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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 releases draft charter to accelerate transformation

2007-02-02

The University of the Free State (UFS) today released a draft Institutional Charter which is intended to enhance and accelerate the ongoing transformation of the institution towards a non-racial, non-sexist future.

Speaking at the official opening of the university today, the Rector and Vice-chancellor, Prof Frederick Fourie, said the draft Institutional Charter, was an important milestone in the transformation debate for the university and the country.

“The draft charter acknowledges that black people, women and people with disabilities have been marginalised from job and developmental opportunities, within the higher education sector and at this university,” Prof Fourie said.

The charter commits the university to meeting the challenges of a transforming higher education institution in a developing society, in particular the challenges of nation-building, reconciliation, redress, non-racialism and non-sexism – and ultimately normalisation – within a high-quality academic institution.

The principles of the draft charter firmly signal the university’s commitment to diversity – attaining and maintaining substantive and sufficient diversity (including multiculturalism and multilingualism) – in its quest for quality and excellence.
Prof Fourie said the draft charter seeks to build consensus among staff and students at the UFS about the ultimate goals of transformation at a higher education institution.

The charter proposes several basic values and principles that should guide the transformation process and at the same time serve as a basis for a future, normalised university - a promised land to transform towards.

The discussion document says academic quality is intrinsically linked to transformation and it commits the university to strengthening the core competencies of research, teaching and learning as well as community service so as to ensure a robust university for future generations.

“Indeed the thousands of matriculants, black and white, who apply to study at the UFS want to study at a good university, and a good university wants to attract the best black and white students and the best black and white staff, male and female,“ Prof Fourie said.

He said the draft charter also seeks to safeguard academic freedom and institutional autonomy as the foundation of critical inquiry and scholarship.

Regarding the critical issue of creating a new institutional culture, the draft charter commits the UFS to creating a sense of belonging for all members of the university – black and white, male and female, of whatever language, religious, cultural or economic background, as well as people with disabilities.

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl@mail.uovs.ac.za
02 February 2007

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