Applied Economics is a field of economics that focuses on applying economic theories and principles to analyze and solve real-world problems. This major aims to use economic tools to analyze data and make decisions in various fields such as business, finance, public policy, health, education, and energy.

Fields of study in applied economics:
Applied Microeconomics:

• Labor Economics: The study of issues of employment, wages, immigration, and the effects of labor policies.
• Industrial economics: analysis of the structure of industries, corporate behavior, and market competition.
• Economics of Education: The study of how educational policies affect academic and labor market outcomes.

Applied Macroeconomics:

• Fiscal and monetary policies: Analysis of the impact of government policies on economic growth, inflation, and unemployment.
• International Trade: Study of the impact of trade policies and changes in international trade on the national economy.

Health Economics:

• Health care cost-benefit analysis: Evaluating the effectiveness and costs of health policies and medical programs.
• Behavioral economics: The study of how psychological and social factors influence health decisions.

Environmental and Energy Economics:

• Environmental Policies: Analyze the impact of environmental policies on companies and individuals.
• Natural resource economics: the study of the use and management of natural resources and renewable energy.

Development Economics:

• Economic Growth and Development: Analysis of factors affecting economic growth in developing countries.
• Social policies: Assessing the impact of programs and policies on poverty and inequality.

Econometrics:

• Economic data analysis: Using statistical and economic methods to analyze data.
• Economic Forecasting: Developing models to forecast economic changes.

Required skills:

• Analytical skills: the ability to analyze economic data and information and draw conclusions.
• Research skills: Design and implement research studies using economic tools.
• Technical skills: Ability to use statistical and economic software such as STATA, R, and Python.
• Communication skills: to convey ideas and results clearly to non-specialized audiences.
• Critical thinking: To evaluate existing economic policies and practices and make informed recommendations.

Work fields:

• Public sector: working with governments in developing and implementing economic policies.
• Companies and institutions: Providing economic analysis and consulting to major companies.
• International Organizations: Work with organizations such as the World Bank, International Monetary Fund, and the United Nations to develop economic policies.
• Academia: Teaching applied economics and conducting research in universities.
• Economic consulting: providing consulting services to companies, governmental and non-governmental institutions.

The importance of applied economics:

• Solving economic problems: It helps in finding effective solutions to real economic problems.
• Policy improvement: contributes to the development of more effective, evidence-based policies.
• Promoting economic growth: Helps identify factors affecting economic growth and provide recommendations to improve them.
• Data Analysis: Provides powerful tools to analyze economic data and draw useful conclusions.

Applications of applied economics:

• Policy Evaluation: Analyzing the impact of different economic policies on the economy and society.
• Economic Forecasting: Developing models to predict future economic changes and assist decision makers.
• Market Analysis: Study of market structure and consumer behavior to provide recommendations to companies.
• Resource Management: Develop strategies to manage natural resources and energy sustainably.

The specialty of Applied Economics is a multifaceted field that provides important analytical tools and methods to understand and analyze realistic economic issues and provide effective solutions, which makes it of great importance in improving economic policies and promoting sustainable development.