ECONTRIBUNE EDITORIAL BOARD Editor in Chief: Mary Ann Jasa Associate- Editor: Mary Del Jasa Writers: Marisse Aldeza Mary Sharez Almaria Amethyst Bajande Mari Kimberly Cabantac Edralyn Corpuz Mario Danao Pia Danette Lopez Dean Joseph Villanueva Lay-out artists/ Cartoonists: Joanne Rae Santos Karizza Oriel Zheena Halagao Kristine Camille Cruz Photographers: Genamari Leigh Jacob Kathlyn Anne Cate Janneth Nubla
Officers-in-Charge Marius Gabriel C. Buensuceso Abulkhayr M. Macabato Jr.
TABLE OF CONTENTS 4 5-6
Editorial Ekonomiya at Pulitika: Ang Impeachment ng Punong Mahistrado
Marx: In the Past and Present
News Gross Domestic Product of 2011 Second Quarter: Philippine Economy Decelerates
AES First General Assembly: The Clash of the Elements
Insignia: The 2011 Search for the Epitomes of Artlet Beauty
Bank deposits increased by 6.4% up to P5.1 Trillion 11th Young Economistsâ€™ Convention at UST
UST and its Unending Grace
Freakonomics Until the very end, Harry Potter!
Mission: Impossible â€“ Ghost Protocol
Up close with the AES President
Games and Comics
Ekonomiya at Pulitika: Ang Impeachment ng Punong Mahistrado By: Mary Ann A. Jasa “Kung walang korap, walang mahirap”, ang mga salitang ito ang nagpakilala sa Pangulo ng ating bansa na si Benigno Aquino III sa kanyang kampanya noong nakaraang halalan 2010. Ang kanyang mga binitawang salita ay kanyang ipinamamalas ang kanyang pagtupad sa kanyang tungkulin upang makamit ang “tuwid na landas” sa pamamagitan ng pag-alis sa mga korap na opisyal ng pamahalaan. Ayon sa kanya, ang pagtataksil at pagsira ng tiwala ng publiko ay nangangahulugan ng karampatang kaparusahan. Ang kondisyong ito ay naipapakita sa kasalukuyang “impeachment trial” ng ating Punong Mahistrado na si Renato Corona. Ang impeachment trial ni Punong Mahistrado Renato Corona ay naisagawa sa pamamagitan ng 188 na pirma ng mga miyembro ng House of Representatives noong nakaraang Disyembre 12, 2011. Siya ay naakusahan ng culpable violation of the Constitution, graft and corruption at betrayal of public trust. Ang tunggalian sa pagitan ng pinuno ng ating hudikatura na si Supreme Court Chief Justice Renato Corona at pinuno ng ating ehekutibo na si Pangulong Benigno Aquino III ay sinasabing maaaring makaapekto sa ekonomiya ng Pilipinas kasabay rin ang pagbagal ng ekonomiya ng Japan, Amerika at krisis sa Europa. Mayroong nagsasabing ito’y magdudulot ng positibo gayundin ng negatibong epekto sa pangkalahatang pagtakbo ng ating ekonomiya.
nagtutulak palayo sa mga investors ay ang korapsyon at kaguluhan sa pulitika. Kung titingnan, ang problema ng ating ekonomiya ay dulot ng problema sa pamamahala. Sa tulong ng impeachment trial ni Punong Mahistrado Corona, maisasaayos ang problema sa pamamahala at siguradong magkakaroon ng mas maunlad na ekonomiya, mas maunlad na Pilipinas. Ang pagtira ng Pangulong Noynoy sa mga korap na opisyal tulad nina Punong Mahistrado Corona at dating Pangulong Arroyo ay naghahatid ng magandang epekto sa ekonomiya. Ayon kay Jejomar Binay, ang sarbey ng Bank of America-Merrill Lynch ay nagpakita na pangatlo ang Pilipinas sa mga bansang “most preferred market in the world” dahil na rin sa “anti-corrupt policies” ng kasalukuyang administrasyon. Sa kabila ng nagaganap na impeachment trial kay Punong Mahistrado Corona, ang stock market ng ating bansa, ang panukat sa kalakasan at kahinaan ng ating ekonomiya ay na nanatiling hindi apektado. Ang mga business communities ay nagkakaroon ng confidence tungo sa ekonomiya ng bansa dulot ng mga judicial process na naghahangad na magkaroon ng malinis na pamamahala na pinaniniwalaang magdudulot din ng pagbuti ng ekonomiya gayundin ng mas maayos na pamumuhay ng mga Pilipino.
Ayon sa ilan, ang impeachment trial ni Punong Mahistrado Corona ay mayroong magandang epekto sa ating ekonomiya. Ang impeachment na ito ay sinasabing parte ng plano ng kasalukuyang administrasyon upang maisagawa ang pag-unlad sa pamamagitan ng mahusay at mabuting pamamahala. Ang trial ay nakalinya sa kampanya ng Pangulo na aalisin ang lahat ng uri ng korapsyon na magbababa sa kahirapang hinaharap ng bansa. Ayon sa Foreign Correspondents Association of the Philippines (FOCAP), ang korapsyon ang isa sa mga rason kung bakit ayaw ng mga investors na magsagawa ng kanilang mga negosyo sa bansa. Ang mga bagay na 5
Sinasabing ang mga deeveloping countries tulad ng Pilipinas ay dapat humarap sa mga problema tulad ng korpasyon, kaguluhan sa pulitika at magulong pamamahala. Papaano nga naman makakapagtuon ng pansin sa ekonomiya at pag-unlad kung hindi muna haharapin ang mga magnanakaw at manlolokong mga opisyal na pinagkakatiwalan ng taong bayan.
Sa ganitong pangyayari, nasabi ni Corona na ninanais siguro ng Pangulong maging diktador sa pamamagitan ng pagkakaroon ng mas makapangyarihang kamay ang ehekutibo kaysa sa huditaktura na sa katotohanan, dapat pantay pantay ang lahat. Natatakot ang Punong Mahistrado na maaring masira at mawala ang demokrasya ng ating bansa.
Ngunit sa kabila ng mga positibong epekto ng nasabing impeachment trial, mayroong ding ilan na nagsasabing mayroon din itong negatibo at hindi kanais-nais na epekto sa ekonomiya ng ating bansa.
Nailahad na ang maaaring maging positibo at negatibong epekto ng kasalukuyang impeachment trial ni Chief Justice Renato Corona sa ekonomiya ng ating bansa. Naipaliwanag na ang maaaring resulta ng ganitong pangyayari sa kasaysayan ng Pilipinas. Sa kabila nito, dapat paring tandaan ang pagnanais sa pagkakaroon ng patas na paghuhusga. Dapat managot ang nagkasala sa taong bayan. Gayundin, dapat huwag din gamitin ang galit sa pagpapatupad ng mga gawain. Higit na tandaan na dapat mapanatili ang demokrasya ng ating bansa gayundin ang pagpapabuti sa pamumuhay ng bawat Pilipino. Piliting huwag mabuwag at masira ang ugnayan ng tatlong sangay ng pamahalan sapagkat nasa kanila ang kapangyarihan upang mas mapadali ang pag-abot sa mas maayos na buhay para sa Pilipinas. Ngunit, ako’y napapaisip. Kailan kaya, kailan nga kaya matatamo ng Pilipinas ang inaasam nitong masarap at maunlad na pamumuhay?
Ang mga lider ng mga business communities ay nagpakita ng kanilang pag-aalala sa maaaring negatibong epekto ng impeachment sa kabuuang ekonomiya ng bansa.Napapaisip tuloy ang ilan sa mga katanungan tulad ng mga ito: “Gaano magtatagal ang impeachment process?, Gaano karami ang oras na mawawala, na dapat ang mga oras na ito ay nagagamit para magbigay ng trabaho sa mga mahihirap?, Pagkatapos ba ng impeachment, magkakaroon ng mas maraming trabaho o kaya’y mas bubuti ang ekonomiya?, Titigil na ba sa pagkain ng pagpag ang mga Pilipinong mahihirap?, Ito ba ay magdudulot ng pagtaas ng Gross Domestic Product ng bansa? at talaga bang mababawasan ang paghihirap ng mga Pilipino? Ayon kay Hans Sicat, pangulo ng Philippine Stock Exchange (PSE) , na kapag ang isyu sa pagitan ng hudikatura, ehekutibo gayundin ng lehislatibo ay lumala, ito magdudulot ng napakapangit na epekto sa mga sektor ng negosyo at ekonomiya. Kapag naramdaman ng mga investors na hindi matagtag ang isang bansa sa kanyang pulitikang aspeto, nagkakaroon sila ng pangit na pagtingin sa pagtatayo ng mga negosyo sa bansa. Hindi sila gagawa ng desisyon na alam nilang maaaring makasira sa kanilang plano sa negosyo. Ayon sa mga kritiko ng administrasyon, ang impeachment ng Punong Mahistrado ay nakakagawa ng “chilling effect” sa kabuuang hudikatura at maaaring sumira sa “check-and-balance principle” sa lahat ng sangay ng ating pamahalaan (hudikatura, ehekutibo at lehislatibo). Sa katunayan, ang pag-atake ng Pangulong Noynoy Aquino sa mataas na korte ay maaaring magresulta sa constitutional crisis, na kung saan maaaring maisantabi at mapagwalang bahala ang kapangyarihan ng hudikatura. 6
Marx: In the Past and Present By: Mary Ann A. Jasa Karl Marx in his “Theory of History” said that forms of society rise and fall as they further and then impede the development of human productive power. Marx sees the historical process with series of modes of production, characterized by class struggle, culminating in communism. Marx contradicted capitalism. Capitalism existed when in a community-producing society; one small class of peoplecapitalists- had monopolized the means of production. Workers were free to make one of the choices: to starve or sell their labor power as commodity. Those people who belong to the upper class is creating more powerful forces of production thus the wealth became concentrated to few. This scenario can still be seen in the present situation of the world we live in, where capitalists in order to maximize profits, manipulate businesses to be done by cheap labor without letting the money go out from the government or hindrance from the labor unions. Unequal distribution of wealth as seen as the main problem for the scarcity of the world’s resources become visible as the bourgeoisie is attached to private ownership thus, poverty becomes prevalent in the society. Capitalism then creates a huge class of the exploited people who aim to destroy the unjust system. With these contradictions of capitalism, the workers become aware and vigilant of their goal, of becoming class conscious. Marx believes that the proletariat will comprise the vast majority and will become more progressive. He says that the proletariat will revolt for the benefit of all as this revolt will end the classes in the society; the aggressive capitalist society will be put to an end. At present, this could also be seen in the like that of these ongoing demonstrations in New York City’s Wall Street financial district. The Occupy Wall Street (OWS) is a series of protests initiated by the Canadian activist group Adbusters. The protests are against social and economic inequality, greed, as well as corruption happening in that country. The protesters’ slogan “We are the 99%” refers to the dominant group opposing the wealthiest 1% of the population. This struggle not only happening in the United States but for the whole world also proves the desire of the people to put an end to poverty and to bring economic and social equality among all. Marx contradictions to capitalism which includes revolution against the bourgeoisie (ruling class) had provided the foundation of a highly developed industrial society as seen in Europe and China’s economic progress for example. Others may say that for our country to become a highly industrialized country, the people must not undergo such series of demonstrations since they could apply peace talks and agreements. On the other hand, there are others who wanted to shout out and fight for what they think they really deserved- a fair and equal economic living. Just like in the Philippines, its success is still in the hands of the Filipinos. The Philippines could excel and bloom economically when there is the presence of concern among the rich and the poor. The relationship must be mutual. There should be give and take relationship so as to achieve the social and economic equality. The people who are in power should act accordingly in the society so as to help in the development of the people and the economy. In the way, the Filipinos would be able to see a brighter and successful living in the soonest time possible.
Gross Domestic Product of 2011 Second Quarter: Philippine Economy Decelerates By: Mary Ann A. Jasa
Last August 31, 2011, local economists were surprised over the disappointing Gross Domestic Product, posting a 3.4 percent growth during the second quarter of 2011 which is less than half the 8.9 percent growth in 2010. According to the National Statistical Coordination Board (NSCB), this was brought about of the under spending by the government, slow-moving foreign trade and the yet-to-be-fulfilled promises of the public-private partnership (PPP) program. Some economists also attributed this deceleration to the European debt crisis, political turmoil in the Middle East and North Africa and the economic uncertainties in western countries that affect the slow moving economy of the country. It was said that the decline in Gross Domestic Product could also be due to lower consumption and the world economy’s decline in same period. Both public and private economists agreed that the government has to move public programs and projects faster, therefore increasing government expenditure. In line with this, the government is currently working to bring in more foreign direct investments. The government intended to stimulate the economy by frontloading expenditures for public projects due last year and increasing disbursements. According to Budget Secretary Florencio Abad, the government aims to “optimize public spending” and “pursue other interventions” during the second half of the year to respond to the global economic slowdown. It was said that the Department of Budget and Management and line agencies are preparing a proposal to President Aquino to prioritize programs, meaning increasing the government expenditure, so that there could have a high economic multiplier effects. Thus, it will increase the output or production and it will benefit poor sectors. The government intends to further increase spending not only by accelerating existing projects but also by spending on additional projects allowed by the available fiscal space brought about by significant savings they have attained. Additional projects 9
considered for implementation f include the hiring of nurses and other healthcare workers, providing electricity supply to rural communities, infrastructure, and agrarian support. On the other hand, the BSP raised key policy rates by a total of 50 basis points, bringing overnight borrowing and lending rates at 4.5 and 6.5 percent. Also, the BSP raised the reserve requirements for banks to 21 percent. With this, it will give an effect of reducing the loanable funds of the banks because they will have to set aside a bigger portion of their deposit liabilities as reserve to meet depositors’ withdrawals, therefore the amount of cash available for lending has been reduced. This will action will rise the demand and slow down inflation. Also, government successfully sell P9 billion worth of seven-year T-bonds. The P9 billion T-bond debt sale was part of the planned borrowing program for the second quarter of 2011 of P117 billion thus, there will funds for the projects to be implemented by the government. Romulo A. Virola, the National Statistical Coordination Board secretary general, said that the European debt crisis and the fragile recovery of major trading partners dampened the country’s economic growth. Nevertheless, he said that there was a robust rebound of the agriculture sector, the sustained though slowing down performance of manufacturing and the balanced growth of the ever-resilient services sectors. On the demand side, the growth came mainly from consumer spending as fixed capital formation particularly Construction. The less than desirable growth benefited from the strong recovery of the agriculture sector, the sustained though slowing down performance of manufacturing and services sectors. The decline of the GDP growth can be attributed with the political turmoil in the Middle East and North Africa plus the economic uncertainties in western countries, thus the Net Primary Income (NPI) (previously called NFIA) decreased by 2.8 percent hindering the Gross National Income (GNI). There is a decrease in imports and a slowdown in imports.
AES First General Assembly: The Clash of the Elements By: Mary Del A. Jasa September 3, 2011 marked the first general assembly of the Artlets Economics Society (AES). It was a very memorable day for the whole economics students. The assembly started at 1:00 in the afternoon at the Albertus Magnus Auditorium in University of Santo Tomas. All were really excited and overwhelmed to witness the opening assembly as well as the Mr. and Ms. Economics 2011. The program started with the invocation and singing of the National anthem. Ms. Leah Estacio, the adviser of the Artlet Economic Society delivered the welcoming remarks. The first general assembly has the theme of “The Alchemist” where the different elements- earth, water, air and fire clashed. Each year level and section wore respective colored shirts supporting their own element. Colors brown, white, blue and red dominated the auditorium. The judges of MMECO 2011 were Oyo Gatmaitan (SOCC President); Rhodel Sazon (ABSC-Vice President External); Kc Estanislao (CSC Secretary) and Professor Ferdinand Lopez. The candidates showcased their talents as they grooved and danced to the music. This was followed with the audio visual presentations of the AES committee heads as they promote and launch their respective committees. All the sections from first year to fourth year levels participated in the program as each presented their intermission numbers. Some of them danced and some performed as a band. The MMECO 2011 candidates modelled with confidence and beauty their smart casual wear, sportswear and formal wear imbibing their specific elements. The whole auditorium was filled with shouts and claps of the students showing their support for their respective candidates. The student body was overwhelmed
Overall winners: Champion: Domingo Angelo Cayosa (3ECO2) & Patricia Katherine Cruz (3ECO2) 1st runner-up: Isaiah de Guzman (2ECO1) & Edselie Joyce Catanduanes (2ECO1) 2nd runner-up: Jeremiah Dagcutan (4ECO) & Eloisa Visperas (4ECO) Mr. & Ms. Photogenic: Domingo Angelo Cayosa (3ECO2) & Patricia Katherine Cruz (3ECO2) Best in sports attire: Domingo Angelo Cayosa (3ECO2) & Patricia Katherine Cruz (3ECO2) Best in theme wear/costume: Domingo Angelo Cayosa (3ECO2) & Patricia Katherine Cruz (3ECO2) Best in talent: Isaiah de Guzman (2ECO1) & Patricia Katherine Cruz (3ECO2) Best in formal wear: Isaiah de Guzman (2ECO1) & Patricia Katherine Cruz (3ECO2) This was followed by the closing remarks by the AES President, Sarah Cristobal. All sang the UST Hymn. The general assembly was indeed a success. All were delighted and satisfied with that day’s activity.
ECO’S PRIDE: STEPPED UP
EPITOME OF ARTLET BEAUTY
INSIGNIA: THE 2011 SEARCH FOR THE EPITOMES OF ARTLET BEAUTY
Mr. and Ms. Arts and Letters’ Press Conference
mingo Angelo Cayosa (Andre) who were hailed as the official representative of Economics last September 3, 2011 at the Albertus Magnus Auditorium. One of the major events on this year’s MMAB was By: Marisse A. Aldeza the press conference held at Tan Yan Kee AVR last November 9, 2011 which were attended by supporthe theme of this year’s MMAB is INSIGNIA which ers of each participants and a panel comprised of AB means “emblem or badge of honor” in Latin. The professors namely, Ferdinand Lopez, Consuelo GoAB Student Council who organized the said pageant tauco and Vivian Anonas who tested the ability of the had deviated from the traditional kind of beauty pag- participants to answer different kinds of personal and eant showcasing the beauty and brains of candidates. academic questions. The objective of the theme is to step up the competition on a higher level of fashion with a twist. The pageant was more on rocking the runway which aims to gear fashion as a tool towards moral and intellectual development of a Thomasian Artlet. There were 10 pairs who joined this year representing all majors in the Faculty of Arts and Letters except for AB English and AB History. The representatives of AB Economics this year were both from 3 Economics 2, Patricia Katherine Cruz (Kate) and Dopoi dancing as well. Too proud for our representatives, Ms. Economics Patricia Cruz grooved her audiences Unleashing Beauty and Talent with her dashing dance moves and Mr. Economics By: Ral L. Corpuz Andre Cayosa serenaded and melted the hearts of the listeners with his version of “Sunday Morning”. Indeed rue to the title, the talent show of Insignia 2011 in- beauty and talent, that’s what Insigna is all about. deed unleashed the beauty and talent of the male and female contestants who were vying to emerge as the next Mr. & Ms. Arts and Letters. The contenders showcased their best through different performances and rocked the whole Albertus Magnus Auditorium last November 21. All of them really exerted efforts desiring to get the crowns and hoping to represent the Faculty on the “Ideal Thomasian Personalities of 2011”. Being there was like watching Pilipinas Got Talent as the competitors of the respected majors made the crowd went wild. The judges were Mr. Paolo Rivera, Prof. Crescencio Doma and Paraluman Band vocalist Ms. Madeline. There are those compete by pair and there are those who went solo act. Some danced hiphop and interpretative dance. Some sang and played musical instruments such as piano and guitar. Some made 14
The Night Everyone’s Waiting For: The Coronation
Our Ms. Economics made it to the Top 4 .As they face the hardest part of the competition, the question and answer portion, most of them confidently and smartly answered the question, bringing out the best Artlet in them.
The winners in the Insignia 2011, the search for Mr. and Ms. Arts and Letters are as follows: Third By: Mary Sharez Almaria runner-up: Mr. and Ms. Model of Lore are Mr. Communication arts Kevin Conejos Antonio and Ms. Ecohe Faculty of Arts and Letters had successfully ac- nomics Patricia Katherine Cruz, Second runner-up: complished the runway finale of “Insignia 2011”, Mr. and Ms. Model of Love are Mr. and Ms. Literature the most creative and new theme for the search of Mr. John Andrew Del Prado and Reyra Delos Reyes, First and Ms. Faculty of Arts and Letters. runner-up: Mr. and Ms. Model of Life are Mr. Journalism Royd Vicente and Ms. Communication Arts The Insignia 2011 was held last November 25, Leica Tingcungco and the Mr. and Ms. Insignia Model 2011, at Plaza Mayor, which started with a blast of of 2011 are Mr. Behavioral Science Mark de Sequera dance performance done by the synergy dance group, and Ms. Political science Joliv Catiis. Truly, they are an and this was quickly followed by the glamorous ramp epitome of Artlet’s Beauty. of the candidates wearing their black glam attires. The candidates from this competition had undergone workshops that had boost their confidence and learning in their projection and modeling. The candidates took the run way with their different types of wear: first is the hang-ten casual wear, second is the theme wear: festival wear, third is the black and white wear, fourth is the insignia artist wear wherein the male outfit are made by Drei Soriano and the female outfit are made by Veejay Floresca and lastly is their elegant clothing. Our very own, Mr. and Ms. Economics Andre Cayosa and Patricia Katherine Cruz had the Mr. and Ms. Personality award. Ms. Economics -Patricia Katherine Cruz and Mr. Communication -Kevin Antonio both received the LAME Look At Me Everyone award and the Hang-ten award as well.
Bank deposits increased by 6.4% up to P5.1 Trillion same period of 2010. On the other hand, the Thrift banks’ deposit remained unchanged at P467.1 billion while the rural banks was up by 4.1 % amounting to P124.4 billion from P119.5 billion. The institution also said that almost half of the deposits or 2.43 trillion came from the savings deposits which grew by 10.1 % year-on year. Whereas the combined levels of time and long term negotiable deposits, which comprised the 32.6% total deposits were trimmed down by 1.3% amounting to P1.7 trillion. Meanwhile the demand deposits which contributed the 19.5% of the total deposits was up by 12.1% yearon-year settling to P999 billion. Individual’s deposit decreased by 1.9% putting it to P2.79 billion from P2.84 billion but still composed the half of the depos The Philippine Deposit Insurance Corpora- its with 54.8%. tion (PDIC) said that the total bank deposits of the As with the insurance coverage, 97.2% of the total 41.9 country’s universal, commercial and thrift banks has million deposit accounts have balances within the increased by 4.5% despite its slow pace in the third maximum deposit insurance coverage of P500, 000. quarter of 2011. From the P4.8 trillion in the same period of 2010 it was up by 6.4% mounting to P5.1 trillion. The commercial banks has the largest share with 88.5% of total deposits, recorded as the highest yearon -year deposit growth of 7.2%, accumulating to P4.5 trillion as of September from the P4.2 trillion of the By: Mary Sharez Almaria
11th Young Economists’ Convention at UST By: Mary Del A. Jasa and Mary Ann A. Jasa
Last October12, 2011, the 11th Young Economists’ Convention was held at the UST Medicine Auditorium. This was the NCR Mini- Convention with the theme: Cross-Sectoral Collaboration for Greener and Sustainable Consumption and Production Processes. Young Economists’ Convention was established in 2001. This was the product of the collective effort of the DLSU Angelo King Institute for Economic and Business Studies, the Anthony Aguirre Memorial Foundation, USAID and the Konrad Adenauer Foundation in cooperation with Junior Philippine Economic Society and DLSU-EconOrg. YEC aims to present relevant economic issues and relate it to theories discussed in classrooms. This aims to endorse awareness of prevalent economic issues and initiate vital critical thinking among the youth. This NCR Mini-Convention was participated by the Thomasian and Lasallian economic students. 16
The registration started at 9:00 am. At about 9:45 am, the program started. The opening prayer and the National Anthem were led by the UST- Chorale. Dr. Tereso Tullao, Executive Director of the DLSUAngelo King Institute delivered the opening remarks stressing of how the environment was affected by the people’s decisions and actions. Troy Palanca explained the YEC Rationale.
Great number of speakers was invited. The first was Dr. Ernesto Gonzales who studied in the London School of Economics and an Economics professor at the University of Santo Tomas. He discussed with us the paradigm shift of economy to sustainable development through green economy. He also explained the rising group of K99- the 99% versus the 1% elite controlling the nation’s wealth. He also explained the contractualization law in the Philippines and its effect on the Filipinos. The second speaker was Ms. Eliza Gozun, former DENR Secretary. She explained that the main cause of the deterioration of the global environment is the unsustainable pattern of consumption and production. She also presented to us the different environment management strategies- regulatory approach, technical assistance, social approach and market-based approach. Green purchasing and ecolabelling were also discussed. According to her, in order to achieve sustainable development, we must reduce
carbon (mitigation) and reduce risks (adaptation). The third speaker was Mr. Rommel Juan, President of Binalot Fiesta Foods, Inc. He shared to us the story of how Binalot succeed. He did not consider only the profit but the environment as well in doing the business. He also helped certain communities through the DAHON foundation. We had our Binalot lunch. The program resumed at 1:30 pm. The next speaker was Dr. Arlene Inocencio, professor from DLSU who discussed the tips in writing a good economic research paper. The last speaker was Mr. Joel Tanchuco , an energy economist who explained to us the pros and cons of using biofuels. This was followed by the concept paper competition. The UST Chorale showcased their talents once again. The closing remark was delivered by Joren Tan. The young economists went home bringing new and valuable learning from the said convention.
UST and its Unending Grace By: Mary Del A. Jasa 400 years could have been enough! But the Royal, Pontifical, Catholic University of the Philippines – UST still stands strong as it ends its 400th year and starts its 5th century of existence. UST at 500 , UST at its Neo-Centennial year is looked forward by all Thomasians and other friends as well. UST will continue to live and produce best individuals excelling in all fields of endeavours. UST will have new challenges, new learning and new success! Last January 27, 2012, Day 5 of the Neo-Centennial Celebration marked UST in its 401 years going to UST at 500. These are the activities that have transpired: 8:00 am Q Cheer-making Contest; Cheermania (Plaza Mayor) 3:00 pm Kumpisalang Bayan sa Pamantasan (UST Chapel and Seminary Grounds) 4:30 pm Neo-Centennial Eucharistic celebration (UST Grandstand and Open Field) 6:00 pm 40,000 voices; Fireworks Display (UST Grandstand and Open Field) 7:00 pm Neo-Centennial Thomasian Grand Fiesta (UST Campus) 7:00 pm Neo-Centennial Grand Variety Show (UST Grandstand and Open Field) UST’s unending grace will be forever unending, surpassing all the challenges and changes of times. Thomasians with big smiles, proud hearts and good minds, let us welcome UST in its 401st year! 17
Until the very end, Harry Potter!
Freakonomics Author/s: Steven D. Levitt and Stephen J. Dubner Genre: Non-Fiction Rating: A
By: Pia Lopez
Ten years of Potter fever with eight movies, the Harry Potter movies finally reached its end. The final instalment of the Harry Potter movie series, Harry Potter and the Deathly Hallows part two, didn’t fail to top the Blockbuster hit chart. It even managed to reach third of the All Time Worldwide Box office hits. Harry potter fans or Potterheads (as they call themselves) all over the world hit the theatre as they say their goodbye to the Harry Potter films. Some Potterheads even wore costumes or fan shirts in watching the movie in the cinemas. There those who also bought some props such as wands and other Harry potter related objects. The final instalment of the Harry Potter didn’t fail to bring tears to most of the film viewers especially to those who loved the series since the first movie. The ending of the story brought sadness to fans all over the world. That only proves that J.K. Rowling’s Harry Potter series have a huge impact among the people who had read and seen the movies. Harry Potter and the Deathly Hallows part two is the continuation of Harry Potter’s journey into defeating the dark wizard, Lord Voldemort. The movie started where the part one left us all hanging, the part after the death of Dobby. This is also the movie where in the Golden Trio: Harry Potter, Hermione Granger and Ron Weasley, returns to Hogwarts to finish off their mission into finding and destroying Voldemort’s horcruxes. Also, starting the war against the dark sad that causes a lot of deaths. The movie also gave an emphasis on Alan Rickman’s character, Severus Snape. After years of wondering about his true loyalty, the final movie finally gave answers. Wherein, people started considering him as one of the greatest characters with twist in the series. Harry Potter had ten magical years, Eight Movies, Seven Books, Four different directors, and one story that touched millions of people. An end that made a lot of people cry. But just like what J. K. Rowling said “The stories we love best do live in us forever so whether you come back by page or by the big screen, Hogwarts will always be there to welcome you home.”
By: Pia Lopez A very interesting book that is not centred around one theme. Freakonomics is an interesting and easy to understand non-fiction book that is filled with simple yet non-typical questions that surrounds the issues and topics in economics. Freakonomics is filled with interesting subjects like the similarities of schoolteachers and sumo wrestlers, how is the Ku Klux Klan like a group of state agents, why drug dealers still live with their moms, where have all the criminals gone, and what makes a perfect parent. The good thing about this book that it gives strange yet interesting ideas that answers the certain questions from the given topic. It also shows the interesting relevance of the answers to crazy questions. The thing about Freakonomics is that it uses economic analysis to answer such crazy questions. Levitt and Dubner uses economic analysis to find answers to unique questions they can think of regarding different issues. Good questions and answers that can give relevance to people’s daily lives. They also showed in the book how conventional wisdom can be handier most of the time in facing problems than the usual way of thinking. The interesting fact about Freakonomics is that it doesn’t necessarily revolves around the answers it gives to the crazy questions that is given but also giving the right questions to be asked to be able to come up with good answers.
Mission: Impossible – Ghost Protocol
Mission: impossible is an action movie franchise with four films, four directors, and four impossible missions that never fails to be in the blockbuster hits. A movie filled with actions and a touch of humour, ‘Mission: Impossible – Ghost Protocol’ won’t fail our expectation for a good Tom Cruise movie. It’s one of the must watch movies from the year 2011.
By: Pia Lopez One of our favourite A-list Hollywood actors is back for an action filled 4th instalment of Mission: Impossible movie along with a new Academy AwardWinning American director, Brad Bird. After having five years of break, Tom Cruise is out once again reprising his role as our beloved IMF agent, Ethan Hunt. Another ‘Mission: Impossible’ film to prove his worth as an A-list star. “Your mission, should you choose to accept it”, Ethan Hunt is back to action along with his team with different personal motives: Benji Dunn (Simon Pegg) the brainy computer expert, Jane Carter (Paula Patton) the lovely yet platonic agent, and William Brandt (Jeremy Renner) the mysterious one among team. After being blamed for terrorist bombing, the President initiates Ghost Protocol and disallowed Ethan Hunt along with the whole IMF agency. Ethan Hunt and his team must find a way to clear the agency’s name. The movie is all about actions and gadgets, so it will never be complete without Ethan Hunt’s spy toys. Hunt uses cool spy gadgets and awesome motors while doing his missions. From special contact lenses to the “glue is blue” Gecko gloves, Mission: Impossible really do have the intense gadgets. Those amazing spy gadgets always have an impact in catching the attention of the viewers.
Up close with the AES President
-How hard it is to be in the highest position of our organization? Mahirap kasi parang lahat ng tao nakadepend sayo pero masaya kasi alam mo na sa lahat ng bagay may kasama ka.
By Mario Fidel Danao and Dean Joseph Villanueva
- In the scale of 1 to 10 (10-highest, 1-lowest), what’s your score if you assess your performance and the whole Executive board of AES? Please explain. I guess 6 because most of the officers are new so medyo nahirapan kami kasi na ngangapa pa lahat at the beginning. Pero nung matagal na okay na. Everybody were contributing in their own different ways.
Full name: SaraShiu Cristobal Nickname: Ara Year and Section: 4Economics2 -Why did you take up AB Economics? Because I like money. Joke. I took up Economics because I want to become a broker. -What is/are your least liked subject/s? *minor subject: PGC because it was my only 3 grade. I t was my 7 o’clock class. Back then I still live in Rizal so I was late all the time. *econ subject walanaman
-Your message to the next set of AES Executive Board especially the next AES President. Learn from the past and head for the future. Maramingnangyari this year but I do hope you will learn from all of this. Kaya niyoyan. Just work together and stay strong. -Your message to Artlets Economics Society as you hand down the legacy.
-What is/are your favorite subject? Algebra—I love it super! Calculus and financial eco---it’s math eh.
Hello It was an honor in serving you this year. Many things happened and transpired during the term. Some -Who is your favorite economics professor? Why? Ms. Leah Estacio. She makes the course extra are good and some are bad. But, I am very thankful that whatever happened, you remained by our side. challenging. Thank you for everything and I deeply apologize for -What is the usual thing you do when you feel stressed my shortcomings. Once again, thank you. in school? Eat lollipop or just eat anything Favorite hangout place in UST: lover’s lane. I feels so comfy there. BEING A PRESIDENT: -How does it feel to be the president of AES? Heavy. It’s like everybody is looking at you, watching you. But, it’s also fun because I was able to meet a lot of new people and do lots of stuff. -In your own opinion, what makes a Sara Cristobal different from the past and upcoming AES Presidents? She’s pretty, sassy and charming. Chos. We have our own unique ways in dealing with things. I think I tend to keep things at first. Although I am a very noisy person, I am not very communicative. Weird? I know. I am secretive when it comes to personal life and some problems. But, it will be slowly revealed. 20
Literary Angels My best friends are angels sent from above, who share their hearts with kindness and love. We tell of our hopes, our dreams, and our fears, in knowing our laughter will bring us to tears. How sweet is the thought of never being alone, with a friend so close it’s like coming home. The parties, the movies, the fun that we share, just make it so easy our souls to bear. What would I do without you around, to lift me up when I am down. God gave me a gift as sweet as can be, my own precious angels to watch over me. - Teri Parker –
2 A friend is 2. Never leaves 1 and 3. Always bridges 1 and 3. Can never stand without 1 and 3. Can you be my 2? By: Butterfly 22
Ode to A Beautiful Girl Your magnificent eyes, dark emeralds aflame Your silky bronzed hair, still perfect in rain The way you walk, a light antelope in prance So cheerful and happy, ever ready to dance Your lithe Brazilian figure, I marvel through the days How beautiful you do become, in the wondrous sunshine rays On those rare moments, when your eyes meet mine I feel a warm pleasure and a chill down my spine When I hear your sweet laughter, a melodious tune I feel alive, full of joy; I could fly to the moon I sit idly nigh always wishing you’d see Perhaps even come and sit down next to me I watch how you smile, and send jolts through my heart Your sensual features a fine work of art Sometimes I watch the evening’s amber sun And I calm myself down, from thoughts weighing a tonne The soothing orange invigorates my mind As do you, always so kind - Alexander Wojno –
A PRECIOUS PRINCE By: Amethyst Bajnde Good morning to my precious prince! Waking up seeing your face makes me happy all day You’re my savior! You’re my strength! You’re my protector! You’re everything to me I can’t sleep without seeing you. How I wish I could hold you closely and hug you. How I wish I can be there to help you and be with you all day. Thank you for making me smile and giving me courage to face the day. Difficult things go easy when I remember your face I will never make you sad until the day ends. I will never give up on making you happy everyday. I am hoping to see you soon my prince. You’re my light to my path. You’re my eye on my darkest night. You’re the person I never wanted to lose. I’m everything right now because you loved me. I dearly love you my precious prince.
THINK YOU ARE A CERTIFIED AB ECONOMIST? IF YES, YOU COULD ANSWER THESE QUESTIONS.
By: Amethyst Bajande ACROSS: 1. ____________ is a government policy for dealing with monopoly. 2. _______________ is a starting out as places that would guard your money, this became the main source of credit creation. 4.____________ is a MONEY or asset put to economic use, the life-blood of CAPITALISM. Economists describe this as one of the four essential ingredients of economic activity, the FACTORS OF PRODUCTION, along with LAND, LABOR and ENTERPRISE. 6. ___________ in the red – when more MONEY goes out than comes in. 8. ___________ is the “dismal science”, according to Thomas Carlyle, a 19th-century Scottish writer. It has been described in many ways, few of them flattering. The most concise, non-abusive, definition is the study of how society uses its scarce resources. DOWN: 1. __________ the running down or payment of a loan by installments. 3. ______________ a term used when a court judges that a debtor is unable to make the payments owed to a creditor. 5. ______________ The amount a company or an economy can produce using its current equipment, workers, CAPITAL and other resources at full tilt. 7. ______________ is mathematics and sophisticated computing applied to ECONOMICS. 9. ______________ You can’t tell them apart. Something is like this when any one single specimen is indistinguishable from any other. Somebody who is owed $1 does not care which particular dollar he gets. Anything that people want to use as money must be like this, whether it be gold bars, beads or shells.
ANSWER KEY: Across: 1.Antitrust 2.Bank 4.Capital 6. Deficit 8. Economics Down 1.Ammortization
ECON - BANAT
Scarcity ka ba? --ramdam ko ang pagkukulang mo eh.
3.Bankruptcy 5.Capacity 7. Econometrics 9. Fungible
by Zee Halagao
Econometric Model ka ba? --Rampa ka na lang.
Inflation ka ba? --nagmamahalan na kasi lahat pwera tayo.
Supply ka ba? -- I demand you in my life.
Econometrics ka ba? --hirap mo kasing itindihin eh.
Equilibrium ka ba? --kase I think balance tayo eh! 24
The Official Newsletter of the UST Artlets Economics Society