What is an Ethical Business? - Year 7 & 8

Activity Introduction

Quick summary: Students are introduced to shares, the stock market and the concept of ethical investment. They will also examine the criteria used to determine whether a business is considered ‘ethical’ and investigate the ethical practices of a business listed on the Australian Ethical website.

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.

Learning goals:

To develop a basic understanding of the stock market, shares and share trading.
To consider business practices that could be considered as ‘ethical’.
To explore the concept ‘ethical investing’.

General capabilities: Critical and Creative Thinking, Personal and Social Capability, Ethical Understanding.

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)

Year 8 Economics and Business

The ways markets operate in Australia and why they may be influenced by government (ACHEK027)
The rights and responsibilities of consumers and businesses in Australia (ACHEK029)

Syllabus Outcomes: C4.2, C4.3, C4.4.

Topic: Consumption

Unit of lessons: Real Wealth Year 7 & 8

Time required: 60 mins

Level of teacher scaffolding: Medium – teachers should familiarise themselves with the information on the ASX and Australian Ethics links beforehand.

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. Stockmarket Factsheet, Ethical Investment, Real Wealth Cheat Sheet, Glossary Secondary.

Digital technology opportunities: Digital sharing capabilities.

Homework and extension opportunities: Includes opportunities for extension.

Keywords: shares, share market, stock exchange, stockbroker, ethical, investing, ethical investing.

Cool Australia’s curriculum team continually reviews and refines our resources to be in line with changes to the Australian Curriculum.

Worksheets

Teacher Worksheet

Teacher preparation

Overarching learning goal: Students are introduced to the concept of ethical investing. The lesson begins by exploring criteria used to determine whether a company could be classed as ethical, and then students investigate an ethical company and their ethical practices.

Teacher content information: When households and businesses explore investment opportunities, they will apply a range of criteria to help them choose the most appropriate options. Whilst economic return remains an important priority, investors are increasingly interested in the social and environmental impacts of their investment. In response to this trend, many businesses have altered their practices in order to attract investors from this growing market. ‘Ethical’ practices carried out by businesses include: the use and/or production of clean energy from renewable sources, obtaining raw materials and other inputs from sustainable sources, and designing products so that they last a long time and c

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Student Worksheet

Thought starter: Planet or profit?

Preparation - The Basics of the Stock Market

Watch these three videos and answer the related questions prior to coming to this lesson:

What is a Share? (https://youtu.be/r-vn49SzYPA)

What is the Sharemarket? (https://youtu.be/eiJKg1IH23k)

How to Buy and Sell Shares (https://youtu.be/v0cPbShVmEk)

Once you have watched the videos, answer the following questions:

Imagine you have to explain these videos to an eight-year-old. In 50 words or less, describe what shares are and how they are traded:

What do you think an ethical company or business might be? How would they be different to other companies or businesses?

What do you think ethical investment might be?

How to be an ethical business

Working in pairs, read through the Ethical Investment Factsheet. Select 3 out of the 10 Ethical Investment Criteria and create a mind map to describe what they involve (see example below). You can create a mind map either using your workbook

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Activity: What is an Ethical Business? – Year 7 & 8

Activity Introduction