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Beginners Guide to The Credit Crunch

Age 14-16 (KS4 / GCSE)
Age 16-18 (A-level)

As simple as possible an introduction to how banks operate, how they help the economy function, and what happens in a credit crunch. Basic understanding of loans, interest payments, assets and debt is assumed. Ends with interactive questions to check the learning.



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Published 06 Oct 2008

Contributed by edward upton — Experienced contributor

1 people are following this contributor Average rating: 1 2 3 4 5

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4 reviews

Anonymous

Good introduction to topic marred by silly spelling mistakes.

Useful? Yes / No 1 2 3 4 5

ann jackson - Member

a great help for my citizenship lessons!

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Anonymous

Highly topical, if quite advanced

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Anna Skelton - Experienced contributor

Thanks- very helpful for a non-specialist teacher teaching citizenship!!!!

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Extracts from this resource

The Credit Crunch

1The Credit CrunchHow the economy functions
(and why we rely on credit) Teachable.net. Some rights reserved. http://teachable.net/res.asp?r=17852Learning ObjectivesAt the end of this lesson you should know:
How banks fit into the economy
Why banks stop lending
Definition of a credit crunch
How a credit crunch effects ordinary people
3Banks cannot lend more money than they have (or can borrow)MEGABANKASSETS
Depositors cash
+ Loans from other banks
+ Shareholder fundsLIABILITIES
Business loans
+ Mortgages
+ Personal loans4Key terms you need to knowDEPOSITOR: someone who hands their cash over to a bank for safe keeping.
LOAN: a sum of money that is lent and repaid with interest.
MORTGAGE: a loan from a bank to fund the purchase of a house or flat.
CREDIT: money (or the promise of money) loaned to people or businesses that need it.
5How banks workMEGABANKOrdinary people deposit their savingsBanks borrow money and lend it to people and businesses who will repay these loans with interestOther banks lend money6Why banks stop lendingMEGABANKAnd unemployed people may find

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