NATIONAL CURRICULUM STATEMENT
ECONOMIC AND MANAGEMENT SCIENCES
LESSON PREPARATION
TERM 2
GRADE 7 SUBJECT EMS WEEK(S): 7-8 HOURS: 30 MINUTES PERIOD: 2
DURATION:
DATE STARTED: DATE COMPLETED:
TOPIC:
FINANCIAL LITERACY
BUDGETS
LINKS WITH PREVIOUS LESSON: LINKS WITH NEXT LESSON(S):
Investments in a business Income and expenditure
CONTENT: KEY TERMS (VOCABULARY):
Characteristics of a budget Budget, income, expenses, expenditure, surplus, deficit.
TEACHER ACTIVITIES LEARNER ACTIVITIES DURATION
BASELINE:
Ask the following question to learners
Learner’s answer the questions ask by
Q: Describe the term budget in your own words. Baseline: 5 min
the teacher.
A: A plan of how much money you have and how you intend spending
it / an estimate of future income and expenditure. Savings mechanism.
WHO PREPARE BUDGETS? Learners listen, take notes and answer Lesson: 15 min
Individuals, households, businesses, government and non-profit any questions that the teacher poses to
organisations are examples of groups who prepare budgets. them in class.
Different types of budgets (for example a cash budget) will be
prepared for different groups. Learners ask questions for clarity and
THE PERIOD OF A BUDGET write down notes in their workbook.
The purpose and time period should be considered when
preparing a budget. Learners complete notes in their
A personal budget is usually planned for every month. workbooks or paste notes in their
A budget for a business will usually cover a number of months or workbooks.
even years.
CHARACTERISTICS OF A BUDGET
A budget must be realistic.
A budget must be flexible
Help you to save money
Help you not to spend too much money
Give and explain to learners complete Activity 1 for class/ Learners complete Activity 1 in their
homework. work books.
Learners start in class and finish at Activity: 10 minutes
Teacher walks through the class and help learners with
problems. home
TEACHING STRATEGY/METHODOLOGY
Co- operative learning Lecture / Direct instruction
Discussion Visual/ Practical Demonstration
Explanation Simulation
Observation Use of technology and instructional resources
Question and answer Role playing
Pre-test Interviews
Other : Other:
ASSESSMENT
FORM TOOL METHOD
Data Response Poster Memorandum Baseline
Project Class work Rubric with criteria Formal
Case Study Homework Checklist Informal
Control Test Assignment Observation Sheet Educator
Examinations Class Test Other: Self
Debate Data Response Peer
Drama Other : Discussion Other : Whole class
RESOURCES: OHP/Whiteboard/ Chalkboard/Worksheets/Hand-outs, pencils, pens, Textbook(s), Charts, class notes.
TEACHER REFLECTION EXPANDED OPPORTUNITIES/ ENRICHMENT
Use either PowerPoint presentations, colourful charts or adjust the
_______________________________________________________ font size of notes for learners who are visually impaired.
_______________________________________________________
Allow for peer teaching to accommodate learners who do not
_______________________________________________________ speak the language of instruction.
_______________________________________________________
_______________________________________________________
_______________________________________________________
Name of Teacher: ____________________________ HOD: _________________________________
Signature: _________________________________ Signature: _____________________________
Date: ______________________________________ Date: _________________________________
Support material
ACTIVITY 1:
Introduction to budgets
Answer the following questions in your work book.
1. What is a budget?
2. What do you understand about the following about a budget:
2.1 a budget must be realistic
2.2 a budget must be flexible
2.3 a budget can help a person to save money
POSSIBLE ANSWERS
1. A budget is a plan of how much money you have and how you spend it.
2.1 Amounts cannot be too high or too low, for example, a person knows he/she must pay rent
for R4 000 but put R3 500 in his/her budget.
2.2 You can adjust your budget as you go on.
2.3 Budget in such a way that you have money left over to save. Don’t spend money on
unnecessary expenses.
