The FINANCIAL -- The recently-established Bank of Georgia University has announced the start of its admission process for graduate students to its MBA programme.
The University has allocated 50 places for students. Next year the programme will be available to freshmen as well. Modern principles of education, a flexible payment system, as well as work placements at leading Georgian companies, are some of the outstanding advantages that the University has to offer.
Around GEL 3 million was invested in establishing Bank of Georgia University at the beginning of the year. An additional GEL 2 million will be issued annually to cover the costs of providing grants for students, recruiting professors, inviting over foreign professors and developing libraries.
50 students are going to be accepted for a two-year MBA programme. The first 10 students will get 100% financing, and the following 20 students will get the unique chance to benefit from a grace period of one year and then start a repayment process lasting for four years.
“We strictly determined the number of entry places that we would offer to students based on our realistic estimation of the actual demand for highly skilled professions on the market. We have all the resources to accept more students but if we were to proceed in this way then a problem may occur with their finding employment upon graduating,” said Akaki Kheladze, Rector of Bank of Georgia University.
The annual tuition fee is GEL 7,500. The total number of subjects is 21. During the tuition process students will experience work placements at leading Georgian companies. They will be involved in the everyday work processes of the companies. The University will provide modern literature, all published in 2013-2014. The books that have been chosen as part of the curriculum are going to be offered free of charge by the University itself.
“Career advancement with better conditions, a balance of practical and theoretical knowledge, establishing contacts with key players at successful companies, receiving a western style of education, and flexible payment systems - these are the main advantages of Bank of Georgia University,” said Kheladze.
While working on the tuition programme the University’s administration ran a survey to better understand current market demands so as to provide an adequate response to them. “Graduates that are interested in continuing their education with a Master’s programme participated in the research. It helped us to determine their priorities. Employers as well as representatives of world-leading universities that are offering MBA programmes also participated in the research. The results of the research helped us to implement the final version of the programme,” said Kheladze.
According to Kheladze, employers require a modern standard of education to be given to students, one that will be useful for them in their daily work. “More international standards and regulations, as well as management methods, are getting integrated into daily business operations. For example, currently bonds are becoming more popular, so we incorporated this issue into our program. Technological advancement, media communications and social networks - all these issues, as well as the theoretical components, are delivered by practical tutors that are employed on the job market.”
The management of Bank of Georgia University is currently in negotiations with foreign universities over offering exchange programmes.
“The effectiveness of graduates in Georgia is low. We have had many examples of students graduating simply to get a diploma. Our goal is to advance the quality of education in the country. Our goal is to teach students skills that will prove invaluable to them in the rest of their lives,” Kheladze told The FINANCIAL.