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Economics and business / Year 10 / Economics and Business Knowledge and Understanding

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

Video

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 ...

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.

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Water and human wellbeing

This is an online resource about water availability on Flores, an Indonesian island, highlighting the importance of access to sufficient safe drinking water for the wellbeing of a community. It describes a project carried out by a partnership between AusAID, World Vision and local communities, to provide access to a plentiful ...

Online

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.

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Urbanisation and human wellbeing

This is an online resource looking at Jakarta, the capital of Indonesia, as an example of a megacity. It considers change and growth in Jakarta, reasons for urbanisation and examines some of the problems facing megacities such as inequality of wealth, as well as those specific to Jakarta, particularly its vulnerability ...

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Interconnections and human wellbeing

This is an online resource exploring the interconnections between Australian consumers and Indonesian cashew farmers, with cashews grown by farmers on Flores, a remote Indonesian Island, eventually sold for a high price in Australia. It looks at the role of World Vision Indonesia in helping farmers to carry out a market ...

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The Conversation: class in Australia collection

This collection of short articles critically examine the topic of class in Australia, asking whether it exists and examining relationship between class and aspects such as health, where you live, gender, income inequality and others. The articles support student investigations and in-depth studies of issues relevant for ...

Online

Activity: a global crisis?

This is a web resource about the availability of fresh water in Australia and other countries that includes a student activity accompanied by a teacher guide providing background information and a lesson plan. A student worksheet provides activity instructions and a lotus diagram for the students to complete. The activity ...

Interactive

Making a difference

This resource consists of four case studies which explore stories that illustrate issues of civics and citizenship at local, state, federal government and international levels. Students learn about active citizenship and plan their own, while covering content such as the Freedom Rides, Franklin Dam, Mabo, Wik and human rights.

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Protocol framework for urban design

This is a rich resource about the Urban design protocol for Australian cities. The resource describes the protocol, including the aims, the five pillars on which it is founded, and how the protocol relates to the National urban policy goals and objectives of productivity, sustainability, liveability and governance. The ...

Interactive

Dollar street

This is an interactive resource about the different standards of living of people at different levels of wealth. It shows a street containing photo-panoramas from households at different income levels in Mozambique, South Africa and Uganda. The user can choose the level of income ranging from $1-2 per day to over $100 per ...

Online

Data in Gapminder world

This resource is a dataset providing data for a number of indicators of development over time for more than 200 countries. The indicators fall into the following categories: population, health, economy, environment, work, infrastructure, energy and education, with over 500 sets of data in total. Each set of data can be ...

Online

Life expectancy PowerPoint

This teacher resource is a PowerPoint presentation designed to address common student misunderstandings about life expectancy. It emphasises that life expectancy is an average, that most people live for much longer or shorter than their life expectancy and that, when life expectancy is low, it is mostly because of a very ...

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Design principles about place: productivity and sustainability

This is a multilayered resource that presents the 12 design principles of the Urban design protocol for Australian cities. The principles are presented in three sections and link to important information about the attributes of each of the principles. The principles about place are enhancing, connected, diverse and enduring ...

Online

Digital stories of Immigration

This is a rich collection of digital stories about people who have immigrated to Victoria. The resource is presented in three sections: Introductory information; Story Objects; and Story Education Resources. There are 21 Story Objects that include images, videos, links, information, interviews and transcripts. There are ...

Video

In My Blood It Runs: Connections to Country

First Nations communities have powerful connections with Country. These connections are reflected in spiritual narratives (sometimes referred to as Dreaming stories), which connect humans, animals, plants and minerals back to the creative spiritual forces who made the lands, seas and skies. Connections to Country form the ...

Video

BTN: China's internal migration

For decades China has experienced a mass migration of people from rural to urban areas. This large-scale movement of people is putting pressure on the resources and facilities of cities such as Shanghai. Watch this clip, first broadcast in 1993, to find out the reasons for China's internal migration and the challenges it ...

Text

The Conversation: the state of the Australian economy

This article describes the state of the Australian economy, beyond the story of budget crisis. It is authored by an economics professor and is in plain language. The article provides links to a further collection of articles discussing the state of Australia from different political and social viewpoints.

Interactive

What house is that?

This is an interactive streetscape of nine houses, each from a different era and of different styles. They represent the nine main housing styles in Victoria. Information about each of the houses includes: features and style; the Architect; designers; historical observations; house owners; and general social history of ...

Video

Tour of NSW Government House

This resource is a YouTube playlist containing a series of videos taken as a group of senior high school students are given a guided tour of NSW Government House in 2010. The tour covers primary sources such as architecture, furniture and images significant to the history of Australia and NSW.