• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Unit F282 - Sample scheme of work and lesson plan booklet
 

Unit F282 - Sample scheme of work and lesson plan booklet

on

  • 2,342 views

 

Statistics

Views

Total Views
2,342
Views on SlideShare
2,342
Embed Views
0

Actions

Likes
0
Downloads
16
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Microsoft Word

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Unit F282 - Sample scheme of work and lesson plan booklet Unit F282 - Sample scheme of work and lesson plan booklet Document Transcript

    • Sample Schemes of Work and Lesson Plans Business, Administration and Finance Level 3 OCR Business, Administration and Finance Level 3: H844 Unit F282: Managing Personal Finances This Support Material booklet is designed to accompany the OCR Business, Administration and Finance Diploma specification for teaching from September 2008. © OCR 2009
    • Contents Contents................................................................................................................................2 OCR Business, Administration and Finance Diploma Level 3 Unit F282: Managing Personal Finances...............................................................................................................3 OCR Business, Administration and Finance Diploma Level 3 Unit F282: Managing Personal Finances...............................................................................................................7 OCR Business, Administration and Finance Diploma Level 3 Unit F282: Managing Personal Finances...............................................................................................................9 OCR Business, Administration and Finance Diploma Level 3 Unit F282: Managing Personal Finances.............................................................................................................11 OCR Business, Administration and Finance Diploma Level 3 Unit F282: Managing Personal Finances.............................................................................................................12 OCR Business, Administration and Finance Diploma Level 3 Unit F282: Managing Personal Finances.............................................................................................................14 OCR Business, Administration and Finance Diploma Level 3 Unit F282: Managing Personal Finances.............................................................................................................15 OCR Business, Administration and Finance Diploma Level 3 Unit F282: Managing Personal Finances.............................................................................................................17 OCR Business, Administration and Finance Diploma Level 3 Unit F282: Managing Personal Finances.............................................................................................................19 OCR Business, Administration and Finance Diploma Level 3 Unit F282: Managing Personal Finances.............................................................................................................20 2 of 23 Business, Administration and Finance Diploma
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 21 HOURS TOPIC FEATURES OF FINANCIAL SERVICES MARKET (LEARNING OUTCOME 1: AC 1.1, 1.2, 1.3) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES Features of money in all its forms • Create mind maps of the types and (legal) • Could have groups working on one or the sources of money other then feeding back using their mind • Group discussion developing an map to support understanding of the different types of money (ie when would you use travellers cheques? Why would you use these in preference to foreign currency, or using credit card abroad? What is the difference • An internet search will provide numerous between a credit card and a debit card?) resources to guide learners through the Useful to draw on learners personal different methods of taking money abroad experiences as appropriate • Talk from teacher about the characteristics and attributes of money, and the purposes that money serves in society • In small groups, learners prepare material for level 1 or 2 diploma learners to introduce • Level 3 learners could teach the lesson for them to types, sources, characteristics and level 1 and 2 learners, making use of a quiz purposes of money. (AL) to evaluate the impact of their delivery/the = Innovative teaching idea = ICT opportunity Business, Administration and Finance Diploma 3 of 23
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 21 HOURS TOPIC FEATURES OF FINANCIAL SERVICES MARKET (LEARNING OUTCOME 1: AC 1.1, 1.2, 1.3) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES quality of their materials Identifying the providers • With the aid of stimulus material such as • Talk from financial providers about what • This task could be extended to add detailed recorded TV adverts, adverts from they offer could be included here or in a consideration of the type of advice given by newspapers or financial publications, later section. (EE) these organisations thus covering some of learners to make 2 lists – one of providers assessment criteria 3.1 of financial products/services and the other of providers of advice/information about financial products/services. (AL) • Matching activity to link providers with their key role, and where appropriate named examples of such providers • Focus on organisations providing advice and information for customers − Financial advisers (independent, tied = Innovative teaching idea = ICT opportunity 4 of 23 Business, Administration and Finance Diploma
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 21 HOURS TOPIC FEATURES OF FINANCIAL SERVICES MARKET (LEARNING OUTCOME 1: AC 1.1, 1.2, 1.3) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES and multi tied) − Citizens Advice Bureau − National Debtline − Consumer Credit Counselling Service − Financial Ombudsman − Financial Services Authority • Display material could be evident at parents evenings if appropriate, offering support to − Moneysavingexpert.com the local community − Financial sections in broadsheets • Learners could also produce ‘podcasts’ of • In groups, learners to research a particular question and answer sessions, typical organisation, then produce a display and phone in discussions or basic information information leaflet to inform people of the broadcasts which could be made available help available when making financial within school and to the wider community = Innovative teaching idea = ICT opportunity Business, Administration and Finance Diploma 5 of 23
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 21 HOURS TOPIC FEATURES OF FINANCIAL SERVICES MARKET (LEARNING OUTCOME 1: AC 1.1, 1.2, 1.3) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES decisions, and when in financial difficulty. (AL) • Learners to share understanding through exchange and discussion of leaflets or through presentations to each other allowing all learners to take note of all sources of info/advice available = Innovative teaching idea = ICT opportunity 6 of 23 Business, Administration and Finance Diploma
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 21 HOURS TOPIC FEATURES OF FINANCIAL SERVICES MARKET (LEARNING OUTCOME 1: AC 1.1, 1.2, 1.3) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES Descriptions of the products or • Starter activity such as anagrams, word • Representatives of local financial institutions • Financial products/services to be covered services search or key word bingo to introduce could give a talk to young people on the role are those listed in the amplification of financial products and services. Discuss of their organisation and financial assessment criteria 1.3 understanding of each type of product, products/services offered. (EE) correcting misunderstandings/filling in gaps in knowledge as required • This activity could be extended to consider also the benefits of the financial product or • Questionnaire to determine attitude towards • Attitude to risk questionnaire/review of view service and the advice offered by the risk. Use examples of financial products to towards risk in everyday life. Examples of provider. This would therefore cover part of demonstrate the correlation between risk risky jobs which command high wages, high assessment criteria 3.1 and 3.2 and reward. (AL) risk investments which, if successful, earn a • Complete worksheet to develop basic high reward understanding of returns on investment (including interest rates). Discuss reasons for differences in interest rates on current • Worksheet – short answer questions accounts, savings accounts and longer term making use of product literature investments such as length of time money is invested for, limitations on withdrawals, risk to customer of needing funds in mean time = Innovative teaching idea = ICT opportunity Business, Administration and Finance Diploma 7 of 23
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 21 HOURS TOPIC FEATURES OF FINANCIAL SERVICES MARKET (LEARNING OUTCOME 1: AC 1.1, 1.2, 1.3) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES • Provide each group with material produced • Game could simply be replaced by fact by financial providers giving key information cards produced on each financial product or on products or services. In groups, learners service being considered. Scenario could be to produce a game which enables people to to issue to all young people to help develop gain understanding of: their awareness of the features of the range of financial products and services available − Financial product or service − Providers − Risks − Rewards (AL) = Innovative teaching idea = ICT opportunity 8 of 23 Business, Administration and Finance Diploma
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED FACTORS AFFECTING PERSONAL FINANCE AND FINANCIAL PLANNING (LEARNING OUTCOME 2: TEACHING 10 HOURS TOPIC AC 2.1, 2.2) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES Factors affecting personal finance • Write on to a time line (provided) the • A range of industry produced resources link • Depending on delivery pattern, planning and financial planning financial needs/events at different stages of financial products and services to stages in and/or research may need to be done at end a person’s life. (AL) life – these could be used as the basis for of previous session, enabling feedback of • Case studies to prompt discussion about discussion findings to be presented to the group attitudes towards money and financial • Attitude to money questionnaire • Customer personas created should draw on services. Questionnaire to investigate the factors affecting attitude to money and personal attitude towards money financial services listed in amplification for • Learners plan and carry out research with 2.1 own family/friends into attitudes towards • This activity could be extended to include an financial products/services. (AL) in depth assessment of how specific • Small group activity – Recommend products could meet the needs of each • Case studies giving information regarding appropriate financial products or services to client. The assessment criteria to be used personal circumstances, information on 2 given customers, based on information are those listed within the amplification of selected financial products and services provided about their personal circumstances assessment criteria 3.3 from which the learner can select and and attitude towards money. Justify recommend products services selected. (AL) • Explain decisions to rest of class and discuss = Innovative teaching idea = ICT opportunity Business, Administration and Finance Diploma 9 of 23
    • Sample Diploma Scheme of Work = Innovative teaching idea = ICT opportunity 10 of 23 Business, Administration and Finance Diploma
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED FACTORS AFFECTING PERSONAL FINANCE AND FINANCIAL PLANNING (LEARNING OUTCOME 2: TEACHING 10 HOURS TOPIC AC 2.1, 2.2) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES Economic issues • Discuss headlines presenting snapshot • Diverse headlines from newspapers or situations for exchange rates, interest rates internet stories and inflation • Presentation by teacher explaining the • Presentation and any accompanying notes. impact of changes in each variable on a Commercially produced information range of products and services • Practical challenges • Issue scenarios to visualise impact of specific changes on loans, savings/investments and currency exchange thus developing understanding of the mechanics of each • Identify products or services most affected by changes in each variable • Analyse impact of uncertainty in each area • Case studies/”people off the street” to on decision making process, focussing on interview about views on uncertainty specific case studies. (AL) = Innovative teaching idea = ICT opportunity Business, Administration and Finance Diploma 11 of 23
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 10 HOURS TOPIC FACTORS INFORMING DECISION MAKING (LEARNING OUTCOME 3: AC 3.1, 3.2, 3.3) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES Types of advice available • Provide words which could describe advice (honest, reliable, informed, accurate, problem solving, biased, etc). Rank words in order of importance when considering sources of advice regarding finances • Learners rank possible sources of advice – friends, family member who is employee of a financial provider, expert in stocks and shares, Citizens Advice Bureau, Customer service advisor at Bank, financial advice website. Consider impartiality, reliability, practical support and knowledge • Review providers of financial products and services covered in learning outcome 1. • Leaflets, internet, speakers from local Use information provided in financial providers, newspaper/magazine leaflets/websites, alongside speakers/online advice. (EE) mentors from local financial providers to produce a “Where to seek help” information leaflet explaining the type of advice = Innovative teaching idea = ICT opportunity 12 of 23 Business, Administration and Finance Diploma
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 10 HOURS TOPIC FACTORS INFORMING DECISION MAKING (LEARNING OUTCOME 3: AC 3.1, 3.2, 3.3) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES available from each provider. (AL) = Innovative teaching idea = ICT opportunity Business, Administration and Finance Diploma 13 of 23
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 10 HOURS TOPIC FACTORS INFORMING DECISION MAKING (LEARNING OUTCOME 3: AC 3.1, 3.2, 3.3) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES Benefits of financial products and • Review existing level of knowledge of • Information could be in leaflet form or from services financial products and services, providers the website but should be real in order to and relative risk and reward (as covered in introduce the complexities of financial AC 1.3) in a quiz information • Provide information about a range of products from a wide range of providers, supported by best buy information from newspapers and financial magazines. Using the list of benefits given in the amplification of 3.2, identify which products/services would offer these benefits. Discuss the extent to which each might meet them. Produce display work identifying the benefits to be gained. (AL) = Innovative teaching idea = ICT opportunity 14 of 23 Business, Administration and Finance Diploma
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 10 HOURS TOPIC FACTORS INFORMING DECISION MAKING (LEARNING OUTCOME 3: AC 3.1, 3.2, 3.3) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES Meeting needs with financial • Pair activity – use literature provided to • As well as literature direct from financial • This task should draw together all work done products and services – learners identify detail in the agreements for a range providers, advice from money management previously in this unit. Information pack of financial products and services. Raise websites or from the financial press can containing details of a range of products and as financial advisors awareness of issues such as arrangement alert learners to limitations of financial services to be used, ensuring that all factors fees for mortgages, penalties for withdrawal products and services listed in amplification of assessment criteria from long term investments, special offer • Short answer questions forcing reading of 3.3 can be discussed. Several types of each interest rates for a short periods of time, the ‘small print’ product or service should be included thus availability of payment protection insurance, encouraging learners to make a positive opportunities for online monitoring/changing selection of the product which will meet the of accounts, security/identification needed specified needs. Same literature as in the when setting up accounts, legal features of previous task could be used allowing financial contracts – ‘the small print’. Short learners to make use of familiarity already answer questions requiring careful use of developed. To make more challenging, the literature will enhance familiarity with the learners could be presented with new more technical issues required at level 3. information (perhaps from alternative (AL) Could be supported by talk from local providers) thus having to apply the providers. (EE) knowledge/understanding previously gained to identify key information = Innovative teaching idea = ICT opportunity Business, Administration and Finance Diploma 15 of 23
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 10 HOURS TOPIC FACTORS INFORMING DECISION MAKING (LEARNING OUTCOME 3: AC 3.1, 3.2, 3.3) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES • Main activity – Adults unknown to learners • In addition by this point the pre release to outline their financial situation and their material for the case study will be in school needs. Use questioning to gather further so should be discussed with students information about attitudes, and benefits required. Time could then be given for learners to re examine financial information provided in order to explain the extent to which a number of similar financial products match the exact requirements. Full justification to be given, drawing on all previous info covered = Innovative teaching idea = ICT opportunity 16 of 23 Business, Administration and Finance Diploma
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 9 HOURS TOPIC PLANNING FOR THE FUTURE (LEARNING OUTCOME 4: AC 4.1) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES Plan how to manage financial • In pairs, make a list of all categories of • Student guides/information from banks • Various resources are available to support needs in the short and medium income and expenditure as a student at (leaflets or talks) could support this budgeting both generally and at specific life university. Prioritise expenditures consideration. (EE) stages; these could be used in this section term, supporting conclusions • Investigate what the financial position is of work likely to be – fees, loans, potential for earnings for part time job. Estimate amount to be allocated to each area of spending thus creating a weekly budget. (AL) • Introduce changing circumstances necessitating a revision of the plan, eg fees go up, you recruit an extra house mate so rental costs fall, an emergency occurs • Carry out a similar activity for different life • Resources to support investigation of stages, identifying financial goals, differing financial needs throughout the necessary contingencies, changing priorities stages of life are widely available. Much and necessary revisions of plan. (AL) greater flexibility here for changing • Note in learning log the immediate actions circumstances to be taken in order to begin preparation for = Innovative teaching idea = ICT opportunity Business, Administration and Finance Diploma 17 of 23
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 9 HOURS TOPIC PLANNING FOR THE FUTURE (LEARNING OUTCOME 4: AC 4.1) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES university or employment. (EL) = Innovative teaching idea = ICT opportunity 18 of 23 Business, Administration and Finance Diploma
    • Sample Diploma Scheme of Work OCR BUSINESS, ADMINISTRATION AND FINANCE DIPLOMA LEVEL 3 UNIT F282: MANAGING PERSONAL FINANCES SUGGESTED TEACHING 9 HOURS TOPIC PLANNING FOR THE FUTURE (LEARNING OUTCOME 4: AC 4.1) TIME SUGGESTED TEACHING AND TOPIC OUTLINE SUGGESTED RESOURCES POINTS TO NOTE HOMEWORK ACTIVITIES 8 hours remain unallocated to be used for focussed interrogation of pre release case study. These could happen in a block, or be spread across related areas of study within the unit. Students should be encouraged to familiarise themselves with the case study, using their knowledge to consider a range of products and providers before making an informed decision. External assessment – 2 hours Case study material should be incorporated into lessons as appropriate on its arrival in school. = Innovative teaching idea = ICT opportunity Business, Administration and Finance Diploma 19 of 23
    • Sample Diploma Lesson Plan OCR Business, Administration and Finance Diploma Level 3 Unit F282: Managing Personal Finances Effect of Economic Influences on Personal Finance and Financial Planning OCR recognises that the teaching of this qualification will vary greatly from school to school and from teacher to teacher. With that in mind, this lesson plan is offered as a possible approach but will be subject to modifications by the individual teacher. These activities take a block of 4 hours. This could be completed in one day (split by breaks) or over a series of days as timetable dictates. Learning Objectives for the Lesson Objective 1 Learners understand what is meant by exchange rates, interest rates and the stock market. Objective 2 An explanation can be given of the impact of a change in each of these variables. Objective 3 Learners can analyse the impact that uncertainty regarding these variables can have on personal finance and financial planning. Recap of Previous Experience and Prior Knowledge • Learners have been introduced to factors affecting attitudes to financial products and services: − examples of financial products and services − providers of financial products and services − attitudes towards money, and other financial products and services. Content Time Content 10 minutes Show a range of current headlines regarding changes in these variables. Learners to share first impressions and begin discussion of the potential impact of such factors. 15 minutes Presentation demonstrating the impact of fluctuations in foreign currency 20 of 23 Business, Administration and Finance Diploma
    • Sample Diploma Lesson Plan exchange. Consider also sources of information and variations according to provider. 35 minutes Practical challenges to investigate the impact of exchange rate fluctuations. • Investigate different rates offered by different providers located in different places (eg the high street, the airport). Business, Administration and Finance Diploma 21 of 23
    • Sample Diploma Lesson Plan Time Content • Use currency converter to practice changing one currency into another; by converting sterling to different currencies the impact of different exchange rates can be demonstrated. • Compare costs of holidays and things bought on holiday before and after a change in the exchange rate. 10 minutes Group discussion of answers. 15 minutes • Presentation demonstrating the impact of fluctuations in interest rates. Discuss different types of exchange rate. Compare exchange rates on different products (current accounts, savings accounts, long term investments, short term loans, long term loans, credit cards, store cards etc). 35 minutes Practical challenges to investigate the impact of interest rate fluctuations. • Use loan calculators to investigate the impact of different interest rates; ensure that size and length of loan are kept constant to isolate the impact of interest rate changes. • Calculate the interest earned during the first month on ₤100 placed in (a) a current account and (b) an investment account/savings account. • Compare interest rates across different payment methods – credit cards, loans, store cards. Explain how differences in the exchange rate would contribute to your choice of financing methods. Consider other factors that would also contribute to the decision. 10 minutes • Group discussion of answers. 15 minutes Presentation demonstrating share price fluctuations. Compare fluctuations for a range of companies with the progress of the FTSE 100. Identify methods of holding shares (in individual companies or as part of a portfolio of investment). 35 minutes Practical challenges to investigate the impact of share price fluctuations. • Provide share price information for the same company shares over a period of time. On issue of starting price learners to purchase their portfolio. Compare value of portfolio as individual share prices change. • Identify range of products available which include stocks and shares. 10 minutes Group discussion of answers. 10 minutes • Learners to identify the financial products and services likely to be affected by changes in each of these variables – Have all financial products/services written on small pieces of paper. Learners to fix around exchange rates, interest rates or stock market valuation to identify the factor they perceive to be most significant. They should be able to explain the reasons for each placing. 20 minutes Learners to develop rigour of analysis – introduce three “people off the street”. Individuals should be diverse in terms of age, employment status, level of income/wealth and attitude towards risk. Each should be considering a specific financial product/service likely to be affected by changing interest rates, exchange rates or stock market values. 22 of 23 Business, Administration and Finance Diploma
    • Sample Diploma Lesson Plan Time Content 20 minutes After reading case study information/discussing with individuals their situation learners should sum up the impact that a change in the appropriate variable would have and identify the likely impact on the financial decision making process. For example, if an individual were considering a loan, and interest rates went up, depending on their personal preference they would either change their plans and not take a loan, or amend their plans, perhaps changing loan amount or loan period. 15 minutes Learner presentations to group introducing the individual and their financial needs; explaining and justifying responses to a change in economic variables. Consolidation Time Content 5 minutes Teacher reads out a description of brief scenarios, considering a financial product and a specific change in one of the three variables. Learners to identify whether the change would be (a) favourable (b) unfavourable or (c) would have no impact at all. Homework Write in learning log personal response to uncertainty in the financial markets. Begin to form views on attitude towards risk. Business, Administration and Finance Diploma 23 of 23