WRL Lesson Plans / KS4 - The Credit Crunch - 6 lessons / Credit Crunch Lesson Plan 1 - The Credit Crunch Game

Credit Crunch Resources for Financial Capability

The current financial situation is having an impact around the world and is never far from the headlines. It is therefore important that students have an understanding of the key words and phrases associated with the credit crunch and wider economic well-being.

In this first of a series of six [credit crunch lessons](/lessons/WRL/KS4-The-Credit-Crunch-lesson-plans-worksheets/), students are introduced to the meaning behind the key financial terms and demonstrate their understanding with the class and group activities. Teacher notes, lesson plan and worksheets are included, along with 3 PowerPoint presentations.

Lesson Plan Introduction

In this lesson, students will learn some key financial phrases, for example assets, interest rates, inflation etc. The lesson is broken down into three activities to help create a foundation of understanding for further modules.

Connect the Learning

This module introduces students to the concept of a “credit crunch” and how it may affect us as individuals, communities and as a nation. Connect it to other learning the students may have done in relation to personal finance, business and the world of work.

The Big Picture

Young people have increased access to credit. They need to have an understanding of the wider implications of credit and lending, particularly in relation to changes to the economy.

The Learning Outcomes

Risk

- To understand risk in both positive and negative terms
- To understand the need to manage risk in financial and career terms
- To take risks and learn from mistakes

Economic Understanding

- To develop a better understanding of the economic and business environment
- To gain a better understanding of the functions and uses of money