Mathematics / Year 7 / Number and Algebra / Money and financial mathematics

Curriculum content descriptions

Investigate and calculate 'best buys', with and without digital technologies (ACMNA174)

Elaborations
  • applying the unitary method to identify ‘best buys’ situations, such as comparing the cost per 100g
General capabilities
  • Literacy Literacy
  • Numeracy Numeracy
  • Critical and creative thinking Critical and creative thinking
  • ICT capability Information and Communication Technology (ICT) capability
ScOT terms

Proportions,  Purchasing,  Unit cost

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.  

Video

Comparing fuel consumption

Is it more fuel efficient to drive or fly between two places? Watch this clip and learn how to calculate the answer. What are the various factors that need to be taken into account? This video was made using the American measurement of gallons per hour, American firgures for the average number of passengers in a car and ...

Video

Algebraic equations: video and teaching guide

This video uses an everyday scenario of three people sharing a taxi ride to explore algebraic thinking, and to apply that thinking to a financial context, drawing on reasoning and mathematical modelling. Use the video with the supporting teacher guide as a springboard to explore mathematical concepts. The teacher guide ...

Online

Practical numbers: Part 1

In this lesson, students explore standardised measuring systems. They encounter the challenge of a shopkeeper who must determine how to weigh different quantities of spices most efficiently. Working in a financial context, students model this scenario using fractions, percentages and ratios, and communicate their solution ...

Online

Estimating and rounding decimals

In this lesson, students draw on prior knowledge of rounding whole numbers to develop their understanding and fluency when rounding decimals and are encouraged to reason and problem-solve through a variety of contextual activities. Students will also develop an appreciation of the role of estimation in mathematics and science.

Online

Practical numbers: Part 2

In this lesson we use the context of an ancient bazaar to investigate measurement systems. Students select a name and base number for their system of measurement, using weights made from clay or similar material. They divide their clay into possible unit fractions to generate their set of weights. They assign a fictional ...

Video

Proportional reasoning video

Use this video as a springboard to explore scaling or proportional thinking, and to apply that thinking in a food context, drawing on reasoning and mathematical modelling.

Online

Mathematical modelling (Number): Year 7 – planning tool

This planning resource for Year 7 is for the topic of Mathematical modelling. Students use knowledge of the other topics in the Number strand, so that applying knowledge and skills can be modelled. This can be done in groups or as a whole class, as well as individually. Collaborative learning works well for practical problems.

Online

Graphs: formulas and variables

In this lesson, students use algebra and linear equations to model two real-world scenarios to find information to make the best choice. Students set the aim of saving for a mobile phone (or similar goal) and use linear equations to model the pay rates of two part-time jobs to help make the better decision. This lesson ...

Downloadable

The wide wide world of sports betting

This lesson explores the difference between perfectly predictable events (like the roll of a die) and less certain events (such as sports). Students investigate mathematically how sports bookmakers create odds to guarantee themselves a profit and pay gamblers less for a win than they deserve. The lesson is outlined in ...

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7N05A Percentages - Ochre Education

This unit of work focuses on percentages. Students represent percentages, including percentages greater than 100%; convert between decimals, fractions, and percentages; write one number as a percentage of another (including where the percentage is greater than 100%) and find a percentage of a number (including using percentages ...

Video

Catalyst: Small scale measurements

What units of measurements do we use to describe incredibly small things like blood cells and atoms? Watch as you are taken on a journey to explain the different units of measurement that we use to describe the very small.

Video

MathXplosion, Ep 11: Fun facts about the number seven

Did you know that the digits on opposite faces of dice will always add up to seven? Use dice as fun tools to reinforce fact families of seven, multiples of seven and subtraction skills.

Video

MathXplosion, Ep 17: Develop mathematical mind-reading skills

Amaze your friends with your super mind-reading skills. Here’s a brain game you can play by asking a few questions and substituting letters for numbers! Learn to follow a specific sequence of arithmetical steps to always arrive at the same answer.

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: 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.  

Video

Maths inside bees and beehives

Bees are necessary for assisting many plants to produce the food we eat, including meat and milk. Colony collapse disorder, which describes the disappearance of beehives, could have catastrophic effects on food production. Australian scientists are applying their maths and science knowledge to build up a picture of a healthy ...

Video

Solving percentage problems

This digital resource is a video demonstration of a procedural method to calculate an unknown quantity, given an amount is a known percentage of the unknown. For a single example, students are presented with an algorithmic, step-by-step, pen-and-paper method. The demonstration is complemented by the presenter's commentary ...

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Mixing Lemonade

This resource is a web page containing an interactive task to explore ratios and proportions. Compare different mixtures of lemonade and develop a strategy for deciding which is stronger each time. The task requires students to apply their understanding of ratio and proportions. A 'Getting started' page, 'Solution' and ...

Video

Modelling climate changes

There is a saying: 'climate is what you expect and weather is what you get'. |Understanding climate change is very difficult for most people, especially when the weather we experience is different from the information we are given by scientists about the climate changing. The difference is that weather reflects short-term ...