Download Workshop 8 - Yr 7-10 Economics and Business

Economics and Business
ACARA
At Siena Catholic College
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20 hours per year (ACARA)
Working backwards
Years 9 and 10 electives
Year 9: 5 lessons per cycle = 30 hours per semester elective
Year 10: 7 lessons per cycle approx 45 min lessons = 42 hours
per semester elective
 Ignoring ‘work and work futures’ as this is covered in PSDE in
both years 9 and 10
 Document – Shape of Economics and Business
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ACARA Economics and Business
Strands:
 Economics and business knowledge and understanding
 Economics and business skills
Key ideas:
 Resource allocation and making choices
 The business environment
 Consumer and financial literacy
 Work and work futures
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Year level descriptions
Key questions
Content descriptions
Content elaborations (examples)
Achievement standards
In Victoria: 12 months planning and familiarisation then
implemented and reported against in 2015
In Qld: By 2016
Schools responsibility to organise teaching and learning program
Content is essential; method is optional – flexibility regarding how
and when to report
resources and implementation support:
http://www.vcaa.vic.edu.au/Pages/foundation10/curriculum/index.aspx
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Year 10 Business electives:
Semester 1
Semester 2
Commerce in Action
Certificate I in Business
(Intro Economics and Accounting)
Certificate I in IDMT
Creative Software
NEW Year 10 Business electives:
Semester 1
Semester 2
Economics and Business
Financial literacy and Accounting
Certificate I in IDMT
Creative
Software
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Year 10 Textbook
Justice, Money and Markets
Fifth edition
Calandra Ciavarella, Lasonski
Pearson publishers
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Semester 1 ‘Economics and Business’
 Economic problem
 Circular flow (2 sector and 5 sector)
 Opportunity cost
 Price mechanism
 Unemployment
 Inflation
 Globalisation
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Scope and sequence
 The ways the performance of the economy can be
measured
 The effect of the economy’s performance on the sectors of
the economy
 The range of factors influencing consumer choice
 The interconnections between businesses in a global
economy
 The nature of work in a global economy
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Economics and Business Knowledge
& Understanding
regional and global environment
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Economics and Business Skills
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Research, analysis and synthesis
Application
Collaborative decision-making
Reflection, evaluation and communication
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Learning experiences
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Identifying and clarifying economic and business issues
Interpreting and critiquing media messages
Developing and applying economic and business reasoning
Developing teamwork skills to make effective, informed
decisions
 Evaluating economic, social and environmental consequences
of proposed decisions
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Semester 2 ‘Financial literacy and Accounting’
 What is money?
 Managing personal finances
 Consumer choice
 Financial institution marketplace
 Business finances
 Cash books
 Account types and effects of transactions
 Recording of financial transactions
 Reporting of business finances
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Scope and sequence
 The range of factors influencing consumer choice including
marketing by financial institutions
 Introducing financial recording for business
(not from ACARA)
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Economics and Business Knowledge
& Understanding
regional and global environment
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Economics and Business Skills
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Research, analysis and synthesis
Application
Collaborative decision-making
Reflection, evaluation and communication
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Year 9
Current Electives
Manage Your Money
Entrepreneurs Rock!
Personal Finance:
Business Enterprises:
Earning an income, spending and
saving, borrowing, managing,
investing, budgeting
Entrepreneurs, planning for success
and business operations
Consume Finance:
Establishing a Business:
Choices, decisions, protection ,
payment choices
Promoting, selling techniques,
targeting consumers,
Text: Commerce in Action Harper G & Mulas R McGraw-Hill
MoneySmart – ASIC - website
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Years 9 & 10
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Depth studies
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Integration of
curriculum
areas?????
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Year 7 & 8
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A resource from Victoria
Comview 2013
 Resources, courses, websites ….. years 8 – 10 Economics
and Business
 Geoffrey O’Neill [email protected]
 Glen Waverley Secondary College
 http://ma03comview.weebly.com/
 weebly – create own websites for free
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Course, Resources and Websites
Select the following Links:
PowerPoint Presentation
Year 8 - Taking Care of Business
Year 8 - Do you want fries with that?
Year 8 - Asia Pacific and Aid
Year 9 Ideas
- Cigarettes in Asia Weblink
- Superbrands Food Doco
- Globesity (Foreign Correspondent)
Year 10 - Dollar$ and Sen$e
- Curriculum
- Resources
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Year 8
a)
Investigating jobs and skills –
Do you want fries with that?
b) Taking care of business
 Economic knowledge and understanding
 Economic reasoning and interpretation
c) Australian aid
 Unit on Asia Pacific, focus on
 Developing economies –v- established economies GDP as mapping activity, International trade
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Year 9 and Year 10
Year 9
 More macro focus
 Link to History curriculum:
 Changing features of movements (unions)
 New technology – industrial revolution – economies of scale
 Imperialism
Year 10 (Year 9 in future)
 Dollars and sense – personal finance and accounting
 Avoiding scams, consumer rights, taxation, superannuation,
spending money, credit and debt, investments, budgeting,
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interest, saving strategies, different
ways to earn money
ESSI Money
McClelland College Frankston
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Approaches to consumer and financial literacy years 9 and 10
Nick Lloyd
Melbourne Grammar School
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Personal Finance
Types of finance
Term deposits
Property
Government bonds – ASX listed
Corporate bonds
Gold bullion
Managed funds/balanced trust
Ethics of choices
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Glenn Fischmann
Frankston High School
Monopoly
 First time – used to teach cash books – develop their own cash
books
 Carry cash book through to next game
 modified cash payment and cash receipt journals - cash flow
statement and balance sheet – not given money
 5-6 boards
 Sometimes allocate groups
 Bring in food and drink
 2 periods each time through
 At end, calculate assets and prepare balance sheet – next lesson is
discussion of how economic events effected their financial
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circumstances
Variations for game 2
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Starting money – can borrow but have a limit of ..
Stamp duty – 5%
Income tax 10%
Capital gains tax: 50%
Interest rate 10% - paid to bank every 15 mins
Leads to real estate assignment
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Variations game 3 – Government Policy
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First low income owners property – 30% off first property
Property boom – values increase by 10%
Rental price increases by 5%
Increase in housing spending – decreased DD of other things – unN hit
People default on home loans
House prices fall by 10% of face value
Rental prices decrease
GFC bonus payment - $200
Stimulus – building house or hotel 30% discount
Rail, power and water owners can increase prices by 50%
Stimulus payments cut
Economy is booming
Election coming up
New govt - Cut budget
2 richest players pay income to two poorest
players
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Population flees alien invasion
Alan Kohler ABC News/Eureka Report
Trends in various economic indices
 Why does 2-3% inflation have to be goal
 Why not 2-3% deflation
 At present, everyone (private and public) has too much debt –
need to keep value of currency low so that debt does not
increase to detriment of savers rather than investors
(borrowers)
 Anyone on fixed income / with savings – detrimental effect
 Super industry is powerful. No one is lobbying against this
industry.
 Increase to 12% high
 Super concessions are big burden
on budget
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Glenys Goodingham
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[email protected]
Siena Catholic College
60 Sippy Downs Drive
Sippy Downs Q 4558
5476 6100
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