Be Moneysmart (Module 5): Insurance

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Year level 9-VET Young adults Economics and business

Launch digiactivity

Students investigate car, home and content insurance and learn how to choose the right type of insurance and level of cover.

Learning outcomes

Students:

Students work through Module 5 online and explore the challenges related to selecting the right type of insurance and level of cover using two case studies (John and Will) and some activities from the Student Workbook. By examining the impact of unexpected life events on these characters, the importance of insurance in managing finances is revealed to students.

Curriculum alignment

Year 9

Learning area: Economics and Business

Content descriptions

Strand: Knowledge and Understanding

  • Why and how people manage financial risks and rewards in the current Australian and global financial landscape (ACHEK040)

Strand: Economics and Business Skills

  • Sub-strand: Questioning and research
    • Gather relevant and reliable data and information from a range of digital, online and print sources (ACHES044)
  • Sub-strand: Interpretation and analysis
    • Analyse data and information in different formats to explain cause-and-effect relationships, make predictions and illustrate alternative perspectives (ACHES045)
  • Sub-strand: Economic reasoning , decision-making and application
    • Generate a range of viable options in response to an economic or business issue or event, use cost-benefit analysis and appropriate criteria to recommend and justify a course of action and predict the potential consequences of the proposed action (ACHES046)
    • Apply economics and business knowledge, skills and concepts in familiar, new and hypothetical situations (ACHES047)
  • Sub-strand: Communication and reflection
    • Reflect on the intended and unintended consequences of economic and business decisions (ACHES049)

Year 10

Learning area: Economics and Business

Content descriptions

Strand: Knowledge and Understanding

  • Factors that influence major consumer and financial decisions and the short- and long-term consequences of these decisions (ACHEK053)

Strand: Economics and Business Skills

  • Sub-strand: Questioning and research
    • Gather relevant and reliable data and information from a range of digital, online and print sources (ACHES056)
  • Sub-strand: Interpretation and analysis
    • Analyse data and information in different formats to explain cause-and-effect relationships, make predictions and illustrate alternative perspectives (ACHES057)
  • Sub-strand: Economic reasoning, decision-making and application
    • Generate a range of viable options in response to an economic or business issue or event, use cost-benefit analysis and appropriate criteria to recommend and justify a course of action and predict the potential consequences of the proposed action (ACHES058)
    • Apply economics and business knowledge, skills and concepts in familiar, new and hypothetical situations (ACHES059)
  • Sub-strand: Communication and reflection
    • Reflect on the intended and unintended consequences of economic and business decisions (ACHES061)

General capabilities

Level 6: Typically, by the end of Year 10, students:

  • Literacy:
    • navigate, read and view a wide range of more demanding subject- specific texts with an extensive range of graphic representations
    • listen to a range of extended spoken and audio texts and respond to, interpret and evaluate ideas, information and opinions
    • interpret and evaluate information within and between texts, comparing and contrasting information using comprehension strategies
    • use comprehensive knowledge of the structure and features of learning area texts to comprehend and compose complex texts in innovative ways, using conventions for citing others
  • Numeracy:
    • evaluate financial plans to support specific financial goals
  • ICT:
    • use advanced search tools and techniques or simulations and digital models to locate or generate precise data and information that supports the development of new understandings
    • select and use ICT to articulate ideas and concepts, and plan the development of complex solutions
    • select and use a range of ICT tools efficiently and safely to share and exchange information, and to collaboratively and purposefully construct knowledge
  • Critical and Creative Thinking:
    • clarify complex information and ideas drawn from a range of sources
    • assess risks and explain contingencies, taking account of a range of perspectives, when seeking solutions and putting complex ideas into action
    • identify, plan and justify transference of knowledge to new contexts
    • evaluate the effectiveness of ideas, products and performances and implement courses of action to achieve desired outcomes against criteria they have identified
  • Personal and Social Capability:
    • assess their strengths and challenges and devise personally appropriate strategies to achieve future success
    • establish personal priorities, manage resources effectively and demonstrate initiative to achieve personal goals and learning outcomes
    • develop and apply criteria to evaluate the outcomes of individual and group decisions and analyse the consequences of their decision making