Beschluss der FIBAA- Akkreditierungskommission für Programme

Beschluss der FIBAA-Akkreditierungskommission für Programme

90. Sitzung am 20./21. März 2014

Projektnummer: 12/022

Hochschule: Eastern Mediterranean University (EMU), Turkish Republic of Northern

Cyprus

Studiengang: Banking and Finance (B.S.)

Die FIBAA-Akkreditierungskommission für Programme beschließt wie folgt:

Der Studiengang wird gemäß § 7 Abs. 2 i.V.m. § 10 Abs. 1 i.V.m. § 10 Abs. 2 der Sonderbe-

dingungen für die Vergabe des FIBAA-Qualitätssiegels für Programmakkreditierung vom

11.10.2011 in der zum Vertragsschluss geltenden Fassung unter sechs Auflagen für fünf

Jahre akkreditiert. Akkreditierungszeitraum: 21. März 2014 bis Ende Frühlingssemester 2019. Attention: The Accreditation period was prolonged for one year until end of summer semester 2020. Conditions:

1. The admission decision needs to be based on transparent criteria, therefore the rejec-

tion letters must contain information on the reasons for rejection (s. chapter 2.1).

Condition has been met.

FIBAA-Accreditation Commission for Programmes on 19 June 2015.

2. The modularisation of the curriculum is to be adapted as follows (s. chapter 3.1):

a) EMU needs to prove that the calculations of ECTS-Credits and workload is com-

prehensible, corresponds to one another, and is used consistently and continu-

ously in all documentation. Overall, it must be consistent with the requirements of

the ECTS User’s Guide.

b) The internship needs to be credited in accordance with the requirements of the

ECTS User’s Guide

c) The module descriptions need to be revised corresponding to the requirements of

the ECTS User’s Guide in terms of

information on the year of study

the description of the Learning Outcomes.


FIBAA-Accreditation Commission for Programmes on 13 September 2019.

3. The study and examination regulation needs to be both verified by legal experts and

revised as follows (s. chapter 3.1):

a) EMU needs to prove the implementation of relative grading according to ECTS.

b) The mutual recognition of degrees and periods of study needs to follow the re-

quirements of the Lisbon Convention.

c) EMU needs to implement an entitlement to compensation for disabilities regarding disabled students in terms of time and form of examinations.



4. The number and frequency of the assessments is to be reduced (s. chapter 3.1).



5. EMU needs to prove that graduates are empowered to conduct academic work and

that there is a defined process of examining the academic and methodological com-petence (s. chapter 3.2).

Condition has been met. FIBAA-Accreditation Commission for Programmes on 19 June 2015.

6. EMU must prove the employability of its graduates by adapting the outcome orienta-tion of the programme (s. chapter 3.6).


FIBAA-Accreditation Commission for Programmes on 13 September 2019. Das Qualitätssiegel der FIBAA wird vergeben.

FOUNDATION FOR INTERNATIONAL BUSINESS ADMINISTRATION ACCREDITATION FIBAA – BERLINER FREIHEIT 20-24 – D-53111 BONN

Assessment Report

Higher Education Institution (HEI): Eastern Mediterranean University (EMU), Turkish Republic of Northern Cyprus

Bachelor programme: Banking and Finance

Qualification awarded on completion: Bachelor of Science (B.S.)

Brief description of the study programme: The Banking and Finance programme aims to provide the core international standards in education in the field of banking and finance areas. Moreover, the programme is designed to develop the student’s analytical, decision-making and communication competencies together with those qualities of self-reliance and responsibility, which will promote personal achieve-ment and contribution to organizations. Theoretical knowledge taught in the programme also arms students with the necessary knowledge to be admitted to the Master’s programme.

Date of opening of the procedure: September 28th, 2012

Date of filing the self-documentation: August 26th, 2013

Date of the site visit: October 22nd to October 23rd, 2013

Type of accreditation: Accreditation

Accredited in Cluster 2 with: Cluster 1: - Business Administration (BBA) - International Trade and Business (BBA) - Management Information Systems (BBA) - Marketing Management (BBA) - Human Resource Management (BBA) - Public Administration (BA) Cluster 2: - Economics (B.S.) - Banking and Insurance (B.S.) - International Finance (B.S.) Cluster 3: - International Relations (BA) - Political Science (BA)

Type of Programme: Undergraduate

Intended length of programme: 8 Semesters

Mode of study: Full-time

Initial Start of the programme: 1992

Student intake: 64

Programme cycle starts in:

Both fall and spring semester

Speed (planned number of parallel years): 1

Number of ECTS point assigned to programme: 240 (s. condition 2 a)

Hours (workload) per ECTS point: 30 (s. condition 2 a)

For accreditation: Statistical data is to be found on page 7 & 8.

Date of the Meeting of FIBAA-Accreditation Commission: March 20th/March 21st, 2014

Resolution:

Accreditation of the programme subject to six conditions, valid for five years.

Duration of Accreditation: March 21st, 2014 until end of spring semester 2019

Conditions:









ECTS User’s Guide








b) The mutual recognition of degrees and periods of study needs to follow the require-

ments of the Lisbon Convention. c) EMU needs to implement an entitlement to compensation for disabilities regarding

disabled students in terms of time and form of examinations.





Proof of meeting these requirements is to be supplied by December 21st, 2014.

Project Manager: Sabine Noe, M.A.

Panel members:

Prof. Dr. Heinrich Stremitzer Vienna University of Economics and Business (Economics, Tax, Insurance, Management, Risk Management)

Prof. Dr. Rainer Paffrath European University of Applied Sciences Brühl (Information Management, Sales Engineering, Marketing)

Prof. Dr. Ottmar Schneck University of Applied Sciences Reutlingen ESB Business School (Economics, Finance, Risk Management) Tobias Kaulfuss Rhenus Media Services GmbH Managing Director (Supply Chain Management, Fulfilment, Finance)

Christian Wilk Frankfurt School of Finance and Management Ph.D. student at the Finance Faculty

Summary

© FIBAA-Akkreditierungsbericht Seite 7

Summary

The panels’ assessment takes into account the self-assessment and the results of the on-site visit and the statement of the HEI to the assessment report dated March 5th, 2014.

The Bachelor programme Banking and Finance (B.S.) of Eastern Mediterranean University (EMU) fulfils with seven exceptions the FIBAA quality requirements for Bachelor programmes and can be accredited by the Foundation for International Business Administration Accredita-tion (FIBAA) under six conditions. It is in accordance with the National and the European Qualifications Framework in their applicable version valid at the time of opening of the proce-dure. It has a modular structure, has been assigned ECTS points and leads to the academic degree of ‘Bachelor of Science’. The degree is awarded by the higher education institution.

The panel members identify need for action regarding the transparency of the admission

decision, the consideration of ECTS, the awarding of credits for the internship, the study and

examination regulations, the assessment load and the academic competence as well as the

employability. Therefore, they recommend the accreditation on condition of meeting the fol-

lowing requirements:









ECTS User’s Guide








b) The mutual recognition of degrees and periods of study needs to follow the require-

ments of the Lisbon Convention. c) EMU needs to implement an entitlement to compensation for disabilities regarding






Proof of meeting these requirements is to be supplied by December 21st, 2014.

Summary


The further not fulfilled quality requirement [Positioning of the programme on Job Market,

chapter 1.2] is not an asterisk criterion, so that a further condition is not necessary and the

measures the HEI takes to solve the identified problem are to be considered in the context of

the re-accreditation.

The panel members identify furthermore development potential for the programme in:

The Statistical data should be collected and monitored systematically (s. Further de-

velopment of the programme).

Programme-related alumni-tracking studies should be conducted (s. chapter 1.1)

The programme’s profile should be clarified and sharpened in order to enhance the

programme’s positioning (s. chapter 1.2).

The future fields of employment for graduates should be described on the basis of a

vocational field analysis (s. chapter 1.2)

The website links for undergraduate TRNC admission should be revised (s. chapter

2.1).

The Introduction courses (especially “Introduction to Banking and Finance”) should

start earlier and the specializations should be assembled later in the course of study

(s. chapter 3.2).

The module descriptions should be provided course-specifically (s. chapter 3.1).

The curriculum with its materials and examinations should be geared more towards

outcome orientation (s. chapter 3.2).

The specializations and electives should be more deepened (s. chapter 3.2).

The teaching and learning methodology should be written down in a formalized con-

cept to fully ensure its further development (s. chapter 3.5).

The lecturer’s CVs should be elaborated in a more consistent way (s. chapter 4.1).

The lecturer’s practical business experiences should be strengthened, for example by

offering sabbaticals (s. chapter 4.1).

EMU should systematically communicate the outcome of the respective evaluations

to both students and lecturers, for example via electronic feedback (s. chapter 5.3).

EMU should conduct alumni evaluations programme specifically in order to get more

detailed results (s. chapter 5.3).

The measures the HEI eventually takes in order to implement the recommendations of the

panel members are to be considered in the context of the re-accreditation.

Furthermore a set of criteria exists, which exceed the quality requirements:

Internationality of student community (s. chapter 3.3),

Foreign language content (s. chapter 3.3),

Provision of student support (s. chapter 4.1),

Number of technical equipment at library workstations for students (s. chapter 4.4),

Individual Counselling and Welfare services for students (s. chapter 4.5),

Programme description (s. chapter 5.4).

For the overall assessment please refer to the quality profile at the end of this report.

Institutions Details


Institutions Details

Eastern Mediterranean University (EMU) was established in 1979 as former Higher Techno-logical Institute with the Departments of Electrical and Electronic Engineering and Mechani-cal Engineering. The transformation to EMU officially took place in 1986 when the new law passed in the Turkish Republic of Northern Cyprus (TRNC) Parliament and EMU was estab-lished as State University, which was to be funded and governed by a foundation appointed by the Government of TRNC. Since then, EMU grants degrees and has produced more than 32.000 graduates from different countries and cultures. As a State University EMU is super-vised by the Ministry of Education. EMU counts the following eleven faculties: Faculty of Business & Economics, Faculty of Engineering, Faculty of Arts & Sciences, Faculty of Law, Faculty of Architecture, Faculty of Communication, Faculty of Education, Faculty of Health Sciences, Faculty of Pharmacy, Faculty of Medicine and Faculty of Tourism. Apart from the named faculties the University consist of five schools, an English Preparatory School and three institutes with 88 associate and undergraduate programmes, 64 Master and Ph.D. pro-grammes. All programmes are fully recognized by the Council of Higher Education in Turkey North Cyprus and Ministry of Education. With students coming from 74 countries and faculty members from 35 different nations, a multicultural environment is created by the University. It is EMU’s mission to offer contemporary, sustainable and quality education at international standards, to conduct research, to contribute to the needs of the society, the meet the needs of stakeholders and graduate students in a multicultural environment having international knowledge and competencies. Except for some study programmes being taught in Turkish, classes are mainly conducted in English. Among others, EMU is a member of The World Association for Hospitality and Tourism Education and Training (AMFORTH), American So-ciety for Engineering Education, Community of Mediterranean University (CMU), European Communication Research and Education Association (ECREA), European University Asso-ciation (EUA) and International Association of Universities (IAU).

The Faculty of Business and Economics (FBE) was inaugurated in 1986. It is one of the

eleven faculties and four schools of the university. The Faculty initially started with two un-

dergraduate programmes in business and economics. Meanwhile, as of spring 2013, the

Faculty of Business and Economics offers twelve undergraduate, six Master’s and four doc-

toral programmes in four academic departments and has also started a School of Applied

Disciplines.

Further development of the programme, implementation of the recommendations from

previous accreditation, statistical data and evaluation results

The Banking and Finance programme is one of the programmes offered by the Department

of Banking and Finance. According to EMU, it started admitting students in 1992 and has

had 527 graduates since then. In addition, EMU provides the following statistical data:

2002/03 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14

# of appli-cants

placed

Sum 72 71 80 144 57 115 202 103 105 100 108 80

F 48 48 59 102 41 87 155 84 79 78 82 56

M 24 23 21 42 16 28 47 19 26 22 26 24

# Enrolled in year one

Sum 66 67 77 126 42 77 115 35 71 78 90 59

F 44 46 57 91 33 58 84 27 53 62 70 43

M 22 21 20 35 9 19 31 8 18 16 20 16

Appraisal


Rate of female

students 66,7% 68,7% 74,0% 72,2% 78,6% 75,3% 73,0% 77,1% 74,6% 79,5% 77,8% 72,9%

# Foreign Students

Sum 27 28 56 106 30 63 113 31 54 71 79 45

F 19 20 44 79 25 50 83 25 42 57 63 34

M 8 8 12 27 5 13 30 6 12 14 16 11

Rate of foreign

students 40,9% 41,8% 72,7% 84,1% 71,4% 81,8% 98,3% 88,6% 76,1% 91,0% 87,8% 76,3%

# Gradua-tes

Sum 40 41 45 69 27 29 29 1 4 2 0 0

F 27 26 34 49 19 21 19 1 3 1 0 0

M 13 15 11 20 8 8 10 0 1 1 0 0

Success rate

60,61% 61,19% 58,44% 54,76% 64,29% 37,66% 25,22% 2,86% 5,63% 2,56% 0,00% 0,00%

Still stu-dying

Sum 0 0 0 3 8 13 33 16 78 99 152 107

F 0 0 0 1 3 5 13 6 31 36 57 42

Left the program

Sum 26 26 32 56 12 41 67 26 24 33 17 1

F 17 20 23 41 11 32 52 20 19 25 13 1

M 9 6 9 15 1 9 15 6 5 8 4 0

Dropout rate

39,39% 38,81% ###### 44,44% ###### 53,25% ###### 74,29% 33,80% 42,31% 18,89% 1,69%

Distribution of grades:

Appraisal

The overall development of the programme can be considered mainly positive. The increas-

ing number of applicants (72 in 2002/03 versus 108 in 2012/13) demonstrates a steady de-

mand for the programme. Although the number of applicants decreased to 80 in 2013/14, the

programme runs since 1992. Therefore, the panel comes to the conclusion that it progres-

sively established itself. The number of enrolments confirm this estimation as they are fluctu-

ating, but keep a quite consistent average. The panel is pleased to note the steadily high rate

of female students that confirm EMU’s commitment to gender equality (compare chapter

1.4). Worthy of note is also the remarkably high rate of foreign students that has been up to

91% in 2011/12. Not only does EMU live up with its own claim of being internationally orient-

ed but also demonstrates the attractiveness of the programme for international students.

However, the success rates are quite low and the corresponding drop-out rates vary from

1,69% up to 74%. According to EMU, this high drop-out rate is mostly due to non-academic

reasons such as financial problems, family problems or health problems. These reasons

have been identified through phone interviews conducted with the students. Because “finan-

cial problems” was stated as the number one reason, EMU administration, in collaboration

with faculty deans and school directors, created resources to provide more financial assis-

tance to the students. Therefore, scholarships have been implemented. The panel highly

values EMU’s commitment on this case as it demonstrates that EMU properly responds to

Appraisal


student’s issues. The average time for students to graduate in the Banking and Finance pro-

gramme is eight semesters. The panel considers this to confirm the overall student workload.

There is no information on the average grade of final degree, but on the distribution of grades

for taught courses in the programme. The distribution shows that a variety of grades has

been awarded. The panel comes to the conclusion that the grading is based on a realistic

setting. In order to further enhance the development of the study programme, the reviewers

recommend EMU to systematically collect and monitor the statistical data.

Description and appraisal in Detail



1. Strategy and Objectives

1.1 Logic and transparency of programme objectives (Asterisk Criteri-on)

The Banking and Finance programme aims to provide the core international standards in

education in the field of banking and finance areas. Therefore, the main objectives of the

programme are as follows:

There is a focus in practical aspects of Banking and Finance. The emphasis through-

out the programme is placed on the description of the application of manual and

computer-based quantitative and qualitative tools and methodologies in identifying

and solving problems and making decisions in banking and finance.

The programme is designed to develop the student’s analytical, decision-making and

communication competencies together with those qualities of self-reliance and re-

sponsibility which will promote personal achievement and contribution to organiza-

tions.

The programme qualifies graduate students with all the necessary tools to have ex-

cellent job opportunities. Learning by doing is a slogan of the programme, as it is one

of EMU’s few programmes which consolidates the knowledge obtained in the pro-

gramme via having an internship in the banking and finance sector (also s. chapter

3.1).

The programme’s graduates are well equipped to continue to Master’s programmes.

Theoretical knowledge taught in the programme arms students with the necessary

knowledge to be admitted to the Master programmes.

In addition to the specific learning outcomes, EMU also identified generic learning outcomes

for all of the programmes of the faculty. These include demonstration of (oral and written)

communication skills, analytical and problem solving skills and awareness of both ethical and

global issues. EMU conducts an online survey to solicit alumni evaluation. This alumni eval-

uation provides valuable feedback about the courses and missing topics. According to EMU,

the graduates are employed in the European Bank for Reconstruction Development (Lon-

don), Alfa bank (Albania), Bank of Montreal (Canada) and HBSC Bank (Cyprus).

Appraisal:

EMU defines the programme objective in an intelligible manner and in accordance with the

learning outcomes and the targeted vocational fields, such as the above mentioned Banks –

although it could be elaborated more precisely. The defined outcomes properly take into ac-

count academic ability in terms of continuation to Master’s programmes. Also, the pro-

gramme’s objectives contain professional ability as well as comprehensive employability,

especially regarding analytical skills as well as the mandatory internship (see chapter 3.1).

Personal development is adequately addressed through the mentioned generic outcomes

that, amongst others, include awareness of ethical and global issues. The panel comes to

the overall conclusion that the described objective of this Banking and Finance programme

meets the academic state of the art and the required level of qualification to be awarded on

completion and to perform in the envisaged banking and finance field.

EMU does take into account alumni-evaluations and provided a report for all Faculty gradu-

ates. However, these evaluation findings do not contain enough information on alumni-

tracking. The panel therefore recommends EMU to involve information on the alumni where-



abouts and to break these information down programme-related in order to further enhance

the programme.

Quality Ratings Exceptional Exceeds quality

requirements Meets qualitiy requirements

Does not meet quality requirements

not relevant

1. STRATEGY AND OBJECTIVES

1.1* Logic and Transparency of Programme Objectives

x

1.2 Positioning of the programme

Regarding the positioning of the programme on Education Market, EMU claims that the com-

petitiveness of the programme can be observed through alumni’s success. Students are

equipped with solid computer skills, strong analytical and decision making in English lan-

guage to apply obtained banking and finance knowledge. Small class sizes in upper level

courses, coupled with team-based assignments allow students to develop a good rapport

with peers and teachers. This teaching approach allows students to improve both their com-

munication analytical skills. The programme’s alumni work in private enterprises, financial

companies, insurance companies, multinational financial firms and banks.

The programme is positioned on the job market as a programme that provides employers

with individuals who have been exposed to the practical and theoretical issues in banking

and finance field. The banking and finance programme is recognized as the leading business

programme for people with strong foreign skills and a keen interest in global business. The

programme’s curriculum is designed in a way that students observe and grasp the necessary

standardized knowledge and skills to be able to work anywhere in the world effectively as

high-level, recognized experts in their field.

In terms of the positioning of the programme within EMU’s overall strategy, EMU claims the

Faculty’s mission statement to be in line with the EMU mission statement. Thus, the Faculty

of Business and Economics on the one hand distinguishes itself by a high quality education

and learning experience, a diverse student body in an international setting and the fostering

of collaborative ties with EMU’s Stakeholders. On the other hand, according to the overall

mission statement, EMU offers contemporary and sustainable education at international

standards and contributes to the needs of society and graduates students in a multicultural

environment. As stated in its Strategic Plan 2012-2015, EMU aims to provide student-centred

education to an international student body. The university is currently adopting new quality

assurance principles and guidelines to improve quality in education and administrative affairs

parallel to European Standards and Guidelines for International Quality Assurance in Higher

Education. Although the universities of Northern Cyprus do not officially participate in the

Bologna Process, EMU has dedicated itself to follow the principles set by Leuven Commu-

nique of 2009.

Appraisal:

By defining competence goals comprehensibly as well as by outlining the specific teaching

methods, EMU positions its banking and finance programme well on educational market.

Due to the fact that the banking and finance programme is quite similar to other programmes

offered by the Faculty of Business and Economics and distinguishes itself just by some addi-

tional courses, the panel recommends EMU to clarify and sharpen the programme’s profile in

order to enhance the programme’s positioning.



Even though EMU provides a description of the programme’s competence goals and objec-

tive as well as the fields of employment for graduates, the demand for graduates has not

been systematically determined yet. Overall, the positioning on the job market lacks infor-

mation on the foreseeable demand and therefore does not meet the quality requirements.

Continuing the already noted recommendation to conduct programme-related alumni-

tracking studies, the panel further recommends EMU to describe the future fields of employ-

ment for graduates on the basis of a vocational field analysis.

Due to the programme being incorporated into the Faculty of Business and Economics, its

mission statement is in line with EMU’s overall strategy and with the Strategic Plan. The pro-

gramme especially pursues student-centred education and focuses on international stand-

ards and an international student body. So far, these goals are in accordance with EMU’s

strategic planning.

Quality Ratings Exceptional Exceeds

quality requi-rements

Meets quality requirements


not relevant


1.2 Positioning of Programme

1.2.1 Positioning of the Programme on Edu-cation Market x

1.2.2 Positioning of the Programme on Job Market (Employability of Graduates) x

1.2.3 Positioning within HEI's overall Strategy x

1.3 International orientation of the programme (Asterisk Criterion)

According to its own mission statement, internationality is one of EMU’s core values. There-

fore, internationality is built into the Banking and Finance programme in different ways. First

of all, the university and the Faculty of Business and Economics serve an internationally di-

verse student body (see also chapter 3.3). Secondly, EMU further promotes internationality

by hiring faculty members with diverse backgrounds and experience. Furthermore, the cur-

riculum is held in English and also combines both local and global focus. Students also can

take elective courses from different departments to strengthen their global focus and to ena-

ble them to increase their employability at the international level. To further promote interna-

tionality, the outlines of the courses are organized in a way that covers the main international

topics in a field. Exam questions form finance courses are prepared according to the Char-

tered Financial Analyst Level 1 exam test. Moreover, the international orientation is demon-

strated by numerous universities EMU has signed collaboration agreements with (for exam-

ple North Dakota State University, USA; Trier University of Applied Sciences, Germany;

Vancouver Island University, Canada; Islamic University in Uganda, Uganda; s. chapter 4.3).

Appraisal:

It is beyond doubt that the programme has an international focus especially in terms of

teaching. The panel comes to the conclusion that the internationally diverse student body,

the use of English as language of instruction, international contents in many courses and

existing collaboration agreements promote the employability of the graduates in a convincing

manner and equip them with skills needed to perform well in an international environment,

although the overall skills for employment do not fully meet the requirements (s. chapter 3.6).




requirements



not relevant

1.3* International Dimension of the Pro-gramme x

1.4 Gender equality and equality of opportunity

EMU’s commitment to equality and diversity is stated as one of the main objectives that the

university strives to achieve. The Faculty re-emphasises its commitment to equality and pre-

vention of discrimination and harassment furthermore by introducing an Anti-Discrimination

Policy:

“The Faculty of Business and Economics is committed to promoting equal opportunity and

providing a working and learning environment free from discrimination and harassment that

may, amongst other things, be based upon race, national or ethnic origin, political affiliation,

religion, sex, sexual orientation, disability, familial and/or marital status, or any other factor

prohibited by law. Conduct or behaviour of such kind, whether by students or staff, will be

treated in the most serious manner and should, wherever possible, be reported to the Dean

or to any other person of authority within the University. Any such complaints received by the

Dean shall be investigated promptly and forwarded to the University’s disciplinary bodies

whenever circumstances require.” Furthermore, scholarships are provided for students with

financial problems (s. section “Further development of the programme”).

Appraisal:

The Anti-Discrimination Policy clearly demonstrates EMU’s commitment to promoting gender

equality and equal opportunities. During the discussions on-site with lecturers and students

the panel has been convinced that this commitment is living reality. As stated above, stu-

dents in particular life situations are supported by scholarships EMU is providing. However,

there is no entitlement to compensation for disabilities in terms of time and form on the pro-

gramme or through alternative forms of examination (s. chapter 3.1).


requirements



not relevant

1.4 Gender equality and equality of oppor-tunity x

2. ADMISSION (ADMISSION PROCESS AND PROCEDURE)

The University’s Registrar’s Office manages undergraduate admissions. EMU Admissions

by-laws specify the minimum requirements for students to be able to study at the University.

Admissions may also be made with credit; this recognises prior study at other universities or

jurisdictions as giving equivalent status to the University courses or programs. Overall, stu-

dents from different countries and education systems can be admitted to the programme.

Regulations regarding the student admissions are categorised for different nationalities as

follows:



a) Nationals of Turkish Republic of Northern Cyprus (TRNC):

TRNC nationals who are high school graduates are admitted if they show a satisfac-

tory performance at the university entrance examination administered by EMU. Alter-

natively, TRNC students are admitted if they hold UK-based GCE/IGCSE/GCFE Or-

dinary level (or equivalent) examination results in five different subjects, of which one

must be Mathematics with minimum grade of “C” or above.

b) Turkish Nationals:

Students from mainland Turkey are admitted to EMU through a central Turkish Uni-

versity Entrance Examination administered by the Office of Student Selection and

Placement. This examination is organised by Turkish Authorities for the placement of

the Turkish students into Turkish Universities in Turkey and the Turkish Cypriot Uni-

versities in TRNC. Successful students who include the programme in their list of

preferences are placed to the programme based on their scores.

c) Foreign Nationals (non-Turkish, non-TRNC)

International students other than Turkish/TRNC nationals who have a high school di-

ploma/certificate or equivalent obtain acceptance according to their academic perfor-

mance. An international student with a minimum average diploma grade of “C” is ad-

mitted to the programme. Alternatively, international students are admitted, if they

hold GCE/IGCSE/GCFE Ordinary Level (or equivalent) examination results in five dif-

ferent subjects, of which one must be Mathematics with minimum grade “C” or above.

Citizens of the Turkish Republic are admitted to EMU according to a set quota and based on

scored obtained from the Student Selection and Placement Exam by the Turkish Republic

Higher Education Board. Students from countries other than the Turkish Republic of Northern

Cyprus and Turkish Republic are admitted to the University based on the set quota for third

countries and their performance in high school. No professional experience is required when

applying for the study programme at hand for all student groups named.

All students are required to take the English Language Proficiency Test and achieve the min-

imum English Language requirements. This requirement is waived for students with interna-

tionally accepted English language certificates. Students with minimum IELTS score of 6.0

and TOEFL score of 537/203/75 (paper based/computerised/internet based) are exempted

from the English Language Proficiency Test. GCE/IGCSE/GCFE English subject core of min-

imum grade “C” can also be used for the English Language Proficiency Test exemption. The

exempted students are directly admitted to the freshman year. Students who do not have the

required level of English to follow the courses (that is 60 points and above) have to complete

additional English courses (“English Preparatory School”) for one year and are allowed to

follow less courses (for example with less than 40 points in the English Proficiency Test they

are allowed to do just one freshman course and the Turkish History course and have to com-

plete 12 additional hours of English courses):



According to EMU, admission policies are published in the “Entrance Exams and Student

Admission By-Law”, university promotion materials, on the EMU website and in publications

supporting individual programmes. They also are supported by admission advice provided by

representatives employed in Promotion Offices of the university located in different countries.

The admission decision is communicated to the student by written notification.

Appraisal: Due to categorisation of the different kinds of admission requirements by nationalities, EMU ensures that these admission requirements are defined and transparent. In this regard, the particular national requirements (such as Central Turkish University Entrance Examination) are taken into consideration appropriately. Overall, qualified students are admitted. The pos-sibility of recognising prior studies sufficiently ensures transfers from other types of pro-grammes, although the requirements of the Lisbon Convention are not sufficiently taken into account (s. chapter 3.1). For Turkish students a selection procedure is carried out according to national regulations. It ensures the acquisition of particularly qualified students in line with the programme’s goals. TRNC-students are admitted based on the results of an EMU en-trance exam and for students from third countries there are defined selection criteria that ensure comparability of the admission’s requirements. The panel comes to the conclusion that the admission requirements are sufficient. Professional experience is, as it is also the case in many Bachelor-study programmes in Europe, no admission requirement and accord-ing to the panel not relevant.

Both by clearly defining minimum scores for English language requirements (TOEFL, IELTS

etc.) and by conducting the English Proficiency Test, EMU ensures that the students enrolled

are able to actively participate in the classes that are held in English. Additionally, EMU pro-

vides one-year English Preparatory School with several steps to achieve the required English

language skills (s. figure above), so language competence is fully ensured.

Overall, EMU’s “Entrance Exams and Student Admission By-Law” and EMU’s website de-

scribe and explain the admission procedure in a transparent manner. However, on the pro-

vided website link for TRNC undergraduate admissions, there is only information on the ad-

mission for master programmes, hence the panel recommends EMU to revise the website

links. Regarding the transparency of the admission decision, the panel had the opportunity to

inspect examples of positive as well as negative admission decision letters. The admission

decision is communicated by written notification. However, the rejection letters do not contain

information on the reasons for the rejection, hence are not sufficiently based on transparent criteria. For these reasons, the panel recommends the accreditation on the condition that

the admission decision is based on transparent criteria and the rejection letters contain in-

formation on the reasons for rejection.




requirements


Does not meet quality re-

quirements

not rele-vant

2. ADMISSION (REQUIREMENTS AND PROCEDURE) AND OBJECTIVES

2.1* Admission Requirements x

2.2 Selection Procedure (if available) x

2.3 Professional Experience (* for Master Programmes of the "further Educa-tion" Type)

x

2.4* Ensuring Foreign Language Compe-tence x

2.5* Transparency of Admission Proce-dure x

2.6* Transparency of Admission Decision condition

3. Implementation

3.1 Structure

According to EMU, the study programme provides a four-year (eight semesters) education

with a total of 240 ECTS-Points. Each academic year consists of two academic semesters.

The total of courses and examination days cannot be less than 80 days for each semester.

Each regular semester lasts about 17 weeks and 2-3 weeks are taken up by midterm and

final exams. One ECTS-Point is based on 30 hours of student workload. No Bachelor’s-

Thesis is written. Each course of the programme is considered as a separate module. Ac-

cording to the provided curriculum overview, the progamme requires 122 credit hours to be

taken for a successful completion. More specifically, the students take five courses for each

of the eight semesters. 32 courses can be considered core courses. Additionally, the stu-

dents take a 2-credit History/Turkish language course in the first semester. Three of all

courses are University Electives that can be chosen from a list of other courses at EMU,

usually taken from the arts, humanities and social sciences. Five courses are so-called Area

Electives which must be taken from the courses offered by the Faculty. Also, the programme

includes an internship in the sixth semester which is not credited. In its self-documentation,

however, EMU claims that every student in the programme is required to take 106 required

credit hours and 24 elective credit hours (which would be 130 credit hours in sum).

Regarding the application of the European Transfer and Accumulation System (ECTS) and

modularization, EMU claims the university courses to be credited with three ECTS-Points

according to the EMU Curriculum Principles and Guidelines (University Senate decision).

This means that the course will have three hours of classroom contact duration. Courses with

laboratory or tutorial work can have one hour extra class time and this may contribute to the

credit by ½ hours. The correspondences between EMU credit hours, ECTS-Points and the

number of hours students may be expected to spend on the programme are as follows:



Student course performance is evaluated by using continuous assessment mechanisms that

include midterm and final examination(s), quizzes, assignments, in-class activities/exercises

and course projects. These mechanisms are organized in order to check the students’ ability

in meeting the course and programme outcomes. The student is given a mark (which is typi-

cally out of 100) and at the end of the semester the student’s cumulative average mark is

converted to a letter grade by the course instructor. According to the study and examination

regulations, in every academic semester a minimum of one and a maximum of three mid-

terms and a final examination are given to students each course.

The module descriptions contain, amongst others, the learning outcomes. EMU also con-

ducts evaluations regarding the student workload, alumni and programme success rate. The

workload evaluation is conducted online for every course at the end of every semester to see

if the course load is manageable.

Besides, all course requirements must adhere to the study and examination regulations of

the FBE and EMU. The rules and regulations contain, amongst other things, the Credit-

System, regulations for repeating courses, student status, horizontal and vertical student

transfers as well as graduation and diploma fees. According to §5. (4) of the study and exam-

ination regulation, students who are admitted to EMU through transfer from other universities

must take a minimum of half of the total credit-hours required by the relevant programme in

order to graduate from EMU. Plus, recognition of prior study at other universities or jurisdic-

tions will be possible if the University courses or programs are equal to EMU’s.

EMU offers student support through Academic Assistance, Academic Advising, Career Ad-

vising and through office hours.



Module No.

Title of Module / Submodule

Credit Points in Semester Total Method of teaching

1. 2. 3. 4. 5. 6. 7. 8. Hours in Class

Hours Self-Study

Teaching hours per

Week (based on15

weeks)

i.e. lecture course, seminar

S1 SEMESTER 1 17

S 1.1 Introduction to Economics - I 3 3 4 L,T

S 1.2 Communication in English - I or Academic English - I 3 3 4 L,T

S 1.3 Mathematics for Business and Economics - I 3 3 4 L,T

S 1.4 Introduction to Political Science 3 3 4 L,T

S 1.5 Introduction to Information Technology - I 3 3 4 L,T

S 1.6 Turkish as a Second Language or History of Turkish Reforms 2 2 2 L

S2 SEMESTER 2 15

S 2.1 Introduction to Economics - II 3 3 4 L,T

S 2.2 Communication in English - II or Academic English - II 3 3 4 L,T

S 2.3 Introduction to Global Politics 3 3 4 L,T

S 2.4 Introduction to Business - I 3 3 4 L

S 2.5 Introduction to Information Technology - II 3 3 4 L,T

S3 SEMESTER 3 15

S 3.1 Statistics - I 3 3 4 L,T

S 3.2 Business Communication 3 3 3 L

S 3.3 Intermediate Microeconomics 3 3 4 L,T

S 3.4 Principles of Accounting-I 3 3 4 L,T

S 3.5 University Elective - I 3 3 3 L

S4 SEMESTER 4 15

S 4.1 Principles of Accounting - II 3 3 4 L,T

S 4.2 Introduction to Banking and Finance 3 3 3 L

S 4.3 Statistics - II 3 3 4 L,T

S 4.4 Intermediate Macroeconomics 3 3 4 L,T

S 4.5 University Elective - II 3 3 3 L



S5 SEMESTER 5 15

S 5.1 Commercial Bank Management 3 3 3 L,T

S 5.2 Financial Management 3 3 4 L,T

S 5.3 International Banking 3 3 3 L

S 5.4 Applied Financial Statistics 3 3 3 L

S 5.5 Area Elective - I 3 3 3 L

S6 SEMESTER 6 15

S 6.1 Money and Banking 3 3 4 L,T

S 6.2 International Finance 3 3 3 L

S 6.3 Corporate Finance 3 3 3 L

S 6.4 Financial Statement Analysis 3 3 3 L

S 6.5 University Elecitive - III 3 3 3 L

S 6.6 Internship 0 0 0 -

S7 SEMESTER 7 15

S 7.1 Marketing of Financial Services 3 3 3 L

S 7.2 Investments 3 3 4 L,T

S 7.3 Corporate Banking Law 3 3 3 L

S 7.4 Area Elective - II 3 3 3 L

S 7.5 Area Elective - III 3 3 3 L

S8 SEMESTER 8 15

S 8.1 Portfolio Management 3 3 4 L,T

S 8.2 Risk Management and Insurance 3 3 3 L

S 8.3 Credit Analysis and Lending 3 3 3 L

S 8.4 Area Elective - IV 3 3 3 L

S 8.5 Area Elective - V 3 3 3 L

Legende:

L: Lecture

S. Seminar; T: Tutorial



Appraisal:

According to the panel, the structure of the programme is barely appropriate in terms of core

subjects and specializations, due to the fact that the several banking and finance pro-

grammes by FBE are quite similar to each other. The panel takes the view that the course

“Introduction to Banking and Finance” that is allocated in the fourth semester, should take

place earlier (at best in the first semester) to fully take account of the programme’s direction

and study description and in order to distinguish the programme (s. chapter 3.2).

By combining 32 core subjects from the extended field of banking and finance, five Area

electives offered by the Faculty of Business and Economics and three University Electives

that can be chosen from any courses, the structure focuses on banking and finance know-

how, but still is quite balanced and, due to the Area and University Electives, helps the stu-

dents to acquire the skills related to the programme’s objective in an individual way (also s.

chapter 3.2 for further information).

The panel, however, criticizes the lack of application of the European Transfer and Accumu-

lation System. First of all, the calculation of the ECTS-Points is incomprehensible and does

not accommodate to the requirements of the ECTS User’s Guide and the envisaged work-

load. Plus, the indications of required credits for completion vary from 240 to 122 to 130 and

so there is no valid, comprehensible information on the real number of awarded credits. Ac-

cording to the ECTS User’s Guide, one credit point is awarded if a student workload of 25 to

30 hours is accomplished. Therefore, a total sum of 240 ECTS-Points would be 6,000-7,200

hours of student workload (contact hours as well as self-study time). According to EMU, one

course usually includes three hours in class and three hours of self-studying per week. Given

a 15-week-semester, one course usually has a workload of 90 hours and is credited with

three ECTS-Points (calculating with 30 hours per credit). Students normally take five courses

per semester. Following this calculation, 15 ECTS credits per semester are awarded (plus, in

the first semester two additional credits are awarded for the course “Turkish as a Second

Language”). Therefore, the eight semester study programme consists of 122 ECTS-Points.

The panel cannot comprehend how EMU calculates the awarding of 240 ECTS-Points. Fur-

thermore, the provided curriculum overview does state Credit-Hours whereas in the course

descriptions ECTS-Points are indicated. On the one hand, this presentation is opaque, on

the other hand it suggests that ECTS-Points are not the basic awarding-scheme. Additional-

ly, the internship is not credited which does not meet the requirements of the ECTS User’s

Guide. If internships are required to complete the programme, they are part of students’

learning outcomes as well as workload and therefore necessitate an allocation of credit. In

such case, the number of credits allocated to the internship must be included within the

overall number of credits for the particular academic year.

According to the ECTS User’s Guide the workload needs to be evaluated, that is the estima-

tion of the workload (including self-study time) should be regularly refined through monitoring

and student feedback. A positive feature is that EMU provided a student feedback form that

indicates a question on workload (“The approximate number of hours spent each week

studying for this course”) and an evaluation that confirms the considered three hours of self-

study time. Also the student success rate and alumni surveys are conducted (compare chap-

ter 1).

The curriculum is modularised (one course per module) and workload indications are made

(see above). EMU provided module descriptions. However, these descriptions lack sufficient

information on the year of study (that is the semester in which the course is being held). Ad-

ditionally, the learning outcomes are described in a too general manner and are not suffi-

ciently in terms of outcome orientation. During the on-site visit the panel had the opportunity



to get access to EMU’s learning platform. There, programme syllabi were provided. Accord-

ing to the panel, these syllabi were well elaborated and contained detailed course infor-

mation. Therefore, EMU could base its module descriptions (of course in line with the re-

quired information according to the ECTS User’s Guide) on these syllabi. Although all course

descriptions are available, the Area and University Electives are not provided in a course-

specific manner but as descriptions (e.g. mandatory courses) for their respective main study

programme. In order to improve transparency, the panel recommends EMU to revise the

module descriptions course-specifically.

Overall, the panel recommends the accreditation of the programme on the condition to

adapt the modularisation of the curriculum as follows:

EMU needs to prove that the calculations of ECTS-Credits and workload is compre-

hensible, corresponds to one another, and is used consistently and continuously in all

documentation. Overall, it must be consistent with the requirements of the ECTS Us-

er’s Guide.

The internship needs to be credited in accordance with the requirements of the ECTS

User’s Guide.

The module descriptions need to be revised regarding the information on the year of

study and the description of the Learning Outcomes.

The provided study and examination regulation properly takes into account both the structur-

al and national requirements for the programme, although, it has not been verified by legal

experts yet. Mutual recognition of modules in term of vertical and horizontal changing the

study programme are regulated with manageable rules. However, the handling of recognition

of prior studies in case of equivalence is opposed to the regulations of the Lisbon Convention

and thus does not meet the requirements. The convention stipulates that degrees and peri-

ods of study must be recognised unless substantial differences can be proved by the institu-

tion in charge of recognition. Moreover, there must not be a recognition limit (contrary to §5

(4) of the existing study and examination regulation).

In order to improve transparency of performance levels, in addition to their national scale,

Higher Education Institutions should use a Grading Scale as translation device into other

grading systems. Therefore, relative ECTS grading (an ECTS grading table that provides a

statistical distribution for each degree programme or group of homogenous programmes)

needs to be implemented. EMU’s study and examination regulations, however, are missing

arrangements in terms of relative grading or regarding an ECTS grading table. Neither is a

relative grade awarded on the sample diploma supplements provided by EMU. Furthermore,

the panel misses reliable rules for an entitlement to compensation for disabilities regarding


The panel therefore recommends the accreditation of the programme on the condition that

the study and examination regulation needs to be both verified by legal experts and revised

as follows:

EMU needs to prove the implementation of relative grading according to ECTS.

The mutual recognition of degrees and periods of study needs to follow the require-

ments of the Lisbon Convention.

EMU needs to implement an entitlement to compensation for disabilities regarding disabled students in terms of time and form of examinations.

Due to the fact that all courses last one semester, that a mandatory internship is included

and the students have the possibility to stay one semester abroad (s. chapter 4.3), the option



of spending periods of time at other HEIs and in practice without any loss of time can be real-

ised appropriately.

As stated in chapter 2, the panel comes to the conclusion that the expected admission quali-fications are properly considered. The programme’s curriculum is designed suitable. Yet, integrated module examinations have not been implemented in the study programme at hand, since the modules continuously consist of at least two examinations (mid-term and final examinations). The reviewers consider this examination load as too high. Therefore, they recommend the accreditation under the condition that EMU visibly reduces the number and frequency of assessments, especially throughout the semester. All relevant documents are to be adjusted accordingly.

On-site the students confirmed the described student support services to meet their needs.

EMU also takes into account evaluation findings in terms of student workload and success

rate (see above). The workload calculations, as criticised above (s. condition 3 a), need to

meet the requirements of the ECTS User’s Guide.





quirements

not rele-vant

3. PROGRAMME DESIGN

3.1 Structure

3.1.1 Structure of the Programme (Core Subjects / or Specialisations (Com-pulsory Electives) / optional Electives/ practical Components)

x

3.1.2* Application of the "European Credit Transfer and Accumulation System (ECTS)" and the Modularisation

condition

3.1.3* Study and Examination Regulations condition

3.1.4* Student workload condition

3.2 Content

Regarding the programme’s content, EMU states that the students first take courses that

provide them with a general framework that can be used to understand business environ-

ment (such as economics, management, statistics). This introductory phase is followed by

more advanced and specialized banking and finance courses (for example Corporate Bank-

ing Law, Money and Banking, Marketing of Financial Services). Elective courses, which stu-

dents choose after consulting with their academic advisors, are aimed at further equipping

students with tools and techniques needed to solve banking and finance problems and is-

sues. Student’s further career plans are an important decisive factor in mapping out the ef-

fective combination of required and elective courses. Additionally, mathematics, computer

skills and English language courses are mandatory, as are courses on Political Science and

International Relations.

Although the self-assessment report does state the qualification title to be a Bachelor of Arts,

on-site, EMU indicated the title to be Bachelor of Science (B.S.). According to EMU, the qual-

ification title is a widely used and accepted degree title for such programmes. Due to the fact

that the curriculum covers the main fields of banking and finance, but also enables students



to broaden their outlook, EMU decided the programme description to be “Banking and Fi-

nance”.

In terms of integration of theory and practice, the programme aims to have an effective cou-

pling of theory with practice. Therefore, the main courses established in the curriculum aim to

teach the theoretical aspects of the topic and enhance obtained knowledge through practical

real application samples. Integration of the real life examples are observed through assign-

ments, projects, presentations and working with application software such as SPSS or

Eviews. Additionally, a variety of instruction methods such as in-class exercises and case

studies provide students with the opportunity to apply theoretical concepts to real banking

and finance problems. The required internship in banking or financial sector additionally

helps to apply theoretical knowledge in practice.

The programme includes numerous interdisciplinary courses such Introduction to Information

Technology, Applied Financial Statistics or Business Communication. In addition, three Uni-

versity Elective courses and five Area Elective courses can be chosen from various depart-

ments, adding multidisciplinary elements to the programme. The students develop their re-

search competencies by completing research assignments and individual/group projects in

their courses. These research assignments also enables them to apply theories and con-

cepts. Faculty members are encouraged to prepare exams that require students to apply

theories and concepts that have been covered in class. Plus, the course “Academic English”

enables the students to explore and evaluate research techniques by writing two essays.

Regarding the examinations, each instructor determines the course requirements in align-

ment with the respective learning outcomes and follows the guidelines established by EMU

and the Faculty of Business and Economics. According to EMU, exams should test the stu-

dents’ understanding of theories and concepts covered in the course. Every effort is made to

ensure that learning assignment methods are based on course and programme learning out-

comes.

Appraisal:

The overall content of the programme properly takes into account the programme’s objective.

However, the reviewers are not fully convinced by the arrangement of the courses. As al-

ready mentioned in chapter 3.1, the introductory course for Banking and Finance takes place

in the fourth semester. As this arrangement does not fully take account of the programme’s

description as well as direction, the reviewers therefore recommend EMU to start the Intro-

duction courses (especially “Introduction to Banking and Finance”) earlier and to assemble

the specializations later in the course of study in order to improve the curriculum’s internal

logic. Despite, Area and University Electives enable students to acquire beneficial skills in

accordance with their own interests. EMU’s efforts to align the courses with the qualification

and competence goals are clearly visible to the panel. However, the courses could be geared

more towards learning outcomes. Therefore, the panel recommends EMU to revise the con-

tent of the curriculum with its materials and examinations in terms of outcome orientation. In

addition, according to the panel, the specializations and Electives should be more deepened. Although EMU indicated the qualification title in its self-assessment report as Bachelor of Arts, EMU’s website and the Diploma Supplements indicate it to be Bachelor of Science. On-site, EMU stated the programme’s title also to be a Bachelor of Science (B.S.). Due to nu-merous courses with focus on quantitative methods such as Statistics or Mathematics, the panel assesses the qualification title “Bachelor of Science” (B.S.) to be compatible with the overall programme’s content and the national requirements. The programme description “Banking and Finance” corresponds to the content of the curriculum in a sufficient extent (alt-hough taking into account the already mentioned arrangement of the courses that could be improved and the fact that the curricula of the programmes of Banking and Finance Depart-ment are that similar).



The link between theory and practice is clearly visible, especially through the mandatory in-ternship. Also, the students apply theories and concepts by working with real-life cases, case studies or exercises in a sufficient manner. Both the University Electives and the core cours-es such as “Introduction to Global Politics” give evidence that the programme properly pro-motes interdisciplinary thinking. Regarding the methodological competence and academic work, the panel acknowledges that the programme contains research assignments to em-power students to conduct academic work and that the course “Academic English” picks up some research items. Due to the fact that there is neither a final thesis nor a particular com-pulsory course for academic work and writing (“Academic English” is an Elective that can be chosen instead of “Communication in English”), the panel comes to the conclusion that the programme does not sufficiently ensure that graduates are empowered to conduct academic work and that the programme lacks a defined process of examining the academic and meth-odological competence. Therefore, the panel recommends the accreditation of the pro-gramme on a corresponding condition. The submitted selection of examinations on-site demonstrate a sufficient level of performance to attain the respective qualifications, although the examinations should be more geared towards learning outcomes, as stated above. The performance of examinations is not arranged in an integrative manner. The panel, however, considers the form of examinations as being adequate (also see chapter 3.1). As mentioned in chapter 3.1, the examinations are characterized by a variety of forms such as final exami-nation(s), quizzes, assignments, in-class activities/exercises and course projects.





quirements not relevant

3. PROGRAMME DESIGN

3.2 Content

3.2.1* Logic and conceptual Coherence of Programme / Curriculum x

3.2.2* Rationale for the Qualification Title x

3.2.3* Reasons given for programme de-scription x

3.2.4* Integration of Theory and Practice x

3.2.5 Interdisciplinarity x

3.2.6* Methodological Competence and Academic Work condition

3.2.7* Performance in Examinations and Thesis

x

3.3 Internationality

In terms of internationality, EMU claims the curriculum to combine local and global focus.

Additionally, students can choose electives with an international focus or from different de-

partments. The International Centre also provides students with opportunities to practice

such skills as management, negotiation, communication and conflict management in order to

equip them with skills required in an international and cross-cultural environment. Also, EMU

has signed collaboration agreements with HEIs in different parts of the world. These ex-

change programmes help students to improve their skills in terms of international tasks. Alt-

hough the programmes of the Faculty of Business and Environment mainly attract students



from Cyprus and Turkey, EMU and FBE also serve an internationally diverse student body.

For example, students come from Nigeria, Iran, Cameroon, USA, Russia or Simbabwe. Such

a diverse population enables the students to familiarize themselves with different cultures,

understand cultural differences and learn how to live and work with individuals from different

ethnic and cultural backgrounds. The faculty members are well-qualified academics with PhD

degrees from universities in different countries. The instructors transfer their global experi-

ence to the classroom in order to create an effective learning environment. English is the

programme’s medium of instruction, hence all courses are taught in English. Additionally,

students have the possibility of taking foreign language courses as electives.

Appraisal:

The international and intercultural aspects of the curriculum are consistent with the interna-

tional orientation of the programme (see. chapter 1.3), but could be more visible. The panel

particularly would like to highlight the international composition of the student community.

The distribution of the student’s nationalities demonstrates that a significant proportion of the

student community comes from abroad. On-site, the students confirmed that EMU even cel-

ebrates each nationality’s holidays. According to the panel, this highly promotes the interna-

tional student life experience of the graduates, who, without any doubt, are equipped with the

skills they need to perform the tasks required in an international environment. The CVs of the

teaching staff as well as discussion with lecturers on-site have shown that most of the lectur-

ers have experience abroad. Therefore, the international composition of the teaching staff

corresponds to the requirements of the programme. By solely using English as language of

instruction, in terms of course materials and due to the possibility of choosing other foreign

languages as electives, the foreign language content plays an important role and can be as-

sessed above-average.





not relevant

3. PROGRAMME DESIGN


3.3.1* International and intercultural aspects x

3.3.2 Internationality of Student Community x

3.3.3 Internationality of Teaching Community x

3.3.4 Foreign language content x

3.4 Additional acquisition of knowledge and skills

The FBE Assurance and Learning Committee identified generic learning outcomes for its

programmes. Amongst others, these are communication skills, analytical and problem solv-

ing skills, understanding ethical dimensions of problems and having an understanding of

global issues. These generic outcomes can be found in several courses, e.g. “Business

Communication” or “Introduction to Information Technology”. The already mentioned course

“Business Communication” directly addresses interpersonal communication skills and busi-

ness communication skills. Furthermore, the course “Communication in English” is designed



to improve the students’ communication skills in English. According to EMU, students also

improve their communication skills by presenting their papers or projects. Plus, in many

courses, students work on group projects that help them to effectively work in teams, experi-

ence team dynamics and practise conflict resolution skills.

Appraisal:

The curriculum as well as the module descriptions show that generic skills are provided and

are consistent with the programme’s objectives. These skills include ethical aspects as well

as managerial skills sufficiently. Also, the development of communication skills and public

speaking skills as well as team work and conflict resolution skills are ensured through cours-

es like “Business Communication” and through team projects and presentations.





not relevant

3. PROGRAMME DESIGN

3.4 Additional Acquisition of Knowledge and Skills

3.4.1* Acquisition of application and / or re-search-oriented skills (only for Master programmes)

x

3.4.2* Generic Skills x

3.4.3* Communication skills and public speaking skills / team-work and conflict handling

x

3.5 Teaching Methodology

According to its own statement, EMU places great emphasis on teaching effectiveness. It

encourages the faculty members to use interactive teaching methods such as projects, case

studies, exercises, and group work or class discussions. The specific teaching method to use

in a course depends on the subject matter. FBE promotes the philosophy that students must

become active learners and that learning is more effective when students actively participate

in the course rather than are passively listening to lecturers. EMU avoids the use of large

lecture halls, but places students in classes that typically have an enrollment of less than 40.

Furthermore, teaching can take place in different venues such as computer laboratory or can

be conducted in a tutorial oriented session. Also, the FBE Moodle system allows instructors

to establish links to websites on issues that have a direct relevance to the topics covered in

class.

Most instructors use international editions of American textbooks. These textbooks and other

accompanying materials are available in the University Bookstore on campus. Many instruc-

tors also use case studies, journals, newspapers or magazine articles. These materials are

either distributed to students or made available through the course website or on the Moodle

Course Management System. Every course has a mandatory textbook that is usually sup-

plemented with online support. Some lecturers also prepare lecture notes, handouts and

study material to further support the learning process.



The FBE encourages instructors to invite guest lecturers to their class. The faculty and stu-

dent clubs also invite managers and leaders from businesses, public institutions and non-

governmental organizations.

Student assistants are employed and allocated in the programme. They are full-time or part-

time research assistants (doctoral or (post) graduate students), who, among other things,

give courses, carry out tutorials, help to prepare lessons, assess homework or provide help

regarding student registration. There also are Computer Lab Assistants, who provide help to

IT staff, and Student Assistants who provide administrative support.

Appraisal:

The teaching and learning methodology with its focus on interactive teaching methods is de-

scribed and explained in a logical and transparent manner and is consistent with the pro-

gramme’s objective which, amongst others, states to be strong in teachings of theory and in

developing analytical skills, that are both needed for independent research and a successful

career. However, the panel recommends to write down a formalized teaching methodology to

fully ensure its further development. The discussions on-site with students and lecturers

show that EMU puts great emphasis on an active learning environment, although the teach-

ing often seems to be quite teacher-centered. Overall, a valuable approach in terms of teach-

ing and learning methodology is clearly visible and a proper range of methods is used in the

courses such as case studies or class discussions. The accompanying course materials that

could be inspected on-site mostly consist of textbooks, but are easily available online via

Moodle. They also are sufficient in terms of quantity and quality. Moreover, the panel had the

opportunity to get access to the Moodle Course Management System that is very user-

friendly. According to the panel, the materials could focus more on learning outcomes. By

revising the learning outcomes in the course descriptions as stated in chapter 3.1, the panel

assumes the materials to be improved in the future. EMU includes guest lecturers with expe-

rience in businesses to teach on the programme, which clearly contributes to the students’

development of skills. There is no doubt that student assistants are part of the support strat-

egy for students and help them to develop skills in the described manner. The discussions

on-site with some research assistants additionally prove this assessment.





not relevant

3. PROGRAMME DESIGN


3.5.1* Logic and Transparency of Teaching and Learning Methodology x

3.5.2 Accompanying course materials x

3.5.3 Guest Lecturers x

3.5.4 Student Assistants involved in Teach-ing x



3.6 Skills for employement / Employability (Asterisk Criterion)

According to EMU, the Banking and Finance programme has a global focus and combines

theory with practice in an effort to increase students’ employability in both national and inter-

national job market. Therefore, the internationality of the programme as well as the intercul-

tural environment equip students to be employed by organisations both in public and private

sectors. After completion of the programme, students are equipped with financial and bank-

ing knowledge, the ability to work in financial and banking sectors, financially thinking and

analysing, computer skills and team work skills. Plus, the mandatory internship helps stu-

dents to improve their skills for employment.

EMU continues to monitor the professional and personal development of their students after

graduation by an exit survey. This survey conducts the education experience in the faculty.

EMU uses this data set to improve the learning environment at FBE. Business owners are

another source of information. In periodic meetings with business people, the performance of

the graduates is discussed and skills are identified in order to improve the student’s employ-

ability.

Appraisal:

Although the panel comes to the conclusion that the programme sufficiently combines theory

with practice (s. chapter 3.2) by providing an internship, has employability as an objective (s.

chapter 1.1) and indeed has an international and intercultural environment (s. chapter 3.3),

the reviewers are not convinced in terms of the overall skills for employment. Due to the fact

that the programme’s learning outcomes need revision regarding the description (s. condition

3) and the curriculum with its materials and examinations should be geared more towards

outcome orientation (s. chapter 3.2), the panel is not in a position to assess whether the en-

visaged learning outcomes are achieved and whether the student’s employability is sustain-

ably ensured. Plus, the FBE’s study programmes are quite similar and therefore lack an indi-

vidual profile. Moreover, EMU did not sufficiently analyze the positioning of the programme in

the job market (s. chapter 1.2). Theoretically, EMU’s self-assessment report and the discus-

sions on-site indicate that the programme aims to build the employability of its graduates, the

panel, however, wants to take the opportunity to ensure that the envisaged skills for em-

ployment certainly are ensured, particularly concerning the outcome orientation. According to

the panel, EMU needs to examine in which types of companies the students are expected to

work and which kind of positions they are expected to hold. Furthermore, some characteris-

tics of the expected employers should be described as well as the concrete tasks students

are expected to cope with. Regarding the learning outcomes, EMU needs to describe how

any learning objectives contribute to the study course objectives in order to demonstrate that

the curriculum is aligned to the skills objective and has a clear profile. Employability needs to

be recognizable as a central theme of the programme through all stages of the course. The

panel therefore recommends the accreditation on the condition that EMU must prove the

employability of its graduates by adapting the outcome orientation of the programme in the

described manner. A positive feature, however, is that EMU takes into account alumni exit

surveys and includes business owners to discuss the student’s employability.






3. PROGRAMME DESIGN

3.6* Skills for Employment / Employability condition



4. Academic Environment and framework conditions

4.1 Teaching staff

The programme employs both full-time and part-time academics. Moreover, FBE aims to

recruit and retain academically or professionally qualified faculty and intends to maintain a

balance between full-time and part-time faculty members. Thus, almost all teaching is under-

taken by full-time faculty that is expected to participate actively in the process of continuous

curriculum development. This is supplemented by a part-time faculty hired only for teaching

responsibilities and primarily used in multiple group courses under the academic coordination

of a full-time faculty member. The FBE also employs teaching assistants (s. chapter 3.5) to

run tutorials and mark related undergraduate work. These are usually postgraduate students

employed on short term contracts to support specified courses. The teaching assistants op-

erate under the supervision of academic staff members, but are excluded from the definition

of academic staff. Therefore, all examination scripts are marked by academic staff members.

In 2012/13 six full-time members (75 hours in sum), three part-time members (nine hours in

sum) and six research assistants were involved in the Banking and Finance programme. All

of the part-time and full-time faculty members hold a PhD degree. EMU does have a tenure

track with assistant professors, associate professors and full-time professors. The track is

based on collecting points for publications in international journals. EMU sees itself as teach-

ing institution, so most of the faculty members have had prior teaching experience in different

institutions. The effectiveness of instruction is assessed in an ongoing basis through a num-

ber of initiatives such as teaching evaluations for all courses that contain questions related to

both course and instructor performance. The professionals (as part-time faculty members)

bring their experience to the classroom and provide students with a holistic view of banking

and finance and the business world. Most of the core faculty members also have experience

in their fields and maintain their relationship with their practical fields through research pro-

jects. The faculty members share their practical experience in the classroom to improve the

teaching effectiveness.

Internal cooperation is institutionalized through departmental councils, instructor meetings,

joint committee work and multi-group coordination. In terms of provision of student support

and coaching by teaching staff, EMU claims to recognize the fact that the first step in ensur-

ing academic progress is appropriate course advice. Student advice is provided by faculty

members, department chairs, programme directors and staff. Every student is assigned a

faculty advisor who helps students with their programme of study. New students meet their

advisor in the orientation week. This advisor-student relationship continues through all four

years of the programme. Further advice is offered on an individual basis by the Registrar’s

office staff, programme directors, course coordinators and other relevant staff. Faculty mem-

bers maintain regular office hours and an open door policy with students. All faculty members

are available to receive students in their offices and help them with course materials and

assignments. Students are encouraged to meet their advisors regularly to review their aca-

demic performance and progress, to discuss problems and/or to receive scholarly and career

advice. Faculty members also are encouraged to give prompt feedback to e-mails sent by

students. According to EMU, measures for the personal development of the teaching staff

are available in terms of funding seminars or regarding support for research.

Appraisal:

Although the CVs inspected have been elaborated inconsistently, they indeed showed that

the structure and number of teaching staff are in line with the programme requirements. The

panel therefore recommends EMU to elaborate the lecturer’s CVs in a more consistent way.



The panel welcomes the balanced combination of full-time and part-time staff because it

guarantees that practical requirements are taken into account sufficiently. Paragraph 35 (5)

of Cyprus Law of Higher Education claims that 2/5 of the teaching staff need to be full-time

lecturers. With six full-time lecturers and three part-time lecturers (= 50% full-time lecturers)

EMU meets this national requirement. Moreover, the inspected table shows that the neces-

sary capacity is available for this programme. Through the tenure track and due to the fact

that teaching performance is explicitly considered in reappointment and promotion decisions,

the appointment procedures properly take account of the strategic and professional require-

ments mentioned above. Measures for personal development are available mostly by provid-

ing support for research. The CVs and the discussions with lecturers on-site demonstrated

that the teaching’s staff academic qualifications as well as pedagogical/teaching qualifica-

tions are in line with the requirements and objectives of the programme. Also, the practical

business experience of the teaching staff is in line with the requirements of the programme

for teaching. However, the panel comes to the conclusion that the respective practical busi-

ness experiences are quite diverse and heterogeneous and should be improved. Therefore,

the panel recommends EMU to strengthen the practical business experiences, for example

by offering sabbaticals. Measures for the personal development are sufficiently provided, for

example through funding seminars.

By regularly hosting departmental councils and meetings, instructor meetings, joint commit-

tee work and multi-group coordination, EMU properly ensures internal collaboration and co-

ordination to agree on the courses. Regarding the provision of student support, the panel

comes to the conclusion that support and coaching are n integral part of the services provid-

ed by the teaching staff and offered on a regular basis. Moreover, the advisors are available

outside the specified office hours as well. The on-site visit showed, that the students have no

serious complaints and are given above-average support with academic and related issues.





not relevant

4. ACADEMIC ENVIRONMENT AND FRAMEWORK CONDITIONS

4.1 Teaching Staff

4.1.1* Structure and Number of Teaching Staff in Relation to Curricular Re-quirements

x

4.1.2* Teaching Staff's Academic Qualifica-tions x

4.1.3* Teaching Staff's Pedagogical / Teach-ing Qualifications x

4.1.4 Practical Business Experience of the Teaching Staff x

4.1.5* Internal Cooperation x

4.1.6* Provision of Student Support / Coach-ing by Teaching Staff x

4.2 Programme Management

According, to EMU, the Banking and Finance Department Head is responsible for all study

programmes offered by the department. The Department Head has programme coordinators



for each programme. The administrative support for students and teaching staff consists of

the following units:

Academic Assistance

(EMU offers Moodle Discussion Groups run by instructors, access to academic staff

by e-mail or in person, access to tutoring and teaching assistance).

Academic Advising

(Every student is assigned a faculty advisor who helps students with their pro-

grammes of study. The students can also approach to other faculty members for fur-

ther advice).

Career Advising

(Faculty academic advisors provide career advice to the students who have been as-

signed to them. The FBE Career Development Office helps students to identify career

opportunities (s. chapter 4.5)).

Library Support

(FBE students use the main University Library. The service model is to maintain as

much journal and database content as possible online. Information specialists are

available to assist students and faculty in library research. These specialists also pro-

vide group instruction on the effective use of library resources).

Information Technology Support

(All of the courses offered by FBE are supplemented with Moodle Course Manage-

ment System. The system allows faculty members to provide course materials as well

as utilize online quizzes and discussion forums. According to EMU, the students use

the system with around 7.000 transactions per day).

The FBE’s advisory board consists of five members that include representatives from indus-

try, government and NGOs who have periodic meetings. It aims to further develop the pro-

grammes by sharing feedback. According to EMU, measures for the personal development

of the administrative staff is provided in terms of supporting research activities.

Appraisal:

Through discussions on-site with the programme management and administrative staff, the

panel comes to the conclusion that the Department Head as well as the programme coordi-

nator properly organize the activities of everyone involved and ensure that the programme

runs smoothly. Moreover, by offering Academic Assistance and Advising as well as Library

and Information Technology Support, EMU adequately demonstrates that the process organ-

ization, administrative support as well as responsibilities are determined transparently and

that sufficient staff is available in terms of both quantity and quality in order to implement the

processes in an appropriate manner. Measures for the personal development of the adminis-

trative staff is available in terms of research activities, but could be strengthened according to

the panel. The discussions on-site indicated that lecturers and students are involved in the

decision-making processes (such as curriculum improvement, s. chapter 5). An advisory

board has been installed in order to further develop the programme.







not relevant



4.2.1 Programme Directors x

4.2.2 Process Organisation and administra-tive Support for Students and Teaching Staff

x

4.2.3 Advisory Body (Advisory Board) and its Structure and Responsibilities x

4.3 Cooperation and partnerships

EMU cooperates with the following HEIs in terms of collaboration agreements, so students

have the possibility to stay one semester abroad:

North Dakota State University, USA; California State University, Long Beach; Central Con-

necticut State University, USA; Eastern Illinois University, USA; San Diego State University,

USA; University of Incarnate Word, USA; Mount Royal University, Canada; Upper Austria

Applied Sciences, Austria; Trier University of Applied Sciences, Germany; Poznan Universi-

ty, Poland; Salerno University, Italy; Tambov State Technical University, Russia; Ukraine

Academy of Banking, Ukraine; Kherson State University, Ukraine; International Ataturk

Alatoo University, Kyrgyztan; Zhejiang Gongshang University, China; Institute for Leadership

and Communications Studies, Morocco; Vancouver Island University, Canada; Kerman Med-

ical School, Iran; Masarykova Universita, Czech Republic; Academia Rerum Civilum, Czech

Republic; Architecural Institute in Prague, Czech Republic; German Sport University Co-

logne, Germany; Islamic University in Uganda, Uganda and The Institute of Finance Man-

agement, Tanzania.

Through its Career Centre, EMU keeps contact with enterprises and businesses by organis-

ing job fairs (s. chapter 4.5) or by involving guest lecturers (s. chapter 3.5).

Appraisal:

The scope and nature of both existing cooperation with other HEI and with enterprises and

other institutions are described and these cooperation are actively pursued. Due to the pos-

sibility of student exchange and by hosting job affairs, the panel has no doubt that these co-

operation promote the development of the student’s skills on a permanent basis.







not relevant


4.3 Cooperation and Partnerships

4.3.1* Cooperation with HEIs and other aca-demic institutions or networks (Aster-isk-Criterion for cooperation pro-grammes)

x

4.3.2* Cooperation with enterprises and other organisation (Asterisk-Criterion for educational and vocational pro-grammes, franchise programmes)

x

4.4 Facilities

All lectures take place in the Faculty buildings. The facilities consist of two main buildings

containing an overall amount of 20 classrooms, four computer labs and three large seminar

rooms. In addition, the Central Lecture Hall has lecture theatres and numerous smaller semi-

nar rooms available for FBE’s use. All classrooms are equipped with the full range of modern

audiovisual facilities. Wireless network access has been established at many points and co-

vers all of the FBE buildings and cafeterias.

The FBE students use the main University Library. Users can access all kinds of information

through the variety of materials available. With the purpose of meeting the user’s needs, the

library’s resources are supplemented by an Interlibrary Loan Service. The service model is to

maintain as much journal and database content as possible online, with high-demand books

and recent issues of journals kept physically on site. The collections can be accessed in per-

son or by using the online access. Information specialists are available to assist students and

faculty in library research. These specialists also provide group instruction on the effective

use of library resources. The library’s opening hours are Monday-Friday 09:00-22:30 and

Saturday-Sunday 10:00-20:00 and contain extended opening hours during midterm and final

exam periods.

The library houses a collection of more than 150.000 books, thousands of audiovisuals and

around 150 periodic subscriptions. Memberships in more than 50 Online Databases allow

access to full-text Journals, Reports, Abstracts, E-Books, Reviews, Indicators, Statistical Da-

ta, Working papers, Standards as well as bibliographical information resources via catalogue

search terminals. The Library has a sitting capacity of 900 seats. Additionally, there is a mul-

ti-purpose auditorium with 240 seats, an audio-visual room with a 60-seat capacity, and a

special exhibition hall to serve different needs ranging from art exhibitions to book shows.

The facilities can be reached by elevators without barrier.

Appraisal:

In terms of facilities, the panel positively emphasizes the modern equipment as well as the

audiovisual facilities to properly meet the student’s needs and requirements of the pro-

gramme. Furthermore, the buildings are equipped with elevators. Therefore, the study rooms

can be reached sufficiently barrier-free. The panel had the opportunity to visit the library in



the context of the site-visit, and comes to the conclusion that the library stocks reflect the

needs of the programme. Access to literature, journals and digital media through databases

is fully ensured and up to date. The library’s opening hours can be assessed ample. The

panel moreover appreciates the extended opening hours during midterm and final examina-

tion periods as they are aligned to the student’s needs. A further development plan can be

seen in terms of maintaining as much journal and database content as possible online. With

its 900 seats and the various study rooms for group work, a sufficient amount of library work-

stations is available. Like the equipment of all of EMU’s study rooms, the library’s work-

stations also meets the technical requirements. Due to the fact that qualified staff is available

to provide ad-hoc advice, the library workstations exceed the quality requirements. Via wire-

less network the students get access to the internet free of charge.





not relevant


4.4 Facilities

4.4.1* Quantity, Quality and Media and IT Facilities of Teaching Rooms x

4.4.2* Library Resources x

4.4.3 Number of Technical Equipment at Library Workstations for Students x

4.5 Additional Services

Faculty academic advisors provide career advice to the students who have been assigned to

them. Also, the FBE Career Development Office helps students to identify career opportuni-

ties and EMU’s central Career Center organizes job fairs on campus and assist students in

job search activities (including CV writing, improving interview skills). The Career Develop-

ment Office has an open door policy and also reaches out to the students using social net-

working sites and leaflets.

MIKA (Directorate of Alumni Communication and Career Centre) aims to create a network

among EMU graduates. It tries to raise awareness and understanding of the benefits univer-

sity provides to the society to maximize that benefit through the involvement, advocacy and

philanthropic support of alumni, other individuals and organizations. FBE also has its own

Facebook group aimed at communicating with its graduates.

In terms of individual counselling and welfare services for students, EMU provides free coun-

selling services conducted by professional psychotherapists/psychiatrists to all students, fac-

ulty members and staff. The Psychological Counselling Centre accepts appointments and

walk-in patients.

Appraisal:

With its Career Development Office and the respective activities such as job fairs, EMU

clearly shows that it provides sufficient resources regarding career advice and placement

service. The same applies to Alumni Activities that have been set up in order to create an

alumni network. Worthy of note is the individual counselling for students, which is an integral



part of EMU’s services. By providing both a Psychological Counselling Centre as well as in-

dividual support by the student’s advisors (s. chapter 4.1) the students get above-average

advice on all questions associated with daily life.





not relevant



4.5.1 Careers Advice and Placement Service x

4.5.2 Alumni Activities x

4.5.3 Individual Counselling and Welfare Services for students x

4.6 Financial planning and financing of programme (Asterisk Criterion)

EMU is a university that is funded by a mix of public education funding from country’s gov-

ernment, domestic and international student fees, contract research and grant income. EMU

has a centralized financial structure however, the accounting and budgeting system allows

analysis at the Faculty and Academic Department Levels. FBE’s operating budget is allocat-

ed by the university central administration. Many operational aspects of the Faculty’s busi-

ness are centralized and funded at the University level; hence these do not have to be fund-

ed by the retained operating budget of the FBE.

Much of the budget is expended on salaries for the approximate 13 general staff and 38 aca-

demic staff of the Faculty. Support for new initiatives comes from a number of sources. The

University maintains a capital budget for major infrastructure activities. The Faculty also tries

to secure funding from different sources for different initiatives, such as renovation of the

Faculty building. Furthermore, EMU provides budget plans.

Appraisal:

Regarding the financial planning, EMU provided the Faculty of Business and Economics’

budget for the years 2008-2012 and additionally, the proposed budget for 2013/14. Accord-

ing to the panel, these financial plans are logical and transparent and have a sufficient grade

of detail. Considering the inspected financial plans and due to the governmental funding and

the public supervision, the panel comes to the overall conclusion that the basic funding is in

place ensuring the financial stability for the current programme cycle and the entire accredi-

tation period, so that students will be able to complete their studies in any case.





not relevant


4.6* Financial Planning and Financing of Programme x



5 QUALITY ASSURANCE

Quality assurance and development of the university and collaboration between the universi-

ty administration and faculty/departments as well as the programme management in the pro-

gramme development are carried out under the principles of the “Regulations for Academic

Assessment and Quality Improvement at EMU”, according to the strategic plan of the univer-

sity 2012-2015 and “EMU Quality Assurance Handbook”. All the documents mentioned

above are available on the homepage of the HEI.

As stated in the mission of the university, the policy of EMU’s quality assurance system is to

enhance the quality of academic programmes, research and administrative activities. The

administrative structure of academic assessment and quality improvement system at EMU is

as follows:



The systems works in four phases:

Phase 1 - Policy Development: The development of quality policies in accordance

with strategic plans and objectives

Phase 2 - Implementation: The implementation of policies

Phase 3 - Evaluation: Evaluations (internal and external) are carried out to determine

whether progress made and directions taken are in accordance with the objectives

Phase 4 - Control: Evaluations and relevant outcomes are reviewed with the view to

improve educational and administrative activities and/or objectives.

For the purpose of quality assurance, the main quality control mechanisms utilised is curricu-

lum review. That includes inputs from all appropriate divisions like faculty staff, administra-

tors, students, faculty from non-business disciplines, alumni, and the business community

served by the school. The Banking and Finance programme has a Programme Coordinator

who closely monitors the programme’s needs. The Department Boards are in charge of pro-

posing curricular changes to the faculty board. Generally, each faculty member can bring

proposals to the Department Board agenda after consulting with the Programme Coordina-

tor. Each department also has curriculum committees and the Programme Coordinators work

closely with the curriculum committee in case of any changes to the curriculum. Department

Boards continuously monitor the curricula for the programmes they manage. They seek

feedback from students, alumni and employers.

EMU Council for Quality Coordina-tion and Evaluation

(University Executive Council)

Academic Units Evaluation and Quality Improvement Commission

(formed by UEC))

Administrative Units Evaluation and Quality Improvement Commission

(formed by UEC))

Representative of Rector’s Office

Representative of Faculties and Schools

Quality Teams of Faculties and Schools

Representative of the Academic Union

Student Representative

Representatives of NGOs

Representative of Rector’s Office

Representative of Directorates

Representative of the Quality Improvement

Office

Representative of the Administrative Union

Student Representative

Representatives of NGOs



In order to ensure quality in development of programme content, processes and outcomes, a

standing Assurance of Learning Committee including representatives from all departments

has been established in 2006. The Assurance of Learning Committee works with the De-

partment Boards to clarify the learning goals and make sure that they are assessable, to

align the curriculum with the goals, to set the acceptable standards, to choose methods, to

gather data, to evaluate, report and share data, and to propose actions for improvement. The

Committee considers how direct measures (such as course embedded measures) and how

indirect measures (such as surveys of students, alumni and employers) can be used.

Regarding the instruments of quality assurance, one of the primary mechanisms used for

monitoring and controlling the quality of instruction at FBE is the systematic evaluation of

courses by students. The evaluation is carried out for each course at the end of semesters

and contains questions on the workload, the instructor’s performance, the course materials

and examinations. The evaluation is done online, which ensures anonymity and confidentiali-

ty. The printed results are provided to the instructors after they have submitted the course

grades. The end-of-semester evaluations serve as valuable feedback to instructors in order

to help improving the teaching effectiveness. According to EMU, evaluations by instructors

are carried out, too. At the end of semesters, the instructors fill out a survey about the course

they teach and the services provided to them. These questionnaires serve as useful tool to

identify and solve any problems or concerns. Moreover, EMU conducts an online survey to

solicit alumni evaluation. This alumni evaluation provides valuable feedback about missing

topics and what can be done to improve the programme. The Programme Coordinator as

well as the Banking and Finance Department Head have close relationships with the busi-

ness community. The network that instructors have enables EMU to get informal feedback

about the skills required to be successful in the banking and finance field and the skills that

the students may be lacking. The feedback provided by employers is useful in identifying

course needs and taking appropriate steps to align the programme with the requirements of

the job market. Evaluation by third parties is conducted in terms of the Bloomberg Aptitude

Test that EMU’s students started taking in spring 2013. The Bloomberg Institute will provide

report on the student’s performance in the test, which will enable EMU to benchmark the

programme against other programmes on an international level. It will also provide opportuni-

ty to incorporate input from a third party into the quality assurance efforts.

A programme description for the Banking and Finance programme is provided in the EMU

Catalogue, which provides information on the curriculum of the programme, admission re-

quirements, fees, examinations and scholarships. In addition to the programme specific in-

formation, general information about campus life (e.g. student activities, dormitories, campus

services) and information about Famagusta also are provided in the catalogue. Plus, all this

information is available on the university’s web page and on the Faculty website, too. Univer-

sity rules and regulations are available both in print an on EMU web page. Moodle Course

Management System is used to provide specific information about each course offered in the

programme, such as course materials.

Each department reports its activities informally to the Dean’s Office during regular Faculty

Executive Council meetings. The standing Quality Assurance Committee is currently working

on a process that will facilitate formal annual reporting activities of the departments. The fi-

nalised process proposal is planned to be presented to the Faculty Council in near future.

Appraisal:

EMU’s system of quality assurance is designed comprehensively and used systematically in

order to monitor the programme’s content. By clarifying learning goals, setting standards and

proposing actions for improvement as well as direct and indirect measures, EMU demon-



strates that it has formulated quality targets for the development of the programme and regu-

larly assesses the implementation through evaluations. The panel was impressed by the

close cooperation between the Programme Coordinator, the Curriculum Committee and the

Department Board as it shows the sophistication of the quality assurance. Due to the fact

that each faculty member can bring proposals to the Department Board, EMU convincingly

ensures that both teaching staff and students are involved to plan and assess the develop-

ment procedures. Overall, the described system of quality assurance and programme devel-

opment properly helps achieving continuous quality improvement.

EMU provided a study course evaluation form that confirms that evaluations by students are

carried out appropriately as well as on a regular basis at the end of semesters and in ac-

cordance with the above described procedure. However, discussions on-site indicated that

the outcomes are not systematically communicated to the students. The same applies to

quality assurance by teaching staff, which also is conducted at the end of semesters. In order

to improve transparency, the panel recommends EMU to systematically communicate the

outcome of the respective evaluations to both students and lecturers, for example via elec-

tronic feedback. Through networks and connections to businesses as well as alumni evalua-

tions, EMU gets informal feedback on the student’s required skills. The panel recommends to

conduct alumni evaluations programme specific in order to get more detailed results. Fur-

thermore, the Bloomberg Aptitude Test sufficiently provides input for the quality enhance-

ment process. Overall, external evaluation is conducted appropriately.

Via EMU’s catalogue, website, and the Moodle Course Management System, the require-

ments concerning the programme’s content, structures, admission and examination are doc-

umented and published in detail. Due to the fact that all information is available online as well

as in print and is being constantly updated via Moodle Course Management System, the

panel comes to the conclusion that EMU ensures an above-average level of transparency in

terms of the Banking and Finance programme, despite the already criticized lack of transpar-

ency regarding the admission requirements (s. chapter 2.1). The activities which take place

during the academic year are informally reported. The panel appreciates EMU’s plans to ini-

tiate formal annual reporting activities and is positive about its forthcoming introduction that

will be considered in the context of the reaccreditation. As stated in chapter 4.1, subject-

specific and generic advice is sufficiently provided to students whose questions are not an-

swered by programme documentation.



Quality Ratings

Exceptional Exceeds




not relevant

5. QUALITY ASSURANCE

5.1* Quality Assurance and Development of the HEI and collaboration between the HEI management and Facul-ty/Departments as well as programme management in the programme devel-opment

x

5.2* Quality Assurance and Development of Programme Content, Processes and Outcomes

x

5.3 Instruments for Quality Assurance

5.3.1* Evaluation by Students x

5.3.2 Quality Assurance by Teaching Staff x

5.3.3 External Evaluation by Alumni, Em-ployers and third Parties

x

5.4 Programme Documentation

5.4.1 Programme Description x

5.4.2 Documentation of Acitivities during Academic Year

x


Quality Profile

Institution: Eastern Mediterranean University (EMU)

Bachelor programme: Banking and Finance (B.S.)


requirements Meets quality requirements




1.1* Logic and Transparency of Programme Objectives x

1.2 Positioning of Programme

1.2.1 Positioning of the Programme on Educa-tion Market x

1.2.2 Positioning of the Programme on Job Market (Employability of Graduates) x

1.2.3 Positioning within HEI's overall Strategy x

1.3* International Dimension of the Pro-gramme x

1.4 Gender equality and equality of oppor-tunity x

2. ADMISSION (REQUIREMENTS AND PROCEDURE)

2.1* Admission Requirements x

2.2 Selection Procedure (if available) x

2.3 Professional Experience (* for Master Programmes of the "further Education" Type)

x

2.4* Ensuring Foreign Language Compe-tence x

2.5* Transparency of Admission Procedure x

2.6* Transparency of Admission Decision condition






3. PROGRAMME DESIGN

3.1 Structure

3.1.1 Structure of the Programme (Core Sub-jects / or Specialisations (Compulsory Electives) / optional Electives/ practical Components)

x

3.1.2* Application of the "European Credit Transfer and Accumulation System (ECTS)" and the Mocularisation

condition

3.1.3* Study and Examination Regulations condition

3.1.4* Student workload condition

3.2 Content

3.2.1* Logic and conceptual Coherence of Programme / Curriculum x

3.2.2* Rationale for the Qualification Title x

3.2.3* Reasons given for programme descrip-tion x

3.2.4* Integration of Theory and Practice x

3.2.5 Interdisciplinarity x

3.2.6* Methodological Competence and Aca-demic Work condition

3.2.7* Performance in Examinations and The-sis

x


3.3.1* International and intercultural aspects x

3.3.2 Internationality of Student Community x

3.3.3 Internationality of Teaching Community x

3.3.4 Foreign language content x

3.4 Additional Acquisition of Knowledge and Skills

3.4.1* Acquisition of application and / or re-search-oriented skills (only for Master programmes)

x

3.4.2* Generic Skills x

3.4.3* Communication skills and public speak-ing skills / team-work and conflict han-dling

x







3.5.1* Logic and Transparency of Teaching and Learning Methodology x

3.5.2 Accompanying course materials x

3.5.3 Guest Lecturers x

3.5.4 Student Assistants involved in Teaching x

3.6* Skills for Employment / Employability condition


4.1 Teaching Staff

4.1.1* Structure and Number of Teaching Staff in Relation to Curricular Requirements x

4.1.2* Teaching Staff's Academic Qualifications x

4.1.3* Teaching Staff's Pedagogical / Teaching Qualifications x

4.1.4 Practical Business Experience of the Teaching Staff x

4.1.5* Internal Cooperation x

4.1.6* Provision of Student Support / Coaching by Teaching Staff x


4.2.1 Programme Directors x

4.2.2 Process Organisation and administrative Support for Students and Teaching Staff

x

4.2.3 Advisory Body (Advisory Board) and its Structure and Responsibilities x

4.3 Cooperation and Partnerships

4.3.1* Cooperation with HEIs and other aca-demic institutions or networks (Asterisk-Criterion for cooperation programmes)

x

4.3.2* Cooperation with enterprises and other organisation (Asterisk-Criterion for edu-cational and vocational programmes, franchise programmes)

x






4.4 Facilities

4.4.1* Quantity, Quality and Media and IT Facil-ities of Teaching Rooms x

4.4.2* Library Resources x

4.4.3 Number of Technical Equipment at Li-brary Workstations for Students x


4.5.1 Careers Advice and Placement Service x

4.5.2 Alumni Activities x

4.5.3 Individual Counselling and Welfare Ser-vices for students x

4.6* Financial Planning and Financing of Pro-gramme x

5. QUALITY ASSURANCE

5.1* Quality Assurance and Development of the HEI and collaboration between the HEI management and Facul-ty/Departments as well as programme management in the programme devel-opment

x

5.2* Quality Assurance and Development of Programme Content, Processes and Outcomes

x

5.3 Instruments for Quality Assurance

5.3.1* Evaluation by Students x

5.3.2 Quality Assurance by Teaching Staff x

5.3.3 External Evaluation by Alumni, Employ-ers and third Parties x

5.4 Programme Documentation

5.4.1 Programme Description x

5.4.2 Documentation of Activities during Aca-demic Year x

Documents

Beschluss der FIBAA- Akkreditierungskommission für Programme