Lecture by Dr. Karl Robert L. Jandoc, a Professor of Economics and a UP Scientist at the University of the Philippines Diliman. He earned his PhD in Economics from the University of Hawaii. His research interests include theoretical and applied microeconomics, development economics, and energy economics. He has published in several international peer-reviewed journals, including Energy, International Journal of Game Theory, and Review of Economic Design, among others. He has also served as a consultant for projects funded by various Philippine government agencies, USAID, the Asian Development Bank, and the World Bank.