Applied Economics Introduction PDF

APPLIED ECONOMICS CLASSROOM RULES O Observe L Listen A Always give your V Value other’s...

APPLIED ECONOMICS CLASSROOM RULES O Observe L Listen A Always give your V Value other’s E Enjoy respect Attentively learning best opinion  Basic Economic Problems of the Country Learning Objectives: a. Identify the basic economic problems of the country b. Discuss the causes of economic problems and how these are all linked to scarcity. c. Explain how applied economics can be used to solve economic problem  WHAT CAN YOU SAY ABOUT THE PICTURES? WHAT ARE THE PROBLEMS THAT ARE ROOTED FFROM THIS SITUTATION?  Situation #1 : You are a fresh graduate at a prestigious university. You graduated as summa cum laude and received numerous recognition awards. You took up an education course in order to become a teacher, however, after graduating, you could not find available jobs within the province. What economic problem is present and is affecting you here?  Situation #2 : You are a newly-registered nurse. You wanted to immediately find a job to save enough money for your sick father’s hospitalization. There is no other available job opportunity in the area except for an immediate hiring for customer service representatives. You got the job and you’re now a contact center agent. What economic problem is present and is affecting you here?  Situation #3 : Suppose that you, being the eldest of ten siblings were not able to finish your studies. You were forced to stop going to school at the age of 13 and find a job at an early age in order to support your siblings. What economic problem can be seen here?