Language of Economics (LOE): Seminar for Journalists

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The Language of Economics (LOE) Seminar is designed to strengthen the capacity of media organizations and journalists in the Philippines to cover economic, political and social change, thereby enhancing government transparency and accountability. Designed for print and broadcast journalists who cover economics, development programs and business, the LOE Seminar combines work on key economic concepts with practical, journalistic exercises to meet the needs of participants.

The Language of Economics (LOE) seminar imparts a unique appreciation of the critical role journalists have to play as active participants in on-going efforts towards the country’s sustainable growth. As different areas have different needs, the seminar also targets the provincial affiliation and organizational needs of the participant. In some areas for instance, the greatest need would be for improving local management skills and the viability of news organizations, while in others, it maybe for alleviating poverty and unemployment in their locale. The LOE Seminar addresses these specific needs of participants to better understand how such pressing issues like the worsening political climate or legal environment of their respective provinces or cities can be best handled

Target Participants

The LOE seminar is exclusively for alumni of the Language of Business (LOB) Seminar. Intended participants are business/economic reporters, feature writers, investigative journalists, researchers, freelance writers, publishers, editors, media managers, broadcast anchors/hosts/producers, AIM staff, JBF Center alumni, social investors and partner institutions.

The participants should have basic computational skills and must be familiar with basic EXCEL® spreadsheets.

Course Objectives

The seminar will provide participants with many new thought-provoking perspectives and insights, allowing them to gain an appreciation of the challenges facing economic decision-makers today. It focuses on what the Journalists can learn from appreciating institutional factors that provide for solid economic analysis.

At the end of the seminar, the participants will:

Understand the concepts relevant to the most pressing economic issues of the time;
Report on current economic issues with depth and accuracy; and, Broadly appreciate events from the point of view of economists.

Course Topics

The following topics are as follows:

Topic Description
Review of Market Structure Broadly understand the economic basis of firms operating in perfect competition and various levels of market power
Review of Macroeconomics Broadly understand how fiscal and monetary policy interact to determine output levels
Monetary Policy: The International Financial System and the Interest Rate Game Understand the linkages of the international financial system; understand how governments influence interest rates, and why they do so
Fiscal Policy: Focus on Government as an Investor Identify the market failures that necessitate cross-public sectoral involvement (health, education)
Rationale for Government Regulation of Industries Identify the conditions under which government regulation of firms is warranted
When Good Intentions are Insufficient: The Role of Institutions Understand the role of institutions in transmitting resources to accomplish (or not accomplish) policy goals
Review of the Textbook Rationale for Free Trade Be familiar with the terms used in discussing trade; understand the theoretical advantages of free trade
WTO: Was Trade Overrated Understand the differences between the theory of trade and its actual practice
Modalities of International Assistance Understand the rationale for various modalities of intenational assistance
Does Growth Lead to Less Poverty? The Debate on Pro-poor Growth Be aware of the arguments and counter-arguments for pro-poor growth.

Duration

The LOE Seminar will be held from 8am to 12nn for 2 weeks. The seminar comprises ten four-hour sessions designed to cover many of the fundamental issues in economics in relation to business today. Other arrangements can be made with prior notice.

Schedule: 1st Week

Time Monday Tuesday Wednesday Thursday Friday
8:00 - 9:20 Review of Market Structure Review of Macroeconomics Monetary Policy: The International Financial System and the Interest Rate Game Fiscal Policy: Focus on Government as an Investor Rationale for government regualtion of industries
9:20 - 9:35 BREAK
9:35 - 10:20 Case: Learning Teams
10:20 - 11:20 Case Discussion
11:20 - 12:20 Individual Exercise and Discussion

Schedule: 2nd Week

Time Monday Tuesday Wednesday Thursday Friday
8:00 - 9:20 When Good Intentions are Insufficient: The Role of Institutions Review if the Textbook Rationale for Free Trade WTO: Was Trade Overrated? Modalities of International Assistance Does Growth Lead to Less Poverty? The Debate on Pro-poor Growth
9:20 - 9:35 BREAK
9:35 - 10:20 Case: Learning Teams
10:20 - 11:20 Case Discussion
11:20 - 12:20 Individual Exercise and Discussion