Economy is the wealth and resources of a country especially in terms of the production and consumption of goods and services. This is executed by individuals who are living in or out of a certain place. The study of economics can help the firms and households or the buyers and sellers in the society as they interact in the market. It can also help analyze inflation or the rapid increase in price. The Philippine economy is the thirty-ninth largest economy according to 2014 IMF statistics. It is currently one of Asia’s fastest growing country and has been named as the Tiger Club Economies. But nevertheless, there are still problems we can evade like inflation, unemployment, poverty, and corruption. This 2015, we are facing problems we need to attain. Inflation, which is the top concern of all social classes. We’ve been recently hit by el Nino which resulted in the upward pressure on inflation. Merchandise exports fell by 12.9% in US dollar terms in the first half and imports fell by 8.3%. The trade deficit widened but growth in remittances and services exports, mainly from business process outsourcing and tourism, kept the current account in surplus.
Yes, The Philippines is facing a lot right now but don’t you think it would be wise to give a little more attention to education for the youth since they will be the next generation to withstand our country’s economy and politicians? The youth is the hope of our nation as what Dr. Jose P. Rizal said. Education is the answer to some of our problems right now. It would benefit the people and our economy. Education is power. Completing your education teaches you how to be responsible and it teaches you how to use logic. For people that do not have a fortunate background, education is the greatest equalizer. The availability of education today is much more prevalent than in generations past, allowing individuals from lower socio-economic backgrounds to compete with the majority of job seekers. Being able to gain a degree they are on the same level as many others, and can rise from their present level, reducing inequality, both at an economic and a social level in a society. Therefore, Education could be the solution to some of our problems economically and politically.