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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

Compassion improves psychological well-being and reduces emotional distress

2017-09-27

Participants in the Kindness Project sharing a
Random Act of Kindness with the cleaning staff,
Mathabiso Sehlabaka and Madineo Mokoena.
Photo: Thabo Kessah

Various studies have reported that the cultivation and practice of compassion may result in improved self-esteem, a decrease in depression and anxiety, increase in subjective well-being, and overall improvement in physical and psychological health. This is according to Counselling Psychologist, Tobias van den Bergh, during the Kindness Project (KP) on the Qwaqwa Campus.

“Students that are involved in this project have shown statistically significant improvements in overall well-being and compassion towards themselves and others,” said Van den Bergh, the project leader and Head of Department: Student Counselling and Development, Qwaqwa Campus.

“In addition, student participants of the compassion-based intervention showed a decrease in their experience of debilitating emotions and depressive symptoms, as well as a significant increase in measurements of positive affect (an indication of life vitality), self-compassion, and well-being. Humans appear to be genetically programmed to be kind. Studies have shown that the same brain structures that are activated when we procreate (i.e. have sex) or eat chocolates, are activated when we are kind. Thus, it means showing an instinctive predisposition towards compassion for our kin and others. Kindness also appears to be contagious. Whenever we observe kindness or experience kindness ourselves, we are much more likely to be compassionate towards our fellow human beings,” he said.

The KP is based on the Science of Compassion, with participants completing a four-week compassion-based intervention where they learned about and practised self-compassion and compassion towards others. In the last week of the programme, participants completed various Random Acts of Kindness off and on the campus.

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