Quick summary: This lesson is designed to get students to use the Happy Planet Index to explore ways of measuring a nation’s progress (other than GDP) where human well being and ecological sustainability are taken into account.
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 build their critical thinking and questioning skills.
- Students interpret data and information displayed in different formats to identify relationships and trends.
- Students develop an understanding of the ways national progress can be measured, going beyond the traditional use of gross domestic product (GDP).
- Students investigate economic performance and living standards and discuss how they can mean different things to different people and countries.
Cross-curriculum Priority: Sustainability 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)
- The ways that governments manage the economy to improve economic performance and living standards (ACHEK052)
Syllabus Outcomes: C5.2, C5.3, C5.4.
Unit of lessons: Bendigo Bank Real Wealth
Time required: 60 mins, plus 25 mins homework prior to the lesson.
Level of teacher scaffolding: Medium – teacher should do background reading and view video prior to lesson.
Resources required: Student worksheet – one paper copy per student OR access to computer/tablet with internet access, internet access for each student for video viewing, headphones for each student if viewing video in class. Real Wealth Cheat Sheet, Glossary – Secondary.
Digital technology opportunities: Digital sharing capabilities.
Homework and extension opportunities: Includes opportunities for homework and extension.
Keywords: Gross Domestic Product (GDP), welfare, well being, ecological footprint, Bendigo Bank.
Cool Australia’s curriculum team continually reviews and refines our resources to be in line with changes to the Australian Curriculum.