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10 February 2023 | Story Kekeletso Takang
Frans Benecke  and Su-Mari Dreyer
UFS students Frans Benecke and Su-Mari Dreyer are two of the beneficiaries of the programme and will spend one year in Salzburg, from February 2023 until January 2024.

Nowadays, universities strive more and more to develop global citizens. For the University of the Free State (UFS) and the Salzburg University of Applied Sciences (SUAS) in Austria, collaboration on the Consecutive Master’s Degree Programme in International Finance is directed at this. 

This exclusive and pioneering collaboration between the Department of Economics and Finance at the UFS and the Department of Management and Tourism at SUAS emanates from more than 15 years of collaboration between Prof Johan Coetzee (UFS) and Prof Christine Mitter (SUAS ).

The collaboration addresses the concerns constantly raised in South Africa that graduates do not have the requisite practical skills when entering the workplace. The UFS attempts to bridge this gap and contribute to a better-equipped, employable South African graduate who understands the link between theory and application in a problem-riddled world entering the Fourth Industrial Revolution.

UFS students Frans Benecke and Su-Mari Dreyer are two of the beneficiaries of the programme and will spend one year in Salzburg, from February 2023 until January 2024. 

“This is a dream come true, a dream I didn’t even know I had. To experience a different culture through educational and cultural exchange will deepen my understanding of international relationships, which is a driver of development,” says Dreyer, who completed her MCom degree at the UFS.

Interdisciplinary research

The Consecutive Master’s Degree Programme in International Finance allows students wishing to pursue a master’s degree to acquire two degrees over a two-year study period: an MCom specialising in Finance in the Department of Economics and Finance at the UFS, and an MA in Business Management specialising in Financial Risk Management at SUAS in Austria. The degrees are done on location in Bloemfontein and Salzburg respectively. The UFS master’s is more quantitative in nature and exposes students to highly technical methods and applications, while the SUAS master’s degree is more qualitative in nature and exposes students to more practical real-world management scenarios. 

“The Faculty of Economic and Management Sciences has a long-standing and valued partnership with the Salzburg University of Applied Sciences. As a faculty, we see the development of the consecutive master’s degree as a wonderful opportunity for students from both universities to participate in the learning opportunities that both universities offer. These opportunities transcend the academic learning that will take place, to also include the exposure of students to the culture and life in the partner country,” says Prof Philippe Burger, Dean of the Faculty of Economic and Management Sciences. “We believe the learning that will take place through the exposure that the consecutive degree offers, will improve students’ employability and contribute to them building successful careers.”

Bridging the gap

As part of the curriculum requirements, students will also be offered the opportunity to do a short apprenticeship in Austria. 

Benecke, who also completed his UFS master’s degree, says he hopes the programme will serve as a call to action for students considering postgraduate studies in the Department of Economics and Finance at the UFS.

News Archive

Prof Frederick Fourie to step down as UFS rector
2008-09-08

“It is with sadness that I hereby announce my intention to step down as rector and vice-chancellor of the University of the Free State (UFS) in the 4th quarter of this year.

Obviously this decision has not been taken lightly. After careful consideration I am, however, convinced that this is as far as I can take the UFS as vice-chancellor and rector. This flows primarily from the exhausting times that I have experienced during the past nine years, first as vice-rector (since 1999) and then as rector (since 2003), in managing and implementing several complex strategic projects.

The challenges and complexities of continuous change management at a higher education institution, and specifically the demands of further dynamic development and transformation at the UFS, demand enormous amounts of emotional energy and drive. For me the stress due to, especially, the political divisions and tensions in the UFS Council and the broader university community during the past year has been extremely draining. The broader institution and its people also show signs of trauma.

I think it is time for new and fresh leadership, especially in the light of the transformation challenges of the UFS.

I have thus decided to step down in the interest of transformation and the further dynamic development of the UFS.

Having been on sabbatical leave since May, I will not return to take up my post. I will remain on leave until my official date of retirement from office. (The exact date must still be determined.)

I am grateful for the opportunity to have been at the helm of the UFS and to help the institution cross several bridges. During the past nine years I have been privileged to lead large strategic projects together with many dedicated and talented UFS colleagues. It has been a wonderful experience of thinking and working together in order to elevate the functioning of the University to new levels in several key areas.

One of the most important projects was the financial turnaround strategy of 2000-2005, which took the UFS from a financial crisis to a situation where currently it annually has almost R100 million of discretionary funding available to spend on strategic projects, and where staff remuneration and promotion opportunities have increased dramatically since 2000. In this period the UFS has also grown from approximately 10 000 students to more than 27 000 in 2008.

A second was the strategy to invest strongly in the academic core and notably research, research capacity and research apparatus. Since 2003 research outputs have increased by approximately 50% - a significant accomplishment of our researchers and faculties. In conjunction with this, the launch of the six strategic academic clusters (focus areas) should create the basis for the continued growth in the national and international stature of the UFS in future. The development of the national leadership role of the UFS with regard to community service also was a special and successful project.

A third large strategic project was the progress with regard to diversity, the balanced multilingualism policy in the academe as well as the administration, the employment equity plan, the UFS transformation plan and especially the institutional charter – which could lay the foundation for a university where one and all can experience a true sense of belonging amidst diversity. These have been important steps that we can feel proud of (although much work obviously remains with regard to non-racialism and also non-sexism).

As far as residences are concerned, it was historically significant that this time, in contrast to 1997/8, the UFS succeeded in crossing the bridge of diversity and integration in residences – with due regard to the difficulties we faced. Hopefully this will considerably ease the task of my successor and her/his management team in managing diversity and in pursuing best practice transformation.

A fourth large project was the large-scale upgrading and development of infrastructure, academic buildings and facilities as well as support service facilities, student facilities and pedestrian walkways. The objective was a campus of the highest quality and aesthetics to effect a lasting improvement in their work- and living environment for staff and students. Indeed, the UFS Main Campus today is seen as an example of sensitive and high quality campus planning.

Other initiatives which haven’t borne fruit yet are, for example, those with regard to entrepreneurial activities, sport development and sport business development, and the possible establishment of an engineering programme or faculty at the UFS.

On the whole the most important thing for me has been the progress in establishing a deep commitment to quality and equity/fairness and in boosting the national and international profile of the UFS as a high quality progressive university. Of course, justice, equity and quality intrinsically are challenges which require daily dedication to make it an ingrained habit.

I wish to thank all those people with whom I could work during the past years in tackling large and complex challenges with mutual loyalty, shared wisdom and effort – from the Financial Turnaround Team to the Exco, the Executive Management, the Faculties, the Senate, support service divisions, the University Council and several committees and task teams”.

Frederick C.v.N. Fourie
Rector and Vice-Chancellor
University of the Free State

Prof Frederick Fourie has been with the UFS since 1976. After obtaining a PhD in Economics from Harvard he was appointed professor at the age of 29 in 1982, head of the Department of Economics in 1992, Distinguished Professor in 1998, Dean of the Faculty of Economic and Management Sciences in 1997, Vice-rector: Academic in 1999 and vice-chancellor in 2003.

Media Release
Issued by: Lacea Loader
Assistant Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za  
8 September 2008
 

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