Open Access College Teaching and Learning Unit Plan 2021

Unit Planner Year 7/8 HASS

Learning Area Subject Economics and Year Level 7/8 Sequence
Business

Unit Title Let’s Get Down to Business

Description Within this unit students will learn about the patterns of successful business, the market and
financial management through the study of Economics and Business. Students will explore the
planning, goals and characteristics of successful businesses, their interactions with the market
and the impacts this has on individuals.

Learning Intentions By the end of this unit students will understand that:

● We can identify patterns in businesses that indicate whether a business will be

successful or fail

● The market responds to patterns and trends of individuals and governments

● People influence the business sector

● Business exists for two reasons: to respond to the needs and wants of people and to
provide employment to individuals

Assessment Task/s
Test of Time Task

Students will continue to develop their society which they established in the Geography unit, with a renewed focus on
generating money for their people. They will come across new challenges in Economics and Business related to issues
which they will need to respond to in their business sector

Achievement Year 7 Economics and Business

Standards - Describe the interdependence of consumers and producers in the market

- Explain the importance of short- and long-term planning to individual and business
success and identify different strategies that may be used

- Describe the characteristics of successful businesses and explain how entrepreneurial

capabilities contribute to this success

- Identify the reasons individuals choose to work and describe the various sources of
income that exist

- Develop questions and gather data and information from different sources to investigate
an economic or business issue

- Interpret data to identify trends

- Propose alternative responses to an issue and assess the costs and benefits of each
alternative

- Apply economics and business knowledge, skills and concepts to familiar problems

- Develop and present conclusions using appropriate texts, terms and concepts

- Identify the effects of their decisions and the possible effects of alternative actions.

Year 8 Economics and Business

- Explain how markets operate and recognise why governments may influence the
market’s operation

- Explain the rights and responsibilities of consumers and businesses in terms of financial
and economic decision-making
Open Access College Teaching and Learning Unit Plan 2021

- Explain why different types of businesses exist and describe the different ways
businesses can respond to opportunities in the market

- Describe influences on the way people work and factors that may affect work in the
future

- Develop questions and gather relevant data and information from different sources to
investigate an economic or business issue

- Interpret data to identify trends and relationships

- Propose a range of alternative responses to an issue and evaluate the costs and benefits
of each alternative

- Apply economics and business knowledge, skills and concepts to familiar and unfamiliar
problems

- Develop and present evidence-based conclusions using appropriate texts, subject-

specific language and concepts

- Identify the effects of an economic or business decision and the potential consequences
of alternative actions.

Literacy Connections Numeracy Connection

Students develop their ability to use the terminology of
Economics and Business through front loaded vocabulary
teaching of the metalanguage of the subject. Students
develop texts and arguments on Business issues, as well as,
skills constructing paragraphs, drafting and editing.
Students develop their ability to use and manipulate data in
relation to economic understandings of market trends.
Students will also develop their financial literacy by working
within economic frameworks.

Teaching and Week 1

Learning
Lesson 1: What is Economics and Business and why do we study it?

Berry Street RTL

Ensure elements of
Student Feedback Section
Model, Share, Guide
and Apply Learning Intentions for the Lesson: Economics and Business is the study of acquiring and
managing resources, resources can be classified in multiple ways, needs and wants define trends
and patterns in Business

Assess prior knowledge of the students and discussion the etymology of the terms Business and
Economics

Summarise the etymology of the terms and what that means in terms of what we are learning
this term

Brain Break

Assess Prior knowledge of the students through discussion on defining a resource

Draw connections to English advertising unit

Classifying stock into Needs and Want

If time permits: Connection to Maths last term with unit pricing

Independent Work: Find/list 3 businesses that sell the 10 products listed

Week 2

Lesson 2: What is a business? Why do different businesses exist? Who is involved in a Business?

Berry Street RTL

Open Access College Teaching and Learning Unit Plan 2021

Recap of Prior Learning

Learning Intentions for the Lesson: Businesses are created in response to the needs and wants of
the stakeholders, and these stakeholders are engaging in and generating markets

Exploring Stakeholders and how they define and generate a market

Independent Work: Identify 1 need and 1 want and which type of business would address this
need/want, answer why do different types of business exist?

Week 3

Lesson 3: What makes a Successful Business?

Recap of Prior Learning

Learning Intentions for the Lesson: There are patterns in businesses that indicate whether they
will make it or break it, most successful businesses are responding to a need or want of
stakeholders

Guide students through a discussion of particular brands to determine the pattern that generates
a successful business

Independent Work: Student to go through the same process we did in class with a product of
their own

Week 4

Lesson 4: What is the Pattern in Successful Businesses?

Recap of Prior Learning

Learning Intentions for the lesson: When building a business there is a pattern of planning that
can contribute to their success, not all businesses are successful

Share/Guide: Students work collaboratively with the teacher to work through the planning
process to establish a class business of their choice.

Guide: Students to discuss what they think happens when a business fails? using well known
businesses that failed well after establishment and start up companies that never got off the
ground

Share/Guide: Students to discuss the importance of competition in the market using the
contemporary product introduced at Mcdonald’s (Fried Chicken) and discussing the implications
in terms of market share and likelihood of success.

Independent Work: Student to have a go at planning out a business that responds to either a
Need or a Want.

Week 5

Lesson 5: How do businesses decide on a price for their product?

Check in for current understanding

Learning Intentions: To establish a successful price for a product was need to consider many
things, Prices of Goods and Services are determined by considering and balancing Supply and
Demand chains

Check for Prior understanding what is supply and demand, students may have heard these terms
used in different contexts
Open Access College Teaching and Learning Unit Plan 2021

Model: Explicitly explain what supply and demand chains are and what equilibrium means

Share: Go through examples from 2020 that clearly demonstrate the 5 major trends that
commonly occur in marketing and pricing trends associated with the supply and demand

● Toilet Paper: Demand Up, Supply Constant, Price Up

● Hand Sanitiser: Demand Up, Supply Down, Price Up

● Meat: Demand Spiked and then Crashed, Supply Up and over what was needed, Price
Down

● Plane Tickets Before Lock Downs: Demand Down, Supply Constant, Price Down

● Fresh Produce: Demand Constant, Supply Constant, Price Constant

Independent Work: Students to identify trends in supply and demand and how this effects
pricing use 5 new scenarios that address the same trends identified in lesson

Week 6

Lesson 6: Business Adaptability

Learning Map to put current learning in context

Learning Intention: Most successful businesses respond to what is happening in the market

Share: Students to guess which brand we are using to explore the concept of adaptability in
business

Guide: Students to discuss why they think Apple changed their product from computers to
handheld touch devices

Guide: Students to discuss what makes a computer

Model: Teacher to reveal the typical desktop arrangement followed by what computers used to
look like when they operated on a DOS system.

Guide: Students to discuss the benefits of the mouse

Model: Teacher to reveal that apple was the first computing company to sell a cheaper
commercial computer with a mouse and what this does to the market trends until Windows
takes over the market share

Model: Teacher to then discuss the implications of losing the market share and what apple
needed to do to survive, within the context of technology at the time (Walkmans) and the
implications of the ipod and touch technology in terms of Apples survival as a company and how
they now dominate the market linking to supply and demand and learning from the prior lesson.

Independent Work: Students to read through the scenarios provided and develop an alternative,
innovative solution to the problem beside altering the price in line with supply and demand
chains.

Week 7

Lesson 7: Who can start from nothing and have huge success in business?

Learning Intentions: The Business Owners that make hugely successful businesses from nothing
take huge risks to get there, These people have certain traits that help them to create this success

Check student understanding of the term Success

Model: Introduce the concept of Entrepreneurship

Model: Go through the characteristics of an entrepreneur and what the means in relation to
Open Access College Teaching and Learning Unit Plan 2021

business

Guide: Students to reflect on their own characteristics and determine if they have what it takes to
be an entrepreneur

Model: Teacher to expose students to the website KickStarter and explain how it works and
relates to entrepreneurship

Guide: After exploring the products on Kickstarter students to determine which of the two
products they would back with their own money

Model: Teacher to guide the students through the process of identifying the three key
characteristics of an entrepreneur and how we see them in the Kickstarter projects

Independent Work: Students to select a product on Kickstarter and identify where they see the
traits of an entrepreneur in the product