SENIOR HIGH SCHOOL DEPARTMENT

Teachers’ Subject Outline # 3.2

TIME FRAME (WEEK): 3

Subject Name: SH-Econ

Subject Descriptive Title: Applied Economics

I. Lesson Title: UNIT 1: Introduction to Applied Economics II. Materials:
Chapter 2: Economics as an Applied Science Text Book
Learning Outcomes: Facebook Page

 Differentiate economics as social science and applied

References:
science in terms of nature and scope
Saluba, Dennis J.(2018). Applied
 Define basic terms in applied economics Economics for Senior High
School. Quezon City: C & E
At the end of the session, you should be able to: Publishing, Inc.
1. Understand applied economics;
2. Explain the meaning of economic theory;
3. Enumerate the different economic theories; and
4. Discuss the importance of the study of econometrics.

III. INTRODUCTION / OVERVIEW

In the previous unit, you learned about economics as a social science in relation to people’s
behavior and choices may impact the society. In connection, this unit is about economics as an applied
science in which it focuses on the application and theories of economics that will be helpful in
understanding more of the topic. It will be useful to understand and know the different theories and
people as the foundation in economics. The ideologies presented are from prominent individuals in the
field of economics. A method in studying economics is also part of the lesson for it is significant in
solving and providing solutions on economic questions.

IV. LEARNING ACTIVITY

A. ANTICIPATORY SET

A. List three examples of NEEDS and WANTS below

B. List three examples of GOODS and SERVICES below
NEEDS WANTS
NEEDS WANTS
1. 1.
1. 1.
2. 2.
2. 2.
3. 3.
3. 3.
 B. INPUT

Read and study the following:

CHAPTER 2: Economics as an Applied Science: pp. 9-12

 Applied Economics (pp. 9-10)

 Early Economic Theories (pp. 10-12)
1. Malthusian Theory of Population Growth
2. Adam Smith and the Wealth of Nations
3. Economic Ideas of Adam Smith
4. Free Market
5. Modern Economic Theories
 Econometrics (p. 12)

C. MODELING

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 D. CHECKING FOR UNDERSTANDING

Answer the following exercises found in your textbook.

Learning Task No. 2
Part I: (Matching Type) – p. 13
Part II: (Essay) – p. 14

E. GUIDED PRACTICE

Written Work 3.3

Name: _______________________ Grade & Section: ________________________

Date: ________________________ Score: _______________________

PART 1. Identification: Read and identify the statements below. Write your answer on the space provided
before each number. (15 pts.)

________________1. It is the study of economics in application to real-life scenarios.

________________2. A theory on commercial activities such as the production and consumption of

goods.

________________3. The proponent of Malthusian Theory of Population Growth.

________________4. It is a system of ideas that may use to explain some aspects of the natural world.

________________5. A doctrine that claims that there should be no government intervention in an

economic system.

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 ________________6. A type of economic theory which stated that an increasing consumption of goods
is economically beneficial.

________________7. An economic theory which advocates free competition and a self-regulating

market.

________________8. The economic theory popularized by John Maynard Keynes.

________________9. The application of statistical and mathematical theories in economics for the
purpose of testing hypotheses and forecasting future trends.

_______________10. An economic idea by Adam Smith in which he said that machinery and
allocation of labor would lead to an increase in production and greater wealth.

_______________11. An economic theory that believed that money is the important driver of
economic growth.

_______________12. He is considered as the Father of Economics.

_______________13. The economic theory that examined the relationship between population growth
And resources.

_______________14. The economist who is famous for his Say’s Law or law of the market.

_______________15. The book written by Adam Smith which offers a detailed description of life and

trade in English society.

F. INDEPENDENT PRACTICE

Performance Task No. 3.2 (50 pts.) Score: ________________

G. WRAP UP

Reflect on what you have learned after taking up these lessons by filling out the chart below.

V. ADDITIONAL RESOURCES

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Property of UNIVERSITY OF CEBU – SENIOR HIGH SCHOOL atj2020