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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

Diversity gains ground in SRC election

2005-08-19

The University of the Free State (UFS) reached another milestone in its transformation process last night (Tuesday 16 August 2005) when a more diverse group of students than ever before were elected to serve on the Main Campus SRC.

In addition to this, the UFS experienced a smooth and problem-free election process – unlike recent years when the Main Campus SRC elections were frequently disrupted or marred by attempts of intimidation or obstruction.

The election took place on Monday 15 August 2005 and the results were announced last night (Tuesday 16 August 2005) by Dr Ezekiel Moraka, Vice-Rector: Student Affairs at the UFS.

Seven black students are to serve on the Main Campus SRC, the highest number of black students ever to be elected on the Main Campus SRC since black students were admitted to the UFS in the late 1980’s.

Nine of the 18 SRC members were directly elected and nine on the basis of proportional representation (PR). The PR system was introduced after amendments to the constitution of the Main Campus SRC were approved by the UFS Council in June 2005.

According to Dr Moraka the elections on the Main Campus were a resounding success. “We received double the amount of votes this year: A total of 4 846 votes were cast, while 396 votes were spoilt. Last year only 2 192 votes were cast,” said Dr Moraka.

Dr Moraka said that there were no disruptions of the process and no objections regarding the voting process were received.

Mr Graeme Bradley, thirdyear student in B Com Human Resource Management, was elected as SRC President of the Main Campus for 2005/2006. Mr Bradley was SRC representative for Sports, Arts and Culture in 2004/2005.

In the PR section of the election, Here XVII (with 36,1% of the vote) and Sasco (with 36% of the vote) received an equal amount of seats (3) for the SRC. These percentages also provided them with fourteen (14) seats for the Student Parliament, which consists of 40 seats.

“This outcome is significant to us as, for the first time we have a clear indication of what the actual support of these affiliated organisations is on campus,” said Dr Moraka.

Media release

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

17 August 2005

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