Honey Lou P.

Silorio
BS CHE IV ES 92
ENGINEERING ECONOMY, ENGINEERING MANAGEMENT
WRITTEN REPORT
FEBRUARY 27, 2013

A. SCIENCE, ENGINEERING, ECONOMICS/MANAGEMENT

a. SCIENCE
Science is a knowledge covering general truths of the operation of
general laws, especially as obtained through scientific method, concerned
with the physical world. It is nothing but trained and organized common
sense. It is therefore a product of observation, experience and mans innate
rationality. Generally, the purpose of science is to produce useful models of
reality. It encompasses the explanations of nature or physical phenomena
presented as theories and laws which the society accepted. Though, these
theories are empirical and are always open to falsification if new evidence is
presented.
Number of words: 91
References:
Websters New Collegiate Dictionary

T. H. Huxley. Biogenesis and Abiogenesis. 1870
Sciencemadesimple.com

b. ENGINEERING

Engineering is an application of scientific principles to design or develop
machines, processes, structures and other innovations to serve its certain
functions with limits of safety to life, property and environment. It is based
principally on physics, chemistry, and mathematics. It is the frontier for
technological advancements; creating new avenues in industries and to the
society as well, which sprang not only from imagination, knowledge and skills
but also form common sense. It can encompass insights which are aimed to
scale, plan or conceive solutions to problems or objectives at hand.

Number of words: 91
References:
Concise Encyclopedia of Engineering. McGraw Hill.

Petroski, Henry. Invention by Design: How Engineers Get from
Thought to Thing. Harvard University Press, September 1, 1998.

c. ECONOMICS/MANAGEMENT

Economics is concerned with how people get the goods and services
they need and want. It also focuses on money - how it is made, lost, used and
misused. It is a study on how resources can best be distributed to meet the
needs of the greatest number of people. Management as a discipline, on the
other hand, focuses on a particular part of the economic environment; the
issues arising in the operation of business and non profit organizations in the
economy. It can also be defined as organization and coordination of
activities of a business to achieve certain goals.

Number of words: 100
References:
Handerson, D. R. Concise Encyclopedia of Economics. Liberty Fund
Edition, 2007.
http://www.morris.umn.edu/academics/economicsmanagement/
B. SOUTH KOREA VS NORTH KOREA
In terms of economy, North Korea experiences economic problems and mass
starvation, while South Koreas economy is slowly but surely rising. The market
economy of South Korea improved the overall economy of the country, and the
gross national product has been on the rise. In contrast, the economy of North
Korea has had many challenges, largely due to the self-reliant and closed
economic system that they use. Comparing their government administration, South
Korea is a presidential republic consisting of seventeen administrative divisions and
as such allows for the election of a president, while North Korea functions as a single-
party state under a totalitarian family dictatorship, described even as an absolute
monarchy with Kim Il-sung and his heirs. In North Korea, there are severe limits on
freedom of expression, and the government supervises the lives of the people
closely under the leadership of the Workers' Party of Korea, which is de facto the
only legally permitted party. In South Korea, the people generally experience more
freedom, encouraging the people to engage in sports, arts, etc., improving
educational system and supporting corporations and industries which led to vast
improvements in technology and economy as a whole.
Number of words: 194
References: Oberdorfer, Don, The Two Koreas.

Understanding the Differences between North and South Korean Cultures
by Jessica Ackerman.

http://en.wikipedia.org/wiki/South_Korea
http://en.wikipedia.org/wiki/Politics_of_North_Korea

C. THINKING DEVELOPMENT

Psychologists have studied human ways of thinking which resulted to the
dual process model of the brain. This includes two modes: system 1 and system
2. System 1 is fast, intuitive, automatic, impressionistic, and it can't be switched
off while System 2 is slow and deliberate; its operations require attention. The
latter is slothful, and tires easily so it usually accepts what System 1 tells it. If
endorsed by system 2, impressions and intuitions from system 1, with little or no
modification, turn into beliefs. System 1 is highly sensitive to subtle environmental
cues, signs of danger, and so on. It loves to simplify: what you see is all there is. It
is bad at the kind of statistical thinking often required for good decisions, it jumps
wildly to conclusions and it's subject to a fantastic suite of irrational biases and
interference effects. System 2 takes over when things get difficult. It supports
more detailed and specific processing that may solve the problem for the
moment. The general point about the size of our self-ignorance extends beyond
the details of Systems 1 and 2. We're astonishingly susceptible to being
influenced by features of our surroundings.

Number of words: 195
Reference:
Thinking Fast and Slow, Daniel Kahneman, Farrar, Straus and Giroux, 18
West 18
th
Street New York 10011, 2011

D. SIGNIFICANCE IN THE POPULATION INCREASES (1903-2000)

In the Philippines population growth was mirrored as a hindrance to foster
economic development. Rapid population growth affected available capital
being thinly spread among many workers, as well as in fiscal and environmental
externalities. Negative externalities are often associated with congestion,
environmental degradation and resource depletion. Fiscal externalities: the more
poor people, the higher the taxes that the non-poor must pay just to maintain
the quality of education, health services and infrastructure. It resulted to
insufficient annual food and non-food basic needs. These prompted small
communities to flee to other countries which reflected increase in overseas
workers.

Number of words: 97
References:
Population, Economy and Poverty by Ernesto M. Pernia, Ph.D.
Manila, February 24, 2005 (STAR) Star Science.

http://www.prb.org/Articles/2003/RapidPopulationGrowthCrowde
dCitiesPresentChallengesinthePhilippines.aspx