SECTION 1 MONEY Managing your money: Moral & Ethical Dilemmas Mr Tarn GCSE ECONOMICS: UNIT 11

SECTION 1 MONEY Aims of today’s lesson … Identify the moral and ethical dilemmas when spending money Analyse how a person can be ethical and moral in their spending decisions

SECTION 1 MONEY Starter Question…. How might a person spend their money ethically? (use the images below for inspiration)

SECTION 1 MONEY What is meant by ethical/moral spending? Ethical spending is a personal decision for consumers The kinds of issues that people might consider under ethical spending include: – Buying Fairtrade goods which ensure those involved in the manufacture are given a fair wage – Choosing organic products in the supermarket – Switching to a green energy supplier, or installing energy-efficient electrical appliances and light bulbs – Not buying chocolate or other products which have depended on child slavery in their manufacture – Choosing locally produced products to avoid food miles, and supporting local communities – Choosing not to invest in the shares of a company which produces goods designed to harm people (e.g. armaments)

SECTION 1 MONEY What do the Newspapers have to say? “Ethical consumer spending bucks recession with 18% growth” “UK households spent almost twice as much on ethical goods last year as they did five years ago, a report from the Co- operative Bank has found.” “Ethical spending soars”

SECTION 1 MONEY Over to you… As a group produce a classroom display covering the ‘10 Ways to become an ethical spender’….the only restriction is your imagination! I have placed useful information in the SSA, but use the internet and your creative imaginations to complete the task! Delegate roles and tasks for people to complete (maybe nominate a leader?)

SECTION 1 MONEY Plenary…think, pair & share! Think Pair Share