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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 hosts Commonwealth universities

2005-08-25

The University of the Free State (UFS) in Bloemfontein will host delegates from 14 universities across the Commonwealth next week as part of a programme to measure and promote excellence in university management.

The workshop will be held from Monday, 29 August to Wednesday, 31 August 2005 as part of the Commonwealth University Management Benchmarking Programme, run by the Association of Commonwealth Universities (ACU).

It is the first time that the UFS will host the workshop and the second time that it is held in South Africa.

“The purpose of the programme is to promote and measure excellence in university management. Unlike other university benchmarking programmes that focus on matters such as research output, the programme run by the ACU follows a process benchmarking approach and aims to identify and promote best practice and quality assurance,” said Prof Magda Fourie, Vice-Rector: Academic Planning at the UFS.

According to Prof Fourie the programme runs on an annual basis and works on a quality improvement cycle. Every year certain areas of university management are evaluated by a panel of international assessors. This year it focuses on strategic planning, recruitment and retention of staff, and branding.
If weaknesses are identified, plans are compiled which should result in an upward spiral of continued quality improvement.

“The UFS has been taking part in the programme for the past five years. Last year we fared particularly well with the evaluation of our change management and engagement with the community,” said Prof Fourie.

“The ACU benchmarking programme is a useful forum in which we can measure ourselves against our peers. It will also help us to prepare for the audit of the effectiveness of our quality assurance policies and systems, which will be conducted in October 2006 by the Higher Education Quality Committee (HEQC) of the Council for Higher Education (CHE),” said Prof Fourie.

Other universities that will take part in the workshop include the Leeds Metropolitan University, the University of Glamorgan in the United Kingdom, the University of Northern British Columbia in Canada, the Central Queensland University, the Monash University in Australia, and the University of the Witwatersrand (Wits).

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

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