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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

Expansion to Physics building officially opened on Bloemfontein Campus

2016-05-06

The newly-opened addition to the Physics Building on the Bloemfontein Campus.
Photo: Charl Devenish

An extension to the Department of Physics at the University of the Free State (UFS) was officially opened on the Bloemfontein Campus on 20 April 2016.

“This started off about five years ago when we were talking about not having enough room for large classes. Prof Matie Hoffman suggested that we build a large lecture room on our parking space,” said Prof Hendrik Swart, Professor in the Department of Physics as he addressed guests at the official opening ceremony.

“A year later, we received a Sarchi Research Chair [South African Research Chairs Initiative] on Advanced and Luminescent Materials. We needed more office and laboratory space. The two ideas were combined and presented to the university’s senior management,” he added.

When the university was founded in 1904, Prof James Lyle was appointed to head up the Physics and Chemistry departments. Five years later, a single room was allocated for the Physics laboratory in the main building upon its completion. In 1947, the old Physics building was designed and constructed. Fast forward 69 years, the department has reached another milestone. Facilities accommodated by the expansion include a new telescope for astrophysics experiments, a basement for storing old equipment, as well as a sliding trap door which allows heavy goods to be elevated into the building from the ground floor. The telescope is one of the many unique features of the building given its capacity to expose graduate students to the basic techniques of radio astronomy, especially in light of the fact that the SKA (Square Kilometre Array) project which is in progress.

“Our department is extremely strong at this stage, and a bright future lies ahead,” said Prof Koos Terblans, the Head of Department. The opening also served to celebrate the 103 publications achieved by the department last year.

Dr Lis Lange, Vice-Rector: Academic is proud of the heights reached by the department to date. “The Department of Physics is undoubtedly one of the jewels in the crown of our university, and we are very proud of its developments. Universities are built on legacies, and they are also about change, which is what this department has been demonstrating.”

The expansions to the building with its top-class facilities, was constructed at a cost of R25 million – an infrastructure grant courtesy of the Department of Higher Education and Training.

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