Applied Economics

Since the study of economics has only marginal benefit in the real world (Warren Buffett, the greatest investor in history, said "if I spend fifteen minutes a year thinking about the economy, I'm spending about ten minutes too much on it"), the word "applied" has to be put in front of it. Economics is more of a religious study, revolving around why things happen. It often is a terrible predictor of what things are coming.

So when economic theories can find some raison d'être and get applied in the real world, it is actually cause to celebrate. At least for economists wondering why they spent all those years getting the PhD.