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 ways that governments manage economic performance to improve living standards (ACHEK052)

Elaborations
  • identifying examples of fiscal and monetary policy options designed to improve the standard of living, such as productivity policy, training and workforce development, taxation, work visas, migration, buying or selling government securities
  • identifying examples of government intervention that aim to redistribute income (for example, pensions, youth allowance and job search), and goods and services such as health care and education
  • investigating how Australia supports economic growth in the Asia region through participating in the Asia-Pacific Economic Cooperation (APEC) forum
  • explaining the impact of minimum wage, government payments, taxation and government-funded services on living standards
  • identifying examples of externalities (that is, costs or benefits associated with the production or consumption of goods and/or services that affect the wellbeing of third parties or society more generally) and exploring the ways governments can influence or regulate these impacts to ensure prices reflect external costs
General capabilities
  • Ethical understanding Ethical understanding
ScOT terms

Government policy,  Social indicators,  Business cycles

Moving Image

Exploring the production and marketing of seafood: producer video

This is a video about how wild-caught lobsters are processed for export and barramundi are farmed in two South Australian businesses. The first part is presented by Andrew Laurie, the owner of Sky Seafoods, who shows the work of the lobster fishermen who supply him and how the lobsters are processed. He describes how sustainability ...

Text

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

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 ...

Video

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 ...