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Developing global citizens: UFS students studying abroad in Austria

10 February 2023 | Story Kekeletso Takang

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

UFS staff to get a minimum of 4,71 percent salary increase

2005-11-25

The University of the Free State (UFS) management and trade unions have agreed on a minimum of 4,71 percent salary increase for 2006 as well as a once-off non-pensionable bonus of R1200 payable in December 2005.

The agreement was signed today by representatives of the UFS management and the trade unions, UVPERSU and NEHAWU, in Bloemfontein.

Prof Niel Viljoen, Chief Director: Operations at the UFS and chairperson of the UFS Council’s representatives, and Prof Johan Grobbelaar, chairperson of the joint Union Forum, said: “The bonus is payable in December 2005 in recognition of the role that staff played during the year to promote the UFS as a university of excellence.”

He said the intention is to pass the maximum benefit possible on to staff without exceeding the limits of financial sustainability of the institution.
For this reason the negotiating parties reaffirmed their commitment to the Multiple-year Income-related Remuneration Improvement Model used as a framework for negotiations.

Proff Viljoen and Prof Grobbelaar said one of the factors that influence the model and therefore the negotiations is the level of subsidy the UFS receives from the government.

“As the state subsidy level is unfortunately not yet known, remuneration could vary several percentage points between a window of 4,71 and 5,5 percent. Should the state subsidy be such that the increase would fall outside this window then the parties will renegotiate.”

Proff Viljoen and Prof Grobbelaar said the R1200 bonus is payable to staff members who were in the employ of the UFS on UFS conditions of service on 21 November 2005 and who assumed duties before 1 October 2005. There are however some exceptions.

The agreement signed today also provides for restructuring funds of R752 000 to address partial backlogs in support services, including an increase in the medical allowance of 640 staff members.

The implementation date for the salary adjustment is 1 January 2006, but could be implemented on a later date due to logistical arrangements.

Proff Viljoen and Prof Grobbelaar said the UFS and unions could reach an agreement despite the declining phase in income and the generally more difficult financial environment in which universities operate.

Prof Grobbelaar said salary negotiations are never easy, but the model is an important tool. The model made it possible to tie up salary negotiations for November 2006. “This is unique for any higher education institution.”

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
24 November 2005

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