Current Issues in Microeconomics

Name: Vergara, Ferdinand Jr.
Galotos, Joanna Marie A.
Subject: Managerial Economics
Professor: Dr. Roland Simbre
Current Issues in Microeconomics
What is Microeconomics?
Microeconomics is the study of individuals, households and firms' behavior in decision
making and allocation of resources. It generally applies to markets of goods and
services and deals with individual and economic issues.
Microeconomic study deals with what choices people make, what factors influence
their choices and how their decisions affect the goods markets by affecting the price,
the supply and demand.
The study of how individuals and businesses make choices on how to best use limited
resources.
Current Issues in Microeconomics in the Philippines

1. WAR ON DRUGS
As of March 2017, Since taking office on June 30, 2016, Philippine President Rodrigo
Duterte has carried out a war on drugs that has led to the deaths of over 7,000
Filipinos to date, mostly urban poor. At least 2,555 of the killings have been attributed
to the Philippine National Police. Duterte and other senior officials have instigated and
incited the killings in a campaign that could amount to crimes against humanity.
2. MARAWI City Economy

Marawi evacuees boost economy of nearby town like Saguiaran, Lanao del Sur- this
sleepy fourth class town of 24,619 people scattered in 30 barangays, suddenly came to
life as hundred of people from Marawi City- some 10 km away started arriving on May
23 as they fled the fighting between government troops and extremists.
Example is: Kaina Malik Nasser, a resident of Barangay Mapantao here, said she was
now selling smoked fish faster than before.
On Monday alone, I sold P5,000 worth of fish (bakas in the local dialect), she said.
Her sales were brisk even if there were dozens of other smoked fish vendors lining the
one kilometer stretch of road fronting the town hall which serves as the towns public
market.
Nasser said she could not have sold the same volume before the fighting in Marawi
started.
But she said vendors like her did not take advantage of the situation as far as pricing was
concerned.
Our price really depends on the price we pay from our sources, she said. But so far, a
bakas is still being sold at P380 a piece, she said.
Bakas is the local term for smoked juvenile tuna, which weighs around at least 2
kilograms each.
Were happy to make double that what we did before. No need to raise the price, she
said.
3. REPRODUCTIVE HEALTH LAW

Law which guarantees universal access to methods on contraception, fertility control,
sexual education and maternal care.
Duterte appealed to the Supreme Court to lift its two-year temporary restraining order
on contraceptive implants
4. MINING
Duterte said mining companies will face steep taxes if they do not spend enough on
rehabilitating areas that host their operations
5. K TO 12
Also in 2016, the Philippines adapted the K to 12 program, covering 13 years of basic
education in the Philippines from Kindergarten to Grade 3, Grades 4 to 6, Junior High
School and Senior High School. In addition to that, Duterte mentioned in his speech the
widened reach of skills training and increased number of out-of-school children and
youth who have availed of the Alternative Learning System.
6. TAX REFORM
As one of Dutertes priority reforms, the Tax Reform for Acceleration and Inclusion
(TRAIN) was implemented, that address the problems of the previous tax system by
reducing personal income tax, simplifying estate and donors taxes, expanding the
Value Added Tax, and increasing oil and automobile excise taxes.
7. THE BIG ONE
The series of damaging earthquakes in Leyte, Surigao and nearby provinces and islands
attest to this. We were told that it is no longer a question of if but a matter of when
8. DEATH PENALTY
Duterte pushed for the death penalty again, saying that "in the Philippines, it's really an
eye for an eye, a tooth for a tooth
9. SMOKING BAN
One of the most recent orders signed by Duterte is the smoking ban, which prohibits
smokers to smoke in certain public spaces. We want to minimize access to tobacco
products, and provide a more supportive environment for those who are attempting to
quit tobacco use, he said.
10. NATIONAL BROADBAND PLAN
For the improved internet connectivity in the Philippines, Dutertes cabinet approved
the National Broadband Plan of 2017 which works to bring affordable internet access to
every community and improve broadband connectivity in the Philippines. Also recently,
the Department of Information and Communications Technology (DICT) launched a Free
Wi-Fi along EDSA for public use.
11. NO BALANCE BILLING POLICY
When it comes to the health sector, Duterte ensured that Filipinos are given equitable
access to quality and affordable health services. In this policy, no other fees shall be
charged or be paid for by the indigent patients above and beyond the packaged rates
during their confinement period. Duterte also mentioned the expanded health
insurance coverage and benefits done by his administration.
12. IMPROVEMENT OF SEA CONNECTIVITY AND LAND TRANSPORTATION
With regard to sea connectivity, 15 brand new Ro-Ro vessels were launched to traverse
major routes in the country. The ASEAN Ro-Ro Shipping Route was also opened,
connecting the ports of Davao and General Santos, and Philippines to Indonesia. Duterte
also mentioned the modernized ports of General Santos, Cagayan de Oro, and
Zamboanga.
Duterte also directed the Metro Manila Development Authority and local government
units in Metro Manila and Metro Cebu to ensure the free flow of traffic, and clear the
roads of unnecessary obstructions, such as parked vehicles on streets. Violators shall
be penalized regardless of stature, said Duterte.

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Current Issues in Microeconomics

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Name: Vergara, Ferdinand Jr.

Galotos, Joanna Marie A.

Subject: Managerial Economics

Professor: Dr. Roland Simbre

Current Issues in Microeconomics

Current Issues in Microeconomics in the Philippines

2. MARAWI City Economy

3. REPRODUCTIVE HEALTH LAW

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