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. Gather Data: . Collect relevant data from credible sources. This may include economic indicators, surveys, financial reports, government publications, or interviews. Ensure that your data is up-to-date and reliable. . Theoretical Framework: . Provide a brief overview of the economic theories and concepts that are relevant to your case study. Explain the economic models or principles you will use to analyze the situation. . Context and Background: . Offer context and background information about the economic issue or problem. Explain its historical development, causes, and significance. . Identify Stakeholders: . Identify the key stakeholders involved in the case. This may include government agencies, businesses, consumers, or other groups affected by the economic issue.X Applied-E... Saved on device & 0 : Topic: Income inequality One relevant and interesting economic issue in the Philippines is the persistent problem of income inequality. Income inequality refers to the unequal distribution of income among individuals or households in a given society. I the case of the Philippines, this issue has real-world implications and can benefit from economic analysis for several reasons: Widespread Poverty: The Philippines is a country with a significant portion of its population living in poverty. High levels of income inequality exacerbate this issue, as the wealth gap between the rich and the poor continues to widen. Analyzing the causes and consequences of income inequality can provide insights into how to alleviate poverty and improve the living standards of the population. Social and Political Stability: High income inequality can lead to social unrest and political instability. It can create a sense of injustice and resentment among the less privileged . p entially resulting in protests, strikes, or other forms of civil unrest Understanding the economic factors contributing to income inequality can help policymakers address these concerns and maintain social harmony. Economic Growth: Income inequality can have a significant impact on a country's overall economic growth. When income is concentrated among a sma population, it can limit economic opportunities for others. Analyzing relationship between income inequality and economic growth can inform policies that promote more inclusive and sustainable development. Access to Education and Healthcare: Income inequality can also affect access to essential services like education and healthcare. Those with higher incomes may have better access to quality education and healthcare services, while those w incomes may face barriers to accessing these services. Economic analysis can help identify ways to ensure equitable access to education and healthcare, which are crucial for human development and economic productivity. Policy Interventions: Understanding the root causes of income inequality allows policymakers to design effective interventions to address the issue. This may involve tax reforms, social safety nets, education and training programs, and initiatives to promote inclusive economic growth. Economic analysis can help assess the potential impact of these policy measures and guide their implementation. Globalization and Trade: The Philippines is an active participant in the global economy, and globalization can influence income inequality Analyzing how globalization, trade policies, and foreign investments affect income distribution in the country can provide valuable insights for policymakers navigating the challenges and opportunities of the global marketplace. In summary, income inequality is a pressing economic issue in the Philippines with significant real-world implications. Analyzing the causes and consequences of income inequality can help policymakers develop strategies to reduce disparities in income and improve the overall economic well-being of the population. Case Study Objectives: The objectives of the case study on income inequality in the Philip hilippines are as follows: 1. To Analyze the Extent of Income Inequality: Determine the current level of income inequality in the Philippines by examining income distribution data and relevant indicators. 2. To Identify the Causes and Drivers of Income Inequality: Investigate the underlying factors contributing to income inequa This includes exploring economic, social, and policy-related factors. To Examine the Consequences of Income Inequality: Assess the socio-economic consequences of high levels of income inequality in the Philippines , such as its impact on poverty rates, social cohesion, and economic growth. 4. To Evaluate Existing Policy Measures: Evaluate the effectiveness of existing government policies and interventions aimed at addressing income inequality. To Propose Policy Recommendations: Based on the analysis, provide evidence-based policy mendations to reduce income the Philippines and promote inclusive economic development. Research Questions and Hypotheses: Research Question 1: What is the current leve of income inequality in the Philippines, and how has it evolved over the past decade? Hypothesis 1: Income inequality in the Philippines has increased over the past decade, leading to a greater concentration of wealth among a small segment of the population. Research Question 2: What are the primary drivers of income inequality in the Philippines? Hypothesis 2: Factors contributing to income inequality in the Philippines include disparities in educational opportunities, uneven access to healthcare, variations in wage levels, and unequal access to economic opportunities. Research Question 3: What are the socio-economic consequences of income inequality in the Philippines? Hypothesis 3: High income inequality in the Philippines is associated with higher poverty rates, reduced social cohesion, increased crime rates, and potential threats to political stability. Research Question 4: How effective have existing government policies been in addressing income inequality in the Philippines? Hypothesis 4: Existing policies in the ional cash transfer programs and progressive taxation, have had a limited impact on reducing income inequality due to implementation challenges and limitations. Research Question 5: What policy recommendations can be made to reduce income inequality and promote inclusive economic development in the Philippines? Hypothesis 5: Implementing a es that address disparities in education, healthcare, labor market opportunities, and social safety nets can help reduce income inequality and contribute to more equitable economic growth. Through this case study, the aim is to provide a compreh prehensive analysis of income inequality in the Philippines, shedding light or its root causes, consequences, and policy implications. Ultimately, the study seeks to contribute to informed policymaking and the development of more equitable distribution of income in the country