applied economics
The branch of economics that uses economic theory and quantitative methods to analyze real-world situations.
He is majoring in applied economics at university.
We conducted a market analysis using methods from applied economics.
経済学 is the broader field of economics, while 応用経済学 specifically refers to the application of economic theories to practical problems.
理論経済学 (theoretical economics) focuses on developing abstract models, whereas 応用経済学 applies those models to real data and policy issues.
Compound of 応用 (application) and 経済学 (economics). The term is a direct calque from English 'applied economics'.