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Essay / Research Paper Abstract
This 5 page paper looks at the way that children are taught about money in Australia. The paper outlines a number of approaches that are found in primary and secondary schools, including the commercially sponsored programs. The bibliography cites 7 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEausmoney.rtf
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Unformatted sample text from the term paper:
curriculum in Australia (Australasian Business Intelligence, 2006). A framework has been put together by a government agency; The Ministerial Council on Education, Employment, Training and Youth Affairs with the aim
of increasing financial literacy in Australia. This is not a program that is only applicable to schools; it has the aim of benefiting all current and future consumers, so it
is targeting adults as well as children through a range of initiatives (MCEETYA, 2008). The recommendations under the framework have been the result of studies in other areas particularly the
UK, it was recognised that there needed to be the ability to "relate personal financial education to existing curriculum" and "provide young people with opportunities to identify, engage with
and discuss "real world" financial Contexts" (MCEETYA, 2008). The framework outlines the progress that students should be achieving by different stages of their education starting at year 3, where
students should understand the concept of money, for example, that it is not just coins and notes, but can be used through cheques and debit or credit cards, where money
comes from and that it is limited so families need to budget, the difference between what is wanted and what is needed ands that money can be saved (MCEETYA, 2008).
By year 5 the students are starting to look at their right and responsibility in connection with money and financial transactions and there is attention paid to the influence
of peer pressure and the social environment. The stages are outlines in two year increments, going up to year 9 with progressive steps by which time they should be able
to keep simple personal financial records, determine financial goals and assess risk and return with basic information (MCEETYA, 2008). This framework; National Consumer and Financial Literacy Framework, was endorsed
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