De La Salle Santiago Zobel School

High School Social Studies Unit

AY 2015-2016

First Term
Contemporary Issues in the Philippine Economic System
Assessment 1 (KPU)

CN:
Name: _____________________________________
Section: G10- ____ Date: _____ Teacher: Ms. Gavan /
Ms. Lubuguin

K= ___
5

P= ___
9

U= ___
6

I. KNOWLEDGE: Identify the contemporary issue described in each sentence. Write the capital
letter that corresponds to your answer on the space provided.
A. POVERTY

B. UNEMPLOYMENT

C. CORRUPTION

D. CHILD LABOR

E. POOR INFRASTRUCTURE

F. HIGH INFLATION

__________ 1. The increase in a currency supply relative to the number of people using it
__________ 2. The abuse of bestowed power or position to acquire a personal benefit
__________ 3. A situation where a person is currently without an occupation and/or actively seeking
work
__________ 4. The practice of having children in any work that deprives them of their childhood,
interferes with their ability to attend regular school and that is mentally, physically,
socially or morally dangerous and harmful
__________ 5. Characterized as a state of one who has insufficient amount of material possession or
money to meet their basic needs
II. PROCESS: Based on the editorial cartoons below, explain briefly how each cartoon reflects
the economic issues we are facing today. Write your explanation on the space provided for
each cartoon.

Source: Retrieved from

http://dipolognon.com/SouthpointEditorialCartoon042108.jpg

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________

Source: http://opinion.inquirer.net/inquireropinion/editorial/view/20081218178561/Control-of-corruption?ModPagespeed=off

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________

Source: Retrieved from

http://manilastandardtoday.com/2013/06/14/unemployment/

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________

Rubric for Grading the Essay

3 Answer is correct and clear. Two examples are given as supporting details.
2 Answer is correct. An example is given as a supporting detail.
1 Answer is correct but no supporting details are given.
0 No answer is given.

III. UNDERSTANDING: Read the editorial below and write a brief yet thorough commentary on
how the issue discussed affects our current economy. Refer to the rubric for grading.
Economic Optimism
Multilateral lender World Bank has nothing but praise for the Philippines, observing that it is moving toward more
inclusive, sustainable growth that can further slash poverty, and forecasting its leadership in the region in terms of
economic growth in 2015 and 2016.
Despite bureaucratic inefficiencies (the government has been spending much less than it has programmed, depriving
the public of essential services), the positive prognosis has been traced to the fact that other economies around the
world are facing stronger head winds. Besides, the Philippines can always rely on its own growth driversthe more
than 10 million Filipinos working overseas who send home nearly $2 billion a month, the burgeoning BPO (business
process outsourcing) sector that earns billions of dollars as well, and a regime of low interest rates and inflation that is
conducive to business expansion. Externally, something going for the Philippines is the depressed prices of crude oil
(it imports nearly all of its petroleum requirements). For 2016, a particular growth driver is the increase in consumer
spending due to the national elections scheduled in May.
Rogier van den Brink, World Bank lead economist in the Philippines, told members of the media last week on the
sidelines of the Asia-Pacific Economic Cooperation Senior Finance Officials meeting in Bataan that the country has
achieved macroeconomic stability, high growth rates, and more recently is starting to show the kind of growth which is
more inclusive. In a report released Friday in Washington, the World Bank also kept its growth projections for the
Philippines at 6.5 percent in 2015 and 2016 and 6.3 percent in 2017.
Van den Brink was not worried by the governments underspending in the first quarter, which had largely been blamed
for the slower-than-expected 5.2-percent GDP growth. He said the Aquino administration was already working to ramp
up public spending, such that the rest of the year should show improved expenditures.
The big story, according to the economist, is that the Philippines has established a clear trajectory toward growth that
is more inclusive, which can be sustained if economic reforms continue. He said that about 20 or 30 years ago, reports
on the Philippines were all about boom-and-bust cycles related to macroeconomic instability. Real growth was low,
inflation rates were high, the current account balance was negative, budget deficits were high, and national
government debt was soaring. But in recent years, he observed, such issues were no longer major concerns because
real growth was ranging from 5 to 7 percent, prices had stabilized, the current account was registering surpluses, and
Philippine finances were stronger than ever.
The World Banks prognosis for much of the rest of the world is different. In its latest Global Economic Prospects report
released last week in Washington, it warned that developing countries are facing a series of tough challenges in 2015,
including the looming prospect of higher borrowing costs as they adapt to a new era of low prices for oil and other key
commodities, resulting in a fourth consecutive year of disappointing economic growth. Developing countries are now
projected to grow by 4.4 percent this year, with a likely rise to 5.2 percent in 2016 and 5.4 percent in 2017.
Developing countries were an engine of global growth following the financial crisis, but now they face a more difficult
economic environment, lamented World Bank Group president Jim Yong Kim. The US Federal Reserves forthcoming
first interest rate hike since the global financial crisis can ignite market volatility and reduce capital flows to emerging
markets. Lower prices for oil and other strategic commodities have intensified the slowdown in developing countries,
many of which depend heavily on commodity exports.
The Philippines is indeed in a sweet spot. But moving forward, it will do the government well to heed the advice of the
World Bank president: We believe that countries that invest in peoples education and health, improve the business
environment, and create jobs through upgrades in infrastructure will emerge much stronger in the years ahead. These
kinds of investments will help hundreds of millions of people lift themselves out of poverty.
Source: _____. (2015, June 16). Economic Optimism. Philippine Daily Inquirer. Retrieved from
http://opinion.inquirer.net/85889/economic-optimism#ixzz3eNsv53zK

____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
Rubric for Grading the Commentary
CRITERIA

PROFICIENT

Accuracy of
Content

3
The answer
presents
cohesive
standpoints.
Various
concepts
learned in class
are accurately
used.
3
All ideas
presented are
coherent.

Organization of
Ideas

APPROACHING
PROFICIENCY
2
There are some
relevant
standpoints
present. Some
concepts
learned in class
are applied.

DEVELOPING

BEGINNING

1
Most standpoints
and concepts used
to support the
answers are
unclear.

2
Most of the
ideas presented
are coherent.

1
Some ideas
presented are
coherent.

.0
The answer
does not
show
coherent and
substantial
standpoints.
Vital concepts
on the topic
are not stated.
0
There is
incoherence
in the
organization
of ideas.