Senior Phase
Economic and Management Sciences
  General comment:

In the Senior Phase, there are eight Learning Programes based on the Learning Area Statements. Time allocations for each Learning Area are prescribed for all Grades and Phases. 		 
  Economic and Management Sciences:

Definition

The Economic and Management Sciences Learning Area deals with the efficient and effective use of different types of private, public or collective resources in satisfying people’s needs and wants, while reflecting critically on the impact of resource exploitation on the environment and on people.

In particular, the Economic and Management Sciences Learning Area deals with:

  • the nature, processes and production of goods and services;
  • the South African economy and socio-economic systems in different countries;
  • financial management and planning skills for private, public or collective ownership; and
  • entrepreneurial skills and knowledge needed to manage self and the environment effectively.

The Senior Phase will focus on:
  • the economy and its effect on the needs and wants of people;
  • role-players in the economy;
  • factors of production;
  • private, public and co-operative ownership;
  • the policies and role of the state in promoting economic growth and development;
  • introduction to international economic arrangements, co-operation and globalisation;
  • the need for skills and values relating to business, social and environmental issues;
  • the importance of effective management in:
    • business and leadership,
    • human resources issues and productivity,
    • financial control, accounting and record keeping, and
    • public relations and marketing;
  • the role of the entrepreneur;
  • market research and feasibility studies before starting a business; and
  • the role of small, medium and micro enterprises in economic growth.
  
Learning Outcome 1: THE ECONOMIC CYCLE
The learner will be able to demonstrate knowledge and understanding of the economic cycle within the context of the economic problem.
Assessment Standards: (some examples)

Grade 7

We know this when the learner explains needs and wants and how the differences between them impact on communities and the environment.

Grade 8

We know this when the learner describes the historical development of money and its role in societies and their economies.

Grade 9

We know this when the learner explains the different flows of money, factors of production, goods and services in the economic cycle within the South African economy.
Learning Outcome 2: SUSTAINABLE GROWTH AND DEVELOPMENT
The learner will be able to demonstrate an understanding of sustainable growth, reconstruction, and development, and to reflect critically on related processes.
Assessment Standards: (some examples)

Grade 7

We know this when the learner collects information on the influence of apartheid economic policies on ownership, poverty, wealth and quality.

Grade 8

We know this when the learner investigates and describes how the national budget is used to influence growth and redress economic inequalities.

Grade 9

We know this when the learner discusses how the national budget, regional and international agreements can be used to facilitate sustainable growth and development.
Learning Outcome 3: MANAGERIAL, CONSUMER AND FINANCIAL KNOWLEDGE AND SKILLS
The learner will be able to demonstrate knowledge and the ability to apply responsibly a range of managerial, consumer and financial skills.
Assessment Standards: (some examples)

Grade 7

We know this when the learner explains the role of planning, organising, leading and controlling (e.g. financial and procedural controls) in a business.

Grade 8

We know this when the learner differentiates between financial concepts used in business (e.g. fixed assets, current assets, liabilities, owner’s equity).

Grade 9

We know this when the learner completes a basic income statement and balance sheet for a service and retail business.
Learning Outcome 4: ENTREPRENEURIAL KNOWLEDGE AND SKILLS
The learner will be able to demonstrate entrepreneurial knowledge, skills and attitudes.
Assessment Standards: (some examples)

Grade 7

We know this when the learner compares essential characteristics and skills needed to be entrepreneurial from two different simple case studies of practising entrepreneurs in own community.

Grade 8

We know this when the learner identifies financial institutions and organisations promoting entrepreneurship.

Grade 9

We know this when the learner generates, through SWOT analysis, possible business ideas to meet the need for manufactured goods or services.
To view the complete Economic and Management Sciences Curriculum document, click here