How does the economy work?

In this lesson, we will gain an understanding of what the economy is. We will then explore the key differences between a healthy and recessive economy.

In this lesson, we will explore the different types of taxation that are collected in the UK and how that money is used by the UK government. We shall then analyse the issue of tax avoidance and think about why people should pay tax.

In this lesson, we will learn about how local government is funded. The lesson will then explore how money is spent to support the needs of the local community.

In this lesson, we will learn about the history of the privatisation of previously state-owned services and the impact this has had. We will go on to analyse the debate regarding the benefits of privatisation compared to nationalisation.

In this lesson, we will assess how successfully the government has managed to mitigate risk in society. We will explore this via case studies of recent events, such as the millenium bug and Nightingale hospitals. We will develop our own conclusions regarding the government's performance in relation to these case studies.

In this lesson, we will recap on the features of a healthy economy. We will look at the UK economy in 2020 and we will consider the actions that citizens can take in order to support economic growth.