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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.

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Increase in external research funding is proof of confidence in UFS
2014-12-09

The university’s sourcing of research funding from external organisations has received a significant boost this year. The growth in financing received from the National Research Foundation (NRF) alone increased from R24 million in 2013 to over R50 million in 2014.

“Because tertiary institutions can no longer survive on state subsidies alone, they are increasingly looking at alternative ways of supplementing their income. Income from these sources is utilised for various programmes and projects, with strong emphasis on research,” says Dr Glen Taylor, Senior Director: Research Development at the University of the Free State (UFS).

A source which provided considerable income for the UFS was the presentation of short learning programmes. The growth in income for the learning programmes this year was more than 30% compared to the income in 2012. “Income from short learning programmes is used to support the core business of the UFS,” says Dr Taylor.

A number of major research contracts were entered into during the course of the year. The UFS, for example, serves as an agency for a research contract of USD$10.5 million awarded by the World Bank to the Southern African Development Corporation (SADC). The contract is managed by the Institute for Groundwater Studies (IGS) and involves research on the management and formation of policies on underground water sources across boundaries.

Another substantial grant is the financing received from the Water Research Commission. The money is used to conduct research on the sustainable utilisation of water, as well as ways for the better utilisation thereof for the development of communities. The grant to the UFS for successful projects amounts to R5.5 million on average per year.

The UFS also has contracts with national and international partners. We conduct research of more than R30 million on the behalf of several mining companies, such as Anglo American, BHP Billiton, Exxaro and Goldfields Ltd. “Furthermore, we also have research funding from the National Institute of Health (NIH) in the USA, the European Union and several bilateral research agreements with countries such as Brazil, China and India, as well as contracts with Sasol and the Agricultural Research Council (ARC),” says Dr Taylor.

“We have tremendous interest from several companies wishing to finance the programmes, projects and intellectual property of the UFS, which is proof that our research is recognised and makes a difference,” he says.

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