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Applied economics is the study of the practical applications of economic theories and models to real-world problems. It involves the use of economic concepts and tools to analyze and solve problems in various fields, such as business, government, and international trade. Applied economics is an interdisciplinary field that combines economic theory with other disciplines, such as mathematics, statistics, and computer science.
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Economics is useless if it doesn't inform decisions. A great slide asks: "Given this data, should the central bank raise interest rates?"