Economics and Business

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Rationale

As 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.

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Aims

The 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

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Structure

The Australian Curriculum: Economics and Business is organised in two related strands: economics and business knowledge and understanding, and economics and business inquiry and skills.

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PDF documents

Resources 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  

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Glossary

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Year 10

Year 10 Level Description

The Year 10 curriculum gives students the opportunity to further develop their understanding of economics and business concepts by considering Australia’s economic performance and standard of living. The ways governments manage economic performance to improve living standards is explored, along with the reasons why economic performance and living standards differ within and between economies. Students explore the nature of externalities and why the government intervenes to ensure that prices reflect the depletion of resources or costs to society. Students examine the consequences of decisions and the responses of business to changing economic conditions, including the way they manage their workforce.

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 different contexts (personal, local, national, regional, global) 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:

  • How is the performance of an economy measured?
  • Why do variations in economic performance in different economies exist?
  • What strategies do governments use to manage economic performance?
  • How do governments, businesses and individuals respond to changing economic conditions?

Year 10 Content Descriptions

Indicators of economic performance and how Australia’s economy is performing (ACHEK050 - Scootle )
  • identifying indicators of economic performance such as economic growth rates, unemployment trends, inflation rates, sustainability indexes
    • Sustainability
    Literacy

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Word Knowledge
    • Understand learning area vocabulary

    Text knowledge
    • Use knowledge of text structures

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

    Numeracy

    Recognising and using patterns and relationships
    • Recognise and use patterns and relationships

  • investigating the performance of the Australian economy using key indicators and explaining fluctuations using phases of the business cycle
    Literacy

    Word Knowledge
    • Understand learning area vocabulary

    Text knowledge
    • Use knowledge of text structures

    Comprehending texts through listening, reading and viewing
    • Interpret and analyse learning area texts
    • Navigate, read and view learning area texts

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Critical and Creative Thinking

    Reflecting on thinking and processes
    • Reflect on processes

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information
    • Pose questions

The links between economic performance and living standards, and how and why variations exist within and between economies (ACHEK051 - Scootle )
Critical and Creative Thinking

Inquiring – identifying, exploring and organising information and ideas
  • Pose questions
  • Organise and process information
  • Identify and clarify information and ideas

Generating ideas, possibilities and actions
  • Consider alternatives

Ethical Understanding

Reasoning in decision making and actions
  • Consider consequences
  • Reflect on ethical action

Exploring values, rights and responsibilities
  • Examine values
  • Consider points of view
  • Explore rights and responsibilities

  • defining ‘living standards’ and explaining its relationship to economic performance
    Literacy

    Grammar knowledge
    • Use knowledge of sentence structures

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Composing texts through speaking, writing and creating
    • Use language to interact with others
    • Compose spoken, written, visual and multimodal learning area texts

    Ethical Understanding

    Understanding ethical concepts and issues
    • Recognise ethical concepts

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

  • exploring the factors that can explain the variations in economic performance within or between economies (for example, high levels of foreign ownership, employment rates, levels of debt)
    Literacy

    Word Knowledge
    • Understand learning area vocabulary

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Text knowledge
    • Use knowledge of text structures

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Ethical Understanding

    Understanding ethical concepts and issues
    • Recognise ethical concepts
    • Explore ethical concepts in context

    Reasoning in decision making and actions
    • Reason and make ethical decisions

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

  • investigating economic performance and living standards and discussing how they can mean different things to different people and countries
    Literacy

    Grammar knowledge
    • Use knowledge of sentence structures
    • Express opinion and point of view
    • Use knowledge of words and word groups

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Composing texts through speaking, writing and creating
    • Use language to interact with others
    • Compose spoken, written, visual and multimodal learning area texts

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Ethical Understanding

    Exploring values, rights and responsibilities
    • Consider points of view

    Understanding ethical concepts and issues
    • Recognise ethical concepts
    • Explore ethical concepts in context

    Reasoning in decision making and actions
    • Reason and make ethical decisions

    Personal and Social Capability

    Self-management
    • Express emotions appropriately

    Social awareness
    • Appreciate diverse perspectives

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas
    • Pose questions

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning

    Reflecting on thinking and processes
    • Reflect on processes

  • investigating the ways living standards can be measured (for example, gross domestic product (GDP), Human Development Index (HDI) or total quality of life index)
    Literacy

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Comprehending texts through listening, reading and viewing
    • Interpret and analyse learning area texts
    • Navigate, read and view learning area texts

    Word Knowledge
    • Understand learning area vocabulary

    Text knowledge
    • Use knowledge of text structures

    Critical and Creative Thinking

    Reflecting on thinking and processes
    • Reflect on processes

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Pose questions
    • Organise and process information

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning

  • investigating the ways in which income and wealth are distributed in the economy, using measures such as an income distribution histogram, the Lorenz curve or the Gini coefficient
    Literacy

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Pose questions
    • Identify and clarify information and ideas

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning

    Reflecting on thinking and processes
    • Reflect on processes

    Numeracy

    Interpreting statistical information
    • Interpret data displays

    Using spatial reasoning
    • Interpret maps and diagrams

The ways that governments manage economic performance to improve living standards (ACHEK052 - Scootle )
Ethical Understanding

Exploring values, rights and responsibilities
  • Examine values
  • Explore rights and responsibilities
  • Consider points of view

Reasoning in decision making and actions
  • Reflect on ethical action
  • Consider consequences

  • identifying examples of fiscal and monetary policy options designed to improve the standard of living, such as productivity policy, training and workforce development, taxation, work visas, migration, buying or selling government securities
    Literacy

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Word Knowledge
    • Understand learning area vocabulary

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Text knowledge
    • Use knowledge of text structures

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

  • identifying examples of government intervention that aim to redistribute income (for example, pensions, youth allowance and job search), and goods and services such as health care and education
    Literacy

    Comprehending texts through listening, reading and viewing
    • Interpret and analyse learning area texts
    • Navigate, read and view learning area texts

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

    Generating ideas, possibilities and actions
    • Consider alternatives

    Ethical Understanding

    Understanding ethical concepts and issues
    • Explore ethical concepts in context
    • Recognise ethical concepts

    Exploring values, rights and responsibilities
    • Explore rights and responsibilities
    • Examine values

    Reasoning in decision making and actions
    • Reason and make ethical decisions

  • investigating how Australia supports economic growth in the Asia region through participating in the Asia-Pacific Economic Cooperation (APEC) forum
    • Asia and Australia’s Engagement with Asia
    Literacy

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Critical and Creative Thinking

    Reflecting on thinking and processes
    • Reflect on processes

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Pose questions
    • Organise and process information

    Intercultural Understanding

    Recognising culture and developing respect
    • Investigate culture and cultural identity

  • explaining the impact of minimum wage, government payments, taxation and government-funded services on living standards
    Literacy

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts
    • Use language to interact with others

    Text knowledge
    • Use knowledge of text structures

    Comprehending texts through listening, reading and viewing
    • Interpret and analyse learning area texts
    • Navigate, read and view learning area texts

    Grammar knowledge
    • Use knowledge of sentence structures

    Word Knowledge
    • Understand learning area vocabulary

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

  • identifying examples of externalities (that is, costs or benefits associated with the production or consumption of goods and/or services that affect the wellbeing of third parties or society more generally) and exploring the ways governments can influence or regulate these impacts to ensure prices reflect external costs
    Ethical Understanding

    Reasoning in decision making and actions
    • Reason and make ethical decisions

    Exploring values, rights and responsibilities
    • Examine values
    • Explore rights and responsibilities

    Understanding ethical concepts and issues
    • Recognise ethical concepts
    • Explore ethical concepts in context

    Literacy

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

Factors that influence major consumer and financial decisions and the short- and long-term consequences of these decisions (ACHEK053 - Scootle )
Personal and Social Capability

Social management
  • Make decisions

Ethical Understanding

Reasoning in decision making and actions
  • Reason and make ethical decisions
  • Reflect on ethical action
  • Consider consequences

  • identifying and explaining factors that influence major consumer decisions (for example, price, availability and cost of finance, marketing of products, age and gender of consumer, convenience, ethical and environmental considerations)
    Literacy

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts
    • Use language to interact with others

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Grammar knowledge
    • Use knowledge of sentence structures

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Ethical Understanding

    Reasoning in decision making and actions
    • Reason and make ethical decisions
    • Consider consequences
    • Reflect on ethical action

    Understanding ethical concepts and issues
    • Explore ethical concepts in context
    • Recognise ethical concepts

    Exploring values, rights and responsibilities
    • Explore rights and responsibilities

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

  • evaluating the outcomes of buying (for example, a car, using criteria such as the effect of loan repayments on disposable income, depreciation, maintenance and insurance costs compared with the benefits of independence, convenience and social status)
    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

    Generating ideas, possibilities and actions
    • Seek solutions and put ideas into action
    • Consider alternatives

    Analysing, synthesising and evaluating reasoning and procedures
    • Evaluate procedures and outcomes

    Literacy

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Word Knowledge
    • Understand learning area vocabulary

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Ethical Understanding

    Understanding ethical concepts and issues
    • Recognise ethical concepts

    Numeracy

    Estimating and calculating with whole numbers
    • Use money

    Using fractions, decimals, percentages, ratios and rates
    • Apply proportional reasoning

  • identifying the difference between minor and major consumer and financial decisions and listing examples of each
    Ethical Understanding

    Understanding ethical concepts and issues
    • Recognise ethical concepts
    • Explore ethical concepts in context

    Exploring values, rights and responsibilities
    • Explore rights and responsibilities

The ways businesses respond to changing economic conditions and improve productivity through organisational management and workforce management (ACHEK054 - Scootle )
Ethical Understanding

Exploring values, rights and responsibilities
  • Consider points of view
  • Examine values
  • Explore rights and responsibilities

Critical and Creative Thinking

Inquiring – identifying, exploring and organising information and ideas
  • Pose questions
  • Identify and clarify information and ideas
  • Organise and process information

  • describing ways in which businesses can improve productivity (for example, training, capital investment, investment in applications of technology, use of just-in-time inventory systems)
    Literacy

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Word Knowledge
    • Understand learning area vocabulary

    Grammar knowledge
    • Express opinion and point of view

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts
    • Use language to interact with others

    Text knowledge
    • Use knowledge of text structures

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

  • exploring ways businesses structure their working environment to provide flexible, efficient approaches (for example, horizontal (flat) or vertical (tall) organisational structures)
    Literacy

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

  • exploring the use of technology and the extent to which it has driven and allowed innovative responses by business
    Literacy

    Word Knowledge
    • Understand learning area vocabulary

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Text knowledge
    • Use knowledge of text structures

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

    Information and Communication Technology (ICT) Capability

    Applying social and ethical protocols and practices when using ICT
    • Identify the impacts of ICT in society

  • exploring the reasons for triple bottom line business planning and the possible implications for employees, competitors and the broader economy
    Literacy

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

  • identifying ethical and unethical workplace practices and investigating the impact of these practices on individuals
    Ethical Understanding

    Reasoning in decision making and actions
    • Consider consequences
    • Reason and make ethical decisions
    • Reflect on ethical action

    Exploring values, rights and responsibilities
    • Explore rights and responsibilities
    • Consider points of view
    • Examine values

    Understanding ethical concepts and issues
    • Recognise ethical concepts
    • Explore ethical concepts in context

    Literacy

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Text knowledge
    • Use knowledge of text structures

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Word Knowledge
    • Understand learning area vocabulary

    Critical and Creative Thinking

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Pose questions
    • Identify and clarify information and ideas

    Reflecting on thinking and processes
    • Reflect on processes

  • investigating ways that businesses have responded to improving economic conditions (for example, increasing their research and development funding to create innovative products, adjusting marketing strategies to expand their market share, upskilling their workforce to improve productivity)
    Literacy

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Pose questions
    • Identify and clarify information and ideas

    Reflecting on thinking and processes
    • Reflect on processes

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning

Questioning and research

Develop questions and hypotheses about an economic or business issue or event, and plan and conduct an investigation (ACHES055 - Scootle )
Critical and Creative Thinking

Reflecting on thinking and processes
  • Transfer knowledge into new contexts
  • Reflect on processes

Inquiring – identifying, exploring and organising information and ideas
  • Organise and process information
  • Identify and clarify information and ideas
  • Pose questions

Analysing, synthesising and evaluating reasoning and procedures
  • Apply logic and reasoning
  • Draw conclusions and design a course of action

Literacy

Text knowledge
  • Use knowledge of text structures

Composing texts through speaking, writing and creating
  • Compose spoken, written, visual and multimodal learning area texts
  • Compose texts

Grammar knowledge
  • Use knowledge of sentence structures

Comprehending texts through listening, reading and viewing
  • Comprehend texts
  • Navigate, read and view learning area texts
  • Interpret and analyse learning area texts

Word Knowledge
  • Use spelling knowledge
  • Understand learning area vocabulary

Ethical Understanding

Reasoning in decision making and actions
  • Consider consequences
  • Reason and make ethical decisions
  • Reflect on ethical action

Personal and Social Capability

Social awareness
  • Contribute to civil society

  • establishing questions to form the basis of an economic or business investigation into an issue or event, such as ‘Why do standards of living differ within an economy?’, or formulating a hypothesis such as ‘Responding to an upswing in the economy with expansionary measures will improve business productivity’
    Literacy

    Word Knowledge
    • Use spelling knowledge
    • Understand learning area vocabulary

    Grammar knowledge
    • Use knowledge of sentence structures

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Text knowledge
    • Use knowledge of text structures

    Ethical Understanding

    Understanding ethical concepts and issues
    • Recognise ethical concepts
    • Explore ethical concepts in context

    Reasoning in decision making and actions
    • Reason and make ethical decisions

    Critical and Creative Thinking

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning
    • Draw conclusions and design a course of action

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Pose questions
    • Organise and process information

    Reflecting on thinking and processes
    • Transfer knowledge into new contexts
    • Reflect on processes

    Personal and Social Capability

    Social awareness
    • Contribute to civil society

  • devising the steps needed for an investigation, and evaluating and modifying the plan or adjusting the research focus as appropriate
    Literacy

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Word Knowledge
    • Understand learning area vocabulary

    Text knowledge
    • Use knowledge of text structures

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Critical and Creative Thinking

    Reflecting on thinking and processes
    • Transfer knowledge into new contexts

    Analysing, synthesising and evaluating reasoning and procedures
    • Draw conclusions and design a course of action
    • Evaluate procedures and outcomes
    • Apply logic and reasoning

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

Gather relevant and reliable data and information from a range of digital, online and print sources (ACHES056 - Scootle )
Literacy

Comprehending texts through listening, reading and viewing
  • Navigate, read and view learning area texts
  • Interpret and analyse learning area texts
  • Comprehend texts

Word Knowledge
  • Understand learning area vocabulary

Visual Knowledge
  • Understand how visual elements create meaning

Critical and Creative Thinking

Inquiring – identifying, exploring and organising information and ideas
  • Organise and process information
  • Identify and clarify information and ideas

Generating ideas, possibilities and actions
  • Consider alternatives

Information and Communication Technology (ICT) Capability

Investigating with ICT
  • Locate, generate and access data and information
  • Define and plan information searches

Numeracy

Interpreting statistical information
  • Interpret data displays

  • collecting data and information from a variety of sources relevant to the issue or event being investigated
    Literacy

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Comprehending texts through listening, reading and viewing
    • Interpret and analyse learning area texts
    • Navigate, read and view learning area texts

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

    Generating ideas, possibilities and actions
    • Seek solutions and put ideas into action

    Numeracy

    Interpreting statistical information
    • Interpret data displays

  • representing data and information in a format to aid interpretation and analysis (for example, providing a timeline of events and/or providing a graph showing changes in data)
    Literacy

    Visual Knowledge
    • Understand how visual elements create meaning

    Word Knowledge
    • Understand learning area vocabulary
    • Use spelling knowledge

    Text knowledge
    • Use knowledge of text cohesion
    • Use knowledge of text structures

    Composing texts through speaking, writing and creating
    • Use language to interact with others
    • Deliver presentations
    • Compose spoken, written, visual and multimodal learning area texts

    Grammar knowledge
    • Use knowledge of words and word groups
    • Use knowledge of sentence structures

    Critical and Creative Thinking

    Reflecting on thinking and processes
    • Transfer knowledge into new contexts
    • Reflect on processes
    • Think about thinking (metacognition)

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

    Numeracy

    Using spatial reasoning
    • Interpret maps and diagrams

    Interpreting statistical information
    • Interpret data displays

  • determining the source and reliability of data and information and explaining assumptions or missing information in sources that may affect reliability
    Literacy

    Word Knowledge
    • Understand learning area vocabulary

    Comprehending texts through listening, reading and viewing
    • Interpret and analyse learning area texts
    • Navigate, read and view learning area texts

    Grammar knowledge
    • Use knowledge of sentence structures

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts
    • Use language to interact with others

    Text knowledge
    • Use knowledge of text structures

    Numeracy

    Interpreting statistical information
    • Interpret data displays

    Ethical Understanding

    Understanding ethical concepts and issues
    • Explore ethical concepts in context
    • Recognise ethical concepts

    Reasoning in decision making and actions
    • Reason and make ethical decisions

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning

Interpretation and analysis

Analyse data and information in different formats to explain cause-and-effect relationships, make predictions and illustrate alternative perspectives (ACHES057 - Scootle )
Critical and Creative Thinking

Generating ideas, possibilities and actions
  • Consider alternatives

Analysing, synthesising and evaluating reasoning and procedures
  • Draw conclusions and design a course of action
  • Apply logic and reasoning

Reflecting on thinking and processes
  • Transfer knowledge into new contexts

Inquiring – identifying, exploring and organising information and ideas
  • Identify and clarify information and ideas
  • Organise and process information

Literacy

Composing texts through speaking, writing and creating
  • Compose texts
  • Use language to interact with others
  • Compose spoken, written, visual and multimodal learning area texts

Comprehending texts through listening, reading and viewing
  • Interpret and analyse learning area texts
  • Comprehend texts
  • Navigate, read and view learning area texts

Grammar knowledge
  • Use knowledge of sentence structures

Word Knowledge
  • Understand learning area vocabulary

Visual Knowledge
  • Understand how visual elements create meaning

Text knowledge
  • Use knowledge of text structures

Ethical Understanding

Exploring values, rights and responsibilities
  • Consider points of view

Numeracy

Interpreting statistical information
  • Interpret data displays

Recognising and using patterns and relationships
  • Recognise and use patterns and relationships

  • categorising and interpreting data and information collected into a form that shows multiple perspectives around an issue/event
    Critical and Creative Thinking

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

    Literacy

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Word Knowledge
    • Understand learning area vocabulary

    Text knowledge
    • Use knowledge of text structures

    Personal and Social Capability

    Social awareness
    • Appreciate diverse perspectives

    Numeracy

    Interpreting statistical information
    • Interpret data displays

  • interpreting a range of measures of economic performance and standards of living to identify differences within and between economies
    Literacy

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Word Knowledge
    • Understand learning area vocabulary

    Text knowledge
    • Use knowledge of text structures

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning

    Generating ideas, possibilities and actions
    • Consider alternatives

    Reflecting on thinking and processes
    • Reflect on processes

  • explaining relationships identified in data (for example, the relationship between standards of living, infant mortality and access to health services)
    Literacy

    Grammar knowledge
    • Use knowledge of sentence structures

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Composing texts through speaking, writing and creating
    • Use language to interact with others
    • Compose spoken, written, visual and multimodal learning area texts

    Numeracy

    Interpreting statistical information
    • Interpret data displays

    Recognising and using patterns and relationships
    • Recognise and use patterns and relationships

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

  • analysing information to make informed choices (for example, when purchasing goods and services)
    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

    Generating ideas, possibilities and actions
    • Consider alternatives

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning
    • Draw conclusions and design a course of action

    Ethical Understanding

    Reasoning in decision making and actions
    • Consider consequences
    • Reason and make ethical decisions
    • Reflect on ethical action

    Understanding ethical concepts and issues
    • Recognise ethical concepts
    • Explore ethical concepts in context

    Exploring values, rights and responsibilities
    • Consider points of view

    Literacy

    Comprehending texts through listening, reading and viewing
    • Interpret and analyse learning area texts
    • Navigate, read and view learning area texts

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

Economic reasoning, decision-making and application

Generate a range of viable options in response to an economic or business issue or event, use cost-benefit analysis and appropriate criteria to recommend and justify a course of action and predict the potential consequences of the proposed action (ACHES058 - Scootle )
Numeracy

Estimating and calculating with whole numbers
  • Use money
  • Estimate and calculate

Literacy

Comprehending texts through listening, reading and viewing
  • Comprehend texts
  • Interpret and analyse learning area texts
  • Navigate, read and view learning area texts

Grammar knowledge
  • Use knowledge of sentence structures

Text knowledge
  • Use knowledge of text structures

Composing texts through speaking, writing and creating
  • Compose texts
  • Compose spoken, written, visual and multimodal learning area texts

Word Knowledge
  • Understand learning area vocabulary

Critical and Creative Thinking

Analysing, synthesising and evaluating reasoning and procedures
  • Evaluate procedures and outcomes
  • Apply logic and reasoning
  • Draw conclusions and design a course of action

Generating ideas, possibilities and actions
  • Consider alternatives
  • Seek solutions and put ideas into action

Reflecting on thinking and processes
  • Transfer knowledge into new contexts
  • Think about thinking (metacognition)
  • Reflect on processes

Inquiring – identifying, exploring and organising information and ideas
  • Identify and clarify information and ideas
  • Organise and process information

Ethical Understanding

Reasoning in decision making and actions
  • Consider consequences
  • Reason and make ethical decisions
  • Reflect on ethical action

  • deciding on a potential major purchase (for example, a car, investigating options, calculating the costs of different purchasing methods and estimating the long-term costs and benefits of owning the asset and repaying the debt)
    Critical and Creative Thinking

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information
    • Pose questions

    Reflecting on thinking and processes
    • Reflect on processes

    Literacy

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Word Knowledge
    • Understand learning area vocabulary

    Text knowledge
    • Use knowledge of text structures

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Personal and Social Capability

    Social management
    • Make decisions

    Numeracy

    Estimating and calculating with whole numbers
    • Estimate and calculate
    • Use money

  • examining the trade-offs businesses may need to consider when determining methods to improve their productivity (for example, employing more staff compared with upskilling existing staff)
    Literacy

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

    Analysing, synthesising and evaluating reasoning and procedures
    • Apply logic and reasoning

    Generating ideas, possibilities and actions
    • Consider alternatives

    Reflecting on thinking and processes
    • Reflect on processes

Apply economics and business knowledge, skills and concepts in familiar, new and hypothetical situations (ACHES059 - Scootle )
Critical and Creative Thinking

Inquiring – identifying, exploring and organising information and ideas
  • Organise and process information
  • Identify and clarify information and ideas

Generating ideas, possibilities and actions
  • Seek solutions and put ideas into action
  • Consider alternatives

Reflecting on thinking and processes
  • Transfer knowledge into new contexts

  • evaluating different types of loans to estimate the short- and long-term financial implications of each
    Literacy

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Word Knowledge
    • Understand learning area vocabulary

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Text knowledge
    • Use knowledge of text structures

    Critical and Creative Thinking

    Generating ideas, possibilities and actions
    • Consider alternatives

    Analysing, synthesising and evaluating reasoning and procedures
    • Evaluate procedures and outcomes

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

    Reflecting on thinking and processes
    • Transfer knowledge into new contexts

    Numeracy

    Recognising and using patterns and relationships
    • Recognise and use patterns and relationships

    Estimating and calculating with whole numbers
    • Estimate and calculate
    • Use money

  • applying enterprising behaviours to a class or independent activity (for example, by showing initiative and leadership, establishing goals that are meaningful and realistic, accepting responsibility)
    Literacy

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts
    • Use language to interact with others

    Comprehending texts through listening, reading and viewing
    • Interpret and analyse learning area texts
    • Navigate, read and view learning area texts

    Word Knowledge
    • Understand learning area vocabulary

    Grammar knowledge
    • Express opinion and point of view
    • Use knowledge of sentence structures

    Text knowledge
    • Use knowledge of text structures

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

    Generating ideas, possibilities and actions
    • Seek solutions and put ideas into action
    • Consider alternatives

    Reflecting on thinking and processes
    • Transfer knowledge into new contexts

    Numeracy

    Estimating and calculating with whole numbers
    • Use money

    Personal and Social Capability

    Self-management
    • Work independently and show initiative
    • Develop self-discipline and set goals

    Self-awareness
    • Understand themselves as learners
    • Recognise personal qualities and achievements

    Social management
    • Develop leadership skills
    • Make decisions
    • Work collaboratively

    Ethical Understanding

    Exploring values, rights and responsibilities
    • Explore rights and responsibilities
    • Examine values
    • Consider points of view

    Understanding ethical concepts and issues
    • Explore ethical concepts in context
    • Recognise ethical concepts

    Reasoning in decision making and actions
    • Reflect on ethical action
    • Reason and make ethical decisions
    • Consider consequences

  • using appropriate indicators of economic performance to explain variations across economies
    Literacy

    Text knowledge
    • Use knowledge of text structures

    Word Knowledge
    • Understand learning area vocabulary

    Grammar knowledge
    • Use knowledge of sentence structures

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Composing texts through speaking, writing and creating
    • Use language to interact with others
    • Compose spoken, written, visual and multimodal learning area texts

    Critical and Creative Thinking

    Reflecting on thinking and processes
    • Transfer knowledge into new contexts

    Generating ideas, possibilities and actions
    • Consider alternatives
    • Seek solutions and put ideas into action

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

    Numeracy

    Interpreting statistical information
    • Interpret data displays

    Recognising and using patterns and relationships
    • Recognise and use patterns and relationships

Communication and reflection

Present reasoned arguments and evidence-based conclusions in a range of appropriate formats using economics and business conventions, language and concepts (ACHES060 - Scootle )
Literacy

Text knowledge
  • Use knowledge of text structures
  • Use knowledge of text cohesion

Grammar knowledge
  • Use knowledge of words and word groups
  • Use knowledge of sentence structures
  • Express opinion and point of view

Word Knowledge
  • Understand learning area vocabulary
  • Use spelling knowledge

Composing texts through speaking, writing and creating
  • Compose spoken, written, visual and multimodal learning area texts
  • Use language to interact with others
  • Deliver presentations
  • Compose texts

Visual Knowledge
  • Understand how visual elements create meaning

Critical and Creative Thinking

Reflecting on thinking and processes
  • Transfer knowledge into new contexts
  • Reflect on processes
  • Think about thinking (metacognition)

Inquiring – identifying, exploring and organising information and ideas
  • Organise and process information
  • Identify and clarify information and ideas

  • using economics and business terms and concepts such as indicators, economic performance, business cycle, organisational structure, workforce management, interest rates
    Literacy

    Text knowledge
    • Use knowledge of text structures
    • Use knowledge of text cohesion

    Grammar knowledge
    • Use knowledge of sentence structures
    • Use knowledge of words and word groups

    Word Knowledge
    • Use spelling knowledge
    • Understand learning area vocabulary

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts

    Visual Knowledge
    • Understand how visual elements create meaning

    Critical and Creative Thinking

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

    Reflecting on thinking and processes
    • Transfer knowledge into new contexts

  • communicating findings of the investigation in appropriate formats (for example, web pages, financial statements, spreadsheets, graphs and reports)
    Critical and Creative Thinking

    Reflecting on thinking and processes
    • Reflect on processes
    • Think about thinking (metacognition)
    • Transfer knowledge into new contexts

    Generating ideas, possibilities and actions
    • Consider alternatives

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

    Literacy

    Text knowledge
    • Use knowledge of text structures
    • Use knowledge of text cohesion

    Grammar knowledge
    • Use knowledge of sentence structures
    • Use knowledge of words and word groups

    Word Knowledge
    • Understand learning area vocabulary
    • Use spelling knowledge

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts
    • Use language to interact with others
    • Deliver presentations

    Comprehending texts through listening, reading and viewing
    • Navigate, read and view learning area texts
    • Interpret and analyse learning area texts

    Visual Knowledge
    • Understand how visual elements create meaning

    Numeracy

    Interpreting statistical information
    • Interpret data displays

    Using spatial reasoning
    • Interpret maps and diagrams

    Information and Communication Technology (ICT) Capability

    Creating with ICT
    • Generate solutions to challenges and learning area tasks

  • developing texts for different audiences such as peers, businesses, the public, a business manager/entrepreneur, and for different purposes (for example, to persuade or inform)
    Critical and Creative Thinking

    Reflecting on thinking and processes
    • Transfer knowledge into new contexts
    • Reflect on processes
    • Think about thinking (metacognition)

    Inquiring – identifying, exploring and organising information and ideas
    • Identify and clarify information and ideas
    • Organise and process information

    Literacy

    Visual Knowledge
    • Understand how visual elements create meaning

    Composing texts through speaking, writing and creating
    • Use language to interact with others
    • Compose spoken, written, visual and multimodal learning area texts
    • Deliver presentations

    Grammar knowledge
    • Express opinion and point of view
    • Use knowledge of sentence structures

    Word Knowledge
    • Understand learning area vocabulary

    Text knowledge
    • Use knowledge of text structures

    Personal and Social Capability

    Social awareness
    • Appreciate diverse perspectives

Reflect on the intended and unintended consequences of economic and business decisions (ACHES061 - Scootle )
Critical and Creative Thinking

Reflecting on thinking and processes
  • Transfer knowledge into new contexts
  • Reflect on processes
  • Think about thinking (metacognition)

Inquiring – identifying, exploring and organising information and ideas
  • Organise and process information
  • Identify and clarify information and ideas

Ethical Understanding

Reasoning in decision making and actions
  • Reflect on ethical action

  • discussing the outcomes of a decision, identifying those that were intended and unintended and reflecting on strategies that may address the unintended consequences
    Literacy

    Grammar knowledge
    • Use knowledge of words and word groups
    • Use knowledge of sentence structures
    • Express opinion and point of view

    Word Knowledge
    • Understand learning area vocabulary

    Comprehending texts through listening, reading and viewing
    • Interpret and analyse learning area texts

    Composing texts through speaking, writing and creating
    • Compose spoken, written, visual and multimodal learning area texts
    • Use language to interact with others

    Text knowledge
    • Use knowledge of text structures

    Ethical Understanding

    Reasoning in decision making and actions
    • Consider consequences
    • Reflect on ethical action
    • Reason and make ethical decisions

    Understanding ethical concepts and issues
    • Recognise ethical concepts
    • Explore ethical concepts in context

    Critical and Creative Thinking

    Reflecting on thinking and processes
    • Reflect on processes
    • Transfer knowledge into new contexts
    • Think about thinking (metacognition)

    Inquiring – identifying, exploring and organising information and ideas
    • Organise and process information
    • Identify and clarify information and ideas

    Personal and Social Capability

    Social awareness
    • Appreciate diverse perspectives

    Self-management
    • Express emotions appropriately


Year 10 Achievement Standards

By the end of Year 10, students explain why and how governments manage economic performance to improve living standards. They give explanations for variations in economic performance and standards of living within and between economies. They analyse factors that influence major consumer and financial decisions and explain the short- and long-term effects of these decisions. They explain how businesses respond to changing economic conditions and improve productivity. Students evaluate the effect of organisational and workforce management on business performance.

When researching, students develop questions and formulate hypotheses to frame an investigation of an economic or business issue or event. They gather and analyse reliable data and information from different sources to identify trends, explain relationships and make predictions. Students generate alternative responses to an issue, taking into account multiple perspectives. They use cost-benefit analysis and appropriate criteria to propose and justify a course of action. They apply economics and business knowledge, skills and concepts to familiar, unfamiliar and complex hypothetical problems. Students develop and present evidence-based conclusions and reasoned arguments incorporating different points of view. They use appropriate texts, subject-specific language, conventions and concepts. They analyse the intended and unintended effects of economic and business decisions and the potential consequences of alternative actions.


Year 10 Work Sample Portfolios