This course was designed with one purpose in mind – to help you learn about sustainable microfinance – the principles and good practices as they are applied by sustainable institutions worldwide.
You are about to engage in a learning experience that addresses these topics, and more, with richness and depth.
The course is interactive. It is user-friendly and attractively presented. The course curriculum is presented on a CD-ROM. Using the main menu as a road map, an expert narrator guides you through rough terrain and easy highways. Case studies come alive as you hear how customers use microfinance and why it works. You interview staff members, the board and management of different microfinance institutions to assess the institutional strengths and challenges for growth. You will not be surprised that there are good practices for donors. Learn about the pitfalls of donor funding, the successful partnerships between MFIs and donors, and some of the tools that help both get the best returns on their investment.
Can you tell the difference among assets, liabilities and equity? For those of you who have a particular aversion to finance, exercises and computer graphics make financial statements easy to understand and analyze. Tackle a few questions on interest rates and learn how to calculate them. You can practice as long as you like, developing your own scenarios with the calculator included in this lesson.
Each lesson begins with a self-assessment, sometimes you are asked to explore myths and facts about microfinance, sometimes you might judge the appropriateness of a loan product, or you may be asked to assess how enabling the regulations or environment of a country is for microfinance operations. Use the self-assessment to check your knowledge and prepare for the content of the lesson.
Videos feature experts from around the world. Best conveyed in their own words, topics are discussed based on their rich experience that is rarely found in any other classroom. Listen to them and get inspired!
Earn a coin for every correct answer. Later, you can buy an interview with an expert with your steadily accumulating pile of coins. Answer incorrectly? This is not a problem in this course. You receive feedback explaining the concept in depth.
In some cases you will be enrolled in a virtual classroom and have an internet based tutor who guides you through the lessons with challenging discussion questions and homework assignments. Share your thoughts, perspectives and experience with colleagues from around the world.
A handy Workbook is always at your side. Would you like extra practice questions? Would you like to follow the financial statements in print? Delve deeper into the topics presented in each lesson, and learn about some of the current debates in the field. A concise reading list is included, and many of the readings are available on the accompanying CD-ROM.
If you ever asked any of the questions above, and still have lingering doubts, or you want to learn about sustainable microfinance as it is practiced today, you should take this course. The course is ideal for working professionals who need to balance the demands of their jobs with new learning experiences. As a self-study you progress through the course at your own pace. Staff of microfinance operations find this course useful, a chance to step back from their daily jobs, and see how their work fits into global microfinance initiatives. Experts in other fields, who have heard about microfinance, get a thorough grounding here. New staff of agencies working in development or staff engaged in other fields can expand their knowledge of microfinance as an important development effort. Students will find this course enlightening for future career choices and complementary to their academic pursuits in economics, finance, business, political science and international development. The tutored course offered by universities complements their own curriculum and can be offered for credit.
We are interested in your feedback.
The course was developed by the Special Unit for Microfinance (SUM) of the United Nations Capital Development Fund (UNCDF), an organization specialized in local governance and microfinance and a member of the United Nations Development Programme (UNDP) Group. Tell us what you think and contribute your ideas. And, enjoy the course!
New York, September 2002