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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

Report card outlines major achievements

2005-02-04

Staff at the University of the Free State (UFS) have received above-inflation increases in remuneration averaging 18,2 percent since the year 2000, according to the Rector and Vice-Chancellor, Prof Frederick Fourie.

Delivering a keynote speech at the Official Opening of the UFS today, Prof Fourie gave a report card for the UFS which he said indicated significant progress in salaries and promotions as well as capital expenditure and infrastructure development on the campus.

“The aggregate extra earnings of staff (money in their pockets above inflation) from 2000 to 2005 amount to R75 million in salaries. This is the result of the hard work of all staff and we pay tribute to them,” he said.

Prof Fourie said that several categories of staff are better off than before the financial turn-around strategy was implemented in 2000 which aimed to make the UFS a financially sustainable campus.

The lowest paid workers and professors had received an additional structural correction, which gave professors at the UFS a 27% above-inflation increase (on total remuneration package) since 2000.

He said there had also been a dramatic increase in promotions to associate professor and full professor during the last 6 years.

From 1999 to December 2001, there were only 9 promotions to associate professor. From January 2002 to January 2005, there were 37 such promotions to associate professor, four times as many.

Regarding promotions to full professor, from 1999 to December 2001 there were 7 promotions. From January 2002 to January 2005, there were 31 promotions to full professor, more than four times as many.

“We have also created a new category of senior professor to give due recognition to the outstanding work of our leading academics in many fields,” Prof Fourie said.

The UFS has introduced numerous new and innovative learning programmes, together with an increasing number of community service modules which enhanced the UFS as a leader in service learning and helped to make it a university engaged with its surrounding community.

According to Prof Fourie the number of support staff had also grown along with the professionalisation of the support services.

He said management was aware that there still several challenges regarding staff overload and staff development but that these were being addressed

Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za

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