years 7 to 10 moneysmart teaching units of work · years 7 to 10 moneysmart teaching units of work...

Draft Australian Curriculum:

Economics and Business content links

Years 7 to 10

MoneySmart Teaching

Units of Work

2

TABLE OF CONTENTS

Years 7 – 10 MoneySmart Teaching Units of Work ......................................................... 3

Knowledge and Understanding supporting Years 7 – 10 ................................................. 4

Skills supporting Years 7 – 10 ......................................................................................... 6

Economics and Business ................................................................................................ 7

MoneySmart Teaching Units of Work

Year 7 Mathematics – How can we reduce our spending? ........................................ 11

Year 7 Science – Should I drink bottled water? ......................................................... 14

Year 8 Mathematics – How can we access money overseas? ................................... 17

Year 8 Science – Light up the globe! ......................................................................... 20

Year 9 Mathematics – How can we obtain more money? .......................................... 24

Year 9 English – Could I live smaller? ....................................................................... 28

Year 10 Mathematics – Reaching goals: What's involved? ........................................ 32

Year 10 English – Teens talk money ......................................................................... 35

Economics and Business Curriculum

Organisation .............................................................................................................. 39

Economics and Business Knowledge and Understanding ......................................... 39

Economics and Business Skills ................................................................................. 40

Relationship between the strands .............................................................................. 40

Year-level descriptions .............................................................................................. 40

Key questions ............................................................................................................ 41

Content descriptions .................................................................................................. 41

The Australian Curriculum: Economics and Business has been written and is awaiting endorsement.

Some states and territories have already begun implementing this curriculum. For those states and

territories this this document identifies which ASIC MoneySmart Teaching materials may support the

teaching of the Australian Curriculum: Economics and Business.

3

Overview: Years 7 – 10 MoneySmart Teaching Units of Work

Economics and Business Strands MoneySmart Teaching

Secondary Units Economics and Business Knowledge and Understanding

Economics and Business Skills

ACHEK017 ACHEK018 ACHES021 ACHES022 ACHE023 ACHES0024 ACHES025 ACHES026

Year 7 Mathematics – How can we reduce our spending?

ACHEK017 ACHES021 ACHES022 ACHE023 ACHES0024 ACHES025 ACHES026

Year 7 Science – Should I drink bottled water?

ACHEK027 ACHEK028 ACHES032 ACHES033 ACHES034 ACHES035 ACHES036 ACHES037

Year 8 Mathematics – How can we access money overseas?

ACHEK027 ACHEK029 ACHEK030 ACHES032 ACHES033 ACHES034 ACHES035 ACHES036 ACHES037

Year 8 Science – Light up the globe!

ACHEK038 ACHEK040 ACHEK041 ACHEK042

ACHES043 ACHES044 ACHES045 ACHES046 ACHES047 ACHES048 ACHES049

Year 9 Mathematics – How can we obtain more money?

ACHEK038 ACHEK039 ACHEK040 ACHEK041

ACHES044 ACHES045 ACHES046 ACHES047 ACHES048 ACHES049

Year 9 English – Could I live smaller?

ACHEK050 ACHEK053 ACHEK055 ACHEK056 ACHES057 ACHES058 ACHES059 ACHES060 ACHES061

Year 10 Mathematics – Reaching goals: What’s involved?

ACHEK052 ACHEK053 ACHEK054 ACHES055 ACHES056 ACHES057 ACHES058 ACHES059 ACHES060 ACHES061

Year 10 English – Teens talk money

4

Years 7 – 10 Economics and Business

Knowledge and Understanding: Scope and Sequence: Years 7 – 10

(Reference pp 46-47 Australian Curriculum: Economics and Business)

Key i

nq

uir

y q

uesti

on

s

Year 7 Year 8 Year 9 Year 10

Why is there a relationship

between consumers and

producers in the market?

Why is personal,

organisational and financial

planning for the future

important for both

consumers and

businesses?

How does entrepreneurial

behaviour contribute to a

successful business?

What types of work exist

and in what other ways can

people derive an income?

Why are markets needed, and

why are governments involved?

Why do consumers and

businesses have both rights and

responsibilities?

What may affect the ways

people work now and in the

future?

How do different businesses

respond to opportunities in the

market?

How do participants in the global

economy interact?

What strategies can be used to

manage financial risks and

rewards?

How does creating a competitive

advantage benefit business?

What are the responsibilities of

participants in the workplace and

why are these important?

How is the performance of an

economy measured?

Why do variations in economic

performance in different

economies exist?

What strategies do

governments use to manage

the economy?

How do governments,

businesses and individuals

respond to changing

economic conditions?

Co

nte

nt

Descri

pti

on

s

The ways consumers and

producers respond to and

influence each other in the

market.

The ways markets operate in

Australia and why they may be

influenced by government.

Australia as an ‘economy’ and its

place within the broader Asia and

global economy.

Indicators of economic

performance and how

Australia’s economy is

performing.

Why and how individuals

and businesses plan to

achieve short-term and

long-term personal,

organisational and financial

objectives.

The traditional markets of

Aboriginal and Torres Strait

Islander communities and their

participation in contemporary

markets

Why and how participants in the

global economy are dependent on

each other.

The links between economic

performance and living

standards, the variations that

exist within and between

economies, and the possible

causes.

5


Characteristics of

entrepreneurs and

successful businesses.

The rights and responsibilities of

consumers and businesses in

Australia

Why and how people manage

financial risks and rewards in the

current Australian and global

financial landscape.

The ways that governments

manage the economy to

improve economic

performance and living

standards.

Why individuals work, types

of work and how people

derive an income.

Types of businesses and the

ways that businesses respond

to opportunities in Australia

How and why businesses seek to

create and maintain a competitive

advantage in the global market.

Factors that influence major

consumer and financial

decisions and the short- and

long-term consequences of

these decisions.

Influences on the ways people

work and factors that might

affect work in the future.

The roles and responsibilities of

participants in the changing

Australian or global workplace.

The ways businesses

organise themselves to

improve productivity, including

the ways they manage their

workforce, and how they

respond to changing

economic conditions.

6


Skills: Scope and Sequence: Years 7 – 10

(Reference pp 48-49 Australian Curriculum: Economics and Business)

Years 7 & 8 Years 9 & 10

Questioning and Research

Develop questions about an economic or business

issue or event, and plan and conduct an investigation

or project.

Gather relevant data and information from a range of

digital, online and print sources.

Develop questions and hypotheses about an economic or

business issue or event, and plan and conduct an

investigation.

Gather relevant and reliable data and information from a

range of digital, online and print sources.

Interpretation and analysis

Interpret data and information displayed in different

formats to identify relationships and trends.

Analyse data and information in different formats to explain

cause and effect relationships, make predictions and

illustrate alternative perspectives.

Economic reasoning, decision-making and application

Generate a range of alternatives in response to an

observed economic or business issue or event, and

evaluate the potential costs and benefits of each

alternative.

Apply economics and business knowledge, skills and

concepts in familiar and new situations.

Generate a range of viable options in response to an

economic or business issue or event, use cost-benefit

analysis and appropriate criteria to recommend and justify a

course of action and predict the potential consequences of

the proposed action.

Apply economics and business knowledge, skills and

concepts in familiar, new and hypothetical situations.

Communication and reflection

Present evidence-based conclusions using economics

and business language and concepts in a range of

appropriate formats, and reflect on the consequences

of alternative actions.

Present reasoned arguments and evidence-based

conclusions in a range of appropriate formats using

economics and business conventions, language and

concepts.

Reflect on the intended and unintended consequences of

economics and business decisions.

7

Years 7 – 10 MoneySmart Teaching Units of Work

Economics and Business MoneySmart Teaching

Years 7 – 10 Units Economics and Business Knowledge and Understanding


A range of mobile phone plans exist to meet a

variety of customer needs and wants (ACHEK017)

List household expenses where some money

could be saved (ACHEK018)

Question parents about the family budget and spending habits

(ACHES021)

Gather data about unit pricing from various sources (ACHES022)

Interpret mobile phone plan costs and align to needs and wants of

users (ACHES023)

Identify strategies for saving money within the family budget and

explain the advantages and disadvantages of implementing them

(ACHES024)

Create a simple budget and calculate potential savings over a period

of 6 months (ACHES025)

Present a recommendation of the most suitable phone plan for a

given user (ACHES026)

Year 7 Mathematics

How can we reduce our spending?

Bottled water has a range of sources and

processes used to produce it (ACHEK017) Develop questions about the process of producing potable water in

either bottles or by tap (ACHES021)

Use an internet site to explore the water cycle (ACHES022)

Identify the trend in bottled water sales in Australia (ACHES023)

Identify what Individuals can do to reduce the amount of water

needed for food consumption and explain the statement “The world

is thirsty because we are hungry” (ACHES024)

Participate with the class in an investigation to support a decision

about whether to drink bottled water (ACHES025)

Communicate findings and present a conclusion to an investigation

(ACHES026)

Year 7 Science

Should I drink bottled water?

8





Banks are part of a financial market (ACHEH027)

Recognise the historical significance of bartering in

Aboriginal and Torres Strait Islander communities

(ACHEK028)

Provide information about using money overseas to people who are

preparing to travel (ACHES032)

Gather accurate and useful data and information from a range of

sources (ACHES033)

Investigate an online currency converter (ACHES034)

Evaluate the pros and cons of various travel money transaction

cards (ACHES035)

Apply informed decision-making skills in providing advice to

travellers (ACHES036)

Present travel information and advice in an appropriate format

(ACHES037)

Year 8 Mathematics

How can we access money overseas?

Legislation determines type of light globes

available for purchase in Australia (ACHEK027)

Sustainability and environmental issues are

associated with production and purchase of

various artificial light sources(ACHEK029)

A variety of light bulbs exist to satisfy consumer

demand for products (ACHEK030)

Plan an investigation into a preferred artificial light source

(ACHES032)

Access an online energy calculator and conduct an internet search

to find the cost of electricity from a local provider (ACHES033)

Interpret data in graphs to compare electricity usage over several

quarters (ACHES034)

Recommend the most cost effective change to reduce amount of

money spent on lighting (ACHES035)

Compare relevant factors to decide and justify a choice of light bulb

for desk light (ACHES036)

Promote the chosen light source in a promotional pamphlet

(ACHES037)

Year 8 Science

Light up the globe!

9





Workers are participants in the Australian economy

(ACHEK038)

Investments enable people to accumulate savings

for the future (ACHEK040)

Financial institutions can create a competitive

market advantage through their products

(ACHEK041)

Participants in the workplace have rights and

responsibilities (ACHEK042)

Investigate the number of hours students work (ACHES043)

Collect information on financial institutions and fair work practices

from relevant websites and research jobs online (ACHES044)

Analyse data in Microsoft Excel on Census At School website

(ACHES045)

Compare advantages and disadvantages of term deposits over

regular savings accounts (ACHES046)

Explain the ideal job (ACHES047)

Tabulate hours worked and money earned and represent the data

graphically (ACHES008)

Discuss advantages and disadvantages of an action taken to obtain

money (ACHES049)

Year 9 Mathematics

How can we obtain more money?

Young people make consumer choices in everyday

life (ACHEK038)

Online shopping and financial transactions in a

global context create challenges (ACHEK039)

Protection is needed against identity theft and

scams with online transactions (ACHEK040)

Australian and overseas shopping and retail

websites use persuasive techniques and strategies

to attract customers (ACHEK041)

View relevant video clips to gather information (ACHES044)

Predict the impact of online shopping trends in the next 5 – 10 years

(ACHES045)

Respond to the question “Could I live smaller” (ACHES046

ACHES047 ACHES048 ACHES049)

Year 9 English

Could I live smaller?

10





Inflation as an indicator of economic performance

(ACHEK050)

Inflation, depreciation and cost of loans influence

and affect consumer decisions and buying

outcomes (ACHEK053)

Identify questions and considerations for various scenarios in which

people plan for their financial future (ACHES055)

Collect information about compound interest through use of an

online calculator (ACHES056)

Discuss differences between simple and compound interest and

explain which type is more favourable for the customer (ACHES057)

Discuss the implications of purchasing a car on borrowed finance

from a car dealer (ACHES058 ACHES061))

Apply knowledge of good debt and bad debt to brainstorm scenarios

that demonstrate them (ACHES059)

Present a scenario in which saving and borrowing money,

depreciation, inflation and buying an asset would influence the

financial planning of it (ACHES060)

Year 10 Mathematics

Reaching goals: What’s involved?

Employment matters include wages and taxation

(ACHEK052)

Factors like age and cost of finance influence

decisions when buying a car (ACHEK053)

Casual employment offers a flexible workplace

structure (ACHEK054)

Prepare questions to form the basis of interviews and discussions

about obtaining employment and financial management

(ACHES055)

Gather relevant data and information from a variety of sources

relevant to the interview and discussion topics (ACHES056)

Analyse information to make an informed decision about purchasing

a car by applying economics and business knowledge and skills

(ACHES057 ACHES058 ACHES059)

Present an informative, simulated TV talk show about consumer and

financial matters for teenagers (ACHES060)

Discuss the intended and unintended consequences of the decision

to shop online (ACHES061)

Year 10 English

Teens talk money

11


Links to the Australian Curriculum and National Consumer and Financial Literacy Framework

Year 7 Mathematics – How can we reduce our spending?

Australian Curriculum – Mathematics, Economics and Business National Consumer and Financial Literacy Framework

Mathematics

► Strand Number and algebra

Sub-strand Real numbers

Content Description

– Round decimals to a specified number of decimal places (ACMNA156)

Sub-strand Money and financial mathematics

Content Description

– Investigate and calculate 'best buys', with and without digital technologies

(ACMNA174)

► Strand Statistics and probability

Sub-strand Data representation and interpretation

Content Description

– Identify and investigate issues involving numerical data collected from

primary and secondary sources (ACMSP169)

Economics and Business

►Strand Knowledge and Understanding

Content Descriptions

– The ways consumers and producers respond to and influence each other in

the market (ACHEK017)

– Why and how individuals and businesses plan to achieve short-term and

long-term personal, organisational and financial objectives (ACHEK018)

(Note: the student learnings in the National Consumer and Financial

Literacy Framework are divided into, and are applicable over, bands

covering two chronological years.)

Year 8

► Dimension Knowledge and understanding

Student Learnings

– Explain why it is important to set and prioritise personal financial goals

– Identify implications of ‘terms and conditions’ such as fees, penalties,

interest and warranties

– Analyse and explain the range of factors affecting consumer choices.

► Dimension Competence

Student Learnings

– Compare income, spending commitments and life-styles at different

stages of life

– Determine the value of ‘deals’ when purchasing goods and services

such as ‘buy one, get one free’

– Justify the selection of a range of goods and services in a variety of

‘real-life’ contexts

– Identify and explain marketing strategies used in advertising and social

media to influence consumer decision-making.

http://www.australiancurriculum.edu.au/Glossary?a=M&t=Number

http://www.australiancurriculum.edu.au/Glossary?a=M&t=Decimal

http://www.australiancurriculum.edu.au/Curriculum/ContentDescription/ACMNA156



12


► Strand Economics and Business Skills

Sub-strand Questioning and research


– Develop questions about an economic or business issue or event, and plan

and conduct an investigation or project (ACHES021)

– Gather relevant data and information from a range of digital, online and print

sources (ACHES022)

Sub-strand Interpretation and analysis

Content Description

– Interpret data and information displayed in different formats to identify

relationships and trends (ACHES023)

Sub-strand Economic reasoning, decision-making and application


– Generate a range of alternatives in response to an observed economic or

business issue or event, and evaluate the potential costs and benefits of

each alternative (ACHES024)

– Apply economics and business knowledge, skills and concepts in familiar

and new situations (ACHES025)

Sub-strand Communication and reflection

Content Description

– Present evidence-based conclusions using economics and business

language and concepts in a range of appropriate formats, and reflect on the

consequences of alternative actions (ACHES026)

► Dimension Responsibility and Enterprise

Student Learnings

– Recognise the importance of planning for their financial futures and

appreciate that sacrificing current expenditure can bring long-term

benefits

– Recognise that people have different ways of living and expectations

according to their values and/or financial situation

– Recognise that their ability to make informed decisions about personal

finance and financial products is strengthened by finding and evaluating

relevant information and accessing reliable advice

– Demonstrate awareness that family, community and socio-cultural

values and customs can influence consumer behaviour and financial

decision-making

13

Years 7 – 10 Achievement Standards

Connection to year level Achievement Standards

This unit of work contributes to the bolded sections of the Achievement Standards in Mathematics and Economics and Business for Year 7.

Mathematics

By the end of Year 7, students solve problems involving the comparison, addition and subtraction of integers. They make the connections between

whole numbers and index notation and the relationship between perfect squares and square roots. They solve problems involving percentages and all four

operations with fractions and decimals. They compare the cost of items to make financial decisions. Students represent numbers using variables. They

connect the laws and properties for numbers to algebra. They interpret simple linear representations and model authentic information. Students describe

different views of three-dimensional objects. They represent transformations in the Cartesian plane. They solve simple numerical problems involving angles

formed by a transversal crossing two parallel lines. Students identify issues involving the collection of continuous data. They describe the relationship between

the median and mean in data displays.

Students use fractions, decimals and percentages, and their equivalences. They express one quantity as a fraction or percentage of another. Students solve

simple linear equations and evaluate algebraic expressions after numerical substitution. They assign ordered pairs to given points on the Cartesian plane.

Students use formulas for the area and perimeter of rectangles and calculate volumes of rectangular prisms. Students classify triangles and quadrilaterals.

They name the types of angles formed by a transversal crossing parallel line. Students determine the sample space for simple experiments with equally likely

outcomes and assign probabilities to those outcomes. They calculate mean, mode, median and range for data sets. They construct stem-and-leaf plots and

dot-plots.


By the end of Year 7, students describe the interdependence of consumers and producers in the market. They explain the importance of short- and long-term

planning to individual and business success and identify different strategies that may be used. They describe the characteristics of successful businesses and

explain how entrepreneurial capabilities contribute to this success. Students identify the reasons individuals choose to work and describe the various sources of

income that exist.

When researching, students develop questions and gather data and information from different sources to investigate an economic or business

issue. They interpret data to identify trends. They propose alternative responses to an issue and assess the costs and benefits of each alternative. They

apply economics and business knowledge, skills and concepts to familiar problems. Students develop and present conclusions using appropriate

texts, terms and concepts. They identify the effects of their decisions and the possible effects of alternative actions.

14



Year 7 Science – Should I drink bottled water?

Australian Curriculum – Science, Economics and Business National Consumer and Financial Literacy Framework

Science

► Strand Science understanding

Sub-strand Chemical world

Content Description

– Mixtures, including solutions, contain a combination of pure substances

that can be separated using a range of techniques (ACSSU113)

Sub-strand Earth and space

Content Description

– Water is an important resource that cycles through the environment

(ACSSU222)

► Strand Science as a human endeavour

Sub-strand Use and influence of science

Content Description

– Science and technology contribute to finding solutions to a range of

contemporary issues; these solutions may impact on other areas of society

and involve ethical considerations (ACSSH 120)


► Strand Knowledge and Understanding

Content description

– The ways consumers and producers respond to and influence each other

in the market (ACHEK017)




Year 8


Student Learnings

– Research, identify and discuss the rights and responsibilities of

consumers in a range of ‘real-life’ contexts

– Analyse and explain the range of factors affecting consumer choices


Student Learnings



► Dimension Responsibility and enterprise

Student Learnings

– Explain how individual and collective decisions may have an impact on

the broader community and/or the environment

– Apply consumer and financial knowledge and skills in relevant class

and/or school activities such as student investigations, charity

fundraising, product design and development, business ventures and

special events

– Apply informed and assertive consumer decision-making in a range of


15






and conduct an investigation or project (ACHES021)

– Gather relevant data and information from a range of digital, online and

print sources (ACHES022)


Content Description











Content Description


language and concepts in a range of appropriate formats, and reflect on

the consequences of alternative actions (ACHES026)



decision-making

16



This unit of work contributes to the bolded sections of the Achievement Standards in Science and Economics and Business for Year 7.

Science

By the end of Year 7, students describe techniques to separate pure substances from mixtures. They represent and predict the effects of unbalanced forces,

including Earth’s gravity, on motion. They explain how the relative positions of the Earth, sun and moon affect phenomena on Earth. They analyse how the

sustainable use of resources depends on the way they are formed and cycle through Earth systems. They predict the effect of environmental changes

on feeding relationships and classify and organise diverse organisms based on observable differences. Students describe situations where scientific

knowledge from different science disciplines has been used to solve a real-world problem. They explain how the solution was viewed by, and impacted on,

different groups in society.

Students identify questions that can be investigated scientifically. They plan fair experimental methods, identifying variables to be changed and measured.

They select equipment that improves fairness and accuracy and describe how they considered safety. Students draw on evidence to support their

conclusions. They summarise data from different sources, describe trends and refer to the quality of their data when suggesting improvements to their

methods. They communicate their ideas, methods and findings using scientific language and appropriate representations.


By the end of Year 7, students describe the interdependence of consumers and producers in the market. They explain the importance of short- and long-

term planning to individual and business success and identify different strategies that may be used. They describe the characteristics of successful

businesses and explain how entrepreneurial capabilities contribute to this success. Students identify the reasons individuals choose to work and describe the

various sources of income that exist.

When researching, students develop questions and gather data and information from different sources to investigate an economic or business

issue. They interpret data to identify trends. They propose alternative responses to an issue and assess the costs and benefits of each alternative.

They apply economics and business knowledge, skills and concepts to familiar problems. Students develop and present conclusions using

appropriate texts, terms and concepts. They identify the effects of their decisions and the possible effects of alternative actions.

17



Year 8 Mathematics – How can we access money overseas?


Mathematics

► Strand Number and Algebra

Sub-strand Number and place value

Content Description

— Carry out the four operations with rational numbers and integers, using efficient mental and written strategies and appropriate digital technologies (ACMNA183)


Content Description

– Solve problems involving the use of percentages, including percentage

increases and decreases, with and without digital technologies

(ASMNA187)

– Solve problems involving profit and loss, with and without digital

technologies (ACMNA189)




– The ways markets operate in Australia and why they may be influenced by

government (ACHEK027)

– The traditional markets of Aboriginal and Torres Strait Islander communities

and their participation in contemporary markets (ACHEK028)




Year 8


Student Learnings

– Research, identify and discuss the rights and responsibilities of

consumers in a range of ‘real-life’ contexts

– Identify where to access reliable information and advice concerning the

rights and responsibilities of consumers and business



Student Learnings

– Determine and compare the actual cost of using different ways of paying

for goods and services



– Convert from one currency to another in ‘real-life’ contexts

– Explore the pros and cons of a range of payment options for goods and

services such as cash and debit

– Identify and explain marketing strategies used in advertising and social

media to influence consumer decision-making

18






and conduct an investigation or project(ACHES032)



► Strand Interpretation and analysis

Content Description



► Strand Economic reasoning, decision-making and application







► Strand Communication and reflection

Content Description


language and concepts in a range of appropriate formats, and reflect on the

consequences of alternative actions (ACHES037)


Student Learnings

– Explain how individual and collective consumer decisions may have an

impact on the broader community and/or the environment



– Recognise that people have different ways of living and expectations

according to their values and/or financial situation

– Recognise that their ability to make informed decisions about personal

finance and financial products is strengthened by finding and evaluating

relevant information and accessing reliable advice



decision-making.

19



This unit of work contributes to the bolded sections of the Achievement Standards in Mathematics and Economics and Business for Year 8.

Mathematics

By the end of Year 8, students solve everyday problems involving rates, ratios and percentages. They recognise index laws and apply them to whole

numbers. They describe rational and irrational numbers. Students solve problems involving profit and loss. They make connections between expanding

and factorising algebraic expressions. Students solve problems relating to the volume of prisms. They make sense of time duration in real applications.

They identify conditions for the congruence of triangles and deduce the properties of quadrilaterals. Students model authentic situations with two-way tables

and Venn diagrams. They choose appropriate language to describe events and experiments. They explain issues related to the collection of data and the

effect of outliers on means and medians in that data.

Students use efficient mental and written strategies to carry out the four operations with integers. They simplify a variety of algebraic expressions.

They solve linear equations and graph linear relationships on the Cartesian plane. Students convert between units of measurement for area and volume.

They perform calculations to determine perimeter and area of parallelograms, rhombuses and kites. They name the features of circles and calculate the

areas and circumferences of circles. Students determine complementary events and calculate the sum of probabilities.


By the end of Year 8, students explain how markets operate and recognise why governments may influence the market’s operation. They explain

the rights and responsibilities of consumers and businesses. They explain why different types of businesses exist and describe the different ways

businesses can respond to opportunities in the market. Students describe influences on the way people work, and factors that may affect work in the future.

When researching, students develop questions and gather relevant data and information from different sources to investigate an economic or

business issue. They interpret data to identify trends and relationships. They propose a range of alternative responses to an issue and evaluate the

costs and benefits of each alternative. They apply economics and business knowledge, skills and concepts to familiar and unfamiliar problems.

Students develop and present evidence-based conclusions using appropriate texts, subject-specific language and concepts. They identify the

effects of an economic or business decision and the potential consequences of alternative actions.

20



Year 8 Science – Light up the globe!

Australian Curriculum – Science, Economics and Business National Consumer and Financial Literacy Framework

Science

► Strand Science understanding

Sub-strand Physical sciences

Content Description

– Energy appears in different forms including movement (kinetic energy),

heat and potential energy, and causes change within systems

(ACSSU155)

► Strand Science inquiry skills

Sub-strand Planning and conducting


– In fair tests, measure and control variables, and select equipment to

collect data with accuracy appropriate to the task (ACSIS141)

– Summarise data from students’ own investigations and secondary

sources, and use scientific understanding to identify relationships and

draw conclusions (ACSIS145)

Sub-strand Processing and analysing data and information

Content Description

– Construct and use a range of representations including tables and

graphs, to represent and describe observations, patterns or relationships

in data using digital technologies as appropriate (ACSIS107)

(Note: the student learnings in the National Consumer and Financial Literacy

Framework are divided into, and are applicable over, bands covering two

chronological years.)

Year 8


Student Learnings



Student Learnings

– Use a range of methods and tools to keep financial records in ‘real-life

contexts’




Student Learnings



– Discuss the legal and ethical issues associated with advertising and

providing goods and services to consumers


and/or school activities such as student investigations, charity

fundraising, product design and development, business ventures and

special events

21





– Develop questions about an economic or business issue or event, and

plan and conduct an investigation or project (ACHES032)




Content Description



Sub-strand Economic Reasoning, decision making and application








Content Description


language and concepts in a range of appropriate formats, and reflect on

the consequences of alternative actions (ACHES037)

22



This unit of work contributes to the bolded sections of the Achievement Standards in Science and Economics and Business for Year 8.

Science

By the end of Year 8, students compare physical and chemical changes and use the particle model to explain and predict the properties and behaviours of

substances. They identify different forms of energy and describe how energy transfers and transformations cause change in simple systems. They

compare processes of rock formation, including the time scales involved. They analyse the relationship between structure and function at cell, organ and body

system levels. Students examine the different science knowledge used in occupations. They explain how evidence has led to an improved understanding of a

scientific idea and describe situations in which scientists collaborated to generate solutions to contemporary problems.

Students identify and construct questions and problems that they can investigate scientifically. They consider safety and ethics when planning investigations,

including designing field or experimental methods. They identify variables to be changed, measured and controlled. Students construct

representations of their data to reveal and analyse patterns and trends, and use these when justifying their conclusions. They explain how

modifications to methods could improve the quality of their data and apply their own scientific knowledge and investigation findings to evaluate claims made

by others. They use appropriate language and representations to communicate science ideas, methods and findings in a range of text types.


By the end of Year 8, students explain how markets operate and recognise why governments may influence the market’s operation. They explain

the rights and responsibilities of consumers and businesses. They explain why different types of businesses exist and describe the different ways

businesses can respond to opportunities in the market. Students describe influences on the way people work, and factors that may affect work in the future.

When researching, students develop questions and gather relevant data and information from different sources to investigate an economic or

business issue. They interpret data to identify trends and relationships. They propose a range of alternative responses to an issue and evaluate

the costs and benefits of each alternative. They apply economics and business knowledge, skills and concepts to familiar and unfamiliar

problems. Students develop and present evidence-based conclusions using appropriate texts, subject-specific language and concepts. They

identify the effects of an economic or business decision and the potential consequences of alternative actions.

Science

By the end of Year 8, students compare and classify different types of observable changes to materials. They analyse requirements for the transfer of

electricity and describe how energy can be transformed from one form to another to generate electricity. They explain how natural events cause rapid change

to the Earth’s surface. They describe and predict the effect of environmental changes on individual living things. Students explain how scientific knowledge

is used in decision making and identify contributions to the development of science by people from a range of cultures.

Students follow procedures to develop investigable questions and design investigations into simple cause-and-effect relationships. They identify

variables to be changed and measured and describe potential safety risks when planning methods. They collect, organise and interpret their data,

identifying where improvements to their methods or research could improve the data. They describe and analyse relationships in data using

graphic representations and construct multi-modal texts to communicate ideas, methods and findings.

23



By the end of Year 8, students recognise why choices about the allocation of resources involve trade-offs. They describe the effects of consumer and

financial decisions on themselves, others and the environment. Students identify the purpose of business and recognise the different ways that

businesses choose to provide goods and services.

When researching, students develop questions and gather and sort data and information from different sources to investigate an economic or

business issue. They identify the advantages and disadvantages of a proposed response to an issue and apply economics and business knowledge and

skills to everyday problems. Students present their findings using appropriate texts and economics and business terms and identify the possible

effects of their decisions.

24



Year 9 Mathematics – How can we obtain more money?


Mathematics

► Strand Number and Algebra


Content Description

– Solve problems involving direct proportion. Explore the relationship

between graphs and equations corresponding to simple rate problems

(ACMNA208)


Content Description

– Solve problems involving simple interest (ACMNA211)

Sub-strand Linear and non-linear relationships

Content Description

– Sketch linear graphs using the coordinates of two points and solve linear

equations (ACMNA215)


Content Description

– Identify everyday questions and issues involving at least one numerical and

at least one categorical variable, and collect data directly from secondary

sources (ACMSP228)

– Compare data displays using mean, median and range to describe and

interpret numerical data sets in terms of location (centre) and spread

(ACMSP283)




Year 10


Student Learnings

– Identify and explain strategies to manage personal finances

– Explain the different ways in which people are paid including wages,

salaries, commissions, self-employment and government benefits

– Explain the various factors that may impact on achieving personal

financial goals


– Identify types of consumer and financial risks to individuals, families and

the broader community, and ways of managing them


Student Learnings

– Analyse relevant information to make informed choices when

purchasing goods and services and/or to resolve consumer choices


Student Learnings



http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Rate

http://my.clic.det.nsw.edu.au/Curriculum/ContentDescription/ACMNA208



http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Categorical%20variable

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Data

http://my.clic.det.nsw.edu.au/Curriculum/ContentDescription/ACMSP228


http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Mean

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Median

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Numerical%20data


25





– Australia as an ‘economy’ and its place within the broader Asia and global

economy (ACHEK038)

– Why and how people manage financial risks and rewards in the current

Australian and global financial landscape (ACHEK040)

– How and why businesses seek to create and maintain a competitive

advantage in the global market (ACHEK041)

– The roles and responsibilities of participants in the changing Australian or

global workplace (ACHEK042)




– Develop questions and hypotheses about an economic or business issue or

event, and plan and conduct an investigation (ACHES043)

– Gather relevant and reliable data and information from a range of digital,

online and print sources (ACHES044)


Content Description

– Analyse data and information in different formats to explain cause and

effect relationships, make predictions and illustrate alternative perspectives

(ACHES045)

– Appreciate that there is often no one right answer in making financial

decisions because these depend on individual circumstances,

preferences and values

– Explain how, as financially active citizens, they fit into the economy and

society through:

– generating income and paying taxes

– saving

– spending

– donating

– investing

– Explain the role of banks and other deposit taking institutions (e.g. credit

unions, building societies) in collecting deposits, pooling savings and

lending them to individuals and business

– Demonstrate awareness that family and socio-cultural values and

customs can influence consumer behaviour and financial decisions

26




– Generate a range of viable options in response to an economic or business

issue or event, use cost-benefit analysis and appropriate criteria to

recommend and justify a course of action and predict the potential

consequences of the proposed action (ACHES046)

– Apply economics and business knowledge, skills and concepts in familiar,

new and hypothetical situations (ACHES047)



– Present reasoned arguments and evidence- based conclusions in a range

of appropriate formats using economics and business conventions,

language and concepts (ACHES048)

– Reflect on the intended and unintended consequences of economic and

business decisions (ACHES049)

27



This unit of work contributes to the bolded sections of the Achievement Standards in Mathematics, Economics and Business for Year 9.

Mathematics

By the end of Year 9, students solve problems involving simple interest. They interpret ratio and scale factors in similar figures. Students explain similarity of triangles. They recognise the connections between similarity and the trigonometric ratios. Students compare techniques for collecting data in primary and secondary sources. They make sense of the position of the mean and median in skewed, symmetric and bi-modal displays to describe and interpret data.

Students apply the index laws to numbers and express numbers in scientific notation. They expand binomial expressions. They find the distance between two

points on the Cartesian plane and the gradient and midpoint of a line segment. They sketch linear and non-linear relations. Students calculate areas of shapes

and the volume and surface area of right prisms and cylinders. They use Pythagoras’ Theorem and trigonometry to find unknown sides of right-angled triangles.

Students calculate relative frequencies to estimate probabilities, list outcomes for two-step experiments and assign probabilities for those outcomes. They

construct histograms and back-to-back stem-and-leaf plots.


By the end of Year 9, students explain the role of the Australian economy in allocating and distributing resources, and analyse the interdependence of

participants in the global economy. They explain the importance of managing financial risks and rewards and analyse the different strategies that may be used.

They explain why businesses seek to create a competitive advantage and evaluate the strategies that may be used. Students analyse the roles and

responsibilities of participants in the workplace.

When researching, students develop questions and simple hypotheses to frame an investigation of an economic or business issue. They gather and

analyse relevant data and information from different sources to answer questions, identify trends and explain relationships. Students generate alternative

responses to an issue and use cost-benefit analysis and appropriate criteria to propose a course of action. They apply economics and business

knowledge, skills and concepts to familiar, unfamiliar and hypothetical problems. Students develop and present evidence-based conclusions and

reasoned arguments using appropriate texts, subject-specific language and concepts. They analyse the effects of economic and business decisions

and the potential consequences of alternative actions.

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Simple%20interest

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Ratio

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Similar

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Similarity


http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Trigonometric%20ratios


http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Mean

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Median


http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Index

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Scientific%20notation

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Gradient

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Midpoint

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Volume

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Pythagoras%E2%80%99%20theorem

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Frequencies

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Estimate

28



Year 9 English – Could I live smaller?

Australian Curriculum – English, Economics and Business National Consumer and Financial Literacy Framework

English

► Strand Literacy

Sub-strand Interpreting, analysing, evaluating

Content Description

– Interpret, analyse and evaluate how different perspectives of issue, event,

situation, individuals or groups are constructed to serve specific purposes

in texts (ACELY1742)

– Explore and explain the combinations of language and visual choices that

authors make to present information, opinions and perspectives in

different texts (ACELY1745)

Sub-strand Interacting with others

Content Description

– Plan, rehearse and deliver presentations, selecting and sequencing

appropriate content and multimodal elements for aesthetic and playful

purposes (ACELY1741)

Sub-strand Creating texts

Content Description

– Create imaginative, informative and persuasive texts that present a point

of view and advance or illustrate arguments, including texts that integrate

visual, print and/or audio features (ACELY1746)




Year 10


Student Learnings

– Discuss and compare different sources of consumer and financial

advice


Student Learnings

– Compare overall 'value' of a range of goods and services using IT tools

and comparison websites as appropriate

– Evaluate marketing claims, for example in advertising and social media,

to influence consumers to purchase a range of goods and services


Student Learnings

– Research and identify ethical and moral dimensions of consumer

choices in specific circumstances and the consequences to themselves,

their families, the broader community and/or the environment

– Explore the economic cost of individual and collective consumer

decisions on the broader community and the environment.




29





– Australia as an ‘economy’ and its place within the broader Asia and global

economy (ACHEK038)

– Why and how participants in the global economy are dependent on each

other (ACHEK039)

– Why and how people manage financial risks and rewards in the current

Australian and global financial landscape (ACHEK040)

– How and why businesses seek to create and maintain a competitive

advantage in the global market (ACHEK041)






– Interpretation and analysis


effect relationships, make predictions and illustrate alternative

perspectives (ACHES045)



– Generate a range of viable options in response to an economic or

business issue or event, use cost-benefit analysis and appropriate criteria

to recommend and justify a course of action and predict the potential


– Demonstrate awareness that family and socio-cultural values and

customs can influence consumer behaviour and financial decisions

30











31



This unit of work contributes to the bolded sections of the Achievement Standards in English and Economics and Business for Year 9.

English

Receptive modes (listening, reading and viewing)

By the end of Year 9, students analyse the ways that text structures can be manipulated for effect. They analyse and explain how images, vocabulary choices and language features distinguish the work of individual authors.

They evaluate and integrate ideas and information from texts to form their own interpretations. They select evidence from the text to analyse and explain how language choices and conventions are used to influence an audience. They listen for ways texts position an audience.

Productive modes (speaking, writing and creating)

Students understand how to use a variety of language features to create different levels of meaning. They understand how interpretations can vary by comparing their responses to texts to the responses of others. In creating texts, students demonstrate how manipulating language features and images can create innovative texts.

Students create texts that respond to issues, interpreting and integrating ideas from other texts. They make presentations and contribute actively to class

and group discussions, comparing and evaluating responses to ideas and issues. They edit for effect, selecting vocabulary and grammar that contribute to

the precision and persuasiveness of texts and using accurate spelling and punctuation.


By the end of Year 9, students explain the role of the Australian economy in allocating and distributing resources, and analyse the interdependence of

participants in the global economy. They explain the importance of managing financial risks and rewards and analyse the different strategies that may

be used. They explain why businesses seek to create a competitive advantage and evaluate the strategies that may be used. Students analyse the roles and

responsibilities of participants in the workplace.

When researching, students develop questions and simple hypotheses to frame an investigation of an economic or business issue. They gather and

analyse relevant data and information from different sources to answer questions, identify trends and explain relationships. Students generate alternative

responses to an issue and use cost-benefit analysis and appropriate criteria to propose a course of action. They apply economics and business knowledge,

skills and concepts to familiar, unfamiliar and hypothetical problems. Students develop and present evidence-based conclusions and reasoned

arguments using appropriate texts, subject-specific language and concepts. They analyse the effects of economic and business decisions and the

potential consequences of alternative actions.

32



Year 10 Mathematics – Reaching goals: What's involved?


Mathematics

► Strand Number and algebra


Content Description

– Connect the compound interest formula to repeated applications of simple

interest using appropriate digital technologies (ACMNA229)

Sub-strand Patterns and algebra

Content Description

– Substitute values into formulas to determine an unknown (ACMNA234)

► Strand Statistics and probability


Content Description

– Investigate and describe bivariate numerical data where the independent

variable is time (ACMSP252)




– Indicators of economic performance and how Australia’s economy is

performing (ACHEK050)

– Factors that influence major consumer and financial decisions and the

short- and long- term consequences of these decisions (ACHEK053)




Year 10


Student Leanings

– Identify and explain strategies to manage personal finances


financial goals

– Explain how over-reliance on credit can impact on future choices


– Identify types of consumer and financial risks to individuals, families and

the broader community, and ways of managing them.


Student Learnings

– Investigate the financial decisions required at significant life stage

events

– Discuss the differences between ‘good’ and ‘bad’ debt, including

manageability of debt and its long-term impact

– Analyse relevant information to make informed choices when

purchasing goods and services and/ or to resolve consumer choices

http://my.clic.det.nsw.edu.au/Glossary?a=M&t=Compound%20interest

http://my.clic.det.nsw.edu.au/Glossary?a=M&t=Simple%20interest

http://my.clic.det.nsw.edu.au/Glossary?a=M&t=Simple%20interest

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Bivariate%20numerical%20data

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Independent%20variable



33


► Strand Knowledge



– Develop questions and hypotheses about an economic or business issue or

event, and plan and conduct an investigation (ACHES055)




Content Description


effect relationships, make predictions and illustrate alternative perspectives

(ACHES057)



– Generate a range of viable options in response to an economic or business

issue or event, use cost-benefit analysis and appropriate criteria to

recommend and justify a course of action and predict the potential












Student Learnings






– Understand and explain the legal responsibilities of taking on debt,

including the consequences of not paying off the debt

34



This unit of work contributes to the bolded sections of the Achievement Standards in Mathematics, Economics and Business for Year 10.

Mathematics

By the end of Year 10, students recognise the connection between simple and compound interest. They solve problems involving linear equations and

inequalities. They make the connections between algebraic and graphical representations of relations. Students solve surface area and volume problems relating

to composite solids. They recognise the relationships between parallel and perpendicular lines. Students apply deductive reasoning to proofs and numerical

exercises involving plane shapes. They compare data sets by referring to the shapes of the various data displays. They describe bivariate data where the

independent variable is time. Students describe statistical relationships between two continuous variables. They evaluate statistical reports.

Students expand binomial expressions and factorise monic quadratic expressions. They find unknown values after substitution into formulas. They perform

the four operations with simple algebraic fractions. Students solve simple quadratic equations and pairs of simultaneous equations. They use triangle and angle

properties to prove congruence and similarity. Students use trigonometry to calculate unknown angles in right-angled triangles. Students list outcomes for multi-

step chance experiments and assign probabilities for these experiments. They calculate quartiles and inter-quartile ranges.


By the end of Year 10, students explain why and how governments manage economic performance to improve living standards. They provide explanations for

variations in economic performance and standards of living within and between economies. They analyse factors that influence major consumer and

financial decisions and explain the short- and long-term effects of these decisions. They explain how businesses improve productivity and respond to

changing economic conditions. Students evaluate the effect of workforce management on business performance.

When researching, students develop questions and formulate hypotheses to frame an investigation of an economic or business issue or event. They

gather and analyse reliable data and information from different sources to identify trends, explain relationships and make predictions. Students generate

alternative responses to an issue taking into account multiple perspectives. They use cost-benefit analysis and appropriate criteria to propose and justify a course

of action. They apply economics and business knowledge, skills and concepts to familiar, unfamiliar and complex hypothetical problems. Students

develop and present evidence-based conclusions and reasoned arguments incorporating different points of view. They use appropriate texts and subject-

specific language, conventions and concepts. They analyse the intended and unintended effects of economic and business decisions and the potential

consequences of alternative actions.

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Compound%20interest

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Volume



http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Bivariate%20data


http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Factorise

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Monic

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Angle

http://my.clic.det.nsw.edu.au/Glossary?a=bab552e6-1437-4684-8c54-9e4600a2533d&t=Congruence


35



Year 10 English – Teens talk money

Australian Curriculum – English, Economics and Business National Consumer and Financial Literacy Framework

English

► Strand Literacy

Sub-strand Creating literature

Content Description

– Create imaginative texts that make relevant thematic and inter-textual

connections with other texts (ACELT1644)

Sub-strand Interacting with others


– Identify and explore the purposes and effects of different text structures

and language features of spoken texts, and use this knowledge to create

purposeful texts that inform, persuade and engage (ACELY1750)

– Plan, rehearse and deliver presentations, selecting and sequencing

appropriate content and multimodal elements to influence a course of

action (ACELY1751)

Sub-strand Creating texts


– Create sustained texts, including texts that combine specific digital or

media content, for imaginative, informative, or persuasive purposes that

reflect upon challenging and complex issues (ACELY1756)

– Review, edit and refine students’ own and others’ texts for control of

content, organisation, sentence structure, vocabulary, and/or visual

features to achieve particular purposes and effects (ACELY1757)

Note: the student learnings in the National Consumer and Financial Literacy

Framework are divided into, and are applicable over, bands covering two

chronological years.)

Year 10


Student Leanings

– Explain the different ways in which people are paid including wages,

salaries, commissions, self-employment and government benefits

– Identify and explain common terminology and categories for deductions

used on pay slips


financial goals


Student Learnings

– Evaluate the range of payment options for goods and services such as:

cash, debit card, credit card, direct debit, PayPal, BPay, prepay options,

phone and electronic funds transfer across a variety of 'real-life' contexts

– Analyse relevant information to make informed choices when purchasing

goods and services and/or to resolve consumer choices


Student Learnings


and/or school activities such as student investigations, charity fundraising,

product design and development, business ventures and special events

36


Sub-strand Language for interaction

Content Description

– Understand that people’s evaluations of texts are influenced by their value

systems, the context and the purpose and mode of communication

(ACELA1565)


► Strand Economics and Business Knowledge and Understanding


– The ways that governments manage the economy to improve economic

performance and living standards (ACHEK052)

– Factors that influence major consumer and financial decisions and the

short- and long- term consequences of these decisions (ACHEK053)

– The ways businesses organise themselves to improve productivity,

including the ways they manage their workforce, and how they respond to

changing economic conditions (ACHEK054)




– Develop questions and hypotheses about an economic or business issue

or event, and plan and conduct an investigation (ACHES055)




Content Description


effect relationships, make predictions and illustrate alternative

perspectives (ACHES057)

37




– Generate a range of viable options in response to an economic or

business issue or event, use cost-benefit analysis and appropriate criteria

to recommend and justify a course of action and predict the potential











38



This unit of work contributes to the bolded sections in the following Achievement Standards in English and Economics and Business for Year 10:

English

Receptive modes (listening, reading and viewing)

By the end of Year 10, students evaluate how text structures can be used in innovative ways by different authors. They explain how the choice of language

features, images and vocabulary contributes to the development of individual style.

They develop and justify their own interpretations of texts. They evaluate other interpretations, analysing the evidence used to support them. They listen for

ways features within texts can be manipulated to achieve particular effects.

Productive modes (speaking, writing and creating)

Students show how the selection of language features can achieve precision and stylistic effect. They explain different viewpoints, attitudes and

perspectives through the development of cohesive and logical arguments. They develop their own style by experimenting with language features,

stylistic devices, text structures and images.

Students create a wide range of texts to articulate complex ideas. They make presentations and contribute actively to class and group discussions,

building on others' ideas, solving problems, justifying opinions and developing and expanding arguments. They demonstrate understanding of grammar, vary

vocabulary choices for impact, and accurately use spelling and punctuation when creating and editing texts.


By the end of Year 10, students explain why and how governments manage economic performance to improve living standards. They provide explanations for

variations in economic performance and standards of living within and between economies. They analyse factors that influence major consumer and

financial decisions and explain the short- and long-term effects of these decisions. They explain how businesses improve productivity and respond

to changing economic conditions. Students evaluate the effect of workforce management on business performance.

When researching, students develop questions and formulate hypotheses to frame an investigation of an economic or business issue or event. They

gather and analyse reliable data and information from different sources to identify trends, explain relationships and make predictions. Students generate

alternative responses to an issue taking into account multiple perspectives. They use cost-benefit analysis and appropriate criteria to propose and justify a

course of action. They apply economics and business knowledge, skills and concepts to familiar, unfamiliar and complex hypothetical problems.

Students develop and present evidence-based conclusions and reasoned arguments incorporating different points of view. They use appropriate

texts and subject-specific language, conventions and concepts. They analyse the intended and unintended effects of economic and business

decisions and the potential consequences of alternative actions.

39

Australian Curriculum: Economics and Business

Economics and Business (Reference ACARA | The Australian Curriculum | Version 6.0 dated Tuesday, 18 February 2014)

Organisation

The Australian Curriculum: Economics and Business is organised in two related strands: Economics and Business Knowledge and Understanding,

and Economics and Business Skills.

In both these strands, the study of economics and business issues, events and business case studies form an integral component of the curriculum. A focus on

contemporary issues, events and business case studies stimulates student interest and curiosity. The content is intended to be taught through a relevant

context, which will help students make the connections between what they are learning in class and events or issues that are happening in their local area,

Australia and the world.

Both strands also focus on developing enterprising behaviours and capabilities. Through the study of economics and business, students will develop their

understanding of the importance and role of enterprising behaviours and capabilities at an individual and business level. They will also be encouraged to

develop the capabilities that will enable them to actively participate in the economy, now and in the future.

Enterprising behaviours and capabilities refer to the suite of skills, attributes and behaviours that allow individuals to engage in and contribute to the economic

wellbeing of society. Broadly, they encourage students to be adaptable, demonstrate initiative, solve problems and take on leadership roles in all aspects of life.

In a constantly changing world, enterprising behaviours and capabilities provide individuals with the necessary skills to manage change. Students develop and

practise skills and attributes in the context of economics and business including accepting challenges, showing initiative, accepting responsibility, developing

economic and business vocabulary, working sustainably, being socially responsible, setting goals, and negotiating solutions; and using associated behaviours

such as working with others, planning and organising, reflecting and reviewing performance, analysing economic and business issues, taking opportunities and

making decisions.

Economics and Business Knowledge and Understanding

Economics and business knowledge refers to the facts, principles, theories and models developed in Economics and Business. Economics and business

understanding is the ability to see the relationships between concepts and the interdependence of sectors of the economy.

The Economics and Business Knowledge and Understanding strand comprises four key organising ideas: resource allocation and making choices; the business

environment; consumer and financial literacy; and work and work futures.

Resource allocation and making choices focuses on the process of using available, limited resources for competing alternative uses that satisfy society’s

unlimited needs. As every need and want cannot be satisfied with available resources, choices must be made about how resources are allocated most

effectively, based on the actions of consumers, producers and governments.

The business environment examines the ways businesses operate at many levels, and the ways they respond to opportunities and changing circumstances and

conditions. As businesses operate in markets, the decisions they make have social, economic and environmental consequences.

40


Consumer and financial literacy explores the role of making responsible and informed decisions about consumer issues and managing money and assets, and

how these decisions affect the individual’s and the community’s quality of life, sense of security and awareness of future options.

Work and work futures focuses on work and the work environment and the contribution of work to individual and collective wellbeing. It explores the factors that

influence the work environment now and into the future and the rights and responsibilities of participants in the work environment.


The Economics and Business Skills strand focuses on the skills of questioning and research; interpretation and analysis; economic reasoning, decision-making

and application; and communication and reflection.

Questioning and research involves students asking questions about a contemporary issue or event and planning and conducting investigations. Students gather

information and data from a range of sources to investigate the issue or event.

Interpretation and analysis engages students in transforming and critically examining information and data and accounting for different perspectives.

Economic reasoning, decision-making and application involves students making informed decisions using economic reasoning and applying economics and

business knowledge, skills and concepts to familiar and new situations.

In Communication and reflection students present findings, arguments and evidence-based conclusions using subject-specific language, concepts and

conventions and reflect on the intended and unintended consequences of decisions.

Economics and Business Skills are described in bands of schooling at two-year intervals.

Relationship between the strands

The two strands are integral to the development of a teaching and learning program. The Economics and Business Knowledge and Understanding strand

provides the content focus through which particular skills are to be developed. It is developed year by year. The sequencing and description of the Economics

and Business Skills in two-year bands (5–6, 7–8, 9–10) may help in multi-age programming by providing a common skills focus for the teaching and learning of

the knowledge and understanding content.

Contemporary economic and/or business events, issues and case studies are used to provide the context for learning knowledge and understanding and the

development of skills.

Year-level descriptions

Year-level descriptions provide an overview of the content that is being studied at each year level. The descriptions identify the key economics and business

concepts that are to be the focus for teaching and articulate how students’ economics and business knowledge, understanding and skills will be developed.

They also emphasise the interrelated nature of the two strands and the expectation that planning will involve integration of content from across the strands.

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Key questions

Each year level includes key questions which provide a guiding framework for developing students’ economics and business knowledge, understanding and

skills of inquiry.

Content descriptions

The Years 5–10 Australian Curriculum: Economics and Business includes content descriptions at each year level. These set out the knowledge, understanding

and skills that teachers are expected to teach and students are expected to learn. However, they do not prescribe approaches to teaching. The content

descriptions have been written to ensure that learning is appropriately ordered. Economics and business concepts and skills are introduced early in the

curriculum; their complexity increases as students move through the year levels.

years 7 to 10 moneysmart teaching units of work · years 7 to 10 moneysmart teaching units of work...

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