Applied Economics
Course Description:
Applied Economics explores the use of economic principles in analyzing issues, making
decisions, and solving real-life problems that affect individuals, businesses, communities, and
governments. This course emphasizes critical thinking, analytical tools, and the application of
microeconomic and macroeconomic concepts to address current economic conditions and local
development issues. Students will engage in case studies, simulations, and research to apply
economics in practical and localized contexts.
Knowledge-Level Outcomes (Remembering & Understanding)
1. Define basic concepts in applied economics such as scarcity, choice, opportunity cost,
and economic systems.
2. Identify key economic issues affecting the country, region, and community.
3. Explain economic indicators (e.g., GDP, inflation, employment) and their relevance to
national development.
Skills-Level Outcomes (Applying & Analyzing)
4. Apply economic theories and principles in assessing current economic conditions.
5. Interpret graphs, charts, and data related to economic performance.
6. Analyze the impact of fiscal and monetary policies on business and community
development.
7. Compare various economic systems and models in solving economic problems.
Values-Level Outcomes (Evaluating & Creating)
8. Evaluate the effectiveness of government and private sector programs in addressing
economic issues.
9. Design small-scale entrepreneurial or economic solutions for local problems.
10. Demonstrate ethical and responsible economic decision-making that contributes to
sustainability and social well-being.
📚 Weekly Lesson Plan – Applied Economics (SHS, ABM Strand)
Grade Level: 12
Semester: One (18 Weeks)
Strand: Accountancy, Business, and Management (ABM)
✅ Week 1: Introduction to Applied Economics
Learning Objectives:
o Define applied economics and its importance.
o Distinguish between micro and macroeconomics.
Content: Nature, scope, and relevance of applied economics.
Strategies: Lecture, discussion, personal reflection.
Assessment: Diagnostic quiz, journal entry.
✅ Week 2: Basic Economic Problems and Systems
Learning Objectives:
o Identify the basic economic problems of society.
o Compare different economic systems.
Content: Scarcity, allocation, opportunity cost, command vs. market economies.
Strategies: Group brainstorming, infographic analysis.
Assessment: Short quiz, group presentation.
✅ Week 3: Economic Models and Decision-Making Tools
Learning Objectives:
o Interpret basic economic graphs and curves.
o Apply marginal analysis and opportunity cost concepts.
Content: PPF, marginal utility, rational choice.
Strategies: Graph drawing, case scenarios.
Assessment: Worksheet, graph interpretation quiz.
✅ Week 4: Market Structures and the Role of Government
Learning Objectives:
o Compare types of market structures.
o Discuss when government intervention is necessary.
Content: Perfect competition, monopoly, oligopoly, government regulation.
Strategies: Market simulation, video case.
Assessment: Role-play, reflection paper.
✅ Week 5: Economic Indicators and Measurement
Learning Objectives:
o Explain GDP, CPI, inflation, unemployment.
o Analyze Philippine economic performance using indicators.
Content: Macroeconomic data, growth rate, HDI.
Strategies: Data analysis, economic bulletin review.
Assessment: Data interpretation quiz, infographic.
✅ Week 6: National Income Accounting
Learning Objectives:
o Calculate GDP and national income components.
o Distinguish real vs. nominal GDP.
Content: GNP, NNP, income and expenditure approach.
Strategies: Guided computation, video explainer.
Assessment: Problem-solving worksheet, oral drill.
✅ Week 7: Fiscal Policy
Learning Objectives:
o Explain the government's role in spending and taxation.
o Analyze the effects of fiscal policy on the economy.
Content: Taxes, budget deficit/surplus, public spending.
Strategies: Budget simulation, case study.
Assessment: Group project (budget plan), quiz.
✅ Week 8: Monetary Policy and the Banking System
Learning Objectives:
o Explain money creation and control.
o Assess the role of BSP in stabilizing the economy.
Content: Money supply, inflation, interest rates.
Strategies: Mind map, article review.
Assessment: Short quiz, diagram creation.
✅ **Week 9: Midterm Exam & Review
Learning Objectives: Demonstrate understanding of economic fundamentals and
policies.
Strategies: Jeopardy review game, group Q&A.
Assessment: Written midterm exam.
✅ Week 10: International Trade and Globalization
Learning Objectives:
o Explain trade theories and agreements.
o Discuss the impact of globalization on local economies.
Content: Free trade, tariffs, WTO, ASEAN integration.
Strategies: Mapping, simulation games.
Assessment: Reflection journal, worksheet.
✅ Week 11: Economic Development Issues
Learning Objectives:
o Identify challenges facing local development.
o Evaluate the impact of poverty and inequality.
Content: Inclusive growth, labor market, urbanization.
Strategies: Documentary viewing, local research.
Assessment: Data report, reaction paper.
✅ Week 12: Sustainability and Green Economics
Learning Objectives:
o Define sustainability in an economic context.
o Propose environmentally responsible economic decisions.
Content: SDGs, circular economy, ecological footprint.
Strategies: Group activity (SDG action plan), sustainability tracker.
Assessment: Group output, peer evaluation.
✅ Week 13: Entrepreneurship and Innovation in the Economy
Learning Objectives:
o Analyze the role of entrepreneurs in economic growth.
o Design a business model addressing a community problem.
Content: Business models, economic value creation.
Strategies: Pitch deck planning, problem-based learning.
Assessment: Business canvas draft, pitch outline.
✅ Week 14: Cost-Benefit Analysis (CBA)
Learning Objectives:
o Evaluate decisions and projects using CBA.
o Apply decision-making tools in everyday life.
Content: Costs vs. benefits, break-even, externalities.
Strategies: Sample computation, decision tree.
Assessment: CBA worksheet, group case.
✅ Week 15: Public Economics and Policy
Learning Objectives:
o Discuss the role of policy in public welfare.
o Analyze real-life policy issues (e.g., TRAIN Law, subsidies).
Content: Taxation, public goods, corruption, governance.
Strategies: Debate, news analysis.
Assessment: Position paper or open-note quiz.
✅ Week 16: Policy Design Workshop
Learning Objectives:
o Formulate policy recommendations based on local economic needs.
o Communicate policy logic and expected outcomes.
Content: Policy structure, SWOT, implementation plans.
Strategies: Workshop, mini-research.
Assessment: Policy paper draft.
✅ Week 18: Final Exam
Learning Objectives: Demonstrate mastery of economics concepts and applications.
Assessment:
o Comprehensive final exam
TEACHING STRATEGIES
Lecture-discussion
Case study analysis
Data interpretation & graphing
Economic simulations
Group research & presentations
Policy writing workshops
Performance-based assessments
ASSESSMENT TOOLS
Written quizzes & exams
Worksheets and problem sets
Infographics and visual outputs
Research papers and policy briefs
Oral presentations and debates
Performance tasks & simulations
ASSESSMENT TOOLS
Quizzes
Problem-solving worksheets
Infographics
Case reaction papers
Financial analyses
Capstone project proposal
Written midterm and final exams
References for Applied Economics (SHS-appropriate)
1. DepEd K–12 Curriculum Guide: Applied Economics
Department of Education (2016).
Official SHS reference for standards and competencies.
2. Manapat, C. (2017). Applied Economics.
C&E Publishing, Inc.
A Philippine-context SHS textbook widely used in ABM classes.
3. Mankiw, N. G. (2018). Essentials of Economics.
Cengage Learning.
Good foundational text for understanding micro and macro concepts.
4. Case, K., Fair, R., & Oster, S. (2014). Principles of Economics.
Pearson Education.
Clear explanations applicable to SHS learners.
5. Todaro, M. & Smith, S. (2015). Economic Development.
Pearson.
Excellent for development economics, poverty, and local/national growth issues.