WRL Lesson Plans / KS4 - The Credit Crunch - 6 lessons / Credit Crunch Lesson Plan 3 - A Local Firm in Trouble

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 they 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

Introduction

Explain that in this lesson the students will be using a fictional case study of a building society in financial trouble.

Can they think of any other businesses that would be affected by the credit crunch?

(Construction, luxury goods, advertising and marketing agencies for example).