Financial Studies

Financial Literacy is now a discontinued course and is only available to current Year 12 and current Year 13 students. The course will be discontinued from September 2024.

 

Head of Department: Mr James Morrow

Financial Studies is a comprehensive introduction to personal finance, which covers the core concepts of financial capability and how they are applied to ensure long-term financial sustainability. It encourages students to become responsible borrowers and sensible savers, and to appreciate the need for financial planning throughout their life. The course prepares them for further study by developing the core skills of critical analysis and evaluation, verbal communication (through classroom discussion) and written communication.

Students taking Financial Studies at King’s will develop an understanding of the importance of financial capability in the immediate, short, medium and long term; the impact of external influences at different stages in the personal life cycle; risk and reward in managing personal finance; personal and external factors that lead to change; the financial services system and financial sustainability (individual and general); marketing techniques; financial services and products, including sources of help and advice; and borrowing, budgeting, financial planning and cash flow forecasting.

Financial Studies is available to study at Sixth Form level at King’s. The Certificate would be studied in Year 12 and the Diploma in Year 13. Each unit is assessed through a combination of multiple choice questions (Part A) and a written paper which includes pre-release case study requiring essay responses in an examination (Part B). Unlike a traditional A Level, Financial Studies is assessed at the end of each unit, rather than solely at the end of the course.

The teaching of the subject encompasses a number of relevant approaches and develops a range of skills. ICT is used where appropriate to aid delivery of the topics and discussions also forms an important part of developing the students’ understanding.  As well as developing a secure knowledge of financial concepts, students will also be encouraged to analyse, synthesise, evaluate and reflect; demonstrate numeracy skills, including the ability to manipulate financial and other numerical data to reflect the conceptual activity of financial maths; select appropriate data and information to make arguments; structure and communicate ideas logically and coherently; and increase their ability to work and learn independently.

This pragmatic subject has real world applications that are beneficial to all students; it develops an understanding of the financial services sector and enhances skills that are valued within that sector. Furthermore, it also develops transferable skills, such as analysis, that are important at undergraduate level, thus supporting each student to reach their full potential.

Specifications

Certificate: cefs.pdf (libf.ac.uk)

Diploma: dipfs.pdf (libf.ac.uk)

Subject content

Individuals, firms, markets and market failure

The national and international economy