n June 11, 2014, the Mid-Year Economic Briefing was held in the Li Seng Giap Auditorium in the University of Asia and the Pacific.

of farmers who provide food for the population but are mostly at the bottom of the pyramid. Ms. Cherry Rodolfo shared with the audience her thoughts regarding the development of tourism in the country. She labeled Philippine tourism as the “rising star” as its contribution to GDP growth continues to expand, and as the country becomes the top tourist destination of extra-Asean visitors among its regional peers. She also recognized domestic travel as the backbone of Philippine tourism. In spite of the sterling growth demonstrated by the sector, Ms. Rodolfo still cited some key developments that can further improve its performance, such as infrastructure, products and destinations, access and facilitation, as well as governance and institutional development. Dr. Roberto De Vera, the fourth speaker, focused on rural-to-urban migration, which appears to become more and more prominent in the country. He mentioned the expansion in the urban population and the simultaneous contraction in the rural population, as people continue to flock in the cities to look for better livelihood opportunities. In order to accommodate this growing phenomenon, Dr. De Vera turned to the private sector and the government so as to provide more job opportunities for the people. He also stressed the importance of protecting the people by investing in their health and education. Last but not the least was Dr. Bernardo Villegas, who discussed about inclusive growth and the necessary means to attain it. He explained that besides inflation-targeting, the central bank should also focus on poverty-targeting wherein the country has the worst record among its peers. However, he reminded that alleviating poverty is not only dependent on the central bank because it also requires the collaboration of the state, the private sector, and the civil society. He added that though economic growth is indispensable to attain

Vol. 1 Issue 1 August 1, 2014

WHAT’S NEW?Mid-Year Economic Briefing Focusing on

Countryside Development

“The greatest sin of Philippine society is neglecting farm-to-market roads”- Dr. Bernardo Villegas

OStudents, professors, businessmen, and several delegates attended the briefing which centered on countryside development. Five speakers specializing in their own fields of expertise enlightened the audience on how to improve the outskirts of the country in order to augment the economic growth that appears to come mostly from the metropolis and the urban areas. Ms. Viory Janeo, a professor in the School of Economics, hosted the event. The event commenced with the introductory speech given by Dr. Peter Lee U, Dean of the School of Economics. Dr. U mentioned the 5.7% GDP growth posted in the first quarter of 2014, which pales in comparison with the growth of at least 6% recorded in the last eight quarters. He cited the super typhoon Yolanda, which devastated the economy last November 2013 and damaged millions worth of infrastructure and agriculture, as a significant slowing factor. In order to galvanize the economy after a slow start, he acknowledged the importance of redesigning the countryside and involving more people to contribute to economic growth. Dr. Victor Abola kickstarted the event by discussing about the macroeconomic indicators. He highlighted the robust domestic demand driven by OFW remittances that funnel profusely into the economy, as well as the healthy supply of international reserves. Money sent by OFWs also contributed in increasing savings, consequently applying a downward pressure to interest rates which helped stimulate economic activity. Dr. Abola also mentioned that the Philippines is the last to enter the demographic window among regional peers, and that the country should take advantage of the growing supply of the working population. However, he also pointed out the internal threats to growth, such as the truck ban in Manila and the perennial problem of power shortages and high cost of energy. For his part, Dr. Rolando Dy dwelled on the potential of agribusiness in the country and accented the need to develop the agricultural sector. He mentioned the problems festering the agricultural sector, such as low farm productivity, negative balance of trade in agriculture, and the lack of investments that shackles the development in the sector. In order to revolutionize the agricultural sector, he recognized the different agribusiness models that have worked for the several countries in Southeast Asia and pointed to the possibility of imitating them, or even of coming up with our own. He also cited the many opportunities in the sector, such as the growing of cacao, coffee, corn, cassava, and coconut and their potential to create huge amounts of profit. The creation of non-farm jobs, according to him, is also paramount so as to support the livelihood

Available courses in SEC:- Master of Science in Industrial Economics (IEP)- Master of Business Economics (SBEP)- Master of Applied Business Economics (ABEP)

PACUCOA grants Level III accreditation to SBEP, ABEP, IEP of UA&P

IEP Students Marcella Maria Karaan and Ivy Zuñiga were recognized as part of the top ten outstanding economics students by the Junior Philippine Economic Society

SEC Faculty, Dr. U and Ms. Martin, present in East Asia Development Network Annual Forum

BEA Primer August 1, 2014

inclusive growth, it is not sufficient because there are other factors that should be improved on. An example of which is the construction of farm-to-market roads. According to him, “the greatest sin of Philippine society is neglecting farm-to-market roads” because these roads have a rippling effect to the economy. Not only do they improve tourism, they also assist poor farmers to transport their produce more easily. He also criticized the failure of the government to execute Public-Private Partnerships (PPP) that have the potential to boost the economy but are often held in abeyance. He further added that the government should also improve human capital by ensuring that the public have access to maternal health services and potable water, as well as technical education that can help them, especially the poor, to secure a job. The event ended with an open forum wherein the audience conversed with the speakers by asking questions and clarifying matters that are related to the briefing. The audience took the opportunity to share their thoughts and to voice their concerns, which were gladly responded with by the speakers

- German de la paz III

WHAT’S NEW?

IEP Students atDifferent Epochs

he journey towards an endeavor occurs in stages. This also goes true with being future economists. Individuals go through stages being

These stages, which the students face, reflect how the transition of going through one experience to the other becomes a honing agent that molds the students’ abilities to be deserving of the stage where they are at. Though passing through different stages is not a walk in the park, the several stages along with the challenges that come with it equip the students to become excellent in their own field. Hopefully, all will be able to go through the journey and attain their endeavor as excellent future economists of the country.

- Nikka Pesa

UA&P School of Economics: The First.

The Best.eing the pioneer course in the University of Asia and the Pacific (UA&P), the School of Economics (SEC) rose up to the occasion and proved

Tequipped with the necessary factors in order to become prepared to the challenges that every stage would offer.

On June 7, 2014, a momentous stage has been passed by the Batch 2014 graduates of University of Asia and the Pacific. The graduation ceremony was held in the Philippine International Convention Center. A graduate from the School of Economics, Gilleane Julia V. Altuna, was among those who topped the batch as Magna Cum Laude. Together with her were Francesca Nicole C. Torres from the School of Management and Eunice T. Contreras from the School of Education who was also the Batch Valedictorian. Jenalyn L. Balmes, another graduate from the School of Economics received a latin honor as Cum Laude together with Grayson Gil L. Yañez from the School of Communication and two from the School of Humanities, Meryl Kei D. Cariaga and Katrina Monica T. Cajucom. The graduates exemplified a major transition towards pursuing their careers. Another stage has passed which signals that a new stage will begin.

Besides the IEP graduates who achieved a significant milestone in their lives, there are economics students who chose to embark on another journey and entered the graduate school after finishing their undergraduate program for 4 years. The School of Economics, at present, has 19 students taking their Master’s Degree Program for the Academic Year 2014-2015.

Moreover, another interesting and exploratory stage comes with the new batch of IEP students entering their first year. On June 3, 2014, these students started their year fresh and exciting with the Freshstart event organized by the Office of Student Affairs. This year, there were 16 students from the freshman batch enrolled in the Masters of Science in Industrial Economics while 14 students are enrolled in the Bachelor of Arts in Economics Program.

Bonce again why it deserves its chosen tagline. Coming from the ranks of their renowned founders such as Dr. Bernardo Villegas and Dr. Jesus Estanislao, a number of IEP students bagged several awards that would be added to SEC’s already long list of achievements.

Last March 2014, the UNITAS Awards was held to acknowledge the students who exemplified excellence in their craft. Gilleane Altuna, the Business Economics Association (BEA) President for school year 2013-2014, was recognized as the Organization President of the Year because of the organization’s contribution to the university and to society as a whole. It was not the first time for the organization to receive such award. Yroen Guaya Melgar, the BEA President for school year 2012-2013, was also given the same recognition.

The School of Economics aims to mold its students into great economists who would have an impact to the society. A testament to this objective was the conclusion of The Search for the Ten Outstanding Economics Students that was organized by the Junior Philippine Economics Society on April 5, 2014, where a couple of promising students under the Industrial Economics Program from UA&P were recognized. Marcella Maria Karaan and Ivy Zuñiga formed part of the Top 10, along with students from other universities such as De La Salle University, San Beda College, University of Santo Tomas, and University of the Philippines Los Baños. Both of the students are currently pursuing their Master’s Degree in Industrial Economics in UA&P.

Another allusion to SEC’s unwavering pursuit of excellence is the Level III reaccreditation status that the Philippine Association of Colleges and Universities Commission on Accreditation (PACUCOA) granted for the Master of Business Economics Program, Master of Science in Industrial Economics Program, and the Master in Applied Business Economics Program of UA&P on December 6, 2013. “Recognized as a leading economics school and as a catalyst of economic progress in the Philippines and in Asia, the UA&P School of Economics has earned a reputation for highly relevant economic research,” UA&P said.

With all these achievements, the School of Economics provides sufficient evidence why it should be tagged as The First and The Best.

- German de la Paz III

Dr. Thomas G. Aquino, IEP alumnus, blazes trail as Chairman of Now Corporation

The Primer is the official quarterly newsletter of the Business Economics Association (BEA). A collaborative publication by the Research and Academics Office, Marketing and Communications Office, and the Creatives Office.

Contact us:

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BEA President Gilleane Altuna is the Organization President of the Year

Synergize: IEP batches come together to welcome new Academic Year