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  • Day 1 Week 1 Applied Economics

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    The document is the notes from the first synchronous session of an Applied Economics class. It includes an opening prayer, information about the subject teacher, attendance, class rules, and learning objectives. The session began with an introduction to economics, discussing how it is the study of allocating scarce resources. It defines key economic terms like scarcity and provides examples of scarce natural resources. It then explains why economics must be studied and how applied economics can help address the Philippines' economic problems. The importance of economics as an applied science is discussed.

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    Day-1-Week-1-Applied-Economics

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    The document is the notes from the first synchronous session of an Applied Economics class. It includes an opening prayer, information about the subject teacher, attendance, class rules, and learning objectives. The session began with an introduction to economics, discussing how it is the study of allocating scarce resources. It defines key economic terms like scarcity and provides examples of scarce natural resources. It then explains why economics must be studied and how applied economics can help address the Philippines' economic problems. The importance of economics as an applied science is discussed.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    16 views35 pages

    Day 1 Week 1 Applied Economics

    Uploaded by

    Xen
    The document is the notes from the first synchronous session of an Applied Economics class. It includes an opening prayer, information about the subject teacher, attendance, class rules, and learning objectives. The session began with an introduction to economics, discussing how it is the study of allocating scarce resources. It defines key economic terms like scarcity and provides examples of scarce natural resources. It then explains why economics must be studied and how applied economics can help address the Philippines' economic problems. The importance of economics as an applied science is discussed.

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    © All Rights Reserved
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    of 35

    TO

    APPLIED ECONOMICS
    WEEK 1 Q1
    Day 1

    August 29, 2023


    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1
    OPENING PRAYER

    Dear Lord and Father of all,


    Thank you for today.
    Thank you for your ways in which you provide for us all.
    For your protection and love we thank you.

    Help us to focus our hearts and minds now on what we are


    about to learn.
    Inspire us by your Holy Spirit as we listen and write.
    Guide us by your eternal light as we discover more about
    the world around us.

    We ask all this in the name of Jesus.


    Amen.
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    ANGELICA E. FRANCISCO, LPT


    Subject Teacher

    Email: ae.francisco@ntc.edu.ph
    Contact no: 09566321672
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    ATTENDANCE
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1
    APPLIED ECONOMICS

    RULES
    Week 1 (W1Q1) - Synch Session #1

    1. Wearing of school uniforms


    2. Be on time. (inside the classroom and in your assigned seat
    when the bell rings)
    3. Use of Cellular phones or any gadgets is prohibited.
    4. Be prepared for class everyday.
    5. Listen when others are talking.
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    LEARNING OBJECTIVES
    1. Differentiate economics as social science and applied science in
    terms of nature and scope
    2. Define basic terms in applied economics
    3. Identify the basic economic problems of the country.
    4. Explain how applied economics can be used to solve economic
    problems.
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    LET’S START
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    TRAFFIC
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    INTRODUCTION TO

    ECONOMICS
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    WHAT IS

    ECONOMICS?
    - Came from oikanomia or oikonomus, a Greek
    word meaning Household Management (Leaño Jr.,
    2016) or management of the household (Viray Jr.
    & Avila-Bato, 2018)
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    WHAT IS

    ECONOMICS?
    A social science that deals with how to allocate scarce
    resources to satisfy man’s unlimited needs and wants
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1 WHAT IS
    ECONOMICS?
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    SCARCITY OF
    RESOURCES
    - Refers to the limited availability of a resource in
    comparison to the limitless wants.
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    EXAMPLE OF NATURAL
    RESOURCES
    COAL
    150 YRS
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    EXAMPLE OF NATURAL
    RESOURCES
    PHOSPHORUS
    50-100 YRS
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    EXAMPLE OF NATURAL
    RESOURCES
    Natural Gas
    52 YRS
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    EXAMPLE OF NATURAL
    RESOURCES
    OIL
    50 YRS
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    EXAMPLE OF NATURAL
    RESOURCES
    WATER
    12 YRS
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    WHY DO WE NEED TO
    STUDY

    ECONOMICS?
    Source: Liam Cayanong Youtube Channel
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    WHY DO WE NEED TO
    STUDY

    ECONOMICS?
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    ECONOMICS AS AN
    APPLIED SCIENCE
    - The application of economic theory and quantitative tools to analyze
    specific economic problems and other inquiries with the end of
    providing solutions and new directions.
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    APPLIED ECONOMICS in relation to


    Philippine Economic Problem
    - A solid understanding of economic principles and how they
    are applied in real-life situations can serve as significant
    tools in helping address the country’s economic problem.
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    IMPORTANCE OF ECONOMICS AS
    AN APPLIED SCIENCE
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    IMPORTANCE OF ECONOMICS AS
    AN APPLIED SCIENCE
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    IMPORTANCE OF ECONOMICS AS
    AN APPLIED SCIENCE
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    IMPORTANCE OF ECONOMICS AS
    AN APPLIED SCIENCE
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    Now, let’s test your


    vocabulary

    You ready?
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    POVERTY UNEMPLOYMENT
    GDP

    CAPITAL
    SCARCITY
    GNP
    SOCIAL SCIENCE
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1
    TWO BRANCHES OF
    ECONOMICS
    B. MICROECONOMICS and MACROECONOMICS
    MICROECONOMICS
    - Is concerned about the behavior of the individual units of
    the economic system.
    MACROECONOMICS
    - A division of economics that deals with the overall
    performance of national and international economies
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    MICROECONOMICS

    INDIVIDUAL HOUSEHOLD FIRMS


    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    PRODUCER
    CONSUMER MARKET SYSTEM
    COMPETITION

    MICROECONOMICS
    INDIVIDUAL SUPPLY AND DEMAND
    WAGES
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    MACROECONOMICS
    ECONOMY AS A WHOLE AGGREGATE SUPPLY

    AGGREGATE DEMAND
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

    FISCAL POLICY
    EMPLOYMENT MONETARY
    INFLATION

    MACROECONOMICS
    INTERNATIONAL TRADE
    APPLIED ECONOMICS
    Week 1 (W1Q1) - Synch Session #1

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