AGUSTIN TRIXIE OSIAS ABM 12 KOTLER
APPLIED ECONOMICS
Economics as an Applied Science and as Social Science
Activity 1
True or False. Write the word True if the statement is true; write False if the
statement is false.
1. True 6. True
2. True 7. True
3. True 8. True
4. True 9. True
5. True 10. True
Activity 2
Differentiate economics as an Applied Science and as a Social Science. Write your
answers inside the circles
Applied science works more with experimental data, which is the data gathered from the process of
experimentation. Social science, on the other hand, works more with experiential data, which is data
obtained from real-life experiences like interviews, surveys.
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?
In 2019, the Philippines was one of the fastest growing economies in the world. It finally shed its “sick
man of Asia” reputation obtained during the economic collapse towards the end of the Ferdinand
Marcos regime in the mid-1980s. After decades of painstaking reform — not to mention paying back
debts incurred under the dictatorship — the country’s economic renaissance took root in the decade
prior to the pandemic. Posting over 6 percent average annual growth between 2010 and 2019 (computed
from the Philippine Statistics Authority data on GDP growth rates at constant 2018 prices), the
Philippines was touted as the next Asian tiger economy.
What are the impacts of this pandemic in the different sectors of the economy?
The impact of the COVID-19 pandemic is drastically changing the lives of people, including the lives of
young people. Schools and universities have closed, exams and events postponed, the usual health
information services are limited, socializing with friends and wider family is highly discouraged and, in
some places, even punishable. Living in these circumstances can be tough for young people for their
social, physical and mental wellbeing.
,AGUSTIN TRIXIE OSIAS ABM 12 KOTLER
APPLIED ECONOMICS
Summary of the Article/interview:
The impact of the COVID-19 pandemic is drastically changing the lives of people, including the lives of
young people. Schools and universities have closed, exams and events postponed, the usual health
information services are limited, socializing with friends and wider family is highly discouraged and, in
some places, even punishable. Living in these circumstances can be tough for young people for their
social, physical and mental wellbeing.
Reference/s:
Ronald M. (2021, August 2) The Philippine economy under the pandemic: From Asian tiger to sick man
again?
https://www.brookings.edu/blog/order-from-chaos/2021/08/02/the-philippine-economy-under-the
pandemic-from-asian-tiger-to-sick-man-again/
Reaction/Opinion:
As COVID-19 strikes the Philippine nation, people rise together to counter it and overcome its
effect on us, on our country and to our economy. At the forefront of the fight against the virus are our
healthcare workers and various front liners. Daily, they face the hazard of infection with their courage and
determination to help a person who has been infected by it without hesitation and regrets.
While the front liners and health workers are fulfilling their jobs, we, the citizens of the
Philippines should do something too to address the pandemic that we are facing today. We must come
together, unite, act as one and be responsible for our actions as we may face the battle of covid 19.
As covid 19 changed our life and lifestyles in many ways, all we must do now to help our country
to win the fight against covid is to follow the government and health organization’s instructions like
wearing a mask and face shield to cover your nose and mouth, wash your hands regularly, use alcohol,
stay 2 meters away from people, reduce your social contact and limit your interactions with friends and
family and stay at home. By following these instructions, we can have a big contribution on helping the
government and lessen the burden that they have right now. This pandemic will not hinder us from
uniting and cooperating with each other, we can do small things and small steps to make a big effect and
impact on our situation right now. Unionize and act together as one to have a better solution and for the
better future.
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?
Bereavement, isolation, loss of income and fear are triggering mental health conditions or exacerbating
existing ones. Many people may be facing increased levels of alcohol and drug use, insomnia, and
anxiety.
Meanwhile, COVID-19 itself can lead to neurological and mental complications, such as delirium,
agitation, and stroke. People with pre-existing mental, neurological or substance use disorders are also
more vulnerable to SARS-CoV-2 infection ̶ they may stand a higher risk of severe outcomes and even
death.
, AGUSTIN TRIXIE OSIAS ABM 12 KOTLER
APPLIED ECONOMICS
Summary of the article/interview/news:
The COVID-19 pandemic has led to a dramatic loss of human life worldwide and presents an
unprecedented challenge to public health, food systems and the world of work. The economic and social
disruption caused by the pandemic is devastating: tens of millions of people are at risk of falling into
extreme poverty, while the number of undernourished people, currently estimated at nearly 690 million,
could increase by up to 132 million by the end of the year.
Now is the time for global solidarity and support, especially with the most vulnerable in our societies,
particularly in the emerging and developing world. Only together can we overcome the intertwined health
and social and economic impacts of the pandemic and prevent its escalation into a protracted
humanitarian and food security catastrophe, with the potential loss of already achieved development
gains.
We must rethink the future of our environment and tackle climate change and environmental degradation
with ambition and urgency. Only then can we protect the health, livelihoods, food security and nutrition
of all people, and ensure that our ‘new normal’ is a better one.
Reference/s:
Kimberly C. (2020, October 13) Impact of COVID-19 on people's livelihoods, their health and our food
systems
https://www.who.int/news/item/13-10-2020-impact-of-covid-19-on-people's-livelihoods-their-health-and
our-food-systems
Reaction/Opinion:
As Covid 19 strike the Philippine nation, we Filipinos are truly affected by this virus. Our lifestyle has
changed, compared to then we are all free. We can travel to faraway places but now we feel like we are in
prison. We can no longer go out without face shields and facemasks. Many Filipinos have lost their jobs
and are unable to enter their jobs due to the virus. This pandemic really changed our lives but we can fight
this by uniting as one.
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?
Recommended preventive measures include social distancing, wearing face masks in public, ventilation and
air-filtering, covering one's mouth when sneezing or coughing, hand washing, disinfecting surfaces,
and quarantining people exposed or symptomatic. Several vaccines have been distributed in many countries
APPLIED ECONOMICS
Economics as an Applied Science and as Social Science
Activity 1
True or False. Write the word True if the statement is true; write False if the
statement is false.
1. True 6. True
2. True 7. True
3. True 8. True
4. True 9. True
5. True 10. True
Activity 2
Differentiate economics as an Applied Science and as a Social Science. Write your
answers inside the circles
Applied science works more with experimental data, which is the data gathered from the process of
experimentation. Social science, on the other hand, works more with experiential data, which is data
obtained from real-life experiences like interviews, surveys.
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?
In 2019, the Philippines was one of the fastest growing economies in the world. It finally shed its “sick
man of Asia” reputation obtained during the economic collapse towards the end of the Ferdinand
Marcos regime in the mid-1980s. After decades of painstaking reform — not to mention paying back
debts incurred under the dictatorship — the country’s economic renaissance took root in the decade
prior to the pandemic. Posting over 6 percent average annual growth between 2010 and 2019 (computed
from the Philippine Statistics Authority data on GDP growth rates at constant 2018 prices), the
Philippines was touted as the next Asian tiger economy.
What are the impacts of this pandemic in the different sectors of the economy?
The impact of the COVID-19 pandemic is drastically changing the lives of people, including the lives of
young people. Schools and universities have closed, exams and events postponed, the usual health
information services are limited, socializing with friends and wider family is highly discouraged and, in
some places, even punishable. Living in these circumstances can be tough for young people for their
social, physical and mental wellbeing.
,AGUSTIN TRIXIE OSIAS ABM 12 KOTLER
APPLIED ECONOMICS
Summary of the Article/interview:
The impact of the COVID-19 pandemic is drastically changing the lives of people, including the lives of
young people. Schools and universities have closed, exams and events postponed, the usual health
information services are limited, socializing with friends and wider family is highly discouraged and, in
some places, even punishable. Living in these circumstances can be tough for young people for their
social, physical and mental wellbeing.
Reference/s:
Ronald M. (2021, August 2) The Philippine economy under the pandemic: From Asian tiger to sick man
again?
https://www.brookings.edu/blog/order-from-chaos/2021/08/02/the-philippine-economy-under-the
pandemic-from-asian-tiger-to-sick-man-again/
Reaction/Opinion:
As COVID-19 strikes the Philippine nation, people rise together to counter it and overcome its
effect on us, on our country and to our economy. At the forefront of the fight against the virus are our
healthcare workers and various front liners. Daily, they face the hazard of infection with their courage and
determination to help a person who has been infected by it without hesitation and regrets.
While the front liners and health workers are fulfilling their jobs, we, the citizens of the
Philippines should do something too to address the pandemic that we are facing today. We must come
together, unite, act as one and be responsible for our actions as we may face the battle of covid 19.
As covid 19 changed our life and lifestyles in many ways, all we must do now to help our country
to win the fight against covid is to follow the government and health organization’s instructions like
wearing a mask and face shield to cover your nose and mouth, wash your hands regularly, use alcohol,
stay 2 meters away from people, reduce your social contact and limit your interactions with friends and
family and stay at home. By following these instructions, we can have a big contribution on helping the
government and lessen the burden that they have right now. This pandemic will not hinder us from
uniting and cooperating with each other, we can do small things and small steps to make a big effect and
impact on our situation right now. Unionize and act together as one to have a better solution and for the
better future.
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?
Bereavement, isolation, loss of income and fear are triggering mental health conditions or exacerbating
existing ones. Many people may be facing increased levels of alcohol and drug use, insomnia, and
anxiety.
Meanwhile, COVID-19 itself can lead to neurological and mental complications, such as delirium,
agitation, and stroke. People with pre-existing mental, neurological or substance use disorders are also
more vulnerable to SARS-CoV-2 infection ̶ they may stand a higher risk of severe outcomes and even
death.
, AGUSTIN TRIXIE OSIAS ABM 12 KOTLER
APPLIED ECONOMICS
Summary of the article/interview/news:
The COVID-19 pandemic has led to a dramatic loss of human life worldwide and presents an
unprecedented challenge to public health, food systems and the world of work. The economic and social
disruption caused by the pandemic is devastating: tens of millions of people are at risk of falling into
extreme poverty, while the number of undernourished people, currently estimated at nearly 690 million,
could increase by up to 132 million by the end of the year.
Now is the time for global solidarity and support, especially with the most vulnerable in our societies,
particularly in the emerging and developing world. Only together can we overcome the intertwined health
and social and economic impacts of the pandemic and prevent its escalation into a protracted
humanitarian and food security catastrophe, with the potential loss of already achieved development
gains.
We must rethink the future of our environment and tackle climate change and environmental degradation
with ambition and urgency. Only then can we protect the health, livelihoods, food security and nutrition
of all people, and ensure that our ‘new normal’ is a better one.
Reference/s:
Kimberly C. (2020, October 13) Impact of COVID-19 on people's livelihoods, their health and our food
systems
https://www.who.int/news/item/13-10-2020-impact-of-covid-19-on-people's-livelihoods-their-health-and
our-food-systems
Reaction/Opinion:
As Covid 19 strike the Philippine nation, we Filipinos are truly affected by this virus. Our lifestyle has
changed, compared to then we are all free. We can travel to faraway places but now we feel like we are in
prison. We can no longer go out without face shields and facemasks. Many Filipinos have lost their jobs
and are unable to enter their jobs due to the virus. This pandemic really changed our lives but we can fight
this by uniting as one.
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?
Recommended preventive measures include social distancing, wearing face masks in public, ventilation and
air-filtering, covering one's mouth when sneezing or coughing, hand washing, disinfecting surfaces,
and quarantining people exposed or symptomatic. Several vaccines have been distributed in many countries
