11–12Mathematics Standard 11–12 Syllabus

Recognise and use language that relates to money

Recognise the variety of ways that payments can be made or received

Compare and contrast different ways of paying or being paid

Represent money amounts in numerals and words

Recognise, match, sort, order and use Australian currency

Communicate ways to keep money safe

Recognise that different countries have used different forms of currency throughout history

Recognise that other countries use different currencies

Investigate currencies of other countries

Convert between currencies of countries

Recognise typical decimal notation used to express money amounts

Interpret calculator and digital displays involving decimal answers in the context of money

Calculate using money

Estimate and calculate with money to determine whether an answer is reasonable

Round money amounts to the nearest increment of 5 cents, 10 cents, dollar or 5 dollars

Solve problems involving money

Recognise and use language that relates to employment

Describe different types of income

Calculate different types of income in real-world contexts

Examine a timesheet and calculate wages for the time period covered

Interpret pay advice notifications

Calculate total income for a given time period, taking into account regular pay, overtime pay and other allowances

Recognise that income is subject to taxation and the need to submit a tax return annually

Recognise and respond to language that relates to taxation

Recognise that there may be other deductions taken from a person’s income

Calculate tax and other deductions and use this to calculate net earnings

Examine the information needed to complete a tax return and the need for record keeping

Recognise that money is a limited resource when budgeting and spending

Distinguish between goods and services

Compare goods and services as wants and needs

Prioritise purchases

Identify the goods and services tax (GST) component of purchased goods and services

Compare the price of goods or services by arranging them from the least expensive to the most expensive

Calculate costs and change on purchases

Calculate costs involving rates

Determine the best buy from two or more options, considering a range of factors

Compare costs of goods and services online with costs in store

Calculate discounts on goods and services including those involving percentages

Calculate the GST payable on items

Examine consumer rights when spending money

Investigate agencies that can assist with consumer issues

Recognise that money can be spent online

Identify safe ways to pay for goods online

Recognise potential dangers and scams when using money online

Recognise that there may be hidden costs when purchasing goods online

Examine consumer rights when spending money online

Recognise and use language that relates to budgeting

Review a budget with income and expenditure

Recognise the need to balance income and expenditure to manage expenses and debt

Examine and interpret household bills, including understanding commonly used terms and different ways of paying

Develop a budget

Develop a regular payment plan for an associated cost

Recognise and use language related to saving and financial transactions

Recognise a range of banks and financial institutions

Identify and compare the different types of bank accounts

Use strategies to manage bank accounts

Outline the advantages of saving money

Use online calculators to calculate interest earned on savings for different periods and rates

Recognise and use language related to borrowing

Identify different ways of purchasing goods or services

Outline the reasons that someone might need or want to borrow money

Identify and compare different types of borrowing

Explain advantages and disadvantages of borrowing money

Recognise the requirement to repay borrowed money and the extra costs

Examine different aspects of borrowing, including using a loan calculator and other digital tools

Identify agencies that support financial planning decisions

Identify the difference between debit and credit cards

Compare and contrast debit and credit cards and implications of their use

Investigate interest earned or charged on different accounts

Identify superannuation as a form of saving and investing for retirement

Investigate getting a tax file number (TFN)

Recognise the types of insurance available and explain the benefits and costs of various insurances

Recognise that investment can be a way to save and increase wealth

Describe common types of investment

Outline the advantages, difficulties and risks in making investments