DAILY LESSON LOG
Department of Education
School
Teacher
Teaching Dates and Time
Session 1:
Grade Level
Learning Area
Quarter
WEEK 1
Session 2:
Session 3:
11/12
APPLIED ECONOMICS
QUARTER 1
Session 4:
I. OBJECTIVES
A. Content Standards
B. Performance Standards
C. Learning
Competencies/Objectives
The learner demonstrates an understanding of…
economics as an applied science and its utility in addressing the economic problems of the country.
The learners shall be able to …
analyze and propose solution/s to the economic problems using the principles of applied economics.
Differentiate economics as social science and applied science in terms of nature and scope.
II. CONTENT
INTRODUCTION TO APPLIED ECONOMICS
III. LEARNING RESOURCES
A. References
1. TG’s Pages
2. LM’s Pages
3. Textbook’s Pages
B. Other Resources
IV. PROCEDURES
a. Reviewing previous lesson or
presenting the new lesson
b. Establishing the purpose of
the lesson
c. Presenting
examples/instances of the
new lesson
SUBJECT ORIENTATION
a. The teacher will ask the
students
about
their
understanding of economics
and its importance.
b. The teacher will then present
the lesson on the nature and
scope of economics as a
social science and an applied
science.
The purpose of this lesson is for the
students to differentiate
economics as a social science
and an applied science in terms
of nature and scope.
a.
The teacher will present
examples of economic issues that
can be studied as a social
science such as income
inequality, market equilibrium,
and the impact of globalization
on the economy.
RECALL THE PAST LESSON
RECALL THE PAST LESSON
There are numerous economic
issues that can be studied as a
social science. Some examples
include:
I.
Income inequality:
This refers to the unequal
distribution of income
within a society.
Researchers can study the
causes and consequences
of income inequality, such
as the impact on
economic growth, social
mobility, and poverty
rates.
II.
Market equilibrium:
This refers to the point at
which the supply and
demand for a good or
service are in balance,
resulting in an efficient
allocation of resources.
Economists can study
market equilibrium to
understand the factors
that influence prices, the
role of government
intervention in markets,
and the impact of market
failures.
III.
Globalization: This
refers to the increasing
interconnectedness of the
world's economies through
trade, investment, and the
movement of people.
Economists can study the
impact of globalization on
economic growth, job
creation, income
inequality, and
environmental
sustainability.
IV.
Unemployment:
This refers to the number of
people who are willing
and able to work but
cannot find employment.
Researchers can study the
causes and consequences
of unemployment, such as
the impact on poverty
rates, mental health, and
social unrest.
V.
Inflation: This refers
to the rate at which the
general level of prices for
goods and services is
rising, resulting in a
decrease in the
purchasing power of
money. Economists can
study the causes and
consequences of inflation,
such as the impact on
interest rates, economic
growth, and the
distribution of income.
VI.
Fiscal and
monetary policy: This refers
to the government's use of
taxes, spending, and
interest rates to influence
the economy. Economists
can study the
effectiveness of fiscal and
monetary policy in
achieving
macroeconomic
objectives such as price
stability, full employment,
and economic growth.
VII.
Environmental
economics: This refers to
the study of the
relationship between the
economy and the natural
environment. Economists
can study the impact of
economic activity on the
environment, the role of
market-based instruments
such as carbon taxes and
cap-and-trade programs
in reducing environmental
harm, and the trade-offs
between economic
growth and environmental
sustainability.
b.
The teacher will also
present examples of economic
issues that can be studied as an
applied science such as demand
forecasting, cost-benefit analysis,
and economic modeling.
There are many economic
issues that can be studied
as an applied science.
Here are a few examples:
I.
Demand
forecasting: This refers to
the process of estimating
how much of a product or
service will be sold in each
period. Applied
economists can study
demand forecasting to
help businesses make
better decisions about
pricing, production, and
inventory management.
II.
Cost-benefit
analysis: This refers to the
process of weighing the
costs and benefits of a
decision or policy. Applied
economists can conduct
cost-benefit analyses to
evaluate the economic
impact of public policies,
such as infrastructure
projects, social programs,
and environmental
regulations.
III.
Economic
modeling: This refers to the
construction of
mathematical or statistical
models to simulate
economic behavior and
predict economic
outcomes. Applied
economists can use
economic modeling to
understand the effects of
changes in policy,
technology, or other
factors on the economy.
IV.
Risk analysis: This
refers to the process of
identifying and quantifying
the risks associated with a
particular decision or
project. Applied
economists can conduct
risk analyses to help
businesses and
governments make
decisions that minimize the
likelihood of financial
losses or other negative
outcomes.
V.
Program
evaluation: This refers to
the process of assessing
the effectiveness of a
particular program or
intervention. Applied
economists can conduct
program evaluations to
determine whether a
particular policy or
program is achieving its
intended goals, and to
identify ways to improve its
effectiveness.
VI.
Industrial
organization: This refers to
the study of how markets
and industries operate and
how firms interact with
each other. Applied
economists can study
industrial organization to
help firms make strategic
decisions about pricing,
production, and market
entry, and to advise
policymakers on how to
promote competition and
efficiency in markets.
VII.
Labor economics:
This refers to the study of
the labor market, including
issues such as wages,
employment, and working
conditions. Applied
economists can study
labor economics to help
firms make decisions
about hiring and training,
and to advise
policymakers on how to
promote full employment
and protect workers' rights.
d. Discussing new concepts
and practicing new skills #1
The teacher will discuss the nature
of economics as a social science,
its goals, and its methods of
analysis.
The teacher will discuss the nature
of economics as an applied
science, its goals, and its methods
of analysis.
a. The teacher will provide a
Venn Diagram to the students
and the students will try to give
similarities and differences of
Economics as A Social Science
and Economics as an Applied
Science.
e. Discussing new concepts
and practicing new skills #2
f.
Developing Mastery
b. The teacher will call out some
students to share their ideas.
g. Finding practical
applications of concepts
and skills in daily living
h. Generalizing and
abstractions about the
lesson
c. Evaluating Learning
.
a. The teacher will facilitate a
discussion on the practical
applications of economics in
daily living.
b. The students will identify
economic decisions they
make every day and how
they can use economics to
make better decisions.
a. The teacher will facilitate a
discussion
on
the
generalizations
and
abstractions about the lesson.
b. The students will identify the
similarities and differences
between economics as a
social science and an applied
science.
a. The teacher will provide an
assessment to evaluate the
students' understanding of the
lesson.
b. The assessment may include
short
answer
questions,
d. Additional Activities for
Application or Remediation
V. REFLECTION
A. No. of learners who earned
80% in the evaluation.
B. No. of learners who require
additional
activities
for
remediation who scored
below 80%.
C. Did the remedial lessons
work? No. of learners who
have caught up with the
lesson.
D. No. of learners who continue
to require remediation.
E. Which of my teaching
strategies worked well? Why
did this work?
F. What
difficulties
did
I
encounter
which
my
principal or supervisor can
help me solve?
G. What innovation or localized
materials did I use/discover
which I wish to share with
other teachers?
problem-solving activities, or
an essay.
a. The teacher will provide additional activities for students who need remediation or for students who want
to apply the concepts and skills they learned in the lesson.
b. The activities may include research projects, case studies, or simulations.