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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

Latest information technology employed to make learning in Disaster Management easy

2014-10-20

Prof Dusan Sakulski
Photo: Leonie Bolleurs

Live, colourful, interactive, real-time-calculated. This is how Prof Dusan Sakulski, researcher and lecturer from the UFS’s Disaster Management Training and Education Centre for Africa (DiMTEC), describes his e-learning platform implemented in this department.

Rather than producing research that gathers dust somewhere in a cabinet, Prof Sakulski believes that research should be used to make life easier, not only for society, but also for his students.

This educational civil engineer, who is responsible for information technology implementation in disaster risk management, developed through his research several programs to optimise the three contact sessions DiMTEC students have to attend each year.

One of the initiatives implemented by Prof Sakulski and his daughter Teodora, was the recording, editing and compiling of theoretical lessons and making it available to students online. “Students then don’t have the excuse of missing a class. Furthermore, it allows them to rather focus on group work during contact sessions and to discuss problems they encountered with the work,” he says.

Students also have access to an early-warning system portal for the prediction of hazards, including droughts, floods, rain and temperature. In the disaster-risk environment, this program is very useful, not only for students, but also for practitioners working with this kind of data on a daily basis. The operational and educational application works in real time – with the click of a mouse students and practitioners have access to information on current weather conditions. Indicators for possible natural disasters are also built into this program. Truly a useful application when you are working in the field of disaster risk management.

Difficult and technical data are presented live, with information that is colourful, interactive, real-time-calculated and audible, thanks to embedded mathematical language. In this way, students can learn, memorise and understand their work better.

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