This term in Integrated Studies, students have have been working on an economics small business project. After learning about how our needs impact on where and how we live, students chose their own groups and came up with an idea for a business that could address a need or a want.
The initial stages of the project involved creating a company name, logo and vision statement. A Year Six stock exchange was then set up and groups share prices fluctuate according to their output each week. Each company was given a list of ethical decisions that had consequences for each choice, and they produced an analysis of an Asian country and Australia to help identify potential customers.
Students have also set up a company website to store all their work throughout the unit, and they have begun filming advertisements for their companies. This project focuses on how Asia and Australia are connected and provides students with the knowledge of how understanding money and its management can help us to meet our wants. Students have investigated why trade is necessary and through their business decisions, they begin to discuss financial concepts like wages, tax, budgets and inflation with the goal of becoming more financially astute in order to make more informed and considered decisions about the products they purchase or request to be bought for them.