You make the decision
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Introduction
In this activity, students take on the role of the Treasurer and make decisions on how to spend taxpayers’ money. Through engaging in the interactive, they learn how different organisations and groups lobby the government for funding. They also learn that government funds are limited and, in order to keep the federal Budget balanced, additional spending will mean either an increase in taxes or a reduction in spending elsewhere. Students reconsider their decision using the PACED decision-making strategy.
This activity contributes to the following outcomes.
A student:
- applies consumer, financial, economic, business, legal, political and employment concepts and terminology in a variety of contexts COM5-1
- analyses key factors affecting decisions COM5-4
- evaluates options for solving problems and issues COM5-5
- develops and implements plans designed to achieve goals COM5-6
- works independently and collaboratively to meet individual and collective goals within specified timeframes COM5-9.
Related Stage 4 outcomes: COM4-1, COM4-2, COM4-3, COM4-4, COM4-5, COM4-6,COM4-9
Related Life Skills outcomes: COMLS-5, COMLS-7, COMLS-13
Content descriptions
Core 1: Consumer and Financial Decisions
Financial management
Students:
- investigate tools and strategies for effective financial management, including:
- budgets, e.g. using digital technologies to develop a financial plan.
Core 4: Law, Society and Political Involvement
Law reform, political action and decision-making
Students:
- research methods an individual or group has taken to influence politicians and evaluate their effectiveness, for example individual action, actions of lobby groups and political parties and the use of the media (ACHCK062, ACHCK076).
Option 7: Towards Independence
Managing finances
Students:
- explain the responsible management of finances when living independently, including: (ACHEK018)
- strategies to minimise financial problems, e.g. budgeting, saving, monitoring spending, superannuation
Teacher resources
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Decision-making strategy
Student learning resources
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You make the decision
You make the decision
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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. The activity was written for students in Stage 5, however it can be modified to suit the needs of Stage 4 students and Life skills students.
- Explain to students that they will work in pairs to engage in an interactive in which they will collaboratively play the role of the federal Treasurer.
- Use a grouping strategy to organise students into pairs.
- Pairs of students follow the interactive instructions to play the You make the decision interactive.
- Pairs answer questions 1-5 of the interactive instructions.
- Display and explain the information on the visualiser. The visualiser provides a step-by-step guide to using the PACED grid as a tool for decision-making. Explain each step as you display the visualiser.
- Pairs complete questions 6 and 7 of the interactive instructions.
- Discuss:
- the decisions students made and whether their decision changed as a result of using a decision-making strategy
- the value of using a strategy for making decisions.
- Students write a statement explaining:
- why trade-offs (compensatory actions) are necessary in order to keep a balanced budget and
- the benefits of a balanced or surplus budget