AC9HE9K01 Year 9 Humanities and Social Sciences

AC9HE9K01 – Year 9 Humanities and Social Sciences: Economics and Business

Strand

Knowledge and understanding

Substrand

Economics and Business

This Content Descriptor from Year 9 Humanities and Social Sciences provides the specific knowledge and skills students should learn. Use it to plan lessons, create learning sequences, and design assessments that align with the Australian Curriculum v9.

Content Descriptor

the role of Australia’s financial sector and its effect on economic decision-making by individuals, businesses and global markets

Elaborations

• identifying different organisations within Australia’s financial sector, such as banks, credit unions or building societies, and explaining their functions; for example, collecting deposits, pooling savings, and lending funds to individuals and businesses
• explaining the nature of investment or the financial products and services that enable people to receive income in the future; for example, shares, earning interest on term deposits, managed funds or superannuation
• explaining the difference between good and bad debt, how to manage debt, the risks of over-indebtedness and the importance of having a savings buffer
• explaining the forces that shape and affect Australia’s financial landscape, such as financial deregulations, technological changes, economic and business activities, and consumer and business sentiment about the future
• identifying examples and explaining how Australia’s financial sector supports businesses in global markets; for example, the nature of global financial services, payment systems – clearing and settlement, access to currencies, insurance and capital

Achievement Standard This Supports

This Content Descriptor contributes to the following Achievement Standard:

Year 9 ASHASECOY9

Year 9 Humanities and Social Sciences Achievement Standard

By the end of Year 9, students explain the role of Australia’s financial sector and its effect on economic decision-making by individuals and businesses. They explain the interdependence of participants in the global market and the effect on economic decision-making. They explain the reasons for trade and Australia’s pattern of trade with Asia. They explain why businesses seek to create and maintain a competitive advantage. Students explain how individuals and businesses manage consumer and financial risks and rewards. Students develop and modify questions to investigate an economic and business issue. They locate, select and analyse information and data from a range of sources. They interpret and analyse information and data to explain economic trends and cause-and-effect relationships, and identify consumer and financial impacts. They develop a response to an economic and business issue, taking account of economic, business or financial factors. They evaluate a response using criteria and make decisions about how it is to be implemented. Students use economic and business knowledge, concepts and terms to develop descriptions, explanations and arguments that acknowledge research findings.