Okay, here's my attempt to give you an intuitive representation of the integral along a contour like the semicircle.
First, I'll have to pass on the complex plane portion, since I'm only a bit familiar with actual applications of complex numbers in electrical engineering with AC current. I'm sure in physics there are other applications. But the complex plane is essentially comparable to the xy plane, so I'll try to explain what the contour integral on a semicircular path on the the xy plane would give you.
If you think about it, the semicircular path is almost like taking the x-axis and bending it in a semicircle. When you integrate a function along the x-axis it simply gives you the area under the function. So you can see that if you integrate along the semicircular path, it would give you the area (or actually "surface area") of that half-pipe surface formed between the xy plane and the function z.
Some made up "real world" applications? Pretend you wanted to make a shark net to protect a harbor from sharks somewhere,and you are trying to figure out how much material you need. The shape of the net is to be a semicicle around the harbor. The countour of the ocean bottom would be like the function z. If you were able to model the ocean floor surface mathematically, the contour integral you calculate of the depth of the ocean along the semicircle would give you a number for the amount of netting material you would need.
Another example - pretend you were going to paint a dam like the Hoover Dam (~semicircular in shape). If you could mathematically model the surface of the gorge which is being dammed up, the contour integral would give you the amount of surface area that would have to be painted, and thus an estimate of how much paint would be needed.
Back to the purely mathematical geometric example - If you have a surface z, and take the contour integral along a semicircle on the xy plane, it simply gives you the surface area of that half-pipe surface bounded by the function z and the xy plane.
Anyways - I hope that gives you some insight into what the contour integral gives you. I'll leave the complex plane application to someone else to explain.
Was your problem simplay a math assignment, or was it in some other subject like physics?
Hope this helps
EDIT:
Oh, I actually remembered (just barely) another actual application of the complex number plane in the real world, but it's still quite abstract. It's used in controls engineering, or more specifically in process controls.
Excuse the lack of details, but I remember this from long ago in a process controls course I took in chemical engineering, and never fully grasped everything, and I don't believe it went sufficiently in depth to fully get into your example.
However, in process controls, you mathematically model a system (mechanical or chemical process) which includes a number of different components, and which has feedback to keep the system at a setpoint - maybe you are trying to control the temperature of a tank in which a chemical reaction is taking place that produces heat, so you control the amount of cooling water flowing through a heat exchanger in the tank. The controller uses the deviation of the tank's temperature from the temperature setpoint as input into its programming to adjusting how much it should open the cooling water valve.
Mathematically modelling the behavior of such a system uses complicated mathematical functions called transfer functions, and Laplace Transforms.
As I recall (again barely recall), we would analyze the system to find out under what conditions the system would become unstable (out of control) or stable (self-controlling/correcting). Solving the mathematical equations would produce roots of the equations which were complex numbers, and we would plot these on the complex plane.
Certain of these roots plotted on the complex plane would represent unstable equilibrium points for the system, and others stable equilibrium points. At the unstable equilibrium points the system would act like an upside-down pendulum – being stable only if it were positioned exactly correctly, but quickly moving away from that equilibrium point with the slightest deviation. The stable equilibrium points would be like the correctly hujng pendulum, with any deviations self-corrected back to the stable equilibrium point. All the other points on the complex plane would represent intermediate points in the system behavior. If the system were artificially positioned at any intermediate point, the system would self-correct away from the unstable points and would move toward the stable points.
You can now imagine, that there is a surface described over the complex plane which we can call z, which measures the stability of the system. The various points on the complex plane between the equilibrium points describe the state of the system "in flux" between the equilibrium points. As the system moved away from the unstable points to the stable points, it would follow a contour on the complex plane.
The semicircular path in your problem could be describing the path the system took in response to a deviation (like a spike in temperature, or a change in setpoint). The path might be a natural response of the system to the deviation (like the control system acting on its own), or a forced path (like the operator of the system manually controlling the cooling water valve).
The contour integral might then be a measure of the cumulative amount of heat removed from the system during the course change, as it reacted to the deviation, or the amount of time the system was “out of spec”.
Again this is very qualitative, but I believe is a real application of the type of problem you are dealing with.
However, I think one would need to be at the Master's or even Phd level of chemical or controls engineering to get into the level of detail that your problem is addressing.
Anyways, I hope this was understandable and gives you more insight into how that type of problem might be applicable to the "real" world. It’s actually an interesting application, but you would have to really get into it to fully appreciate it.