Quick summary: Students investigate their needs and wants. They begin by conducting a ‘5 whys’ investigation into one personal need and want, and then participate in a class activity to classify various items, activities and services as either needs or wants. Finally students are asked to pick their top five needs and wants and rank them according to importance.
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.
We’ve taken elements of this lesson and adapted them for remote learning. You can find this activity here.
- Students understand the difference between needs and wants.
- Students understand that different people have different needs and wants.
- Students understand that they have to make choices about their needs and wants.
General capabilities: Critical and Creative Thinking, Personal and Social Capability, Ethical Understanding.
Cross-curriculum priority: Sustainability OI.8.
Australian Curriculum content description:
Year 5 Humanities and Social Sciences
- The difference between needs and wants and why choices need to be made about how limited resources are used (ACHASSK119)
Year 5 English
- Use comprehension strategies to analyse information, integrating and linking ideas from a variety of print and digital sources (ACELY1703)
Year 6 Humanities and Social Sciences
- How the concept of opportunity cost involves choices about the alternative use of resources and the need to consider trade-offs (ACHASSK149)
Year 6 English
- Use comprehension strategies to interpret and analyse information and ideas, comparing content from a variety of textual sources including media and digital texts (ACELY1713)
Syllabus Outcomes: EN3-1A.
Unit of lessons: Real Wealth Year 5 & 6
Time required: 60 mins.
Level of teacher scaffolding: High – oversee activity and lead students in class activity and discussion.
Resources required: Two different coloured sticky notes, Student Worksheet – one copy per student OR computers/tablets to access the online worksheet. Real Wealth Cheat Sheet, Glossary Years 5 & 6.
Digital technology opportunities: Digital sharing capabilities.
Homework and extension opportunities: Includes opportunities for homework or extension.
Keywords: needs, wants, choice.
Cool Australia’s curriculum team continually reviews and refines our resources to be in line with changes to the Australian Curriculum.