Equilibrium:

The Official Publication of UST-EcoSoc

Born of New Legacy
The Inauguration of Presidentelect Benigno C. Aquino Jr.
V O LUME 2 , I SSUE 1 J UNE O CT OBE R 2010

We

have witnessed the historical inauguration of the 15th president of the Republic of the Philippines, Benigno Simeon Cojuangco Aquino III, together with the new Vice-President, Jejomar Cabauatan Binay last June 30, 2010. The event was truly endearing since there were countless of people, including celebrities and delegates from other countries, who came to see the most anticipated inauguration of the year. The highlight of the event was the Presidents inaugural speech, which consists his platform for the next six years. More than 400,000 people flocked to the Quirino Grandstand to witness the unfolding of a new chapter in Philippine history. But before the most awaited inauguration, singers, Noel Cabangon, Juana Change, Christian Bautista, etc., offered an entertainment to the audience. The inaugural program officially started when the incoming President and

Vice-President came. The National Anthem was led by Charice Pempengco followed by the Ecumenical Invocation. Came after were more singers i.e. Madrigal Singers, APO Hiking Society, Ogie Alcasid, and Regine Velasquez. Moreover, there were more than 85 international delegates from other countries who were sent as representatives. Senate President Juan Ponce Enrile read the result of the election and proclaimed the new President and Vice-President. After that, the oath taking ceremony took place, conducted by Associate Justice Conchita Carpio-Moralez. The first one to take the oath was the Vice-President elect Jejomar Binay followed by the President elect Benigno Aquino III. A 21-gun salute was rendered after the oath taking. Finally, the long wait for the delivery of his speech is over. The President

I N S I D E T HI S IS S UE :
Ka-1 sa 2011 MMITE GA EcoSoc Officers Why Indonesia Overperforms RP Interview with a Prof Economists as Writers 4 6 7 8-9 10 13 15

Presdent Benigno Aquino giving his inaugural speech. Photo by April Maligayo

EQUILIBRIUM EDITORIAL STAFF

started by declaring the source of his inspiration, that is, the thousands of people who believe in him. The speech was in Tagalog so that people will understand him. (Cont. Page 2)

Shalom Makasiar Editor-in-Chief Kristine Distor Associate Editor Kristine Vergara Managing Editor Salvador Briggs Calo III Hazel de Guzman Features Editors Jason Comia Literary Editor Jhoanna Pontanos News Editor Christian Lacia Marinelle Marron Layout Artists April Maligayo Karen Vidar Senior Photographers

P. Noy on the State of Our Nation

By: Genesa Rosales

July

26, 2010, a day which everyone was anxious about. This is when our newly elected president, Benigno Cojuanco Aquino III delivered his first State of the Nation Address (SONA). Politicians, celebrities, every Filipino, even the foreigners were very interested in what

the President has to say. As all of the SONAs delivered by the past leaders of our country, Pres. Aquino started his report about the things that the past administration has done for the country. Anomalies with the budget and different agencies were his main concerns. Startling

amounts of money were reported to have been placed on less useful purposes just before the former president leaves her post. This led to a further increase in the budget deficit of our country. (Cont. Page 2)

P AGE 2 UST Economics Department Faculty

V O LUME 2 , I SSUE 1

Born
(cont. from page 1)

Almario-Miguel, Alma Aileen, M.A.

Economics Department Chairperson theme of his address with the and effective governance that

Corruption

was the main President assured a good, honest will transform the government from one that is self-serving to one that works for the welfare of the nation; ethical, honest and true public servants and leaders; reviewing midnight appointments; lessen the lack of infrastructures for transportation, tourism and trade; revival of the emergency employment program; quality education, including vocational education and addressing the glaring shortage in classrooms and educational facilities; improve public health services such as PhilHealth for all within three years; a home for every family, within safe communities; strengthen the armed forces and the police; security for farmers to to help them with irrigation, extension services, and marketing their products at the best possible prices; create employment at home; however, while working towards that end, tasked are relevant agencies to be more responsive to the needs and welfare of the overseas Filipino workers; strengthen the process of consultation and feedback;

saying kung walang korap, walang mahirap as the founQuijano-Arsenio, Jodylyn, Ph. D. dation of his administration. He promised to design and UST Economics Society Adviser implement an interaction and feedback mechanism that can effectively respond to the Baluyot, Mary Hildence, M.A. peoples needs and aspiraCabauatan, Ronaldo, M.A. tions; stated the problems of the country for the past few Cabral, Cristina, Ph. D. years; and shared that he is tired of a government that has Calara, Ma. Socorro , Ph. D. been blind and deaf to the Dinio, Rosemary, Ph. D. peoples cry. The President vowed that under his adminiPaguta, Ronald, M.A. stration, no more junkets, no Quesada, Francis Ian, MSF Candidate more senseless spending, and no more turning back on Racho, Clarissa Ruth, MDE pledges made during the campaign; whether today or in the Rosete, Marie Antoinette, MDE coming challenges over the next six years. Walang wang Valdez, Karen Grace, MBA -wang, walang counterflow, walang tong were the words Villasis, George, M.A. that were instilled in the peoples minds. The Administration In addition to his speech, his platform conProf. Ma. Socorro P. Calara, Ph. D. tained the promises of change that his administration College Dean pledged to implement. The
Rev. Fr. Senen R. Ecleo, O.P. College Regent
Prof. Mary Hildence M. Baluyot, M.A.

President Benigno Aquino commenced his first hand salute as the new Commander-in-Chief of AFP. Photo by April Maligayo and lastly, committed peaceful and just settlement of conflict in Mindanao. After the speech, he was given honor and recognition by the AFP (Armed Forces of the Philippines) as the new president of the Republic of the Philippines. Another 21-gun salute was given when the president arrived at the Malacaang Palace. The inauguration ceremony was peaceful, successful, and remarkable. The attendees were joyful and contented with what the President had said. In spite of the hot weather, they all went home with a smile in their faces. Jhoanna Pontanos lems that were not addressed in the past administration. A Truth Commission was also said to have been formed in order to address the frauds that were committed in the last nine years. While according to the President, many investors have expressed interest in supporting the nations needs through public-private partnerships without having the government spend much of its budget or even none of it, many things are yet to happen in the next six years. What we are left to do is to be good citizens and we can only hope that the plans in Pres. Benigno Aquino IIIs first State of the Nation Address become reality when he delivers his next one.

P.Noy (cont. from page 1)

Products
such as rice and water which were some of the aggravating problems of our nation were also mentioned. In 2008, there was a shortage in the supply of rice in our country. Our fellow citizens lined up for long hours in order to get little amount of rice to eat when according to Pres. Aquino, the National Food Authority (NFA) has imported excessive amounts of rice in the years before. These excessive supplies of rice have only been stored in warehouses and ended up rotting which brought forth the rice shortage. And just recently, we also experienced water failures. Many people also suffered from not having water to drink. The funds that were supposed to be used for maintaining our watersheds in order to improve water supply was said to be wrongfully used by giving too much salaries and benefits to the officials of Metropolitan Waterworks and Sewage System (MWSS). Many more anomalies and misuse of fund were mentioned by Pres. Aquino. Some of them are startling, while some of them, we already knew of. The Presidents solution to these problems is a zero-based approach by stopping the wasteful use of government funds and creating a budget that focuses attention on solving the prob-

Assistant Dean Asst. Prof. Maureen H. Gelle College Secretary

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P AGE 3

Remembering the Platform

8. From government anti-poverty programs that instill a doleout mentality to well-considered programs that build capacity and create opportunity among the poor and the marginalized in the country. 9. From a government that dampens private initiative and enterprise to a government that creates conditions conducive to the growth and competitiveness of private businesses, big, medium and small. 10. From a government that treats its people as an export commodity and a means to earn foreign exThe Vision for the Philippines: change, disregarding the social cost to Filipino families to A country with 1. A re-awakened sense of right and wrong, through the liv- a government that creates jobs at home, so that working abroad will be a choice rather than a necessity; and when its citiing examples of our highest leaders; 2. An organized and widely-shared rapid expansion of zens do choose to become OFWs, their welfare and protection our economy through a government dedicated to honing will still be the governments priority. and mobilizing our peoples skills and energies as well as Government Service the responsible harnessing of our natural resources; 3. A collective belief that doing the right thing does not only 11. From Presidential appointees chosen mainly out of political accommodation to discerning selection based on integmake sense morally, but translates into economic value as well; 4. Public institutions rebuilt on the strong solidarity of our soci- rity, competence and performance in serving the public good. 12. From demoralized but dedicated civil servants, military ety and its communities. and police personnel destined for failure and frustration due to inadequate operational support to professional, motivated and Our Mission: We will start to make these changes first in ourselvesby doing energized bureaucracies with adequate means to perform their the right things, by giving value to excellence and integrity and public service missions.

The

country again has undergone a change of administration. Not all were happy with the result yet the people had spoken. During the campaign period, the country had been bombarded with the never-ending promises and pledges from the candidates, and we, the voters were hanging by the hope of getting all of them done as promised. Here is the platform* of the newly elected President Benigno S. Aquino III, which he says, his Social Contract to the Filipino People:

rejecting mediocrity and dishonesty, and by giving priority to Gender Equality others over ourselves. We will make these changes across many aspects of our national 13. From a lack of concern for gender disparities and shortfalls, to the promotion of equal gender opportunity in all spheres life. of public policies and programs. A Commitment to Transformational Leadership: 1. From a President who tolerates corruption to a President who is the nations first and most determined fighter of corruption. 2. From a government that merely conjures economic growth statistics that our people know to be unreal to a government that prioritizes jobs that empower the people and provide them with opportunities to rise above poverty. 3. From relegating education to just one of many concerns to making education the central strategy for investing in our people, reducing poverty and building national competitiveness. 4. From treating health as just another area for political patronage to recognizing the advancement and protection of public health, which includes responsible parenthood, as key measures of good governance. 5. From justice that money and connections can buy to a truly impartial system of institutions that deliver equal justice to rich or poor. Peace & Order 14. From a disjointed, short-sighted Mindanao policy that merely reacts to events and incidents to one that seeks a broadly supported just peace and will redress decades of neglect of the Moro and other peoples of Mindanao. Environment 15. From allowing environmental blight to spoil our cities, where both the rich and the poor bear with congestion and urban decay to planning alternative, inclusive urban developments where people of varying income levels are integrated in productive, healthy and safe communities. 16. From a government obsessed with exploiting the country for immediate gains to the detriment of its environment to a government that will encourage sustainable use of resources to benefit the present and future generations.

President Aquino promises a term of service served with integrity and transparency. Lets be vigilant, cautious and responsible with Economy the power we vested to the new administration. It is our rights 6. From government policies influenced by welland it is the peoples power that we freely surrendered to the connected private interests to a leadership that executes all the government, hoping that we will see the face of A new Philiplaws of the land with impartiality and decisiveness. pines at the end of 6 years. Kristine Distor 7. From treating the rural economy as just a source of problems, to recognizing farms and rural enterprises as vital to achieving food security and more equitable economic *from NOYPIPOL: The Official Blog of Sen. Benigno 'Noynoy' Aquino growth, worthy of re-investment for sustained productivity.

P AGE 4

V O LUME 2 , I SSUE 1

A Tribute to the 400 years of Uneding Grace

The very first event held as a tribute to the upcoming celebration
of USTs 400 years of Unending Grace was the Ka-1 sa 2011, organized by the College of Commerce and Business Administrations Staff, Faculty, and Students. It was also served as an Alumni Homecoming that happened on June 19, 2010. At the St. Raymunds Building, the Economic Society prepared a Confluence about an alumnus life after graduation. The speaker was a Cum Laude of College of Commerce and Business Administration Major in Economics Batch 2002; started as a writer/reporter of the publication Business World; have worked in Bangko Sentral ng Pilipinas in Treasury Department for four (4) years. She is none other than Ms. Liezel Antonio. At first, she had a hard time of finding job went through a lot of interviews. She has been doing various works within different companies and as she went through the transition of working environment, she realized that her first job was the point of comparison. As a result she started to weigh the pros and cons of being in a government office and private companies. She would rather stay in a private company since the pay is high, the processing of papers is faster, fresh ideas are welcomed, promotion is easy, and less bureaucracy. On the other hand, government offices pays low compare to the private companies, and ideas are limited since there are norms or rules to be followed. In spite of the differences between the two sectors, both have the same political problems. She also gave tips on how to land a good job. According to Ms. Antonio, one must have a good communication skills, good in academics, active in organizations, and most of all, one must have a leadership skill. Almost all of the Thomasians have these characteristics but the problem is, according to her, Thomasians are less assertive. She also added that, nowadays, companies are looking for those applicants with higher EI (emotional intelligence) than IQ (intelligence Quotient), which is a characteristic that the Thomasians has. It is also important to build contact with other people inside the job.

Prof. Alma Almario Miguel with the speaker, Ms. Liezel Antonio, and two other alumni of Economic Society. Photo by Shalom Makasiar

Before the talk ends, she entertained some of the audiences questions. Q: Is the on-the-job training (OJT) helpful for the students to be hired easily? A: I think it is. Since the company has the idea of what the students are capable of doing and they are already knowledgeable on the given tasks. Q: Is it better to have a Masters degree before applying to work? A: No. I think it is always better to work before having a Masters degree since some private companies require it. After the confluence some still have time to linger around the classrooms, while some left to wait for the start of the raffle at the Quadri Park. Everybody was excited as their raffle tickets numbers were called. Major prizes were given away to the students, faculty and alumni. The program ended after the Pledge of Commitment, led Dr. Cristina Castro Cabral. The weather was patiently waiting for the program to end before the clouds let go of its droplets. Shalom Makasiar sion is visible. As fresh as they may be in this department, the juniors know what to expect from their subjects. They know it wouldnt be easy and are wishfully thinking that their professors would be as supportive as they can be. The juniors would be supporting all the activities of the Economic society and they trust the council that there would be a very open communication between them. The adviser of the Economic Society Prof. Jodelyn Quijano-Arsenio presented a short speech to the juniors. Aldric Arriola, then, ended the program by giving thanks to the juniors and telling them to support their programs. The juniors have a long year ahead of them, a long year accompanied by learning, excitement, and excellence.

Economics Society Junior Orientation

By Jeriline Garcia

Last June 30 2010, the Economics Society held the junior orientation at the Commerce AVR. The event started with a prayer led by Ken Ucang from 3E5, followed by an opening remark by the president of Economics Society, Aldric Arriola. He started his talk regarding the activities (i.e. seminars, interclass competitions, exhibits and outreach programs) that the Economics Society planned for the two semesters. Soon after, Assistant Prof. Alma Aileen Almario-Miguel mentioned the vision and the goals of the organization. She proceeded by discussing the curriculum of the third year and fourth year levels including a reminder of the

general guidelines enclosed in the handbook. She ended the discussion by asking who is an economist? While Prof. Alma is quoting each line of the who is an economist? the juniors were reflecting and assessing themselves and knew that they have some concerns about this and upcoming semesters. The concerns of the juniors, primarily, are the challenging subjects. The juniors have come this far that they are pressured to pass all of the subjects. Secondarily, the new people they met. Some were happy, some were not. But regardless of how each one of the juniors, they have to face this new set of classmates and just be who they are and make the best out of each other. And finally, to defend their thesis and to be able to graduate in time. As they push through with their degree, the excitement, fear and apprehen-

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Reduce poverty through improved education and youth opportunities. Under the Medium-Term Philippines Development Plan, 20042010, the government aims to fight poverty by building
prosperity for the greatest number of the Filipino people. One of the five main parts of the plan is through education and youth opportunity. So far, some of the targets are most likely to be attained while some are not. According to the report from National Statistical Coordination Board (NSCB);
Target On Basic Education Net enrolment ratio (NER) at elementary level will increase to 91.0% in SY 2005-2006 93.0% in SY 2010-2011. Net enrolment ratio at the secondary level will increase to 67.5% in SY 2005-2006 and 83.7% in SY 2010-2011 Cohort survival rate at the elementary level will increase to 73.0% in SY 2005-2006 and 78.0% in SY 2010-2011 SY 04-05 87.1 SY 05-06 84.4 Comparison SY 06-07 83.2 SY 07-08 84.8 SY 08-09 85.1 The net enrolment ratio at the elementary level showed a fluctuating trend with the 2010 target not likely to be attained. The net enrolment ratio at the secondary level has exhibited minimal changes since SY 2004-06 and remains far from the 2010 target. The cohort survival rate at the elementary level is generally increasing and the target is likely to be attained. Cohort survival rate at the secondary level experienced increments starting in in SY 2006-2007, and hovering near the 80 percent mark, thereby exceeding the target in the last five years, except in SY 200506 Dropout rate at the elementary level showed big improvement in SY 2006-2007 but remained at around 6 percent since then but still higher than the target. Dropout rate at the secondary level improved starting from SY 20062007 and remained at around 8 percent in the succeeding years; thus, the target has been attained. The target number of pupils per classroom has already been achieved at the elementary level since the start of the plan period. Construction of more classrooms was vigorously pursued, thus, exceeding the target since SY 2004-2005. The number of textbooks per pupil/student for both levels was maintained as targeted Number of pupils/students per teacher for both levels maintained but lower since the start of the plan period. Performance

60.0

58.5

58.6

60.3

60.7

71.3

70.0

73.4

75.3

75.4

Cohort survival rate at the secondary level will increase to 68.0% in SY 2005-2006 and 71.5% in SY 2010-2011

78.1

67.3

77.3

79.9

79.9

Dropout rate at the elementary level will decrease to 5.5% in SY 2005-2006 and 4.3% in SY 2010-2011

8.6

5.5

6.4

6.0

6.0

Dropout rate at the secondary level will decrease to 11.2% in SY 2005-2006 and 8.1% in SY 2010-2011 Maintain a classroompupil/student ratio at an average of 1:50 P S

15.0

11.2

8.0

7.5

7.5

59 57

37 56

37 56

39 54

39 56

Close the classroom gap; 6,000 classrooms built per year P S P S

12,490

9,407

10,541

15,215

9,835

Maintain a 1:1 textbookpupil/student ratio

1 1 35 41

1 1 35 40

1 1 35 39

1 1 35 39

1 1 35 39

Maintain a 1:50 teacherpupil/student ratio

*P=Primary; S=Secondary

(cont. to page 12)

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V O LUME 2 , I SSUE 1

Finessing the motions: EcoSoc inter-class debate

By Teffanie Quibod with reports from Shaira Manliclic and Jeriline Garcia
environment. During the debate, we ety held their inter-class debate entitled can observe slight stutters coming from Motions with a total of 7 sections in- the government while a lack of nuance cluding 1 swing team vying for the gold from the opposition. bullion. The Economics Society touched What is the verdict then? A split decion topics such as social networking sites, sion of 4-1, 4 for the government leavthe euro, religion, human organs, and ing the opposition with only 1 point. finally, mama earth which was the last This decision provided confusion to deputy leader of opposition, Prince Jay motion tasked to the final contestants. First, they had a warm-up round in order Mayuyo, who was also awarded best to classify the different sections, followed speaker of the debate and even other by the quarter-finals with 4 sets of duel- members of the house because of the speculation on the oppositions strength ing teams. These sets were composed of which clamored for an explanation from 3E1 vs. 4E1, 4E3 vs. 3E4, 3E2 vs. 4E5, the judicators. The judicators justified with and lastly 3E3 vs. a swing team. Now you might be wondering who played the statements such as everything the opswing teams role. Yes, they are the sen- position said was in line with the moior board officers of the Economics Soci- tion when in fact, they have to be against the ety, neverthemotion, it less, 3E3 failed was full of to flinch as substance proved by their with lack of victory in this nuance to the round. Along motion, with 3E3, the and the sections 4E1, opposition 3E4, and 4E5, should have all who were focused on from the oppodevelopment sition side exjust as how cept 3E3, the governemerged triumWinners of the inter-class debate competition ment focused phant with realong with UST alumni Franz Bacani, one of on the envispect to this the judicators Photo by Gerbert Rubio ronment. division. James AnMoving on, the semi-finals dwelt on 2 sets of battling groups namely drew Obejas, one of the judicators, even 4E1 vs. 3E4 and 4E5 vs. 3E3 tackling expressed that it was as if nag-shoot motions related to human life. As a result, ang Adamson (referring to the opposiboth 4E1 and 3E3 were able to seize the tion) sa ring ng UST (referring to the upper hand and thus, they were able to government). Overall, it was a pretty thrillreach the end of the ladder. As previing debate, with some bets on 3E3 and ously mentioned, they were tasked to expound on the motion concerning some on 4E1, with 4E1 not apprehendmother earth, specifically Development ing the win as confirmed by prime minister Patricia Sanchez, this is my first trumps the environment. The debate started with 4E1 as time to compete, and I wasnt expecting the government and 3E3 the opposition. at all, we just gave our best and tried to Nuance against substance, this is the cen- win. Well, in the words of Vince tral issue, with 4E1 focusing on the nu- Lombardi winning is not everything, ance while 3E3 gaining all the substance but wanting to is and with this, I rest

Last July 25, 2010, the Economics Soci-

Seeing Beauty through Environmental Consciousness: The Search for Mr. and Ms. Thomasian Economists October 22, 2010, the UST Economics Society conducted Mr. and Ms. Ideal Thomasian Economists: Seeing Beauty through environmental consciousness. As what the title suggests, the whole point of the event is environmental consciousness. Ms. Jezzeline Ferrer, together with her co-project head Mr. Paul June San Diego, believes that it is important to expose us, Economics students, to the current environmental issues at hand because as researchers and scholars, we play a significant role in informing and educating the society. At the very beginning of the event, contestants were asked to give their own insights regarding environment, where each one has done a great job in expressing their own. In every phrase given by the contestants, realization hits the audience. But since there was perfect competition between our gorgeous contestants deafening cheers were created inside the room. The cheering even grew louder when talent portion of the pageant starts. But like any other pageant, the best part will always be the Q&A portion. It is that time when audience quietly anticipates how their bets would answer or react to the question given to them. The Q&A portion was quite different from the past pageants since the contestants were asked to state their observation about the flashed picture on the screen, which portrays the current state of our environment. Afterwards, Mark Lorenz Sta.Maria and Lenard Paul Sumalde offered a song to the audience followed by awarding of certificate of appreciation to Mr. Rolando Vittorio Gatmaitan and Ms. Yvette Hernandez who acted as judges for the event. The most awaiting announcement of winners finally came. The second runnerup winners were Mr. Myles Anciento (3E4) and Ms. Sheena Pelimiano (4E3); first runner-ups were Mr. Jeroen de Leon (3E2) and Ms. Seong Jyeong Kim (3E2) and; Mr. and Ms. Thomasian Economists were Mr. Nicolo Barcelona (4E4) and Ms. Marah Paula Villanueva (4E4). Special Awardees were Mr. Jeroen de Leon (3E2) and Ms. Jeriline Garcia (3E3) for Peoples Choice... (Cont. Next page)

as affirmed by the government insisting on their claim directly related to the motion, negative issues about the environment rose in response to development while the opposition asserting that development is contingent upon the

We, economists are scarce,

therefore our relative price is HIGH. R. B. Paguta

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Mash-Up: East meets West: The Economics Society General Assembly

with their theme, Education; the class of 4E5 presented with the theme Bloated Seeing (Cont. from Prev. page) Bureaucracy; the class of 4E4 with the Award and; Mr. Miguel Zapanta (4E1) theme Technological Advancement. And and Ms. Seong Kyeong Kim (3E2) for last but definitely not the least, the class Best in Talent. Nicolo and Marah will be of 3E4 with the theme of Foreign Ex- the representative of the Economics Dechange. partment for Mr. and Ms. Commerce After the breathtaking perform- Personality 2010 Pageant. ances, while waiting for the announcements of winners, another ice-breaker, At the end of the day, the Mr. named Hephep! Hurray!, was conducted by the hosts. After that was a dance pres- and Ms. Ideal Thomasian Economists: entation of Senior Board of Officers Seeing Beauty through environmental with the surprise appearances of Mr. consciousness was successful. It preQuesada and Mr. Cabauatan. This sents Beauty not for our own vanity but drew loud cheers and claps from the instead it shows beauty with a purpose. Environmental issues are an urgent matcrowd. Moreover, the president of Eco- ter and everybody is expected to lend a nomics Society, Mr. Aldric Arriola hand and participate. If we truly want to talked about the advocacy, together save Mother Nature, now is the time. with the AVP presentation of the Ms. Jezzelene Ferrer said in an Senior Board; pledging of the stu- interview: I am thankful to everybody; dents led by Vice President for Ex- this wont be possible without the help of ternal Affairs, Ms. Jezzelene Ferrer. our fellow Senior and junior Board offiThe crowd sang together with the cers, and most especially to everybody host, Mark Sta. Maria and the who participated in this event. I hope that Introduction of Economic Societys players, EcoSocs VP for Treasury as his everybody put into mind that the environJPESs, and PhilCEs representatives. Photo by partner, Carmina Milla when they ment is already on a critical state and I April Maligayo offered a song Two is Better Than hope everybody would take their own One; followed by an AVP of Mr. and Ms. initiative. This is our fight. Indeed, this Mr. Francis Ian Quesada; followed by a Ideal Thomasian Economists (MMITE) is our fight. L.P. Sumalde game called Gayahin ang Video; showand Inquest finalists. The ing of last years Economics Societys awarding of Certificate of events; Introduction of Economic SociAppreciation to the judges etys players, JPESs, and PhilCEs came after, led by Mr. Arrepresentatives. Furthermore, the Gleeriola, and the Social Events conomics singers did a beautiful sample Director, Mr. Paul June San song entitled Seasons of Love. AfterDiego and Ms. Ferrer. wards, Ms. Gladys Pagdato, Mr. Louis The most awaited Asistio III and Ms. Diane Camille Corannouncement of winners has tez were introduced as the judges for finally come. Firstly, Special the presentations that will be done by Awards were given. 3E1 got the Economics students. The show the Best Teaser; 4E2 for Best started as the first batch of the performPoster; 4E5 for Best in Arts ers entered the stage. The class of 3E2 and Design; 4E1 for Best performed with the theme of Poverty; Actress; and 3E1 for Best followed by the presentation of 4E2 Actor. Came after was the with the theme of Unemployment; the announcement of the top Mr. and Ms. Thomasian Economists Mr. Nicolo Barcelona class of 4E1 showed the effects of Pathree performances; third place and Ms. Marah Villanueva Photo by Sherry Mae Dio triotism and Migration when used as was given to 3E1; second place theme; 3E1 having the theme Human came from 4E5; and the highest award Development, and the class of 4E3 was given to 4E1. carrying the theme Import and ExEconomics is an easy subject, port.During the break, an intermission The closing remark was given was given by the EcoScyphers to enerby Mr. San Diego and was followed by at which very few excel! gize the crowd, followed by a dance the prayer and the UST Hymn. number from the Junior Board trainees. J. M. Keynes Jhoanna Pontanos Then, the last batch of performers began as the class of 3E3 took the stage

The

event took place at the Medicine Auditorium last August 23, 2010. It was attended by students, professors and, alumni as well as other people who supported the said event. The program started with an entertaining short skit done by the two Junior Board trainees, Roberta Obispo, and Sheen Paysan; followed by the appearance of the Masters of Ceremony (MC), Mark Lorenz Sta. Maria and Ron Villacorta. Then, the opening remarks, done by

P AGE 8

V O LUME 1 , I SSUE 1

Quadricentennial Officers of College of Commerce Economics Society

Aldric B. Arriola
President

Jezzelene C. Ferrer
VP for External Affairs

Kristian Dean P. Mongis

VP for Internal Affairs

Jane Mariz S. Tagle

VP for Administrative Affairs

Ma. Carmina Aurora G. Milla Dave Jr. H. Diao

VP for Internal Audit

Mark Lorenz C. Sta. Maria

VP for Promotions and Communications

Maria Cecilia M. Castillo

VP for Treasury

Wits Circle Directress

Jan Erle T. Manalaysay

Ways and Means Director

Sonny E. Tongco Jason Kristopher T. Comia

Wits Circle Director Socio-Cultural Director

Paul D.L. San Diego

Social Events Director

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Michelle Pieffer G. Fenix

Powertalks Directress

Lhea L. Pereira
Powertalks Directress

Ma. Blessie Conception L. Dimatulac

Socio-Apostolate Directress

Gerard G. Dimalanta
SocioApostolate Director

Patricia Kay L. Sanchez

Promotions and Advertising Directress

Paul Oliver C. Sayco

Sports Director GARENA can save the Earth
By Genesa Rosales

Ma. Theresa B. Borra

PhilCes Directress
was able to use this famous word for their environmental awareness program called Green Advocacy to Raise Environment and Natural Awareness or GARENA. Each section in the Economics Department participated by making a video presentation that encourages people to take necessary actions to help our environment. Economics students gathered last July 31, 2010 at the Rizal Auditorium in St. Raymunds building to watch the products of their sweat. All of the video presentations showed creativity and inspiration. Each had different ways of showing how we could help improve our environments condition. Nonetheless, there were few whose presentations stood out. Among them were the videos of sections 3E1, 3E2, and 4E1.

Theodore Christian D. Residilla

JPES Director
The winning presentation was awarded to 4E1 last August 23, 2010 during the Economics Societys general assembly at the Medicine Auditorium.

Many

Shalom S. Makasiar
Equilibrium Directress

of our biggest problems are because of the obliteration of the environment. Too much heat, floods, water shortages, and unpredictable weather changes are only few of what we suffer because of environment exploitation. Now is the right time for us to start compensating for our abuse by reducing the damages that we have caused this planet. When we hear the word GARENA, the first thing that comes to our mind is a computer game that is known by almost all of us. Who would have known that GARENA will also help save our environment? The Economics Society

Moreover, everyones efforts paid-off since the program, including all of the video presentations created by each section, achieved its purpose. It made the students aware of what is happening to the environment and it also made them think of ways to be able to help. Not only that, they were able to share what they have learned in a creative way. Through GARENA, Economics students have not only gained knowledge from one another, but they have also helped save Mother Earth.

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Why Indonesia outperforms RP?

A summary of the issue by Eduardo Climaco Tadem from Philippine Daily Inquirer

Indonesia once faced a financial crisis with a hardest hit from 1997
to 1998 and, afterwards, fell into political and social turmoil and economic decline. Today, Indonesia has attained stability and prosperity that little would have imagined possible. This was the conclusion reached by scholars of Indonesian studies at a recent First Indonesia Forum held at the Kyoto University Center for Southeast Asian Studies. Japans most distinguished Indonesianist, Takashi Shiraishi, pointed out the three factors that led to Indonesias significant upturn: (1) a successful decentralization program (2) the containment of religious and ethnic conflicts at the local level Indonesians now look at politics as a way of achieving economic growth rather than as a vehicle for asserting ones ethnic or religious identity, and (3) a strong nationalist imprint traceable throughout the countrys history democracy and decentralization may have led to a fragmented local political scene but it has not jeopardized the sense of national identity or Indonesianess. Economist Kosuke Mizuno, on the other hand, notes the ability of the Indonesian economy to weather the worst effects of the 2008-2009 global economic meltdown by keeping a balanced financial and current accounts while increasing employment. Professor Mizuno views the Indonesian economic resiliency as offering an alternative model of development that contrasts with the East Asian experience of export-based authoritarianism. Instead, investments focused on expanding a domestic market to take advantage of high levels of consumption among the public. Rather than relying mainly on financial instruments tied with the global system, the country leaned on what Mizuno calls vernacular financial networks. Mizuno concludes that Indonesias strength lies in its balanced and open economy that relies heavily on a large domestic market, strong private consumption, vital family businesses and vernacular financial networks. In his keynote speech at the Kyoto University Forum, Professor Shiraishi made pointed references to the Philippine experience and contrasted this with the Indonesian case. What makes for the disparity between the two Southeast Asian neighbors? Philippine case

east Asian neighbors have been able to achieve. Its economy still lags behind the top regional performersSingapore, Malaysia and Thailandbut it appears, for the moment, to have its fundamentals figured out. Shiraishi expects Indonesias current upsurge to continue for the next 10 years. As for the Philippines, 24 years after the historic EDSA revolt, its political life remains spineless and its economy brittle. It remains to be seen whether current President Aquino, riding on the wave of a landslide electoral victory, can rectify the overindulgence of the Arroyo years, invigorate the economy, restore confidence in government, and steer the country and its people forward.
ID ECONOMIC: GDP at current prices (2009, in US$B) Per capita GDP (2009, in US$) Growth rate of GDP (2009) Inflation rate (2009) Unemployment rate (2005-2008) Unemployment (2010, World Factbook) Budget deficit as % of GDP Gross domestic investment as % of GDP Foreign investments inflow (2008-2009, US$B) HUMAN DEVELOPMENT: Poverty index (% living under $2/day) Birth rate (2005-2010, per 1,000 persons, UN) Income inequality (2009, UN; Gini, 0 = perfect equality) Life expectancy (2005-2010, UN) Infant mortality (2005-2010, UN) deaths/1,000 births Education index (1 = perfect education attainment) Literacy rate 53.8 18.7 34.3 70.7 26.6 0.83 92 57.4 25.8 44.5 71.7 23.1 0.88 93.4 546.4 2362 4.5 2.8 8.4 7.14 2.3 31 14.2 182.7 1750 1.1 4.4 7.4 8 3.9 14 3.5 PH

After the glory of its 1986 EDSA revolution that ended the Marcos dictatorship, the Philippines has been relieved from its suffering. In the long run, however, the country fell short on harOTHER: vesting benefit from its victory. A government decentralization Corruption index (2010, higher rank, less program succeeded only in worsening its political state as local 110TH 134TH corruption) government units became even more dependent on the central government for their internal revenue allotments. Tourist arrivals (2009, in million arrivals) 6.45 2.71 All these were evident during the nine years of Gloria Happy Planet index (Higher rank, more Macapagal-Arroyos unstable term. With her 2004 election flawed 16TH 14TH happy) by serious charges of a manipulated count, Arroyo had to fend off continuous challenges from both the political opposition and reThe 2009 statistical data graphically tells the story of how Indoneformist military officers. sia now outperforms the Philippines. Indonesias per capita GDP, at $2,362, was 35 percent In only 12 years, and despite bumps along the way, Indohigher than the Philippines per capita GDP of $1,750. Its GDP nesia has managed well the transition from centralized authoritarigrowth rate of 4.5 percent was four times higher than the Philipanism to a vibrant and stable democracy, a feat none of its Southpines measly 1.1 percent performance. (cont. on page 14)

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EDITORIAL
Reality Step-Back
Life is not always the Disney Land that youve been dreaming of

remember a time back in my good old freshmen days. Our professor once asked us if it will be possible for our planet to regain its condition before given only 50 years span of time. As expected, a lot of my blockmates took the verdict on answering YES. I sighed. I did not want to kill their false hopes, but reality -check lang ha? 50 years is NOT enough. The damage that we did for more than a century cannot be undone with five decades span. Its not that Im pessimistic about the idea on saving the planet but we need to look at the status quo. There may be existing programs that cater the environment but, still, a lot of people have never involved themselves. Educational institutions have already been teaching the role of the students as a steward of the planet and keep on instilling them the hazards of the effect of global warming but they still havent learned, even if they do, they never walk the talk. We dont need to go far to cite an example cause right here, in our college, we might have some people that I am referring to. Ask yourself if youre one of them. My day never end without seeing someone throwing his waste right on the streets. Every day, as I traverse my way from home to school (and vice versa), I see people of different ages and gender, doing the act of littering. Just throw up here and there, and it never fails. What a shame. This led me to my conclusion that we will never be able to achieve the so called Green Earth if with this simple acts of ours will always belong to the record of epic failure. We keep on saying that we can have a nice place to live, but I beg to disagree. Unless we learn, and practice what we have learned, then only we can attain that Disney Land of ours. The planet has already taken its toll on us. We must learn from it because we need to face the reality that our world is in the brink of destruction. Jason Comia

Ex-policeman puts Pressure to HK-RP Linkages

Manila Philippines was watched live on global television during the
August 23 hostage crisis. The ex-police Senior Inspector Ronaldo Mendoza, armed with an M-16, hijacked a tourist bus carrying 21 Hong Kong nationals and 4 Filipinos. The 12-hours ordeal ended with Mendoza shot dead by a sniper and had left eight tourists dead. More than the hostage taker himself, the government of the two countries, the media people, and the citizens bombard networking sites and blog sites of who is to blame for the turn out of the incident. No consensus decision has been patched up. The event could have strained the nations relationship with the Hong Kong government and its people. The act of one outrageous man put a threat to the struggling economy of our nation. Series of economic implications can be derived from the standoff. 1) HK is the third largest employer of RPs land-based overseas Filipino workers as of 2009. The tension between the two countries might decrease job orders by HK employers for Filipino workers (i.e. withdrawal or cancelling of contracts of domestic workers). When this happens, temporary unemployment and low revenues for the country will arise. Consequently, there will be a severe poverty and surge crimes rates. 2) The ill tactics and rescue operation of the policemen and the Special Forces puts the country to the list of dangerous places for tourists. The threat of terror and chaos will discourage foreigners to visit the country and will result to a decline in the revenue for the countrys tourism industry. This will later result to the shutting down of firms and laying off of workers. Again, unemployment and poverty subsists. And, 3) the perception of incompetent security will displease investors to establish investments and launch business endeavours in the country. This means forgone work opportunities for the unemployed and for-

gone revenues. Above all, the pursuit of a self-interested man will literally cause serious predicaments, if revenge and hatred will prevail. It is heartbreaking that some works hard to face-lift our nation, while some selfishly razed all the efforts down to the ground. No wonder why RP was far left behind by its neighbouring countries. God bless, The Philippines! Kristine Distor

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Reduce (cont. from page 5)

Technical Vocational Education and Training 2004 2005 2006 2007 2008 The number of persons trained on technical vocational skills steadily increased and went beyond the target from 2005 to 2007, but dropped by 44.4 percent in 2008 The target number of training regulations developed and promulgated has been met since 2005 but posted a big drop in 2008, which is still beyond the target. Certification rate on an increasing trend and target already achieved, except in 2005. Number of TVET programs registered far above the target during the plan period. Higher budget allocated to TVET continuously increasing thru the plan period. The target number of available PESFA slots was met only in 2005, but remained below the target in succeeding years despite the big jump in 2008. less than the target in the succeeding years.

1 million persons trained annually

840K

1,154K

1,341K

1,702K

946K

29 training regulations developed and promulgated by 2005

15

36

55

60

37

At least 50% certification rate annually 1,000 TVET programs registered annually At least P50M additional funding for TVET budget annually 13,800 PESFA slots for 2005 and 34,500 PESA slots per year from 2006 to 2010

50.5

48.4

62.4

73.5

78.1

2,882 1,738 Million

1,944 1,777Mi llion

3,395 2.338M illion

4,893 2,334 Million 3,295 Million

13,796

13,944

13,869

16,158

28,488

Higher Education 42,600 scholarships in priority courses annually Proportion of HEI faculty with Master's degree will increase from 30.0% in AY 2004-2005 to 60.0% by AY 2010-2011 Proportion of HEI faculty with Doctorate degree will increase from 9.0% in AY 2004-2005 to 18.0% by AY 2010-2011

AY 04-05 34,530

AY 05-06 33,466

AY 06-07 58,547

AY 07-08 54,188

AY 08-09 72,729 Scholarships provided in higher education met targets in the last three academic years. Proportion of faculty with Master's degree has been consistently at 35% and far below achieving the 2010-11 target Proportion of faculty with doctorate degrees remained almost unchanged at 10% and almost 8 points short of target for 2010-11

30.6%

35.7%

35.6%

35,7%

35%

9.2%

10.7%

10.9%

10.9%

10.0%

Source: Basic Education DepEd; Technical Vocational Education and Training TESDA; Higher Education CHED

The target percentage of Net enrolment ratio (percentage of students enrolled in a year) for elementary and secondary level was far beyond the reach of the actual percentage caused by a little number of enrollees for the said years. Nonetheless, the Cohort survival rate (the effectiveness of an institution that will make the student last another year of schooling) exceeds the target rate that resulted from the good performance of the students. Another reason why the students prefer to stay in school was the implemented project of the past president, such as the daily ration of 1kg rice for poor pre-school and Grade 1 pupils for 120 school days. However, the Dropout rate (percentage of students that flank out during the School Year) of elementary students was not likely attainable, but attainable for the secondary level. The Dropout rate of the secondary level was less than the targeted rate since more of the secondary students

can afford the increase in tuition fee. Classroom shortage, caused by the continuing increase in student population and destruction made by natural and man-made calamities, resulted to a decline in studentclassroom rate. More classrooms were built, maintained a 1:1 textbook, and at least 1:50 teacher-student ratio. The ratio may be higher in some remote areas due to high population density and teachers preference to be stationed in urban centers and safer places.

creased because employers still prefer to have a degree holder employee. Private Education Student Financial Assistance (PESFA) increases as more of the students perform better as anyone else. Nevertheless, the rate of increase decreased since several student prefer to stop or avail other program.

Scholarships for Higher Education increased since more of the students avail this program to attain higher level of employment. However, less of the faculty The number of students that took members study for Masters degree and up Technical Vocation Education and Train- Doctorate since it is costly and some of the ing (TVET) has increased since it provides teachers have families to feed. immediate employment even though the pay 6 out of 19 targets did not meet the set obis lower than those who finished college. jectives. However, the gaps between the More and more of students receive the cerfigures are becoming smaller and smaller tificate of competency (proof that the that it may result to the attainment of the worker is a job-ready skilled worker). How- targets by the end of 2010. ever, enrollment for TVET slightly deShalom Makasiar

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FEATURED: Subjects & Motions: How Maam Karen Sees It!

People in the field of Economics are often type-casted as boring people with dead social lives. Strong words such as weird, bizarre, and eccentric are frequently used to describe them. Thats when stereotypes go wrong. Because in the UST College of Commerce, Economics professors are anything but boring people with dead social lives. tion is greater than the earths power to produce subsistence for man. Because of As proof, I asked Maam Karen Grace Valdez to answer some him; popularandom questions to erase the labels. And the interview starts tion became a topic of seri*** ous academic 1. What would you be doing if you werent teaching economics study. in UST? I refuse to be an accomplice to corruption, and I cannot imagine Malthus talks myself being a corporate slave all my life contributing to the about moderation and the natural mechanism that address human wealth of the capitalists. I would want to do something that is more superfluity. That is my guiding principle. That anything done in significant. There is a constant drive in me to be someone who can excess is bad, tangible and intangible. Vices and love. One is remake a difference in this chaotic world we all live in. Given a sponsible for his excess; he must suffer the consequences of his chance, Ill probably work in the United Nations or be a social actions. worker. Or if I have the money, Ill probably own a school and a bahayampunan for the street children. I refuse to be an 7. Did it cross your mind to model in the womens plus size fashion industry? accomplice to 2. Have you ever stolen anything? corruption, and I No. Never. But I dreamt of owning a womens plus size Time. Once in my life, I was able to steal time. cannot imagine store, and be one of its designers too. *smiles* Dont ask me how. Dont ask me why. *smiles* myself being a 8. Do you think there is a deadweight loss when it corporate slave comes to loving? 3. If you were stranded in an island but miraculously it had a fridge, what one food would you all my life Is that Hicksian or Marshallian deadweight loss? Anywish was in it? way, if youre talking about a welfare loss that nobody I would say isaw ni manong sa P. Noval. Kaya lang, hindi na ma- else gains, well I say yes, there could be a deadweight loss in lovsarap yun pagnilagay sa fridge. So maybe New York Cheesecake ing. I say COULD!!! Not absolute. Sometimes people love comor Mint Chocolate gelato from Amici, or an unlimited supply of plexities, and some people love each other even if they are both in clair from Tinapayan, or a gallon of coffee crumble ice cream, or the losing end. Its not a perfect world. a box of brownies from Beckys, or a box of cake from Banapple, or bukopandan from Nathaniels, or any dark chocolate with mint. 9. What would you be doing if your vital statistics is 36-24-36? Sorry ang dami kong naisip. *smiles* You'll probably see me on a billboard along EDSA, in a flimsy two One nga lang pala *laughs*. On second thought, if I was stranded piece. *laughs out loud* Kidding aside, Id still be doing the same and having a foul mood, then maybe Id rather have a case of Gil- things. And probably eat more frequent than usual. I love food. :) beys premium. 10. Do you believe your time here on earth has been a success? 4. Who is your biggest Econ-prof crush? I had my fair share of ups and downs. There are good days. There To be honest, WALA! For me, Economics professors (local and are bad days. I kept things I can keep and endured fleeting things international) seem to have that certain peculiarity and eccentricity that come and go. I can say Ive built lifelong friendships with that is very interesting, but never in a romantic sense. *laughs* good people, shared smiles to sad souls and lent my shoulder to troubled ones. Ive seen beautiful places and appreciated the not-so -beautiful ones. Ive climbed a mountain, rolled on the shore, float 5. What is your best childhood memory? on the sea and let the waves take me. Ive laughed hard and cried When I won in an open belt national judo competition. I was a hard. This is success for menot money, not power, not wealth, rookie then, wearing a white belt and I won the gold over a brown but living, loving and learning. belter. Grabe yungfeeling. Adrenaline. That time, my heart danced a different tune, a different beat. *** Thats how Maam Karen sees it! All throughout the interview, Maam Karens bubbly personality stayed. There was never a dull moment and obviously no trace of boredom and weirdness. Do you 6. Do you idolize economists? Who and why? still think that people in the field of Economics are boring? Guess Malthus. He has pink hair, and an Aquarian. And like any other not! Salvador Calo economists, he is eccentric. He believes that the power of popula-

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Youth Employment Challenges in the Philippines

During
the Commerce week last September 22, the Economics Department invited Mr. Alvin P. Ang, Ph.D of the UST Thomas Aquinas Research Center to give a seminar entitled Youth Employment Challenges in the Philippines at the TARC Auditorium. Amidst the hard rain and strong wind, Economics students, especially PM sections, managed to attend the seminar that started around 2 oclock in the afternoon. Mr. Ang discussed the situation of education and child employment in the Philippines by presenting statistics from the BLES Integrated Survey BITS 20072008. According to the data, out of 100 grade one pupils, only 66 finished grade six, only 58 of 66 of those graduates continued to first year high school, and only 43 finished high school. Of the 43 who finished high school, only 23 enrolled in college and only 14 out of 23 graduated from college. On the other hand, 35% and up of high school graduates became unemployed. Meanwhile, Only 20% of GDP comes from agricultural sector but it is the largest sector in terms of employment. 4.4% is the growth rate of GDP while 1.6% is the growth rate of jobs, therefore, improvement in GDP didnt create jobs. With high labor supply and low labor demand, workers were forced to leave the country and work abroad. Mr Ang concluded that there should be a strong linkage between the academe and industry; the mismatch in supply and labor demand is worsening; and the government is creating a subsistent employment but not a sustainable employment. With this fact imparted to us, it is a challenge for us to be better in class because we are lucky for having the opportunity of studying. Kristine April Vergara

DepEd Eyes Textbook-Free Education

A Summary Report from September 27, 2010 issue of Manila Bulletin By MARIO B. CASAYURAN

In a hearing by a Senate finance sub-committee chaired by Sen. Edgardo J. Angara, DepEd Secretary Armin F. Luistro said he recently met with the United States Agency for International Development (USAID) officials on this issue where they (USAID officials) agreed to finance a study on a possible textbook-free Philippine education setting. Luistro said DepEd Undersecretary Francis Varela would sit down with the UISAID to map out strategies in implementing the textbook-free education system. He hinted that this system might begin in the next two years as the DepEd budget has a substantial IT budget. Before Luisto revealed the DepEd-USAID meeting on a textbook-free education, Angara mentioned a possible shift from textbooks to a computerbased education after DepEd officials told Angara that their textbook budget for next year is P3.65 billion. Angara pushed for this radical shift in education as the cost of computers in the international market is decreasing with price tags ranging from $100 per computer in the US to $37 per computer in India. The former Senate president said that the modernization of Philippine education requires a powerful political will as it takes time to repair the damaged or deteriorating education standards and facilities. The current DepEd budget of P170.74 billion has been increased to P207.05 billion for 2011 or an increase of 18 percent. The proposed 2011 DepEd budget summary stated that the Ulat ng Bayan survey conducted in Feb. 2009 labeled DepEd as the least corrupt government agency, the highest public approval rating. As of December 2009 5,296 out of the 6,650 high schools are already provided with computer laboratories. The DepEd has also started its goal of promoting ICT in the elementary level with 2,534 elementary schools are targeted to be given multi-media equipment. Moreover, curriculum enhancement through ICT is being highly promoted by the department to give students a good place in the world of technology, in partnership with different stakeholders from the private sector and non-government organizations, the summary stated. Hazel de Guzman

Why (cont. from page 10)

pines had to make do with only $3.5 billion.

Inflation was kept at a low 2.8 percent while the PhilWhile the UNDP human development index for 2009 shows the Philippines with a higher ranking of 105th to Indoneippines struggled with a 4.4-percent rate. From 2005 to 2008, Indonesia had a higher unemploy- sias 111th, the more important indicators show the latter to be ment rate (8.4 percent against 7.4 percent) but by mid-2010, ahead. Poverty rates in Indonesia are lower53.8 percent of Indonesia had improved with a 7.14 percent rate while the Phil- Indonesians living under $2 a day compared with the Philippines ratio of 57.4 percent. Indonesia also has a lower birth rate ippines fell behind with 8.0 percent. of 18.7 per 1,000 persons compared with the Philippines 25.8 As a percentage of GDP, Indonesias budget deficit of percent. 2.3 percent was more manageable than the Philippines 3.9 percent. The strength of Indonesias economy was shown by a The biggest surprise was a Transparency International assessgross domestic investment inflow that was 31 percent of GDP ment of Indonesia as being less corrupt than the Philippines. For while the Philippines turned in an anemic 14 percent. Despite whatever it is worth, the Happy Planet index also ranks the InIndonesias inward-looking policy, foreign investments poured donesian people as happier than Filipinos. $14 billion into its economy for 2008-2009 while the PhilipKristine April Vergara

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Economists as Writers
THE TWO SIDES OF THE COIN Kristine Distor

Background by Teffanie Quibod

I am an Economist and I am a writer as well. A good economist must be a good writer, for an economist speaks of facts and of theories prevalent in our surroundings. I am an economist, my tools are my graphs. I am a writer, I make use of letters. Graphs are like poetry, they speak of hundreds or probably thousands of words. The quadrants are my margins and the lines and curves make up the story. Graphs for an economist are more than just graphs; they are stories and works of art. Graphs can tell you the story of the household's demand for children or the likelihood to have more of work or more of leisure. I bet it takes intelligence to figure that out. We, economists, are taught to be au fait with the use of these lines and curves; to always assume and to realize the meanings implicit with every shifts and rotations. That we may no longer see the lines and curves written by our pens but that these may become our letters, our words and our story.

A PHILIPPINE STATE OF MIND John Martin Villarama

A Philippine state of mind, A person's right to unwind On what everyone would like to find. When it rains, it pours. Just like the dengue outbreak, Everyone shouldn't ignore. With deaths at a high rate, Expect more cases to increase in rate. With the recent Hostage crisis, Media, police, officials and everyone should know, That they lacked in analysis. It's never too late to make up, For next time, any failure or mistake Could lead to any break up. MRT subsidies are a hot topic, Think about people as critic For they are elastic - any price increase, Expect them to prefer other, And consider that automatic. Better education and Health bill in the works, People should consider the perks For People's standard of living is in jeopardy, Just so you know, Philippine's future is still a mystery. And in this Philippine state of mind, No one can't afford to be blind For no one should be left behind.

Life is a Lesson Jeriline Garcia

This is my life. Sometimes its like a knife. Always ready to fight, Fight for the things that are right. My life is a circle, Never knowing where to settle. I can either be up or down, But the latter will make me frown. My life is a question. Always in confusion. Where to go? Or simply go with the flow. My life is a wheel. Never knowing what to feel. Always torn between joy and grief, Indeed my life is in stiff My life is a doorway. People come and go every day. But my life is a choice. So out goes my voice: whose hand to hold?; whose hand to set free? Thus, my life is a lesson With its own version. It teaches in a mysterious way, But is always worth the pay.

Those who are willing to wait are the ones

who will succeed. Delayed Gratification; G. Villasis

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HUWEBES Jason Comia

Natupad ang kahilingang tayoy minsan magkasabay. Isang pagkakataong aking inasam na tunay. Sa aking diwa, pagkakataong di na dapat mawala. Ang hinihintay na sandali huwag na sana tumila. Ang oras ng pag-amin, ng isang itinatagong damdamin. Mga salitang di masabi ng harapan, sa hangin na lamang ba idaraan? Sa yugto ng pagkakataon, aking sasambitin. Makapiling ka lamang, laman ng panalangin. Kung sakaling maunahan man ng kaba, isipin sa sarili, ito na lamang ang pag-asa. At kung sa aking pagkabigo, tanging dalangin ko na lamang, maipagpalit ang kinabukasan sa isang kahapong nagdaan.

Inspiration by Gerbert Rubio

SAMPID SA PANAGINIP Dave H. Diao Jr.

Sampid sa panaginip, di taga rito Gising dito tulog naman doon Bihag ko ang sarili Habang akoy malaya Sampid sa panaginip, Isinulat na eksena Aking realidad panandalian Perpekto ang lahat! Ang mundo, mga karakter, ang pagkakasulat Sampid sa panaginip, di rin magtatagal Buhay na nilikha hahantong sa wakas Andyan na ang magpapalayas Sampid sa panaginip, pinalayas ako Nang Lumiwanag ang dilim Nang Uminit na ang lamig Tulog na ako roon gising naman dito

EQUILIBRIUM EDITORIAL STAFF

Jeriline Garcia Shaira Manliclic Teffanie Quibod Genesa Rosales Writers Teffanie Quibod Gerbert Rubio Artist & Photographer Lenard Sumalde John Villarama Contributors