A piece of my pie – budgeting and profit analysis
Lesson overview
Australian Curriculum: Humanities and Social Sciences
Economics and Business
Interpretation and Analysis
- Years 9 and 10 - Analyse data and information in different formats to explain cause and effect relationships, make predictions and illustrate alternative perspectives (ACHES045)
Communication and Reflection
- Years 9 and 10 - Present reasoned arguments and evidence-based conclusions in a range of appropriate formats using economics and business conventions, language and concepts (ACHES048)
- Economic reasoning, decision-making and application
- Years 9 and 10 - Generate a range of viable options in response to an economic or business issue or event, use cost-benefit analysis and appropriate criteria to recommend and justify a course of action and predict the potential consequences of the proposed action (ACHES046)
Students will develop an understanding of profit drivers for farmers. They will discuss how seasonal variability and global markets affect profitability and conduct an analysis on a wheat cropping program.
Resources
- Calculator
- Access to chart tool (MS Word suggested)