The document outlines the draft shape of the Australian curriculum for economics and business. It discusses the development phases, consultation process, learning areas, curriculum organization, aims and guiding principles. Key ideas like resource allocation and financial literacy are identified. The curriculum structure has two strands for knowledge and skills. Details are provided on the scope and sequence from early years to senior secondary courses in economics, business and accounting. Feedback is sought through surveys and emails.
Datu lipus makapandong nhs shs advocacy for parentsdorothyjoyjalalon
a cebuano/visayan version of the information/education campaign materials for k to 12 senior high school implementation @ datu lipus makapandong nhs, poblacion, rosario, agusan del sur
This paper investigated by virtue of assessment the very important place of acquiring both academic/formal and practical skilful education by any prospective or existing entrepreneur to be able to develop and sustain their operational activities at a geometric speed. Most prospective and existing entrepreneurs in a developing country like Nigeria, lack this understanding that acquiring both can develop and sustain their businesses as a going concern. Each education has its own unique transaction and training dynamics and when combined, gives better management results. Being a road side mechanic without academic/formal education or vis versa has no positive correlation effects with one with both education because the approaches to either businesses differs. Acquiring only one of these educational backgrounds has lesser advantage unlike acquiring both educational backgrounds from experienced people. Growing as an apprentice under tutelage with formal educational background is rewarding. Various reviews were made. The methodology adopted was secondary by ways of journals, publications, internet reviews, and personal indebt studies. Findings showed that acquiring both makes an entrepreneur sound, good judgmental, discipline, creative and efficient in resource management of the business. In conclusion, the training and transaction dynamics of both education in consideration of the training times, environment of studies, terminologies used and the structures put in place varies. Recommended among others is: whether after graduating from the four walls of a tertiary institution, becoming an apprentice under tutelage to acquire practical experience develops and sustains an entrepreneur.
Datu lipus makapandong nhs shs advocacy for parentsdorothyjoyjalalon
a cebuano/visayan version of the information/education campaign materials for k to 12 senior high school implementation @ datu lipus makapandong nhs, poblacion, rosario, agusan del sur
This paper investigated by virtue of assessment the very important place of acquiring both academic/formal and practical skilful education by any prospective or existing entrepreneur to be able to develop and sustain their operational activities at a geometric speed. Most prospective and existing entrepreneurs in a developing country like Nigeria, lack this understanding that acquiring both can develop and sustain their businesses as a going concern. Each education has its own unique transaction and training dynamics and when combined, gives better management results. Being a road side mechanic without academic/formal education or vis versa has no positive correlation effects with one with both education because the approaches to either businesses differs. Acquiring only one of these educational backgrounds has lesser advantage unlike acquiring both educational backgrounds from experienced people. Growing as an apprentice under tutelage with formal educational background is rewarding. Various reviews were made. The methodology adopted was secondary by ways of journals, publications, internet reviews, and personal indebt studies. Findings showed that acquiring both makes an entrepreneur sound, good judgmental, discipline, creative and efficient in resource management of the business. In conclusion, the training and transaction dynamics of both education in consideration of the training times, environment of studies, terminologies used and the structures put in place varies. Recommended among others is: whether after graduating from the four walls of a tertiary institution, becoming an apprentice under tutelage to acquire practical experience develops and sustains an entrepreneur.
This presentation is linked to a workshop presented at the HEA Enhancement event ‘Successful students: enhancing employability through enterprise education’. The blog post that accompanies this presentation can be accessed via http://bit.ly/1E2ED7E
This presentation is linked to a workshop presented at the HEA Enhancement event ‘Successful students: enhancing employability through enterprise education’. The blog post that accompanies this presentation can be accessed via http://bit.ly/1wVOUxf
This presentation is linked to a workshop presented at the HEA Enhancement event ‘Successful students: enhancing employability through enterprise education’. The blog post that accompanies this presentation can be accessed via http://bit.ly/1xb3ins
This presentation is linked to a workshop presented at the HEA Enhancement event ‘Successful students: enhancing employability through enterprise education’. The blog post that accompanies this presentation can be accessed via http://bit.ly/1JIE3wh
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This presentation is linked to a workshop presented at the HEA Enhancement event ‘Successful students: enhancing employability through enterprise education’. The blog post that accompanies this presentation can be accessed via http://bit.ly/1E2ED7E
This presentation is linked to a workshop presented at the HEA Enhancement event ‘Successful students: enhancing employability through enterprise education’. The blog post that accompanies this presentation can be accessed via http://bit.ly/1wVOUxf
This presentation is linked to a workshop presented at the HEA Enhancement event ‘Successful students: enhancing employability through enterprise education’. The blog post that accompanies this presentation can be accessed via http://bit.ly/1xb3ins
This presentation is linked to a workshop presented at the HEA Enhancement event ‘Successful students: enhancing employability through enterprise education’. The blog post that accompanies this presentation can be accessed via http://bit.ly/1JIE3wh
Professor Barry McGaw, keynote at ASLA XXIII Biennial Conference 2013 - The Australian Curriculum is organised under learning areas, which reflect traditional disciplines of knowledge, and general capabilities, which some call 21st century skills. A third dimension provides for three current cross-curriculum priorities that are given special attention in the expectation that, in due course, they will become securely established in curriculum. The curriculum is constructed with content (knowledge, understanding and skills) at its centre. All three dimensions (learning areas, general capabilities and current cross-curriculum priorities) are provided for through the one set of content descriptions, with the online curriculum making clear which elements of each dimension are served by each content description. With respect to all three dimensions, the content is sequenced developmentally through the years of schooling. The content descriptions present students' learning entitlements. Except for a few cases where the content descriptions imply pedagogy (such as in the teaching of initial reading skills which attention to phonics), questions of pedagogy are seen as matters for teachers and schools and, in some cases, school systems.
An over view give to members of UNESCO of the Scottish education curriculum and how enterprise makes a significant contribution to underpinning the new Curriculum for Excellence
Green Skills as an Added-Value Element in Producing Competent StudentsIJERA Editor
Green skills model is developed as a reference for implementing green skills in the learning process for primary school students. Elements of green skills need to be applied as early as possible in students to produce citizens who are competent in all aspects and foremost to maintain the environmental balance. Elements of green skills can be used as a value-added in any subject and as a cross-curricular element such as Design and Technology (D&T). Research shows that the country is now passing through a phase of global warming and climate change caused by greenhouse gases. There are quite a number of people who are not aware of environmental problems and take it easy in helping reduce greenhouse gas emissions resulting from the use of fossil fuels. The concept paper reviewed the policy and the role of government in development and implementation of green technology and community practices to ensure that goal is achieved. A lot of research needs to be done in promoting and improving the existing new energy sources as an alternative renewable technologies to meet the goals of the National Green Technology Policy.
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2. LEARNING AREAS
The Melbourne Declaration identifies
eight learning areas including:
Humanities and social sciences:
which includes history, geography
economics, business and civics and
citizenship
3. CURRICULUM DEVELOPMENT PHASES
Phase 1 Phase 2 Phase 3
2012 - 2015 2013 - 2016 2014 - ?
English Health and
Geography
Physical
Education
Mathematics Languages
Technologies
Science The Arts
Economics,
Business, Civics
History and Citizenship
4. CONSULTATION PROCESS
ION TIMELINE
March 2013 –
10 September June 2013
2012 Curriculum
6 August – 12 CEOWA development
Consultation process followed
October 2012
Process by consultation
ACARA National on the curriculum
consultation period and final
6 August 2012 12 September publication.
Draft Shape of 2012
Australian Curriculum: CSA Consultation
Economics and Business Session for ACARA
available
14 September
SCSA Consultation
Process
6. DEVELOPMENT OF THE AUSTRALIAN
CURRICULUM
The Australian Curriculum developed by ACARA:
is being written for F-10 and Years 11-12
is described in Years not Stages
has content descriptions not outcomes
7. GENERAL CAPABILITIES
Critical and creative Information and
thinking Ethical behaviour communication
technology (ICT)
capability
Literacy
Intercultural Personal and social
understanding capability Numeracy
8. CROSS-CURRICULUM PRIORITIES
Aboriginal and Torres Strait Islander histories
and cultures
Asia and Australia’s engagement with Asia
Sustainability
9. PURPOSE OF THE DRAFT SHAPE PAPER
The draft Shape of the Australian Curriculum, Economics
and Business:
provides broad direction on the purpose, structure and
organisation of the Economics and Business curriculum
will guide the writing of the Australian Curriculum:
Economics and Business from Years 5 to 12
10. GUIDING PRINCIPLES UNDERPINNING THE
ECONOMICS AND BUSINESS CURRICULUM
Economics is the underpinning discipline and in
Business, the economic concepts range across a range
of concepts
Distinctions can be made between Economics and
Business
Economics and Business are interrelated and an
integrated approach should be adopted
11. AIMS … ECONOMICS & BUSINESS CURRICULUM
Economics and Business aims address:
I. Resource allocation and distribution
II. Roles, rights and responsibilities of ethically
participating in the economy
III. Developing and applying consumer and financial
knowledge understanding, skills and values
IV. Enterprising behaviours and capabilities
V. The contemporary and future nature of work and
business
VI. The nature of economics and business decision-
making in creating a prosperous, sustainable and
equitable economy
VII. The interactions of the Australian economy with the
global economy, particularly Asia.
12. CURRICULUM ORGANISATION
A formal curriculum for Economics and Business
will be written for Years 5 – 8.
The curriculum for Years 9 and 10 will build on
Years 5 – 8 and be available for schools to use
appropriate to their needs.
13. KEY IDEAS
Four overarching and interconnected key ideas are
included based on the economics and business
concepts for:
Resource allocation and making choices
Consumer and financial literacy
Enterprising behaviours and capabilities
Work and business environments
14. THE NATURE OF ECONOMICS & BUSINESS
Provides opportunities to connect with and build
on related content in History, Geography and
Civics and Citizenship.
Links to a range of student experiences outside
the formal curriculum:
SRC initiatives
Service learning
Volunteer work
Enterprise / project based learning programs
Work experience, industry partnerships, vocational
education and training in schools
15. CURRICULUM STRUCTURE
The Economics and Business curriculum is organised
into two interrelated strands for 5-10:
Economics and Business knowledge and
understanding
Economics and Business skills
These 2 strands are consistent with other Humanities and
Social Science curriculum developed by ACARA.
16. ECONOMICS AND BUSINESS KNOWLEDGE
AND UNDERSTANDING
Will be drawn from:
The nature of resource allocation
The role of production, distribution and
exchange
Key elements of how economics and
businesses operate
The effect of key economic and business on
sustainable development, social justice and
equity
17. ECONOMICS AND BUSINESS KNOWLEDGE
AND UNDERSTANDING
Consumer and financial literacy strategies
The importance of the role of enterprising
behaviours
Aspects of business management and decision-
making
How the changing nature of work affects stake
holders
The way in which technology has transformed the
business environment
18. ECONOMICS AND BUSINESS SKILLS
The set of skills required to be active and
informed participants in the economy are
described as:
Application
Inquiry and research
Analysis and synthesis
Collaborative decision making
Communication, reflection and response
19. SCOPE AND SEQUENCE OF CURRICULUM
A description of learning prior to Year 5 is
included.
The 4 underpinning key ideas build in
complexity and with skills development
embedded in the knowledge and understanding
in the two content strands.
The Year 9-10 curriculum will build upon the
formal curriculum developed for Years 5-8.
20. EARLY YEARS TO YEAR 4
The informal learning experiences related to student’s participation in
family life, their community, and from activities within other learning
areas related to the four key ideas e.g.
Resource allocation – goods and services locally, meeting needs and
wants, using resources
Consumer and financial literacy - saving and spending decisions
Enterprising behaviours and capabilities – participating in planning
class or school events
Work and business environments – the nature of paid and unpaid
work, contribution of work to society, working collaboratively with
others.
21. YEARS 5-6 (10-12 YEARS OF AGE)
Students will use the inquiry process to plan investigations about
contemporary economic and business issues of personal or local
interest and form and communicate conclusions based on evidence.
Through knowledge and understanding about:
Resource allocation and making choices - allocation and
use, opportunity cost, needs and wants, role of consumers,
workers and producers in the economy and influence on
wellbeing of self, others and the community
Consumer and financial literacy - making informed decisions
Enterprising behaviours and capabilities - the application of
initiative and problem solving in various settings
Work and business environments - characteristics of work in
a changing business environment.
22. YEARS 7-8 (12-14 YEARS OF AGE)
Students use the inquiry process to plan economic and
business investigations on contemporary issues at local,
national, regional and global level. They analyse and
interpret economic and business data, form and express
opinions, and communicate conclusions based on
evidence. About:
Consumer and Financial literacy
develop personal financial literacy skills and understand
the importance of being an informed consumer
23. YEARS 7-8 (12-14 YEARS OF AGE)
Work and business environments
the nature of business, business
ownership and operation, the legal and regulatory settings,
and the nature of work in these environments
Resource allocation and making choices
markets, how buyers and sellers affect price, competition and
the role of government in influencing economic activity and
wellbeing and living standards
Enterprising behaviours and capabilities
the role and importance that enterprising behaviours and
capabilities play in a market based economy.
24. YEARS 9-10 (14-16 YEARS OF AGE)
The curriculum for Years 9 and 10 will provide students with a
richer and more applied context.
Each year’s course will comprise a number of topics to be
studied across the year.
These topics bring together the four key ideas of the
Economics and Business curriculum in an integrated
manner while studying a contemporary issue or event.
The topics will be developed so that schools have the
flexibility to study them in the sequence that best meets the
learning needs of their students.
25. YEARS 9-10 (14-16 YEARS OF AGE)
The topics will be based on an inquiry approach model.
Students will:
investigate an event or issue of interest related to economics
and business, to develop their knowledge and skills in analysis,
synthesis and evaluation of economic and business information
and data
use relevant economic and business concepts and relationships
develop their skills of economic and business reasoning
the costs and benefits related to the issue or event, including
cost benefit analysis
26. TOPICS FOR YEARS 9-10 (14-16 YEARS OF AGE)
Topics, while taking account of local and national perspectives,
should also have a regional and global relevance e.g.
Topics could focus on events, issues or areas such as the
sports industry; managing mobile phones, apps and games;
moving out of home: understanding budgeting, renting and
buying a house; managing natural resources; or an
enterprise activity.
27. STRUCTURE OF THE SENIOR CURRICULUM
It is proposed the senior secondary Economics and
Business curriculum will include development of
curriculum for three subjects:
Economics
Business
Accounting
Additional elective opportunities that are currently offered by states
and territories in the senior secondary years will continue to be
available within the secondary curriculum.
The focus of the courses proposed for the Economics and Business
senior secondary curriculum will be subject to the development of a
shape paper that will provide the scope and detail for the curriculum
in the senior years.
28. ECONOMICS SENIOR COURSE
The Economics course should provide students with a study
of microeconomics (a focus on the actions of individuals and
industries) and macroeconomics (a focus on a much
broader analysis of the economic activity of a country within
the global economy) using contemporary economic events
and issues, across local, national, regional and global
contexts.
29. BUSINESS SENIOR COURSE
The Business course should provide students with a study
that considers the various dimensions of business that affect
daily life. These areas could include operations systems,
human resources, theories of management, basic financial
operations, business plans and marketing.
30. ACCOUNTING SENIOR COURSE
The Accounting course should enable students to undertake
the recording, reporting and analysing of the financial
transactions of a business; the making of informed
decisions, based on financial data, concerning the future
operations of the business; and the reporting of financial
information to stakeholders.
31. KEY QUESTIONS FOR EVALUATING THE
DRAFT SHAPE OF THE AUSTRALIAN
CURRICULUM: ECONOMICS AND BUSINESS
Is there evidence of Do the 4 key ideas Are the 2 strands
adequate quality and provide the suitable curriculum
rigour in the foundational structure organisers for all
curriculum? and clear direction for a students; economics
21st century curriculum? and business learning?
Does the scope and Can the content be
Does the senior
sequence provide a covered within the curriculum cater for
logical progression structure and the current future options for
from Years 5-8 and time allocated to these students and provide
support learning in subjects in the current specialisation?
Years 9-10 ? WA syllabuses?
33. CONSULTATION ON THE DRAFT
SHAPE OF THE AUSTRALIAN CURRICULUM:
ECONOMICS AND BUSINESS
Provide feedback to Peter Carey (Business) and Keith
Gilbert (Economics) via email to
carey.peter@ceo.wa.edu.au and
gilbert.keith@ceo.wa.edu.au by Friday 10 September
Access a printable version of the draft shape paper
Complete the ACARA online survey
Email feedback to ACARA at:
economicsandbusiness@acara.edu.au
Editor's Notes
Two documents guide the development of the Australian Curriculum - the Melbourne Declaration on Educational Goals for Young Australians and The Shape of the Australian Curriculum.The Melbourne Declaration defined the broad areas on what should be valued and taught in schools across Australia. It has two clear goals:Goal 1: Australian schooling promotes equity and excellenceGoal 2: All young Australians become successful learners, confident and creative individuals and active and informed citizens.Economics and Business are identified in the Melbourne Declaration as two of the subjects in the essential learning area Humanities and Social Sciences in the Australian Curriculum.
The learning areas of the Australian Curriculum will be developed in three phases.Phase 1EnglishMathematicsScience (including physics, chemistry, biology)History The first phase subjects have been published by ACARA.Phase 2GeographyThe ArtsLanguages Phase 3Health and Physical EducationInformation and Communication Technology and Design and TechnologyEconomics, Business, Civics and CitizenshipThe timeline for phase is approx. 18 months behind phase 2, however the phase 3 subjects are at different stages of development. For more details - http://www.acara.edu.au/curriculum/phase_3_-_the_australian_curriculum.html
Participating in consultation processes is an important part of the curriculum development process, both at a national level for ACARA and at a state level. Teachers of Economics and Business in schools are encouraged to engage in a variety of consultation processes to contribute to the CASA WAresponse.
The Australian, Curriculum, Assessment and Reporting Authority (ACARA ) has been given the role of developing the Australian Curriculum. ACARA is responsible for: a national curriculum from Foundation to Year 12 in specified learning areasa national assessment program aligned to the national curriculum that measures students’ progressa national data collection and reporting program that supports analysis, evaluation, research and resource allocation and accountability and reporting on schools and broader national achievement.There has been no decision from the WA Minister in relation to the implementation of Phase 2 and Phase 3 subjects.
For some learning areas, the Australian Curriculum will be written with the expectation that they will be taught in each year of schooling from Foundation to Year 10. However for Economics and Business the curriculum is being developed for Years 5 to 10. For the senior years three subjects are proposed: Economics, Business and Accounting. The shape paper addresses the curriculum for Foundation to Year 12, clearly stating the rationale, aims and propositions which shape the curriculum for Years 5-12.The Australian Curriculum is being developed in years not Stages.Content descriptions specify what teachers are expected to teach. These are accompanied by elaborations that illustrate the content descriptions.
The Australian Curriculum General capabilities define knowledge, skills, behaviours and dispositions that can be developed and applied across the curriculum to help students to become successful learners, confident and creative individuals and active and informed citizens. These are:Literacy – should be developed in all learning areas and involves students in listening to, reading, viewing, speaking, writing and creating oral, print, visual and digital texts, and using and modifying language for different purposes in a range of contexts.Numeracy – should be in all learning areas and involves students in recognising and understanding the role of mathematics in the world and having the dispositions and capacities to use mathematical knowledge and skills purposefully.ICT – required for all learning areas; includes using ICT to access, create and communicate information and ideas, solve problems and work collaboratively in all learning areas at school, and in their lives beyond school.Critical and creative thinking skills – includes problem solving, thinking critically about possibilities and alternatives, developing arguments and using evidence in support of that argument, being innovative and resourceful, generating new ideas and questioning assumptions. Ethical behaviour – involves students in building a strong personal and socially oriented ethical outlook that helps them to manage context, conflict and uncertainty, and to develop an awareness of the influence that their values and behaviour have on others.Personal and social capability – includes understanding themselves and others, managing their relationships, lives and own learning, working effectively in teams and handling challenging situations in constructive ways. Health and Physical Education is a key contributor to this general capability. Intercultural understanding – includes learning about and engaging with diverse cultures to develop an appreciation of difference and diversity, cultivate mutual respect and create connections with others.
There will be three cross-curriculum perspectives addressed in the national curriculum:The Aboriginal and Torres Strait Islander histories and cultures priority will allow all young Australians the opportunity to gain a deeper understanding and appreciation of Aboriginal and Torres Strait Islander histories and cultures, their significance for Australia and the impact these have had, and continue to have, on our world.Developing a better understanding of the countries and cultures of the Asian region will enhance students’ cultural awareness and enable them to be active and informed participants in regional and global communities. Sustainability will allow young Australians to develop an appreciation of the need for more sustainable patterns of living and build a commitment to taking action to create a more sustainable future. Each of these priorities will be represented in every learning area of the Australian curriculum in ways appropriate to that area.The shape paper explicitly identifies how these perspectives link to Economics and Business and describes learning opportunities related to each. Are the cross-curriculum priorities appropriately described?Are the opportunities appropriate?Could additional opportunities have been identified?
The Australian Curriculum: Economics and Business comprises Economics, which is seen as the underpinning discipline, and Business, where the economic concepts apply across a range of business contexts. Where economics is defined as “a study of mankind as they live and move and think in the ordinary business of life‟. Economics explains how people interact within markets, how individuals and groups make decisions with limited resources to meet their unlimited needs and wants, and often reveals why people, businesses and governments behave in certain ways. The study of Business, in tandem, broadly encompasses all activity by the producers and suppliers of goods and services; the enterprising endeavours that our society undertakes to meet our needs and wants. Economics and Business education involves the development of the knowledge, skills, attitudes, beliefs and values that will inform and encourage students to participate in economic and business activities personally, locally, nationally, regionally and globally. The pace of change due to factors such as globalisation, the effects of technology and demographic trends, means that Australia needs a population and labour force with enterprising behaviours (such as showing initiative and being innovative). The knowledge, understandings and skills of Economics and Business education underpins the development of consumer and financial literacy skills in students. The Economics and Business curriculum will incorporate the knowledge, understandings, competencies, responsibilities and enterprise skills that are set out in the National Consumer and Financial Literacy Framework. The Economics and Business curriculum considers the relationships between Australia and the Asia region, both economic and business, and the importance of developing closer regional integration through the development of strong trade and investment relationships, and cross cultural understandings. The Economics and Business curriculum explores the paradigm of economic prosperity and equitable and sustainable futures by evaluating the interrelated nature of economic and ecological sustainability. The Economics and Business curriculum develops students knowledge and understanding about key economic and business concepts such as markets and trade relationships, production and consumption from the perspective of Aboriginal and Torres Strait Islander communities, both through acknowledgement of longstanding traditions of trade and exchange and consideration of the changes that have led to contemporary economic and business practices.
Aims Specifically, the Australian Curriculum: Economics and Business will aim to develop the knowledge, understandings and skills to ensure that students: I. develop an understanding of the allocation of resources in determining the creation and distribution of wealth and how this is related to the wellbeing of individuals and the economy II. actively and ethically participate in the economy and understand their roles, rights and responsibilities as consumers, producers, savers, investors, workers and citizens III. develop and apply consumer and financial knowledge, understandings, skills and values to make informed and effective decisions that enable them to make the most of opportunities, meet their goals and secure their financial wellbeing, while also contributing to the prosperity of the Australian economy IV. develop enterprising behaviours and capabilities that can be transferable into life and career opportunities V. develop an understanding of the contemporary and likely future nature of work and business environments, appreciating the role of research and innovation in creating prosperous futures VI. develop a critical perspective of the nature of economics and business decision-making in creating a prosperous, sustainable and equitable Australian economy VII. make sense of the world through investigating and developing an understanding of the Australian economy and its interactions and relationships with the global economy, in particular, the Asia region. Do the aims make clear the intended learning for students in the Australian Curriculum: Economics and Business?
For any year, the Australian Curriculum is written so that it should not take up more than 80% of the total teaching time available. The time allocated for teaching the Australian Curriculum: Economics and Business is a decision to be made by state and territory jurisdictions. The remaining 20% of the total teaching time would be dedicated to extracurricular programs such as school sport and elective subjects.
The key ideas are underpinned by active, informed and ethical decision-making approaches, developing a world view and consideration of a futures focus. Resource allocation and making choices: The process of using available, limited resources for competing alternative uses that satisfy our society's unlimited needs and wants is the focus of economic and business decision-making. As every need and want cannot be satisfied with available resources, choices must be made as to how the resources are allocated most effectively. The market system, through the forces of demand and supply, allocates resources based on the actions of consumers, producers and government. Consumer and financial literacy:Consumer and financial literacy education develops students‟ knowledge, skills, values and behaviours in making responsible and informed decisions about consumer issues and managing money and assets to improve individual and community financial wellbeing. The making of these decisions is a core skill that affects the individual's and the community's quality of life, sense of security, awareness of future options and the overall economic wellbeing of society. Enterprising behaviours and capabilities: Effective enterprising behaviour relies on the demonstration of a suite of skills and capabilities. Enterprising behaviours, within the context of business, cover a range of skills including adaptability, initiative, creativity, curiosity, communicating, managing, leading and problem-solving and associated behaviours; such as teamwork, planning and organising, using resources effectively, analysing issues and managing identified risks. Work and business environments:The nature of work has changed significantly in the last generation and the nature and type of jobs available to young people is changing faster than ever. To maximise opportunities for healthy, productive and rewarding futures, an understanding of the contemporary and likely future nature of work is needed. Equally, the business environment is rapidly transforming due to internal and external factors. An understanding of the way businesses are structured and operate, how they respond to challenges, and the role of interest groups in this sphere, including the role of governments, along with the effect of legal and regulatory constraints, is necessary for developing students economic and business literacy. The development of the skills, attitudes and knowledge that individuals need to effectively manage their life, learning and work roles in the 21st century is vital.
Economics and Business Knowledge and Understanding; where the knowledge and understandings as a whole cover the four key ideas of resource allocation and making choices; consumer and financial literacy; enterprising behaviours and capabilities; and work and business environments. These are not proportional or hierarchical. Economics and Business Skills; where the skills to be applied are divided into five main categories of application, inquiry and research, analysis and synthesis, collaborative decision making and communication, reflection and response.From 5-10, do the 2 organising strands, Economics and Business knowledge and understanding; and Economics and Business skills, provide a useful organisational structure for the development of the Australian Curriculum: Economics and Business?
The knowledge and understandings will be drawn from the following: a) The nature of resource allocation, the role of opportunity cost and incentives in economic and business decision-making; the trade-offs involved when making decisions and the immediate and future consequences of these decisions. b) The role of production, distribution and exchange along with trade and globalisation in influencing Australia's living standards. c) Key elements of how economies and businesses operate, the role of consumers, producers and governments in decision-making, the interdependence of, and interactions between, the various sectors of the economy. d) The effect of key economic and business decisions related to sustainable development, social justice and equity in local, national, regional and global contexts.
e) Consumer and financial literacy strategies and the importance of making effective, informed consumer and financial decisions. f) The importance and role of enterprising behaviours, along with dynamic entrepreneurship and innovation, in the development and prosperity of an economy. g) Aspects of business management and decision-making, such as business planning, marketing, operations and finance. h) How the changing nature of work affects the interests of employers, employees, unions and work-related groups; the role of government in affecting the world of work; and employment opportunities. i) The way in which technology has transformed the business environment and the different skill sets and capabilities, including teamwork and collaborative effort, required to meet the needs of dynamic work environments in a local, national, regional and global contexts
Application This involves, for example, developing and applying economic and business reasoning and interpretation (including forecasting and predicting); developing and applying a range of consumer and financial literacy strategies; and developing and applying a range of enterprising behaviours and capabilities across economic and business contexts. It also includes the application of economic and business operation principles, including cost-benefit analysis, to inform decision-making and solve problems across a range of economic and business scenarios. Inquiry and research This involves, for example, identifying and clarifying contemporary economic and business issues from a variety of sources, including media; selecting and organising economic and business information and preparing analytical reports; planning and conducting investigations in order to research economic or business issues. Analysis and synthesis This involves, for example, interpreting and analysing data from a variety of sources, including the electronic media, reports, and graphs and tables that display data; interpreting and critiquing media messages, including the interests and value systems that underpin them. Collaborative decision-making This involves, for example, developing teamwork skills in order to work in a cooperative and creative way to achieve productive outcomes; making effective and informed decisions, and recognising the effect of these decisions on themselves and others. Students evaluate economic, social and environmental consequences of proposed decisions, innovations, policies and practices in local, national, regional and global contexts. Communication, reflection and response This involves, for example, forming and expressing opinions and taking action on economic and business issues that have a personal, local, national, regional or global effect or interest; communicating the intended and unintended consequences of economic and business decisions, particularly in the context of economic viability, social equity and justice and environmental sustainability.
While Economics and Business does not have a formal entry point in the curriculum until Year 5, there are prior informal learning experiences across Foundation to Year 4 that students will bring with them. These experiences will be drawn from students‟ participation in family life, their community, and possibly from activities within other learning areas and will provide a foundation for the formal learning beginning in Year 5. Typically, during Foundation to Year 4, students will have been exposed to simple economic and business based concepts and experiences that fit within the four underpinning key ideas: Resource allocation and making choices: such as identifying resources, the way local resources are used to make goods and services that meet local people’s needs and wants as well as the needs and wants of people in other places; making choices recognising the alternative ways of using resources, such as how they spend their time. Consumer and financial literacy strategies: such as saving and spending and why they would choose to do either, and the effects of their decisions on themselves and others. Enterprising behaviours and capabilities: such as planning for classroom and/or school events, for example a school fair, and anticipating and solving problems that arise. Work and business environments: such as the nature of work, for example why people need to work, paid and unpaid work, the contribution of work to society and working collaboratively with others to achieve a common goal; recognising what a business does, different types of businesses, and how businesses decide what to produce or sell.
The formal curriculum for Economics and Business commences. The focus is the underpinning economic and business key ideas in the context of personal, local and state or territory based communities (with some extension to national and regional communities where appropriate) through the introduction of basic economic and business concepts. Is the following description and scope and sequence of Business and Economics in Years 5-6 appropriate?Students can begin to understand and appreciate: the concepts of resource allocation, opportunity cost the difference between needs and wantsthe role and interdependence of consumers, workers and producers in the economy. Students begin to appreciate the way decisions about: how resources are used, influence the wellbeing of themselves, their family and others. They begin to develop: personal consumer and financial strategies and understand the importance of making informed decisions and the effect these decisions have on individuals, others and the environment.Students recognise the importance of developing enterprising behaviours:such as initiative and problem-solving apply these in a variety of personal and community settings. They explore the characteristics of the world of work in a changing business environment, including paid and unpaid work. Students will use the inquiry process to plan investigations about contemporary economic and business issues of personal or local interest and form and communicate conclusions based on evidence.
In Years 7-8, the curriculum will build on the knowledge and understanding developed from Years 5-6. Students will be encouraged to apply their knowledge, understandings and skills through participation in activities that encapsulate a range of economics and business contexts. Students develop personal financial literacy skills and understand the importance of being an informed consumer. They learn about the nature of business, business ownership and operation, the legal and regulatory settings, and the nature of work in these environments. Students begin to gain an understanding of markets, how buyers and sellers affect price, competition and the role of government in influencing economic activity and wellbeing and living standards. They understand the role and importance that enterprising behaviours and capabilities play in a market based economy.
The senior secondary choices should take into account students’ future options for training, learning and employment and provide specialisation in areas where students have previously experienced success and enjoyment.
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