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KS3 - Economic Ideas - 4 lessons
8 Resources available for download in this module
Students are introduced to basic economic ideas including trade, currency and taxation.
Financial capability is an essential learning outcome at key stage 3 and key stage 4. These teaching resources include lesson plans, worksheets and structured actvites that will introduce the concept of the economy.
Below are the lessons in this topic. Click ‘View these lessons’ to download resources
Tax
In this lesson students learn the basics about the tax they will pay as adults, and what it is spent on.
Economic Ideas Teaching Resources
As your students start to become financially active, it is important that they have an understanding of the broader economy. These lesson plans teach pupils about some of the basics of money.
Lesson 1 –Trade
By looking at the origins of trade, pupils participate in a group activity to realise the benefits of trading.
Lesson 2 – Money
We then introduce the concept of money and how this affected trade. Students must design their own currency in this activity.
Lesson 3 – Import and Export
In lesson 3, students learn the meaning of import and export in relation to the economy and then work in pairs to study this further.
Lesson 4 – Tax
Students are likely to have hear of tax, but do they know the different types, particularly those that will affect them as they move into work. There is also an activity to help them understand a typical pay slip, exploring national insurance and tax codes etc.