Economic Management Sciences : Grade 7

EMS is a practical subject that equips learners with entrepreneurial skills, financial knowledge and real-life skills for personal development and the development of the community. The main topics in EMS are the Economy, Financial Literacy and Entrepreneurship are integrated to assist learners to become economically and financially literate. EMS forms the foundation for the FET subjects Accounting, Business Studies, and Economics. The subject of Economic and Management Sciences deals with the efficient and effective use of different types of private, public or collective resources to satisfy people’s needs and wants. It reflects critically on the impact of resource exploitation on the environment and people. It also deals with the effective management of scarce resources to maximise profit. The purpose is to equip learners with the knowledge, skills, values, and attitudes that will enable them to adapt, participate and survive in an economically complex society. The Learning Area also aims to promote productivity, social justice, and environmental sustainability. The EMS curriculum is divided into three topics, namely the economy, financial literacy, and entrepreneurship. An overview of the content of this subject entails the following: • The economic problem and the economic cycle • Sustainable growth and development • The business of managing money • Entrepreneurs in business