| Wherever we go, economics is everywhere all over | | | | Reform written in year 1923, The End of Laissez |
| the world and it can be located in all major continents | | | | Faire Theory written in year 1926, and also A |
| around the globe. This begins in domestic up to global | | | | Treatise on Money written in year 1930. There are |
| approach. In my own opinion, economics is a social | | | | also future in economics and these are called |
| science. There are several branches of economics to | | | | "ethico-economics in which I will discover it on my |
| deal with and these are: Sociology that studies the | | | | next article and next is economic crisis that cannot |
| society and culture, Physics that studies the useful in | | | | predict when will it happen so it belongs to the |
| the production of goods and services that produces | | | | future. |
| machines and electricity,Political Science because it will | | | | After mentioning the introductory part and historical |
| study the economic policies of each leaders across | | | | background of Economics, this time I will proceed to |
| the globe because it influence from the government | | | | domestic approach. The writer of this article will |
| of economic activities,History that studies the past, | | | | focus on the Philippine Financial System in order to |
| present, and future events of economic | | | | share ideas, thoughts, and opinions from other |
| developments, Religion because it will based on the | | | | nations. This article is a big help for those who will |
| studies of religious traditions and beliefs that can | | | | take Master's and Doctoral Degree in Economics. In |
| encourage or discourage of economic development. | | | | Philippines, the most common financial institutions are |
| Readers and Viewers must discover and know the | | | | based on banking, pawnshops, insurance |
| content of economics. This article will be tackling | | | | companies,lending, financial or lending companies. The |
| fundamental and basic principles of economics. | | | | Banngko Sentral ng Pilipinas or known as BSP (former |
| Fundamentals of economics is focus on banks or | | | | Central Bank of the Philippines) is the central |
| banking, business, business cycle, depression, | | | | monetary authority and their purpose is to maintain |
| economic freedom, income, inflation, investment, | | | | monetary stability, and to promote a balance and |
| labor force, manufacturing, marketing, money, | | | | sustainable economic growth. |
| monopoly and competition, consumer price index, | | | | The last part content will be international approach |
| cost of living, physiocrats, price, production, profit, | | | | because it deals with global economy. In our planet |
| property or dealing with real estate business, | | | | Earth, seven continents around the globe gather to |
| recession, rent, standard of living, supply and demand, | | | | participate in International Trade. To those who are |
| trust, unemployment, value added tax in which I | | | | interested in this part of my article, they can find or |
| believed that this term will be understand by the | | | | search it in tariff, trade, International Monetary Fund |
| viewers. The meaning of economics is very simple. | | | | or known as IMF, Asian Development Bank or known |
| According to Fajardo, the author of his book titled | | | | as ADB, Exports and Import, Common Market, |
| "Economics" third edition, The meaning of economics | | | | Exchange Rate, World Bank. |
| is the social science that deals with proper allocation | | | | To understand the meaning of international trade, |
| and efficient use of available resources for the | | | | according to James B. Calderwood, "International |
| maximum satisfaction of human needs and wants. | | | | trade is the exchange of goods and services |
| Here in economics, there is also an economic system | | | | between countries and it is sometimes called "world |
| and theories to be learned by the readers and | | | | trade" or "foreign trade". to explain this meaning, it |
| viewers. They must know the information of | | | | enables a nation to produce the goods it can make |
| capitalism, communism, economic determinism, | | | | the most cheaply and exchange them for goods it |
| Facism, laissez faire theory, Theories of business | | | | finds more costly to produce from one country to |
| cycle, Manioralism, Mercantilism, Socialism, and | | | | another countries. That is how the international trade |
| Syndicalism. They must take note that economic | | | | means to the economics. The good example that |
| system is a set of an economic institutions that | | | | practice International Trade is Japan because they |
| dominates a given economy. There is also a history in | | | | can compete with other countries. |
| Economics from past to present times, even in the | | | | The World Bank, International Monetary Fund, and |
| future. According to Fusfeld, who has a knowledge | | | | Asian Development Bank are the major lenders to |
| of John Meynard Keynes or known as "Baron Keynes | | | | our country. Their development funds have been |
| of Tilton" that has a famous books which is very | | | | focus on economic development such as agriculture. |
| popular until now titled "Keynes General Theory of | | | | After mentioning my content of economics from |
| Employment, Interest and Money" which was written | | | | domestic up to global approach, they must take note |
| in the year 1936 which ranks among the most | | | | that we are in the concerns of social responsibility |
| important books on economics. Aside from this, | | | | this is not referring to the rich or poor people. |
| among his other works are A Tract on Monetary | | | | |