ASIC Victorian middle school resource

Levels 5 and 6 (years 7–10)

This covers important consumer education issues for young people, for example, buying a car, mobile phone or dealing with credit. It will be of particular interest to Commerce/Business Studies teachers, working in Humanities – Economics.

Produced in consultation with the Victorian Curriculum and Assessment Authority and the Victorian Commercial Teachers’ Association, the resources comply with Victorian Essential Learning Standards. Both units can be linked to the National Framework for Financial Literacy.

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Table of contents	Learning objectives
Commerce topics and ASIC/FIDO resources Consumer knowledge quiz
Unit 1: Confident consumers - Introduction - I want that one - Consumer protection - Advertising and marketing - Buying a car - Scams - Revision activities	Unit 1 - Confident consumers Students will be able to: Explain the need for consumers to have adequate information before purchasing goods and services Discuss the impact advertising has on consumer choice and identify some sales techniques Explain ways in which consumers are protected by law Identify some key elements of Australian consumer law Identify agencies that enforce consumer legislation and discuss how legislation benefits consumers, business and the economy Research consumer information from a variety of sources including the internet.
Unit 2: Managing money - Introduction - Setting financial goals - Loans and credit - Investing your money - Becoming independent - Starting a business - Revision activities	Unit 2 - Managing money Students will be able to: Develop an understanding of key financial terms Apply financial literacy competencies and skills to personal finance matters Explain the principles of budgeting and construct a personal budget Research and evaluate a range of investment options including shares, property and superannuation Develop personal savings goals for the future Recognise the key indicators of financial scams.

FIDO Website: Printed 03/17/2010