Professional Documents
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doubles)
Key questions
A framework for
developing students
economics and business
knowledge, understanding
and skills at this year level
is provided by the
following key questions:
- How is the
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?
Semester 2, 2015
KEY KNOWLEDGE
Indicators of economic performance and how Australias economy is performing (ACHEK050)
identifying indicators of economic performance such as economic growth rates, unemployment trends, inflation rates, sustainability
indexes
The links between economic performance and living standards, the variations that exist within and between economies, and the possible
causes (ACHEK051)
exploring the factors that can explain the variations in economic performance within or between economies, for example high levels of foreign
ownership, employment rates, levels of debt
investigating economic performance and living standards and discussing how they can mean different things to different people and countries
investigating the ways living standards can be measured, for example gross domestic product (GDP), Human Development Index (HDI) or total
quality of life index
investigating the ways in which income and wealth are distributed in the economy, using measures such as an income distribution histogram,
the Lorenz curve or the Gini coefficient
The ways that governments manage the economy to improve economic performance and living standards (ACHEK052)
identifying policy options designed to improve the standard of living, such as productivity policy, training and workforce development, taxation,
work visas, migration
identifying examples of government intervention that aim to redistribute income, for example pensions, youth allowance and job search, and
goods and services such as healthcare and education
investigating how Australia supports economic growth in the Asia region through participating in the Asia-Pacific Economic Cooperation (APEC)
forum
explaining the impact of minimum wage, government payments, taxation and government-funded services on living standards
identifying examples of externalities (that is, costs or benefits associated with the production or consumption of goods and/or services that
affects the wellbeing of third parties or society more generally) and exploring the ways governments can influence or regulate these impacts to
ensure prices reflect external costs
Factors that influence major consumer and financial decisions and the short- and long-term consequences of these decisions (ACHEK053)
identifying and explaining factors that influence consumer decisions, for example price, availability and cost of finance, marketing of products,
age and gender of consumer, convenience, ethical and environmental considerations
evaluating the outcomes of buying, for example, a car, using criteria such as the effect of loan repayments on disposable income, depreciation,
maintenance and insurance costs compared with the benefits of independence, convenience and social status
The ways businesses organise themselves to improve productivity, including the ways they manage their workforce, and how they respond to changing
economic conditions (ACHEK054)
describing ways in which businesses can improve productivity, for example training, capital investment, investment in applications of
technology, use of just-in-time inventory systems
exploring examples of ways businesses structure their working environment to provide flexible, efficient approaches
exploring the use of technology and the extent to which it has driven and allowed innovative responses by business
exploring the reasons for triple bottom line business planning and the possible implications for employees, competitors and the broader
economy
identifying ethical and unethical workplace practices and investigating the impact of these practices on individuals
investigating ways that businesses have responded to improving economic conditions, for example increasing their research and development
funding to create innovative products, adjusting marketing strategies to expand their market share, up-skilling their workforce to improve
productivity
Assessment
Unit
for
this
10%
Semester 2 Project Hypothetical Business Plan including oral presentation, marketing plan, ethical guidelines
Monday
No class
Tuesday
Double (lunch time class)
Go over Civics exam and
discuss areas where
many people struggled.
Wednesday
Single
-Opening discussion: what
factors help people satisfy
their wants and needs?
Thursday
-Assessing Australias
economy
Simulation Game: the
paper trade (technologies
Friday
No class
Week 2
Week 3
-Considering Australias
economy and its
relationship with America,
China, UK and New
Zealand. Worksheet
measuring economic
growth
Measuring Economic
Growth using GDP
What is GDP, what does it
measure?
What are its limitations
when measuring an
economy by its GDP?
No class
Identifying indicators of
economic performance
such as unemployment
trends.
Finish worksheet on
Measuring Economic
Growth
Identifying indicators of
economic performance
such as sustainability
indexes worksheet on
sustainability
and resources)
Have 5 countries set up
around the class that the
students need to sit at.
Each country has a pack
of supplies that is either
high on technologies or
resource. In their
country/team they are
required to create
perfectly proportioned
shapes that are worth
different amounts. They
may trade
tools/technologies (rulers,
scissors) or resources
(paper) with other
countries. They bank
their shapes with the
teacher.
Students research
unemployment rates
from Australia and three
other countries.
Finish worksheet on
Employment trends
Sustainability triple
bottom line people,
product, planet
Students look at the
sustainable practices of
Inflation rates.
Defining Inflation
Positives and Negatives
of Inflation
Begin worksheet of
Inflation
Text book reference:
Jacaranda Eco and Bus
1.3
No class
Week 4
Students continue
worksheet on what are
living standards
They should aim to get 2
questions done per class
Students complete at
least another 2
questions from their
what are living
standards worksheet
No class
No class
Students continue to
work through living
standards worksheet.
Week 6
Students continue
researching their 7
countries. Make sure
students are comparing
Students finish
worksheet about
international trade and
living standards and
catch up on any
outstanding work.
Characteristics of an
enterprising person
video
-Students note down at
least 5 points that stand
out to them regarding
traits of entrepreneurs
No class
Week 8
Influences on a
consumer:
Psychological,
sociocultural, economic
and government factors
that impact on a
consumers decision to
purchase a product
Case studies:
-Fast Flowers
-Peter Alexander
-Boost Juice
In groups of 3 students
read one of the case
studies each and report
back to their groups about
the process the
entrepreneur went
through
Target Markets.
Identifying the way
businesses can use
stereotypes to target their
advertising to a particular
group of people.
Discuss stereotypes and
demographics as a class,
students create a bubble
diagram to determine the
demographic that they fit
into.
Week 9
No class
Beginning enquiry
project
Students have explored
several enterprises that
Week 7
Students continue
creating a mind map and
narrowing down their
ideas into a clearer
Week 10
Term 4
Week 1
Monday
No class
business.
Give examples on the
board of how to do a mind
map. Get students to help
come up with ideas to
refine the business.
Tuesday
Making visual aids to help
with their sales pitches
(which will be held in the
next two classes) they
Wednesday
Presentations
4-7minutes per person.
Students are required to
present
their
business
Thursday
Presentations continued
4-7minutes per person.
Students are required to
present their business
Friday
No class
Week 2
Week 3
No class
management plan/
operations plan
Discuss the different ways
a business could be
structured and show
examples of management
structure flowcharts.
Students begin their
flowchart to show the
structure and
management of their
business
Marketing your
product/service
Define marketing as
making your business
known and making your
business appealing.
Case studies of the ways
different companies
market their
products/services to their
target market. Explore
the use of old and new
technologies from
billboards,
newspaper/magazine
advertisements and radio
to giveaways, handouts,
catalogues and flyers to
TV and social media.
Students think of the best
places to reach their
target market. What
Marketing
Students begin writing a
marketing plan, they
include the types of
marketing they would use
for their business, how
much they would spend
on advertising/marketing
and how much business
they expect to get
because of that
marketing.
Students choose one or
two of their marketing
strategies to explain in
detail this may include
designing what their
website would look like
and how it would work,
the script for a radio or TV
add, a billboard/sign
design with details about
Marketing
Students continue
explaining their chosen
marketing strategy.
If they are only planning
one that it quick and easy
(such as a script for a
radio add) then they
need to do another one.
They may do this task in
a creative way.
Students need to finish
this in their own time but
may take two weeks
Marketing Plans
-marketing analysis
-customers
-competitors
-target market
Students explain the
way their business will
best market to their
customers and that will
set their business apart.
They begin typing out
this information using
the template as a guide.
No class
Week 4
Productive Business
Management
Worksheet on ways in
which businesses can
improve productivity, for
example training, capital
investment, investment in
applications of technology,
use of just-in-time
inventory systems
Students answer questions
on worksheet
Productive Business
Management
Students finish worksheet
on strategies for
productive workplaces.
Business Structure
Students look at examples
of ways businesses
structure their working
environment to provide
flexible, efficient
approaches.
Week 5
No class
Ethics in Business
What are Ethics
Students write a definition
of ethics in their own
words.
Discuss why are ethics
important to consider?
View examples of ethical
and unethical business
practices.
Students begin to research
more practices that are
Business Structure
Watch video about
businesses and the way
they have structured
their staff, work practices
and environment to
improve overall
productivity and a more
successful business.
Students begin planning
the structure of their
business, considering
their management
structure, use of space
and resources and overall
environment for staff and
clients.
Their workplace
environment.
Students finish writing
up their plan for
productivity and the
structure of their
business.
Ethics in Business
Students continue to list
ethical and unethical
practices in their
workbooks. They need to
have at least 15
examples in each
column.
No class
Week 6
Week 7
No class
improve in sustainability?
Students highlight at
least two areas of their
business plan that are
sustainable practices
(they may need to add
these in/make changes)
Reminder their marketing
plans and examples are
due on Thursady
In pairs, students explain
the experience their
partner would have as
their customer. They
receive feedback about
what their partner liked
and didnt like about their
experience and note
these things down
Students continue
recording the expenses
and profit of their
business in their
templates.
When finished students
can begin compiling and
presenting all of their
business plan
documentation in one
document.
No class
Week 8
Exam revision
-economics and measuring
economic growth
Week 9
Week 10
Exams?
Exam revision
-how to write up a case
study
Exam revision
-Business structure
-Sustainability and ethics
in business
Exam revision
-Target markets and
marketing strategies