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WS01 - Managing financial risks and rewards

Humanities and Social Sciences, Economics and Business, Year 9

By the end of Year 9, students explain the role of Australia’s financial sector and its effect on economic decision-making by individuals and businesses. They explain the interdependence of participants in the global market and the effect on economic decision-making. They explain the reasons for trade and Australia’s pattern of trade with Asia. They explain why businesses seek to create and maintain a competitive advantage. Students explain how individuals and businesses manage consumer and financial risks and rewards.  

 

Students develop and modify questions to investigate an economic and business issue. They locate, select and analyse information and data from a range of sources. They interpret and analyse information and data to explain economic trends and cause-and-effect relationships, and identify consumer and financial impacts. They develop a response to an economic and business issue, taking account of economic, business or financial factors. They evaluate a response using criteria and make decisions about how it is to be implemented. Students use economic and business knowledge, concepts and terms to develop descriptions, explanations and arguments that acknowledge research findings. 

Knowledge and understanding

AC9HE9K05

how individuals and businesses manage consumer and financial risks and rewards

Skills | Questioning and researching

AC9HE9S01

develop and modify questions to investigate a contemporary economic and business issue

Skills | Interpreting and analysing

AC9HE9S03

interpret information and data, explaining economic and business issues, trends and economic cause-and-effect relationships, and make predictions about consumer and financial impacts

 

Skills | Evaluating, concluding and decision-making

AC9HE9S04

develop and evaluate a response to an economic and business issue, using cost benefit analysis or criteria to decide on a course of action

 

Skills | Communicating

AC9HE9S05

create descriptions, explanations and arguments, using economic and business knowledge, concepts and terms that incorporate and acknowledge research findings

 

Annotations

 

1. Develops different types of questions to investigate an economic and business issue. 

 

2. Uses relevant terms such as savings, investment, insurance and risk management strategies. 

3.  Identifies factors such as objectives and risk and return when determining the best option. 

 

4. Considers the client’s goals and explains options to increase the client’s level of savings. 

 

5. Presents ideas, data and information in a suitable format to support understanding; for example, a mind map or a table.

6. Explains the importance of following a process when making consumer and financial decisions. 

 

7. Uses subject-specific knowledge, such as managing risks and rewards, to explain decisions.  

 

8. Presents a proposal that relates advice to the factors considered. 

 

9. Evaluates the costs and benefits of each option, identifying a preferred option.