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I OBJECTIVES
A Content Standards Demonstrates an understanding of economics as applied science and its utility in addressing the economic problems of the country.
B Performance Standards Analyzes and proposes solutions to economic problems using the principles of applied economics.
a. The teacher will ask the learners to identify economic issues based on the pictures
shown above.
b. The teacher will present examples of economic issues such as inflation,
unemployment, poverty, and environmental degradation.
I. Inflation: This refers to the general increase in the price level of goods and
services over time, reducing the purchasing power of money. High inflation can lead
to economic instability, as it makes it harder for businesses and individuals to
plan.
II. Unemployment: This refers to the number of people who are willing and able to
work but are unable to find employment. High levels of unemployment can have
negative impacts on individuals, families, and society, including reduced income,
social tension, and a lower quality of life.
ANALYSIS
III. Poverty: This refers to the condition of not having sufficient income or resources to
3. Presenting examples/instances
meet basic human needs, such as food, housing, and healthcare. Poverty can have
of the new lesson
negative impacts on health, education, and social participation, and can limit
opportunities for economic and social mobility.
IV. Environmental degradation: This refers to the negative impact of economic
activities on the environment, such as pollution, deforestation, and climate change.
Environmental degradation can have significant long-term economic and social
impacts, including increased healthcare costs, reduced productivity, and
displacement of communities.
c. The teacher will also present examples of how applied economics is used to solve
these issues and problems, such as cost-benefit analysis, economic forecasting, and
policy analysis. The class will be divided into 2 groups. The 1st group will identify different
issues in which they will recommend solutions to reduce its effect and/or
eventually solve the problem. They will be given 15 minutes to prepare and
discuss within their respective groups. Afterwards, they will present their
output in the class.
a. The teacher will connect the economic resources to the four basic economic problems.
V. REFLECTION
Prepared by:
EFREN N. NOCETE
Teacher II
Marcial O. Rañola Memorial School
(MORMS)
Guinobatan, Albay