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Understanding Economics in the Philippine Setting

After more than 25 years Understanding Economics in the Philippine Setting has maintained a growing number of readers who use it as their introductory textbook in their high school economics subject. The distinct qualities of the previous editions of the book have been maintained in the fourth edition.

Tereso S. Tullao, Jr., PhD

Level/s: High School

  • To enhance the instructional qualities of the book, three major changes were made in the fourth edition of Understanding Economics:
    • First, two chapters were added to comply with the requirements of the K to 12 Curriculum for Social Studies as prescribed by the Department of Education.
    • The second major change in the revised edition is the updating of information and data that are incorporated in several chapters that reflects changes in the Philippine economy since the last revision of the textbook. Tables and figures, as well as their analyses, were rearranged, improved, and updated.
    • The third major change is the transformation of Understanding Economics as a textbook of choice for
    students and teachers in bridging the study of economics between high school and college.
  •  Aside from improving the previous editions, all of these changes are being made to make the fourth edition of Understanding Economics in the Philippine Setting contribute in molding the economic consciousness of the Filipino youth as an appropriate initial textbook for high school students in understanding the issues confronting the Philippine economy.



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Dr. Ernesto Y. Sibal was one of the few Filipinos in academic publishing who can irrefutably lay claim to these three titles—Patriot, Pioneer and Innovator. A staunch patriot, Dr. Sibal fiercely advocated the vision of designating Filipino-authored books for young Filipino learners. This vision was enabled by the establishment of Alemar’s Bookstore in 1958, and through the foresight and drive of Alegria Rodriguez, who shared in the vision of her husband, she helped galvanize then fledgling Alemar's Bookstore as the place to go for textbooks and school needs, propelling it to become the first established bookstore chain in the country.



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