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EWS

sixth form

induction

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FINANCIAL STUDIES

INDUCTION LESSON

 

OBJECTIVES

  • To describe the key features of financial services products for borrowing.

  • Analyse the key features of the costs of borrowing

  • Evaluate lifelong financial planning.

 

OUTLINE

  • Topic 6 Borrowing products.

  • Analysis of the implication of low loan rates.

  • Different types of loans.

  • Borrowing mini presentations.

  • Borrowing exam style question

 

 

 

 

YOUR TASK

Identify how the way consumers use money as a medium to buy goods has changed in the past 20 years.

 

Include a timeline, on this timeline include key dates when new ways to pay were introduced or phased out. Complete on A3 paper do not use computers.

 

Explain different payment methods, you should be including at least 10. Each needs to be explained in detail. Presentation should be as a table, you should be able to make comparisons.

 

Evaluate how consumers will pay for goods in the next 10 years. This is an essay question, this essay should be 1500 words, you will need to conduct independent research to support your findings.

 

USEFUL RESOURCES TO COMPLETE THIS TASK:

Useful resources to support the completion of this task:

www.bankofengland.co.uk

www.bbc.co.uk/news/business

Bank websites.

 

OTHER PREPARATORY WORK:

Students should be aware of the financial stories in the media. http://www.bbc.co.uk/news/business 

 

On starting the course students should know and understand the current rate of inflation and the bank of england base rate.

 

Students should be reading the money sections of the broadsheets (Saturday and Sunday)

 

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Mr Couzens