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Year level 9-10 Shopping Sustainability Young adults Budgeting Mathematics Economics and business

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This teaching resource provides a problem-based challenge where students apply mathematical concepts using online calculators to make real-life budgeting decisions.

Using a hypothetical scenario, students investigate the concepts of earning money, taxation, budgeting, saving and compound interest.

Students learn to understand the value of money in terms of time, to see how ‘time’ equates to ‘money’. They also learn that sustainable choices can minimise household expenses.

Knowledge is embedded through quizzes and activities.

Curriculum alignment

Year 9

Learning area: Mathematics

Content descriptions

Strand: Number and Algebra

  • Sub-strand: Money and financial mathematics
    • Solve problems involving simple interest (ACMNA211)

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: Skills

  • Sub-strand: Economic reasoning, decision-making and application
    • 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: Mathematics

Content descriptions

Strand: Number and Algebra

  • Sub-strand: Money and financial mathematics
    • Connect the compound interest formula to repeated applications of simple interest using appropriate digital technologies (ACMNA229)

Strand: Statistics and Probability

  • Sub-strand: Data representation and interpretation
    • Investigate and describe bivariate numerical data where the independent variable is time (ACMSP252)

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: Skills

  • Sub-strand: Economic reasoning, decision-making and application
    • 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 (Year 9 & 10)

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
    • interpret and evaluate information within and between texts, comparing and contrasting information using comprehension strategies
    • use pair, group and class discussions and formal and informal debates as learning tools to explore ideas, compare solutions, evaluate information and ideas, refine opinions and arguments in preparation for creating texts
    • 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
    • use subject-specific vocabulary to express abstract concepts, and refine vocabulary choices to discriminate between shades of meaning
  • Numeracy
    • solve and model problems involving complex data by estimating and calculating using a variety of efficient mental, written and digital strategies
    • 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 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
    • analyse reasoning used in finding and applying solutions, and in choice of resources
  • Personal and Social Capability
    • develop and apply criteria to evaluate the outcomes of individual and group decisions and analyse the consequences of their decision making