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Department of Economics and Finance took hands with alumni students in writing a book

01 April 2021 | Story Dr Nitha Ramnath | Photo Supplied

Personal finance authors_web read more — Back: Dr Nico Keyser (editor), Dr Ivan van der Merwe. Front: Minette Weideman (Portfolio Manager at Levevis Investment and Consulting Services), Melanie Ferreira (Business Development Manager at Allan Gray), Dr Cecile Duvenhage (editor) and Lizelle Jansen van Rensburg (Lecturer). Dr Jesse de Beer (Lecturer at University of Namibia) was absent.

Two lecturers from the Department of Economics and Finance at the University of the Free State (UFS) teamed up with alumni – who were once students in their department – to write a book on personal finance. This book is the latest hands-on application of the theory in practice.

“From the book it is evident how our alumni – who once were learners – became educators and contributed to teaching and learning,” says Dr Cecile Duvenhage, Lecturer in the Department of Economics and Finance, about the book Personal Finance. The desire to write this book stems from previous studies done by Dr Duvenhage and Dr Nico Keyser, Senior Lecturer, on the financial literacy levels among young adults.

One such study was published in the Journal of Psychology in Africa (29(4):460-465). According to the study, young adults lack the basic understanding of financial aspects. Theory can be learned by heart, but the understanding and execution of well-informed financial decisions need to be addressed. Thus, the book was written in such a way that it is easy to understand, and with the aim of changing financial behaviour and attitude in a positive manner. The book provides useful websites and appendices for additional information and reading, and is aimed at the man on the street, researchers, and practitioners.

Acording to the authors, during the writing of the book in 2020, new challenges arose, including the dramatic impact of COVID-19 on the financial market, and these aspects were included during the final stages and editing of this book.

“Why personal finance? ‘Money makes the world go round’, the saying goes. Good financial decision making has a positive influence on overall well-being, allowing people to maximise their opportunities and lead more fulfilling lives. Personal finance teaches individuals financial skills so that they can manage their money better. The subject, Personal finance, is an interdisciplinary subject and encompasses many areas and core topics such as decision making, cash-flow management, savings, credit, debt, housing, and planning for the future.”

Personal Finance (first edition) was published by Van Schaik Publishers and has been available from leading bookshops since the end of December 2020. All chapters were critically reviewed by three (3) university lecturers and a qualified editorial panel.

News Archive

UFS plans to improve undergraduate pass rate

2005-01-13

The University of the Free State (UFS) will introduce a new foundation programme this year 2005 in an effort to improve the academic performance of undergraduate students.

According to Mr Francois Marais, Head: Centre for Higher Education Studies and Development (CHESD) at the UFS, the programme will assist students by providing for the development of cognitive and critical thinking skills by means of the integration of appropriate thinking skills (such as creative thinking, decision-making, problem solving, reasoning, and how to learn), into the subject content of university courses.

“The foundation programme will benefit students from disadvantaged school backgrounds and, in future, those whose performance in proficiency tests points to the need for additional development in, for example, language proficiency, mathematical literacy, computer skills and life skills,” says Mr Marais.

Based on their level of achievement in the final Grade 12 examination (Senior Certificate), students will be referred to the foundation programme.

In order to improve students writing and reading abilities for higher education studies, foundation programme students will be offered academic language courses in English and Afrikaans.

Kovsie Counselling will render appropriate services, eg career guidance and support to these students.

The new foundation programme will be implemented in the faculties of Natural and Agricultural Sciences, Economic and Management Science, the Humanities and Law.

The duration for this programme differs from faculty to faculty. In the Faculty of Law it will take five years, while in the faculties of the Humanities, Natural and Agricultural Sciences, and Economic and Management Sciences it will take four years.

The national Department of Education will fund the foundation programme for three years. Funding for such programmes was made available to all higher education institutions in South Africa.

The welcoming function for all new first-year students and their parents will take place on Saturday 15 January 2005 at 11:00 in the Callie Human Centre on the main campus in Bloemfontein.

The registration of first-time entering first-year students who applied before 30 November 2004 to study at the Bloemfontein campus will take place from Monday 17 January 2005 to 21 January 2005 at the Callie Human Centre.

Senior undergraduate students (that is, students entering their second or later year of study) may register from 22 to 29 January 2005.

Postgraduate students, first time entering first year students and other students who applied for admission to the main campus after 30 November 2004 must register at the Callie Human from 31 January 2005 to 4 February 2005.

Due to the limitations placed by government on student numbers, the applications of students who applied late will be regarded as pending and will be processed as places become available.

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
13 January 2005

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