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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

Race, technology, and maritime labour in the 19th century

2016-06-23

Prof John T. Grider

“When employers
impose
worker identity,
it creates problems.”

What does identity mean to people today, and how is it formed? Religion, politics, race, ethnicity, and gender make up individual and community identity. However, Prof John Grider (University of Wisconsin – La Crosse) is of the opinion that employment moulds our identity, since we spend so much time on the job.

Prof Grider joined the Institute for Reconciliation and Social Justice (IRSJ) on the Bloemfontein and Qwaqwa Campuses to discuss his research on the maritime industry, published in his book, Foreign Voyage - Pacific Maritime Labour Identity: 1840 to 1890. “When employers impose worker identity, it creates problems,” he said. Particularly, this “creates instability in communities, and a vulnerability and insecurity amongst the employees”.

To illustrate his point, Prof Grider expanded on the history of 19th-century Atlantic sailors, a highly-skilled workforce, who failed to adapt to changes in their labour environment. Initially, the sea-faring community was very diverse racially. However, as the Pacific, and particularly Asian, marine community gained precedence, this tide turned to such an extent that, in 1886, the Atlantic sailors formed their own Coastal Seamen’s Union in San Francisco, causing a split between Asian and non-Asian sailors. Atlantic sailors had failed to integrate with the new technology of the day (steam power), nor had they accepted the demographic changes that flooded their community rapidly with cheap labour from Chinese shores.

Prof Grider highlighted the need to maintain an adaptable mentality in the ever- and rapidly-changing labour world, since division amongst workers could lead only to further exploitation of the workforce.

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