The course provides an overview of the application of key economic principles and tools on national and local development. It starts by looking at the broad Philippine economy and assesses how the macroeconomy affects different economic actors. Then it proceeds to review how markets work at the micro level, their underlying assumptions and their role in economic growth and development. It also examines situations where markets fail, which warrant government intervention and specify the role of government in economic and social development. We will devote some time in examining the economic issues that underlie some of the political and social problems in the Philippines and a framework will be provided for student groups to choose their own issues that will be subject to economic analysis.