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

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

Video

My Five Cents: Why investing can be risky

Planning to get rich quick by investing one day? Before you jump in, let Gen Fricker explain some of the risks involved with different types of investments. Then test yourself with ASIC MoneySmart's "Things to think about" classroom exercises.  

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 ...

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

My Five Cents: What is compound interest?

Compound interest will be one of the most important things you ever learn. Don't believe it? Gen Fricker will explain why. Learn how compound interest works, and why saving now can help you later. Game changer! Then test yourself with ASIC MoneySmart's "Things to think about" classroom exercises.

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

My Five Cents: What is opportunity cost?

What is the true cost of buying something? Gen Fricker explains that it's more than just money. Learn about opportunity cost - what it is, why it's a helpful tool and when to use it. Simple! Then test yourself with ASIC MoneySmart's "Things to think about" classroom exercises.  

Online

MoneySmart: How teachers can use MoneySmart

This MoneySmart web page is designed to enable teachers to get the most out of ASIC's MoneySmart Teaching program and resources. It guides teachers on where to find information on being a MoneySmart teacher, professional development for teachers, primary and secondary teaching resources, and tips and tools to help with ...

Interactive

MoneySmart: Teaching resources for VET

ASIC's Be MoneySmart is an online training resource for VET students and senior high school students. It helps students to develop money management skills which support their future careers in small business or as contractors. It consists of five online modules: Saving, budgeting and spending; Personal tax; Superannuation; ...

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 ...

Video

My Five Cents: Why borrowing can cost you more

Think credit cards are basically free money? Gen Fricker will make you think again. Learn how interest rates and fees affect the money you borrow, and why they may be more expensive in the long run. Oh dear! Then test yourself with ASIC MoneySmart's "Things to think about" classroom exercises.  

Interactive

MoneySmart: MilbaDjunga - how can I start my own business?

The MilbaDjunga secondary unit 'How can I start my own business?' is an interactive online unit developed to support teachers of Aboriginal and Torres Strait Islander students to teach consumer and financial literacy. It leads students through a step-by-step process to start a small business and is accompanied by teacher ...