The Economic and Management Sciences Learning Area deals with efficient and effective use of different types of private, public or collective resources in satisfying people’s needs and wants, while reflecting critically on the impact of resource exploitation on the environment and on people. The inclusion of Economic and Management Sciences is crucial in equipping learners with the knowledge, skills, values and attitudes that will enable them to become economically literate. This will enable them to adapt to, and participate and survive in, an economically complex society and to promote productivity, social justice and a healthy environment. These attributes are vital for the learner in order to make a contribution to a democratic society in the South African context.
EMS has its own unique features and scope and deals with:
- The nature, processes and production of goods and services (economic problem — society’s unlimited needs and wants in the face of limited resources — and economic cycle).
- The South African economy and socio-economic systems in different countries (Economic environment, reconstruction, sustainable growth and development).
- Financial management (including investments) and planning skills, for private, public or collective ownership (leadership and management; financial and consumer knowledge and skills).
- Entrepreneurial skills and knowledge needed to manage self and the environments effectively (entrepreneurship).
Economic Management Sciences is a combination of other subjects, namely: Business Economics/Studies; Accounting; Economics and Entrepreneurship.
Economic and Management Sciences aims to:
- Develop entrepreneurial opportunities
- Explore education and career opportunities
- Identify and solve problems and make decisions using critical and creative thinking.
- Work effectively with others as members of a team, group organisation and community
- Collect, analyse, organise and critically evaluate information
- Participate as responsible citizens in the life of local, national and global communities