1. Financial mathematics in the Victorian Curriculum Mathematics 7-10
Welcome to everybody
Who is present – who to ask questions -
Shane O’Connor
Program Manager: Financial Numeracy
David Leigh-Lancaster
Curriculum Manager: Mathematics

2. Agenda Background – Financial mathematics Video - recommended
Vic F-10 Curriculum – Mathematics Curriculum Mapping Templates
Level 7, 8, 9 and 10 Activities – MoneySmart Teaching Units
Professional Learning
VCAA Mathematics – Sample Year 7 Program
VCAA Mathematics – external resources
Other resources
Questions
Will not be showing the video but I recommend it as a starter stimulus…considerable numeracy in the video and it sets the scene for using a financial context for numeracy skill development

3. Some key terms and ideas
What really is financial numeracy/capability?
The development of young people’s level of financial understanding, skills and confidence allowing them to make effective decisions throughout their lives

4. Why concentrate on financial mathematics?
The financial context for developing mathematical skills is:
Financial mathematics is easily linked to many skills including:
problem-solving
investigation skills
ENGAGING
RELEVANT
APPLIED
MEANINGFUL

5. Video 1: Money makes the world go around
Don’t worry about recording the link details. Today’s presentation will be up on the VCAA website soon…in the professional learning section (we will show where this is later in our session today)

6. Lets all go to the VCAA website - http://www.vcaa.vic.edu.au/
Will give you a moment to get there. If you cannot don’t worry…the steps to our destinations will be on the screen shortly will be part of the online presentation in Professional Learning soon
Click on Educators

8. Activities
A look at four financial numeracy/capability units of work from the MoneySmart Teaching (MST) suite of activities for Mathematics 7-10
All are mapped to the Mathematics content of the Victorian F-10 Curriculum, Levels 7-10
There are 22 individual MST activities for use by teachers across Levels 7-10, and 50 across Levels F-6. All have Solutions section
The activities today are selected examples – teachers are encouraged to also work through the other activities
The links to the relevant content descriptions from the strands will be highlighted
Today we will be working through these five points

9. Example activities from MoneySmart Teaching Mathematics Units of Work Years 7-10
Maths Level
Unit of Work
Activity Number
Focus 7
How can we reduce our spending?
Activity 1
Mental calculations, Ratios
Multiplication, Division, PMI 8
How can we access money overseas?
Activity 2
Mental calculations, Problem solving
Ratios, Decimals, Division, Multiplication 9
How can we obtain more money?
Surveys, Percentages, formula writing,
Multiplication, Linear relationships in a graph, 10
Reaching goals: What’s involved?
Activity 4
Fractions, compound interest, inflation over time, depreciation over time
Have link to MST site ready to go

10. MoneySmart - ASIC MoneySmart Teaching Resources www.moneysmart.gov.au
If you can go to this site…but don’t worry as I will walk you slowly through a couple of pages…and the screen shots to get there will be on the online record of this afternoon’s session

12. All units have an assessment rubric
Units of work for Levels 7-10 Maths
Levels 7-8 Science and Levels 9-10 English
Go back to Powerpoint now…then click again through the steps to find the MST resources before starting the look at the Level 7 Activity

13. Level 7 - How can we reduce our spending? – Teacher Notes
Each Activity has a little scene setting scenario for a ‘starter stimulus’ – this is a brief outline in Teacher Notes (there are comprehensive Teacher Notes for all activities…with accompanying worksheets, resources and of course Solutions!)

14. Mental calculations – Worksheet 1
These are just a selection of the tasks within each activity
Lets have a go at this one…first person to send in the answer to numbers 2, 4 and 6…Go! Answers are Q.2 – 4 cricket bats for $150 Q.4 – 1 mobile phone $1.75 Q g for $2
Note – these tasks are to be completed without any computational aids

15. Written calculations– Worksheet 2
An example is given to support the student then a WRITTEN answer…literacy and numeracy go hand in hand.

16. Written calculations – Worksheet 2

17. PMI Table – Worksheet 3
A PMI table gives an applied learning aspect to what the numeracy skills have discovered…apply learning to the real world…and express a numeracy outcome in a literacy context

18. Level 8 - How can we access money overseas?–Teacher Notes
Now an example from the Level 8 Mathematics unit of work…begins with a scenario…scene setter!
Note: this unit of work focuses on the contrast with Australian currency (dollars) and Japanese currency (yen) BUT I recommend your overseas examples etc are the same as the country that your Yr 8 language/s focuses on.

19. Fully worked example

20. Another worked example – this time needing decimal values

21. Time for you to work…first person to supply answers to these 2 tasks…which person gained better value in Both questions??? John and Harish

22. Was Maria right to be concerned about Joanne’s trade Yes George’s 5 carrots traded for an equivalent of 5 carrots for 15 eggs – a ratio 0f 1:3, Mario’s ratio was the equivalent of 1: 2.5

23. Level 9 - How can we obtain more money? - Teacher Notes
Now let us look at Level 9 activity – first the scenario , and why not have a class discussion (literacy) first

24. Level 9 - How can we obtain more money? Teacher Notes
Worksheet 1
Based on part time employment…many Yr 9 students will relate to this. These activities are all Word documents so you are free to not only copy these tasks (no copyright problem) or change the example…e.g. Put in a local employment name etc. You can change the numerical values as well if needed. OK …what is the answer to question a. 111….(Sunday rate per hour) = $$28 per hour - just noted the error there with the numbering

25. Note formula writing task

26. Graph construction task

27. Formula writing

29. Level 10 – Reaching goals: What’s involved? - Teacher Notes
Now Level 10 …first the scenario

30. Worksheet 5
When this task was written the inflation rate was about 3.5%...currently its more like 2.0%...the Reserve Bank of Australia tries to maintain it between a range of 2% - 3%...If you want to you can make the inflation values in this unit of work more realistic by altering them to about 2%...remember this will alter the Solutions!

31. Inflation…compounding positively

32. ______________________________________________________________
1. Suppose Dinuka found another computer for sale that was already 3 years old. In other words, it had already depreciated over the past 3 years and its current price was $500.
If this computer also depreciates in value at a rate of 16% p.a., how much will it be worth when she plans to sell it in 2 years’ time?
______________________________________________________________
Find Dinuka’s expected loss when she sells this second-hand computer.
How does this loss compare to the loss she would incur if she bought the more expensive computer in the example above?
Why do older items depreciate more slowly than newer items?
e. Suppose Dinuka bought this cheaper computer and sold it in 2 years’ time, and put the price difference of $1100 into a bank account that pays 5% compound interest p.a.
i. How much money will she have in 2 years’ time (note: include the sale price of her computer and the amount she will have in her bank account)?
_______________________________________________________________
Depreciation – compounding negatively

33. Next slide is return to the VCAA website – get this ready
Inform teachers there is a Solutions section for the MoneySmart Teaching units of work from F-10

34. Completing all the activities in the Level 8 Mathematics Unit from MST can be mapped similarly to this
Note – the content descriptions are Vic Curriculum coded
Three sub strands of the Number and Algebra Strand are linked to the activities
Note – completion of these activities would be a suitable means of progressing the completion of the achievement standards for Level 8 Mathematics in the Number and Algebra Strand. However, as we all recognise achievement demonstrated on multiple occasions is needed

35. Professional Learning
Lets check out recent Mathematics professional learning
Go to VCAA website – select Educators

36. MATHEMATICS SAMPLE PROGRAM 7–10
Sample programs are being developed as an example to illustrate how the Mathematics curriculum could be organised into a teaching and learning program. A revised Mathematics sample program has been developed and will soon be published on the VCAA website.
Teachers are advised that this sample program provides comprehensive coverage of content descriptions from the three strands of the Mathematics curriculum and is sequenced to develop knowledge and skills; however, there are other ways that the curriculum content can be arranged to suit the learning needs of students.

37. The revised Mathematics 7-10 programs may look similar to this one that has been on the website as a guide this year.
Next slides will show you how to find it

38. What else is there for you to support your programs??

39. VCAA Victorian Curriculum F-10 Mathematics – External resources
Disclaimer
The VCAA does not endorse third-party providers, products or services. The information about these products has been supplied by the commercial provider and thus the VCAA accepts no responsibility for the accuracy of this information.
The inclusion of the following links is for teacher reference purposes and does not constitute VCAA endorsement of the views and/or materials contained on these sites.

40. Tax, Super + You https://www.taxsuperandyou.gov.au
A relatively new resource comes from the Australian Taxation Office – especially designed to support teaching and learning related to financial literacy/numeracy/capability

41. Consumer Affairs Victoria
Other resources
Consumer Affairs Victoria
The Maths resource is comprised of units of work on budgeting, buying things, paying bills (such as phone bills), credit, and loans.
Start Smart
A national financial education program offered in schools and vocational education institutions to build the financial capability of children and young people.
In , Start Smart was delivered to more than
500,000 school students from Year 1 through to
Year 11, and a further 50,000 vocational education
students.
We are now out of the VCAA website. The following are a number of providers/resources that offer some level of support for the teaching and learning related to financial literacy. There are numerous other resources

42. Commonwealth Bank Teaching Awards
Recognise the innovative ways teachers work to improve their students’ money management skills.
Award recipients receive $10,000 to establish or expand an existing financial education program in their school, and $2,000 as a personal reward.
$20 Boss
An in-school challenge, run by teachers and schools, that provides students with $20 of start-up money to create their own business.

43. Beyond Bank Australia
A financial education program for students in Years 5, 6 and 7.
‘More than money’ is delivered by teachers over 4-5 weeks utilising an online resource platform, linked with key learning areas. The program covers life skills such as goal setting, working for an income, saving and budgeting.
Students undertake jobs at home, school or in the community, earning a fictional income to buy pre-arranged rewards on program completion.
There are now 226 schools teaching the program, with over 9,000 students enrolled.

44. Hume Bank
A financial literacy program for schools in south-eastern New South Wales and north-eastern Victoria since 2004.
The program includes school banking, competitions to promote regular saving, financial literacy talks to primary and secondary students and a primary activity book.
ESSI Money
An online virtual reality game for use with middle school children, primarily Years 8 and 9.
The game covers the areas of Earning, Saving, Spending and Investing (ESSI).

45. Contacts
For queries related to Financial Literacy/Numeracy, please contact: VCAA Program Manager: Shane O’Connor Telephone: (03) For queries related to the Victorian Curriculum Mathematics, please contact: VCAA Mathematics Curriculum Manager: Dr David Leigh-Lancaster Telephone: (03)