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Humanities and Social Sciences

Year 10 Business and Economics Course Outline Semester One 2017

Economics Performance and Living Standards

The Year 10 curriculum provides a study of economics and business, with an emphasis on the performance of the Australian economy and living standards. The program is
based on key concepts that will immerse the students in the study of Australias economy on a local and global scale. There will be a focus on Australias employment rates,
wages and distribution of wealth in an economy and the performance on budgets developed by government in key public sectors such as health and education.

Year 10: Economics and Business

West Australian Curriculum Economics and Business Year 10

Key Inquiry Questions

How is performance of an economy measured?

Why do variations in economic performance in different economies exist?

What strategies do governments use to manage the economy?

How do governments, businesses and individuals respond to changing economic conditions?


We Topic Content Skills/Concepts Suggested activities/resources Assessment
ek Tasks

1 Career & The potential of the ongoing labour market Skills: Career voyage questionnaire
Enterprise disadvantage of leaving school without qualification
Analysing
The role of ongoing education and training in Evaluating
gaining and keeping work
Concepts
Benefits of accessing ongoing education and training
Career development
Concept of personal development opportunities
Education and training

2 Career & The need to choose professional development Skills: Writing CV


Enterprise opportunities that align to own skills, attributes,
Questioning and research
values and interests
Evaluation
Impact of challenging and unexpected events on the
school to work transition Concepts:

Strategies to find and access appropriate information Specialisation and trade
sources Networking

Changes to personal networks after leaving school

3 Career & The concept that personal and social networks can Skills:
Enterprise assist in gaining and keeping work
Analysing
Identify own skills, attributes, interest and knowledge
Concepts:
Use self-reflection to make decisions of own
suitability for a particular job including consideration Making choices
of personal values, likes and dislikes and strengths
and weaknesses

4 Career & Career voyage task and assessment Skills: Brainstorm what is meant by Inquiry: Career
Enterprise/ economic performance & Enterprise
Factors affecting a nations economic performance Analysing
Performan
ce of Evaluating
Australian (land, labour, capital, enterprise, political stability) Data for Australia
economy Concepts:
Indicators of economic performance http://www.tradingeconomics.co
Economic performance and m/australia/indicators
Comparing Australias performance with other living standards ABS Measures of Australias
developed nations Progress

Link between economic performance and living http://www.abs.gov.au/ausstats/


standards abs@.nsf/Lookup/1370.0main+fe
atures392013
Variations that exist within and between economies
UN Human Development Reports
Identifying reasons why some economies perform http://hdr.undp.org/en/data
better than others

Pearson Humanities & Social
Sciences 10 pg 64-73

5 Skills: Brainstorm:
How is the government involved
Economic Definitions of Economic Growth, Gross Domestic analysing
in the economy?
Growth Product, Intermediate Good and Final Good evaluating
Why the involvement?

How economic growth is measured What government provides?
Concepts:
Why?
Factors that contribute to Australias economic economic performance and A study of the Budget
growth living standards Commonwealth; State and its
allocation and markets outcomes?
Effects of economic growth: Positive and negative
Examination of particular ways
governments manage the
What the Government can do to promote economic
economy:
growth
to improve economic
performance
to minimise externalities
Regulation of business activity to
prevent monopolies; collusion re
prices/interest rates. Study of the
role and actions taken by ASIC;
ACCC
Mining and pollution control and
the associated regulations and
their enforceability

Pearson Humanities and Social


Science pg 78-83

6 Skills: Data interpretation using a End of unit


variety of criteria, coming to an test:
Unemploy Definition of unemployment, unemployment rate, analysing understanding of what each term Knowledge
ment & participation rate evaluating means through the analysis Test
Inflation
Types of unemployment/causes of unemployment Concepts:
Are living standards the same
How unemployment is measured/Effects of economic performance and throughout Australia? Why the
Unemployment living standards differences? A direct comparison
between urban, rural and remote
What the Government can do to reduce Australia using specific criteria:
unemployment unemployment; ethnicity; age;
gender.
Define inflation, inflation rate, consumer price index

How inflation is measured Use of:

Types of inflation/causes of inflation Genuine Progress Indicator (GPI)


Measuring Australias Progress
Effects of inflation/Policies to reduce inflation
(MAP)
The Human Development Index
(HDI)

http://www.tsfx.com.au/wp-
content/uploads/2012/06/vic-
sample-notes-economicsx.pdf
7 The ways in which Governments redistribute income Skills: Explore the need to prioritise
when making major consumer
Role of the Regulating business Analysing and financial decisions.
Governme
Possible studies:
nt/ Stabilising the economy (Global Financial Crisis) Concepts:
Consumer comparison of mobile phone
Why the Government needs to provide public goods Scarcity plans
and
financial Making choices buying a motor car and its
How the Government promotes competition (Define
decisions maintenance
monopolies, oligopoly)
assessing credit cards
Marketing of products
Pearson Humanities and Social
Short term and long term consequences of decisions Sciences pg 74-77

Pearson Humanities and Social


Sciences pg 85 - 97

8 Skills: Examples of particular


Australians/businesses
Improved The way businesses organise themselves to improve questioning and research who/which have built
economic productivity evaluation international businesses:
conditions
Ways that businesses respond to improved economic Concepts: Janine Allis and Boost Juice
conditions Graham Turner and Flight
interdependence Centre
Marketing strategies (expanding market share) specialisation and trade McDonalds/Dell and just-in
time inventory systems
Increase in research and development of innovative Use examples to explore:
products
how a business organises itself
to improve productivity
how a business responds to
improved economic conditions
Use this study to devise a series of
questions to ask invited speakers
to talk of their experiences

Boost Juice
http://www.boostjuice.com.au/a
bout
Janine Allis

http://www.janineallis.com.au/
Graham Turner Flight Centre

http://www.afr.com/leadership/is
-graham-turner-australias-most-
entrepreneurial-ceo-20130529-
jyudt
Just-in-time inventory system
case study

http://www.inventorymanageme
ntreview.org/justintime/
Guest Speaker(s) talking about
their (small) business
Students submit questions to be
addressed

Pearson Humanities and Social


Science pg 98 - 103