMetysnowttateoinodndnoistnhuigenr BOSYONG LU, IENDIM2AONNTDAIORLNUASNG\"NAESJRCPAEUSP& JAMES HERMOSO Motions,” the annual JPES Debate \"MOTIONS DEBATE 2019 Competition NCR Eliminations, organized in the same year. 32 THE EQUILIBRIUM MARCH 2021

Undeniably, they finished the JESSA ADRIATICO, KARL RAYMUNDO, LEXIS TALAUE IVAN LEDESMA, DANIELLE MARQUEZ & YOB VELASCO 2nd Runner-Up title in the CHAMPION 1ST RUNNER UP succeeding year. Indeed, it is truly remarkable and Economics Grand Prix 2019: Quiz Bee Economics Grand Prix 2019: Quiz Bee inevitable to see future NARALI ESTEBAN, RYAN TIONG & JOSHUA VEDEO THEA EVANGELISTA, VICTORIA PORRAS & JOSE ULAYE Thomasian economists bring pride and honor to our alma 2ND RUNNER UP 3RD RUNNER UP mater, as they courageously Economics Grand Prix 2019: Quiz Bee Economics Grand Prix 2019: Quiz Bee marched forward their brilliance in the “Economics Grand Prix 2019: Quiz Bee”, organized by San Beda Economics Society, where they dominated all other participants and were rewarded the most coveted Championship, 1st Runner-Up, 2nd Runner-Up, and 3rd Runner-Up titles. TRICTIhAeCPUhNiAlNiApNp,inJeAsNT’OMPCIYonL6mcEplSFeuItsSNiiAAtvDLieAIoNSnGGTro&wtJhEN(NIYGL)YNStDoUrGyASAN Gs6ftriuonFdwainentSFahnciwenltii(ascsraI,ittolGtnasmiinnn,c)ledigacenSnllnyucettt,aoehsonigrindemotyietn2cglpCde,0ore(doo2nttbom,u0itt“e)piT,mopsahgnoteenaeftotokinPthBfetidhoauhthiinesettlieir,prf”ntohipsaeDncreiseconuptsplue,suobgEaseslic’uhrdcivItotnymitotncehypnoelqe,uamnau(sTptnaiaoivecodl)eplrsyf 2020 IJnEtSeSrAnaAtDiRoInWAaaTlsIhCMiOonng&ettoManIr,KyADEFCLuAndCACBhRaAlLlenge in (c) environmental sustainability. rgeaLparrnseetslyree,ndtotafcotiorventhscelcupodamesptthlteewteloisdtyetohaferasIcM, hoFiu’esrvIsnetsmutdietuentntest sMhpoaEewcWcrsocraoiIaansncestonstohceitmanmoiornlgnyingmcdasotstoihtsoemiosef,nnsoatniio,dcurrsaD,adlCeDalCtbehaMaida.nlerepdUogtnysainnainnnpcedhtoggtiataostaaymrtavuitirncebiDnyocmdteCbirFepevueeowdaennetultiolytdlonerls,spdctoCiehinnomui,hednnraeaeitBsBtlcinlonhlupueotnuesusnnOgioting2onaunew0emebslsi2sinllitsiyyn0sche Economics Department’s long list of accomplishments. MARCH 2021 THE EQUILIBRIUM 33

I see the thissehprernoyeoatagdenifntdogrwtefhoveanedsrpte.orew.rer? Asking where COVID - 19 Our life AndTwhTWeitiharehksiepnoaaguiclnshupigss! etntienepef,edevteethlreoinyrgerceomtcrohunvereeydrre.wre. re TT\"DihmreoeuvgIpirhanutscsssreecodaaf,msfinteegheleilkliinksegweasenegogtruioesstwhhihnwetgrahirtciekvree\"rr T\"iTmABlhetuesthoswuougeunrrhedtgidhoimaasrletdswillaadssindhdtingoweeetcbrorehniaqgbruhidetteretrre\"r AAlAlAlllollloftfthhteethssheeeessemtearmmekaaeakskemuerymemdcehefasbotrraereotcvtntegeererrr TIonPmYrmaoayiuskeheaeltawmoraytya,bslltraehfearlyitofhnaetslsllatinmvreeoarrntsgteerr.

Layout by: Mikaela Cabral MARCH 2021 THE EQUILIBRIUM 35

The Fallacy of Heroism ABycRciaonnredJiilnl Rg. MtootasChildren The child asked about the nation, the teacher told him this, \"Inscribed within the pages of a They yell, “Hero! local history book are the great Hero!” and it echoed heroes we once knew. Original through the creation. visionaries that fought silent battles and lethal wars. Those that embraced bloodshed and revolution, that made history and triumph\" The child wondered how to be one, \"To be part of the pages!\", the child desired Although the wars have changed from field to paper, The gruesome massacre remained the same; 36 THE EQUILIBRIUM MARCH 2021

The seat is taken by the power. The table is set for law. The people cried out “Justice!” And yet they never see the dawn How could a child be part of the pages? Within a society that limits real progress? Repeating what was done, Within a society that makes children puppets? Expecting what should be done “This will The child knew the truth, bring you glory!” heroes don’t come from glory. they said. Heroes come from ordinary acts of bravery, Large hearts that stem from defeat, The smallest acts that changed the course of history, “To be part of the pages?” they mocked. And so, they did. Layout by: Mikaela Cabral MARCH 2021 THE EQUILIBRIUM 37

ENTERTA

AINMENT

It's ironic to think that a year ago, I longed for a time for myself... Not knowing that I would eventually succumb completely unto its embrace... These past months haven't been easy I wish that I hadn't wished for a moment like this... I wish that I had paid attention... I wish that I hadn't wished to be alone then... I wish that I enjoyed it then... But... 40 THE EQUILIBRIUM MARCH 2021

I won't let this... Stop Me! I wish that No I realized matter it sooner... how dark the night is, Because now I know my mistakes... It only makes shooting Shooting stars shine brighter... stars... Come Layout by: Mikaela Cabral true! That one day may make your wishes... End MARCH 2021 THE EQUILIBRIUM 41

NOTE: For answers with two words, do not Layout by: Mikaela Cabral include the space on the boxes provided for the answers. 42 THE EQUILIBRIUM MARCH 2021



W shHSECotnarmrniispqicubeyz: It's ironic to think that a year ago, I longed for a time for myself... Not knowing that I would eventually succumb completely unto its embrace... These past months haven't been easy I wish that I hadn't wished for a moment like this... I wish that I had paid attention... I wish that I hadn't wished to be alone then... I wish that I enjoyed it then... But... 42 THE EQUILIBRIUM MARCH 2021

I won't let this... Stop Me! I wish that No I realized matter it sooner... how dark the night is, Because now I know my mistakes... It only makes shooting Shooting stars shine brighter... stars... Come Layout by: Mikaela Cabral true! That one day may make your wishes... End MARCH 2021 THE EQUILIBRIUM 43

NOTE: For answers with two words, do not EcoKNOWmics! include the space on the boxes provided for the answers. Across Down 3. The idea that countries can skip straight to 1. Demand and supply intersect with one another more efficient and cost-effective technologies that weren't available in the past. to establish market ___. 5. Indicating substantial emigration or migration 2. ___ utility refers to the additional utility derived of individuals; also refers to the situation where a from consuming an additional unit of the good. country loses its best workers. 4. They usually gain in an inflationary situation 6. A measure of how much buyers and sellers because they get to pay off their loans and respond to changes in market conditions. interest in less-valued money. 7. ___ unemployment exists in any economy due 8. ___ can make everyone better off. to people being in the process of moving from one job to another; also known as search 9. A ____ economic system is based on goods, Layout by: Mikaela Cabral unemployment. services, and work, all of which follow certain established trends which rely a lot on people, and 10. He emphasized that the price and output of a with very little division of labor or specialization. good are determined by both supply and demand. 11. Considered as the “Mother Teresa of 12. ___ is the result of people having \"Unlimited Economics” for his works on developmental Wants and Needs,\" or always wanting something economics. new, and having \"Limited Resources\". 13. In a ____ economic system, there is a 15. Country that opted out of the Regional dominant, centralized authority - usually the Comprehensive Economic Partnership (RCEP) on government - that controls a significant portion of November 2019. the economic structure. 14. Country with the largest population in the world as of July 2020. References: Dinio, R.P. , & Villasis, G. (2017). Applied Economics. Sampaloc Manila. Rex Book Store, Inc. Economic System. (n.d). Corporate Finance Institute. Retrieved from https://corporatefinanceinstitute.com/resources/knowledge/economics/economic-system/ Sicat, G. P. (2003). Economics, Volume 2: Macroeconomics (Vol. 1). Pasig City: Anvil Pub. 44 THE EQUILIBRIUM MARCH 2021

EcoKNOWmics! Answers Scan me for answers! MARCH 2021 THE EQUILIBRIUM 45

If we fail to adapt, we fail to move forward. John Wooden THE EQUILIBRIUM A.Y. 2020 - 2021