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 10, students:

Identify and clarify information and ideas

clarify complex information and ideas drawn from a range of sources

Organise and process information

critically analyse independently sourced information to determine bias and reliability

Apply logic and reasoning

analyse reasoning used in finding and applying solutions, and in choice of resources 

Typically, by the end of Year 10, students:

Pose questions

pose questions to critically analyse complex issues and abstract ideas

Imagine possibilities and connect ideas

create and connect complex ideas using imagery, analogies and symbolism

Consider alternatives

speculate on creative options to modify ideas when circumstances change

Seek solutions and put ideas into action

assess risks and explain contingencies, taking account of a range of perspectives, when seeking solutions and putting complex ideas into action

Transfer knowledge into new contexts

identify, plan and justify transference of knowledge to new contexts

Draw conclusions and design a course of action

use logical and abstract thinking to analyse and synthesise complex information to inform a course of action

Evaluate procedures and outcomes

evaluate the effectiveness of ideas, products and performances and implement courses of action to achieve desired outcomes against criteria they have identified