ECONOMICS AND BUSINESS

WHAT ECONOMICS IS IN IT FOR ME?

ECONOMICS

All 6 aims of the Curriculum have Economics and Business within each aim.

Economics is present in all 4 areas of the curriculum (as is business):

Resource allocation and making choices Business environment Consumer & financial literacy Work and work futures

ECONOMICS AND BUSINESS

It is doubtful that the curriculum aims can be met without a strong consideration of Economics as part of the focus of content and skills.

There will be many ways that schools approach how the Curriculum will be implemented.

We may need to be very actives as teachers of Economics and Business to ensure our curriculum received the treatment it deserves and warrants

ECONOMICS AND BUSINESS

Subject/discipline backgrounds will vary and it may be taught by”

A. Teachers who have tertiary qualifications in both business and economics

B. Teachers who have tertiary qualifications in either business or economics

C. Teachers who have tertiary qualifications in neither economics or business.

ECONOMICS & BUSINESS

What group do you fall in to? * Have taught both economics and

Business? * Have taught Business but not Economics? * Have taught Economics but not Business?

Economics background– tertiary?Year 12?None at all?

ECONOMICS & BUSINESS

A Social Science that studies the decisions made by individuals, households, businesses, governments (and other groups) about how scarce resources are allocated in attempting to satisfy unlimited needs and wants.

Under Aust. Curriculum, E & B is placed within the Humanities Learning Area (includes History, Geography, and Civics & Citizenship)

WHAT IS ECONOMICS?

Content: As the Curriculum is not yet finalised and

accepted by ACARA, there has not yet been a detailed elaborations prepared for E & B.

The suggestions offered here have been developed by a few experienced teachers of Economics, and should not be taken as a definitive or exhaustive listing.

A detailed elaborations will most likely be developed QCAA.

Economics & Business

Year 5 – Consumer choices – needs, wants, resources, limited resources, land, labour, capital and enterprise/entrepreneur, consumer choices, scarcity 

YEAR 5

Opportunity cost – choices about alternative uses of resources and the need to consider trade-offs

Effects of consumer and financial decisions on individuals, broader community and the environment.

Why businesses exist (to make a profit by providing goods and services that consumers/households need and want)

Ways of providing goods and services – scales of production AND forms of ownership (sole trader to Multi-national corporation )

YEAR 6

Central economic focus is THE MARKET, and WORK - supply, demand, price, market, consumers, producers,

shortage, surplus, - types of markets – subsistence, commercial market,

on-line market etc.. - entrepreneur – characteristics and roles -Work – why individuals work (income, personal

satisfaction, etc.); types of work (volunteer to full time work, unskilled to

highly skilled [qualifications], employed to self-employed)

Income – return on labour, rents, dividends, transfer payments (social security).

YEAR 7

Market focus again Markets, government, types of markets, government intervention, rights and responsibilities of consumers and

businesses, types of businesses, Influences on ways of work

Year 8

Global links – economy, economic system, Asia, global

economy, interdependence (economic, political, cultural,)

international trade, financial risks, competitive advantage and offshoring, cost-benefit analysis Roles and responsibilities in the workplace

YEAR 9

GDP, economic performance, criteria – efficiency, equity, externality, living standards, variable living standards

and economic development, economic management,

productivity, economic growth,

YEAR 10

Economics Texts for Yr 11 and 12 e.g. Economics for the Real World, Cave et al, Pearson/Cengage, 2010.

Texts written for E and B – CUP, Jacaranda, Pearson etc.

Texts written for the Victorian VELS 7-10 course (E & B resembles the existing vELS course to some extent

RESOURCES

Economics teacher/s in your school If Economics is offered)

Teachers trained in Economics, but not teaching the subject

QETA – will have some resources available but will be in a password protected environment.

Ed Qld C2C Curriculum (available on Scootle for non-gov’t schools, although copyright materials may be an issue)

Economics Resources

So many available it is difficult to find them at times You Tube – over 5 million Economics videos

Some sites such as Financial Basics and ESSI Money, CBA Financial Literacy materials, ASIC Smart Money site, RBA, Bank sites provide financial references

Web Resources

TES – Australian site, free but you must register to use the site

www.tesaustralia.com EconEdLink – US site – has thousands of

lessons, can be searched via year levels or concepts etc. Must join – it’s free too!

www.econedlink.org BIZ ED – UK site – free, no need to join. Mainly

senior secondary but has some useful videos/simulations etc..

www.bized.co.uk

Resources

Sharing with other teachers and schools BEAQ/QETA role in this? BEA may have some sharing of materials as

well.

Sharing Resources

Questions?

Discussion?

Economics & Business

School approaches will be many and varied Range from subject specific to integration

with other subjects (planned or unplanned) Need to share approaches that schools

adopt to the Curriculum?

School approaches