A teenager finds out the role the cash in his pocket plays in the global economy. He discovers how the Bank of England sets interest rates, how banks make money by lending, what a recession is and what caused the 2007 financial crisis.
- This clip is from:
- First broadcast:
- 16 March 2011
The clip could be used to explore the benefits and risks of saving and borrowing, especially the concepts of 'good and bad' debt. Pupils could investigate the implications of interest, especially compound interest and the consequences of failing to repay debt. Pupils could debate whether taxpayers' money should be used to support failing banks and investigate the consequences of letting banks collapse.