Nowadays, Universities try to be better than the others in all aspects whether the educational activities or the social ones. There are a lot of competitions between the universities that are held every year. For example, there is world Olympiad of physics that is such an educational competition, or there is world universities sport competition that is such a social activity. From my standpoint, nowadays, universities should care about their social activities as they pay attention to educational aspects.
This is not the right place to show an detailed example. Your task here is to introduce the issue retrieved from the question.
Universities should concern about students' health situation. Doing sports like swimming or running is one of the essential parts of our health. Most of the doctors have advised people to do exercise beside a good diet. In my opinion, if students do not have a suitable body condition, they could not study well and effectively. They are quickly tired of studying.
There is a lot of competition between the universities. They would like to surpass the others. For example, my university found talented students in playing music instruments, and spent a lot of MONEY for them. Consequently, my university awarded the best university award of the music festival of Iranian universities.
This is not the part of the question. As it can be seen from the prompt:
Sports and social activities are just as important as classes and libraries ?
, you are asking to how these issues support students' performance so as to attain academic requirements.