Towards the end of last year I spent time reflecting on my progress and my teaching of the new Junior Cycle Business Studies specification. While generally satisfied with our work as a class, my big worry was that our efforts might not withstand the test...and time.
I began to realise just how much was involved in working through all of the learning outcomes. As an author team we had already spent close on time ‘unpacking’ them; trying to work out the knowledge, understanding, skills and values associated with each and every one. Our textbook (as is the case with every other textbook) represents one particular interpretation of what is required. We were extremely happy with our work and very confident it provides teachers and students with an excellent resource to assist their learning journey. Having said that, the journey looks a little different as we progress with it. The perspective is altered at each point on the road. It is certainly the case that my own view of the journey was different at the outset than it was when I glanced in the rear view mirror last June. At that point I was further along the road, a year closer to completion and a whole lot wiser. I suppose the specification and the textbook related to the ‘planning’ while the teaching was very much about the ‘doing’. Reflection was a necessary part of the process but it also created doubts. As with all change, it can be difficult to manage. It takes us out of our comfort zone and makes us question our ability at times. At the end of first year I knew plenty of progress had been made and the roadmap said ‘you are here!’ I was happy to be on the right track. The students were equally were happy, enthusiastic and better informed. In terms of the distance travelled, all was good. I switched my focus to the road ahead. Looking at the distance still to travel I wondered if it would be possible to cover it all in the time available. This is where the challenge lies and it takes a lot of self-belief to overcome. I suppose it’s a lot like running your first long distance race…you plan for it and train for it, but until you cross the finish line you don’t have the reassurance of knowing it’s within your capability. An added problem this time is that I was not entirely certain where the end line was, let alone what awaited me and my students when we got there. To some extent we just have to keep putting one foot in front of the other and continue running with the new material day after day. We also need to trust that all the preparation will pay off…and understand that our second race is likely to be easier. As business teachers running a brand new course, it’s important to be as prepared as possible (and I realise there are elements of personal and collective professional responsibility in that). I am now more confident that the journey will be completed on time, albeit that the final destination still remains just beyond sight. Perhaps the arrival of sample papers will help clarify this aspect and provide further reassurance and confidence. I have come to realise the absolute value and importance of the Business Studies Specification and the Learning Outcomes within it. The assessment guidelines are also incredibly valuable and insightful. Collectively, and when used effectively these really are a route map for teachers and their students. They are my ‘go-to’ documents which set out what I need to teach and indicate what my students will be assessed on. As a teacher this really helps alleviate some of my concerns about ‘the test’ and ‘the time’ Whenever I am uncertain about what to teach, or the level of detail required, I look to the specification for guidance. While there may still be the occasional doubt about scope and depth when it comes to teaching content, a glance at the action verbs associated with each learning outcome usually help clarify the requirement. I am also cognisant of the need to teach material which is age and stage appropriate and which suits the context of MY students. Having said all that I’m very happy our textbook. While not without the odd detour or minor misdirection I’m satisfied it reflects the specification very closely in terms of both content and spirit. In future blog posts I will offer specific suggestions about ways of working which may assist teachers to navigate the content and make optimal use of the time available to them. Learning Outcome 2.9
Develop a simple business plan for a new or existing business (Links to LO’s 2.2, 2.7, 2.8, 2.11, 2.12 and 2.13) In our view, the following are the key ideas and messages for this topic: Note that the work on this LO should follow on from LO2.8 (Marketing Mix)
Learning Outcome 2.8:
Devise and apply a marketing mix in order to promote a new or existing product or service. (Links to LO’s 2.2, 2.7, 2.9, 3.3) In our view, the following are the key ideas and messages for this topic:
Learning Outcome 2.7:
Conduct market research in order to investigate an entrepreneurial opportunity and analyse, interpret and communicate the research findings using relevant terminology and representations* * Graphs / infographics or other ways to (re)present data. In our view, the following are the key ideas and messages for this topic:
Learning Outcome:2.6
Discuss the impact of digital technologies on an organisation, debating the associated rewards and costs. In our view, the following are the key ideas and messages for this topic:
Last year we witnessed a sea change in Junior Cert Business education. Teachers were faced with a whole new specification, a lot of new material and a demand for new approaches to teaching. When you also consider the lack of CPD for so many teachers it was without doubt a pretty unique and challenging year.
Part of my rationale for writing a blog was the direct benefit to myself and my teaching. I felt the reflective aspect would force me to evaluate my own work and performance. I also hoped to offer my colleagues an insight into my experience and provide some degree of empathy and reassurance as they tackled the new material. I am grateful for all the positive feedback which I received during the year. Teachers I encountered were generally supportive of my undertaking and were full of questions about the new specification. I think these are positive outcomes and I would like to take this opportunity to thank those who took the time to read the blog and express their positivity about it. While my insight and information giving was certainly informal and ‘unofficial’ I was nonetheless pleased that it proved helpful and reassuring to many. We were all in the same boat last year and were all learning as we went along. This type of ‘learning by doing’ is difficult enough without having to operate in a dark vacuum, and needless to say mistakes were made…but it was good to know that others were making the same mistakes and were losing sleep over the same concerns. To paraphrase a well- known health promotion campaign, when it came to teaching the new Junior Cert Business specification it was indeed okay not to feel okay. So having ‘successfully’ managed to navigate our way through a very dynamic period, is there any genuine expectation that this year will offer some respite? Well, I don’t really expect that to be the case. I think there will be a lot more change this year, but at least some of it will be change for the better. Now that it will be possible for all teachers to receive CPD, there is the prospect of clarification and support. Doubtless it will raise issues and concerns for those teaching 2nd year classes. It will cause us to reflect critically on our work in 1st year and may involve validation or questioning of our efforts and effectiveness. It will certainly be an eye opener for those engaging with or teaching this new specification for the first time, but I feel it will be a positive development and will ultimately help us on our journey. It will hopefully fill that dark vacuum with both light and air. The second ‘new’ element facing us this year is the Classroom Based Assessment (CBA). That is without doubt THE biggest worry for most of the teachers I have spoken to. It really does seem to be a big change and a very big concern. Hopefully our fears are unfounded, but implementing change is rarely without its problems. Doubtless I will have an opportunity to write about this issue in future posts, but for now, looking at the year ahead, CHANGE seems to be the only constant in all of this. Having said that I remain positive about many of the changes and about the future. I am also taking strength from the successes achieved last year. These are interesting and challenging times for us and our students, but I for one like things to be interesting and enjoy a challenge. Let’s hope my positivity is not misguided. For those who may not have seen them yet, the following websites provides a lot of very valuable information and will help with some of the issues mentioned above: http://www.curriculumonline.ie/Junior-cycle/Junior-Cycle-Subjects/Business-Studies http://www.jct.ie/business_studies/business_studies Learning outcome 2.1:
Identify different types of financial, cultural and social enterprise and appreciate the role each plays in society. (Links to LO's 2.5, 3.6) In our view, the following are the key ideas and messages for this topic:
Learning Outcome 1.13
Monitor and calculate income and expenditure data, determine the financial position, recommend appropriate action and present the analysis in tabular and graphic formats. Links to LO’s 1.2, 1.5, 1.12 and 2.12 In our view, the following are the key ideas and messages for this topic:
Learning Outcome 1.11
Interpret a wage slip and calculate personal tax liability arising from employment. (Links to LO’s 1.2, 1.4, 1.12, 3.4, 3.5)
Learning Outcome 1.10 Discuss and evaluate how globalisation and developments in technology impact on consumer choice and behaviour. (Links to LO’s 1.2, 1.7, 1.8, 1.9, 2.6, 2.7, 2.8, 3.1, 3.7)
Learning Outcome 1.9.
Debate the ethical and sustainability issues that arise from their consumption of goods and services and evaluate how they can contribute to sustainable development through consumer behaviour. Links to LO’s 1.7, 1.8, 2.5, 3.3 and 3.6 In our view, the following are the key ideas and messages for this topic:
Learning Outcome 1.8
Compare the services provided by consumer agencies and financial institutions to assist and support customers (links to LO 1.5, 1.7 and 1.9) In our view, the following are the key ideas and messages for this topic:
SURVIVAL: an introduction to economic concepts For the past few years I have used the following activity to introduce my Junior Cycle students to some key economic concepts. I have developed this activity based on something I came across online many years ago. I have refined it over time and have tried to make it accessible for Junior Cycle students. In the past I’ve generally used this activity at the beginning of 3rd year, but this year I used it with my 1st year class. They enjoyed it immensely and seemed to understand both the concepts and the aim of the activity. This is very much a ‘doing’ activity and it will require students to move freely around the room in order to interact with each other and with the materials provided. It will not be a quiet class, but it a very engaging class which opens many possibilities for the effective teaching of economics. Just close the door and let them have fun with it! They will enjoy the activity and they should also learn a lot. The entire activity can be completed in a double class, or perhaps more ideally, two single classes. This activity really ties in with the definition of economics (Strand 3) and explores the choices people make when faced with scarce resources (LO 3.1, 3.2). It also resonates with some Strand 1 concepts including needs and wants (LO 1.1). I provide students with a 1 page handout and read through it with them at the beginning of the lesson. It reads as follows: OPENING SCENARIO: The entire class group has been lost on an Arctic island with little hope of rescue. THE OBJECTIVE IS SURVIVAL. In order to survive, each person must produce ONE FISH, ONE IGLOO and ONE PONCHO. The handout also contains clear instructions on how to produce each of the items required for survival. All items are made from paper or light card. (see photo below) The Fish: represents the need for food. I have created a stencil for this item, which I provide to students and they are allowed to trace it. The fish must be produced on a paper of a specific colour and the fish eye must be a different colour. You will need to instruct the students during the initial briefing about which colours to use for each item. This very much depends on what’s available to you.
The Poncho: represents the need for clothing. This must be measured and cut out as per the instructions on the handout. Initially this item required stapling, but I have since done away with this aspect and I allow students to make it as a one-piece item. The Igloo: represents the need for shelter. This needs to be measured and cut out as per instructions on the handout. Students must draw lines to represent blocks of ice. Before they begin the activity, I generally show the students examples of these items (which I have prepared). These templates are made to scale and will provide students with a better understanding of what is required. It is very important to emphasise to students that the reproduction of these items must be exact in every detail. Any items which do not meet the specifications will not count towards survival. Students must only use the material provided by you at the beginning of the activity. They should all be placed together on a desk. For a class of 25 students you will need to provide the following materials / resources to students: RESOURCES REQUIRED: 8 – 10 A4 sheets of light green* paper (for the fish). The stencil size allows for 3 or 4 fish per sheet. 8– 10 A4 sheets of yellow* paper (for the poncho). 8- 10 A4 sheets of white paper (for the igloo). 1 A4 sheet of blue* paper (for the fish eye). 6 or 7 pencils. 3 rulers. 2 compasses (from geometry sets). 1 glue stick. This is used to glue to eye to the fish. The lid of the glue can be used as a stencil, or you can provide a small coin. 4 – 6 pairs of scissors. *You can use whatever colours you have available, but it is important to try use different colours for each item. This helps ensure that these resources are scarce and can’t be used interchangeably. Once you have read through the instructions and shown the templates to the students give those 20 minutes to complete the task. Emphasise again that in order to survive it is necessary for each student to have one fish, one poncho and one igloo at the end of the allocated time. DEVELOPMENT: You will probably find that the activity descends into a free-for-all. Some students will grab many of the resources while others may have none at all. After a while students may ask if they can work together. This is allowed, though it is probably best just to tell students that they are allowed to work however they wish just so long as they have the required items at the end of the activity. You may also notice some evidence of barter and /or theft. There may also be a small number of students who are short on resources and simply sit in their seats for the duration. Unless absolutely necessary just ignore all of this and let the activity develop and conclude. Try just to stand back and observe the activity as the students complete their work. Once the 20 minutes has elapsed the students must cease all work. Ask any students who have all 3 of the required items to come forward. Check that the items meet the requirements and make note of the number of survivors from the group. My experience suggests it is likely to be a small number. At this point it’s important to collect all of the materials, including unused paper and any work in progress. It is also necessary to gather up all completed fish, ponchos and igloos which have not been brought forward by the ‘survivors’. It is very important that students do not retain any materials or completed items. This is because the activity will be repeated after a short period of reflection and discussion. TIMEFRAME (35 - 40 minutes) Introduction: 5 mins – read the handout and explain the activity. Don’t inform the students that it is related to economics. Making the items: 20 minutes – allow time for students to produce food, clothing and shelter as required. Clean up: 5 minutes – Gather all completed resources, count survivors, collect all other resources and materials. Reflection and discussion: 5 minutes - Discuss the activity with the students. Try to tease out what worked well and what didn’t. Discuss how the students could increase the survival rate. Ideally the students will develop a strategy for this. This is likely to involve greater levels of teamwork and greater sharing of resources. For example the students may suggest creating three groups and perhaps dividing the resources according to the requirements of each. From experience, the igloos tend to be the most difficult and slowest item to make. The ponchos are generally the quickest. Once a strategy has been developed, allow the students to repeat the activity. This can be completed in the next class, or the second half of a double class. Hopefully they will work more co-operatively and more efficiently. It is almost certain that there will be a greater number of survivors second time round. Ideally the entire group will survive, with time to spare. There is also likely to be increased specialisation of labour. LINKS TO THE SPECIFICATION: In subsequent classes you can introduce the definition of economics and ask the students to consider how the survival activity relates to this definition. They will generally identify that they had needs, that their resources were limited and that they had to make choices about how best to allocate those resources. You can also use it to illustrate the factors of production: Land = Fish / Ice (paper) etc. Labour = the students (workers) Capital = Scissors, compass, ruler (tools and equipment) Enterprise = the students will provide this insofar as they will combine land, labour and capital in order to produce good which satisfy their needs. With an enthusiastic class you could also examine their actions and choices in greater depth. For example: Who provided and allocated all of the resources? Does this represent a centrally planned or free market approach? What happens to any surplus individual items during the first attempt at the activity? For instance, some students may have completed only 1 or 2 of the required items at the end of the activity. If these individual items are combined it will be possible for some extra students to survive. If so, how will this be decided? This deals with allocation of finished goods. If the group produces surplus items or has the capacity to do so in round 2, you could explore the possibilities associated with this situation. For example, if there was another Island nearby, it may be possible for surplus resources to be exported and exchanged for additional goods which will satisfy more needs and wants. I use this activity because it really helps students to get a feel for the key concepts of economics. It also assists my teaching….and both the students and I always enjoy doing it. Learning Outcome 1.7
Distinguish between and appreciate their rights as consumers. (Links to LO’s 1.2, 1.8, 1.9, 3.1) In our view the following are the key ideas, knowledge, skills and values associated with this topic: Students need to gain an appreciation of their rights and responsibilities as consumers. It may be necessary to help students understand the difference between a right and a responsibility. Some knowledge of consumer protection legislation would seem appropriate here (Sale of Goods & Supply of Services Act 1980 and Consumer Protection Act 2007). Informed consumers should shop around for best value and make considered purchasing decisions. They will seek information, carry out research and investigate options. They will generally avoid impulse buying and falling into the trap of false economies. Consumer responsibilities arise from efforts to be informed and ethical about purchasing decisions. Assessment in this area may focus on the actions and behaviours which arise from their appreciation of these rights and responsibilities. It may examine how their knowledge and values impact upon their consumer choices. Once students have developed a clear understanding of their rights and responsibilities it is also important to consider how their actions will impact on the lives of others and on the future of their communities. The concepts of sustainable and ethical consumption are important. This has strong links to L.O. 1.9.
Here is a copy of my 1st Year February exam. This was my first attempt at setting a 'significant' exam for this course and students had 90 minutes to complete the assessment. It was a real challenge to work out both the content and the timing and I had to reassure students that I would bear that in mind when correcting their work. The fact that it was a common level exam for a mixed ability class added to my difficulties and there is always a balance to be drawn between challenging the most able students, while also being fair those with less ability. That balance applies not only to the content, but also to the timing of the assessment. In the end I added a crossword to the exam and told students to attempt this activity only after all other questions had been completed. I took the crossword from the student activity book, but have not included it here.
At this point I can say that most students completed all questions and activities in the 90 minute timeframe. A few students did not get the crossword completed, so I did not include that when scoring the assessment. All in all, the material included here could be completed by most students in 60 minutes. I tried to create an assessment which had a 'storyline' running through it... though on reflection, maybe this worked against students with poor literacy skills? I also attempted to assess a range of knowledge, understanding, skill and values. As I said at the outset, this was my first attempt, I'm sure there are improvements to be made in the future, but as with everything associated with this new specification it's a work in progress. I hope by sharing it with teachers it will provide you with some food for thought.
Click here to download a copy of the test
Co-author of Time for Business Joe Stafford teaches Junior Cycle Business Studies in a mixed ability setting in a co-educational school with four 40 minute classes per week. He is currently sharing his experiences of teaching the new Junior Cycle Business Studies specification for the first time. (Chapter 8 of Time for Business)
This topic has strong links to LO 1.8 and is also relevant for LO’s 1.2, 1.3, 1.4, 2.1 and 2.6. The material dealt with in the chapter provides students with knowledge and understanding of the role and importance of financial institutions. It outlines the array of financial services on offer to households and individuals and should provide students with a strong foundation for further study of related topics including savings and borrowing. Yet again this is a familiar topic for those of us who have been teaching the ‘old’ Junior Cert Business Studies syllabus and I don’t think I changed my teaching approach too much from what I’d done in the past. I did however make a lot more use of the activities in the textbook and student activity book and felt this helped to dilute what can be an ‘information heavy’ topic. As ever students enjoyed the ‘doing’ aspects associated with filling forms and foreign exchange calculations, though a small number of students found the numeracy element challenging. It was a big advantage that so many of my students already had personal experience of financial institutions. The vast majority had at least one account in at least one financial institution. I made a particular point of examining the impact of digital technology on personal banking (links with LO 2.6 and TFB chapter 21). Students undertook some research and prepared posters and infographics outlining the how to use an ATM and the importance of PIN security. This was the first time that we made a concerted effort to develop infographics and the standard of the work varied widely. I think it was partly my fault and in future I will make sure to discuss and agree the success criteria with students in advance of the activity. I hope this will provide them with greater clarity and will lead to better quality infographics. I also made use of the following link (a UK website) in order to enable students to practice using an ATM: http://moneymatterstome.co.uk/Interactive-workshops/ATM.htm This worked really well on the interactive white board and students were able to explore a range of services on offer. Finally I focused quite a bit of attention on the bank statement. I think the ability to analyse this document is a very important skill for students to acquire. Do you listen to podcasts? There are thousands of podcasts produced each week all around the world. One that we have recently found is called 'How I Built This'. Each week famous entrepreneurs are interviewed about what prompted them to start their business, what challenged them during the start-up phase, what skills and characteristics they needed to get their business up and running. Businesses featured include:
Below is a mind map for Chapter 4: Financial Planning for Your Future, made with GoConqr. Copy and edit this mind map or encourage students to create their own to revise.
Below is a sample mind map for Chapter 3: Household Expenditure. This mind map was created using GoConqr. If you create a free account for GoConqr, you can copy and edit this mind map. Students can also be encouraged to create their own mind maps using GoConqr or other online tools, or simply using pens and paper.
As mentioned in a previous post, students can be encouraged to create their own mind maps either by hand or by using online tools such as GoConqr.
Below is a sample mind map for Chapter 2, Household Income. LEARNING OUTCOME 1.12:
Prepare and analyse a budget, determine the financial position, recommend appropriate action and present the analysis in tabular and graphic formats. In our view the following are the key ideas and messages for this topic:
Have you ever played Bingo? You may have played it at your local bingo hall or have even played Telly Bingo from the National Lottery. However, did you know that playing Bingo with students is an excellent way to develop their subject-specific vocabulary and improve their oral and written literacy? Given the huge amount of new terms that students encounter when they begin to study Business Studies, it can be a great way to learn new words in a fun way. Teachers can create Bingo cards using online tools such as My Free Bingo Cards. Teacher bingo calling cards are created as well as student cards. Students will start with a grid filled with terms. The game can then be played in a variety of ways:
Below are links to some pre-generated bingo cards for chapters in 'Time for Business'. When you click on the links below, select the 'Print 30 Free Cards' link. If you plan on playing Bingo with students each year, you might consider laminating the student cards so they can be reused in the future. Chapter 1: Making the most of your resources Chapter 2: Household Income Chapter 3: Household Expenditure Chapter 4: Financial Planning for Your Future Chapter 5: Household Budgets Chapter 6: Recording Income and Expenditure Having studied Household Budgeting (Learning Outcome 1.12) and Analysed Cash Books I deviated a little from the scheme of work outlined in the Teacher Resource Book. I had always felt that the ‘personal financial lifecycle’ (see Time for Business Chapter 4 and LO 1.3) represented something of a capstone element for Strand 1. To me at least, it seemed more appropriate to provide students with a detailed insight into to each of the individual elements (budgeting, taxation, pensions, insurance etc.) before finally connecting all of them at the end through the creation of a realistic and comprehensive personal financial life cycle. During most of the writing process for the textbook, this had been my intention and approach but I later decided to reorder the chapters so as to follow the Learning Outcomes’s (LO's) more sequentially. It should be pointed out that there is absolutely no requirement to follow the chapters, or indeed the LO’s, in any specific order. Having said that, there are clearly some concepts that are more fundamental than others and also some related chapters that make up distinct ‘units of learning’. As I reviewed the material again in preparation for my class, I began to feel that my initial instincts had been valid and in some sense this LO was misplaced. It strengthened my conviction to deal with each element in turn before tying the whole lot up with the life cycle later in the year. At the same time I still wanted to reinforce the idea of making plans to suit changing personal circumstances and aspirations (see household budgeting), so I spent just one class outlining the concept of a personal financial life cycle to students. I really just used the infographic on page 30 of TFB textbook to start a discussion on changing financial needs. I put the diagram on the whiteboard and we had a ‘chat’ about what it meant. We also looked at the case studies for Emily and Priyal on page 33 of TFB textbook. The students contributed really well to this discussion although their knowledge and understanding was superficial in some areas. Overall though they really seemed to grasp the basic premise that financial needs change over time and planning should reflect those changes. We did not however get into any detailed discussion of issues like taxation, insurance or pension planning. If the intention of the new specification is to “meet the students where they are”, it was clear to me that some of them at least were not quite at a stage where pension planning or taxation was on their radar. I only spent a single 40 minute class on this topic. I will return to it at a later date, having completed the chapters on household finance, insurance and taxation. I feel students will have a better understanding of the issues at that point and should be in a better position to prepare a realistic personal financial life cycle. Immediately after the section on household budgeting we tackled Chapter 6 which deals with recording income and expenditure in the analysed cash book. The most relevant Learning Outcome here is 1.13: Monitor and calculate income and expenditure data, determine the financial position, recommend appropriate action and present the analysis in tabular and graphic formats. Once again this is a topic which is very familiar to teachers of the ‘previous’ Junior Cert curriculum and I didn’t approach or teach it any differently than I had done in the past. I emphasised the difference between the PLAN of what was expected to happen (household budget) and the RECORD of what actually occurred (Analysed Cash Book). At the outset at least this is very much a ‘teacher led’ topic as students need to be made aware of the basic rules, layout and procedures involved in recording financial information. Once they had a good grasp of these issues I spent a lot of time checking student work. At this stage the emphasis changes to a ‘learning by doing’ approach and the students had a lot of opportunities to practise their technique. As I observed student work I was focusing on their ability to correctly apply the book keeping rules as well as emphasising the need for neat and presentable work. Inevitably the ‘balancing’ and ‘totalling’ tasks proved to be the most problematic for students. We worked through all of the questions in the Student Activity Book and I got students to complete many of them in Record Book 1. While I am aware that some other textbooks don’t seem to be promoting the use of Record Books for book keeping, when writing 'Time for Business' we have taken the view that this is a useful ability for students to acquire, especially if they are likely to keep personal financial records or go on to study accounting. We completed this unit of learning by combining the material in chapters 5 and 6 and looked at budget comparison statements (chapter 7). The focus here was on analysing outcomes, identifying deviations from the plan and using the analysis to inform future planning. It remains to be seen whether this is a specific requirement for the new JC specification but we felt that this approach helped students to appreciate the difference between financial planning and record keeping. Perhaps more importantly it enabled them to see planning as one step in a process (see financial control cycle diagram on p59 of TFB textbook) and understand that just making budgets is not enough. Plans need to be checked and evaluated against expectations and actual outcomes. The idea is to get students to reflect on the differences; figure out why they happened and how they can be avoided in the future. All in all this is the essence of effective financial planning, and to my mind, goes to the very heart of LO’s 1.12 and 1.13. Chapter 5: Household Budgets Having completed the previous chapters on household income and expenditure I decided to move straight to the section on household budgeting. It just seemed more logical to tackle the chapters in this order…or maybe it was just force of habit. Learning Outcome 1.12 appears the most relevant here: “prepare and analyse a budget, determine the financial position, recommend appropriate action and present the analysis in tabular and graphic formats." (See the separate blog on LO. 1.12 for further discussion of this topic) For those who’ve been teaching the previous, pre-2016 Business Studies syllabus, there is plenty of familiar material here, but the new specification has a distinct change of emphasis when it comes to the topic of household budgeting. While the ability to prepare a budget is an important skill, there seems to be a much greater focus on analysis and interpretation of the financial plan. A capacity to critically analyse and ‘make sense of’ the figures is much more in keeping with the spirit of the new specification. The references to ‘determining the financial position’ and ‘recommending appropriate action” provide strong and obvious clues to the shift in emphasis. There is also a requirement to use appropriate tables and/or charts to illustrate key patterns and findings and this is certainly a new departure from the more numerate approach of old. Something old… I began by sticking to the ‘old stuff’ and consolidating the material from previous income and expenditure chapters. Students again seemed to enjoy the ‘doing’ and ‘calculating’ part of this topic and most were soon able to complete the question templates with both speed and accuracy. The Student Activity Book (SAB) provided plenty of questions for students to practise and develop their skills. As ever, the final three lines of the ‘traditional’ household budget cause a few problems... both with understanding and with application, but a step-by step walk-through of one question resolved most issues. Further practice and a handful of one-to-one explanations helped clear up the rest. Something new… I made a point of focusing on the ‘budget outcomes’ for each activity. After a few unsuccessful and ‘experimental ad lib’ attempts in class (that’s code for winging it!), I retrospectively generated a worksheet to guide student thinking for budget analysis. In hindsight it might have been helpful to include this in the SAB or Teacher Resource Book (TRB), but the need wasn’t as obvious at time of writing and really only became more apparent as students began to engage with the material. I suppose that reflects a major benefit of being both an author and a practicing teacher and having learned from the experience I am at least in a position to pass on my insight. When analysing the household budgets I used the worksheet to focus student thinking on the key issues and insisted that they provide evidence to support all of their answers. A copy of this worksheet is available to download at the end of this post. Questions included:
We next tackled some revised budget questions. We made a decision to include these in the book because they reflect the dynamic nature of household financial planning. They enable students to clearly see the need to adapt household planning in order to produce a budget which is appropriate to the changing financial circumstances of a household. Similar thinking can be applied to the inclusion of budget comparison statements which again reflects the link between planning and the financial reality facing a household. In the context of the learning outcome, having analysed the financial position and found the budget to be unrealistic the recommended course of action must surely be to prepare a revised budget which is more in keeping with the households financial circumstances. Introducing a digital element… In the past I would never have used ICT to teach this topic; let’s face it, there was never any need or encouragement to… but this new specification sometimes requires, and often promotes the use of digital elements. So, I took the class to the computer room for two forty minute periods. I prepared for the class by pre-saving a blank budget template in the dropbox on the school server. I used the Morgan budget on page 36 of the SAB. All students were able to access this file and I showed them how to enter data and to create formulas in order to calculate totals, net cash, opening cash and closing cash etc. Most students were excellent at this and I really was pleasantly surprised as how quickly they mastered the technology (only two had used Microsoft Excel previously). Many students were able to work ahead of my explanations, which I delivered via digital projector, and this allowed me to engage in small group work with the remainder. By the end of the classes all students were capable of correctly completing a digital version of the Morgan and El Masri budgets. Had time (and computer room access) allowed I would certainly have availed of this technology to help with the section on revised budgets. The fact that the digital version updates all the calculations whenever a number is changed makes it ideal for revised budgets, but at least students were able to engage with the technology and appreciate its benefits. I will definitely make more use of this approach when teaching this topic next time round. * I am aware that there is a digital resource which can be used to generate pie charts from a given set of figures. It was developed for use with an Edco maths book. I had an opportunity to try it out while writing the textbook. I will enquire again about having it added to our digital resources. There may also be some free resources available online. |
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February 2017
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