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Inquiry Focus Statement:

Money makes the world go round, economy and businesses are what makes the world the way it is and are an integral part of any community. Therefore
we need to understand the importance of money and its use. This unit focuses on developing the financial literacy of students with an aim to develop
transferable skills for real world decision making in the future within their community but also the world.
Key Skills: Inquiry Focus Questions Assessment:
Throughout this unit, students will have Why do we need economics for society Summative:
developed these skills (with example) to keep running? Creating their own business and having one lesson to work
Compose ways in which to be Why is it important to keep a budget? in collaboration with other businesses in the
more involved in the community. Why do we save money? Creating a poster that advertises the cost of a product,
(E.g. fund raising) What is money for? including a budget planner for their assessment
Prioritise needs over wants. Designing and planning their outing/fund raiser for the
Examine products they purchase Million paws walk.
as a consumer Victorian Curriculum: Formative:
Examine products they purchase History, Economics & Business 3-2-1 countdown:
as a consumer (identify whether Intercultural understanding and cross Exit/admit cards
what theyve purchased is worth curriculum priorities: Australias Using Kahoot for periodic quizzes
the cost) engagement with Asia and Sustainability. Reflective Journal
Discuss the scarcity differences

Teaching Proposal: Why is your inquiry focus statement important?

Why use inquiry pedagogy? Our focus statement is pivotal as it highlights the importance of students developing
The inquiry based approach is a pedagogical style that encourages active engagement in the understanding of the function of money in the world around them, how money is
learning by students. It is very much a pupil-centred process in which the questioning and used, how to use it wisely and be aware of that and how it drives our economy and
problems posed to and raised by the students drive the learning and helps to form their businesses. Through the development of financial literacy students are able to
understanding of the world around them (Lofgren et. al. 2013, p.482). As Gilbert & Hoepper understand the social, economic and environmental dimensions of the world in which
point out, despite it being a student-centred form of pedagogy this approach continues to they live (Gilbert & Hoepper, 2014 p280). Thus, allowing students to have a clearer
allow teachers to play a central and essential role [that is,] introducing, inspiring, understanding on what to expect in the world when they are older, teaching students
motivating, directing, monitoring and consolidating [student] learning. (2014, p.48). the importance of money will allow students to reconsider the way they think about
It is through this pedagogical approach that students develop their self-management skills. money. From their new knowledge of money students will not only understand the
It provides them a role in directing their own learning and in planning and carrying out importance of money, students will also build an understanding of the relationship
investigations, and provides them with opportunities to express and reflect on their between scarcity and choice (Gilbert & Hoepper, 2014 p282).
opinions, beliefs, values and questions appropriately (ACARA, cited in Gilbert & Hoepper Throughout these lessons, students will be able to understand how Australias
2014, p.48). Wallace goes into detail about some of the kinds of transferable skills students engagement with Asia plays an important role within our society and how this affects
develop with inquiry in the History strand of the Humanities discipline such as the ability their families as well themselves in the near future. In Week 4s recorded lecture
to ask relevant questions, to critically analyse and interpret sources and asking questions Harvie mentioned that, Students investigate factors affecting the Australian and
such as from whos point of view? (Wallace 2017). Analysing sources and looking at international economies and the role of government in establishing conditions for
history through many different points of views allow students to work on their empathy as economic activity and they develop the ability to use economic knowledge and
well their critical inquiry. understanding to evaluate economic decisions and policies. (Harvie 2015). Through
In creating learning contexts that reflect aspects of the real world and allowing students to the development of financial literacy, young students gain the opportunity to discover
develop these transferable skills, it is enabling students to become independent learners information and unpack the way in which economics work, thus thinking about ways
who have the ability to apply all their knowledge and skills to decisions they will have to in which to prepare for their future, giving students an insight into the world of
make in the future (ACARA, cited in Gilbert & Hoepper 2014, p.48) business and the process of economics in the community as well as the world.

EEO410 - By April Gu & Laura Sidea

Week 1: Week 2: Week 3: Week 4: Week 5:
Session 1: Session 1: Session 1: Session 1: Session 1:
Learning intention: Introducing Learning intention: Identifying Learning intention: Introducing Learning intention: Budgeting Learning intention: Running a small
Economics differences between needs and Budgeting relating to saving. business insight
Activity: Students create concept maps wants Activity: Students play a budgeting Activity: Students will be putting their Activity: Students discuss the
with words related to economics. Activity: Putting yourself into game to see how they budget their budgeting knowledge into practice at incursion experience, comparing local
Teacher Resource: others shoes. What would these money. the supermarket by making a list of businesses to supermarket giants. people need or want? Student Resource: important items against a limited Teacher Resource: Incursion local
plans-grades-3-5/43204-intro-to- Student Resource: Johnson, P & Hunter, L budget. milk bar/ convenience store owner
economics-and-economic-way-of- Johnson, P & Hunter, L Consumer Stuff between p. 49 and Student Resource: Excursion to local
thinking/#imgn_0 Consumer Stuff p.4 50. Opportunity Cost shops. Vic Curriculum: VCEBB006

Vic Curriculum: VCEBR001 Vic Curriculum: VCEBR001 Vic Curriculum: VCEBC004 Vic Curriculum: VCEBC004

Session 2: Session 2: Session 2: Session 2: Session 2:

Learning Intention: Introducing Money Learning Intention: Prioritising Learning Intention: Budgeting in Learning Intention: Consumer Learning Intention: Consumer
Activity: Students perform a role-play of a needs and wants relation to needs and wants knowledge, supermarket giants knowledge Advertisements
purchase being made using money. Activity: Students work out a Activity: Students reflect in their Activity: Students create a pic-
Teacher resource: task on what they would Activity: Students must budget for journal noting differences between collage advertisement to sell a prioritise in order to survive. their trip to the carnival, where they local businesses and supermarket product which will be presented to the
YgISA Econ Vids for Kids: What is Teacher resource: are expected to plan for food, and giants. community.
Money? video other wants like show bags. Student resource: Teacher resource:
Vic Curriculum: VCEBC004 Student Resource: Vic Curriculum: VCEBC004 412.htm about/packshot.htm Vic Curriculum: VCEBC004, Student resource:
ged/docs/activities/267.pdf VCEBB006
Vic Curriculum: VCEBR002 Vic Curriculum: VCEBC004
Week 6: Week 7: Week 8: Week 9: Week 10:
Session 1: Session 1: Session 1: Session 1: Session 1:
Learning intention: What is Scarcity? Learning intention: Australias Learning intention: Advertising Learning intention: Saving Money Learning intention: Knowledge as
Supply & Demand explained engagement with Asia Activity: Students create a poster Activity: Students create their own consumers
Activity: Students learn the nature of Activity: Students engage in advertisement . fundraising businesses and work out Activity: Students create diagrams
supply and demand through a simulation scavenger hunt. How many of Teacher Resource: what kind of budget is required to save on how occupations/businesses
game in which limited resources put our material goods come from funds in order to donate to the depend on one another.
students to the test. Who will be the last Asia that we rely on? events-and-you/life-events/getting-a- RSPCA.
man standing? Teacher resource: pet/the-cost-of-a-pet Teacher resource:
Teacher Resource: Student resource: Teacher resource: modified to select numbers er-Groups/Sustainable- Poster making with Phoster http://econ-
of resources, Johnson, P & Hunter, L Development
Consumer Stuff p.54 d396306670?6w2MZjx1tIA Vic Curriculum: VCEBC004
Skeleton Island Victorian Curriculum: Vic Curriculum: VCEBC004 Vic Curriculum: VCEBC004
Vic Curriculum: VCEBR001
Session 2: Session 2: Session 2: Session 2: Session 2:
Learning Intention: Entrepreneurship Learning Intention: Scarcity in Learning Intention: Supply & Learning Intention: Preparation to be Learning Intention: Summarising
Activity: Students create a comic to regards to Sustainability demand in the wider community Economics
illustrate ways of becoming an Activity: Students experience Activity: Students have a simulation Activity: Students choose a career Activity: Students play speed dating
entrepreneur. another simulated example of game relating to supply and demand. and answer scenarios based on the to test their economic vocabulary.
Teacher & student resources: scarcity through the use of Teacher resource: income on their scenario cards. ideas and concepts from here popcorn. Modified version: Teacher resource:
resources/lesson- Teacher resource: ttps:// /Product/Economics-Quiz-3rd-4th-or-
plans/entrepreneurship#activity-be-an- Product/Supply-and-Demand-Fun- Product/Middle-School-Economics- 5th-1109656
entrepreneur sons/popcorn.htm Interactive-Stations-1151934 Bundle-Budgeting-Check-Writing- Vic Curriculum: VCEBR001,
Vic Curriculum: VCEBR003, Career-Research-1528784 VCEBC004, VCEBC004
Vic Curriculum: VCEBN009 VCEBR001 Vic Curriculum: VCEBE010 Vic Curriculum: VCEBW007,