Humanities and social sciences / Year 5 / Knowledge and Understanding / Economics and business

Curriculum content descriptions

Influences on consumer choices and methods that can be used to help make informed personal consumer and financial choices (ACHASSK121)

Elaborations
  • identifying goods they have purchased and categorising and explaining factors that influence consumer purchasing decisions (for example, personal preferences, social trends, economic factors such as budgets and the amount of money available to spend; psychological factors such as advertising and peer pressure; cultural, environmental, legal and ethical factors)
  • comparing the influence of a variety of selling and advertising strategies used by businesses on consumer choices (for example, the influence of television and internet advertising compared to email promotions)
  • recognising that financial transactions can include the use of notes, coins, credit and debit cards, and barter items; explaining the advantages and disadvantages of the different transaction types; and considering how these may influence the way people purchase items
  • exploring the strategies that can be used when making consumer and financial decisions (for example, finding more information, comparing prices, keeping a record of money spent, saving for the future)
General capabilities
  • Numeracy Numeracy
  • Critical and creative thinking Critical and creative thinking
  • Personal and social capability Personal and social capability
  • Ethical understanding Ethical understanding
ScOT terms

Personal finance,  Consumer sovereignty

Online

MoneySmart: Never too young to be MoneySmart with clothes

In ASIC's MoneySmart Teaching Never too young to be MoneySmart with clothes students will investigate the influences on 10 to 12 year old consumers when selecting clothes and accessories. Students will share stories about their choice of clothes and accessories and what influences them when making purchases. They will collect ...

Interactive

MoneySmart: Party time

This learning object helps students to create a simple financial plan. Students create a plan for a party within an allocated budget. Students can choose between items of different values including food, drinks, decorations, entertainment and prizes. The learning object comes with teacher and parent notes.

Online

MoneySmart: Hey! Let's have a big day out!

This is a year 5 mathematics unit of work about costing and budgeting for various types of family outings. The unit is intended to take about 7.5 hours of teaching and learning time, and is recommended for near the end of the school year. It consists of an introduction, five sets of student activities, and teacher notes ...

Online

Needs verses Wants - Making Choices

This is a resource about consumer choices and the difference between needs and wants. It is presented as a teacher guide with learning activities that include making decisions about purchasing items based on available resources and defining and identifying needs and wants. The resource includes: learning outcomes; a description; ...

Text

Royal Australian Mint: learning

This website provides a range of resources and activities and activities for students and teachers about the history of Australian currency, the minting process and Australia's decimal currency. Of note is an interactive slideshow with high resolution images of currencies from Indigenous barter systems to modern Australian ...

Interactive

Australian coin history

This interactive slideshow from the Royal Australian Mint provides a series of high resolution images and brief descriptions of currencies from Indigenous barter systems to modern Australian currency. A downloadable fact sheet on Australian coin history is accessible from selected pages within the slideshow.

Online

Royal Australian Mint: units of work

This suite of teaching and learning units of work related to Australian currencies for middle and upper primary students. The units explore the role coins play in commemoration and the history of Australian currency from colonial times to post Federation. Lessons are supplemented with a range of cross-curriculum lesson ideas.

Interactive

Decimal currency

This interactive slideshow from the Royal Australian Mint provides a series of high resolution images and brief descriptions of the transition from pre-decimal to decimal currency in Australia.

Interactive

Fish market

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

Interactive

MoneySmart: Fun Day Out

This learning object helps students to create a simple financial plan. Students create a plan for a class excursion within a budget of $25.00 per head. Students choose between three excursions and then select items of different values including mode of travel, food and activities to keep within their budget. The learning ...

Interactive

MoneySmart: helping out

This is an activity about making choices to raise money for imaginary animals called gumbutangs. Their habitat is being eradicated and something must be done to save them. The user's first choice is between two websites, one a trusted one, the other a scam site. Then they are given choices about how to raise money for the ...

Online

Paying It Forward Years 5-6

This is a cross-curricular unit about the values that underpin Australia’s democracy, the freedoms they enjoy and their role and the role of the government as duty bearers of rights. Students learn to appreciate the role of volunteers and Australia’s three levels of government in supporting the community. Students will ...