Exploring Economics and Climate Change Impacts on Marginalized Groups
In this lesson plan, students delve into the relationship between economics and climate change, focusing on the effects on marginalized communities. Through interactive tasks and discussions, they analyze pricing strategies, consider the impact of price hikes on various goods, discuss government schemes like "Eat Out to Help Out," and brainstorm incentives to promote eco-friendly choices. The session culminates in a collaborative activity where students create and present ideas to mitigate the impact of climate change.
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Lesson Plan Two Book and Authors: Jack Meaning, Bank of England Economist and author of Can t We Just Print More Money? Topic Economics Learning Objective: to define economics proximity to climate change and to explore the significant effects on marginalised groups Starter (5 minutes) Match the price to the retailer. On the worksheet there are a series of prices for a bottle of Prime and several retailers. Students are to match the price to the retailer. Challenge task: Ask students to delve into the rationale of the differing prices and how the demand for Prime has happened. The aim is for them to think of demand and how it increases costs. Answers are on the second slide. Lesson Plan 2 #Merky Books x HSBC Futures
Task one (5 minutes) Watch the clip from 8.30 12.45 The task is for students to guess the price increase. There are five images of food and the average price of them in 2022. The aim is for students to either shout out or put their hands up and guess the percentage price increase over the last 12 months. Start a discussion on anything else students can think of that have dramatically risen in price recently (fast food and snacks have been an area that has been hit over the last two years) Lesson Plan 2 #Merky Books x HSBC Futures
Task two (10 minutes) Watch the clip from 12.45 15.24 Eat Out to Help Out? Ask students to discuss the scheme derived by Rishi Sunak in August 2020, asking them to create a mind-map of the positives and negatives of the scheme. The aim is to think of what Jack and Peigh have been discussing about who economics and who the cost of living crisis effects the hardest. Questions to discuss: Did wealthier people need the 50% discount? Where is the money coming from to pay the governments 50%? For people with lower financial literacy, would this scheme benefit them or potentially put them at a financial disadvantage? Lesson Plan 2 #Merky Books x HSBC Futures
Task three (10 minutes) Watch the clip from 15.24 18.30 Managing the impact of climate change. Peigh and Jack mentioned how economics can help us to reverse or at least halt some of the damage from climate change. They used examples such as giving incentives to people with electric cars, higher tax on certain items that are more damaging to the earth to create etc. The task is for students to be entrepreneurs and collaboratively work to create more incentives for people to make better choices. The best way to do this would be a large A2 sheet of paper and having them create a mini presentation for them to present as a group to the class. Plenary (5 minutes) Class debate/show of hands for whose idea/s are the best and why. Question students on their understanding of the ideas. Lesson Plan 2 #Merky Books x HSBC Futures
2. Economics Lesson Plan 2 #Merky Books x HSBC Futures
Match the price to the retailer On your worksheet match the price of the bottle of Prime to the retailer that you think is selling it Challenge task: Why do you think the prices are so different? And what do you think has caused this to happen? Lesson Plan 2 #Merky Books x HSBC Futures
Answers Amazon - 12.99 Asda - 2 eBay - 8 Aldi - 2 Onbuy.com - 6 Premier Store - 8 Best-One - 10 Lesson Plan 2 #Merky Books x HSBC Futures
How much is the price increase from 2022 to 2023? Look at the series of pictures on the following slides and guess the percentage price increase, over the last twelve months Lesson Plan 2 #Merky Books x HSBC Futures
Olive oil 2022 = 3.87 Lesson Plan 2 #Merky Books x HSBC Futures
UP 49% Olive oil 2022 = 3.87 Lesson Plan 2 #Merky Books x HSBC Futures
Crumpets 2022 = 0.78 Lesson Plan 2 #Merky Books x HSBC Futures
UP 27% Crumpets 2022 = 0.78 Lesson Plan 2 #Merky Books x HSBC Futures
Bag of sweets 2022 = 1.19 Lesson Plan 2 #Merky Books x HSBC Futures
UP 21% Bag of sweets 2022 = 1.19 Lesson Plan 2 #Merky Books x HSBC Futures
Cucumber 2022 = 0.55 Lesson Plan 2 #Merky Books x HSBC Futures
UP 52% Cucumber 2022 = 0.55 Lesson Plan 2 #Merky Books x HSBC Futures
Milk 2022 = 0.96 Lesson Plan 2 #Merky Books x HSBC Futures
UP 39% Milk 2022 = 0.96 Lesson Plan 2 #Merky Books x HSBC Futures
Eat Out to Help Out? Eat Out to Help Out was a scheme derived in August 2020 by the then chancellor Rishi Sunak. It gave people 50% off the cost of food and drinks in participating restaurants. Wit the government picking up the bill for other 50%. Draw a mind map for the Eat Out to Help Out scheme and write down any positives and negatives, that you can think of. Challenge task: What type of people was the government trying to target with this scheme? Lesson Plan 2 #Merky Books x HSBC Futures
Become an Entrepreneur Things think about: In groups, your task is to create an idea/ideas for the government to use, as an incentive for people to make better economical choices. Is the idea viable? How much will it cost the government? Will people want to do it? What are the benefits to the people? What are the benefits to the environment? You have ten minutes, to create your poster and then present your ideas to the class Lesson Plan 2 #Merky Books x HSBC Futures
Which idea was the most economically viable? Things think about: Was the idea viable? How much will it cost the government? Will people want to do it? What are the benefits to the people? What are the benefits to the environment? Lesson Plan 2 #Merky Books x HSBC Futures
