Year 10 Economics have started a Financial Literacy Unit on Saving and Borrowing this week.

To establish the students' risk profiles we played a game where they could “save" in a range of options from low to high risk and their return was determined by the roll of a dice. It was interesting to see what risks students were willing to take to try and get a higher return - from Term Deposits to Oil Exploration Shares to Gambling.

Needless to say not all students ended up with their initial deposit of money (M&Ms) at the end of the game. Over the unit we will be teaching students how to evaluate costs and benefits to make better informed decisions about saving and borrowing choices.