The Melbourne Declaration on Educational Goals for Young Australians (Melbourne Declaration) acknowledges that school education in the 21st century should equip young people with ‘the knowledge, understanding, skills and values to take advantage of opportunity and to face the challenges of this era with confidence’. Under the Melbourne Declaration (which sets the direction for Australian schooling for the next 10 years), the Australian Government and all state and territory governments have committed to work collaboratively so that:
Australian schooling promotes equity and excellence (Goal 1)
all young Australians become successful learners; confident and creative individuals; and active and informed citizens (Goal 2).
Consumer and financial education will support the attainment of these educational goals by empowering students with the knowledge, skills, values and behaviours needed to make responsible and informed consumer and financial decisions, vital to effectively managing life and work in the 21st century.
In particular, consumer and financial education makes a significant contribution to Goal 2 of the Melbourne Declaration. Consumer and financial literacy encompasses both knowing about money matters and being able to apply that knowledge effectively across a range of contexts, including in online and digital environments. Students develop important knowledge, skills, values and behaviours that enable them to:
be enterprising, show initiative and use their creative abilities
embrace opportunities, make rational and informed decisions about their own lives and accept responsibility for their own actions
be well-prepared for their potential life roles as family, community and workforce members
become responsible global and local citizens.15
With the development of the Australian Curriculum, there are renewed opportunities to engage students in consumer and financial education in and across specific disciplines, as well as through the general capabilities and the cross-curriculum priorities.16 Appendix 1 provides a general discussion of the connections between consumer and financial education and the Australian Curriculum’s general capabilities and cross-curriculum priorities. The endorsed MCEECDYA National Consumer and Financial Literacy Framework (2011) is being used to inform the development of a complete MoneySmart Teacher Package (the Package) linked to the phased development of the Australian Curriculum. The Package will include professional learning (online and PDF), units of work, guidance and support for parents and other online resources. The Package linked to Phases 1 and 2 of the Australian Curriculum will be trialled in 2012/13 and available on the MoneySmart Teaching website from mid 2013.
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15
Melbourne Declaration on Educational Goals for Young Australians, (MCEETYA, 2008), pages 8 and 9.
16
See www.australiancurriculum.edu.au/ for information about the role of the general capabilities and the cross-curriculum priorities in the Australian Curriculum.
