Economics and business / Year 10 / Economics and Business Skills / Communication and reflection

Curriculum content descriptions

Reflect on the intended and unintended consequences of economic and business decisions (ACHES061)

Elaborations
  • discussing the outcomes of a decision, identifying those that were intended and unintended and reflecting on strategies that may address the unintended consequences
General capabilities
  • Critical and creative thinking Critical and creative thinking
  • Ethical understanding Ethical understanding
ScOT terms

Causality,  Decision making,  Criteria for success

Video

How to win at rock-paper-scissors

Find out how to win at rock-paper-scissors using game theory. According to this theory, how should you decide on your next move when you play multiple rounds? See if you can apply this theory in multiple rounds of rock-paper-scissors with someone. Did you win? |Why would this theory be useful in economics?

Online

From Citrus to almonds

This is a unit of work about the Australian almond industry. It contains a inquiry sequence that includes: background on the almond industry, a short case study of an Australian almond orchard that has transitioned from citrus to almonds; an data analysis activity exploring the growth of the Australian almond industry and ...

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

The Conversation: business strategies

This resource contains a series of explanatory articles about contemporary business strategy, innovation, and the digital economy. It can be used to develop a broad understanding of contemporary business strategy, innovation, and the digital economy.

Text

Investing

This lesson explores what investing is, different types of investments and their risks, how to invest safely and where to begin. The resource is part of a suite of lesson plans and activities from MoneySmart, designed to bring everyday financial topics into the classroom.

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.  

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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.

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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.  

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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.  

Video

From Citrus to Almonds: video

This is a video [6:25 min] about growing almonds on a property in the Riverland of South Australia and why the owners switched from citrus to almond production. The first part of the video illustrates the characteristics of the property and explains the long-term strategy and business reasons for the switch. The next part ...

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 ...

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.