Transcript Document

Consumer and Financial Literacy
a vehicle for developing
numeracy in our students
• What is Numeracy and why is it important?
• What is Consumer and Financial Literacy and why is it
important?
• How are the two linked?
What is Numeracy?
Some myths about Numeracy
• Numeracy is the same as maths
• Numeracy is the name used for ‘basic maths’
subjects
• Numeracy is the business of the maths teacher
Some lay views
• Numbers (‘doing sums’, arithmetic)
• The basic maths people need in order to
survive in the real world
• The name for primary school maths
• The name for the ‘vegie’ maths subject in
secondary school
Definition
‘To be numerate is to use mathematics effectively to meet the
general demands of life at home, in paid work, and for
participation in community and civic life. …. In school education,
numeracy is a fundamental component of learning … across all
areas of the curriculum. It involves the disposition to use, in
context, a combination of:
• underpinning mathematical concepts and skills from across the
discipline;
• mathematical thinking and strategies;
• general thinking skills; and
• grounded appreciation of context’.
Report of the Numeracy Education Strategy Development Conference, Numeracy = Everyone's Business (October
1997) adopted by Australian Association of Mathematics Teachers
‘Using Technology to
Enhance Numeracy’ Merrilyn
Goos (University of
Queensland)
Mathematical Knowledge
Skills
Concepts
Estimation
Problem Solving
Personal
and Social
Work
Risk
Contexts
Initiative
Digital
Physical
Flexible Thinking
Representational
Confidence
Dispositions
Citizenship
Tools
Why is Numeracy
important?
‘People without numeracy skills suffered worse
disadvantage in employment than those with
poor literacy skills.’
‘Poor numeracy skills make it difficult to function
effectively in all areas of modern life.’
Bynner and Parsons (1995 & 2005)
Implications for all teachers
All teachers within a school have a role in supporting
their students to:
• apply their mathematics in order to carry out tasks
requiring mathematics
• to ‘make sense’ of their learning area
• critique the use of maths in their learning area.
Identify the numeracy moments
Numeracy
across the
curriculum
Consider whether the students
possess the mathematical skills and
knowledge necessary to access the
learning
YES
Use this numeracy
opportunity to link
to prior learning
NO
Use this numeracy
demand as a chance to
explain new learning. (It
is necessary to learn
the mathematics first.)
What is Consumer and
Financial Literacy?
Definition
Consumer and financial literacy is the
application of knowledge, understandings,
skills and values in consumer and financial
contexts and the related decisions that
impact on self, others, the community and the
environment.
National Consumer and Financial Framework, MCEETYA, 2005
Why is Consumer and
Financial Literacy
important?
The National Consumer and Financial Literacy
Framework rationale
The world of consumers is becoming increasingly complex.
Research indicates that levels of consumer and financial literacy among adults,
parents and young people alike are insufficient to cope with many of these
complexities.
Effective decision making related to consumer behaviours and the management
and evaluation of personal financial matters comes from improved consumer and
financial literacy.
Young people increasingly influence household spending and should understand
the financial consequences of satisfying their needs.
There are economic and social benefits for the whole community of increased
levels of consumer and financial literacy.
In a typical group of 100 teenagers today, at normal retirement
age:
1
8
9
28
54
Will be RICH
Will be INDEPENDENT
Will be WORKING
Will be DEAD
Will be BROKE, DEPENDENT
ON GOV’T OR CHARITY
(Financial Basics Foundation – www.financialbasics.org.au)
Views of young people 1
Research in 2007 of 533 young people aged 12–17 found strong support for financial
literacy education in school.
Topic
Important learning for (%)
Saving
Information about money
Understanding rights and responsibilities
Recognising a scam
Planning for the financial future
Budgeting
Dealing with financial service providers
Managing debt
Dealing with credit cards
Understanding financial language
90%
83%
91%
88%
85%
84%
84%
83%
73%
82%
Source: Financial Literacy: Australians understanding money,
Financial Literacy Foundation, September 2007
Views of young people 2
72% of young people agreed that saving a small amount regularly is the most
effective way of saving but only half of them said they did.
90% were interested in improving their knowledge across a range of money issues,
including budgeting, saving and managing debt.
59% have the attitude of ‘Financially, I like to live for today’ yet 91% think it is
important to learn more about financial language.
64% identified school as where they learn about money management and, of these,
82% found the information useful.
Source: Financial Literacy: Australians understanding money,
Financial Literacy Foundation, September 2007
Consumer and financial literacy dimensions
of learning
Each year level has four dimensions to the content that they are expected to cover:
Knowledge and understanding is about the nature and forms of money, how it is
used and the consequences of consumer decisions.
Competence is the application of consumer and financial knowledge and skills in a
range of changing contexts.
Enterprise is the opportunity to use initiative, build financial capabilities and manage
risk-taking when making consumer and financial decisions.
Responsibility is appropriate consumer and financial decisions that display care for
self, others, the community and the environment.
How are
Consumer and Financial
Literacy
and
Numeracy
linked?
‘Using Technology to
Enhance Numeracy’ Merrilyn
Goos (University of
Queensland)
Mathematical Knowledge
Skills
Concepts
Estimation
Problem Solving
Personal
and Social
Work
Risk
Contexts
Initiative
Digital
Physical
Flexible Thinking
Representational
Confidence
Dispositions
Citizenship
Tools
Personal and social context
• Personal finance
• Personal health – food, exercise, leisure
activities
• Travel
Personal and social context
• Personal finance
Personal and social context
• Personal health
Personal and social context
• Travel
Work context
Citizenship context
$
‘Using Technology to
Enhance Numeracy’ Merrilyn
Goos (University of
Queensland)
Mathematical Knowledge
Skills
Concepts
Estimation
Problem Solving
Personal
and Social
Work
Risk
Contexts
Initiative
Digital
Physical
Flexible Thinking
Representational
Confidence
Dispositions
Citizenship
Tools
Mathematical knowledge
Tools
Dispositions
THE END