SCHOOL GRADE LEVEL

TEACHER SUBJECT Applied Economics

DATE QUARTER
DAILY LESSON
PLAN

I. OBJECTIVES
The learners demonstrate an understanding of:
A. Content Standards Economics as an applied science and its utility in addressing the economic problems
of the country

The learners are:

B. Performance Standards 1. analyze and propose solution/s to the economic problems using the principles of
applied economics

C. Learning Competencies/ The learners:

Objectives Define basic terms in applied economics.
ABM_AE12-Ia-d-1
II. CONTENT INTRODUCTION TO APPLIED ECONOMICS
III. REFERENCES
IV. PROCEDURE

Classroom
Management/Preparation
a.1- opening prayer
Let us all stand for a prayer. The student will stand for the prayer.

Good morning Ma’am.

a.b- Cleanliness and
orderliness
GOOD MORNING CLASS
(The students will pick up the
Kindly pick-up the pieces of paper pieces of paper and throw to the garbage bin.)
under your chair and please throw it to
the garbage bin.

a.c – Checking of attendance Fine ma’am!

Thank you students you may now take None ma’am.

you sit.

How are you today class?

Who are absent today?

Very Good!
B. Motivation Okay class! Who can give me some
current issues about foreign investors (the students will give
coming into our country? different answers)

Okay so all your answers are correct!

C. Presentation of the topic Okay today, we will discuss and tackle
the Definition of Terms in n Economics.

But before proceed to our new lesson,

let me present to you our objectives of
the day.

Okay. Everybody let us read the

objectives.

1. To identify the basic terms of

economics
2. To know the main divisions of
economics
D. Activity Now I will group you into three. You
will now select your leader, your
secretary and reporter.

Then brainstorm and discuss within the

group about the present economic status
of our country.

I will give you 5 minutes to and the

present your answers to everyone.

Then as you have your group activity

take note of the following rubrics:

Rubrics:
Promptness-----60% (Students will present their
Delivery --------20% answers)
Neatness--------10%
Creativity-------10%
Total-------------100%

Okay start now.

(After 5 minutes)
Class be ready with your presentation.
Each group will be given 3 minutes to
present their output

E. Analysis 1. How did you get your answers in (Students will present
your activity? different answers)
2. Do you feel the effect of the
economic status of our country today?
3. What do you think are the reasons of
the economic status of our country
today?

Okay very good students! All your

answers are correct!
F. Abstraction Okay so now class let us define
different basic terms of applied
economics.

Economics (a student will read the

(Okay any one please read the definition definition of economics)
of economics) 1.is a social science which deals
with human wants and their satisfaction.

2.is a science that deals with

pricing process. Modern economy
is a monetary economy. Prices
are paid in money. So money plays an
important role in the economic life of a society.

3.is the science of choice.

4. comes from the Ancient Greek

oikos meaning “house” and
nomos meaning “custom” or
“law”, hence “rules of the house”
(hold for good management.

5.it’s the study of scarcity, the

study of people use resources,
or the study of decision-making.

Very good! 1.is another name for

How about Political economy?
Okay please read.
economics. “Polis” in Greek means a State. The
early writers used the
term “Political Economy” for the management
of the State.
A person who runs a family is expected to make
the best use of the income of the household.
Similarly, the State is expected to get the
maximum benefit for the society.

1.is the starting point of all

economic activity in the world.
Unless we make efforts,
Now let us identify “Existence of we cannot satisfy wants. Hence,
human wants” wants, efforts and satisfaction
Yes please read. form the circle of economics.

1.all the scarce goods which satisfy our wants.

Next is “Wealth”.
Please read the definition.
2. in economics, we study about the production
of wealth, exchange of wealth, distribution of
wealth and consumption of wealth.
As wealth is produced to
promote human welfare, we study the
relationship between wealth and welfare.
Okay very good! It deals with the
Okay so now there are main divisions satisfaction of human wants.
of economics. Let us
now identify the different main division
of economics.
It refers to the creation of wealth. Strictly
speaking, it refers to the creation of utilities.
First is “Consumption”. And utility
What is consumption? refers to the ability of a good to
Please read. satisfy a want

Second is “Production”
What is production?

So there are three kinds of utility.

form utility
place utility in exchange, we give one thing and take
time utility. another. Goods may be exchanged for goods or
And there are four factors of for money. If goods are exchanged for goods,
production. we call it barter. Modern economy is a money
Land economy. As goods are exchanged for money,
Labour we study in economics about the functions of
Capital money, the role of banks and we also study how
organization prices are determined.

Okay so next let us identify

“Exchange”?
What is exchange? Okay please read.
distribution of wealth in the form rent, wages,
interest and profits. In economics, we are not
much interested in personal distribution. That
is, we do not analyse how it is distributed
among different persons in the society. But we
are interested in functional distribution.

deals with the economics of government. It

studies mainly about the income and
expenditure of government. So we have to
Very Good! study about different aspects relating to
taxation, public expenditure, public debt and so
Next is “Distribution. on.
Please read.

No. ma’am.
And lastly is “Public Finance”
Okay please read.

Okay very good. Do you have any

questions?
Thisterms are important as we go along
with the lessons in this subject.
G. Application Now we will play a game, The class
will be divided into two two groups. I
will flash a definition and the first group
that can
identify the term and have a higher
points will be the winner.

Are you ready class? Yes maam!

Okay so this is the first one.

deals with the economics of

government. It studies mainly about the
income and expenditure of government. PUBLIC FINANCE
So we have to study about different
aspects relating to taxation, public
expenditure, public debt and so on.

VERY GOOD! next

ECONOMICS
is a science that deals with pricing
process.
Modern economy is a monetary
economy. Prices are
paid in money. So money plays an
important role in the economic life of a
society. EXCHANGE

Okay Very Good!

we give one thing and take another.

Goods may be exchanged for goods or
for money. If goods are exchanged for
goods, we call it barter. Modern
economy is a money economy. As CONSUMPTION
goods are exchanged for money, we
study in economics about the functions
of money, the role of banks and we also
study how prices are determined.
PRODUCTION
deals with the satisfaction of human
wants.

Very Good!

refers to the creation of wealth. Strictly

speaking, it
refers to the creation of utilities. And
utility refers to the ability of a good to
satisfy a want.

Very good Group 1. So the winner will

get 20 pts and the
second will get 15 pts.
H. Making Generalization and What can you conclude with defining
abstraction about the lesson the different terms of economics?
Okay aside that this can help you in the
lessons that we will discuss how can
this terms help you in daily life?
Ma’am, defining terms of economics
will help us to understand easily the lessons in
this lesson.
Ma’am as we encounter this terms in our daily
life like for example
when we heard this in the
news we can now identify that the news is about
economic or related to the economic.

Very good class. It seems that you are

all ready for a short quiz.
Evaluating
Learning In a ¼ sheet of paper identify following:

1. _________ a social science which deals with human wants and their
satisfaction.
2. ________ is the starting point of all economic activity in the world. Unless we
make efforts, we cannot satisfy wants.
3. ________ in economics, we study about the production of wealth, exchange of
wealth, distribution of wealth and consumption of wealth. As wealth is produced
to promote human welfare, we study the relationship between wealth and
welfare.
4. What are the 4 factors of production?

Additional Activity for

application/remediation
REMARKS

REFLECTION

A. No. of learners who earned

80% on the formative
assessment
B. No. of Learners who require
additional activities for
remediation
C. Did the remedial lessons
work? No. of learners who have
caught up with the lesson.
D. No. of learners who continue
to require remediation
E. Which of my teaching
strategies worked well? Why did
this work?
G. What innovation or localized
materials did I use/discover
which I wish to share with other
teachers?

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