Global Trade Choices

Overview

This lesson explores how Australia’s participation in global trade changes over time and why governments and businesses pursue globalisation despite trade-offs. Students investigate impacts on jobs, prices and living standards, then argue for a balanced policy approach using simple economic reasoning.

Learning intentions

• Students will explain how global trade can create opportunities and costs for Australia.
• Students will describe how currency exchange rates relate to trade and the cost of imports and exports.
• Students will evaluate the costs and benefits of globalisation from different perspectives (households, businesses, workers, and the government).
• Students will use economic reasoning to propose a suitable policy response.

Success criteria

• I can identify at least two benefits of global trade for Australia and support them with an example.
• I can identify at least two costs of globalisation and explain who is affected.
• I can link an exchange-rate change to import/export prices using cause-and-effect language.
• I can present a balanced recommendation and justify it using costs vs benefits and ethical considerations.

Curriculum links

• Economic literacy: students examine changing patterns of Australia’s international trade and costs and benefits of globalisation.
• Economic literacy: students analyse how costs and benefits influence decisions about global trade.
• Economic literacy: students consider ethical considerations involved in global trade, including offshoring and employment implications.
• Economic literacy: students use currency exchange rate reasoning to explain impacts on trade.

Lesson structure (50 minutes)

1. 0–5 min · Hook (quick poll). Teacher shows three statements on the board: “Global trade always improves living standards”, “A stronger Australian dollar makes imports cheaper”, “Offshoring always helps the economy”—students vote with hands and give one-word reasoning.
2. 5–12 min · Mini input: what globalisation changes. Teacher explains, with a localised example (e.g., mobile phones, clothing, food), how global supply chains connect Australia to world markets and how impacts can differ across groups; students complete a two-column note: “Possible benefits” vs “Possible costs”.
3. 12–20 min · Source analysis (currency & trade). Teacher gives a short dataset card (teacher-prepared) showing the Australian dollar moving up and down over several points in time and prompts students to predict effects using stems: “When the $A rises… exports become… / imports become…”. Students pair-check predictions and refine one line of reasoning.
4. 20–32 min · Investigation: cost–benefit sorting. Teacher distributes scenario cards (one set per group of 4–5) describing a global trade or globalisation event, such as: a tariff removal, an increase in imports, a business offshoring production, or a new export opportunity. Students sort each scenario into: benefits, costs, and “who gains/loses”, then identify one ethical consideration.
5. 32–42 min · Structured debate (balanced claim). Teacher runs a “Claim–Evidence–Cost–Benefit” debate. Each group presents a 30–40 second claim about whether globalisation should be encouraged in their scenario, then answers a challenge question chosen from the board: “What happens to workers?” “What happens to prices?” “What should government/business do, and why?”.
6. 42–48 min · Teacher modelling: recommendation writing. Teacher models a short recommendation paragraph using a template: Context → Balanced judgement → Reason (costs/benefits) → Ethical consideration → Suggested action. Students underline the parts they should include in their own writing.
7. 48–50 min · Exit ticket. Students complete an exit ticket: “One benefit of global trade for Australia is… One cost/ethical issue is… A suitable response could be… because…”

Resources

• Board/slide or printed statements for quick poll
• Teacher-prepared currency and trade reasoning card (simple, small table/graph with $A up/down points and prompts)
• Scenario cards (8–10 cards total) depicting trade/globalisation events and impacts
• Group sorting sheets: Benefits / Costs / Who is affected / Ethical consideration
• Debating prompt cards (3–4 challenge questions)
• Exit ticket slips or digital form
• Timer visible to class

Assessment

• Formative checks during:
• Hook poll: listening for misconceptions and clarifying in feedback
• Currency reasoning activity: teacher circulates and checks cause-and-effect explanations
• Scenario sorting: quick teacher checks of students’ “who gains/loses” links
• Exit ticket (summative within the lesson): evaluate whether students provide balanced costs/benefits reasoning and a justified response.

Differentiation

• Support:
• Provide sentence starters for explanations (e.g., “A stronger $A tends to…” “This affects workers because…” “An ethical concern is…”).
• Offer a simplified cause-and-effect bank for exchange-rate links (imports cheaper vs exports more expensive).
• Extension:
• Challenge advanced students to include an additional perspective (e.g., small business vs large firm, consumers vs taxpayers) and specify a trade-off in their recommendation.
• EAL/SEN:
• Use visual organisers (icons for benefits, costs, and ethical issues) and keep scenario texts brief with key details highlighted.
• Allow students to use bullet points in the recommendation paragraph before finalising an exit ticket sentence.