EMS

Economic and Management Sciences (EMS) is a crucial subject in the South African curriculum, aimed at equipping learners with essential knowledge and skills for understanding the economic and business world. EMS provides foundational understanding in areas such as economics, entrepreneurship, financial literacy, and basic business management. This subject is integral for developing financially literate individuals who can participate meaningfully in the economy and make informed decisions in their personal and professional lives.

EMS encourages learners to think critically about economic issues, understand the role of businesses in society, and appreciate the impact of economic activities on the environment and society at large. The subject also emphasizes the importance of ethical behavior and social responsibility in business practices. By fostering an understanding of these concepts, EMS prepares students for further education in commerce-related fields and equips them with practical skills for everyday life.

Specific Aims:

1. Develop Economic Literacy:

   • Provide learners with the ability to understand and interpret economic information, including basic economic principles and concepts, market dynamics, and the role of government in the economy.

2. Promote Financial Management Skills:

   • Teach learners fundamental financial literacy skills, such as budgeting, saving, investing, and understanding credit, which are essential for personal financial management and responsible economic behavior.

3. Foster Entrepreneurial Thinking:

   • Encourage learners to develop entrepreneurial skills, including identifying business opportunities, creating business plans, and understanding the risks and rewards of entrepreneurship.

4. Understand Business Operations and Management:

   • Provide knowledge about the operations and management of businesses, including organizational structures, business functions, and the importance of ethical practices and social responsibility.

5. Encourage Critical Thinking and Problem-Solving:

   • Develop learners' ability to analyze economic and business problems, make informed decisions, and understand the implications of these decisions on society and the environment.

By achieving these aims, EMS not only prepares students for future academic pursuits in commerce and related fields but also equips them with valuable skills for navigating the complexities of the modern economic landscape.

Grade 5

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    Term 1:

• The economic cycle

• Differentiating between the different levels of needs that people have, and how these might be satisfied

• Government's role in using resources and services

• Effect of natural disasters and health epidemics on formal and informal businesses

• Direct taxes and indirect taxes

    Term 2:

• Sustainable Growth and Development

• Changes in lifestyles, living standards and patterns of consumption from self-sufficient societies to modern societies

• Concept of economic growth and development, and its impact on the development of communities and society

• Personal steps and attitudes to improve the standard of living 

    Term 3:

• Managerial, Consumer and Financial Knowledge and Skills

• Management and leadership roles in the classroom and at home in the absence of adults

• How traders in their local area manage their businesses

• How a savings account is opened at a bank and completes deposit and withdrawal slips

• Value of savings and thrift, and people’s difficulty in saving if basic needs are not met

    Term 4:

• Entrepreneurial Knowledge and Skills

• Entrepreneurial skills needed to attract tourists to their community

• Developing and using observation sheets and questionnaires

• Identifying enterprises and events in the community where specific goods and services are being sold to satisfy consumers’ needs and generate profit.

• Generating entrepreneurial actions to meet the community needs

• Four elements of the marketing mix in a simple business activity 

Grade 6

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    Term 1:

• Roles of households, businesses and government in the economic cycle

• Rights and responsibilities of each of the participants in the production and consumption of resources and services

• Flow of resources and services in the economic cycle 

• Taxes and how they influence consumers and businesses

    Term 2:

• Standards of living and patterns of consumption

• Economic actions taken against the apartheid government to bring about change

• Steps that can be taken by the government to redress historic imbalances and poverty 

    Term 3:

• Production process

• Relationship between leadership and management in a business

• Concept of debt 

• Community savings schemes

    Term 4:

• Personal strengths and weaknesses in becoming an entrepreneur

• Possible business opportunities in the community 

• Campaigns to promote a product that will generate a profit

• Business plan for a trading or service business that could be operated from school or from home

• Four elements of the marketing