1.7 Managing finances

ECONOMIC AND MANAGEMENT SCIENCES

Grade 5

LOOK BEFORE YOU LEAP

Module 10

MANAGING FINANCES

Assignment 1

Every month, there are many things for which your parents have to pay. Ask them to help you draw up a list of 10 services or goods for which they have to pay money every month. Also ask them to indicate the percentage of the expenditure alongside the specific services or goods for which they pay.

[LO 1.1]

(b) Draw a bar graph to indicate the five goods or services on which our parents have to spend the most money every month.

Organise a class discussion to determine whether the five biggest expenditures of all the households are the same. If they are not, try to determine reasons for the differences.

Assignment 2

Do you have any daily / weekly / monthly duties? Provide a brief job description of at least five tasks for which you are responsible.

Do you do these tasks faithfully?

Why?

[LO 3.1]

Assignment 3

What are the qualities of a good manager? Place a cross in the appropriate column:

[LO 3.1]

BACKGROUND:

Each manager’s leadership style is different. There are three main styles, namely the democratic, the autocratic and the laissez faire style.

A democratic leader involves the members of his team in decisions and encourages them to express their opinions.

An autocratic leader is task-oriented and does all the planning and thinking on his own.

A laissez faire leader allows everyone to do what he / she wants to and as they want to and makes no effort to manage his team.

Assignment 4

Each educator at the school has duties that he / she has to fulfil. Your class educator will provide your group with a duty roster of the staff. Select an ordinary educator (± five years of teaching) and a department head (±10 years of teaching) and list all the responsibilities of each one.

Name of ordinary educator:

Duties:

Name of department head:

Duties:

Is there a noticeable difference between the duties of the two educators?

If so, can you motivate it?

[LO 1.1]

Assignment 5

You have just been elected class captain. List al the duties and responsibilities that class captains should have.

[LO 3.1]

Assignment 6

The workers at the school do not have enough time any more to clean the classrooms daily. Your class educator has assigned the organisation of this task to you. Learners in the class will have to take responsibility for cleaning the class in turn.

Make a list of what has to be done every day, e.g. beating out the blackboard erasers.

Plan how you will go to work so that each one in the class will have a turn to clean the class (e.g. a duty roster).

When will the class be cleaned?

How will you exert control?

What will you do about learners who neglect their duties?

What will you do if a learner is absent on the day that he / she has a turn to do duty?

[LO 3.1]

Assessment

LO 1

THE ECONOMIC CYCLEThe learner is able to demonstrate knowledge and understanding of the economic cycle within the context of the economic problem.

We know this when the learner:

1.1 differentiates between the different levels of needs that people have, and explains how these might be satisfied;

LO 3

MANAGEMENT, CONSUMER AND FINANCIAL KNOWLEDGE AND SKILLS

The learner is able to apply and demonstrate, in a responsible manner, knowledge as well as a range of management, consumer and financial skills.

We know this when the learner:

3.1 participates and demonstrates some management and leadership roles in the classroom and home in the absence of adults;

Assignment 1

This is a homework assignment that learners can complete with their parents.

Have a class discussion on household expenditures, and deduce which expenditures are most common.

(a) Possible answers / expenditures

Groceries goods

Water and electricity service

Telephone service

Home instalment goods

Car instalment goods

Fuel goods

School fees service

Clothing goods

Savings service

Policies service

All the expenditures together must be 100% in total.

Learners are given the opportunity to manage certain tasks.

Can differ

Assignment 2

Assignment can be completed individually at home.

Assignment 3

The qualities of a good manager are discussed with the class. The first five qualities can be completed by the class as a group and thereafter the last ten should be completed individually and assessed.

1. No

2. Yes

3. Yes

4. No

5. Yes

6. No

7. Yes

8. Yes

9. Yes

10. Yes

11. Yes

12. No

13. No

14. Yes

15. Yes

Assignment 4

The different management styles are explained to the class. The job descriptions of the teachers at a school can be handed out to groups and the assignment can then be completed.

Can differ

Assignment 5

Learners must be made to realise in this exercise that to be chosen as a class captain is not only a privilege, but that it also involves certain responsibilities.

Can differ

Assignment 6

Learners are given the opportunity to manage certain tasks.

Can differ