Topics

Topic Grade 7: Content

The economy History of money; needs and wants; goods and services; the production process; and inequality and poverty

Financial literacy Savings; budgets, income and expenses; and accounting concepts

Entrepreneurship The entrepreneur; starting a business; businesses; and an Entrepreneur’s Day.

Grade 7 Teaching Plan

Annual teaching plan: Grade 7, Term 1
Content Area	Topics and time allocation	Units	LB pages
The economy	Topic 1:  History of money (6 hours)	Unit 1 Traditional societies and bartering Unit 2 Money and electronic banking Unit 3 The role of money	2 5 9
The economy	Topic 2:  Needs and wants (4 hours)	Unit 1 Types of needs Unit 2 Primary and secondary needs Unit 3 Limited resources to satisfy needs and wants	14 18 21
The economy	Topic 3: Goods and services (4 hours)	Unit 1 Goods and services Unit 2 Producers and consumers Unit 3 The role of households as producers and consumers Unit 4 Using goods and services efficiently and effectively Unit 5 How to recycle and reuse goods to satisfy needs and wants	25 27 28 30 32
Entrepreneurship	Topic 4: Businesses (6 hours)	Unit 1 Formal and informal businesses Unit 2 Types of businesses in the formal and informal sector Unit 3 The advantages and disadvantages of formal and informal businesses Unit 4 The role of formal and informal businesses as producers and consumers Unit 5 The effect of natural disasters and health epidemics on formal and informal businesses	36 40 42 45 47

Annual teaching plan: Grade 7, Term 2
Content Area	Topics and time allocation	Units	LB pages
Revision	Topics 1 to 4 (2 hours)	Revise the work covered in Term 1, and provide learners with an overview of the work to be covered in Term 2.	51
Financial literacy	Topic 5: Accounting concepts (4 hours)	Unit 1 Accounting concepts: capital, assets and liabilities Unit 2 Income and expenses Unit 3 Profits and losses Unit 4 Banking, savings and budgets Unit 5 Financial records and transactions	55 57 58 60 62
Financial literacy	Topic 6: Income and expenses (6 hours)	Unit 1 Personal income and expenses Unit 2 Personal Statements of Net Worth Unit 3 Business income and expenses Unit 4 Savings and investments in business	66 71 72 74
Financial literacy	Topic 7: Budgets (4 hours)	Unit 1 Definition of a budget, income and expenditure Unit 2 Personal budgets Unit 3 Business budgets Unit 4 Savings, buying and planning	78 81 84 86
Mid-year Examination	4 hours	The mid-year examination is based on the work covered in Terms 1 and 2 (Topics 1–7)	42 in TG

Annual teaching plan: Grade 7, Term 3
Content Area	Topics and time allocation	Units	LB pages
Revision	Topics 5 to 7 (2 hours)	Revise the work covered in Term 2, and provide learners with an overview of the work to be covered in Term 3.	87
Entrepreneurship	Topic 8: The entrepreneur (4 hours)	Unit 1 Definition of an entrepreneur Unit 2 Characteristics and skills Unit 3 Entrepreneurial actions	91 93 96
Entrepreneurship	Topic 9: Starting a business (4 hours)	Unit 1 Needs and wants of consumers Unit 2 Use of recycled materials Unit 3 SWOT analysis Unit 4 Setting and achieving goals Unit 5 Advertising Unit 6 Budgeting for Entrepreneurs’ Day Unit 7 Costing	101 103 104 105 106 108 110
Entrepreneurship	Topic 10: Entrepreneurs’ Day (4 hours)	Unit 1 Hosting an Entrepreneurs’ Day Unit 2 Calculating your profit or loss	116 122
The economy	Topic 11: Inequality and poverty (6 hours)	Unit 1 Causes of socio-economic imbalance Unit 2 Inequality in South Africa Unit 3 Education and skills to fight inequality and injustice Unit 4 Urban and rural challenges Unit 5 Creating sustainable job opportunities	126 129 134 136 139

Annual teaching plan: Grade 7, Term 4
Content Area	Topics and time allocation	Units	LB pages
Revision	Topics 8 to 11 (2 hours)	Revise the work covered in Term 3, and provide learners with an overview of the work to be covered in Term 4.	142
The economy	Topic 12: The production process (6 hours)	Unit 1 What is production? Unit 2 Inputs and outputs Unit 3 Sustainable use of resources Unit 4 Meaning of economic growth Unit 5 Productivity Unit 6 The effect of productivity on economic growth Unit 7 Technology in the production process Unit 8 Contribution of technology to improving productivity and economic growth	146 150 152 154 156 158 159 161
Financial literacy	Topic13: Savings (6 hours)	Unit 1 Personal savings Unit 2 Banks Unit 3 Community savings schemes Unit 4 Financial institutions and organisations promoting entrepreneurship	166 168 173 174
Examination preparations	Revision and examination preparation (4 hours)	1. Revise the work covered in Term 4 2. Revise all work covered during the year 3. Study techniques 4. Exam skills	177
Year-end examination	4 hours	The year-end examination is based on the work covered in terms 1–4 (Topics 1–13)	92 in TG

Work schedule  – Grade 7 s
Term	Week	LO & ASs	Chapter	Assessment	Resources
1	1-2	LO1: The Economic Cycle	1: People’s needs and wants	Informal and formal assessment	Grade 7 Learner’sTeacher’s Guide List of public services in community and nearest town Images of impact of production e.g. smoke pollution Newspapers and magazines with advertisements (for collage)
1	3-4	LO1: The Economic Cycle LO2: Sustainable Growth and Development	2: Production and economic activity	Informal and formal assessment	Grade 7 Learner’s Book and Teacher’s Guide Old newspapers & magazines Job advertisements and job descriptions Scissors, glue Cardboard Rulers or measuring tapes
1	5-6	LO1: The Economic Cycle	3: Markets and prices	Informal and formal assessment	Grade 7 Learner’s Book and Teacher’s Guide Cape Times article TG p18 Paper or card Crayons and Koki pens Scissors, glue Examples of graphs
1	7-8	LO1: The Economic Cycle	4: Power relationships in the economy	Informal and formal assessment	Grade 7 Learner’s Book and Teacher’s Guide Paper or card Crayons and Koki pens Scissors, glue
2	9-10	LO1: The Economic Cycle LO2: Sustainable Growth and Development	5: Economic growth and development	Informal and formal assessment	Grade 7 Learner’s Book and Teacher’s Guide Articles on development projects Picture from magazines References on apartheid policies Paper or card for posters Scissors, glue Access to the Internet (see TG p31 for suggested sites)
2	11-12	LO2: Sustainable Growth and Development	6: Savings and investment	Informal and formal assessment	Grade 7 Learner’s Book and Teacher’s Guide Leaflets from banks about investment and savings accounts Access to the Internet (see TG p40 for suggested sites)
2	13-14	LO4: Entrepreneurial Knowledge and Skills	7: Entrepreneurship	Informal and formal assessment	Grade 7 Learner’s Book and Teacher’s Guide Access to Internet or library Articles from newspapers about entrepreneurs
2	15-16	LO4: Entrepreneurial Knowledge and Skills	8: Business ideas and market research	Informal and formal assessment Test	Grade 7 Learner’s Book and Teacher’s Guide Paper, Crayons, Koki pens Town plans of local CBD Access to the Internet

 GR. 7 EMS LESSON PLANS –TERM 1 (WEEK 1-10)

Economic and Management Sciences GRADE 7

LESSON PLAN FOR  TERM 1: Week 1 -3

(2 hours per week) Topic: THE ECONOMY Sub-topic: Unit 1.1 History of money	Duration: 6 hours (6 x 1 hour periods) Start date: …..……… Completed date: ……………
Prior content knowledge: Own general knowledge/experience on using money and bank facilities.	Link with next lesson: Needs and wants – people use money to satisfy their needs and wants on a daily basis.
Content: 1.1.1 Traditional societies and bartering (2 hours) 1.1.2 Development of money Electronic banking (2 hours) 1.1.3 The role of money and characteristics of money (2 hours)	Vocabulary/ Important Words: 1.1.1 Nomadic, self-sufficient, needs, wants, barter. Commodity money. 1.1.2 Promissory notes, banknotes electronic banking, electronic fund transfer (EFT), automatic teller machines (ATM’s) Personal Identification Number (PIN) 1.1.3 currency, durable, portable, divisible
Aims and Objectives of the lesson By the end of the lesson learners will be able to: ü ü List the problems with bartering ü Describe/explain the latest bank services ü List the advantages of electronic banking for the client ü List the advantages of electronic banking for the bank and others
Teaching Methods:  Narrative method  Discussion method  Question and answer  Demonstrations  Group activities	Differentiation (Enrichment opportunities / addressing barriers):  Use visual materials for learners without any experience with money.  Show learners the different features of South African money  Make instructions simple to address the language barrier  Extra enrichment activity for learners who need more stimulation (research)

Lesson, Class work and Homework: Activity 1.1 –Activity 1.3: FORMAL ASSESSMENT: Assignment on electronic and cell phone banking.

TEACHER’S ACTIVITIES Period 1 + 2: 1.1.1 Traditional societies and bartering (2 hours) (LB p. 2)  Explain how traditional societies satisfy their needs and wants.  Explain bartering and the problems associated with bartering.  Explain how commodity money developed into metallic money when precious metals were discovered.  Explain important vocabulary words listed for this topic.  Mark Activity 1.1 at the beginning of period 2 and check that learners correct their mistakes. Period 3 + 4: 1.1.2 The development of money (2 hours) (LB p. 5)  The teacher explains the problems people had to keep their money safe.  And how promissory notes developed to solve this problem.  Explain why the first paper money was developed.  Explain electronic banking and all the new vocabulary words learners need to know.  Use your cell phone to explain how a cell phone can help to make cell phone banking more safe.  Discuss the latest banking services by using the latest bank brochures. Task learners to collect the latest brochures from local banks.  Explain the advantages of electronic banking for the client as well as for the bank.  Task learners to do Act 1.2 (LB p. 7).  Let them mark Activity 1.2 the next period and correct their mistakes.

LEARNERS’ ACTIVITIES Period 1 +2: 1.1.1 Traditional societies and bartering (2 hours) (LB p. 2)  Ask clarity seeking questions and respond to the teacher’s questions.  Learners summarise the vocabulary words for this topic in their exercise books.  Learners can explain how they will use the bartering system themselves.  Learners will do Activity 1.1 (LB p. 4).  Learners will mark their homework and correct their mistakes at the beginning of period 2. Period 3 + 4: 1.1.2 The development of money (2 hours) (LB p. 5)  Learners listen to the explanation of the teacher, ask clarity seeking questions and respond to questions.  They collect the latest bank brochures about bank services.  Discuss the latest bank services in groups.  Learners summarise the vocabulary words for this topic in their exercise books.  Learners do Activity 1.2 (LB p. 7).  Learners mark their homework and correct their mistakes

Period 5 + 6: 1.1.3 The role of money (1 hour) (LB p. 8)  Explain the role or function of money in societies.  The teacher also explains the characteristics of money.  Illustrates the security features of South African bank notes, e.g. the animal watermark, security silvery thread or stripe and unique serial numbers. FORMAL ASSESSMENT: (1 hour) (TG p. 4)  Copy the questions of the assignment on the blackboard and task learners to write it in their workbooks.	Period 5 + 6: 1.1.3 The role of money (1 hour) (LB p. 8)  Ask clarity seeking questions and respond to the teacher’s questions.  Bring money to the classroom and make a list of all the different denominations of coins and notes found in SA.  Discuss the security features used in the production of South African bank notes to prevent counterfeiting. FORMAL ASSESSMENT: (1 hour) (TG p. 4)  Learners copy the questions of the formal assessment in their workbooks and should submit it within 2-3 days as an individual assignment.
Resources:   EMS Gr. 7 LB (p. 1-8) and TG (p.2-6 ) (Assignment on page 4+5 of TG).  Chalkboard and chalk  South African bank notes to illustrate the security features.  Internet or library (to research the history of money and the security features of South African bank notes).  Brochures of bank services.  Cellphone to illustrate some of the messages received from banks.
Teacher’s comments / reflection: …leaner where struggling to imagine about electronic banking. As the teacher I will have to arrange educational tour town. ………………………………………………………………………………………………………… …………………………………………………………………………………………………………… …………………………………………………………………………………………………………… …………………………………………………………………………………………………………… …………………………………………………………………………………………………………… …………………………………………………………………………………………………………… ……………………………………………………………………………………………………………
HOD input: monitoring and support …………………………………………………………………………………………………………… ……the content and objective of the lesson where relevant ………………………………………………………………………………………………………

Assessment plan

Learning Area: Economic and Management Sciences

Resource Name: Economic and Management Sciences

Phase: Senior Phase

Grade: 7

Tags: Structured questions, completing a table, technology in banking, ATM, Internet banking, electronic funds transfer, Formative Assessment

Assessment Type: Formative

Assessment Form: Structured questions

Duration: 20 minutes

Copyright for included material: N/A

Learning Outcome(s) and Assessment Standard(s): 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 3.4: Discusses the use of technology in telecommunication services (e.g. cell phones) and financial transactions (e.g. ATM, Internet) in improving administration, communication and access to information.

Learning Space: Assessment

Hyperlinks: To be completed later.

Rating:

Number of questions for exemplar: One

Easy questions:

Medium questions: Question 1

Difficult questions:

Assessment Task

Technology in banking (Individual activity) (LO3 AS4)

a) Consult a dictionary or do some research if necessary to explain what each of the following
    concepts mean:

(i) ATM

(ii) Electronic funds transfer

(iii) Internet banking                                                                                                            [3 marks]

b) Complete the following table by listing one advantage and one disadvantage for a business in
    using each of these types of banking:                                                                                [6 marks]

	Advantage	Disadvantage
(i) ATM
(ii) Electronic funds transfer
(iii) Internet banking

c) Which two typical banking transactions does a business do? Give one reason for each transaction.                                                                                                                             [4 marks]

d) Give two reasons why a business needs to receive a bank statement monthly.              [2 marks]

                                                                                                                                    [Total: 15 marks]

Suggested Solutions (LO3 AS4)

Question number	Possible marks	Solution
1	15	a) (i) Automatic teller machines are machines that allow you access to your banking through smart card technology. They allow the customer to do basic banking transactions even if the bank is closed.            [1 mark] (ii) Electronic funds transfer is the transfer of funds using electronic means, such as computer, ATM, magnetic tape or telephone.    [1 mark] (iii) Internet banking allows the business access to its bank account online at any time.                                                                                   [1 mark] b)                                                                                                   [6 marks] Advantage Disadvantage (i) ATM Closer and faster than going to the bank Immediate access to funds (any one) Risk of being mugged when using ATM Have to remember PIN (any one) (ii) Electronic funds transfer No risk of handling cash Convenient to do EFTs via Internet (any one) Must have access to Internet to transfer funds yourself (iii) Internet banking It is convenient; you do it from your home. Keep track of transactions on bank account Greatly reduced bank charges (any one) Viruses could attack the website, making it impossible for you to do your banking Hackers could get hold of your information and transact on your account (any one) c) A business withdraws money from its account, in order to make payments for supplies, wages and other expenses. A business also deposits money into its account for safekeeping and to earn interest on the money in the account.                                                                [4 marks] d) To keep track of all payments made. To verify deposits made into the account. To prove income. To compile bank reconciliation and other financial statements. To check that there are no unauthorised payments made from the account. (any two)                                              [2 marks]

Learning Area: Economic and Management Sciences

Resource Name: Economic and Management Sciences

Phase: Senior Phase

Grade: 7

Tags: Structured question, sustainable use of resources, natural resources, environment, conservation, Formative Assessment

Assessment Type: Formative

Assessment Form: Structured question

Duration: 25 minutes

Copyright for included material: N/A

Learning Outcome(s) and Assessment Standard(s): 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: 1.1 Explains needs and wants and how the differences between them impact on communities and the environment.

Learning Space: Assessment

Hyperlinks: To be completed later.

Rating:

Number of questions for exemplar: One

Easy questions:

Medium questions: Question 1

Difficult questions:

Assessment Task

Sustainable use of resources (Pair activity) (LO1 AS1)

Work with a partner. Explain the following to your partner in writing:

1. What are natural resources?                                                                                              [1 mark]

2. Explain what is meant by the ‘sustainable use of resources’.                                            [1 mark]

3. How can we harm the environment when seeking to satisfy our needs and wants?
    Give an example.                                                                                                               [2 marks]

4. Give three examples of ways to conserve water.                                                              [3 marks]

5. What are the three ‘Rs’ of the sustainable use of resources?                                            [3 marks]

Suggested Solutions (LO1 AS1)

Question number	Possible marks	Solution
1	10	1. Natural resources are raw materials found in nature that can be used for production. Natural resources are not human-made.               [1 mark] 2. ‘Sustainable use of resources’ means to use resources in such a way that they are not used up. This means some of the resources should still be available for future generations to use.                                     [1 mark] 3. We can harm the environment when we use up scarce resources in trying to satisfy our needs and wants.  Chopping down trees to fuel fires destroys the habitat of birds and other small creatures, which is bad for the ecology of the area.                                                                 [2 marks] 4. Three of the following: showering instead of bathing; turning off all taps when they are not being used; watering the garden with a bucket instead of leaving a hosepipe running; using bath water to water the garden; covering a swimming pool when not in use to prevent evaporation; not rinsing dishes under running water.                                              [3 marks] 5. Reduce rubbish; Reuse what we can; Recycle glass, plastic and paper.                                                                                                       [2 marks]

Learning Area: Economic and Management Sciences

Resource Name: Economic and Management Sciences

Phase: Senior Phase

Grade: 7

Tags: Structured questions, statement of net worth, assets, liabilities, owner’s equity, Formative Assessment

Assessment Type: Formative

Assessment Form: Structured questions

Duration: 35 minutes

Copyright for included material: N/A

Learning Outcome(s) and Assessment Standard(s): 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 3.5: Draws up an elementary statement of net worth, using personal records.

Learning Space: Assessment

Hyperlinks: To be completed later.

Rating:

Number of questions for exemplar: One

Easy questions:

Medium questions: Question 1

Difficult questions:

Assessment Task

Interpreting a statement of net worth (Individual activity) (LO3 AS5)

Study the statement of net worth of Kabelo’s Coffee Shop. Do additional research about the accounting terminology and answer the questions that follow.

Statement of net worth of Kabelo’s Coffee Shop on 31 August 2012

Fixed assets			Owner’s capital	250 000
Land	R250 000		Profit	41 500
Buildings	R350 000		Total owner’s equity		291 500
Equipment	R120 000		Total liabilities		485 000
Total fixed assets		720 000	Long-term liabilities	420 000
Current assets		56 500	Short-term liabilities:
Debtors	3 500		Creditors (supplies)	65 000
Cash in bank	53 000
			Total owner’s equity +
Total assets		776 500	total liabilities		776 500

a) What is the amount indicated for the fixed assets?                                                           [1 mark]

b) What is the amount indicated for the total current assets?                                                [1 mark]

c) What is the amount indicated for the profit the business made?                                       [1 mark]

d) How much total debt does the business have?                                                                  [1 mark]

e) Can the business immediately pay for the supplies it bought on credit? Give a reason
    for your answer.                                                                                                                  [2 marks]

f) What is the business’s net worth? Show your calculation.                                                 [3 marks]

g) How do you work out the profit?                                                                                        [1 mark]

                                                                                                                                    [Total: 10 marks]

Suggested Solutions (LO3 AS5)

Question number	Possible marks	Solution
1	10	a) R720 000                                                                            [1 mark] b) R56 500                                                                               [1 mark] c) R41 500                                                                               [1 mark] d) R485 000                                                                             [1 mark] e) No, because the cash in the bank is less than the amount owed.                                                                                                [2 marks] f) Net worth     = total assets – total liabilities ü = R776 500 – R485 000 ü = R291 500 ü                                                 [3 marks] g) Profit = total income – total expenses                                [1 mark]

Learning Area: Economic and Management Sciences

Resource Name: Economic and Management Sciences

Phase: Senior Phase

Grade: 7

Tags: Structured questions, fill in missing word, technology in banking, safety and security, Formative Assessment

Assessment Type: Formative

Assessment Form: Structured questions, fill in missing word

Duration: 15 minutes

Copyright for included material: N/A

Learning Outcome(s) and Assessment Standard(s): 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  Discusses the use of technology in telecommunication services (e.g. cell phones) and financial transactions (e.g. ATM, Internet) in improving administration, communication and access to information.

Learning Space: Assessment

Hyperlinks: To be completed later.

Rating:

Number of questions for exemplar: One

Easy questions: Question 1

Medium questions:

Difficult questions:

Assessment Task

Be safe when using technology for banking (Individual activity) (LO3 AS4)

Fill in the missing word (choose from the words in the word box):

unsolicited         statement        internet café                firewall                      

identification      trojan               surroundings               phishing

a) When an e-mail is sent out asking a business to verify or update banking details on a bogus website, it is called __________.

b) When you bank at an ATM you will be asked for a personal __________ number to allow you access to your account.

c) A __________ is a computer virus that enters your computer without you realising it and captures the keystrokes made on a computer to capture passwords entered on certain sites.

d) Closely monitor your bank __________ to see if there are any suspicious transactions.

e) A __________ is a defense against harmful computer viruses.

f) Beware of __________ emails that ask you to update your passwords and username through a link to a website.

g) Be aware of your __________ when you approach an ATM; if there are any suspicious-looking characters, rather walk away.

h) Always log out of your online banking account when using a public Internet facility such as an __________.

                                                                                                                                    [Total: 8 marks]

Suggested Solutions (LO3 AS4)

Question number	Possible marks	Solution
1	8	a) When an e-mail is sent out asking a business to verify or update banking details on a bogus website, it is called phishing. b) When you bank at an ATM you will be asked for a personal identification number to allow you access to your account. c) A trojan is a computer virus that enters your computer without you realising it and captures the keystrokes made on a computer to capture passwords entered on certain sites. d) Closely monitor your bank statement to see if there are any suspicious transactions. e) A firewall is a defense against harmful computer viruses. f) Beware of unsolicited e-mails that ask you to update your passwords and username through a link to a website. g) Be aware of your surroundings when you approach an ATM; if there are any suspicious-looking characters, rather walk away. h) Always log out of your online banking account when using a public internet facility such as an internet café.