Data and Decisions
Types Of Connections
Rationale
Understanding the consequences of financial decisions encourages us to think critically about our options, and allows us to participate in the world of business and economics.
Investigation Into
- The difference between needs and wants.
- Types of resources we have, and how we use them.
- The nature and meaning of work.
- Developing a business plan.
Essential Questions
- What is the difference between needs and wants?
- What are the types of resources that we have, and how do we use them?
- What is the nature and meaning of work?
- How do you put together a business plan?
Future Action
Students will be able to identify and investigate contemporary economic and business issues or events. They will apply economic and business reasoning and interpretation to solve problems and understand the behaviour of participants in the economy. Students will understand how decisions will shape their future and think critically about their options.
Pretesting and Familiarisation
The Concept of Connections
Your students will learn about different types of connections as they consider how occupations are connected with each other.
Your students will learn about different types of connections as they consider how occupations are connected with each other.
Pretest
Your students will complete a pretest about business and economics.
Your students will complete a pretest about business and economics.
Immersion
Your students will be immersed into the world of investing as they watch a clip from Shark Tank.
Your students will be immersed into the world of investing as they watch a clip from Shark Tank.
Introducing the Unit
Your students will learn what they will be doing during this learning sequence.
Your students will learn what they will be doing during this learning sequence.
Glossary of Connections
Your students will learn the glossary of this learning sequence.
Your students will learn the glossary of this learning sequence.
Habit of Mind: Managing Impulsivity
Your students will learn about the habit of Managing Impulsivity.
Your students will learn about the habit of Managing Impulsivity.
Habit of Mind: Finding Humour
Your students will learn about the habit of Finding Humour.
Your students will learn about the habit of Finding Humour.
Learning Opportunities
Budgeting Needs and Wants
Your students will explore the difference between needs and wants as they select what items to buy for an imaginary family.
Your students will explore the difference between needs and wants as they select what items to buy for an imaginary family.
Types of Resources
Your students will learn about types of resources and how they are used in your school.
Your students will learn about types of resources and how they are used in your school.
Opportunity Cost
Your students will learn about opportunity cost as they conduct an experiment producing imaginary products.
Your students will learn about opportunity cost as they conduct an experiment producing imaginary products.
Analysing Employment Data: Australia
Your students will learn about the different industries that employ Australians as they complete a tutorial on how to use a spreadsheet.
Your students will learn about the different industries that employ Australians as they complete a tutorial on how to use a spreadsheet.
Analysing Employment Data: My Community
Your students will learn about different types of employment and reasons for work as they analyse the employment data for their local community.
Your students will learn about different types of employment and reasons for work as they analyse the employment data for their local community.
Advances in Technology
Your students will consider how changes in technology have changed the way people work and what skills are important in a future economy.
Your students will consider how changes in technology have changed the way people work and what skills are important in a future economy.
Business Plan: Comparing Competitors
Your students will work in groups as they analyse competing products or services.
Your students will work in groups as they analyse competing products or services.
Business Plan: Designing Market Research
Your students will develop a survey to learn what younger students need and want.
Your students will develop a survey to learn what younger students need and want.
Business Plan: Conducting Market Research
Your students will conduct their survey with younger students.
Your students will conduct their survey with younger students.
Business Plan: Analysing Market Research
Your students will use their market research to develop an idea for their product or service.
Your students will use their market research to develop an idea for their product or service.
Business Plan: Resources
Your students will think of the natural, human and capital resources that they will need to produce and sell their product or service.
Your students will think of the natural, human and capital resources that they will need to produce and sell their product or service.
Business Plan: Preparing a Pitch
Your students will work in groups to prepare a slideshow to present their business plan.
Your students will work in groups to prepare a slideshow to present their business plan.
Demonstration of Understanding
Business Plan: Pitching a Business Idea
Your students will present their business plan to younger students.
Your students will present their business plan to younger students.
Future Action and Independent Inquiry
Future Action
Your students will consider what they could do to turn the winning business idea into a real business.
Your students will consider what they could do to turn the winning business idea into a real business.
Planning an Independent Inquiry
Your students will plan an inquiry into an aspect of this learning sequence that they would like to learn more about.
Your students will plan an inquiry into an aspect of this learning sequence that they would like to learn more about.
Conducting an Independent Inquiry
Your students will practise the skills of questioning, research and working independently as they conduct an inquiry into a topic that they have learnt about during this unit.
Your students will practise the skills of questioning, research and working independently as they conduct an inquiry into a topic that they have learnt about during this unit.