Economics and Business ACARA. 20 hours per year (ACARA) Working backwards Years 9 and 10 electives Year 9: 5 lessons per cycle = 30 hours per.

Economics and Business

ACARA

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

At Siena Catholic College

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Strands: Economics and business knowledge and

understanding Economics and business skillsKey ideas: Resource allocation and making choices The business environment Consumer and financial literacy Work and work futures

ACARA Economics and Business

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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 2015In Qld: By 2016

Schools responsibility to organise teaching and learning programContent 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 4

NEW Year 10 Business electives:

Semester 1 Semester 2

Economics and Business Financial literacy and Accounting

Certificate I in IDMT Creative Software

Year 10 Business electives:

Semester 1 Semester 2

Commerce in Action (Intro Economics and Accounting)

Certificate I in Business

Certificate I in IDMT Creative Software

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Justice, Money and MarketsFifth editionCalandra Ciavarella, LasonskiPearson publishers

Year 10 Textbook

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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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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

Scope and sequence

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Economics and Business Knowledge & Understanding

regional and global environment

P11 of document9

Research, analysis and synthesis Application Collaborative decision-making Reflection, evaluation and communication

Economics and Business Skills

P12 of document

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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

Learning experiences

P13 of document11

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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The range of factors influencing consumer choice including marketing by financial institutions

Introducing financial recording for business(not from ACARA)

Scope and sequence

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Economics and Business Knowledge & Understanding

regional and global environment

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Research, analysis and synthesis Application Collaborative decision-making Reflection, evaluation and communication

Economics and Business Skills

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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,

Year 9

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Text: Commerce in Action Harper G & Mulas R McGraw-HillMoneySmart – ASIC - website

Years 9 & 10

P15 of document17

Depth studies

P17 of document

Integration of curriculum areas?????

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Year 7 & 8

P16 of document19

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

A resource from VictoriaComview 2013

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Select the following Links:PowerPoint PresentationYear 8 - Taking Care of BusinessYear 8 - Do you want fries with that?

Year 8 - Asia Pacific and AidYear 9 Ideas  - Cigarettes in Asia Weblink  - Superbrands Food Doco  - Globesity (Foreign Correspondent)

Year 10 - Dollar$ and Sen$e   - Curriculum  - Resources 

Course, Resources and Websites

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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

Year 8

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Year 9 More macro focus Link to History curriculum: Changing features of movements (unions) New technology – industrial revolution – economies of

scale ImperialismYear 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, interest, saving strategies, different ways to earn money

Year 9 and Year 10

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ESSI MoneyMcClelland College Frankston

Personal Finance Types of finance Term deposits Property Government bonds – ASX listed Corporate bonds Gold bullion Managed funds/balanced trust Ethics of choices

Approaches to consumer and financial literacy years 9 and 10

Nick LloydMelbourne Grammar School

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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 circumstances

Glenn FischmannFrankston High School

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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

Variations for game 2

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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 Population flees alien invasion

Variations game 3 – Government Policy

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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

Alan Kohler ABC News/Eureka ReportTrends in various economic indices

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[email protected]

Siena Catholic College 60 Sippy Downs Drive Sippy Downs Q 4558 5476 6100

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Glenys Goodingham