Development contract for CBS,

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1 The Danish Agency for Universities and Internationalisation Development contract for CBS, June 2012 CSA Preamble According to the Danish University Act, CBS is obligated to make a development contract with the Danish Minister for Science, Innovation and Higher Education. The development contract includes objectives laid down by the minister. The objectives reflect the government's priorities and ambitions for the university sector (mandatory objectives). In addition, the development contract covers objectives laid down by CBS itself, which reflect the strategic prioritisations and identity of the institution (voluntary objectives). Both benchmarks and voluntary objectives have been determined after internal discussions in the relevant bodies (primarily the Academic Council, the General Consultation Committee and the Board of Directors). Camilla Schreiner Andersen CBS' strategic direction in the years to come has been determined in CBS' long-term strategy and more short-term investment plan. CBS finds that there is a significant identity between the university's strategic direction and the mandatory objectives laid down by the minister. CBS' Business in Society strategy acknowledges that companies and organisations take part in shaping society, and that society takes part in shaping the approaches and processes of companies and organisations. Our largest contribution is research-based education and the ability to innovate processes and business opportunities that our graduates are able to offer to society through new research-based knowledge. This is why investment in research and high academic standards are crucial to our future development and the quality of our programmes and graduates. It is important to our Business in Society strategy that research and education creates a positive impact through our students, our research and our dissemination activities. The unique diversity of our programme and research portfolio means that we are an internationally recognised business school with a large international partner network. From our point of view, internationalisation means that we compare ourselves with the most prominent business schools, attract the most competent employees, offer our students international opportunities and competences and that we work across national and cultural borders.

2 CBS' equity creates opportunities for short-term, extraordinary strategic investments in a situation that presents uncertainty of the long-term funding situation. CBS has thus prepared an investment plan up to 2015, which to a large extent is financed by the available part of the equity, however, which on the contrary cannot be maintained if the public funding for CBS decreases in the long term. The aim of the investment plan is to support CBS' strategy and facilitate the expected increase in the student population through investments in the recruitment of more academic staff, a larger campus and an improved IT infrastructure. The points above form the strategic background for the choice of objectives and benchmarks in CBS' development contract Read CBS' strategy on our website: Our investment plan can be found here: l.pdf Signatures Frederiksberg, Copenhagen, Chairman of the Board of Directors, CBS Minister for Science, Innovation and Higher Education Peter Schütze Morten Østergaard 2

3 1. Mandatory objective: Programme quality Programme quality is a major priority at CBS in the next years, and CBS has chosen 3 benchmarks for the quality of the programme. Benchmarks: 1.1: Employment 4-19 months after graduation CBS wishes to improve the employment prospects for master's graduates 1.2: Student satisfaction CBS wishes to increase student satisfaction 1.3: Academic/part-time academic staff ratio CBS wants an increase in the academic staff/part-time academic staff ratio 1.1: Employment 4-19 months after graduation Programme quality is reflected in graduates being able to secure employment quickly and start contributing to society. In the years to come, CBS will focus its efforts on securing that master's students with a degree from CBS are employed within relevant industries. However, employment depends on the general economic fluctuations, and it is our wish that the objectives allow for this fact. Therefore, the level of aspiration is determined on the basis of the general market for graduates with similar degrees. The concrete objectives are thus laid down on the basis of the national average for graduates with a humanist or a social science degree. The concrete milestones for the contract period are thus as follows: Employment rate in relation to the national average Master's programmes, humanities - 4 per - 2 per 0 per 0 per Master's programmes, social science - 1 per 0 per + 1 per + 2 per Note: The employment rate is based on the most re figures, cf. the statement of the Danish Agency for Universities and Internationalisation (UI), i.e. is the employment rate for Comments: The employment rate is based on the key figures of UI - "Employment of re graduates". The statement includes the categories: PhD programmes, Employment and abroad. 3

4 In, CBS was below the national average for master's programmes within the humanities and social science. We expect that in the next years, CBS is able to improve this situation so that the employment rate is higher than the national average for social science and on par with the national average for the humanities in The employment rate is in this statement defined very broadly and includes graduates who are taking a PhD or are outside the country. 1.2: Student satisfaction CBS wishes to offer teaching and education that meet the students' expectations in order to ensure the best possible quality in the programmes. During the contract period, CBS will improve overall student satisfaction in the daytime programmes (bachelor and master's). In order to monitor the development in student satisfaction, CBS has developed a new method to monitor satisfaction in several dimensions. It is expected that the implementation of this method will place an extraordinary focus on student satisfaction in the individual programme and thereby facilitate a change of culture in relation to the follow-up on the programme quality. In this development contract CBS has chosen to break down student satisfaction into the following dimensions: Overall satisfaction Academic fulfilment Teaching satisfaction Satisfaction with the administration Satisfaction with the campus environment Satisfaction is measured on a scale from 1 to 5. 1 is very dissatisfied and 5 is very satisfied. The overall satisfaction per programme is calculated as a simple average of these 5 dimensions. In, CBS offered 51 bachelor and master's programmes. Among these, 26 programmes or 51 per show a student satisfaction of 3.8 or more. During the contract period, CBS wishes to increase this level to 70 per, which corresponds to 10 extra programmes showing a student satisfaction of 3.8 or more. The concrete milestones for the contract period are thus as follows: Share of all programmes showing a satisfaction of 3.8 or more 51 per 55 per 61 per 70 per Number of programmes showing a satisfaction of 3.8 or more

5 Comments: This calculation is made by CBS' evaluation unit on the basis of a method developed by the unit itself. Once a year, the students are asked about their satisfaction within the 5 dimensions. A simple average is calculated for each programme. If this average is 3.8 or more, the programme is included in the above statement. CBS expects to launch more programmes during the period of , however, the number of new programmes have not been determined yet. As a consequence hereof the new programmes will not be included in this calculation. Naturally, CBS will strive for a high degree of student satisfaction in the new programmes. 1.3: Academic/part-time academic staff ratio As a consequence of the practice-oriented nature of CBS' programmes, the share of parttime academic staff at CBS is larger in comparison with the programmes within the humanities and social science. Apart from the positive aspects of part-time academic staff, CBS recognises the significance of students obtaining a good contact to the academic staff and thus their research to ensure the best possible teaching quality. On this basis, CBS aims to increase the number of academic staff members in proportion to part-time academic staff members, causing an increase in the academic/part-time academic staff ratio. CBS has launched a major initiative to recruit academic staff and has allocated a significant amount of money for the purpose in the existing investment plan, cf. the preamble. CBS expects, however, an increase in the number of students, both in the bachelor and master's programmes. And if CBS has to be able to ensure the students a reasonable number of lessons, the amount of full-time equivalents used for part-time academic staff must be increased. CBS possibility of recruiting academic staff basically depends on research funds. Academic staff is under the obligation to conduct research. As CBS' research funds per student full-time equivalent (STÅ) are significantly lower than in other Danish universities, there are limits to how many academic staff members CBS can appoint. It is the ambition, however, that the increase in the number of academic full-time equivalents used for teaching will be larger than the increase in the full-time equivalents for part-time staff. CBS thus aims to increase this ratio in the next years with an overall improvement of 10 perage point in 2014 compared to the ratio of. The concrete milestones for the contract period: Academic/part-time academic staff ratio Comments: This calculation is based on CBS' own records of lecturer activities in the bachelor and master's programmes. Data is extracted from Prophix and SLS (payroll 5

6 system). The calculation solely includes the hours attributable to the individual programmes. This measurement will only be carried out for the full-time programmes (bachelor and master's), and only the activities appertaining to the individual programmes will be included. The number is not comparable with the ratio that appears when using the key figures from Universities Denmark, in which all activities distributed on educational purpose are included. The academic/part-time academic staff ratio that is calculated on the basis of key figures from Universities Denmark is usually higher. This is owing to the fact that the majority of the educational activities, which is not attributable to the individual programmes, are handled by academic staff. 2. Mandatory objective: Better coherence in the educational system CBS wishes to contribute to a better coherence in the educational system by placing focus on the following benchmarks: Benchmarks: 2.1: Enrolment of master's students from another university The share of students in CBS' master's programmes holding a bachelor or professional bachelor degree from another university must be invariable 2.2: Credit transfer CBS students must have the possibility of taking parts of their education in other institutions, and it must be possible for students coming from other institutions to transfer the credits from relevant courses to CBS. 2.3: Professional bachelor degrees CBS wants to enhance the possibility of students holding a professional bachelor degree improving their qualifications at CBS 2.1: Enrolment of master's students from another university It is essential in a coherent educational system that the students are able to flexibly change their perspective or direction from bachelor to master's. Through the past years, CBS has been focusing on creating a broad portfolio of master's programmes of which a significant part are taught in English. The strategy has enabled students with a bachelor degree or professional bachelor degree from another Danish or foreign institution to take a master's degree within the discipline of economics and business administration. CBS thereby contributes to a more flexible educational system that is perfectly in accordance with the ambitions of the Bologna declaration. 6

7 In the future, CBS wishes to maintain this focus and during the contract period work hard to ensure that the share of students in the master's programmes with a bachelor or professional bachelor degree from another university remains constant - also in a situation where the overall student population is growing. The concrete milestones for the contract period are thus as follows: Share of the total master's enrolment 41 per 41 per 41 per 41 per Comments: This calculation shows the number of graduates who has been enrolled on the basis of a degree taken at another university at CBS, and who has accepted a study place in a master's programme, cf. CBS' Admission system. This calculation includes both Danish and foreign students. In, CBS enrolled 1,221 master's students with a bachelor degree from another university, which corresponds to 41 per of the total enrolment. The 41 per is distributed on 23 per from foreign universities and 18 per from other Danish educational institutions. Of the 23 per, the three most important countries are Norway (12.5 per ), Germany (5.7 per ) and Sweden (4.8 per ). 2.2: Credit transfer CBS wants to help create a flexible educational system and provide our own students with a proper framework to take parts of their education at another institution. Furthermore, CBS would like to grant students from other educational institutions the possibility of receiving a credit transfer for relevant courses. Standard credit transfers and customised programmes for students with an Academy Profession (AP) degree (e.g. the AP degree in Marketing Management/Service Management may help obtain this. CBS wants to measure credit transfer by looking at how may full-time equivalents CBS students earn through credit transfers. We want an increase in the number of such fulltime equivalents and we want the increase to be larger than the increase in the number of resource-generating full-time equivalents. From 2010 to, CBS experienced an increase of 6.3 per in the number of fulltime equivalents earned through credit transfers. The increase of all the full-time equivalents was 5.6 per. On this basis, the specific milestones for the contract period are as follows: 7

8 Number of FTEs earned through credit transfers Annual increase 6.3 per 7.0 per 8.0 per 8.0 per Comment: An FTE earned through credit transfers are calculated as being earned by the programmes, however, they do not generate any funding. In the next years, CBS expects to increase the number of resource-generating full-time equivalents by 3-4 per per year. The increase in the full-time equivalents earned through credit transfers is thus expected to be above the increase in resource-generating full-time equivalents. 2.3: Professional bachelor degrees Very few people are holding a professional bachelor degree within social science. Therefore, CBS primarily aims to provide tertiary management or business education for professional bachelor students from other areas (school teachers, kindergarten teachers, nurses etc.). In order to ensure access for professional bachelor students, CBS will make an effort to enrol professional bachelor students in 5 per of the study places in the Danish executive master and diploma programmes. CBS will also prepare at least one proposal for a new executive master programme granting access to professional bachelor students. The current deadlines for accreditation, however, entails that this programme is offered in 2014 at the earliest. On this basis, the specific benchmarks for the contract period are as follows: CBS will make an effort to enrol professional bachelor students in 5 per of the study places in the Danish-taught executive master programmes in 2013 and CBS also wants to make an effort to enrol professional bachelor students in 5 per of the study places in the graduate diploma programme (HD part 2) in 2013 and these students will thus be able to be enrolled directly in the graduate diploma programme. During the contract period, CBS will prepare at least one proposal for a new executive master programme granting access to professional bachelor students. Share of study places in the Danish-taught programmes granting access to professional bachelor students Share of study places in the graduate diploma programme granting access to professional bachelor students Number of proposals for executive master programmes granting access to professional per 5 per per 5 per

9 bachelor students. 3. Mandatory objective: Faster completion In the past years, CBS has experienced a significant improvement of the completion rate for the majority of the programmes - the bachelor programmes in particular. This improvement is an expression of a general development in young peoples' attitude towards education, but a stronger focus on the quality and organisation of the programmes as well of an on-going supervision of the students have also made an impact. During the contact period, CBS wants to maintain this positive development and thus make an effort to ensure that even more students complete their education faster. In our opinion, it will be difficult for the social science bachelor programmes to increase the completion rate, as it is already 70 per. However, it is possible to increase the completion rate for both the BA and MA programmes. CBS wishes to monitor the students' completion within the prescribed period of study + 1 year. Benchmarks: 3.1: Completion within the prescribed period of study + 1 year. CBS students must complete their education faster Compared to the other Danish universities, CBS programmes have an overall high completion rate. CBS aims to continue the very positive development of the completion rate, and the specific milestones for the contract period are thus as follows: Completion rate within the prescribed period of study + 1 year: Bachelor, humanities 57 per 58 per 60 per 65 per Bachelor, social science 70 per 70 per 70 per 70 per Master's, humanities 51 per 53 per 55 per 57 per Master's, social science 61 per 63 per 65 per 67 per Comments: This calculation corresponds to the statistical tools of Universities Denmark. 9

10 The realisation of these improvements implies that the completion rate for every single area is improved by: Bachelor, humanities 0.2 months (pps+1) Bachelor, social science 0 months (pps+1) Master's, humanities (pps) 1.6 months Master's, social science 1.6 months (pps) Source: Calculations from the Danish Agency for Universities and Internationalisation. CBS is thus close to having reduced the overall average period of study by 1.6 months. 4. Mandatory objective: Increased innovation capacity In the past years, innovation and entrepreneurship have played ral roles in CBS' strategy, the organisation of the programmes and in connection with other student activities. CBS most re strategy, is also placing a strong focus on innovation and entrepreneurship, cf. the preamble. It is thus CB*s responsibility to present new ideas to companies and organisations, future leaders and society in general. CBS wants to measure increased innovation by placing focus on two benchmarks: Benchmarks: 4.1: Number of CBS graduates employed in private companies with employees CBS wants to increase the number of graduates (bachelor and master's), who become employed in this type of company. 4.2: Full-time equivalents generated through courses offered within entrepreneurship/innovation CBS wants to increase the number of full-time equivalents generated through courses within entrepreneurship/innovation 4.1: Number of CBS graduates employed in private companies with employees Studies show that innovation especially is created when an academic is employed by a small or medium-sized private company. CBS wishes to contribute to this kind of innovation and will thus in the next years strengthen the relationship with this category to make sure that as many CBS graduates as possible are employed here. 10

11 During the contract period, CBS wants to make an effort to increase the number of graduates from CBS who become employed in a private company with employees. Number of CBS graduates employed in private companies with employees 1,308 A new measurement is made An average of and an increase of 5 per. An increase of 5 per compared to 2013 Comment: The calculation is based on information from Statistics Denmark (DST) and made in cooperation with CBS. The calculation includes graduates from the years 2008, 2009 and It shows how many graduates who were employed by private companies with employees in the 3rd quarter of. The calculation includes graduates from both the bachelor and master's programmes. The measurement is made on the basis of data from Statistics Denmark. CBS has not made similar calculations before, for which reason does not show anything about the historic development and annual increase. 4.2: Full-time equivalents generated through courses offered within entrepreneurship/innovation It is our aim that as many CBS students as possible learn of innovation and entrepreneurship during their studies. It is therefore important that an adequate number of courses within these fields are offered, and that the students register for them and complete them. CBS wants to increase the number of full-time equivalents generated through courses within entrepreneurship/innovation and incorporate them in several of CBS' programmes. In, CBS generated 1.8 per of all resource-generating full-time equivalents through innovation and entrepreneurship courses. We want this share to increase by 10 per annually, thus generating 2.4 per of all resource-generating full-time equivalents through courses within innovation and entrepreneurship. The concrete milestones for the contract period: The share of full-time equivalents generated through courses within innovation and entrepreneurship should increase by the following: 1.8 % 2.0 % 2.2 % Comments: The calculation is based on a list of offered courses within innovation and entrepreneurship made by Young Enterprise Denmark. Full-time equivalents are extracted from CBS' programme administrative system, SPARC. 2.4 % 11

12 5. Voluntary objectives: Internationalisation Internationalisation has been a significant strategic element at CBS in the past decades and it is still as important in the latest strategy, cf. the preamble. CBS believes that it is crucial to focus on internalisation and secure the position as one of the best business schools in the world. Only by being an international business school will CBS be able to deliver high quality to the Danish society. Internationalisation means benchmarking with the highest standards within business and humanities and thereby ensuring the quality of both education and research at CBS. CBS has chosen to measure the degree of internationalisation by two benchmarks: Benchmarks: 5.1: Exchange students inbound/outbound CBS wants to increase the number of outbound exchange students in parallel with ensuring balance between in- and outbound exchange students. 5.2: Programmes offered in partnership with other educational institutions CBS aims to increase the number of programmes offered in collaboration with other institutions. 5.1: Exchange students inbound/outbound Having a high number of exchange students, both inbound and outbound, shows that CBS is an attractive business school and that campus life has an international element both in terms of foreign students taking courses at CBS, but also in terms of our own students gaining new impressions during a period of study abroad. Compared with the rest of the sector, CBS has been very successful in ensuring an increase in the number of students who choose to go abroad. During the contract period, CBS would like to maintain this positive development, the high level of the number of students, both inbound and outbound, but at the same time focus on a proper balance between inbound and outbound exchange students. The concrete milestones for the years are thus as follows: Exchange students inbound/outbound 0.89 Max. 1.0 Max. 1.0 Max. 1.0 Exchange students, outbound 1,288 Approx. Approx. Approx. 12

13 1,300 1,350 1,400 Comments: The calculation is based on resource-generating exchange students, both inbound and outbound, cf the statistical tools of Universities Denmark. In, CBS had 1,148 inbound and 1,288 outbound resource-generating exchange students corresponding to a ratio of It is the ambition of CBS to maintain a marginal increase in the number of in- and outbound exchange students, but we also wish to maintain the balance on a maximum of : Programmes offered in partnership with other educational institutions The intensified partnership with foreign educational institutions demonstrates that CBS makes knowledge available to other institutions and strengthens the competences of and opportunities for the students as well as CBS' international liaisons. It takes time to build international relations that lead to specific collaborations on provision of programmes. It is the wish of CBS, however, that one additional programme-specific collaboration with a foreign institution is established per year during the contract period. This is a total increase of 25 per. The concrete milestones for the contract period are thus as follows: Number of programmes offered in partnership with other institutions Comment: The programmes will be included when a signed agreement between CBS and the partner institution is presented. 6. Voluntary objectives: More research and research quality The majority of the objectives of the development contract is based on the degree programmes and areas closely affiliated with the programmes. It is, however, crucial,to the quality of the programmes that our research is excellent, both measured in relation to quality and extent. This is also a ral element in CBS' strategy, cf. th preamble. On this basis, CBS has chosen to focus on two benchmarks: Benchmarks 6.1: Extent of research CBS aims to ensure that the extent of research publications (measured as BFI points) in relation to the number of full-time research equivalents is at its absolute best compared to similar areas 13

14 in Denmark. 6.2: Research quality CBS wishes to increase the number of articles published in selected journals. 6.1: Extent of research To measure the extent of research, CBS has chosen to use the Danish Bibliometric Research Indicator (BFI) and compare it to the number of full-time research equivalents. We find that BFI is the proper tool for measuring the extent of research, as it measures the amount of publications as points published in a given period. The BFI measurement covers the majority of CBS' research areas and thus a significant part of CBS' research. In (2010 figures), CBS obtained 950 BFI points within social science. Compared to the number of full-time research equivalents, this is 3.32 BFI points per full-time research equivalent, which is the highest number in comparison with the other Danish universities. During the contract period, CBS wishes to retain its status as no. 1 among the providers of social science programmes, as we strive to generate most BFI points per full-time research equivalent. The concrete milestones for the contract period are thus as follows: BFI points within social science 950 Total number of full-time research equivalents at CBS 286 BFI/Full-time research equivalents 3.32 Placement compared to the other providers of social science programmes No. 1 No. 1 No. 1 No. 1 Comments: The calculation shows CBS' position when comparing the number of BFI points within social science with the number of full-time academic equivalents distributed on the "research" area, cf the statistical tools of Universities Denmark. The number of full-time research equivalents is defined as the number of full-time academic equivalents distributed on the purpose research in the key figures of Universities Denmark. CBS does not distribute the full-time research equivalents on core areas, for which reason the calculation includes all full-time academic equivalents (humanities and social science), but BFI publications within social science. CBS does not include publications within other areas as the number of BFI points is very small. 6.2: Research quality 14

15 CBS covers a wide spectrum of research areas within social science and the humanities. For many years, CBS has discussed opportunities and methods for measuring research quality ambiguously. However, it must be recognised that it has not been possible to find internationally acknowledged measurements that are able to measure the overall quality of CBS' research. At the same time, CBS wants to create a culture in which research quality is measured more systematically and compared with internationally acknowledged publication lists on a continuous basis. CBS has decided to focus on 3 measurements: 1 CBS' place on the UT Dallas list 2 Number of articles published in journals on the ABS list 3 Number of articles published in journals on the FT 45 list The University of Texas at Dallas list (UT Dallas) is used for the ranking of all business schools in the world. At the moment, CBS is ranked 81st in the world and 6 in Europe. The list adds up the number of articles per institution in 24 management journals. The UT Dallas list does not cover all the academic areas of CBS, but includes publications within: Accountancy, Finance, Information Management, Marketing, Operations Research and Management Science, General Management, Organisation studies, Strategic Management, International Management. The UK Association of Business Schools (ABS) ranks business school-relevant journals on a scale from 1-4*. CBS chooses solely to focus on the 4-4* journals, which include 94 journals. The list does not include a ranking in itself, which is why CBS aims to increase the number of articles in preference to place. The ABS list does not cover all the academic areas of CBS, but includes publications within: Accountancy, Economics, Finance, General Management, Marketing, Information Management, Organisation studies, Operations Research and Management Science, Strategic Management. FT45 is a list on which the Financial Times ranks the 45 best business school-relevant journals. FT45 is more extensive than UT Dallas, but more narrow than the ABS list. The list adds up the number of articles published in 45 journals and is also part of Financial Times' ranking of executive MBA programmes. CBS also aims to increase the number of articles published in journals on the list. FT45 does not cover all the academic areas of CBS, but includes publications within: Management Accounting, Economics, Entrepreneurship, Human Resources, Operations and Informations Systems, Organisational Behaviour, Ethics, Marketing, Finance, International Business, Statistics. These measurements are thus not covering all the research areas of CBS, but it is the ambition that CBS discovers similar methods of measurement within other research areas in a number of years. The calculations only include articles and reviewed articles, not reviews and editorials. It is also important to underline that both ABS and FT45 measures in two-year intervals. The first measurement is thus for the period and ends with UT Dallas measures in five-year intervals. They begin with and ends with

16 During the contract period, CBS wants to increase the number of published articles in the journals that are part of UT Dallas, ABS and the FT45 lists. Therefore we strive after the following milestones: CBS place on the UTD No. 6 in Europe No. 6 in Europe No. 6 in Europe No. 5 in Europe Number of articles published in journals on the ABS list Number of articles published in journals on the FT 45 list Comments: The calculation is based on CBS' own records in PURE. The ambition for the contract period is that CBS climbs up one place on the UTD list before 2014 that the number of articles published on the ABS list increases by 20 per compared with the period that the number of articles published on the FT45 list increases by 20 per compared with the period Voluntary objectives: Contribution to Society CBS has named the most re strategy "Business in Society" in recognition that it is our responsibility as a business school to ensure that new knowledge and new ideas are transferred to private companies, organisations and society in general. CBS' most significant contribution to society takes place through research-based teaching activities and the graduates who bring new knowledge with them out into society, as well as the bridges that CBS and its researchers build with companies and organisations. CBS wants to measure the extent to which CBS contributes to society by means of two benchmarks: Benchmarks 7.1: Number of graduates from the master's programmes CBS wants to increase the number of graduates from the master's programmes 7.2: Externally funded research CBS wants to increase the externally funded research 16

17 7.1: Number of graduates from the master's programmes In the past years, CBS has experienced an increase in the enrolment of students in both the bachelor and master's programmes. With a focus on having as many students as possible completing the programme, CBS' aims to ensure a corresponding increase in the number of graduates. There should be an expected increase of approximately 7 per per year corresponding to the average increase in the enrolment in the master's programmes in the past 5 years (the period 2007-). The concrete milestones for the contract period: Number of graduates from the master's programmes Perage increase of the number of graduates from the master's programmes 1,850 1,980 2,120 2, per 7 per 7 per Comments: The calculation shows the number of registered graduates in the period of 1/10-30/9, cf. CBS' own calculations. The very large increase in makes up for the fact that the number of graduates in only showed a marginal increase of 0.4 per. 7 per 7.2: External funding CBS' ability to attract external funding reflects to a large extent the funding providers' prioritisation of allocation of funding for the social science areas. The European Commission's launch of the Seventh Framework Programme (FP7) in 2007 was EUs first attempt to establish a number of procedures with focus on "Socioeconomic sciences and humanities". From 2007 and up to now, CBS has been able to reach a prominent place in FP7. The launch of the next research framework programme (Horizon 2020) continues the specific funding for Socioeconomic sciences and humanities and strengthens the focus on the inclusion of social science research environments in the technical/wet science procedures. As far as Danish research is concerned, there is a tendency towards more inclusion of social science research environments and an acknowledgement of the social science and humanistic research environments' possibility of contributing to a growth agenda. It is, however, worth noting that the share of both national and EU research funding for research within humanities and social science is significantly smaller than the funding for technical/wet sciences. CBS will also place focus on increasing external private funding - both foundations and 17

18 companies - but in this case CBS is facing the same challenges as with the EU and national sources. However, in the past years, CBS has had an increased focus on external funding and will continue this in combination with a strategic focus on both foreign and Danish high-profile and prestigious research funding. Examples of such funding are Sapere Aude, the Danish National Advanced Technology Foundation, the Danish National Research Foundation, and the European Research Council (ERC). During the contract period, CBS wishes to increase externally funded research, including privately funded research - by the following concrete milestones: Externally funded research, DKK 1,000 82,940 91, , ,390 Increase in per 10 per 10 per 10 per Comments: The calculation shows project income registered in the fiscal year in question, cf. the profit and loss account. This reflects the activities that have taken place during the year. The calculation includes all externally funded research projects categorised under UK95. In, the externally funded research corresponded to 25 per of CBS' overall research funding. It is worth mentioning, that CBS aims to increase the share of externally funded research to 50 per of CBS' overall research funding in the next 10 years. This is based on CBS' current level of basic government research funding, and this will correspond to an average annual growth of 10 per. The strategic focus on highprofile research funding implies, however, that larger fluctuations in the share of allocated funding may occur. 18