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

EEO410 - By April Gu & Laura Sidea

Week 1:
Session 1:
Learning intention: Introducing
Economics
Activity: Students create concept maps
with words related to economics.
Teacher Resource:
http://www.brighthubeducation.com/lesson-
plans-grades-3-5/43204-intro-to-
economics-and-economic-way-of-
thinking/#imgn_0
Vic Curriculum: VCEBR001
Session 2:
Learning Intention: Introducing Money
Activity: Students perform a role-play of a
purchase being made using money.
Teacher resource:
https://www.youtube.com/watch?v=AjTwcQ
YgISA Econ Vids for Kids: What is
Money? video
Vic Curriculum: VCEBC004
Week 6:
Session 1:
Learning intention: What is Scarcity?
Supply & Demand explained
Activity: Students learn the nature of
supply and demand through a simulation
game in which limited resources put
students to the test. Who will be the last
man standing?
Teacher Resource:
http://wheeldecide.com/ to select numbers
of resources, Johnson, P & Hunter, L
Consumer Stuff p.54
Skeleton Island
Vic Curriculum: VCEBR001
Session 2:
Learning Intention: Entrepreneurship
Activity: Students create a comic to
illustrate ways of becoming an
entrepreneur.
Teacher & student resources:
https://www.pixton.com/schools/teacher-
resources/lesson-
plans/entrepreneurship#activity-be-an-
entrepreneur
Vic Curriculum: VCEBN009
Week 2:
Session 1:
Learning intention: Identifying
differences between needs and
wants
Activity: Putting yourself into
others shoes. What would these
people need or want?
Student Resource:
Johnson, P & Hunter, L
Consumer Stuff p.4
Vic Curriculum: VCEBR001
Session 2:
Learning Intention: Prioritising
needs and wants
Activity: Students work out a
task on what they would
prioritise in order to survive.
Teacher resource:
https://au.pinterest.com/pin/4241
82858624384288/
Student Resource:
https://www.tigweb.org/images/ti
ged/docs/activities/267.pdf
Vic Curriculum: VCEBR002
Week 7:
Session 1:
Learning intention: Australias
engagement with Asia
Activity: Students engage in
scavenger hunt. How many of
our material goods come from
Asia that we rely on?
Teacher resource:
http://www.apec.org/Groups/Oth
er-Groups/Sustainable-
Development
Victorian Curriculum:
VCEBR020
Session 2:
Learning Intention: Scarcity in
regards to Sustainability
Activity: Students experience
another simulated example of
scarcity through the use of
popcorn.
Teacher resource:
http://ecedweb.unomaha.edu/les
sons/popcorn.htm
Vic Curriculum: VCEBR003,
VCEBR001
Week 3:
Session 1:
Learning intention: Introducing
Budgeting
Activity: Students play a budgeting
game to see how they budget their
money.
Student Resource:
Johnson, P & Hunter, L
Consumer Stuff between p. 49 and
50. Opportunity Cost
Vic Curriculum: VCEBC004
Session 2:
Learning Intention: Budgeting in
relation to needs and wants
Activity: Students must budget for
their trip to the carnival, where they
are expected to plan for food, and
other wants like show bags.
Vic Curriculum: VCEBC004
Week 8:
Session 1:
Learning intention: Advertising
Activity: Students create a poster
advertisement .
Teacher Resource:
https://www.moneysmart.gov.au/life-
events-and-you/life-events/getting-a-
pet/the-cost-of-a-pet
Student resource:
Poster making with Phoster
https://itunes.apple.com/app/phoster/i
d396306670?6w2MZjx1tIA
Vic Curriculum: VCEBC004
Session 2:
Learning Intention: Supply &
demand
Activity: Students have a simulation
game relating to supply and demand.
Teacher resource:
Modified version:
ttps://www.teacherspayteachers.com/
Product/Supply-and-Demand-Fun-
Interactive-Stations-1151934
Vic Curriculum: VCEBE010
Week 4:
Session 1:
Learning intention: Budgeting
relating to saving.
Activity: Students will be putting their
budgeting knowledge into practice at
the supermarket by making a list of
important items against a limited
budget.
Student Resource: Excursion to local
shops.
Vic Curriculum: VCEBC004
Session 2:
Learning Intention: Consumer
knowledge, supermarket giants
Activity: Students reflect in their
journal noting differences between
local businesses and supermarket
giants.
Student resource:
http://www.abc.net.au/btn/story/s2685
412.htm
Vic Curriculum: VCEBC004,
VCEBB006
Week 9:
Session 1:
Learning intention: Saving Money
Activity: Students create their own
fundraising businesses and work out
what kind of budget is required to save
funds in order to donate to the
RSPCA.
Teacher resource:
https://www.millionpawswalk.com.au/
Vic Curriculum: VCEBC004
Session 2:
Learning Intention: Preparation to be
in the wider community
Activity: Students choose a career
and answer scenarios based on the
income on their scenario cards.
Teacher resource:
https://www.teacherspayteachers.com/
Product/Middle-School-Economics-
Bundle-Budgeting-Check-Writing-
Career-Research-1528784
Vic Curriculum: VCEBW007,
VCEBC005
Week 5:
Session 1:
Learning intention: Running a small
business insight
Activity: Students discuss the
incursion experience, comparing local
businesses to supermarket giants.
Teacher Resource: Incursion local
milk bar/ convenience store owner
Vic Curriculum: VCEBB006
Session 2:
Learning Intention: Consumer
knowledge Advertisements
Activity: Students create a pic-
collage advertisement to sell a
product which will be presented to the
community.
Teacher resource:
http://www.abc.net.au/tv/thecheckout/
about/packshot.htm
Student resource:
https://pic-collage.com/
Vic Curriculum: VCEBC004
Week 10:
Session 1:
Learning intention: Knowledge as
consumers
Activity: Students create diagrams
on how occupations/businesses
depend on one another.
Teacher resource:
modified
http://econ-
fun.com/pdf_Files/lesson.pdf#
Vic Curriculum: VCEBC004
Session 2:
Learning Intention: Summarising
Economics
Activity: Students play speed dating
to test their economic vocabulary.
ideas and concepts from here
https://www.teacherspayteachers.com
/Product/Economics-Quiz-3rd-4th-or-
5th-1109656
Vic Curriculum: VCEBR001,
VCEBC004, VCEBC004