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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

Academic produces another book

2009-12-01

Academic, author and motivational speaker, Dr Michael van Wyk (pictured), has written another book titled Cooperative learning as a teaching strategy for the classroom: A practical guide for economics teachers.

His latest offering provides a sound theoretical framework and practical ways on how to implement the different cooperative learning techniques. It unpacks the practical aspects of the outcomes-based approach, the National Curriculum Statement for the Further Education and Training phase and cooperative learning techniques for the economics classroom.

This easy-to-read book offers a thorough introductory text for economics teachers and economics students, as well as lecturers and researchers.

“This theoretical and practical guide will support Economics teachers to present their subject in practical ways that are meaningful and learner centred,” he said.

“If this can be achieved, learners will engage effectively in the subject and an interest in the learning content may be evoked.”

The book covers the following aspects:

It introduces the foundations of the outcomes-based education approach (OBE) and the new curriculum model for South African schools.
It examines the theoretical underpinnings and practical application of cooperative learning as a teaching strategy.
It provides practical guidelines for application of cooperative learning techniques.

“This book gives an outline, in a constructive way, on how to apply the cooperative learning techniques such as Teams Games Tournaments (TGT), Student Teams Achievement Divisions (STAD), role-play, simulations, Economics quizzes, small group teaching and research projects in the classroom,” he said.

“These techniques have the potential to make a positive contribution to the enhancement of academic performances, development of social skills and an improvement of the learning skills of the learners.”

The book is designed as a theoretical and practical guide for Economics Education students, Economics teachers, Learning Area Economics and Management Science facilitators, Curriculum developers, Economics subject advisors, researchers and trainers; for the successful implementation of cooperative learning as a teaching strategy.

Dr Van Wyk is a staff member of the Department of Curriculum Studies in the Faculty of Education at the University of the Free State (UFS). He also serves on the board of the South African Foundation on Economics and Financial Education (SAFEFE).

Photo: Mangaliso Radebe

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