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01 April 2021 | Story Dr Nitha Ramnath | Photo Supplied
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

Teacher professionalism and status under Commonwealth radar
2010-03-26

 
From the left are: Ms Simone De Cormarmond, Chairperson: Commonwealth Foundation; Prof. Jonathan Jansen, Rector and Vice-Chancellor, University of the Free State (UFS); Mr Samuel Isaacs, CEO: SAQA; and Dr Carol Anne Spreen, Lecturer at the University of Maryland, USA).
Photo: Ian van Straaten


International delegates attending the 5th Annual Commonwealth Teacher Research Symposium held at the University of the Free State (UFS) in Bloemfontein this week unanimously agreed that more research still had to be done on issues of recognition, registration and standards affecting teachers and teaching across Commonwealth countries.

This two-day gathering of researchers, officials and representatives of regional international organisations and higher education institutions agreed that issues of teacher migration, the professionalism of teachers, teacher preparation and the use of teaching standards, as well as the comparability and recognition of teacher qualifications should be further researched.

The delegates agreed on the following based on the research and data that were presented and shared with all the participants:

Teacher migration is recognised as an increasing global phenomenon that requires ongoing research in the Commonwealth.
Recognising that inequalities and differences within and across Commonwealth countries exist, and considering that fair and ethical treatment in the international recruitment of teachers is an important cornerstone of the Commonwealth Teacher Recruitment Protocol.

Teacher training, the recognition of teacher qualifications, the professional registration of teachers and the development of professional teacher standards should be actively encouraged through ongoing pan-Commonwealth research.

An increased acknowledgement of the role of the professionalisation of teachers through an improved understanding of teacher qualifications and standards.
There should be a specific research focus on teacher preparation and the use of teaching standards.

An increased comparability and recognition of teacher qualifications across Commonwealth countries should be actively encouraged.
Advocacy of teachers’ rights, effective protection of the vulnerable teacher, and appropriate strategies should be promoted to uplift the status of teachers and teaching as a profession.

The Commonwealth Teacher Recruitment Protocol, amongst other things, aims to balance the rights of teachers to migrate internationally against the need to protect the integrity of national education systems, and to prevent the exploitation of the scarce human resources of poor countries.

Delivering his keynote address at the symposium, the Rector and Vice-Chancellor of the UFS, Prof. Jonathan Jansen, decried the quality of professional qualifications in South Africa.

“We have become very good at manufacturing outcomes. We actually have become very good at giving an impression of having achieved particular outcomes without having achieved them at all,” he said.
“So what does it mean to talk about outcomes in an unequal country with unequal resources? What does it mean to talk about qualifications when we do not trust the outcomes?”

He suggested that the teaching profession should be subjected to a peer review mechanism and that the practice of setting minimum standards should be dealt away with because it results in minimum outcomes.

Dr Carol Anne Spreen, lecturer at the University of Maryland in the USA, proposed that countries should improve the quality of their own teachers instead of importing teachers from other countries.

The research symposium was organised by the Commonwealth Secretariat and hosted by the South African Qualifications Authority (SAQA) and the UFS.

Media Release
Issued by: Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt@ufs.ac.za  
26 March 2010

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