Draft Australian Curriculum: Economics and Business content links

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Economics and Business Strands

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Draft Australian Curriculum:

Economics and Business content links

Years 7 to 10

MoneySmart Teaching

Units of Work

TABLE OF CONTENTS

Economics and Business Strands 3

Economics and Business 7

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

Year 7 Science – Should I drink bottled water? 15

Year 8 Mathematics – How can we access money overseas? 18

Year 8 Science – Light up the globe! 22

Year 9 Mathematics – How can we obtain more money? 26

Year 9 English – Could I live smaller? 30

Year 10 Mathematics – Reaching goals: What's involved? 34

Year 10 English – Teens talk money 38

Organisation 42

Economics and Business Knowledge and Understanding 42

Economics and Business Skills 43

Relationship between the strands 43

Year-level descriptions 43

Key questions 44

Content descriptions 44

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.

Economics and Business Strands		MoneySmart Teaching Secondary Units
Economics and Business Knowledge and Understanding	Economics and Business Skills	MoneySmart Teaching Secondary Units
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

Knowledge and Understanding: Scope and Sequence: Years 7 – 10
(Reference pp 46-47 Australian Curriculum: Economics and Business)

Key inquiry questions	Year 7	Year 8	Year 9	Year 10
Key inquiry questions	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?
Content Descriptions	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.
	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.

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.

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