University of Pangasinan Phinma Education

Monetary Policy:

Public Information Dissemination

By : Karisa TamayoEzequel Quinto

Khrezel LazaHanna Marie Ignacio

Submitted to:

Richard Caspillan

Introduction

The monetary Policy, a function of Bangko Sentral ng Pilipinas (BSP), rules or actions standardized for a certain goal to implement. That goal is to regulate the money in the economy. Have you ever wondered, does the public know about any of these cordial policies which supervise the money in the Philippines? Well some may not, and some may know.

Let’s start with the question Where? Calasiao is known for its tasty Puto. It is a booming town near Dagupan City, which a lucrative market for any business. Why Calasiao? We choose this location to disseminate information about monetary policy for its economy is rising, the fact that not all people are aware to these cordial policy it may affect the market due to the fault in circulation of money, denominations that are being mutilated nor unfit are continuously circulating in the market. Now we come to the next question which is how? How can we disseminate this information as a student? So, we came up with this idea, conducting an experiment to four types of people namely; Business owner, Tricycle driver, Vendor and Household.

So let’s find out on how far the knowledge of these people about monetary policy and who among them is leading and behind in awareness of these policy.

Significances of the Policy to the People

Awareness, we are going home to many who can’t read, so let them know it. Contrary to popular opinion, it takes more than just a flashy education and a few worn-out catch phrases to be a truly knowledgeable about this function. In order to give significance to the public, we may first discuss the basics. What are the basics? Do they know the history of money?

The history of money concerns the development of means of carrying out transactions involving physical medium of exchange. Money is any clearly identifiable object of value that generally accepted as payment for goods and services and repayment of debts within a market or which is legal tender within a country.

If I am given a chance to ask my fellow classmates with this question, would they tell me the right answers? Of course yes. Technically speaking, these are the things we are studying, but what if, I asked the public? We have four personalities, the utility driver being busy driving all ay optimistically or often frustrated The business owner of a sari-sari store which takes him/her to walk and talk everyday all day long to earn immense profit, even they are looking horrific because of losses, the market vendor’s hostility on shouting that his products are less costly than his competitor, the Housewife’s marvelous endeavor on doing his chores.

These people may be very busy just do give the best for their family, would they give a skimpy time just to know what are those things about money.

We can see their responses in the following studies and a bit of experiment, watch the movie presentation.

Conclusion

We had seen the four individuals that undergo the experiment. We tried to pay, give and even tried to trade with them our mutilated money and some personally valued belongings like watch, cell phone, and jewelries. Now we can determined who among them has dominated in terms of knowledge about monetary policy.

Let’s begin with the Puto Vendor during the experiment she refuses to accept the money and some personal belongings because she only accepts money that she can use on another transactions and according to the interview she was aware about the existence of BSP but, not about the said policy, the Clean note Policy, because she had seen it on television specifically the news section. The Tricycle Driver, he did not also accept the money and personal things, when we asked him why, he said, “The value of that is too much and I only accept money as your fare.” With the interview and dissemination of information he quoted,

“I know ma’am, the gasoline station, they accept these kinds of money”. The 3rd individual was a Canteen owner, she did not accept the payment but she’s giving the goods being purchased in exchange of nothing and in the interview she said she has no idea about the policy. Lastly the Household who was asked if she accepts mutilated and unfit denominations she said she does not accept it since she was aware of the policy due to the watching of news and the fact that she’s always at her house watching TV with her kids.

We conclude that the Household dominated the knowledge and awareness of monetary policy because before the dissemination of information, she imparted what she knows about the BSP that they accept unfit denominations for deposits. Next to it was the tricycle driver, puto vendor and the individual with the least knowledge was the vendor, because she rarely watches television and no one informs her about the so called policy, in short, they knew it because of Media globalization.

Appendix

Calasiao Community Market. Rice Cake “puto” vendor of Calasiao, Pangasinan was the first person we conversed with. We asked her questions like, what if we were going to pay her some mutilated money in exchange of her Puto? She answered, our money is not useful to her anymore because it was already ripped off and no one can accept it or transact with it.

While heading to Bued Calasiao, Pangasinan particularly in Coca-Cola Plant, we’ve decided to have an interview with the tricycle driver who brought us into our destination.

Canteen Owner, A 43 year-old woman owns a business inside the Coca-Cola Plant. In such a great company, there is a proprietorship. So, we have decided to interview even just a part of that Corporation.

Finaly the house of a housewife at Layno residence. She’s always at home, so why not try to ask if she has knowledge about such Policies.