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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

Dr Henry Jordaan’s research to establish benchmarks for sustainable freshwater use in agri-food industries

2014-08-22

Photo: en.wikipedia.org

Dr Henry Jordaan, Senior Lecturer in the Department of Agricultural Economics, is working on a multi-disciplinary research project for the Water Research Commission. The project assesses the water footprints of selected agri-food products that are derived from field and forage crops produced under irrigation in South Africa. These foods include animal products, such as meat and dairy, and crop products such as bread and maize meal.

“The water footprint of a food product is the total volume of freshwater that is used to produce the product, measured from the farm to the actual consumption of the food product. Thus, the water footprint is a good indicator of the impact that the consumption of a product has on our scarce freshwater resource. The agri-food sector is a major user of freshwater in South Africa with a relatively large water footprint,” says Dr Jordaan.

However, the agri-food sector also has an important role in economic development in South Africa. It generates income and employment opportunities along the value chains of the food products.

The challenge is to maximise the economic and social benefits from using freshwater in an environment where freshwater gets increasingly scarce.

Through his research, Dr Jordaan aims to establish benchmarks for sustainable freshwater use in selected agri-food industries – from an environmental, economic and social perspective. These benchmarks will inform water users on the acceptable volumes of freshwater to use to produce food products. It will also inform users of the economic and social benefits that they are being expected to generate through their actions so that their water use behaviour could be considered sustainable.

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