Subject name:

Money Matters
Lesson # in
sequence
1- Introduction
to Budgeting
Money

Levels
10

Unit length:
1 semester

Curriculum Area:
Humanities and Social Sciences / Year 10 / Economics and Business - Welfare
Mathematics - Budgeting

Learning
Intention &
Success criteria

Teaching
strategies and learning Strand
Use of
ICT byand
Students
1
Number
Algebra Setting for learning
activities
Sub-strand Money and financial mathematics

Assessment evidence

Resources required
& location

Connection to Victorian Curriculum

Humanities and Social Sciences / 710 Economics and Business /

Year 10 / Economics and Business Knowledge and Understanding /
ACHEK051

To understand
why budgeting
is important

Intrigue exercise: Capturing

student interest as you share
your personal budget having
them work it out for
themselves.
Utilising higher level cognitive
engagement.

Kahoot test prior

knowledge related to
budgeting and financial
literacy

Classroom

Formative Kahoot results

Worksheet
Introduction

Content Description

The links between economic performance and living standards,

and how and why variations exist within and between economies

Elaborations

2 - 3 Resource
Allocation &
Making
Choices

To play the
budgeting
game, to meet
budgeting goals
Meet the goals
set out in the
game

Watch videos
Complete budget game
worksheet of structured
questions
Instruction sheets

YouTube, instruction
sheets could be on Google
Classroom?

Classroom

Formative
participation in
budgeting game,
performance/mee
ting goals of
budgeting game

4 5 Effective
budgeting
skills

To learn how to
budget
effectively for a
given income

6 Cost of
living

Banking skills
calculate
compound
interest, costs
of living,
inflation and
determine the
poverty line
for those
living in
Australia.

Create an annual budget

Calculate tax
Find a house
Find a car
Estimate the cost of groceries for a
week

Internet domain.com,
carsales.com, supermarket
websites, ASIC budget
planner

Copy PowerPoint notes

Watch videos
Complete worksheets of
structured questions
Complete textbook questions.

Investigate banks
website, research?

Gisborne Secondary College Curriculum Audit 2014/15

Classroom

Guest speaker from

a bank, maybe
manager? Held at
school or at a bank
if they have a room.

Formative
students to
submit their final
budget plan at
the end

Formative
students asking
questions,
engaged, paying
attention

defining living standards and explaining its relationship to

economic performance

investigating the ways living standards can be measured (for

example, gross domestic product (GDP), Human Development
Index (HDI) or total quality of life index)

Video Needs and

wants
Worksheet Factors
influencing needs and
wants
Commerce, Civics and
Citizenship Textbook
pp. 52 - 53
PowerPoint
Unemployment
Commerce, Civics and
Citizenship Textbook
pp. 75-79
Worksheets
Laptops
Whiteboard
Excursion
supermarket put
together groceries for
a week

Humanities and Social Sciences / 710 Economics and Business /

Year 10 / Economics and Business Knowledge and Understanding /
ACHEK051

Power point Focus

Group
Work Sheet
Textbook questions

Mathematics / Level 10 / Number and Algebra /

Money and financial mathematics
Content description
Connect the compound interest formula to repeated
applications of simple interest using appropriate digital
technologies
Elaborations

working with authentic information, data and

interest rates to calculate compound interest and
solve related problems

exploring the factors that can explain the variations in economic

performance within or between economies (for example, high
levels of foreign ownership, employment rates, levels of debt)

investigating economic performance and living standards and

discussing how they can mean different things to different people
and countries

Humanities and Social Sciences / 710 Economics and Business /

Year 10 / Economics and Business Knowledge and Understanding /
ACHEK051

investigating the ways in which income and wealth are

distributed in the economy, using measures such as an income
distribution histogram, the Lorenz curve or the Gini coefficient

Economics and Business / Levels 9 and 10 /

Consumer and Financial Literacy
Content description

Explain why and describe how people manage financial

risks and rewards in the current Australian and global
financial landscape
Elaborations

identifying financial risks such as scams and

identity theft and considering strategies to avoid these

7 8 Compare
welfare
systems
overseas

Identify SWOT
analysis of

three major
country
welfare
systems.

9 11 Predict
the future of
the Australian
welfare system
and suggest
improvements.

Communicate
future
direction of
the Australian
welfare
system.

Research
Provide relevant websites to
assist students in their task

Structured Questions
Research
Group work planning for
identifying vulnerabilities
within the Australian welfare
system
Application of guidelines for
future planning
Excursion to Bank& centre link
(week 9)

Literacy Focus: Application of business terminology, note-taking and answer

structuring

Gisborne Secondary College Curriculum Audit 2014/15

Student research on
web, create coggle
as a group

Classroom/Library

Teacher to be
added to coggle
group able to
see progress

Students use ICT

application of their choice
to present their
assignment.

Classroom

Community space
library or

community

centre.
Guest
appearance by
local politician to
talk about welfare
and its
importance.

Research using devices/the

internet

explaining the role of banks and other deposittaking institutions, such as credit unions or building
societies, in collecting deposits, pooling savings and
lending them to individuals and business

debating the difference between good and bad

debt, how to manage debt, the risks of overindebtedness, and the importance of having a savings
buffer

identifying ways consumers can protect themselves

from risks, for example, through insurances, savings
and superannuation

Laptops

Mathematics / Level 10 / Number and Algebra /

Money and financial mathematics
Content description
Evaluate statistical reports in the media and other places
by linking claims to displays, statistics and representative
data
Elaborations
Investigating the use of statistics in reports
regarding the growth of Australia's trade with other
countries of the Asia region

Worksheet (*13)
Laptops
Whiteboard

Economics and Business / Levels 9 and 10 / Work

and Work Futures
Content description
Research the way the work environment is changing in
contemporary Australia and analyse the implications for
current and future work
Elaborations

researching current trends in the types of work

available, the changes occurring, and the implications
for future employment

analysing how technology, globalisation and

sustainability have affected the way we work

investigating a range of occupations and the skills

and dispositions required in different fields

ICT focus: Research techniques, use of PowerPoint / Prezi application /Publisher software for developing marketing paraphernalia and a business plan. Communication
through the Portal.

Year 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 multi-step chance experiments and assign probabilities for these experiments. They calculate
quartiles and inter-quartile ranges.
Learning focus
As students work towards the achievement of Level 10 standards in Economics, they develop their understanding of how the Australian economy is managed, particularly within the international
economic context. They analyse how macroeconomic and microeconomic policies and programs advanced by governments and other institutions affect them and their fellow citizens. They
examine the role of exchange, trade and globalisation in influencing Australias standard of living. They develop an understanding of enterprise attributes and skills, and describe the impact of
innovation and enterprise on the economy and society.
Students investigate the relationship between economic growth, ecological sustainability and the standard of living, and explore what it means to be an ethical producer and consumer. They begin
to reflect on the role of values in the economic decision making of producers, consumers and governments.
They develop skills in using economic reasoning, including cost-benefit analysis, to research economic issues and propose solutions for economic problems of global significance. They research
economic problems and argue the validity or otherwise of their own hypotheses. Economic problems could include examples such as why the price of a can of soft drink varies depending on
where it is sold; whether welfare is a right or a privilege; and whether tolls should be charged on new freeways. Such research assists students in understanding, clarifying and justifying values
and attitudes about issues affecting the economy, society and the environment.
Students extend their personal financial literacy skills and understanding about the role of savings and investment. They examine vocational pathways and education and training requirements,
considering possible work and career options. They develop skills and strategies for transition to employment and further education and training, including job seeking, job application and
interview skills.
Standards
Economic knowledge and understanding
At Level 10, students describe how markets, government policies, enterprise and innovation affect the economy, society and environment in terms of employment, economic growth, the use of
resources, exports and imports, and ecological sustainability.
They analyse how goods and services are produced and how markets work. They predict how prices will change when there is either a surplus or shortage, and explain how this might influence
the behaviour of consumers and producers. They analyse the role and significance of exchange, trade and globalisation in influencing Australias standard of living. They discuss and explain what
it means to be an ethical consumer and producer and identify examples of ways values can affect the economic decision making of consumers, producers and governments.
Students analyse the role that governments and other institutions such as banks, the Australian Council of Trade Unions (ACTU) play in the economy, and evaluate their performance in achieving
appropriate economic outcomes for individuals and for society. They explain the role and significance of savings and investment for individuals and for the economy, and demonstrate the skills
required to successfully plan and manage personal finances.
Students predict the economic consequences of proposed government policies and make informed choices among alternative public policy proposals. Students explain the impact of
macroeconomic and microeconomic policies on themselves and others, including businesses.
Students analyse vocational pathways and education and training requirements and identify possible career paths and opportunities. They demonstrate skills required for moving from school to
employment or further education.
Gisborne reasoning
Secondary College
Curriculum
Audit 2014/15
Economic
and
interpretation

At Level 10, students use economic reasoning, including cost-benefit analysis, to research and propose solutions to economic issues and problems of global significance, and to clarify and justify
values and attitudes. They plan and conduct investigations in order to research an economic problem and/or argue the validity or otherwise of their own hypotheses. They use relevant economic