Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
08 September 2021 | Story Mr Temba Hlasho | Photo Sonia Small (Kaleidoscope Studios)
Temba Hlasho is the Exective Director: Student Affairs at the UFS.

Dear Students 

I trust that you are well and safe.

I am Mr Temba Hlasho, your newly appointed Executive Director: Student Affairs, and I am honoured to be of service to you.  The Department of Student Affairs wishes all the students a productive and academically friendly September. My goal is to build an engaging and open-dialogue relationship with student bodies to better understand their plight, which will then be used as a leveller for enhanced, positive working partnerships with colleagues in finding effective student solutions. And as you may already know, the Division of Student Affairs is often a good place to start when you cannot figure out what to do, where to go, who to ask, or are simply in need of a soundboard. 

As you continue with your final semester, I would like to remind you that my office is at your disposal to ensure the provision of social support, as well as co-curricular and extra-curricular activities aimed at enhancing your chances of academic success. Student Affairs service units are readily available to assist you in reaching your full potential inside and outside the lecture room. Please remember to visit our webpage for more information on our support services.  
On 19 August 2021, the South African Cabinet approved the vaccination of people between the ages of 18 and 35.  This milestone provides an opportunity for all students within the approved age categories to go out there and get vaccinated for your safety, health, and well-being.  During these uncertain times and a ‘new normal epoch’, I encourage you to take advantage of this opportunity and get vaccinated for your own safety and consideration for others.

My sincere gratitude to all students who participated in our virtual Student Affairs Week that unfolded during August; I encourage you to continue participating in our upcoming events.  Due to COVID-19 protocols, these activities will be held virtually: 

• The Institutional Student Governance Office’s (SGO) SRC elections are currently underway. On 15  September 2021, election campaigning will commence; all information related to the elections may be accessed here.

• Student Counselling and Development (SCD) will be hosting a World Suicide Prevention webinar, titled Suicide Awareness Day on 10 September 2021. SCD will also be hosting various webinars on Blackboard throughout the semester. 

• The Centre for Universal Access and Disability Support (CUADS) is commemorating 20 (twenty) years; activities of this celebration will be on the university’s website from 3 September 2021. 

September marks the annual Heritage Day in South Africa, and I invite you to embrace and recognise South African culture as the best means to showcase your cultural identities.  Over the past two decades, there has been a renewed focus on the preservation of the intangible cultural heritage (ICH). ICH manifests itself in the form of oral traditions and expressions, including language as a vehicle of the intangible cultural heritage; performing arts; social practices, rituals, and festive events; knowledge and practices concerning nature and the universe.

The global ICH crisis involves the indigenous loss of language experienced in several parts of the world, including South Arica. In passing down cultural heritage, language – among other aspects – is an integral part. As students of higher education institutions, particularly the University of the Free State, I challenge you to develop and implement creative and innovative ways of protecting and preserving the ICH. Our Arts and Culture Office is readily available to aid you in this regard. 

Hearty congratulations to the UFS Kovsie Netball Team on being crowned the 2021 Varsity Netball champions. As the UFS community, we are extremely proud of this achievement by the netball players and the technical team. 
I wish you all the very best for this semester. Please stay safe, wear a mask, wash your hands, sanitise, and practise social distancing.  Most importantly, stay away from crowded public spaces as far as it is practically possible. 

TS Hlasho
Executive Director: Student Affairs

News Archive

Inaugural lecture: Prof. Phillipe Burger
2007-11-26

 

Attending the lecture were, from the left: Prof. Tienie Crous (Dean of the Faculty of Economic and Management Sciences at the UFS), Prof. Phillipe Burger (Departmental Chairperson of the Department of Economics at the UFS), and Prof. Frederick Fourie (Rector and Vice-Chancellor of the UFS).
Photo: Stephen Collet

 
A summary of an inaugural lecture presented by Prof. Phillipe Burger on the topic: “The ups and downs of the South African Economy: Rough seas or smooth sailing?”

South African business cycle shows reduction in volatility

Better monetary policy and improvements in the financial sector that place less liquidity constraints on individuals is one of the main reasons for the reduction in the volatility of the South African economy. The improvement in access to the financial sector also enables individuals to manage their debt better.

These are some of the findings in an analysis on the volatility of the South African business cycle done by Prof. Philippe Burger, Departmental Chairperson of the University of the Free State’s (UFS) Department of Economics.

Prof. Burger delivered his inaugural lecture last night (22 November 2007) on the Main Campus in Bloemfontein on the topic “The ups and downs of the South African Economy: Rough seas or smooth sailing?”

In his lecture, Prof. Burger emphasised a few key aspects of the South African business cycle and indicated how it changed during the periods 1960-1976, 1976-1994 en 1994-2006.

With the Gross Domestic Product (GDP) as an indicator of the business cycle, the analysis identified the variables that showed the highest correlation with the GDP. During the periods 1976-1994 and 1994-2006, these included durable consumption, manufacturing investment, private sector investment, as well as investment in machinery and non-residential buildings. Other variables that also show a high correlation with the GDP are imports, non-durable consumption, investment in the financial services sector, investment by general government, as well as investment in residential buildings.

Prof. Burger’s analysis also shows that changes in durable consumption, investment in the manufacturing sector, investment in the private sector, as well as investment in non-residential buildings preceded changes in the GDP. If changes in a variable such as durable consumption precede changes in the GDP, it is an indication that durable consumption is one of the drivers of the business cycle. The up or down swing of durable consumption may, in other words, just as well contribute to an up or down swing in the business cycle.

A surprising finding of the analysis is the particularly strong role durable consumption has played in the business cycle since 1994. This finding is especially surprising due to the fact that durable consumption only constitutes about 12% of the total household consumption.

A further surprising finding is the particularly small role exports have been playing since 1960 as a driver of the business cycle. In South Africa it is still generally accepted that exports are one of the most important drivers of the business cycle. It is generally accepted that, should the business cycles of South Africa’s most important trade partners show an upward phase; these partners will purchase more from South Africa. This increase in exports will contribute to the South African economy moving upward. Prof. Burger’s analyses shows, however, that exports have generally never fulfil this role.

Over and above the identification of the drivers of the South African business cycle, Prof. Burger’s analysis also investigated the volatility of the business cycle.

When the periods 1976-1994 and 1994-2006 are compared, the analysis shows that the volatility of the business cycle has reduced since 1994 with more than half. The reduction in volatility can be traced to the reduction in the volatility of household consumption (especially durables and services), as well as a reduction in the volatility of investment in machinery, non-residential buildings and transport equipment. The last three coincide with the general reduction in the volatility of investment in the manufacturing sector. Investment in sectors such as electricity and transport (not to be confused with investment in transport equipment by various sectors) which are strongly dominated by the government, did not contribute to the decrease in volatility.

In his analysis, Prof. Burger supplies reasons for the reduction in volatility. One of the explanations is the reduction in the shocks affecting the economy – especially in the South African context. Another explanation is the application of an improved monetary policy by the South African Reserve Bank since the mid 1990’s. A third explanation is the better access to liquidity and credit since the mid 1990’s, which enables the better management of household finance and the absorption of financial shocks.

A further reason which contributed to the reduction in volatility in countries such as the United States of America’s business cycle is better inventory management. While the volatility of inventory in South Africa has also reduced there is, according to Prof. Burger, little proof that better inventory management contributed to the reduction in volatility of the GDP.

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept