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Level 2 Certificate in Financial Education

This course has been designed to prepare students to take their place in society as responsible citizens by providing them with the skills and knowledge to manage their money well and make sound financial decisions. The course aims to provide students with an understanding of the wider realm of public finance and the economy.

Financial-Education - Curriculum and Assessment Map.docx

On this course, the following 3 units are studied over 1 year:

Unit 1: Finance, the individual and society

In this unit, students will understand the role of the citizen in the UK, the values held by citizens, and the impact they have on personal finance. The unit will also provide students with an understanding of the contribution of an individual to the economy of a country and the impact of external factors on personal financial plans.

Unit 2: Practices of Managing Money

In this unit, students will understand the concept of financial planning and personal financial budgets. The unit will also provide students with an understanding of the impact on both the individual and society of spending and borrowing.

Unit 3: Financial Capability, Work and Enterprise

This unit has been designed to provide learners with and understanding of how businesses manage money and the relationship between personal money management and business money management. The unit will also provide knowledge on the inter-relationship between the individual and business.

The course is assessed by 3 exams containing multiple choice questions, written responses and responses to a pre-released case study.

This course offers sound preparation to go on to study GCSE Business Studies in later years.

Financial Studies

Financial Studies is a valued and useful Level 3 subject at Barnhill Community High School which teaches students how to manage their future finance needs. The Diploma in Financial Studies (DipFS) has been designed to inspire students to meet their lifestyle aspirations through applying appropriate solutions from the wide range available within the evolving financial services marketplace.

The DipFS enables students to make informed decisions regarding their finances and helps them to become responsible borrowers, sensible savers and financial planners. It focuses on personal financial forecasting and monitoring, personal financial responsibility, 'financial footprints', other people's financial choices and the longer-term impact and potential consequences of decision-making. In addition, the DipFS explores the financial services marketplace from the point of view of the provider and considers the methods that providers use in order to satisfy customer needs, wants and aspirations whilst operating competitively and profitably.

What will students study?

Ten hours of curriculum time per fortnight are devoted to students in Years 12 and 13 that have chosen to study the DipFS.

Year 12 students will study the following units:

  • Unit 1 – Why Money Matters
  • Unit 2 – Risk and Reward in Personal Finance
  • Unit 3 – Making Personal Judgements

Year 13 students will study the following units:

  • Unit 4 – Financing the Future
  • Unit 5 – Financial Services from the Providers' Perspective
  • Unit 6 – Enhancing Financial Capability

How will Financial Studies help students to prepare for further study?

The skills and knowledge developed can be extended for Further or Higher Education study. The financially-related content of this qualification provides a foundation for continued study within finance and business-related disciplines, with many students going on to study subjects such as accounting, business, finance and banking at Higher Education Institutions or through further vocational training. The transferable skills developed are also valuable for further study in unrelated disciplines and the financial capability content and skills support students in making informed decisions about the value of personal, employment and study options and budgeting whilst studying.

This course is a full Level 3 qualification, graded A* to E and is worth the same UCAS points as traditional GCE A level courses. It can therefore help students to gain entry to University and carries up to 70 UCAS points. Visit the ifs website for further information: http://www.ifslearning.ac.uk

We hope that all our students enjoy Financial Studies and look forward to teaching the skills needed so students can make informed decisions regarding their finances in the future.