Learning Area Applied Economics

Learning Delivery Modality Face to Face

School SCIHS Grade Level Grade 11

Teacher Mr. Joseph M. Learning Area Physical Science
Gutierrez
Teaching Date February Quarter First
LESSON Teaching Time Week 1 No. of Days 4 days
EXEMPLAR

I. OJECTIVES: At the end of the lesson, the learner is able to know the meaning of
economics, understand the economics as a social science and know the main divisions
of economics.
II. CONTENT: INTRODUCTION TO APPLIED ECONOMICS
IV. PROCEDURES:
A. Preparation:
1. Daily Routine
1.1 Greetings
1.2 Prayers
1.3 Classroom Management
1.4 Checking of attendance
2. Review of the past lesson
B. Presentation:
1. Motivation
Ask the students’ point of view of the current issue about the foreign investors coming in
our country.
2. Activities
Group the students into three. Each group will discuss within the group about the
present economic status of our country. One representative from each group will report
to the class what they have discussed. They will be given 2 minutes to prepare.
3. Analysis
Let the students discuss on how they get their answers.
4. Abstraction
Lesson Proper (Discussion) Definition of Terms:

 Economics - is a social science which deals with human wants and their
satisfaction.
- is a science that deals with pricing process. Modern economy is a monetary
economy. Prices are paid in money. So money plays an important role in the economic
life of a society.
- is the science of choice.
- - comes from the Ancient Greek oikos meaning “house” and nomos meaning
“custom” or “law”, hence “rules of the house” (hold for good management.
- - it’s the study of scarcity, the study of people use resources, or the study of
decision-making.
 Political economy - is another name for economics. “Polis” in Greek means a
State. The early writers used the term “Political Economy” for the management of the
State. A person who runs a family is expected to make the best use of the income of the
household. Similarly, the State is expected to get the maximum benefit for the society.
 Existence of human wants - is the starting point of all economic activity in the
world. Unless we make efforts, we cannot satisfy wants. Hence, wants, efforts and
satisfaction form the circle of economics.
 Wealth - all the scarce goods which satisfy our wants.
- in economics, we study about the production of wealth, exchange of wealth,
distribution of wealth and consumption of wealth. As wealth is produced to promote
human welfare, we study the relationship between wealth and welfare.
Main Divisions of Economics:
 Consumption - deals with the satisfaction of human wants.
 Production - refers to the creation of wealth. Strictly speaking, it refers to the
creation of utilities. And utility refers to the ability of a good to satisfy a want.
Three kinds of utility:
• form utility
• place utility
• time utility.
• Land
Four factors of production:
• Labour
• Capital
• organization
 Exchange - in exchange, we give one thing and take another. Goods may be
exchanged for goods or for money. If goods are exchanged for goods, we call it barter.
Modern economy is a money economy. As goods are exchanged for money, we study
in economics about the functions of money, the role of banks and we also study how
prices are determined.
 Distribution – distribution of wealth in the form rent, wages, interest and profits. In
economics, we are not much interested in personal distribution. That is, we do not
analyse how it is distributed among different persons in the society. But we are
interested in functional distribution.
 Public Finance - deals with the economics of government. It studies
mainly about the income and expenditure of government. So we have to study about
different aspects relating to taxation, public expenditure, public debt and so on.
D. Application:
Divide the class into two. Have a short debate. The issue is about the decision of
President Duterte to stop the Philippine-American Alliance. One group is in the side of
favour and other group is not in favour. They will be given one minute to prepare.
E. Generalization:
Ask the students’ point of view about economics as a social science.

Prepared by: Mr. Joseph M. Gutierrez

Teacher III
Noted by: Ms. Zhaira M. Gutierrez
SHS Science
Checked by: Mr. Renante M. Bonilla
Principal II