Rookie: Credit and debt (Educator guide)

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Year level 9-12 Budgeting Young adults Economics and business Mathematics English

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Moneysmart’s Rookie series helps young people avoid expensive mistakes or 'rookie errors' when they make their first financial decisions. 

In 'Credit and debt', students learn about various ways to borrow money, the associated risks and where to go for financial help.

Learning outcomes

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: 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)

Learning area: Mathematics

Content descriptions

Strand: Number and Algebra

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

Learning area: English

Content descriptions

Strand: Language

  • Sub-strand: Text structure and organisation
    • Understand that authors innovate with text structures and language for specific purposes and effects (ACELA1553)

Strand: Literacy

  • Sub-strand: Interacting with others
    • Listen to spoken texts constructed for different purposes, for example to entertain and to persuade, and analyse how language features of these texts position listeners to respond in particular ways (ACELY1740)
    • Use interaction skills to present and discuss an idea and to influence and engage an audience by selecting persuasive language, varying voice tone, pitch, and pace, and using elements such as music and sound effects (ACELY1811)

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: 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
    • Present reasoned arguments and evidence-based conclusions in a range of appropriate formats using economics and business conventions, language and concepts (ACHES060)
    • Reflect on the intended and unintended consequences of economic and business decisions (ACHES061)

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
    • Identify everyday questions and issues involving at least one numerical and at least one categorical variable, and collect data directly and from secondary sources (ACMSP228)

Learning area: English

Content descriptions

Strand: Language

  • Sub-strand: Language for interaction
    • Understand how language use can have inclusive and exclusive social effects, and can empower or disempower people (ACELA1564)

Strand: Literature

  • Sub-strand: Responding to literature
    • Analyse and explain how text structures, language features and visual features of texts and the context in which texts are experienced may influence audience response (ACELT1641)

Strand: Literacy

  • Sub-strand: Interacting with others
    • Use organisation patterns, voice and language conventions to present a point of view on a subject, speaking clearly, coherently and with effect, using logic, imagery and rhetorical devices to engage audiences (ACELY1813)

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 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 problems involving fractions, decimals, percentages, ratios and rates
    • 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
    • select and use a range of ICT independently and collaboratively, analyse information to frame questions and plan search strategies or data generation
    • 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
    • pose questions to critically analyse complex issues and abstract ideas
    • 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
    • give reasons to support their thinking, and address opposing viewpoints and possible weaknesses in their own positions
    • use logical and abstract thinking to analyse and synthesise complex information to inform a course of action
    • evaluate the effectiveness of ideas, products and performances and implement courses of action to achieve desired outcomes against criteria they have identified