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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

"Participation without insight leads to pronouncements without prospects"

2004-08-30

Taking the poor off the streets and encouraging their participation in the planning process is not always empowering them but it might be robbing them of their power, said Prof Das Steyn, of the Department of Urban and Regional Planning at the University of the Free State (UFS).

Speaking on public participation in the planning process during his inaugural lecture, Prof Steyn said this meant that people in the streets sometimes have more power than people in the system.

“Public participation is an overgeneralization that is often defined as providing citizens with opportunities to take part in governmental decisions and planning processes. But there must be a balance between power and responsibility,” he said.

According to Prof. Steyn, public participation in town planning plays a vital role and can be both deliberation and participation.

After 1994 there was a widespread insistence on democracy, and legislation passed since then was based on the belief that the community must be involved in the planning process.

He said the experience of the Department of Urban and Regional Planning at the UFS was that in some cases people showed lack of interest in public participation.

He believed that the aim of public participation is to improve the effectiveness of planning and that public participation democratises project planning.

“Public participation can help us know how the public feels about certain issues. It has the potential of resolving a conflict, but this is not guaranteed,” Prof Steyn said.

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