5. Week 2 Lesson Plan 1

NATIONAL CURRICULUM STATEMENT
ECONOMIC AND MANAGEMENT SCIENCES

LESSON PREPARATION
TERM 1
GRADE 7 SUBJECT EMS WEEK: 2 HOURS: 30 MINUTES PERIOD: 1
DATE STARTED: DATE COMPLETED:

TOPIC:
THE ECONOMY
HISTORY OF MONEY
LINKS WITH PREVIOUS LESSON: LINKS WITH NEXT LESSON(S):
 Activity 2: Bartering  Coins
CONTENT: KEY TERMS (VOCABULARY):
 Promissory notes Promissory notes, on demand, landlord, terms, loan
TEACHER ACTIVITIES LEARNER ACTIVITIES DURATION
BASELINE:  Learners need to spell and tell
Ask the learners to spell and tell the following words: Baseline: 5 min
the words given by the teacher.
Traditional societies, self-sufficient, bartering, negotiation
Explain to the learners the following:  Learners take their workbooks Lesson: 10 min
 Have you ever been given an IOU? out, listen and take down notes
 These letters stands for I Owe You. given by the teacher.
 Learners ask clarifying
 Sometimes, when friends borrow money from each other, they write an
questions.
IOU on a piece of paper, together with the amount of money.
 Sometimes when people need things they don’t have money with them,
they may use an IOU and give it to the person they are buying the things
from.
 This person keeps the IOU as a record of money that is owed to her or
him.
 Promissory notes are similar to an IOU.
 They are notes of agreement between two people in which one person
promises to pay the other person a certain amount of money by a certain
date or on demand (when the person who is owned the money asks for it).
 The notes are usually signed by the two people and have an official stamp.
 The original promissory notes were used before there was money.
 Farmers would ‘pay’ rent to the landlord (a person who owns the land or
building being rented) for the land they used and ‘buy’ seed from the
landlord using promissory notes.
 The farmer would sign a promissory note promising to pay the landlord
part of the crops.
 When the farmer harvested the crop, he or she would give part of the crop
to the landlord as payment and the promissory note would be cancelled.
 Banks still use promissory notes today.
 When you borrow money from a bank, they make you to sign a promissory
note that sets out the terms (conditions that need to be met) of the loan
(when you borrow money or something from a person or bank), including
the amount and how long you have to pay it off.
 Learners take their workbooks
out.
 Learners are allowed to ask
 Give learners Activity 3 to do as class work. clarifying questions
 Walk through the class and assist learners who struggle  Learners ask clarifying Activity 3: 15 minutes
 Mark activity with learners and answer questions posed by learners questions.
 Learners mark activity and do
corrections
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
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
Drama Other : Other :
RESOURCES: OHP/Whiteboard/ Chalkboard/Worksheets/Hand-outs, pencils, pens, Textbook(s), Charts, class notes.
TEACHER REFLECTION EXPANDED OPPORTUNITIES/ ENRICHMENT

 Assist learners who are struggling with the concepts.
Name of Teacher: HOD: _________________________________
Signature: ___ Signature: _____________________________
Date: Date: _________________________________

Support Material
Activity 3:
History of money: Promissory notes
Questions:
1. Write the abbreviation IOU out in full.

2. Describe how farmers used promissory notes in the days before money was used as a
medium of exchange.
3. Discuss how promissory notes have changed as a medium of exchange from the days
before money was used to today.
Support Material
Activity 3:
History of money: Promissory notes
Answers:
1. I Owe You
2. Farmers would ‘pay’ rent to the landlord for the land they used and ‘buy’ seed from the
landlord using promissory notes. The farmer would sign a promissory note promising to pay
the landlord part of the crop. When the farmer harvested the crop he/she would give part of
the crop to the landlord as payment and the promissory note would be cancelled.
3. Today promissory notes are official documents that banks use when clients borrow money
from the bank. When you borrow money from a bank they make you sign a promissory note
that sets out the terms of the loan, including the amount, and how long you have to pay it
off.

5. Week 2 Lesson Plan 1

Uploaded by

Copyright:

Available Formats

5. Week 2 Lesson Plan 1

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

5. Week 2 Lesson Plan 1

Uploaded by

Copyright:

Available Formats

NATIONAL CURRICULUM STATEMENT

ECONOMIC AND MANAGEMENT SCIENCES

GRADE 7 SUBJECT EMS WEEK: 2 HOURS: 30 MINUTES PERIOD: 1

DATE STARTED: DATE COMPLETED:

TEACHING STRATEGY/ METHODOLOGY

TEACHER REFLECTION EXPANDED OPPORTUNITIES/ ENRICHMENT

Name of Teacher: HOD: _________________________________

Signature: _ Signature: ___________________________

Date: Date: _________________________________

1. Write the abbreviation IOU out in full.

You might also like