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PLAN
PLAN
This unit of work presents syllabus dot-points in a very similar order provided in the NSW Mathematics K-10 Syllabus (2012). It will follow the following pattern of progression:
Firstly, it introduces students to interpreting pay slips and job advertisements to calculate different pay rates, earnings from non-wage sources, as well as weekly, fortnightly, monthly and yearly earnings.
Secondly, students then learn about their rights as employees (e.g. leave loading, rebate) as well as their legal responsibilities and processes (e.g. taxation, levies).
Thirdly, students develop conceptual understanding and learn how to calculate simple and compound interest. This knowledge is for investing as well as borrowing money from a bank.
Fourthly, students investigate the terms and conditions associated with fees and charges in order to compare the benefits and disadvantages of paying by cash, using promotions and other payment methods (e.g. afterpay). They also learn about the consequences of financial debt such as repossession.
Throughout these four main areas, students will develop calculator and graphing skills as well as their ICT skills in conducting research and using spreadsheets.
This unit of work follows this sequence because it gently eases students into thinking about their money management in a logical order. For example, students must select a suitable frequency of payment (e.g. weekly or fortnightly), they must then learn about saving. budgeting and paying taxes and levies before they can consider investing their money.
MINDMAP
MINDMAP
UNIT OF WORK
UNIT OF WORK
Samples of a unit of work from NESA for 5.1 Financial Mathematics can be found using the links below:
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