AUSTRALIAN CURRICULUM ECONOMICS

Australian Curriculum What we know What we know The place of economics in the Curriculum The place of economics in the Curriculum Year levels Year levels A detailed analysis – what will we teach? A detailed analysis – what will we teach?

What we Know Curriculum Document is available but not endorsed pending Australian Government Review (Donnelly & Wiltshire) Curriculum Document is available but not endorsed pending Australian Government Review (Donnelly & Wiltshire) Implementation depends on QSA, systems and schools. Implementation depends on QSA, systems and schools. 2 strands – Knowledge & understanding; Skills 2 strands – Knowledge & understanding; Skills

What we Know Recommended time allocation in Years 5-8 is 30 minutes per week, or about 20 hrs per year. Recommended time allocation in Years 5-8 is 30 minutes per week, or about 20 hrs per year. How schools structure this is a school decision How schools structure this is a school decision Development of C2C materials by EQ may influence approach in EQ schools Development of C2C materials by EQ may influence approach in EQ schools

WHAT WE KNOW The Shape paper largely determines the nature of the curriculum The Shape paper largely determines the nature of the curriculum 4 broad areas: 4 broad areas: Resource allocation and making choices Resource allocation and making choices Business environment Business environment Consumer & financial literacy Consumer & financial literacy Work and work futures Work and work futures Year 7 in secondary school 2015 Year 7 in secondary school 2015

ECONOMICS Which of the four strands is relevant to Economics? Which of the four strands is relevant to Economics? Resource Allocations & Choices Resource Allocations & Choices Consumer & Financial Literacy Consumer & Financial Literacy Some parts of Business environments and parts of Work and work futures Some parts of Business environments and parts of Work and work futures Curriculum is not rich in elaboration Curriculum is not rich in elaboration

Australian Curriculum – Year level structure Year level description Year level description Key Questions Key Questions Content Descriptions (a) Knowledge and Understanding and (b) Economics and Business Skills Content Descriptions (a) Knowledge and Understanding and (b) Economics and Business Skills Year level Achievement level Standard. Year level Achievement level Standard.

Year 5 Key Questions Why do I have to make choices as a consumer? Why do I have to make choices as a consumer? What influences the decisions that I make? What influences the decisions that I make? What can I do to make informed decisions? What can I do to make informed decisions?

YEAR 5 CONTENT Needs, wants, choices about limited resources Needs, wants, choices about limited resources Types of resources and ways societies use them to satisfy needs and wants Types of resources and ways societies use them to satisfy needs and wants Influences on consumer choices and methods used to make informed decisions Influences on consumer choices and methods used to make informed decisions

Year 6 Key Questions Why are there trade-offs associated with making decisions? Why are there trade-offs associated with making decisions? What are possible effects of my consumer & financial choices? What are possible effects of my consumer & financial choices? Why do businesses exist and what are the ways they provide goods & services? Why do businesses exist and what are the ways they provide goods & services?

Year 6 Opportunity cost and alternate use of resources Opportunity cost and alternate use of resources Effects of consumer and financial decisions on individual, community & environment Effects of consumer and financial decisions on individual, community & environment Why businesses exist and ways they provide goods and services Why businesses exist and ways they provide goods and services

Year 7 Key Questions Why is there a relationship between consumers and producers in the market? Why is there a relationship between consumers and producers in the market? Why & How indiv & business plan to achieve goals? Why & How indiv & business plan to achieve goals? How does entrepreneurial behaviour contribute to a successful business? How does entrepreneurial behaviour contribute to a successful business? What types of work exist and how can people derive an income? What types of work exist and how can people derive an income?

Year 7 Consumers, producers and the market Consumers, producers and the market Characteristics of entrepreneurs and successful businesses Characteristics of entrepreneurs and successful businesses Why individuals & business plan to achieve personal. Organisational and financial objectives Why individuals & business plan to achieve personal. Organisational and financial objectives Why work, types of work, deriving an income Why work, types of work, deriving an income

Year 8 Key Questions Why are markets needed and why are govt’s involved? Why are markets needed and why are govt’s involved? Why do consumers and bus. Have rights & responsibilities? Why do consumers and bus. Have rights & responsibilities? What affects way people work now & in future What affects way people work now & in future How do different businesses respond to market opportunities? How do different businesses respond to market opportunities?

Year 8 Markets, government influence on markets Markets, government influence on markets Traditional ATSI markets and ATSI participation in today’s markets Traditional ATSI markets and ATSI participation in today’s markets Rights & Responsibilities of consumers & Businesses Rights & Responsibilities of consumers & Businesses Types of Businesses Types of Businesses Influences on way people work Influences on way people work

Year 9 Key Questions - elective How do participants in global economy interact? How do participants in global economy interact? Strategies to be used to manage financial risks and rewards? Strategies to be used to manage financial risks and rewards? How does creating a competitive advantage benefit business/ How does creating a competitive advantage benefit business/

Year 9 Aust. Economy and its place in Asia and global economy Aust. Economy and its place in Asia and global economy Why and how global economy participants are interdependent? Why and how global economy participants are interdependent? Why and how people manage financial risk in Aust and global financial landscape. Why and how people manage financial risk in Aust and global financial landscape. How to create and maintain a competitive advantage in global market How to create and maintain a competitive advantage in global market Roles & responsibilities in changing Aust/global workplace Roles & responsibilities in changing Aust/global workplace

Year 10 Key Questions - elective How is performance of an economy measured? How is performance of an economy measured? Why do variations in economic performance happen in different economies? Why do variations in economic performance happen in different economies? What strategies do govts use to manage the economy? What strategies do govts use to manage the economy? How do indiv, bus, govts respond to changing economic conditions How do indiv, bus, govts respond to changing economic conditions

Year 10 Indicators of economic performance, and how Aust is performing Indicators of economic performance, and how Aust is performing Links between performance and living standards, within & between economies, and causes Links between performance and living standards, within & between economies, and causes Ways governments manage the economy Ways governments manage the economy Factors that influence major consumer and financial decisions Factors that influence major consumer and financial decisions Ways businesses organise to improve productivity and respond to changing economic conditions Ways businesses organise to improve productivity and respond to changing economic conditions

Activity Select one of Year 7, 8, 9, 10 and Select one of Year 7, 8, 9, 10 and Examine Content descriptions and develop elaborations for these. Examine Content descriptions and develop elaborations for these. Select either Year 5 or Year 6. What would you advise primary teachers they need to teach? Select either Year 5 or Year 6. What would you advise primary teachers they need to teach?