Mathematics / Year 7 / Number and Algebra / Money and financial mathematics

Curriculum content descriptions

Investigate and calculate 'best buys', with and without digital technologies (ACMNA174)

Elaborations
  • applying the unitary method to identify ‘best buys’ situations, such as comparing the cost per 100g
General capabilities
  • Literacy Literacy
  • Numeracy Numeracy
  • Critical and creative thinking Critical and creative thinking
  • ICT capability Information and Communication Technology (ICT) capability
ScOT terms

Proportions,  Purchasing,  Unit cost

Video

My Five Cents: What is opportunity cost?

What is the true cost of buying something? Gen Fricker explains that it's more than just money. Learn about opportunity cost - what it is, why it's a helpful tool and when to use it. Simple! Then test yourself with ASIC MoneySmart's "Things to think about" classroom exercises.  

Video

Comparing fuel consumption

Is it more fuel efficient to drive or fly between two places? Watch this clip and learn how to calculate the answer. What are the various factors that need to be taken into account? This video was made using the American measurement of gallons per hour, American firgures for the average number of passengers in a car and ...

Interactive

Fish market: explore trading

Buy and sell fish in trading markets in a range of Australian and New Zealand cities. Compare market prices, supply and demand. Explore a range of traders to find the best deals and open up new markets. Find a rare fish. Maximise your profit and reputation as a smart trader. This learning object is the first in a series ...

Online

Practical numbers: Part 2

In this lesson we use the context of an ancient bazaar to investigate measurement systems. Students select a name and base number for their system of measurement, using weights made from clay or similar material. They divide their clay into possible unit fractions to generate their set of weights. They assign a fictional ...

Online

Estimating and rounding decimals

In this lesson, students draw on prior knowledge of rounding whole numbers to develop their understanding and fluency when rounding decimals and are encouraged to reason and problem-solve through a variety of contextual activities. Students will also develop an appreciation of the role of estimation in mathematics and science.

Online

Graphs: formulas and variables

In this lesson, students use algebra and linear equations to model two real-world scenarios to find information to make the best choice. Students set the aim of saving for a mobile phone (or similar goal) and use linear equations to model the pay rates of two part-time jobs to help make the better decision. This lesson ...

Online

Tax, Super + You

Tax, Super + You is designed to provide teachers and parents with practical resources to help students in Years 7-12 understand the value of tax and superannuation, and have confidence when entering the workforce. Registration for a free account is required to access the full suite of materials.

Video

Algebraic equations: video and teaching guide

This video uses an everyday scenario of three people sharing a taxi ride to explore algebraic thinking, and to apply that thinking to a financial context, drawing on reasoning and mathematical modelling. Use the video with the supporting teacher guide as a springboard to explore mathematical concepts. The teacher guide ...

Online

Mathematical modelling (Number): Year 7 – planning tool

This planning resource for Year 7 is for the topic of Mathematical modelling. Students use knowledge of the other topics in the Number strand, so that applying knowledge and skills can be modelled. This can be done in groups or as a whole class, as well as individually. Collaborative learning works well for practical problems.

Video

Proportional reasoning video

Use this video as a springboard to explore scaling or proportional thinking, and to apply that thinking in a food context, drawing on reasoning and mathematical modelling.

Downloadable

The wide wide world of sports betting

This lesson explores the difference between perfectly predictable events (like the roll of a die) and less certain events (such as sports). Students investigate mathematically how sports bookmakers create odds to guarantee themselves a profit and pay gamblers less for a win than they deserve. The lesson is outlined in ...

Online

Practical numbers: Part 1

In this lesson, students explore standardised measuring systems. They encounter the challenge of a shopkeeper who must determine how to weigh different quantities of spices most efficiently. Working in a financial context, students model this scenario using fractions, percentages and ratios, and communicate their solution ...

Text

7N05A Percentages - Ochre Education

This unit of work focuses on percentages. Students represent percentages, including percentages greater than 100%; convert between decimals, fractions, and percentages; write one number as a percentage of another (including where the percentage is greater than 100%) and find a percentage of a number (including using percentages ...

Video

How does income tax work?

Gen Fricker makes income tax interesting! Learn about income tax - what it is, how it works and when you have to pay it. Easy-peasy! Then test yourself with ASIC Moneysmart's "Things to think about" classroom exercises.

Video

MathXplosion, Ep 50: How to use a tetrahedron to solve the tree problem

How can you place four trees exactly the same distance apart from one other? By making a model! By using miniature trees to make a model of the problem, it becomes clear that a 2D solution is impossible. We learn how objects can help us visualise the problem situation, which in this case requires a 3D solution: a tetrahedron.

Online

Literacy and numeracy improvement: a whole-school approach

This teacher resource describes how 74 public schools in metropolitan, regional and rural Western Australia used three major components of the school improvement cycle to achieve significant improvement in the literacy and numeracy learning outcomes of their students. The resource is organised in nine sections: Summary, ...

Online

reSolve: Paint with Numbers

This sequence of three lessons explores ratios through the context of mixing paint. Students investigate how ratios express a multiplicative relationship between two measures and under what conditions the proportions remain constant when the numerical values of both quantities change. The lessons are outlined in detail ...

Interactive

Multiplication of decimals by a whole number

This is a four-page HTML resource about solving problems concerning the multiplication of decimals. It contains one video and four questions, two of which are interactive. The resource discusses and explains solving problems involving multiplying a decimal by a whole number to reinforce the students' understanding.

Interactive

Converting decimals to percentages

This interactive resource consists of a series of questions about converting decimals into percentages. The viewer is required to convert a decimal number into a percentage and enter the answer in a window on the screen. The answer can be checked and, if correct, the viewer moves to the next question. Help is available ...

Interactive

Rounding decimals

This is a six-page HTML resource about solving problems concerning rounding. It contains one video and eight questions, four of which are interactive. The resource discusses and explains solving problems with rounding of decimals to reinforce students' understanding.