Guidelines for Applied Economics

Applied Economics is one of the specialized subjects under the Academic career track and ABM
learning strand. Some examples of the things that you will learn from taking this subject include:
 Introduction to Applied Economics
 Revisiting Economics as a social science
 Economics as an applied science
 Basic economic problems and the Philippine socio-economic development
in the 21st century

 Application of Supply and Demand

 Prices of basic commodities
 Labor supply, population growth, and wages
 Labor migration and the Overseas Filipino Worker (OFW) phenomenon
 The Philippine peso and foreign currencies
 The Philippine housing shortage and the real estate boom
 Rent and Price structure

 Contemporary Economic Issues Facing the Filipino Entrepreneur

 Investment and interest rate
 Rentals
 Minimum wage
 Taxes

 Industry and Environmental Analysis

 Principles, Tools, and Techniques
 competition
 customers
 suppliers
 competitors
 substitutes
 Types of Industries
 agribusiness
  manufacturing
 retail and services
 international trade (exports and imports)
 Identification of Business Opportunities

 Socioeconomic Impact Study

 consumer (new products and services)
 suppliers – investors (capital, income)
 government (tax revenues, poverty alleviation, basic services)
 households (standard of living, employment)
 international trade
 (exports and imports of goods and services)

While studying, you will also be asked to demonstrate what you have learned by participating in
class activities that may include the following:
 Proposing solution/s to economic problem using the principles of applied economics
 Conducting a survey of current economic situations within the vicinity
 Using tools and techniques like the SWOT analysis to analyze business opportunities
 Conducting a survey of macro and microenvironments affecting business in a locality
 Conducting a socioeconomic impact study on consumers