Applied Economics is a branch of economics that focuses on using economic theories and principles to address real-world issues. It involves analyzing data and applying quantitative methods to understand how economic factors influence decisions in various sectors, such as business, healthcare, and public policy. This field helps policymakers and organizations make informed decisions by evaluating the potential impacts of different strategies. By studying trends and behaviors, applied economists can provide insights that guide resource allocation, improve efficiency, and enhance overall economic well-being in society.