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Reducing Risk
Types of Risk

What's Risk

Goals

Students will learn about types of risk in daily life and understand ways to manage risk with decision making. They will be able to:

👉   Provide examples of risks that people and households face

👉   Identify why people take risks

👉   Explain ways that people try to reduce or avoid negative consequences of risks

⇣  Download Lesson Plan

Key Questions

👉   What's risk?
👉   How to calculate losses and costs associated to risks?
👉   How to reduce or avoid risks?

Key Terms

👉   Risk assessment
👉   Physical risk
👉   Financial risk
👉   Risk assessor

Questions about the video "Reducing Risk"

Students will watch the video “Reducing Risk” and discuss the following concepts covered:

  • What are some examples of risk?  
  • How do you make decisions about risk?  

Questions about the video "Types of Risk"

Students will watch the video “Types of Risk” and discuss the following concepts covered:

  • What are examples of the financial costs of risks?
  • Why is it important to limit risk as much as you can?

Activity 1: Connect the Risk and Outcome

Students will complete a matching worksheet to connect risks with potential outcomes. They will be able to identify risks that are difficult to avoid and connect them to personal items that might be lost or damaged as a result.

Activity 2: Assessor for a Day

Students will participate in a game designed to teach about risk assessment and estimation. They will be able to identify physical and financial risks and estimate the financial costs of each.

Class Schedule

🕟   10 min: Video Introduction
🕟   15 min: Activity 1: Connect the risk and outcome
🕟   25 min: Activity 2: Risk assessor for a day

Supporting Material

⇣   Worksheet Risk Matching