Learning Objects from The Le@rning FederationThe Le@rning Federation has a large catalogue of digital resources to support innovative and creative learning across the curriculum, including learning associated with consumer and financial literacy. A selection of relevant learning objects from a number of catalogues is included here for possible use with the Consumer and Financial Literacy, Professional Learning Program. Use this link to find out how to access The Le@rning Federation content http://www.tlf.edu.au/for_teachers/access_information/schools/schools_in_australia_and_nz.html Quick link to Catalogues: ASIC Learning ObjectsSafe or sorry: insuranceLearning Object: L9087. Buy a car and insure it on a budget of $12,000. Gather information before making your final choices about type of car, any modifications, car insurance options including excess and replacement policies. Discover the consequences of your choices when an unexpected event happens.
Test your knowledge of car insurance, and of the things to be aware of when choosing car insurance for yourself. Relationship to the National Consumer and Financial Literacy Framework Year 9-10 | | | Description of learning | Students manage and reduce the risks of owning a car.
Students consider their options before making decisions about car insurance in a real life scenario.
Students make choices that enable them to keep within their budget.
Students mitigate negative future events by planning ahead and by making informed decisions. | | Dimension: Knowledge and understanding | Studies of Society and Environment - Resources | Year 11-12 | | | Description of learning | Students manage and reduce the risks of owning a car.
Students consider their options before making decisions about car insurance in a real life scenario.
Students make choices that enable them to keep within their budget.
Students mitigate negative future events by planning ahead and by making informed decisions. | | Dimension: Knowledge and understanding | Studies of Society and Environment - Resources, Natural and social systems. | | | Go to top |
Plan for the party: superannuationLearning Object: L9088. Life contains both opportunity and risk, know your superannuation investment choices and plan for the future to make the best decisions. This interactive learning object provides the opportunity for the learner to be introduced to important concepts and choices about superannuation, though demonstration and narration. Relationship to the National Consumer and Financial Literacy Framework Year 9-10 | | | Description of learning | Long-term investment through super is an effective way of saving for the future.
Long-term Investment in growth options can be like a roller-coaster ride, with losses and gains averaging out over time.
Start investing early in life.
Invest in growth options to keep pace with the rising cost of living. | | Dimension: Knowledge and understanding | Social Sciences (Studies of Society and Environment, Civics and Citizenship, Enterprise/Economics/Business/Commerce), Mathematics and English. | Year 11-12 | | | Description of learning | Long term investment through super is an effective way of saving for the future.
Long term Investment in growth options can be like a roller coaster ride, with losses and gains averaging out over time.
Start investing early in life.
Invest in growth options to keep pace with the rising cost of living. | | Dimension: Knowledge and understanding | Accounting, Business/Commerce Studies, Life Skills and General Mathematics, Economics. | | | Go to top |
Civics and Citizenship catalogue: Island life seriesLearning Objects: L1008, L1034 and L1035.
The Civics and Citizenship Catalogue (Studies of Australia section) includes three learning objects in the Island life series. Essentially this series assists students to develop their appreciation of the difference between needs and wants. As the title suggests, students are placed in the position of making decisions about what items they might choose to assist their life on an island. The decision making tasks are aligned to levels of schooling P - 2, 3 - 4 and 5 - 6 and are, therefore, progressively more sophisticated over the three learning objects.
Relationship to the National Consumer and Financial Literacy Framework Year 3 | | | Description of learning | They (the students) explain why they want some basic goods and service. | | Dimension: Knowledge and understanding | Students understand the difference between needs and wants. For example, people need food, clothing and shelter to survive. | Year 5 | | | Description of learning | Students understand broad issues of quality of life…
Students are aware of the social and environmental consequences of their choices. | | Dimension: Responsibility | Students care about the impact of their consumer and financial decisions on themselves, others, community and the environment. For example, identify how responsible attitudes to issues such as recycling and water conservation can benefit the family, the community and the environment. | Year 7 | | | Description of learning | Students understand the need to plan for the future | | Dimension: Knowledge and understanding | Students understand that a range of factors affect choice. For example, individual versus community needs. | | Dimension: Competence | Students justify selection of a range of goods and services. For example, presenting the case for essential over leisure services. | | Dimension: Responsibility | Students develop ethical behaviours (awareness of needs and wants of other groups; environmentally friendly goods/services). For example, choosing on the basis of environmentally friendly goods and services. | | | Go to top |
Environmental education for sustainability catalogue: Community enterprise seriesLearning Objects: L1026, L1025 and L1002.
The Environmental Education for Sustainability Catalogue includes three learning objects that challenge students to make recommendations to the local mayor about future local enterprises. The process of arriving at the recommendations includes research which informs comparison of the environmental, social and economic consequences of developing new enterprises in a small community. The work, which is graduated through the three learning objects to suit Years 3 - 4, 5 - 6 and 7 - 8, involves gathering information regarding costs, environmental impacts and employment benefits of the different enterprises. There are creative opportunities in these objectives for literacy and numeracy skills development.
Relationship to the National Consumer and Financial Literacy Framework Year 3 | | | Description of learning | Students explain the reasons why they want some basic goods and services. | | Dimension: Enterprise | Students creatively explore options to earn money or other rewards. For example, consideration of the economic opportunities associated with different uses of resources. | | Dimension: Responsibility | Students identify simple ways their decisions may impact on themselves, others, the community and the environment. For example, consideration/ contrasting options for resource use in terms of community benefit. | Year 5 | | | Description of learning | Students understand broad issues of quality of life. They are aware of the social and environmental consequences of their choices. | | Dimension: Enterprise | Students use initiative and explore opportunities that can or may contribute to income. For example, gather information about the employment benefits to the community of potential businesses. | | Dimension: Responsibility | Students care about the impact of their consumer and financial decisions on themselves, others, community and the environment. For example, recommending use of local land or buildings. | Year 7 | | | Description of learning | Students understand the need to plan for the future. | | Dimension: Knowledge and understanding | Students understand that a range of factors affect choice. For example, available funds, community preferences, potential economic benefit.
Students understand that governments provide goods and services to meet consumers' and taxpayers' needs and wants. For example, provision of essential and even non-essential community assets and services. | | Dimension: Responsibility | Students develop ethical behaviours. For example: awareness of the needs and wants of others; environmentally friendly goods and services; responsible ways of spending and saving money. | Year 9 | | | Description of learning | Students use basic financial information to assess risk and returns in a local context. They apply critical literacy and numeracy skills to consider different forms of investments, and the advantages and disadvantages of business ventures. | | Dimension: Competence | Students use critical thinking and problem solving skills to make informed consumer and financial decisions. For example, effectively analyse the results of research to reach a recommendation on resource use. | | Dimension: Enterprise | Students make business related decisions. For example, compare the consequences of developing new enterprises.
Students recognise opportunities to generate income and wealth and the risk management of those opportunities. For example, compare the opportunities and the risk associated with resource use options. | | Dimension: Responsibility | Students develop ethical behaviours. For example: awareness of the needs and wants of others; environmentally friendly goods and services; responsible ways of spending and saving money. | | | Go to top |
Environmental education for sustainability catalogue: Point of origin seriesLearning Objects: L2675, L2676, L2677, L2678, L2679, L2680 and L2681.
The Environmental Education for Sustainability Catalogue includes seven learning objects in the Point of origin series which is comprised of three sub series. The learning associated with the objects is aimed at lower to middle secondary school.
In the learning objects from the budget sub series students are presented with a challenge to assemble the cheapest mountain bike, outfit or food hamper they can selecting components from countries around the world. The focus is on comparative costs and in doing so there are good opportunities for exploration of reasons why there are differences in costs for the same product from different parts of the world. Students are required to develop the product to budget and make choices accordingly. They summarise the origin and cost of the various components of the final product and are introduced to mark ups in price as a product moves to retail.
In the learning objects from the quality mountain bike sub series, students follow a similar design to those featured in the budget sub series but are prompted to select the best quality parts available for a mountain bike.
In the 'my' sub series, the learning objects follow a similar design to those of the budget series but students are free to select the components they prefer rather than the cheapest or the best.
Relationship to the National Consumer and Financial Literacy Framework Year 9 | | | Description of learning | Students are able to keep simple personal financial records. Students use basic financial information to assess risk and returns. | | Dimension: Knowledge and understanding | Students understand how to keep personal financial records. For example, create a record of the financial cost of a good or service. | | Dimension: Competence | Students make sophisticated choices when comparative shopping. For example, relate cost and origin of products to quality. | | Dimension: Enterprise | Students make business related decisions. For example, consider the relation between wholesale and retail and associated price differences and mark ups. | | | Go to top |
Mathematics and numeracy catalogue: Mobile phone plan seriesLearning Objects: L762, L763, L1107, L1108, L1109, and L1110.
The Mathematics and numeracy catalogues includes six learning objects that invite students to explore the mathematical concepts of cost estimates, data analysis, cost time graphs, line graphs and tables. All this is done in relation to assisting students to effectively manage the cost of their mobile phones.
The learning objects become progressively more difficult as the number of options and alternatives in the plans increase. Through the objects students analyse costs associated with different mobile phone plans and make predictions and comparisons, including costs comparison, between different plans.
The objects are suited to lower to middle secondary school learning and relate well to Module 3 in the Consumer and Financial Literacy, Professional Learning Program.
Relationship to the National Consumer and Financial Literacy Framework Year 7 | | | Description of learning | Students understand the need to plan for the future and have a more detailed understanding of the use of income. They apply critical literacy and numeracy skills to a wide range of commercial advertising and consumer situations, and analyse the potential effects of these on personal finances. | | Dimension: Knowledge and understanding | Students understand that a range of factors affect choice. For example, cost, income, purpose. | | Dimension: Competence | Students justify selection of a range of goods and services. For example, use comparative costs.
Students develop simple budgets and financial records. For example, relate personal budget to potential costs. | | Dimension: Responsibility | Students evaluate the relationship between spending wisely and using credit responsibly. For example, estimate capacity to meet expenses from known income sources.
Students demonstrate informed and assertive buying behaviours. For example, research best buy options in the context of a budget and obtain the best deal that can be afforded. | Year 9 | | | Description of learning | Students are able to keep simple personal financial records and establish short- and long- term financial goals. They make appropriate choices in relation to the variety of financial services. | | Dimension: Competence | Students use critical thinking and problem solving skills to make informed consumer and financial decisions. For example, consider options to address personal financial difficulties.
Students make sophisticated choices when comparative shopping. For example, have product or service knowledge across a number of factors. | | Dimension: Responsibility | Students accept responsibility and evaluate the consequences for self and others of spending decisions and using credit responsibly. For example, selecting a mobile contract and recognising impulse buying.
Students demonstrate informed and assertive buying behaviours. For example, develop buyer resistance strategies. | | | Go to top |
Mathematics and numeracy catalogue: School canteen plan seriesLearning Objects: L1927, L1931, L1928, L1932, L1929, L1933, L1930 and L1934.
The Mathematics and numeracy catalogue includes eight learning objects which require students to take responsibility for purchasing stock online for the school canteen. In doing so, students will identify best buys and alternative ways to complete the canteen order at the lowest possible cost to the school. There are problems to solve involving money and quantities as students work through four foci for the canteen - restock, best buy, two traders and estimate and check. For each of these, two levels of sophistication are offered with the first level suggested for years 5 - 9 and the second level directed more at Years 7 - 9 with the latter level being more challenging work.
Relationship to the National Consumer and Financial Literacy Framework Year 7 | | | Description of learning | Students apply critical literacy and numeracy skills to a wide range of consumer situations. | | Dimension: Competence | Students justify selection of a range of goods and services. For example, demonstrate the cost effectiveness of purchase choices. | | Dimension: Enterprise | Students take informed decisions associated with earning an income. For example, consider purchases in relation to available income and profit aims. | | Dimension: Responsibility | Students demonstrate informed and assertive buying behaviours. For example, examine the terms of sale for products and services. | Year 9 | | | Description of learning | Students use basic financial information to assess risk. They apply critical literacy and numeracy skills to consider different forms of investments, and the advantage and disadvantages of fund raising or business ventures. | | Dimensions: Competence | Students use information and communication technologies to keep appropriate financial records. For example, keep records of sales and purchases electronically.
Students use critical thinking and problem solving skills to make informed consumer and financial decisions. For example, analyse claims about the quality or effectiveness of products and services.
Students make sophisticated choices when comparative shopping. For example, use advertising material to evaluate rather than as an impulse starter. | | Dimension: Enterprise | Students make business related decisions. For example, identify the revenue generating potential of expenses.
Students recognise opportunities to generate income and wealth and the risk management of those opportunities. For example, give due consideration to the risk associated with money spent to generate income. | | Dimension: Responsibility | Students demonstrate informed and assertive buying behaviours. For example, demonstrate buying behaviour that recognises needs over wants. | | | Go to top |
Business and enterprise catalogue: Fish marketLearning Objects: L2574 and L768.
The Business and enterprise catalogue has many learning objects that reflect the descriptions of learning and develop the dimensions elaborated in the National Consumer and Financial Literacy Framework. The Fish market objects use a game play format to assist students to explore the complexities of a trading market and, at the same time, build students' skills in buying and selling and their understanding of how markets work. The design of the objects provides students with experiential learning opportunities, independent learning, problem solving and visual learning experiences. One of the objects is at a level suited to lower to middle secondary, the other would appeal to upper primary students. These objects, designed for use in Years 3 - 6 and Years 6 - 9, deal with similar concepts and ideas but at different levels of complexity.
Working in a commerce (business) setting, students deal with budgets, decision-making, markets, prices, costs, risk management, supply and demand. They are asked to analyse, synthesise, consider options and manage information. The students' goal is to find and purchase the highly prized and expensive 'Fizzer fish'. To do this, they must explore various markets, buying and selling different types of fish and gaining information on how markets work.
Relationship to the National Consumer and Financial Literacy Framework Year 7 | | | Description of learning | Students understand the need to plan for the future and have a more detailed understanding of the use of income. | | Dimension: Competence | Students justify selection of a range of goods and services. For example, examine comparative costs of alternative goods used in a business. | | Dimension: Knowledge and understanding | Students understand that a range of factors affect choice. For example, the cost of resources needed to run a business. | | Dimension: Competence | Students develop simple budgets and financial records. For example, maintain records that allow computation of final value of stock, the value of assets bought, operating costs, final cash balance. | Year 9 | | | Description of learning | Students use basic financial information to assess risk and returns. They are able to keep simple personal financial records. | | Dimension: Knowledge and understanding | Students understand how to keep personal financial records. For example, understand the consequences of poor financial management. | Dimension: Competence | Students prepare simple personal and family budgets and records. For example, use spreadsheets for recording financial transactions. | | Dimension: Enterprise | Students take initiatives to build wealth. For example, plan and operate or simulate a business.
Students make business related decisions. For example, make decisions and employ strategies related to student managed simulated or actual businesses. | | Dimension: Responsibility | Students develop ethical behaviours. For example, develop a 'fair trading' policy for a student business. | | | Go to top |
Business and enterprise catalogue: Fish tankLearning Objects: L770.
The Business and enterprise catalogue has many learning objects that reflect the descriptions and develop the dimensions elaborated in the National Consumer and Financial Literacy Framework including the Fish tank learning objects. These objects are designed to give students the experience of starting and growing a business, managing a set of resources, balancing a budget and seeing opportunities. This start up business aims to breed the maximum number of fish within a given period to sell at market. Students are given a tank with two fish and a small budget. Thereafter they have to buy the right equipment, food and plants as well as ensure a healthy and clean environment for the fish.
The business start up learning object provides an environment in which students can see opportunities, predict outcomes, manage a budget, make choices, revise past actions, respond to events and assess and deal with consequences. The growing the business object focuses on the development and sustainability of the fish business. In both learning objects, students can print out an overview of how well they managed the process: their starting budget, the final value of stock, the value of assets bought, final cash balance and the total value after two weeks of managing their business.
Both learning objects are designed for use with Years 6 - 9 students.
Relationship to the National Consumer and Financial Literacy Framework Year 7 | | | Description of learning | Students understand the need to plan for the future and have a more detailed understanding of the use of income. | | Dimension: Knowledge and understanding | Students understand the value of setting personal financial goals. For example, the profit required out of a business enterprise or activity.
Students understand the range of factors affecting choice. For example, the relationship between quality and the price. | | Dimension: Competence | Students justify selection of a range of goods and services. For example, examine comparative costs when purchasing business inputs. | | Dimension: Enterprise | Students make decisions to increase income and wealth. For example, use income and resources that involve investing in assets. | Year 9 | | | Description of learning | Students are able to distinguish between wealth and income and are aware of the different sources of income and wealth creation. They are able to keep simple financial records and establish short- and long- term financial goals. | | Dimension: knowledge and understanding | Students understand how to keep personal financial records. For example, adapt understanding of business budgets to personal budgets and understand the consequences of poor financial management. | | Dimension: Competence | Students use critical thinking and problem solving skills to make informed consumer and financial decisions. For example, consider options to address financial problems.
Students use information and communication technologies to keep appropriate financial records. For example, use spreadsheets and simple Internet tools. | | Dimension: Enterprise | Students recognise opportunities to generate income and wealth and their associated risks. For example, assess the advantages and disadvantages of financial ventures, and develop personal financial plans that show initiative and manage risk. | | | Go to top |
Business and enterprise catalogue: Fish bizLearning Objects: L5203 and L771.
The Business and enterprise catalogue has many learning objects that reflect the descriptions and develop the dimensions elaborated in the National Consumer and Financial Literacy Framework including the Fish biz learning objects. These objects, designed for use with Years 9 and 10 students, simulate key aspects of stock and financial management allowing students to appreciate the diverse range of factors involved in running a profitable business.
The business in each learning object buys fish in bulk and sells to retail shops. The students are required to order and manage stock and process customer orders. Payment of bills and managing the bank account are important elements particularly as non-payment of bills on time impacts on the business credit rating with the possible consequent closure of the business. Customer satisfaction is another important management variable.
With Fish biz cash flow (LO 5203) the task is for students to manage their business for three months and make the most profit by managing their bank balance and their stock level. Fish biz cash flow and credit (LO 771) has the added option of an overdraft which allows students to investigate the nature, limitations and cost of credit.
A summary of business outcomes is available for printing.
Relationship to the National Consumer and Financial Literacy Framework Year 9 | | | Description of learning | Students are able to distinguish between wealth and income and are aware of different sources of income and wealth creation. They are able to keep simple personal financial records and establish short- and long- term goals. They make appropriate choices in relation to the variety of financial services and are aware of the financial advice available within the community to assist decision-making.
Students use basic financial information to assess risk and returns in local contexts and apply critical literacy and numeracy skills to consider different forms of business investments, and the advantages and disadvantages of fundraising activities or business ventures. | | Dimension: Knowledge and understanding | Students understand how to keep personal financial records. For example, understand the consequences of poor financial management.
Students understand the use of credit. For example, understand that using credit will usually cost.
Students understand that income is derived from a range of sources. For example, they understand the relationship between risk and return on investment. | | Dimension: Competence | Students use critical thinking and problem-solving skills to make informed consumer and financial decisions. | | Dimension: Enterprise | Students make business related decisions. For example, decide whether to use credit. | | Dimension: Responsibility | Students develop ethical behaviours. For example, make appropriate payments for goods and services and respect the environment in their consumer and financial decisions.
Students accept responsibility and evaluate the consequences for self and others of spending decisions and using credit responsibly. For example, considering the range of outcomes of decisions to use or not use credit. | | | Go to top |
| |
