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How do individuals and countries use credit and debt? Lesson 5 of 6

GCSE • Finance & The Economy • Core Curriculum

How do individuals and countries use credit and debt?

This lesson is part 5 of a sequence of 6 lessons addressing the key enquiry: What has the UK economy got to do with me?

This lesson introduces students to credit and debt in individual and national contexts. On an individual level, they explore how  we pay for things, the use of credit and debit cards, and factors that affect people’s credit scores. They then consider how the UK government uses credit and debt as part of national spending. There is an opportunity to research different countries’ credit ratings as an extension task.

Students will work towards answering the following questions:
  1. How do we pay for things?
  2. What is credit?
  3. Is all debt bad?
  4. How do credit ratings work at an individual and country level?
  5. Should countries always have to pay back debt?


Return the the scheme of work overview

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