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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

School of Open Learning opens access to education

2011-12-08

Lanterns filled the night sky as UFS staff and guests celebrate the launch of the School of Open Learning at the university’s South Campus.
Photo: Johan Pretorius

A school which intends to expand the boundaries of the University of the Free State (UFS), providing good quality higher education that is based on open learning principles. That is what the School of Open Learning at the UFS’ South Campus is all about. The School was officially launched at the Campus on 28 November 2011.

Prof. Daniella Coetzee, Dean of the School, told guests at the launch that the School will provide opportunities other than traditional learning in higher education and open up access to those who have not had the opportunity to study at a higher education institution. This includes taking programmes and courses to students at off-campus sites. The School of Open Learning currently has 46 off-campus sites across most of the provinces, i.e. Mpumalanga, KwaZulu-Natal, North West, Eastern Cape, Northern Cape, Limpopo and the Free State. The off-campus sites are serviced by a total of 350 university lecturers and well-trained facilitators and tutors.

At the moment most of the programmes and courses managed by the School of Open Learning have their academic home in the Faculty of Education, providing upgrading of the qualifications of teachers as well as in-service training. In 2011 the School of Open Learning enrolled more than 4000 students for the Education courses. To date a total of 28 000 teachers have been enrolled at the School to upgrade their teaching qualifications.

Collaboration with the Faculty of Law in the presentation of a BIuris degree on off-campus sites is also on the calendar for 2012. This degree will be offered through contact and E-learning at three off-campus sites: Johannesburg, Durban and Cape Town.

The University Preparation Programme (UPP) will also form part of the School of Open Learning. This programme has proven to be extremely successful in providing students access to undergraduate degrees at the UFS. The curriculum for this bridging year offers courses from the Faculties of Economic and Management Sciences, Human and Social Sciences as well as Natural and Agricultural Sciences. Since 1993 more than 4500 students have enrolled for degree purposes after successfully completing the UPP: 1641 degrees have been awarded to students who began their studies in the programme (including 168 honours degrees; 25 master’s and 8 M.B.Ch.B. degrees). The existing foundation course in the UPP is being adapted to also serve NQF level 4 in further education. As far back as 1998, the Sunday Times (Best in Education, 1998:1) named this programme as “one of the most innovative education programmes” in a special supplement on higher education in South Africa.

Also speaking at the event, Prof. Jonathan Jansen, Vice-Chancellor and Rector, said the South Campus is to become intellectually alive with possibilities. He said the university will make sure there are seminars, conferences and classes where students can mingle across the university’s three campuses.

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