Revised National Curriculum Statement Grades R-9 (Schools) - Grade Five
Learning Area: Economic and Management Sciences
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
We know this when the learner:
- Differentiates between the different levels of needs that people have, and explains how these might be satisfied.
- Identifies and describes the role of government in the use of resources and services.
- Explains the effect of natural disasters (e.g. drought) and health epidemics (e.g.HIV/AIDS) on formal and informal businesses.
- Differentiates between direct taxes (e.g. income tax) and indirect taxes (e.g.VAT, tax on petrol).
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 its related processes.
Assessment standards
We know this when the learner:
- Describes the changes in lifestyles, living standards and patterns of consumption from selfsufficient societies to modern societies.
- Explains the concept of economic growth and development, and its impact on the development of communities and society.
- Explores personal steps and attitudes to improve the standard of living (e.g.developing entrepreneurial skills, using time and resources productively in promoting a healthy environment).
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
We know this when the learner:
- Participates and demonstrates some management and leadership roles in the classroom and home in the absence of adults.
- Observes and reports on how traders in own local area manage their businesses.
- Finds out and discusses how a savings account is opened at a bank, and completes deposit and withdrawal slips.
- Discusses the value of savings and thrift, and people’s difficulty in saving if basic needs are not met.
Learning Outcome 4: Entrepreneurial Knowledge and Skills
The learner will be able to develop entrepreneurial knowledge, skills and attitudes.
Assessment standards
We know this when the learner:
- Identifies the specific entrepreneurial skills needed to attract tourists to own community.
- Develops and uses observation sheets and questionnaires to do a needs analysis in the school or community.
- Identifies enterprises and events in own community (e.g. sporting events, craft work) where specific goods and services are being sold to satisfy consumers’ needs and generate profit.
- Generates entrepreneurial actions to meet own community needs (e.g. co-operatives, loan societies).
- Discusses the four elements of the marketing mix in a simple business activity (product, price, place, promotion).