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Draft Australian Curriculum:
Economics and Business content links
Foundation to Year 6
MoneySmart Teaching
Units of Work
TABLE OF CONTENTS
Foundation to Year 6 MoneySmart Teaching Units of Work ..................................................... 3
Knowledge and Understanding supporting F – 4 ........................................................................ 4
Skills supporting F – 4 ..................................................................................................................... 5
Economics and Business ................................................................................................................ 7
MoneySmart Teaching Units of Work
Year 5 Integrated – Never too young to be MoneySmart with clothes ........................... 9
Year 5 Mathematics – Hey! Let's have a big day out! ................................................. 13
Year 6 Integrated – The fun begins: Budget, plan, profit! ............................................ 16
Year 6 Mathematics – It's raining cats and dogs … and chickens? ............................. 21
Economics and Business Curriculum
Organisation ............................................................................................................... 25
Economics and Business Knowledge and Understanding .......................................... 25
Economics and Business Skills .................................................................................. 26
Relationship between the strands ............................................................................... 26
Year-level descriptions ............................................................................................... 27
Key questions ............................................................................................................. 27
Content descriptions ................................................................................................... 27
The Australian Curriculum: Economics and Business has been written and is awaiting endorsement.
Some states and territories have already begun implementing this curriculum. For those states and
territories this document identifies which ASIC MoneySmart Teaching materials may support the teaching of
the Australian Curriculum: Economics and Business.
3
Overview: Foundation – Year 6 MoneySmart Teaching Units of Work
Economics and Business strands MoneySmart Teaching
Primary Units Economics and Business Knowledge and Understanding
Economics and Business Skills
While no formal Economics and Business Curriculum has been
drafted to incorporate Foundation – Year 4, a number of the existing
MoneySmart Teaching units for these year levels provide an ideal
foundation of knowledge and concepts, supporting the introduction of
the formal curriculum commencing in Year 5.
Years F-2 Integrated – Pancakes can make a difference
Years F-2 Integrated – Ava makes a difference
Year 1 Mathematics – Bertie’s socks
Year 2 Mathematics – Keiren’s coin
Year 3 Integrated – The house of needs and wants
Year 3 Mathematics – Sal’s secret
Year 4 Integrated – Advertising detectives
Year 4 Mathematics – How much love can fit into a shoebox?
ACHEK001 ACHEK002 ACHEK003 ACHES004 ACHES005 ACHES006 ACHES007 ACHES008
Year 5 Integrated – Never too young to be MoneySmart with clothes
ACHEK001 ACHEK003 ACHES004 ACHES005 ACHES006 ACHES007 ACHES008
Year 5 Mathematics – Hey! Let’s have a big day out!
ACHEK009 ACHEK010 ACHEK011 ACHES012 ACHES013 ACHES014 ACHES015 ACHES016
Year 6 Integrated – The Fun begins: Budget, plan, profit!
ACHEK009 ACHEK010 ACHEK011 ACHES012 ACHES013 ACHES014 ACHES015 ACHES016
Year 6 Mathematics – It’s raining cats and dogs… and chickens?
4
Foundation – Year 4 MoneySmart Teaching Units of Work
Foundation – Year 4 MoneySmart Teaching Units of Work provide a strong basis for all aspects of the Australian Curriculum: Economics
and Business, commencing Year 5.
Economics and Business Knowledge and Understanding supporting F – 4
MoneySmart Teaching
Primary Units
The difference between needs and wants and why choices need to be made about how limited resources are used
Types of resources (natural, human, capital) and the ways societies use them in order to satisfy the needs and wants of present and future generations
Influences on consumer choices and methods that can be used to help make informed personal consumer and financial choices
Donating is a way of helping others Discuss paid and unpaid work Discuss price, advertising, taste Years F-2 Integrated – Pancakes can make a difference
Pocket money purchases “wants”
Fundraising can help people in need Years F-2 Integrated – Ava makes a difference
Mother models consumer decision-making in relation to needs and wants
Money is a finite source Comparing shopping items Year 1 Mathematics – Bertie’s socks
Advertisements – needs and wants Discuss paid and unpaid work – volunteer work in the museum
Consumer choices – integrity of advertisements, misleading advertisements
Year 2 Mathematics – Keiren’s coin
Identify needs and wants
Budgeting
Comparing items for affordability and sustainability
How families make decisions when grocery shopping
Year 3 Integrated – The house of needs and wants
Budgeting/savings used to achieve a goal
Explore three meanings of “saving money”
Discuss personal ways to start saving Year 3 Mathematics – Sal’s secret
Advertisements influence children to buy or want a product
Year 4 Integrated – Advertising detectives
Compare needs and wants of others to our own
Money is used to buy goods
Saving money for future needs
Comparative shopping can save money
Factors that influence people when shopping
Year 4 Mathematics – How much love can fit into a shoebox?
5
Foundation – Year 4 MoneySmart Teaching Units of Work
Economics and Business Skills supporting F – 4
MoneySmart Teaching
Primary Units Questioning and research Interpretation and
analysis Economic reasoning, decision-making and application
Communication and reflection
Plan a class fundraising activity, gather data
Categorise resources for fundraising
Deciding on a price Make posters, newsletter item
Years F-2 Integrated – Pancakes can make a difference
Ava decides to set up a lemonade stand
Design promotional material Years F-2 Integrated – Ava makes a difference
Question parent/carers
Use supermarket catalogues
Class table of needs and wants
Students role play being a shopkeeper
Write a shopping list and draw pictures
Year 1 Mathematics – Bertie’s socks
Finding specific advertisements in a variety of media
Helping someone from Taiwan understand and use Australian currency
Determine entry price to recoup all expenses
Make posters
Class discussion
Year 2 Mathematics – Keiren’s coin
Plan a breakfast for other students, research through interview
Sort, classify, categorise Unit pricing – decision making
Report findings
Reflect on being a “Wilbur Want” or “Nellie Need”
Year 3 Integrated – The house of needs and wants
Planning a party
Categorise items needed for a party and research costs
Use of column graph
Determine what can be afforded within a budget
Keeping records
Use of economics and business terms: interest; budget; savings; receipt; EFTPOS
Year 3 Mathematics – Sal’s secret
Gather data, categorise Explore a range of print, online, TV, radio advertisements
Analyse data to identify trends
Write a report
Share/present with other students
Year 4 Integrated – Advertising detectives
Use of supermarket catalogues
Asking parents/carers about shopping
Categorising needs and wants
Students role play being shopkeepers, decisions about what to sell
Draw or paste pictures of items to sell
Year 4 Mathematics – How much love can fit into a shoebox?
6
Years 5 – 6 Economics and Business
Economics and Business Knowledge and Understanding: Scope and Sequence: Years 5 – 6
(Reference pp 46-47 Australian Curriculum: Economics and Business)
Key in
qu
iry
qu
esti
on
s
Year 5 Year 6
Why do I have to make choices as a consumer?
What influences the decisions I make?
What can I do to make informed decisions?
Why are there trade-offs associated with making decisions?
What are the possible effects of my consumer and financial choices?
Why do businesses exist and what are the different ways they provide
goods and services?
Co
nte
nt
Descri
pti
on
s
The difference between needs and wants and why choices need to be made about how limited resources are used.
How the concept of opportunity cost involves choices about the alternative use of resources and the need to consider trade-offs.
Types of resources (natural, human, capital) and the ways societies use them in order to satisfy the needs and wants of present and future generations.
The effect that consumer and financial decisions can have on the individual, the broader community and the environment.
Influences on consumer choices and methods that can be used to help make informed personal consumer and financial choices.
The reasons businesses exist and the different ways they provide goods and services.
Economics and Business Skills: Scope and Sequence: Years 5 – 6
(Reference pp 48-49 Australian Curriculum: Economics and Business)
Years 5 and 6
Questioning and Research
– Develop questions to guide an investigation of an economic or business issue or event, and gather data and information from observation, print and online
sources
Interpretation and analysis
– Sort data and information into categories
Economic reasoning, decision-making and application
– Identify alternative responses to an issue or event, and consider the advantages and disadvantages of preferring one to others
– Apply economics and business knowledge and skills in familiar situations
Communication and reflection
– Present findings in an appropriate format using economics and business terms, and reflect on the possible effects of decisions
7
Years 5 – 6 MoneySmart Teaching Units of Work
Economics and Business MoneySmart Teaching
Years 5 – 6 Units Economics and Business Knowledge and Understanding Economics and Business Skills
List all the clothing items students would like to have
(ACHEK001)
Recycling materials can meet a need (ACHEK002)
Discuss Influences on students’ choice of clothes
(ACHEK003)
Use websites and junk mail to compare clothing prices
(ACHES004)
Categorise influences on clothing choices (ACHES005)
Identify reasons for clothing choices (ACHES006)
Create a recycled fashion item and stage a fashion parade
(ACHES007)
Display data relating to choice of clothes in tables and
graphs and report on success of clothing item/accessory
made (ACHES008)
Year 5 Integrated
Never too young to be MoneySmart with clothes
List essential and optional items (needs and wants) for an
outing (ACHEK001)
A budget influences spending choices (ACHEK003)
Plan a family day out (ACHES004)
List and record cost of items in a table (ACHES005)
Distinguish between essential and optional costs
(ACHES006)
Make financial decisions (ACHES007)
Prepare and modify a budget (ACHES008)
Year 5 Mathematics
Hey! Let’s have a big day out!
Design an environmentally friendly fun park (ACHEK009)
A budget offers choices (ACHEK010)
Tourism is a business (ACHEK011)
Explain design choices for a fun park and their impact on
others and the environment (ACHES012)
Organise types and costs of park facilities in a table
(ACHES013)
Use a budget sheet to track costs (ACHES014)
Adjust park design to meet criteria (ACHES015)
Prepare an oral presentation on the features of the fun
park (ACHES016)
Year 6 Integrated
The fun begins: Budget, plan, profit!
8
Years 5 – 6 MoneySmart Teaching Units of Work
Economics and Business MoneySmart Teaching
Years 5 – 6 Units Economics and Business Knowledge and Understanding Economics and Business Skills
Financial and non-financial costs of owning a pet
(ACHEK009)
Influences on the decision to purchase a pet (ACHEK010)
Reasons why people keep animals other than pets
(ACHEK011)
Explore issues around keeping chickens (ACHES012)
Sort information on pet expenditure into categories
(ACHES013)
Make a recommendation about whether the school should
keep chickens (ACHES014)
Work with others to decide what criteria should be used to
judge the best chicken coop design (ACHES015)
Present data on amount of money spent on cats and dogs
in a table and graph (ACHES016)
Year 6 Mathematics
It’s raining cats and dogs... and chickens?
9
Years 5 – 6 MoneySmart Teaching Units of Work
Links to the Australian Curriculum and National Consumer and Financial Literacy Framework
Year 5 Integrated – Never too young to be MoneySmart with clothes
Australian Curriculum – Integrated:
Mathematics, English, Science, Economics and Business
National Consumer and Financial Literacy Framework
Mathematics
► Strand Statistics and probability
Sub-strand Data representation and interpretation
Content Descriptions
– Pose questions and collect categorical or numerical data by observation or
survey (ACMSP118)
– Construct displays, including column graphs, dot plots and tables,
appropriate for data type, with and without the use of digital technologies
(ACMSP119)
– Describe and interpret different data sets in context (ACMSP120)
English
► Strand Literacy
Sub-strand Interpreting, analysing, evaluating
Content Description
– Use comprehension strategies to analyse information, integrating and linking
ideas from a variety of print and digital sources (ACELY1703)
Science
► Strand Science as a Human Endeavour
Sub-strand Use and influence of science
Content Description
– Scientific understandings, discoveries and inventions are used to solve
problems that directly affect peoples’ lives (ACSHE083)
(Note: the student learnings in the National Consumer and Financial
Literacy Framework are divided into, and are applicable over, bands
covering two chronological years.)
Year 6
► Dimension Knowledge and understanding
Student Learnings
– Analyse the value of a range of goods and services in relation to an
identified need
► Dimension Competence
Student Learnings
– Evaluate the value of a range of goods and services in a variety of ‘real-
life’ situations
– Order and justify reasons for spending preferences.
► Dimension Responsibility and Enterprise
Student Learnings
– Identify and describe the impact that the consumer and financial
decisions of individuals may have on themselves, their families, the
broader community and/or the environment
– Examine and discuss the external factors that influence consumer
choice
10
Years 5 – 6 MoneySmart Teaching Units of Work
Economics and Business
► Strand Knowledge and Understanding
Content Descriptions
– The difference between needs and wants and why choices need to be made
about how limited resources are used (ACHEK001)
– Types of resources (natural, human, capital) and the ways societies use
them in order to satisfy the needs and wants of present and future
generations (ACHEK002)
– Influences on consumer choices and methods that can be used to help
make informed personal consumer and financial choices (ACHEK003)
► Strand Economics and Business Skills
Sub-strand Questioning and research
Content Description
– Develop questions to guide an investigation of an economic or business
issue or event, and gather data and information from observation, print and
online sources (ACHES004)
Sub-strand Interpretation and analysis
Content Description
– Sort data and information into categories (ACHES005)
Sub-strand Economic reasoning, decision-making and application
Content Descriptions
– Identify alternative responses to an issue or event, and consider the
advantages and disadvantages of preferring one to others (ACHES006)
– Apply economics and business knowledge and skills in familiar situations
(ACHES007)
Content Description
Sub-strand Communication and reflection
– Present findings in an appropriate format using economics and business
terms, and reflect on the possible effects of decisions (ACHES008)
11
Years 5 – 6 Achievement Standards
Connection to year level Achievement Standards
This unit of work contributes to the bolded sections of the Achievement Standards in Mathematics, English, Science, Economics and Business for Year 5.
Mathematics
By the end of Year 5, students solve simple problems involving the four operations using a range of strategies. They check the reasonableness of answers
using estimation and rounding. Students identify and describe factors and multiples. They explain plans for simple budgets. Students connect three-
dimensional objects with their two-dimensional representations. They describe transformations of two-dimensional shapes and identify line and rotational
symmetry. Students compare and interpret different data sets.
Students order decimals and unit fractions and locate them on number lines. They add and subtract fractions with the same denominator. Students continue
patterns by adding and subtracting fractions and decimals. They find unknown quantities in number sentences. They use appropriate units of measurement for
length, area, volume, capacity and mass, and calculate perimeter and area of rectangles. They convert between 12 and 24 hour time. Students use a grid
reference system to locate landmarks. They measure and construct different angles. Students list outcomes of chance experiments with equally likely
outcomes and assign probabilities between 0 and 1. Students pose questions to gather data, and construct data displays appropriate for the data.
English
Receptive modes (listening, reading and viewing)
By the end of Year 5, students explain how text structures assist in understanding the text. They understand how language features, images and vocabulary
influence interpretations of characters, settings and events.
They analyse and explain literal and implied information from a variety of texts. They describe how events, characters and settings in texts are depicted and
explain their own responses to them. They listen and ask questions to clarify content.
Productive modes (speaking, writing and creating)
Students use language features to show how ideas can be extended. They develop and explain a point of view about a text, selecting information, ideas and
images from a range of resources.
Students create a variety of sequenced texts for different purposes and audiences. They make presentations and contribute actively to class and group
discussions, taking into account other perspectives. When writing, they demonstrate understanding of grammar, select specific vocabulary and use accurate
spelling and punctuation, editing their work to provide structure and meaning.
12
Years 5 – 6 Achievement Standards
Science
By the end of Year 5, students classify substances according to their observable properties and behaviours. They explain everyday phenomena associated
with the transfer of light. They describe the key features of our solar system. They analyse how the form of living things enables them to function in their
environments. Students discuss how scientific developments have affected people’s lives and how science knowledge develops from many people’s
contributions.
Students follow instructions to pose questions for investigation, predict what might happen when variables are changed, and plan investigation methods.
They use equipment in ways that are safe and improve the accuracy of their observations. Students construct tables and graphs to organise data and
identify patterns. They use patterns in their data to suggest explanations and refer to data when they report findings. They describe ways to improve
the fairness of their methods and communicate their ideas, methods and findings using a range of text types.
Economics and Business
By the end of Year 5, students distinguish between needs and wants and recognise that choices need to be made when allocating resources. They
recognise that consumer choices are influenced by a range of factors. Students identify individual strategies that can be used to make informed consumer
and financial choices.
Students develop questions about an economics or business issue or event, and use data and information from different sources to answer them. They
identify a response to an issue and apply economics and business skills to everyday problems. Students present their findings using economics and
business terms.
13
Years 5 – 6 MoneySmart Teaching Units of Work
Links to the Australian Curriculum and National Consumer and Financial Literacy Framework
Year 5 Mathematics – Hey! Let's have a big day out!
Australian Curriculum – Mathematics, Economics and Business National Consumer and Financial Literacy Framework
Mathematics
► Strand Number and Algebra
Sub-strand Number and place value
Content Descriptions
– Use estimation and rounding to check the reasonableness of answers to
calculations (ACMNA099)
– Solve problems involving multiplication of large numbers by one- or two-
digit numbers using efficient mental, written strategies and appropriate
digital technologies (ACMNA100)
Sub-strand Money and financial mathematics
Content Description
– Create simple financial plans (ACMNA106)
Economics and Business
► Strand Knowledge and Understanding
Content descriptions
– The difference between needs and wants and why choices need to be
made about how limited resources are used (ACHEK001)
– Influences on consumer choices and methods that can be used to help
make informed personal consumer and financial choices (ACHEK003)
(Note: the student learnings in the National Consumer and Financial
Literacy Framework are divided into, and are applicable over, bands
covering two chronological years.)
► Dimension Knowledge and understanding
Student Learnings
– Recognise that families use household income to meet regular financial
commitments and immediate and future expenses (Year 6)
► Dimension Competence
Student Learnings
– Create simple budgets for specific purposes (Year 4)
– Order and justify reasons for spending preferences (Year 6)
► Dimension Responsibility and enterprise
Student Learnings
– Identify and describe the impact that the consumer decisions of
individuals may have on themselves and their families, the broader
community and/or the environment (Year 6)
14
Years 5 – 6 MoneySmart Teaching Units of Work
► Strand Economics and Business Skills
Sub-strand Questioning and research
Content Description
– Develop questions to guide an investigation of an economic or business
issue or event, and gather data and information from observation, print and
online sources (ACHES004)
Sub-strand Interpretation and analysis
Content Description
– Sort data and information into categories (ACHES005)
Sub-strand Economic reasoning, decision-making and application
Content Descriptions
– Identify alternative responses to an issue or event, and consider the
advantages and disadvantages of preferring one to others (ACHES006)
– Apply economics and business knowledge and skills in familiar situations
(ACHES007)
Sub-strand Communication and reflection
Content Description
– Present findings in an appropriate format using economics and business
terms, and reflect on the possible effects of decisions (ACHES008)
15
Years 5 – 6 Achievement Standards
Connection to year level Achievement Standards
This unit of work contributes to the bolded sections in the Achievement Standards in Mathematics, Economics and Business for Year 5.
Mathematics
By the end of Year 5, students solve simple problems involving the four operations using a range of strategies. They check the reasonableness of
answers using estimation and rounding. Students identify and describe factors and multiples. They explain plans for simple budgets. Students connect
three-dimensional objects with their two-dimensional representations. They describe transformations of two-dimensional shapes and identify line and
rotational symmetry. Students compare and interpret different data sets.
Students order decimals and unit fractions and locate them on number lines. They add and subtract fractions with the same denominator. Students continue
patterns by adding and subtracting fractions and decimals. They find unknown quantities in number sentences. They use appropriate units of measurement
for length, area, volume, capacity and mass, and calculate perimeter and area of rectangles. They convert between 12 and 24 hour time. Students use a grid
reference system to locate landmarks. They measure and construct different angles. Students list outcomes of chance experiments with equally likely
outcomes and assign probabilities between 0 and 1. Students pose questions to gather data, and construct data displays appropriate for the data
Economics and Business
By the end of Year 5, students distinguish between needs and wants and recognise that choices need to be made when allocating resources. They
recognise that consumer choices are influenced by a range of factors. Students identify individual strategies that can be used to make informed
consumer and financial choices.
Students develop questions about an economics or business issue or event, and use data and information from different sources to answer them. They
identify a response to an issue and apply economics and business skills to everyday problems. Students present their findings using economics and
business terms.
16
Years 5 – 6 MoneySmart Teaching Units of Work
Links to the Australian Curriculum and National Consumer and Financial Literacy Framework
Year 6 Integrated – The fun begins: Budget, plan, profit!
Australian Curriculum
Mathematics, English, Science, Economics and Business
National Consumer and Financial Literacy Framework
Mathematics
Strand Number and algebra
Sub-strand Number and place value
Content Description
– Select and apply efficient mental and written strategies and appropriate
digital technologies to solve problems involving all four operations with
whole numbers. (ACMNA123)
Strand Measurement and geometry
Sub-strand Using units of measurement
Content Description
– Use common metric units of length, mass and capacity. (ACMMG136)
English
Strand Literacy
Sub-strand Interacting with others
Content Descriptions
– Participate in and contribute to discussions, clarifying and interrogating
ideas, developing and supporting arguments, sharing and evaluating
information, experiences and opinions (ACELY1709)
– Plan, rehearse and deliver presentations, selecting and sequencing
appropriate content and multimodal elements for defined audiences and
purposes, making appropriate choices for modality and emphasis
(ACELY1710)
(Note: the student learnings in the National Consumer and Financial Literacy
Framework are divided into, and are applicable over, bands covering two
chronological years.)
Year 6
► Dimension Knowledge and understanding
Student Learnings
– Describe how an individual can influence their income
► Dimension Competence
Student Learnings
– Use a range of methods and tools to keep financial records in ‘real-life’
contexts
► Dimension Responsibility and Enterprise
Student Learnings
– Apply consumer and financial knowledge and skills in relevant class
and/or school activities such as student investigations, charity fundraising,
product design and development, business ventures and special events
17
Years 5 – 6 MoneySmart Teaching Units of Work
Science
Strand Science inquiry skills
Sub-strand Planning and conducting
Content Description
– With guidance, plan appropriate investigation methods to answer
questions or solve problems (ACSIS103)
Sub-strand Processing and analysing data and information
Content Description
– Construct and use a range of representations including tables and
graphs, to represent and describe observations, patterns or relationships
in data using digital technologies as appropriate (ACSIS107)
Economics and Business
Strand Knowledge and Understanding
Content Descriptions
– How the concept of opportunity cost involves choices about the
alternative use of resources and the need to consider trade-offs
(ACHEK009)
– The effect that consumer and financial decisions can have on the
individual, the broader community and the environment (ACHEK010)
– The reasons businesses exist and the different ways they provide goods
and services (ACHEK011)
Strand Economics and Business Skills
Sub-strand Questioning and research
Content Description
– Develop questions to guide an investigation of an economic or business
issue or event, and gather data and information from observation, print
and online sources (ACHES012)
18
Years 5 – 6 MoneySmart Teaching Units of Work
Sub-strand Interpretation and analysis
Content Description
– Sort data and information into categories (ACHES013)
Sub-strand Economic Reasoning, decision making and application
Content Descriptions
– Identify alternative responses to an issue or event, and consider the
advantages and disadvantages of preferring one to others (ACHES014)
– Apply economics and business knowledge and skills in familiar situations
(ACHES015)
Sub-strand Communication and reflection
Content Description
– Present findings in an appropriate format using economics and business
terms, and reflect on the possible effects of decisions (ACHES016)
19
Years 5 – 6 Achievement Standards
Connection to year level Achievement Standards
This unit of work contributes to the bolded sections of the Achievement Standards in Mathematics, English, Science, Economics and Business for Year 6.
Mathematics
By the end of Year 6, students recognise the properties of prime, composite, square and triangular numbers. They describe the use of integers in everyday
contexts. They solve problems involving all four operations with whole numbers. Students connect fractions, decimals and percentages as different
representations of the same number. They solve problems involving the addition and subtraction of related fractions. Students make connections between the
powers of 10 and the multiplication and division of decimals. They describe rules used in sequences involving whole numbers, fractions and decimals.
Students connect decimal representations to the metric system and choose appropriate units of measurement to perform a calculation. They make
connections between capacity and volume. They solve problems involving length and area. They interpret timetables. Students describe combinations of
transformations. They solve problems using the properties of angles. Students compare observed and expected frequencies. They interpret and compare a
variety of data displays including those displays for two categorical variables. They evaluate secondary data displayed in the media.
Students locate fractions and integers on a number line. They calculate a simple fraction of a quantity. They add, subtract and multiply decimals and divide
decimals where the result is rational. Students calculate common percentage discounts on sale items. They write correct number sentences using brackets
and order of operations. Students locate an ordered pair in any one of the four quadrants on the Cartesian plane. They construct simple prisms and pyramids.
Students list and communicate probabilities using simple fractions, decimals and percentages.
English
Receptive modes (listening, reading and viewing)
By the end of Year 6, students understand how the use of text structures can achieve particular effects. They analyse and explain how language
features, images and vocabulary are used by different authors to represent ideas, characters and events.
Students compare and analyse information in different texts, explaining literal and implied meaning. They select and use evidence from a text to explain their
response to it. They listen to discussions, clarifying content and challenging others’ ideas.
Productive modes (speaking, writing and creating)
Students understand how language features and language patterns can be used for emphasis. They show how specific details can be used to support a
point of view. They explain how their choices of language features and images are used.
Students create detailed texts elaborating on key ideas for a range of purposes and audiences. They make presentations and contribute actively to
class and group discussions, using a variety of strategies for effect. They demonstrate understanding of grammar, make considered choices from an
expanding vocabulary, use accurate spelling and punctuation for clarity and make and explain editorial choices.
20
Years 5 – 6 Achievement Standards
Science
By the end of Year 6, students compare and classify different types of observable changes to materials. They analyse requirements for the transfer of
electricity and describe how energy can be transformed from one form to another to generate electricity. They explain how natural events cause rapid change
to the Earth’s surface. They describe and predict the effect of environmental changes on individual living things. Students explain how scientific knowledge
is used in decision making and identify contributions to the development of science by people from a range of cultures.
Students follow procedures to develop investigable questions and design investigations into simple cause-and-effect relationships. They identify
variables to be changed and measured and describe potential safety risks when planning methods. They collect, organise and interpret their data,
identifying where improvements to their methods or research could improve the data. They describe and analyse relationships in data using
graphic representations and construct multi-modal texts to communicate ideas, methods and findings.
Economics and Business
By the end of Year 6, students recognise why choices about the allocation of resources involve trade-offs. They describe the effects of consumer and
financial decisions on themselves, others and the environment. Students identify the purpose of business and recognise the different ways that
businesses choose to provide goods and services.
When researching, students develop questions and gather and sort data and information from different sources to investigate an economic or
business issue. They identify the advantages and disadvantages of a proposed response to an issue and apply economics and business knowledge and
skills to everyday problems. Students present their findings using appropriate texts and economics and business terms and identify the possible
effects of their decisions.
21
Years 5 – 6 MoneySmart Teaching Units of Work
Links to the Australian Curriculum and National Consumer and Financial Literacy Framework
Year 6 Mathematics – It's raining cats and dogs … and chickens?
Australian Curriculum – Mathematics, Economics and Business National Consumer and Financial Literacy Framework
Mathematics
Strand Number and Algebra
Sub-strand Fractions and decimals
Content Description
– Make connections between equivalent fractions, decimals and percentages
(ACMNA131)
Sub-strand Money and financial mathematics
Content Description
– Investigate and calculate percentage discounts of 10%, 25% and 50% on
sale items, with and without digital technologies (ACMNA132)
Strand Measurement and geometry
Sub-strand Using units of measurement
Content Descriptions
– Solve problems involving the comparison of lengths and areas using
appropriate units (ACMMG137)
– Convert between common metric units of length, mass and capacity
(ACMMG136)
Sub-strand Shape
Content Description
– Construct simple prisms and pyramids (ACMMG140)
(Note: the student learnings in the National Consumer and Financial
Literacy Framework are divided into, and are applicable over, bands
covering two chronological years.)
Year 6
► Dimension Knowledge and understanding
Student Learnings
– Analyse the value of a range of goods and services in relation to an
identified need
► Dimension Competence
Student Learnings
– Evaluate the value of a range of goods and services in a variety of ‘real-
life’ situations
► Dimension Responsibility and enterprise
Student Learnings
– Explain there are ethical considerations to some consumer and financial
decisions
– Examine and discuss the external factors that influence consumer
choices
22
Years 5 – 6 MoneySmart Teaching Units of Work
Strand Statistics and Probability
Sub-strand Data representation and interpretation
Content Descriptions
– Interpret and compare a range of data displays, including side-by-side
column graphs for two categorical variables (ACMSP147)
– Interpret secondary data presented in digital media and elsewhere
(ACMSP148)
Economics and Business
Strand Knowledge and Understanding
Content Descriptions
– How the concept of opportunity cost involves choices about the alternative
use of resources and the need to consider trade-offs (ACHEK009)
– The effect that consumer and financial decisions can have on the
individual, the broader community and the environment (ACHEK010)
– The reasons businesses exist and the different ways they provide goods
and services (ACHEK011)
Sub-strand Questioning and research
Content Description
– Develop questions to guide an investigation of an economic or business
issue or event, and gather data and information from observation, print and
online sources (ACHES012)
Sub-strand Interpretation and analysis
23
Years 5 – 6 MoneySmart Teaching Units of Work
Content Description
– Sort data and information into categories (ACHES013)
Sub-strand Economic reasoning, decision-making and application
Content Descriptions
– Identify alternative responses to an issue or event, and consider the
advantages and disadvantages of preferring one to others (ACHES014)
– Apply economics and business knowledge and skills in familiar situations
(ACHES015)
Sub-strand Communication and reflection
Content Description
– Present findings in an appropriate format using economics and business
terms, and reflect on the possible effects of decisions (ACHES016)
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Years 5 – 6 Achievement Standards
Connection to year level Achievement Standards
This unit of work contributes to the bolded sections of the Achievement Standards in Mathematics, Economics and Business for Year 6.
Mathematics
By the end of Year 6, students recognise the properties of prime, composite, square and triangular numbers. They describe the use of integers in everyday
contexts. They solve problems involving all four operations with whole numbers. Students connect fractions, decimals and percentages as different
representations of the same number. They solve problems involving the addition and subtraction of related fractions. Students make connections between
the powers of 10 and the multiplication and division of decimals. They describe rules used in sequences involving whole numbers, fractions and decimals.
Students connect decimal representations to the metric system and choose appropriate units of measurement to perform a calculation. They make
connections between capacity and volume. They solve problems involving length and area. They interpret timetables. Students describe combinations of
transformations. They solve problems using the properties of angles. Students compare observed and expected frequencies. They interpret and compare
a variety of data displays including those displays for two categorical variables. They evaluate secondary data displayed in the media.
Students locate fractions and integers on a number line. They calculate a simple fraction of a quantity. They add, subtract and multiply decimals and divide
decimals where the result is rational. Students calculate common percentage discounts on sale items. They write correct number sentences using brackets
and order of operations. Students locate an ordered pair in any one of the four quadrants on the Cartesian plane. They construct simple prisms and
pyramids. Students list and communicate probabilities using simple fractions, decimals and percentages.
Economics and Business
By the end of Year 6, students recognise why choices about the allocation of resources involve trade-offs. They describe the effects of consumer and
financial decisions on themselves, others and the environment. Students identify the purpose of business and recognise the different ways that
businesses choose to provide goods and services.
When researching, students develop questions and gather and sort data and information from different sources to investigate an economic or
business issue. They identify the advantages and disadvantages of a proposed response to an issue and apply economics and business knowledge
and skills to everyday problems. Students present their findings using appropriate texts and economics and business terms and identify the
possible effects of their decisions.
25
Australian Curriculum: Economics and Business
Economics and Business (Reference ACARA | The Australian Curriculum | Version 6.0 dated Tuesday, 18 February 2014)
Organisation
The Australian Curriculum: Economics and Business is organised in two related strands: Economics and Business Knowledge and Understanding,
and Economics and Business Skills.
In both these strands, the study of economics and business issues, events and business case studies form an integral component of the curriculum. A focus on
contemporary issues, events and business case studies stimulates student interest and curiosity. The content is intended to be taught through a relevant
context, which will help students make the connections between what they are learning in class and events or issues that are happening in their local area,
Australia and the world.
Both strands also focus on developing enterprising behaviours and capabilities. Through the study of economics and business, students will develop their
understanding of the importance and role of enterprising behaviours and capabilities at an individual and business level. They will also be encouraged to
develop the capabilities that will enable them to actively participate in the economy, now and in the future.
Enterprising behaviours and capabilities refer to the suite of skills, attributes and behaviours that allow individuals to engage in and contribute to the economic
wellbeing of society. Broadly, they encourage students to be adaptable, demonstrate initiative, solve problems and take on leadership roles in all aspects of life.
In a constantly changing world, enterprising behaviours and capabilities provide individuals with the necessary skills to manage change. Students develop and
practise skills and attributes in the context of economics and business including accepting challenges, showing initiative, accepting responsibility, developing
economic and business vocabulary, working sustainably, being socially responsible, setting goals, and negotiating solutions; and using associated behaviours
such as working with others, planning and organising, reflecting and reviewing performance, analysing economic and business issues, taking opportunities and
making decisions.
Economics and Business Knowledge and Understanding
Economics and business knowledge refers to the facts, principles, theories and models developed in Economics and Business. Economics and business
understanding is the ability to see the relationships between concepts and the interdependence of sectors of the economy.
The Economics and Business Knowledge and Understanding strand comprises four key organising ideas: resource allocation and making choices; the business
environment; consumer and financial literacy; and work and work futures.
Resource allocation and making choices focuses on the process of using available, limited resources for competing alternative uses that satisfy society’s
unlimited needs. As every need and want cannot be satisfied with available resources, choices must be made about how resources are allocated most
effectively, based on the actions of consumers, producers and governments.
The business environment examines the ways businesses operate at many levels, and the ways they respond to opportunities and changing circumstances
and conditions. As businesses operate in markets, the decisions they make have social, economic and environmental consequences.
26
Australian Curriculum: Economics and Business
Consumer and financial literacy explores the role of making responsible and informed decisions about consumer issues and managing money and assets,
and how these decisions affect the individual’s and the community’s quality of life, sense of security and awareness of future options.
Work and work futures focuses on work and the work environment and the contribution of work to individual and collective wellbeing. It explores the factors
that influence the work environment now and into the future and the rights and responsibilities of participants in the work environment.
Economics and Business Skills
The Economics and Business Skills strand focuses on the skills of questioning and research; interpretation and analysis; economic reasoning, decision-making
and application; and communication and reflection.
Questioning and research involves students asking questions about a contemporary issue or event and planning and conducting investigations. Students
gather information and data from a range of sources to investigate the issue or event.
Interpretation and analysis engages students in transforming and critically examining information and data and accounting for different perspectives.
Economic reasoning, decision-making and application involves students making informed decisions using economic reasoning and applying economics and
business knowledge, skills and concepts to familiar and new situations.
In Communication and reflection students present findings, arguments and evidence-based conclusions using subject-specific language, concepts and
conventions and reflect on the intended and unintended consequences of decisions.
Economics and Business Skills are described in bands of schooling at two-year intervals.
Relationship between the strands
The two strands are integral to the development of a teaching and learning program. The Economics and Business Knowledge and Understanding strand
provides the content focus through which particular skills are to be developed. It is developed year by year. The sequencing and description of the Economics
and Business Skills in two-year bands (5–6, 7–8, 9–10) may help in multi-age programming by providing a common skills focus for the teaching and learning of
the knowledge and understanding content.
Contemporary economic and/or business events, issues and case studies are used to provide the context for learning knowledge and understanding and the
development of skills.
27
Australian Curriculum: Economics and Business
Year-level descriptions
Year-level descriptions provide an overview of the content that is being studied at each year level. The descriptions identify the key economics and business
concepts that are to be the focus for teaching and articulate how students’ economics and business knowledge, understanding and skills will be developed.
They also emphasise the interrelated nature of the two strands and the expectation that planning will involve integration of content from across the strands.
Key questions
Each year level includes key questions which provide a guiding framework for developing students’ economics and business knowledge, understanding and
skills of inquiry.
Content descriptions
The Years 5–10 Australian Curriculum: Economics and Business includes content descriptions at each year level. These set out the knowledge, understanding
and skills that teachers are expected to teach and students are expected to learn. However, they do not prescribe approaches to teaching. The content
descriptions have been written to ensure that learning is appropriately ordered. Economics and business concepts and skills are introduced early in the
curriculum; their complexity increases as students move through the year levels.
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