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Frequency: 10 periods per fortnight (2

doubles)

Year 10 Economics and Business


Number of students: 30

Year 10 Level Description

Key questions

In Year 10, students are expected to be taught the content


through contemporary issues, events and/or case studies.
Teachers will design programs that cover different contexts
(personal, local, national, regional, global), and meet the
needs and requirements of their students.

A framework for
developing students
economics and business
knowledge, understanding
and skills at this year level
is provided by the
following key questions:

The Year 10 curriculum gives students the opportunity to


further develop their understanding of economics and
business concepts by considering Australias economic
performance and standard of living. The ways governments
manage the economy to improve living standards is
explored, along with the reasons why economic performance
and living standards differ within and between economies.
Students explore the nature of externalities and why the
government intervenes to ensure that prices reflect the
depletion of resources or costs to society. Students examine
the consequences of decisions and the responses of
business to changing economic conditions, including the
way they manage their workforce.
The economics and business content at this year level
involves two strands: Economics and Business Knowledge
and Understanding, and Economics and Business Skills.
These strands are interrelated and should be taught in an
integrated way; they may be integrated across learning
areas and in ways that are appropriate to specific local
contexts. The order and detail in which they are taught are
programming decisions.

- 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

Year 10 Achievement Standard


By the end of Year 10, students explain why and how
governments manage economic performance to improve
living standards. They provide explanations for variations in
economic performance and standards of living within and
between economies. They analyse factors that influence major
consumer and financial decisions and explain the short- and
long-term effects of these decisions. They explain how
businesses improve productivity and respond to changing
economic conditions. Students evaluate the effect of
workforce management on business performance.
When researching, students develop questions and formulate
hypotheses to frame an investigation of an economic or
business issue or event. They gather and analyse reliable data
and information from different sources to identify trends,
explain relationships and make predictions. Students generate
alternative responses to an issue taking into account multiple
perspectives. They use cost-benefit analysis and appropriate
criteria to propose and justify a course of action. They apply
economics and business knowledge, skills and concepts to
familiar, unfamiliar and complex hypothetical problems.
Students develop and present evidence-based conclusions
and reasoned arguments incorporating different points of
view. They use appropriate texts and subject-specific
language, conventions and concepts. They analyse the
intended and unintended effects of economic and business
decisions and the potential consequences of alternative
actions.

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

investigating the performance of the Australian economy using key indicators

The links between economic performance and living standards, the variations that exist within and between economies, and the possible
causes (ACHEK051)

defining living standards and explaining its relationship to economic performance

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

See assessment sheets for


further details

Coursework variety of questions and case studies 30%


Contribution to classroom discussion and activities 5%
Semester 1 Report analysing Australias economic links to various countries and how they impact each other

10%
Semester 2 Project Hypothetical Business Plan including oral presentation, marketing plan, ethical guidelines

expenses and profit and other business documentation 30%


End of Semester Exam 25%

Scope and Sequence


Term 3
Week 1

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

Hand out unit/subject


outline, explain the
assessments and what
books they will need to
bring.

lead students towards


earning an income, family
situations, education,
background, access to
goods and services, luck
an health
-what goods and services
do you rely on every day?
How have the goods and
services people need and
want changed over the
last 30 years?
-creating a clear and
simple definition for the
word economy and
beginning worksheet on
what is an economy

Students analyse data


from a range of graphs to
understand the economic
state of the above
countries.
Use graphs in Jacaranda
Economics and Business
chapter 1.1

Identifying indicators of
economic performance
such as unemployment
trends.

Finish worksheet on
Measuring Economic
Growth

Recognising the different


categories of
un/employment and the
reasons a person may be
unemployed.
Students begin worksheet
on Employment Trends

Continuing questions and


research about Inflation
rates
Receive research
assignment outline; Why

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

are people poor


students can work on this
if they ever finish early
during a class

Week 4

Catching up on all work


and having work assessed
individual help to people
who are struggling.

Last period to catch up


on all unfinished
worksheets

IKEA, Levis and Dyson.


They list their practices
under the categories of
People, Product and
Planet.
Defining living standards
and explaining its
relationship to economic
performance
Watch video on Extreme
World students take
notes

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

Students define the key


factors
for analysing living
standards
-literacy rates
-life expectancy
-infant mortality
-doctors per 100,000
people
-cars per 1000 people
Define each including the
accuracies of analysing a
country by this standard
(for example; a country
may have less cars per
1000 people but have a
very good public
transport system)
Case studies about
Australian businesses
struggling to compete
with foreign ownership

No class

Worksheet what are


living standards
Week 5

No class

Students continue to
work through living
standards worksheet.

Last lesson for students to


work on what are living
standards
Any students who are
finished may work on
their assignment or catch
up on past work.

Week 6

Research the 5 factors for


measuring living
standards for 7 different
countries, including

Students continue
researching their 7
countries. Make sure
students are comparing

Exploring the factors that


can explain the variations
in economic performance
within or between

Students finish
worksheet about
international trade and
living standards and

Australia (choose a range


of countries developed
and developing)
Present research in a table
format and write a
paragraph analysing the
information you have
found.
No class

their data from the same


variable (ie. %, per 1000
people or amount per
year etc)

economies, for example


high levels of foreign
ownership, employment
rates, levels of debt.
Worksheet international
trade and living
standards

and oversees companies


-clothing/fashion industry
-car industry

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

Case studies continued.


Students summaries the
experience/journey of the
entrepreneur they
studied and compare it to
that of the other case
studies. They note down
similarities and
differences

No class

Week 8

The business owner and


the consumer. What
convinces a consumer to
purchase one product over
another? The impact of
advertising.
Begin worksheet on the
customer and the business
owner

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

How would a business


market effectively to
reach your demographic?
Example: Masterchief
View a segment of an
episode
Students take notes on:
-what demographics they
think would be watching
the show
-what products are
advertised during the
episode
-what products are
advertised during the add
breaks for that show?
Students type up an
explanation of their
product or service,
including how it works,

Students play the role of


the consumer and
consider the outcomes
when buying a car.
They find a car they like
and research
-car cost Vs on road
cost
(registration and
insurance)
-regular service costs
- petrol prices
-re-sale value
Students determine the
total cost of owning a
car for 5 years.
No class

Week 7

Students continue
creating a mind map and
narrowing down their
ideas into a clearer

Week 10

Students continue typing


up their product/service
idea.
Remind students to use
language that will sell
their business idea so that
someone might want to
invest in it.
Explain that next term
they will be pitching
their idea to the class and
that we will look at selling
an idea well for the rest of
the week.
Give outline for oral
presentation

Term 4
Week 1

Monday
No class

have been sparked by


one persons idea. Now
they are required to come
up with their own product
or service that can meet
a want or need they have
identified in society.
They consider who their
cliental is and what
edge their
business/product would
have over competitors.
Show example of mind
mapping and idea on the
board. They begin mindmapping their
business/service/product
Discuss the importance of
pitching and idea.
Who would they pitch it
to?
What things would that
person be interested in
knowing?
How might you present
your business? How
would you present
yourself?
What edge could you give
your business to make it
stand out

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.

how it is unique and


different from
competitors and who
their target market is.
This should be written in
a way that would
convince an investor that
their product/business is
a good (viable) idea and
worth investing in.

Students work in pairs.


They explain their
business idea to each
other and get ideas about
how they could make an
effective pitch
Students begin planning
for their pitch to the class.
They brainstorm things
that they will need to work
on during the holiday.

Watch an episode of the


Shark Tank
Students note down any
business terms that they
dont really understand.
Compile a list together of
terms/ words/processes
that students heard but
didnt fully understand.
Go over holiday
requirements.

Student free day

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

Beginning Business Plans


What is a business plan?
Why is it important?
Students read information
sheet and begin
researching more in-depth
information about their
clients and competitors to
help them write their
business plan.

Week 3

No class

may make posters, PP


presentations or create a
prototype of design of
their product
Template of a business
plan
Read overview of what is
included in a business
plan and look at the
Australian Governments
template for business
plans.
Students begin their title
page for their business
plan.

idea to the class in the


style of a sales pitch.

idea to the class in the


style of a sales pitch.

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

Students continue typing


up the plan for the
management and
structure 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

other things might your


target market be into,
what shows would they
watch, when would they
listen to the radio, what
station?

where it would be seen

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.

Students apply this


knowledge to their
business plan; what
changes could they make
to improve productivity?
Assess work as needed

Discuss how different


structures would suit
different types of
businesses. View visual
guides/diagrams of
business structures.
Students think about how
their business could be
structured

Week 5

No class

Triple bottom line


business planning and
the possible implications
for employees,
competitors and the
broader economy.
Refresh students prior
knowledge on the triple
bottom line as studied
within the economy.
Students apply this to
their business how can
their business practices

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

Students then consider


ways that their business
could possibly become
unethical. They write

They catch up on any


unfinished work.

Week 6

Students hand in their


ethics guidelines
The ongoing cycle or a
product.
Explain the cycle a
product/business goes
through from research and
development,
manufacture etc then
evaluation which leads
into new research and
development for
improvements to the
product or service.
Students recognise that it
is an ongoing cycle. They
draw a diagram for this
cycle in their workbooks.

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

both ethical and unethical.


They create lists in two
columns in their
workbooks to record the
practices they find.

Students finalise all


pieces of their business
plan (highlighted here in
green) They combine
them into one, neatly
presented document and
submit it to the student
shared drive by this
Thursday for final
assessment.

Finishing all Business Plan


work and working on
exam revision

Based on the feedback of


their peers yesterday,
students make changes to
multiple areas of their
business plan to improve
their business. This could
mean putting more
emphasis on the areas
that are particularly good
already or adjusting the
way their business is
marketed.

guidelines for their


business to ensure no
unethical practices
happen. They finish their
ethics guidelines for
homework.
Students hand in their
Marketing plans and
examples.
Managing Finances for
your business.
Students view different
templates for managing a
businesss finances. They
choose the one they
think would suit their
business the best (they
make choose to create
their own) and record the
hypothetical expenses
and profit for a one
month period.

All students must submit


their full business plans
to the student share
drive.
Individual exam revision

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?

Hand out exam revision


sheets, students may
begin exam revision
when they have finished
Exam revision
-living standards and
ways governments can
improve living standards

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

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