TEMPUS IV «Strengthening higher education

in the sphere of Finance in Siberia and Far East of Russia»

The main objective of the project

Modernization of higher education Master programs in the field of Finance

for the region Master curricula in remote

regions of Russia: Siberia and the Far East

Indicators of achievement• Five upgraded master programs • Five double degree programs between European

and Russian universities

• Conversion of existing training programs in the field of Finance in five Russian universities in accordance with European educational standards

• Strengthening international orientation data of master programs through five new dual programs between European and Russian universities in accordance with the Bologna process

• Improving the quality of master's degree programs through teacher training and updating the content of courses

Objectives of the project

Indicators of achievement• Converted Masters curricula (to 11/2014) • Agreement on a new dual-degree program (to

11/2014) • Start of transformed master training programs

and new double degree programs between European and Russian universities (to 09/2015)

• Improving the quality of training programs after the first year (to 06/2016)

• 45 teachers were trained in European universities (continues until 08/2016)

Description of project objectives and results

The project consists of four stages:•The first stage – detailed analysis existing

master's programs in Financial business in the participating universities and Russian analysis of the needs of the labor market (WP 1).

• Based on these results European and Russian Universities, jointly developing special directives that will include road maps for the modernization of master's programs in Finance for Russian universities.

The second stage• - conversion master curriculum in accordance

with the results of WP 1. Training programs will be modernized in accordance with the Bologna requirements and will take into account the needs of the labor market and its expectations (WP 2).

These transformations are also aimed to another important component of WP2: Five new dual Masters programs in Finance between European and Russian universities. Agreements on double degree will be signed between the European and Russian universities by the end of the first year of the project.

Given the individual training programs in Finance and specific requirements of universities, the consortium decided to create the

following double program:• National Research Tomsk State University - University of

Coimbra

• Baikal State University of Economics and Law- University of Applied Sciences Vienna

• Khabarovsk State Academy of Economics and Rights - Technical University of Kosice

• Zabaikalskiy State University - University of Umea

• East-Siberian State University Technologies and Management - University of Maribor

The third stage- update existing training courses in finance, development of new courses based on the results of WP 1 and WP 2. by conducting teacher training for 45 teachers of Russian universities. These internships will focus on didactics, interpersonal skills and relevant topics in the Financial Case.

They will be conducted in accordance with the specific needs identified in previous work packages. Through these internships Russian teachers will learn how to implement a modernized programs in the most professional way.

The fourth stage – implementation of Master programs

modernized curricula in Finance and new double programs between European and Russian universities (WP 5). Before the event start an advertising, promotion and selection will be made for student enrollment. Russian universities experience shows that there is considerable demand for Masters Degree in Finance and an opportunity to study abroad. Program will continue after the formal end of the project. The first wave of students completed their studies will graduate in the end of the summer semester 2017.

Status of implementation of the project at the time of monitoring

(June 2014)

• At this stage is completion of the first work package of the project

• Coordinator WP 1 - University of Maribor

• WP 1 was aimed at the deep analysis of the needs to convert Masters programs in Finance in Russian universities participating in the project.

•The results of the analysis are summarized in three generalized reports, which represent the directives of the activities planned in the WP 2, WP 3 and WP4

• 1_Employers_Total.xlsx• 2_Professors_teachers_assistants_Total.xlsx• 3_Students_Total.xlsx

• During the implementation of WP 1 consortium partners have established a common understanding of the status quo and the needs to convert each of the curriculum.

• University of Maribor, coordinated the entire process of implementation of WP 1: compiled and analyzed profiles of teachers, employers and students about the need for modernization of programs in Finance.

• Russian partners have provided an overview of their training programs in Finance regarding the structure, contents and teaching methods and identified the needs for reforms in these areas together with EU universities and conducted interviews with employers about the needs of regional labor market

Achieved the following WP 1:• Performed a review of existing Master training programs

in Finance in Russian universities taking into account the requirements of the Bologna and comparison of European universities curricula with the Russian ones in the context of future programs.

• Analyzed the content of the courses of Russian Masters programs in Finance to identify the needs for further transformation.

• Analyzed the needs of the regional labor market and its expectations for graduates that will be reflected in the upgraded master's programs.

Project management

Project management set up "Management Committee" which consists of the leaders of the teams of participating universities Management committee_TEMPUS.docx

TSU is responsible for overall management of the project in accordance with the Grant Agreement. A committee of project management at TSU Management committee_TSU.doc

Roles and responsibilities of the partners in the EU and Russia are indicated in the partnership agreement signed by all members of the consortium in the beginning of the project

The final results

1. The directive for modernization of Masters programs in Finance was prepared

WP1\Reports\1_1_Guideline for curricula reform_31_5_2014.docx

The report contains a detailed overview of the status quo of the current curriculums and the planned changes at the structural level, in accordance with the Bologna process.

The results will be the basis for the work performed in WP 2

The final results

2. The directive for modernization of the course content and teaching methods was prepared.

WP1\Reports\1_2_Guideline for reform of contents and methods_31_5_2014.docx

The report describes the status quo and the need to convert content courses in accordance with the degree of updating, relevance and methodology.

The result will be the basis for the work performed in the WP 3 and WP 4.

The final results

3. The directive for modernization the content of programs to meet the needs of the labor market in Siberia and the Far East was prepared

WP1\Reports\1_3_Report on regional market needs_final.docx

The report describes the needs of regional

employers in the field of financial affairs

This result will be the basis for WP 2 and WP 3.

Events schedule

• December 1, 2013 - the beginning of the project • The signing of the General Agreement • Signing of partnership agreements (December -

January 2014) • Clarification of the financial aspects of the transfer

of funds and partners (December - January 2014) • On-Line meeting with partners at TSU (December) on-line.doc• Getting Started with WP 1 (December - March

2104)• Head of International Programs Office of TSU

Mochalov Mikhail Traveled to Brussels (February 2014)

•Kick-off meeting in Tomsk (February)Report1.docxIMG_0848.jpg

1 day - TSU Rector's welcome Eduard Galazhinskiy - Introduction and presentation of partners

- Presentation of Financial ServicesWorkshop

Financial Rules.pptx- Presentation of the project siteSite.docxhttp://EduSFE.isea.ru

2 day- Discussion of the centers of responsibility of each

partner, tasks, procedures and expected resultsTUKE_WP2.pptxUAS_bfi_Vienna_WP4.pdfWP5.pptWP6 Tomsk meeting Feb 2014.pptxWORKPACKAGE NUMBER 8.ppt- Establishment of the quality management project

QCP and EAB WP6.pdf

3 day- Preliminary discussion of educational programs between partner universities

• Travel of representatives of Russian universities to the European Higher Education Partner Universities (March-April):

- Familiarity with the peculiarities of the educational process in the partner institution - Familiarity with the conditions and criteria of admission of students - Analysis of curricula with the release of common and distinct elements - Development of the draft curriculums of dual degree master's programs

TSU-UC.xlsReport3.doc

• Meeting of representatives of universities in the University of Kosice (june 2014)

Workshop Programme_Kosice, June 2014.docximage-27-06-14-21-05.jpeg- Working with the draft of the agreement - Agreement on a set of questions for the further

implementation of the projectECTS basic glossary.doc Deliverable

2.1_Template.docx• Planning meeting in October in Vienna

Until the end of 2014 it is planned: 1. September 2014 - visits of European partners in

Russian Universities Partnerships 2. November 2014 - meeting in Vienna

Conclusions on the process of implementation of the project•1. Significance:

- Changes in project task at this stage is not required

- Expected results minimize risks (all partners have come to a mutual agreement)

2. Performance

-All the activities carried out should comply with the schedule

- Planned results were achieved

- Project management is effective: all decisions are taken in a timely manner and are adequate to address the identified problems and tasks

• 3. Efficiency

- All measures have expected results.- All results are the basis for the further implementation of the project.- All parties interested and actively involved in project management and implementation. - All partners have the opportunity to benefit from the achievements of the project, as all information is provided on the project site, and the results and reports are shared (Dropbox)

•4. Stability

- The planned results of the project can be sustained and summarized as follows: 1. Upgraded Masters programs in Finance in five Russian universities in Siberia and the Far East (including teachers, past internships, upgraded courses and curricula) 2. Five new dual Masters programs in Finance between European and Russian universities

These programs will continue to exist after the formal end of the project:

- The first graduates in 2017 - Strong interest among students in programs of this area and the high demand for study abroad creates a good basis for sustainable development. - High commitment to higher education institutions and the Russian government attempts to improve higher education in Siberia and the Far East and create favorable factors for prolonged implementation of the project.

- At the project level, sustainability will be supported by the Committee on Sustainable Development and Maintenance, consisting of members of the European and Russian universities

- Conference on operation will be organized in Moscow in the last year of the project

- Conference report on the results / achievements of the project and will involve key target groups

Thank you for attention!