RationaleAs mass global flows of people, resources, finances and information produce social, economic, political and environmental complexities and challenges, Australia needs enterprising individuals who can make informed decisions and actively participate in society and the economy as individuals and more broadly as global citizens.
AimsThe Australian Curriculum: Economics and Business aims to aims to ensure students develop:
enterprising behaviours and capabilities that can be transferable into life, work and business opportunities and will contribute to the development and prosperity of individuals and society
StructureThe Australian Curriculum: Economics and Business is organised in two related strands: economics and business knowledge and understanding, and economics and business inquiry and skills.
PDF documentsResources and support materials for the Australian Curriculum: Economics and Business are available as PDF documents.
Economics and Business: Sequence of content 7-10
Economics and Business: Sequence of achievement 7-10
Year 7 Level Description
The Year 7 curriculum gives students the opportunity to further develop their understanding of economics and business concepts by exploring what it means to be a consumer, a worker and a producer in the market, and the relationships between these groups. Students explore the characteristics of successful businesses and consider how entrepreneurial behaviour contributes to business success. Setting goals and planning to achieve these goals are vital for individual and business success, and students consider approaches to planning in different contexts, while also considering different ways to derive an income. The emphasis in Year 7 is on personal, community, national or regional issues or events, with opportunities for concepts to also be considered in the global context where appropriate.
The economics and business content at this year level involves two strands: economics and business knowledge and understanding, and economics and business skills. These strands are interrelated and have been developed to be taught in an integrated way, and in ways that are appropriate to specific local contexts. The order and detail in which they are taught are programming decisions.
Students are expected to be taught the content through contemporary issues, events and/or case studies. Teachers will design programs that cover appropriate contexts and meet the needs of their students.
Key inquiry questions
A framework for developing students’ economics and business knowledge, understanding and skills at this year level is provided by the following key questions:
- Why is there a relationship between consumers and producers in the market?
- Why is personal, organisational and financial planning for the future important for consumers and businesses?
- How does entrepreneurial behaviour contribute to a successful business?
- What types of work exist and in what other ways can people derive an income?
Year 7 Content Descriptions
Questioning and research
Interpretation and analysis
Economic reasoning, decision-making and application
Communication and reflection
Year 7 Achievement Standards
By the end of Year 7, students describe the interdependence of consumers and producers in the market. They explain the importance of short- and long-term planning to individual and business success and identify different strategies that may be used. They describe the characteristics of successful businesses and explain how entrepreneurial capabilities contribute to this success. Students identify the reasons individuals choose to work and describe the various sources of income that exist.
When researching, students develop questions and gather data and information from different sources to investigate an economic or business issue. They interpret data to identify trends. They propose alternative responses to an issue and assess the costs and benefits of each alternative. They apply economics and business knowledge, skills and concepts to familiar problems. Students develop and present conclusions using appropriate texts, terms and concepts. They identify the effects of their decisions and the possible effects of alternative actions.