Consumer and financial literacy: Critical and Creative thinking

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The Critical and Creative Thinking capability is key to the development of consumer and financial literacy. Responding to the ever-changing consumer and financial landscape requires young people to be creative, innovative, enterprising and adaptable, with the motivation, confidence and skills to use critical and creative thinking purposefully. The Critical and Creative Thinking capability contributes to the development of the following dimensions of consumer and financial literacy.

Approximate proportion of the dimensions addressed by Creative and Critical Thinking

Through this capability, students develop the critical thinking skills of analysing, evaluating and synthesising information. They learn to discriminate between fact and opinion, question the reliability of evidence and draw reasoned conclusions. These are important skills for students when making sound consumer and financial decisions. Critical and Creative Thinking also equips young people to be innovative and manage opportunities at work, in the community and in their personal lives. Dispositions that enable students to effectively participate in the complex consumer and financial landscape, such as inquisitiveness, reasonableness, intellectual flexibility, open- and fair-mindedness, a readiness to try new ways of doing things and consider alternatives, and persistence are also enhanced by Critical and Creative Thinking.

Moneysmart for teachers and Tax, Super and You provide a number of interdisciplinary units and interactive activities that include aspects of the Critical and Creative Thinking capability.


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Typically, by the end of Year 8, students:

Identify and clarify information and ideas

clarify information and ideas from texts or images when exploring challenging issues

Organise and process information

critically analyse information and evidence according to criteria such as validity and relevance

Apply logic and reasoning

identify gaps in reasoning and missing elements in information

Typically, by the end of Year 8, students:

Pose questions

pose questions to probe assumptions and investigate complex issues

Imagine possibilities and connect ideas

draw parallels between known and new ideas to create new ways of achieving goals

Consider alternatives

generate alternatives and innovative solutions, and adapt ideas, including when information is limited or conflicting

Seek solutions and put ideas into action

predict possibilities, and identify and test consequences when seeking solutions and putting ideas into action

Transfer knowledge into new contexts

justify reasons for decisions when transferring information to similar and different contexts

Draw conclusions and design a course of action

differentiate the components of a designed course of action and tolerate ambiguities when drawing conclusions

Evaluate procedures and outcomes

explain intentions and justify ideas, methods and courses of action, and account for expected and unexpected outcomes against criteria they have identified