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NESA Syllabus Outcomes:
NESA Syllabus Outcomes:
A student:
- communicates and connects mathematical ideas using appropriate terminology, diagrams and symbols MA4-1WM
- applies appropriate mathematical techniques to solve problems MA4-2WM
- recognises and explains mathematical relationships using reasoning MA4-3WM
- solves financial problems involving purchasing goods MA4-6NA
Related Units
Related Units
Rationale
Rationale
Mathematics has a significant role in developing consumer and financial literacy in young people. In the Financial Mathematics sub-strand of the Mathematics curriculum, students learn:
- about the nature, forms and value of money;
- to solve problems involving money, such as counting change;
- to manage money by creating budgets and financial plans;
- to explore and calculate percentage discounts
- to work out ‘best value’ when purchasing a range of goods and services
- to choose financial products and to solve problems involving profit and loss, and
- about simple and compound interest.
Consumer and financial literacy provides a 'real world' context for students to learn other mathematics in the curriculum. Using authentic learning experiences engages students in mathematics, enables them to gain an understanding of a whole range of mathematical concepts and allows them to appreciate the relevance and usefulness of mathematics. The use of 'real world' contexts as a platform for learning mathematics also develops students’ ability to make informed judgements and effective consumer and financial decisions.
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