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

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

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 ...

Online

Australia's Trade through Time

Using an interactive timeline created by the Department of Foreign Affairs and Trade, this Teacher guide provides 12 series of learning experiences that engage students in the analysis and interpretation of data about Australian trade from 1900 to the present day. Students study videos, tables, images and texts in order ...

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.

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.

Video

Foreign Correspondent: Myanmar - dictatorship to democracy?

Imagine living your whole life under a military dictatorship. The people of Burma (a country also known as Myanmar) have been living this way for about half a century. See how recent government reforms have opened up new freedoms for Burmese citizens and given the international community access to the country once again.

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 ...

Online

Trade and Investment at a Glance

Using an illustrated report from the Department of Foreign Affairs and Trade, this Teacher guide provides ten learning sequences that engage students in the analysis and interpretation of data about Australian imports and exports. Students: identify Australia's major exports and imports; investigate international trade ...

Text

Gender equality analysis from The Conversation

This is a collection of 40+ articles about gender equality. It includes articles about women in corporate leadership, work-life balance for men and women, policy responses to domestic violence in South Africa, the implications of gender bias in higher education, role of childcare in promoting equality and others. The articles ...

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 ...

Text

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 ...

Text

Food and human wellbeing

This is an online resource about two contrasting Indonesian islands, Bali and Sumba, highlighting the inequalities that exist within Indonesia. The resource compares the rice and rainforests of Bali with the corn and savannah grasslands of the more remote, and less wealthy Sumba, and examines each in terms of the challenges ...

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 ...

Text

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 ...

Text

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 ...

Text

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.

Text

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 ...

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 ...