Microfinance

Overview:

This lesson begins with an orientation to the idea of finance and financial services, lending/borrowing money and credit and pushes students to think about the types of services available to people in the developing world. The ideas of microfinance, microcredit and microloans are introduced and students think about the roles they play. Students then either read a Knowledge@Wharton High School article and/or watch an interview about microfinance (depending on time), and discuss in pairs the financial costs to lending money. The class reviews these financial costs as a group, focusing on the need of a lender to break even, and students then work in small groups to solve computation problems focused on breaking even with microfinance loans. Finally, the class discusses the role of microfinance, the reality of high interest rates and student interest in investing in microfinance.

NBEA Standard(s):
  • Computation, I. Mathematical Foundations
  • Computation, II. Number Relationships and Operations

Lesson Plan Details:

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