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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

Fire as a management tool questionable in arid and semi-arid grassland areas

2015-03-24

Wild fire in the grassland
Photo: Supplied

The influence of fire on the ecosystem in the higher rainfall ‘‘sour’’ grassland areas of southern Africa has been well established. However, less information is available for arid and semi-arid ‘‘sweet’’ grassland areas, says Prof Hennie Snyman, Professor in the Department of Animal, Wildlife, and Grassland Sciences, about his research on the short-term impact of fire on the productivity of grasslands in semi-arid areas.

Sour and sweet grassland areas can be defined as receiving either higher or lower than approximately 600 mm of rainfall respectively. In quantifying the short-term impact of fire on the productivity of grasslands in semi-arid areas, a South African case study (experimental plot data) was investigated.

“Burned grassland can take at least two full growing seasons to recover in terms of above- and below-ground plant production and of water-use efficiency (WUE). The initial advantage in quality (crude protein) accompanying fire does not neutralise the reduction in half of the above-ground production and poor WUE occurring in the first season following the fire.

“The below-ground growth is more sensitive to burning than above-ground growth. Seasonal above-ground production loss to fire, which is a function of the amount and distribution of rainfall, can vary between 238 and 444 kg ha -1 for semi-arid grasslands. The importance of correct timing in the utilisation of burned semi-arid grassland, with respect to sustained high production, cannot be overemphasised,” said Prof Snyman.

In arid and semi-arid grassland areas, fire as a management tool is questionable if there is no specific purpose for it, as it can increase ecological and financial risk management in the short term.

Prof Snyman said: “More research is needed to quantify the impact of runaway fires on both productivity and soil properties, in terms of different seasonal climatic variations. The information to date may already serve as valuable guidelines regarding grassland productivity losses in semi-arid areas. These results can also provide a guideline in claims arising from unforeseen fires, in which thousands of rands can be involved, and which are often based on unscientific evidence.”

For more information or enquiries contact news@ufs.ac.za

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