Draft Australian Curriculum:
Economics and Business content links
Years 7 to 10
MoneySmart Teaching
Units of Work
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.
2
Overview: Years 7 – 10 MoneySmart Teaching Units of Work
Economics and Business Strands
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
3
Years 7 – 10 Economics and Business
Knowledge and Understanding: Scope and Sequence: Years 7 – 10
(Reference pp 46-47 Australian Curriculum: Economics and Business)
Year 7
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?
Year 8
Year 9
Year 10
Why are markets needed, and
why are governments involved?
How do participants in the global
economy interact?
How is the performance of an
economy measured?
Why do consumers and
businesses have both rights and
responsibilities?
What strategies can be used to
manage financial risks and
rewards?
Why do variations in economic
performance in different
economies exist?
What may affect the ways
people work now and in the
future?
How does creating a competitive
advantage benefit business?
What strategies do
governments use to manage
the economy?
How do different businesses
respond to opportunities in the
market?
What are the responsibilities of
participants in the workplace and
why are these important?
How do governments,
businesses and individuals
respond to changing
economic conditions?
Content Descriptions
What types of work exist
and in what other ways can
people derive an income?
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.
4
Years 7 – 10 Economics and Business
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.
5
Years 7 – 10 Economics and Business
Skills: Scope and Sequence: Years 7 – 10
(Reference pp 48-49 Australian Curriculum: Economics and Business)
Years 7 & 8
Questioning and Research
Years 9 & 10
Develop questions about an economic or business
issue or event, and plan and conduct an investigation
or project.
Develop questions and hypotheses about an economic or
business issue or event, and plan and conduct an
investigation.
Gather relevant data and information from a range of
digital, online and print sources.
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.
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 and new 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.
Apply economics and business knowledge, skills and
concepts in familiar, new and hypothetical situations.
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.
6
Years 7 – 10 MoneySmart Teaching Units of Work
Economics and Business
Economics and Business Knowledge and
Understanding
Economics and Business Skills
A range of mobile phone plans exist to meet a
variety of customer needs and wants (ACHEK017)
Question parents about the family budget and spending habits
(ACHES021)
List household expenses where some money
could be saved (ACHEK018)
Gather data about unit pricing from various sources (ACHES022)
MoneySmart Teaching
Years 7 – 10 Units
Year 7 Mathematics
How can we reduce our
spending?
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)
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)
Year 7 Science
Should I drink bottled
water?
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)
7
Years 7 – 10 MoneySmart Teaching Units of Work
Economics and Business
Economics and Business Knowledge and
Understanding
Banks are part of a financial market (ACHEH027)
Recognise the historical significance of bartering in
Aboriginal and Torres Strait Islander communities
(ACHEK028)
Economics and Business Skills
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)
MoneySmart Teaching
Years 7 – 10 Units
Year 8 Mathematics
How can we access
money overseas?
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)
Legislation determines type of light globes
available for purchase in Australia (ACHEK027)
Plan an investigation into a preferred artificial light source
(ACHES032)
Sustainability and environmental issues are
associated with production and purchase of
various artificial light sources(ACHEK029)
Access an online energy calculator and conduct an internet search
to find the cost of electricity from a local provider (ACHES033)
A variety of light bulbs exist to satisfy consumer
demand for products (ACHEK030)
Year 8 Science
Light up the globe!
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)
8
Years 7 – 10 MoneySmart Teaching Units of Work
Economics and Business
Economics and Business Knowledge and
Understanding
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)
Economics and Business Skills
MoneySmart Teaching
Years 7 – 10 Units
Investigate the number of hours students work (ACHES043)
Year 9 Mathematics
Collect information on financial institutions and fair work practices
from relevant websites and research jobs online (ACHES044)
How can we obtain more
money?
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)
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)
View relevant video clips to gather information (ACHES044)
Year 9 English
Predict the impact of online shopping trends in the next 5 – 10 years
(ACHES045)
Could I live smaller?
Respond to the question “Could I live smaller” (ACHES046
ACHES047 ACHES048 ACHES049)
Australian and overseas shopping and retail
websites use persuasive techniques and strategies
to attract customers (ACHEK041)
9
Years 7 – 10 MoneySmart Teaching Units of Work
Economics and Business
Economics and Business Knowledge and
Understanding
Economics and Business Skills
Inflation as an indicator of economic performance
(ACHEK050)
Identify questions and considerations for various scenarios in which
people plan for their financial future (ACHES055)
Inflation, depreciation and cost of loans influence
and affect consumer decisions and buying
outcomes (ACHEK053)
Collect information about compound interest through use of an
online calculator (ACHES056)
MoneySmart Teaching
Years 7 – 10 Units
Year 10 Mathematics
Reaching goals: What’s
involved?
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)
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)
Year 10 English
Teens talk money
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)
10
Years 7 – 10 MoneySmart Teaching Units of Work
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
(Note: the student learnings in the National Consumer and Financial
Literacy Framework are divided into, and are applicable over, bands
covering two chronological years.)
► 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)
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.
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)
11
Years 7 – 10 MoneySmart Teaching Units of Work
► Strand Economics and Business Skills
Sub-strand Questioning and research
Content Descriptions
–
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
► 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
Content Description
–
Interpret data and information displayed in different formats to identify
relationships and trends (ACHES023)
Sub-strand Economic reasoning, decision-making and application
Content Descriptions
–
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)
12
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.
Economics and Business
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.
13
Years 7 – 10 MoneySmart Teaching Units of Work
Links to the Australian Curriculum and National Consumer and Financial Literacy Framework
Year 7 Science – Should I drink bottled water?
Australian Curriculum – Science, Economics and Business
National Consumer and Financial Literacy Framework
Science
(Note: the student learnings in the National Consumer and Financial
Literacy Framework are divided into, and are applicable over, bands
covering two chronological years.)
► 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)
Year 8
► Dimension Knowledge and understanding
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
► Dimension Competence
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
‘real-life’ contexts
Economics and Business
► Strand Knowledge and Understanding
Content description
–
The ways consumers and producers respond to and influence each other
in the market (ACHEK017)
Justify the selection of a range of goods and services in a variety of
‘real-life’ contexts
14
Years 7 – 10 MoneySmart Teaching Units of Work
Economics and Business Skills
Sub-strand Questioning and research
–
Demonstrate awareness that family, community and socio-cultural
values and customs can influence consumer behaviour and financial
decision-making
Content Descriptions
– 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
Content Descriptions
– 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)
15
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 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.
Economics and Business
By the end of Year 7, students describe the interdependence of consumers and producers in the market. They explain the importance of short- and longterm 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.
16
Years 7 – 10 MoneySmart Teaching Units of Work
Links to the Australian Curriculum and National Consumer and Financial Literacy Framework
Year 8 Mathematics – How can we access money overseas?
Australian Curriculum – Mathematics, Economics and Business
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)
National Consumer and Financial Literacy Framework
(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
–
Research, identify and discuss the rights and responsibilities of
consumers in a range of ‘real-life’ contexts
Content Description
–
– Solve problems involving the use of percentages, including percentage
increases and decreases, with and without digital technologies
(ASMNA187)
Identify where to access reliable information and advice concerning the
rights and responsibilities of consumers and business
–
Analyse and explain the range of factors affecting consumer choices
– Solve problems involving profit and loss, with and without digital
technologies (ACMNA189)
Student Learnings
Sub-strand Real numbers
Economics and Business
► Strand Knowledge and Understanding
► Dimension Competence
–
Determine and compare the actual cost of using different ways of paying
for goods and services
–
Justify the selection of a range of goods and services in a variety of
‘real-life’ contexts
–
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
Content Descriptions
– 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)
17
Years 7 – 10 MoneySmart Teaching Units of Work
► Strand Economics and Business Skills
► Dimension Responsibility and Enterprise
Student Learnings
Sub-strand Questioning and research
–
Develop questions about an economic or business issue or event, and plan
and conduct an investigation or project(ACHES032)
Explain how individual and collective consumer decisions may have an
impact on the broader community and/or the environment
–
Gather relevant data and information from a range of digital, online and
print sources (ACHES0332)
Apply informed and assertive consumer decision-making in a range of
‘real-life’ contexts
–
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.
Content Descriptions
–
–
► Strand Interpretation and analysis
Content Description
– Interpret data and information displayed in different formats to identify
relationships and trends (ACHES034)
► Strand Economic reasoning, decision-making and application
Content Descriptions
–
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 (ACHES035)
–
Apply economics and business knowledge, skills and concepts in familiar
and new situations (ACHES036)
► 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 (ACHES037)
18
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 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.
Economics and Business
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.
19
Years 7 – 10 MoneySmart Teaching Units of Work
Links to the Australian Curriculum and National Consumer and Financial Literacy Framework
Year 8 Science – Light up the globe!
Australian Curriculum – Science, Economics and Business
National Consumer and Financial Literacy Framework
Science
(Note: the student learnings in the National Consumer and Financial Literacy
Framework are divided into, and are applicable over, bands covering two
chronological years.)
► Strand Science understanding
Sub-strand Physical sciences
Year 8
Content Description
► Dimension Knowledge and understanding
–
Student Learnings
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
Content Descriptions
–
Analyse and explain the range of factors affecting consumer choices
► Dimension Competence
Student Learnings
–
Use a range of methods and tools to keep financial records in ‘real-life
contexts’
Justify the selection of a range of goods and services in a variety of
‘real-life’ contexts
–
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)
► Dimension Responsibility and Enterprise
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)
Student Learnings
–
Apply informed and assertive consumer decision-making in a range of
‘real-life’ contexts
–
Discuss the legal and ethical issues associated with advertising and
providing goods and services to consumers
–
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
20
Years 7 – 10 MoneySmart Teaching Units of Work
► Strand Economics and Business Skills
Sub-strand Questioning and research
Content Descriptions
– Develop questions about an economic or business issue or event, and
plan and conduct an investigation or project (ACHES032)
– Gather relevant data and information from a range of digital, online and
print sources (ACHES033)
Sub-strand Interpretation and analysis
Content Description
– Interpret data and information displayed in different formats to identify
relationships and trends (ACHES034)
Sub-strand Economic Reasoning, decision making and application
Content Descriptions
– 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 (ACHES035)
– Apply economics and business knowledge, skills and concepts in familiar
and new situations (ACHES036)
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 (ACHES037)
21
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 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.
Economics and Business
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.
22
Years 7 – 10 Achievement Standards
Economics and Business
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.
23
Years 7 – 10 MoneySmart Teaching Units of Work
Links to the Australian Curriculum and National Consumer and Financial Literacy Framework
Year 9 Mathematics – How can we obtain more money?
Australian Curriculum – Mathematics, Economics and Business
National Consumer and Financial Literacy Framework
Mathematics
(Note: the student learnings in the National Consumer and Financial
Literacy Framework are divided into, and are applicable over, bands
covering two chronological years.)
► Strand Number and Algebra
Sub-strand Real numbers
Content Description
–
Solve problems involving direct proportion. Explore the relationship
between graphs and equations corresponding to simple rate problems
(ACMNA208)
Sub-strand Money and financial mathematics
Year 10
► Dimension Knowledge and understanding
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
–
Analyse and explain the range of factors affecting consumer choices
–
Identify types of consumer and financial risks to individuals, families and
the broader community, and ways of managing them
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)
Sub-strand Data representation and interpretation
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)
► Dimension Competence
Student Learnings
– Analyse relevant information to make informed choices when
purchasing goods and services and/or to resolve consumer choices
► Dimension Responsibility and enterprise
Student Learnings
– Apply informed and assertive consumer decision-making in a range of
‘real-life’ contexts
24
Years 7 – 10 MoneySmart Teaching Units of Work
Economics and Business
► Strand Knowledge and Understanding
Content Descriptions
–
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)
– 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:
–
–
–
–
–
–
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
► Strand Economics and Business Skills
Sub-strand Questioning and research
generating income and paying taxes
saving
spending
donating
investing
Content Descriptions
–
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)
Sub-strand Interpretation and analysis
Content Description
–
Analyse data and information in different formats to explain cause and
effect relationships, make predictions and illustrate alternative perspectives
(ACHES045)
25
Years 7 – 10 MoneySmart Teaching Units of Work
Sub-strand Economic reasoning, decision-making and application
Content Descriptions
–
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)
Sub-strand Communication and reflection
Content Descriptions
–
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)
26
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, 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.
Economics and Business
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.
27
Years 7 – 10 MoneySmart Teaching Units of Work
Links to the Australian Curriculum and National Consumer and Financial Literacy Framework
Year 9 English – Could I live smaller?
Australian Curriculum – English, Economics and Business
English
► Strand Literacy
Sub-strand Interpreting, analysing, evaluating
National Consumer and Financial Literacy Framework
(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
Content Description
► Dimension Knowledge and understanding
– Interpret, analyse and evaluate how different perspectives of issue, event,
situation, individuals or groups are constructed to serve specific purposes
in texts (ACELY1742)
Student Learnings
– Explore and explain the combinations of language and visual choices that
authors make to present information, opinions and perspectives in
different texts (ACELY1745)
► Dimension Competence
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)
– 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
► Dimension Responsibility and enterprise
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.
– Appreciate that there is often no one right answer in making financial
decisions because these depend on individual circumstances,
preferences and values
28
Years 7 – 10 MoneySmart Teaching Units of Work
Economics and Business
► Strand Knowledge and Understanding
– Demonstrate awareness that family and socio-cultural values and
customs can influence consumer behaviour and financial decisions
Content Descriptions
– 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)
► Strand Economics and Business Skills
Sub-strand Questioning and research
Content Descriptions
– Gather relevant and reliable data and information from a range of digital,
online and print sources (ACHES044)
– Interpretation and analysis
– Analyse data and information in different formats to explain cause and
effect relationships, make predictions and illustrate alternative
perspectives (ACHES045)
Sub-strand Economic reasoning, decision-making and application
Content Descriptions
– 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)
29
Years 7 – 10 MoneySmart Teaching Units of Work
– Apply economics and business knowledge, skills and concepts in familiar,
new and hypothetical situations (ACHES047)
Sub-strand Communication and reflection
Content Descriptions
– 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)
30
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 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.
Economics and Business
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.
31
Years 7 – 10 MoneySmart Teaching Units of Work
Links to the Australian Curriculum and National Consumer and Financial Literacy Framework
Year 10 Mathematics – Reaching goals: What's involved?
Australian Curriculum – Mathematics, Economics and Business
National Consumer and Financial Literacy Framework
Mathematics
(Note: the student learnings in the National Consumer and Financial
Literacy Framework are divided into, and are applicable over, bands
covering two chronological years.)
► Strand Number and algebra
Sub-strand Money and financial mathematics
Year 10
Content Description
► Dimension Knowledge and understanding
– Connect the compound interest formula to repeated applications of simple
interest using appropriate digital technologies (ACMNA229)
Student Leanings
Sub-strand Patterns and algebra
Content Description
– Substitute values into formulas to determine an unknown (ACMNA234)
► Strand Statistics and probability
Sub-strand Data representation and interpretation
Content Description
– Investigate and describe bivariate numerical data where the independent
variable is time (ACMSP252)
Economics and Business
► Strand Knowledge and Understanding
Content Descriptions
– 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)
– Identify and explain strategies to manage personal finances
– Explain the various factors that may impact on achieving personal
financial goals
– Explain how over-reliance on credit can impact on future choices
– Analyse and explain the range of factors affecting consumer choices
– Identify types of consumer and financial risks to individuals, families and
the broader community, and ways of managing them.
► Dimension Competence
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
32
Years 7 – 10 MoneySmart Teaching Units of Work
► Strand Knowledge
Sub-strand Questioning and research
Content Descriptions
– Develop questions and hypotheses about an economic or business issue or
event, and plan and conduct an investigation (ACHES055)
► Dimension Responsibility and enterprise
Student Learnings
– Apply informed and assertive consumer decision-making in a range of
‘real-life’ contexts
– Gather relevant and reliable data and information from a range of digital,
online and print sources (ACHES056)
– Appreciate that there is often no one right answer in making financial
decisions because these depend on individual circumstances,
preferences and values
Sub-strand Interpretation and analysis
Content Description
– Understand and explain the legal responsibilities of taking on debt,
including the consequences of not paying off the debt
– Analyse data and information in different formats to explain cause and
effect relationships, make predictions and illustrate alternative perspectives
(ACHES057)
Sub-strand Economic reasoning, decision-making and application
Content Descriptions
– 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 (ACHES058)
– Apply economics and business knowledge, skills and concepts in familiar,
new and hypothetical situations (ACHES059)
Sub-strand Communication and reflection
Content Descriptions
– Present reasoned arguments and evidence- based conclusions in a range
of appropriate formats using economics and business conventions,
language and concepts (ACHES060)
– Reflect on the intended and unintended consequences of economic and
business decisions (ACHES061)
33
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, 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 multistep chance experiments and assign probabilities for these experiments. They calculate quartiles and inter-quartile ranges.
Economics and Business
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 subjectspecific language, conventions and concepts. They analyse the intended and unintended effects of economic and business decisions and the potential
consequences of alternative actions.
34
Years 7 – 10 MoneySmart Teaching Units of Work
Links to the Australian Curriculum and National Consumer and Financial Literacy Framework
Year 10 English – Teens talk money
Australian Curriculum – English, Economics and Business
National Consumer and Financial Literacy Framework
English
Note: the student learnings in the National Consumer and Financial Literacy
Framework are divided into, and are applicable over, bands covering two
chronological years.)
► 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
Content Descriptions
– 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
Content Descriptions
– 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)
Year 10
► Dimension Knowledge and understanding
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
– Explain the various factors that may impact on achieving personal
financial goals
► Dimension Competence
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
► Dimension Responsibility and enterprise
Student Learnings
– 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
35
Years 7 – 10 MoneySmart Teaching Units of Work
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)
Economics and Business
► Strand Economics and Business Knowledge and Understanding
Content Descriptions
– 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)
► Strand Economics and Business Skills
Sub-strand Questioning and research
Content Descriptions
– Develop questions and hypotheses about an economic or business issue
or event, and plan and conduct an investigation (ACHES055)
– Gather relevant and reliable data and information from a range of digital,
online and print sources (ACHES056)
Sub-strand Interpretation and analysis
Content Description
– Analyse data and information in different formats to explain cause and
effect relationships, make predictions and illustrate alternative
perspectives (ACHES057)
36
Years 7 – 10 MoneySmart Teaching Units of Work
Sub-strand Economic reasoning, decision-making and application
Content Descriptions
– 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 (ACHES058)
– Apply economics and business knowledge, skills and concepts in familiar,
new and hypothetical situations (ACHES059)
Sub-strand Communication and reflection
Content Descriptions
– Present reasoned arguments and evidence- based conclusions in a range
of appropriate formats using economics and business conventions,
language and concepts (ACHES060)
– Reflect on the intended and unintended consequences of economic and
business decisions (ACHES061)
37
Years 7 – 10 Achievement Standards
Connection to year level Achievement Standards
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.
Economics and Business
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.
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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.
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Australian Curriculum: Economics and Business
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.
Economics and Business Skills
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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Australian Curriculum: Economics and Business
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.
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