The Bank of England has launched a free educational resource – econoME – which explains how the economy affects people’s lives and equips 11-16 year-olds with some of the skills they need to make important decisions.
The econoME programme will give young people greater economic and financial awareness, equipping them with the skills to make more informed decisions about personal financial choices. The lessons cover the economic factors that influence personal decisions, how to make informed choices and how those decisions influence the economy. The materials also explain how the different components of the economy work together and the Bank of England’s role in the system.
The econoME materials are free for teachers to download and do not require a formal training in economics. The resources were produced in collaboration with educational experts and link to all UK national curricula for PSHE, Citizenship, and key employability skills. The lessons have been accredited by the Personal, Social and Health Economic (PSHE) Association and awarded the Financial Education Quality Mark by Young Money.
The econoME programme
The econoME programme includes:
- Three pre-written lesson plans
- Three editable PowerPoint presentations
- Interactive activities and video
- A handy glossary of terms
- A colourful visual guide to the economy
Mark Carney, Governor of the Bank of England said:
The Bank is working to de-mystify economics and make it accessible to young people across the country. A better understanding of basic economic concepts can help young people make better personal financial choices, broaden career interests and improve their understanding of the world around them. Ultimately, a familiarity with economics broadens career options and will promote greater diversity in business, finance and public service, and with it result in better decisions and more inclusive growth.
We hope that teachers will embrace the resources that their colleagues have helped create to educate and inspire young people across the UK.”
Jonathan Baggaley, PSHE Association Chief Executive:
The Bank of England’s econoME resource is a perfect fit for the PSHE curriculum given its focus on supporting young people to manage risk and make informed decisions, understand what influences their decisions and to be critical consumers. The benefits of this education to individuals and to the wider economy are clear and best practice resources such as econoME provide teachers with the tools to deliver high quality lessons.”
The full set of resources can be downloaded, including a video guide, for free here