Year 9 Economics and Business Unit
Course outline for Year 9 HASS unit on Economics and Business.
Financial Risks
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ScamWatch. (n.d.). Types of scams. https://www.scamwatch.gov.au/types-of-scamsIdentifies and explains types of scams and ways scammers reach you.
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ScamWatch. (n.d.). Scam statistics. https://www.scamwatch.gov.au/research-and-resources/scam-statisticsThis interactive data is updated monthly.
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ScamWatch. (n.d.). Help to spot and avoid scams. https://www.scamwatch.gov.au/stay-protected/help-to-spot-and-avoid-scamsCriminals take advantage of new technology, new products or services and major events. They use them to create believable stories that convince you to give them your money, financial or personal details.
Moneysmart. (n.d.). Avoid scams [Video]. https://www.youtube.com/watch?v=xIQ-ZfUlkGU&t=7s
Mitigating Risks
Investments
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Moneysmart. (n.d.). Choose your investments. https://moneysmart.gov.au/how-to-invest/choose-your-investmentsTo invest well, you need to find investments that fit your financial goals, investing time frame and risk tolerance. Get an overview of the different types of investments so you can find the right ones to reach your financial goals.
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Moneysmart. (n.d.). Borrowing to invest. https://moneysmart.gov.au/how-to-invest/borrowing-to-investBorrowing to invest, also known as gearing or leverage, is a risky business. While you get bigger returns when markets go up, it leads to larger losses when markets fall. You still have to repay the investment loan and interest, even if your investment falls in value.
Debt
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Moneysmart. (n.d.). Get debt under control. https://moneysmart.gov.au/managing-debt/get-debt-under-controlOwing money or falling behind on repayments can be stressful. The good news is there are steps you can take to get out of debt — and stay out of debt.
Australia’s Financial System
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Reserve Bank of Australia. (2023, April). 2. The Australian Financial System. https://www.rba.gov.au/publications/fsr/2023/apr/australian-financial-system.html#:~:text=Summary,that%20has%20strong%20liquidity%20coverage.The Australian financial system is strong. There are several features that leave it well placed to support economic activity through the current challenging economic and financial environment.
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Australian Government, Productivity Commission. (2018, June). Enhancing competition in Australia's financial system. https://guides.lib.monash.edu/c.php?g=219786&p=1454686The Australian financial system is a very large, strong and growing part of the economy. Comprising banks, credit unions, insurers and reinsurers, and superannuation funds, with a combined total of $7.6 trillion in assets, it contributes around $150 billion per year to Australia’s gross domestic production.
Canstar. (2018, June 28). Banking Royal Commission 101 [Video]. https://www.youtube.com/watch?v=7ScQWxDRTlk
Australian Broadcasting Corporation. (2021, February 5). Two years on, what changes has the banking Royal Commission delivered? [TV series episode]. In ABC News. Australian Broadcasting Corporation.
Australian Broadcasting Corporation. (2021, February 12). Have banks changed since the banking royal commission? [TV series episode]. In 7.30. Australian Broadcasting Corporation.
Network 10. (2024, March 7). Dropping branches [TV series episode]. In The Project. Network 10.