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29 May 2019 | Story Valentino Ndaba | Photo Pexels
Prof Melanie Walker
Fostering human capabilities in universities may potentially transform education, says Prof Melanie Walker.
Education is at the centre of human life, and has the potential to be a crucial support for democratic life. Prof Melanie Walker’s recent research paper strikes a balance in dealing with people, education and the implications for democracy through the lens of human capabilities theory and practice and her own research.

People and papers

In her capacity as the SARChI Chair in the Higher Education and Human Development Research Programme at the University of the Free State (UFS), Prof Walker recently published a paper titled: Defending the Need for a Foundational Epistemic Capability in Education. It appeared in the special issue of the Journal of Human Development and Capabilities in honour of renowned Nobel Laureate Amartya Sen’s 85th birthday.

Nurturing epistemic justice

Within the context of existing literature such as that of Sen’s concern with the value of education on the one hand, and public reasoning on the other, Prof Walker argues for a foundational epistemic capability to shape the formal education landscape – as well as quality in education – by fostering inclusive public reasoning (including critical thinking) in all students. It would contribute to what Sen calls the ‘protective power of democracy’ and shared democratic rights, which, he argues, are strongly missed when most needed.

“Sen’s approach asks us to build democratic practices in our university and in our society in ways which create capabilities for everyone. If our students learn public reasoning in all sorts of spaces in university, including the pedagogical, they may carry this into and back to society,” she said.

Educating for equality

Empowering society and fighting for justice are some of the crucial contributions made possible through fostering the epistemic capability of all students. “The capability requires that each student is recognised as both a knower and teller, a receiver and a contributor in critical meaning and knowledge, and an epistemic agent in processes of learning and critical thinking,” states Prof Walker.

In a young democracy like South Africa’s, inclusive public reasoning becomes all the more essential in order to achieve equality, uphold rights and sustain democracy as enshrined in the constitution, thereby improving people’s lives. 

News Archive

Producers to save thousands with routine marketing strategies, says UFS researcher
2014-09-01

 

Photo: en.wikipedia.org

Using derivative markets as a marketing strategy can be complicated for farmers. The producers tend to use high risk strategies which include the selling of the crop on the cash market after harvest; whilst the high market risks require innovative strategies including the use of futures and options as traded on the South African Futures Exchange (SAFEX).

Using these innovative strategies are mostly due to a lack of interest and knowledge of the market. The purpose of the research conducted by Dr Dirk Strydom and Manfred Venter from the Department of Agricultural Economics at the University of the Free State (UFS) is to examine whether the adoption of a basic routine strategy is better than adopting no strategy at all.

The research illustrates that by using a Stochastic Efficiency with Respect to a Function (SERF) and Cumulative Distribution Function (CDF) that the use of five basic routine marketing strategies can be more rewarding. These basic strategies are:
• Put (plant time)
• Twelve-segment pricing
• Three-segment pricing
• Put (pollination)(Critical Moment in production/marketing process), and
• Pricing during pollination phase.

These strategies can be adopted by farmers without an in-depth understanding of the market and market-signals. Farmers can save as much as R1.6 million per year on a 2000ha farm with an average yield.

The results obtained from the research illustrate that each strategy is different for each crop. Very important is that the hedging strategies are better than no hedging strategy at all.

This research can also be applicable to the procurement side of the supply chain.

Maize milling firms use complex procurement strategies to procure their raw materials, or sometimes no strategy at all. In this research, basic routine price hedging strategies were analysed as part of the procurement of white maize over a ten-year period ranging from 2002–2012. Part of the pricing strategies used to procure white maize over the period of ten years were a call and min/max strategy. These strategies were compared to the baseline spot market. The data was obtained from the Johannesburg Stock Exchange’s Agricultural Products Division better known as SAFEX.

The results obtained from the research prove that by using basic routine price-hedging strategies to procure white maize, it is more beneficial to do so than by procuring from the spot market (a difference of more than R100 mil).

Thus, it can be concluded that it is not always necessary to use a complex method of sourcing white maize through SAFEX, to be efficient. By implementing a basic routine price hedging strategy year on year it can be better than procuring from the spot market.

Understanding the Maize Maze by Dr Dirk Strydom and Manfred Venter (pdf) - The Dairy Mail


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