The Federal Government has launched its new MoneySmart Teaching Primary Package, aimed at helping young Australian students become more confident, informed and responsible financial consumers.

 

The package was developed by the Australian Securities and Investments Commission (ASIC) through extensive consultation with teachers.

 

Both the primary and secondary packages will be trialled in over 90 schools nationally with an aim to embed consumer and financial literacy in the new Australian Curriculum for students from Foundation through to Year 10.

 

Parliamentary Secretary to the Treasurer, Bernie Ripoll, said the packages were vital to ensure the long-term wellbeing of students and the future success of the country’s economy.

 

"Young people are growing up in a fast-paced consumer society where money is becoming increasingly 'invisible' and where there's a growing range of choice and complexity in consumer and financial products,” Mr Ripoll said.

 

"The MoneySmart Teaching packages provide effective consumer and financial education, empowering young people to face these challenges. It's never too early to be MoneySmart”

 

Professional learning will be provided to at least 6,000 primary and secondary teachers.

 

Minister for School Education, Early Childhood and Youth, the Hon Peter Garrett MP, said the MoneySmart teaching package supports the work done by the Australian Curriculum Assessment and Reporting Authority (ACARA) on a new national economics and business curriculum.

 

"The draft paper, Shape of the Australian Curriculum: Economics and Business, is currently open for public consultation and ACARA will use feedback on the paper to guide the writing of the draft Australian Business and Economics Curriculum later this year," Mr Garrett said.

 

MoneySmart Teaching resources for secondary schools are expected to be launched around December 2012.