WHAT ECONOMICS IS IN IT FOR ME?

 All 6 aims of the Curriculum have Economics and Business within each aim.  Economics is present in all 4 areas of the curriculum (as is business):  Resource allocation and making choices  Business environment  Consumer & financial literacy  Work and work futures

 It is doubtful that the curriculum aims can be met without a strong consideration of Economics as part of the focus of content and skills.  There will be many ways that schools approach how the Curriculum will be implemented.  We may need to be very actives as teachers of Economics and Business to ensure our curriculum received the treatment it deserves and warrants

 Subject/discipline backgrounds will vary and it may be taught by”  A. Teachers who have tertiary qualifications in both business and economics  B. Teachers who have tertiary qualifications in either business or economics  C. Teachers who have tertiary qualifications in neither economics or business.

 What group do you fall in to?  * Have taught both economics and Business?  * Have taught Business but not Economics?  * Have taught Economics but not Business?  Economics background– tertiary? Year 12? None at all?

 A Social Science that studies the decisions made by individuals, households, businesses, governments (and other groups) about how scarce resources are allocated in attempting to satisfy unlimited needs and wants.  Under Aust. Curriculum, E & B is placed within the Humanities Learning Area (includes History, Geography, and Civics & Citizenship)

 Content:  As the Curriculum is not yet finalised and accepted by ACARA, there has not yet been a detailed elaborations prepared for E & B.  The suggestions offered here have been developed by a few experienced teachers of Economics, and should not be taken as a definitive or exhaustive listing.  A detailed elaborations will most likely be developed QCAA.

 Year 5 – Consumer choices – needs, wants, resources, limited resources, land, labour, capital and enterprise/entrepreneur, consumer choices, scarcity

 Opportunity cost – choices about alternative uses of resources and the need to consider trade-offs  Effects of consumer and financial decisions on individuals, broader community and the environment.  Why businesses exist (to make a profit by providing goods and services that consumers/households need and want)  Ways of providing goods and services – scales of production AND forms of ownership (sole trader to Multi-national corporation )

 Central economic focus is THE MARKET, and WORK  - supply, demand, price, market, consumers, producers, shortage, surplus,  - types of markets – subsistence, commercial market, on-line market etc..  - entrepreneur – characteristics and roles  -Work – why individuals work (income, personal satisfaction, etc.);  types of work (volunteer to full time work, unskilled to highly skilled [qualifications], employed to self- employed)  Income – return on labour, rents, dividends, transfer payments (social security).

 Market focus again  Markets, government, types of markets,  government intervention,  rights and responsibilities of consumers and businesses,  types of businesses,  Influences on ways of work

 Global links –  economy, economic system, Asia, global economy, interdependence (economic, political, cultural,)  international trade,  financial risks,  competitive advantage and offshoring,  cost-benefit analysis  Roles and responsibilities in the workplace

 GDP,  economic performance,  criteria – efficiency, equity, externality,  living standards, variable living standards and economic development, economic management,  productivity, economic growth,

 Economics Texts for Yr 11 and 12 e.g. Economics for the Real World, Cave et al, Pearson/Cengage,  Texts written for E and B – CUP, Jacaranda, Pearson etc.  Texts written for the Victorian VELS 7-10 course (E & B resembles the existing vELS course to some extent

 Economics teacher/s in your school If Economics is offered)  Teachers trained in Economics, but not teaching the subject  QETA – will have some resources available but will be in a password protected environment.  Ed Qld C2C Curriculum (available on Scootle for non-gov’t schools, although copyright materials may be an issue)

 So many available it is difficult to find them at timesYou Tube – over 5 million Economics videos  Some sites such as Financial Basics and ESSI Money, CBA Financial Literacy materials, ASIC Smart Money site, RBA, Bank sites provide financial references

 TES – Australian site, free but you must register to use the site   EconEdLink – US site – has thousands of lessons, can be searched via year levels or concepts etc. Must join – it’s free too!   BIZ ED – UK site – free, no need to join. Mainly senior secondary but has some useful videos/simulations etc.. 

 Sharing with other teachers and schools  BEAQ/QETA role in this?  BEA may have some sharing of materials as well.

 Questions?  Discussion?

 School approaches will be many and varied  Range from subject specific to integration with other subjects (planned or unplanned)  Need to share approaches that schools adopt to the Curriculum?