Quick summary: Students explore the concepts of wealth and compare a range of definitions. Students then investigate the concept of real wealth and consider how businesses and the ways that people work might have to change to support more people having more real wealth. Finally, students develop their own definition of real wealth.
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 understand the concepts of wealth and real wealth.
- Students recognise that some of our current workplace and business practices would need to change in order to support more people having more real wealth.
- Students consider the costs and benefits of changing workplace and business practices in the pursuit of more real wealth.
General capabilities: Critical and creative thinking, Literacy.
Cross-curriculum priority: Sustainability OI.6., OI.8.
Australian Curriculum content description:
Year 7 Economics and Business
- Why individuals work, types of work and how people derive an income (ACHEK020)
- Present evidence-based conclusions using economics and business language and concepts in a range of appropriate formats, and reflect on the consequences of alternative actions (ACHES026)
Year 8 Economics and Business
- Influences on the ways people work and factors that might affect work in the future (ACHEK031)
- Present evidence-based conclusions using economics and business language and concepts in a range of appropriate formats, and reflect on the consequences of alternative actions (ACHES037)
Syllabus Outcomes: C4.2, C4.3, C4.4, C4.1, C4.8.
Unit of lessons: Real Wealth Year 7 & 8
Time required: 60 mins.
Level of teacher scaffolding: Medium – lead students in class-wide activities and discussion.
Resources required: Student Worksheet – one copy per student OR computers/tablets to access the online worksheet. Device capable of presenting a website to the class. Sticky notes (one for each student), pens, board for sticking notes on. Real Wealth Cheat Sheet, Glossary Secondary.
Digital technology opportunities: Digital sharing capabilities.
Homework and extension opportunities: Includes opportunities for extension.
Keywords: wealth, real wealth, definitions, work, business, community.
Cool Australia’s curriculum team continually reviews and refines our resources to be in line with changes to the Australian Curriculum.