Year 8 Economics Course 1 Program Term 4 2017
Participation and Influences in the Marketplace
All students are entitled to rigorous, relevant and engaging learning programs drawn from the Western Australian Curriculum:
Humanities and Social Sciences. Teachers take account of the range of their students' current levels of learning, strengths, goals and
interests and make adjustments where necessary. In order to cater for the diverse needs of students across Western Australia and to
personalise their learning, the skills required in understanding the curriculum content differ in each course. In Year 8, students have the
opportunity to further develop the skills they built in Year 7 in new contexts. These skills will be the focus of lesson activities and
assessments in each course.
In Year 8 Course 1, the reinforcement and further development of the key skills of Questioning and Researching and Communicating and
Reflecting are the focus of lessons and assessment. These skills are:
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Identify current understandings to consider possible gaps and/or misconceptions, new knowledge needed and challenges to
personal perspectives
Identify differences in terms of origin and purpose between primary sources (e.g. a cartoon, speech, artefact) and secondary
sources (e.g. reference books, such as a dictionary or encyclopaedia)
Use appropriate ethical protocols to plan and conduct an inquiry (e.g. use specific formats for acknowledging other people’s
information)
Represent information and/or data using appropriate formats to suit audience and purpose(e.g. tables/graphs, visual displays,
models, timelines, maps, other graphic organisers)
Develop texts, particularly descriptions and explanations, using appropriate subject‐specific terminology and concepts that use
evidence to support findings, conclusions and/or arguments,from a range of sources.
Reflect on learning to review original understandings.
Week
Week 1
Content Outline & Resources
Lesson 1: Consumers
Activity 1
Read Hey, big spender (SOSE Alive 2 pg 218)
Outline key definitions
Activity 2
Create a glossary page
Define consumer, needs, wants, goods and services
Activity 3
Create a table brainstorming your different needs & wants
List the different goods and services you have used in the past week
Lesson 2
Lesson 2: The economic problem & resources
Activity 1
Discuss what the economic problem is
Students add the terms scarcity and economic problem to their glossary
Activity 2
PowerPoint presentation on resources
Students complete worksheet
Activity 3
Choose a good or service and create a collage on the types of resources used to produce that good
Alternatively, students can play a Kahoot based of the factors of production
Assessment
Lesson 3: Traditional & Indigenous Markets
Activity 1
Students watch the Kingdom of Monarch clip parts 1,2 & 3 (YouTube) and answer the questions on the
Kingdom of Monarch worksheet
Activity 2
Read Markets & Money (SOSE Alive 2 pg 224)
Add the terms barter and money to glossary
Answer questions 1 - 4
Week 1
Lesson 4: Types of markets
Activity 1
Students identify the different types of markets that exist within the Australian economy and create a
flow chart identifying the role of each market, what they produce and provide an example of each type
of market.
After reading Retail Market section, have students
watch https://www.youtube.com/watch?v=1myREdm6UPI and make notes to explain the role of this
sector, what they produce and examples.
Then read Labour Markets and have students
watch https://www.youtube.com/watch?v=H894hRwJ1PE and make notes to explain the role of this
sector, what they produce and examples.
Finally, read Financial Markets and have students
watch https://www.youtube.com/watch?v=ujLFsZfa_MY and make notes to explain the role of this
sector, what they produce and examples.
Activity 2
Create a fact sheet on the different market structures
Lesson 5: Introduction to the circular flow
Activity 1
Watch intro clip on the circular flow
https://www.youtube.com/watch?v=2wM0jHL6TQs&index=4&list=PLlMFU7TogvWYAQXj5eAMCM8
pmdRti95DC
Discuss and take notes
Activity 2
Draw and construct the full circular flow model
Extension
Students test themselves to see if they can draw the full model using the template
Week 2
Lesson 6: The finance Sector
Activity 1
Read the attached worksheet on the finance sector (Jacplus EBook)
Answer questions on the board and discuss as a class
Activity 2
Add key words to economics glossary
Activity 3
Summarise the role of the finance market in their exercise books
Lesson 7: The Government Sector
Activity 1
Read information sheet on the government sector (Jacplus EBook)
Activity 2
Complete A3 worksheet on the role of the government sector in the economy
Activity 3
Summarise the role of the government sector in exercise books
Week 2
Lesson 8: The Overseas Sector
Activity 1
Read attached worksheet Global markets and complete questions on worksheet (Society &
Environment for WA 3 pg 182)
Activity 2
Complete Interpreting bar graphs worksheet comparing the production of Big Mac's across the
world
Activity 3
Summarise the role of the overseas market in their exercise books
Lesson 9 – 11
Circular flow assessment preparation and test
Week 3
Lesson 12: The concepts of Demand & Supply
Activity 1
Read attached PDF (Society & Environment 3
Add the terms opportunity cost, demand and supply to glossary
Activity 2
Watch clip from Frozen https://www.youtube.com/watch?v=y_w105aWPNY
Students to discuss the following questions:
1. Explain what caused a reduced demand for ice and how this impacted Kristoff's business as an
ice harvester.
2. Explain what this problem led to an increased demand for and why.
3. Explain why this caused a supply problem and how this influenced pricing in Oaken's store.
Students to write a paragraph about how what influenced demand and supply of goods in Frozen.
Extension:
Answer questions from PDF
Circular Flow
Model
Assessment
Lesson 13: Market Failure
Activity 1
Watch intro video on public vs. private goods https://www.youtube.com/watch?v=E1v5eRs0_fw
Pause and discuss
Activity 2
Students view the attached PowerPoint and make notes on the different types of goods and
services produced by the government.
Week 4
Lesson 14: Types of Businesses
Activity 1
Students to view ppt and complete worksheet activities
Activity 2
Business success story https://www.youtube.com/watch?v=fhQt08zBVzw
Watch link and complete worksheet
Activity 3
Create a factsheet on Ingvar Kamprad
Lesson 15: Commonwealth Bank Smart Spending Workshop
Incursion
Lesson 16: Entrepreneurs
Activity 1
Using the table handout provided, get students to look at 3 entrepreneurs
(James Packer, Richard Branson, Kerry Stokes) and compare their businesses
Week 5
Lesson 17 – 21: Design your own Business
Complete design your own business activity
All lessons are written in the activity plan
Week 6
Lesson 22: Changing Workplaces
Students Read the attached PDF of the changing workplace in Australia and complete questions.
then they may go to http://bizkids.com/games and play the games.
Weeks
7&8
Exam Revision & Preparation