Applied Economics

Subject Title: Applied EconomicsGrade: 12                                                                                                                                No. of Hours/ Semester: 80 hours/ 2nd semesterPrerequisite (if needed): NONE
Subject Description:           This course deals with the basic principles of applied economics, and its application to contemporary economic issues facing the Filipino entrepreneur such as prices of commodities, minimum wage, rent, and taxes. It covers an analysis of industries for identification of potential business opportunities. The main output of the course is the preparation of a socioeconomic impact study of a business venture.

First Quarter

Chapter 1: Introduction to Applied Economics

Learning competencies	CONTENT	PPT Presentation	Worksheet/Activity	Teacher’s File: Lesson Plan/Quiz
1. define basic terms in applied economics	1.1 Revisiting Economics as a social science 1.2 Economics as an applied Science 1.3 Basic economic problems and the Philippine socioeconomic development in the 21st century	Basic Terms Part 1                       Basic Terms Part 2

_________________________________________________

2. identify the basic economic problems of

the country

3. explain how applied economics can be

used to solve economic problems

Part 1- Basic Economic Problem of the Country

Chapter 2: Applied Economics

Learning competencies	CONTENT	PPT Presentation	Worksheet/Activity	Teacher’s File: Lesson Plan/Quiz
1. explain the law of supply and demand, and how equilibrium price and quantity are determined	2.1 Application of Supply and Demand <![if !supportLists]>a.    <![endif]>Prices of basic commodities b. Labor supply, population growth, and wages c. Labor migration and the Overseas Filipino Worker (OFW) phenomenon d. The Philippine peso and foreign currencies e. The Philippine housing shortage and the real estate boom: Rent and Price structure
2. discuss and explain factors affecting demand and supply
3. compare the prices of commodities and analyze the impact on consumers
4. explain market structures (perfect competition, monopoly, oligopoly, and monopolistic competition)
5. analyze the effects of contemporary issues such as migration, fluctuations in the exchange rate, oil price increases, unemployment, peace and order, etc. on the purchasing power of the people
	2.2 Contemporary Economic Issues Facing the Filipino Entrepreneur a. Investment and interest rate b. Rentals c. Minimum wage d. Taxes

Second Quarter

Chapter 3: Applied Economics

Competencies:

1. Identify and explain different principles, tools, and techniques in creating a business (ABM_AE12-IIa-d-9)

2. Distinguish the different services/products of business and industry in the locality (ABM_AE12-IIa-d-10)

*The two competencies should be discussed within 4 weeks or 16 days

Content Standard:

Contents:

<![if !supportLists]>1.    <![endif]>Industry and Environmental Analysis: Business Opportunities Identification

What is a business environment and environment analysis?

What is Micro Environment?

What is Macro-Environment?

(Lesson Plan)

 (Activity/Worksheet)

(Learning Material)

(Other Resources)

<![if !supportLists]>a.    <![endif]>Principles, Tools, and Techniques 

<![if !supportLists]>                                          i.    <![endif]>Competition

<![if !supportLists]>                                         ii.    <![endif]>Customers

<![if !supportLists]>                                        iii.    <![endif]>Suppliers

<![if !supportLists]>                                       iv.    <![endif]>Competitors

Substitutes

(Lesson Plan)

(Activity/Worksheet)

(Learning Material)

(Other Resources)

<![if !supportLists]>2.    <![endif]>Types of Industries

<![if !supportLists]>a.     <![endif]>Agribusiness                               

(Lesson Plan)                       (Activity/Worksheet)

(Learning Material)             (Other Resources)

<![if !supportLists]>b.    <![endif]>Manufacturing

(Lesson Plan)                       (Activity/Worksheet)

(Learning Material)             (Other Resources)

<![if !supportLists]>c.    <![endif]>Retail and services

(Lesson Plan)                       (Activity/Worksheet)

(Learning Material)             (Other Resources)

<![if !supportLists]>d.    <![endif]>international trade (exports and imports)

(Lesson Plan)                       (Activity/Worksheet)

(Learning Material)             (Other Resources)

<![if !supportLists]>3.     <![endif]>identification of Business Opportunities

(Lesson Plan)                       (Activity/Worksheet)

(Learning Material)             (Other Resources)

Performance Standard Standard

Apply tools and techniques for business opportunities like the SWOT/TOWS analysis conduct a survey of macro and micro environments affecting business in a locality

(Lesson Plan)       (Activity/Worksheet)      (Learning Material)         (Other Resources)

Chapter 4: Socioeconomic Impact Study

Competencies:

<![if !supportLists]>1.    <![endif]>Identify and explain the various socioeconomic factors affecting business and industry

<![if !supportLists]>2.    <![endif]>analyze and evaluate the viability of a business and its impact on the community

<![if !supportLists]>3.    <![endif]>formulate recommendations and strategies on how to minimize and maximize a business’s negative impact and positive impact, respectively

*These three competencies should be discussed within 4 weeks or 16 days

Content Standard:

Various socioeconomic impacts of business on the following sectors: consumer, supplier and investors, government, households, and international trade.

Contents:  Socioeconomic Impact Study

<![if !supportLists]>·         <![endif]>consumer (new products and services)

(Lesson Plan)                (Activity/Worksheet)                  (Learning Material)                     (Other Resources)

<![if !supportLists]>·         <![endif]>suppliers - investors(capital, income)

(Lesson Plan)                (Activity/Worksheet)                  (Learning Material)                     (Other Resources)

<![if !supportLists]>·         <![endif]>government(tax revenues, poverty alleviation , basic services)

(Lesson Plan)                (Activity/Worksheet)                  (Learning Material)                     (Other Resources)

<![if !supportLists]>·         <![endif]>households (standard of living, employment)

(Lesson Plan)                (Activity/Worksheet)                  (Learning Material)                     (Other Resources)

<![if !supportLists]>·         <![endif]>international trade (exports and imports of goods and services)

(Lesson Plan)                (Activity/Worksheet)                  (Learning Material)                     (Other Resources)

Performance Standard

Conduct a socioeconomic impact study on consumers (new product and services); suppliers; investors (capital, income) government (tax revenues, poverty alleviation, basic services); households (standard of living, employment) and international trade (exports and imports of goods and services) leading to options in venturing into a business

(Lesson Plan)       (Activity/Worksheet)      (Learning Material)         (Other Resources)