4 PICS 1

4 PICS 1 WORD
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SCIENCE
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A P P L I C AT I O N
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T H E O RY
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T ECHNOLOGY
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WORLD
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WORLD
 Learning Objectives:
1) define the basic concepts of economics as
applied science

2) differentiate economics as social science

and as applied science

3) appreciate the importance of applied

economics in daily lives 13
 Questions:
1.What do you think are the
pictures all about?
2.What have you observed
from the pictures?
15
RUBY JANE V. TAUNAN
Subject Teacher 16
As an Applied Science
 TRUE or FALSE
1. Applied Economics
brings economic
theory nearer to reality.
 TRUE or FALSE
2. The primary aim of
Applied Economics is
not to increase human
welfare.
 TRUE or FALSE
3. Economics as an
applied science
focuses only on
economic growth.
 TRUE or FALSE
4. Applied Economics
may be practiced both
in macroeconomic and
microeconomic level.
 TRUE or FALSE
5. Applied Economics is
simply the study of
observing how theories
work in practice.