Grade 5-6

Grade 5/6 Learning

 

Economics

For our inquiry learning topic this semester we are looking at economics. The below units all run at the same time and they are designed to give the students an engaging, hands on and interactive experience. Below is a brief outline of some of the different areas we cover and activities we do.

I am a Consumer

This unit runs in line with the Australian Curriculum and from this some topics we cover are

-          Being an informed consumer

-          Different Jobs

-          Different ways to pay

-          What an economy is

-          Advertising

Game of Life

This activity runs for the entire semester and we look at many areas including

  • Needs and wants
  • Banking
  • Spending
  • Interest Rates
  • Savings
  • Loans

Students all have an avatar and they need to find a balance between health, wealth and happiness. They receive points depending on what they decide to purchase. All students have a job and either make money from their business or get a wage depending on what job they have. Some of the jobs are

-          Town Planner

-          Mayors Assistant

-          Shopping Centre Manager

-          Journalist

-          Skateboard shop owner

-          Grocery store owner

-          Real estate agent

From this wage they need to make sure they pay their rent or mortgage, insurance (health, homework, car, home) and tax. Once they have done this they need to make sure they have enough health points to survive. Students get health points from gym memberships, food and the doctor. Happiness points are gained from making purchases from such shops as the cinema, car dealership, furniture, and hairdresser and electronics store.

All members of Funky Town and Smiley Town record their points on the large game board and they watch every week as they aim to have all three pieces in the middle of health, wealth and happiness. They are all aware of falling below the red line and are all endeavoring to find that balance.

Market Day

This is a project where students are required to produce a business plan for a store. They will have the opportunity to sell their products to the school and the local community during a market day. The aim of this unit is to help students understand

  • Profit and loss
  • Breakeven point
  • SWOT analysis
  • Target Market
  • Pricing
  • Positioning

At the end of the unit we reflect on the positives and negatives of each business and if the store matched the projected outcomes of the business plans.