DEGREE REGULATIONS FOR HANKEN SCHOOL OF ECONOMICS

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1 DEGREE REGULATIONS FOR HANKEN SCHOOL OF ECONOMICS These degree regulations were approved by the Board of Hanken School of Economics on 16 April They replace earlier versions of the Degree Regulations and enter into force on 1 May These regulations apply subject to the provisions of the Universities Act (558 / 2009), the Act on the Implementation of the Universities Act (559/2009), the Government Decree on Universities (770/2009), the Government Decree on University Degrees (794/2004, the Decree on Degrees) or other Acts or Decrees. In addition to the regulations, the Rector can approve instructions and guidelines relating to teaching and degrees. CHAPTER 1: GENERAL REGULATIONS 1 Mission of Hanken School of Economics The mission of Hanken, a leading autonomous business school in northern Europe, is to advance new knowledge in business and society through research and teaching activities which are characterised by academic excellence and corporate world relevance, through a programme portfolio that is targeted to an international student body simultaneously safeguarding Hanken s statutory responsibility for educating business graduates that are fluent in Swedish, through current research-based management education that fosters analytical and critical thinking as well as managerial competencies, and through executive education and life-long learning that have a profound impact on management practice. In fulfilling its mission, Hanken fosters values of openness, social responsibility, integrity and high quality in all activities. 2 Degrees The following degrees can be awarded by Hanken: Bachelor of Science (Economics and Business Administration), Master of Science (Economics and Business Administration), Licentiate of Science (Economics and Business Administration), Doctor of Science (Economics and Business Administration) and Doctor of Philosophy. Hanken can offer degree studies in cooperation with Finnish and foreign universities. Hanken can also offer specialisation education. 3 Degree and teaching languages The teaching and degree languages at Hanken are Swedish and English. The Bachelor of Science degree is completed in Swedish. The other degrees can be completed in Swedish or English. The degrees can include studies completed in other languages. 1

2 The Academic Council decides on teaching languages for individual courses. 4 Granting the right to study The Rector grants the right to study for a degree at Hanken ( study right ). The right to study is granted for both the Bachelor of Science degree and the Master of Science degree, for a Master of Science degree, for a Doctor of Science degree with the right to take a Licentiate of Science degree, or for a Doctor of Philosophy degree. The Rector grants the right to study in specialisation education. An individual can hold only one study right for a degree at the same level at Hanken. A student may apply to the Rector for the right to change to another study right for the same degree, without following the usual admission procedures. A students who has completed a lower university degree and has a study right covering both the Bachelor s and Master s degree, can apply to the Rector for the right to change to a study right for only the Master of Science degree without following the usual admissions procedures. A new study right is granted on comparable grounds as for eternal applicants. A right to study can also be granted for non-degree studies, for given courses during a limited time period. The Rector decides how the non-degree study rights are granted. 5 The range of studies The degrees mentioned in 2 can include studies in economic sciences, studies in languages and business communication, method studies, multidisciplinary studies, internships and other studies that can be accepted as part of the degree. The range of studies is measured in credits. A student s average input during one academic year is estimated to be hours, which is equivalent to 60 credits. 6 Subjects and degree programmes At Hanken, instruction is provided in the following subjects within the economic sciences: politics and business (up to intermediate studies level), entrepreneurship and management and organisation, finance, management and organisation, commercial law, information systems science, supply chain management and social responsibility, marketing, economics, accounting and statistics. In Helsinki instruction in languages and business communication is provided in Swedish, Finnish, English, French, Russian, Spanish and German. In Vaasa instruction in languages and business communication is provided in Swedish, Finnish, English and German. The Academic Council can make decisions about providing instruction in additional subjects. Education leading to a Bachelor s or Master s degree can be organised based on subjects or as programmes. 2

3 At the Helsinki campus, students for the Bachelor s degree can choose to major in entrepreneurship and management and organisation, finance, management and organisation, commercial law, information systems science, marketing, economics or accounting. At the Vaasa campus, students for the Bachelor s degree can choose to major in entrepreneurship and management and organisation, finance, commercial law, marketing or accounting. At the Helsinki campus students for the Master s degree can major in entrepreneurship and management and organisation, finance, management and organisation, commercial law, information systems science, supply chain management and social responsibility, marketing, economics or accounting. A study module in statistics can be included in the Master s studies in finance. At the Vaasa campus students for the Master s degree can major in entrepreneurship and management and organisation, finance, commercial law, marketing or accounting. At the Helsinki campus PhD students can major in entrepreneurship and management and organisation, finance, management and organisation, commercial law, information systems science, supply chain management and social responsibility, marketing, economics or accounting. A study module in statistics can be included in the PhD studies in finance. At the Vaasa campus PhD students can major in entrepreneurship and management and organisation, finance, commercial law, marketing or accounting. The education can also be arranged as interdisciplinary study programmes and it can include interdisciplinary study modules. The education for a master s degree can be arranged within master s programmes to which the students are admitted on the basis of their previous higher education degree. 6a Study or work experience abroad The Bachelor s degree shall include one ongoing stay abroad of at least three months, in the form of studies or internship. This stay abroad shall take place after admission to the Bachelor s degree. On particular reasons a student can be granted exemption from the stay abroad. Such exemptions are granted by the Rector. Particular reasons in this respect can be the student s a) family circumstances and custodial responsibilities; b) illness or a difficult life situation; c) substantial societal activity. 7 Language skill requirements in bachelor s and master s degrees A student who has received his or her secondary education in either Swedish or Finnish in Finland must demonstrate in the studies that are part of the bachelor s degree 1) such skills in the Swedish and Finnish languages as demanded in 6 in the Decree of Degrees 3

4 2) skills in at least two other languages. The students should have demonstrated skills that enable them to follow the economic field and act in an international environment in at least one of these languages. The language skill requirements for Bachelor s students who have not received their secondary education in either Swedish or Finnish in Finland are set by the Rector. A student who has received his or her secondary education in either Swedish or Finnish in Finland and who has not shown the language skills that are required according to 6 in the Decree on Degrees within his or her previous higher education degree, is required to demonstrate such skills in the master s degree. The Rector can, for specific reasons, grant a student complete or partial exemption from the language requirements. 8 Maturity test in connection with bachelor s or master s thesis Each student must take a written maturity test in accordance with the regulations in sections 10 and 16 of the Government Decree on University Degrees (794/2004). CHAPTER 2: THE BACHELOR S DEGREE 9 Learning goals for the bachelor s degree The basis for the education that leads to a bachelor s degree is the level provided by upper secondary education including the studentexamen (matriculation examination) or other equivalent education. The education for the degree of Bachelor of Science (Economics and Business Administration) shall provide the student with 1. the basic knowledge of the major and minor subjects of the degree, knowledge of the central subjects in the economic sciences and the ability to follow developments in the field, 2. the ability to engage in scientific thinking and the knowledge and skills that are required for a scientific approach, 3. the ability to find, handle and assess knowledge at a scientific level within the field of the major subject, 4. the qualifications for the education for a higher university degree (master s) and for continuing education, 5. the ability to apply acquired knowledge in their work life, 6. adequate communication skills and knowledge, 7. the ability to act in an international context and 8. an understanding of social responsibility. 10 Eligibility and admission of students 4

5 The eligibility requirements for studies leading to a bachelor s degree are specified in 37 of the Universities Act. In order to be eligible for admission, an applicant should also have sufficient knowledge in the Swedish language. Applicants can be ranked according to their results in the admission test, their scores in previous degrees and /or content and success in earlier studies, or in other ways decided upon by the School. The Board of Hanken decides on the student admission quotas and the Academic Council decides on the grounds for admission. 11 Completing a bachelor s degree The studies for a bachelor s degree should comprise at least 180 credits. For a bachelor s degree a student should complete 1. compulsory basic courses in economic sciences 2. intermediate studies in the major subject or another equivalent study module including a bachelor s thesis 3. minor studies, i.e. a study module in addition to the major subject comprising at least 25 credits 4. studies in languages and business communication and 5. methodology studies. The compulsory basic courses in economic sciences together with mandatory orientation and study planning comprise 55 credits. The objective of the compulsory studies is that the student should understand the basics of the central economic sciences. The basic studies in a subject or equivalent study module should comprise at least 25 credits. The objective of the basic studies is that the student should acquire the knowledge of the central concepts and basic theories of the subject. After completing the studies the student should to have a good ability to discuss the issues that are relevant to the subject. The intermediate studies, including the basic studies and a bachelor s thesis worth 10 credits, should comprise at least 60 credits. Within the intermediate studies, the student should become acquainted with the concepts and the central theoretical and methodological content, the central factual basis and the most important research results within the subject. Further, the student should gain an understanding of the most central problems within the subject. The language studies should comprise at least 24 credits. At least 6 credits is required in each of the national languages (Swedish and Finnish) and at least 6 credits in each of two foreign languages. Studies in methodology should comprise at least 6 credits. 12 Choice of subjects 5

6 After attending for two terms, the student should choose a major subject. Admission to the major subjects can be restricted by quotas. The students should create an individual study plan based on the study plan of the main subject. The choice of a major subject determines the department to which the student belongs. The department has the right to reasonably require that students in the major subject take courses in such other subjects that support the major subject. CHAPTER 3: THE MASTER S DEGREE 13 Learning goals for the master s degree The education for a master s degree is based on the level provided by a bachelor s degree or other equivalent education. The educationfor the degree of Master of Science (Economics and Business Administration) shall provide the student with 1. a good knowledge in the major subject or an equivalent study module 2. the ability to apply scientific knowledge and scientific methodologies 3. a good ability to find, assess and handle scientific knowledge within the field of economics 4. skills required for undertaking postgraduate education 5. qualifications for acting as an expert, in both a national and international context, in his or her field and in a way that develops the field 6. good communication and language skills for academic purposes and business purposes. The education combines studies with scientific research. 14 Eligibility and admission of students The eligibility requirements for studies leading to a master s degree are specified in 37 of the Universities Act. In order to be eligible for admission, an applicant should also have sufficient knowledge in the degree language. Different study programmes can have different requirements regarding the contents of previous studies. A student who has completed a bachelor s degree at Hanken has the right to continue pursuing a master s degree in the major subject of the bachelor s degree, or can apply for a switch the right to continue in another subject or in a Master s programme. Applicants can be ranked according to the content of earlier studies and the grades gained, results in acknowledged tests, or in some other way decided upon by the School. In connection with the admission, the Rector can if suggested by the programme decide that the student should supplement his or her knowledge in order to be eligible for master s studies or supplement his or her knowledge within the optional studies of the Master s degree. 6

7 The Board of Hanken decides on the student admission quotas and the Academic Council decides on the grounds for admission. 15 Completing a master s degree The Master s degree is taken after the completion of the Bachelor s degree or a corresponding education. The studies for a master s degree should comprise at least 120 credits. For a master s degree a student should complete 1. advanced studies in the major subject or an equivalent study module includinga master s thesis, 2. other studies that are specified for the programme 3. studies in methodology in connection with the advanced studies and 4. language studies. The student should demonstrate that he or she has achieved the goals set for the degree, the studies and master s thesis and acquired the language skills required for the degree. The advanced studies should comprise at least 60 credits and they should include a master s thesis of 30 credits. During the advanced studies the student should acquire 1. skills to acquire scientific knowledge independently and to utilise, analyse and solve problems in new situations within the field by applying scientific knowledge 2. advanced knowledge of scientific theories and methods for research and problem solving which are central to the field of the studies. In addition to the advanced studies in the major subject, the students shall complete programme-specific studies comprising at least 90 credits altogether. The programmespecific studies can be additional studies in the major subject or studies in a supporting subject. The master s degree should include language studies of at least 6 credits. CHAPTER 4: POSTGRADUATE EDUCATION 16 Learning goals for the postgraduate education The goal for postgraduate education is that the student 1. thoroughly learns to know his or her own research area and its social significance, 2. is able to apply scientific research methods in his or her research area independently and critically, 3. becomes well acquainted with the development, basic problems and research methods in his or her research area, 4. becomes well acquainted with general theory of science, 7

8 5. acquires such knowledge of the economic sciences and the fields that relate to his or her research area which is necessary in order to understand the development of research and research results, 6. is able to create new scientific knowledge independently. 17 Eligibility and admission of doctoral students Persons with the following qualifications can be admitted to postgraduate education in the economic sciences leading to completion of the degree of Doctor of Science (Economics and Business Administration) 1. a Finnish university level master s degree or an international degree at the equivalent level within economic sciences 2. another Finnish university level master s degree or an international degree at the equivalent level. Within or in addition to this degree the applicant should have completed the equivalent of 36 credits in business economics subjects and 6 credits in the subject economics Persons that have completed a Finnish university level master s degree or an international degree at the equivalent level can be admitted to postgraduate studies leading to the completion of a Doctor of Philosophy degree provided that the research area relates to any of the major subjects that can be chosen within a Doctor of Science (Economics and Business Administration) degree. Before an applicant can be admitted to postgraduate education, he or she should have completed advanced studies in the intended major subject or have corresponding knowledge of the subject. The knowledge required is at least 27 credits at the intermediate level and 18 credits at the advanced level and such other completed courses that are required by the intended major subject. In addition, sufficient language skills are also required to qualify for postgraduate studies. The Rector decides on admission based on statements from representatives from the major subject in question. In connection with the admission, the Rector can decide that the student should supplement his or her knowledge. The Board decides on the quotas for student admission and the Academic Council decides on the grounds for admission. The Rector can agree to exemptions from the normal admission requirements for entry to postgraduate education. For a doctoral degree the student shall 18 Completing a doctoral degree 1. complete studies equal to 60 credits. The studies include 16 credits in general methodological doctoral courses or doctoral courses in theory of science or corresponding methodology courses 44 credits in doctoral courses in the major subject and subjects that support the major subject 8

9 2. write a doctoral thesis in the major subject that should be approved by the Academic Council after public examination. The doctoral thesis comprises 180 credits. A Doctor of Science (Economics and Business Administration) or a Doctor of Philosophy degree comprises 240 credits. The doctoral thesis is a test of scholarship that is based on independent research within any of the major subjects that can be chosen for a doctoral degree in accordance with the provision in 6. Through the thesis, the student should demonstrate his or her ability to conduct research of scientific value and ability to create new knowledge. The Academic Council gives separate instructions about composite theses. A person who has completed a licentiate degree can apply to have the previous courses completely or partially transferred providing that the previous degree includes 60 credits in doctoral courses corresponding to the courses specified in this paragraph. 19 Completing a licentiate degree A student who has been admitted to postgraduate educationcan complete a licentiate degree after having 1. completed the studies specified in 18 subsection 1 2. completed a licentiate thesis in the major subject approved by the Academic Council. The licentiate thesis comprises 90 credits. The Licentiate of Science (Economics and Business Administration) degree comprises 150 credits. The licentiate thesis is a test of scholarship in any of the major subjects that can be chosen for postgraduate education in accordance with 6. Through the thesis, the student should demonstrate the capacity to handle his or her research task in a scientific way and further demonstrate good knowledge of the research area and ability to apply scientific research methods independently and critically. 20 Doctoral thesis examination On application from the student, the Academic Council appoints at least two preliminary examiners to provide an explanatory statement about the scientific value of the manuscript. The student should be given the opportunity to express his or her opinion of the proposed preliminary examiners appointed. Based on the statements given by the preliminary examiners, the Academic Council decides if the manuscript can be presented for public examination. The student should be given the opportunity to express his or her opinion of the preliminary examiners statements. The Academic Council appoints one or several opponents and a public examination chair (Custos). The student should be given the opportunity to express his or her opinion of the proposed opponent. The time and place of the public examination of the manuscript will be announced on Hanken s official notice board and the manuscript will be available for public scrutiny at least ten days before the examination. 9

10 After receiving the opponents statements, the Academic Council decides if the manuscript will be approved. When assessing a doctoral thesis attention is paid to the scientific value of the research and to the author s ability to conduct scientific research, ability for individual thinking andto create new scientific knowledge. The student should be given the opportunity to express his or her view of the opponents statements. The preliminary examiner and the opponent should have completed a doctoral degree or hold an appointment as a professor. A person who has acted as thesis supervisor for the candidate or who is employed at Hanken School of Economics cannot be appointed preliminary examiner or opponent. 21 Licentiate thesis examination The licentiate thesis manuscript should be scrutinized publicly at a licentiate seminar before it can be handed in for assessment. The thesis supervisor determines the date and time of the seminar, organizes and appoints one or several opponents. The manuscript should be available for public scrutiny at least ten days before the licentiate seminar. A licentiate seminar does not generate any credits. When the licentiate thesis manuscript has been handed in for assessment, the Academic Council appoints at least two thesis examiners. The student should be given an opportunity to express his or her opinion of the proposed examiners. The examiners should give a statement to the Academic Council. It is the Academic Council s responsibility to decide if the manuscript can be accepted as a licentiate thesis. When assessing a licentiate thesis, attention is paid to the scientific value of the research and to the student s knowledge of his or her research area and his or her ability to apply scientific research methods independently and critically. The examiner and opponent of a manuscript for a licentiate thesis should have completed a doctoral degree. 22 Supervision A degree supervisor should be appointed for the student at the time he or she is admitted to postgraduate education. The degree supervisor can be a person who has been appointed as a professor at Hanken and who has been approved by the department council. A professor emeritus can continue as degree supervisor for students he or she has been appointed supervisor for before retirement, provided that his or her contract with Hanken explicitly stipulates this. Each departmental council appoints at least one thesis supervisor for the student based on a proposal from the degree supervisor and after hearing the student. 23 Individual study plan Postgraduate education studies follow an annually confirmed individual study plan, which should be approved by the degree supervisor. 10

11 CHAPTER 5: REGULATIONS ON STUDIES AND EXAMINATION 24 Completed courses Completed courses within the different study modules are given a qualitative assessment. The courses and modules within the basic, intermediate and advanced studies are assessed according to a percentage scale, where 50 per cent is required for passing. The percentage scale for passed courses corresponds to the five-point scale of excellent, very good, good, satisfactory and sufficient. The bachelor s or master s thesis and the maturity test specified in 8, sub section 1 are assessed as a single module with grades of excellent, very good, good, satisfactory or sufficient. The maturity test is assessed with respect to the student s language capacity according to grades of pass or fail. Doctoral and licentiate theses are assessed according to grades of pass or fail. In particular cases, other completed courses can also be assessed only according to the grades pass or fail. A completed course expires after ten years if the degree that includes the course has not been completed before this. 25 Transferring completed courses Studies completed within degree education or specialisation education at another university can be transferred, if they can be included in the degree studies or specialisation studies at Hanken. Studies completed within degree education at a Polytechnic can be accepted as part of the Bachelor s degree. Language studies completed at a Polytechnic and studies within education for a higher Polytechnic degree and studies within specialisation education can be included in the Bachelor s or Master s degree. Studies completed at a Finnish university can normally be transferred to their original extent and assessment. Other studies are transferred only as passed. When transferring studies abroad, the number of ECTS credits corresponds to the number of credits at Hanken. At Hanken, a bachelor s degree can include no more than 90 transferred credits and a master s degree no more than 60 transferred credits. 26 Internship An internship can be included in intermediate and advanced studies within or in addition to the minimum requirements in the subject. A course descriptionis specified for internships that can be accepted as part of the degree. 11

12 27 Degree Certificate Hanken provides the student with a degree certificate upon completion of the degree. Hanken provides a student with a certificate of a completed specialisation education. During the studies, Hanken will, on demand, provide the student with a transcript enlisting completed courses. For international use Hanken provides a supplement to the degree certificate (Diploma Supplement). The supplement includes information about the scope, content and level of the degree, what qualifications the degree provides and its position in the Finnish education system. A person who has completed the degree of Master of Science (Economics and Business Administration) the right to use the title ekonom. 28 Individual education The Rector can in exceptional cases, and if there are mitigating circumstances, give a student the right to complete a master s degree or a bachelor s degree according to a deviating study plan, provided there are sufficient resources. Also in such a case, the degree has to meet the goals as specified in 9,13 or Limitations The Board can, if the resources at Hanken prove to be insufficient, temporarily limit the number of offered major subjects and study programmes and the admission to these. Such a decision shall be reconsidered before each academic year. CHAPTER 6: ENTRY INTO FORCE AND TRANSITIONAL PROVISIONS 30 Entry into force These degree regulations will come into force on the 1 st of January 2015 and will replace the degree regulations from 1 st August 2005, including amendments. The regulation regarding a period abroad in 6a will apply to students admitted to the integrated bachelor s and master s education through admission tests in 2009 or later. For admissions in 2010 and later, the regulation will also apply to students admitted based on Open University studies. The changes in 6, concerning the offered majors in the degree programmes, apply to studies in a major subject inaugurated after Graduating based on the previous 6 is possible until ; with a PhD in statistics until

13 The new mandatory basic courses according to 11 apply to those who commence their studies in the autumn term Students who have begun their studies earlier can switch to taking the mandatory basic courses according to the new requirements. New times of expiry according to 26 are not imposed retroactively. 31 The students position A student can include studies completed in accordance with previous regulations. Old credit units ( studieveckor ) will be translated into credits by using the coefficient 1.8. A student who has met the requirements for a study module as specified in previous degree requirements is regarded as having met the requirements for the corresponding module according to the degree requirements in force. In cases where unclear situations arise when transferring courses the matter should be settled with the least possible disadvantage for the student. After , supply chain management and social responsibility cannot be chosen as a major for the Bachelor s degree, and statistics cannot be a major in the Bachelor s, Master s or PhD degree. A sufficient offering of courses and examination, to make possible graduation for students with these majors, is guaranteed during two academic years. Thereafter, students have the right to graduate with individual arrangements in these subjects until ; with a PhD in statistics until Further instructions The Rector will provide further instructions concerning the application of the degree regulations in a separate Instructions for Studies and Examination at Hanken School of Economics. 13

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