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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

JN Boshoff Memorial Lecture: Dr Charles Nwaila

2005-09-13

Dr Charles Nwaila, Director-General of the Free State Provincial Government and Vice-Chairperson of the University of the Free State's (UFS) Council, recently discussed the repositioning of the Free State Provincial Government to respond to the 21st century demands during the JN Boshoff Memorial Lecture at the UFS.

From left: Dr Nwaila; Prof Tienie Crous, Dean: Faculty of Economic and Management Sciences; Prof Frederick Fourie, Rector and Vice-Chancellor and Dr Moses Sindane, Departmental Chairperson: Department of Public Management at the UFS.

A summary of the lecture.

Free State government to focus on training of public servants

The Free State provincial government in collaboration with higher education institutions in the province is to establish the Free State Association of Public Administration to get public servants to work effectively towards the growth and development of the province.
This was announced by the Director-General of the Free State provincial government, Dr Charles Nwaila, during a lecture he delivered at the University of the Free State (UFS) in Bloemfontein this evening (Thursday 8 September 2005).

Delivering the annual JN Boshoff Memorial Lecture at the UFS, Dr Nwaila called on higher education institutions to play a critical and leading role in the re-engineering of the existing Provincial Training and Development Institute housed at the Vista campus of the University of the Free State in Bloemfontein.

Dr Nwaila was formerly the Superintendent-General (head) of the Free State Department of Education and currently serves as the Deputy Chairperson of the Council of the University of the Free State.
He said the proposed Free State Association of Public Administration is a joint initiative with the National Academy of Public Administration based in Washington DC.

“We take this opportunity to invite the University of the Free State and other knowledge based institutions to join the Provincial Government in fostering a collaborative network to help us develop our public servants,” Dr Nwaila said.
He said there were accelerating demands and a lot of pressure on limited resources, with Free Staters expecting more from their government than ever before.

“Civil servants in a developmental state are servants of the people, champions of the poor and the downtrodden and not self-serving individuals that seek only advancement on the career ladder,” Dr Nwaila said.
According to Dr Nwaila, the Free State Growth and Development Strategy has identified 11 areas that need to be addressed by the year 2014, including:

• To reduce unemployment from 38% to 20%
• To improve the functional literacy rate from 69,2% to 85%
• To stabilize the prevalence rate of HIV and AIDS and reverse the spread of the disease
• To provide a free basic service to all households
• To provide adequate infrastructure for economic growth and development

Dr Nwaila said that the Free State government will continue to follow a people-centred approach towards these development objectives with a keen sense of unity and unwavering determination to create the best of times for the Free State and all its people.

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