Autumn Term What is money and its function

Autumn Term What is money and its function in society? Ver 2020. 1 Concepts, text and illustrations copyright Quentin Nason

Financial Education Quality Mark The Teacher’s Manual and associated downloadable Power. Point presentations and teacher’s notes have been awarded the Financial Education Quality Mark which: • Represents the seal of approval from Young Money, the UK’s leading independent authority on financial education • Demonstrates that the resource is both financially accurate and of the highest educational value The Financial Education Quality Mark is highly regarded at a national level and is supported and endorsed by: • The Department for Education • Education Scotland • The All Party Parliamentary Group on Financial Education for Young People The Financial Education Quality Mark is supported by the Money and Pensions Service, ensuring high quality financial education resources in schools.

SPECIMEN China SPECIMEN Nicaragua Afghanistan Nepal Money from around the world SPECIMEN Belarus Laos SPECIMEN 1

Foreign bank notes can be interesting SPECIMEN Zimbabwe Dollar Who wants to be a trillionaire? 2

Now let’s take a look at our own money 3

How well do you know the £ 5 bank note? Quiz How many number “ 5”s or the word “five” can you find… 4

Did you find them all? 1 2 6 3 5 4 Many! 5

History in the £ 5 bank note “I have nothing to offer but blood, toil, tears and sweat. ” Winston Churchill 13 May 1940 (3 pm) 6

The £ 10 bank note over time Charles Darwin V-series 2003 -2016 Charles Dickens E-series 1992 -2006 Florence Nightingale D-series 1975 -1994 7

Even older £ 10 bank notes! Back in history, bank notes were simply notes exchanged between merchants C-series 1964 -1979 Trust in money is important!! 8

£ 20 bank note over time Adam Smith Edward Elgar Michael Faraday William Shakespeare F-series 2007 -Feb 2020 E-series 1999 -2010 E-series 1993 -2001 D-series 1970 -1993 9

All change, here comes plastic! 2016 Elizabeth Fry Winston Churchill 2017 Charles Darwin Jane Austen 2020 Adam Smith JMW Turner 10

Making money safe Feel of the paper Micro lettering Hologram Raised print Watermark Print quality Ultra-violet Metallic thread The Bank of England makes every effort to ensure our money is safe 11

World before money – Barter Definition: Exchange (goods or services) for other goods or services without using money 12

What do you think about Money? Is it a good thing or not in society? 13

Which would you rather pay with? How would you pay for goods and services? Is it easier to pay with BARTER ? or Is it easier to pay with coins and bank notes? Money is just a tool in society to purchase goods and services and is neither good nor bad. However, you can make a difference in your community by giving to charity. 14

When you travel to another country… Make sure you exchange your currency for theirs If you go to Ireland, France or Spain for example, you need to get Euros The Euro is the currency used in most of the countries in the European Union How to exchange currency You go to a bank or a money exchange and for every £ 1 you give them, you receive back € 1. 10 on that day* * This is an estimate as rates change daily Foreign exchange* -----------Exchange £ 10, you get back € 11. 10 Exchange £ 20, you get back € 22. 20 Exchange £ 50 you get back € 55. 50