APPLIED ECONOMICS

Name of Learner:________________________________ Grade Level:_________

Section:_______________________________________ Date:_______________

Learning Activity Sheet

Economics as an Applied Science and as Social Science

Background Information for Learners

Economics as applied science applies economic theories to predict or provide
solutions to the problems faced by the economy.

On the other hand, economics as social science studies the behavior of individuals
and how they react to the different economic issues like the problem of scarcity.

Learning Competency with Code

Differentiate economics as social science and applied science in terms of nature and
scope ABM_AE12-Ia-1

Activity 1

True or False. Write the word True if the statement is true; write False if the
statement is false.

1. Economics as social science has something to do with our everyday lives.

2. One a man is applying a job to sustain its basic needs shoes is an example of
economics as social science.
3. There two branches of economics the microeconomics and the
macroeconomics.
4. Applied Economics is an application of conclusion from the different economic
theories.
5. Using economic theories, applied economics tries to address the central
problem of economics which is scarcity.
6. The word economics derived from the Greek word ”Oikonomus” meaning
household management.

PRACTICE PERSONAL HYGIENE PROTOCOLS AT ALL TIMES 1

 7. Adam Smith is the Father of economics.
8. Economics is applied in in our daily lives.
9. Scarcity is the central economic problem.
10. To address the unlimited needs and wants of the people with the limited
resources is one of the significant concerns in economics.

Activity 2

Differentiate economics as an Applied Science and as a Social Science. Write your

answers inside the circles.

Social
Applied E
Science
C

Activity 3 Article/News Review

Answer the following questions. You may use news articles, live/recorded
interviews provided by the TV stations and your opinion in answering the questions.
Don’t forget to write the complete references, website or TV station where it was
lifted.

1. What is the status of the Philippine Economy while in combat with Covid 19
pandemic? What are the impacts of this pandemic in the different sectors of the
economy?

Summary of the Article/interview:

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PRACTICE PERSONAL HYGIENE PROTOCOLS AT ALL TIMES 2

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Reference/s:

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Reaction/Opinion:

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2. Applying Economics as a social science how did the people reacted to the
different measures done by the government? How this Covid 19 pandemic affected
the lives of the Filipino people?

Summary of the article/interview/news:

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Reference/s:

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Reaction/Opinion:

3. Knowing Applied Economics and embracing the new normal, what are the initial
plans and moves of the government to combat the effects of the pandemic to the
economy?

Summary of the article/interview/news:

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PRACTICE PERSONAL HYGIENE PROTOCOLS AT ALL TIMES 3

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Reference/s:

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Reaction/Opinion:

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Activity 3 Rubric :
Exemplary Above average Adequate Inadequate
(18) (15) (13)
(20)
Organization Writing shows Writing is Writing is Writing lacks
high degree of coherent and coherent and logical
coherence and organized logical but organization
logical logically. some points
reasoning. are missing
Content Content shows Content shows Content is Content is
in synthesis of good points of good but with acceptable but
ideas. It ideas. It limited ideas. ideas are
excellently provides underdeveloped
addresses the sufficient
question. answer to the
question.
Grammar Essay is free Essay is Essay is Errors are
from errors grammatically grammatically frequent
correct with correct with
minimal errors few errors

PRACTICE PERSONAL HYGIENE PROTOCOLS AT ALL TIMES 4

Closure
Complete the statement below.

In this activity, I learned that ________________________________________

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References:
Viray, Edilberto B.,Jr. and Jesusa Avila-Bato, Applied Economics, Anvil
Publishing,2018

Dinio, Rosemary R. and George A. Villasis,Applied Economics, Rex

Bookstore,Manila,2017

PRACTICE PERSONAL HYGIENE PROTOCOLS AT ALL TIMES 5

Answer Key:

Activity 1

1. True
2. True
3. True
4. True
5. True
6. True
7. True
8. True
9. True
10. True

Prepared by:
CYRIL M. PACUNANA

TII
Tumauini National High School

PRACTICE PERSONAL HYGIENE PROTOCOLS AT ALL TIMES 6