Lesson Plan: The 2008 Financial Crisis
Grades 10-12
The 2008 financial crisis grew out of a housing bubble in the early 2000s, when home buying surged and subprime mortgages became widespread. When the bubble burst and housing prices fell, foreclosures soared and losses cascaded through Wall Street. Due to federal intervention financial markets rebounded relatively quickly, but unemployment and foreclosures remained high for years. The crisis revealed how risky loans, weak regulation, investor demand, and vulnerable borrowers combined to trigger the worst downturn since the Great Depression. This lesson focuses on the aggregate effects of the crash to the US financial sector represented as a system shock to the loanable funds market.
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