ECONOMICS

ECONOMIC AND

MANAGEMENT SCIENCES

RATIONALE

This learning area is fundamental in preparing the citizens of South Africa to understand the critical importance of reconstruction, development and economic growth for a sustainable economic future. Through this learning area learners will be:

equipped with the knowledge and comprehension of economic and management skills and competencies that will enable them to play a vital role in the process of transforming the country’s economic, social, political, technological, physical and demographic environments;

introduced to an understanding of the wealth creation process by equipping them with the necessary South African background and knowledge in the different terrain of the economy, such as basic economics, management, finance, administration and institutions.

The acquired knowledge, skills and attitudes will enable the learners to make a contribution towards the improvement of the standard of living, human development, justice, basic conditions of employment, fair labour practices, productivity, as well as opportunities for all to realise their full potential.

Specific Outcomes

Engage in entrepreneurial activities.
Demonstrate personal role in economic environment.
Demonstrate the principles of supply and demand and the practices of production.
Demonstrate managerial expertise and administrative proficiency.
Critically analyse economic and financial data to make decisions.
Evaluate different economic systems from various perspectives.
Demonsttate actions which advance sustained economic growth, reconstruction and development in South Africa.
Evaluate the interrelationships between economic and other environments.

Explanatory Notes

1. Differentiation between phases (refer to par. 3.1.1)

1.1 Context

There is a minimal amount of differentiation shown in the Assessment Criteria and Range Statements of the Economic and Management Sciences. The differentiation will occur in the complexities and contexts of the tasks set at different ages and grades. Factors such as the level of teacher intervention, independent study and co-operative learning will vary according to the age and ability of the learners.

In many of the Range Statements, the context of the Assessment Criteria has been given as international, national, regional, local, school/class and personal (home). This does not imply that the level of complexity or rigour required is linked, in an incremental way, to these statements. Rather, it suggests that the learner’s main point of reference will be located in a spiral of widening context. Certainly it is not intended that the Range Statement should place limits on the context of learning. It is suggestive rather than exhaustive.

Local will refer to home, classroom, school and community. Therefore, in the Foundation Phase a learner will draw on direct experience to achieve the specific outcome via the Assessment Criteria.

Regional will refer to the wider economic region and does not necessarily correspond with political boundaries, e.g. provinces.

1.2 Complexity

The Range Statements have been formulated to give broad parameters to the Assessment Criteria. While technical terms are used in the Range Statements, these terms may have to be defined and described in the learning programme. In addition, the processes involved must be appropriate to the age and the ability of the learners. For example, it is not intended that formal accounting and economic theory and practice will be introduced before Grade 10.

1.3 Foundation Phase

The Assessment Criteria in all the Specific Outcomes for the Foundation Phase have been rated as Optional, Recommended, Highly Recommended. This is to serve as a guide to the Learning Programme developers. The danger of overloading the Learning Programmes is ever present and therefore the optional tag indicates that while it is possible or even desirable to expose the Foundation Phase learners to the content, process and context of a particular Assessment Criteria, it may not be possible in practice given the time constraints.

2. Use of examples

From time to time examples have been included in the Range Statement up to a maximum of two. These are to be seen as suggestions only. The primary purpose is to guide and the examples are not to be viewed as prerequisites to be included in the learning programmes.

3. Sequence of Assessment Criteria

These have been arranged in a sequence. This means that learners should, where possible, start with Assessment Criterion No. 1 and then proceed numerically.

1. Engage in entrepreneurial activitie

This Specific Outcome should be at the heart of the learning programmes of the Economic and Management Sciences. It encapsulates all the elements of economic and financial activities and is admirably suited to be developed, from Grade 1 onwards, in a cyclical spiral of increasing depth and complexity. This Specific Outcome has a significant role to play in preparing the learner for the world of work.

PHASE	Assessment Criteria 1	Range Statement
Senior Phase	Needs in societies are identified	Research and data collection methods e.g. observation and questionnaires Means to satisfy needs e.g. buying, producing Local, regional, national, international
Intermediate Phase		Research and data collection methods e.g. observation and questionnaires Means to satisfy needs e.g. buying, producing Local, regional
Foundation Phase		HIGHLY RECOMMENDED IN FOUNDATION PHASE Research and data collection methods e.g. observation and questionnaires Means to satisfy needs e.g. buying, producing Local

PHASE	Assessment Criteria 2	Range Statement
Senior Phase	Essential characteristics/ skills of successful entrepreneurs are identified and developed	Characteristics of an entrepreneur Strategies to develop the essential skills and attitudes e.g. human resource development
Intermediate Phase		Characteristics of an entrepreneur Strategies to develop the essential skills and attitudes e.g. human resource development
Foundation Phase		HIGHLY RECOMMENDED IN FOUNDATION PHASE Characteristics of an entrepreneur Strategies to develop the essential skills and attitudes e.g. human resource development

PHASE	Assessment Criteria 3	Range Statement
Senior Phase	Entrepreneurial activities will be demonstrated	Starting a business (real or simulated) situation analyses, business plan, implementation, evaluation
Intermediate Phase		Starting a business (real or simulated) situation analyses, business plan, implementation, evaluation
Foundation Phase		HIGHLY RECOMMENDED IN FOUNDATION PHASE Starting a business (real or simulated) situation analyses, business plan, implementation, evaluation

PHASE	Assessment Criteria 4	Range Statement
Senior Phase	An understanding of the nature of and need for productivity is demonstrated	Relationship between input/output quality/quantity efficiency/effectiveness Consequences of productivity Wealth/job creation, growth, employment and re-distribution
Intermediate Phase		Relationship between input/output quality/quantity efficiency/effectiveness Consequences of productivity Wealth/job creation, growth, employment and re-distribution
Foundation Phase		HIGHLY RECOMMENDED IN FOUNDATION PHASE Relationship between input/output quality/quantity efficiency/effectiveness Consequences of productivity Wealth/job creation, growth, employment and re-distribution

2. Demonstrate personal role in economic environment

The main purpose of this Specific Outcome is to engage the individual learner, at all levels, in an active understanding of their role in the economy. In addition, each individual in civil society should be aware of their rights and responsibilities. This will create a greater understanding of the importance of the diversity of role players in an economic system.

PHASE	Assessment Criteria 1	Range Statement
Senior Phase	Current economic environment in South Africa is described	Role and impact Government Commerce and Industry Organised labour Consumer organisations International
Intermediate Phase		Role and impact Government Commerce and Industry Organised labour Consumer organisations International
Foundation Phase		RECOMMENDED IN THE FOUNDATION PHASE Role and impact Government Commerce and Industry Organised labour Consumer organisations International

PHASE	Assessment Criteria 2	Range Statement
Senior Phase	An understanding of the role of the individual in the South African economic environment is demonstrated	Rights and responsibilities of: Consumer Producer Employer Employee Citizen/Individual
Intermediate Phase		Rights and responsibilities of: Consumer Producer Employer Employee Citizen/Individual
Foundation Phase		HIGHLY RECOMMENDED IN THE FOUNDATION PHASE Rights and responsibilities of: Consumer Producer Employer Employee Citizen/Individual

3. Demonstrate the principles of supply and demand and the practices of production

Producing goods and services to satisfy the needs of society is an important aspect of economic activities. This Specific Outcome prepares learners to be able to demonstrate their understanding of how products and services are created and marketed and how supply and demand effects production and price determination.

PHASE	Assessment Criteria 1	Range Statement
Senior Phase	An understanding of the need for resources to produce is demonstrated	Factors of production goods and services remuneration from factors of production
Intermediate Phase		Factors of production goods and services remuneration from factors of production
Foundation Phase		OPTIONAL IN THE FOUNDATION PHASE Factors of production goods and services remuneration from factors of production

PHASE	Assessment Criteria 2	Range Statement
Senior Phase	Production activities are described	Types of industries are described primary, secondary, tertiary, personal services Types of ownershi
Intermediate Phase		Types of industries are described primary, secondary, tertiary, personal services Types of ownership
Foundation Phase		OPTIONAL IN THE FOUNDATION PHASE Types of industries are described primary, secondary, tertiary, personal services Types of ownership

PHASE	Assessment Criteria 3	Range Statement
Senior Phase	Determination of the costs of production is demonstrated	Production according to quality and specification Determination of total and unit costs
Intermediate Phase		Production according to quality and specification Determination of total costs
Foundation Phase		OPTIONAL IN THE FOUNDATION PHASE Production according to quality and specification Determination of total costs

PHASE	Assessment Criteria 4	Range Statement
Senior Phase	The relationship between the supply and demand of resources, goods and services and managerial decisions in this respect are analysed	Price determination supply and demand equilibrium price other factors e.g. competition Value of the Rand Managerial decisions from above
Intermediate Phase		Price determination supply and demand equilibrium price other factors e.g. competition Value of the Rand Managerial decisions from above
Foundation Phase		OPTIONAL IN THE FOUNDATION PHASE Price determination supply and demand equilibrium price other factors e.g. competition Value of the Rand Managerial decisions from above

PHASE	Assessment Criteria 5	Range Statement
Senior Phase	Exchange of goods and services is explained	Historical perspective Markets: local, national and international e.g. product, factor and labour Marketing e.g. principles and functions Contracts Means of payment e.g. cash, foreign exchange Factors which influence the market e.g. climatic conditions, labour disputes
Intermediate Phase		Historical perspective Markets: local community e.g. product, factor and labour Marketing e.g. principles and functions Contracts Means of payment e.g. cash, foreign exchange Factors which influence the market e.g. climatic conditions, labour disputes
Foundation Phase		OPTIONAL IN THE FOUNDATION PHASE Historical perspective Markets: local community e.g. product, factor and labour Marketing e.g. principles and functions Contracts Means of payment e.g. cash, foreign exchange Factors which influence the market e.g. climatic conditions, labour disputes

4. Demonstrate managerial expertiseand administrative proficiency

Without effective managerial and administrative skills, at both individual and group level, much of human endeavour is wasted. In the economic sphere this concept of " doing the right things right" is of prime importance and is highly relevant to learners of all ages.

PHASE	Assessment Criteria 1	Range Statement
Senior Phase	Managerial expertise is demonstrated	Management functions: Purchasing, production, marketing, administration, public and labour relations, human resource development and management, finance Management tasks: Planning, organising, leading, monitoring and evaluation Individual and group skills Accountability Management styles Personal, institution, business, organisation
Intermediate Phase		Management tasks: Planning, organising, leading, monitoring and evaluation Individual and group skills Accountability Personal, institution
Foundation Phase		RECOMMENDED IN THE FOUNDATION PHASE Management tasks: Planning, organising, leading, control, review Individual and group skills Personal, institution

PHASE	Assessment Criteria 2	Range Statement
Senior Phase	Administrative proficiency is demonstrated	Activities involved: Information management: collection, recording, storage, retrieval, evaluation, and distribution of information Using available equipment e.g. electronic/ manual Personal, local, regional, business, organisation , institution
Intermediate Phase		Activities involved: Information management: collection, recording, storage, retrieval, evaluation, and distribution of information Using available equipment e.g. electronic/ manual Personal, local, regional, business, organisation, institution
Foundation Phase		RECOMMENDED IN THE FOUNDATION PHASE Activities involved: Information management: collection, recording, storage, retrieval, evaluation, and distribution of information Using available equipment e.g. electronic/ manual Personal, local, regional, business, organisation, institution

5. Use and communicate economic and financial data to make decision

At the centre of most economic and financial activities is the management of data. Learners of all ages should be made aware of the fact that inaccurate and/or insufficient data can be a major reason for poor decisions. The meaningful management of data has the consequence that informed decision making can take place. (Reference to Specific Outcome no. 6 of Mathematical Literacy, Mathematics and Mathematical Sciences)

PHASE	Assessment Criteria 1	Range Statement
Senior Phase	The management of economic and financial data is demonstrated.	Data: Economic Identify sources, collect, organise, process, storage, retrieval, report, evaluate, distribute Financial Identify sources, collect, organise, process, storage, retrieval, report, evaluate, distribute Using available equipment e.g. electronic/manual Local, regional, national
Intermediate Phase		Data: Economic Identify sources, collect, organise, process, storage, retrieval, report, evaluate, distribute Financial Identify sources, collect, organise, process, storage, retrieval, report, evaluate, distribute Using available equipment e.g. electronic/manual Local, regional
Foundation Phase		RECOMMENDED IN THE FOUNDATION PHASE Data: Economic Identify sources, collect, organise, process, storage, retrieval, report, evaluate, distribute Financial Identify sources, collect, organise, process, storage, retrieval, report, evaluate, distribute Using available equipment e.g. electronic/manual Local
PHASE	Assessment Criteria 2		Range Statement
Senior Phase	Economic and financial data is communicated		Methods: Financial Information (e.g. informal reporting) Economic Information (e.g. informal reporting Local, regional, national
Intermediate Phase			Methods: Financial Information (e.g. informal reporting) Economic Information (e.g. informal reporting Local, regional
Foundation Phase			RECOMMENDED IN THE FOUNDATION PHASE Methods: Financial Information (e.g. informal reporting) Economic Information (e.g. informal reporting Local

PHASE	Assessment Criteria 3	Range Statement
Senior Phase	Economic and financial data is used for decision making	Analysis and Interpretation (e.g. planning and control) Action Plan Local, regional, national
Intermediate Phase		Analysis and Interpretation (e.g. planning and control) Action Plan Local, regional
Foundation Phase		RECOMMENDED IN THE FOUNDATION PHASE Analysis and Interpretation (e.g. planning and control) Action Plan Local

6. Evaluate differenteconomic systems from variousperspectives

This Specific Outcome deals with the description of economic systems with special reference to South Africa and its position in the global economy. It is suggested that the focus of the Foundation Phase is on the South Africa economic system and its interaction with other states. Citizens should understand economic realities and the factors and activities which have an impact on the efforts of individuals and countries to satisfy their multiple needs.

PHASE

Assessment Criteria 1

Range Statement

Senior
Phase

Different economic systems are evaluated

Identify characteristics of systems

Elements e.g. types of ownership and control
Method of addressing principles, problems and needs
State involvement e.g. centralised or devolved

Identify sources of conflict and continuity e.g. labour relations

From perspectives of:

Government e.g. need for stability and growth
Employers e.g. profit motive
Labour e.g. rights of workers
Citizens/Individual e.g. constitutional rights

Intermediate
Phase

Identify characteristics of systems

Elements e.g. types of ownership and control
Method of addressing principles, problems and needs
State involvement e.g. centralised or devolved

Identify sources of conflict and continuity e.g. labour relations

From perspectives of:

Government e.g. need for stability and growth
Employers e.g. profit motive
Labour e.g. rights of workers

Citizens/Individual e.g. constitutional rights

Foundation
Phase

OPTIONAL IN FOUNDATION PHASE

Identify characteristics of systems

Elements e.g. types of ownership and control
Method of addressing principles, problems and needs
State involvement e.g. centralised or devolved

Identify sources of conflict and continuity e.g. labour relations

From perspectives of:

Government e.g. need for stability and growth
Employers e.g. profit motive
Labour e.g. rights of workers

Citizens/Individual e.g. constitutional rights

PHASE

Assessment Criteria 2

Range Statement

Senior
Phase

An understanding of the South African economic system is demonstrated

Historical perspectives

Characteristics of system

Elements e.g. types of ownership and control
Method of addressing principles, problems and needs
State involvement e.g. centralised or devolved
International interaction
Inequalities

Current situation analysed

From perspectives of:

Government e.g. need for stability and growth
Employers e.g. profit motive
Labour e.g. rights of workers
Citizens/Individual e.g. constitutional rights

Intermediate
Phase

Historical perspectives

Characteristics of system

Elements e.g. types of ownership and control
Method of addressing principles, problems and needs
State involvement e.g. centralised or devolved
International interaction
Inequalities

Current situation analysed

From perspectives of:

Government e.g. need for stability and growth
Employers e.g. profit motive
Labour e.g. rights of workers
Citizens/Individual e.g. constitutional rights

Foundation
Phase

RECOMMENDED IN FOUNDATION PHASE

Historical perspectives

Characteristics of system

Elements e.g. types of ownership and control
Method of addressing principles, problems and needs
State involvement e.g. centralised or devolved
International interaction
Inequalities

Current situation analysed

From perspectives of:

Government e.g. need for stability and growth
Employers e.g. profit motive
Labour e.g. rights of workers

Citizens/Individual e.g. constitutional rights

PHASE	Assessment Criteria 3	Range Statement
Senior Phase	The range of economic activities in the world and its implications for South Africa are demonstrated	Historical perspective e.g. effect of sanctions and disinvestment Diversity of global economic activities e.g. international trade Implications of global economic activities on South African economy Role of South African economy within a global economy
Intermediate Phase		Historical perspective e.g. effect of sanctions and disinvestment Diversity of global economic activities e.g. international trade Implications of global economic activities on South African economy Role of South African economy within a global economy
Foundation Phase		OPTIONAL IN THE FOUNDATION PHASE Historical perspective e.g. effect of sanctions and disinvestment Diversity of global economic activities e.g. international trade Implications of global economic activities on South African economy Role of South African economy within a global economy

7. Actions which advance sustained economic growth, reconstruction and development in South Africa are demonstrated

At this time in South African history, it is crucial that citizens and learners of all ages understand the need for growth, reconstruction and development in the South African economy. This Specific Outcome focuses on the essentials that will advance sustainable growth, reconstruction and development in the national economy. As a constructive and positive approach from individuals and organisations is needed, the values and attitudes which could hamper/help the achievement of these goals should be identified and critically analysed.

PHASE	Assessment Criteria 1	Range Statement
Senior Phase	An understanding for the need for economic growth is demonstrated	Reasons for economic growth e.g. unemployment, poverty Consequences of economic growth e.g. higher standard of living overall Local, regional, national, international (Southern Africa Developing Countries)
Intermediate Phase		Reasons for economic growth e.g. unemployment, poverty Consequences of economic growth e.g. higher standard of living overall Local, regional, national, international (Southern African Development Community)
Foundation Phase		RECOMMENDED IN THE FOUNDATION PHASE Reasons for economic growth e.g. unemployment, poverty Consequences of economic growth e.g. higher standard of living overall Local, regional, national, international (Southern African Development Community)

PHASE	Assessment Criteria 2	Range Statement
Senior Phase	An understanding of the basic elements of economic growth is demonstrated	Factors enhancing or hindering economic growth e.g. productivity, investment Values and attitudes enhancing or hindering economic growth e.g. work ethic, corruption
Intermediate Phase		Factors enhancing or hindering economic growth e.g. productivity, investment Values and attitudes enhancing or hindering economic growth e.g. work ethic, corruption
Foundation Phase		Factors enhancing or hindering economic growth e.g. productivity, investment Values and attitudes enhancing or hindering economic growth e.g. work ethic, corruption

PHASE	Assessment Criteria 3	Range Statements
Senior Phase	An understanding of the need for reconstruction and development is demonstrated	Reasons for reconstruction and development e.g. imbalances of the past Consequences of reconstruction and development e.g. overall improvement of standard of living Local, regional, national, international
Intermediate Phase		Reasons for reconstruction and development e.g. imbalances of the past Consequences of reconstruction and development e.g. overall improvement of standard of living Local, regional, national, international
Foundation Phase		RECOMMENDED IN THE FOUNDATION PHASE Reasons for reconstruction and development e.g. imbalances of the past Consequences of reconstruction and development e.g. overall improvement of standard of living Local, regional, national, international

PHASE	Assessment Criteria 4	Range Statements
Senior Phase	An understanding of the basic elements of reconstruction and development in South Africa is demonstrated	Reconstruction and development Elements e.g. redress, capacity building Attitudes and values enhancing/hindering e.g. Ubuntu, prejudice.
Intermediate Phase		Reconstruction and development Elements e.g. redress, capacity building Attitudes and values enhancing/hindering e.g. Ubuntu, prejudice
Foundation Phase		RECOMMENDED IN THE FOUNDATION PHASE Reconstruction and development Elements e.g. redress, capacity building Attitudes and values enhancing/hindering e.g. Ubuntu, prejudice

PHASE

Assessment Criteria 5

Range Statements

Senior
Phase

Plans for sustained economic growth, reconstruction and development are evaluated

Intervention and nation building

Reconstruction and Development Programme

Government e.g. Growth, Employment and Reconstruction
Business e.g. Human resource development
NGO’s e.g. Human resource development
Individual e.g. commitment

Local/regional/national/international (e.g. Southern African Development Community)

Intermediate
Phase

Intervention and nation building

Reconstruction and Development Programme

Government e.g. Growth, Employment and Reconstruction
Business e.g. Human resource development
NGO’s e.g. Human resource development
Individual e.g. commitment

Local/regional/national/international (e.g. Southern African Development Community)

Foundation
Phase

RECOMMENDED IN THE FOUNDATION PHASE

Intervention and nation building

Reconstruction and Development Programme

Government e.g. Growth, Employment and Reconstruction
Business e.g. Human resource development
NGO’s e.g. Human resource development
Individual e.g. commitment

Local/regional/national/international (e.g. Southern African Development Community)

8. Evaluate the interrelationships between the economic and other environments

The interdependence of any economic activity with the other environments is emphasised in this Specific Outcome. No economic decision can be made in isolation without taking into account the impact on the environment as a whole. This Specific Outcome is of vital importance to citizens/learners of all ages in order to sustain a harmonious and productive society.

PHASE	Assessment Criteria 1	Range Statement
Senior Phase	Major elements of the economic environment are described	Elements: Government e.g. policy, national budget, taxation Industry e.g. mining Commerce e.g. commercial banks Organised labour International impact Related legislation Local, regional, national, international
Intermediate Phase		Elements: Government e.g. policy, national budget, taxation Industry e.g. mining Commerce e.g. commercial banks Organised labour International impact Related legislation Local, regional, national
Foundation Phase		RECOMMENDED IN THE FOUNDATION PHASE Elements: Government e.g. policy, national budget, taxation Industry e.g. mining Commerce e.g. commercial banks Organised labour International impact Related legislation Local, regional, national

PHASE	Assessment Criteria 2	Range Statement
Senior Phase	The interrelationships between the economic and other environments are identified and critically analysed.	Economic environment related to other environments physical and natural e.g. water technological e.g. mechanisation social e.g. unemployed, cultural political e.g. pressure groups Action plans to address some issues: develop, implement and evaluate
Intermediate Phase		Economic environment related to other environments physical and natural e.g. water technological e.g. mechanisation social e.g. unemployed, cultural political e.g. pressure groups Action plans to address some issues: develop, implement and evaluate
Foundation Phase		RECOMMENDED IN THE FOUNDATION PHASE Economic environment related to other environments physical and natural e.g. water technological e.g. mechanisation social e.g. unemployed, cultural political e.g. pressure groups Action plans to address some issues: develop, implement and evaluate

Return to Contents | Next

ECONOMIC AND MANAGEMENT SCIENCES

ECONOMIC AND

MANAGEMENT SCIENCES