PROVIDING “ECONOMIC INSIGHTS,” the San Beda Economic Society (SBES), together with the Junior Philippine Economics Society (JPES), hosted the recurring “EQUINOMIX 2024: Empowering Filipinos Towards Realizing a Prosperous Middle-Class Society through Economic and Financial Literacy” in celebration of the annual Economic and Financial Literacy Week last December 7 at San Beda University (SBU).
In an interview with The Bedan, SBES President Enrique Louise Bonete shared that the motivation for their event was “last year’s iteration of Equinomix.”
“So, this year we wanted to improve it with a bomb. So, we encountered more difficulties, but we encountered more fulfillment. Mas marami kaming partners ngayon compared last year. Last year was just around 20+ universities, now it’s 43 and above universities all over the Philippines.”
The event was organized into three breakout rooms that simultaneously began at their respective venues: Room 12K, Pamanang Bedista, and Abbot Lopez Hall.
Breakout room one was entitled “Beyond Borders: ASEAN’s Role in Shaping a Resilient, Inclusive Future for the Philippines.”
The first session highlighted the Philippines’ mechanism for leveraging its position in the Association of Southeast Asian Nations (ASEAN) to meet the Sustainable Development Goals (SDGs) on poverty depletion, sustainable economic growth, and social inclusivity.
On the other hand, breakout room two, entitled “Laudato Si and the Path to Sustainable Development: Balancing Economic Growth with Environmental Stewardship,” circulated on the principle of Pope Francis’ Laudato Si’ to “propose the means to a comprehensive approach to environmental responsibility,” advocating for a sustainable and ethical use of resources.
Prof. Mary Grace R. Agner, an economist and instructor at the University of Asia and the Pacific (UA&P), launched the third breakout room with the title “Empowering Filipinos through Financial Literacy: From Personal Finance to Debt Management,” at the Abbot Lopez Hall.
The session discussed the financial literacy status of Filipinos, practical techniques for handling personal finance, banking basics, and responsible debt management. Prof. Agner further suggested in her introduction that financial literacy must be acknowledged “as early as elementary education.”
During the afternoon preliminaries in the Jonathan Sy Auditorium, Bonete administered his welcome remarks before the plenary talk began.
Then, Director Jolly D. La Rosa, Office of the Chief Economist, tackled the finishing lecture on “The Blueprint for a Prosperous Philippines.”
The final session presented the data status upon analyzing financial literacy, inclusive policies, and fair competition as the talk upheld its objective of “examining ways to develop Filipino families in every economic stratum to guarantee economic resilience.”
Towards the program’s end was a presentation of contests such as meme entries, extemporaneous speech, and financial literacy. Appointed as judges were Ian Alexander Reyes, Micah Shane Calivo, and Besseree Joice Ruzol.
Ruzzel Niña Estopace, a participating student from the University of the Philippines Los Baños (UPLB), explained how the “assistance of having these kinds of events gives people the opportunity to be financially literate.”
“And with the help of these kinds of talks and seminars nagkakaro’n ng opportunity ‘yung mga tao na maging educated in terms of how to spend their money. And how to be financially literate and be responsible,” she shared.
Meanwhile, Arabella Mignonette Feliciano, a BS Economic student from Cavite State University (CVSU), spoke about the games she engaged in during the event, “and based doon sa game, mas na-realize ko na sa every action ay dapat pag-isipan nang mabuti kasi hindi natin alam kung ano ‘yung mangyayari in the near future,” she said.
Lastly, the event gave Ashley AJ Dawn Devera, a student from Pangasinan State University (PSU), a personal gain as she came to understand that “…hindi lang pala economic ‘yung sa economic aspect na, ano, involve ang ASEAN… kun’di political and other stuff pa, ano, sa ibang environment community is parang nakaka-enlighten.”
Overall, Bonete expressed his “gratitude” towards JPES and SBU administrators for extending their helping hands in making the program possible.
Although logistic issues were inevitable, Bonete emphasized that “we wish for Filipinos to be more financially literate because that is the foundation of a good economy and a good country. For San Beda, our country, and God.”
(with Maegan Belicena)