UNIT OUTLINE

Subject: Financial Maths Course: Mathematics Standard Stage 6, Year 11 Number of Weeks: 8 x 60minute
lessons
Unit title: Money Matters

Key Concepts The importance of this learning

Financial Maths This unit applies mathematics to real life financial situations and equips the students with knowledge and skills that are necessary to
F1.3 – Budgeting and household expenses understand numbers in relation to earning, spending, saving and borrowing money. Furthermore this unit educates students on how to
analyze different financial situations, how to calculate best options for buying a car as well as solving real life financial problems.
Understanding budgeting and how to make informed financial decisions will aid students in managing personal finances effectively,
which is an imperative tool for their life now and in the future.

Unit context within Scope and Sequence/Purpose Syllabus Outcomes

Entire Unit › MS11 – 2 represents information in symbolic, graphical and tabular form
› MS11-5 models relevant financial situations using appropriate tools
› MS11 – 6 makes predictions about everyday situations based on simple mathematical models
› MS11- 9 uses appropriate technology to investigate, organise and interpret information in a range of contexts
› MS11- 10 justifies a response to a given problem using appropriate mathematical terminology and/or calculations
Literacy Focus Numeracy Focus ICT Focus Differentiation
- Defining key terms associated with - Using/Designing spreadsheets for; Different levels of difficulty per task
buying a car calculating and comparing the cost of Pair work and group work
- Defining budgeting and fixed and purchasing and sustainability of Different exit points in activities
discretionary spending different cars (lesson 6) and for
creating a budget plan to buy a new car
(week 8).
- All research tasks require ICT

Week/ Sequence Syllabus Content Teaching and Learning Strategies including assessment for learning. Resources
 Interpret and use information about *Class discussion: types of household bills, what do utility bills tell us? Examples of Bills
1 household utility usage and related charges * Interpret 3 different bills (electricity, gas, water etc).
and costs from household bills. * Research and find an average electricity bill. Analyze and identify months in which https://www.canstarblue.com.au/energy/electric
electricity bills are higher. Use graphing to show findings ity/average-electricity-bills/
*Group work: Propose ways in which you and your family can minimise house hold
utility costs
  Plan for the purchase of a car *Brainstorm in pairs the costs associated with buying and owning a car. Follow with Worksheet on road cost for buying a car
– Investigate on-road costs for new and used class discussion.
2 vehicles, including sale price (or loan *Define registration, stamp duty, insurance and finance.
repayments), registration, insurance and *Using examples from worksheet. Investigate the on road costs for buying a car,
stamp duty at current rates including finance/loans/repayments. Applying formulas (include Simple interest
and Compound interest)

 Plan for the running and maintenance of a car *Class discussion: identify and define insurance policies (compulsory third party https://www.canstar.com.au/car-
– Describe the different types of insurance comprehensive/third party property insurance). insurance/buying-your-first-car-costs-to-
available, including compulsory and non- *Think pair share – factors that affect your insurance premium. Give scenarios, budget-for/
3 compulsory third-party insurance, and Record Pros and cons. Discuss as a class
comprehensive insurance *investigate and analyze insurance premiums, stamp duty and registration costs.
*Complete worksheet on calculating insurance and stamp duty. Apply given
formulas.

 Plan for the running and maintenance of a car * In class exam (30min) on costs of buying a car Exam paper on costs of buy a car
– Investigate other running costs associated *Think pair share activity: identify what other running costs owning a car comes (loans/finances/insurance/registration/stamp
4 with ownership of a vehicle, e.g. cost of with? duty)
servicing, repairs and tyres *Research in groups average prices for identified running costs for a given car https://www.canstar.com.au/car-
scenario (servicing, repairs, tolls, carwashes, fines). Record findings in a table insurance/buying-your-first-car-costs-to-
budget-for/
 Plan for the purchase of a car *Complete examples on worksheet car running costs and fuel consumption. Worksheet on running costs and fuel
– consider sustainability when choosing a Applying formulas. consumption
vehicle to purchase, egg fuel consumption * Using internet resource ‘Australian institute of petroleum’. Identify and graph
5 rates average price of fuel/Lt in students’ area over last 6 months. Compare with other https://www.aip.com.au/pricing/pump-prices
students from other neighbourhoods.
*Group discussion: Identify what factors effect fuel consumption
– calculate and compare the cost of *Complete example questions on weekly / monthly / annual costs of owning a car Worksheet on costs for owning a car
6 purchasing different vehicles using a *In class assessment for learning: Design a spreadsheet: calculate and compare the Excel
spreadsheet cost of purchasing and sustainability of different cars. Examples given
– calculate and compare the cost of running Details for inclass assessment for learning task
different vehicles using a spreadsheet
https://www.carshowroom.com.au/compare-
cars
 prepare a personal budget for a given income, * Class discussion on definitions: what is budgeting? What is fixed and discretionary “consequences for not following a budget
taking into account fixed and discretionary spending? worksheet”
7 spending *Consequences of not following a budget worksheet.
*Worksheet on recording expenses and budgeting for given incomes. worksheet on recording expenses and
budgeting
  prepare a personal budget for a given income, * Design a spreadsheet for a budget plan to buy a new car of your choice (with Excel
taking into account fixed and discretionary some parameters given).
8 spending *The bean game “living on a 20 bean salary” The bean bag game instructions and worksheet
– calculate and compare the cost of – (coffee beans, or any type of dried beans)
purchasing different vehicles using a
spreadsheet
– calculate and compare the cost of running
different vehicles using a spreadsheet
Assessment Details Outcomes
Throughout the unit the students are requires to graph and make use of › MS11 – 2 represents information in symbolic, graphical and tabular form
spreadsheets to show findings and information.

students apply formulas and takes appropriate steps to solve relevant › MS11-5 models relevant financial situations using appropriate tools
financial situations through worksheets, group/pair work and assessments
for learning › MS11 – 6 makes predictions about everyday situations based on simple mathematical models

throughout the unit the students learn and model how to predict every day
situations using appropriate mathematical procedures, this is shown in the
work sheets and class activities.

Uses the internet appropriately to inquire and research an array of every › MS11- 9 uses appropriate technology to investigate, organise and interpret information in a range of contexts
day financial situations throughout the unit plan to aid in learning and
understanding.
› MS11- 10 justifies a response to a given problem using appropriate mathematical terminology and/or calculations
Students are required to work through and solve mathematical problems by
working through class worksheets and activities.

Evaluation of the Learning and Teaching

Continuously walking around observing at how the students are responding
and giving instant feedback
Ongoing formative assessment within classrooms for the purpose of
monitoring learning and providing feedback.
Through pair and group work students have the opportunity to share
learning and participate in peer assessment.
The in class assessment for learning activity in week 6 allows the students to
work through the task whilst the teacher is there and able to give instant
feedback this allows the teacher to also have instant feedback on levels of
understanding. The summative assessment is a 30 minute traditional exam
used as assessment of learning to test the students knowledge so far
through the unit.
MARKING RUBRIC FOR BUYING A CAR EXAM

Outcomes FAIL 0-1 PASS 1 CREDIT 2 DISTINCTION 3 HIGH DISTINCTION 4

Mathematical Shows little to no Shows a satisfactory Shows a substantial Shows a strong Shows a complete
Concepts understanding of the understanding of some understanding of most understanding of most understanding of all
mathematical of the mathematical of the mathematical of the mathematical mathematical concepts
concepts related to concepts related to concepts related to concepts related to related to buying a car
buying a car buying a car including buying a car including buying a car including including loans, loan
including loans, loan loans, loan repayments, loans, loan repayments, loans, loan repayments, insurance
repayments, insurance and stamp insurance and stamp repayments, insurance and stamp duty
insurance and stamp duty duty and stamp duty
duty
Mathematical 50% or more of all 50-65% of all the steps 65-78% of all the steps 78-90 of all the steps 90-100% of all the steps
error the steps and and solutions have no and solutions have no and solutions have no and solutions have no
solutions have mathematical errors mathematical errors mathematical errors mathematical errors
mathematical errors
Mathematical Rarely uses Sometimes uses Uses appropriate math Uses appropriate Is able to efficiently and
procedures appropriate math appropriate math tools tools and procedures math tools and effectively apply
tools and procedures and procedures when most of the time when procedures with appropriate math tools
to solve problem/s solving problem/s but solving problems. minimal error when and procedures when
unable lacks consistency solving the problem/s solving all problems, and
and Is able to Is able to recognize and
efficiently recognize apply previously learned
and apply previously knowledge.
learned knowledge.
RUBRIC FOR SPREEDSHEET ON BUYING AND RUNNING A CAR /16

Needs improvement 1 Satisfactory 2 Good 3 Excellent 4

Spreadsheet Unable to design an effective Able to design a Able to design an effective Able to design a very
spreadsheet spreadsheet, however is and clearly understood effective and clearly
inconsistent and at times spreadsheet understood spreadsheet
unclear
Comprehension Comprehends most of the Comprehends some of Comprehends all the Comprehends all the
information given information given information given and enters information given and enters
incorrectly. incorrectly. Attempts to correctly into spreadsheet correctly into spreadsheet
enter into spreadsheet with minimal errors. with no errors.
however with some errors.
Mathematical procedures Applies incorrect formulas Applies correct Applies correct Applies correct
into more than 50% of the mathematical formulas into mathematical formulas into mathematical formulas into
cells 50-70% of the cells 70-90% of the cells for 90-100% of the cells for
efficiency and minimal error maximum efficiency and
minimal error
Creativeness Unable to think critical Is able to apply some critical Is able to use critical thinking Is able to use critical thinking
thinking when giving worded thinking when giving worded to effectively when giving to effectively when giving
solutions and justifications solutions and justifications worded solutions and worded solutions and
justifications. justifications.
Shows some creativity in Shows creativity in answers
answers. and in the design of
Attempts to complete bonus spreadsheet
question Answers bonus question
REFLECTION

This unit of work has been designed for the Stage 6 General Mathematics Year 11 syllabus ‘Sub Topic Money Matters’ content ‘budgeting and
household expenses’. My goal when designing this unit was to create activities and lessons that were engaging, significant and meaningful to
the students, that inspired a higher order thinking mindset. I believe choosing a constructivist style approaches such as Problem Based
Learning (PBL) and student centered learning to my design would support this. To align with my initial goals I needed to adopt certain
pedagogical method and approach to my teaching. Higher order thinking skills such as critical thinking is one of the general capabilities in the
Stage 6 General Mathematics syllabus therefore I felt it was important to implementing methods to evoke it, such as, open ended questions,
brainstorming, group work, class discussion and debates on mathematics and subject matter. Choosing correct research tasks and
assessments are also key to initiating higher order thinking skills (Goos et al., 2017). These pedagogical approaches further engage the
students, encouraging them to make real life connections and meanings to mathematics. They are learning and linking mathematics to their
previously learned knowledge and experiences that are key elements to PBL (Padmavathy & Mareesh, 2013). Studies have shown these styles
of pedagogies in a mathematics classroom grasp student’s attention and willingness to learn on a much higher level than the traditional
lecture/instructional style of pedagogy (Padmavathy & Mareesh, 2013).

Padmavthy & Mareesh (2013) state that adopting PBL into your teaching creates a learning environment where problems drive learning. In
other words, learning begins with a problem that needs to be solved. This encourages students to seek more information and knowledge so
that they can solve the problem. This is evident in my unit of work. When students are required to learn and gather information regarding the
purchase costs and on-road costs of a new car, they are able to devise a plan and use mathematical processes that they have learnt to
calculate the costs to purchase a new car.
I coupled this idea with scaffolding my lessons and activities in a way that encourages students to think critically about the topic and task at
hand. Beginning with a pre discussion about a topic and drawing on students’ previous knowledge and experiences, followed by definitions,
group and peer work and concluding with research and inquiry based tasks. Goos et al. (2017) points out that Vykosky (1978) and Wood,
Bruner & Ross (1976) state that application of scaffolding to the way a teacher structures mathematical lessons enables students have a
guided way to critical thinking and enable certain students to participate in joint activities that may have been too difficult to comprehend alone.
Joint activities are also a great method for differentiating tasks for different levels of learners (Goos et al., 2017).

Adhering to my goals, I was able to implement meaning and significance to mathematics in my unit. An example is in my lesson plan. The
lesson starts off with a personal question to the students, “if you could have 5 items under $5000 what would they be”. The question is
followed by open-ended questions to inspire the students to think critically and engage in group/class discussion. The topic of the lesson,
“budgeting”, is then introduced. Being able to incorporate significance into my lessons is imperative and links to the Quality Teaching
Framework.

One of the assessments was an in class ‘assessment for learning’ task that involves designing a spreadsheet of a variety of cars to compare
the purchase and ongoing costs. Designed around the idea of being able to organize mathematic instruction that required the students to use
previously learnt knowledge and critical thinking to solve the problems (Saragih & Napitupulu, 2015). The assessment task challenges different
levels of learning and knowledge and encourage students to think creatively and critically. In addition it incorporates ICT one of the key
capabilities in the Syllabus (NESA, 2017) . My only concern with this task was that it may be too time consuming however I wanted to use it as
a layered learning activity for a task in week 8 which involves students to design a budgeting spreadsheet for their own ideal first car.
It is important to reflect on why I chose the lesson plan I did. It was simple to design as the worksheets were not complex. This required
minimal work into the resources. Because I had already designed the unit plan and two assessments and their marking criteria and rubrics I felt
like I’d take some workload off by choosing this lesson. Upon my reflection, I realized that I had chose the easier route and that I do not want to
be doing this as a future teacher. I have learned a great deal from this assessment as whole. Reflecting on my approaches to my teaching, this
assessment and the knowledge I have learnt has given me the opportunity to identify the areas that I need to educate myself more on and
improve.

References

Goos, M., Vale, C., Stillman, G., Makar, K., Herbert, S., & Geiger, V. (2017). Teaching secondary school mathematics (2nd ed., pp. 29-33, 138-
51). Crows Nest: Allen & Unwin.

NSW Education Standards Authority (NESA). (2017). Mathematics Standard Stage 6. Retrieved from
https://syllabus.nesa.nsw.edu.au/mathematics-standard-stage6/

Padmavathy, R. D., & Mareesh, K. (2013). Effectiveness of Problem Based Learning In Mathematics. International Multidisciplinary e-
Journal, 2(1), 45-51.
Saragih, S., & Napitupulu, E. (2015). Developing Student-Centered Learning Model to Improve High Order Mathematical Thinking
Ability. International Education Studies, 8(6). http://dx.doi.org/10.5539/ies.v8n6p104

Smart, J., & Marshall, J. (2013). Interactions Between Classroom Discourse, Teacher Questioning, and Student Cognitive Engagement in
Middle School Science. Journal Of Science Teacher Education, 24(2), 249-267. http://dx.doi.org/10.1007/s10972-012-9297-9