Ukraine 9 клас Entrepreneurship and Financial Literacy
Chapters: 6
1. Money and its purpose
Evolution of money · History of the modern hryvnia
- Money and Credit – Money is a medium of exchange that removes the need for a double coincidence of wants. Banks take deposits and give loans. Credit can help people grow, or trap them in debt, depending on its terms. Formal loans from banks and cooperatives are cheaper and regulated; informal loans from moneylenders are costly. Self-Help Groups bring cheap credit to poor women.
2. Bank and non-bank financial institutions
Banking system of Ukraine · Non-bank financial institutions
- Banking: Deposits, Loans and E-banking – A bank accepts deposits from savers and lends money to borrowers. It offers five main deposit accounts (savings, current, recurring, fixed and multiple option), moves money safely through bank drafts, lends through overdraft and cash credit, and now serves customers online through e-banking and digital payments such as UPI, NEFT, RTGS and IMPS.
- The Financial Sector: Banks, Insurers and Markets – The financial sector is all the firms that deal with money: banks, building societies and credit unions, insurance companies, and financial markets such as the stock market and bond market. Its main job is to link savers, who have spare money, with borrowers, who need money. Banks take deposits, pay interest and lend at a higher interest rate. Insurers collect small premiums from many people and pay out to the few who suffer a loss, so risk is shared. Financial markets let firms and governments raise money by selling shares and bonds, and let investors buy and sell them. The sector also runs payments (cards, transfers, UPI) and currency exchange. It matters because it turns savings into investment that builds factories, homes and jobs. When it fails, as in the 2008 crisis, the whole economy suffers.
3. Basic financial services and products
Using financial services for goals · Deposits and deposit guarantee · Loans and credit history · Insurance · Pensions · Financial investments and risks
- Smart Ways to Manage Your Finances – Inflation makes prices rise, so the same money buys less. Money kept in a bank earns interest: simple interest is paid only on the original amount, while compound interest also earns interest on earlier interest, so it grows faster over time. A budget plans income into needs, wants and savings. Savings are kept safe; investments can grow but carry risk, and higher possible returns mean higher risk. Insurance shares risk among many people. Income tax is paid on income above a limit, at rates that rise with income.
- Money and Credit – Money is a medium of exchange that removes the need for a double coincidence of wants. Banks take deposits and give loans. Credit can help people grow, or trap them in debt, depending on its terms. Formal loans from banks and cooperatives are cheaper and regulated; informal loans from moneylenders are costly. Self-Help Groups bring cheap credit to poor women.
- Pensions: Money for When You Stop Working – A pension is an income you get after you retire. In a pay-as-you-go (PAYG) system, today's workers pay for today's retirees. In a funded system, each person saves into a pot that is invested and grows with compound interest. Most countries mix three pillars: a state pension, a workplace pension and private savings. Because people live longer and have fewer children, there are fewer workers per retiree, which puts pressure on PAYG systems and on public debt. Starting to save early is the strongest single lever.
4. Consumer protection in financial services
Financial-services law and consumer rights
- Consumer Rights – A consumer buys goods and services for use. Sellers can cheat consumers through short weight, adulteration, high prices or false ads. The Consumer Protection Act gives six rights: safety, information, choice, to be heard, redressal and consumer education. Quality marks and a three-level system of consumer commissions help consumers get justice.
5. Basics of entrepreneurship
Entrepreneurship and the state · Features of entrepreneurial activity
- From Ideas to Startups: Entrepreneurship – An entrepreneur turns an idea into a business by bringing together land, labour and capital and taking the risk. New ideas replace old ways, which economists call creative destruction. Startups grow with help from investors, banks, incubators, government schemes such as Startup India and Make in India, and small firms called MSMEs. A business plan maps the idea, costs and customers. The profit and loss statement shows Sales − Costs, and the balance sheet shows Assets = Liabilities + Capital.
- Entrepreneurship Development – Entrepreneurship is starting a new business by spotting a need, putting resources together and taking the risk. India needs entrepreneurs for jobs, new ideas and balanced growth. The process runs from knowing yourself to launching and growing. Start-up India (2016) supports new firms, funding comes from savings, angels, venture capital, banks and crowdfunding, and intellectual property rights protect new ideas, brands and creative work.
6. Project: school enterprise from idea to launch
School enterprise and team · Idea and business model · Marketing research · Investment and financial planning · Project management and brand · Implementation, launch and review
- From Ideas to Startups: Entrepreneurship – An entrepreneur turns an idea into a business by bringing together land, labour and capital and taking the risk. New ideas replace old ways, which economists call creative destruction. Startups grow with help from investors, banks, incubators, government schemes such as Startup India and Make in India, and small firms called MSMEs. A business plan maps the idea, costs and customers. The profit and loss statement shows Sales − Costs, and the balance sheet shows Assets = Liabilities + Capital.
- Entrepreneurship Development – Entrepreneurship is starting a new business by spotting a need, putting resources together and taking the risk. India needs entrepreneurs for jobs, new ideas and balanced growth. The process runs from knowing yourself to launching and growing. Start-up India (2016) supports new firms, funding comes from savings, angels, venture capital, banks and crowdfunding, and intellectual property rights protect new ideas, brands and creative work.
- Marketing Management – Marketing means finding out what buyers need and meeting that need in exchange for value, at a profit. It has many functions (research, planning, branding, labelling, packaging, pricing, promotion, distribution, service) and five philosophies (production, product, selling, marketing, societal). The marketing mix is the 4Ps: product (with branding, labelling, packaging), price (shaped by cost, demand, competition, government rules, objectives and marketing methods), place (channels and physical distribution) and promotion (advertising, personal selling, sales promotion, public relations).
- Project Management – A project is a one-time piece of work with a clear goal, a start and an end. Project management means planning and controlling it so it meets its scope on time and within cost. The life cycle runs initiate, plan, execute, monitor and close. Planners break the work into tasks (WBS), place them on a Gantt chart, find the critical path, manage risks and review lessons learned at the end.