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Economic Wellbeing & Financial Capability and the National Curriculum Aims
Economic wellbeing and financial capability has a distinctive contribution to make to the aims of the national curriculum. The economic wellbeing and financial capability programme of study provides opportunities to plan sequences of work, learning outcomes and teaching approaches that develop:
- Successful learners
- The aim of developing successful learners who are literate, communicate well in a range of ways, have enquiring minds, and learn independently and collaboratively is at the heart of the programme of study for economic wellbeing and financial capability. These essential learning skills are developed through the key processes of enterprise, self-development, exploration, financial capability and an appreciation of underpinning economic principles.
- As they develop their understanding of the nature of economic wellbeing, pupils ask and answer important questions, evaluate evidence, identify and analyse different interpretations of relevant situations, and learn how to substantiate their arguments and judgements.
- Developing an understanding of the concepts and processes which contribute to economic wellbeing and financial capability gives pupils the opportunity to engage with a range of complex issues, and provides a rich and varied context through which they develop many of the skills essential to becoming successful learners.
Pupils learn about and experience a range of ideas that will help them to develop enterprising attitudes, to make decisions about transition to further learning and work, and to evaluate economic alternatives in their personal and working lives. The combination of enterprise and financial capability enables pupils to develop a ‘can-do’ approach to all aspects of their lives and provides the skills needed to analyse and evaluate alternative pathways through life.
- Confident individuals
- The curriculum aims to develop confident learners who have a sense of self-worth, make informed choices, become increasingly independent, are open to the excitement and inspiration offered by the enterprise of others and have the potential to develop their own.
- Economic wellbeing and financial capability stimulates an interest in and engagement with pupils’ current and future roles and their relationship with the wider economy. The combination of enterprise, work-related learning and financial capability gives learners the ability to deal with uncertainty and to take calculated risks. Analytical and evaluative skills are developed through a wide range of activities that place pupils in real and simulated situations where they have to make decisions based on available evidence.
- Active involvement in activities designed to develop economic wellbeing and financial capability assists the development of self-confidence, and therefore helps young people to present themselves more effectively and to believe in their own ability to achieve.
- The combination of knowledge and skills taught in economic wellbeing and financial capability fires an excitement that is often exhibited through the initiative and skill that pupils demonstrate in work-related activities such as business simulations and enterprise activities.
- Pupils learn to respond with confidence, developing coherent and substantiated arguments. Participation in group discussion, and the increasing use of a range of different media for presenting their work, help pupils to develop confidence when performing and to appreciate the value of working with others.
- Responsible citizens
- Economic wellbeing and financial capability prepares pupils for future life as active and responsible citizens. The subject equips pupils with knowledge and skills that are valued in adult life, enhances their employability, and develops their ability to take part in a democratic society, encouraging them to question what they are told on the basis of evidence. Economic wellbeing and financial capability also encourages understanding of the way the economy works in local, national and global contexts.
- The knowledge and skills developed in economic wellbeing and financial capability give pupils opportunities to investigate questions relating to their roles as consumers, producers and citizens. Awareness of the social and moral dilemmas that arise from the use of money leads pupils to question their own activities as well as those of others.
- In addressing these questions, pupils develop a better understanding of some of the key issues concerning the world today, which in turn helps them to appreciate the importance of making a positive contribution to the communities in which they live.
Personal Wellbeing and the National Curriculum Aims
Personal wellbeing has a distinctive contribution to make to the aims of the national curriculum. The personal wellbeing programme of study provides opportunities to plan sequences of work, learning outcomes and teaching approaches that develop:
- Successful learners
- Personal wellbeing creates successful learners by helping pupils identify their abilities, skills and strengths and therefore increasing their confidence and self-esteem. It teaches pupils research skills and helps them use information to weigh up options and make informed choices. Pupils are encouraged to reflect critically on themselves and their behaviour and to set and meet personal targets.
- Personal wellbeing develops the social skills of communication, negotiation, assertiveness and collaboration, enabling pupils to learn successfully as individuals and as members of teams, groups and communities.
- Confident individuals
- Developing confidence, self-esteem and a strong sense of identity lie at the heart of personal wellbeing. The programme of study centres around pupils recognising and reflecting on their skills, qualities and attributes in order to make the most of their abilities. Pupils gain confidence by knowing where to look for advice and guidance on matters related to health and relationships, and by providing advice and guidance to others. Using social skills to build and maintain a range of healthy and positive relationships enables pupils to feel confident in developing existing and future friendships and relationships and resisting unhelpful peer influence.
- Responsible citizens
- Personal wellbeing offers opportunities for pupils to work collaboratively as members of groups and teams and take responsibility for providing information to others. By developing social and emotional skills they can make positive contributions to families, schools and communities. By exploring similarities and differences between people, and recognising and accommodating diversity within society, they can demonstrate empathy with others and challenge prejudice.
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