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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

UFS welcomes unanimous judgement about its Language Policy in the Supreme Court of Appeal

2017-03-28

The University of the Free State (UFS) is pleased with the unanimous judgment handed down in the Supreme Court of Appeal this morning, in which the application from AfriForum and Solidarity to review and set aside the decision by the UFS Council to adopt a new Language Policy was dismissed.

The court accordingly directed that AfriForum and Solidarity pay the legal costs of the UFS, which include the costs of two Counsel. This is the second time that the two applicants were ordered to pay the university’s legal costs.

The UFS further welcomes the decision by the Full Bench that the Free State High Court made a mistake last year by indicating that the UFS Council made an irrational decision when it approved the new Language Policy on 11 March 2016.

“Today’s decision is a milestone in the history of the University of the Free State and underlines the importance of the decision made by the Council last year. The decision comes with a responsibility, as we now have to ensure that all our students can become part of the global community of scholars by providing them with the necessary support. We also have to make our staff and students understand the implication of the court’s decision,” said Prof Nicky Morgan, acting Vice-Chancellor and Rector of the UFS.

The effect of today’s judgment is that the UFS may proceed to implement the new Language Policy according to its Implementation Plan. The new policy entails English as primary medium of instruction, but with the introduction of a tutorial system in Afrikaans and progressively in Sesotho to support students’ learning in their first and second year of study.

The policy has been piloted since January 2017 with first-year students in three faculties: Law, Health Sciences, and the Humanities. In these faculties, the majority of students indicated their preference to be taught in English. The Afrikaans-English policy will be maintained in the rest of the faculties in 2017 and phased out according to an implementation plan as from 2018.

Current registered students are able to complete their studies in the language they selected upon registration.

Released by:
Lacea Loader (Director: Communication and Brand Management)
Telephone: +27 51 401 2584 | +27 83 645 2454
Email: news@ufs.ac.za | loaderl@ufs.ac.za
Fax: +27 51 444 6393

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