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teaching and learning activities

Assessment tasks

Lesson 1: Introduction of the unit My Money and Diagnostic

The prior knowledge test on
prior knowledge test.
- Introduce three major areas of financial
management, namely, income, expenditure and
financial planning.
- Clearly convey the expectation at the end of the
- Conduct a pre-test comprising topics listed in the
prerequisite sections.
- Briefly explain https://www.moneysmart.gov.au/
and give the students time to investigate it.

Lesson 2: Investigate payment options and

calculate wage.

prerequisite topics allows

teachers to gauge students
understanding of financial
issues. This also enables
teachers to gauge the
students mathematical


Teachers assess students

Students participate in a class discussion about ways existing knowledge through
a class discussion.
of earning money. They compare and contrast
different ways of getting paid.
Students compare current methods of payment and The mathematical concepts
jobs to that of the past, and make implications for
such as rate and
the future.
percentage are assessed
Students investigate hourly rate, commission based and revised.
and pro rate payment options.
Students practice problems on calculating wages
based on above payment options.

Internet access

Prior knowledge test

Internet access
Video: Show me the money
Practice worksheet

Lesson 3: Investigate and classify expenditures

- Briefly introduce various expenditures using the


Budget planner tool and let students explore it.

Provide students printed budget planner Excel file.
Students discuss with peers and classify each of the
expenditures in the budget planner as one-off,
periodic or regular.

Lesson 4: Calculate costs and compare buying

- Conduct a class discussion on mobile phone plans
available and investigate plans offered by three
network companies.
- Students choose the best buy considering their
usage volume.
- Students practice problems on calculating bills from
unit prices and quantity, hence choose best buy for
various other services.
- Conduct a class discussion identifying the meaning
of opportunity cost and the opportunity cost of
selecting either mobile phone plan.

Lesson 5: Financial planning overview.

- Students investigate questions and considerations

that need to be addressed when people plan for

their financial future such as savings & borrowings,
depreciation and inflation.
- Conduct a class discussion on students
understanding of depreciation/appreciation as the

Collect budget planner and
assess students
understanding on

The mathematical concepts
such as unit price, rate
and cost are assessed and
revised, as well as economic
concepts such as
opportunity cost.


Internet access

Printed Budget planner.

Internet access

Practice worksheet

Video: Money makes the world

This activity allows teachers go around.
to gauge students levels of
awareness about financial
planning and their
understanding of the impact

price reduction/increase of goods in use and

inflation as the Value of money over time.
Students consider the implications of inflation on
their future lives and how this affects the economy.
- Students write list of examples of daily life objects
to demonstrate their understanding of both
depreciation and appreciation.
- Students write list of examples showing how value
of money changes over time to demonstrate their
understanding of inflation.

Lesson 6: Savings and borrowings

- Conduct a class discussion on various options
available to save and borrow from bank.
- Students investigate and collect offers from three
banks for a number of those accounts.
- Students are to create a table highlighting the
similarities and differences between the accounts
and select an everyday transaction account, a
savings account and a term deposit
- Students discuss how banks generate profit.

Lesson 7: Understanding compound interest

- Students use a compound interest calculator to
explore the effects of compound interest. This
allows students to deduce the way that compound
interest works.
- Students verify the result using compound interest
- Students revise and consider how banks generate
profit using compound interest.

Lesson 8: Investment and loan

- Introduce how to use compound interest formula
for return on investment and loan repayment.
- Students solve problems on investment and loan
using compound interest formula.

Lesson 9: Depreciation and inflation

- Introduce how to use compound interest formula to
measure the effect of depreciation and inflation.
- Students solve problems on depreciation and
inflation using compound interest formula.
- Students link depreciation, inflation and interest to
their lives and the effects of these concepts on the

of inflation on their lives and

the economy as a whole.

This activity allows teachers
to gauge students
understanding of various
kinds of accounts.

Internet access

Students ability to identify,
interpret, summarise and
present key information is

This activity allows the
teacher to monitor student
understanding of profit
generation specific to a

Students understanding of
compound interest formula
and problem solving skill are


Students understanding of
depreciation/ inflation and
problem solving skill are

Internet access
Online compound interest

Internet access
Online compound interest

Practice worksheet
Internet access
Online compound interest

Practice worksheet

Lesson 10 + 11: Three-year financial plan

- Students use Budget planner Excel file and make
first years income and expenditure.
- Students add the option of Investment and loan in
the Excel file
- Students adjust income and regular/periodic
expenditure of first year with inflation rate for next
two years.
- Students calculate the return on investments and
loan amounts of first years for next two years.
- Students adjust the depreciation of the one-off
assets bought in first year for next two years.
- Finally, students make a balance sheet to show
their net financial position after three years.

Lesson 12: Three-year financial plan

- Students present their three-year financial plan.

This activity provides
teachers with feedback on
the understanding students
have gained from the unit.
Criteria for assessment are
provided later.

Internet access

MS Excel
MS Power point
Data projector