Government intervention in the economy
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Introduction
In this activity, students learn why and how governments intervene in the economy. They consolidate their understanding by researching and developing questions for a board game. Students then play the game.
Achievement standard
By the end of Year 8, students explain how markets operate and recognise why governments may influence the market’s operation. They explain the rights and responsibilities of consumers and businesses in terms of financial and economic decision-making. They explain why different types of businesses exist and describe the different ways businesses can respond to opportunities in the market. Students describe influences on the way people work and factors that may affect work in the future.
When researching, students develop questions and gather relevant data and information from different sources to investigate an economic or business issue. They interpret data to identify trends and relationships. They propose a range of alternative responses to an issue and evaluate the costs and benefits of each alternative. They apply economics and business knowledge, skills and concepts to familiar and unfamiliar problems. Students develop and present evidence-based conclusions using appropriate texts, subject-specific language and concepts. They identify the effects of an economic or business decision and the potential consequences of alternative actions.
Content descriptions
Economics and Business Knowledge and Understanding
The ways markets in Australia operate to enable the distribution of resources, and why they may be influenced by government (ACHEK027).
Economics and Business Skills
Gather relevant data and information from a range of digital, online and print sources (ACHES033).
Apply economics and business knowledge, skills and concepts in familiar and new situations (ACHES036).
Teacher resources
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Government intervention in the economy
Snakes and ladders - Game board
Student learning resources
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Government intervention in the economy
Snakes and ladders
Snakes and ladders - Questions
Suggested activity sequence
This sequence is intended as a framework to be modified and adapted by teachers to suit the needs of a class group.
- Use the visualiser to explain how the government intervenes in the economy (slides 2 and 3). As you are explaining the information, invite students to provide further examples.
- Use a grouping strategy to organise students into groups of 4.
- Groups brainstorm examples of the following categories of goods/services and benefits and record their answers on the recording sheet.
- Good or service provided by governments.
- Good or service with social benefits that are provided by private enterprise.
- Good or service with social costs.
- Cash benefit provided by the Australian Government to individuals and families.
- Invite groups to share the results of their brainstorm with the class. As groups listen to the responses of other groups, they add examples to their recording sheet.
- Read the student instructions as a class.
- Students research and develop their questions and record their questions and answers on the questions template.
- Give each group:
- Snakes and ladders – Game board
- 4 playing pieces
- 1 dice.
- Students play snakes and ladders.
- When students have finished playing the game, discuss the role of Australia’s taxation system as a mechanism for intervening in the economy. Display and discuss the final slide on the visualiser following the discussion.