AC9HE9K01 Year 9 Humanities and Social Sciences

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

Elaborations

• • Elaboration 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
• • Elaboration 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
• • Elaboration 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
• • Elaboration 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
• • Elaboration 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