Scotch College

COMMERCE Year 9 — 2012

Your rights & the law

Rationale 

The course gives a basic introduction to the world of commerce in an Australian context.  Students will investigate a range of commercial transactions including the role of the consumer as a buyer and seller of goods and services; as a voter and user of government services; as a legal citizen with rights and responsibilities and as a participant in the global community.  The course adopts a practical approach, utilizing student inquiry based learning combined 

with role-plays and formalized individual and group work.  Its overall aim is to develop students’ financial literacy 

and understanding of civic rights in order to arm them with the relevant skills necessary to survive in a democratic market economy.

Student Outcomes 

Will be able to describe:

• the basic features of a market economy
• a consumer in our society
• the rights and responsibilities of a consumer
• the role of government in society
• the Australian legal system

and also

• outline the system of voting in Australia and identify the government’s role in managing the economy
• identify and describe the rights of young people
• distinguish between civil and criminal law

Course Content

• Examines the place of the consumer in the world of commerce.

• The three sectors of commerce – Producers, Consumers & Government.

• The basic concepts of economic decision making, including opportunity cost, relative scarcity, factors of production, capital and consumer goods.

• An examination of economies, including subsistence, transitional, command and market economies.

• Consideration of some of the economic problems facing Australia and the world, including unemployment, inflation (or deflation), poverty and the use of non-renewable resources.

• The Consumer:  This topic focuses upon consumers, their basic rights and responsibilities in a commercial environment; 

• who are consumers? 
• consumers: basic rights and responsibilities 
• the effects of advertising on consumer choice and buying wisely 
• how prices are set in a market economy 

• Consumers and Government:  This topic examines the relationship between consumers and government;

• the role of government including the provision of collective needs through taxation 
• the three levels of government: Federal, State and Local 
• voting systems and parliamentary procedures 
• political parties and their impact upon the political system 
• the role of Government in managing the Australian economy

• Young People and the Law:  This topic examines the legal system and the rights and responsibilities of individuals;

• the Australian legal system, including court hierarchy, civil and criminal law, legal and non-legal rules 
• law making – the role of Parliament and the Courts 
• changes in the law, proposed and actual 
• the role of police and the rights of the individual 

• Global Citizenship:  This topic examines the issues of civics and citizenship in a national and global context;

• what makes a good citizen? 
• rights and responsibilities of an active citizen 
• the notion of good governance 
• citizenship, human rights and responsibilities 

Assessment 

Examination

Applied Tasks

Major Assignment

Commerce:  Investment & Money

Rationale 

The course attempts to expose and educate students in the commercial and financial skills required to survive in everyday life. It takes a thematic approach exploring topics such as careers, personal finance, paying tax, investing 

and buying a car. It develops teamwork and life skills through involving students in case studies and role-plays where they experience, as close as possible, the real life commercial world.

Student Outcomes  

Students will demonstrate financial literacy by being able to:

• describe the advantages of organizing personal finances and budgeting
• describe the different sources of income available in Australian society
• compare the strengths and weaknesses of the options available for organizing personal finances
• identify and assess a range of investment options
• explain the purpose of the different types of tax payable by individuals and business
• complete a basic tax return using TAX PACK
• describe different strategies that individuals can use to minimize tax

Course Content

• The Workplace:  This topic examines the role of the consumer as a worker or employee;

• working and earning an income, including the differences between wages, commission, profit, fees, income. 
• occupations and post school options including: apprenticeships, tertiary study, part-time and casual work and cadet-ships
• job applications including: how to look for jobs (including internet job ads), how to prepare a resume, applying on line, letters of application and interview techniques 

• Paying Tax:  This topic considers the role of the consumer as a tax payer, both through income tax and sales tax (GST);

• why we pay taxes and where taxes go 
• different types of taxes: income tax (progressive), PAYG, BAS statements, GST (regressive), flat tax (proportional) 
• tax returns - understanding such concepts as taxable income, group certificates, legal deductions, tax 
• brackets and how to calculate tax payable. This involves submitting a completed TAX PACK.

• Budgeting and Money:  This topic examines the role and history of money and personal financial management;

• what is money? barter, exchange and buying without cash
• personal finances: bank accounts, cheques, credit cards, ATMs, EFTPOS and on line banking 
• credit and credit cards
• smart cards and a cashless society
• saving and budgeting, including the development of a personal budget

• Investment:   Income earned and not spent is savings and savings can be invested;

• investment options: term deposits, managed funds, share market, superannuation, property 
• the relationship between risk and return
• investment strategies: lending money compared with owning assets
• the share-market:  students will play the Australian Stock Exchange share-market game and be assessed on their participation and involvement

• Buying a Car: One of the major purchases for consumers is a car. This topic examines the key elements in buying a car; 

• where to start – new versus used cars 
• buying advice and what to look for, including finance options 
• legal requirements including registration, licensing and insurance 

Assessment 

Examination 

Applied Tasks

Major Assignment