The Big Short
by Michael Lewis
About_
This study guide covers Michael Lewis’s The Big Short, a gripping nonfiction account of the few investors who
foresaw and profited from the 2008 financial crisis by betting against the subprime mortgage market. The guide
traces the stories of Steve Eisman, Michael Burry, Greg Lippmann, and Cornwall Capital as they uncovered the
corruption, incompetence, and systemic risk that Wall Street ignored. This study guide contains 78 questions
across 6 chapter sections (60 Factual + 18 Critical), 1 Crossword Puzzle (12 clues), and 1 Character Focus Activity.
What’s Included_
This study guide features 6 sets of 10 Factual Questions with an answer key (60 total), 6 sets of 3 Critical Analysis
Questions (18 total), 1 Crossword Puzzle (12 clues), and 1 Character Focus Activity (8 traits + evidence prompt +
critical thinking question).
Target Grades_
Grades 11-12
Teacher Note_
This study guide offers a comprehensive framework for guiding students through one of the most important
financial narratives of our time. The factual questions ensure close reading of complex financial concepts, while the
critical analysis prompts encourage students to examine themes of greed, accountability, and systemic failure. The
character focus and crossword activities provide varied entry points for different learning styles. We hope this
resource saves you valuable preparation time while deepening your students’ understanding of how markets can
fail and why critical thinking matters in finance.