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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

Team on the way to SIFE world cup
2007-07-16

 

A team of students from the University of the Free State (UFS) has won a national competition in business skills and entrepreneurship, and will be representing South Africa at the Students in Free Enterprise (SIFE) World Cup in New York later this year.

The SIFE World Cup will be held in New York from 10 to 12 October, and will feature student teams from 40 countries.

Antonia Gumede, a UFS student, says the competition involves students developing sustainable business models based in the community, which are evaluated in terms of entrepreneurship, financial literacy, business ethics, market economics and success skills.

Gumede says the UFS entry won first prize in all five categories at this year’s national competition.

The UFS team consisted of seven students and two faculty advisers, and included a diverse group of students studying in fields such as accounting, psychology, social science and actuarial science.

The UFS won the national SIFE competition for three years in a row – 2002, 2003 and 2004. This year (2007), the UFS team emerged as the winner for the fourth time.

The Co-ordinator of Community Service in the Faculty of Economic and Management Sciences, Tessa Ndlovu, attributes the success of the team to the university’s policy of community service learning, which she says motivates students to get involved in academically grounded projects that contribute to the well-being of the community.

“The financial, academic and emotional support from the Faculty of Economic and Management Sciences, as well as the faculty’s contribution to community service learning on the campus, contributes to the success of the team,” added Ndlovu.

The UFS SIFE team has been sweeping the board nationally. They first won the competition in 2002 and went on to represent the country at the SIFE World Cup in Amsterdam (the Netherlands), where they came fourth out of 33 countries.

In the following year (2003), the SIFE UFS team was once again crowned the national champion and went on to represent South Africa internationally, coming second in Mainz, Germany.

SIFE teams spend the academic year conducting projects that specifically meet the communities’ unique needs. These efforts assist aspiring entrepreneurs, struggling business owners, low-income families and children by teaching them how to succeed in a global market economy.

“Teams have the tremendous asset of learning from business experts who serve on their Business Advisory Boards. These people not only provide mentorship and guidance to them in terms of their projects, but also introduce them to other leaders in the community and give them access to needed resources,” said Nldovu.

“It is an unparalleled feeling to know that the contribution we as students make in our communities actually matters,” added Gumede.

Media release
Issued by: Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt.stg@mail.ufs.ac.za  
16 July 2007
 

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