FINANCIAL LITERACY IN THE SCHOOL CURRICULUM

For the 21st century citizen, financial literacy is a must. The current campaign by more than 200 MPs to embed it into the core subject of Maths is a belated recognition of its importance. However financial literacy does not end with talking about finance or talking finance but FINANCIAL CAPABILITY.

Underlying the concept of financial capability are certain crucial societal strands best described as cultural.The culture of saving money and making it work, the avoidance of instant gratification through debt and the overarching sense of individual responsibility are paramount to a financially aware population. If these strands are not fostered by the family and society the end result may be a financial chattering shop society. Making money work is a talent as well as a skill which can be nurtured. It may also be well worth noting that entrepreneurship and the spirit of enterprise do not depend exclusively on number crunching but on risk taking, creativity and resourcefulness. As the widening of the middle class is considered as a significant factor of a prosperous society, does this mean the preponderance of a PAYE psyche actually stimulates economic activities? 

What should be the content and syllabus for financial capability in the school curriculum and how would it be related to other areas of the whole school curriculum? Would there an element on how to be alert to rip off schemes?

Concerns have been expressed on the involvement of the banking sector in providing the content of materials and personnel to the schools. While assurances are pledged about the independent nature of content and staff, would they include how to teach the pupils to detect dodgy policies and products and how to read the small print of any contractual agreement bearing in mind that some of the worst mis-selling scandals are the high street banks themselves?

We need a critically aware, financially alert literate population without being slaves to the great God Mammon.

So much for Latin

Magna Carta or Charta
The prime minister, David Cameron, recently quizzed on an American TV show, seemed to have fumbled or stumbled over the meaning of Magna Carta or Magna Charta. Unlike his Tory compatriot,Boris Johnson, the Mayor of London,who has a classics background,the prime minister has not been privileged to have studied Latin and understandably faltered.

However with or without Latin,there are citizens from the Commonwealth who know the meaning of Magna Carter or Charta as the Great Charter obtained from King John in 1215 and is the basis of English political and personal liberty.Among the associates of the top toffs would they not have come across their American counterparts from the Ivy Leagues universities, who may have graduated with magna cum laude i.e.with great distinction? Champayne may flow easily in all political parties celebrating victories or defeats, may it not possibly be magnum? Is Magna that terribly foreign?


What about Plebs?
A quote from Harry Mount on the use of pleb allegedly used by Andrew Mitchell, the conservative's chief whip.

Pleb is the short form for plebeian(Latin) which means low born, common people what the Americans refer to as blue collar.

"By classical standards, Andrew Mitchell's alleged use of the word pleb in an altercation with Downing Street police officers this month was incorrect as well as disgusting. In the terms of the ancient world, not only is the policeman a pleb but also the Conservative chief whip himself , his fellow MPs and most of the house of Lords. Perhaps only a few dukes and the Queen and her immediate family are not plebs-although they are far too grand to use such a horribly de haut en bas term...

Through the 20th century, the word was employed as derogatory slang-James Joyce and HG Wells used it that way in their books.In his 1962 novel, A Murder of Quality, John le Carre wrote "Mrs. Rode's quite decent...in a plebby sort of way: doyleys and china birds."  - "Latin lessons for latter-day plebs", Financial Times 28th September 2012

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England's 'examinations industry'

Essential reading for all  who are interested in education:

England's 'examinations industry': deterioration and decay

A report from the HMC on endemic problems with marking,awarding, rerearks and appeals at GCSE and A level 2007-12 September 2012

pdf download from HMC leading independent schools

GCSE ENGLISH(subject) FIASCO 2012

Photograph: David Levene/Guardian

GCSE is the gateway to A levels and employment

In the January sitting the early candidates were marked "generously" as reported by Ofqual(Office of Qualifications and Examinations Regulations) in June.As Ofqual has stated, the issue is the January grade boundaries which were retrospectively found to have been graded generously.Therefore the resultant change came midway to set the right level for the June Exam marking.

 WHY MIDWAY? WHAT IS THE BASIS FOR REACHING SUCH A DECISION AND SUCH TIMING?

Changing grade boundaries and thereby creating a differentiation in marking between two sets of candidates sitting for the same exam is a very serious decision which has immediate and long term implications as evidenced by the furore from the teaching profession, professional associations, unions and the public at large.

In order to appease the anticipated response Ofqual offers an early re-sit for the June candidates.

IN THE NAME OF MAINTAINING STANDARDS IS THIS AN ISSUE OF GRADING OR RE-SIT? THE FORMER CONCERNS THE EXAMINER AND THE LATTER, THE CANDIDATE.

In the meantime the Welsh Education Secretary,Leighton Andrews has ordered WJEC(JOINT WELSH EDUCATION COMMITTEE)BOARD on 11th September to regrade the June GCSE English papers in the name of justice. WJEC is a Welsh board with more candidates in England than in Wales.
The Welsh education secretary has the power to order this.Michael Grove, the English counterpart, has declined to intervene.

AS WALES CAN GO AHEAD WITH THIS DECISION,WHAT WILL HAPPEN TO THOSE CANDIDATES FROM ENGLAND WHO TAKE THE GCSE FROM OTHER ENGLISH BOARDS?

It is important to bear in mind that while the education system is the same in England and Wales, Ofqual, described as a partner of the Department of Education and the Department for Business, Innovation and Skill,is not directly controlled by the government but reports to Parliament.

AS A REGULATOR AND ACCREDITOR OF QUAFICATIONS WHO IS OFQUAL ACCOUNTABLE TO ULTIMATELY? WHAT DOES THE GOVERNMENT MEAN BY HAVING EDUCATIONAL PARTNERS OF WHICH OFQUAL IS ONE AMONG OTHERS? HOW CLEAR IS THE CHAIN OF COMMAND?

WHILE MICHAEL GOVE IS ENORMOUSLY SYMPATHETIC TO THE STUDENTS, HIS PREOCCUPATION WITH THE EXAM ITSELF, THAT IT REQUIRES COMPLETE REFORM HAS NOTHING TO DO WITH THE IMMEDIATE ISSUE OF THE DIFFERENCE IN GRADING.DOES THIS INDICATE THAT THE POLITICAL UNDERLYING AGENDA IS NOT TO IMPROVE GCSE BUT TO REVERT TO THE O LEVEL EXAM AS FAVOURED BY THE EDUCATION SECRETARY.

Most of the Olympic medal winners come from private schools

A class and education issue?!

Certain sports have been traditionally associated with a privilege background:tennis and golf especially, so-called "white" sports. As we all know Tiger Woods has broken through the golf barrier and so have the Williams sisters in tennis.They are all Black Americans who do not come from privilege backgrounds.Boxing is an interesting case. Over the period of time boxing has been the sport which has enabled minorities such as,the Jewish and black communities, to fight through poverty and disadvantage.As for fencing and archery which are very culturally contained,euro centric,the limited uptake is understandable.On the other hand Ping Pong has evolved in such a way that it is now an international sport.

However,is there any sport in the world which is so culturally endowed and constrainted making it totally inaccessible to "outsiders"? I would assume the answer is no.There are always highly talented,dedicated and motivated individuals who will rise up to the challenge and achieve their goals.So much for the essential role of government's role in providing facilities and training, it is interesting to note how many winners' families have been instrumental in enabling their achievement.

Ming Tsow