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National Curriculum

Economic wellbeing and financial capability, personal development and Every Child Matters

Personal development is a vital part of the key stage 3 curriculum and economic wellbeing and financial capability has a distinctive contribution to make in this area. The economic wellbeing and financial capability programme of study provides opportunities to plan sequences of work, learning outcomes and teaching approaches that support personal development through the five Every Child Matters outcomes.

Enjoy and achieve

Economic wellbeing and financial capability offers opportunities for pupils to develop a strong sense of engagement with their learning. The knowledge and skills they are developing can affect the way they lead their lives. This experience is highly motivating for pupils and can influence achievement across the curriculum.

Enterprise activities are fun. Pupils gain a sense of achievement when they run a business effectively. Developing a product, marketing it and selling it is challenging and exciting. Even when first attempts don’t succeed, young people often learn from the experience and try again. Taking risks in this context is highly motivating.

Pupils value the ways in which economic wellbeing and financial capability helps them to achieve across the curriculum and in the world beyond, by developing their abilities to communicate clearly and effectively, to solve problems, and to work in teams. Learners develop a strong sense of satisfaction when they discover that they can influence their own destiny.

Be healthy

Economic wellbeing and financial capability makes an important contribution to pupils’ emotional and mental health, by helping them to develop and maintain self-esteem and to envision a positive future for themselves. Through developing a sense of personal identity the subject encourages pupils to take charge of their own destinies for career progression.

In managing risk and dealing with social and moral dilemmas, there are often no ‘right’ answers. Developing these skills helps pupils at a time when they may be dealing with other complex issues in their own lives – for which there are also often no ‘right’ answers. The concepts, processes and content of economic wellbeing and financial capability enable pupils to put values, expectations and pressures in perspective.

Stay safe

Pupils learn to stay safe, not only through understanding risk and developing safe working practices while engaged in work experience and enterprise activities, but also through evaluating alternative pathways and strategies in a wide range of different activities.

Economic wellbeing and financial capability gives pupils the confidence to question things and not accept them at face value. The subject provides them with the skills to examine the validity of what they read or are told, and to challenge it on grounds of evidence or reasoned analysis. Being aware of bias and inaccuracies when they are exploring sources and discussing situations and dilemmas helps them make the right choices to stay safe.

Achieve economic wellbeing

The concepts, processes and content of the programme of study for economic wellbeing and financial capability aim to ensure that on leaving school pupils are ready to move into further education, employment or training. Pupils are guided to make informed decisions about their progression routes in order to achieve their personal objectives for economic wellbeing and to make an active contribution to their community.

Economic wellbeing and financial capability helps pupils develop the qualities and skills needed to enter and thrive in the working world. The programme of study encourages pupils to be adaptable, to find creative solutions to problems, to plan and prepare for putting across their views and ideas for maximum effect, and to work effectively in groups. The subject also develops pupils’ ability to engage in critical research, to evaluate evidence, to identify and analyse different interpretations of issues and events, and to substantiate their arguments and judgements. All these skills and attributes are valued by employers. Economic wellbeing and financial capability also helps pupils understand the importance of literacy, numeracy and communication skills, essential in many jobs.

Make a positive contribution

Economic wellbeing and financial capability provides many opportunities for pupils to make a positive contribution, through working collaboratively on group activities and getting involved with the local community. Work experience and enterprise activities both provide opportunities for pupils to make a positive contribution outside the classroom.

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See also

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