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UFS to host inaugural ‘Sanlam and Santam Economist of the Year’ gala event

16 October 2024 | Story Anthony Mthembu | Photo Supplied

The Department of Economics and Finance, within the Faculty of Economic and Management Sciences (EMS) at the University of the Free State (UFS), in collaboration with Sanlam and Santam, will host the inaugural ‘Sanlam & Santam Economist of the Year’ competition gala event on 18 October 2024. The event, to be held on the UFS Bloemfontein campus, marks the exciting conclusion of this prestigious competition.

About the competition

Prof Johan Coetzee, Chairperson of the Department of Economics and Finance at UFS, explained that the competition, launched in July 2024, is an initiative of the department, sponsored by Sanlam and Santam. ‘’The competition aims to equip our graduates with the essential skills required for the modern workplace, including presentation, communication, problem-solving, and critical thinking skills,” said Prof Coetzee. He also highlighted plans to extend the competition to schools, saying, “We are looking forward to broadening the platform to include school-level participants.”

In addition, Prof Coetzee noted that the competition is designed to train students to become highly skilled economists capable of navigating the challenges of the Fourth Industrial Revolution (4IR).

The competition sees students - ranging from first-year undergraduates to those pursuing master's qualifications within the department - competing against each other by making predictions on key macroeconomic indicators. A schedule of these indicators is provided, and students must predict their values on an online platform before the official release of each indicator. Points are awarded based on the accuracy of their predictions, with the top 10 competitors progressing to the final stage.

Gala event highlights

Representatives from Sanlam and Santam, the Department of Economics and Finance, the top 10 finalists, and the department’s top academic performers from each year group will attend the gala event. “Besides recognising the competition winners, we will also honour our top academic achievers. As a department, we acknowledge the importance of recognition, and we are proud to be the academic home of these outstanding students,” Prof Coetzee added.

The top 10 finalists will each deliver a six-minute presentation to a panel of four economists from the department, after which the top three finalists will be announced. These finalists will then answer an additional question, and the final judging will determine the winner of the ‘Sanlam and Santam Economist of the Year’ title. The winner will also receive the largest cash prize.

In addition to the awards, Sivuyile Nzimeni, a data analyst within the EMS faculty and the developer of the competition platform, will address the audience. Nzimene will discuss the development of the platform and plans for its expansion.

News Archive

Young researchers are equipped to participate in projects relevant in global context

2017-09-05

This group of early career researchers received bioinformatics
training in Worcester in the UK from Dr Diane Saunders of the
John Innes Centre in the UK.
Photo: Supplied

The interdisciplinary field that develops methods and software tools to understand biological data is known as bioinformatics. According to Dr Renée Prins, a research fellow in the Department of Plant Sciences at the University of the Free State, there are few tertiary institutions in South Africa that offer a postgraduate degree in Bioinformatics.

“Most institutions focus either on humans, human diseases, forest trees and their pathogens. They usually do not have spare capacity to assist researchers, for instance, those working on crops in the agricultural sector,” Dr Prins said.

Big data sets need significant skills
With the advancements made in genomics such as high throughput DNA marker platforms and next-generation sequencing technologies, the data sets biologists have to deal with have grown massively big and cannot be dealt with unless you have significant computer skills.

Dr Prins believes that all young researchers need some level of training in this field to be effective in future. The British Council Researcher Links, being run by the Newton Fund, gives early career researchers across selected partner countries the opportunity to form international connections through fully funded workshops and travel grants. Dr Prins made use of this opportunity and with the assistance of the Department of Research Development at the UFS, she arranged for Dr Diane Saunders of the John Innes Centre in the UK, a bioinformatician of note, to present training to a group of 20 early career researchers in Worcester in the UK.

Providing training with Dr Saunders were two other bioinformaticians from the UK, Dr Burkhard Steuernagel (John Innes Centre) and Dr Robert Davey (Earlham Institute). From the UFS side, Eleanor van der Westhuizen and Dr Henriëtte van den Berg (former UFS academic) acted as mentors, providing guidance on funding opportunities and career development skills.

Participating in projects in a global context
The researchers attending the training came from research institutions or academia, and they work involving plants (predominantly wheat) or plant pathogens. A limited number of participants from the commercial sector, including private South African companies focusing on plant breeding and molecular genetics lab work on agriculturally important crops also benefited from the training.

“Tertiary institutions in South Africa have the obligation to ensure that young scientists are equipped with bioinformatics skills. If they are not equipped with the necessary skills, they will not be able to participate in research projects that are relevant in a global context,” said Dr Prins.

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