Economics and business / Year 9 / Economics and Business Knowledge and Understanding

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Curriculum content descriptions

Why and how people manage financial risks and rewards in the current Australian and global financial landscape (ACHEK040)

Elaborations
  • explaining the role of banks and other deposit-taking institutions (for example, credit unions or building societies, in collecting deposits, pooling savings and lending them to individuals and business)
  • identifying financial risks such as scams and identity theft
  • investigating different types of investment that enable people to accumulate savings for the future (for example, shares, term deposits, managed funds)
  • debating the difference between good and bad debt, how to manage debt, the risks of over-indebtedness, and the importance of having a savings buffer
  • identifying ways consumers can protect themselves from risks (for example, through setting financial goals, insurances, savings, investments, diversification, scam avoidance and superannuation)
  • explaining the financial landscape of Australia and overseas and the forces that shape and affect the financial industry (for example, financial deregulations, technological changes, economic and business activities, consumer and business sentiment about the financial landscape)
General capabilities
  • Critical and creative thinking Critical and creative thinking
  • Personal and social capability Personal and social capability
  • Ethical understanding Ethical understanding
ScOT terms

Personal finance,  Insurance,  Bad debts,  Financial institutions,  Business forecasting,  Risk management

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