...Polytechnic University of the Philippines College of Accountancy and Finance DEPARTMENT OF BANKING AND FINANCE Sta. Mesa, Manila ------------------------------------------------- COMPARATIVE ANALYSIS OF THE PERSONAL FINANCIAL MANAGEMENT PRACTICES OF SELECTED CALL CENTER AGENTS IN CITIGROUP BUSINESS PROCESS SOLUTIONS, MAKATI CITY ------------------------------------------------- In Partial Fulfillment of the Requirement in the Subject Methods of Research (FINA 3073) ------------------------------------------------- By ARTAGO, JEANNE L. BASIG, FRANZESSE CLYEDELLE E. GARCIA, JAMEE P. SERRANO, SHARMINE C. SOLIMAN, CERMI JANE V. BBF 4 – 10S October 2013 ------------------------------------------------- PROF. MELVIN JASON DE VERA ACKNOWLEDGEMENT In making this study possible, the researchers would like to give their deepest gratitude to the following people: Prof. Melvin Jason S. De Vera, research adviser, for his support and for patiently giving an advice in accomplishing this study; Prof. Bernadette M. Panibio, for approving this study; Mr. Randy C. Chang of Citigroup Business Process Solutions, for helping the researchers in conducting the survey; The parents and guardians of the researchers, for consistently giving moral and financial support, encouragement and inspiration; and Most of all, the Almighty God, for giving the strength, knowledge, wisdom and courage the researchers need in order to fulfill this study. THE RESEARCHERS ...
Words: 13426 - Pages: 54
...Saving and Investment Macroeconomics Assignment 1 Matthew Killeen 8173969 Professor: Octavian Strimbu Assignment - Saving and Interest Question: Many commentators, including high officials of the bank of Canada, have blamed the spending habits of the Canadian public for high interest rates. Are these commentators right? “It’s not your salary that makes you rich, it’s your spending habits.” - Charles A. Jaffe. Throughout the past 25 years, Canadians household savings rate have dropped severely resulting in the economy’s interest rates to rise in order to maintain stability. Many economists believe the increase in interest rates is due to the rise in consumer spending habits. In our current economy there is an evident relation between the diminishing house hold savings and the increase in interest rates in the Canadian public. When it comes to consumer spending and saving there is a clear trade-off, choosing to save now and consume more later, results in giving up current consumption. Many Canadians lose a good amount of their income due to enforced tax laws, causing them to spend instead of save. I agree with the the statement that the spending habits of Canadian Public is to be blamed because of high interest rates. The relationship between Canadians spending habits and high interest rates can be expressed through the supply and demand of loanable funds and the highly recognized Gross Domestic Product Equation. Since Canadian spending habits...
Words: 1107 - Pages: 5
...CHAPTER 9 Basic Macroeconomic Relationships A. Short-Answer, Essays, and Problems 1. Define the consumption and saving schedules. 2. Explain how consumption and saving are related to disposable income in the aggregate expenditures model. 3. Complete the following table assuming that (a) MPS = 1/5, (b) there is no government and all saving is personal saving. Level of output and income Consumption Saving $250 $260 $___ 275 ____ ___ 300 ____ ___ 325 ____ ___ 350 ____ ___ 375 ____ ___ 400 ____ ___ 4. Complete the following table assuming that (a) MPS = 1/3, (b) there is no government and all saving is personal saving. Level of output and income Consumption Saving $100 $120 $___ 130 ____ ___ 160 ____ ___ 190 ____ ___ 220 ____ ___ 250 ____ ___ 5. Differentiate between the average propensity to consume and the marginal propensity to consume. 6. What are the marginal propensity to consume (MPC) and marginal propensity to save (MPS)? How are the two concepts related? How are the two concepts related to the consumption and saving functions? 7. Suppose a family’s annual disposable income is $8,000 of which it saves $2,000. (a) What is their APC? (b) If their income rises to $10,000 and they plan to save $2,800, what are their MPS and MPC?...
Words: 5910 - Pages: 24
...OBJECTIVES 1. The factors that determine consumption expenditure and saving. 2. The factors that determine investment spending. 3. How equilibrium GDP is determined in a closed economy without a government sector. 4. What the multiplier is and its effects on changes in equilibrium GDP. 5. How adding international trade affects equilibrium output. 6. How adding the public sector affects equilibrium output. 7. The distinction between equilibrium versus full-employment GDP. I. Introduction A. This chapter focuses on the aggregate expenditures model. We use the definitions and facts from previous chapters to shift our study to the analysis of economic performance. The aggregate expenditures model is one tool in this analysis. Recall that “aggregate” means total. B. As explained in this chapter’s Last Word, the model originated with John Maynard Keynes (Pronounced Canes). II. Simplifying Assumptions for the Simple Model A. We assume a “closed economy” with no international trade. B. No Government. C. Although both households and businesses save, we assume here that all saving is personal. D. Depreciation and net foreign income are assumed to be zero for simplicity. E. There are two reminders concerning these assumptions. 1. They leave out two key components of aggregate demand (government spending and foreign trade), because they are largely affected by influences outside...
Words: 2519 - Pages: 11
...Mankiw, Macroeconomics 8e Chapter 3 1. The returns to scale in the production function Y = K0.5L0.5 are: A. decreasing. B. constant. C. increasing. D. subject to wide fluctuations. 2. If a production function has two inputs and exhibits constant returns to scale, then doubling both inputs will cause the output to: A. reduce by half. B. stay the same. C. double. D. quadruple. 3. If the supplies of capital and labor are fixed and technology is unchanging, then real output is: A. fixed. B. determined by demand. C. uncertain. D. subject to wide fluctuations. 4. If a production function has the property of diminishing marginal product, then doubling: A. all of the inputs will less than double the output. B. all of the inputs will double the output. C. all of the inputs will more than double the output. D. one of the inputs will reduce its marginal product. 5. Consider the following production table: Assuming that the production function displays constant returns to scale, what is the marginal product of labor when labor and capital are both equal to 1,000? A. 1 B. 5 C. 10 D. 20 6. Consider the following production table: By how much does the marginal product of labor decrease as labor input increases from 1 to 2 and from 2 to 3? A. 0 B. 1 C. 2 D. 3 7. Euler's theorem implies that if a production function exhibits constant returns to scale, then: A. economic profit is zero. ...
Words: 1264 - Pages: 6
...expensive, and it has increased each year without fail until recently. There are a few contributing factors to the health care spending growth; one is the number of individuals who are in need of health insurance and medical care, and the other is the technology changes. Technology is a continuous change, and this will always be a factor in health care spending. For the individuals who were uninsured and could not obtain insurance, they have now been given the opportunity because of the health care reform; those individuals can now enroll in affordable coverage through the health insurance exchange. By providing more individuals with access to health care coverage and reducing the cost of preventative care, the spending value should start to decline. The objective of the Affordable Care Act is to bring out the health care system inadequacies while decreasing the overall health care spending, the other was to increase the effectiveness and quality of patient care (the White House, 2013). Health Care Expenditures In 2013 statistics show that there was one more year of reducing growth in health care spending, the other years that were evident of a slow growth were 2011 and 2012. These years according to Furman & Fiedler (2014), "saw the slowest growth in real per capita health care spending on record” (Historically Slow Growth in Health Spending Continued in 2013, and Data Show Underlying Slow Cost Growth Is Continuing, para 1). The reduced growth we show in health care...
Words: 1435 - Pages: 6
...CHAPTER II- Review of Related Literature and Study This chapter shall briefly discuss the correlation of previous studies and articles that are similar to this research. The chapter contains the Conceptual Framework of the Study and the Research Paradigm utilized in this research. Thematic Approach of Discussion Budget, Savings, etc., what are the definitions of these terms? According to an article entitled “Financial Literacy to Everyone” at www.practicalmoneyskills.com, budgeting is plan for your future income and expenditures that you can use as a guideline for spending and saving. Budget came from the old French word “bougette” which means purse. It is practically, a plan and list of all planned expenses and revenue. It is a plan for borrowing, saving, and spending. So why Budget? An average student spends his allowance for books, student housing, tuition fee, and food. These are all expenses encountered not only by students but, in general, most of the people in the world. There are generally three types of expenses usually faced by students, the Academic, Living, and Personal Expenditures or Costs. Academic Costs are usually what eats up the total budget of students. It contains the different expenses that are required in able to carry out a student’s academic life. It varies from tuition fees until the very miniscule expenses utilized for photocopying hand-outs from your professor. Living Costs, on the other hand, are expenses that a student need for day to day...
Words: 1203 - Pages: 5
...are concerned about their children’s financial problems such as overspending and budget deficits.(1) According to the research of 00000, the adolescents’ knowledge of money management was decreased from 51% in 2007 to 35% in 2011.(8) I presume that budgeting can control income and expenses, therefore it would help the adolescents to achieve their financial goal. By having a good budget, adolescents can become aware of their financial situation and develop a spending plan to reach the financial goal in the future.(0) Hence, my topic is budgeting for the adolescents. Budgeting is a crucial financial tool, it is also a basis that can assist adolescents in reducing their financial problems.(2) Not only does budgeting help adolescents develop a spending plan and future goals, but it also leads them to acknowledge their income accurately, and develop advanced money management skills for their future planning.(2) 000000 research shows that high school students who had a personal financial education have higher rate of saving their income in comparison to students who didn’t undertake the program.(1) For most students, over 92%, acknowledged that having good money management can surely assist them in living a successful and financially stable life.(1) Task 2 In order to develop good budgeting, there are three factors to consider.( ) The first factor is income and expenses.( ) Identifying the monthly income and expenses are the first things to do in order to have an...
Words: 1181 - Pages: 5
...variable. The dependent variable is saving behavior. The independent variables are financial literacy, spending behavior and self-control. 2.1 Saving Behavior (Dependent Variable) Chandra and Long (2013) examined the determinants of saving in the process of economic development, in the...
Words: 1353 - Pages: 6
... | CONCEPT CHECK ANSWERS Concept Check 2-1 (p. 38) 1. What are the three major money management activities? The three major money management activities are (1) storing and maintaining financial records and documents, (2) creating personal financial statements, and (3) creating and implementing a budget. (p. 36) 2. What are the benefits of an organized system of financial records and documents? An organized system of financial records provides a basis for: (1) handling daily business activities, such as bill paying; (2) planning and measuring financial progress; (3) completing required tax reports; (4) making effective investment decisions; and (5) determining available resources for current and future spending. (pp. 36-37) 3. For each of the following records, check the column to indicate the length of time the item should be kept. “Short-time period refers” to less than five years. |Document |Short time period |Longer-time period | |Credit card statements |X | | |Mortgage documents | |X | |Receipts for furniture, clothing |X | | |Retirement account information | ...
Words: 1696 - Pages: 7
...The returns to scale in the production function Y = K0.5L0.5 are: constant If a production function has two inputs and exhibits constant returns to scale, then doubling both inputs will cause the output to: double If the supplies of capital and labor are fixed and technology is unchanging, then real output is: fixed If a production function has the property of diminishing marginal product, then doubling: one of the inputs will reduce its marginal product. Consider the following production table: Assuming that the production function displays constant returns to scale, what is the marginal product of labor when labor and capital are both equal to 1,000? 5 Consider the following production table: By how much does the marginal product of labor decrease as labor input increases from 1 to 2 and from 2 to 3? 1 Euler's theorem implies that if a production function exhibits constant returns to scale, then: economic profit is zero. If a firm with a constant returns to scale production function pays all factors their marginal products, then: economic profit is zero and accounting profit is positive. A competitive firm hires labor until the marginal product of labor equals the: real wage. A competitive firm rents capital until the marginal product of capital equals the: real rental price of capital. Suppose that a major natural disaster destroys a large part of a country's capital stock but miraculously does not cause anybody bodily harm. What will happen...
Words: 721 - Pages: 3
...thereby, production and employment, to offset the inherent instability. When aggregate demand is inadequate to ensure full employment, policymakers should boost government spending, cut taxes, and expand money supply. However, when aggregate demand is excessive, risking higher inflation, policymakers should cut government spending, raise taxes, and reduce the money supply. Such policy actions put macroeconomic theory to its best use by leading to a more stable economy, which benefits everyone. | Critics of active monetary and fiscal policy emphasize that policy affects the economy with a lag and that our ability to forecast future economic conditions is poor. As a result, attempts to stabilize the economy can end up destabilizing. It might be desirable if policymakers could eliminate all economic fluctuations, but that is not a realistic goal given the limits of macroeconomic knowledge and the inherent unpredictability of world events. Economic policymakers should refrain from intervening often with monetary and fiscal policy and be content if they do no harm. | 2. Whether or not the government should fight recessions with spending hikes rather than tax cuts | Advocates of increased government spending to fight recessions argue that because tax cuts may be saved rather than spent, direct government spending does more to increase aggregate demand, which is key to promoting production and employment. Monetary policy is the first line of defense against economic downturns. By...
Words: 1364 - Pages: 6
...intermediaries • What saving is and its uses • How the financial system channels funds from lenders to borrowers • The role of the Federal Reserve and its regulatory and monetary policy responsibilities Lectures Notes I. Economic and financial analysis of an ever-changing system A. Economics is about how society decides what gets produced, how it gets produced and who gets what. B. Microeconomics studies about individual decision making units. Macroeconomics deals with aggregate or total behavior of all households and firms. C. Finance is about how the financial system coordinates the flow of funds from lenders to borrowers and how new funds are created by financial intermediaries in the borrowing process. D. Historically, the financial system has been highly regulated since a smooth functioning, efficient financial system is vital to a healthy economy. C. In recent years, the financial system has been changing due to new ways to raise and use money through financial intermediation, increased globalization, and deregulation. II. Finance in our daily lives A. Money is something generally acceptable and generally used to make payments. Saving is income not spent on consumption. Both households and firms save. Since businesses do not spend on consumption, all of business income except that distributed as dividends is saving. Household saving is income not spent on consumption. Part of saving is used for investment...
Words: 831 - Pages: 4
...was on obsolete relic. Monetary policy seemed wholly capable of taming the business cycle. Government efforts to increase spending or cut taxes to battle unemployment would only much things up. When crisis struck in 2008, however, that consensus evaporated. the frightening speed of the economic collapse spurred governments to action, in spite of economists’ doctrinal misgivings. In 2009 many countries rolled out big packages of tax cuts and extra spending in the hope of buoying growth. This stimulus amounted to 2% of GDP on average among the members of the G20 club of big economies. Among Barack Obama’s first step as president in 2009 was to sign the American Recovery and Reinvestment Act, a stimulus plan worth $831 biliion, or almost 6% of that year’s GDP, most of it to be spent over the next three years. Keynes to the rescue Supporters of stimulus looked to the ideas of John Maynard Kaynes, a British economist. Depression, his acolytes reasoned, occurs when there is too much saving. When too many people want to save and too few to invest, then resources (including workers) fall idle. Firms and families might save too much because of financial uncertainly or because they are rushing to deleverage to reduce the ratio of their debts to their assets. In normal times central banks would try to spur growth by adjusting interest rates to discourage saving and encourage borrowing. Yet by early 2009 most central banks had reduced their main interest rates almost to zero, without...
Words: 1964 - Pages: 8
... | |Economists long have shown that when it comes to consuming lifetime economic resources, households seek to neither splurge nor hoard, but | |rather to achieve a smooth living standard over time. Consumption smoothing not only underlies the economics approach to spending and | |saving, it is central to the field’s analysis of insurance decisions and portfolio choice. | |Smoothing a household's living standard requires using a sophisticated mathematical technique called dynamic programming to solve a number | |of difficult and interconnected problems. Advances in dynamic programming coupled with today's computers are permitting economists to move | |from describing financial problems to prescribing financial solutions. | |Conventional planning’s targeted liability approach has some surface similarities to consumption smoothing. But the method used to find | |retirement- and survivor-spending targets is virtually guaranteed to disrupt, rather than smooth, a household’s living standard as it ages.| |Moreover, even very small targeting mistakes will suffice to produce major consumption disruption for the simple reason that the wrong | |targets are being set for all years of retirement and potential survivorship. ...
Words: 6625 - Pages: 27