Economics Preliminary Topic 5 Financial Markets: Regulation of Financial Markets Teacher notes. Regulation of financial markets Rationale In this ‘laptops for learning’ lesson, students will use ICT extensively as they research Australian financial regulators via the internet, create a brochure/flyer using MS Publisher, email and correct their final products. Students will communicate economic information and complete a quiz to review learning at the end of the lesson. Quality Teaching Target Areas Engagement Outcomes P3 describes, explains and evaluates the role and operation of markets P5 analyses the relationship between individuals, firms, institutions and government in the Australian economy P6 explains the role of government in the Australian economy Information Communication Technologies (ICT) Conduct research via the internet Create brochure/flyer using MS Publisher Email brochure/flyer Provide feedback and edit the final product Background Information about the lesson This lesson can be taught as part of the Financial Markets topic of the Preliminary course. Students will have previously learned about the types of financial markets and the extent of competition in financial markets in Australia. This lesson will take 2 periods (or 1 long period); part of the activity could involve homework. Resources - Laptop Economics Textbook Websites: Reserve Bank of Australia: RBA Australian Prudential Regulation Authority: APRA Australian Securities and Investments Commission: ASIC Australian Treasury Council of Financial Regulators Brochure lesson plan and help - Quiz © Commonwealth of Australia 2009 Page | 1 Lesson Plan: Regulation of Financial Markets Learn about and Learn to Regulation of financial markets – the role and functions of current institutions o Reserve Bank of Australia o Australian Prudential Regulation Authority o Australian Securities and Investments Commission o Australian Treasury o Council of Financial Regulators Teaching & Learning Strategies ICT Introduction (5 mins) Review types of financial markets and the extent of competition in financial markets; Discuss the need for regulation in financial markets Publisher Activity Students research and produce an information brochure/flyer summarising the role and functions of the current financial market regulators. Class activities: (20 minutes) 1) In introducing the activity the teacher conducts a class discussion explaining the activity including: The purpose of brochures/flyers in providing summary information; What brochures look like How to produce a brochure and where to access help (see Brochure lesson plan; pair students according to experience with MS publisher) What an information brochure about financial market regulators should include and look like Brochure lesson plan 2) The class brainstorms a checklist specific to this activity – students record in One Note for later use Student activities: (40 minutes) discuss the need for regulation in financial markets Students choose partners to check their end product. Brochures need to be done individually. Students: Conduct research into the institutions that regulate financial markets in Australia, recording the information in One Note (or similar) explain the role of institutions in the operation of financial markets Use MS Publisher to produce an information flyer or brochure outlining the role and functions of financial market regulators in Australia Show or email brochures/flyers to partners to check using the class checklist, make necessary corrections Review – Quiz (10 mins) online TaLe matching quiz © Commonwealth of Australia 2009 Page | 2 Student worksheet - Regulation of Financial Markets Activity You are going to create an information brochure or flyer that summarises the role and functions of the current financial market regulators in Australia. Keeping in mind the class discussion and check list you have been involved in, you need to work through the following steps to complete this activity: Conduct research into the institutions that regulate financial markets in Australia, recording the information in One Note (or similar) Use MS Publisher to produce an information flyer or brochure outlining the role and functions of financial market regulators in Australia Show or email brochures/flyers to your partner to check using the class checklist; make necessary corrections Note: 1) You need to produce your own individual brochure/flyer – your partner is there to check your work and offer suggestions; 2) There will be a quiz about the role and functions of the current financial market regulators in Australia at the end of this activity, so make sure you concentrate! There can also be questions about this in assessment tasks and exams! Resources - Laptop Economics Textbook Websites: Reserve Bank of Australia: RBA Australian Prudential Regulation Authority: APRA Australian Securities and Investments Commission: ASIC Australian Treasury Council of Financial Regulators Brochure lesson plan and help © Commonwealth of Australia 2009 Page | 3