Years 9–10 band plan — Australian Curriculum: Economics and Business



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Years 9–10 band plan — Australian Curriculum: Economics and Business





a.Implementation year: School name:


This band plan has been developed in consultation with the Curriculum into the Classroom project team.

Identify curriculum

Humanities and social sciences learning area

Humanities and social sciences is the study of human behaviour and interaction in social, cultural, environmental, economic, and political contexts. Humanities and social sciences have a historical and contemporary focus, from personal to global contexts, and consider challenges for the future.

In the Australian Curriculum, the humanities and social sciences learning area comprises four subjects: history, geography, economics and business, and civics and citizenship. Each subject has been conceptualised in ways appropriate for that subject area:



  • history focuses on evidence, change and continuity, cause and effect, significance, empathy, perspectives, and contestability

  • geography focuses on place, space, environment, interconnection, sustainability, scale, and change

  • civics and citizenship focuses on government and democracy, law and citizens, and citizenship, diversity and identity

  • economics and business focuses on resource allocation and making choices, the business environment, consumer and financial literacy, work and work futures.

Through studying humanities and social sciences, students will develop the ability to question, think critically, solve problems, communicate effectively, make decisions and adapt to change. Thinking about and responding to issues requires an understanding of the key historical, geographical, political, economic, and societal factors involved, and how these different factors interrelate.

The humanities and social science subjects provide a broad understanding of the world in which we live, and how people can participate as active and informed citizens with high-level skills needed for the 21st century.



Phase curriculum focus1

Year 7–10 curriculum focus

During these years, students begin to see themselves as active members in community, business and economic life, and are often concerned about and further develop their awareness of local, national, regional and global social and environmental issues.

Specific economics and business skills in Years 7–10 emphasise interpretation and analysis of economic and business data and/or information, economic reasoning and decision making, the application of concepts to new situations, drawing conclusions based on evidence, the communication of these conclusions in different formats, and reflecting on the consequences of economic and business decisions.

Year 9 and 10

In each of these years, students are expected to be taught the content through contemporary issues, events and/or case studies. Teachers will design programs that cover different contexts (personal, local, national, regional, global), and meet the needs and requirements of their students.

In Years 9 and 10, students build on their understanding of the ways decisions are made about the allocation of resources by considering the Australian economy, its place in the broader global economy and the interdependence of participants in the global economy. They explore reasons for variations in the performance of economies and investigate the role of governments in managing economic performance to improve living standards. They explore how businesses respond to changing economic conditions and consider different strategies that can be used by consumers, businesses and governments to improve economic, business and financial outcomes. They learn about the roles and responsibilities of participants in the workplace, including the way that businesses can manage their workforce to improve productivity.


Year-level descriptions1

Year 9

In Year 9, students are expected to be taught the content through contemporary issues, events and/or case studies. Teachers will design programs that cover different contexts (personal, local, national, regional, global), and meet the needs and requirements of their students.

The Year 9 curriculum gives students the opportunity to further develop their understanding of economics and business concepts by exploring the interactions within the global economy. Students are introduced to the concept of an ‘economy’ and explore what it means for Australia to be part of the Asia region and the global economy. They consider the interdependence of participants in the global economy, including the implications of decisions made by individuals, businesses and governments. The responsibilities of participants operating in a global workplace are also considered.

The economics and business content at this year level involves two strands: Economics and business knowledge and understanding, and Economics and business skills. These strands are interrelated and should be taught in an integrated way; they may be integrated across learning areas and in ways that are appropriate to specific local contexts. The order and detail in which they are taught are programming decisions.

A framework for developing students’ economics and business knowledge, understanding and skills at this year level is provided by the following key questions:


  • 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?

Identify curriculum

Year-level descriptions2

Year 10

In Year 10, students are expected to be taught the content through contemporary issues, events and/or case studies. Teachers will design programs that cover different contexts (personal, local, national, regional, global), and meet the needs and requirements of their students.

The Year 10 curriculum gives students the opportunity to further develop their understanding of economics and business concepts by considering Australia’s economic performance and standard of living. The ways governments manage the economy to improve living standards is explored, along with the reasons why economic performance and living standards differ within and between economies. Students explore the nature of externalities and why the government intervenes to ensure that prices reflect the depletion of resources or costs to society. Students examine the consequences of decisions and the responses of business to changing economic conditions, including the way they manage their workforce.

The economics and business content at this year level involves two strands: Economics and business knowledge and understanding, and Economics and business skills. These strands are interrelated and should be taught in an integrated way; they may be integrated across learning areas and in ways that are appropriate to specific local contexts. The order and detail in which they are taught are programming decisions.

A framework for developing students’ economics and business knowledge, understanding and skills at this year level is provided by the following key questions:

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?


Achievement standards2

Year 9

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.

Year 10

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.


Course organisation2

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.

The band plan for economics and business is organised to:

provide flexibility when making decisions about how the subject will be implemented, based on the local context and needs of students in schools

align with the Australian Curriculum: Economics and Business, which is organised in year levels for the achievement standard and for knowledge and understanding content descriptions, and in bands that span two years for skills content descriptions

provide a course structure and content that includes a sequence of teaching and learning and identification of opportunities for assessment and feedback, organised in units according to year levels, and developed using the Australian Curriculum: Economics and Business content descriptions and achievement standards.

The band plan course organisation allows schools to implement the Australian Curriculum: Economics and Business:

in a term

in a semester

in only one year of a two-year band (not in every year from Years 5 to 8)

as an elective stand-alone subject in Years 9 and 10 (which may involve additional school-based content).



Teaching and learning

Unit overview

Unit 1 — Managing financial responsibilities, risks and rewards 3

Unit 2 — Competing as a business in the global economy3

Unit 3 — Managing economic performance and standard of living4

Unit 4 — Improving business productivity4

Time allocation

Unit 1: 50% of total teaching time

Unit 2: 50% of total teaching time


Key questions

  • What strategies can be used to manage financial risks and rewards?

  • What are the responsibilities of participants in the workplace and why are these important?

In this unit, students will develop and apply enterprising behaviours and capabilities, and knowledge, understanding and skills of inquiry, to investigate a familiar, unfamiliar and/or hypothetical personal, local or national economics or business issue (for example, exploring strategies for mitigating financial risks associated with online banking and/or shopping; determining how to manage over-indebtedness using cost-benefit analysis and appropriate criteria to recommend and justify a course of action; exploring investment risk and financial scams and strategies as a component of financial management for personal and business contexts).

The economics or business issue investigated will enable students to explain why and how people manage financial risks and rewards in the current Australian and global financial landscape, and examine the roles and responsibilities of participants in the changing Australian or global workplace.



Key questions

  • How do participants in the global economy interact?

  • How does creating a competitive advantage benefit business?

In this unit, students will develop and apply enterprising behaviours and capabilities, and knowledge, understanding and skills of inquiry, to investigate a familiar, unfamiliar and/or hypothetical national, regional or global economics or business issue (for example, exploring why it is increasingly important for businesses to seek a competitive advantage in the global economy; or examining the role of TNCs in strategies of national competitiveness; or hypothesising why the export of locally-made products will greatly benefit the local community).

The economics or business issue investigated will enable students to explain the role of the Australian economy in allocating and distributing resources within the broader Asia and global economy, analyse why and how participants in the global community are dependent on each other and explain why and how businesses seek to create and maintain a competitive advantage in the global market.



Key questions

  • 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?

In this unit, students will develop and apply enterprising behaviours and capabilities, and knowledge, understanding and skills or inquiry, to investigate a familiar, new and complex hypothetical national, regional or global economics or business problem (for example, using economic data and information for a hypothetical developing country to devise a five-year plan with strategies governments could use to manage the economy and improve living standards).

The economics and business issue will enable students to explain economic performance indicators and relate their understanding to Australia’s performance, explain the ways that governments manage the economy to improve economic performance and living standards, and explain reasons for links that exist between economic performance and living standard, the variations that exist within and between economies, and the possible causes.



Key question

How do governments, businesses and individuals respond to changing economic conditions?

In this unit, students will develop and apply enterprising behaviours and capabilities, and knowledge, understanding and skills or inquiry, to investigate a familiar, new and complex hypothetical national, regional or global economics or business problem (for example, exploring how governments, businesses and individuals respond to changing economic conditions, such as rise of Asia, ageing of population and increasing demand for health and social services, rapidly advancing technology, shift to a clean energy economy as a result of climate change.)

The economics and business issue will enable students to analyse the factors that influence major consumer and financial decisions and the short- and long-term consequences of these decisions; and explain the ways businesses organise themselves to improve productivity, including the ways they manage their workforce and how they respond to changing economic conditions.



General capabilities and cross-curriculum priorities

Opportunities to engage with:

description: description: description: description: gc_literacydescription: description: description: description: gc_numeracydescription: description: description: description: gc_ictdescription: description: description: description: gc_criticaldescription: description: description: description: gc_personal_socialdescription: description: description: description: gc_ethicaldescription: description: description: description: gc_interculturaldescription: description: description: cc_asia

Opportunities to engage with:

description: description: description: description: gc_literacydescription: description: description: description: gc_numeracydescription: description: description: description: gc_ictdescription: description: description: description: gc_criticaldescription: description: description: description: gc_personal_socialdescription: description: description: description: gc_ethicaldescription: description: description: description: gc_interculturaldescription: description: description: cc_asia

Opportunities to engage with:

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Opportunities to engage with:

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Key

description: description: description: description: gc_literacy Literacy  description: description: description: description: gc_numeracy Numeracy  description: description: description: description: gc_ict ICT capability  description: description: description: description: gc_critical Critical and creative thinking  description: description: description: description: gc_personal_social Personal and social capability  description: description: description: description: gc_ethical  Ethical understanding  description: description: description: description: gc_intercultural  Intercultural understanding

 Aboriginal and Torres Strait Islander histories and cultures  description: description: description: cc_asia Asia and Australia’s engagement with Asia  description: description: description: cc_sust Sustainability

Develop assessment

Assessment

Students should contribute to an individual assessment folio that provides evidence of their learning and represents their achievements over the year. The folio should include a range and balance of assessments for teachers to make valid judgments about whether the student has met the achievement standard.

Unit 1 — Managing financial responsibilities, risks and rewards5

Unit 2 — Competing as a business in the global economy5

Unit 3 — Managing economic performance and standard of living6

Unit 4 — Improving business productivity6

Assessment may gather evidence of the student’s ability to:

  • investigate and communicate an informed decision in response to a familiar, unfamiliar and/or hypothetical personal, local or national economics or business issue, explain the importance of managing financial risks and rewards, and analyse the different strategies that may be used

  • analyse the roles and responsibilities of participants in the workplace

  • develop questions and simple hypotheses to frame an investigation of an economic or business issue

  • gather and analyse relevant data and information from different sources to answer questions, identify trends and explain relationships

  • generate alternative responses to an issue and use cost-benefit analysis and appropriate criteria to propose a course of action

  • apply economics and business knowledge, skills and concepts to familiar, unfamiliar and hypothetical problems

  • analyse the effects of economic and business decisions and the potential consequences of alternative actions

develop and present evidence-based conclusions and reasoned arguments using appropriate texts, subject-specific language and concepts.

Assessment may gather evidence of the student’s ability to:

  • investigate and communicate an informed decision in response to a familiar, unfamiliar and/or hypothetical national, regional or global economics or business issue

  • explain the role of the Australian economy in allocating and distributing resources

  • analyse the interdependence of participants in the global economy

  • explain why businesses seek to create a competitive advantage and evaluate the strategies that may be used

  • develop questions and simple hypotheses to frame an investigation of an economic or business issue

  • gather and analyse relevant data and information from different sources to answer questions, identify trends and explain relationships

  • generate alternative responses to an issue and use cost-benefit analysis and appropriate criteria to propose a course of action

  • apply economics and business knowledge, skills and concepts to familiar, unfamiliar and hypothetical problems

  • analyse the effects of economic and business decisions and the potential consequences of alternative actions

develop and present evidence-based conclusions and reasoned arguments using appropriate texts, subject-specific language and concepts

Assessment may gather evidence of the student’s ability to:

  • investigate and communicate an informed decision in response to a familiar, new and complex hypothetical national, regional or global economics or business problem, explain why and how governments manage economic performance to improve living standards

  • provide explanations for variations in economic performance and standards of living within and between economies

  • develop questions and formulate hypotheses to frame an investigation of an economic or business issue or event

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

  • generate alternative responses to an issue taking into account multiple perspectives

  • use cost-benefit analysis and appropriate criteria to propose and justify a course of action

  • apply economics and business knowledge, skills and concepts to familiar, unfamiliar and complex hypothetical problems

  • develop and present evidence-based conclusions and reasoned arguments incorporating different points of view

  • use appropriate texts and subject-specific language, conventions and concepts

analyse the intended and unintended effects of economic and business decisions and the potential consequences of alternative actions.

Assessment may gather evidence of the student’s ability to:

  • investigate and communicate an informed decision in response to a familiar, new and complex hypothetical community or national economics or business problem

  • analyse factors that influence major consumer and financial decisions and explain the short- and long-term effects of these decisions

  • explain how businesses improve productivity and respond to changing economic conditions

  • evaluate the effect of workforce management on business performance

  • develop questions and formulate hypotheses to frame an investigation of an economic or business issue or event

  • generate alternative responses to an issue, taking into account multiple perspectives

  • use cost-benefit analysis and appropriate criteria to propose and justify a course of action

  • apply economics and business knowledge, skills and concepts to familiar, unfamiliar and complex hypothetical problems

  • develop and present evidence-based conclusions and reasoned arguments incorporating different points of view

  • use appropriate texts and subject-specific language, conventions and concepts

analyse the intended and unintended effects of economic and business decisions and the potential consequences of alternative actions.

Making judgments

and feedback



Consistency of teacher judgments

Identify opportunities to moderate samples of student work at a school or cluster level to reach consensus and consistency.

Identify opportunities to moderate samples of student work at a school or cluster level to reach consensus and consistency.



a.Content descriptions for Years 9–10 Economics and Business


Review for balance and coverage of content descriptions, including emphasis on concepts for economics and business understanding

Concepts7

Knowledge and understanding

1

2

3

4

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.



Australia as an ‘economy’ and its place within the broader Asia and global economy (ACHEK038) [Year 9]












Why and how participants in the global economy are dependent on each other (ACHEK039) [Year 9]












Indicators of economic performance and how Australia’s economy is performing (ACHEK050) [Year 10]












The links between economic performance and living standards, the variations that exist within and between economies, and the possible causes (ACHEK051) [Year 10]












The ways that governments manage the economy to improve economic performance and living standards (ACHEK052) [Year 10]












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.



Why and how people manage financial risks and rewards in the current Australian and global financial landscape (ACHEK040) [Year 9]












Factors that influence major consumer and financial decisions and the short- and long-term consequences of these decisions (ACHEK053) [Year 10]












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 the markets, the decisions they make have social, economic and environmental consequences.



How and why businesses seek to create and maintain a competitive advantage in the global market (ACHEK041) [Year 9]












The ways businesses organise themselves to improve productivity, including the ways they manage their workforce, and how they respond to changing economic conditions (ACHEK054) [Year 10]












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 roles and responsibilities of participants in the changing Australian or global workplace (ACHEK042) [Year 9]














Economics and business skills

1

2

3

4

Questioning and research

Develop questions and hypotheses about an economic or business issue or event, and plan and conduct an investigation (ACHES043) (ACHES055) [Year 9 and 10]









Gather relevant and reliable data and information from a range of digital, online and print sources (ACHES044) (ACHES056) [Year 9 and 10]









Interpretation and analysis

Analyse data and information in different formats to explain cause and effect relationships, make predictions and illustrate alternative perspectives (ACHES045) (ACHES057) [Year 9 and 10]









Economic reasoning, decision making and application

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) (ACHES058) [Year 9 and 10]









Apply economics and business knowledge, skills and concepts in familiar, new and hypothetical situations (ACHES047) (ACHES059) [Year 9 and 10]









Communication and reflection

Present reasoned arguments and evidence-based conclusions in a range of appropriate formats using economics and business conventions, language and concepts (ACHES048) (ACHES060) [Year 9 and 10]









Reflect on the intended and unintended consequences of economic and business decisions (ACHES049) (ACHES061) [Year 9 and 10]














1 Source: Australian Curriculum, Assessment and Reporting Authority (ACARA), Australian Curriculum v6.0: Economics and Business, www.australiancurriculum.edu.au/humanitiesandsocialsciences/economicsandbusiness/Curriculum/5-10

2 Source: Australian Curriculum, Assessment and Reporting Authority (ACARA), Australian Curriculum v6.0: Economics and Business, www.australiancurriculum.edu.au/humanitiesandsocialsciences/economicsandbusiness/Curriculum/5-10

3 Units 1 and 2 developed using the Australian Curriculum: Economics and Business Year 9 content descriptions and achievement standard.

4 Units 3 and 4 developed using the Australian Curriculum: Economics and Business Year 10 content descriptions and achievement standard.

5 Unit 1 and 2 assessment provides evidence of student learning and provides opportunities for teachers to make judgments about whether students have met the Australian Curriculum: Economics and Business Year 9 achievement standard.

6 Unit 3 and 4 assessment provides evidence of student learning and provides opportunities for teachers to make judgments about whether students have met the Australian Curriculum: Economics and Business Year 10 achievement standard.

7 The concepts for civics and citizenship understanding are derived from the content descriptions and achievement standards, and are supported by civics and citizenship skills. The year-level description provides information about the development of concepts for civics and citizenship understanding. The definitions of these concepts are based on descriptions published in the Australian Curriculum: Civics and Citizenship (May 2014), www.australiancurriculum.edu.au/humanitiesandsocialsciences/civicsandcitizenship/Curriculum/F-10


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