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CertifiedEducation quality
10/2025
Thuma Mina Teaching
Thuma Mina Teaching
Economic and Management Science (EMS)
Registration
Not required
Offline play
Playable offline
The pedagogical analysis covers how the product supports learning of the identified skills. The student’s role is assessed by four contrary pair parameters, which are selected to cover the most essential aspects on the use of the product.
The following are the high educational quality aspects in this product.
This product supports independent, self-paced learning, helping students build a strong understanding of core EMS concepts beyond the classroom. It is a versatile solution.
The supported learning goals are identified by matching the product with several relevant curricula descriptions on this subject area. The soft skills are definitions of learning goals most relevant for the 21st century. They are formed by taking a reference from different definitions of 21st century skills and Finnish curriculum.
Subject based learning goals
Entrepreneurship: Levels and Functions of Management - Understand management levels: top, middle, and lower. Describe key management tasks: planning, organising, leading, controlling. Compare different management styles (autocratic, democratic, laissez-faire).
The Economy: Discuss factors affecting quality of life (e.g. unemployment, development, environmental impact).
The Economy: Differentiate between self-sufficient and modern societies.
The Economy: Analyse the influence of the National Budget on economic growth and addressing inequality.
Financial Literacy: Apply double-entry bookkeeping using “T” accounts. Post from CRJ and CPJ into the General Ledger. Balance accounts and prepare a Trial Balance.
Financial Literacy: Cash Receipts Journal (CRJ) and Cash Payments Journal (CPJ): Understand layout, purpose, and function. Record cash transactions accurately. Analyse effects of transactions on the accounting equation.
Financial Literacy: Understand sequence: transactions → source documents → journals → General Ledger → Trial Balance → Financial Statements. Recognise importance of record-keeping.
Financial Literacy: Identify and use receipts, deposit slips, invoices, till slips, cheques, bank statements.
Financial Literacy: Accounting Concepts: Key concepts: capital, assets, liabilities, income, expenses, profit, loss. Apply the accounting equation: Assets = Owner’s Equity + Liabilities. Understand roles of cash transactions and banking in a sole trader context.
Traditional societies; bartering; promissory notes; coins; paper money; electronic banking; the role of money
Goods and services; examples of goods and services; producers and consumers; the role of households as producers and consumers; using goods and services efficiently and effectively; how to recycle and reuse goods to satisfy needs and wants
Basic needs of individuals, families, communities and countries; primary and secondary needs; unlimited wants; limited resources to satisfy needs and wants
Entrepreneurship: Factors of Ownership - Explore types: sole traders, partnerships, close corporations, private and public companies. Analyse characteristics, advantages/disadvantages, and their contribution to job creation and sustainable development.
The Economy: Understand types of markets: Goods and services markets and Factor markets (labour, financial)
The Economy: Understand the structure and functions of different levels of government (local, provincial, national).
The Economy: Understand government spending on services like education, healthcare, security, etc.
The Economy: Recognise how market structures operate and influence supply and demand.
The Economy: Identify sources of government income (direct and indirect taxes).
The Economy: Examine government roles in resource use and service delivery to households and businesses.
Personal savings; purpose of savings; history of banks; the role of banks; services offered by banks; opening a savings account at a bank; community savings schemes; financial organisations; financial institutions and organisations promoting entrepreneurship
Definition of production; inputs and outputs; sustainable use of resources; meaning of economic growth; meaning of productivity; the effect of productivity on the economic growth; technology in the production process; contribution of technology to improving productivity and economic growth
Causes of socio-economic imbalances; inequality in South Africa; education and skills to fight inequality and injustice; urban and rural challenges; creating sustainable job opportunities
Entrepreneurship: Factors of Production: - Identify the four factors: capital, labour, natural resources, entrepreneurship. Understand different types of labour and fair employment practices. Explain remuneration for each factor.
Needs and wants of consumers; analysis of strengths, weaknesses, opportunities, threats (SWOT); setting goals; achieving goals; the concept of advertising; media used in advertising; principles of advertising; budget for Entrepreneur’s Day; use of recycled material; simple cost calculation – variable cost, fixed cost, selling price
Definition of an entrepreneur; characteristics of an entrepreneur; skills of an entrepreneur; entrepreneurial actions of buying, selling, producing and making a profit
Definition of a budget; income; expenditure; a personal budget; business budget
Personal income; personal expenses; types of personal income; personal statement of net worth; types of income that businesses receive; types of expenses that businesses have; savings and investments in businesses
Capital; assets; liability; income; expenses; profit; losses; budgets; savings; banking; financial records; transactions
Formal and informal businesses; types of businesses (trading, manufacturing and service) that are both formal and informal; advantages and disadvantages of formal and informal businesses; the role of formal and informal businesses as producers and consumers; the effect of natural disasters and health epidemics on formal and informal businesses
Hosting of Entrepreneur’s Day; income and expenditure statement
Soft skills learning goals
Practicing to use information independently and interactively
Practicing to notice links between subjects learned
Learning to combine information to find new innovations
Encouraging to build new information and visions
Learning to build information on top of previously learned
Practicing to notice causal connections
Connecting subjects learned at school to skills needed at working life
Practicing decision making
Learning to plan and organize work processes
Learning consumer knowledge and smart economics
Encouraging positive attitude towards working life
Learning to notice causal connections
Practicing time management
Creating requirements for creative thinking
Practicing to observe spoken and written language
Learning about cultural aspects and to respect different cultures
Developing problem solving skills
Practicing versatile ways of working
Learning to understand the meaning of rules, contracts and trust
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