Latest News Archive

Please select Category, Year, and then Month to display items

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

Scientists discover a water reservoir beneath the Free State

2009-12-09

Dr Holger Sommer

The Mantle Research Group Bloemfontein (MRGB), under the leadership of Dr Holger Sommer, a senior lecturer in the Department of Geology at the University of the Free State (UFS), has discovered an enormous water reservoir 160 km beneath the Free State.

This discovery, according to Dr Sommer, is the first of its kind in South Africa after he had previously made a similar finding in Colorado, USA.

However, this water cannot be used for human consumption. “It is not frozen water; it is not molecular water; it is not fresh water; it is not salty water; it is OH – water which is sitting in the crystal lattice,” he said.

He said the reservoir was comparable in size to Lake Victoria in Tanzania.
The researchers collected eclogites from the Roberts Victor (Rovic) Mine close to the town of Boshof, south-west of the Free State, for their study.

“The Rovic eclogites are rocks which represent former oceanic crust transported into the earth’s interior by complex plate tectonic processes about 2.0 billion years ago,” explained Dr Sommer.

“These rocks were finally carried back to the earth’s surface by volcanic (kimberlite) eruptions around 130 million years ago. Eclogitic rocks are therefore a window into the Earth’s interior.”

The question from the beginning for all MRGB scientists was: Is there water inside these rocks in such depth, and if so, where is it located?

To answer this question, Dr Sommer and his research fellows separated single mineral grains from eclogite samples and prepared about 100 micrometer (0,1 mm) thick rock sections. Afterwards, specific particle accelerator (Synchrotron) measurements were carried out in the city of Karlsruhe in Germany.

“And indeed, the MRGB found water inside the studied rocks from the Roberts Victor Mine,” he said. “The water was located in defect structures in crystal lattices and along boundaries between single mineral grains.”

“The occurrence of water at such depth would give first evidence that all water of the oceans could be stored five to ten times in the earth’s mantle.”
The study was conducted about a year ago.

Media Release
Issued by: Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt.stg@ufs.ac.za
4 December 2009

Back

Economic and Management Sciences

Education

Health Sciences

The Humanities

Law

Natural and Agricultural Sciences

Theology and Religion

Open Distance Learning

Business School

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