Playing the long game
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Introduction
In this activity students learn that superannuation is money put aside for their retirement and begin to understand that being informed can make a difference to their long-term financial wellbeing.
Achievement standard
By the end of Year 10, students explain why and how governments manage economic performance to improve living standards. They give 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 respond to changing economic conditions and improve productivity. Students evaluate the effect of organisational and 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, 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.
Content descriptions
Economics and Business Knowledge and Understanding
Factors that influence major consumer and financial decisions and the short- and long-term consequences of these decisions (ACHEK053).
Economics and Business Skills
Analyse data and information in different formats to explain cause-and-effect relationships, make predictions and illustrate alternative perspectives (ACHES057).
Apply economics and business knowledge, skills and concepts in familiar, new and hypothetical situations (ACHES059).
Present reasoned arguments and evidence-based conclusions in a range of appropriate formats using economics and business conventions, language and concepts (ACHES060).
Teacher resources
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Why can't we rely on the age-pension?
Writing paragraphs in Economics
Student learning resources
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How much super will I need?
Playing the long game
Writing paragraphs in Economics
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. If you assign this activity to a class, your students will be assigned all student resources on their 'My learning' page. You can also hand-pick the resources students are assigned by selecting individual resources when you add a work item to a class in 'My classes'.
- Invite students to imagine their lives backwards.
You are 60 years old and want to retire. What sort of retirement do you want?
- Students read the explainer or read it as a class.
- Select students to share some of their ideas and key pieces of information. Discuss.
- Students complete the worksheet.
- Use a grouping strategy to organise students into groups of 4.
- Display the statistics on the visualiser.
- Groups discuss the impact of these statistics on the future of age pensions.
- Explicitly teach how paragraphs are structured using the Writing paragraphs in Economics – Visualiser or invite students to read Writing paragraphs in Economics – Model.
- Redisplay the statistics on the visualiser.
- Students write an evidence-based paragraph explaining why their generation cannot rely on the age pension.