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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.

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Presentation on theme: "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."— Presentation transcript:

1 Economics and Business ACARA

2  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 2

3 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 ACARA Economics and Business 3

4  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: 4

5 NEW Year 10 Business electives: Semester 1Semester 2 Economics and BusinessFinancial literacy and Accounting Certificate I in IDMTCreative Software Year 10 Business electives: Semester 1Semester 2 Commerce in Action (Intro Economics and Accounting) Certificate I in Business Certificate I in IDMTCreative Software 5

6 Justice, Money and Markets Fifth edition Calandra Ciavarella, Lasonski Pearson publishers Year 10 Textbook 6

7 Semester 1 ‘Economics and Business’  Economic problem  Circular flow (2 sector and 5 sector)  Opportunity cost  Price mechanism  Unemployment  Inflation  Globalisation 7

8  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 8

9 Economics and Business Knowledge & Understanding regional and global environment P11 of document 9

10  Research, analysis and synthesis  Application  Collaborative decision-making  Reflection, evaluation and communication Economics and Business Skills P12 of document 10

11  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 document 11

12 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 12

13  The range of factors influencing consumer choice including marketing by financial institutions  Introducing financial recording for business (not from ACARA) Scope and sequence 13

14 Economics and Business Knowledge & Understanding regional and global environment 14

15  Research, analysis and synthesis  Application  Collaborative decision-making  Reflection, evaluation and communication Economics and Business Skills 15

16 Current Electives Manage Your MoneyEntrepreneurs 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 16 Text: Commerce in Action Harper G & Mulas R McGraw-Hill MoneySmart – ASIC - website

17 Years 9 & 10 P15 of document 17

18 Depth studies P17 of document Integration of curriculum areas????? 18

19 Year 7 & 8 P16 of document 19

20  Resources, courses, websites ….. years 8 – 10 Economics and Business  Geoffrey O’Neill  Glen Waverley Secondary College   weebly – create own websites for free A resource from Victoria Comview

21 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 PowerPoint Presentation Year 8 - Taking Care of Business Year 8 - Do you want fries with that? Year 8 - Asia Pacific and Aid Year 9 IdeasCigarettes in Asia WeblinkSuperbrands Food DocoGlobesity (Foreign Correspondent)CurriculumResources Course, Resources and Websites 21

22 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 22

23 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, interest, saving strategies, different ways to earn money Year 9 and Year 10 23

24 24 ESSI Money McClelland College Frankston

25  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 Lloyd Melbourne Grammar School 25

26 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 Fischmann Frankston High School 26

27  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 27

28  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 28

29  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 Report Trends in various economic indices 29

30   Siena Catholic College  60 Sippy Downs Drive  Sippy Downs Q 4558  Glenys Goodingham


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