IRENE MCCORMACK CATHOLIC COLLEGE SOCIAL SCIENCE

YEAR 8 ECONOMICSCOURSE 1PROGRAM TERM 4 2018

OVERVIEW:

In Year 8, Humanities and Social Sciences consists of Civics and Citizenship, Economics and Business, Geography and History.

The concept of markets is introduced to further develop students understanding of the concepts ofinterdependence, making choices and allocation. They consider how markets work and the rights, responsibilities and opportunities that arise for businesses, consumers and governments. Work and work futures are explored as students consider the influences on the way people work now and consider how people will work in the future. Students focus on national and regional issues, with opportunities for the concepts to also be considered in relation tolocalcommunity, or global, issues where appropriate.

WEEK / WA CURRICULUM CONTENT DESCRIPTION / LESSON TOPICS / ASSESSMENT TASKS
1 & 2 / The way markets operate in Australia and how the interaction between buyers and sellers influences prices and how markets enable theallocation (of resources)(how businesses answer the questions of what to produce, how to produce and for whom to produce) (ACHEK027) / Review of Year 7 content: The Economic Problem, needs and wants, goods and services.
Definition of Factors of Production
Describes the difference between renewable and non-renewable resources
How businesses decide what to produce, how to produce and for whom to produce.
3 / The way markets operate in Australia and how the interaction between buyers and sellers influences prices and how markets enable theallocation (of resources)(how businesses answer the questions of what to produce, how to produce and for whom to produce) (ACHEK027) / Traditional Indigenous markets
Definition of a market and explanation of different types of markets operating in the world (retail, labour financial, stock).
45 / The way markets operate in Australia and how the interaction between buyers and sellers influences prices and how markets enable theallocation (of resources)(how businesses answer the questions of what to produce, how to produce and for whom to produce) (ACHEK027)
How thegovernmentis involved in the market, such as providing some types ofgoodsandservicesthat are not being provided for sufficiently by the market (e.g. healthcare) (ACHEK027) / Describes the Circular Flow Model and the role of each sector and how they link to each other.
Describe the interaction between Households and Firms.
Describes the role of banks in the Finance sector.
Lists the way the government can intervene in the market.
Identifies the difference between an import & export give an example of Australia’s main imports and exports.
Understand the difference between leakages and injections and how this influences economic activity. / ASSESSMENT TASK: In class explanation of Circular Flow model short answer response (notes allowed)
6 / The way markets operate in Australia and how the interaction between buyers and sellers influences prices and how markets enable theallocation (of resources)(how businesses answer the questions of what to produce, how to produce and for whom to produce) (ACHEK027) / Definition of demand and supply.
List the non-price factors affecting demand and supply.
7 / Therights and responsibilitiesof consumers and businesses in Australia (ACHEK029) / Students can identidy what Consumer Rights and responsibilities are and their purpose.
8 / Types of businesses (e.g. sole trader, partnership, corporation, cooperative, franchise) and the ways that businesses respond to opportunities in Australia (ACHEK030)
Influences on the ways people work (e.g. technologicalchange, outsourced labour in the globaleconomy, rapid communication changes and factors that might affect work in the future) (ACHEK031) / Students to define each type of business and investigate case studies of each type of business in operation in Australia.
Case studies on businesses in WA.
Students to understand how changing technology is changing the future of work.
Students to understand key skills needed for entry to workforce in the future.
9 / EXAM REVISION
SEMESTER TWO EXAMS / EXAM REVISION
SEMESTER TWO EXAMS / SEMESTER 2 EXAMINATION