SUBJECT INTRODUCTION

SUBJECT INTRODUCTION

The subject Economic and Management Sciences deals with the efficient and defective use of different types of private public or collective resources to satisfy people's needs and wants.  It reflects critically on the impact of resources exploitation on the environment and on people. It also deals with effective management of scarce resource in order to maximize profit.

Economic and management sciences is a practical subject that quips learners with real life skills for personal development and development of the community.

AN OVERVIEW OF THE CONTENT OF EMS ENTAILS THE FOLLOWING

• The needs and wants of different communities in societies.
• The nature, processes and production of goods and services, and business activities within the different sectors.
• Financial management , accounting as a tool for management of a business, and record keeping.
• The influence of demand and supply, and pricing.
• The flow of money or goods and services between households, business  and government , and the Rights and responsibilities  of the different role players in the economy.
• The way in which to achieve sustainable growth, reduce poverty and distribute wealth fairly, whilst still perusing profitability.
• Entrepreneurial skills and knowledge needed  to manage self and the environment effectively.
• Basic aspects of leadership and management 
• The role of savings in sustainable economic growth and development.
• Trade unions and their influence in the economy.
• The importance of using resources sustainability, effectively and efficiently.
• Functioning of both formal and informal businesses.

TIME ALLOCATION IN THE EMS CURRICULUM

The teaching time for EMS is two hours per week. As the subject involves development of accounting skills of learners , one hour per week must be used for financial literacy in terms of  the Annual teaching plan.

RESOURCES NEEDED FOR EFFECTIVE TEACHING AND LEARNING IN EMS

  Learners should have:

• Textbook
• Calculator 

 Teachers should have:

• Textbook
• Calculator
• Teachers Guide
• Subject Policy (CAPS)