FACULTY OF ECONOMICS AND BUSINESS AND THE FACULTY OF LAW PROPOSAL FOR MASTERS OF INTERNATIONAL BUSINESS AND LAW

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1 FACULTY OF ECONOMICS AND BUSINESS AND THE FACULTY OF LAW PROPOSAL FOR MASTERS OF INTERNATIONAL BUSINESS AND LAW 1. Content and Purpose This proposal is for a Masters in International Business and Law. It is proposed that the degree will be a joint degree between the Faculty of Economics and Business and the Faculty of Law. The proposal seeks to build on the existing strengths and reputations of both Faculties in the area of postgraduate education. The Faculty of Law has by far the largest postgraduate coursework program in Australia, with about 100 Units of Study offered each year. The Faculty of Law already offers a wide range of specialist postgraduate coursework programs, including: Administrative Law and Policy, Criminology, Environmental Law, Health Law, International Law, Jurisprudence, Labour Law and Relations, and Taxation. The proposed new degree will complement the Faculty s existing postgraduate offerings and will serve to strengthen the commercial and business profile of the Faculty. The Faculty of Economics and Business currently offers programs in International Business, Commerce, International Studies, Economics, Public Affairs, Industrial Relations and Human Resource Management, Transport and Logistics Management. The two Faculties have strengths which are complementary to one another. The Faculty of Law draws its student body mainly from New South Wales. It is aiming to increase the numbers of overseas students enrolled in its coursework degrees. The Faculty of Economics and Business has been very successful indeed in recruiting overseas students, and is seeking to expand the numbers of local students enrolled in its degrees. The two Faculties already have a number of Units of Study in the area of International Business. The units of study offered by the Faculty of Economics and Business in its International Business Stream of the Master of Commerce include Global Supervision of Bank Risks, Globalisation and Human Resource Management, Industrial Competitiveness, International Accounting, International Business Finance, International Business Strategy in Asia, International and Comparative Industrial Relations, International Global Marketing, International Logistics, International Money and Finance, Media and International Politics, Politics of the World Economy, and Trade and Development, The International Business Stream already includes three units offered by the Faculty of Law. These are: Australian International Taxation, Australian Tax Treaties and Transfer Pricing in International Taxation. The Faculty of Law has a Masters degree in International Taxation and a graduate diploma of International Business Law. The Units of Study which are offered in these specialist degrees are also available to students in the Master of Laws program (LLM) and in the Masters of International Law (MIL). The Units of Study offered by the Faculty of Law most relevant to a degree in international business are International Business Law, International Commercial Arbitration, International Trade Regulation and the subjects in international taxation. These will be supplemented by other units in commercial law, Asian law and international law which will allow students to explore a variety of themes and areas of specialisation. These 1

2 subjects would be accessible to students who do not have a law background. Masters of Commerce students already participate successfully in the Law Faculty s taxation law programs. It is expected that the proposed degree will be very attractive to students wishing to study international business because of its interdisciplinary nature. In an age of globalisation, issues of international trade are of the greatest importance to business people both in Australia and elsewhere. The program will be unique in Australia. The University of NSW has a joint Masters degree in law and business. This degree will be differentiated by its international focus and this is reflected in its title. The multi-disciplinary emphasis, combining also the strengths of two Faculties, is also reflected in its title. The focus on international business also differentiates this degree from the law subjects offered by lawyers in the Faculty of Economics in its Masters of Commerce program. These subjects are all concerned with Australian commercial law. 2. Student Load Introduction It is proposed to introduce this program in semester 2, Level of Intake Students may be admitted consistent with Faculty norms in either first or second semester. Student numbers will be entirely market driven. After three years, it is expected that there will be students in the program. This estimate is based on the success of similar new degrees. Given that all of the units of study offered to students undertaking the Masters of International Business and Law are currently offered to students in either the Faculty of Law or the Faculty of Economics and Business, the viability of the Master of International Business and Law will not depend on a minimum level of intake. Full-time/Part-time Candidates may complete the Masters of International Business and Law on either a full-time or a part-time basis. Consistent with current modes of teaching for postgraduate programs offered by the Faculty of Law, all law units of study in the degree will be taught either in the evenings or in an intensive format. Length of Candidature Full-time candidates for the Master of International Business and Law must complete all the requirements for the Degree not more than 3 years for full time students and not less than 12 months from the date of first enrolment as a candidate. Part-time candidates for the Degree must complete all the requirements for the Degree not more than 6 years and not less than 2 years from the date of first enrolment as a candidate. Transfer in Enrolments There is a possibility that candidates currently enrolled in other postgraduate coursework programs within the Faculty of Economics and Business or the Faculty of Law who have a specialised interest in international business and law may seek to transfer to the Masters of International Business and Law. International and Fee-paying Students None of the above details differ for local fee-paying postgraduate students or for international students. 2

3 Discussions with the Planning Support Office This program has not been subject to discussion with the Planning Support Office as it is a fee-paying program, which is out-of-load. 3. Internal Courseload Details The degree will consist of eight Units of Study. Four will be taken within the Law program, and four within the Economics and Business program. Students who do not have a degree in law will normally be expected to take an introductory unit of study on legal reasoning and the Australian legal system. The Faculty of Law may waive this requirement if applicants have completed those law subjects which are necessary for a qualification in accountancy, or their equivalent in another common law jurisdiction. The Unit of Study International Business Law offered by the Faculty of Law will be a compulsory Unit of Study for the degree. In addition, students may select from a range of optional Units of Study offered by the Faculty of Law. Prerequisites may be introduced for some of these units if the Faculty of Law regards it as necessary. Chinese Laws and Chinese Legal System (Winter School, Shanghai) Chinese Legal Systems & Foreign Investment Law Comparative Corporate Taxation Comparative International Taxation International Commercial Arbitration International Environmental Law International Trade Regulation Maritime Law Tax Law in Asia and the Pacific Tax Treaties The Legal System of the European Union Trade and Commerce in European Law Transfer Pricing in International Taxation UK International Taxation US International Taxation Vietnamese Law and Legal System (Winter School, Hanoi) Students may select from the following Units of Study offered by the Faculty of Economics and Business. The Foundation Units form the prerequisite to the International Business Stream. Under this proposal, students would select up to four units from either Table A or Table B taking into account the prerequisites listed in Table B. A minimum of two units of study will be undertaken from Table B. The Faculty of Economics and Business will consider waivers for Table A units of study listed as prerequisites in Table B, where students have completed study in these units or equivalent, in their previous degrees. Table A: Foundation units of Business Accounting Principles Australian Capital Markets and Corporate Finance Australian Industrial Relations Econometric Theory Human Resource Management Legal Environment and Business Macroeconomics Managerial Accounting and Decision Making Marketing Principles Microeconomics 3

4 Table B: The International Business Stream Global Supervision of Bank Risks (prerequisite: Macroeconomics and Microeconomics) Globalisation and Human Resource Management Industrial Competitiveness (prerequisite: Macroeconomics and Microeconomics) International Accounting (prerequisite: Accounting Principles) International Business Finance (prerequisite: Australian Capital Markets and Corporate Finance International Business Strategy in Asia (no prerequisite) International and Comparative Industrial Relations (prerequisite: Australian Industrial Relations) International and Global Marketing (prerequisite: Marketing Principles) International Logistics (no prerequisite) International Money and Finance (prerequisite: Macroeconomics and Microeconomics) Media and International Politics (no prerequisite) Politics of the world Economy (no prerequisite) Trade and Development (prerequisite: Macroeconomics and Microeconomics) 4. Direction and Administration of the Course All postgraduate programs of study within the Faculty of Law are subject to review and oversight by the Postgraduate Coursework Committee of the Faculty and fall under the administrative responsibility of the Associate Dean (Postgraduate Coursework) and the Program Co-ordinator. In the Faculty of Economics and Business, all postgraduate programs of study are subject to review and oversight by the Graduate Studies Board (GSB) and fall under the administrative responsibility of the Chair and Associate Dean (Postgraduate Coursework Programs). In addition, it is proposed that the Program Co-ordinators from both Faculties would jointly have responsibility for day-to-day administration of the degree. In the case of the Faculty of Economics and Business, the Program Co-ordinator is the Associate Dean for Postgraduate Coursework Programs. Together they will make joint academic decisions on day-to-day student matters as appropriate. 5. General Infrastructure The key resource implications raised by this proposal are: A commitment by both Faculties to support the administration of the Program through the Student Services Division and the Associate Dean (Postgraduate Coursework); A commitment by both Faculties to advertise the program locally and internationally; A commitment by the Faculty of Law to staff the units of study being offered for the Degree in the Faculty of Law; A commitment by the Faculty of Economics and Business to staff the units of study being offered for the Degree in the Faculty of Economics and Business; The University libraries being able to address the research and other study needs of students undertaking the Program. In the Faculty of Law, the Faculty through the Postgraduate and CLE Team, the Program Coordinator, and the Associate Dean (Postgraduate Coursework) provide administrative services to support admission, enrolment and other matters associated with the needs of coursework candidates. 4

5 In the Faculty of Economics and Business, the Faculty through the Student Services Manager and the Associate Dean (Postgraduate Coursework Programs) provide administrative services to support admission, enrolment and other matters associated with the needs of coursework candidates. It is proposed that a grant be sought by the Faculty of Law from the College to cover initial marketing and establishment costs. To the extent that these are not met by such sources, each Faculty will include this program in its existing marketing and promotional plan. A commitment by both Faculties to provide teaching staff to ensure that sufficient units of study are offered on a regular basis is a fundamental resource implication. However, no new units of study are proposed for the Degree and the ones which will provide the core of this new degree are offered on a regular basis. A Program co-ordinator will be appointed by the Dean of the Faculty of Law and the Associate Dean (Postgraduate coursework programs) in the Faculty of Economics and Business to deal with the day-to-day co-ordination of the Degree. 6. Library resources Because the joint degree is based upon existing units, library resources are adequate. Indeed, the university has strong collections in these subjects. The Faculty of Law will arrange a library impact statement to this effect. 7. Fees It is proposed that the fees for the degree be based upon the fee structure already existing for each Faculty. That is, in 2002 local students will pay $1,600 for Law units and international students will pay $2,000. From 2002, units of study in the Faculty of Economics and Business will cost $ 1,600 each for local students and $2,000 for international students. 8. Consultation and Evaluation This proposal has been devised following consultation in the Faculty of Economics and Business with the Graduate Studies Board (GSB), and in the Faculty of Law, with the Postgraduate Coursework Committee. The Degree would be subject to continuing review of the Faculty of Law Postgraduate Coursework Committee and the Faculty of Economics and Business Graduate Studies Board (GSB). The Academic Board and Senate require the reviews. 9. Resolutions The amendments to the Senate Resolutions are attached to this proposal. Amend the Resolutions for the Master of International Business as follows Master of International Business and Law Award of the degree 1. (1)The degree of Master of International Business and Law shall be awarded either as a Pass degree provided that an outstanding student may be awarded the degree with merit. (2)The testamur shall so specify if the degree is awarded with Merit, and the testamur shall specify any major and minor subject areas as defined in section 6 below. Eligibility for admission 2. An applicant for admission to candidature for the degree of Master of International Business and Law shall: (1)except as provided for in chapter 10 of the By-laws* be a graduate of The University of Sydney; and 5

6 (2)have completed a bachelor s degree or subsequent study at a standard acceptable to the Faculty. Exemptions 3. The Faculty may deem time spent or work done towards any other degree or diploma in The University of Sydney (see section 2 above) by a candidate before admission to candidature for the degree of Master of International Business to be time spent or work done after admission, provided that the candidate has ceased to be a candidate for the other degree or diploma, and provided that exemptions constitute no more than half of the prescribed coursework for the degree. Method of progression 4. A candidate for the degree shall proceed by coursework only. Requirements for the degree 5. The degree will consist of eight Units of Study. Four will be taken within the Law program, and four within the Economics and Business program. Students who do not have a degree in law will normally be expected to take an introductory unit of study on legal reasoning and the Australian legal system. The Faculty of Law may waive this requirement if applicants have completed those law subjects which are necessary for a qualification in accountancy, or their equivalent in another common law jurisdiction. The Unit of Study International Business Law offered by the Faculty of Law will be a compulsory Unit of Study for the degree. In addition, students may select from a range of optional Units of Study offered by the Faculty of Law. Prerequisites may be introduced for some of these units if the Faculty of Law regards it as necessary. Chinese Laws and Chinese Legal System (Winter School, Shanghai) Chinese Legal Systems & Foreign Investment Law Comparative Corporate Taxation Comparative International Taxation International Commercial Arbitration International Environmental Law International Trade Regulation Maritime Law Tax Law in Asia and the Pacific Tax Treaties The Legal System of the European Union Trade and Commerce in European Law Transfer Pricing in International Taxation UK International Taxation US International Taxation Vietnamese Law and Legal System (Winter School, Hanoi) Students may select from the following Units of Study offered by the Faculty of Economics and Business. The Foundation Units form the prerequisite to the International Business Stream. Under this proposal, students would select up to four units from either Table A or Table B taking into account the prerequisites listed in Table B. A minimum of two units of study will be undertaken from Table B. Waivers will be considered by the Faculty of Economics and Business for Table A units of study listed as prerequisites in Table B, where students have completed study in these units or equivalent, in their previous degrees. Table A: Foundation units of Business Accounting Principles Australian Capital Markets and Corporate Finance Australian Industrial Relations Econometric Theory Human Resource Management Legal Environment and Business Macroeconomics Managerial Accounting and Decision Making Marketing Principles Microeconomics Table B: The International Business Stream Global Supervision of Bank Risks Globalisation and Human Resource Management Industrial Competitiveness International Accounting International Business Finance International Business Strategy in Asia) International and Comparative Industrial Relations International and Global Marketing International Logistics 6

7 International Money and Finance Media and International Politics Politics of the world Economy Trade and Development Time limits 8. (1)A candidate shall engage in The University of Sydney either in full-time study for not less than two semesters or in part-time study for not less than four semesters (excluding the winter or summer sessions). (2)A full-time candidate shall complete the requirements for the Pass level of the degree within six semesters from the date of first enrolment, provided that in special circumstances the Faculty may extend this period to eight semesters (excluding the summer session). (3)A part-time candidate shall complete the requirements for the Pass level of the degree within eight semesters from the date of first enrolment provided that in special circumstances the Faculty may extend this period to ten semesters (excluding the summer session). 9. A candidate shall, on the basis of examinations and assessments at the end of each semester of candidature, satisfy the Faculty that the candidature should proceed. Examination 10.(1)The Head of the Department concerned with each unit of study shall appoint an examiner or examiners to conduct any prescribed examinations. (2)The examiners shall report to the Faculty of Economics and Business which shall determine the result of the examination. Termination 11.The Faculty may call upon any candidate to show cause why that candidature should not be terminated by reason of unsatisfactory progress towards completion of the degree and where, in the opinion of the Faculty, the candidate does not show good cause, terminate the candidature. Availability 12.(1)Admission to the degree and enrolment in particular units of study or areas may be limited by quotas. (2)In determining the quotas, the University will take into account: (a) availability of resources including space, library, equipment and computing facilities (b) availability of staff. (3)In considering applicants for admission to candidature, the Faculty shall take account of the quota and will select in preference applicants who are most meritorious in terms of section 2 above. Amend the Resolutions for the Faculty of Law degrees as follows (pp , 2001 Calendar): In the definition of degree insert the words Master of International Business and Law after Master of Health Law. (p288) In clause 1.1(a) insert Master of International Business and Law (MIntBus&L) after Master of Health Law (MHL). (p288) Insert a new paragraph 3.10 and renumber subsequent paragraphs accordingly. The new paragraph 3.10 is: What are the particular requirements for the Master of International Business and Law? 3.10(a) The units of study for the Master of International Business and Law may be prescribed by the Faculty, or by the Faculty of Economics and Business as units of study leading to the degree. (b) Candidates for the Master of International Business and Law must complete a total of 48 credit points for the degree, comprising of 24 credit points of units of study offered by the Faculty of Law, and 24 credit points of units of study offered by the Faculty of Economics and Business. Appendix: Units of Study Offered by the Faculty of Law (insert p 295, 2001 Calendar, after Master of Health Law degree): Master of International Business and Law Compulsory Unit of Study International Business Law Optional Units of Study Chinese Laws and Chinese Legal System (Winter School, Shanghai) Chinese Legal Systems & Foreign Investment Law Comparative Corporate Taxation Comparative International Taxation International Commercial Arbitration International Environmental Law International Trade Regulation Maritime Law Tax Law in Asia and the Pacific Tax Treaties 7

8 The Legal System of the European Union Trade and Commerce in European Law Transfer Pricing in International Taxation UK International Taxation US International Taxation Vietnamese Law and Legal System (Winter School, Hanoi) 10. Administrative Aspects of Implementation Both Faculties note the requirement to make a recommendation for the approval of an appropriate academic dress. 11. Further Information Cross-institutional Study Candidates for the Degree will be able to gain credit for up to 12 credit points for crossinstitutional study consistent with the policies of the Faculty of Law for other Degrees. Candidates will be able to gain up to 12 credit points for cross-institutional study consistent with the current policies of the Faculty of Economics and Business. Contact: Professor Ann Brewer, Chair, Graduate Studies Board, Faculty of Economics and Business 8

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