Name: Limbaga, Wendel Limbaga Grade Level: 12

Section: Alexander Date: 10/13/20

PRINCIPLES OF APPLIED ECONOMICS

Learning Activity Sheet

Background Information for Learners

Look at the study of economics, supply and demand, efficient pricing, lowering costs, etc.
Now, take those into real world situations and apply the concepts of Applied Economics to solve
the problems that every business and the whole economy have. When you apply the economic
theories, you will find that life in an office and inside the classroom can have different problems.
Companies tend to be good at a very big stuff, raw materials, manufacturing, sales. Even there
they can make improvements, but they have to spend a lot on transportation, communications,
and resources. These things can be improved upon. Apply what you learned from real life
problems and how you solve them.

The purpose of applied economics is to improve the quality of practice in business, public
policy, and daily life by thinking thoroughly about costs and benefits, incentives, and human
behavior. Applied economics can involve the use of case studies and real-life situations, which is
the application of real-world data to statistical and economic models and comparing the results
against the theories being tested and applying it to reality. (Jim Chappelow, 2019)

In this lesson, we will discover different solutions in different economic problems. It is a

discovery and integrating personal and theoretical understanding to have an authentic learning
regarding the topic

Learning Competency with Code

Examine the utility and application of applied economics to solve economic issues and problems

LEARNING COMPETENCY:
ABM_AE12-Ia-d-3
 Activity 1: Economic Problems!

Direction: Try to choose at least two pictures of economic problems in the Philippines and post
it in a clean separate sheet of paper.

Criteria:

1. Show understanding on the two economic problems posted

2. Creativity in showing the economic problems

3. Clear explanation of the economic problems

10 points – 3 indicators are evident

5 points – 2 indicators are evident
1 point – 1 indicator is evident

The picture on the left side is an example
of microeconomic problem. It talks about
inequality and poverty. The picture shows
10% of the population still in 1.90 a day.
We can consider inequality a problem
because of opinions of others. Inequality is
a problem but it is also a problem to know
how much we should seek to reduce
poverty. Some of us will might agree of
lessening poverty. But there is a question
come to my mind. How far should we take
it? Should we focus for perfect equality or
should we focus for equality of
opportunity?
The pictures on the right side is an example
of macroenvironment problem. It talks
about inflation. High inflation can be
serious problem if price rise faster than
wages and nominal interest rate. If prices
increase faster than wages, the spending
power will decline. Also, quickly rising
prices can creates confusion and
uncertainty.
Activity 2: Identification

Direction: Identify the economic problems in each paragraph. Write your answer on the
space provided.

Heavy Traffic 1. As we observe, there are lots of vehicles plying within every city in our
country. Reducing the number of vehicles in the city or proper planning of the national and local
government about traffic situations would ease up the traffic in our country.

Trash 2. A problem that comes with the dump sites is the toxic called leachate that
seeps into the soil, and most of the time is released unfiltered into the river system and the
groundwater –which is a source of our drinking water. One way to solve this is to convince the
manufacturers to use fewer toxic materials.

Poor Educational System 3. The Poor Educational System is one of the biggest problem
today. Because of our population today, the government cannot provide all the needs like lack of
classrooms, lack of chairs, and lack of things that will be needed.
 Flooding 4. Flooding occurs from heavy rainfall when natural watercourses do not have
the capacity to convey excess water. Floods can be devastating consequences on the
economy, environment, and people. The causes of floods are the clogged canals because of
improper management of garbage.

High crimes rates 5. The cause of crime is not merely the poverty or inability of the
government to provide basic needs such as jobs and education. Crimes are caused by wrong
moral choices. Perhaps unemployment or hunger is an influence but it is the lack of moral
training that cause an individual to steal, cheat, or murder. The government should focus on this
because lots
of innocent people die without justice.

Activity 3: Reflective Paper

Direction: Do a reflective paper on the ten economic problem facing the Philippine
economy with three parts; introduction, body and conclusion. Write your answer on a
clean separate sheet of paper.
Introduction:
What is economic? Why economics important? What is the economic problem facing the
Philippine economy? What is the purpose of applied economic?

Body:
There are many ways to defined economics. It is the study of scarcity, the study of how
people use resources and respond to incentives. Economics is the study of people and choices.
Additional, economics comes from the Greek word “OIKONOMIA” which means “household
management. Economics is important because of the fact of scarcity and the desire. Scarcity means
the tension between infinite wants and finite resources. There are economic problem facing the
Philippines economy namely: heavy traffic, trash, poor educational system, flooding, high crimes
rate and many more.

Conclusion:

Economics can take into the real world that is why we need to learn it in order for us to
understand. Also, economics problems are important to know, to have an idea on how to solve it
when it happens into a real life.
Rubrics for Scoring

Criteria ACCEPTABLE GOOD EXCELLENT

( 5) ( 8) (10)

Structure Rate as fair regarding Good structure of Excellent structure of

sentence constructions. sentence sentence.

Meaning Needs a quite Good understanding of Excellent meaning with

acceptable help on economic problem with more than four citation
understanding one citation supporting supporting details on
economic problems and details on reflective reflective thoughts. .
with citation but not thoughts.
proper.

Authenticity Fair rating on Good delivery of Excellent delivery of

authenticity. reflective paper and it reflective paper and it
has a common ideas and has a unique ideas and
solutions. solutions.
 Activity 4: Do the task!

Direction: Try to localize the economic problems. Do a workshop on how to solve economic
problems in your barangay in a simplest way.

Outline: Improper disposal of waste is the major problem that our barangay is facing right now. If
this problem cannot solve as soon as possible it will become worse. There is an effect if it is not
solved immediately. It can affect our health, affects out climate, air pollution, soil contamination,
infection to humans and many more. That is why we need to find a solution from this kind of
problem.

Problem: Improper Disposal of Waste.

Solution:
To the community, the local barangay officials should implement a process in the collecting
of these wasted per household, for a cleaner & better environment for its people to live in. Another
probable solution for the local government officials is to split the collection of wastes and give
exact schedules to the collectors of the wastes in the areas for the gathering of the waste/s to be
quicker & well-organized.

To the household, each household must donate to the proper disposal of wastes for this
system to work. They should properly separate their trashes and place them in their assigned
location.

Concrete Activities: I will call this activity “Keep our street clean”, in this activity can help the
barangay to reduce waste and have a beautiful barangay. In this activity every street should
maintain cleanliness and have a better view also. So, they need to have a unity in order for them to
maintain cleanliness and have a better street. At the end of the month, the barangay officials will
walk around to see if there are any changes. The most cleanliness street at the end of the month will
win a cash prize.
 Rubrics for scoring

Criteria Score 10-8 7-4 3-1

Content out of Ideas are factual Ideas are Ideas are bluff
10 points and meaningful Conventional and and untimely
real

5 4 3-1

Structure out of 5 Logically There are gaps in Dis-organized

points arrange with 5 transitions with less with less than 3
sentences than 5 sentences sentences.

TOTAL out of
15 points

Reflection:

Direction: Reflect on the following questions:

1.What did I learn?

I have learned a lot from this lesson. I learned what is the study of economics and take
it as a real-life situation. Aside from that, I also learned the purpose of applied economics
and its meaning.

2.Why does this learning matter?

It helps to you to understand especially when you take it in real life situation and helps
us to understand the importance of it.

3.In what ways will I use this learning?

As an ABM Student, I can apply this especially when I have work and I can apply this
in my job. Also, it helps me to make my work easy in the future.
Reference:

Cabrera, Helen Ma.F., et.al.(2016) Organization and Management: Textbook for Senior High
School: Vibal Group Inc.

Bird, Kelly and Hill, Hall.(2009). Philippine Economic Development: A Turning Point?:
Southeast Asian Affairs

https://www.jstor.org/journal/soutasiaaffa?refreqid=excelsior%3Abf4e7dd86a1707696
e62bb61185e4e4e

Answers’ Key

Activity 2: 1. Heavy traffic, 2. Trash, 3. Poor educational system

4.Flooding, 5.High crime rates

Activity 1, Activity 3 & Activity 4 – Use Rubrics in scoring the output.

PREPARED BY

ELENOR R. MENDOZA

SST-II

Angeles City National High School