coolkid
Some of the applications that are used in Applied Computing aren't compatible on Chromebooks (I am thinking database software here as one example) - while they are usually suitable for most use cases in a school environment, something discipline-specific like this might be difficult. That being said, the requirements for Applied Computing are quite fluid (as long as they meet VCAA/study design requirements then technically they are valid).
If your school offers Applied Computing as a subject and Chromebooks are the main device that is part of their BYOD program - I would really be speaking to somebody at your school and asking the question why this wasn't catered for to begin with. You can't be disadvantaged (financially or otherwise) especially if the decision to get a chromebook wasn't your own to begin with. A solution that isn't overly ideal but one which I can think of off the top of my head - why can't the school either loan you out a Windows or Mac device to use for practical components (or if you have a computer lab/room with PCs, use that).
I personally think it's unreasonable to expect that students go out and buy a device because of one subject's technical requirements.