Request For Proposals Are Invited For Development Of Financial Education Learning Framework For The Samoan CurriculumDeadline 31 May 19Posted 20 May 19Overview Terms Of Reference Development Of Financial Education Learning Framework For The Samoan CurriculumReview Of Financial Education Coverage In The School CurriculumLocationHomebased With Travel To Samoa RequiredApplication Deadline31St May 2019Type Of ContractFirmPost LevelInternationalLanguages Required EnglishDuration Of Initial Contract Working 15 Days BackgroundThere Has Been Unprecedented Regional Policy Support And Commitment To Inculcate The RegionS People With The Knowledge Skills And Habit Of Good Personal Financial Management These Include 2008 Coombs Declaration On Strengthening Financial Capability In The Pacific Promulgated By Pacific Finance Ministers Central Bank Governors Pifs And Donors 2009 Forum Education Ministers Meeting In Noting The Success Of The Samoa Enterprise And Financial Education Curriculum Efec Requested Undp Pacific Centre And The Pacific Islands Forum Secretariat Pifs To Work With Donors To Assist Other Pics To Implement Efec2009 Regional Financial Literacy Workshop Organized By Pfip Where Central Bank Governors Finance Ministry Officials And Practitioners Identified Financial Education In Schools As A Regional Priority2009 Forum Economic Ministers Meeting Endorsed The Four 2020 Money Pacific Regional Goals Which Among Others Called For All Children To Receive Financial Education Through Core Curricula SamoaS Maya Commitments In 2013 Commits To Mainstream Financial Education In School Curriculum 2020 Money Pacific Goals In Each Pacific Island Nation By 2020 Through The Combined Actions Of Public And Private Sectors Our Goals Are All Schoolchildren To Receive Financial Education Through Core Curricula All Adults To Have Access To Financial Education Simple And Transparent Consumer Protection To Be In Place To Halve The Number Of Households Without Access To Basic Financial Services Low Financial Competency Of Low Income Population According To The 2013 Survey Results Measuring Financial Competency Of Low Income Households In Samoa 1 The Overall Level Of Adult Financial Competence Is Low And Low Moderate See Table 1 Below Table 1 Levels Of Financial Competence By Competency AreaCompetency ScoreCompetency AreaHighNone Of The Competency Areas Were Scored As HighModerate HighCompetence With Managing Essential ExpenditureLow ModerateCompetence With Managing Regular And One Off ExpenditureCompetence With Setting Household Goals And PlansCompetence With Managing Household IncomeCompetence With Managing SavingsCompetence With Non Cash TransactionsCompetence With Managing Long Term SavingsLowCompetence With Keeping Household RecordsCompetence With Household BudgetingCompetence With Managing BorrowingCompetence With Identifying And Recording Household ExpenditureCompetence With Managing Requests For Financial AssistanceCompetence With Managing Cost Of Money The Study Also Revealed That Though Low Income Households Are Monetised They Have Limited Understanding Of Financial Terms And Conditions Most Low Income Households Are Unable To Undertake Money Management Tasks And Financial Services Activities They Consider Necessary They Are Generally Better Able To Manage Short Term Financial Activities Than Long Term Financial Planning Including Planning For Life Cycle Events Such As Education Marriage And Funerals The Lack Of Financial Knowledge Skills And Lack Of Access To Safe And Affordable Financial Services Are Among The Key Reasons Against This Background The Ministry Of Education Sports And Culture Mesc In Collaboration With The Central Bank Of Samoa Cbs And The Pacific Financial Inclusion Programme Pfip Is Planning To Introduce And Strengthen Financial Education Through The Core Curriculum In Schools To Build A Better Financially Educated Generation The Scoping Mission Will Assist The Mesc To Identify Ways To Achieve This Goal Through Developing A Detailed Implementation Plan Financial Education Scoping Mission 2015 In 2015 A Scoping Mission Was Undertaken Through The Joint Efforts Of The Mesc Cbs And Pfip To Ascertain The Best Form For The Introduction Of Financial Education Within The Samoa School Curriculum Together With Assisting Mesc To Identify Ways To Achieve This Goal Through The Development Of A Detailed Implementation Plan The Scoping Mission Observed Clear Linkages In Existing Subjects At Primary Junior Secondary And Senior Secondary Levels Where Financial Education Learning Could Occur Should Such Be Done Via Integration There Are Also Existing Learning Within These Subjects Which Could Be Further Built Upon It Was Discussed That The Primary School Level Subjects Of Samoan Mathematics English And Social Studies And The Secondary School Subjects Of Samoan Mathematics English Social Studies And Business Studies Would Be The Areas Of Integration The Mission Also Reported On Existing Synergies For The Timely Introduction Of Financial Education Within The Core Curriculum Duties And ResponsibilitiesScope Of Work The Activity Covers Both The Primary And Secondary School Curriculum At All Year Levels The Activity Involves Firstly A Stocktake Of Financial Education Across The Primary And Secondary Schools Existing National Curriculum And Documentation And Classroom Materials Issued Under The Existing National Curriculum These Are Inclusive Of The Subjects Identified Above And Any Other Subjects Where Necessary The Stocktake Will Be Presented As A Map Of Learning Outcomes The Activity Involves Secondly The Development Of A Complete Set Of Detailed Learning Outcomes Per Subject Area Across The Primary And Secondary School Curriculum And Identification Of Areas For Integration Of These Learning Outcomes Within Specific Subject Syllabi The Financial Education Learning Outcomes Must Be Worded In The Appropriate Language For Integration Into And Strengthening Of Existing Curriculum Documents In Order To Prepare The Detailed Framework Of Learning Outcomes By Subject Area The Broad Areas Of Review And Assessment Will Include But Will Not Be Limited To National Policy Vision And Expectations Of Financial EducationA Review Of The Current Education CurriculumTeaching And Learning ResourcesProcesses For Introducing Or Integrating New Learning Into The Curriculum Keeping In Mind Current Stages Of Progress Financial And Budgetary Situation Of The Ministry Of Education And Prospects For External Funding Support For Integration And Developmental Costs 5 In Making Recommendations On Curriculum Design And Changes The Following Must Be Seriously Taken Into Account And Appropriate Strategies Designed To Enhance Opportunities And To Mitigate Risks To Make Available Financial Literacy Learning To As Many Students As Possible Regardless Of Subject Streaming Over A Sustained Period As They Progress From Primary To Secondary School The Existing Human Capacities And Institutional Structures Within MescEnsure SustainabilityOptimize Ownership And Buy In By Mesc Staff Members Provincial Administration Students Parents The Private Sector And Other Key Stakeholders 6 The Consultants Will Consult With But Not Limited To The Following Stakeholders The Formal Education Sector I E Mesc Policy Planning And Curriculum Development And Assessment SectionsEducation And Training Services ProvidersCentral Bank Of Samoa And Stakeholders Working On The Agenda Of Finan
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