Money Unit Assessment Task



Year 8 Humanities

Money Unit Assessment Task

TASK 1: Read the News

The Greek Financial Crisis

Review the following resources and use them, and your own research to answer the questions that follow.

Resources

Video 1:

Article 1:

Article 2:

Questions

Q1. What has happened to Greece’s economy recently? What event prompted the crisis?

2 Marks

Q2. Article 2 mentions ‘austerity measures’. What does this term mean, why are they necessary and what ‘austerity measures’ have the Greek government proposed?

4 Marks

Q3. In Article 2, Mr Papadakis says “We will have to learn to pay taxes”

a. What is taxation and what is its purpose

b. Why do people try to avoid paying tax?

c. How might people failing to pay tax have caused economic problems in Greece?

6 Marks

Q4. According to Article 1, How much money is going to be loaned to Greece to help pay the bills? Why would other European countries want to pay Greek debts?

4 Marks

Q5. Article 1 refers to ‘the public sector’. What is the public sector and why is spending in this area a focus for cutting spending?

2 Marks

The Australian Budget

Resources

Article 1:

Article 2:

Article 3:

Q1. How often does the Australian Government produce a budget?

1 Mark

Q2. What does it mean to say that a budget is in deficit or surplus?

1 Mark

Q3. a. What tax change is proposed that will affect mining companies?

b. Wayne Swan says this tax ‘ensures more Australians share in the profits of resources they all own’. What does he mean by this statement?

c. Do you support this new tax? Give reasons for your answer.

6 Marks

Q4. Why do you think the government has proposed a 50 per cent discount on interest earned on savings?

Q5. Give two detailed reasons why the Government would choose to put extra money into preventing people smuggling.

4 Marks

Q6. Explain two measures that Tony Abbot’s opposition suggested they would introduce, if they were in government.

4 Marks

TASK 2: Find the news

Find 2 newspaper articles and complete the following tasks:

1. Summarise the article in 5 dot points

4 marks

2. Find 4 finance or economics related terms in the article. In your own words, explain their meaning.

4 marks

3. Can you identify any bias in the article? Using examples from the article, show how you can identify the author’s point of view and explain what you think that point of view is.

2 marks

TASK 3: Form your own opinion

Write your own short opinion piece about a financial issue (About 300-400 words)

10 Marks

Here are some ideas of topics that you might use but feel free to choose your own:

What do you think about the Rudd government’s budget?

All children should receive pocket money to teach them good money management skills

Private schools should not receive any government funding.

People should have to complete community work in exchange for receiving unemployment benefits.

We should have higher taxes for ………….

Teenagers who are under 18 should be allowed to enter into mobile phone contracts.

We should cut our spending on “………”, so that we can spend more on “…….”.

TOTAL: 54 Marks

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