Economics and business / Year 10 / Economics and Business Knowledge and Understanding

View on Australian Curriculum website Australian Curriculum, Assessment and Reporting Authority
Curriculum content descriptions

The links between economic performance and living standards, and how and why variations exist within and between economies (ACHEK051)

  • defining ‘living standards’ and explaining its relationship to economic performance
  • exploring the factors that can explain the variations in economic performance within or between economies (for example, high levels of foreign ownership, employment rates, levels of debt)
  • investigating economic performance and living standards and discussing how they can mean different things to different people and countries
  • investigating the ways living standards can be measured (for example, gross domestic product (GDP), Human Development Index (HDI) or total quality of life index)
  • investigating the ways in which income and wealth are distributed in the economy, using measures such as an income distribution histogram, the Lorenz curve or the Gini coefficient
General capabilities
  • Critical and creative thinking Critical and creative thinking
  • Ethical understanding Ethical understanding
ScOT terms

Living standards,  Business cycles,  Uneven development


Fair Trade resource page

This is a wide-ranging set of resources about the fair trade initiatives of the world-wide development agency Oxfam. The resources include eight frequently asked questions about fair trade; an article entitled 'What’s wrong with world trade?'; a 7 min video and a poster tracing fair trade coffee from Papua New Guinea and ...

Teacher resource

Trade and Investment at a Glance

Using an illustrated report from the Department of Foreign Affairs and Trade, this Teacher guide provides ten learning sequences that engage students in the analysis and interpretation of data about Australian imports and exports. Students: identify Australia's major exports and imports; investigate international trade ...

Teacher resource

MoneySmart: Reaching goals: What's involved?

This unit of work students learn about financial planning through the characters Cathy and Dinuka who are Year 10 students planning to go on a holiday together at the end of Year 12. Students learn about goal setting, saving, borrowing, investing, working with compound interest, good and bad credit, depreciation and inflation.

Moving Image

MoneySmart Teaching videos

ASIC's MoneySmart Teaching videos is a suite of consumer and financial literacy videos focusing on five areas. Teacher professional development videos featuring experts, teachers, principals and kids discussing the importance and benefits of learning about money at school from an early age. Case studies focusing on interviews ...


Francis De Groot's sword, 2009

This clip reveals that when right-wing agitator Francis De Groot upstaged the 1932 opening of the Sydney Harbour Bridge and sliced through the ceremonial ribbon, the antique sword he wielded cemented its place as an Australian national treasure. The clip is an excerpt from 'Francis De Groot’s sword', an episode from the ...