Quick summary: Students are introduced to the OECD’s Better Life Index as an alternative measure of development and progress (besides GDP). Students are asked to analyse and reflect upon the information on the Better Life Index and to compare Australia to another countries and create an infographic to share this information. Finally students are asked to reflect on whether the Better Life Index is a more accurate measure of a country’s level of progress than GDP.
Bendigo Bank is passionate about connecting with and enriching communities across Australia. Cool Australia and Bendigo Bank share the common goal of bringing communities together through educational programs that help to build sustainable communities for the future. This lesson supports students to inquire into the big idea of ‘real wealth’. Students develop an understanding of shared values, and build their sustainable and ethical financial knowledge, equipping them with the skills to make sound financial decisions based on social, environmental and economical merit.
- Students are introduced to the OECD Better Life Index as an alternative to GDP as an indicator of a country’s progress.
- Students practice evaluating a process from a range of perspectives using De Bonos Thinking Hats.
Cross-curriculum priority: Sustainability OI.4, OI.5, OI.6, OI.8..
Australian Curriculum content description:
Year 10 Economics and Business
- Indicators of economic performance and how Australia’s economy is performing (ACHEK050)
- The links between economic performance and living standards, the variations that exist within and between economies, and the possible causes (ACHEK051)
Syllabus Outcomes: C5.2, C5.3, C5.4.
Unit of lessons: Bendigo Bank Real Wealth
Time required: 2 x 60 mins.
Level of teacher scaffolding: Low – oversee activities and facilitate discussion.
Resources required: Student Worksheet – one copy per student OR computers/tablets to access the online worksheet, internet access for students to access a range of websites, online infographic creating software and a video, headphones for each student if viewing video in class. Better Life Index Factsheet, Real Wealth Cheat Sheet, Glossary – Secondary.
Digital technology opportunities: Digital sharing capabilities.
Homework and extension opportunities: Includes opportunities for extension.
Keywords: Better Life Index, work-life balance, GDP, OECD, Bendigo Bank.
Cool Australia’s curriculum team continually reviews and refines our resources to be in line with changes to the Australian Curriculum.