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.
Achievement standard
By the end of Year 10, students analyse how economic indicators influence Australian Government decision-making. They explain ways that government intervenes to improve economic performance and living standards. They explain processes that businesses use to manage the workforce and improve productivity. They explain the importance of Australia’s superannuation system and its effect on consumer and financial decision-making. Students analyse factors that influence major consumer and financial decisions, and explain the short- and long-term effects of these decisions.
Students develop and modify a range of questions to investigate an economic and business issue. They locate, select and analyse relevant and reliable information and data from a range of sources. They interpret and analyse information and data to evaluate trends and economic cause-and-effect relationships, and make predictions about consumer and financial impacts. They develop an evidence-based response to an economic and business issue. They evaluate a response, using appropriate criteria to decide on a course of action. Students use economic and business knowledge, concepts, and terms to develop descriptions, explanations and reasoned arguments that synthesise research findings.
Content descriptions
Economics and Business Knowledge and Understanding
The ways that government intervenes in the economy to improve economic performance and living standards within Australian society. (AC9HE10K02)
Economics and Business Skills
Interpret information and data, explaining economic and business issues, trends and economic cause-and-effect relationships, and make predictions about consumer and financial impacts. (AC9HE10S03)
Develop and evaluate a response to an economic and business issue, using cost-benefit analysis or criteria to decide on a course of action. (AC9HE10S04)
Create descriptions, explanations and arguments, using economic and business knowledge, concepts and terms that incorporate and acknowledge and research findings. (AC9HE10S05)
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.
- 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.