Algebra involves the use of symbols to represent numbers or quantities and to express relationships, using mathematical models and applications. Knowledge of algebra enables the modelling of a problem conceptually so that it is simpler to solve, before returning the solution to its more complex practical form. The study of algebra is important in developing students’ reasoning skills and logical thought processes, as well as their ability to represent and solve problems.
Measurement involves the application of knowledge, skills and understanding of numbers and geometry to quantify and solve problems in practical situations. Knowledge of measurement enables an understanding of basic daily situations involving rates and ratios, such as speed and the interpretation of maps and plans, effectively in a variety of situations. The study of measurement is important in developing students’ ability to solve problems related to two-dimensional and three-dimensional models and representations and to work effectively with a variety of rates and ratios.
Financial Mathematics involves the application of knowledge, skills and understanding of numbers to earning, spending, investing, saving and borrowing money. Knowledge of financial mathematics enables students to analyse different financial situations, calculate the best options for given circumstances, and solve financial problems. The study of financial mathematics is important in developing students’ ability to make informed financial decisions, to be aware of the consequences of such decisions, and to manage personal financial resources effectively.
Statistical Analysis involves the collection, display, analysis and interpretation of data to identify and communicate key information. Knowledge of statistical analysis enables the careful interpretation of situations and raises awareness of contributing factors when presented with information by third parties, including the possible misrepresentation of information. The study of statistical analysis is important in developing students’ appreciation of how conclusions drawn from data can be used to inform decisions made by groups such as scientific investigators, business people and policy-makers.
Networks involve the graphical representation and modelling of situations as an approach to decision-making processes. Knowledge of networks enables the development of a logical sequence of tasks or a clear understanding of connections between people or items. The study of networks is important in developing students’ ability to interpret a set of connections or sequence of tasks as a concise diagram in order to solve related problems.
source – NSW Education Standards Authority